Gold Rate in Rajasthan

India is the largest consumer of gold in the world. It holds almost 20-25% of the world’s total consumption. For centuries, gold has remained one of the most valued metals in India. It has a huge market and has been an excellent investment option for years. Gold in the form of trendy jewellery, gold coins or gold bars is popular in India. It is an excellent choice for diversifying your investment portfolio. The gold rate in India changes daily, and it is due to several factors. Depending on the demand, supply, and local market conditions, the gold rates vary from city to city. Price of gold in a country is determined by the demand & supply, global market conditions and currency fluctuations. Rajasthan, the largest state in India, has a high demand for gold. If you are someone interested in investing in gold and a resident of Rajasthan, you can find everything you need to know here.

Take a look at the gold price today in Rajasthan:

• 24 Carat pure gold: 10 grams for Rs. 48,180

• 22 Carat standard gold: 10 grams for Rs. 45,890

The 24 Carat gold price in Rajasthan today is:

• Pure Gold (1 gram gold price in Rajasthan) is Rs. 4,818

• Pure Gold (8 grams gold price today in Rajasthan) is Rs. 38,544

The 22 Carat gold price in Rajasthan today is:

• Standard gold (1 gram gold price in Rajasthan) is Rs. 4,589

• Standard gold (8 grams gold rate today Rajasthan) is Rs. 36,712

Here’s a comparative table for understanding fluctuations in the gold rates before making investments in gold:

Introduced in 2017, GST or Goods and Services Tax provided for a streamlined and effective tax regime by subsuming 17 indirect taxes. Before GST, consumers had to pay a range of indirect taxes on goods and commodities, such as Value Added Tax (VAT), sales tax, and more. GST is levied on the total value of gold purchased, including the making charges. The introduction of GST changed the existing taxation process and widened the scope of taxes. A flat rate was introduced on the purchase of gold. Take a look at the taxes on gold before and after GST.

If you are thinking of investing in gold, you can either choose to invest in the physical metal itself or choose viable alternatives like gold ETFs, gold SGBs and gold mutual funds. As a resident of Rajasthan, before making any investment in gold, you must assess your investment objectives and risk appetite. Take a look at the various investment options and their features:

Gold ETFs or Exchange-Traded-Funds (ETFs) are known as electronic gold and are traded across stock exchanges.

• Benefits of gold ETFs - Easy trading and transactions can be carried out conveniently. Unlike physical gold, you don’t have to pay for the making charges or account for its safety.

• How to invest in gold ETFs in Rajasthan- 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.

Sovereign Gold Bonds (SGBs) are government-backed securities, which comes with an investment tenure of eight years.

• Benefits of Sovereign Gold Bonds -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.

• How to purchase Sovereign Gold Bonds in Rajasthan- You can purchase SGBs from registered entities, such as banks, designated post offices and stockbrokers.

Rajasthan literally means the ‘Land of Kings’, is the largest state in India. Known for its riches and grandeur, the state of Rajasthan accounts for a good amount of gold purchases in the country. It has a population of almost 75 million people and shows a steady increase in its gold sales on a regular basis. Along with gold jewellery, gold coins and bars have a strong consumer base in Rajasthan. Recently, people have also started investing in alternatives to physical gold.

Rajasthan is home to several festivals, and gold is considered an auspicious element during these times. This indicates a consistent market for gold in Rajasthan.

Here’s a checklist of essentials to look into before buying gold;

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

• Always get a physical receipt: To prove the authenticity of your transaction, a physical receipt is essential. It is mandatory to have the receipt when it comes to selling your gold item or making an exchange. You may need a receipt to get your gold ornament repaired, as many sellers can also insist on it.

• Weigh your gold: Ensure that the gold item is weighed correctly and 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.

• Understand the purity measures of gold: Before buying gold in Rajasthan, 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:

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 Rajasthan gold price today:

• 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.

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

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

• 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 Rajasthan.

• 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.

To buy gold, you can visit different places depending upon the type of gold item you want to buy. Here’s a look: