Gold rate in Mathura

Mathura is one of the seven most sacred cities in India. Since gold is considered a symbol of devotion and reverence, the demand for gold in Mathura is relatively high. In fact, Mathura is among the largest consumers of gold in India.

Gold prices in Mathura constantly fluctuate due to various factors such as international gold rates, inflation and government policies. Moreover, the high gold demand also drives the city's gold rates.

Here are some interesting facts about gold that you must know: - Supply and demand are among the primary factors that determine gold prices. - Rates of interest are inversely proportionate to gold prices. Typically, when the interest rates increase, gold prices drop. - Gold acts as a hedging tool against economic inflation.

The purity of gold is measured in karats. The higher the karat value, the higher the purity and its prices. 24K and 22K gold are the most widely purchased variants. Let's understand the difference between these two: - 24 karat is the purest form of gold. It is 99.9% pure and does not have any other metal mixed with it. On the other hand, 22-karat gold is a mixture of gold and other metals such as silver, zinc alloy, etc. It contains 22 parts of gold for 24 parts of metal. - 24K gold is more expensive than 22K gold owing to its distinctive yellow colour and purity. - 22K gold is generally used to make jewellery, whereas 24K gold is used to make bars and coins.

Gold has a low correlation with equity or debt assets. The following points highlight the differences between gold and other assets: - Gold has a traditional, ornamental, and investment value, while other options are usually meant to generate investment returns. - Gold prices can rise in volatile markets when equity falls. - Gold does not offer guaranteed returns like debt instruments. - Gold is a liquid asset, while other options, like fixed deposits, Public Provident Funds (PPF), etc., do not provide high liquidity.

The introduction of Goods and Services Tax (GST) in 2017 increased the rates of gold in Mathura and the whole country. Gold jewellery is now costlier as it attracts 3% GST. Furthermore, making charges also increase the price of gold in Mathura. (Making charges refer to the cost of moulding physical gold into jewellery.)

The Reserve Bank of India (RBI) regulates financial services in India. It carries out monetary and currency policies. The gold rate is determined based on the monetary policy of RBI. The Government of India holds gold reserves and buys or sells gold through RBI. Gold prices in Mathura fluctuate depending on the quantity and price of the gold being traded by the government.