Gold Rate in Tripura

Gold is among the most coveted metals known to humankind. For centuries it has been inextricably entwined with religion, mythology and culture. In India, people purchase gold as part of celebrations and festivals. But there is another aspect to gold as well. It is among the safest and most reliable investment avenues. The yellow metal is highly liquid, provides secure returns and is inflation-proof. Though its price may fluctuate, gold rates always rebound. As a resident of Tripura, you can invest not only in physical gold but also in gold-related investments. Read on to know everything about making gold investments in Tripura!

The price of gold fluctuates daily. Here’s a look at the gold price today in Tripura.

• 24 Carat pure gold: 10 grams for ₹ 71,560

• 22 Carat standard gold: 10 grams for ₹ 68,150

The 24 Carat gold price in Tripura today is:

• Pure Gold (1 gram) is ₹ 7,156

• Pure Gold (8 grams) is ₹ 57,248

The today gold rate in Tripura for 22 Carat is:

• Standard gold (1 gram) is ₹ 6,815

• Standard gold (8 grams) is ₹ 54,520

To know the price fluctuations of the gold rate in Tripura, refer to the chart given below:

Here’s a look at the 18 Carat gold rate in Tripura today:

• The today gold rate in Tripura per Gram for 18 Carat gold is ₹ 5,576

• The today gold rate in Tripura per 10 Grams for 18 Carat gold is ₹ 55,760

The Goods and Service Tax (GST) was introduced in 2017 and had far-reaching effects on the Indian economy. Instead of a range of indirect taxes, such as Value Added Tax (VAT), sales tax, service tax, entertainment tax, and more, the GST provided a consolidated indirect tax structure. It levied four tax slabs of 5%, 12%, 18% and 28% on various categories of goods and services. This unified tax structure impacted the gold rate in Tripura and across the country in two ways:

• GST levied a special tax rate of 3% on the value of gold: If you purchased gold in the pre-GST tax regime, you had to pay 1% VAT and 1% sales tax. After the introduction of GST, you have to pay a uniform rate of 3% on the value of gold.
• GST levied a 5% tax rate on the manufacture of gold by the jeweller: If you purchased a gold ornament in the pre-GST tax regime, no taxes were applicable on the making charges. GST, however, for the first time, taxed the manufacture or making of gold jewellery at the rate of 5%.

Let’s understand the impact of GST on gold rates with an example. Suppose today Tripura gold rate is Rs. 4,500 per gram along with the making charges of 10%. Here’s how the GST will impact the gold prices: 

In Tripura, you can make the following gold investments:

• Investment in the physical metal itself: To invest in the yellow metal itself, you can buy 24 Carats pure gold coins and bars. Gold jewellery, however, is not advisable for investment as you have to incur the making charges.

• Investment in gold mutual funds: You can diversify your portfolio by investing in gold mutual funds. These funds primarily invest in gold bullion. The value of these bonds is based on the price of actual physical gold.

• Investment in gold derivatives and bonds: You can also invest in Gold derivatives and government-backed Sovereign Gold Bonds to diversify your investment portfolio. Both these investment alternatives are discussed in the subsequent sections.

You can invest in gold derivatives or Gold Exchange-Traded-Funds (ETFs) as an alternative to investing in physical gold. For this, you need to open a Demat account and a trading account. Gold ETFs are traded across stock exchanges, just like stocks of companies. Gold ETFs can provide you with multiple benefits, like liquidity and flexibility. As compared to physical gold, you don’t have to worry about the safety of your dematerialised or paper gold. One unit of gold ETF is the same as 1 Gram of gold, and you can start trading with a minimum of one unit.

Sovereign Gold Bonds (SGBs) are government-backed bonds with the sovereign guarantee of the redemption amount and periodic interest payments. These have a maximum tenure of 8 years and a minimum lock-in period of 5 years. Gold SGBs can be a better alternative to purchasing physical gold as there is no security risk, nor do you need to worry about the purity of gold. Also, there are no making charges involved. You must, however, keep in mind that you can only purchase 4 kg of SGBs annually.

Located in Northeast India, Tripura has a robust demand for gold. As a former princely state, gold was patronised both by the kings as well as the common people. Still now, gold forms an integral part of weddings, festivities, religious rituals and celebrations. Primarily, people buy gold ornaments, though there is also a demand for gold bars and coins. With growing awareness, people have now realised that there are viable alternatives to investing in physical gold, and there is a growing demand for Gold ETFs, Sovereign Gold Bond, etc. Physical gold, however, is still the preferred mode of making gold investments.

You must keep a few things in mind before purchasing gold in Tripura. Here’s a five-point checklist:

• Purchase hallmarked gold: As hallmarking certifies the purity of gold, always buy hallmarked gold. You should keep away from gold that has been embossed with the in-house marking of a jeweller.
• Negotiate on making charges: The making charges vary between jewellers and constitute a significant part of the final price of gold. Jewellers can ask for making charges ranging from 10% to 30%. Make sure that you bargain and pay comparatively lower making charges.
• Check gold price today in Tripura: Before you buy gold, check today gold rate in Tripura from multiple websites. This will enable you to ascertain whether the price being offered is the same as the official rate.
• Check the weight of your gold item: If you are buying a studded gold ornament, make sure that the gold is weighed separately. Check the weight carefully and ensure that a proper weighing scale/balance is being used.
• Insist on an invoice: An invoice will be necessary if you decide to sell or exchange your gold item. Besides, in the event of a dispute with the jeweller, it will act as a valid proof of purchase.

Before buying gold, you must consider some other variables as well. Here’s a look:

• Research about the level of purity: You must research the purity levels before buying gold. For example, pure gold is 24 Carats but cannot be used to make ornaments because it is too soft. You can, however, buy 24 Carat gold coins and bars. You must also know that while 22 Carat gold has a purity of 91.6%, 18 Carat gold has a purity of 75%. Based on your requirements, choose the right purity level.

• Consider the buy-back terms: There can be a situation when you want to sell or exchange your gold ornament. So ask the seller about the buy-back terms. Don’t buy gold ornaments from a jeweller who offers unreasonable and arbitrary buy-back terms.

• Consider the season of purchase: Market experts suggest that you should buy gold when there is less demand. This is because the gold price can increase during festivities and the wedding season because of strong demand.

You can visit different places to buy different gold items in Tripura. Here’s a look

• For physical gold: You can visit jewellery stores to buy gold ornaments. If you prefer purchasing 24 Carat gold coins, you can visit banks and some Non-Banking Finance Companies (NBFCs). For gold bars, you can visit a bullion trader. You can make a physical visit to these places.

• For alternatives to physical gold: For buying Gold ETFs, you can reach out to a licensed stockbroking firm. You can buy SGBs from banks or SEBI-registered intermediaries. Gold mutual funds can be purchased from a fund house.