Gold Rate Guntur
Last updated on: 8th Mar 2023 06:30 AM
Guntur is located in the eastern part of Andhra Pradesh. It is the homeland of diamonds - including the Hope diamond (which is on display in the National Museum of Natural History in Washington, DC, USA) and the Kohinoor diamond.
The affinity of Indians for gold is a well-established fact, and the same is true for the people of Guntur. Purchasing and investing in gold is a traditional practice among Indians. Besides buying gold for personal use during weddings and celebrations, the citizens of Guntur also buy it for gifting purposes. In addition to other parts of the country, the people of Guntur also view gold as a safe form of investment.
Karat (K) is the unit used to measure the purity of gold. Gold is available in various purity levels in Guntur -
If you wish to check the purity of gold on your own, you can do so by the following methods -
Most people buy gold in the form of jewellery, coins, bars and biscuits. This is the traditional practice of purchasing gold in Guntur and is considered safe by many Indians. But buying physical gold comes with a few challenges -
To avoid the problems mentioned above, newer alternatives have now cropped on the market. Let us have a look at some of those -
|Day||24K Gold||22K Gold|
|09 Mar 2023|
|08 Mar 2023|
|07 Mar 2023|
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|28 Feb 2023|
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.
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 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.
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 is considered one of the safest investment avenues. Experts suggest that even during economic and political crises, investing in gold is fruitful because its value appreciates.
Several factors influence gold rates in Guntur, some of which are listed below -
Gold is considered a haven when market-linked investments become risky. Hence, when the stock market falls, gold prices increase. This is because investors tend to invest in gold during such times.
Should I opt for a gold loan or a personal loan in Guntur?
For a personal loan, you need to provide a lot of documents and ensure a guarantor to the bank. All of this can be time-consuming.
For a gold loan, you just need to provide gold as collateral, and you can avail it within a few hours. Also, the interest rates on a gold loan are comparatively less than on a personal loan.
So, it is better to get a gold loan than a personal one.
Why is gold alloyed with other metals?
What is KDM gold?
What is a BIS hallmark?
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.