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Today Gold Rate In Rajahmundry

Gold is often regarded as a safe haven. Many people use it to protect against inflationary conditions and as a safety measure during instances of political unrest. The demand for this precious metal has been witnessing a steady increase over recent years.

Gold can be owned physically - as jewellery, bars and coins, or in paper, like gold ETFs and sovereign gold bonds. Its price varies across cities as a result of local market factors such as supply and demand, state taxes and transportation charges (of physical gold). This article focuses on how lucrative gold investments are in the city of Rajahmundry and its rates over the recent months.

Factors Affecting Gold Rate in Rajahmundry

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

  • Inflation: It has been observed that inflation has a bearing on gold rates. When the economy goes through inflation, the value of the local currency weakens. This leads more people to start investing in gold. On account of the growing demand, there will be a rise in its eventual price.
  • Rupee-dollar equation: While global gold rates aren’t impacted by the rupee-dollar equation, it does affect the gold prices in India. Considering the fact that gold is largely imported, when the rupee weakens against the dollar, the rates will likely appreciate in rupee terms. A depreciating rupee may hurt the demand of the precious metal in the nation.
  • Monsoon: Annually, the country consumes about 800-850 tonnes of gold, and rural India makes up for 60% of the gold consumption. Monsoon plays a big role in gold consumption - when the crop is good, farmers buy gold to create assets. On the other hand, if there is deficient monsoon, farmers seek to sell gold to generate funds.

How to Invest in Gold in Rajahmundry?

To buy physical gold i.e. jewellery or coins, an individual would simply need to visit a jewellery shop and make the purchase. It is generally advised to opt for coins since jewellery includes making costs, which the buyer will not be able to recover when selling. In case of gold ETFs, the investor will need to have a Demat account. Sovereign gold bonds are also listed, and investors can buy them in the same manner in which listed shares are bought.

Things to Remember Before Purchasing Gold in Rajahmundry

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

  • Purity: The purity of the yellow metal is measured and denoted in Karat. The purest form of gold available is 24KT, however, it is very soft to be used for making jewellery. The most popular form of the precious metal available in ornaments is 22KT. The level of purity influences the rate of gold.
  • Hallmarking: While buying a gold jewellery or coin, it is important to check if it is hallmarked. The government has set up the Bureau of Indian Standards to ensure that buyers are not cheated when they purchase gold. The body certifies gold ornaments by stamping it.
  • Making charges: This is essentially the labour cost associated with creating the gold jewellery. Some jewellers set the making charge at a fixed rate per gram of gold, while others charge it on the basis of a certain percentage of the jewellery weight.

4 Months Gold Rate in Rajahmundry

Trend of Gold Rate in Rajahmundry for September 2019

TypePeriodRs/10gm
Lowest gold price on 19 Sep 2019Rs. 37,623
Highest gold price on 04 Sep 2019Rs. 39,609
Gold price on01 Sep 2019Rs. 38,779

Source: GoldPriceIndia

Trend of Gold Rate in Rajahmundry for August 2019

TypePeriodRs/10gm
Lowest gold price on 01 Aug 2019Rs. 34,834
Highest gold price on 29 Aug 2019Rs. 39,200
Gold price on01 Aug 2019Rs. 34,852
Gold price on31 Aug 2019Rs. 38,782

Source: GoldPriceIndia

Trend of Gold Rate in Rajahmundry for July 2019

TypePeriodRs/10gm
Lowest gold price on 01 Jul 2019Rs. 33,745
Highest gold price on 19 Jul 2019Rs. 35,446
Gold price on01 Jul 2019Rs. 33,745
Gold price on31 Jul 2019Rs. 35,106

Source: GoldPriceIndia

Trend of Gold Rate in Rajahmundry for June 2019

TypePeriodRs/10gm
Lowest gold price on 27 Jun 2019Rs. 34,153
Highest gold price on26 Jun 2019Rs. 34,796
Gold price on01 Jun 2019Rs. 32,227
Gold price on30 Jun 2019Rs. 34,171

Source: GoldPriceIndia

How GST Impacts Gold Rate in Rajahmundry

The GST applicable on gold is 3%. Prior to the implementation of GST, the tax charged on gold was - 1% service tax and 1% VAT. Besides GST, there is an additional 5% tax levied on making charge.

What is BIS Hallmarked Gold?

A gold ornament that has been hallmarked by Bureau of Indian Standards will have the BIS logo. This certifies that the piece of jewellery meets the standards laid by the BIS. However, BIS hallmarking is not compulsory, and some jewellers provide their in-house hallmarking of jewellery. Prior to purchasing any gold jewellery, individuals are advised to check with jewellers whether they offer BIS hallmarked ornaments.

How to Buy Gold after Checking Gold Price in Rajahmundry?

The different ways by which people can buy gold include:

  • Purchasing gold ornaments from a jewellery store
  • Investing in gold bars and coins
  • Buying Gold ETFs after opening demat and trading accounts
  • Availing Sovereign Gold Bonds
  • Investing in firms who are into 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 Rajahmundry

What is per gram Gold Rate in Rajahmundry?

According to the GoldPriceIndia website, the gold price for 24 karat gold is Rs. 3,763 per 1 gram.

What is 10 gram Gold Rate in Rajahmundry?

According to the GoldPriceIndia website, the gold price for 24 karat gold is Rs. 37,627 per 10 grams.

What is 100 grams Gold Rate in Rajahmundry?

According to the GoldPriceIndia website, the gold price for 24 karat gold is Rs. 3,76,270 per 100 grams.