Gold Rate in Vijayawada

If you live in Vijayawada and want to buy gold, there is a lot that you should know before going to make the purchase. The gold rate in Vijayawada, like anywhere else, changes on a daily basis. The price of gold in Vijayawada depends on several factors. So, you should be aware of these factors that determine the gold rate in Vijayawada before you go on to purchase the gold ornaments or invest in gold.

Vijayawada, the second-largest city in Andhra Pradesh, is a prime destination for people to purchase and sell gold in the state. The city offers a wide range of gold jewellery designs and options from different vendors serving customers' various preferences.

Check out the gold rate in Vijayawada today 

Investment in gold can be a short-term and also a long-term  investment. Also, if you want to invest in gold, here are the several options to choose from:

• Physical Gold

• ETFs of gold

• Derivative gold contract

So before you choose your gold investment options, here is a gold rate in Vijayawada during a ten-day period which will help you in understanding the fluctuations in its price.

The gold rate calculator can be used to calculate the value of gold. All you have to do is enter the weight of the gold and select the unit of measurement, purity, location, etc. The calculator then gives out an estimate of the gold's worth based on the current market price of gold.

Gold rates in Vijayawada might differ from the other cities in the country due to transportation costs, taxes, octroi charges, etc. The taxes and transportation costs are calculated as per the conveyance facility and geographical location. If you are planning to make investments in gold, you should check out the current gold rates in Vijayawada. Apart from the current gold rates in Vijayawada, there are certain additional making charges attached to the gold jewellery levied by the jeweller.

• Ensure Purity of Gold - 24-carat gold is the purest gold but is not well-suited for making jewellery. While 22-carat or 18-carat gold is typically used for making jewellery, it costs less than 24 carat. So you should be sure about the purity of gold that you purchase. 

• Purchase Certified Gold - It is crucial you check the gold you purchase is certified. Reputed sellers typically provide a KDM or hallmark certification as an assurance of the purity or authenticity of the gold.

• Analyse Making Charges - Most jewellers charge customers extra for the designing and creation process that goes into making gold jewellery. Depending on the complexity of the design and purity of gold, the charges will vary. These charges also vary depending on the jeweller.

• Know the Weight of Gold - The weight is a notable component as this is what determines the price of gold. Ensure that you have compared the prices of gold jewellery in your region from different vendors, to avoid dealing with overcharging issues.

The Goods and Services Tax, also known as GST, applies to the purchase of any good or service in India. The GST on gold is applicable on the sale product and also on the making service. A GST of 3% is charged on purchase of gold. In addition to this, a making charge of 5% and a 10% import duty is applied to the purchase of gold. In comparison to older gold rates, these charges bring up gold rates slightly higher. Especially for investors keen on jewellery, the GST on gold rates in Vijayawada may be burdensome.

If we consider the current gold price in Vijayawada to be a hypothetical ₹45,000, this is what the impact of GST on Gold would look like.