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Gold Rate in Gurgaon

Located in the state of Haryana, Gurugram is an important city which comprises the National Capital Region. Over the years, Gurugram has developed into a huge financial and industrial hub. The economy of Gurugram has a lot of capable people with good income. Due to this reason, people in Gurugram invest in Gold to a great extent. People invest in Gold for many reasons such as investment, ritual, gifting, jewellery, wedding, security against inflation, high resale value, festivities, etc. Gold rates in Gurugram are significantly higher during special occasions such as Diwali, Dussehra, Dhanteras, Akshaya Tritiya, etc.

Factors affecting Gold Rate in Gurgaon

Since Gold is valued all over the world, factors affecting the rate of Gold in Gurugram stem internationally. Gold is traded in the international markets, which are influenced by a lot of factors, from interest rates to the movement of dollar to interest rates. The correlation of Gold and USD is just the opposite, when one of them falls, the other gains and vice versa. This is a major factor which impacts the rate of Gold in Gurugram. Additional factors which influence the rate of Gold in Gurugram include:

  • Central Bank Actions
  • Government Policies
  • Demand and Supply
  • Investment Trends
  • Currency Changes
  • International Relations
  • Import and Customs Duty
  • Macroeconomic and Political issues

How to invest in Gold in Gurgaon?

Gold is available in two forms - 22 or 24 Karat. This determines the purity of the metal. 22 Karat implies that the purity is 92%, while 24 Karat Gold comes with 99.9% purity. There are several ways to buy Gold in Gurugram, depending on the amount needed.

  • Jewellery - Gold is the most sought after for making jewellery in India. It is an asset given to children over generations during weddings.
  • Banks - Banks across India sell/buy Gold in all forms. Also, there are dedicated Banks and NBFCs which offer Gold loans.
  • Bullion - For large traders and retailers, Gold, in the form of bullion, is an excellent option. Bullion comes in the form of coins, bars and ingots. It usually weighs between 1 gram and 10 grams.
  • ETFs - Gold Exchange Traded Funds are open-funds which are traded in the stock market. You can invest any amount of money anytime (either as a lump sum or SIP).
  • Digital Gold - This is the latest type to enter the market. It allows people to invest in Gold at live market prices. A person can trade 24 Karat Gold for an amount as low as Rs. 100. People who want to cash out can either sell their digital gold online or convert them into gold coins.
  • Sovereign Gold Bonds - These are government bonds launched in the year 2015. The underlying asset is physical gold which is issued in grams. The price of these bonds is decided on the basis of simple average of the closing rate of 999 pure gold published by the India Bullion and Jewellers Association Limited.

Things to Remember Before Purchasing Gold in Gurgaon

You should look into the following factors before purchasing Gold in Gurugram:

Purity Certification - Ensure that the Gold article is BIS certified. A BIS certified gold jewellery includes BIS logo, Purity/fineness Mark, Assaying and Hallmarking Centre’s Mark, Year of Marking and Jewellers Identification Mark.

Making Charges - This is the cost of molding a Gold article as per the desired design. These expenses are also dependent on factors such as the design of the gold jewellery, gold jewellery brand or jeweller from which you are purchasing gold, etc. It can range from 8% to 25%.

Weight - The price of Gold is directly proportional to its weight. If a Gold article has precious gems and stones, the weight as well as price of Gold will increase.

Invoice - Always purchase Gold with a physical invoice. It will help at the time of exchanging your gold jewellery.

