Last updated on: 8th Mar 2023 06:30 AM
Investing in gold has been a tradition for many individuals, with its value often increasing during times of economic uncertainty. Palwal, a city located in the northern Indian state of Haryana, is no exception to this trend. In this blog, we will explore the various options available for gold investment in Palwal and the benefits and risks associated with each.
From gold coins and bars to exchange-traded funds and jewelry, there is a wide range of options for those looking to invest in this precious metal. Whether you are a seasoned investor or just starting out, this guide will provide you with valuable information to help you make informed decisions about your gold investment in Palwal.
Apart from other factors like demand, supply, and market conditions that determine the price of gold. The Indian Bullion Jewellers Association (IBJA) also comes up with the price of gold for the day. They seek prices from major gold dealers and then considering other factors they come up with the mean gold price for the day. Many factors of consideration are taken into before coming to the price of the yellow metal.
Gram | Yesterday | Today |
---|---|---|
1 gram | ₹553.90 -1.00 (-0.18%) | ₹553.90 0.00 (0.00%) |
8 grams | ₹4,431.20 -8.00 (-0.18%) | ₹4,431.20 0.00 (0.00%) |
10 grams | ₹5,539.00 -10.00 (-0.18%) | ₹5,539.00 0.00 (0.00%) |
100 grams | ₹55,390.00 -100.00 (-0.18%) | ₹55,390.00 0.00 (0.00%) |
Every gold sold in the market is graded with purity level. And each purity level is decided by the Bureau of Indian Standards (BIS). BIS certifies gold with a hallmark of 916 engraved on the yellow metal. Similarly, Quality Control of India (QCI) also ensures the gold sold is of good and pure quality.
However, the certification of gold purity is based on the international standard of the London Bullion Market Association (LBMA) regulation. Every karat number shows the exact purity of the yellow metal. For instance, 18K gold contains 75% pure gold, 22K gold contains 91% pure gold and 24K gold contains 99.9% pure gold.
Day | 24K Gold | 22K Gold |
---|---|---|
09 Mar 2023 | ₹5,539.00 0.00 (0.00%) | ₹5,077.60 0.00 (0.00%) |
08 Mar 2023 | ₹5,539.00 -10.00 (-0.18%) | ₹5,077.60 -9.17 (-0.15%) |
07 Mar 2023 | ₹5,549.00 0.00 (0.00%) | ₹5,086.77 0.00 (0.00%) |
06 Mar 2023 | ₹5,549.00 0.00 (0.00%) | ₹5,086.77 0.00 (0.00%) |
05 Mar 2023 | ₹5,549.00 0.00 (0.00%) | ₹5,086.77 0.00 (0.00%) |
04 Mar 2023 | ₹5,549.00 0.00 (0.00%) | ₹5,086.77 0.00 (0.00%) |
03 Mar 2023 | ₹5,549.00 15.00 (0.27%) | ₹5,086.77 13.75 (0.23%) |
02 Mar 2023 | ₹5,534.00 16.00 (0.29%) | ₹5,073.02 14.67 (0.24%) |
01 Mar 2023 | ₹5,518.00 11.00 (0.20%) | ₹5,058.35 10.08 (0.17%) |
28 Feb 2023 | ₹5,507.00 -16.00 (-0.29%) | ₹5,048.27 -14.67 (-0.24%) |
There are many reasons why gold prices keep changing. Here are the reasons listed below.
You must be aware that apart from buying physical gold, you can also get virtual and government-back gold certificates. These gold certificates have the same value as real gold and guarantee you the benefit of buying and selling the virtual gold certificate. Rather than people buying physical gold or bullion, they can also invest in other gold form options. Here is a list of other alternatives to physical gold.
Since yellow metal is a lucrative business, the government leaves no stone unturned when it comes to adding tax to it. As we all can observe that gold rates are skyrocketing every single day, but the rise in prices is not only coming from one side but from other sides as well. A GST on gold has further increased the price of gold and put the onus on consumers.
Currently, the government charges 3% GST across India on the sale and purchase of gold ornaments and jewellery.
Who decides the purity and quality of gold?
The Bureau of Indian Standards (BIS) and Quality Control of India (QCI) decide the purity and quality of gold.
Which is more soft gold, 24K gold or 22K gold?
Is the gold price of one place the same as that of another?
What is one tola (tole) of gold?
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.