The rates of gold in Maharashtra have not been fluctuating sharply lately, but when you go to purchase gold in bulk, even slight changes matter in the final price you pay. Therefore, it's critical to know the gold price today. Gold price in Maharashtra is mentioned in the following gold rate table:
Gram |
24 Carat Gold Rate Today |
24 Carat Gold Rate Yesterday |
Daily Price Change |
1 Gram | ₹ 4,802 | ₹ 4,802 | ₹ 0 |
8 Gram | ₹ 38,416 | ₹ 38,416 | ₹ 0 |
10 Gram | ₹ 48,020 | ₹ 48,020 | ₹ 0 |
100 Gram | ₹ 4,80,200 | ₹ 4,80,200 | ₹ 0 |
Gold is a distinctive metal that you can invest in by many means. Tradition and culture in Maharashtra still demands the purchase of physical gold, but if you don’t want the risk of it being stolen or lost, you can explore other investment avenues. ETFs or derivative gold contracts with gold commodities as assets. Any or all of these are good investment options, but before you dive in, you need to know about gold rates today. 24 carat gold rate in Maharashtra and 22 carat rate fluctuations are necessary to know about, as you can see below:
Date |
STANDARD GOLD 22K |
PURE GOLD 24K |
||
1 Gram |
10 Gram |
1 Gram |
10 Gram |
|
Oct 22, 2021 | ₹4,573.00 | ₹ 45,730.00 | ₹ 4,802.00 | ₹ 48,020.00 |
Oct 21, 2021 | ₹4,573.00 | ₹ 45,730.00 | ₹ 4,802.00 | ₹ 48,020.00 |
Oct 20, 2021 | ₹4,563.00 | ₹ 45,630.00 | ₹ 4,791.00 | ₹ 47,910.00 |
Oct 19, 2021 | ₹ 4,550.00 | ₹ 45,500.00 | ₹ 4,872.00 | ₹ 48,720.00 |
Oct 18, 2021 | ₹ 4,549.00 | ₹ 45,490.00 | ₹ 4,871.00 | ₹ 48,710.00 |
Oct 17, 2021 | ₹ 4,548.00 | ₹ 45,480.00 | ₹ 4,870.00 | ₹ 48,700.00 |
Oct 16, 2021 | ₹ 4,549.00 | ₹ 45,490.00 | ₹ 4,871.00 | ₹ 48,710.00 |
Oct 15, 2021 | ₹ 4,609.00 | ₹ 46,090.00 | ₹ 4,935.00 | ₹ 49,350.00 |
Oct 14, 2021 | ₹ 4,609.00 | ₹ 46,090.00 | ₹ 4,935.00 | ₹ 49,350.00 |
Oct 13, 2021 | ₹ 4,536.00 | ₹ 45,360.00 | ₹ 4,780.00 | ₹ 47,800.00 |
As it is important to be informed about today’s rate of gold in Maharashtra, it is also vital to know about how pure the gold that you purchase is. Among the grades of purity that you get for retail today, 22 carat and 24 carat are the grades sold in India. Decided by the Bureau of Indian Standards or BIS, the purity standards are marked on any piece of gold to be sold, with a hallmark or stamp indicating authenticity.
Let’s say you wish to purchase gold and know the gold rate today in India. Maharashtra rates are what you should know as rates differ from state to state. Apart from this information, it is essential to get a hang of how to test gold purity, or at least, let the seller test it before you make purchases. Here are four ways:
Assuming you live in Maharashtra, gold today price-wise suits you and you have decided to buy some. In advance of your purchase, you should consider the following:
The gold rate today in Maharashtra, 22 carat being the most loved here, is quite steady, but can change with demand at any time. Maharashtra is the most economically developing state in India today, with Mumbai as the financial capital of the country. Ornaments are also bought for every occasion and gold is preferred for festivals and marriages alike, not to mention to be given as gifts at Rakshabandhan and other festivals. Thus, the shine of gold is everlasting in Maharashtra.
