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 ₹ 4,400/10 grams of gold. In 2010, this rate had jumped to ₹ 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 ₹ 6925/gm of 22K gold, and the 24-carat gold rate in Mizoram is ₹  7271/gm of 24K gold as of 19th April 2024. 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.

Historical Prices of  Gold Rate in Mizoram

Factors Affecting the Gold Prices in Mizoram

Here are the several factors affecting gold rates:

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. 

Gold vs FD comparison

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

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

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.

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!