Gold Rate Today in Jorhat

Jorhat lies in the northeast region of India in the state of Assam. It is known for its rich culture and traditions and beautiful tea gardens. It is an important city, both culturally and commercially. Gold is a popular choice when it comes to its residents' investment choices. It is considered a safe investment. Thus, people include gold in their investment portfolios to ensure a balanced approach to securing their future.

Gold in Jorhat can be purchased in its physical form and paper gold, based on your personal preferences. Read on to learn more about the gold rates in Jorhat today and various factors affecting its prices and demand across Jorhat.

Gold as an Investment in Jorhat

When it comes to investing in Gold in Jorhat, there are two ways to go about it. You can either invest in gold by buying it in its physical form. This includes purchasing gold jewellery, coins and bars, or if you do not want to own gold in its physical form, you can invest in paper gold. These come in many forms like Sovereign Gold Bonds, Gold Exchange-traded Funds (ETFs), Gold Mutual Funds, Digital Gold and more. One of the major advantages of investing in paper gold is that it frees you of the stress and charges that come with the storage of physical gold.

Interesting Facts About Gold

Here are some interesting facts about gold that will further pique your interest in this precious metal:

• India has a long history of gold mining, dating back to ancient times. The country is believed to have some of the world's earliest gold mines, with evidence of gold mining dating back to the Indus Valley Civilization.
• In India, gold is primarily mined in Karnataka and Andhra Pradesh. The Kolar Gold Field in Karnataka was a major source of gold in the country and was featured in the popular Kannada film KGF.
• India is one of the biggest importers of gold in the world. The Jewellery industry is the major reason for the imports.
• India is also one of the largest holders of gold, with around 25,000 tonnes of gold held by Indian households in various forms.

Factors Determining Gold Rates in Jorhat

Many factors like supply and demand, government regulations and duties, the type and quality of gold, etc, determine gold prices. Here are some of the most crucial factors affecting gold rates in Jorhat:

Supply and Demand

Supply and demand of gold play a significant role in determining its price. When the supply is on the higher end, but the demand is low, the prices of gold at that time will be low. But when the demand increases, so does the price of gold. For example, during festivals like Diwali or Dhanteras, there is a heavy demand for gold in Jorhat. At that time price of gold will also increase.

Government Duties and Regulations

Government levies several duties on gold. These include:

• Customs Duty - 12.5%
• Agriculture Infrastructure and Development Cess (AIDC) - 2.5%
• Social Welfare Surcharge - 10% of Customs Duty

There is also a 3% GST levied on gold purchases and a 5% GST on making charges for gold. Sometimes the government can bring policies in favour of the metal, which can result in the decline of gold rates in Jorhat.

Quality of Gold

The purer the gold, the higher its prices will be. The purity of gold is measured in karats (K). The purest form of gold is 24K. However, it is too malleable to make jewellery out of it. Hence, gold jewellery is mixed with other metals to give it strength. Although, if you want gold in its purest form, i.e. 24K, you can buy coins and bars.