Gold rate in Gangavathi
gold rate in gangavathi

24K Gold/ 10gm
57,490.00
0.00(0.00%)
22K Gold/ 10gm
54,750.00
0.00(0.00%)

Last updated on: 3th Feb 2023 10:00 AM

Gangavathi is a town in the state of Karnataka, India. The town has a rich cultural heritage and has a long history of gold trading and investment. There are several gold shops and jewellery stores in Gangavathi where residents can buy and sell physical gold, including bullion bars, coins, and jewellery. Additionally, there are various financial institutions in Gangavathi that offer gold investment options such as gold savings accounts, gold ETFs, and gold bonds. Gold is considered a safe haven asset and is widely used for investment purposes due to its stability and potential for appreciation.

22K & 24K Gold Rates Per Gram in Gangavathi

24K
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GramYesterdayToday
1gm
5,749.00
0.00 (0.00%)
5,749.00
0.00 (0.00%)
8gm
45,992.00
0.00 (0.00%)
45,992.00
0.00 (0.00%)
10gm
57,490.00
0.00 (0.00%)
57,490.00
0.00 (0.00%)
100gm
5,74,900.00
0.00 (0.00%)
5,74,900.00
0.00 (0.00%)

Why Gold prices Change in Gangavathi

 

Demand and supply

When the demand for gold is not met with enough supply, its price is affected. This is especially true during India's festive season as buyers rush to purchase gold. Prices also change when the central government increases or decreases its gold reserves.

Import duties and taxes

As most of the gold in India is imported, the central government places import duties and additional taxes on the commodity:

  1. Custom duty: 12.5%
  2. Agricultural Infrastructure and Development Cess (AIDC): 2.5%
  3. Social Welfare surcharge: 10% of customs duties
  4. GST on gold: 3%

International factors

Gold's price is linked to the US dollar (USD). This is why the performance of the currency directly affects gold rates. When US's central bank changes interest rates, gold moves as well. Additionally, geo-political issues like wars also affect gold's supply chain and price.

Indian Bullion Jewellers Association (IBJA)

The IBJA is a prominent group for bullion and gold jewellers associations in India. They publish daily gold AM and PM rates. Based on these rates, prices of sovereign gold bonds and lending rates against gold are determined.

Private banks

Just like the IBJA, India's private banks also import the precious metal and determine interest rates on loans against gold.

Historical gold rates in Gangavathi in last 10 days

1 gram
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Day24K Gold22K Gold
04 Feb 2023
5,749.00
0.00 (0.00%)
5,475.00
0.00 (0.00%)
03 Feb 2023
5,749.00
0.00 (0.00%)
5,475.00
0.00 (0.00%)
02 Feb 2023
5,749.00
89.00 (1.58%)
5,475.00
85.00 (1.58%)
01 Feb 2023
5,660.00
27.00 (0.48%)
5,390.00
25.00 (0.47%)
31 Jan 2023
5,633.00
-16.00 (-0.28%)
5,365.00
-15.00 (-0.27%)
30 Jan 2023
5,649.00
0.00 (0.00%)
5,380.00
0.00 (0.00%)
29 Jan 2023
5,649.00
0.00 (0.00%)
5,380.00
0.00 (0.00%)
28 Jan 2023
5,649.00
16.00 (0.29%)
5,380.00
15.00 (0.28%)
27 Jan 2023
5,633.00
-63.00 (-1.10%)
5,365.00
-60.00 (-1.10%)
26 Jan 2023
5,696.00
42.00 (0.75%)
5,425.00
40.00 (0.75%)

Why should you invest in gold?

 

High value

Gold has remained valuable throughout history. It is both a culturally relevant commodity across the world and a popular investment tool.

Crisis commodity

Gold acts as a haven during times of economic uncertainty. When confidence in governments and stock markets goes down, gold typically shines.

Gold as a hedge

When inflation makes goods and services costly, gold's performance historically sees a boost.

Evergreen demand

The demand for gold will probably never diminish due to its scarcity and mass appeal. It is also  seen as a popular investment choice in emerging economies with higher incomes 

Weekly & monthly gold rate in Gangavathi
1 gram
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7 Days
30 Days
3 Months
6 Months
24K GOLD
22K GOLD

How can you invest in Gold in Gangavathi?

 

Physical gold

Physical gold means gold coins, bars and jewellery. Depending on your budget you can buy physical gold in various sizes and weights from a trustworthy vendor. Always look out for BIS-mandated hallmarks to ensure the gold's authenticity.

Sovreign Gold Bonds (SGBs)

SGBs are government-backed securities issued by the Reserve Bank of India on behalf of the government. When you buy an SGB you pay the issue price and redeem the bond when it matures (at a pre-determined time).

Mutual funds

Gold mutual funds are another way of investing in gold and diversifying your portfolio. In this case, you do not have to worry about storing gold or its authenticity. The Securities and Exchange Board of India (SEBI) monitors and regulates these mutual funds.

Gold Exchange Traded funds (ETFs)

Gold ETFs track the price of gold in India and are listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). They are traded just like stocks of any other company. Gold ETFs involve gold in the digital form and not in physical form. Just like stocks, when you redeem Gold ETFs you redeem them in cash and not gold.

Trend of Gold rates in Gangavathi

1 gram
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Day24K Gold22K Gold
01 February 202356605390
05 February 202300
Highest57495475
Lowest56605390

Some Interesting Facts on Gold

Since gold is one of the most important elements of financial security for Indian households. Here are some interesting facts on gold.

  • Approximately 30% of the gold sold in India is hallmarked. As per the experts, there is a 10% to 15% difference in the purity of gold and its karat value.
  • The Indian Bullion Jewellers Association (IBJA) sets the gold rates in India. The jewellers decide the discount rate as per the gold rate calculated by IBJA daily. The calculation is based on the demand and headroom they have.
  • Gold is one of the most liquid assets. It is owned by all major institutions, including the Central Bank of India. It keeps the economy flowing.
  • The price is determined by stock equilibrium rather than flow equilibrium.
  • The factors that influence the price of gold differ from those that affect the price of other financial assets.

FAQs of Gold price in Gangavathi

Should I invest in physical gold or other forms of gold?

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What are the things that I should keep in mind while buying gold jewellery?

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What is better, 22K or 24K gold?

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What is BIS 916 Gold?

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