Gold rate in Phagwara
gold rate in phagwara

24K Gold/ 10gm
57,440.00
0.00(0.00%)
22K Gold/ 10gm
54,700.00
0.00(0.00%)

Last updated on: 3th Feb 2023 10:00 AM

Phagwara, a city in the Indian state of Punjab, is known for its growing economy and investment opportunities. With a thriving business community and increasing number of investors, Phagwara has become an attractive location for those looking to grow their wealth. One such investment option that has been popular for centuries is gold, a precious metal that is widely considered a safe haven for investors. From its stability to its growth potential, investing in gold has been a preferred choice among investors.

In this blog, we will explore the benefits of investing in gold in Phagwara and why it is a smart option for both seasoned and first-time investors. From understanding the basics of gold investment to exploring the different forms of gold investments available in the city, we aim to provide you with a comprehensive guide to make informed investment decisions in Phagwara.

22K & 24K Gold Rates Per Gram in Phagwara

24K
DownArrow
GramYesterdayToday
1gm
5,744.00
0.00 (0.00%)
5,744.00
0.00 (0.00%)
8gm
45,952.00
0.00 (0.00%)
45,952.00
0.00 (0.00%)
10gm
57,440.00
0.00 (0.00%)
57,440.00
0.00 (0.00%)
100gm
5,74,400.00
0.00 (0.00%)
5,74,400.00
0.00 (0.00%)

Why Does The Gold Price In Phagwara Keep Changing?

Demand for gold is a major reason for the fluctuation in prices. Gold jewellery has always been a popular way for Indians to invest in gold. Moreover, gold prices also have a relation with inflation, the stock market, government policies and geo-political developments. 

Gold price changes due to various factors such as:

  • Supply and demand: Changes in the demand for gold, mining supply, and above-ground stocks can all impact the price of gold.
  • Inflation: Rising inflation can lead to higher demand for gold. It is a popular hedge against currency depreciation.
  • Geopolitical conditions: Unrest, conflict, and uncertainty in a country can increase demand for gold as a safe asset.
  • Central bank policy: Changes in monetary policy and interest rates can impact the supply and demand for gold.
  • Currency fluctuations: Movements in the value of the US dollar can also impact the price of gold. This is because it is the currency in which gold is priced
  • Taxes and fees: Governments can increase taxes and fees on the mining, refining, and selling of gold, which can raise the price of the metal.

Historical gold rates in Phagwara in last 10 days

1 gram
DownArrow
Day24K Gold22K Gold
04 Feb 2023
5,744.00
0.00 (0.00%)
5,470.00
0.00 (0.00%)
03 Feb 2023
5,744.00
0.00 (0.00%)
5,470.00
0.00 (0.00%)
02 Feb 2023
5,744.00
90.00 (1.60%)
5,470.00
85.00 (1.58%)
01 Feb 2023
5,654.00
26.00 (0.47%)
5,385.00
25.00 (0.47%)
31 Jan 2023
5,628.00
-16.00 (-0.28%)
5,360.00
-15.00 (-0.27%)
30 Jan 2023
5,644.00
0.00 (0.00%)
5,375.00
0.00 (0.00%)
29 Jan 2023
5,644.00
0.00 (0.00%)
5,375.00
0.00 (0.00%)
28 Jan 2023
5,644.00
16.00 (0.29%)
5,375.00
15.00 (0.28%)
27 Jan 2023
5,628.00
-63.00 (-1.10%)
5,360.00
-60.00 (-1.10%)
26 Jan 2023
5,691.00
42.00 (0.75%)
5,420.00
40.00 (0.75%)

How Is The Purity Of Gold Evaluated in Phagwara?

  • Fineness: The purity of gold is usually expressed as fineness. This refers to the ratio of the weight of pure gold to the total weight of the metal. It is expressed in parts per thousand.
  • BIS Hallmark: The Bureau of Indian Standards (BIS) hallmark is a certification mark for gold in India. This indicates that the gold meets India's standards of purity.
  • Assay: An assay is a laboratory test that determines the purity of gold by measuring the amount of gold in a sample.
  • Jewellers Certification: Some jewellers may provide a certificate of authenticity for gold jewellery, indicating the metal's weight, fineness, and other details.
  • XRF analysis: X-ray fluorescence (XRF) is a non-destructive analytical technique used to determine the composition of gold, including its fineness.

Weekly & monthly gold rate in Phagwara
1 gram
DownArrow

7 Days
30 Days
3 Months
6 Months
24K GOLD
22K GOLD

Comparative Analysis Of Gold Vs Fixed Deposit (FD) Options

 

Risks Involved

Gold prices are prone to short-term fluctuations. On the other hand, it has consistently provided significant long-term returns. Gold is a wise investment because it has historically protected investors from inflation and currency volatility.

Bank fixed depostis are also considered a safe investment. Investors get a fixed return on the deposit's maturity based on the terms and conditions.

Return On Investment

Investing in gold is considered important and it has provided a high rate of return in the long run. Returns from gold may vary from time to time based on the conditions mentioned above.

The assured returns on fixed deposits are their principal benefit. Senior citizens may also profit from higher interest rates offered to them.

Loans Against Investment

Loans up to 80% of FDs are provided by most financial institutions. Many banks and non-banking financial companies (NBFCs) provide loans against FDs at lower rates than those of personal loans.Taking a loan against gold is also a valid option.

Liquidity

Gold is among the most popular investments due to its high level of liquidity. Take the physical gold to any reputed jeweller and you can get the cash in return. On the other hand, the liquidity of FDs is based on the financial institution's policies. You have the option to liquidate your FDs prematurely.

Flexibility In Tenure

There are several ways to invest in gold, including gold bullion, gold stock, and gold exchange-traded funds (ETFs). Your investment will decide the length. FD's tenures range from seven days to ten years. Remember that the financial institution and the products you choose determine the terms.

Trend of Gold rates in Phagwara

1 gram
DownArrow
Day24K Gold22K Gold
01 February 202356545385
07 February 202300
Highest57445470
Lowest56545385

Some Interesting Facts About Gold

  • The vast majority of the gold that is discovered today didn't come from the earth! Instead, they were deposited when meteorites rained down on earth some 200 million years ago.
  • Due to its great malleability and ductility, one ounce of gold may be hammered into a sheet of 100 square feet or pounded into a thread 8 km long.
  • The largest producers of gold are China, Australia, Russia, the United States, and Canada.
  • Indian households hold the largest private reserve of gold in the world.
  • Gold is the only metal that is yellow or "golden" in colour.

FAQs of Gold price in Phagwara

What exactly are Sovereign Gold Bonds (SGB)?

DownArrow

What distinguishes jewellery of 10K, 14K, 18K, and 24K gold?

DownArrow

What is Rose Gold?

DownArrow

What are the alternatives to physical Gold?

DownArrow