Gold Rate In Major Cities

written by

Gold has always remained the investor’s choice of a commodity for its value and traditional Mizoram sentiment. Gold acts as a hedging instrument against deflation, inflation, falling rupee values, etc. Its value increases during times of political uncertainty and economic slowdowns.

Gold in the year 2000 cost Rs 4,400/10 grams of gold. In 2010, this rate had jumped to Rs. 18,500. The price of today’s gold rate in Mizoram is a whopping 48510/10 gm of 24K gold! Let’s take a look at the gold rate today in Mizoram.

What is the Gold Rate Today in Mizoram?

The 22-carat gold rate in Mizoram today is Rs 4,645/gm of 22K gold, and the 24-carat gold rate in Mizoram is Rs 4,887/gm of 24K gold as of 25th of November 2021. The rising today’s gold rate in Mizoram per gram can be attributed to a slew of factors.

Gold Rate in Mizoram For The Last 10 Days

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

Date

10 Gram (22 K)

10 Gram (24 K)

24 November 2021

 

Rs. 46450

 

Rs. 49140

23 November 2021

 

Rs. 46800

 

Rs. 49140

22 November 2021

 

Rs. 47500

 

Rs. 49880

21 November 2021

 

Rs. 47500

 

Rs. 49880

20 November 2021

 

Rs. 47500

 

Rs. 49880

19 November 2021

 

Rs. 47750

 

Rs. 50140

18 November 2021

 

Rs. 47750

 

Rs. 50140

17 November 2021

 

Rs. 47650

 

Rs. 50030

16 November 2021

 

Rs. 47900

 

Rs. 50300

15 November 2021

 

Rs. 47650

 

Rs. 50030

 

Historical Prices of  Gold Rate in Mizoram

Months

Lowest Price 24 Carat Gold Rs. Per 10 Grams

Highest Price 24 Carat Gold Rs. Per 10 Grams

October 2021

47,930

49,140

September 2021

47,040

48,560

August 2021

47,360

48,980

 

Factors Affecting the Gold Prices in Mizoram

Here are the several factors affecting gold rates:

Government Gold Reserves  

RBI holds the government gold reserves. When RBI buys more gold, gold prices rise due to an increase in the flow of cash in the market and a decrease in gold supply. 

Inflation 

As gold is compared to currency and holds significant value, it is used to hedge inflation. When inflation is high, demand for gold increases, and vice versa. 

Jewellery Market  

During festivals like Diwali, Akshaya Tritiya, and wedding seasons, the gold rate rises due to increased demand. As a result, when the demand-supply mismatch occurs, it leads to an increase in gold prices. 

Global Movement 

The rate of yellow metal is affected by any global movement in the gold rate. 

Interest rate trends  

With the increase in the rate of interest, people tend to sell gold to get cash. An increased supply of yellow metal leads to decreased rates. However, lower the interest rates; more money in the pockets of customers. Higher the demand and increase in rates of the metal. 

 

Gold Investments Explained

Let’s learn about the choices of investing in gold. You can buy gold today in a variety of methods. Take a look at your options.

  • Physical Gold: You can buy jewellery or bullion (coins/bars) at the 916 gold rate in Mizoram at jewellery shops, banks etc.
  • Digital Gold: This is gold in digital form. Platforms like Khatabook allow you to invest in digital gold. You can start saving small and keep accumulating gold in an insured locker till maturity. You can exchange the certificate for physical gold that Khatabook will deliver to your doorstep in tamper-proof packaging. 
  • SGBs or Gold Sovereign Bonds: They are government-backed bonds and have an 8-year term with 2.5% returns. They are like fixed deposits.

Final Gold Price

Gold rates vary depending on multiple factors, and the final selling price may differ from one jeweller to another. It depends mainly on the gold type, wastage charges, making charges, and the tax applicable. 

The final jewellery price can be arrived at using this formula- 

The final jewellery price is equal to Gold Weight in grams multiplied by the gold rate in Mizoram today plus Wastage and Making charges and 3% GST on the final price arrived at including cost, wastage, making charges etc.

What Documents are Needed When Investing in Gold?

  • Physical gold purchase requires no documents, brokerage or Demat account. However, keep the purchase receipt and BIS certification safe. 
  • For an investment of  Rs. 2 lakhs or more, you need the PAN Card and address proof.
  • For Gold ETFs, you are required to open a brokerage account and a Demat account with the ETF seller firm.
  • For SGBs, digital gold etc., very little paperwork and no Demat account are involved.

Why Investing in Gold is a Smart Choice

Let's understand how Gold compares with other investments. 

Physical Gold

Digital Gold and ETFs

Gold Funds

You buy physical gold Ex: gold bars, coins, jewellery, etc.

You buy online pure gold units and ETFs.

You buy into a fund where the fund is invested in companies in gold mining. 

No Demat account is needed to buy physical gold.

The seller helps you set up a Demat account online. 

A Demat account is not needed to invest in these gold funds.

You pay for what you buy which is GST, wastage, making charges and the weight of gold at the gold rate today 22k in Kerala.

You pay small brokerage fees, asset management charges, and store your gold bought at the gold rate today in Kerala in your account digitally.

You pay fund management charges and get physical gold at the gold rate in Kerala 916 when you liquidate it.

Physical gold is hard to store, vulnerable to theft and incurs insurance charges to protect it.

Digital gold is gold in electronic form and in your account in an insured vault.

Gold funds, too, are paper gold and suffer no risk from burglary/theft.

Just-buy ornaments are readily available.

Simple paperwork when investing is done by the seller firm.

Paperwork is essential and the certificate is important when investing.

You should maintain the purchase receipt.

You keep adding to your insured vault till delivery.

You need to hold the online/offline fund certificate till maturity.

