Today Gold Rate in Guwahati is Rs. 32,107.00 per 10 grams for 24 Karat
(10 grams = 1 tola gold)
Guwahati is one of the largest cities in the North-eastern part of India. It is also the capital city of Assam. It is considered to be a city with rich heritage that has an environment which is conducive for the business and investments. Gold jewellery is one of the popular forms of investment in the city. During festivals like Diwali, the city becomes a hub for gold lovers. Gold, thus, occupies a very special place in the mind and heart of the people of Guwahati. To assess today’s gold rate in Guwahati, a lot of factors need to be considered some of which will be discussed as below.
Factors that affect gold rate in Guwahati are:
Gold rates in India are primarily influenced by global cues and thus should ideally be same across the country but it is not the case. Gold rate in Assam is different from the gold rate in Delhi. Gold rate in Guwahati and other cities of Assam may not be the same due to multiple factors that influence the current gold rate in Assam’s various cities of the following factors:
| Gold Price Trend in March 2019 | |
| Trend | 24 Karat Gold (Rs/10gm) |
| Rate on 01-March-2019 | 34,984.00 |
| Rate on 29-March-2019 | 32,107.00 |
| Highest Rate | 34,984.00 |
| Lowest Rate | 32,107.00 |
| Month Performance | Rising |
| % Change | 8.22 % |
| Gold Price Trend in February 2019 | |
| Trend | 24 Karat Gold (Rs/10gm) |
| Rate on 01-February-2019 | 34,994.70 |
| Rate on 28-February-2019 | 34,984.00 |
| Highest Rate | 35,615.00 |
| Lowest Rate | 34,620.30 |
| Month Performance | Rising |
| % Change | 0.03 % |
Gold rate in Guwahati are in general a representation of gold rate in the domestic as well as International market. It witnesses a lot of fluctuations due to several factors, some of which have already been discussed above. The demand of gold increases significantly during the festivals and occasions such as Dhanteras and Diwali. Guwahati being the largest city in Assam and a major hub for gold transactions attract a large number of buyers from other neighbouring places in and around the state. In the recent years, there have been many business opportunities coming up which implies higher disposable income of the people living in Guwahati and thus high sales of gold there.
In addition to gold jewellery, people invest in gold in other forms as well. Some of the other gold investment options are:
Three ways through which you can buy gold in Guwahati are:
Also Read : Know How Jewellers Quote Gold Jewellery Rates
The difference between the terms “Carat” and ‘’Karat” is given as below:
Carat: The word “Carat” is a measure of mass. It is usually used to express the weight of the precious stones and pearls and especially diamonds. 1 carat is equal to 200 mg. Higher the carat value; greater will be the price of the gemstone.
Karat: The word “Karat” is a measure of purity with respect to gold. The common karat values in India are 24 karat, 22 karat and 18 karat. Since pure gold is soft at room temperature, it can easily be moulded and hence cannot be used to make jewellery especially the ones with intricate designs. To make gold jewellery other metals need to be added such as copper, since and nickel. A 24 karat rating implies that the gold has the negligible amount of alloys or impurities in it. On the other hand, a 12 karat rating indicates that it has a 50 percent ratio of alloys in it. Here also the value of karat is directly proportional to the quantity of gold and hence its price. Higher the karat value, greater will be the gold rate.
Also Check : Hallmarked Gold, KDM Gold and 916 Gold – What is the Difference?
Physical gold such as gold coins, gold bars and gold jewellery are made in different gold ‘caratage’. ‘Caratage’ is basically the measurement of purity of gold alloyed with other metals. 24 karat is pure gold. When we say pure, we mean that it is not alloyed with other metals. Low cartage implies lower amount of gold such as an 18 karat gold article contains 75 percent of gold and 25 percent of other metals such as copper and silver.
Finesse is yet another way to express the quantity of gold metal present in a gold article. Unlike Caratage, Finesse is represented in parts per thousand and is usually stated without a decimal point. For instance, the finesse for 24 karat gold is 999 or 995.
Finesse is represented in parts per thousand; therefore a 24 karat gold if expressed in finesse will be expressed as 999. Ideally it should be 1000 but it cannot be as even 24 karat gold includes some form of impurity in it. Similarly, 22 karat gold is expressed as 22 divided by 24 and then multiplied by 1000 giving you 0.9166 or 916 finesse.
Following is the fineness scale which is used while defining the purity of gold:
24 Karat = 999 or 99.9% Pure Gold
22 Karat = 913 or 91.3% Pure Gold
18 Karat = 750 or 75% Pure Gold
14 Karat = 585 or 58.5% Pure Gold
10 Karat = 417 or 41.7% Pure Gold
Tax calculation on gold relies on what it is used for; therefore it varies. If you ask about the impact of GST on gold prices in India, then after this new tax system is implemented the gold rates in India have slightly increased. Before GST came into picture, gold jewellers had to pay 1% excise duty, 1.2% VAT (Value Added Tax) and 10% customs duty on gold purchase. This summed up to 12.43% tax on gold. But after the implementation of GST, gold jewellers will now have to pay 3% GST on gold, an import duty of 10% and 18% tax on the making charges of the jewellery. Prior to GST, no tax was imposed on making charges of the jewellery. This effectively comes to 15.67%. Hence, buyers will have to pay an additional 3.24% as tax under the GST regime.
Whether you are buying gold jewellery in Guwahati or in any other city of Assam, always keep the following points in mind when making the purchase:
Gold prices in Assam fluctuate daily, making it important to stay abreast with the current gold rate trends in India. Monitoring gold rate in Guwahati will help you make the most informed decision on when to buy or invest in gold jewellery.
BIS (Bureau of Indian Standards) Hallmark is the first thing that a buyer must look for when buying gold jewellery in India. The hallmark ensures that you are not being cheated by the jewellers and are paying for the right quality of gold. Jewellers do not certify the purity. BIS assaying centres do that for you. Also, only jewellers licensed by BIS can get their jewellery certified at these centres.
Before buying gold jewellery, always enquire about their gold jewellery exchange policies. Doing so will help you when you need to exchange old gold jewellery designs with a new one. If your jewellery will have a good gold jewellery exchange policies, getting a new gold jewellery design will save you from buying a new one.
Most buyers avoid an invoice so as to avoid paying tax on their purchase. But one must always request for a permanent bill instead of a temporary bill. This practise must be stopped as it can put you at further risk. Firstly your permanent bill is an official record of your gold purchase. It provides you the assurance of purity and will be helpful on any taxation related inquiries. It also acts as a proof of legal ownership. It also provides transparency as it includes current gold rate, weight of gold, gold jewellery making charges, GST (Goods and Services Tax) charges and other variables of the total amount.
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