Gold rate in Vidisha

Vidisha is an important historical town located in Madhya Pradesh near the capital city of Bhopal. It is a regional cultural hub and houses several critical religious places that attract pilgrims worldwide. As per cultural traditions, locals and travellers purchase gold to be offered as a present to their deities. Gold is also a popular gifting option during auspicious events, especially weddings. As a result, the demand for gold in Vidisha has experienced steady growth.

Various jewellers in and around Vidisha offer a range of gold products for the local population. Such is the popularity of gold here that many investors from Vidisha have now started investing in both physical and paper gold. If you are also an investor from Vidisha and want to invest in this precious metal, read on to learn more about the key aspects of this investment.

How to Buy Gold in Vidisha?

Here are the options available for you to purchase gold in Vidisha:

Paper Gold: If you want to purchase paper gold, you must have a Demat account. Then you can purchase or sell paper gold on online platforms that offer investments in spot exchanges, commodity exchanges, or ETFs. Alternatively, you may also invest in gold mutual funds and Sovereign Gold Bonds issued by RBI.

Physical Gold: The best option is to visit a local jeweller if you want to purchase physical gold. Many jewellers in Vidisha deal in gold products like coins, bars, ornaments, and jewellery. The seller will charge some making charges and applicable taxes on top of the market rate of gold. Otherwise, you can also opt for online stores selling gold objects through their website.

Paper Gold vs Physical Gold

Many investors debate about the superiority of paper gold or physical gold are ongoing. Here is a brief analysis for your perusal:

Storage: Paper gold is easier to store as compared to physical gold. Paper gold is stored as units in your online account, while physical gold requires a safe and secure storage place like a bank locker or personal safe.

Trading: If you want to do gold trading as a source of income, then paper gold is a better option. Selling and buying physical gold is time-consuming, while paper gold can be bought and sold with a few clicks.

Suitability: Paper gold is best for trading as it allows you to benefit from daily price changes. Physical gold is better for long-term investors who want to have physical possession of the asset.

Impact of GST on Gold Rates in Vidisha

As per the latest ruling of the GST council, a GST of 3% is applicable on gold. Hence, you must pay all other charges for gold with GST. While the GST has pushed up the gold prices further in Vidisha, the demand shows no signs of abating. As the demand for gold increases, you can expect the prices to increase even more in the coming few months.

Other than this, a 5% GST is also applicable on the making charges for gold jewellery and ornaments.