Gold Rate Today in Gandhidham

Gandhidham is the largest city in the Kutch district and a major financial hub situated on the Gulf of Kutch in Gujarat, India. Gandhidham was created in the 1950s as a new settlement for refugees from Sindh in present-day Pakistan. The city is now home to several temples, mosques, and churches.

Gold shops in Gandhidham are plentiful. The city is quite renowned for its goldsmiths and gem cutters. For those looking to pick up some quality gold and silver jewellery, Gandhidham is the ideal place to start shopping. The most popular hotspots for gold buying in Gandhidham are Zaveri Bazar, Tagore Road, and Soni Bazar.

How Does GST Impact Gold Rates in Gandhidham?

GST, or the Goods and Services Tax, is a uniform tax applied to both goods and services in India. The country first began using this system in 2017. 

The GST rate for gold and jewellery is 3%. In India, buyers of gold are currently taxed 10% for the import duty, 3% GST, and an additional 5% on the price of gold. 

If you're considering buying gold jewellery in Gandhidham, keep in mind that there is a GST rate on these purchases.

Things to Consider Before Buying Gold in Gandhidham

Here are a few things that one should consider before buying gold from Gandhidham:

Gold rates in Gandhidham

Gold rates in Gandhidham may not be consistent every day. This is because global economic trends are vital in determining gold rates in Gandhidham. So, it is better to pay close attention to gold rates in the city and buy gold at a reasonable time when the prices are lesser. 

Purity

The purity of gold is determined in karats. There are different levels of gold purity, and gold rates may differ depending on the purity level. 

24-karat gold is the purest form, containing 99.9% pure gold. 22-karat gold is 91.67% pure. 14 karat is 58.33% pure, while 18 karat contains 75% pure gold. 

Always remember that 24-karat gold is not suitable for jewellery and ornaments as it is too soft to hold a jewellery design. Jewellers mostly sell 14, 18 or 22-karat gold jewellery.

Hallmark

Gold is very precious and symbolises the wealth and prosperity of a person. Many fraudulent practices are associated with the gold business, including selling adulterated gold at very inflated prices. 

Always buy gold certified by the Bureau of Indian Standards (BIS). BIS is responsible for maintaining standards of gold purity in the country. BIS does this by certifying goldsmiths and jewellery stores. BIS also provides a gold purity stamp, which is a guarantee of the purity of the gold.

Making charges

Making charges are levied by jewellers on ornaments and coins over and above the gold cost. Gold jewellery design is a difficult and laborious activity, and making charges can depend upon the design complications of gold jewellery. 

Making charges can inflate gold’s price by adding 8-10% extra cost to the actual value of gold. The best way to avoid making charges is to invest in digital gold, Gold Exchange Traded Funds, and Gold Mutual Funds.

Weight

Gold in India is weighted on a per-gram basis. The heavier the jewellery or article, the more expensive it is. 

Make sure you only pay for the weight of gold in the articles. Precious gemstones like diamonds and emeralds must be billed separately as they can inflate the weight of the gold jewellery, making it weigh more.

Complexly designed jewellery ornaments may contain the weight of a lot of non-gold metals and articles. Be careful to exclude them from the weight of the gold in your article.  

Festive season

Gold has tremendous social appeal across the globe. India’s love for gold is not hidden either, and we love to shop for it on special occasions. Gold buying on Diwali, Dhanteras, and Raksha Bandhan is considered auspicious, and the festive season can create a lot of demand for the yellow metal. This is the time when prices may shoot up during the festive season. So plan your gold purchase at a suitable time.