Market rates influence the present gold rate in Vizag. However, buyers fail to neglect the making charges involved when purchasing gold jewellery. Most jewellers take a 15 to 20% cut of gold prices when making jewellery and the expenses can range from Rs 200 to Rs 400 per gram.
It is always best to ask sellers about their buyback policies when buying gold items to ensure you get genuine deals. Authentic gold jewellers have a reliable return policy which they offer to customers and in such cases, most buyers end up never coming back to resell what they bought. If you want to get assured deals, always go for hallmarked jewellery and buy based on the Indian Bullion and Jewelers Association (IBJA).
Today's Gold Rate in Visakhapatnam Per Gram (in INR)- last 10 days
|
Date |
10 Gram (22 K) |
10 Gram (24 K) |
|
24 April 2024 |
₹ 67000 |
₹ 70350 |
|
23 April 2024 |
₹ 68450 |
₹ 71870 |
|
22 April 2024 |
₹ 68900 |
₹ 72350 |
|
21 April 2024 |
₹ 68850 |
₹ 72290 |
|
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 |
The Historical Gold Rate in Visakhapatnam
|
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 |
Today’s Gold Rate in Visakhapatnam 916 is the same as the 22 Carat gold rate in Vizag today. 916 KDM is a term used to describe the purity of gold found in coins, ornaments and it is the percentage of gold found by dividing 22 Carat and 24 Carat. In other words, 916 KDM gold is 91.67% pure gold. Therefore, notable data for last 3 months are as follows:
Also Read: Steps to Calculate the Gold Price for Jewellery
Gold Investment Trends in Visakhapatnam
Gold prices tend to rise during festive seasons and auspicious occasions throughout the nation. In India, gold is a precious commodity that is considered an attractive investment option for families and business owners alike. Gold coins and ornaments have high value and the precious metal is known for its uncompromising durability, which means it doesn’t erode with time.
Gold lasts permanently and offers excellent financial liquidity with regards to sustainability in investment markets. Demand, supply and investment trends of gold depend on the state of the national economy, and global movements cause fluctuations in the price of gold in the Indian market. It has been seen in history that despite the worsening of economic conditions in the country and lockdowns caused by the pandemic, gold prices in Vizag continue to stay reliable.
How Much Demand Is There For Gold In Visakhapatnam?
Visakhapatnam is a port area and throughout the whole of South India, it experiences a high demand for gold jewellery and ornaments. Gold is the backbone of the economy in the state and families turn to gold investments since this precious metal is not affected by market fluctuations, unlike other forms of investments. The India Bullion and Jewelers Association Ltd. is responsible for announcing its latest gold rates online and updating its prices daily. According to a recent analysis, gold prices have remained unchanged in the last 10 days and haven’t experienced significant fluctuations.
How Do You Find Reliable Gold Suppliers In Visakhapatnam?
If you are buying gold from jewellery stores, you can be assured about the purity of the product since gold jewellers maintain high-quality standards. The gold investment scene in Vizag is very active and several businesses buy a few grams of gold every season.
The wedding season is when gold purchases are at the top of shopping lists and other popular times of the year for investing in gold products are Eid, Ugadi, Telugu New Year, Diwali and Christmas.
Gold Rate Fluctuations in Vizag
Gold rates in Vizag change every 2 to 3 days due to market fluctuations, and sometimes, prices may vary 2 to 3 times in a given day. This does not just apply to gold rates in Vizag but gold prices across India as a whole.
Also Read: What is Gold Standard and How Does it Work?
Gold price fluctuations in the nation are influenced by how auctions are conducted by the London Bullion Market Association (LBMA). These auctions help determine gold rates with accuracy at any time of the day. Dual rate changes in gold are not used as a rule by gold dealers and many jewellers prefer following single rate changes throughout the day. Some gold jewellery dealers quote the same rate throughout the week, and jewellers mentioned in the same neighbourhood may vary by a few rupees or an extremely low margin.
Top Gold Jewelers in Vizag
The best places to buy gold in Visakhapatnam are the prominent areas:
- VIP Road
- P&T Colony
- Sripuram
- Indira Nagar
- Asilmetta
- CMR Central Shopping Mall in Vizag (has an entire floor that is dedicated to selling gold jewellery, coins, and ornaments).
Top jewellery stores for buying gold in Vizag are brands like:
- Tanishq
- Kalyan Jewelers
- Manchukonda Gems and Jewellers
- Srinivasa Chaitanya Jewellers.
