Gold Rate in Guwahati

The security and reliability of gold investments have made it among the most favoured asset class in the country. The returns from gold investments are stable and inflation-proof. Besides, this precious metal has also held a unique place in Indian culture. The purchase of gold symbolises wealth, luck and good fortune. Despite the daily shifts in the gold rates, the yellow metal is an excellent choice for diversifying your investment portfolio. If you are a resident of Guwahati, looking forward to investing in gold, here’s everything you wanted to know

Here’s a look at today gold rate in Guwahati per 10 gram

• 24 Carat pure gold: 10 grams for Rs. 48,830

• 22 Carat standard gold: 10 grams for Rs. 46,500

The 24 Carat gold price in Guwahati today is

• Pure Gold (1 gram gold price in Guwahati) is Rs. 4,904

• Pure Gold (8 grams gold price today in Guwahati) is Rs. 39,232

The 22 Carat gold price in Guwahati today is

• Standard gold (1 gram gold price in Guwahati) is Rs. 4,670

• Standard gold (10 grams gold rate today Guwahati) is Rs. 37,360

Before making gold investments, you should also understand its price fluctuations. Here’s a comparative table for the gold rates: 

If you want to purchase 18 Carat gold, here’s a look at today’s 18 Carat gold rate in Guwahati

• 18 Carat gold (1 gram) is Rs. 3,805

• 18 Carat gold (10 grams) is Rs. 30,440

The introduction of the Goods and Service Tax in 2017 levied four different tax slabs, both for goods and services. It provided for a streamlined and effective tax regime by subsuming 17 indirect taxes.

Before GST, consumers had to pay a range of indirect taxes, such as Value Added Tax (VAT), sales tax, and more, on goods and commodities. Here’s a look at the pre-GST tax on gold

• VAT on the value of gold: Consumers had to pay 1% VAT on the total value of gold purchased.

• Sales tax on gold: Along with the VAT, a 1% sales tax was levied on your gold purchase.

The introduction of GST not only changed the existing process of taxation but also widened the scope of taxes. For the first time, the service sector was brought within the ambit of taxation. As the making of gold jewellery was a service, consumers had to pay GST on making charges. Also, a flat rate was introduced on the purchase of gold. Here’s a look at the post-GST impact on Gold prices

• Flat rate on gold purchase: Now, consumers have to pay 3% GST on their gold purchase.

• GST on making charges: At present, consumers have to pay 5% GST on making charges.

To have a better understanding of how GST impacted the current gold price in Guwahati, refer to the table given below: 

As a resident of Guwahati, you can invest in the physical metal itself or choose a viable alternative, such as gold ETFs, gold SGBs and gold mutual funds. Before making any investment in gold, you must assess your investment objectives and risk appetite. Here’s a look at the various investment options

• Investments in the yellow metal: You can choose to purchase gold coins, bars and ornaments. However, with physical gold, you need to consider storage and security issues. Also, you have to pay the making charges.

• Investment in gold mutual funds: Investing in gold mutual funds can provide you several benefits, including liquidity, flexibility and affordability. These funds primarily invest in gold bullion. One unit of gold mutual funds is the same as one gram of physical gold.

Known as electronic gold, these Exchange-Traded-Funds (ETFs) are traded across stock exchanges. Over the years, gold ETFs have become popular because of their ease of trading and the convenience of carrying out transactions. To invest in gold ETFs in Guwahati, you are required to open a Demat and trading account with a registered stockbroking company. You can start trading in these gold derivatives with a minimum of one unit. Unlike physical gold, you don’t have to pay for the making charges or account for its safety.

Sovereign Gold Bonds (SGBs) are government-backed securities, which comes with an investment tenure of eight years. Along with annual interest payouts, you receive the sovereign guarantee of receiving the redemption amount on maturity. SGBs can be redeemed after a lock-in period of five years. You can purchase SGBs from registered entities, such as banks, designated post offices and stockbrokers.

Guwahati is considered the gateway of North East India and is the largest city of Assam. Historically, gold has remained a coveted commodity, signifying wealth and status. The demand for gold picks up during the wedding season and amidst festivities. With rapid industrialisation in and around the city, people now have a higher disposable income and look forward to making gold investments. Along with gold jewellery, gold coins and bars have a strong consumer base in Guwahati. Recently, people have also started investing in alternatives to physical gold.

Along with a list of the essentials, you must also consider some important variables. These include

• Purity measures of gold: Before buying gold in Guwahati, you must understand the Carat and fineness purity measures. The purity of gold is expressed both in Carats and fineness. Pure gold is of 24 Carats and has parts per thousand purity or fineness of 999. To have a clear understanding of the purity measures, refer to the table given below: 

• Consider getting a physical receipt: In the absence of a physical receipt, it will be difficult to prove the authenticity of your transaction. Besides, a receipt is essential when it comes to selling your gold item or making an exchange. Many sellers can also insist on a receipt for getting your gold ornament repaired.

• Consider weighing your gold: Before you purchase gold in Guwahati, ensure that the gold item is weighed correctly. See whether the seller is using a standard/legal weighing scale or balance. This is because even a difference of one gram can make a huge difference in your purchasing cost.