Gold Rate Today in Ahmedabad

Gold Rate in Ahmedabad

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As a novice investor in Ahmedabad, you might begin your investing journey in equity markets through individual stocks, mutual funds, eventually moving on to other avenues such as bonds and other debt instruments, property, and gold.

 

Generally, the investing strategy remains the same for any investment form, whether it is equity or gold; You aim to buy low and sell high in order to net a profit. For instance, In order to do this, however, you will first require some information about the current gold price in Ahmedabad, as well as the historical prices, the live gold rate Ahmedabad, and the Ahmedabad gold rate today. With this information, you will be able to identify where the price of gold currently stands, and whether it is a good time to make the investment or not. 

Gold Price in Ahmedabad

Gold comes in many iterations of purity, identified as ‘Carats’. In this article, we will aim to provide you with the most current information, breaking down the 22 carat gold price in Ahmedabad today as well as the 24 carat gold price in Ahmedabad today. Additionally, we will also explain how the price of gold is determined, and various other factors such as gold ETFs, the GST effect of investing in gold, and how the price of gold itself is determined.

Gram

24 Carat Gold Rate Today

24 Carat Gold Rate Yesterday

Daily Price Change

1 Gram ₹ 5,443 ₹ 5,443 ₹ 0
8 Gram ₹ 43,544 ₹ 43,544 ₹ 0
10 Gram ₹ 54,430 ₹ 54,430 ₹ 0
100 Gram ₹ 5,44,300 ₹ 5,44,300 ₹ 0

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

In order to determine what is a good entry and exit point for purchasing gold (if you are looking to do so as an investment), knowing the 22-carat gold price in Ahmedabad or the 24 carat gold price in Ahmedabad today is not enough. Any investor, even with a limited amount of experience in investing knows that in order to ascertain what to do next, you must first know what has happened before. In other words, you might be better equipped to make an investment decision if you know the historical price of gold in order 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

Apr 19, 2022 ₹ 49,900.00 ₹ 4,990.00 ₹ 5,443.00 ₹ 54,430.00
Apr 18, 2022 ₹ 49,900.00 ₹ 4,990.00 ₹ 5,443.00 ₹ 54,430.00
Apr 17, 2022 ₹ 4,960.00 ₹ 49,600.00 ₹ 5,410.00 ₹ 54,100.00
Apr 16, 2022 ₹ 4,960.00 ₹ 49,600.00 ₹ 5,410.00 ₹ 54,100.00
Apr 14, 2022 ₹ 4,960.00 ₹ 49,600.00 ₹ 5,410.00 ₹ 54,100.00
Apr 13, 2022 ₹ 4,942.00 ₹ 49,420.00 ₹ 5,354.00 ₹ 53,540.00
Apr 12, 2022 ₹ 4,865.00 ₹ 48,650.00 ₹ 5,307.00 ₹ 53,070.00
Apr 11, 2022 ₹ 4,865.00 ₹ 48,650.00 ₹ 5,307.00 ₹ 53,070.00
Apr 10, 2022 ₹ 4,865.00 ₹ 48,650.00 ₹ 5,307.00 ₹ 53,070.00
Apr 9, 2022 ₹ 4,865.00 ₹ 48,650.00 ₹ 5,307.00 ₹ 53,070.00

How is the Purity of Gold Determined?

A carat is a unit of measure that is used to express the fineness of gold, and denote the subsequent purity. While it is important to know the gold price in India Ahmedabad in order to get a good deal, it is also important that you know the quality of gold that you are buying, else your investment could be worthless. 

Most of the jewellery we have, even if it is 24-carat gold, is not 100% pure gold. This is because gold in its purest form is extremely malleable, making it unfit 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 we can calculate the purity of gold for ourselves 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, you will have to convert the carats into a percentage. This is done by dividing the carat by 24 and then multiplying the result by 100. For instance, in order to determine the purity of a 22 karat piece of gold alongside the gold rate in Ahmedabad, you would first divide it by 24, which gives you 0.9166. Multiply this by 100, and you have your purity percentage, 91.66%. 

In order to streamline this process and to ease the process of determining the gold rate in Ahmedabad, the government has developed the BIS standard. This stamp on gold ensures that the gold has been tested in line with this standard, and functions as a brand of authenticity. All jewellers do not adhere to this standard, however, and it is thus important that you check to see whether your vendor adheres to the BIS standard or not. 

Different Types of Purity Measure of Gold in Ahmedabad

Carat

Purity Percentage (percentage of gold in the alloy)

24 Carat 99.99%
22 Carat 91.7%
20 Carat 83.3%
18 Carat 75%
14 Carat 58.3%
10 Carat 41.7%

Points to Remember When Buying Gold in Ahmedabad

Compare the 19-carat gold price in Ahmedabad today, 22 carat gold price in Ahmedabad today, and the 24-carat gold price in Ahmedabad today to see which offers better value. 

  • Ensure you ask for an invoice for your purchase.

  • Always buy only hallmarked gold. While this might not matter for gold in the form of jewellery, you might find it difficult to sell your gold if it is not hallmarked, as the BIS stamp identifies the gold as authentic. 

