Gold-the only yellow metal found on earth is considered an auspicious item in every household. The ever-increasing value of gold makes it a safe haven i.e. an investment that retains or increases the value during times of crises. Just like gold, gold rate has also been an area of concern.
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At Vaibhav, you can find 100% hallmarked gold coins starting from as low a 1gm to 100gms ingot. We cater gold coins to retail as well as large corporates for the purpose of gifting. Plain gold coins, religious figurines or customized imprints commemorating your milestones- we have them all.
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When you order gold coins with us, be rest assured on quality, delivery, and packaging. Have no qualms as they come in tamper proof packing with zero physical touch, ensuring we preserve the sanctity of the gold you purchase.
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Gold Rate and Price Trend in India
With so many online sources, we often tend to get confused about the genuine results for our search for “prevailing or today’s gold price or gold rate today” online. We are practically shown a bulk of websites specifying gold rate and silver rate today.
At Vaibhav, you can subscribe to get gold rate alter on a regular basis and to keep a watch on the ups and lows of the gold price. If you intend to buy gold in the short term, then it is advised to keep tracking the gold price. A sudden drop in the gold price can be immediately used to your advantage, by shopping your Jewellery on that day.
History of gold in India
India has a rich and illustrating history with a strong connection to gold. There is evidence that gold was an extensive medium of the trade from as early as Indus Civilization or even before. Gold back then was traded with other essential items such as food, clothing, and accessories in the silk route, the gold rate back then was not pegged to currency as the gold rate today is. Today gold rate in India is highly susceptible to market conditions and various other factors. The Indian gold rate today is largely dependent on global markets. Also, the gold rate in Mumbai may vary from the gold rates in Bangalore today. With so many variations a gold chain may be priced differently in various parts of India
Importance of Gold in India
Gold has always played a key role in the Indian economy as well as the Indian household. Today the gold rate is closely watched along with many other things by the majority of the Indian household men and women as gold is a valued investment avenue for Indians. Highly dynamic gold prices today do not seem to change the mindset of the Indians rather only makes it stronger leading to the popularity of gold as an investment.
Gold Rate Today
Unlike the previous years where the gold rate was growing at a stable rate, due to multiple factors now it is highly vulnerable to global phenomena’s like market booms or global meltdowns, new trade pacts or ongoing trade wars, etc resulting in the spike of gold rate every time a global event occurs.
Seeing the gold rate in different locations often leaves us confused. Secondly, we can notice that there are slight variations in the price ranging from a difference of anywhere between Rs. 50-75/-. These typical price variations are as a result of the Jewellers bullion association and location. Ideally, the current gold rate always depends on the market value that it is traded at.
Demand for Gold in India
India is one of the biggest markets for gold and a leading player is driving growth in gold demand. Gold has a central role in India's culture and it is considered as a store of value, a symbol of status and wealth and a fundamental part of many indian rituals. Jewellery among other things like a gold ring is also used for gifting among close relatives. Among the Indian's rural population, a very deep affinity for gold & silver goes hand in hand with practical considerations of the security and portability of jewelry as an gold investment for the future.
Why there is fluctuation in Gold Rate?
Gold price in India fluctuates because of several reasons: Here are the top factors to explore as to why the gold rate in India is very dynamic:
Demand and Supply: A basic principle of economics. When demand exceeds supply, the current gold rate rises. When supply exceeds demand, gold prices drop. Regardless of gold rate fluctuations or even rising gold prices, gold is still a safe investment.
Government policies: All government policies have a direct or indirect impact on gold. For example an import duty of 3%levied on gold had a major impact in recent times leaving them to fluctuate.
Currency changes: Developing economies like India’s gold rate today is largely dependent on international currencies; likewise a small change in them also largely impacts strengthening or weakening the gold prices.
International Relations: Gold is always known as “crisis metal”. It is largely looked up to during wars, geopolitical tensions, and international ties. Any slight disturbance would negatively impact gold prices.
Investment Trends: Another closely monitored factor responsible is investment trends. People always change their investment strategy based on liquidity and return on investment. Though gold is an asset it may not be fancied by all- some may invest in the bond market while others may like stocks. So, investor mood and mode of savings also fluctuate gold price.
How Today Gold Rate in India is calculated?
Gold price in India today differs from city to city example gold price in Pune today may not be the same as the gold price in Hyderabad. Though the difference is very marginal, this is because of the various gold associations each Jeweller or each retailer tends to follow. For example, a Jeweller can follow the LBMA(London Bullion market association) rates while others may follow MJDMA (Madras Jewellers & diamond merchants association) rate. Ideally, the international benchmark rates prevailing on that particular day are taken into account along with GST, purity of gold, and then the gold price is arrived at.
