Today Gold Rate in Gurgaon is Rs. 43,055.00 per 10 grams for 24 Karat
(10 grams = 1 tola gold)
Gurgaon is a city located in the state of Haryana. It is a part of National Capital Region of Delhi. Harbouring over 250 global organizations which are Fortune 500 companies, Gurgaon is a huge industrial and financial hub and enjoys one of the highest per capita incomes in India. Since the city is economically highly capable, people in Gurgaon look for investing in gold to a great extent. Gold has the future appreciation as well as good resale value. It is also associated with the status and prestige that goes in accordance with the income and lifestyle there. Due to such a high demand, gold rate in Gurgaon fluctuates throughout the day. This is the why buyers must always check today’s gold rate in Gurgaon before making gold investments.
Trend of Gold Rate in Gurgaon for last 10 days
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What are the Factors that Influence Gold rate in Gurgaon?
- Demand and Supply: Demand and supply is the basic factor that influences gold prices in Gurgaon. When the supply of gold suddenly increases for instance during the wedding or festive season, the gold rates increases. But the demand is not the only reason for the upsurge in the gold rates; demand is also a notable reason for the increase in the gold rate in India. With the constant demand if the supply dips in the market, then the gold rates in Delhi or in fact anywhere in India will increase.
- Central Bank Policies: Every country has a 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. On the other hand, the gold rate tomorrow might be less than today’s gold rate because a central bank liquidated some of the gold from its gold reserves and increased its availability in the market.
- Quantitative Easing (QE) Initiatives: The strategy of Quantitative Easing aims to make sure that more money is introduced in the market so that banks give loans more readily to their customers to encourage spending. This is especially true here in India, where RBI has been cutting Repo and other rates regularly to drive economic growth of the country. But this has one bad effect on fixed-rate investments such as fixed deposits as their returns fall, which forces many investors to turn to gold to hedge their interests. Such increase in demand is bound to drive gold rate in Delhi, Mumbai or any other city in the country up.
- Currency Movement: US Dollar is by far the single major currency with which various smaller economies either link their own currency or adopt it as their own. Thus, if the value of US dollar falls, panic starts to set in with investors which force them to buy physical gold and other investment options such as Gold ETFs and Sovereign Gold Bond to safeguards their money.
- 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, gold rate in Bangalore and other cities in India also increases as at such time investors flock towards the glittering yellow metal.
- Possibility of a Global Crisis: At the time of global crises or war situations, investors lose their trust in their governments and economy and therefore head to invest in gold so that they don’t suffer great losses. It is quite obvious that as more and more investors head for gold, the demand increases which subsequently leads to increase In its price.
Last 4 Months Trend of Gold Rate in Gurgaon
|Gold Price Trend in March 2020|
|Trend||24 Karat Gold (Rs/10gm)|
|Rate on 01-March-2020||42,820.00|
|Rate on 27-March-2020||43,055.00|
|% Change||-0.55 %|
|Gold Price Trend in February 2020|
|Trend||24 Karat Gold (Rs/10gm)|
|Rate on 01-February-2020||40,780.00|
|Rate on 29-February-2020||42,820.00|
|% Change||-5.00 %|
|Gold Price Trend in January 2020|
|Trend||24 Karat Gold (Rs/10gm)|
|Rate on 01-January-2020||40,695.20|
|Rate on 31-January-2020||40,460.00|
|% Change||0.58 %|
|Gold Price Trend in December 2019|
|Trend||24 Karat Gold (Rs/10gm)|
|Rate on 07-December-2019||39,786.10|
|Rate on 31-December-2019||40,695.20|
|% Change||-2.28 %|
What are the various Gold Investment options available in Gurgaon?
- 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. Physical gold is usually available in 24 karat, 22 karat and 18 karat. Physical gold as an investment option is not as good as it is considered to be as it includes purity, safekeeping and various other drawbacks. If you wish to invest in physical gold sans its drawbacks then Digital Gold is the one for you.
- 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). It is a good investment option as unlike physical gold at the time of redeeming it you get equivalent cash as per the current gold rates.
- 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. Also, investing in these funds is very easy as it does not require demat account.
- 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). The rate of the bonds is set on the basis of simple average of closing rate of 999 fine gold published by the Indian Bullion and Jewellers Association Ltd. To invest in these bonds, investors pay the issued amount of the bonds.
- 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. When you have enough gold accumulated in your account, you can even get it delivered at your doorstep in the form of gold coins. These gold coins are 24k pure. A lot of Digital Gold providers also offer people an option to regularly save in gold through Gold Saving Plans.
What are the different varieties of gold sold in Gurgaon?
Gold’s purity is measured through a unit known as ‘Karat’. It is denoted by the letter ‘K’. High karat value implies high purity in gold and vice-versa. Gold is available in different varieties in terms of their karat value. Let us have a look at some of them:
- 24K gold: It is the purest form of gold. But it is too soft to be made into coins and bars. Since it is the purest form of gold, 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.
- 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 lesser malleable and more appropriate to craft gold jewellery.
- 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.
What are the different avenues through which you can buy gold in Gurgaon?
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 scenario. It preserves the value and acts as a hedging instrument against fall in Rupee and other economic uncertainties. 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 form of physical gold is 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. For example, 375 Hallmark gold corresponds to 9 karat gold, 585 Hallmark is 14 karat, 750 Hallmark is 18 karat, 916 Hallmark is 22 karat and so on. 999 Hallmark is the highest level of purity expressed as 24 karat gold as well. There are different ways to measure gold in Gurgaon for commercial operations like Grams, Tolas (equals 11.6638 grams), Sovereign and Pavans (each equals 8 grams), Ounces (equals 31.1035 grams) and also in Kilograms (equals 1000 grams). Gold coins are mostly sold in Tolas, Pavans and sovereigns, gold biscuits are sold in ounces while gold bars are traded in kilograms. Varieties of colours of gold jewellery are available in Gurgaon. While yellow gold is the most popular, other colours of gold are also purchased here like white, rose and green gold.
- Online Trading: Digital Gold is a new way to invest in gold. People in Gurgaon have access to online portals to trade in gold. These portals offer 24K gold and allow customers to buy it in fractions. Buyers can hold gold without worrying about storage costs. They can buy and sell gold anytime and anywhere as per their convenience.
- Trading Gold in Stock Market: People can buy and sell gold in the electronic form where holding the physical gold is not needed. 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. Gold is also traded as ‘options’ and ‘futures’ and people who are more skilled in trading can avail those opportunities of investments.