Planning on buying gold jewellery? Gold is trendy in jewellery because it does not corrode easily. Though 24 karat gold is not malleable, the mixing of alloy metals like Copper, Nickel etc produces durable gold items in various purity forms like 22k, 18k, 14k, 10k gold. The longer you hold your gold, the better are the prices you fetch generally. No wonder people in Assam tend to use gold as a hedge against inflation and rising prices. Let’s look a little deeper into the buying of gold in Assam.

Gold Rate in Assam for Last 10 Days

22k gold rate today in Assam is ₹ 6785/gm as of today 26th April 2024 and 24K gold rate is ₹ 7124/gm.

Historical Gold Rates in Assam

Meanwhile, the current gold rate in Assam or today's gold rate in Assam has shown a steady increase in prices especially if you look at the fluctuations in the 24K gold rate today in Assam over the last 3 months depicted below. 

Tip: The best way to study and predict trends in the gold market is to study the prices of the gold rate in Assam today 916 over the last 3-months and 10-day fluctuations when buying gold jewellery. 

Why Gold Investments?

Now, why do people buy gold in Assam? As a tradition in Assam, people store and buy gold jewellery for festivals, weddings etc. Plus, the rate and prices of gold in Assam have steadily shot up over the last decade due to increased gold buying. A section of the gold- predictors hopes to see the 65k mark per 10 gm within the next 2 years. 

So what affects how gold deposits fare against other investments? Let’s compare the risks, ROI, closure/selling options and liquidity factors of gold versus the SGB.

Rates To Check To Determine The Gold Rate In Assam

You can check out today's gold rates in Assam easily available online, in newspapers and in financial magazines. Yes, gold rates fluctuate daily because they are affected by the changing values of the rates to check below. 

• Gold rate news - The GRT rates on reputed sites like Khatabook provide options that help one maximize the gold rates and leverage the daily fluctuations in gold rates.
• Alloy Prices - This rate is important to check since these metals are used as alloys and mixed with gold to make it less pure albeit much more malleable and stronger.
• The Rupee Vs US Dollar fluctuates daily too and impacts the imports duties of our country. RBI in India imports gold on behalf of the government and pays for it in USD. Hence when this rate fluctuates, the import costs rise and push today’s gold rate in Assam 916 up.

Gold Investment Options

Want to know how to leverage your gold buying options? Today gold can be bought in a variety of methods at the gold rate in Assam 916. Here are some options.

• Physical Gold: You can buy jewellery, coins/ gold bars at the 916 gold rate in Assam at banks, jewellery shops etc when you love physical gold.
• Digital Gold: However, this option of gold bought on the digital platform and sites like Khatabook allows you to leverage returns and maximize savings through digital gold purchases. A great advantage is that you can start saving small amounts and accumulate physical gold in an insured locker till maturity. Want to cash in, sell or take physical gold instead? Just make your online request for doorstep delivery in the form of coins and gold bars.  
• Sovereign Gold Bonds - These government-backed bonds are similar to bank FDs and have an 8-year term with 2.5% returns. 
• ETFs, Mutual Funds - These options are great since they are live prices and electronic gold which is stock-market dependent.1 ETF=1 gm of gold which can be easily traded in or exchanged for physical gold.
• Derivatives and trading in gold as a commodity at the current gold rate in Assam is quite risky and involves trading in gold in larger quantities and on the stock market.

Which Documents Are Needed When Investing In Gold? 

• Buying physical gold requires no documents, brokerage or a Demat account. Yet, the purchase receipt and BIS certification needs to be preserved for easy selling of the gold. 
• Investments in gold over Rs. 2 lakhs need you to produce a PAN card and address proof. 
• ETFs and Digital Gold in the electronic format as also Mutual Funds, SIP investments etc require the opening of a brokerage and a Demat account with the ETF seller firm.
• SGBs, FDs etc require very little paperwork and no Demat account.

What Factors Affect Gold Rates In Assam?

