Gold Rate Today in Noida
Last updated on: 2nd Jun 2023 05:41 PM
A bustling urban hub and a prominent city in the National Capital Region of India, Noida is the acronym for New Okhla Industrial Development Authority. Now a technological and business hub with modern office spaces and swanky malls, Noida has emerged as a green city, with its well-planned, integrated city spaces, DND flyover, and smooth inter-state road linkages.
From its famed Film City to its contemporary Industrial City, Noida is synonymous with fast track development and as a bustling hub for the country's top corporates. For the same reason, investors from all walks of life flock to Noida and look for real estate and gold investment options. It is popularly said that Noida enjoys the advantages of Delhi, without any of the disadvantages.
Gold Rate Comparison - 22K vs 24K
Gold investment options in Noida
When it comes to investing in gold, a potential investor has a wide range of choices:
Digital gold
In the financial sector, digital gold has recently gained popularity. It can be purchased online and is usually kept by the seller on behalf of the buyer in secure vaults. 24-karat Hallmark gold can be purchased or sold for as little as ₹1.
Sovereign gold bond
Government securities known as sovereign gold bonds are valued in grams of gold. Sovereign gold bonds are the safest way to invest in gold since they are issued on behalf of the Government of India by none other than the Reserve Bank of India. Bonds will be redeemed in cash at maturity when investors have paid the issuing price in cash.
Due to their lower vulnerability to market risks and variations, sovereign gold bonds are a safe investment strategy.
Investment in actual gold
Investing in physical gold items like gold coins, bars or bullion has been one of the traditional methods. This real gold purchase carries a minimal risk of deceit but a significant danger of theft and storage expenses if you opt for a bank locker.
Gold Exchange-traded funds (ETFs)
An exchange-traded fund (ETF) that follows the domestic physical gold price is known as a gold ETF. They are passive investment tools that invest in gold bullion and are dependent on gold prices. Essentially, gold ETFs represent physical gold, whether it is paper or dematerialised.
Today's 22K & 24K Gold Rates Per Gram in Noida
| Gram | Yesterday | Today |
|---|---|---|
| 1 gram | ₹6,017.00 10.00 (0.17%) | ₹5,957.00 -60.00 (-1.01%) |
| 8 grams | ₹48,136.00 80.00 (0.17%) | ₹47,656.00 -480.00 (-1.01%) |
| 10 grams | ₹60,170.00 100.00 (0.17%) | ₹59,570.00 -600.00 (-1.01%) |
| 100 grams | ₹6,01,700.00 1000.00 (0.17%) | ₹5,95,700.00 -6000.00 (-1.01%) |
Hallmark and 916 Different Gold Varieties
Hallmark gold
Gold that has been certified and put through the quality assurance and verification procedure is known as hallmark gold. This hallmarking procedure is carried out by the Bureau of Indian Standards (BIS), a government agency, to guarantee the purity and fineness of a gold object.
916 gold
It is 22 Karat gold, also known as 916 gold. The number 91.6, or 91.6 grams of pure gold in a 100-gram alloy, is essentially used to indicate the purity of gold in the finished product.
Historical Gold Rate in Noida for Last 10 Days
| Day | 24K Gold | 22K Gold |
|---|---|---|
| 02 Jun 2023 | ₹59,570.00 -600.00 (-1.01%) | ₹54,607.82 -550.02 (-0.85%) |
| 01 Jun 2023 | ₹60,170.00 100.00 (0.17%) | ₹55,157.84 91.67 (0.14%) |
| 31 May 2023 | ₹60,070.00 -30.00 (-0.05%) | ₹55,066.17 -27.50 (-0.04%) |
| 30 May 2023 | ₹60,100.00 510.00 (0.85%) | ₹55,093.67 467.52 (0.71%) |
| 29 May 2023 | ₹59,590.00 60.00 (0.10%) | ₹54,626.15 55.00 (0.08%) |
| 26 May 2023 | ₹59,530.00 -90.00 (-0.15%) | ₹54,571.15 -82.50 (-0.13%) |
| 25 May 2023 | ₹59,620.00 -450.00 (-0.75%) | ₹54,653.65 -412.51 (-0.63%) |
| 24 May 2023 | ₹60,070.00 -270.00 (-0.45%) | ₹55,066.17 -247.51 (-0.38%) |
| 23 May 2023 | ₹60,340.00 -90.00 (-0.15%) | ₹55,313.68 -82.50 (-0.13%) |
| 22 May 2023 | ₹60,430.00 -80.00 (-0.13%) | ₹55,396.18 -73.34 (-0.11%) |
How is the Purity of Gold Evaluated in Noida?
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.
Factors that affect gold prices in Noida
Gold price fluctuations can be analysed based on the following variables:
Changes in currency rates
In the international market, gold is traded in US dollars. Converting USD is necessary to determine the import expenses. Changes in USD pricing affect the overall costs in USD and INR. As a result, the cost of imports, sales, etc., changes every day.
The connection between inflation and gold prices
It means that rising levels of inflation will most likely lead gold prices to increase as the value of money is likely to drop. Gold price swings frequently have a direct impact on inflation.
Impact of interest rates on the price of gold
Interest rates and gold prices typically have an inverse correlation. This may be because when interest rates drop, people do not get sizeable returns on their deposits and believe that investing in gold will yield higher returns. Due to this increase in demand, gold's price naturally rises. As interest rates rise, however, people typically sell their gold and put their money in deposits where they may earn more interest. As a result, fewer people buy gold, which drives down the price.
Supply and demand
Supply and demand factors have an impact on the current gold rate in Noida. Due to a combination of strong demand and limited supply, gold prices have increased in Noida. During festive occasions such as Dhanteras Diwali, there is a surge in demand for gold.
Jewellery Market
On special occasions like weddings and other religious celebrations, most residents in Noida like to celebrate with gold jewellery or gold coins. Weddings are one of the busiest seasons for most jewellery showrooms in Noida. Also, the festive season is another popular occasion when people buy gold jewellery.
FAQs of Gold Rate in Noida
Can I purchase gold coins in India without having a bank account?
In India, you must have a bank account with the bank if you want to purchase a gold coin from them.
Is there a difference between the hallmark gold rate and the normal gold rate?
Does the gold rate affect the sale and buying of gold ornaments?
How do beginners invest in gold?
Sovereign Gold Bond
2.5% p.a. + Gold price increase
- RBI issued bonds
- Best deals filtered for you
- Tax exempted when held till maturity
Gold Rates in Popular Cities of India
Disclaimer: Wint Wealth makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are subject to change with market value and are provided on an as-is basis. Wint Wealth has no commercial interest or gain in or from the actions resulting from the information displayed on this page. Nothing contained herein is intended to or shall be deemed to be investment advice, implied or otherwise. You are advised to make your own enquiries, consult a professional advisor and verify the information prior to taking any investment decisions. We accept no liability for any loss arising from the use of the data contained on this website.