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 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 ₹ 7125/gm of 22K gold. The 24-carat gold rate in Himachal Pradesh is ₹ 7481//gm of 24K gold as of 11th October 2024.
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) |
11 October 2024 |
₹ 71250 |
₹ 74810 |
10 October 2024 |
₹ 71300 |
₹ 74870 |
09 October 2024 |
₹ 72200 |
₹ 75810 |
08 October 2024 |
₹ 72200 |
₹ 75810 |
07 October 2024 |
₹ 72200 |
₹ 75810 |
06 October 2024 |
₹ 72200 |
₹ 75810 |
05 October 2024 |
₹ 72200 |
₹ 75810 |
04 October 2024 |
₹ 72000 |
₹ 75600 |
03 October 2024 |
₹ 72000 |
₹ 75600 |
02 October 2024 |
₹ 71500 |
₹ 75080 |
01 October 2024 |
₹ 71950 |
₹ 75550 |
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 |
August 2023 |
56,310 |
57,800 |
June 2023 |
56,070 |
58,380 |
May 2023 |
57,530 |
60,080 |
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.].
Also Read: Steps to Calculate the Gold Price for Jewellery
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.
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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.
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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.
|
Also Read: What is Gold Standard and How Does it Work?
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. |
Also Read: What are the Smartest Ways to Invest in Digital 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!