Gold Rate Today in Jalna

Located in central Maharashtra, Jalna district is renowned for its steel rolling mills, and sweet lemons (Mosambi).

Various industries operate in Jalna, including heavy engineering and plastics. However, 85% of the district is made up of agricultural land. Hence, the local economy depends primarily on agriculture and agri-industries.

Gold is a much sought-after commodity, used by locals primarily to make jewellery. Further, gold as an investment option is also popular.
The traditional value and historical appreciation of gold are some reasons contributing to its popularity in Jalna. The demand for gold in the district typically increases during the wedding season and festivities, driving up its rates.

Besides festivals, several reasons cause the price of gold to fluctuate periodically in Jalna and the rest of India. As a potential gold investor, you must know the current rates of gold. So, read on as we dive deep into the Jalna gold markets.

Gold vs Mutual Funds

Market Influence:

• The price of gold is affected by many factors, including market conditions, geopolitical conditions, inflation, currency fluctuations, and interest rates.
• Mutual funds are directly impacted by market conditions.

Types:

• Gold can be purchased in physical or digital form.
• Mutual funds come in various types, including debt, equity, hybrid, and gold.

Liquidity:

• Both gold and mutual funds are highly liquid investments.

Compounding:

• Gold does not provide compounding benefits because it does not yield dividends or interest that can be reinvested.
• Mutual funds, particularly growth funds, may provide favourable long-term results from compounding.

Income generation:

• Gold does not generate income, but its market value may appreciate over time.
• Mutual funds can provide monthly returns through systematic withdrawal plans.

Performance under adverse market conditions:

• Gold prices tend to rise when the stock market declines because investors invest their surplus funds in assets like gold.
• Mutual fund values may decrease during an economic downturn, but they usually stabilize once the market starts to rebound.

Tax benefits:

• Gold investments do not typically offer tax benefits, with the exception of the gold monetization scheme and sovereign gold bonds.
• Tax deductions are available for equity-linked savings schemes (ELSS) under Section 80C of the Income Tax Act, 1961.

What are alternatives to Physical Gold?

There are several alternatives to investing in physical gold, such as:

• Gold Exchange-Traded Funds (ETFs): These are units of physical gold that are held in a dematerialized form. Each unit represents 1 gram of gold that is backed by 99.5% pure gold. Gold ETFs are open-ended funds, meaning they have no lock-in period. To invest in ETFs, you need a Demat account.
• Sovereign Gold Bonds (SGBs): These are government securities issued by the Reserve Bank of India (RBI). They are available in multiples of grams, with the minimum investment set at 1 gram.
• Gold Mutual Funds: These are mutual funds that invest in gold-based instruments such as gold ETFs, gold mining stocks, and gold futures. They offer the convenience of investing in gold without the need to physically own it.

Comparison Between 24-karat and 22-karat Gold

Purity:

• 24-karat gold is the purest form of gold, with a purity of 99.9%.
• 22-karat gold has a purity of 91.67% in 100 grams of alloy. The rest of the alloy consists of metals such as zinc, silver, and nickel.

Hallmark:

• The hallmark for 24-karat gold is 999.
• The hallmark for 22-karat gold is 916.

Suitability for Jewellery:

• 24-karat gold is not suitable for making jewellery because it is too soft and fragile to withstand everyday wear and tear.
• 22-karat gold is suitable for making jewellery because it contains a mixture of gold and other metals, which makes it more durable.

Value:

• 24-karat gold is valued the highest among all variations of gold based on its purity.
• 22-karat gold is valued lower than 24-karat gold.