The Gold price today in Guwahati is dependent on different national and international market factors, unlike elsewhere.
The most significant concern when buying Gold in India or elsewhere should be purity. To assist with it, the Bureau of Indian Standards has set some limits on mixing other alloys with Gold so that it remains pure. It has a hallmarking scheme that helps to assess gold quality. Let us have a look-
i) BIS triangular stamp.
ii) BIS hallmarking center logo.
iii) BIS certification.
Hallmarked gold jewelry comes in three grades-
– 22K916 = 22K
-18K750 = 18K
– 14K585 = 14K.
Gold Price Today in Guwahati – 19 October, 2022
Planning on buying gold jewelry? There is a long history of trading and investing in Gold by Indians.
In jewelry, Gold is modish because it does not rust easily. Gold is a good investment option for consumers looking for steady and long-term returns. Gold is a precious commodity.
Assam is a state which has a rich cultural heritage, and it is also famous for its tea across the world. The state is known for its rich tradition of manufacturing hand-made gold jewelry, dating back centuries. It is also said that Gold was found flowing down the Himalayan River waters, and therefore Gold was available in abundance in Assam.
The ornaments from Assam are unique as they portray various treasures of the region, the flora and fauna. As it is an excellent part of the culture, it is close to the hearts of the people of Assam.
Like other parts of India, gold rates fluctuate per the prevailing economic conditions, which are affected by the global market. The fluctuation of the price of Gold depends on a wide range of factors, but the current strength is the US Dollar, along with seasonal demand in the country.
Let us take you to multiple ways of investing in Gold
i) Investing in Gold Coins or Bars – An investment in gold coins or bars is more satisfactory as one can save on the applied making charges, unlike jewelry. Always prefer reliable jewelers or banks to buy gold bars or coins, and don’t forget to check on the hallmark.
ii) Buying Jewellery – The historic traditional method of investing is in the form of jewelry or ornaments. However, people also prefer other options such as demat forms (Gold Sovereign Bonds or Gold ETFs) when they want to save on making charges.
iii) Gold ETF: Gold Exchange Traded Fund is a type of mutual fund investing in Gold, and the units of this mutual fund scheme are listed on the stock exchange.
24 karat gold is not malleable. Mixing any alloy metals such as Copper, Nickel etc. makes Gold highly durable, and its different purity forms are 22k, 18k, 14k, and 10k Gold. One can fetch a better price when one can hold on to Gold as long as possible. People in Assam use Gold as a barrier against price hikes and inflation.
Let us first have a look at the selling of Gold.
Gold can be quickly and smoothly redeemed for cash, whether you choose to sell it, as being highly liquid. If one wants to sell Gold at the same jewelry shop where you bought it from, one must have to keep the bill/invoice intact. It will also allow us to avoid any confusion or suspicion regarding the purity of the metal and ensure a smoother transaction.
Let us look a little deeper into buying Gold in Assam.
Assam is one of the most prosperous states in the Northeast, providing several business and investment opportunities. Guwahati is the heart of the state and is home to all small and large-scale gold dealers. These dealers exclusively deal with Gold in both solid forms and also in the form of ornament. People of Assam mostly prefer buying Gold in coins, ingots, jewelry, and Demat format.
Factors affecting the price rate of Gold, both domestically and internationally-
Government Gold Reserves: Central back of many countries, like RBI, owns both gold reserves and currency as every rupee must be backed up by Gold. An increasing inflow of cash in the market indicates an increase in their gold reserves which accordingly affects the pricing of Gold.
Inflation: Market fluctuations hold significant value to offset inflation. Therefore, the demand for gold increases resulting in price hikes. This holds good domestic and international inflation.
Jewellery Market: Gold ornaments are an inevitable part of Indian culture and fashion, especially during festive and wedding seasons leading to its increasing demand and supply.
How to measure Gold
Gold is measured in troy ounces, where 1 troy ounce = 31.1034768 grams, meanwhile Karat represents the purity of Gold, and according to it 24 K = 99.9% pure, 22 K = 91.6% pure, 18 K = 75% pure, making it distinguish between each other.
However, in terms of weight, tola is a commonly used term. The tola is a traditional Ancient Indian and South Asian unit of mass. One tola gold, currently, is equivalent to almost 10 grams of Gold. The weight of one tola today is standardized to 180 troy ounces grains, indicating it to be 11.6638038 grams or equal to 3/8 troy ounce. According to a survey of 2021, Hongkong is the cheapest place to buy