Gold Rate in Gurgaon
21st Oct 2020
Today MCX gold price in rupees per 10 grams.
Today gold price in Gurgaon is 54100 rupees per 10 grams
(10 grams = 1 tola gold)
22 Carat & 24 Carat Gold Rate in Gurgaon Per Gram (INR)
Today 24 Carat Gold Price per gram in Gurgaon (INR)
|Gram||24 Carat Gold Yesterday||24 Carat Gold Today||Daily Price Change|
|1 Gram||Rs 5410.00||Rs 5379.00|
|8 Gram||Rs 43280||Rs 43032|
|10 Gram||Rs 54100||Rs 53790|
|100 Gram||Rs 541000||Rs 537900|
Today 22 Carat Gold Price per gram in Gurgaon (INR)
|Gram||22 Carat Gold Yesterday||22 Carat Gold Today||Daily Price Change|
|1 Gram||Rs 4960.00||Rs 4931.00|
|8 Gram||Rs 39680||Rs 39448|
|10 Gram||Rs 49600||Rs 49310|
|100 Gram||Rs 496000||Rs 493100|
Today Gold Rate in Gurgaon
Gurgaon (Gurugram) city is one of the top financial hubs in India. Currently, it is one of the cities earning top per capita income across India. Located in the state of Haryana, Gurgaon harbors 250 plus Fortune 500 companies across the globe, and has a population over 2 million. Gurgaon city is one of the top consumers of gold in India. It is because of the affluence of its people. In Gurgaon (Gurugram), gold jewelry is worn as a fashion statement. Additionally, it symbolizes prosperity and festivities.
22 & 24 Carat Gold Rate in Gurgaon for Last 10 Days
|21 October 2020||Rs. 4960.00||Rs. 49600||Rs. 5410.00||Rs. 54100|
|20 October 2020||Rs. 4931.00||Rs. 49310||Rs. 5379.00||Rs. 53790|
|19 October 2020||Rs. 4930.00||Rs. 49300||Rs. 5378.00||Rs. 53780|
|18 October 2020||Rs. 4929.00||Rs. 49290||Rs. 5377.00||Rs. 53770|
|17 October 2020||Rs. 4928.00||Rs. 49280||Rs. 5376.00||Rs. 53760|
|16 October 2020||Rs. 4927.00||Rs. 49270||Rs. 5374.00||Rs. 53740|
|15 October 2020||Rs. 4926.00||Rs. 49260||Rs. 5374.00||Rs. 53740|
|14 October 2020||Rs. 4925.00||Rs. 49250||Rs. 5373.00||Rs. 53730|
|13 October 2020||Rs. 4955.00||Rs. 49550||Rs. 5408.00||Rs. 54080|
|12 October 2020||Rs. 4980.00||Rs. 49800||Rs. 5433.00||Rs. 54330|
|11 October 2020||Rs. 4961.00||Rs. 49610||Rs. 5397.00||Rs. 53970|
Comparison of 22 K & 24 K Gold Rates in Gurgaon
Historical Price of Gold Rate in Gurgaon
Gold Price in Gurgaon
Gold Price in Gurgaon (Gurugram) differs based on the purity that is calculated in Karat. Price of Gold in Gurgaon varies on the basis of weight, such as 1 gm, 2 gm, 4 gm, 8 gm etc.
22 Karat Gold
22 Karat gold is considered to be 91.67 percent pure. The remaining percentage comprises a mixture of various alloys such as silver, nickel, zinc, etc. 100 percent pure gold is too soft to be used for jewelry. Due to its soft nature, gold is not used in the making of studded jewelry.
Gold Investment Options in Gurgaon
Gold is the most sought-after metal in Gurgaon (Gurugram). Buying gold offers dual benefits. First, it is an ideal investment option. Second, it has a good resale value. Gurgaon is home to a large number of professionals. Demand for gold is high in Gurgaon because people in the city can afford to buy it. The residents of gurugram have the gold purchasing power. A few of the best gold investment options in Gurugram are mentioned below:
- Over-the-Counter - In Gurgaon (Gurugram), there is a plethora of jewelry shops specializing in the gold buying and selling at competitive rates. Individuals can buy gold in various forms, such as gold jewelry, gold coins, gold bars etc. For every purchase one makes, jewelers provide a certificate of authenticity that certify the purity of the gold that you’ve purchased.
