Gold Rate Today in Morbi
Last updated on: 8th Mar 2023
Morbi means City of Peacocks. The city is known for its rich cultural heritage and natural beauty. It has always been a trade centre and industrial hub in the Saurashtra region of Gujarat. Morbi is a synonym for the ceramic manufacturing industry. Similarly, it has a long history in the clock manufacturing industry. Paper mills, export houses, and packaging industries are some of the dominant areas of industrial development in the city. All of them together have made the economy of Morbi very sound and thus, are attracting many investors in gold.
The city has many jewellery stores and it is very easy to buy gold here. Traditionally, gold is considered a valuable asset to safeguard against future contingencies. Buying gold is a sign of prosperity. Age-old wealth generation ideology is associated with it. Gold is used to make beautiful ornaments and other items. The price of gold depends on many factors in Morbi.
Let us understand how the current gold rate is derived in Morbi.
Gold Rate Comparison - 22K vs 24K
What Factors Affect the Price of Gold in Morbi?
The primary factors affecting the gold price are briefly discussed below:
Purity of Gold
Karats are the measure of gold purity. 24-karat gold is the purest form of gold. It cannot be used in making ornaments because it is very soft in texture. 22-karat gold is the next pure level of gold that can be used to make jewellery. The price of gold varies according to its purity.
Type of Gold
Gold can be purchased in various forms such as coins, bars, and ornaments. The making charges add to the cost of gold jewellery. Gold coins are minted by the government and they are an assured way of getting pure gold. Hence, it is more expensive.
Demand and Supply
Demand and supply factors prevalent in the city have a direct impact on the price of gold. The demand for gold is more during festivals and weddings. The supply of gold depends on imports and import duties add to the value of gold.
Geopolitical Factors and Currency Rates
Global economic factors affect gold prices to a greater extent. For example, war brings economic uncertainty. Economic downturns and inflation are other significant variables that increase or decrease the price of gold. The value of the US Dollar has a large impact on gold prices. The relationship between the Indian rupee and US Dollar too can bring changes in the gold price. The price of Morbi is affected by all these external factors along with domestic conditions.
Today's 22K & 24K Gold Rates Per Gram in Morbi
| Gram | Yesterday | Today |
|---|---|---|
| 1 gram | ₹5,543.00 -10 (0.18%) | ₹5,543.00 0 (0.00%) |
| 8 grams | ₹44,344.00 -80 (0.18%) | ₹44,344.00 0 (0.00%) |
| 10 grams | ₹55,430.00 -100 (0.18%) | ₹55,430.00 0 (0.00%) |
| 100 grams | ₹5,54,300.00 -1000 (0.18%) | ₹5,54,300.00 0 (0.00%) |
| Gram | Yesterday | Today |
|---|---|---|
| 1 gram | ₹5,543.00 -10 (0.18%) | ₹5,543.00 0 (0.00%) |
| 8 grams | ₹44,344.00 -80 (0.18%) | ₹44,344.00 0 (0.00%) |
| 10 grams | ₹55,430.00 -100 (0.18%) | ₹55,430.00 0 (0.00%) |
| 100 grams | ₹5,54,300.00 -1000 (0.18%) | ₹5,54,300.00 0 (0.00%) |
Investment Options for Gold in Morbi
Following are the investment options for gold in the city:
Gold coins, bars, and ornaments
Gold coins are a preferred mode of shopping in the city. From an investment perspective, gold bars are also favourite among people here. Both the coins and the bars are available in different weights ranging from 1 gram to 10 grams. The coins may be either of 22K or 24K purity levels.
Gold Exchange-Traded Funds (ETFs)
If you do not want to invest in physical gold, you can choose Gold Exchange-Traded Funds. These are types of funds that track the price of gold. It is possible to buy or sell ETFs on the stock exchange. You can invest in them without worrying about theft.
Sovereign Gold Bonds
These bonds are issued by the Reserve Bank of India and are safe to invest in. They give an assured interest income. They come with a denomination of a basic unit of one gram. They come with a fixed tenure with an option to exit after five years.
Investment in gold is not just limited to physical gold. Depending on individual preference and need, you can also invest in gold mutual funds, gold ETFs and sovereign gold bonds. Gold has been and will always be a precious metal for people from all walks of life.
