Gold Rate Today in Itanagar

Itanagar, the capital of Arunachal Pradesh. It is situated north of the Brahmaputra River in the southwestern part of the state. It is a perfect blend of scenic beauty, rich culture, and numerous archaeological sites. Itanagar draws visitors from all over India who travel for the wildlife sanctuary, Gompa Buddhist Temple, Ziro Music Festival, Ita Fort, and Ganga Lake.
Tourism is a primary economic source in this city, supporting many people's livelihoods. It has been observed that the growing number of visitors has increased the demand for gold in Itanagar.

How To Check Gold Purity In Itanagar?

Acid Test

Take a black stone and rub the product against it. It will leave a mark on the product. Now apply nitric acid to the affected area. The mark will dissolve if the item is impure gold, whereas the acid will not affect pure gold.

Magnet Test

Take a strong magnet bar and bring it near the gold-coloured item. Due to its non-magnetic properties, pure gold will show no reaction. However, gold products with low karats might be a mixture of base metals having non-magnetic properties. Hence, magnet tests are not always a reliable method.

Float Test

The density of 24K gold is 19.2 g/cm3. It is heavier than the majority of metals used in the manufacture of fake gold ornaments. To perform a float test, fill a jar halfway with water and drop the product. Pure gold sinks due to its high density, whereas impurities float.

Skin Test

Rub the piece forward and backward against your skin. In addition, you can hold it between your hands for a short period of time. If the metal is pure gold, your skin will not react to it. Your skin may turn green, blue, or black if it comes into contact with fake jewellery.

How To Invest In Gold In Itanagar?

You can buy gold in either paper or physical form. The former is advantageous for investment purposes. Here are your options.

Digital Gold

A minimum capital requirement of ₹1 is required to invest in yellow metal via digital gold. Every investment you make here has the backing of 24K gold stored in a secure vault. SafeGold, MMTC-PAMP India, and Augmont Gold dominate the Indian digital gold market. However, there is no RBI or SEBI body to regulate digital gold sellers, increasing investment risk. 

Gold Futures

Gold futures are exchange-traded derivatives in which the seller agrees to deliver certain quantities of gold at predetermined prices. The exchange clearing house standardises the contract's components.

Gold Mutual Funds

A mutual fund is a professionally managed scheme that invests in stocks of various gold-related companies, including mining, logistics, processing, manufacturing, and marketing. With a minimum investment of ₹ 500, you can invest in gold mutual funds.

Gold Savings Schemes

The scheme allows you to save and deposit small amounts on a recurring basis in jewellery stores. Interest accumulates over the term of the deposit. When the funds mature, you can only use them to purchase ornaments.

What Factors Influence Gold Prices in Itanagar?
 

Inflation

Gold prices rise in lockstep with inflation. When inflation soars, the currency loses value, reducing your purchasing power significantly. However, gold remains stable during inflation, so investors and governments prefer to keep liquidity in gold form. The surge in demand for yellow metal in the country drives up gold prices.

International Relations

India is a major importer of gold. It purchases yellow metal from the UAE, the European Union, Switzerland, Ghana, and Peru. If the relationship with the gold-importing country deteriorates for diplomatic reasons, yellow metal prices will rise.

Nature

Natural disasters such as floods, cyclones, earthquakes, and landslides disrupt the entire mining to logistics process. For example, the extraction process is halted if it rains heavily in a city with a gold reserve. Similarly, if Itanagar experiences an earthquake or a landslide, logistics become difficult. Such scenarios contribute to a supply shortage and an increase in gold prices.

US Dollar

The US dollar, or USD, is a widely used medium for gold imports and exports. Imports become more expensive as the USD value rises against the Indian currency, causing yellow metal prices to rise.

Government Reserves

The government stockpiles gold to deal with the economic downturn. It also serves as a safety net when the value of a currency falls and when most people want to exchange it for gold. If the central government directs the Reserve Bank of India to increase gold reserves, the jewellery market will face a supply shortage, leading to rate increases.