Gold Price in India
Live gold price in India can be seen in bourses during the active market hours. You can also view the live gold rate online. There is also MCX gold price you can see during the market hours. Ideally, we get to see the price of 10gms but many retail Jewellery websites and bullion associations also give a gold rate per gram.
The gold rate is always been closely monitored globally, as it has been a major source of investment for many Indians living in India and internationally too. Historical gold rate trends since the 1960s in India had always been uphill and positive. This is the major reason why it is a preferred investment avenue for many Indians. They consider this dear metal as security for the future.
Why the Gold Price will be increasing?
Since gold is mostly imported commodity in India, the depreciation of the rupee vis-a-vis the US dollar of around 7 percent since September 2019, this pushed the gold prices today in India even higher.
Important Facts on gold
Today the gold rate is pegged at a premium because of its wide industrial and high-end fashion segments. We are all mostly reliant on gold for a few of its properties and versatile attributes, making this metal indispensable in engineering and electronics. Its applications in nanomaterials are also offering new solutions to a range of global health and environmental issues.
Below are some of the unique properties of gold:
Exceptionally malleable and ductile
Resistant to corrosion
Future of Gold Price in India
916 gold rates today have skyrocketed in comparison to what it was exactly a year ago. With prevailing economic ups and downs the gold price is bound to be increasing gradually hitting an all-new high every time there is a market correction. Once a sense of normalcy restores, the price in the 22k gold rate would see downward movement before it settles on a number. Indian gold rate today is watched with close interest by women across the globe, even a small dip in gold rate would lead to heavy purchases by Indians as they want to seize the perfect moment to buy. Whether it is a small ring or a striking pair of gold earrings, the price of gold is a prime consideration that one looks at before purchasing.
22 Carat Gold Rates
As gold is a highly malleable metal, it cannot be used in its purest form for making Jewellery. Hence, it is mixed with one of the alloys i.e. copper or silver to make it hard and thereby shape them to the desired design. The gold Jewellery made is hence made out of 22K gold- All the Jewellers calculate the present gold rate based on the purity along with making charges and GST to arrive at the final gold rate.
Various gold purity levels
Gold purity is determined using the karat system. Depending on the ratio of pure gold to other alloys, the gold used in engagement rings and other jewelry is usually categorized as 10k, 14k, 18k, 22k, and 24k.
Difference between 18k, 24k and 22k gold price
The main difference between various karats of gold is purity. While the gold rate 24k is the highest, the price of 1gram gold rate is always calculated primarily by considering the purity. You can also notice that when you buy gold Jewellery online, the gold rate 22K is also calculated as per the prevailing 22carat gold price.
24 Carat Gold is considered to be the purest form of gold i.e. 99.9% purity with no alloy addition. On the other hand ornament, the gold rate is lesser in comparison to 24K gold, this is because there is an alloy addition to bring the ornament to life. In most of the online sources, 10gms gold price is mentioned or alternately 1gm gold rate is mentioned.
An 18K gold Jewellery is 75% gold and 25% other metals like copper and silver. They are usually used for diamond Jewellery for the strength of holding the diamonds. 22Ct gold price today is calculated by taking the 24K gold as a benchmark and is thereby discounted to 22Ct.
Many of the Jewellers projects 22Carat gold price today on their website or onscreen displays in the outlets, this gold rate today 22K is the prevailing price of gold on that particular day.
24 Carat Gold Rates
24Ct gold price today is often a mix of different factors as discussed earlier. However, while buying as a customer we may need to understand a few basic things such as:
How 1 Carat Today Gold Price in India is Determined?
There are so many factors that result in calculating the 22ct gold price today. Few of the factors taken into consideration while arriving at 1gram gold rate in India today are:
International factors such as a slowdown in the economy, oil prices, international trade policies
Based on 24carat gold rate today
How to Measure Purity of Gold?
Karat also spelled as carat is the measure of purity and finesse of gold. A 24Ct gold pendant or coin is said to be the purest of all. There is also a gold purity regulating body - Bureau of Indian Standards (BIS), a government body, certifies the purity of gold bought by you. The complete process of certifying the gold purity called is hallmarking.
According to the BIS website, there are two principal objectives of the hallmarking scheme: a) To protect the public against adulteration b) To obligate manufacturers to maintain legal standards of fineness/purity.
1gm gold rate in India today differs from place to place, do ensure to buy a certified BIS hallmarked coins and before buying check for “22carat gold price today”.
Recent Trends in Gold Rate and Prices
Learning the trends in today’s gold rate gives us the insight to predict the future of the gold rate in India. The gold rate today has been constantly growing in exponential numbers; it is often keen to know the factors behind this growth.
