Gold is known to man since time immemorial. The wearing of jewellery started when cave dwellers used adornments like flowers, leaves and slowly began fashioning jewellery from bones, teeth, ivory, leather, gemstones, gold or silver. Gold is popular in jewellery making as it is a shiny yellow metal that does not corrode easily. While 24 karat gold is not malleable, an alloy of gold is formed with Copper, and Nickel etc. caters to durable jewellery, which can be made by 22K, 18K, 14K, 10K gold etc.
What Is Today’s Gold Rate In Vijayawada?
Today's 24-carat gold rate in Vijayawada is ₹7235/gm of 24K gold as of 20th April 2024. The 22-carat gold rate in Vijayawada today is ₹6890/gm.
The 10-day Current Gold Rate In Vijayawada price Chart:
Given below are the gold rates over the last 10-days.
|
Date |
10 Gram (22 K) |
10 Gram (24 K) |
|
20 April 2024 |
₹ 68900 |
₹ 72350 |
|
19 April 2024 |
₹ 68350 |
₹ 71770 |
|
18 April 2024 |
₹ 68700 |
₹ 72140 |
|
17 April 2024 |
₹ 68700 |
₹ 72140 |
|
16 April 2024 |
₹ 67900 |
₹ 71300 |
|
15 April 2024 |
₹ 67800 |
₹ 71190 |
|
14 April 2024 |
₹ 67800 |
₹ 71190 |
|
13 April 2024 |
₹ 68050 |
₹ 71450 |
|
12 April 2024 |
₹ 67250 |
₹ 70610 |
|
11 April 2024 |
₹ 67050 |
₹ 70400 |
|
10 April 2024 |
₹ 66700 |
₹ 70040 |
Historical Prices of Gold Rates in Vijayawada
What is the gold rate today in Vijayawada? Today's gold rate in Vijayawada has shown periodic rises and falls, but a steady increase in prices if you refer to the chart showing the 24K gold rate in Vijayawada today performance over the last 3 months given below:
|
Months |
Lowest Price 24 Carat Gold Rs. Per 10 Grams |
Highest Price 24 Carat Gold Rs. Per 10 Grams |
|
July 2023 |
54,640 |
56,590 |
|
June 2023 |
54,430 |
56,670 |
|
May 2023 |
55,850 |
58,320 |
The best way to study the market when buying in the gold market is to avoid guesswork. It is important to evaluate today's price fluctuations in Vijayawada 916 for jewellery, assess factors that affect gold prices, etc., to help buy/sell gold.
Also Read: Steps to Calculate the Gold Price for Jewellery
Gold Investments Versus Other Investments
Vijayawada is home to several large, medium and small jewellers and gold dealers. These dealers deal exclusively with gold in jewellery and bullion. The gold rate today in Vijayawada live can be affected by several trends and factors. Festival times see a spurt in gold buying as it is considered auspicious to buy gold these days. People in Vijayawada tend to buy jewellery and gold ornaments at today's gold rate in Vijayawada and pass it down traditionally from generation to generation. With time, Digital/ Demat format Gold has also become popular here.
Let’s take a quick look at how digital gold and physical gold compare against each other in some crucial risk and performance factors.
|
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.
|
Understanding today’s gold rate in Vijayawada per gram
Most financial magazines provide gold rates. These are also available at the jewellery shops, in newspapers etc. It would be best if you also explored the following rates before investing.
- Gold rate news and predictions on reputed online sites like Khatabook can help predict the 916 gold rate in Vijayawada-movement, enabling maximized profit and the best gold rates.
- The Metal Rate is important to check for silver, copper etc., which impact today’s gold rate in GRT Vijayawada and are the alloy metals used with 24K gold to make it more malleable.
- The Rupee Vs US Dollar or Foreign Exchange rate fluctuates and impacts the exports and imports of our country. India imports gold in USD, and when this rate fluctuates, the import duties rise and push gold rate today in Vijayawada 22k up.
Also Read: What are Gold Exchange Traded Funds or Gold ETFs?
Gold Purchase Options Compared:
You can buy gold today at the gold rate today 22k in Vijayawada in various methods mentioned below.
Physical Gold: You can buy BIS-marked coins, gold bars etc., at the 22k gold rate today in Vijayawada at jewellery shops and banks.
Gold Sovereign Bonds- SGBs are government-backed bonds with an 8-year term and fixed returns of 2.5% and similar to fixed deposits.
Gold stocks/shares in gold production/mining companies depend on the company's profits and not on the gold rate.
ETFs and Mutual Funds investing in gold are a good option. ETFs are traded on the stock market. 1 ETF=1 gm of gold and can be traded in or exchanged for physical gold.
Futures and spot contracts are specific contracts that allow a futures investment for a fixed quantity of gold to be traded at a specified future date. Spot contracts lock in the strike rate for a period of time specified and use the live rates.
Derivatives and commodity trading of gold is risky and involves trading on the stock market.
Digital Gold is gold bought on a digital platform like Khatabook, which allow you to start saving small and accumulating it as physical gold in an insured locker till maturity. Your physical gold will be delivered to your doorstep in tamper-proof packaging.
