Gold Rate in Roorkee Today

The gold rate in Roorkee fluctuates daily due to several factors, such as global market trends, currency exchange rates, and local demand. Gold is purchased in Roorkee for jewellery, investment, and cultural purposes.

 

Today’s gold rate in Roorkee depends on the purity of the gold. It is categorised as 24 Karat gold, which is 99.99% pure and considered purer than 22 Karat gold, which is 91.60% pure and commonly used for making jewellery. Several factors also impact the price of gold, such as import duty, inflation, and economic conditions.

 

Checking the gold rate today in Roorkee before making a purchase can help you make an informed decision. Gold is often considered a valuable asset, and many people invest in it for long-term financial stability.

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

Gram	22 Carat Gold Rate Today	22 Carat Gold Rate Yesterday	Daily Price Change
1 Gram	₹9,040	₹9,040	₹0
10 Gram	₹90,400	₹90,400	₹0
100 Gram	₹904,000	₹904,000	₹0

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

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

In Roorkee, you have the option to invest in gold in several different ways, depending on your financial goals. Here are some of the common options:

Physical Gold

People can choose to buy gold in the form of jewellery, bars, or even coins. Jewellery is ideal for personal usage, whereas bars are preferred for investment purposes. However, there are additional costs to consider, such as making charges and storage safety.

Sovereign Gold Bonds (SGB)

SGBs are issued by the Government of India and offer interest income along with the price appreciation of gold. These are a secure form of investment and a tax-efficient method of investing in gold.

Gold Exchange-traded Funds (ETFs)

You can choose to invest in gold without requiring physical storage. Gold ETFs are traded on the stock exchange and reflect the current gold price in Roorkee. This offers you liquidity and eliminates the risks related to theft or purity concerns.

Digital Gold

You can choose to buy gold online via platforms that store gold in secure and insured vaults. This allows you to buy and sell gold easily without having to handle any physical gold.

 

Also Read: Tips for Buying Gold Jewellery

Gold is often bought for jewellery and investment purposes. However, before purchasing gold in Roorkee, it is important to check several factors to ensure quality and fair pricing.

Gold Purity

Gold comes in different levels of purity, with 24 Karat (99.99% pure) mostly used for coins and bars, while 22 Karat (91.60% pure) is used for jewellery making. Check the BIS (Bureau of Indian Standards) hallmark on gold jewellery before making any purchase.

Gold Price in Roorkee

Gold rates can fluctuate on a day-to-day basis due to current market trends, currency exchange rates, and global demand. Check the current gold rate in Roorkee before any purchase to avoid overpaying.

Making Charges

The price of jewellery includes making charges, and these can differ based on the design and the jeweller. Simpler designs can lower the making charges, while intricate designs may cost more. If you are buying gold for investment purposes, then gold coins and bars may incur lower making charges in comparison to jewellery.

Reliable Sellers

Always buy gold from either a BIS-certified jeweller or a reputed online platform. This ensures that the quality is up to standard and aligned with current fair pricing. Also, ensure that you always ask for a bill to maintain a record of your purchase.

Storage and Safety

Buying physical gold requires you to pay for secure storage or vaults. You can consider opting for a bank vault or locker to ensure the safety of your assets. If you want to avoid risks associated with storing your gold, then you can opt for digital gold or gold ETFs as investment options.

Gold prices in Roorkee can fluctuate daily. This can be due to factors associated with various economic and market conditions. It is important that you are aware of the factors that affect gold prices:

Global Gold Prices

Gold is traded internationally, and the price of gold in India is directly linked to the global market. Any changes that occur in the international price of gold are directly reflected in the gold rate in Roorkee.

Currency Exchange Rates

India is known to import most of its gold, and the exchange rate between the Indian Rupee and the US Dollar plays an important role. Gold prices could increase if the rupee weakens against the dollar.

Inflation and Economic Trends

Gold is often used as a hedge against inflation. If there is any economic uncertainty or a rise in inflation, then the demand for gold can rise, leading to higher prices.

Government Policies and Taxes

Duties and taxes, such as import duty and Goods and Services Tax (GST), can have a significant impact on the cost of gold. An increase in these charges can raise the overall cost for buyers.

Demand and Supply

Gold in India is used for ornaments, and prices tend to rise during festivals, weddings, and periods of high investment demand. When the demand for gold is high, but the supply is limited, prices can go up.

Gold purity is a key factor that determines its value. In Roorkee, various methods are used to assess gold purity to ensure buyers receive genuine gold. Here are the methods:

Karat System

The purity of gold is represented in Karats (K), and 24K gold is 99.99% pure, while 22K gold contains 91.60% gold mixed with other alloys. Lower purities, such as 18K and 14K, contain a smaller percentage of gold.

Hallmark Certification

The BIS certified gold with a hallmark that stands as a symbol of purity. A BIS hallmark stamp should be present on the jewellery to indicate that it meets the gold purity standards.

Acid and Electronic Testing

Most jewellers use an acid or electronic test to check the purity of gold. This can help identify the purity without damaging the gold.

XRF Machine Testing

An X-ray Fluorescence (XRF) machine can help obtain an accurate reading of the purity of the gold without damaging it.

The final price of gold that you purchase includes the Goods and Services Tax (GST). This applies to any gold-related purchase, which makes it important to understand its implications and how it impacts the cost:

GST on Gold Purchase

A 3% GST is chargeable on the price of gold in Roorkee, and this is applicable when buying jewellery, coins, or bars. This increases the overall cost of gold in comparison to pre-GST rates.

GST on Making Charges

If you are looking to buy jewellery, then a 5% GST is applicable on the making charges. The making charges differ based on the design and jeweller, and GST can have a significant impact on the final price.

Impact on Gold Investment

For investors purchasing physical gold, GST adds to the cost of the purchase. However, digital gold, Gold ETFs, and Sovereign Gold Bonds do not attract GST, making them cost-effective investment options.

You can pledge your gold as collateral with a lender and secure a gold loan. The amount of money that you receive depends on the value of the gold, and this can fluctuate based on the current market rate.

Higher Gold Rates Equal Higher Loan Amounts

When the price of gold rises, the value of the gold that has been pledged increases as well. This allows the borrower to get a higher loan amount for the same amount of gold.

Lower Gold Rate Impacts Eligibility

In case the price of gold falls, the lender may offer a lower loan amount. This could mean that the borrower may need to pledge additional gold to meet their loan requirements.

Loan-to-Value Ratio

As per the RBI's regulations, a lender may offer up to 75% of the gold’s value as a loan. This means that the gold rate fluctuations can influence how much a borrower can receive.

Risk of Defaulting

If the price of gold declines significantly, the borrower may need to repay more to avoid losing the gold that they have pledged. Some lenders could even ask for additional securities in some cases to avoid the risk of defaulting.