Gold rate in Kadapa
gold rate in kadapa

24K Gold/ 10gm
56,180.00
0.00(0.00%)
22K Gold/ 10gm
53,500.00
0.00(0.00%)

Last updated on: 29th Jan 2023 9:00 AM

Kadapa in Southern Andhra Pradesh is rich in black and red ferrous soil and known for its black limestone. Kadapa is the gateway to Thirumala hills, where Tirupati temple is located. As of November 2022, the Tirumala Tirupati Devasthanams (TTD) said it has 10.3 tonnes of gold deposits and thousands of crores of rupees in nationalised banks. Many worshippers donate gold and money regularly to the temple as a token of gratitude.

22K & 24K Gold Rates Per Gram in Kadapa

24K
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GramYesterdayToday
1gm
5,618.00
0.00 (0.00%)
5,618.00
0.00 (0.00%)
8gm
44,944.00
0.00 (0.00%)
44,944.00
0.00 (0.00%)
10gm
56,180.00
0.00 (0.00%)
56,180.00
0.00 (0.00%)
100gm
5,61,800.00
0.00 (0.00%)
5,61,800.00
0.00 (0.00%)

Factors Impacting Gold Rates in Kadapa

  • The prices of gold in Kadapa are directly affected by demand and supply fluctuations. Gold is in high demand during weddings, festivals, and auspicious days like Akshay Tritiya, which increases the price.
  •  Bullion trade is carried out in US dollars. Since it is a dollar-denominated asset, every time the US dollar value rises against the Indian rupee, the price of gold in Kadapa rises. This rise is specifically due to high import costs paid by gold traders, which then get passed on to the next level of trading in Kadapa.
  • Gold prices vary from one state to another based on the fuel spent on transporting the gold from the central point. The costs of carrying out the transportation safely also get added to the final price of gold.
  • Gold surges in value when the stock market falls. Similarly, the increase in the cost of living causes gold prices to go up. This is because gold is seen as a haven when the economy is volatile. 
  • Periods of increased interest rates also lead to a fall in gold prices, as people prefer to invest in high-interest-rate paying instruments instead of gold.

Taxes on Gold

The price of gold purchased by you in Kadapa contains the following taxes:

  • Import Duty: An import duty of 12.5% is charged on gold imported into the country. 
  • Agriculture Infrastructure Development Cess: 2.5% of AIDC is charged on imported gold. 
  • GST on making charges: When physical gold is moulded into jewellery, it attracts making charges. A GST rate of 5% is to be paid on these making charges.
  • Hallmarking charges: You pay ₹ 35 per article of gold for the hallmarking.

Gold Purity

The Bureau of Indian Standards (BIS) has made hallmarking mandatory to guarantee the purity or fineness of precious metal articles. This protects buyers from purchasing adulterated gold and ensures that your gold fetches the right price if you want to liquidate it.

Registered jewellers in Kadapa and the country must only sell hallmarked gold articles. The purity of gold is measured in karats (K). A 22K BIS hallmarked gold article will have the BIS logo. 24-karat gold is the purest, as it has 99.9% gold. However, it is too soft for use and hence, is strengthened by the addition of metals such s zinc and copper. 22K contains traces of copper, silver, nickel and zinc apart from gold, which makes it durable. It is also called 916 gold, as it has 91.6% gold. The price of 916 gold is calculated by multiplying 0.916 by the price of 24 karat gold.

Alternatives to Buying Gold Jewellery

Buying gold jewellery and coins involves paying the making and waste charges. These are not recovered when you resell these items. So if you are buying gold purely as an investment, here are a few alternative options:

  • Sovereign Gold Bonds (SGBs): Various gold bonds are issued from time to time by the Reserve Bank of India (RBI). These bonds are denominated in grams of gold. The owner receives an interest payment of 2.5% on a semi-annual basis. At maturity, the bond can be redeemed at the then price of 24-karat gold. 
  • Gold Exchange-Traded Funds (ETFs): A gold ETF is a passive investment instrument based on gold prices and investment in gold bullion. Gold ETFs are units that stand for physical gold. One gold ETF unit = 1 gram of gold and is backed by physical gold of very high purity. 
  • Gold Mutual Funds: These funds invest in gold-linked instruments such as gold bonds, equity of syndicates involved in mining, importing, refining of gold, etc. They are professionally managed, risk calibrated, and may offer high returns. 

Historical gold rates in Kadapa in last 10 days

1 gram
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Day24K Gold22K Gold
30 Jan 2023
5,618.00
0.00 (0.00%)
5,350.00
0.00 (0.00%)
29 Jan 2023
5,618.00
0.00 (0.00%)
5,350.00
0.00 (0.00%)
28 Jan 2023
5,618.00
6.00 (0.11%)
5,350.00
5.00 (0.10%)
27 Jan 2023
5,612.00
-37.00 (-0.65%)
5,345.00
-35.00 (-0.65%)
26 Jan 2023
5,649.00
37.00 (0.66%)
5,380.00
35.00 (0.66%)
25 Jan 2023
5,612.00
-11.00 (-0.19%)
5,345.00
-10.00 (-0.18%)
24 Jan 2023
5,623.00
34.00 (0.61%)
5,355.00
32.00 (0.61%)
23 Jan 2023
5,589.00
3.00 (0.06%)
5,323.00
3.00 (0.06%)
22 Jan 2023
5,586.00
0.00 (0.00%)
5,320.00
0.00 (0.00%)
21 Jan 2023
5,586.00
-5.00 (-0.08%)
5,320.00
-5.00 (-0.09%)

Who Decides the Gold Rates in Kadapa?

The IBJA (The Indian Bullion Jewellers Association) plays a vital role in determining the daily gold rates in Kadapa. IBJA consists of the country's most prominent gold dealers. They account for the lion’s share of gold that is sold and bought in the country and hence, has the power to determine the gold price across the country.

Banks are the largest importers of gold in the country. However, they add a fee to the imported gold before selling it to a supplier, increasing the purchase price at the source. By the time it reaches you, the price you pay for gold includes various charges. For instance, when you buy gold jewellery, you may also need to pay a making price.

Weekly & monthly gold rate in Kadapa
1 gram
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7 Days
30 Days
3 Months
6 Months
24K GOLD
22K GOLD

Gold vs. FD

Both gold and fixed deposits are popular investment instruments. However, both share some differences, too. To begin with, returns from FD are guaranteed and fixed. Market fluctuations or economic conditions don’t affect your interest income.

On the other hand, gold rates can fluctuate. This is because gold rates get decided daily. They could go up or down based on economic conditions. But per historical trends, gold rates have always gone up in the longer term.

Trend of Gold rates in Kadapa

1 gram
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Day24K Gold22K Gold
01 January 202353875130
30 January 202356185350
Highest56495380
Lowest53875130

How is the Purity of Gold Evaluated in Kadapa?

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.

  1. BIS Mark

    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.

  2. Karat

    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.

  3. Jewellers Identification Mark

    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.

FAQs of Gold price in Kadapa

How is the purity of gold measured?

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Which are some places to buy gold jewellery in Kadapa?
 

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What is KDM gold? How is it different from hallmarked gold?

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What returns do I get from investing in a gold bond?

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