Gold is one of the few investment options that offer inflation-proof returns. In fact, the yellow metal has a very good track record of consistently beating inflation. It’s no wonder then that Indians, especially, love to purchase the precious metal. That said, inflation-beating returns isn’t the only reason why we purchase gold though.
Traditionally, gold has always been viewed as something that’s very auspicious and therefore has been included in weddings and other traditional ceremonies in some form or the other. If this yellow metal is something that you’d be interested in, then it is important for you to keep tabs on the current gold rate. Here’s something that can help you out.
If you’re currently residing in the state of Assam and looking to invest in gold for the long-term, then you’re in luck. This article can help shed some light on the gold price today in Assam. Let’s take a quick look.
24 carat gold: 10 grams for Rs. 48,830
22 carat gold: 10 grams for Rs. 46,500
Currently, 24 carat gold is the purest form of the precious metal that money can buy. However, it is usually not preferred by jewelers for making ornaments. Instead, 24 carat gold is used to make gold bars and coins, which are usually bought and held for investment purposes. If this is something that you’re looking to do, then here’s what the 24 carat gold price in Assam today is.
24 carat gold: 1 gram for Rs. 4,904
24 carat gold: 8 grams for Rs. 39,232
Jewelers mostly prefer working with 22 carat gold due to its properties that are well suited for making ornaments. So, if you’re looking to buy jewellery for a wedding or any other auspicious occasion, then check out the 22 carat gold price today in Assam.
22 carat gold: 1 gram for Rs. 4,670
22 carat gold: 8 grams for Rs. 37,360
Introduced in the year 2017, the Goods and Services Tax (GST) has finally set right the fragmented indirect taxation system in India. Taking the perpetual high demand for gold in India, the lawmakers decided to also include the yellow metal into the ambit of GST.
The result of this inclusion is the 3% GST rate on gold jewelry and 5% GST rate on gold jewelry making charges that are currently being levied on top of the gold rate in Assam. Therefore, when you’re looking for what the gold price in Assam today is, remember to factor in GST as well.
Although it is a well known fact that most of the gold that Indians purchase are in the form of jewelry, there is a significant section of the Indian populace who purchase gold with the intention of holding it for wealth creation.
However, people who purchase gold for investment purposes generally tend to invest in alternate forms such as gold ETFs, and Sovereign Gold Bonds (SGBs) instead. This is primarily due to the increased risk associated with safety and securely holding physical gold. That said, no matter the form of gold that you’re looking to invest in, you should always know the Assam gold price no matter what.
As you already know, India is one of the top countries in terms of consumption of gold. This is primarily due to the Indians’ well known affinity to gold. The same can be said about the state of Assam as well. Of late, individuals residing in Assam are branching out in terms of the kinds of gold investments.
Nowadays, they’re not just restricting themselves to the purchase of gold jewelry and ornaments, but are also investing in SGBs, and gold ETFs. Taking all of this into account, we can say with certainty that the demand for gold in Assam is high and is likely to remain that way for the foreseeable future.
The major determining factor of the current gold rate in Assam are the demand and supply forces. Now, the supply of gold is usually consistent with minor fluctuations. The demand, however, tends to vary wildly. So, when the demand for gold increases, the price of gold appreciates. And conversely, when the demand for gold decreases the price of gold goes down. That said, these two aren’t the only factors that determine the present gold rate in Assam. We’ll see more about them in the forthcoming sections.
In a large state like Assam, there are a plethora of different sellers that offer a wide range of gold jewelry and ornaments for sale. In addition to plenty of traditional, well-established jewelers, there are also many family-run shops that craft and sell unique gold jewels.
Gold ETFs are exchange-traded funds that track the price of physical gold. They can be bought and sold easily on an exchange.
Currently, SGBs offer interest at the rate of 2.5% per annum. The interest is paid semi-annually.
The GST rate applicable on the making charges for gold jewellery is 5%.
Yes, you need to open a demat account through a stock broker to buy units of gold ETFs.
Yes, the price of gold in Assam generally tends to fluctuate on a daily basis owing to a number of factors like demand and supply, interest rates, inflation, and the government’s gold reserves.