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Today Gold Rate in Nellore

Gold can not only be used as wearable jewellery, but is also a tool to tide over financial emergencies. There are two ways of owning gold - physical and paper. It can be held physically - in the form of jewellery, bars and coins, and in paper, like gold ETFs and sovereign gold bonds. The rate of gold in India varies across cities due to 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 Nellore and its rates over the recent months.

Factors Affecting Gold Rate in Nellore

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

  • Inflation: on account of its almost steady character when compared with currency - holds significant value and is used to hedge against inflationary conditions. This leads investors to prefer holding gold over currency. Due to this, when inflation is high, the demand for gold rises and vice versa. The gold rate will then increase because of increased demand.

  • Rupee-dollar equation: While the rupee-dollar equation does not impact global gold prices, it does have a bearing on the Indian gold rates. Taking into consideration that gold is mostly imported, if the rupee weakens against the dollar, it will likely appreciate in rupee terms. A depreciating rupee may hurt the demand of gold in the nation. It must, however, be noted that a change in rupee-dollar rates does not affect gold prices denominated in dollars.

  • Gold and interest rates: There is a close tie between interest rates on financial products and services and the demand for gold. Current gold rates are usually good indicators of the country’s interest rate trends. With increased interest rates, people tend to sell gold in order to acquire cash, and an increased supply of gold brings down the rates of the precious metal. Lower rates of interest would mean more cash for individuals and in turn a greater demand for gold. This will inturn lead to an increased price of the metal.

How to Invest in Gold in Nellore?

If one wants to purchase physical gold, all he or she will have to do is go to a jewellery shop and buy the gold jewellery and/or gold coins. It is advised to give preference to coins as jewellery involves making costs, which the customer will not be able to recover when selling. There is also the option of buying gold exchange traded funds. They mainly park money in gold, and can be bought and sold on the exchange. For buying gold ETFs, an individual can ask the broker to buy after opening a broking and trading account. Government-issued sovereign gold bonds are also listed, and people can buy them in the same way as listed shares are bought.

Things to Remember Before Purchasing Gold in Nellore

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

  • Level of purity: There are two ways to measure the purity of gold - karat and fineness. Karat is usually the more commonly used measure of gold purity. The level of purity has an impact on the rate of gold.
  • Making charges: Another important aspect that affects the gold rate is its making charges. These charges can be quoted in two ways - i) as a percentage of the value of gold or ii) as a flat making charge per gram (of gold).
  • Hallmarking: Before buying physical gold, it is important to check for hallmarking. Hallmarked gold is evidence that the purity of the precious metal has been tested. The Bureau of Indian Standards (BIS) has been set up by the government to ensure that people do not get cheated when buying gold.

4 Months Gold Rate in Nellore

Trend of Gold Rate in Nellore for September 2019

TypePeriodRs/10gm
Lowest gold price on 14 Sep 2019Rs. 37,641
Highest gold price on 05 Sep 2019Rs. 39,589
Gold price on01 Sep 2019Rs. 38,824

Source: GoldPriceIndia

Trend of Gold Rate in Nellore for August 2019

TypePeriodRs/10gm
Lowest gold price on 01 Aug 2019Rs. 34,836
Highest gold price on 29 Aug 2019Rs. 39,203
Gold price on01 Aug 2019Rs. 34,873
Gold price on31 Aug 2019Rs. 38,793

Source: GoldPriceIndia

Trend of Gold Rate in Nellore for July 2019

TypePeriodRs/10gm
Lowest gold price on 01 Jul 2019Rs. 33,752
Highest gold price on 19 Jul 2019Rs. 35,437
Gold price on01 Jul 2019Rs. 33,752
Gold price on31 Jul 2019Rs. 35,100

Source: GoldPriceIndia

Trend of Gold Rate in Nellore for June 2019

TypePeriodRs/10gm
Lowest gold price on 27 Jun 2019Rs. 32,660
Highest gold price on26 Jun 2019Rs. 32,900
Gold price on01 Jun 2019Rs. 32,168
Gold price on30 Jun 2019Rs. 34,209

Source: GoldPriceIndia

How GST Impacts Gold Rate in Nellore

Before GST was implemented, the tax charged on gold was service tax of 1% and 1% VAT. Today, the GST on gold is 3% with a 5% making charge involved. The GST council had initially planned to levy 18% as gold making charges. However, when the new tax regime came into effect, the council decided to keep it at 5%.

What is BIS Hallmarked Gold?

Any gold jewellery that contains the BIS logo has been hallmarked by the Bureau of Indian Standards. This indicates that the purity of gold has been verified in the bureau’s licensed laboratories. BIS is the only agency in India, approved by the government for hallmarking gold to ensure its purity. It is therefore, essential to note that BIS hallmarking is not mandatory. Some jewellers also offer their in-house hallmarking of jewellery which is not verified by the BIS. Before buying gold jewellery, it is important to check with the jewellers whether or not they offer BIS hallmarked ornaments.

How to Buy Gold after Checking Gold Price in Nellore?

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

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

Conclusion

As seen from the points mentioned above, it can be concluded that gold investments are worthwhile since they act as a hedge against inflation. The returns, over a period of time, shall be in line with the rate of inflation. Another reason why many financial experts recommend this route of investment is because of the fact that gold is negatively correlated to equity investments. A couple of years back, it was observed that the equity markets were not performing too well. However, gold was performing well. Thus, including gold to one’s portfolio mix can help bring down the overall volatility of the portfolio.

FAQ's On Gold Rate in Nellore

What is per gram Gold Rate in Nellore?

According to the GoldPriceIndia website, the gold price for 24 karat gold is Rs. 3,798 per 1 gram.

What is 10 gram Gold Rate in Nellore?

According to the GoldPriceIndia website, the gold price for 24 karat gold is Rs. 37,975 per 10 grams.

What is 100 grams Gold Rate in Nellore?

According to the GoldPriceIndia website, the gold price for 24 karat gold is Rs. 3,79,750 per 100 grams.

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