Daily gold rate today in Kerala 22k fluctuates. 

Today's gold rate in Kerala live affects the prices. Learn all about digital gold at Khatabook.

The company stock profits decide the quantity of gold paid out at the 916 gold rate in Kerala.  

 

Gold vs FD comparison

Here’s the performance comparison of Gold and Fixed Deposits.

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: Gold rates vary daily, across locations and even by the moment on the stock market. Before investing do take a look at the 22-carat gold rate in Mizoram and the IBJA rate ornaments.
  • Wastage and Making Charges: The final price of jewellery in Mizoram is marked higher than today’s gold rate in Mizoram 916 since wastage and making charges (7 to 25%), stone weight and GST at 3% can increase your final price. Check and compare with other jewellery stores before you buy.
  • Ensure Hallmark or BIS Certification: The BIS or Bureau of Indian standards certifies the purity of gold. The Hallmark is a sign of gold quality and also bears the 22K BIS-916 hallmark and the company logo on the ornament. 
  • Check the purity levels: The alloy in gold fetches zero value. 24K gold is 99.94% pure. However, it is not malleable and needs the addition of Copper, Silver etc. The alloyed gold has less pure gold in it, with choices like 22K, 18K, 14K, 10K etc. 
  • Check the purchase bill, and buy-back terms: This is important when you need to sell your gold and the buy-back rates decide the profit you make.

Types of Gold

Pure Gold is 24K while gold used in jewellery is generally 22K. 18K options of white and rose gold are trendy now in the jewellery segment and are closely tied to the18-carat gold rate in Mizoram 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 new and modern online method of procuring gold. Introduced in 2017, it is a preferred investment today in Mizoram especially among the tech-savvy investors looking to leverage their savings and the day’s rate of gold. With Digital gold you can start buying fractions of a pure gold gram or unit from 0.10 gm. with as little as Rs 1. You can also sell it from home or trade it in for gold ornaments. Platforms like  Khatabook offer digital gold and store your owned gold in your own secure account and an insured digital locker till encashment. 

Features of Digital Gold

  • You can either specify the digital gold weight you want to buy or the amount of money you wish to invest on any of the portals.
  • Several mobile e-wallets allow you to buy digital gold. At present, digital gold is offered in India by Khatabook and a few other players. 
  • You can check your accumulated gold by visiting the transaction history page or requesting a paper quarterly account statement too.
  • In case of any discrepancy, reach out to their customer service who will resolve your issues.
  • You can sell the digital gold that you have bought in exchange for liquid cash 2 days after buying it. You can also redeem your investment by obtaining the gold in its physical form and get it delivered to you at your home for a nominal charge. 

Buying/Selling Digital Gold

The process involved in buying or selling digital gold online is extremely simple and has minimum paperwork. You just need to go online to the Khatabook digital platform, and use the buy/sell option, enter your requirement, verify your details and make/ receive a payment. When converting it to physical gold, choose bars, coins or gold ornaments which will be delivered to your address in a tamper-proof package.

Availing Gold Loans:

Distressing times call for cash at short notice. Physical gold ornaments can fetch you a short term bank loan of upto 90% of the gold value. This loan is to be repaid with bank interest (10 to 13%) within the specified time. This means you never lose your gold and can redeem your gold when you tide over your emergency situation. Beware non-repayment can cause an auction of the gold collateral.

In Mizoram, the Mizoram Rural Bank Gold Loan scheme is popular. Here are its important features. 

  • The Interest Rate is 7% pa for smaller loan amounts.
  • The tenure of repayment is 1 to 4 years.
  • Pre-closure charges are applicable and may range up to 2% of the loan amount.

Where to Buy Gold in Mizoram?

You can buy gold jewellery across Mizoram in its major cities. Mizoram has a good choice of jewellery stores. Take your pick.

Jeweller

  Location

Carat Lane- Dawrpui

Aizawl

N&SS Jewellers

Lunglei

Tanishq

Champhai

Sunrise Jewellers

Serchhip

Final Words:

Though the short term returns on gold are volatile, gold is an integral part of the culture of Mizoram. It is also seen as a great safety net and a must-have for all diversified investment portfolios. You will need to track the metal rates, daily gold rates and foreign currency rates since these have a bearing on your gold investment. Choosing the investment option is a matter of the right choices. It also helps with risk tolerance when building your investment portfolio. Happy investing!

FAQ

What is the gold rate today in Mizoram?

The 22-carat gold rate in Mizoram today is Rs 4,645/gm of 22K gold and the 24-carat gold rate in Mizoram is Rs 4,877/gm of 24K gold as of 25th November 2021.

Are ETFs better than SGBs as an investment?

Sovereign gold bonds pay 2.5% interest additionally. However, they have an 8-year term with a 5-year term for premature withdrawal and are not ideal as short term instruments for hedging. ETFs are easily liquidated, regulated by the SEBI and probably better than SGBs for gold investments.

When does gold investment come under the SEBI?

If you invest in gold then all transactions above the two lakh limit in digital transactions need SEBI compliance.

Does 18K rose gold have less gold than 18K gold?

18k jewellery whether rose, yellow or white means less resale value and always has the same gold content irrespective of colour. 18K gold has 75% gold and 25% alloy in it.

What are the disadvantages of digital gold?

Digital gold purchases have a limit of Rs.2 lakhs/investment and are not regulated by the SEBI or RBI below this limit. Remember that making charges etc are applicable when converting digital gold to physical gold. Also, some firms may have limited storage periods.

What is 916 gold?

It refers to the BIS (Bureau of Indian Standards) certified 916 gold and means that the gold is 91.6% pure.

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

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

What is the easiest way to find the gold rate?

You can find gold rates on online platforms like Khatabook.