Gold Rate in Vizianagaram Today

The gold rate in Vizianagaram changes daily based on several factors like global demand, currency exchange rates, and local market trends. Gold is a preferred choice for investment and jewellery in Vizianagaram, making it important to stay updated with today’s gold rate.

 

Gold is available in different purities, such as 24 Karat and 22 Karat. The 24 Karat gold is considered the purest, but 22 Karat is commonly used for making ornaments. Prices for both are usually higher than lower.

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

Gram	22 Carat Gold Rate Today	22 Carat Gold Rate Yesterday	Daily Price Change
1 Gram	₹8,215	₹8,230	₹-15
10 Gram	₹82,150	₹82,300	₹-150
100 Gram	₹821,500	₹823,000	₹-1500

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

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

Gold has long been a favoured savings tool for people in Vizianagaram due to its cultural significance and value. Here are some popular ways to invest in gold:

Gold Jewellery

Buying gold jewellery is a common investment strategy in Vizianagaram. It allows you to own physical gold while also using it for personal or cultural purposes. However, keep in mind that making charges and wastage fees may reduce its resale value.

Gold Coins and Bars

Gold coins and bars are a great option for those who want to invest in pure gold. These are usually available in 24 Karat and can be purchased from jewellers, NBFCs, or banks. They are easy to store and have a higher resale value compared to jewellery.

Digital Gold

Digital gold allows you to invest in gold online. You can buy small amounts through mobile apps, store it securely in a digital vault, and sell it anytime. It’s convenient and avoids the risks of storing physical gold.

Sovereign Gold Bonds (SGBs)

SGBs are issued by the Government of India and are a safe way to invest in gold. They offer fixed interest p.a. on your investment and can be redeemed at the prevailing gold price upon maturity.

Gold Exchange Traded Funds (ETFs)

Gold ETFs are traded on the stock exchange and allow you to invest in gold without owning it physically. They are linked to the gold rate and offer good liquidity.

 

Investors in Vizianagaram may choose the option that aligns with their goals and storage preferences. It’s important to stay informed about today’s gold price in Vizianagaram before making any investment.

Buying gold is a significant decision, whether for investment or personal use. To ensure you get the best value for your money, here are some important factors to keep in mind:

Check Today’s Gold Rate in Vizianagaram

Gold prices vary daily based on market trends. Always check today’s gold price in Vizianagaram before making a purchase to ensure you are paying the right amount.

Know the Purity

Gold purity is measured in Karats, with 24 Karat being the purest form (99.9% gold). However, 22 Karat (91.6% gold) is commonly used for making jewellery. Check for a BIS hallmark, which certifies the purity.

Making Charges

Jewellers typically apply a crafting fee, referred to as making charges, for gold jewellery. These charges differ and influence the total cost. It’s advisable to compare them before making a purchase.

Buy from Trusted Sellers

Always purchase gold from reputed jewellers or certified dealers. This ensures you get genuine, high-quality gold. For digital or paper gold options, use trusted platforms.

Weight and Wastage

When buying jewellery, wastage charges may apply, especially for intricate designs. Confirm the weight and final cost before making a decision.

Storage and Safety

If buying physical gold, ensure you have a secure place to store it, like a locker. Alternatively, consider digital gold or Sovereign Gold Bonds to avoid storage risks.

 

Considering these factors can help you make a well-informed decision when buying gold in Vizianagaram.

Gold prices in Vizianagaram are influenced by a variety of factors that originate both locally and globally. Understanding these factors can help buyers make informed decisions before purchasing gold:

Global Market Trends

Gold is traded globally, and international demand and supply impact local prices. For instance, during global economic uncertainty, gold demand rises as it is considered a reliable asset, pushing prices higher.

Currency Exchange Rates

Gold is traded in US dollars in the international market. A weaker Indian Rupee against the US Dollar can increase the cost of importing gold, leading to higher prices in Vizianagaram.

Inflation

Gold is often seen as a hedge against inflation. When inflation rises, people tend to invest in gold to protect their wealth, which increases its demand and price.

Local Demand and Festive Seasons

In Vizianagaram, the demand for gold increases during festivals like Akshaya Tritiya and Dussehra, as well as during weddings. This seasonal demand can cause a temporary rise in gold prices.

Government Policies and Taxes

Import duties, GST, and other government regulations affect the cost of gold. For example, higher import duties make gold more expensive for buyers.

Interest Rates

When bank interest rates are low, gold becomes a more attractive investment, increasing its demand and price. Conversely, higher interest rates can lower gold demand.

