Gold Rate In Major Cities

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Here’s how you can use the present gold rate in Himachal Pradesh to your advantage when buying gold. Gold in the year 2000 cost Rs 4,400/10 grams of gold. In 2010, this rate had jumped to Rs. 18,500. Do you know that what is today’s gold rate in Himachal Pradesh? Today’s gold rate in Himachal Pradesh is a whopping 49,010/10 gm of 24K gold! 

What is the Gold Rate Today in Himachal Pradesh?

The 22-carat gold rate in Himachal Pradesh today is Rs 4,579/gm of 22K gold. The 24-carat gold rate in Himachal Pradesh is Rs 4,808/gm of 24K gold as of 18th of October 2021.

Gold Rate in Himachal Pradesh For The Last 10 Days

Here’s how the 24-carat gold rate in Himachal Pradesh and the 22k gold rate today in Himachal Pradesh have performed over the last 10-days.

Date

10 Gram (22 K)

10 Gram (24 K)

17 October 2021

 

Rs. 45790

 

Rs. 48080

16 October 2021

 

Rs. 45790

 

Rs. 48080

15 October 2021

 

Rs. 46390

 

Rs. 48710

14 October 2021

 

Rs. 46290

 

Rs. 48600

13 October 2021

 

Rs. 45740

 

Rs. 48030

12 October 2021

 

Rs. 45490

 

Rs. 47760

11 October 2021

 

Rs. 45490

 

Rs. 47760

10 October 2021

 

Rs. 45490

 

Rs. 47760

9 October 2021

 

Rs. 45490

 

Rs. 47760

8 October 2021

 

Rs. 45490

 

Rs. 47760

 

Historical Prices of Gold Rate in Himachal Pradesh:

Here’s a peek at the gold rates over the last 3-months.  

Months

Lowest Price 24 Carat Gold Rs. Per 10 Grams

Highest Price 24 Carat Gold Rs. Per 10 Grams

September 2021

46,870

48,390

August 2021

47,190

51,320

July 2021

47,920

52,650

 

Factors Affecting the Gold Prices in Himachal Pradesh:

The rising today’s gold rate in Himachal Pradesh per gram can be because of many factors. Since March 2020, the gold rate in Himachal Pradesh has shown a steady rise over 90 days. Here’s why the gold rate today in Himachal Pradesh 22k has risen;

  • Government Gold Reserve - RBI holds gold reserves. When RBI buys or sells gold from the market, it affects the supply and prices change.
  • Investments in jewellery: The gold rate rises due to increased demand, especially during festivals and the wedding season when the demand surges by 50% nearly. As a result, when the demand and supply mismatch occurs, it increases gold prices.
  • Interest Rates: When the bank rates of interest decrease, people tend to buy gold and vice versa. The sudden increase in physical gold demand tends to decrease the interest rates.

Final Jewellery Prices

Various factors contribute to the final selling price. Jewellers consider the 18-carat gold is best suited for jewellery making as it is more malleable, ductile and harder with a fair resale price. Notably the rates followed are the IBJA or jewellers Association rates, which vary from the daily rates and are marked up with their margins, wastage charges etc.

The final jewellery price is equal to [Gold Weight in grams multiplied by the 18-carat gold rate in Himachal Pradesh plus wastage and making charges (5% GST) and 3% GST on the final price arrived at including cost, wastage, making charges etc.]. 

Gold Investments

There are plenty of modern options whereby you can invest in gold and get better returns. 

Take a look at your options.

  • Physical Gold: You can buy jewellery or bullion (coins/bars) at banks and stores at 916 gold rate in Himachal Pradesh.
  • Digital Gold: This is gold bought on the digital platform.  Platforms like Khatabook allow investors to start saving small and accumulating gold in an insured locker until maturity. 
  • SGBs or Gold Sovereign Bonds are government-backed bonds and have an 8-year term with 2.5% returns. They are like fixed deposits.

Why Investing in Gold is a Smart Choice:

People have always invested in gold. Gold is an integral part of Indian culture and tradition. Gold also gives you a better return than FD. This allows you to beat inflation and grow your wealth. Let's quickly understand how gold compares with other options of investment. 

Physical Gold

Gold Funds

Digital Gold

This investment is made in physical gold like bullion/jewellery at the gold rate today 22k in Gujarat

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 Gujarat 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.

 

The investment is in the exclusive fund from companies in gold mining. 

Gold funds add a nominal charge as fund management charges to the gold rate today in Gujarat.

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 the gold rate today in Gujarat live.  

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 916 gold rate in Gujarat

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 Gujarat 916 affects the price directly. 

Buy units of digital gold on the reputed platform of Khatabook.

 

 

Gold benefits and risks:

Gold investments score over other investments given below:

Factor

Gold

Bank Fixed Deposit

Risk Factor

It is vulnerable to being stolen and involves additional costs in insurance, storage etc.

FD is a low-risk option with a fixed term and low-interest rates are often unattractive during the recession.

 

ROI Analysis

If you make an annual buy of gold for 5 years, historical prices indicate a return earning of 18% CAGR.

FD’s interest rates are linked to the term and offer an annual rate of 5-6% with an additional 0.5% for senior citizens.

 

Premature Closure

Gold provides you with both early liquidation and gold loan options.

In contrast, there is a 1% penalty of the interest earned on the premature closure of an FD.

Liquidity

Gold is a high liquidity investment that is easy to sell. Digital gold units are exchangeable for physical gold,

Whereas, the liquidity of the FD depends on the bank’s discretion.

 

 

Necessary Checks When Buying Gold Jewellery:

Here’s what to check when buying jewellery or gold.

