Gold Rate Today in Ghaziabad
Last updated on: 2nd Jun 2023 05:41 AM
Owing to its proximity to New Delhi, Ghaziabad, the Gateway to Uttar Pradesh, serves as the state's primary entry. It is a planned industrial city linked by highways and trains. Numerous business and residential construction projects are being developed along National Highway 24.
Since gold is a safe asset, investors purchase it to safeguard themselves against market fluctuations. People in Ghaziabad perceive gold as a symbol of status and wealth. As a result, Ghaziabad is now a thriving gold market.
Gold Rate Comparison - 22K vs 24K
Who Decides the Gold Rates in Ghaziabad?
The IBJA (The Indian Bullion Jewellers Association) plays a vital role in determining the daily gold rates in Ghaziabad. IBJA consists of the country's most prominent gold dealers. They account for the lion’s share of gold that is sold and bought in the country and hence, has the power to determine the gold price across the country.
Banks are the largest importers of gold in the country. However, they add a fee to the imported gold before selling it to a supplier, increasing the purchase price at the source. By the time it reaches you, the price you pay for gold includes various charges. For instance, when you buy gold jewellery, you may also need to pay a making price.
Today's 22K & 24K Gold Rates Per Gram in Ghaziabad
| Gram | Yesterday | Today |
|---|---|---|
| 1 gram | ₹6,017.00 5.00 (0.08%) | ₹6,020.00 3.00 (0.05%) |
| 8 grams | ₹48,136.00 40.00 (0.08%) | ₹48,160.00 24.00 (0.05%) |
| 10 grams | ₹60,170.00 50.00 (0.08%) | ₹60,200.00 30.00 (0.05%) |
| 100 grams | ₹6,01,700.00 500.00 (0.08%) | ₹6,02,000.00 300.00 (0.05%) |
Gold vs. FD
Both gold and fixed deposits are popular investment instruments. However, both share some differences, too. To begin with, returns from FD are guaranteed and fixed. Market fluctuations or economic conditions don’t affect your interest income.
On the other hand, gold rates can fluctuate. This is because gold rates get decided daily. They could go up or down based on economic conditions. But per historical trends, gold rates have always gone up in the longer term.
Historical Gold Rate in Ghaziabad for Last 10 Days
| Day | 24K Gold | 22K Gold |
|---|---|---|
| 02 Jun 2023 | ₹60,200.00 30.00 (0.05%) | ₹55,185.34 27.50 (0.04%) |
| 01 Jun 2023 | ₹60,170.00 50.00 (0.08%) | ₹55,157.84 45.83 (0.07%) |
| 31 May 2023 | ₹60,120.00 20.00 (0.03%) | ₹55,112.00 18.33 (0.03%) |
| 30 May 2023 | ₹60,100.00 510.00 (0.85%) | ₹55,093.67 467.52 (0.71%) |
| 29 May 2023 | ₹59,590.00 60.00 (0.10%) | ₹54,626.15 55.00 (0.08%) |
| 26 May 2023 | ₹59,530.00 -90.00 (-0.15%) | ₹54,571.15 -82.50 (-0.13%) |
| 25 May 2023 | ₹59,620.00 -460.00 (-0.77%) | ₹54,653.65 -421.68 (-0.65%) |
| 24 May 2023 | ₹60,080.00 -260.00 (-0.43%) | ₹55,075.34 -238.34 (-0.36%) |
| 23 May 2023 | ₹60,340.00 -120.00 (-0.20%) | ₹55,313.68 -110.00 (-0.17%) |
| 22 May 2023 | ₹60,460.00 0.00 (0.00%) | ₹55,423.68 0.00 (0.00%) |
How is the Purity of Gold Evaluated in Ghaziabad?
Gold is valuable only when it is pure. There are instances where customers are duped with impure gold. Hence, confirming the purity of gold is crucial.
The Bureau of Indian Standards (BIS) is a government authority that certifies the purity of gold. According to BIS, the following factors are to be kept in mind when buying gold.
BIS Mark
Jewellery hallmarked by BIS will have a BIS logo on it. Remember that since BIS is the only authorized laboratory in India for gold certification.
Karat
Karat is a scale to gauge gold's purity. While 24 karat gold is the purest, it is too soft for use. Hence, other metals are added and the gold available in the market is often 22 Karat.
Jewellers Identification Mark
The gold you buy should also carry an identification mark by an authorized jeweller. This helps ensure the gold is from a credible source. The mark can also be helpful in the case of disputes.
Gold Investment Opportunities in Ghaziabad
People acquire gold as an investment or to wear on special occasions. Weddings, festivals and other auspicious events drive gold sales. Since gold has proven to provide long-term returns even during economic uncertainty, investors purchase it to safeguard their investments against market swings.
In Ghaziabad, you can purchase gold in the following ways:
- The most conventional method of purchasing gold is to buy over-the-counter. Ghaziabad residents can buy gold from various certified jewellers and jewellery stores.
- You can also purchase gold coins and bars via jewellers and banks. It is more expensive to buy gold from a bank, but you also receive a purity certificate.
- You can acquire gold by trading e-gold on the National Spot Exchange.
- You can trade gold on commodity markets such as the National Commodity & Derivatives Exchange (NCDEX), the National Spot Exchange Limited (NSEL), and the Multi Commodity Exchange of India (MCX).
- Other gold investment options in Ghaziabad include gold Exchange Traded Funds (ETFs), sovereign government bonds (SGBs) and gold saving funds.
Some Tips for Buyers Before Purchasing Gold Jewellery in Ghaziabad
It would help if you kept a few things in mind before purchasing gold jewellery in the city.
- Purity: Double-check for the purity hallmark on your gold item when purchasing gold in Ghaziabad. It is impossible to obtain 100% pure gold jewellery because pure gold is too soft to be moulded into ornaments. Metals like zinc, copper and silver are mixed with pure gold to lend it hardness to be shaped into jewellery.
Always buy items with a hallmark stamp to ensure the purity of your gold. You should also request a BIS (Bureau of Indian Standards) certificate, which authenticates hallmarked gold jewellery in India. The BIS hallmark is also present on the ornament/coin/bar. - Locker Price: Everyone wants to keep their gold secure. Getting a locker is one of the best ways to secure the safety of your physical gold assets.
- Gold Rate: Do not forget to search for the gold rate in Ghaziabad 24k on the day of purchase. Local jewellers, local import duty, and gold exchange rates determine prices. Remember that rates for 916k gold differ across all the cities in India.
Investing in gold is a wise choice, but analyse the present market state, the scope of return, and other factors. For example, if you see that the gold rate in Ghaziabad is higher, but the price of real estate is showing signs of decreasing, then investing in real estate would be the wiser option.
FAQs of Gold Rate in Ghaziabad
What is the nature of the demand for gold jewellery in Ghaziabad?
Ghaziabad has a vibrant gold market, with the local populace showing an affinity toward gold purchases. Gold is mainly used in jewellery and ornaments. Various large and small gold dealers in Ghaziabad form the backbone of the local gold market.
Which one should I choose? 22k or 24k gold?
Which is preferable: a personal loan or a gold loan?
How much gold is in one 'tola?'
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Disclaimer: Wint Wealth makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are subject to change with market value and are provided on an as-is basis. Wint Wealth has no commercial interest or gain in or from the actions resulting from the information displayed on this page. Nothing contained herein is intended to or shall be deemed to be investment advice, implied or otherwise. You are advised to make your own enquiries, consult a professional advisor and verify the information prior to taking any investment decisions. We accept no liability for any loss arising from the use of the data contained on this website.