Last updated on: 8th Mar 2023 06:30 AM
Gold has been a reliable investment option for centuries, with its value often rising during times of economic uncertainty. Panchkula, a city located in the northern Indian state of Haryana, is no exception to this trend. In this blog, we will delve into the various options available for gold investment in Panchkula and the benefits and risks associated with each. From gold coins and bars to exchange-traded funds and jewellery, 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 Panchkula.
Gold is in its natural form and has the characteristic gold sheen. It is of maximum purity grade (24K), and its excellent for investment purposes. Gold coins and biscuits comprise 24 parts or 100% gold or 24K gold.
However, it is a malleable metal that is challenging to mould into intricate patterns. Thus jewellers mix 22 parts or 91.67% gold and 8.33% alloy like nickel, copper, silver, etc. Ornamental gold is hence of a lower purity grade or 22K.
So, a gram of 24K gold is more expensive than a gram of 22K gold.
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%) |
From ancient times there has been a practice of investing in gold, and investors find it a safe place to park their funds. Here are the reasons why gold is still a better form of investment in comparison with the others :
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%) |
After the Goods and services tax by the Government of India, gold rates in Panchkula rose by approximately 0.75%. As per the GST structure, varying tax rates apply on making charges of ornaments and the value of gold.
Taxes applicable as per the GST structure are as follows:
Here is how GST rates impact gold purchases in Panchkula:
If you are investing in gold coins, biscuits or bars; choose 24K, which is the maximum purity. However, if you want to buy heavy gold ornaments, you can invest in 22K gold as they are durable, and the jeweller can mould them into intricate patterns. 18K gold is best when you make gold jewellery with diamonds, and other precious stones, for it holds better and protects the stone from falling off.
To evaluate gold jewellery in Panchkula, checks its hallmark, and you will find the purity grade in the tiny triangular logo. The BIS mark also contains the identification of the hallmarking agency and jewellery and the year of the hallmark.
What should I check while buying gold in Panchkula?
While buying gold in Panchkula, check the hallmark for its purity and the day’s rates. Remember that if the gold is 22K, the rates will be lesser than 24k. Also, while buying ornaments, check how much the making charges will cost you.
What are the factors that influence gold rates in Panchkula?
Is gold a worthwhile investment in Panchkula?
Why do gold prices in Panchkula fall when the US dollar is steady and strong?
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.