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Indians believe that gold is an ultimate form of investment bearing fruitful results. While the commodity in gold differs, it is considered a reliable and safer medium of investment. Gold is the only metal in the entire world that is worshipped and is considered a symbol of purity, elegance, and status. People who believe in generating stable yet profitable returns from their investments tend to invest in gold. Gold can generate profits anywhere across the globe. Read this blog, to know more about the gold rate in Dehradun.

Gold Rate in Dehradun

The gold rate in Dehradun fluctuates daily. It is therefore advisable to be aware of the current gold rate in Dehradun before purchasing or selling gold in Dehradun.

 

  • 24 Carat pure gold rate for 10 grams = Rs. 46,340

  • 22 Carat standard gold rate for 10 grams = Rs. 48,660

 

10 grams gold = 1 tola gold

 

24 Carat Gold price per gram in Dehradun today

The 24 Carat gold price in Dehradun today –

 

  • 1 gram gold rate in Dehradun = Rs. 4,887

  • 8 grams gold rate in Dehradun = Rs. 39,096

22 Carat Gold price per gram in Dehradun today

The 22 Carat gold price in Dehradun today –

 

  • 1 gram gold rate in Dehradun = Rs. 4,634

  • 8 grams gold rate in Dehradun = Rs. 37,072

Read this table below to understand the gold rate fluctuations in Dehradun –

 

Today gold rate in Dehradun

Yesterday gold rate in Dehradun

Rate change

24 Carat gold (1 gram)

Rs. 4,887

Rs. 4,887

No change

24 Carat gold (8 grams)

Rs. 39,096

Rs. 39,096

No change

22 Carat gold ( 1 gram)

Rs. 4,654

Rs. 4,654

No change

22 Carat gold (8 grams)

Rs. 37,232

Rs. 37,232

No change

Check out the 18 Carat gold rate in Dehradun today –

  • 18 Carat gold rate for 1 gram = Rs. 3,791

  • 18 Carat gold rate for 8 grams = Rs. 30,328

GST on gold in Dehradun

GST is referred to as the Goods and Service Tax that was introduced by the Indian government in 2017. The GST tax is a consolidated version of indirect taxes of the country. The GST department taxes every sector according to the contribution it makes to the economy. Read this table mentioned below to understand the impact of GST on the gold price in Dehradun –

The prescribed tax rate on the value of gold – Before GST, the tax rate on the value of gold was 2% which includes 1% VAT and 1% Sales Tax. After the introduction of GST, the tax rate on the value of gold increased to 3%.

The prescribed tax rate on the making charges – Initially there weren’t any making charges on the gold, however with the introduction of GST the making charges on gold are now taxed at 5%.

Tax

Before GST

After GST

VAT on the value of gold

1%

Nil

Sales tax on the value of gold

1%

Nil

GST on the value of gold

Nil

3%

GST on making charges

Nil

5%

Gold Investments in Dehradun

There is a variety of options available in the Dehradun market for making gold investments –

 

  • Traditional / Physical gold – The traditional method of investing in gold is in the form of jewelry, gold coins, and gold bars.

  • Mutual Funds – An individual can also invest in gold derivatives by investing their funds into mutual funds. The individuals can then make SIPs investments of these funds.

  • Other Gold investments – Individuals can also choose from gold investments, such as Sovereign Gold Bond, ETFs, etc.

How to Invest in Gold ETFs in Dehradun

To invest in Gold ETFs (Gold Exchange- Traded – Funds), an individual will have to open a Demat and a trading account. Select a depository participant as well. One ETF is equivalent to one gram of gold. The reason it is advisable to invest in Gold ETFs is it eliminates the risks of storage, security, and liquidity.

How to Invest in Sovereign Gold Bonds in Dehradun

Scheduled commercial banks, listed post offices, stock exchanges, and some SEBI-approved intermediaries, etc are some of the platforms to buy Sovereign Gold Bonds. The Sovereign Gold bonds can be kept with an individual for a tenure of 8 years. Considering SGBs are government bonds, an individual is free to redeem them after 5 years or can wait till the bonds mature. After maturity, an individual is liable to get the market value of gold with interest.

How to check the purity of gold in Dehradun?

Although gold purchased from trusted platforms doesn’t require a purity test, the most basic and mandatory parameter is the BIS hallmark on the gold. The Bureau of Indian Standards commonly known as BIS is an embossed symbol on gold commodities. There are four elements of the BIS seal – BIS symbol, Hallmark center’s mark, Jeweller ID mark, and Carat purity mark. It is advisable to purchase any gold commodity that is not authorized by BIS. There are other measures as well to check the purity of gold –

 

  • Magnet – Gold if mixed with some other metal will be instantly attracted to a magnet when placed next to it. Pure gold will not be attracted by the magnet.

  • Home Experiment – There is a home test kit available in the market for the customer to test the purity of gold. The kit offers nitric acid in different concentrations to test different carats of gold. Nitric acid changes its color when it comes in contact with adulterated gold.

  • Carat Checker – To know about the purity of gold, an individual can visit a jeweler who owns a Carat- checker machine. The machine checks the gold commodity and provides results regarding gold purity.

What is the Demand for gold in Dehradun?

