Gold rate in Porbandar
gold rate in porbandar

24K Gold/ 10gm
57,480.00
0.00(0.00%)
22K Gold/ 10gm
54,740.00
0.00(0.00%)

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

Porbandar has a thriving tourism industry and is an important industrial and port hub. Several industries drive the economy, including cement, chemicals, metallurgical, port & shipbuilding, and fishing. Some of the population is involved in agriculture as well. When it comes to gold, In Porbandar and throughout India, it is primarily used for making jewellery and as an investment. 

According to India Bullion and Jewellers Association, about 400 kg of gold was sold in Gujarat during the last Dhanteras (Oct-2022). The traditional value of gold and its historical significance contribute to its prominence in weddings and auspicious occasions throughout India, including Porbandar.

Gold rates in Porbandar and other parts of India may fluctuate periodically in response to international trends, inflation, and currency rates. Read on to discover Porbandar's gold rates and other crucial aspects of this investment.

22K & 24K Gold Rates Per Gram in Porbandar

24K
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GramYesterdayToday
1gm
5,748.00
0.00 (0.00%)
5,748.00
0.00 (0.00%)
8gm
45,984.00
0.00 (0.00%)
45,984.00
0.00 (0.00%)
10gm
57,480.00
0.00 (0.00%)
57,480.00
0.00 (0.00%)
100gm
5,74,800.00
0.00 (0.00%)
5,74,800.00
0.00 (0.00%)

Alternatives to Physical Gold

Physical gold is not the only way to invest in gold. When it comes to investing in gold, coins and bars aren't the only option. Physical gold purchases incur costs, including making charges and storage fees, which are avoidable through investing in alternatives.

The following are some alternative ways to invest in gold.

Gold Exchange-Traded Funds (ETF)

You will need a Demat account to start investing in gold ETFs. Similarly to mutual fund units, gold units are dematerialized. One unit of a gold ETF is typically equivalent to one gram of gold, backed by 99.5% pure gold. Gold ETFs are open-ended funds, which means they do not have a lock-in period.

Sovereign Gold Bond (SGB)

An SGB is a government security issued by the Reserve Bank of India (RBI). It is offered in multiples of grams with a minimum investment of one gram.

With SGBs, your gold quantity remains protected, given that you will receive the current market price when you redeem them. The SGB offers an annual interest rate of 2.5%, credited twice a year.

Historical gold rates in Porbandar in last 10 days

1 gram
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Day24K Gold22K Gold
04 Feb 2023
5,748.00
0.00 (0.00%)
5,474.00
0.00 (0.00%)
03 Feb 2023
5,748.00
0.00 (0.00%)
5,474.00
0.00 (0.00%)
02 Feb 2023
5,748.00
90.00 (1.60%)
5,474.00
85.00 (1.58%)
01 Feb 2023
5,658.00
26.00 (0.47%)
5,389.00
25.00 (0.47%)
31 Jan 2023
5,632.00
-16.00 (-0.28%)
5,364.00
-15.00 (-0.27%)
30 Jan 2023
5,648.00
0.00 (0.00%)
5,379.00
0.00 (0.00%)
29 Jan 2023
5,648.00
0.00 (0.00%)
5,379.00
0.00 (0.00%)
28 Jan 2023
5,648.00
16.00 (0.29%)
5,379.00
15.00 (0.28%)
27 Jan 2023
5,632.00
-63.00 (-1.10%)
5,364.00
-60.00 (-1.10%)
26 Jan 2023
5,695.00
42.00 (0.75%)
5,424.00
40.00 (0.75%)

Gold vs Mutual Funds

Here is a comparative analysis of gold and mutual funds as popular investment options:

Gold

  • Price affected by global trends, inflation, currency fluctuations, stock market fluctuations, and interest rates
  • Highly liquid asset
  • Price rises during stock market downturns
  • Does not offer compounding benefits
  • Reasonable returns dependent on value at time of liquidation
  • Appreciates in value over time but does not generate income
  • Capital gains subject to tax benefits with indexation

Mutual Funds

  • Market-linked investment instruments
  • Value decreases during economic downturns but stabilizes after market recovery
  • Returns vary based on type
  • Typically yield 10-12% per year
  • Offer compounding returns through "Growth Funds"
  • Generate income through SWP or Systematic Withdrawal Plans
  • Tax benefits available only for ELSS under Section 80C of Income Tax Act of 1961

Loan

  • Value varies based on financial institution (up to 80%)

Weekly & monthly gold rate in Porbandar
1 gram
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7 Days
30 Days
3 Months
6 Months
24K GOLD
22K GOLD

Comparison Between 24K and 22K Gold

Here is a comparative analysis of 22K and 24K gold for your perusal:

24K Gold

  • Contains 99.9% pure gold
  • Stamped with 999-hallmark
  • Too soft to be used alone for jewelry making
  • Brittle and fragile due to lack of other metals
  • Commands a higher price compared to 22K gold

22K Gold

  • Contains 91.67% pure gold and 8.33% other metals (e.g. copper, silver, nickel, zinc)
  • Ideal for jewelry making due to the presence of other metals that make it more resilient and durable
  • Stamped with 916-hallmark
  • Has a lower cost compared to 24K gold

Trend of Gold rates in Porbandar

1 gram
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Day24K Gold22K Gold
01 February 202356585389
07 February 202300
Highest57485474
Lowest56585389

How is the Purity of Gold Evaluated in Porbandar?

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.

  1. 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.

  2. 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.

  3. 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.

FAQs of Gold price in Porbandar

Why does the Gold price in Porbandar keep changing?

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How many grams of gold is one 'tola?'

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What are the taxes charges on gold purchases in Porbandar?

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What is the most important thing to check when buying gold?

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How does each hallmark represent the gold's purity?

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