  • If you’re buying physical gold, weigh it. With gold, even a shortage of 1 gram could cause you significant financial loss. Ensure you weigh the gold correctly and thoroughly. 

  • Check the buyback terms. No matter how much you trust your vendor, it is an essential account for any unexpected happenings. Therefore, you must always ensure that you check the buyback terms to make sure that you can return the gold/sell it back at any time if you no longer wish to hold onto it. 

Gold as an Investment in Ahmedabad

There are a number of factors due to which one would like to invest in gold in Ahmedabad for which you would want to know the live gold rate Ahmedabad. Such factors include : 

  • The demand for gold is driven by a slew of factors, beyond just investment. For example, weddings and festivals. 

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

  • When compared 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. 

How You Can Make Gold Investments in Ahmedabad

There are three main ways through which you can invest in gold based on the current gold price in Ahmedabad.

  1. Invest in the metal itself

    This offers some advantages such as not needing a Demat account, and no paperwork required to invest. However, the gold can be stolen and you might have to put in more effort to sell.

  2. Gold ETF

    Here you buy a representational amount of gold, but not the metal itself. You require a Demat account to do this, but it alleviates the need to buy and sell physical gold.

  3. Gold Funds

    These are created by large scale mining companies. While you do not require a Demat account, you do have to pay a charge to maintain the fund.

Importing Gold into Ahmedabad

The import of gold into the country, including Ahmedabad, is controlled by the RBI. While you cannot import gold in the form of coins and medallions, bars can be imported. YOu are required to route all your gold imports through a customs bonded warehouse, and your gold bars require a licence from the Directorate General of Foreign Trade.

Why Gold Rates in Ahmedabad Fluctuate?

There are a number of factors that could affect the price of gold, and you should keep these in mind along with the gold price in Ahmedabad today live, in order to make better investing decisions.

  1. Seasonal Demand

    In India, we have a number of festivals and events due to which the demand for gold goes up, and so does the Ahmedabad gold rate today, tomorrow, or for the short term. 

  2. Inflation

    In times of high inflation, people hedge gold against it to not lose out on value. This pushes up the demand for gold and the gold price in India Ahmedabad. 

  3. Interest rates

    Interest rates have an inverse relationship with the gold price in Ahmedabad.

Factors that Affects Gold Prices in Ahmedabad

As is with any investment you can make, the Ahmedabad gold rate today is unlikely to be the same as yesterday. This price fluctuation is caused by a number of factors, and gaining insight into these factors will help you make a better investment decision.

  1. Global Movement

    India stands to be one of the largest importers of gold. Therefore, any changes in the price of importing gold will at least in part, be passed on to customers. Due to various geopolitical factors, the fluctuation in currencies can also cause the price of gold to fluctuate. If a country is in political peril, the people lose faith in the government and are less likely to invest in gold, pushing the price down.

  2. Inflation

    Investors buy gold in order to depend on its global price stability to help whether inflation. However, inflation still has some impact on the price. If inflation is high for instance, the demand for gold increases, as people have more confidence in the stability of gold price in Ahmedabad, than in the currency. 

  3. National Gold Reserves

    In order to keep gold in its reserves, the government must first acquire it. This creates a higher demand for gold. If a government is increasing its gold reserves, therefore, the increase in demand is likely to push the price of gold up. 

  4. The Market at Large

    In India, gold has vast significance beyond ornaments or investments. With the metal being interlinked in the country's culture, from festivals to weddings, the demand for gold always fluctuates. For instance, one could make an assumption that during the wedding season, the price of gold will go up, as people are likely to buy jewelry for their weddings or as wedding gifts.

GST Impact on Gold Rate in ahmedabad

GST (Goods and Service Tax) can have a significant impact on the rate of gold.

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

Difference between KDM and Hallmarked Gold in Ahmedabad

Hallmarked gold is gold that has been certified by the Bureau of Indian Standards (BIS) and thus has the appropriate stamp. The gold price in Ahmedabad of a BIS stamped piece of gold is therefore authentic. 

KDM gold refers to gold ornaments that have been soldered together with the use of Cadmium and made 92% of gold and 8 per cent cadmium is used. It was however noted that this process is extremely hazardous to one’s health, and was thus banned by the BIS. 

Gold ETF vs Sovereign Gold Bonds

A gold ETF is an electronically traded fund set up to allow investors easier access to gold as an investable opportunity, instead of the metal itself. This means you can technically own a piece of gold as an investment, without holding the metal in your hand. This eliminates the risk of theft or loss and makes the buying and selling process much simpler. The sovereign gold bond was created by the government with the same objective, to meet the demand for gold as an investment, whilst not having to let go of real gold. 

Parameter

Gold ETF

Sovereign Gold Bond

Tenor None 8 years
Payment Digital Upto 20,000 in cash, then cheque, DD etc.
Where to Purchase From demat account Post office, stock holdings, Agents and Banks
Minimum investment amount 1 unit 4,662 per gram
Maximum investment amount No limit present 4KG per family member
Lock in Period None 5 years

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