Gold Price in Raigarh Today

Raigarh is the cultural capital of Chhattisgarh. When it comes to culture, gold holds a special place in Indians’ hearts. It is worn by people of all ages and genders on numerous occasions. Besides holding cultural significance, gold is also a viable investment option for Indians, including those in Raigarh. However, this does not mean you can buy gold without any research. You should check the gold price in Raigarh and how it has changed over the days to make a strategic decision.

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

Gram	22 Carat Gold Rate Today	22 Carat Gold Rate Yesterday	Daily Price Change
1 Gram	₹8,980	₹8,980	₹0
10 Gram	₹89,800	₹89,800	₹0
100 Gram	₹898,000	₹898,000	₹0

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

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

You have three primary options for investing in gold in Raigarh.

Physical Gold

The traditional way to invest in this metal is to buy physical gold in the form of gold jewellery, coins, or bars. Many people might find this a convenient way to buy this commodity, especially during festival seasons. Makar Sankranti, Gudi Padwa, Akshaya Tritiya, Navratri, Dussehra, and Dhanteras are considered auspicious days to purchase gold. Demand-driven price increases are common during these festivals.

Exchange-Traded Funds (ETFs)

Another way to invest in gold in Raigarh is through gold Exchange-Traded Funds (ETFs). These are financial instruments, like equity stocks, that can be traded with a demat account. This makes them a potential option for someone looking for more liquidity in gold investments. Like any company's stock, you can buy and sell units of gold with a demat account.

Sovereign Gold Bond (SGB)

Sovereign Gold Bond (SGB) is a government-backed bond issued by the Reserve Bank of India (RBI). SGB is free from issues like making charges, purity, or storage, which are usually associated with physical gold.

Disclaimer: The Indian government has recently paused SGB amid rising gold prices. Those who have invested in SGB can apply for premature redemption.

Buying gold in Raigarh without considering the proper factors might make you invest when the rate or demand is high.

• Check Gold Rate: Gold rates can fluctuate daily based on numerous factors. Therefore, it is important to research the gold price in Raigarh, Chhattisgarh, before buying it. The price of physical gold can vary based on its purity. Therefore, you should check out prices for the gold carat you want to buy.

• Type of Gold Investment: As mentioned above, there are multiple ways to invest in gold, each with its advantages and disadvantages. You need to understand all the investment options available and choose the one that suits your requirements.

• Ensure Certification: Research about and look for hallmark certification when buying gold. Assaying centres like the Bureau of Indian Standards (BIS) give these hallmarks to certify the purity of gold.

• Find Reliable Jewellers: Buy gold only from established and reliable jewellers, especially when purchasing online. You can research reviews or seek recommendations to ensure credibility and authenticity.

• Understand Charges: When buying gold, you need to understand its additional charges. You should consider the making charges and GST taxes associated with physical gold. ETFs and SGBs may have varying transaction charges based on where you purchase them.

When you look for the gold price today, when in Raigarh, it will be different from historical gold rates because it may fluctuate every day based on these factors:

• Global Market Rates: International gold prices can influence gold rates in Raigarh, though local factors also play a role.

• Currency Strength: The strength of the Indian Rupee against the US Dollar can influence gold rates.

• Economic Instability: Instability, be it in the international or national economy, can lead to price fluctuations.

• Demand and Supply: Both local and global demand and supply can impact gold rates. When demand is high, especially during festivals, prices tend to increase.

• Market Speculation: Gold investment based on market sentiments and speculative trading can cause short-term fluctuations.

• Government Policies: Import duties and other government regulations can impact costs.

Today’s gold prices in Raigarh for 22-karat and 24-karat gold are different because of the purity. However, there is a chance that the seller might sell you low-purity or fake gold while charging you high. Thus, you need to know how to evaluate the purity of gold in Raigarh, which can be done by one of the following methods:

• BIS Hallmark: Most countries have a central body that assesses the standards and purity of gold jewellery and certifies it with a hallmark stamp. In India, the BIS gives this hallmark stamp and purity and fineness measures. The gold also has a six-digit alphanumeric Hallmark Unique Identification (HUID) code stamp.

• Acid Test: You can put a drop of nitric acid on the surface where gold traces remain after rubbing it with a black stone. The reaction reveals the purity of gold.

• Density Test: Testing gold’s weight and volume can be helpful, as it has a high density. You can weigh the gold and then submerge it in water to see how much displacement there is. You can use the formula Density = Mass / Volume to find out the density of gold, which should be around 19.3 grams per cubic centimetre.

• X-Ray Fluorescence (XRF) Test: This method uses X-ray technology to find the composition of gold within seconds.

• Electronic Gold Testing: Electric signals are sent to this metal to check its resistance, which is compared with the standard levels of gold.

• Ultrasonic Testing: Sound waves are used to detect the density of gold, which helps detect fake or hollow items.

• Fire Assay Method: This method is highly accurate as it involves melting gold to analyse its content. However, it may result in losing a small amount of gold in the heating process.

• Magnetic Test: Gold is not magnetic, so you can use this test to differentiate real and fake gold. However, it might not help determine the exact purity of gold.

GST can have a significant impact on the gold price in Raigarh. The Indian government has imposed a 3% GST on gold purchases and an additional 5% GST on making charges. This can increase the overall gold price. Here’s an example:

 

Suppose the gold price today in Raigarh is ₹8,900 per gram for 24 karat, and you buy a gold jewellery item weighing 50 grams with making charges of ₹13,000.

 

In this case,

 

The cost of gold will be 8,900 x 50 = ₹4,45,000

 

GST on gold purchase will be 4,45,000 x 3% = ₹13,350

 

GST on making charges will be 13,000 x 5% = ₹650

 

In total, the cost of buying this particular gold jewellery in Raigarh will be ₹4,59,000.

 

Disclaimer: This is an illustrative example. The actual gold rate in Raigarh may differ and fluctuate based on multiple factors.

Gold loans are secured loans offered based on the underlying asset's value, which is gold in this case. Therefore, gold rates in Raigarh can directly impact gold loans. When the price is high, you can potentially access a higher loan amount. Conversely, your maximum loan will also be reduced if the price declines.

 

You can compare gold loan providers on Bajaj Markets. From interest rates to the maximum loan amount, check all the details you need to make an informed gold loan decision from a single place.