Gold Rate in Kakinada Today

Monitoring gold prices in Kakinada on a daily basis helps make more informed purchasing decisions. Even slight fluctuations in price can have a significant impact on the overall purchase cost. Market conditions, economic trends, and currency movements, among other factors, influence gold rates. 

 

Additionally, if you are planning to take a gold loan, keeping track of price changes is crucial. This is because fluctuations in gold prices can directly affect the loan amount you are eligible for based on the same quantity of gold.

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

Gram	22 Carat Gold Rate Today	22 Carat Gold Rate Yesterday	Daily Price Change
1 Gram	₹7,550	₹7,550	₹0
10 Gram	₹75,500	₹75,500	₹0
100 Gram	₹755,000	₹755,000	₹0

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

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

Investment in this precious metal allows you to build a diversified portfolio that hedges against inflation. You can purchase or invest in gold through these ways:

• Digital Gold

One way is to purchase digital gold through various online platforms. It is easily tradable and trackable, making it a flexible way to invest in gold.

 

Read also: Digital Gold vs SGB

• Sovereign Gold Bonds (SGBs)

Issued by the Reserve Bank of India, these bonds offer a fixed interest. The value of SGBs is linked to the gold's price, meaning you can benefit from potential appreciation if gold prices rise. Also you must also know about SGB vs physical gold for your need comparison.

• Gold Mining Stocks

Investing in gold mining companies offers exposure to the gold market without directly purchasing physical gold. This could be a way to capitalise on the growth of companies involved in gold extraction.

• Gold Exchange Traded Funds (Gold ETFs)

These are investment funds that invest in physical gold and track the price of gold. These are traded on stock exchanges.

If you are considering buying gold in Kakinada, it is crucial to keep these factors in mind:

• Choose Reputable Jewellers

Select well-established jewellers with a strong reputation to ensure credibility and quality. Try asking for recommendations or reading online reviews to ensure the jeweller is trustworthy.

• Stay Informed on Gold Prices

Monitor current gold prices from recognised commodity exchanges to understand market trends. Being aware of the prices helps you make well-informed decisions and avoid overpaying.

• Ensure Hallmark Certification

Look for gold items that have hallmark certification from the Bureau of Indian Standards (BIS). This guarantees the purity of the gold and provides assurance of its quality.

 

Read also: Gold Hallmarks - How to Identify Hallmark on Gold Jewellery

• Obtain Proper Documentation

Always request receipts and the necessary paperwork for each purchase. These documents are essential for future claims, returns, or verification of authenticity. If a jeweller does nor provide proper documentation, it is advisable not to buy gold items from their store.

• Be Aware of Additional Fees

Check for any additional charges, such as making charges or other hidden fees, before finalising your purchase. High charges can substantially increase the total cost.

• Compare Multiple Offers

Research and compare several jewellers to compare prices, designs, and options. This will help you find the best value, along with jewellery designs that match your taste.

Several geopolitical development and economic factors influence the prices of this glittering metal. Here are some of the major factors:

• Local Market Demand

Cultural events play a significant role in shaping the local demand for gold jewellery. During weddings or festivals, demand usually rises, which can cause gold prices to increase.

• Currency Strength

The strength of the U.S. dollar impacts gold prices. When the dollar is strong, gold becomes more expensive and vice-versa.

• Geopolitical Events

Political instability or conflicts often lead investors to seek safer assets, like gold. Events such as wars or economic crises typically enhance the demand for gold, and hence, prices also increase.

• Import Duties and Regulations

In India, government policies, such as import duties and taxes on gold, can directly affect gold prices. Any changes in regulations or costs associated with importing gold can influence its price for the public.

Here are some ways to assess the purity of gold before making a purchase:

• Hallmark Verification

Use a magnifying glass to look for hallmark stamps and certifications. These stamps on the gold item confirm that the gold meets established purity standards. You need to check the BIS hallmark, jeweller’s identification code, the karat level, mark of the hallmark centre, etc., when buying gold items like Gold coin, bar, gold jewellery etc.

• Check for Discolouration

Examine the gold for any signs of tarnishing or discolouration. These can indicate the presence of impurities mixed with the gold.

• Magnet Test

Pure gold is non-magnetic. So, if the gold piece is attracted to a magnet, it may contain other metals or alloys.

• Professional Nitric Acid Test

A jeweller carries out this test, and it is a reliable way to confirm gold purity. Pure gold does not react to nitric acid, while other metals will show a reaction.

Changes in the GST rate on gold directly affect gold prices. Under the current taxation regulations, purchasing gold jewellery attracts a 3% GST on the value of the gold, along with an additional 5% tax on making charges.

Gold loans offer flexible borrowing with competitive interest rates, making them an excellent option for immediate financial needs. With gold as collateral, these loans have fewer documents for eligibility requirements and are easier to access. 

 

The loan amount is based on the market value of the gold, so if gold prices rise, you can borrow more. If they fall, the loan amount you can get for the same quantity of gold will decrease. 

 

By comparing interest rates from different lenders, you can get a good deal on your loan. At Bajaj Markets, applying for gold loans online is quick and easy.