Visakhapatnam is a great hub to invest in gold as many jewellers craft gold ornaments using intricate designs. Most of the designs draw inspiration from cultural heritage and jewellery elements have carvings of animals, folklores, deities and ancient characters drawn on them. The rates offered by most jewellers in Visakhapatnam are accurate. Still, we always advise you to check the latest gold rate per gram in Visakhapatnam online from official sources before deciding to buy or sell your gold ornaments.
How Are These Rates Calculated?
The 22 Carat gold rate in Vizag today is calculated by considering various factors such as logistics, transportation, making charges, and by analyzing international market rates. The impurities added to 22k gold jewellery also influence the overall pricing and alter the pricing depending on the alloys used (platinum, silver, nickel, iron, etc.)
Finally, there are fees incurred as a result of security, business operations, and margins.
The 24 Carat gold rate in Visakhapatnam today is calculated based on rates determined by the top jewellers in Visakhapatnam and the Gold Association. To get an overview of live gold rates you can always visit gold showrooms or check live gold prices in Vizag listed online.
Also Read: What are the Smartest Ways to Invest in Digital Gold?
Gold Investment Options in Vizag
There are 3 popular gold investment options in Vizag:
- Jewellery - Buying gold jewellery in Vizag is one of the best ways to invest in gold. Traders often invest in gold when gold prices in the market are low and sell them when prices go high. Long-term gold investors follow the ideology of ‘buying and holding’ and transferring gold assets for future generations to profit from their investments.
- Gold coins and bars - Nationalised banks are the best places to buy gold coins and bars since they provide assay certification. You can buy gold coins and bars at differing weights ranging from 500 grams to 1 kilo or more. Gold coins and bars sold at these ventures are 99.99% pure gold and undergo strict quality checks.
- E-Gold - E-gold is a new concept where individuals buy ETFs in the stock market. Investors who are keeping an eye out on fluctuations in gold market prices often choose to invest in E-gold and trade daily.
Digital Gold- New Concept
The concept of e-gold or digital concept is presented in the form of an electronic certificate. Buying digital gold helps avoid unnecessary costs where the investor and company hold a balanced position in terms of the gold value. Moreover, digital gold is backed up by physical gold; therefore, it is highly feasible. You can use digital platforms like Khatabook to buy gold online without any hassle at all.
Platforms such as Khatabook are easy to use to select the amount of gold you want to purchase and pick a payment method of your choice. You can store it in a secured locker and buy more gold or sell it as per your choice. Its crucial takeaway is that you can receive the gold when you want to.
How to Buy Gold in Vizag?
When you’re buying gold in Vizag for the first time, it is essential to look at the current gold rate in Vizag and live price fluctuations in the market. Small variations in gold rates do not matter, but understanding the gold rate per gram in Visakhapatnam can make a big difference when you buy in larger quantities.
For example, if one gold dealer at Vizag is charging you Rs 28,800 for your gold ornament while another dealer sells the same ornament for Rs 28,850. The cost difference is Rs 50 in this case which may not seem like much.
But if you are buying 10 gold ornaments from the second jeweller, you are losing out by approximately Rs 500!
There are charges involved for making gold jewellery and this varies from one jeweller to the next. Thus, to get the best deals when buying gold, be sure to do your research and check today’s gold rate in Vizag based on market trends and rates provided by the Gold Association. Some of the best places to buy gold jewellery in Visakhapatnam are Lalitha Jewelry and Khazana Jewelry, where you can view today's gold rate in Visakhapatnam live. There are several showrooms throughout the city that you can visit in person and check live gold rates for 22 Carat and 24 Carat jewellery and compare them for your convenience.
|
Store/Chain |
Location(s) |
|
SVBC Gold |
VIP Road |
|
Vaibhav Jewelers |
V Square, Dwaraka Nagar, Gajuwaka |
|
Attica Gold Company |
Ramnagar, Sivalayam, Gopalapatnam, Ramatalkies Junction, Gajuwaka |
|
Khazana Jewellery |
Gajuwaka, Dwaraka Nagar |
|
N.V. Singariah and Sons |
Dwaraka Nagar |
|
Gayatri Jewellers |
Kurupam Market |
|
Saashri Jewelers |
Asilmetta |
|
Sri Venkateswara Jewelry |
Pedagantyada |
|
Manchukonda’s Shyam Zaveri |
Asilmetta |
You can also choose to buy gold online instead of visiting gold dealers and jewellery stores in person, in light of the COVID-19 pandemic and its associated risks. Buying gold online gives you the flexibility to compare market prices, see the fluctuations, and make smart investments. All it takes are a few clicks!
Conclusion
It is wise to track the live gold rates from authentic online sources when choosing to buy or sell gold in large quantities. The best way to make good investment decisions is to keep an eye on future gold rates in Vizag and not only look at 22K and 24K gold prices in Vizag based on today’s market analysis.
