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Whether you invest in equity or gold, the investing strategy remains the same: you aim to buy low and sell high in order to net a profit. In order to do this for gold investments in Ahmedabad, you will first need to know the gold price in Ahmedabad. This includes knowing the historical prices and the current gold rate. The best way to stay updated on the latter is to look at the live gold price in Ahmedabad.

 

Get the most current information here as we list the 22 Carat gold price in Ahmedabad today as well as the 24 Carat gold price in Ahmedabad.

 

Read on to know how the price of gold is determined and the factors that affect gold rate in Ahmedabad. Also learn the effect of GST on gold and how the price is determined.

Gold Price Per Gram in Ahmedabad

Given below is a table with the 24 Carat gold price in Ahmedabad today and yesterday, with an estimate of the daily price change:

Gram

24 Carat Gold Rate Today

24 Carat Gold Rate Yesterday

Daily Price Change

1 Gram

₹7,380

₹7,347

 ₹33

10 Gram

₹73,800

₹73,470

 ₹330

100 Gram

₹7,38,000

₹7,34,700

 ₹3,300

Disclaimer: These rates are indicative and exclusive of taxes.

22 & 24 Carat Gold Rate in Ahmedabad for Last 10 Days

The next step is to determine what is a good entry and exit point for purchasing gold. Here, knowing the 22-carat gold price in Ahmedabad or the 24 Carat gold price in Ahmedabad today is not enough.

 

In order to ascertain what to do next, you must first know what has happened before. In other words, your investment decision should be based on the historical price of gold. This helps you to identify trends and patterns.


Here is a list of the gold price in Ahmedabad for the last 10 days.

 

Date

STANDARD GOLD 22K

PURE GOLD 24K

1 Gram

10 Gram

1 Gram

10 Gram

Jul 12, 2024

₹6,765.00

₹67,650.00

₹7,380.00

₹73,800.00

Jul 11, 2024

₹6,735.00

₹67,350.00

₹7,347.00

₹73,470.00

Jul 10, 2024

₹6,715.00

₹67,150.00

₹7,325.00

₹73,250.00

Jul 09, 2024

₹6,715.00

₹67,150.00

₹7,325.00

₹73,250.00

Jul 08, 2024

₹6,750.00

₹67,500.00

₹7,363.00

₹73,630.00

Jul 07, 2024

₹6,770.00

₹67,700.00

₹7,385.00

₹73,850.00

Jul 06, 2024

₹6,770.00

₹67,700.00

₹7,385.00

₹73,850.00

Jul 05, 2024

₹6,705.00

₹67,050.00

₹7,314.00

₹73,140.00

Jul 04, 2024

₹6,705.00

₹67,050.00

₹7,314.00

₹73,140.00

Jul 03, 2024

₹6,640.00

₹66,400.00

₹7,243.00

₹72,430.00

Disclaimer: These rates are indicative and exclusive of taxes.

Gold Rate Calculator

A gold rate calculator considers the real-time gold price in India (based on cities) to give you an estimate of the gold you have or intend to buy. The tool is simple, quick, and easy to use.

 

All you need to enter is the weight (in grams), carat (22K or 24K), and the city. Once you submit the values, you will the value of gold for the required quantity.

 

Here is a gold rate calculator you can use to get an estimate of your gold value based on the gold price today in Ahmedabad.

Gold Investment in Ahmedabad

There are a number of factors that make an investment in gold a good strategy. Here are some of the top features of investing in gold.

  • The demand for gold is driven by a slew of factors such as weddings and festivals

  • Gold provides more diversity to your portfolio, helping you dissipate risk

  • In comparison to other investments, gold offers returns that are just as competitive, with less price volatility

  • Historically, the prices of fiat currencies have fallen against that of gold

Points to Remember When Buying Gold in Ahmedabad

First and foremost, when buying gold make sure that you compare the prices. Compare the live 19-carat gold price in Ahmedabad with the 22- and 24-carat gold price in Ahmedabad.

 

Doing this comparison will enable you to ascertain which purity is the best for your investment. Be sure to look at the historical data as well. Apart from that, here are few other points you should keep in mind while investing in gold:

  • Get an invoice or bill for your gold purchase for confirmation and verification.

  • Check the weight of the gold you are purchasing to ensure that you do not face any losses due to weight errors.

  • Buy hallmarked gold only as selling it without a hallmark is difficult due to lack of credibility.

  • Assess buyback terms to make sure that you can sell it back at any time.

Factors that Affect Gold Prices in Ahmedabad

Just like other investment vehicles, investing in gold is subject to market volatility. This is because the Ahmedabad gold rate today is unlikely to be the same as yesterday.

