The people of Aurangabad rely heavily on imports of gold for investment purposes and to meet the demands of all kinds of auspicious occasions, such as festival purchases and weddings. Buying gold in Aurangabad today? Then you must know the gold rate in Aurangabad today. Although the rate of gold tends to go through fluctuations here, as it does in most Indian cities, gold is considered a stable asset as it is easily liquefiable. Holding its own against inflation, and representing a hedge against economic uncertainty, gold is viewed as a much sought-after metal. Here’s all you need to know about gold in Aurangabad, if you want to purchase it.
You may be a novice at investing or one who wants to diversify their portfolio. Whatever your gold requirement is, whether for its ornamentation or asset value, you must know the gold price in Aurangabad today. These are the rates:
22 carat gold rate today in Aurangabad - Rs. 45,930 for 10 grams
24 carat gold rate in Aurangabad - Rs. 48,230 for 10 grams
Think you should invest in 24 carat gold? You wouldn’t be wrong to do so, as this is the purest gold you will get, seeing you gain huge returns in the future. Therefore, you should know the gold rates today. Gold rate in Aurangabad for 24 carat gold is:
1 gram of 24 carat gold - Rs. 4,823
8 grams of 24 carat gold - Rs. 38, 584
The gold price in Aurangabad for 22 carat gold is vital to be aware of if you’re on the hunt for gold ornament purchase, as most jewellery is made from 22 carat gold. Note the rates:
1 gram of 22 carat gold - Rs. 4,593
8 grams of 22 carat gold - Rs. 36,744
Today, the gold rate in Aurangabad, Maharashtra, depends on various variables. Some factors that decide the rate of gold are domestic, while others are international. For instance, the gold standard international price is determined by the London Bullion Association. This is officially published for all nations to rate the value of gold. The Indian Bullion Jewellers Association considers international pricing and decides on the gold prices for India. Moreover, banks and other institutions import gold into India. The gold that is imported has to be taxed, and after all the taxes are applied, prices are determined for India and separate states.
The gold rate in Aurangabad, Maharashtra, is taken into important consideration when you purchase gold or any form of gold investment, or securities. Nonetheless, you need to know that the gold you buy is pure. So how can you be sure about this metal’s purity? The purity of gold is represented by a scale of values from 1 - 24. As you already know, 24 (carat) indicates the purest form of this metal. Gold, in this case, is not blended with any other metal/alloy. However, when you buy 22 carat gold, you are essentially buying gold that is 91.6% pure. The Bureau of Indian Standards certifies all valid 22 carat gold articles with a stamp or a hallmark, bearing the insignia, ‘916’.
Investing in any form of gold is a good idea in Aurangabad today. Gold rate is one thing to know about, but you can easily get a clue to the purity of the metal too. Gold, as sold in India, is measured by three levels of purity:
24 carat gold - 99.99% pure
22 carat gold - 91.6% pure
18 carat gold - 75% pure
A necessary condition for you to make a gold investment is to know the gold price today. Aurangabad, Maharashtra, experiences fluctuations in gold rates, sometimes on a daily basis, and you have to know the rate when you invest in order to budget your funds accordingly. The common ways to invest in gold are physical gold, gold mutual funds, or gold Exchange Traded Funds (ETFs).
The gold rate in Aurangabad today may not be the same as it was yesterday. Furthermore, it may not be the same tomorrow. Gold prices fluctuate for several reasons in Aurangabad, and this is due to global as well as domestic variables. As gold is imported from abroad, the international price of gold determines the rate of gold in India. Added to this, taxes, both global and domestic apply, and import duties too. The dollar to rupee ratio also has a say in rate fluctuations, and when the value of currencies fluctuate, so does the value of gold. Over and above all this, when the demand for gold increases, the price goes up and vice versa, creating shifts in the value of gold.
The gold price in Aurangabad, Maharashtra, may see fluctuations due to a number of aspects that affect it from within India and outside the country. However, one cost that is added to any rate of gold remains fixed. This is the tax that is charged on the gold you buy. The Goods and Services Tax or GST is charged to customers by sellers and then given to the Government of India. This tax, an indirect tax, is levied at 3% on the value of the gold you buy. GST at 5% is levied on making charges of gold ornaments. Since there is no limit on making charges, this is the cost that can take the price of gold you purchase up exponentially.