Stay Ahead of the Market with Up-to-Date Gold Rates in Goa
The gold rate in Goa today has seen an upswing from the previous week. The prices of this metal have been relatively stable for the last two weeks. However, its rate shot up after the Union Budget was presented.
Here's some information to keep you abreast of gold price today in Goa:
Gram |
22 Carat Gold Rate Today |
22 Carat Gold Rate Yesterday |
Daily Price Change |
1 Gram |
₹7,385 |
₹7,300 |
₹85 |
10 Gram |
₹73,850 |
₹73,000 |
₹850 |
100 Gram |
₹738,500 |
₹730,000 |
₹8500 |
One of the main benefits you get with gold is that it offers a range of investment options. Previously, one had to only look towards gold investment in the purchase of jewellery.
However, nowadays, you can leverage the value of this sparkling metal by purchasing the following:
Physical gold
ETFs of gold
Derivative gold contracts, etc.
Whatever route you select, you should know the price of gold and how it has behaved in the recent past and today. For instance, 24 & 22 carat gold price in Goa, with fluctuations in the last few days, is shown below:
Date |
STANDARD GOLD 22K |
STANDARD GOLD 24K |
||
1 Gram |
10 Gram |
1 Gram |
10 Gram |
|
November 08, 2024 |
₹7,385 |
₹73,850 |
₹7,754 |
₹77,540 |
November 07, 2024 |
₹7,300 |
₹73,000 |
₹7,665 |
₹76,650 |
November 06, 2024 |
₹7,469 |
₹74,690 |
₹7,842 |
₹78,420 |
November 05, 2024 |
₹7,459 |
₹74,590 |
₹7,832 |
₹78,320 |
November 04, 2024 |
₹7,470 |
₹74,700 |
₹7,844 |
₹78,440 |
Gold price in Goa with fluctuations in the last few days, is shown below:
Date |
STANDARD GOLD 18K |
|
1 Gram |
10 Gram |
|
November 08, 2024 |
₹6,042 |
₹60,420 |
November 07, 2024 |
₹5,973 |
₹ 59,730 |
November 06, 2024 |
₹6,111 |
₹61,110 |
November 05, 2024 |
₹6,103 |
₹61,030 |
November 04, 2024 |
₹6,112 |
₹61,120 |
Predominantly, taxes affect the gold rate today in Goa. Goa is also not exempt from these. The GST on jewellery is charged at 3%. The GST on jewellery is charged at 3%. A 5% GST tax is also charged on making charges (labour costs). This results in a higher price of gold.
Gold has a direct relationship with inflation. People prefer to invest in gold because this precious metal is considered more stable than currency. So, when inflation increases, the demand for gold also shoots up, raising the gold rate in Goa.
24-Carat gold is considered pure as it does not have any other metal mixed with it. Because it is the purest form of metal, the 24-karat gold price in Goa is the highest compared to 22-carat gold. Note that it is not used in making regular jewellery.
The gold rate today in Goa depends on the purity of the metal. You cannot evaluate how pure gold is just by looking at it. However, you can find out how purity is evaluated through testing machines. Most jewellers today have digital purity machines to test the purity of any metal, be it gold or silver. By placing the gold into the machine, you can automatically get an idea about its grade of purity as well as caratage.
Acid testing is when jewellers scratch out a bit of metal and place a few drops of nitric acid on it. In case the acid turns white or green, it either indicates that the metal is just plated with gold or is fake. However, when the colour remains the same, the gold is authentic.
Hallmark/Stamp on genuine gold or the BIS hallmark or stamp certifies it to be real. While the gold rate in Goa may be higher if it carries a hallmark, it's worth spending more to get a certified stamp. The magnet test is also viable as gold is non-ferrous and it should not get attracted to a magnet. If it does, it is fake or contains some impurities.
The Government of India has made it mandatory for jewellers to sell gold having the BIS hallmark, effective from June 16, 2021.
However, certain types of jewellery are exempted from BIS hallmarking in Goa and elsewhere. These include jewellery weighing less than 2 grams, articles of gold thread, kundan, polki, jadaau, etc. Jewellers, with an annual turnover of ₹40 Lakhs, are exempted under the BIS rules.
The GST on gold rate in Goa is fixed at 3%. An additional 5% charge is levied as making charges on any form of jewellery.