What is a Gold Rate

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There is a lot of gold in this world. It can be melted and molded into gold coins and jewelry. But the real issue falls down when we have to supply it. As there are no gold mines in India so we bring in the gold from different countries. Along with the supply, there’s a huge transportation cost added with it which makes it expensive. And import duties act as a cherry on top of the cake which increases the gold price so much.

So by the time the gold reaches us, there are a lot of charges that are added to it, some of them are listed below:-

  1. Making Charge
  2. GST
  3. Transportation Cost
  4. Import Duties
  5. Other Taxes

Which makes it so much expensive. Since the gold price changes daily, it can vary from one place to another. So the gold price of every state, city, and country is different. Gold rate is basically the value of your gold today. There are so many factors that affect it, and due to which the gold rate fluctuates daily. Though a lot of Indians use gold as a non-performing asset and use it in times of need, whereas others may use it for investment purposes. You can invest in gold through exchanges and brokers in form of gold certificates, gold funds, and gold ETFs without obtaining physical gold. Another form of investment in gold is Xetra gold. These can be purchased on the stock exchange and transferred like shares.

The gold rate today mostly depends on tariffs, but these are unpredictable at the moment. Import duties and tariffs are changing and are feeding into a whole range of things. The gold rate is really important as it’s no longer just a commodity. New investors are experimenting and investing in gold more now. Due to COVID-19, the Gold Rate In Raipur increased a lot, and due to which there was a huge demand for gold loans. Gold can prove to be a perfect way to diversify your investment and provide excellent returns. Although the gold rate is somewhat usually the same in some countries like India, Brazil, China, Russia, and Australia. So you can do both national and international investment without much worry about returns.

There are some points that you should keep in while buying gold:-

  1. Location and Quality:- The price usually varies due to location and gold's quality. Even though golds are differentiated according to their grades and weight, you can still find the price suitable for you in this free market. For example:- So if City A is selling 10kg 22 karat gold at INR 47000 there can be a city that'll sell the exact 10kg 22 karat gold for INR 45000. But if City A is a city that is famous for its gold quality may sell you 24K gold for INR 50000 and there will be another city that will sell you at a cheaper rate. So sometimes the location doesn't matter but instead the quality matters.

  2. Designs:- Gold pieces or ornaments with heavy designs or some precious stones embedded in them usually increase the overall price. So you can ask your dealer to give you the amount of both the metals and stones separately so that everything will be transparent and you won't have to face any loss.

  3. Standardized gold:- There are a lot of types of gold present in this market. So be sure to only buy standardized gold as they give assurance of the purity of its gold components. And it makes it easier if you ever want to sell or take a loan against it. So if you buy non-standardized gold you may face loss because the gold can turn out to be fake or of less karat.

  4. Invest in pure gold:- It is advisable to buy 24 karat gold coins because they act as a perfect investment. And if you want to buy something that'll help you in the long run and will never change or depreciate then you should buy the gold with the highest value. Because then you can be assured of its purity and will also help you get 100% of its value when sold.

Conclusion:-
As the gold rate is increasing it is advisable to invest it somewhere. Because keeping it in your lockers won't bring in any extra money. And during this pandemic, a lot of people are investing and making stocks their primary source of money.

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