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Gold Price 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

24 Carat Gold Rate Today

24 Carat Gold Rate Yesterday

Daily Price Change

1 Gram

₹7,369

₹7,424

-₹55

10 Gram

₹73,690

₹74,240

-₹550

100 Gram

₹7,36,900 

₹7,42,400 

-₹5,500

Disclaimer: The gold rate in Goa is subject to change due to fluctuating market prices. Please check the actual rates with vendors at the time of purchase.

22 & 24 Carat Gold Rate in Goa for the Last 10 Days

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

PURE GOLD 24K

1 Gram

10 Gram

1 Gram

10 Gram

Apr 22, 2024

₹6,755.00

₹67,550.00

₹7,369.00

₹73,690.00

Apr 21, 2024

₹6,808.00

₹68,080.00

₹7,424.00

₹74,240.00

Apr 20, 2024

₹6,808.00

₹68,080.00

₹7,424.00

₹74,240.00

Apr 19, 2024

₹6,815.00

₹68,150.00

₹7,434.00

₹74,340.00

Apr 18, 2024

₹6,765.00

₹67,650.00

₹7,380.00

₹73,800.00

Apr 17, 2024

₹6,795.00

₹67,950.00

₹7,413.00

₹74,130.00

Apr 16, 2024

₹6,795.00

₹67,950.00

₹7,413.00

₹74,130.00

Apr 15, 2024

₹6,705.00

₹67,050.00

₹7,315.00

₹73,150.00

Apr 14, 2024

₹6,650.00

₹66,500.00

₹7,255.00

₹72,550.00

Apr 13, 2024

₹6,650.00

₹66,500.00

₹7,255.00

₹72,550.00

Gold Investment in Goa

As elsewhere, gold is considered a popular metal for investment in Goa. Hence, this metal is considered precious all across the state and for individuals across age groups. As Goa is an international tourist destination, there is an influx of Indian and foreign investors who buy gold here.

 

Several foreigners have set up their businesses in Goa and see gold as a lucrative investment channel.

 Indians, too, prefer to invest in this metal as it gives high returns. Thus, you must know the gold rate today in Goa if you consider investing in this precious metal.

 

Investing in gold in the Indian state of Goa is not a challenge, and you can find several means of investment easily. Just look at the gold price today in Goa, and get on the investment bandwagon with the following:

  • Gold Derivatives and Mutual Funds: Derivative contracts like F&O are an excellent way to invest in gold as it sees superb returns. You can earn from the short-term movements in the market. You can also invest in gold-based mutual funds without physical gold.

  • Physical Gold: The most apparent option for Indians to invest in gold is purchasing gold in any physical form, like jewellery, coins, bars, etc.

Read More

Points to Remember when Buying Gold in Goa

When you are looking at the gold rate today in Goa, you need to consider some factors before you make purchases, like the following:

 

1. Check the Purity Grade: It does not matter if you are checking the gold rate in Goa today for 10 grams or 50, you still need to be sure of the purity when you buy.

 

2. Get a Valid Invoice: When buying gold in any form, be it coins or jewellery, you must receive an adequate and proper invoice from the seller. If you want to resell the gold, you will have to furnish this document in order to get an accurate sum. This invoice should include details about the following:

  • Purity and hallmark

  • Pricing

  • Details of the seller, like GST number and contact

  • The weight of metal and making charges

Be Aware of Making Charges: Sellers always add making charges to any gold jewellery they sell. These labour costs are not standardised, and thus, sellers sometimes charge what they please. So, it is apt to inquire about these charges when purchasing.

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Factors that Affect Gold Prices in Goa

The current gold rate in Goa is not merely affected by demand and supply factors but also others, as you can see below:

  • Inflation: Inflation by itself does not take the price of gold up. However, when there is a state of inflation, the purchase of gold shoots up as it offers a security tool. As the demand for metal increases, its rate also goes up.
  • Rates of Interest: When interest rates go up, gold prices go down. This would be the best time to purchase gold.

  • Reserves of the Government: For the gold rate to remain relatively stable, the Government of India makes it a practice to keep aside gold in reserves. When the Indian Government buys more gold, the price of the metal shoots up.
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How is the Purity of Gold Evaluated in Goa?

When gold has to be purchased, it's one thing to know the gold rate in Goa. Although gold rates remain fairly steady, you must educate yourself on the purity of the metal you buy.

The most common grades of purity are 22-carat and 24-carat. These two are mainly sold in the Indian market.

 

The Bureau of Indian Standards, or BIS, is the main determiner of gold's purity grade. It certifies each piece of metal with a BIS Hallmark or stamp. As a consequence, the hallmark gold rate in Goa should be known to you.

Read More

GST Impact on Gold Rate in Goa

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.

FAQs on Gold Rate in Goa

Does inflation play a role in the price of gold increasing in Goa?

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.

How pure is 24-carat Gold 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.

How can I check if Goa gold is pure?

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.

Can Indian jewellers sell gold which is not hallmarked in Goa?

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.

How much GST is levied on gold in Goa?

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.

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