Gold Rate In Major Cities

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A landlocked state in the North-East of India, Tripura is also known as one of the seven sisters of the Northeastern states. Home to about 19 tribes, this hilly state has a culturally rich heritage that includes gold as a symbol of wealth and prosperity. Laxmi puja is one of the major celebrations in the state and the deity is often seen with gold coins in her hand. Tripura’s significant cities are Dharmanagar, Kailashahar, Bishalgarh, Teliamura, Khovai and the capital city of Agartala. According to a major rural bank in Tripura, gold loans are one of the most popular services availed by the people in the state.

Gold is the best investment among metals. Gold has inflation-beating and high liquidity features, which makes it attractive to investors. So, let’s look at what makes gold such a good investment option at the present gold rate in Tripura?

What is the Gold Rate Today in Tripura?

The 22-carat gold rate in Tripura today as of 18th October 2021 is Rs 4,595/gm. The 24-carat gold rate in Tripura is Rs 4,825/gm.

Gold Rate in Tripura For The Last 10 Days

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

Date

10 Gram (22 K)

10 Gram (24 K)

17 October 2021

 

Rs. 45950

 

Rs. 48250

16 October 2021

 

Rs. 45950

 

Rs. 48250

15 October 2021

 

Rs. 46450

 

Rs. 48770

14 October 2021

 

Rs. 46450

 

Rs. 48770

13 October 2021

 

Rs. 45900

 

Rs. 48200

12 October 2021

 

Rs. 45900

 

Rs. 48200

11 October 2021

 

Rs. 45650

 

Rs. 47930

10 October 2021

 

Rs. 45650

 

Rs. 47930

9 October 2021

 

Rs. 45650

 

Rs. 47930

8 October 2021

 

Rs. 45650

 

Rs. 47930

 

Historical Prices of Gold Rate in Tripura

Take a peek at the 3-month 24-carat gold rate in Tripura price variations.

Months

Lowest Price 24 Carat Gold Rs. Per 10 Grams

Highest Price 24 Carat Gold Rs. Per 10 Grams

September 2021

47,040

48,560

August 2021

47,360

48,980

July 2021

47,920

52,650

 

Factors Affecting the Gold Rate in Tripura

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. 

 

Final Price of Jewellery 

Small jewellers determine their prices individually. After 12.5% customs duty and 3% GST is added to the gold prices per 10 grams, the jewellers in Tripura add a making charge to their ornaments. This is the final gold price that you pay when you purchase gold jewellery.

The final jewellery price = gold weight in grams x gold rate in Tripura today (22K or 18K gold) + Making charges (inclusive of 5% GST) + 3% GST  (the price of jewellery + making charges).

What is a Gold Loan?

Gold can raise up to 90% of its value as a secured loan in times of distress. In hard times, you needn’t sell your gold. Just avail of a gold loan. Banks, NBFCs etc., offer these loans at a reasonable interest rate. Take a look at the gold loan scheme operative in Tripura.

Tripura Gramin Bank Gold Loan

The only rural regional bank that operates in Tripura is Tripura Gramin Bank. There are eight districts in this state where this bank operates. This bank provides a variety of financial services, including Gold Loans, Personal Loans, and many others. Gold Loans are among the most popular services people of Tripura use. 

Features of Tripura Gramin Bank Gold Loan

  • Tripura Gramin Bank Gold Loan Interest Rate: 7%
  • Tripura Gramin Bank Maximum Loan Amount: Up to 50 Lakh
  • Tripura Gramin Bank Gold Repayment Tenure: Up to 36 months
  • Tripura Gramin Bank Gold Loan Rate Per Gram: Gold Rate in Tripura per gram. It is usually between Rs 3506 and Rs 4621 (as per current trends)
  • Tripura Gramin Bank Processing Fee: 0.75% of the Principal Amount

Advantages of Tripura Gramin Bank Gold Loan:

  1. Transparent System: The gold loan system is very transparent, so there are no hidden regulations
  2. No Debt Burden: If the applicant is not able to repay the loan amount due, the applicant will not be saddled with debt since the bank will only keep the ornaments, which is a loss. However, there will be no debt liability.
  3. Low Rate of Interest: Gold Loans have the lowest interest rate when compared to other loans.
  4. Advantage on the Rate of Interest for Farmers: Farmers who apply for gold loans are offered a rebate on the rate of interest.
  5. No Income Restrictions: A gold loan is available to people with any income level regardless of their salary or income range.
  6. Security of Assets: As one of the major benefits, the applicant does not have to worry about the safety of the ornaments since it is the bank's responsibility.
  7. Fast Process: As a secured loan, the Gold Loan from Tripura Gramin Bank is approved in as little a time as 30 minutes.
  8. Minimal Documents: The applicant has to provide very few documents to obtain a gold loan, making it a straightforward process.