The demand for gold in India is growing every day, especially during festive and wedding seasons. After the lockdown, the demand for gold has been increasing gradually. Gold has been voted as the most reliable and stable investment. While the older generations are investing in gold coins and bars, the millennials prefer to invest in the alternatives of physical gold like ETF’s, SGBs, etc.

How is the gold rate in Dehradun determined?

The gold rate in Dehradun is influenced by various factors. The price of a commodity is generally determined by the basic rule of demand and supply. However, there are various other factors that play a significant role in influencing the gold price in Dehradun. These factors are not only affecting the native gold market but also make an impact on the international gold market.

 

  • Consumer response – The gold rate in Dehradun will witness a hike in prices if there is a huge demand in the market or there is a lack of supply. In either of the cases, there will be fluctuations in the gold rate in Dehradun.

  • International gold rate – COMEX, TOCOM, etc are those international exchanges that determine the gold rate in the international market. The international market is basically the global bullion that opens the gold rate every day in this industry. Here the Indian Bullion Jewellers Association decides the benchmark gold price for the country. The procedure is conducted in periodic intervals resulting in a constant update of gold price.

  • Taxes and Import duty – The import duty charges and taxes levied on the gold affect its price. These prices are added after the daily update of the global gold rate.

What is the mandatory Checklist for buying gold in Dehradun?

Before buying physical gold, there are some parameters that one should keep in mind. Here is a checklist of certain things that every buyer must remember –

 

  • Hallmark symbol – To ensure the purity of gold in a glance, an individual should always look for the BIS hallmark symbol (BIS hallmark symbol has four elements)

  • Certified Jeweller – Always visit a certified jeweler. It is important to note that jewelers should have a trade license and membership in a gold association. One can also check the jeweler’s certificate on the BIS website.

  • Receipt of purchase – Always purchase gold under a bill and ask the jeweler to issue a receipt of the purchase. The receipt will help the customer during the exchange and sale of gold.

  • Gold rate – It is important to study and analyze the gold price before investing. Make sure the gold commodity is billed at the live rate gold in Dehradun.

  • Making charges – Apart from the live gold rate in Dehradun, there are changes that will be added to the final bill. These making charges differ from jewelry to jewelry. It is therefore advisable to discuss these charges beforehand.

Things to consider before buying gold in Dehradun

Apart from the mandatory check, there are some secondary pointers which an individual should be kept in mind before purchasing gold in Dehradun –

 

  • Purity measures of gold – A BIS symbol is the mark of genuine gold. However, it is important for the consumer to be well-versed in terms of the gold market. Gold is generally expressed in terms of Carats like 18 Carat gold, 22 Carat gold, etc. 24 Carat gold is the pure form of gold with 999 fineness. Whereas 18 and 22 Carat gold have 750 and 916 fineness.

  • Weight – While purchasing jewelry, it is important to note that the bill should clearly mention the weight of gold used in it and the weight of precious stones and diamonds separately in a detailed manner.

  • Market demand – The gold rate in Dehradun will be high during festive and wedding seasons. But during off-seasons, the gold rate will be comparatively lower.

What are the factors that influence the gold rate in Dehradun?

There are various factors that influence the gold rate in Dehradun –

 

  • Inflation – Inflation is that economic factor that influences the demand for gold affecting the gold rate. If customers have high gold demand during the inflation period, there will be a hike in the price of gold.

  • Global crisis – Any incident occurring on a national or an international scale will result in a rising demand for gold to ensure stability and security. In such a scenario, there will be a hike in the price of gold.

  • Government Policies – Fuel prices, interest rates, tax rates, etc any shift in the value of the government-regulated policies will influence the gold rate in Dehradun.

  • Gold Reserve of India – If the government of India is planning to expand or augment its gold reserve, there is a sudden demand for gold in the market-leading to a hike in the gold rate.

  • Fluctuating Currency- The prices of gold in the Indian market is directly proportional to the strength of the Indian Rupee in the international market against US dollars. If the value of Indian Rupees falls internationally, the gold rate will witness a hike and vice.

What are the different places where one can buy gold in Dehradun?

Different places in Dehradun offer gold in different forms depending on the customer’s requirement. Read this to know more –

 

  • Jewelry – To buy pure gold jewelry in Indore, an individual will have to visit reputed jewellery shops or showrooms personally. Remember the making charges will be different in every shop.

  • Gold Bars – Individuals can purchase gold bars and coins from e-retailers or from bullion traders. Bullion traders will sell gold at a lower price in comparison to e-retailers and jewelers. The gold coins are generally available in the denominations of 1 gram, 5 grams, 10 grams, etc.

FAQs

  • ✔️Which is better, physical gold or gold-related investments?

    Gold investment is based upon the investment objective and risk-taking capacity of an individual. Both forms of gold investment are formulated with a specific objective with a set of pros and cons.

  • ✔️Can I buy 24 Carat gold in Dehradun?

    Yes, 24 Carat gold per gram is available in Dehradun for Rs. 4,866

  • ✔️What is 958 gold in Dehradun?

    958 is the fineness of 23 Carat gold in Dehradun

  • ✔️What is rose gold in Dehradun?

    Rose gold is gold with elements of copper, silver, and pure gold. 

  • ✔️What is one ounce of gold?

    Ounce as an international unit of measurement can imply both imperial ounce and troy ounce. While 1 troy ounce is equal to 31.1 grams of gold, 1 imperial ounce is the same as 28.35 grams of gold. 

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