When you know the 1 gram gold price in Maharashtra, it's simple to calculate the price of gold you purchase and know about making charges added to that. On asking most people in Maharashtra today, they would tell you that investing in physical gold like ornaments is the best form of investment, but the high making charges tend to put people off. More and more people are investing in gold without the bother of its actual form, and these are all the ways that people invest:
Indian gold production is nowhere near commensurate with the desire for gold that people have. Hence, gold is in short supply in a country like India where the demand is high. What’s the solution? The answer lies in the importing of gold from other countries into India. However, only those who hold a certification of import generated by the Directorate General of foreign Trade can import gold. You may find that the price of gold in Maharashtra changes due to the factors of supply and demand within the state.
While tracking any form of gold rate today, 24 carat gold in Maharashtra is prone to fluctuate, if not a lot, still enough to impact the price of gold you may buy. The reason for this is simply because of demand and supply variables. The more the supply, the price decreases, and vice versa.
You might think the current gold rate in Maharashtra isn’t as volatile as it used to be, but you must be aware of factors that can affect gold rates at any time:
● Inflation - Gold is said to be an inflation-proof form of investment, not affected by market trends and the general state of the economy. However, when there is high inflation, people view gold as a safe haven and tend to stockpile it. This creates a demand and takes the price up.
● Interest - The gold rate in Maharashtra today is influenced, to a specific degree, by prevailing interest rates. If interest rates are low, then the price of gold is very likely to rise.
● Reserves of the Government - In order to maintain the balance of the rate of gold in India, the government stores gold reserves. This is not just the case with India, but is a practice with governments all over the globe. Nonetheless, how does this impact the gold rate? If the government ends up buying more gold, there will be a shortage for citizens and more of a demand. This will take the price of gold to new heights.
The GST is one of the highest taxes charged on commodities like gold these days. A 3% GST is levied on any gold jewellery that you choose to own today. Moreover, a GST of 5% is charged on making costs when gold jewellery is bought. Making charges do not have any cap on them, and in flagship jewellery brands, making charges are high. Taxes over and above this can take gold rates higher, especially in Maharashtra.
A visit to any jewellery store will introduce you to different kinds of gold. Although this sparkling metal looks the same everywhere you see it, it is not. There are two types of gold generally - KDM gold and Hallmarked gold. Read on to find out what they signify:
● KDM - An ornament that constitutes KDM gold has 92% of gold in it. The rest may be another metal such as cadmium. However, cadmium has been abolished for use by the Bureau of Indian Standards as it has a toxic effect on the wearer. Now, jewellery may be 92% gold fused with safe metals like zinc or copper.
● Hallmarked - The Bureau of Indian Standards marks all gold with a stamp of certification of authenticity. This stamp is called a hallmark and practically guarantees that you purchase genuine metal. So if you know today’s rate of gold in Maharashtra, and you know that your gold is pure, you can easily calculate how much you are paying for making charges.
Consider this situation. You have made a decision to invest in gold, but don’t wish to make a purchase of any form of physical gold for reasons best known to you such as the risk of theft or loss. You can then invest in Gold ETFs or Sovereign Gold Bonds. A lowdown on features is mentioned below:
● Gold in Physic - These are mutual funds called Exchange Traded Funds. Resembling the way stocks are traded on exchanges, these are traded with gold as the asset base. If you invest in these, there’s no lock-in period and 1 gram is the minimum unit you should invest. The good part is that there is no maximum amount that you are required to invest.
● Sovereign Gold Bonds - These are secured bonds backed by the Indian government, provided in multiples of grams in gold. Unlike ETFs, there is a lock-in period spanning 5 years and the investment tenure is fixed at 8 years. 1 gram is the minimum required for you to start investing. Here, the maximum investment is capped at 4 kilogrammes.
Once you have familiarized with aspects of gold investment and know the rates, there is no better way to invest. You can find a host of gold investment products at Bajaj Markets.