What is the BIS hallmark and how important is it?
The BIS (Bureau of Indian Standards) hallmark is credible proof of the quality and purity of a gold item manufactured in India. It confirms that a particular gold item adheres to the standards of purity laid by the BIS. In public interest according to the BIS website, there are two main objectives behind hallmarking of gold in investors perspective
To protect the public against adulteration
To obligate manufacturers to maintain legal standards of fineness/purity
Purchasing BIS hallmarked jewellery ensures that the gold is authentic, pure having a standard resale value too. Hence, it is important to look for BIS hallmark while you are purchasing your precious gold mangalsutra or that coveted gold bracelets or any piece of gold Jewellery for that case.
Hallmark specified on gold Jewellery will define the credibility of the purity of gold. It tells you the percentage of purity, among other things. The percentage of purity is important as the price that you pay hinges on it. Also, hallmarked Jewellery is much easier to sell since the buyer is assured of the quality.
Why Invest in Gold Today?
There is no best time to invest in gold, however, it is important to diversify our investment portfolio and keep a piece of the chunk in gold, for the shine of its ever appreciating rate please everyone. The current gold rate, when compared to our investment, is always on a higher side, this is the reason why one needs to invest in gold religiously given future contingencies.
Gold prices in India today doffer from place to place example today gold rate in Kerela may differ from that of gold rate in Hyderabad, however, the difference may not be more than a few hundred rupees. But, the few hundred rupees make a difference if we are buying a heavy item such as a gold necklace. Hence, it is wise to look into the price rends and then make a purchase.
Factors Considered in Calculating Gold Price Today
While many factors influence the gold rate in India, here are the few which impact the gold rates to a large extent:
The central bank's decision
The Jewellery demand
Types of Gold to Purchase
While the gold prices in India fluctuate, and we wait for the drop-down, a little thought can also be put on what forms of gold to buy in such a drop time. Here are a few forms of gold that you can eye at:
Gold Coins: Gold coins come in different denominations starting from as low as 1gm. A gold ingot, however, comes in only 24ct in a denomination of 100gms or 1kg. You can find them in 24ct and also in 22ct, before buying you can look for 22ct gold price today and look for a cheaper place to buy. You can find gold coins in banks or at any retail Jewellery store.
Ornamental gold: While the gold coins come in 24ct purity the ornamental gold is predominantly either 22ct or in 18ct purity. This is another way of accumulating gold. The price is as per the gold price in India today.
When is the right time to buy gold in India?
Keep a close watch on gold prices today, the day there is a dip in the live gold rate then we can immediately make a purchase. Otherwise, gold rates on festivals like Diwali, Dhanteras, Akshaya Tritiya tend to be on a lower side considering the heavy purchases, these festivals days can be best utilized to buy gold. Alternately, when you have a considerable savings watch for gold rate today online or the live gold price and make your purchase.
At present Gold is a great investment option. Financial experts for long have always been pushing the public to diversify our investment options. Amongst the various avenues such as real estate, mutual funds, stocks, fixed deposits, etc, gold is one of the most liquid. Also, gold is a very tangible item due to which we can all relate, touch, feel and adorn it, making it a pride investment. This indirectly boosts our confidence too.
How to sell gold in India?
Gold can be exchanged at any retail Jewellery outlet in place of a new gold mangalsutra design or any other item of your choice. It can be exchanged with todays gold rate, excluding some nominal amount of making charges.
How to get an update on today gold rate?
One can simply search for gold price in India or gold rates in India or a simple gold rate per gram today. You can also get an update if you subscribe to an email update for the gold rate today. You can get the latest gold rate daily, ideally, one gram gold price is given. Today, one can buy gold on EMI also.
At Vaibhav updated gold price and current silver rate are available online. Our gold prices are in line with the Madras Jewellers & Diamond Merchants association famously called as MJBMA. They are updated twice a day, once in the morning and second in the afternoon. At Vaibhav you can find gold rate per gram today at prevailing prices, you can also find current 22Ct gold price and 18K gold rate, per gram silver rate and per gram gold and platinum rates too.
We carry the legacy and trust of 25years in the Jewellery business. We have a retail space of more than 50,000 sqft spanning two states with a strong presence of 12 stores. All the Jewellery is BIS hallmarked. Along with Jewellery purchase, we provide a host of related services to our customers such as free gemological consultation, old gold exchange, Jewellery cleaning & servicing, Jewellery concierge services, private viewing facility, and an alternate online purchase options.
Vaibhav is home to authentic traditional and contemporary designs along with 24k gold coins, silver articles, diamond Jewellery, and Platinum Jewellery.