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Gold rate in Jaipur

Widely known as the ‘Pink City’ of India, Jaipur is one of the largest cities in Rajasthan. Jaipur being the capital of the Indian state of Rajasthan, is the largest SEZ in the country. Having a high population of educated people, gold is one of the largest commodities traded here. The people of the city of Jaipur absolutely love gold due to which the yellow metal is always in great demand here. The rising gold price in Jaipur does not deter people from making an investment in the precious metal. Gold rate in Jaipur changes on a daily basis due to a number of factors that have a direct impact on it. People in Jaipur make heavy investments in Gold as it offers good returns and also is considered to be a safe investment option.

Factors That Influence Gold Rate in Jaipur

Jaipur is home to over 3 million people who purchase gold on a frequent basis. However, due to the fluctuating gold rates, at times, the gold price in Jaipur is low, while at times, it is very high. So to help you understand why the gold rates in Jaipur fluctuate, here are a few factors that you should know about.

  • Rupee VS Dollar: Gold is imported in Jaipur and is purchased in dollars from the US and sold in Indian Rupees in the domestic markets. So if the rupee strengthens against dollar, gold rate in Jaipur decreases, similarly, if the rupee weakens against dollar, gold rate in Jaipur decreases.
  • Dollar value: The value of the dollar has a major impact on gold rate today in Jaipur. This is because gold and dollar share an inverse relationship. If the dollar weakens, gold rate in Jaipur increases and if the dollar strengthens gold rate in the city decreases. This happens because a weak dollar increases the value of other commodities including gold. Similarly, if the value of dollar increases, then people start investing in it as it is an appreciating commodity.
  • Supply: Any imbalance in the supply of gold in Jaipur leads to a change in the gold price prevailing in Jaipur.
  • Cost of import: Gold is imported in Jaipur. So any change in the cost of import duty leads to a change in gold rate in the city.
  • Interest rates offered by banks: For over years, people considered FDs to be the safest forms of investment. However, now, people want more, so investment in gold has become a preferred option.
  • Rate of inflation: Ideally, gold is purchased as a hedge against inflation. So, when inflation witnesses an upward trend, demand for gold increases, which eventually lead to an increase in the gold rate.

Who Determines Gold Rate in Jaipur?

Gold rate in Jaipur is determined by the Jewellers Association, Jaipur that consists of various members who deal in the business of selling gold. The gold rate is arrived on the basis of the ‘buy’ and ‘sell’ quotes quoted by the top gold dealers in the city. While determining the gold rate, the above factors along with the GST and transportation charges are taken into account. Gold rate in Jaipur is different in comparison to other cities in India because of its demand, the taxes prevailing in the city and also the transportation costs.

What are the Various Gold Investment Options in Jaipur?

In the past, people of Jaipur used to only invest in gold ornaments and coins. However, with the advent of technology, people have now started investing in Gold ETFs and mutual funds.

  • Gold ornaments: This is one of the highly preferred gold investment options in Jaipur as it serves both the purpose of investment as well as fashion accessory.
  • Gold ETFs: Gold ETFs are gold exchange traded funds that are listed on the stock exchange just like other commodities. Through gold ETFs, gold can be purchased in an electronic form and it is mandatory for an individual to hold a Demat account to invest under this investment avenue.
  • Gold Fund of Funds: Investing in Gold fund of funds is just like investing in mutual fund that invests in various gold-related funds. To invest in Gold fund of fund, it is not mandatory for an individual to hold a Demat account.
  • Gold coins and bars: This is one of the traditional type of investment options which can be purchased from banks as well as jewelers. Banks provide certificate, while few jewelers don’t. Also, coins and bars purchased from banks cannot be returned.

Things to Know Before Investing in Gold in Jaipur

Gold in Jaipur has a promising future as people are constantly investing in it. Gold in Jaipur is considered to be a bankable investment as it provides hedge against inflation. However, there are a few things that an investor should know before making an investment in gold in Jaipur.

  • Cost per gram: Before buying gold in Jaipur, it’s always advisable to check for the cost per gram in the city. This is important because this helps in determining the price that will have to be shelled out to buy a particular gram of gold.
  • Weight: The weight of gold plays an important role in its price. If you buy gold ornaments embodied with diamonds and gemstone, then its weight too is included in the selling price of the jewellery. It’s always a good idea to purchase jewellery minus any gemstones or diamonds.
  • Purity of gold: Gold is available in various purity levels such as 24K (99.9%), 22K (91.7%), 20K (83.3%), 18K (75%), 14K (58.3%) and 10K (41.7%). Knowing the purity level of the gold you purchase lets you know about the exact percentage of pure gold content in it. 24K gold will cost you more than 22K and 20K gold.
  • BIS certification: While buying gold in Jaipur, always check for the BIS hallmark. Doing this will assure you that your gold purchase is pure and meets the standards prescribed by the IBJA. The gold item you purchase should feature the below BIS components: BIS logo, purity of gold, assay centre, jeweler’s identification mark and the year of hallmarking.

FAQs on Gold Rate in Jaipur

What is gold rate today in Jaipur?

You can check gold rate today in Jaipur online or at your nearest jewellery showroom.

Can I buy gold in Jaipur on EMI?

No, you cannot buy gold in Jaipur on EMI in India. There are various gold schemes that you can first pay in and then buy gold in the city.

Do youngsters in Jaipur invest in gold?

Yes, since the youngsters in Jaipur are very much aware about the benefits of investing in Gold, they do invest in the precious metal.

What is Jaipur 24K gold (99.9%) price today?

You can check it at your nearest jewellery showroom or online.