Gold Rate in Bhopal

• The identification mark of the jeweller (if the gold is sold as jewellery)

• Mark of the Bureau of Indian Standards (BIS)

• High purity levels in terms of karats

• Identification mark or number of the hallmarking centre

Aside from conducting these tests on your own, you can also employ specialists or experts who can ascertain the purity of the gold you purchase or choose to invest in. Regardless of whether you do it on your own or whether you ask an expert to do it for you, it is important to assess the purity of the gold before you make the final purchase.

• Purity

Before purchasing gold, whether as jewellery or as bars and coins, it is imperative to check the purity of the gold. You can look for the hallmarking sign which certifies that the piece has passed through the highest certification by competent authorities and its purity is assured.

• Making Charges

Making charges are usually levied by the jeweller and his associated team while creating ornaments from the gold on offer. These charges are paid towards the labour force required to create this piece of jewellery. These making charges can differ from jeweller to jeweller. In the absence of standardised rates, different jewellers might charge different rates, which is why it is essential to ask around before you take a decision on which jeweller to work with. Making charges, if too elaborate, can lead to a substantial price in the entirety of the purchase.

• Man-made or machine made

There are significant differences between man-made or machine made jewellery. Gold jewellery created for mass consumption or on machines do not have the same level of finesse as offered by man-made jewellery. As a result, the charges associated with machine made jewellery are significantly lower than jewellery made by hand.

• Weight checking

Since the cost of the gold is calculated as per its weight, it is important to check that the weight assessment is happening in an efficient manner. If, instead of weighing just the gold, the jeweller weighs the heavy jewellery which also includes stones and heavy gems, then you might want to double check with them regarding the cost of the gold and how much gold you are buying.

• Seasons and their sales

While gold is a precious commodity across India and the world as well, it is frequently purchased throughout the year, especially when there is a social or festive event coming up. Owing to the seasonal nature of weddings and similar occasions, the demand for gold surges all at once, which causes prices to hike. If you are hesitant to buy gold at a time when the prices are expected to remain high, you can instead opt to make the purchase during the off-season when demand is lesser.

• Buy backs

Buy back is offered by jewellers to customers for exchanging their old golden jewellery for newer products. If you are buying gold jewellery, it may be best to learn the buy back options available to you from the jeweller.

• The store and its reviews and reputation

Owing to the vast number of jewellery stores across the length and breadth of India, it can often become difficult to ascertain the most reliable jewellery store. Ask your friends’ advice, look up community groups where people could be talking about the store and learn about the best jewellery shop in the neighbourhood to fulfill all your needs.

Despite the prosperity associated with gold, investors remain wary of the anticipated market turbulence. For instance, today the gold rate in Bhopal could be higher or even lower than the price yesterday. However, it is important to remember that the price of gold usually rises at the times of political, economic or social crises across the world. Since gold is a limited resource, its value remains constant and guarantees investors definite returns.

Similar to other commodities, there is a strategy undertaken by most experienced traders in the market who are dealing with gold. Most of these strategies involve waiting for the lowest trading price of gold before you purchase it. When you compare today gold rate in Bhopal over a period of time, you will be able to notice how the prices rise and fall. It is important to remember that while gold also goes through its ups and downs, its value as an investment will never fail owing to it being a limited resource.

• Most commonly, gold is sold in the physical form to consumers. This can include jewellery, coins or bars made of gold. The coins are also available with banks and other financial bodies, rather than just banks.

• Another common method for investing into gold is through buying gold contracts. The contracts are available for gold ranging from 8 grams to several kilograms of gold, and can be purchased across any of the commodity exchanges operating across the country. Gold contracts also offer you the ability to invest in gold of different purity levels.

• Geopolitical Issues:

  Geopolitical issues encompass social, political and economic issues or strives that may occur between countries that are major traders of gold. For instance, the US strike on Syria resulted in increased volatility in the market due to the global uncertainty. Such situations cause high demand for gold since it is known to be a stable investment and result in the gold rate in Bhopal increasing as well.

• Local Factors:

  Local factors that affect the prices of gold in Bhopal usually include charges associated with transport or logistics. If the costs incurred by the dealer or jeweller increase due to such reasons, they are likely to pass on the increase to customers, thus, increasing the final price of the gold.

Previously copper was used wherein gold and copper were soldered in the ratio of 60:40. However, owing to the solder, the purity of the gold is reduced once it is melted back into gold.

Copper has since been replaced with cadmium, which has an even lower melting point and liquidity, and gold is soldered with cadmium in a 92:8 ratio. This gold, known as KDM Gold, is significantly more pure as compared to gold soldered with copper.

KDM gold differs from hallmarked gold in terms of the metal used. Hallmarked gold usually bears a sign from the BIS which authorises the gold sold by the jeweller and its purity. Hallmarked gold features a range of details and helps you distinguish it from KDM gold.