Gold Rate Ujjain
Last updated on: 8th Mar 2023 06:30 AM
Ujjain, also called the "Greenwich of India," is an important city in Madhya Pradesh. You'll find numerous temples (belonging to different eras) in Ujjain. That's why it is also called the "Temple City". The Kumbha Mela is organised in Ujjain every 12 years. You will find the famous Mahakaleshwar Jyotirlinga temple in the city centre. Ujjain is known for its services sector, spiritual tourism, agriculture, and small-scale industries. It is currently being developed as a smart city.
People in this city buy physical gold during wedding ceremonies and auspicious occasions like Akshaya Tritiya, Diwali, Dhanteras, etc. However, investors in Ujjain also prefer to invest in alternatives to physical gold, such as gold exchange-traded funds (ETFs), digital gold, gold mutual funds and sovereign gold bonds (SGBs). This is mainly because gold preserves wealth, especially during times of economic or political uncertainty.
If you want to buy gold in Ujjain, you should track its price trends. It will help you get the best deal. Continue reading to learn the per-gram price of gold (as per purity levels) and other aspects related to the gold rate in Ujjain.
You often find 916 hallmarked gold items when you visit jewellery showrooms in Ujjain. What does that mean? It means that the ornament is made of 22-karat gold, which is also known as 916 gold (owing to its purity of 91.6%). Gold assaying and hallmarking are carried out in India by the Bureau of Indian Standards (BIS).
The next time you visit a jewellery showroom in Ujjain, check the following to know that you are getting the best quality 22-karat gold:
Fact #1: Naturally Yellow
Gold is the only known metal on earth, having yellow as its natural colour. If you see any other metal having a yellowish colour, it means that the metal has been oxidised with other chemicals.
Fact #2: Extreme Ductility
Pure gold is a soft metal and highly ductile. You can stretch 1 ounce (28 grams) of gold into a 5-mile (8 km) long gold thread. The high ductility of pure gold allows the creation of gold threads used for embroidery.
Fact #3: Most Malleable Element in the Periodic Chart
Malleability is a property that helps to measure how easily a metal can be hammered into a thin sheet. Gold is so malleable that 1 ounce (28 grams) of gold can be hammered to create a 300 sq. ft. sheet of gold.
Fact #4: Transparency and Greenish Blue Colour
You can also create gold sheets that are so thin that they become transparent. If you look at a very thin sheet of gold, it may appear to have a greenish-blue colour. This happens because pure gold reflects two colours strongly, and these colours are yellow and red.
Fact #5: Wide Array of Usage
Pure gold is used in various applications other than a symbolic and monetary value, such as:
|Day||24K Gold||22K Gold|
|09 Mar 2023|
|08 Mar 2023|
|07 Mar 2023|
|06 Mar 2023|
|05 Mar 2023|
|04 Mar 2023|
|03 Mar 2023|
|02 Mar 2023|
|01 Mar 2023|
|28 Feb 2023|
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.
24-karat gold is the purest form of gold available in Ujjain. It has a purity of 99.99%, and traces of no other metal can be found in it. Since it is the highest purity level, its price is also higher than other purity levels of gold.
22-karat gold has 91.67% pure gold. The remaining 8.33% contains metals such as zinc and copper. These metals are combined with pure gold to make it harder, allowing gold artisans to create intricate designs of ornaments. Most of the ornaments in Ujjain jewellery stores are 22-karat gold.
There are various other gold purity levels available in Ujjain:
The most common metal mixed with gold is silver. Other metals such as copper, nickel, platinum, zinc, cadmium and iron are also incorporated to craft these different gold types.
Has the Goods and Services Tax (GST) increased gold rates in Ujjain?
Yes, the GST has caused the gold rates to increase. The current rate of GST is 3%. It applies to the supply, manufacturing and purchase of the material. GST is applicable on making charges as well. Making charges constitute the cost of converting raw gold into jewellery.
What are the alternatives to investing in physical gold?
Which are the best jewellery shops to buy gold coins and bars in Ujjain?
Can I make jewellery items using 24-Karat gold?
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.