
Today Gold Rate in Ludhiana is Rs. 0.00 per 10 grams for 24 Karat
(10 grams = 1 tola gold)
Today Gold Rate in Ludhiana is Rs. 0.00 per 10 grams for 24 Karat
(10 grams = 1 tola gold)
Gold is one of the precious yellow metals that can be owned in the form of physical gold, gold ornaments, gold coins, jewelry, and even gold bars. In Ludhiana, gold holds an incomparable value owing to its Punjabi cultural importance in weddings and festivals. These are the times when the demand for gold tend to increase. Before buying gold, it is important to know how gold will be taxed, or other important aspects regarding gold purchasing or investing in gold.
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Gold bullion dealers in Ludhiana don’t decide the gold rate rather they take the base price set by London Bullion Market Association (LBMA) and add applicable taxes as per the prevailing tax laws in the state.
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Gold prices are derived from the London Over-the-counter market and COMEX gold futures market trading. Although the international gold rate has an impact on the gold rate in Ludhiana, the latter doesn’t affect the former one. The Indian Bullion Jewellers Association (IBJA), apex jewellery and bullion body in India, plays a key role in determining day to day gold rate in Ludhiana and across India as well. Through the given formula, one can calculate the final price of their gold jewellery:
Final price of the jewellery = Price of the gold (22/18/14 Karat)* Weight in grams + Making charges + GST at 3% on the price of (Jewellery + making charges)
With the implementation of GST on gold, customers would be required to pay 3% tax on gold. In addition, an additional 8% tax on the making charges and 10% of the import duty.
Gold ETFs
Note: Investors should know the charges associated with Gold MF such as 1% will be charged as expense ratio along with brokerage and demat charges.
Gold Fund
If you are buying physical gold for investment or even for consumption purpose, it is recommended to buy hallmark jewellery. BIS Hallmark certifies that your gold conforms to the national and international standards of fineness and purity. That is, if you have bought, 18K gold jewellery, one can be assured that 75% is gold in your jewellery and rest is other metals. Here are the components, one must check while buying physical gold:
Karat | Fineness |
22 Karat | 22K916 |
18 karat | 18K750 |
14 karat | 14K585 |
As it is with any other investment, there are certain things one should know before investing in gold and here they are:
To meet short term credit needs, one can use their gold to avail gold loan. All one needs to do is take the gold one is ready to pledge to the bank. Here are the top 10 banks and NBFCs offering gold loan in India you can refer to.
After evaluating the gold on the basis of net weight, purity, fineness and your repaying capacity, loan amount that can be sanctioned to you will be calculated. The gold you deposit will be kept in their high security vault and the borrower needs to repay the loan through EMIs, paying interest upfront or as stated in the agreement.
Many at times it is seen that the performance of the economy has a direct impact on gold rate. Consider the following instances:
It is also referred to as a digital accumulation plan or E-gold. Powered by MMTC-PAMP and Safegold, both of them have partnered up with number of platforms and some of them are mentioned below:
Through these platforms, any individual over the age of 18 can buy gold and can participate in a digital accumulation plan. However, one needs to be a registered customer on the platform. All s/he one needs to do is select the quantity and the same will be credited into your wallet.