Reasons for a Gold Investment

Its cultural significance aside, gold is a sound, long-term investment that can protect you against the market and currency fluctuations. There are various modern ways of investing in gold that can give you better returns. Being an anti-inflation asset the modern form of buying digital gold helps you save for the future. Gold itself is an asset that you can easily sell, buy and liquidate compared to other investments.

Gold requires little or no maintenance and in Tripura, it is a status symbol and is passed on from one generation to the other. The gold loan options and their steadily increasing prices should spread your portfolio risk better even during inflation. The best thing about gold is that its value is NEVER zero or negative!

Gold Investment Options

Today you can buy gold in a variety of methods. Take a look at your investment options                

 

Investment

Demat Account

Gold at Maturity

Gold Jewellery

Investment is made in buying gold bars/ coins/ ornaments.

Doesn’t need a Demat account.

The gold is yours to own from day 1 of purchase. 

Digital gold or E-Gold

 

Investment is made digitally and purchases units of pure gold/ ETF units.

No Demat account needed. Simple paperwork.

Gold is bought and owned in this electronic investment.

Gold Sovereign Bonds (SGBs) and FDs

 

Investment is made in a fixed-term bond or deposit earning a fixed rate of interest and for a fixed term.

No Demat account needed. Simple paperwork.

No gold is connected to the investment.

Gold stocks/shares in gold production /mining companies

 

Investment is made in company stocks involved in gold production and hence returns are dependent on company profits made.

Demat account needed.

Gold underpins the investment when they follow the fund structure.

Gold derivatives

 

Investment is made in larger quantities of gold traded on the stockmarket.

Demat account needed.

Gold is traded in and not owned in this investment.

Futures contracts

 

Investment is made for trading a fixed quantity of gold bought at present rates, at a future date on the stock market.

Demat account needed

Gold trading at a future date is involved.

Gold Commodity Trading

This investment in the stock market is involved in gold trading and needs specific market knowledge and expertise.

Demat account needed.

Gold trading only.

 

Comparative Analysis of Gold Investment Options

Below is a table to help you understand the benefits and risks of various gold investments:

Gold Investment Type

Benefits

Risks and Disadvantages

Physical Gold

  • Assurity of possession and minimum paperwork hassles.
  • Can be used for ornamental purposes if bought in the form of jewellery.
  • Hallmark or BIS Certificate of authentication is present.
  • No Demat account required
  • Theft
  • Additional making charges and GST@3%.
  • Loss during jewellery making.
  • Purity issues.
  • Proof of authentication is a must for selling.
  • Larger investment capital required.
  • Fluctuation in market prices.
  • SIP is generally not available.

Gold ETFs

  • No burden of trading in physical gold and no risk of theft, as the investor can keep it saved in their Demat accounts in paper form
  • Great for those interested in trading but not in shares.
  • Demat account required to trade
  • Paperwork and documents required
  • No SIP available
  • Changes in physical gold prices which affect ETF prices
  • Brokerage and asset management charges involved

Gold Funds

  • Investment is done in gold mining companies stocks.
  • SIP options available.
  • Cushions your investment from the actual gold price fluctuations.
  • No risk of theft or loss in transition.
  • Low investment capital required.
  • No need for a Demat account.
  • Good for those looking for high returns.
  • Paperwork required for trading
  • Charge to manage gold funds are involved

Digital Gold

  • No risk of theft since it is paper-gold till the time of delivery
  • Gold kept in insured vaults until it is delivered
  • Can be purchased in small amounts and fractions of 1 gm.
  • Transparency in pricing and no extra surcharge or making charges are involved
  • No insurance required since the gold is kept safe on your behalf
  • Can start investing with as small an amount as Rs 1/- on platforms like Khatabook.
  • The gold rate in Rajasthan 916 affects the price directly.
  • Requires a Demat account

 

Comparative Analysis of Gold Versus FD Investment Options

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

Risk Factor

Premature Closure

ROI Analysis

Liquidity

Gold is an asset effective against inflation and a fall in currency rates when included in the portfolio. However, it can be stolen and is hard to store safely. The added costs of making/ wastage charges, insurance etc are substantial.

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

If you buy gold regularly annually for 5 years, you can get 18% CAGR in returns. Digital gold allows you to buy fractions of a gram of pure gold and leverage both your savings and the day’s gold rates.

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

The FD on the other hand has no risks attached to it except the falling interest rates and a fixed tenure.

In contrast, the FD sudden closure is penalized with 1% of the interest earned. However, the FDs can also be used as collateral in times of financial distress.

