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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:

Gold Rate in Guwahati

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

Today 24 Carat Gold Price Per Gram in Guwahati

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

Today 22 Carat Gold Price Per Gram in Indore

The 22 Carat gold price in Guwahati today is:

 

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

  • Standard gold (8 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: 

 

Gold rate today Guwahati

Gold price in Guwahati yesterday

Rate change

24 Carat gold (1 gram)

Rs. 4,904

Rs. 4,904

No change

24 Carat gold (8 grams)

Rs. 39,232

Rs. 39,232

No change

22 Carat (1 gram)

Rs. 4,904

Rs. 4,904

No change

22 Carat (8 grams)

Rs. 39,232

Rs. 39,232

No change

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 (8 grams) is Rs. 30,440

 

GST on Gold in Guwahati

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: 

Tax

Pre- GST

Post- GST

Value Added Tax (VAT)

1%

Nil

Sales tax

1%

Nil

GST

Nil

3%

GST on making charges

Nil

5%

Gold and its Investments in Guwahati

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.

How to Invest in Gold ETFs in Guwahati?

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.

How to Invest in Sovereign Gold Bonds in Guwahati?

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.

How to Check the Purity of Gold in Guwahati?

Before buying gold in Guwahati, you must know how to identify a genuine gold item. To check the purity of gold, you can do a few simple tests:

 

 

1. The hallmarking test: The Bureau of Indian Standards (BIS) has made the process of hallmarking compulsory since June 16, 2021. To certify and guarantee purity, every gold item is embossed with four different official marks:

 

  • The BIS mark - This BIS logo certifies that the gold item has undergone testing in a BIS-certified lab.

  • Purity in Carat and fineness - You can look for various Carat and fineness purity marks, such as 22K916, 18K750 and 14K585.

  • Hallmarking centre’s mark - A genuine gold item will be embossed with the mark of the lab where it has undergone testing.

  • Jeweller’s unique mark - You must also look for the jeweller’s unique identification mark on your gold item. The list of registered jewellers and their marks are available on the BIS website.

 

2. Home testing kit: You can use a home testing kit to test the purity of gold in Guwahati. This test is based on the fundamental premise that nitric acid changes its colour when applied to impure gold. These home tests typically ask you to rub your gold item on a testing stone and then apply different concentrations of nitric acid on the mark. Based on the subsequent colour change, you can establish the purity of your gold.

 

  • Magnet test: You can use a strong magnet to test the purity of your gold item. While pure gold is not drawn to a magnet, impure gold consisting of other metal alloys will be drawn to a magnet.

  • Machine test: You can take your gold item to a certified gold seller or manufacturer to test its purity. Most gold sellers have a carat testing machine, which provides instant error-free reports.

What is the Demand for Gold in Guwahati?

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.

How is the Gold Rate in Guwahati Determined?

The gold price today in Guwahati is determined after considering a range of factors. From the international price of gold to the benchmark rate fixed by industry authorities and from demand and supply variables to market season, a complex set of factors play an important role in determining the gold rate in Guwahati. Here’s a look:

 

  • Global price of gold: India is the second-largest consumer of gold, next to China. But the gold reserves are not sufficient to meet the burgeoning demand. So the supply deficit is met through imports. As a result, any changes in the global prices of gold will directly impact the gold rates in India. Across global markets, the spot price of gold is determined daily at the London Bullion Market. International bullion traders and banks also play a crucial role in determining the spot price of gold. The futures price of gold - sourced at international commodity exchanges - also influences the global price of gold.

  • Benchmark price of gold: After considering the international price of gold, industry authorities, including the Indian Bullion and Jewellers Association (IBJA) fix the daily benchmark price of gold. This price is then used by gold retailers, including those in Guwahati, to finalise the retail rates for buying and selling gold.

  • Demand and supply factors: Typically, the gold rate in Guwahati is determined by demand and supply factors. An increase in demand will cause the gold rates to increase, while an increase in supply will reduce the existing gold rates. Conversely, a decrease in demand will cause the gold rates to fall, while a decrease in supply will hike the gold rates.

  • Market season: The price of gold today in Guwahati is determined only after considering the season in the gold market. For instance, during the festive season, there is a high demand for gold. This causes a hike in the gold rates.

What is the Mandatory Checklist for Buying Gold in Guwahati?

Before you buy gold, here’s a look at the list of five essential things:

 

  1. Verify the hallmarks: Look for all the four components of the BIS hallmarking process. A fake gold item can have one or more missing marks.

