- About Coverfox
Gold is often regarded as a safe haven. Many people use it to protect against inflationary conditions and as a safety measure during instances of political unrest. The demand for this precious metal has been witnessing a steady increase over recent years.
Gold can be owned physically - as jewellery, bars and coins, or in paper, like gold ETFs and sovereign gold bonds. Its price varies across cities as a result of local market factors such as supply and demand, state taxes and transportation charges (of physical gold). This article focuses on how lucrative gold investments are in the city of Rajahmundry and its rates over the recent months.
A number of factors have an impact on the gold rate in Rajahmundry. Here is a look at a few:
To buy physical gold i.e. jewellery or coins, an individual would simply need to visit a jewellery shop and make the purchase. It is generally advised to opt for coins since jewellery includes making costs, which the buyer will not be able to recover when selling. In case of gold ETFs, the investor will need to have a Demat account. Sovereign gold bonds are also listed, and investors can buy them in the same manner in which listed shares are bought.
A few factors to keep in mind before buying physical gold are as follows:
Trend of Gold Rate in Rajahmundry for September 2019
|Lowest gold price on||19 Sep 2019||Rs. 37,623|
|Highest gold price on||04 Sep 2019||Rs. 39,609|
|Gold price on||01 Sep 2019||Rs. 38,779|
Trend of Gold Rate in Rajahmundry for August 2019
|Lowest gold price on||01 Aug 2019||Rs. 34,834|
|Highest gold price on||29 Aug 2019||Rs. 39,200|
|Gold price on||01 Aug 2019||Rs. 34,852|
|Gold price on||31 Aug 2019||Rs. 38,782|
Trend of Gold Rate in Rajahmundry for July 2019
|Lowest gold price on||01 Jul 2019||Rs. 33,745|
|Highest gold price on||19 Jul 2019||Rs. 35,446|
|Gold price on||01 Jul 2019||Rs. 33,745|
|Gold price on||31 Jul 2019||Rs. 35,106|
Trend of Gold Rate in Rajahmundry for June 2019
|Lowest gold price on||27 Jun 2019||Rs. 34,153|
|Highest gold price on||26 Jun 2019||Rs. 34,796|
|Gold price on||01 Jun 2019||Rs. 32,227|
|Gold price on||30 Jun 2019||Rs. 34,171|
The GST applicable on gold is 3%. Prior to the implementation of GST, the tax charged on gold was - 1% service tax and 1% VAT. Besides GST, there is an additional 5% tax levied on making charge.
A gold ornament that has been hallmarked by Bureau of Indian Standards will have the BIS logo. This certifies that the piece of jewellery meets the standards laid by the BIS. However, BIS hallmarking is not compulsory, and some jewellers provide their in-house hallmarking of jewellery. Prior to purchasing any gold jewellery, individuals are advised to check with jewellers whether they offer BIS hallmarked ornaments.
The different ways by which people can buy gold include:
As seen from the points mentioned above, it can be concluded that gold investments are worthwhile since they act as a hedge against inflation. The returns, over a period of time, shall be in line with the rate of inflation. Another reason why many financial experts recommend this route of investment is because of the fact that gold is negatively correlated to equity investments. A couple of years back, it was observed that the equity markets were not performing too well. However, gold was performing well. Thus, including gold to one’s portfolio mix can help bring down the overall volatility of the portfolio.
What is per gram Gold Rate in Rajahmundry?
According to the GoldPriceIndia website, the gold price for 24 karat gold is Rs. 3,763 per 1 gram.
What is 10 gram Gold Rate in Rajahmundry?
According to the GoldPriceIndia website, the gold price for 24 karat gold is Rs. 37,627 per 10 grams.
What is 100 grams Gold Rate in Rajahmundry?
According to the GoldPriceIndia website, the gold price for 24 karat gold is Rs. 3,76,270 per 100 grams.