6 Month's Gold Rate in Gurugram

Trend of Gold Rate in Gurugram for August 2019 (rates per kg)

Gold Rates22 Carat24 Carat
1st August rate3412Rs.34,800
31st August rate3803Rs.38,650
Highest rate3826 on 28th August 2019Rs.38,950 on August 8
Lowest rate3389 on 03 August 2019Rs.34,800 on August 1
Overall performanceNANA
% changeNANA

Trend of Gold Rate in Gurugram for July 2019 (rates per kg)

Gold Rates22 Karat24 Karat
1st July rate33223488
31st July rate34103577
Highest rate3447 on 20th July 20193619 on 20th July 2019
Lowest rate3287 on 03 July 20193447 on 02 July 2019
Overall performanceNANA
% changeNANA

Trend of Gold Rate in Gurugram for June 2019 (rates per kg)

Gold Rates22 Carat24 Carat
1st June rate31223281
30th June rate33273491
Highest rate3344 on 22nd June 20193514 on 22nd June 2019
Lowest rate3122 on 01 June 20193281 on 01 June 2019
Overall performanceNANA
% changeNANA

Trend of Gold Rate in Gurugram for May 2019 (rates per kg)

Gold RatesGold Rates24 Carat
1st May rate31193278
31st May rate31043257
Highest rate3157 on 15th May 20193319 on 15th May 2019
Lowest rate3071 on 24 May 20193227 on 24 May 2019
Overall performanceNANA
% changeNANA

Trend of Gold Rate in Gurugram for April 2019 (rates per kg)

Gold Rates22 Carat24 Carat
1st April rate31153271
30th April rate31193275
Highest rate3128 on 29th April 20193284 on 29th April 2019
Lowest rate3076 on 04 April 20193232 on 07 April 2019
Overall performanceNANA
% changeNANA

Trend of Gold Rate in Gurugram for March 2019 (rates per kg)

Gold Rates22 Carat24 Carat
1st March rate32423410
31st March rate30893244
Highest rate3245 on 3rd March 20193410 on 1st March 2019
Lowest rate3089 on 31 March 20193244 on 31 March 2019
Overall performanceNANA
% changeNANA

Impact of GST on the Rate of Gold in Gurgaon

Precious metals such as Silver and Gold are subjected to Goods and Services Tax. A 3% GST is applicable on the final price of Gold.

What is BIS Hallmarked Gold Rate in Gurugram?

The Bureau of Indian Standards (BIS) is the primary hallmarking agency. It is the National Standards body of India that authenticates the purity of Gold in India. Hallmarking is the process which records and determines the metal content in Gold/Silver articles. Hallmarked Gold will contain the following information:

  • BIS Mark
  • Purity Grade (16 Gold is 22 Karat Gold; 916 Gold means that there is 91.6g of Gold in a 100g alloy. 958 is 23 Karat and 750 is 18 Karat Gold. 18 Karat/22 Karat or 24 Karat).
  • Hallmarking Centre’s Identification Number
  • Jeweller’s identification Mark
  • Year of marking - denoted by a code letter (e.g. ‘R’ for year 2013).

How to Buy Gold after Checking Gold Price in Gurgaon?

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

  • Purchasing gold ornaments from a jewellery store
  • Investing in gold coins and bars offered by jewellers, banks, non-banking finance companies and e-commerce websites
  • Buying Gold ETFs from the stock exchange after opening demat and trading accounts
  • Availing Sovereign Gold Bonds issued by the government
  • Investing in companies involved in the mining, extracting and marketing of gold

Conclusion

In conclusion, Gold is a good investment option. However, you must ensure that you purchase Gold from a certified and established jeweller to get a fair price and good quality.

FAQs on Gold Rate in Gurgaon

What is the rate of Gold per gram in Gurugram?

The rate of Gold per gram in Gurugram is Rs. 3,756 as on 9th September 2019.

What is the rate of Gold for 10 grams in Gurugram?

The rate of Gold per 10 grams in Gurugram is Rs. 37,560 as on 9th September 2019.

What is the rate of Gold for 100 grams in Gurugram?

The rate of Gold per 100 grams in Gurugram is Rs. 3,75,600 as on 9th September 2019.

What is the rate of Gold for 1 kg in Gurugram?

The rate of 1 kg Gold in Gurugram is Rs. 37,56,000 as on 9th September 2019.