Last updated on: 29th Jan 2023 9:00 AM
Gold rates in Guwahati have seen an upward trend over the years. As of now, there is no better investment than gold, which has always seen an upward trend, even though it is dependent on several factors like government policies, inflation, and fluctuations in international gold rates.
Guwahati is a major city in Assam and one of the largest metropolises in the North Eastern region of India. Dispur, Assam's capital, is a suburban locality in Guwahati. As you already know, Guwahati is also a popular tourist destination. The world-renowned Kaziranga National Park — home to the one-horned rhino — is a few hours' drive from here. It also has numerous ancient temples of worship, such as the Navagraha and Kamakhya temples.
As the city is a prominent commercial hub, several businesses have opened operations in Guwahati, thereby increasing employment opportunities and enhancing disposable incomes. With increased affluence, the city's residents are keen to invest and diversify their investments, particularly in gold jewellery.
Assamese culture places great emphasis on traditional ornaments crafted from gold, commonly termed "Kesha Xoon", meaning raw gold. It is a traditional Assamese custom for the bride to wear gold jewellery as part of their marriage ceremony. While so many changes are happening across the city, this timeless tradition has witnessed no change whatsoever.
Gold has always been a traditional and safe investment method for Indians, and the people of Guwahati are no exception. During the festive time of Dhanteras and Diwali, people in the city rush to buy gold.
Just like in other cities, the gold rates in Guwahati are subject to change and depend on several local, regional and global factors.
With rising inflation, the currency rate falls, and the currency needs to be devalued. Investment in gold becomes the perfect antidote to falling interest rates. Consumers find that investing in gold is safer and will also give them future returns compared to investing in fixed deposits or mutual funds, which are subject to market risk.
India tends to import gold from abroad and hence pays a lot of import duty. Any change to import duties affects the prices of gold. Changes in political scenarios and wars between countries cause the value of the currency to dip.
It is a known fact that several central banks worldwide hold gold reserves, as does the Reserve Bank of India. When these banks resort to gold buying and selling, they can cause gold rates to fluctuate.
High demand and low supply situations for gold tend to cause changes in gold prices. Gold's availability is scarce compared to its demand, making it a precious commodity. This disparity in demand and supply dictates international gold rates.
Slow and sluggish exchange rates of the Indian rupee and US Dollar contribute to the gold price volatility.
Interest rates on financial products and other services link closely with the demand for gold. When the interest rates increase, investors tend to sell gold and invest the proceeds to earn interest, thereby increasing the supply of gold. This eventually leads to a dip in the price of gold. On the other hand, if the interest rate is low, the demand for gold increases, causing gold prices to rise.
Intricate gold jewellery is not made from pure 24K gold; it has certain amounts of silver, copper, and some other metals mixed in varying proportions. For instance, a gold alloy made by combining two parts of another metal with twenty-two parts of gold would be 22 karats, or 91.67% pure gold.
This alloy is much tougher than 100% pure gold and is ideal for jewellery making.
|Day||24K Gold||22K Gold|
|30 Jan 2023|
|29 Jan 2023|
|28 Jan 2023|
|27 Jan 2023|
|26 Jan 2023|
|25 Jan 2023|
|24 Jan 2023|
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|22 Jan 2023|
|21 Jan 2023|
A few things that you need to bear in mind are:
There are several options to invest in gold in Guwahati. Today gold can be bought via a variety of methods in Guwahati.
For many Indian households, storing gold in its physical form is a stressful factor. However, this can be taken care of with easy and convenient options such as digital gold. Holding gold as an ETF (exchange-traded fund) is far more practical than owning real gold. It is safe, convenient and secure at all times.
Further, gold mutual funds are another preferred option. The value of gold ETF units, which in turn represent the worth of physical gold, is tracked by gold mutual funds.
|Day||24K Gold||22K Gold|
|01 January 2023||5465||5205|
|30 January 2023||5691||5420|
There are several methods that can be used to test the purity of gold in Guwahati. Some of the most common methods include:
It is important to note that these methods are not mutually exclusive and may be used in combination to test the purity of gold. In Guwahati, gold jewelry is typically tested and certified by independent third parties, such as the Bureau of Indian Standards (BIS), which operates a network of hallmarking centers across the country.
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