Last updated on: 3th Feb 2023 10:00 AM
Kavaratti is a city in the Union Territory of Lakshadweep, India. From a perspective of buying gold, Kavaratti offers various options for residents to purchase physical gold, including bullion bars, coins, and jewelry, from multiple gold shops and jewelry stores in the city. In addition to physical gold, financial institutions in Kavaratti also provide gold investment options such as gold savings accounts, gold ETFs, and gold bonds.
Gram | Yesterday | Today |
---|---|---|
1gm | ₹5,628.00 0.00 (0.00%) | ₹5,628.00 0.00 (0.00%) |
8gm | ₹45,024.00 0.00 (0.00%) | ₹45,024.00 0.00 (0.00%) |
10gm | ₹56,280.00 0.00 (0.00%) | ₹56,280.00 0.00 (0.00%) |
100gm | ₹5,62,800.00 0.00 (0.00%) | ₹5,62,800.00 0.00 (0.00%) |
The purity of gold is assessed by its hallmark which is a stamp on a gold, silver or platinum item that certifies its purity. The most common hallmarks for gold items in India are the Bureau of Indian Standards (BIS) mark or logo, the Karat scale, and the jeweller's unique logo.
There is a 3% Goods and Services (GST) on all gold purchases. In addition to this, there are also making charges and import duties, depending on the gold item you are purchasing. When you are calculating the total amount of money you will spend to purchase or invest in gold, ensure you factor in the GST.
Day | 24K Gold | 22K Gold |
---|---|---|
04 Feb 2023 | ₹5,628.00 0.00 (0.00%) | ₹5,360.00 0.00 (0.00%) |
03 Feb 2023 | ₹5,628.00 0.00 (0.00%) | ₹5,360.00 0.00 (0.00%) |
02 Feb 2023 | ₹5,628.00 89.00 (1.61%) | ₹5,360.00 85.00 (1.62%) |
01 Feb 2023 | ₹5,539.00 26.00 (0.48%) | ₹5,275.00 25.00 (0.48%) |
31 Jan 2023 | ₹5,513.00 -15.00 (-0.27%) | ₹5,250.00 -15.00 (-0.28%) |
30 Jan 2023 | ₹5,528.00 0.00 (0.00%) | ₹5,265.00 0.00 (0.00%) |
29 Jan 2023 | ₹5,528.00 0.00 (0.00%) | ₹5,265.00 0.00 (0.00%) |
28 Jan 2023 | ₹5,528.00 15.00 (0.28%) | ₹5,265.00 15.00 (0.29%) |
27 Jan 2023 | ₹5,513.00 -63.00 (-1.12%) | ₹5,250.00 -60.00 (-1.12%) |
26 Jan 2023 | ₹5,576.00 42.00 (0.76%) | ₹5,310.00 40.00 (0.76%) |
Various factors affect the price of Gold in Kavaratti. It may range from geopolitical factors to the demand and supply of gold. Geopolitical factors include the relations between two countries regarding gold as a trade commodity. As an investor, you should remember the current gold prices and the factors affecting them.
Presently, India doesn’t have enough gold reserves with itself. So most of the gold is imported in its natural form. Therefore, investors should keep in mind the import rates as they could affect the prices of gold in Kavaratti.
As an investor, you should be aware of international relations between India with other countries as it could halt or negatively impact the imports of gold.
Central Bank Regulations could severely impact the prices of gold. For instance, in the United States, regulators have wound-up quantitative easing, leading to the incredible performance of gold as a commodity.
Supply and demand play a significant role in determining the prices of gold. As it is a natural resource, the supply of gold is essential to determine the prices. If the supply of gold is more and demand is less, the commodity's prices might decrease. For instance, during the festive period, prices of gold increased due to its increasing demand.
As the United States is a major global power regarding imports and exports, the performance of the dollar rate is a key player in determining gold prices.
24-karat gold is the purest form of gold. It is great for investment, but it cannot be used to make jewellery. That is why it is mixed with other metals to make jewellery. 24-karat gold is 99.9% pure, while 22-karat gold is 91.6% pure. Jewellery is mostly made using 22-karat gold because it can be mixed with other metals to make intricate pieces of jewellery.
Day | 24K Gold | 22K Gold |
---|---|---|
01 February 2023 | 5539 | 5275 |
05 February 2023 | 0 | 0 |
Highest | 5628 | 5360 |
Lowest | 5539 | 5275 |
Below mentioned are some interesting facts about gold as an investable commodity that every investor in Kavaratti should keep in mind:
How do you identify the gold purity?
Is it safe to purchase gold online in Kavaratti?
Can the BIS Mark be fake?
What to keep in mind before purchasing Gold in Kavaratti?
gold rates in Popular cities of India
Gold rate in Mumbai