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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!

Gold Rate 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

Today 24 Carat Gold Price Per Gram in Tripura

The 24 Carat gold price in Tripura today is:

  • Pure Gold (1 gram) is ₹ 7,156

  • Pure Gold (8 grams) is ₹ 57,248

Today 22 Carat Gold Price Per Gram in Tripura

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:

 

Today gold rate Tripura

Yesterday Tripura gold price

Rate change

24 Carat gold (1 gram)

₹ 7,156

₹ 7,156

 ₹ 0

24 Carat gold (8 grams)

₹ 57,248

₹ 57,248

 ₹ 0

22 Carat (1 gram)

₹ 6,815

₹ 6,815

 ₹ 0

22 Carat (8 grams)

₹ 54,520

₹ 54,520

 ₹ 0

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

GST on Gold in Tripura

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: 

 

Pre-GST in Rs.

After GST in Rs.

Price of 10 Gram gold

45,000

45,000

Service tax @ 1%

450

--

VAT @1%

450

--

GST on gold @ 3%

--

1,350

Making charges @ 10%

4,500

4,500

GST on making charges @ 5%

--

225

Final price of gold

50,400

51,075

Gold and its Investments in Tripura

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.

How to Invest in Gold ETFs in Tripura

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.

How to Invest in Sovereign Gold Bonds in Tripura

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.

How to Check the Purity of Gold in Tripura?

Purchasing gold can seem easy. But, unless you have the requisite information about how to identify pure gold, you might end up buying a fake gold item. How to identify a pure gold item in Tripura? Here’s a look at a few easy tests:

  • Check for hallmark: To protect consumers from adulterated gold and to ensure that gold manufacturers maintain the legal standards of purity, the Bureau of Indian Standards (BIS) has made hallmarking compulsory. While buying gold, you just need to look at the four components of BIS hallmarked gold jewellery. These comprise:

  1. BIS logo or mark.

  2. Hallmarking/assaying centre’s mark/number.

  3. Purity in Carats and Fineness.

  4. Jeweller’s distinct logo/mark.

  • Use a home testing kit: You can purchase a home testing kit having a touchstone and different concentrations of nitric acid bottles. You have to rub your gold against the touchstone and then apply a few drops of nitric acid. Based on the colour change, you can identify the purity of your gold item. Make sure you read the instructions carefully and follow the correct procedure.

  • Use a magnet: You can use a strong magnet to test the purity of your gold item. This test is based on the premise that gold will not be attracted to a magnet because of its physical properties. Conversely, a fake gold, comprising of metallic impurities, will be attracted to a magnet.

  • Use a carat testing machine: You can use a professional carat testing machine to instantly test your gold item’s purity. Just take the gold item to an authorised jeweller, having the machine. Within minutes, the device will display the carat purity level.

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What is the Demand for Gold in Tripura?

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.

How is the Gold Rate in Tripura Determined?

Here’s a look at how the Tripura gold rate is determined:

  • Multiple factors determine the gold rate in Tripura: No one factor is responsible for determining the gold rate in Tripura. As there is no single body to regulate gold prices, a wide range of complex factors informally determine the rate.
  • Typically demand and supply factors decide the Tripura gold rate: The basic economic variables of demand and supply determine the gold rate in this Northeastern state. With an increase in demand, the gold rates increase, and the gold rates fall with an increase in supply.
  • Consumer behaviour also plays a key role: Consumer behaviour largely shapes the gold price today in Tripura. There is a massive demand for gold during festivals and the wedding season, increasing gold rates.
  • International spot and futures price of gold also decides the gold rate: The gold price in Tripura is also contingent upon the international prices of gold. While the spot price of gold is fixed daily at the OTC market of the London Bullion Market Association, the futures price of gold is sourced at international commodity exchanges, such as the MCX and COMEX.
  • Import duty also shapes the Tripura gold rate: A hike in import duty can result in an increased gold price in Tripura. Here, you must keep in mind that India is not self-sufficient to fulfil its high gold demand. So the majority of gold is imported from foreign countries.
  • Tripura gold price also depends on benchmark rates: The gold rate today in Tripura is also dependent on the benchmark rates fixed by the Indian Bullion and Jewellers Association (IBJA). Remember that IBJA’s daily benchmark rate is used by retailers across the country, and in Tripura, to fix the retail gold rates
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What is the Mandatory Checklist for Buying Gold in Tripura?

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.

Things to Consider Before Buying Gold in Tripura

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.

What are the Factors that Influence Gold Rate in Tripura?

Here’s a look at some of the important factors that influence the gold price in Tripura:

  • Interest rate: An increase in interest rate can prompt people to hold on to their cash reserves instead of investing in gold. A resultant decrease in demand can cause the Tripura gold rate to fall.
  • Currency exchange rate fluctuations: A weak Indian Rupee against the US Dollar can result in an increase in the gold price in Tripura.
  • Inflation: During inflationary movements, people can hedge themselves from the market risks by purchasing more gold. This can cause the gold rate in Tripura to increase.
  • Global issues: The yellow metal being a crisis commodity, people tend to purchase more gold during global crises. The increase in demand causes the gold rates to increase.
  • Local issues: Local issues such as a new tax or increase in fuel or transportation costs can cause the Tripura gold price to increase.
  • Government gold reserves: If the government decides to increase its reserves of gold, the resultant increase in demand can cause the gold price today in Tripura to rise.
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What are the Different Places where One can Buy Gold in Tripura?

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.

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