  • Verify the gold rates: If buying ornaments use the 22-carat gold rate in Himachal Pradesh found in financial magazines and newspapers.
  • Lookout for Wastage and Making Charges: The final price of jewellery in Himachal Pradesh is higher than today gold rate in Himachal Pradesh 916 and is calculated as the Final jewellery price= gold weight in grams multiplied by the day’s gold rate plus an approximate 10 to 20% in making and wastage charges plus the GST applicable at 3% of the purchase price.
  • Is the gold BIS Certified? The BIS certifies the purity of gold. Previously Cadmium gold ornaments bore a 22K gold mark and the jeweller mark. Kd gold has been banned as it is harmful to jewellers and goldsmiths.
  • Check the purity levels: Remember your selling price depends on the BIS mark and that alloyed gold has less pure gold in it. 
  • Check the purchase bill and the buy-back terms which decide the profit you make when selling or exchanging your gold.

Types of Gold

Pure Gold is 24K while gold in jewellery is generally 22K. 18K options of white and rose gold are trendy today in the jewellery segment and are closely tied to the 18-carat gold rate in Himachal Pradesh today.

Comparative chart for 22K, 24K and 18K Gold:

    24K Gold

22K Gold

18K Gold

99.94 gms to every 100gms of gold.

91.67 gms to every 100gms of gold.

75 gms to every 100gms of gold.

Yellow 

Yellow 

Depends on the alloy.  

Available as coins/bars. 

Available as coins, bars and ornaments.

Available as gold ornaments.

Used in making jewellery, for industrial purposes, and in medical measuring devices.

Used in gold ornaments making.

Used in gold ornaments making.

Most pure and expensive.

Lower purity and costs compared to 24k gold.

Lower purity and cost compared to 24 or 22K gold.

 

Digital Gold

Digital gold is a preferred investment today in Himachal Pradesh. Technological innovations have helped people here buy digital gold easily. For Example, platforms like Khatabook guarantee 24k gold units on the digital platform. 1 digital unit of gold means 1 gram of gold. You can store your gold in a digital insured locker till you need to have it delivered at home. 

Trading or selling Digital Gold

The process is extremely simple and is similar to opening a bank account online requiring you to be Indian, at least 18 years, KYC documents, a bank account and a PAN card.

Once you are online you have both sell and buy options and the gold rates of the day displayed. Just choose what and how much to buy, make a payment and it gets reflected in your account instantly. Further you can check your holdings and convert it to physical gold anytime. Ask for it to be home-delivered at nominal delivery charges. Besides they also have Gold Savings Plans wherein you can even channelize Rs 1/- saved to buy gold! All you need is a reputed platform like Khatabook on your mobile phone, internet and the urge to get the best returns on your investment.

Availing Gold loans

When in a financial crisis, your gold can come to your rescue. In Himachal Pradesh, the Himachal Pradesh Gramin Bank offers loans against gold. Its notable features are

  • The interest rate on the gold loan is 10.70% pa.
  • Preclosure charges apply at 0 to 2%
  • Additional charges levied are service charges, documentation charges, gold valuation charges etc.
  • Gold from 18 to 24K can be pledged as collateral.
  • The repayment period is up to 12 months.
  • The loan amount depends on today’s gold rate in Himachal Pradesh, the gold offered and income proof.
  • The eligibility age is from 18 to 70 years.
  • A default causes the auction of the gold items.

Where To Buy Gold in Himachal Pradesh

You can also buy jewellery online from reputed websites like Krishna Jewellers, Bluestone, Tanishq, Kalyan Jewellers etc. Himachal Pradesh has a choice of jewellery stores in its various major cities. Take your pick.

Jeweller

Location

Tangri Jewellers 

Shimla

Malhotra Jewellers

Dharamshala

Verma Sons Jewellers

Solan

Rattan Jewellers

Mandi

Himalayan Jewellers 

Manali

 

Final Words:

Gold is always a safe investment.  It acts as a safety net since you can sell or use it during a financial emergency. When buying gold, remember to track the metal, daily gold rates and foreign currency rates. Khatabook is an excellent platform to start investing in digital gold. You can use Net banking, UPI, Wallets etc., to make payments. Happy investing!

FAQs:

What is the gold rate today in Himachal Pradesh?

The 22-carat gold rate in Himachal Pradesh today is Rs 4,579/gm and the 24-carat gold rate in Himachal Pradesh is Rs 4,808/gm as of 18th October 2021.

How does import duty affect gold prices?

When the demand for gold is high and the import duties rise due to the fluctuating USD and rupee value, the gold rate in Himachal Pradesh today is directly affected and the selling prices rise.

How do supply and demand affect gold prices?

Higher the demand, higher is today’s gold rate in Himachal Pradesh since supply, mining and gold production is limited.

When are jewellery prices high?

In India, wedding seasons and religious festivals see a buying spree of gold, driving the gold rate today in Himachal Pradesh to new highs.

How do interest rates affect gold rates?

When investors fetch low returns on their investments due to low interest rates, they look to buy gold at the 22-carat gold rate in Himachal Pradesh today which goes up.

What is a secure investment during the current COVID 19 pandemic?

is one of the safest investments, especially during COVID 19.

When is the best time to invest in Gold?

It is preferable to buy gold when the gold rates are lower than the average gold rates for the period.

Is Digital Gold safe?

Yes, it is in digital format and stored in an insured locker.

Why was Cadmium gold banned?

Cadmium was previously used as an alloy in gold ornament making. It affects the goldsmith’s health and hence was banned when BIS was introduced.

Why do jeweller’s charge a different rate?

Jewellers sell gold at the daily gold rate announced by the Gold Dealer’s Association of a particular city. It may be the 916 rates or slightly higher.