  2. Check the authenticity of the gold seller/vendor/manufacturer: You must ensure that the purchase is being made from a BIS-certified jeweller. Additionally, you can check for the gold seller’s trade license or IBJA membership.

  3. Check the gold rate: Before buying gold, do remember to check the gold rate today in Guwahati. While a higher gold rate can increase your purchasing cost, a drastically reduced price might indicate an adulterated or fake gold product.

  4. Understand the calculation of making charges: Making charges are not standard across all jewellers. So it is advisable to know the rates beforehand. If you find that the making charges are too steep, visit another seller.

  5. Know about the buy-back terms: While gold bars and coins can be easily sold, it can be difficult to sell your gold ornament at a premium price. So, ensure having a clear understanding of the buy-back terms and conditions.

Things to Consider Before Buying Gold in Guwahati?

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: 

Carat

Fineness

Pure gold percentage

Other metals percentage

22 Carats

916

91.6%

8.4%

18 Carats

750

75%

25%

14 Carats

585

58.5%

41.5%

  • 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.

What are the Factors that Influence Gold Rate in Guwahati?

Gold as a commodity is freely traded across global markets. And there is no regulatory body to decide or fix the prices. So a wide variety of factors influence the gold rates across the globe and in the country. Here’s is a look at some of the important factors that influence the gold price in Guwahati:

 

  1. Currency rate fluctuations: The price of gold is fixed across global markets in the US Dollar. So a strong US Dollar vis-a-vis the Indian Rupee (INR) will cause higher gold prices in India and in Guwahati.

  2. Interest rates: With a higher interest rate, people will hold their cash reserves instead of buying gold. This can cause low demand. This, in turn, can result in lower gold rates.

  3. International crises: During global crises, such as wars, destabilised financial markets, and so on, people resort to hedging the risks by purchasing more gold. The demand upsurge can cause the gold rates to increase.

  4. Import duty: If the government decides to increase the import duty on gold, the gold rates across India and in Guwahati will increase.

  5. Government gold reserves: Any policy decision of the government to increase its reserves of gold can cause an increase in demand for gold. This will cause the gold rates to rise.

  6. Economic issues: Economic issues in the country, such as inflation, has a direct impact on the gold price in Guwahati. This is because during inflation, people tend to buy more gold. The rising demand has a cascading effect on the gold rates.

What are the Different Places where One can Buy Gold in Guwahati?

If you are buying paper gold, such as Gold ETFs and Gold SGBs, you can contact a SEBI-registered intermediary or broker. But if you prefer buying physical gold, then depending upon the type of gold item, you can visit different places. Here’s a look:

 

  • If you are buying gold jewellery: To buy gold jewellery, you can make a physical visit to a store. Do remember to check the purity of gold and consider the making charges.

  • If you are buying gold coins: To buy gold coins, you can visit banks, Non-Banking Finance Companies (NBFCs), e-commerce websites and jewellery stores. These can also be ordered online. Purchasing the highest purity gold coins from banks can cost more as compared to jewellery stores, but these coins can provide better quality standards.

  • If you are buying gold bars: You can visit a recognised bullion trader to buy 24 Carat pure gold bars. For instance, MMTC sells gold bars and coins through its outlets. Buying gold bars and coins from bullion traders can provide you with better buy-back terms and lower mark-up charges. 

FAQs

  • ✔️What is 585 gold in Guwahati?

    585 gold is the same as 14 Carat gold.

  • ✔️What is the price of 24 Carat gold in Guwahati?

    The per gram 24 Carat gold price in Guwahati today is Rs.4,877.

  • ✔️What is the today gold rate in Guwahati per 10 gram for 22 Carat gold?

    The today gold rate in Guwahati per 10 gram for 22 Carat gold is Rs. 46,450.

  • ✔️What has been the gold rate in Guwahati for the last five days?

    Here’s a look at the gold price in Guwahati for the last five days:

    Date

    Rate per gram for 22 Carat gold

    Rate per gram for 24 Carat gold

    December 5, 2021

    Rs. 4,650

    Rs. 4,883

    December 4, 2021

    Rs. 4,650

    Rs. 4,883

    December 3, 2021

    Rs. 4,620

    Rs. 4,851

    December 2, 2021

    Rs. 4,635

    Rs. 4,867

    December 1, 2021

    Rs. 4,635

    Rs. 4,867

  • ✔️What is the GST for repairing or polishing my old jewellery?

    For repairs and polishing, a 5% GST rate is applicable. 

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