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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.

Gold Price Per Gram in Vijayawada

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 

Gram

24 Carat Gold Rate Today

24 Carat Gold Rate Yesterday

Daily Price Change

1 Gram

₹ 6,485

₹ 6,409

₹ 76

10 Gram

₹ 64,850

₹ 64,090

₹ 760

100 Gram

₹ 6,48,500

₹ 6,40,900

₹ 7,600

22 & 24 Carat Gold Rate in Vijayawada for the Last 10 Days

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.

Date

STANDARD GOLD 22K

PURE GOLD 24K

1 Gram

10 Gram

1 Gram

10 Gram

Mar 05, 2024

₹ 5,945.00

₹ 59,450.00

₹ 6,485.00

₹ 64,850.00

Mar 04, 2024

₹ 5,875.00

₹ 58,750.00

₹ 6,409.00

₹ 64,090.00

Mar 03, 2024

₹ 5,875.00

₹ 58,750.00

₹ 6,409.00

₹ 64,090.00

Mar 02, 2024

₹ 5,875.00

₹ 58,750.00

₹ 6,409.00

₹ 64,090.00

Mar 01, 2024

₹ 5,790.00

₹ 57,900.00

₹ 6,316.00

₹ 63,160.00

Feb 29, 2024

₹ 5,759.00

₹ 57,590.00

₹ 6,283.00

₹ 62,830.00

Feb 28, 2024

₹ 5,759.00

₹ 57,590.00

₹ 6,283.00

₹ 62,830.00

Feb 27, 2024

₹ 5,760.00

₹ 57,600.00

₹ 6,284.00

₹ 62,840.00

Feb 26, 2024

₹ 5,760.00

₹ 57,600.00

₹ 6,284.00

₹ 62,840.00

Feb 25, 2024

₹ 5,770.00

₹ 57,700.00

₹ 6,295.00

₹ 62,950.00

Gold Rate Calculator

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 Investment in Vijayawada

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.

Points to Remember When Buying Gold in Vijayawada

  • 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.

Factors that Affect Gold Prices in Vijayawada

Several factors affect the movement of gold prices. For any investor or buyer, knowing these factors is beneficial as it can help them buy or sell gold at an opportune time. Here are the factors that affect gold prices in Vijayawada:

  • International market movements, import duties, excise duty, and exchange rate conversion are some of the factors that affect the rate of gold in India.

  • The value of the US Dollar has an inverse relationship with the rate of gold. The weaker the USD gets, the stronger the gold rates in India. Currently, gold rates are on the decline in India and, therefore, in Vijayawada.

  • Political events and tensions can also affect the rates of gold in Vijayawada as people tend to buy gold during times of perceived crisis.

 

The most ideal way to invest in gold is to buy it when there is a considerable drop in price. Currently, there is no downside in gold rates. Keep tracking gold prices in the market every day to get it when it is within the right window of purchase. You can check live prices online.

Read More

How is the Purity of Gold Evaluated in Vijayawada?

  • Gold purity is measured on a carat scale. This scale goes from 9k to 24k, 24k being the purest form.

  • Gold is alloyed with other metals because it is too soft in its purest form for regular use in the form of jewellery, and also it changes colour when alloyed with other metals. Hence, jewellers alloy it with other metals to make exquisite jewellery.

  • Prices and purity differ from one seller to another, not just in Vijayawada but in any city.

 

The government body that oversees the certification of gold purity is the Bureau of Indian Standards (BIS), and the certification process is known as hallmarking.

 

Here are the major components of BIS hallmarking which indicate the purity of gold.

  • Jeweller’s identification mark

  • BIS Mark

  • Purity in Karat

  • Hallmarking Centre’s identification number or mark

 

22k, 14k, and 18k gold are typically used for jewellery-making. Gold purity is often tested with the help of a magnet. Impure gold has a certain amount of metal in it, which will get attracted by the magnet. Nowadays, jewellers can also test purity with carat-checking machines which give authentic results.

Read More

GST Impact on Gold Rate in Vijayawada

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.

Tax

Before GST in ₹

After GST in ₹

Price of 10 grams

45,000

45,000

Customs Duty

4,500

4,500

Service Tax and VAT

990

0

GST on Gold

0

1,485

Total gold value

50,490

50,895

Making charge

3,000

3,000

GST on Making charge

0

150

Final Price of gold after GST

53,490

54,135

FAQs on Gold Rate in Vijayawada

How are gold rates determined in Vijayawada?

The gold rates in Vijayawada are calculated by taking transportation costs, octroi charges, etc. Apart from that, there are certain taxes levied on gold by the state and central government.

What international factors affect the gold rate in Vijayawada?

The gold rates in Vijayawada are influenced by various international factors like currency fluctuations, crude oil prices, political policies and events, etc.

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