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.

Whereas, the liquidity of the FD is dependent on the bank’s policy.

Necessary Checks When Buying Gold Jewellery

Since gold jewellery is the most prevalent kind of investment done across the country, here are a few things to keep in mind before investing your hard-earned money in it:

  • Check the purity levels: 24K gold rate in Tripura is the costliest variety of gold and its purity is certified in the hallmark. This mark has the jeweller logo, fineness, BIS mark, year of manufacture etc. The BIS-mark (Bureau of Indian Standards)certifies the actual purity of gold per 100 gms of pure gold. And has a direct bearing on the price you pay for ornaments which is normally the 22-carat gold rate in Tripura today.
  • Check the daily gold rates: It is important to check the 22k gold rate today in Tripura along with other levels of purity, which changes every day. Each day IBJA starts the trading day by announcing the gold price for the day. Local gold associations take that into consideration to determine gold rates in Tripura. You should buy 18K ornaments at the 18-carat gold rate in Tripura today plus a slight margin. 
  • Try Not to Sell: Usually, gold is bought with utmost care in Tripura since they are considered heirlooms and are passed on from one generation to another. However, sell only when you must and to the same store, you bought it from or avail a gram-to-gram exchange of your gold in the latest design at the prevailing gold rate today in Tripura.
  • Check the Wastage and Making Charges: All jewellers charge a making charge to offset labour costs associated with jewellery. In most cases, making charges are based on the current or today’s gold rate in Tripura (916) plus a charge of 7 to 25% depending on the design. Note that factory-made designs are not unique and hence cheaper than the intricate exclusive items.

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 an electronic form of owning gold in paper or digital format. The process is a technological improvement wherein even in pandemic times, you can buy gold units or fractions of a gold unit and have the gold stored in your very own Demat account and insured locker. There is zero risk of theft and in order to ensure no one gets to your account KYC documents are required for authentication. The account per se is like a bank account from where you can continue buying and adding units of gold or sell the units after 4 to 7 days if required. You can also ask for physical pure gold with hallmark certification to be door-delivered at home on the Khatabook platform.

Trading Digital Gold

Selling and buying is just a few clicks away on the Khatabook app on your mobile phone. Check your transaction history, sell from home, and use the nomination facilities and free locker insurance too! The steps involved are to log in, check the prices, hit the buy/sell tab, enter your requirement of gold and make a payment using a debit/ credit card, e-wallet or net banking. The gold is reflected in your locker near instantly.

Locations to Buy Gold in Tripura

Gold jewellery can be bought at today’s gold rate in  Tripuraacross its major cities with reputed jewellery stores like:

Jeweller

Location

Senco Gold & Diamonds

Agartala

Rajan Jewellers

Dharmanagar

Bijoy Krishna Jewellery

Teliamura

Tarun Jewellery

Kailasahar

Dhakeshwari Jewellers

Bishalgarh

Tip: Ensure your gold is BIS certified and check the day’s rate before buying.

Conclusion

Never rush into investments in gold. Do your research before you decide anything. Gold is an excellent hedge against inflation, and should be a part of your investment portfolio. Depending on your purpose and risk tolerance, always use authentic sources to track the gold rate in Tripura. Be smart and invest safely in digital gold using a trusted platform like Khatabook. Begin today, and happy investing! 

FAQ

What is the gold rate today in Tripura?

The 22-carat gold rate in Tripura today as of 18th October 2021 is Rs 4,595/gm and the 24-carat gold rate in Tripura is Rs 4,825/gm.

Can I buy physical gold online?

One can buy gold jewellery online through reputed platforms like Tanishq, Kalyan Jewellers, Caratlane, Bluestone etc.

What is the difference between fineness and purity of gold?

Both are the same. 24K is the purest form of gold. It is also available under the BIS certificate as 22K, 18K etc where the 22 K gold is 91.6 % fine and hence shown as BIS-916.

What is KDM gold?

KDM gold refers to cadmium soldered gold. It was mixed with gold to make jewellery. However, due to side effects, it is no longer used.

What does Hallmark represent in buying gold?

Hallmark refers to the 916 Hallmark certification from BIS (Bureau of Indian Standards)

What are the different varieties of gold?

The different varieties of gold according to their purity are 24K, 22K, 18K, 14K and 10K.

What happens if I make a payment and no gold is credited to my account?

Most platforms have a customer service address, telephone lines and a redressal system that quickly resolve this issue.

What would happen if the company closed down?

Your gold is still your own as the company has no hold on your gold. If such an event were to occur a Security Trustee will ensure the gold held in accounts is promptly returned and not attached as company assets.