Why is buying gold attractive in Assam? Gold prices fluctuate daily but see a steady rise due to several factors affecting the 22 carat gold rate in Assam today. Here’s why the gold rate today 22k in Assam has risen:

• High demand, low supply position: The overall gold supply is limited and when gold mining is affected, the international gold prices increase, and the gold rate today in Assam also increases.
• Market conditions push the prices up: Increasing prices, inflation rates, global recession and more make the risky return rates of the stock market less attractive especially when there is no end to the COVID-19 pandemic woes and lockdowns.
• Fluctuating currency rates: Sluggish exchange rates of the USD and the falling Rupee rate drive the gold prices higher.
• Increase in international prices of gold: A number of global issues like the US-China tensions, pandemic lockdowns, slow global economies etc cause the rates for limited gold supplies to rise.

What To Check When Buying Gold In Assam?

Most people buy gold jewellery and here is what you should ensure each time you sell, trade or invest in gold in any form.

• Purity levels: 24K gold is soft and the closest to 99.94% pure gold. But, it is not malleable. To increase malleability, jewellers mix small amounts of alloys like Copper. Thus your options in purity are karat-dependent when you buy 22K, 18K, 10k, 14K gold.  
• Certification: The BIS or Bureau of Indian standards certifies gold purity. If you buy the popular 916 gold, it means that every 100gm of gold contains only 91.6gm of pure gold. 
• The price/gram of gold: The 24 carat gold rate in Assam fluctuates daily across the country making it essential to check today’s gold rate in Assam 916. 

Tip: Check out the Buy-back terms. When it comes to selling gold jewellery, you should leverage buy-back offers where you may get a gram-to-gram exchange offer!

Different Gold Types

How many differences do you know about the types of gold when it comes to buying gold? Did you know that Pure Gold is 24K, while gold in jewellery is generally 22K. But, the popular option in the US is 18K gold in white and rose gold for the jewellery segment. It’s hard to differentiate gold physically especially when the 18-carat gold rate in Assam today is very different from the 22 or 24K rates. Here’s how the gold varieties are different.

Differences in 22K Vs 24K Gold:

Digital Gold:

Today the best option to maximize your returns is digital gold.

Buying Digital gold 

From reputed websites like Khatabook, you can start buying gold at the day’s price with as little as Rs. 1! Trade, buy or sell it from home and even convert it to physical gold. 

Selling Digital gold

Selling is easy online and can be bought, sold or traded in the electronic format with a mobile phone, a good internet connection and a reliable platform like Khatabook. 

Look how easy the process gets!

• Enter the gold type and weight in grams. 
• Select the payment mode. 
• Upload KYC verification documents and make the payment. 
• The digital gold is instantly reflected in your insured digital locker. 

Tip: Need options? If you need to sell, check today’s gold rate in Assam. If you need to avail of a loan or sell without further hassles you can also request the home delivery of physical gold tamper-proof packaging.

Availing Gold loans

The Assam Gramin Vikash Bank is popular in Assam for gold loans. Some noteworthy features are given below.

• Gold and gold loans can help tide you over a financial crisis. 

• You can avail of a 75 to 90% secure short-term loan, if you pledge gold as collateral to banks, NBFCs and other gold companies. 

• It is repaid with bank interest of 7 to 13% and within a specified time of 6 months to 2 years typically.

• If you don’t pay back in time, the collateral gold is auctioned to recover the loan amount.

Where To Buy Gold In Assam?

Buying gold in Assam is easy if you want to buy jewellery online from reputed websites like Krishna Jewellers, Bluestone, Tanishq, Kalyan Jewellers etc. You can also choose to buy at jewellery stores closest to you from the list provided below.

Conclusion:

So popular is gold in Assam that the government offered physical gold incentives to couples registering marriages. However, storing gold to handing it down over generations or investing in gold alone may not fetch the expected returns. Modern-day options like digital gold are paper gold, cannot be stolen, require very little investment and can easily be bought at platforms like Khatabook.