 

By understanding these factors, buyers can plan their purchases better and stay updated with today’s gold rate in Vizianagaram to get the best value.

Gold purity is an important factor to check before purchasing, as it determines the quality and value of the gold. In Vizianagaram, the following methods and standards are used to evaluate gold purity:

BIS Hallmark Certification

The BIS (Bureau of Indian Standards) hallmark is a trusted certification for verifying gold purity. It ensures that the gold adheres to established purity standards. Always check for the BIS symbol and a unique identification number engraved on the gold item.

Karats (K)

Gold purity is measured in Karats, which represent the amount of pure gold in an item. For example:

• 24 Karat gold is 99.9% pure (highest purity but too soft for jewellery)

• 22 Karat gold is 91.6% pure (commonly used for ornaments)

Acid Test

In this test, a small drop of acid is applied to the gold to determine its purity based on the reaction. This method is usually performed by jewellers.

X-Ray Fluorescence (XRF) Test

This is a modern and non-destructive method to test gold purity. It uses an X-ray machine to analyse the gold content accurately and is commonly available at reputed jewellers.

Density Test

The density of pure gold is fixed at 19.3 grams per cubic centimetre. Comparing the density of a gold item can help determine its purity.

Purity Stamp

Most jewellers in Vizianagaram stamp gold items with their purity details (e.g., "22K" for 22 Karat). Ensure the stamp matches the BIS certification for accuracy.

 

By using these methods and checking today’s gold price in Vizianagaram, buyers can ensure they purchase authentic and pure gold.

The introduction of the Goods and Services Tax (GST) in India has had a direct impact on gold prices across the country, including Vizianagaram. GST has replaced earlier taxes, streamlining the tax structure but increasing the overall cost of gold purchases. Here’s how GST influences gold rates in Vizianagaram:

GST on Gold Purchase

A 3% GST is levied on the value of gold when purchasing it in Vizianagaram. This tax is added to the base gold price and increases the final amount a buyer pays.

GST on Making Charges

In addition to the gold price, a 5% GST is charged on making charges (the fee for crafting gold jewellery). This adds to the overall cost, especially for intricate designs that have higher making charges.

Impact on Gold Investment

GST has made buying physical gold slightly more expensive compared to earlier tax structures. However, investment options like Sovereign Gold Bonds or Gold ETFs are exempt from GST, offering a cost-effective alternative for investors.

Effect on Resale Value

GST paid during purchase is not recoverable when reselling gold. As a result, buyers should carefully consider the gold rate today in Vizianagaram and other costs before making a purchase.

Encouragement for Digital Gold

Due to the higher costs associated with physical gold, many buyers in Vizianagaram are opting for digital gold or bonds, which eliminate GST on storage and making charges.

 

In summary, GST has increased the overall cost of buying gold but has also encouraged buyers to explore alternative investment options. Always check the current gold rate in Vizianagaram to plan your purchase effectively.

Gold loans are a popular way to borrow money in Vizianagaram, as they allow individuals to use their gold jewellery or coins as collateral. The value of gold plays an important role in determining how much a borrower can get through a gold loan. Here's how gold rates affect gold loans in Vizianagaram:

Loan Amount Depends on Gold Rates

The loan amount offered is based on the value of the gold you pledge. When gold prices are high, borrowers in Vizianagaram may get a higher loan amount for the same quantity of gold. Conversely, if gold rates drop, the loan value reduces.

Loan-to-Value (LTV) Ratio

The Reserve Bank of India (RBI) allows lenders to offer up to 75% of the gold’s market value as a loan. For example, if the gold price today in Vizianagaram is ₹5,000 per gram, you can get up to ₹3,750 per gram as a loan.

Repayment and Interest Rates

While gold rates do not directly affect interest rates, a decline in gold prices could lead to stricter repayment terms, as lenders want to minimise their risk of loss.

Impact of Falling Gold Prices

If gold prices drop significantly after you take a loan, lenders may ask you to provide additional gold as collateral or repay part of the loan to maintain the LTV ratio. This ensures the lender’s risk remains under control.

Favourable for Borrowers During Price Rises

When gold rates rise, borrowers benefit as the same gold fetches a higher loan amount. Borrowers in Vizianagaram could use high gold prices as an opportunity to borrow more funds when needed.

 

In conclusion, fluctuations in gold rates have a direct impact on gold loans in Vizianagaram. It’s crucial to stay updated with today’s gold rate in Vizianagaram to plan gold loans wisely and avoid risks.