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.

Gold Rate in Rajasthan

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

Today 24 Carat Gold Price Per Gram in Rajasthan

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

Today 22 Carat Gold Price Per Gram in Rajasthan

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:

 

Gold price in Rajasthan today

Gold price in Rajasthan yesterday

Rate change

24 Carat gold (1 gram)

Rs. 4,818

Rs. 4,818

 Rs. 0

24 Carat gold (8 grams)

Rs. 38,544

Rs. 38,544

 Rs. 0

22 Carat (1 gram)

Rs. 4,589

Rs. 4,589

 Rs. 0

22 Carat (8 grams)

Rs. 36,712

Rs. 36,632

 Rs. 0

 GST on Gold in Rajasthan

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.

Before GST

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.

After GST

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.

 Gold and its Investments in Rajasthan

If you are thinking of investing in gold, you can either choose to invest in the physical metal itself or choose viable alternatives like digital gold, 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:

Investments in the yellow metal

Investment in digital gold

Investment in gold mutual funds

Can purchase gold coins, bars and ornaments.

Can start with a minimum investment of as low as Rs. 100 and gradually build a corpus.

One unit of gold mutual funds is the same as one gram of physical gold.

 

 

There is a need for a storage area.

The seller will keep a corresponding quantity of 24 Carat pure gold in an insured vault on your behalf.

These funds primarily invest in gold bullion.

 

Security issues need to be addressed.

Can choose to redeem your investment with the actual delivery of physical gold.

Provides liquidity

Have to pay the making charges.

The sale of digital gold is beyond the purview of SEBI.

 

Flexible and affordable.

 How to Invest in Gold ETFs in Rajasthan?

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.

How to Invest in Sovereign Gold Bonds in Rajasthan?

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.

 How to Check the Purity of Gold in Rajasthan?

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

 

1. The hallmarking test: From June 16, 2021, The Bureau of Indian Standards (BIS) has made the process of hallmarking compulsory for gold. 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 Rajasthan. This test is based on the fundamental premise that nitric acid changes its colour when applied to impure gold.

 

3. 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. 

What is the Demand for Gold in Rajasthan?

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.

How is the Gold Rate in Rajasthan Determined?

After considering a range of factors, the price of gold in Rajasthan is determined. 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 Rajasthan. Here’s a look:

 

  • Global price of gold: The global price of gold affects the price of the yellow metal in India. This is due to the fact that India is one of the largest consumers of gold. Any global price has an impact on the import prices, and this is subsequently reflected in the prices of gold at home. 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.

  • Inflation: The value of currency keeps fluctuating, and people tend to hold money in the form of gold. When inflation lasts high for a long period of time, Gold can act as a hedging tool against inflationary conditions if inflation lasts for a long time.

  • 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 Rajasthan, to finalise the retail rates for buying and selling gold.

  • Demand and supply factors: Typically, the gold price in Rajasthan, India, 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 current gold rates.

  • Government reserves: Today, gold price in Rajasthan, India, are also determined reserves of gold held by the government. When the RBI buys gold more than it sells, the price increases. It will result in a deficit of gold supply and vice versa.

What is the Mandatory Checklist for Buying Gold in Rajasthan?

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

 

Checklist To Buy Gold

Gold rate check

Before buying gold, do remember to check today's gold price in Rajasthan. While a higher gold rate can increase your purchasing cost, a drastically reduced price might indicate an adulterated or fake gold product.

 

Calculation of making charges

Making charges is 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.

 

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.

 

Hallmark verification

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

 

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.

 

 Things to Consider Before Buying Gold in Rajasthan?

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

 

  1. 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.

  2. 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.

  3. 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:

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%

 What are the Factors that Influence Gold Rate in Rajasthan?

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:

 

  1. 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.

  2. 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.

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

  4. 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.

  5. 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.

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

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

To buy paper gold

To buy Gold ETFs and Gold SGBs, you can contact a SEBI-registered intermediary or broker.

To buy gold bars

You can visit a recognised bullion trader to buy 24 Carat pure gold bars. Buying gold bars and coins from bullion traders can provide you with better buy-back terms and lower mark-up charges.

 

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.

To buy gold jewellery

You can make a physical visit to a store or place an online order. Do remember to check the purity of gold and consider the making charges.

 

FAQs

  • ✔️Is there any difference between 999 and 999.9?

    999 means that your gold is 99.90% pure and only 0.1% is other metal.

    999.9 means your gold is 99.99% pure and 0.01% is other metal.

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

    The per gram 24 Carat gold price in Rajasthan today is Rs. 4,818

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

    The today gold rate in Rajasthan per 10 gram for 22 Carat gold is Rs. 45,890.

  • ✔️hat has been the gold rate in Rajasthan for the last five days?

    Here’s a look at the gold price in Rajasthan today and for the last five days:

     

    Date

    Rate per gram for 22 Carat gold

    Rate per gram for 24 Carat gold

    December 6, 2021

    Rs. 4,589

    Rs. 4,950

    NDecember 5, 2021

    Rs. 4,589

    Rs. 4,939

    December 4, 2021

    Rs. 4,589

    Rs. 4,965

    December 3, 2021

    Rs. 4,559

    Rs. 4,939

    December 2, 2021

    Rs. 4,724

    Rs. 4,960

     

  • ✔️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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