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In India, many individuals consider gold as one of the best investment options, given that it is a good hedge against inflation. The yellow metal can not only be held in the form of jewellery, but also as gold bars, gold coins, gold ETFs and sovereign gold bonds. When comparing the rates, one can find a difference in the prices across cities on account of local market factors such as its supply and demand, state taxes and transportation charges (of physical gold). This article focuses on how lucrative gold investments are in the city of Bhopal and its rates over the recent months.
A number of factors have an impact on the gold rate in Bhopal. Here is a look at a few:
One should always stay updated about the rate of gold, as even a small variation can result in a major loss. The gold rates of today are very high when compared with that of ten years ago. Before buying gold, individuals are advised to compare the different rates charged by jewellers in the city. The bigger, more prominent ones tend to charge more in making charges as compared to the smaller ones.
To buy gold ornaments, one can simply head to a jewellery store and make the purchase. In case of gold ETFs, the individual can ask his or her broker to buy after opening a demat account and a trading account. Government-issued sovereign gold bonds are also listed, and people who seek to buy them can do so in the same way that listed shares are bought.
A few factors to keep in mind before buying physical gold are as follows:
Trend of Gold Rate in Bhopal for September 2019
|Lowest gold price on||21 Sep 2019||Rs. 38,340|
|Highest gold price on||06 Sep 2019||Rs. 40,184|
|Gold price on||01 Sep 2019||Rs. 39,549|
Trend of Gold Rate in Bhopal for August 2019
|Lowest gold price on||02 Aug 2019||Rs. 35,502|
|Highest gold price on||27 Aug 2019||Rs. 40,175|
|Gold price on||01 Aug 2019||Rs. 35,808|
|Gold price on||31 Aug 2019||Rs. 39,593|
Trend of Gold Rate in Guntur for July 2019
|Lowest gold price on||04 Jul 2019||Rs. 34,350|
|Highest gold price on||26 Jul 2019||Rs. 36,147|
|Gold price on||01 Jul 2019||Rs. 34,894|
|Gold price on||31 Jul 2019||Rs. 35,790|
Trend of Gold Rate in Guntur for June 2019
|Lowest gold price on||29 Jun 2019||Rs. 34,870|
|Highest gold price on||28 Jun 2019||Rs. 35,404|
|Gold price on||01 Jun 2019||Rs. 32,609|
|Gold price on||30 Jun 2019||Rs. 34,890|
Prior to the GST being implemented, the tax on gold was fixed at 1% service tax and 1% VAT. The GST now levied on gold is 3%. Additionally, there is a tax of 5% on making charge.
Hallmarking helps buyers identify if the gold jewellery that is sold to them is real or fake. Gold ornaments that have been hallmarked by the Bureau of Indian Standards will contain the BIS logo. The hallmark serves as proof that the gold has been verified at the bureau’s laboratories. However, it is essential to note that BIS hallmarking is not compulsory. Some jewellers offer their in-house hallmarking of jewellery. Prior to buying gold ornaments, buyers are advised to check with the jewellers if they offer BIS hallmarked ornaments.
The different ways by which a user can buy gold include:
On the basis of the points stated above, it can be concluded that investing in gold is worthwhile. It acts as a good hedge against inflation, and over a period of time, its returns shall be in line with the rate of inflation. Another reason why gold investments are increasingly preferred is because it is negatively correlated to equity investments. Gold therefore is an essential component of a diversified (investment) portfolio.
What is per gram Gold Rate in Bhopal?
According to the GoldPriceIndia website, the price for 24 karat gold is Rs. 3,876 per 1 gram.
What is 10 gram Gold Rate in Bhopal?
According to the GoldPriceIndia website, the price for 24 karat gold is Rs. 38,761 per 10 grams.
What is 100 grams Gold Rate in Bhopal?
According to the GoldPriceIndia website, the price for 24 karat gold is Rs. 3,87,610 per 100 grams.