Gold Rate in Asansol Today

Gold holds great importance in Asansol, valued for its traditional significance and as a reliable investment. It is a popular investment, valued for its stability and potential to protect wealth over time.

However, since gold prices fluctuate due to various factors, checking the gold rate in Asansol daily can help you find the best time to buy. This also allows you to plan when to leverage your gold to get the highest loan amount.

Check out the gold price today in Asansol for different weights below.

Gram	22 Carat Gold Rate Today	22 Carat Gold Rate Yesterday	Daily Price Change
1 Gram	₹9,180	₹9,465	₹-285
10 Gram	₹91,800	₹94,650	₹-2850
100 Gram	₹918,000	₹946,500	₹-28500

Gold price in Asansol with fluctuations in the last few days, is shown below:

Gold price in Asansol with fluctuations in the last few days, is shown below:

Traditional options for investing in gold include buying coins, jewellery, bars, or ornaments. However, other investment avenues include: 

• Gold ETFs

Gold Exchange-traded Funds (ETFs) are an easy way to invest in gold. They follow gold price trends and are traded on stock exchanges. With Gold ETFs, you do not need to store physical gold. They offer convenience and liquidity and are easy to sell.

• Gold Mutual Funds

Gold funds are types of mutual funds that directly or indirectly invest in stocks of gold mining companies as well as gold ETFs and bullion. They are managed by professionals, offering a convenient way to diversify your portfolio.

• Gold Schemes

Look for jewellers offering schemes that let you invest small amounts regularly over a fixed period, such as one to three years. At the end of the term, you can use the accumulated amount to purchase gold. The terms of these schemes may vary between jewellers. 

• Digital Gold

Digital gold has become a popular way to invest in gold in India. It allows you to buy, sell, and store gold conveniently through digital financial platforms. This is an excellent alternative to physical gold if you want to avoid the hassle of storing it.

Follow these guidelines when purchasing gold to invest wisely and guarantee a safe transaction:

• Latest Gold Price

You can make an informed decision by staying updated with the current gold rate in Asansol. Track it on various reputable financial platforms to ensure you are getting fair offers. This knowledge will help you to stay aligned with market rates and make smarter decisions.

• Choose a Trusted Jeweller

Take your time to research the reviews of the seller or visit a well-established store to ensure the quality and authenticity of your purchase. 

• Hallmark Certification

This will verify your gold item's purity as per the standards set by the Bureau of Indian Standards (BIS) and ensure you get exactly what you are paying for. Look for the BIS logo, the purity in karats, and the 6-digit Hallmark Unique Identification (HUID) to verify the gold's quality. 

• Get the Documents

When buying gold, ensure you receive a receipt and other important documents. These documents can be valuable to prove that you paid for the items and also to verify their purity. These are important if you need to claim insurance or secure a gold loan in the future.

• Compare

While researching the seller, compare gold prices and offers. This helps you find better value and quality that fits your budget. By comparing various sellers, you can also explore different jewellery options and get a piece that matches your style.

When buying gold, it is important to be familiar with the various factors that can affect the gold price in Asansol. Here is what you need to know:

• Global Gold Rates

If the international market is unstable, it will affect the local market too. Usually, sudden economic and political shifts cause fluctuations in the gold rates globally. Gold rates increase when global economic or political instability occurs and decrease when markets stabilise.

• Currency Exchange Rate

Fluctuations of currency, especially between the US Dollar and other major currencies, can impact the price of gold. Gold prices increase when the dollar weakens relative to other currencies. 

• Local Demands

People buy more gold jewellery during festive seasons, impacting overall market supply and driving up prices. Gold prices increase during times of peak demand, such as during festive seasons or weddings. 

• Inflation

Gold rates often overcome currency devaluation, making it a popular investment during rising inflation. As inflation increases, gold prices typically rise.

To ensure you are purchasing authentic gold, you can follow some simple methods for a purity check. However, these methods are meant to offer a basic guideline only. For a proper inquiry, you can seek help from a certified jeweller:

• Testing with a Magnet

Bring a magnet close to the piece of gold you want to test. Pure gold is non-magnetic and will not stick to a magnet. If the magnet attracts the gold, the item likely contains impurities or is not genuine gold. 

• Black Stone Test

To test gold with a stone, rub the gold on a black stone to leave a mark. Further, add nitric acid to the mark. If it dissolves easily, the item is not gold. 

• Vinegar Test

Put a drop of vinegar on the gold. Pure gold will not change colour, while other metals will show a slight colour change.

Gold price fluctuations can affect the total GST you pay. Gold attracts a 3% GST, split equally into 1.5% CGST and 1.5% SGST. Additionally, making charges of jewellery are taxed at 5% GST.

 

For example, if a gold coin costs ₹1.5 Lakh, the GST payable is ₹4,500 (3% of ₹1.5 Lakh), with ₹2,250 each as CGST and SGST.

Gold loans provide flexible and instant funding in Asansol with minimal eligibility requirements. Their comparatively lower interest rates make them an attractive option for borrowing funds. Gold’s current value influences the amount you can borrow. 

If the gold price is high, you can secure a higher loan amount against the collateral and vice versa. Check out different lenders and compare their offers on Bajaj Markets. Through this platform, applying for a gold loan is quick and convenient.