Today’s Gold Rate in Gurgaon

The fluctuation in gold rates in Gurugram as well as the whole country is due to the presence of certain important factors. Some of the contributing factors are listed below-

1. Demand and Supply: Demand and supply is the basic factor that influences gold prices in Gurgaon. With the constant increase in demand, if the supply dips in the market, then the gold rates will increase.
2. Central Bank Policies: The central bank which keeps gold reserves to ensure deficit financing does not decrease the value of currency so much that hyperinflation occurs. If the reserves are running low, central banks can drive the rates up by placing bulk purchase orders from various sources across the globe.
3. Rate of US Dollar: Gold and Dollar share an inverse relationship. A falling dollar increases the value of other countries’ currencies which in turn increases the demand for commodities including gold.
4. Inflationary Trends: Inflation in moderation is a sign of affluence. But in case of hyperinflation, investors consider gold investments safer than currency notes. Therefore, during high inflation, the gold rate tends to increase.
5. Possibility of a Global Crisis: At the time of global crisis, it is quite obvious that investors head for gold, which leads to increase in demand which subsequently leads to an increase in the price of gold.

Across the world, the Gold Rate is decided by the London bullion association and IBA publishes the gold prices in US dollars which serves as a benchmark worldwide for bankers and bullion traders.

In India, the Indian Bullion Jewellers Association (IBJA) IBJA takes the international price of the gold as a base and adds import duty and other applicable taxes and determines the price of gold. IBJA comprises gold dealers and sellers who decide the gold rate today by taking average of the ‘buy’ and ‘sell’ quotes provided by the well-known jewellers.

With the implementation of Goods and Services Tax (GST) in July 2017, 1.2% VAT and excise duty of 1% has been replaced with 3% GST. However apart from 3% GST levied, you will be required to pay taxes on processing charges and customs duty that remain unchanged at 5% and 10%, respectively.

In case you wish to purchase gold in Gurgaon, there are certain factors that should be kept in mind-

1. Rate of Gold- The first and foremost thing is to check the present day gold rate before making any purchase, as gold rates tend to change on an everyday basis.
2. Making Charges- You should enquire about the rate at which making charges are levied. It is advisable to buy gold from the seller who levies the lowest making charges on gold.
3. Purity- Gold is categorized in karats or carats which is the unit that gives an idea about the pure gold content in that item. 24 K gold is considered as the purest form of gold
4. Hallmark- You must ensure that the purchased gold item comes with a hallmark certificate. 
5. Receipt of the purchase order- Do not forget to get the receipt for the purchased gold. It is an important document, especially at the time of re-selling the item in the future.

Gold’s purity is measured through a unit known as ‘Karat’ Or ‘Carat’. High karat value implies high purity in gold and vice-versa. Gold is available in different varieties in terms of their karat value.

24 Carat (24K) Gold

It is the purest form of gold and hence its price is higher than 22 Karat or 18 Karat gold. This variety of gold is best used for investment purposes and also in the making of coins, bars, medical devices and electronics.

22 Carat (22K) Gold

22K gold jewellery has 22 parts of gold mixed with the 2 parts of other metals such as nickel. It is also known as ‘916 gold’ because it includes 91.67% of pure gold. It is harder than 24K gold as it has other metals mixed with it, which makes it less malleable and more appropriate to craft gold jewellery.

18 Carat (18K) Gold

It has 75% gold mixed with 25% other metals. Studded gold jewelleries and other diamond jewelleries are usually made in 18 Karat gold. In comparison with both 24K and 22K varieties of gold, this kind of gold comes with the lowest gold rate price tag.

• Physical Gold: Physical gold is the tangible gold available in the form of gold jewellery, gold coins and gold bars. This form of gold investment is the most common in India as it has been followed by everyone from past many generations. 
• Gold Exchange Traded Funds (Gold ETFs): Gold ETFs or Gold Exchange Traded Funds represent physical gold but in dematerialised form. One unit of gold ETF is equal to 1 gram of 24K gold. Just like stocks, gold ETFs are listed on NSE (National Stock Exchange) and BSE (Bombay Stock Exchange). 
• Gold Mutual Funds: Gold Mutual Funds or Gold Funds on Funds are open-ended funds that invest in Gold ETFs. Investors can invest in gold ETFs anytime they want. 
• Sovereign Gold Bonds (SGBs): They are mainly government securities that are issued to people in the units of grams and are available in demat or paper form. These bonds are issued by the Central Bank of India, i.e., the Reserve Bank of India (RBI). 
• Digital Gold: Digital Gold is a new and transparent way to invest in physical gold online. In this you can buy and sell 24K gold in a dematerialised form at live market rates. Digital Gold is highly affordable as it can be bought in fractions at a price as low as Rs. 100. 

Due to the appreciation in price, gold is a major investment opportunity to avoid the adverse effects of political and economic turmoil in domestic and international scenarios. To protect your interests, buy gold through the following avenues present in Gurgaon:

Jewellery Shops

Gurgaon has innumerable shops where gold ornaments are traded over the counter. Along with ornaments, coins and other forms of physical gold are bought and sold here. Certification regarding the authenticity and quality of gold is available in these shops. The quality is expressed in terms of Hallmark standards as well as ‘Karat’ in Gurgaon.

Online Trading

Digital Gold is a new way to invest in gold. There are many online portals available to trade in gold. These portals offer 24K gold and allow you to buy it in fractions. Buyers can hold gold without worrying about storage costs.

Trading Gold in Stock Market

You can buy and sell gold in the electronic form where holding physical gold is not required. Different gold funds and Gold Equity Traded Funds are excellent ways to invest in gold through a Demat account and at the convenience of one’s home.