Gold Rate in Guntur Today

Tracking gold prices in Guntur daily puts you in a better position to make informed purchasing decisions. Even slight fluctuations in gold prices can have a significant impact on the overall cost. Fluctuations in gold prices can also impact the amount you get in case you are getting a gold loan.

 

Before making a purchase, comparing prices from multiple vendors is advisable. This approach allows you to find competitive rates and ensures you pay the right amount for the purchase.

Check out the gold price today in Guntur for different weights below.

Gram	22 Carat Gold Rate Today	22 Carat Gold Rate Yesterday	Daily Price Change
1 Gram	₹7,630	₹7,630	₹0
10 Gram	₹76,300	₹76,300	₹0
100 Gram	₹763,000	₹763,000	₹0

Gold price in Guntur with fluctuations in the last few days, is shown below:

Gold price in Guntur with fluctuations in the last few days, is shown below:

After checking today’s gold prices in Guntur, here are some options you can explore to invest in gold:

• Digital Gold

Apart from physical gold, you can buy digital gold through various platforms, so you do not need to worry about storing it. It is easy to sell and track, offering a convenient way to invest.

• Gold Exchange Traded Funds

Gold ETFs track the price of gold and are traded on stock exchanges. Remember to go ahead with a reputable broker or Asset Management Companies (AMCs) for added security.

• Sovereign Gold Bonds

You can earn a fixed interest with these government-backed bonds introduced by the Reserve Bank of India (RBI) without the hassle of handling physical gold. You can redeem them for cash when they mature.

• Gold Mining Stocks

Investing in companies that mine gold gives you exposure to the gold market without having to buy physical gold. This can be an excellent way to benefit from the potential growth of such companies.

• Gold Futures

Gold futures can be a way to hedge against price fluctuations and access funds in difficult situations.

If you are buying gold in Guntur, here are some crucial factors to keep in mind:

• Stay Informed on Gold Prices

Keep track of current gold rates from commodity exchanges to understand market trends. This will help you make an informed decision on when to buy and at what price.

• Compare Multiple Jewellers

Visit several jewellers to compare prices and product options. You can ask for recommendations from your friends and family or check reviews online to ensure their quality and credibility.

• Get Proper Documentation

Always ask for receipts and paperwork for each item you purchase. These documents are crucial for any future claims or verification of authenticity. 

 

These may also come in handy while exchanging or selling the items. It is advisable not to buy gold from a jeweller that does not provide proper documents. 

• Ensure Hallmark Certification

Select gold items that come with hallmark certification from Bureau of Indian Standards (BIS) to guarantee their purity. This is a critical factor for ensuring quality. Before going ahead with the purchase, check the markings with a magnifying glass.

• Check the Making Charges

Jewellers levy making-charges on gold jewellery as compensation for the labour they have put in to create the piece. Review the charges or additional fees in advance. High charges can significantly increase the overall cost of your purchase.

Several geopolitical developments and economic factors influence the gold rate in Guntur and elsewhere. These include:

• Local Market Demand

Cultural events and individual preferences affect the local demand for gold jewellery. During festive as well as wedding seasons, higher demand can drive up prices.

• Government Policies and Regulations

Changes in taxes or import duties on gold can significantly influence prices. Any shifts in government policies often lead to immediate changes in the local gold rates.

• Global Economic Conditions

Changes in the global economy, such as shifts in currencies or political developments, have a direct impact on gold prices. During economic downturns, investors often turn to gold as a safe haven, increasing its value.

• Market Sentiment

Investor confidence, trading volumes, and speculative trends all play a role in price fluctuations. When investors lose confidence in other markets, demand for gold may rise, which can push prices higher.

Read also: How Gold price is determined in India?

After reviewing the gold rates in Guntur, here are some methods to assess the purity of gold before making a purchase:

• Check for Discolouration

Look for any signs of tarnishing or discolouration on the gold. This could indicate the presence of impurities in the metal.

• Hallmark Verification

Use a magnifying glass to check for official purity stamps on the gold. Hallmarks are a reliable indicator of genuine gold content. Check for the BIS hallmark, jeweller’s identification code, the karat level, etc., when buying gold items.

• Magnet Test

Pure gold is not magnetic. If the gold attracts a magnet, it likely contains other metals mixed in, suggesting lower purity.

• Stone Acid Test

By rubbing the gold on a touchstone and applying acid, you can observe the reaction, which helps determine the purity of the piece.

• Professional Nitric Acid Test

A jeweller can perform this chemical test to confirm the purity of the gold. Pure gold will not react to nitric acid, while other metals will.

Changes in Goods and Services Tax (GST) rates directly impact gold prices across the country, including in cities like Guntur. These adjustments can cause fluctuations in gold costs. 

 

As per the current taxation rules, buying gold jewellery incurs a 3% tax on the gold's value, along with a 5% making charge.

Gold loans offer a flexible borrowing option with competitive rates, making them ideal for immediate financial needs. Using gold as collateral allows for easy access with minimal gold loan eligibility requirements.

 

The loan amount is tied to the market value of gold since you pledge gold as collateral while getting a gold loan. A higher price of the pledged item means a larger amount, while a decline can reduce the amount you can borrow.

By comparing interest rates from different lenders, you can make an informed decision and maximise your loan. At Bajaj Markets, comparing and applying for gold loans online is simple and convenient.