- Web Portals - In Gurgaon (Gurugram), there is a wide range of web portals that deal in gold trading. These portals offer various ways of testing gold’s purity. Additionally, they provide the latest information related to the rate of gold in Gurgaon.
- Market Trade - Gold buyers can invest in gold ETFs and gold funds. These funds are traded on the stock exchange. In order to buy gold ETFs and gold funds, one needs to open a demat account. It is an easy and hassle-free method of gold trading, as an individual can buy gold from the comfort of their home in few seconds.
Individuals who are interested in buying gold ETFs and gold funds can check the updated gold rate in the city by simply searching the today gold rate Gurgaon on the Internet and get updated about the current gold rate in Gurgaon (Gurugram).
How to Detect Fake Gold at the Time of Purchasing Gold?
Here are the ways that can help an investor to differentiate fake gold and the real goal,
- Magnet Test: It is a simple test that can be done at home with minimal tools. Contrary to most metals, gold has no magnetic properties. A pure gold bullion bar, coin, jewellery or ornament will repel the magnet. If a gold bullion bar, coin, jewellery or ornament sticks to the magnet, chances are high that it is highly impure.
- Sound Test: Commonly, it is known as ‘ping’ test. It tells if the gold is pure or impure by its sound. When struck, precious metals such as gold make a long and high-pitched ringing sound. An individual can balance a gold coin on the end of his/her finger and tap it with another coin. The ringing sound generated by tapping will tell if the gold coin is pure or not.
- Weight and Size: Primarily, this test is for gold coins. It involves checking the weight and size of the gold coin. Gold coins are made as per specifications, which act as a parameter for testing the authenticity of the coin. A fake gold coin with the specified diameter and thickness would be lighter in weight.
- Nitric Acid Test: While this test is not a child’s play, it is a legit test that can cause permanent damage to the fake gold. Scientifically speaking, gold is resistant to oxidation & corrosion. As a result, pure gold will remain unaffected after coming into direct contact with the acid. For testing different carats, different strengths of acid are used. If an individual uses acid apt for testing 22-carat gold to test 24 carat gold, the results will be inaccurate.
- Ceramic Test: It is a quick & uncomplicated method of testing gold. When an individual draws a line across an unglazed ceramic plate by applying slight pressure, if there is a golden mark on the surface, the gold is pure. On the other hand, if the mark is black in color then it gold is highly impure or fake.
E-Gold in Gurgaon
True to its name, e-gold is the electronic form of gold that can be purchased online. It is a fairly new kind of investment plan. It is introduced by National Spot Exchange Limited in India. Similar to shares, e-gold can be purchased in the form of units.
Why is Gold Rate in Gurgaon Different from Other Cities?
Today Gold Rate in Gurgaon differs from gold in various cities of India. While (at times) the difference could be nominal, but there is a difference for real. The price difference is due to various internal as well as external factors. Some of these factors are mentioned below:
- Applicable Taxes - Gurgaon Gold Rate is affected by various taxes applicable exclusively in Gurgaon.
- Transportation Expenses - The cost of gold transportation affects gold price in Gurgaon today.
- Making Charges - Gold Rate Gurgaon varies because of the making charges.
- Octroi Charges - Gold rate in Gurgaon today is affected by octroi charges. It is a charge levied on various goods entering the city. Octroi charges levied on gold affect its price.
How Implementation Goods and Service Tax has Changed Gold Rate In Gurgaon?
While purchasing gold in Gurugram, the buyer has to pay applicable Goods and Service Tax on gold. In the event an investor earns a profit by trading gold, he/she has to pay the applicable capital gains tax. In case the gold purchase is above 30 Lakh Rupees, he/she has to pay wealth tax on gold. Before the implementation of GST, the total tax & duties imposed on gold in Gurgaon was approx. 12.4 percent. Now that GST is implemented, the total tax on gold price In Gurgaon (Gurugram) has hiked to approx. 14 percent.
How is the Demand for Gold Affected in Gurgaon?
Residents of Gurgaon (Gurugram) have a thing for gold. As a result, Gurgaon is becoming a hub of the gold market in India. The demand for gold in the city is generated typically by the consumption of gold jewelry and ornaments. The local gold market in Gurgaon is formed by the various small and large-scale gold dealers. In Gurgaon, the demand for gold is increasing with every passing day. Today gold rate in Gurgaon is inversely proportional to the market conditions as well as of the availability of the yellow metal.
