If you dwell in Vapi, make it a point to look into the gold rate in Vapi as it plays a pivotal role in determining the cost of gold. Adhere to BIS hallmarked gold regardless of the city you live in.
Gold rates have been a topic of conversation for Indian households for decades. In a country like India, gold is strongly associated with its traditions, culture and moments of celebrations. Once considered a precious piece of jewellery in a woman’s treasure trove, its meaning and significance have greatly evolved. Today, this metal is relied upon as a top investment option. This increased demand has created a huge market for gold products such as jewellery, coins and bars.
India is accountable for nearly 20-25 per cent of global gold consumption, which gives gold the status of a highly coveted commodity. While this growing demand has a bearing on the gold rates, multiple other factors cause the daily fluctuations that vary from city to city across India. Some of them include supply, demand and local market conditions.
Take a look at what influences the gold rate in India.
Inflation: Inflation is a critical determinant of gold prices. During long periods of inflation, people turn to gold as an ideal investment alternative. Because it acts as a hedging tool against price rises. In such times, the gold price goes up, making it a safe investment haven.
Consumption: The rise in income level is another factor that plays a role in the gold price. There is a direct relation between the per capita income and demand for gold. Every 1 % increase in per capita income pushes up its demand by 1%. During festivities and weddings, the gold demand surges as more people invest in gold in the form of jewellery, coins and bars.
Rupee-Dollar Equation: We have heard experts saying that the rupee-dollar equation affects the gold prices in India. But ever wondered why? Let us simplify it: India imports gold from around the world. If there is a fall in the value of the Indian rupee against the dollar, we witness a rise in gold rates. However, its demand in India decreases.
Market Volatility: It is not uncommon for many Indian households to park their funds in physical assets like gold to safeguard themselves against price movements and market risks. The demand for gold is constant, and hence, it is regarded as a trusted investment choice.
Every product at Angara undergoes a rigorous quality assessment to comply with industry standards. We assure you that top-notch quality jewellery makes its way to your heart and doorstep.
The varying gold rates across cities are due to transportation costs and taxation. However, we provide you with the best of the two worlds in terms of price and quality despite the gold rate fluctuations.
Given that gold is deeply connected with Indian culture, auspicious occasions like Diwali, Navratri, Gudi Padwa and Akshaya Tritiya are considered the best days to buy gold. This is also the time to take advantage of the deals and offers on making charges.
FAQs
1. What is the right time to buy gold in India?
Gold is a safe investment alternative in India. Before you buy gold, be sure to check, analyse and compare the costs of gold, also consider government regulations, interest rates, inflation rates, supply, demand, global market trends and currency fluctuations.
2. Why does the gold rate in India vary from city to city?
The change in gold price is influenced by factors such as supply, demand and prevailing local market conditions of a specific place on a particular day. However, the gold rate in India is affected by several external factors as well.
3. How is 22-karat different from 24-karat gold?
Karat is a term that defines the purity of gold. 24-karat gold is considered pure, i.e., it is made of 99.9% gold. However, 22-karat gold is composed of other metals including gold, making it comparatively more affordable than 24-karat gold.
4. Is the price of regular and hallmarked gold different?
The prices of regular and hallmarked gold are no different. However, hallmarked gold ensures quality and purity without any additional charges. Angara offers products that undergo methodical BIS-hallmarking processes to provide you with jewellery and gold coin that are authentic and competitively priced.
