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Many investors across India buy gold because it acts as a safe haven and hedge against inflation. Not only can the yellow metal be held in the form of ornaments, but also as gold coins, gold bars, gold ETFs and sovereign gold bonds. On comparing the rates of gold, one can find that it varies across different cities. This is due to local market factors like 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 Guntur and its rates over the recent months.
A number of factors have an impact on the gold rate in Guntur. Here is a look at a few:
It is important for one to always stay aware and updated about the rates of gold, as even a minute can give rise to a major loss. The gold rates of today are very high when compared to that of a decade ago. Individuals who are looking to buy gold are advised to first compare the different rates charged by jewellers in the city. The top jewellers are likely to charge higher in making charges.
In order to purchase gold ornaments, an individual can simply visit a jewellery shop and make the purchase. For gold ETFs, the entity can ask his or her broker to buy after opening a demat account and a trading account. Sovereign gold bonds - issued by the government - are also listed, and those who wish to buy them can do so in the same way listed shares are bought.
A few factors to keep in mind before buying physical gold are as follows:
Level of purity: Before buying gold, the first thing that one should check is its purity. Karat is the term used to denote the purity of gold. Most of the gold jewellery sold are 14, 18 or 22 karats. The purity of the gold has an impact on the rate of gold.
Making charges: The labour cost involved is referred to as making charges. This can be fixed as a flat making charge per gram (of gold) or a percentage of the gold value. It is necessary to note and compare the making charges prior to buying gold ornaments.
Hallmarking: The intent of hallmarking is to serve as proof of the gold’s purity. It is recommended to look for BIS hallmark at the time of buying physical ornaments. The Bureau of Indian Standards has been founded for the purpose of making sure that buyers do not get cheated when they buy gold.
Trend of Gold Rate in Guntur for September 2019
|Lowest gold price on||20 Sep 2019||Rs. 37,591|
|Highest gold price on||05 Sep 2019||Rs. 39,602|
|Gold price on||01 Sep 2019||Rs. 38,775|
Trend of Gold Rate in Guntur for August 2019
|Lowest gold price on||01 Aug 2019||Rs. 34,823|
|Highest gold price on||29 Aug 2019||Rs. 39,195|
|Gold price on||01 Aug 2019||Rs. 34,887|
|Gold price on||31 Aug 2019||Rs. 38,807|
Trend of Gold Rate in Guntur for July 2019
|Lowest gold price on||02 Jul 2019||Rs. 33,757|
|Highest gold price on||19 Jul 2019||Rs. 35,443|
|Gold price on||01 Jul 2019||Rs. 33,759|
|Gold price on||31 Jul 2019||Rs. 35,111|
Trend of Gold Rate in Guntur for June 2019
|Lowest gold price on||30 Jun 2019||Rs. 34,160|
|Highest gold price on||29 Jun 2019||Rs. 34,358|
|Gold price on||01 Jun 2019||Rs. 32,211|
|Gold price on||30 Jun 2019||Rs. 34,180|
The GST levied on gold is 3%. Additionally, there is a tax of 5% on making charges of gold ornaments. Before the new tax regime was implemented, the tax on gold was 1% service tax and 1% VAT.
A hallmark in a gold ornament is a guarantee of the yellow metal’s purity. Those ornaments hallmarked by the Bureau of Indian Standards will have the BIS logo. This indicates that the gold has been verified at the National Standard Body’s laboratories. It is however, vital to note that BIS hallmarking is not compulsory. Some jewellers in the city may offer their in-house hallmarking of jewellery. Prior to buying gold ornaments, buyers are advised to check with the jeweller if they offer BIS hallmarked ornaments.
The different ways by which a user can buy gold include:
Gold is one of the most preferred investments in India. Its strong suits include - high liquidity and inflation-beating capacity. Gold is also resilient during stock market crashes, making the two i.e. gold and equities, negatively correlated. It can therefore be said that the yellow metal is an essential component of a diversified (investment) portfolio.
What is per gram Gold Rate in Guntur?
According to the GoldPriceIndia website, the price for 24 karat gold is Rs. 3,781 per 1 gram.
What is 10 gram Gold Rate in Guntur?
According to the GoldPriceIndia website, the price for 24 karat gold is Rs. 37,807 per 10 grams.
What is 100 grams Gold Rate in Guntur?
According to the GoldPriceIndia website, the price for 24 karat gold is Rs. 3,78,070 per 100 grams.