Historical Gold Rate in Morbi for Last 10 Days
| Day | 24K Gold | 22K Gold |
|---|---|---|
| 09 Mar 2023 | ₹55,430.00 0 (0.00%) | ₹50,812.68 0 (0.00%) |
| 08 Mar 2023 | ₹55,430.00 -100 (0.18%) | ₹50,812.68 -91.67 (0.15%) |
| 07 Mar 2023 | ₹55,530.00 0 (0.00%) | ₹50,904.35 0 (0.00%) |
| 06 Mar 2023 | ₹55,530.00 0 (0.00%) | ₹50,904.35 0 (0.00%) |
| 05 Mar 2023 | ₹55,530.00 0 (0.00%) | ₹50,904.35 0 (0.00%) |
| 04 Mar 2023 | ₹55,530.00 0 (0.00%) | ₹50,904.35 0 (0.00%) |
| 03 Mar 2023 | ₹55,530.00 +150 (0.27%) | ₹50,904.35 +137.50 (0.23%) |
| 02 Mar 2023 | ₹55,380.00 +160 (0.29%) | ₹50,766.85 +146.67 (0.24%) |
| 01 Mar 2023 | ₹55,220.00 +110 (0.20%) | ₹50,620.17 +100.84 (0.17%) |
| 28 Feb 2023 | ₹55,110.00 -160 (0.29%) | ₹50,519.34 -146.67 (0.24%) |
| Day | 24K Gold | 22K Gold |
|---|---|---|
| 09 Mar 2023 | ₹55,430.00 0 (0.00%) | ₹50,812.68 0 (0.00%) |
| 08 Mar 2023 | ₹55,430.00 -100 (0.18%) | ₹50,812.68 -91.67 (0.15%) |
| 07 Mar 2023 | ₹55,530.00 0 (0.00%) | ₹50,904.35 0 (0.00%) |
| 06 Mar 2023 | ₹55,530.00 0 (0.00%) | ₹50,904.35 0 (0.00%) |
| 05 Mar 2023 | ₹55,530.00 0 (0.00%) | ₹50,904.35 0 (0.00%) |
| 04 Mar 2023 | ₹55,530.00 0 (0.00%) | ₹50,904.35 0 (0.00%) |
| 03 Mar 2023 | ₹55,530.00 +150 (0.27%) | ₹50,904.35 +137.50 (0.23%) |
| 02 Mar 2023 | ₹55,380.00 +160 (0.29%) | ₹50,766.85 +146.67 (0.24%) |
| 01 Mar 2023 | ₹55,220.00 +110 (0.20%) | ₹50,620.17 +100.84 (0.17%) |
| 28 Feb 2023 | ₹55,110.00 -160 (0.29%) | ₹50,519.34 -146.67 (0.24%) |
| Day | 24K Gold | 22K Gold |
|---|---|---|
| 09 Mar 2023 | ₹55,430.00 0 (0.00%) | ₹50,812.68 0 (0.00%) |
| 08 Mar 2023 | ₹55,430.00 -100 (0.18%) | ₹50,812.68 -91.67 (0.15%) |
| 07 Mar 2023 | ₹55,530.00 0 (0.00%) | ₹50,904.35 0 (0.00%) |
| 06 Mar 2023 | ₹55,530.00 0 (0.00%) | ₹50,904.35 0 (0.00%) |
| 05 Mar 2023 | ₹55,530.00 0 (0.00%) | ₹50,904.35 0 (0.00%) |
| 04 Mar 2023 | ₹55,530.00 0 (0.00%) | ₹50,904.35 0 (0.00%) |
| 03 Mar 2023 | ₹55,530.00 +150 (0.27%) | ₹50,904.35 +137.50 (0.23%) |
| 02 Mar 2023 | ₹55,380.00 +160 (0.29%) | ₹50,766.85 +146.67 (0.24%) |
| 01 Mar 2023 | ₹55,220.00 +110 (0.20%) | ₹50,620.17 +100.84 (0.17%) |
| 28 Feb 2023 | ₹55,110.00 -160 (0.29%) | ₹50,519.34 -146.67 (0.24%) |
| Day | 24K Gold | 22K Gold |
|---|---|---|
| 09 Mar 2023 | ₹55,430.00 0 (0.00%) | ₹50,812.68 0 (0.00%) |
| 08 Mar 2023 | ₹55,430.00 -100 (0.18%) | ₹50,812.68 -91.67 (0.15%) |
| 07 Mar 2023 | ₹55,530.00 0 (0.00%) | ₹50,904.35 0 (0.00%) |
| 06 Mar 2023 | ₹55,530.00 0 (0.00%) | ₹50,904.35 0 (0.00%) |
| 05 Mar 2023 | ₹55,530.00 0 (0.00%) | ₹50,904.35 0 (0.00%) |
| 04 Mar 2023 | ₹55,530.00 0 (0.00%) | ₹50,904.35 0 (0.00%) |
| 03 Mar 2023 | ₹55,530.00 +150 (0.27%) | ₹50,904.35 +137.50 (0.23%) |
| 02 Mar 2023 | ₹55,380.00 +160 (0.29%) | ₹50,766.85 +146.67 (0.24%) |
| 01 Mar 2023 | ₹55,220.00 +110 (0.20%) | ₹50,620.17 +100.84 (0.17%) |
| 28 Feb 2023 | ₹55,110.00 -160 (0.29%) | ₹50,519.34 -146.67 (0.24%) |
How is the Purity of Gold Evaluated in Morbi?
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.
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.
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.
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.
Gold Rates in Morbi
The gold rates change daily as they are dependent on many variable factors. The dominant among them are local demand, international gold prices, the purity of gold, etc. The rates given here are updated daily as they are subject to change. Below are the current gold rates in Morbi:
- 22-karat Gold Rate
- 24-karat Gold Rate
Gold Rate in Morbi vs Other Cities
The price of gold in Morbi is affected by the taxes levied and the international price of gold. The demand for gold in the city at times pushes the price upward. Here is an analysis of the gold rates in other major Indian cities as compared to Morbi.
FAQs of Gold Rate in Morbi
Why is gold symbolised as AU?
Gold comes from the word 'Gohl', which means yellow and shiny. AU is its chemical symbol. It derives the symbol from the Latin word, Aurum meaning "Gold". The colour could be yellow, green, or even rich brazen blue with a shine.
What are the other uses of gold?
Should I take an authentic invoice for the hallmarked article from the jeweller?
Can gold beat inflation?
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Price
₹55,430 / 10gm
Last updated on: 8th Mar 2023
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