 

Gold rates fluctuate for myriad reasons. Understanding them can help you make an informed decision that prioritises your financial security. Here are top factors that affect gold prices in Ahmedabad and other cities in India:

1. Inflation

Investors buy gold in order to depend on its global price stability to help weather inflation. However, inflation still has some impact on its price. For instance, if inflation is high, the demand for gold increases. This occurs as investors have more confidence in the stability of gold prices than in currency.

2. Global Movement

India is among the largest gold importers. This is why any change in import price will have an effect on the retail price, even by a small margin. Fluctuations in currencies resulting from various geopolitical factors also influence gold rates.

 

A country’s current political state also affects the gold rate. For example, if a country is in political peril, its citizens are likely to lose faith in the government. This pushes people to invest in gold because of its stability, ultimately affecting its price.

3. National Gold Reserves

The Reserve Bank of India has a gold reserve, also referred as National Gold Reserve. This reserve serves as a safety net during economic turmoil and in uncertain times.

 

As such, whenever the government increases the reserve, it may result in a higher demand. This ultimately affects gold prices.

4. The Market at Large

For Indians, the significance of gold goes beyond ornaments or investments. With it being deeply interlinked in the country's culture, from festivals to weddings, the demand always fluctuates.

 

For instance, one could make an assumption that since people buy more gold during the wedding season, the price of gold will go up.

Read More

How is the Purity of Gold Determined?

A carat is a unit of measure used to express the fineness of gold and denote its purity. While it is important to know the gold price in Ahmedabad before investing, it is also important to know the quality. If not, your investment could be worthless.

 

Most of the jewellery we have, even if it is 24-carat gold, cannot be 100% pure gold. This is because gold in its purest form is extremely malleable. This makes it incompatible for use in jewellery.

As a result, some other alloys have to be added in order to make up for this lack of sturdiness. A carat, therefore, represents the gold to alloy ratio in a given piece of gold. In fact, based on the carat you can calculate the purity of gold for yourself as well.

Here’s how:

The most common iterations of gold are in 10, 14, 22, and 24 carats, with 24 being the purest. In order to ascertain the purity, simply convert the carats into a percentage.

 

For this, divide the carat by 24 and then multiply the result by 100. For instance, to determine the purity of a 22-carat piece of gold, first divide it by 24, which gives you 0.9166. Then multiply this by 100, and you have your purity percentage, 91.66%.

 

In order to streamline this process and ease the process of determining the gold rate in Ahmedabad and other cities, the government has developed the BIS standard. This stamp on gold ensures that the gold has been tested in line with this standard.

 

In simple terms, the stamp functions as a brand of authenticity. However, all jewellers do not adhere to this standard. This is why it is important that you check whether your vendor adheres to the BIS standard or not.

Read More

GST Impact on Gold Rate in Ahmedabad

GST (Goods and Service Tax) can have a significant impact on the rate of gold. Here is a table to give you an idea about how GST affects the gold rate in Ahmedabad and other cities:

Tax

Before GST

After GST

Price of 10 grams

₹45,000

₹45,000

Customs Duty

₹4,500

₹4,500

Service Tax and VAT

₹990

₹0

GST on GOLD

₹ 0

₹1,485

Total gold value

₹50,490

₹50,895

Making charge

₹3,000

₹3,000

GST on Making charge

₹0

₹150

Final Price of gold after GST

₹53,490

₹54,135

FAQs on Gold Rate in Ahmedabad

How is the gold rate in Ahmedabad determined?

Gold rate in Ahmedabad and other cities is determined by the Indian Bullion Association. There are a number of factors that affect the gold rate. These include market economics, national reserves, and more.

Should I invest in 22-carat gold or 24-carat gold in Ahmedabad?

The purity you should choose depends on what kind of gold you plan to invest in. For jewellery or ornaments, you should choose 22-carat gold. However, if you want bars, opt for 24-carat gold.

Is it safe to buy gold in Ahmedabad now?

Although buying gold is generally considered to be a safe option in any economic situation, it is best to look at the historical gold rate in Ahmedabad. This will help you understand whether the prices are going to increase or decrease.

You can decide accordingly based on how long you plan to hold your investment.

Why is gold price increasing in Ahmedabad?

Gold prices in Ahmedabad and other cities are increasing due to the current market fluctuations. This is linked to the reducing inflation in the USA and predictions of increasing interest rates.

How do people of Ahmedabad invest in gold?

There are various ways you can invest in gold in Ahmedabad. This includes investing in the metal (ornaments, coins, bars, etc), ETF, or gold funds.

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