Gold Rate in Gujarat

There are other ways to check the purity of gold 

• Magnet – If you mix gold with some other metal, it 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 that the customer can buy 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 jeweller who owns a Carat- checker machine. The machine checks the gold commodity and provides results regarding gold purity.

• Market Scenario – The gold rate in Gujarat will experience fluctuations especially 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 Gujarat.

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

• Taxes & Charges – 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.

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

• Receipt of purchase – The receipt of purchase will help the customer during the exchange and sale of gold. Therefore, it is advisable to always purchase gold under a bill and ask the jeweler to issue a receipt of the purchase.

• 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 of gold in Gujarat.

• Making charges – The customer should also carefully analyze and discuss the making changes that will be added to the final bill apart from the live rate of gold in Gujarat. These making charges differ from jeweler to jeweler.

• Global Crisis- Every instance at the national or international level lead to increased demand for gold to ensure stability and security. In such a scenario, the price of gold will rise.

• Government Policy-Fuel Prices, Interest Rates, Tax Rates, etc., any change in the values of these government-regulated policies affect Gujarat's gold interest rates.

• Gold Reserve of India -When the Government of India plans to add or expand gold reserves, there is a sudden demand for gold in the market, resulting in higher gold prices.

• Currency Fluctuations- The price of gold in the Indian market is directly proportional to the strength of the Indian rupee in the international market against the US dollar. When the value of the Indian rupee declines internationally, the price of gold rises and vice versa.

• Gold Bars – Individuals can purchase gold bars and coins from e-retailers or 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.

• Electronic gold – To invest in electronic gold like ETFs, etc, an individual can directly invest on a trading platform or contact a stockbroker.