Gold Rate Today in Panchkula

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.

Comparison Between 24K and 22K Gold

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.

Gold Vs Other Investment Options

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 : 

• Gold has been serving excellent returns to its investors for the past 5000 years, and no other form of investment has been able to perform anywhere close to the precious yellow metal.
• Gold is comparatively less volatile and the world's most preferred investment option.
• Whenever there is uncertainty, war, devaluation or an economic slowdown, most investments become risky, But gold always stays on top despite such uncertainties.
• Gold is accepted globally and has an excellent purchase power for years.
• There is a steady upward demand for gold which will be the reason for the rise in gold rates, making it a profitable investment in the years to come.

Impact of GST / Central Bank Policies on Gold Rates in Panchkula

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:

• Gold making charge - 5%.
• On Import - 10%.
• On Gold value - 3%.

Here is how GST rates impact gold purchases in Panchkula:

• As gold importers under the GST regime do not pay the 10% import duty on gold imports, there is an increase in imports. 
• As the purchaser must pay GST up to 5% on making charges, investors began to invest in 24K gold coins, biscuits and bars instead of ornaments.

How is the Purity of Gold Evaluated 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.