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Today Gold Rate in Bhopal

In India, many individuals consider gold as one of the best investment options, given that it is a good hedge against inflation. The yellow metal can not only be held in the form of jewellery, but also as gold bars, gold coins, gold ETFs and sovereign gold bonds. When comparing the rates, one can find a difference in the prices across cities on account of local market factors such as its supply and demand, state taxes and transportation charges (of physical gold). This article focuses on how lucrative gold investments are in the city of Bhopal and its rates over the recent months.

Factors Affecting Gold Rate in Bhopal

A number of factors have an impact on the gold rate in Bhopal. Here is a look at a few:

  • Gold and interest rates: Many industry experts have said that, under normal circumstances, the relationship between gold and interest rates is negative. Rising yield shows an expectation of strong economy, and since strong economy gives rise to inflation, many opt for the yellow metal to use it as a hedge against inflation. Also, when rates move up, a lot of people move to fixed-income investments that yield a fixed return. So, demand for gold takes a back seat with rates remaining flat.
  • Inflation: The value of currency falls during times of rise in inflation. This prompts more people to hold money in the form of gold. Thus, in times when inflation remains high over longer terms, gold serves as a hedge against inflationary conditions. This leads to an increase in gold rates in the inflationary period.
  • Rupee-dollar equation: This equation has a role to play in Indian gold prices. However, it has no effect on global gold rates. The yellow metal is mostly imported, and hence, when the rupee weakens against the dollar, the rates will likely appreciate (in rupee terms). A depreciating rupee may hurt the demand of gold in the nation.

Importance of Checking Gold Rate in Bhopal

One should always stay updated about the rate of gold, as even a small variation can result in a major loss. The gold rates of today are very high when compared with that of ten years ago. Before buying gold, individuals are advised to compare the different rates charged by jewellers in the city. The bigger, more prominent ones tend to charge more in making charges as compared to the smaller ones.

How to Invest in Gold in Bhopal?

To buy gold ornaments, one can simply head to a jewellery store and make the purchase. In case of gold ETFs, the individual can ask his or her broker to buy after opening a demat account and a trading account. Government-issued sovereign gold bonds are also listed, and people who seek to buy them can do so in the same way that listed shares are bought.

Things to Remember Before Purchasing Gold in Bhopal

A few factors to keep in mind before buying physical gold are as follows:

  • Level of purity: The purity of the yellow metal is measured and denoted in karats. The purest form of gold available is 24 Karat (KT). This, however, is too soft for making ornaments. Most of the gold jewellery sold are 14, 18 or 22 karats. The purity level has an impact on the rate of gold.
  • Making charges: This is essentially the labour cost involved. Some jewellers fix it as a flat making charge per gram (of gold), while others at a percentage of the gold value. It is vital to note and compare the making charges before buying gold jewellery.
  • Hallmarking: The purpose of hallmarking is to serve as evidence about the purity of gold. One must look for BIS hallmark while buying physical gold. The Bureau of Indian Standards has been established by the government to make sure that people do not get cheated when they buy gold.

4 Months Gold Rate in Bhopal

Trend of Gold Rate in Bhopal for September 2019

TypePeriodRs./10gm
Lowest gold price on21 Sep 2019Rs. 38,340
Highest gold price on06 Sep 2019Rs. 40,184
Gold price on01 Sep 2019Rs. 39,549

Source: GoldPriceIndia

Trend of Gold Rate in Bhopal for August 2019

TypePeriodRs./10gm
Lowest gold price on02 Aug 2019Rs. 35,502
Highest gold price on27 Aug 2019Rs. 40,175
Gold price on01 Aug 2019Rs. 35,808
Gold price on31 Aug 2019Rs. 39,593

Source: GoldPriceIndia

Trend of Gold Rate in Guntur for July 2019

TypePeriodRs./10gm
Lowest gold price on04 Jul 2019Rs. 34,350
Highest gold price on26 Jul 2019Rs. 36,147
Gold price on01 Jul 2019Rs. 34,894
Gold price on31 Jul 2019Rs. 35,790

Source: GoldPriceIndia

Trend of Gold Rate in Guntur for June 2019

TypePeriodRs./10gm
Lowest gold price on29 Jun 2019Rs. 34,870
Highest gold price on28 Jun 2019Rs. 35,404
Gold price on01 Jun 2019Rs. 32,609
Gold price on30 Jun 2019Rs. 34,890

Source: GoldPriceIndia

How GST Impacts Gold Rate in Bhopal

Prior to the GST being implemented, the tax on gold was fixed at 1% service tax and 1% VAT. The GST now levied on gold is 3%. Additionally, there is a tax of 5% on making charge.

What is BIS Hallmarked Gold?

Hallmarking helps buyers identify if the gold jewellery that is sold to them is real or fake. Gold ornaments that have been hallmarked by the Bureau of Indian Standards will contain the BIS logo. The hallmark serves as proof that the gold has been verified at the bureau’s laboratories. However, it is essential to note that BIS hallmarking is not compulsory. Some jewellers offer their in-house hallmarking of jewellery. Prior to buying gold ornaments, buyers are advised to check with the jewellers if they offer BIS hallmarked ornaments.

How to Buy Gold after Checking Gold Price in Guntur?

The different ways by which a user can buy gold include:

  • Purchasing gold jewellery
  • Investing in gold bars and coins
  • Buying Gold ETFs (after opening demat and trading accounts)
  • Availing Sovereign Gold Bonds
  • Investing in companies that are into mining, extracting and marketing of gold

Conclusion

On the basis of the points stated above, it can be concluded that investing in gold is worthwhile. It acts as a good hedge against inflation, and over a period of time, its returns shall be in line with the rate of inflation. Another reason why gold investments are increasingly preferred is because it is negatively correlated to equity investments. Gold therefore is an essential component of a diversified (investment) portfolio.

FAQ's On Gold Rate in Bhopal

What is per gram Gold Rate in Bhopal?

According to the GoldPriceIndia website, the price for 24 karat gold is Rs. 3,876 per 1 gram.

What is 10 gram Gold Rate in Bhopal?

According to the GoldPriceIndia website, the price for 24 karat gold is Rs. 38,761 per 10 grams.

What is 100 grams Gold Rate in Bhopal?

According to the GoldPriceIndia website, the price for 24 karat gold is Rs. 3,87,610 per 100 grams.

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