Are you thinking of buying gold as an investment at the current gold rate in Goa? From ancient times the lure of gold has held the human civilisation captive even to date in this modern era. The gold rate today in Goa makes the portfolio risk factor less. But before considering investing in gold, there is a lot of information one must study. 

What is the Gold Rate Today in Goa?

The current gold rate in Goa as of 23rd November 2024, or the 22-carat gold rate in Goa today, is ₹ today_goldrate_22k/gm and the 24-carat gold rate in Goa is ₹ today_goldrate_24k/gm of 24K gold.

Gold Rate in Goa For the Past 10 Days

Here’s how gold has fared over the last 10 days.

Historical Prices of Gold Rate Today in Goa

Factors Affecting the Gold Rate in Goa:

What is today’s gold rate in Goa? Imagine investing Rs 4,000 in 10 gm of gold in the year 2000 at the then-current gold rate in Goa of Rs. 4,400 or holding Rs 4,000. Today, this amount in currency can buy you just less than 1gm of gold. The investment over the long term has grown while the value of Rs 4,000 has decreased.

Here are the factors that affect the gold rate today in Goa.

• Import Duty: The demand for gold in Goa is high. It causes a change in the import duties affecting the gold rate in Goa today, 
• Demand and Supply: Higher demand increases the gold rate in Goa. Lower availability of gold will also increase the gold rates in Goa.
• Investments in jewellery: Wedding seasons and festivals see a buying spree of gold. It increases the gold rate in Goa.
• Interest Rates: When interest rates are low, investors buy gold. 
• Inflation: When economies slow down, the inflation index rises and change the gold rate in Goa.
• Currency Fluctuations: When the USD fluctuates, the value of the Rupee changes and also affects the gold rates in Goa.
• Government Reserves:  The prices and gold rates in Goa also depends on the quantity of gold traded by the Government.

Also Read: Steps to Calculate the Gold Price for Jewellery

Gold Rate Today in Goa and the Cost of Jewellery: 

Gold rates differ across jewellers because their selling rates are fixed on a daily basis by the Gold Dealer’s Association. The final price of gold jewellery is equal to [Gold Weight in grams multiplied by the 22K today gold rate in Goa or18-carat gold rate in Goa today plus wastage and making charges 3% GST on the final price]. 

Gold Investment Options

Gold is a long term investment asset. But if you wish to have better returns, try the modern gold investment options. Take a look at the table below to compare options.

Comparative Analysis of Gold Investment Options

Let's quickly understand how gold investments compare with digital gold and the mutual funds investing in gold. 

Physical Gold: This investment is made in physical gold like bullion/jewellery. The charges levied are the equivalent of the price, making charges and GST. The rate of physical gold is quoted as gold rate today in Goa 22k, and it carries the risk of burglary and insurance charges. It has no paperwork hassles, though its BIS certification and purchase receipt are essential when selling.

Gold Funds: The investment is in the exclusive fund from companies in gold mining. Gold funds add a nominal charge as fund management charges to the 916 gold rates in Goa today. The paper gold suffers no risk of theft. These require paperwork when investing, and the fund certificate is needed when trading it in at the maturity value. Gold funds are dependent on the profits made by the gold mining company and not today’s gold rate in Goa 916.  

Digital Gold: The investment is made digitally and can be of any value accumulating units of gold, where 1 unit=1 gm of physical gold. It includes brokerage fees, asset management charges, and physical gold cost at the gold rate today in Goa. It has no risk of theft since it is paper- gold till the time of delivery. The paperwork is simple, and gold is kept in insured vaults until it is delivered. The gold rate in Goa 916 affects the price directly.

Comparative Analysis of Gold Versus FD Investment Options

Here’s the performance comparison of gold investments versus FDs.                                               

Important Factors When Buying Gold Jewellery

Are you planning to buy jewellery at today gold rate in Goa 916? Here’s what to check.

• Purity levels: 24K gold is the purest form of gold available though it is only 99.94% pure. The choices of buying are 22K, 18K, 10K, 14K gold etc.
• BIS Certification: The BIS or Bureau of Indian standards certifies the purity of gold. The most popular 22K or 916 gold means that every 100gm of gold contains 91.6gm of pure 24k gold and is the benchmark for gold jewellery quoted at the 22-carat gold rate in Goa today.
• Buy-back terms: The buy-back terms are important. Many jewellery shops assure customers of buyback facilities at the prevailing gold rate today 22k in Goa and exchange of jewellery in gold on a gram-to-gram basis less the wastage charges.
• Know your gold: Gold jewellery is generally 22K. Note that white and rose gold prices may be higher than the daily gold rates due to processing and making charges. 
• Wastage and Making Charges: It can be in the range of 10 to 20% plus the GST applicable at 3% of the purchase price over and above today gold rate in Goa 916.

Also Read: What is Gold Standard and How Does it Work?

Types of Gold

Pure Gold is 24K, while gold jewellery is generally 22K or18K.

Comparative Chart for 22K, 24K and 18K Gold

Buying Digital Gold in Goa

Digital gold is a technologically superior way and a preferred investment today in Goa.

The best features of Digital gold are

• Digital gold is also offered in fractions of gold units or grams and the Khatabook platform’s Gold Savings Plan with a fixed term, helps channelize small savings into digital gold purchases.
• You can use any mobile e-wallet, debit/credit card, internet banking etc to make your payments.
•  Buying or selling the digital gold is as easy as selecting the right tab, checking the day’s rate and making a digital payment.
•  Gold you own is stored in your very own demat account and insured vault till you use it.
• You can sell or ask for home-delivery of your gold 2 days after you buy it. Of course delivery charges apply, though transit insurance is free!

Also Read: What are the Smartest Ways to Invest in Digital Gold?

 Trading Digital Gold

You can sell digital gold from home or even convert it to physical gold at will. All you need to do is enter the weight of the gold and choose the sell option using your mobile phone. You can convert it to physical gold by ordering gold jewellery with just a few clicks on the phone. Khatabook delivers your accumulated gold at your address in tamper-proof packaging.

What is a Gold Loan?

Features of the gold loan from Goa State Cooperative Bank Ltd. are as below.

• You must be Indian and at least 18 years old.
• 70 to 90 % of the today’s gold rate in Goa will be the maximum loan amount offered on a case to case basis.
• Gold must be at least 18K to pledge it
• Gold valuation is done by the bank and charges apply.
• Stone weight is not accepted for loaning amounts.
• The gold is treated as a collateral and a default in repayment causes the bank to auction the gold.
• For non-agricultural uses the tenure is 12 months. In rural areas, it may go up to 36 months.
• Income proof has to be submitted.
• Processing, prepayment penalty and late payment penalties are applicable.

Thus one can see that physical gold, jewellery etc., can help tide over bad times without diluting your gold holding. Digital gold will need to be converted to physical gold before being used for loan purposes.

Locations to Buy Gold in Goa

Gold jewellery can be bought across different locations in Goa, such as:

The Bottom Line:

Gold investors, both large and small, have direct risk exposure to the daily prices of gold. The risk tolerance levels and the gold rate in Goa generally determine the choice of buying options. In short, it is best to have a portion of the portfolio in gold. Invest safely in digital gold using a trusted platform like Khatabook.