Last updated on: 3th Feb 2023 10:00 AM
The historic twin towns of Kalyan and Dombivli are in Maharashtra's Thane district. They come under the Mumbai metropolitan region and are administered by the Kalyan Dombivli Municipal Corporation.
Both towns are steeped in history and bear numerous relics of an ancient and glorious past. Dombivli finds a mention in stone inscriptions in Mahul village near Turbhe Port, dating back to 1075.
Kalyan, a prosperous port city, was subjected to numerous invasions, ranging from the Mughals and Portuguese to the British.
It is, however, recognised as a Maratha and Peshwa bastion and is best known as a strategic place that Marathas conquered back from the Mughals.
Gram | Yesterday | Today |
---|---|---|
1gm | ₹5,726.00 0.00 (0.00%) | ₹5,726.00 0.00 (0.00%) |
8gm | ₹45,808.00 0.00 (0.00%) | ₹45,808.00 0.00 (0.00%) |
10gm | ₹57,260.00 0.00 (0.00%) | ₹57,260.00 0.00 (0.00%) |
100gm | ₹5,72,600.00 0.00 (0.00%) | ₹5,72,600.00 0.00 (0.00%) |
It indicates that higher inflation levels will most likely result in higher prices for gold because the value of money is likely to decrease. Inflation tends to be directly related to fluctuations in the price of gold.
The importance of gold in Indian households is well known, especially during the festival and wedding seasons. Additionally, prices rose throughout the festive period due to increased consumer demand for gold. It's significant to notice that, according to a World Gold Council (WGC) report from 2019, Indian families have collected about 25,000 metric tons of gold overall, making India the largest gold-holding nation in the world.
Any changes in the US dollar or Indian rupee may affect gold prices in India because gold is traded in USD on international markets. The value of gold is likely to rise in Indian rupees if the rupee were to decrease against the USD. India also imports a lot of gold because it is one of the top metal users, with imports covering 89% of the demand. As a result, import taxes significantly influence gold prices in India.
Interest rates and gold prices are inversely related. When interest rates decline, people find it challenging to earn satisfactory returns on any deposits and think investing in gold would provide better returns. As a result, demand for gold rises, as do the prices. In contrast, as interest rates increase, people usually sell their gold and invest in deposits to earn higher interest, resulting in falling demand and prices for gold.
Day | 24K Gold | 22K Gold |
---|---|---|
04 Feb 2023 | ₹5,726.00 0.00 (0.00%) | ₹5,453.00 0.00 (0.00%) |
03 Feb 2023 | ₹5,726.00 0.00 (0.00%) | ₹5,453.00 0.00 (0.00%) |
02 Feb 2023 | ₹5,726.00 90.00 (1.60%) | ₹5,453.00 85.00 (1.59%) |
01 Feb 2023 | ₹5,636.00 26.00 (0.47%) | ₹5,368.00 25.00 (0.47%) |
31 Jan 2023 | ₹5,610.00 -16.00 (-0.28%) | ₹5,343.00 -15.00 (-0.27%) |
30 Jan 2023 | ₹5,626.00 0.00 (0.00%) | ₹5,358.00 0.00 (0.00%) |
29 Jan 2023 | ₹5,626.00 0.00 (0.00%) | ₹5,358.00 0.00 (0.00%) |
28 Jan 2023 | ₹5,626.00 16.00 (0.29%) | ₹5,358.00 15.00 (0.29%) |
27 Jan 2023 | ₹5,610.00 -63.00 (-1.11%) | ₹5,343.00 -60.00 (-1.11%) |
26 Jan 2023 | ₹5,673.00 42.00 (0.75%) | ₹5,403.00 40.00 (0.75%) |
There are several ways to purchase gold as an investment:
The GST for gold in Kalyan-Dombivli is approximately 3%, and there are various other charges involved in the gold rate, including processing fees and customs duties. For gold, the processing charge and the customs duty are both 5%.
Day | 24K Gold | 22K Gold |
---|---|---|
01 February 2023 | 5636 | 5368 |
07 February 2023 | 0 | 0 |
Highest | 5726 | 5453 |
Lowest | 5636 | 5368 |
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.
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.
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.
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.
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