Documents Needed When Investing In Gold:
- Physical gold requires no documents, brokerage or Demat account. Always keep the purchase receipt and BIS certification carefully to help to sell it. If you invest more than 2 lakh, you need the PAN Card, valid identification and address proof for the purchase.
- For ETFs and Digital Gold, you need to open a brokerage and Demat account with the seller firm.
- For SGBs, very little paperwork and no Demat account is involved.
- For mutual funds, a brokerage and Demat account are needed.
What Factors Affect Gold Rates?
The economic meltdown due to the pandemic has left investors searching for the perfect investment returns product. Gold is a haven for most investors compared to risky stock market assets. Gold prices and today’s gold rate in Vijayawada 916 are steadily rising due to the following factors.
- Market conditions push the gold prices up because of insufficient economic packages aiding economic recovery, global inflation, low-interest rates, dicey stock market returns and falling Indian currency rates due to the COVID-19 pandemic.
- Low supply, high demand position: Gold mining has stopped, and the international prices are up, driving the prices upwards.
- Increased export duties: Gold is bought by the government and RBI in USD converted to rupees. This means the final gold prices rise.
- Fluctuating currency rates: The exchange rate of the USD is fluctuating and the falling Rupee rate currently between 75 and 77 is sluggish, pushing gold prices up.
- High liquidity with investors: RBI’s policies for the flagging economy and low-interest rates converts to high liquidity with investors who see the stock market returns as risky.
- A global slowdown: The COVID-19 lockdown has a global impact on slowing economies which mean higher international gold prices catering to lesser production and higher gold prices.
- Various international skirmishes like the uptick in US-China tensions, the pandemic woes, globally slow economies and more push gold prices.
Also Read: Here are the 8 Most Famous Types of Gold
What To Check When Buying Gold?
Planning to invest in gold? Here are a few essential factors to check before trading or investing in gold.
- Purity levels: Pure 24K gold is not malleable and is mixed with small amounts of Copper. Thus one gets 23K, 22K, 18K, 10k, etc. 24K gold is 99.94 percent pure gold.
- BIS Certification: The Bureau of Indian standards-BIS certifies the purity of gold. The most popular 916 gold or 22k gold is 91.6% pure, or every 100gm of 22k gold has 91.6gm of pure gold like in it. Hence the popular rates are also called the 916 BIS rate in Vijayawada.
- The gold price/gram: Gold rates like the 22k, 24k rate, 18k gold rate in Vijayawada fluctuate daily and across locations.
- Buy-back terms: The buy-back rates are important when selling gold. Always check with your seller regarding buy-back conditions, prices and exchange of gold conditions when you wish to sell your gold.
- ETFs and digital gold are digital options that use the price momentum even with small regular investments.
Different Gold Types:
Pure Gold is 24K while gold in ornament form is generally 22K. 18K options of white and rose gold are extremely popular today. Let’s compare 24, 22 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. |
Why digital gold scores in Vijayawada?
Gold can be bought, sold, or traded electronically with a mobile phone, a good internet connection, and a reputed online platform like Khatabook.
Buying: Digital gold can be bought with small sums like Rs 10. You can sell it from home or even convert it to physical gold at will. The Khatabook digital platform allows you to buy 24k gold on the digital platform with small savings and investments. The steps required are to enter the gold, its type and weight in grams, select the payment mode, upload KYC verification documents, make a payment, and the digital gold is instantly reflected in your insured digital locker.
Selling: If you need to sell, check today’s gold rate in Vijayawada. All you need on the KhataBook platform is to enter the gold type and weight in grams before hitting the sell option. If you need to avail of a loan or sell without further hassles, you can request the home delivery of the physical gold with insured and tamper proof packaging.
Availing Gold loans: Your gold can be pledged as collateral to banks, NBFCs and other gold companies to raise 90% of its value as a secured loan in times of distress. A secured loan is offered with gold as the collateral and repaid with bank interest within a specified time. A default causes the lender to auction the gold pledged as the collateral.
Buying gold in Vijayawada:
Below is an easy list of some of the reputed jewellery stores and bullion stores in Vijayawada:
Dealer Name |
Location |
Address |
Attica Jewellers |
Vijayawada |
Andhra Bank Bldg, Swathi Theatre Rd |
|
Lalithaa Jewellers |
Vijayawada |
Opp. Siddartha Catering College |
|
Sree Sarada Jewellery |
Vijayawada |
Near OK Silks, Rajagopalachari Street |
|
Kalyani Jewellery |
Vijayawada |
Krishna Residency Bldg, Governorpet |
|
Sridevi Jewellers |
Vijayawada |
MG Road, Sriramnagar |
|
Anjaneya Jewellers |
Vijayawada |
MG Road, Venkateswarapuram, Labbipet |
You can also buy jewellery online from reputed websites like MMTC- PAMP’s Retail Center, Attica Gold Company, DP Gold, Malabar Gold, Tanishq, Kalyan Jewellers, etc. Vijayawada.
Conclusion
Gold investments are a great hedge against price rises and inflation. And since returns on investment are important, just investing in gold may not maximize your returns. Traditional methods have evolved and digital gold is now the best investment. Paper and digital gold cannot be stolen, can maximize returns and requires small investments while being easily bought using Khatabook, the world’s leading digital gold platform.
