Last updated on: 8th Mar 2023 06:30 AM
Ratlam, historically known as 'Ratnapuri', is a city located in the Malwa region of Madhya Pradesh. It is famous for its precious gold jewellery, Ratlami Sev, Saros, and many spiritual and tourist attractions.
Like the rest of India, gold is integral to Ratlam's culture and history. During wedding seasons and festivals, the demand for gold increases significantly. On such occasions, people buy physical gold in significant quantities. However, physical gold alternatives, like digital or paper gold, are also getting popular.
Are you planning to invest in gold in Ratlam? Check the gold rates in Ratlam and learn what factors impact them.
Multiple factors impact gold prices in Ratlam. These include the following:
Besides the above domestic factors, a few international elements cause gold prices in Ratlam to fluctuate. Here is an overview:
Gram | Yesterday | Today |
---|---|---|
1 gram | ₹552.10 -1.00 (-0.18%) | ₹552.10 0.00 (0.00%) |
8 grams | ₹4,416.80 -8.00 (-0.18%) | ₹4,416.80 0.00 (0.00%) |
10 grams | ₹5,521.00 -10.00 (-0.18%) | ₹5,521.00 0.00 (0.00%) |
100 grams | ₹55,210.00 -100.00 (-0.18%) | ₹55,210.00 0.00 (0.00%) |
Here are some interesting facts about gold in Ratlam that many of you didn't know:
Day | 24K Gold | 22K Gold |
---|---|---|
09 Mar 2023 | ₹5,521.00 0.00 (0.00%) | ₹5,061.10 0.00 (0.00%) |
08 Mar 2023 | ₹5,521.00 -10.00 (-0.18%) | ₹5,061.10 -9.17 (-0.15%) |
07 Mar 2023 | ₹5,531.00 0.00 (0.00%) | ₹5,070.27 0.00 (0.00%) |
06 Mar 2023 | ₹5,531.00 0.00 (0.00%) | ₹5,070.27 0.00 (0.00%) |
05 Mar 2023 | ₹5,531.00 0.00 (0.00%) | ₹5,070.27 0.00 (0.00%) |
04 Mar 2023 | ₹5,531.00 0.00 (0.00%) | ₹5,070.27 0.00 (0.00%) |
03 Mar 2023 | ₹5,531.00 15.00 (0.27%) | ₹5,070.27 13.75 (0.23%) |
02 Mar 2023 | ₹5,516.00 16.00 (0.29%) | ₹5,056.52 14.67 (0.24%) |
01 Mar 2023 | ₹5,500.00 11.00 (0.20%) | ₹5,041.85 10.08 (0.17%) |
28 Feb 2023 | ₹5,489.00 -16.00 (-0.29%) | ₹5,031.77 -14.67 (-0.24%) |
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.
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.
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.
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.
There are different ways to invest in gold in Ratlam. Traditionally, physical gold like jewellery or coins has been a popular choice. But, now digital and paper gold is in demand too.
Has GST Impacted Gold Rate in Ratlam?
Gold buyers in Ratlam now pay a 3% GST on gold and a 5% GST on making charges. Before GST, consumers spent a tax of 12.4% on every gold purchase. However, post-GST, the effective tax rate (including GST on gold and making charges) is 13.5-14%. Therefore, GST has increased the gold price by around 1.33%.
Which are the best jewellery showrooms to buy gold jewellery, coins, and bars in Ratlam?
Which banks in Ratlam provide gold loans?
What are the highest and lowest rates of 24-Karat gold in Ratlam from August to October 2022?
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.