| Weight | 22 Carat Gold | 24 Carat Gold |
|---|
| Date | 22 Carat Gold | 24 Carat Gold |
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As an investment, gold is seen as one of the best hedges against inflation. It can be owned physically i.e. in the form of jewellery, gold bars and coins, or in paper, like gold exchange traded funds and sovereign gold bonds. The price of gold in India varies across cities and states on account of local market factors such as its demand and supply, state government taxes and transportation charges (of physical gold). This article sheds light on how lucrative gold investments are in Punjab and its rates over the recent months.
A number of factors have an impact on the gold rate in Punjab. Here is a look at a few:
Inflation: During times of inflation, the value of currency falls. This prompts more people to hold money in the form of gold. When inflation remains high over a longer duration, gold serves a tool to hedge against inflationary conditions. This results in gold prices moving up during inflationary period.
Rupee-dollar equation: Although the rupee-dollar equation does not affect global gold prices, it plays a role in Indian gold rates. Given that gold is largely imported, if the rupee weakens against the dollar, gold prices 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 rates denominated in dollars.
Gold and interest rates: Under normal circumstances, gold and interest rates have a negative relationship, some industry experts have suggested. Rising yield denotes an expectation of strong economy. This situation gives rise to inflation, and gold is used as a hedge against inflation. When rates increase, investors move to fixed-income investments that yield a fixed return, unlike gold, which does not fetch any such returns. Demand therefore takes a back seat, with prices staying flat.
If an individual wants to buy physical gold, all he or she has to do is go to the nearest jewellery shop and purchase gold jewellery and/or gold coins. It is advisable to opt for coins since jewellery has making costs, which the individual will not be able to recover when selling. Other than physical gold, one has the option of buying gold ETFs. They are funds that mainly invest in gold, and can be purchased and sold on the exchange. To buy gold ETFs, one simply needs to ask the broker to buy after opening a broking and trading account. Sovereign gold bonds are also listed, and individuals can buy them in the same manner as listed shares are bought.
A few factors to keep in mind before buying physical gold are as follows:
Trend of Gold Rate in Chandigarh (Punjab) for August 2019
| Gold Rates | 22 Carat | 24 Carat |
|---|---|---|
| 1st August rate | Rs. 33,200 | Rs. 35,130 |
| 31st August rate | Rs. 37,100 | Rs. 39,360 |
| Highest Price on August | Rs. 37,600 on August 29 | Rs. 39,860 on August 29 |
| Lowest Price on August | Rs. 33,100 on August 2 | Rs. 35,030 on August 2 |
| Overall Performance | Rising | Rising |
| Percentage Change | +11.75% | +12.04% |
Source: Good Returns
Trend of Gold Rate in Chandigarh (Punjab) for July 2019
| Gold Rates | 22 Carat | 24 Carat |
|---|---|---|
| 1st July rate | Rs. 32,700 | Rs. 34,220 |
| 31st July rate | Rs. 34,420 | Rs. 35,620 |
| Highest rate | Rs. 34,700 on July 19 | Rs. 35,900 on July 19 |
| Lowest rate | Rs. 33,020 on July 1 | Rs. 34,220 on July 1 |
| Overall performance | Rising | Rising |
| % change | +4.24% | +4.09% |
Trend of Gold Rate in Chandigarh (Punjab) for June 2019
| Gold Rates | 22 Carat | 24 Carat |
|---|---|---|
| 1st May rate | Rs. 31,100 | Rs. 33,160 |
| 30th June rate | Rs. 32,700 | Rs. 34,500 |
| Highest rate | Rs. 33,200 on June 28 | Rs. 35,000 on June 28 |
| Lowest rate | Rs. 31,100 on June 10 | Rs. 33,150 on June 10 |
| Overall performance | Rising | Rising |
| % change | +5.14% | +4.04% |
Trend of Gold Rate in Chandigarh (Punjab) for May 2019
| Gold Rates | 22 Carat | 24 Carat |
|---|---|---|
| 1st May rate | Rs. 30,950 | Rs. 32,150 |
| 31st May rate | Rs.30,900 | Rs. 32,960 |
| Highest rate | Rs. 31,300 on May 31 | Rs. 32,960 on May 31 |
| Lowest rate | Rs. 30,200 on May 10 | Rs. 31,600 on May 10 |
| Overall performance | Rising | Falling |
| % change | -0.16% | +2.52% |
Trend of Gold Rate in Chandigarh (Punjab) for April 2019
| Gold Rates | 22 Carat | 24 Carat |
|---|---|---|
| 1st April rate | Rs. 31,160 | Rs. 32,170 |
| 30th April rate | Rs. 30,950 | Rs. 32,150 |
| Highest rate | Rs. 31,170 on April 17 | Rs. 32,330 on April 17 |
| Lowest rate | Rs. 30,550 on April 6 | Rs. 31,700 on April 6 |
| Overall performance | Falling | Falling |
| % change | -0.67% | -0.06% |
Trend of Gold Rate in Chandigarh (Punjab) for March 2019
| Gold Rates | 22 Carat | 24 Carat |
|---|---|---|
| 1st March rate | Rs. 32,600 | Rs. 33,600 |
| 31st March rate | Rs. 31,150 | Rs. 32,160 |
| Highest rate | Rs. 32,600 on March 1 | Rs. 33,600 on March 1 |
| Lowest rate | Rs. 31,000 on March 18 | Rs. 32,000 on March 18 |
| Overall performance | Falling | Falling |
| % change | -4.45% | -4.29% |
Checking the price of gold is vital because even a minute variation in gold rate can result in a major loss. The prices of gold today are very high as compared to that of a decade ago. Individuals are advised to compare the current gold rate of one jeweller with that of the others in the city. The bigger and well-established jewellers are likely to charge higher in making charges for gold purchase. If one finds that the making charges of gold is significantly high in one jewellery store, it is recommended to evaluate the rate charged by goldsmiths or jewellers. In doing so, the individual might be able to find one whose rate fits his or her pocket.
Gold jewelleries hallmarked by the Bureau of Indian Standards shall bear the BIS logo. This serves as evidence that the purity of the gold has been verified in one of the bureau’s licensed laboratories. It is however important to note that BIS hallmarking is not mandatory - not all jewellers offer hallmarked BIS jewellery. Some offer their in-house hallmarking of jewellery which is not verified by the national standards body of India. Prior to buying gold jewellery, it is essential to check with the jewellers whether or not they offer BIS hallmarked ornaments.
The different ways by which a user can buy gold include:
Prior to the implementation of GST, the tax levied on gold was 1% service tax and 1% VAT. Now, the GST applicable on gold is 3%. Additionally, gold has a 5% making charge. The GST council had earlier 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%.
Investing in gold is worthwhile because it acts as a hedge against inflation. Overtime, the returns would be in line with the rate of inflation. The second reason why financial experts recommend this route of investing is due to the fact that gold is negatively correlated to equity investments. From the year 2007, it was observed that the equity markets did not perform too well, whereas gold did. Thus, including gold in one’s portfolio mix can help reduce the overall volatility of the individual’s portfolio.
What is per gram Gold Rate in Punjab?
According to the website of Good Returns, the gold price for 24 Carat gold in Chandigarh is Rs. 3,810 per 1 gram.
What is 10 grams Gold Rate in Punjab?
According to the website of Good Returns, the gold price for 24 Carat gold in Chandigarh is Rs. 38,100 per 10 grams.
What is 100 grams Gold Rate in Punjab?
According to the website of Good Returns, the gold price for 24 Carat gold in Chandigarh is Rs. 3,81,000 per 100 grams.
