Gold Rate in Srikakulam Today

Gold is a trusted investment that not only preserves wealth but also provides protection against economic fluctuations. Staying updated on the current gold rates in Srikakulam is essential for making the right choice, whether you are buying jewellery or investing in other gold assets. Knowledge of these rates helps you plan effectively and maximise value.

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

Gram	22 Carat Gold Rate Today	22 Carat Gold Rate Yesterday	Daily Price Change
1 Gram	₹8,230	₹8,230	₹0
10 Gram	₹82,300	₹82,300	₹0
100 Gram	₹823,000	₹823,000	₹0

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

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

Gold has remained a preferred investment avenue for its enduring value. Here are the popular ways to invest in gold in Srikakulam:

Digital Gold

Digital gold provides a convenient and secure way to invest. With investments starting from as low as ₹1, this option allows you to own gold stored in secure, insured vaults without worrying about storage.

Physical Gold

Purchasing physical gold in the form of gold jewellery, gold coins, or bars is a traditional and reliable option. Ensure you buy from reputable jewellers in Srikakulam to guarantee authenticity and high-quality gold.

Sovereign Gold Bonds

Issued by the Reserve Bank of India (RBI), Sovereign Gold Bonds are a secure and interest-earning option. They are denominated in grams of gold and provide dual benefits of capital appreciation and periodic returns.

Gold ETFs

Gold ETFs are traded on stock exchanges and represent a specific quantity of gold. Backed by physical reserves, ETFs are an efficient way to invest in gold without holding it physically.

Gold Mutual Funds

Gold mutual fund managers generally invest the pooled money in gold-linked assets like mining companies or physical gold. These funds are accessible to all investors with a minimum starting amount, making them a flexible investment choice.

Before making a gold purchase, keep the following points in mind to ensure value for money:

Current Gold Rates

Gold rates fluctuate based on global and domestic market trends. Monitor the latest prices in Srikakulam to avoid overpaying.

Purity Standards

Gold is available in multiple purity levels, such as 18 karats, 22 karats, and 24 karats. Verify the karat level to ensure it meets your requirements.

Reliable Jewellers

Choose well-established jewellers in Srikakulam for your gold purchase. Reputed sellers offer certified gold with transparency in pricing.

Hallmark Certification

Look for the BIS hallmark on gold items, which guarantees purity and authenticity. It includes essential details like karat level and a unique identification number.

Additional Costs

Understand the impact of making charges, taxes, and other costs that can increase the overall price of gold items.

Several factors influence the gold rates in Srikakulam, including:

Exchange Rates

The Indian Rupee's value against the US Dollar directly impacts gold prices. A weaker rupee often leads to higher gold rates.

Global Market Conditions

Events such as geopolitical conflicts, economic instability, and policy changes significantly influence gold prices. In uncertain times, gold prices generally increase as it is considered a safe asset.

Current Demand

Festivals and wedding seasons in India often see higher gold demand, driving prices up. Conversely, during off-seasons, prices may drop due to reduced demand.

Government Regulations

Changes in import duties, restrictions, or other policies can directly impact gold prices in Srikakulam.

Tax Policies

Taxes like GST increase the final cost of gold items. Be aware of these costs when making a purchase.

Hallmark Certification

Check for the BIS hallmark, which certifies gold purity. This includes the BIS logo, the karat level, and a unique Hallmark Unique Identification (HUID) number.

Density Test

Gold has a specific density of 19.3 g/cm³. Comparing an item's weight and volume with this standard helps identify impurities.

Magnet Test

Gold is not magnetic. If the item is attracted to a magnet, it may contain other metals, indicating lower purity.

Nitric Acid Test

Apply nitric acid to a scratch on the gold item. Pure gold remains unaffected, while impurities may react or change colour. Conduct this test under professional supervision for accuracy.

Visual Inspection

Look for tarnishing or uneven colour on the gold item. Pure gold does not tarnish over time, so these signs could indicate impurities.

X-Ray Fluorescence Testing

This advanced method uses X-rays to determine gold composition accurately. Many jewellers in Srikakulam offer this non-invasive service.

The Goods and Services Tax plays a significant role in determining gold prices. A 3% GST is applied to the value of gold, while an additional 5% GST is charged on jewellery-making charges. These taxes increase the overall cost, so consider them when budgeting for your gold purchase.

Gold is frequently used as collateral for loans. The loan amount you are eligible for depends on the prevailing gold rate. When gold prices rise, the loan value increases proportionally. Financial marketplaces like Bajaj Markets offer easy comparisons of various gold loans options online.