What are the Key Factors that Gold Buyers Ought to Keep in Their Mind before Purchasing Gold in Gurgaon?
In case an investor aspires to purchase gold in Gurgaon (Gurugram), here are key factors that he/she ought to keep in his/her mind so that he/she is immune from any fraud/ cheating.
Points to keep in mind before buying gold jewellery or ornaments:
- Firstly, the buyer should check gold rate In Gurgaon (Gurugram).
- He/she should inquire about the rate at which making charges are levied. Different gold sellers levy different making charges. Ideally, the buyer should buy jewellery from the seller that levies the lowest making charges on gold.
Points to keep in mind after buying gold jewelry or ornaments
- The buyers must ensure that the purchased gold comes with a hallmark certificate.
- He/she must get a receipt for the purchased gold. This receipt is an important document, especially at the time of re-selling gold later on.
Importing Gold in Gurgaon
Importing gold in Gurgaon (Gurugram) is exclusively done by a few designated importers like banks. Banks sell gold to various dealers at a nominal margin so that they can recover the money spent on gold import. In turn, these dealers sell gold to various retail outlets, i.e. goldsmiths. After adding their profit margin, the goldsmiths fix the price of gold in Gurgaon (Gurugram).
Storing Gold in Gurgaon
Keeping the crime rate of Gurugram in mind, storing gold can be a little problematic for its residents. Majorly, people prefer to keep gold in a bank locker, as it offers high security. The locker charges are subject to the size of a locker. It is a feasible option for gold buyers to ensure its safety.
What is the Difference between Hallmarked Gold and KDM Gold?
Here are the differences between hallmarked gold and KDM gold.
Hallmark is the stamp of purity and a surefire way of ensuring that the quality of gold is optimum. Hallmarked gold is certified at Assaying Centers licensed by the BIS - Bureau of Indian Standards. Hallmarking is the certification on gold jewellery that assures that the gold is up to the mark set by the Bureau of Indian Standards. BIS is responsible for regulating the quality of consumer goods in our country.
In simple terms, hallmarking makes sure the metals alloyed with gold jewellery within the pre-specified limits.
The Seal of Hallmark
The seal of hallmark comprises the following 4 components.
- BIS logo
- Assaying center’s logo
- Purity in fineness and karat
- Retailer’s logo
KDM gold is known as Cadmium-soldered gold. It has cadmium which can be mixed in a ratio of 92 percent and 8 percent that ensures the purity of 92 percent. While KDM gold has been quite popular among the buyers, it is no longer sold because it causes ill-effects on health.
Why KDM is gold no longer is sold?
Soldering is the process of carving detailed designs on gold jewellery. In order to solder, the material having a lower melting point than gold is used. Traditionally, an alloy of copper & gold in the ratio 60 percent gold and 40 percent copper was used as the soldering material. The process added impurities in the gold; as a result, it is no longer used.
Factors That Influence Gold Price Today in Gurgaon (Gurugram)
There is a wide range of factors that affect gold rate today in Gurgaon (Gurugram). These reasons are a direct result of domestic as well as of international factors. Some factors are given below:
- Federal Reserve of US- In the international market, gold is purchased and sold in dollars. Any change in the actual value of dollar affects gold price Gurgaon. For example, if the Federal Reserve of US hikes interest rate even by a slight margin, gold price today Gurgaon (Gurugram) will be affected drastically. Additionally, Central banks of other key countries affect the gold rate. Though some of them have opted for quantitative easing, the scope of a major impact is rather small.
- Geopolitical Factors- Millions of investors can’t stop raving about gold being a safe haven. Typically, people invest in gold whenever there is any volatility. The reason behind market volatility is geopolitical concerns to a large extent. For instance, Lehman Brothers crash. It affected the world economy in no time. After the market crashed in 2008, gold rate hiked immediately.
- Local Factors- Gold rate in Gurgaon (Gurugram) is affected by various local factors such as the supply of gold. These local factors affect how gold will be priced.
Purchasing Gold in Gurgaon
Gold can be bought in Gurgaon from various retail outlets such as jewelry shops. Before purchasing, one must compare gold price today in Gurgaon to get the best deal possible.
Track Gold Rate Today in Gurgaon
There are so many ways to track gold rate today in Gurgaon. For instance, if one has a broking account, he/she can track gold future. It gives an indication of the potential change in the price of gold. Also, gold rates can be tracked through the Multi Commodity Exchange (MCX).
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