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Today Gold Rate in Guntur

Many investors across India buy gold because it acts as a safe haven and hedge against inflation. Not only can the yellow metal be held in the form of ornaments, but also as gold coins, gold bars, gold ETFs and sovereign gold bonds. On comparing the rates of gold, one can find that it varies across different cities. This is due to local market factors like 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 Guntur and its rates over the recent months.

Factors Affecting Gold Rate in Guntur

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

  • Interest rates: The relationship between gold and interest rates, under normal circumstances, is negative, according to many industry experts. Rising yield indicates an expectation of strong economy. Since strong economy gives rise to inflation - many people shift to the yellow metal to use it as a hedge against inflation. When rates rise, investors shift to fixed-income investments that yield a fixed return. This hurts the demand for the yellow metal, with rates remaining flat.
  • Inflation: The value of currency drops when there is a rise in inflation. This encourages more investors to hold money in the form of gold. In the event that inflation remains high over longer time-periods, gold serves as a hedge against inflationary conditions. This prompts an increase in gold rates during the inflationary period.
  • Rupee-dollar equation: Gold is largely imported. Considering that the imported metal is valued in dollars and converted to a rupee value for domestic use, the rupee-dollar exchange rate becomes vital in assessing domestic gold rates. A depreciating rupee can negatively impact the demand of gold in the country.

Importance of Checking Gold Rate in Guntur

It is important for one to always stay aware and updated about the rates of gold, as even a minute can give rise to a major loss. The gold rates of today are very high when compared to that of a decade ago. Individuals who are looking to buy gold are advised to first compare the different rates charged by jewellers in the city. The top jewellers are likely to charge higher in making charges.

How to Invest in Gold in Guntur?

In order to purchase gold ornaments, an individual can simply visit a jewellery shop and make the purchase. For gold ETFs, the entity can ask his or her broker to buy after opening a demat account and a trading account. Sovereign gold bonds - issued by the government - are also listed, and those who wish to buy them can do so in the same way listed shares are bought.

Things to Remember Before Purchasing Gold in Guntur

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

  • Level of purity: Before buying gold, the first thing that one should check is its purity. Karat is the term used to denote the purity of gold. Most of the gold jewellery sold are 14, 18 or 22 karats. The purity of the gold has an impact on the rate of gold.

  • Making charges: The labour cost involved is referred to as making charges. This can be fixed as a flat making charge per gram (of gold) or a percentage of the gold value. It is necessary to note and compare the making charges prior to buying gold ornaments.

  • Hallmarking: The intent of hallmarking is to serve as proof of the gold’s purity. It is recommended to look for BIS hallmark at the time of buying physical ornaments. The Bureau of Indian Standards has been founded for the purpose of making sure that buyers do not get cheated when they buy gold.

4 Months Gold Rate in Guntur

Trend of Gold Rate in Guntur for September 2019

TypePeriodRs./10gm
Lowest gold price on20 Sep 2019Rs. 37,591
Highest gold price on05 Sep 2019Rs. 39,602
Gold price on01 Sep 2019Rs. 38,775

Source: GoldPriceIndia

Trend of Gold Rate in Guntur for August 2019

TypePeriodRs./10gm
Lowest gold price on01 Aug 2019Rs. 34,823
Highest gold price on29 Aug 2019Rs. 39,195
Gold price on01 Aug 2019Rs. 34,887
Gold price on31 Aug 2019Rs. 38,807

Source: GoldPriceIndia

Trend of Gold Rate in Guntur for July 2019

TypePeriodRs./10gm
Lowest gold price on02 Jul 2019Rs. 33,757
Highest gold price on19 Jul 2019Rs. 35,443
Gold price on01 Jul 2019Rs. 33,759
Gold price on31 Jul 2019Rs. 35,111

Source: GoldPriceIndia

Trend of Gold Rate in Guntur for June 2019

TypePeriodRs./10gm
Lowest gold price on30 Jun 2019Rs. 34,160
Highest gold price on29 Jun 2019Rs. 34,358
Gold price on01 Jun 2019Rs. 32,211
Gold price on30 Jun 2019Rs. 34,180

Source: GoldPriceIndia

How GST Impacts Gold Rate in Guntur

The GST levied on gold is 3%. Additionally, there is a tax of 5% on making charges of gold ornaments. Before the new tax regime was implemented, the tax on gold was 1% service tax and 1% VAT.

What is BIS Hallmarked Gold?

A hallmark in a gold ornament is a guarantee of the yellow metal’s purity. Those ornaments hallmarked by the Bureau of Indian Standards will have the BIS logo. This indicates that the gold has been verified at the National Standard Body’s laboratories. It is however, vital to note that BIS hallmarking is not compulsory. Some jewellers in the city may offer their in-house hallmarking of jewellery. Prior to buying gold ornaments, buyers are advised to check with the jeweller 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

Gold is one of the most preferred investments in India. Its strong suits include - high liquidity and inflation-beating capacity. Gold is also resilient during stock market crashes, making the two i.e. gold and equities, negatively correlated. It can therefore be said that the yellow metal is an essential component of a diversified (investment) portfolio.

FAQ's On Gold Rate in Guntur

What is per gram Gold Rate in Guntur?

According to the GoldPriceIndia website, the price for 24 karat gold is Rs. 3,781 per 1 gram.

What is 10 gram Gold Rate in Guntur?

According to the GoldPriceIndia website, the price for 24 karat gold is Rs. 37,807 per 10 grams.

What is 100 grams Gold Rate in Guntur?

According to the GoldPriceIndia website, the price for 24 karat gold is Rs. 3,78,070 per 100 grams.

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