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Gold Rate in Vijayawada (28th March 2017)

Vijayawada is among the top cities in Andhra Pradesh and is an important destination to buy and sell gold in the state. Jewellers in the city offer some of the best patters and designs across India.

Today 22 Carat Gold Price Per Gram in Vijayawada (INR)

Gram 22 Carat Gold
Today
22 Carat Gold
Yesterday
Daily Price Change
1 gram ₹ 2,786 ₹ 2,785 ₹ 1
8 gram ₹ 22,288 ₹ 22,280 ₹ 8
10 gram ₹ 27,860 ₹ 27,850 ₹ 10
100 gram ₹ 2,78,600 ₹ 2,78,500 ₹ 100

Today 24 Carat Gold Rate Per Gram in Vijayawada (INR)

Gram 24 Carat Gold
Today
24 Carat Gold
Yesterday
Daily Price Change
1 gram ₹ 2,971.50 ₹ 3,046.10 ₹ -74.60
8 gram ₹ 23,772 ₹ 24,368.80 ₹ -596.80
10 gram ₹ 29,715 ₹ 30,461 ₹ -746
100 gram ₹ 2,97,150 ₹ 3,04,610 ₹ -7,460

Gold Rate in Vijayawada for Last 10 Days (10 g)

Date 22 Carat 24 Carat
Mar 28, 2017 ₹ 27,860 ₹ 29,715
Mar 27, 2017 ₹ 27,850 ₹ 30,461
Mar 25, 2017 ₹ 27,719 ₹ 29,571
Mar 24, 2017 ₹ 27,796 ₹ 29,654
Mar 23, 2017 ₹ 27,838 ₹ 29,692
Mar 22, 2017 ₹ 27,418 ₹ 29,273
Mar 21, 2017 ₹ 27,910 ₹ 29,990
Mar 18, 2017 ₹ 27,415 ₹ 29,265
Mar 17, 2017 ₹ 27,406 ₹ 29,263
Mar 16, 2017 ₹ 27,158 ₹ 29,013

Weekly & Monthly Graph of Gold Price in Vijayawada

Historical Price of Gold Rate in Vijayawada

  • Gold Price Movement in Vijayawada, February 2017
  • Gold Rates 22 Carat 24 Carat
    1 st February rate Rs.28,042 Rs.29,906
    28th February rate Rs.28,508 Rs.30,364
    Highest rate in February Rs.28,632 on February 27 Rs.30,487 on February 27
    Lowest rate in February Rs.27,352 on February 1 Rs.29,805 on February 1
    Over all performance Rising Rising
    % Change +1.66% +1.53%
  • Gold Price Movement in Vijayawada, January 2017
  • Gold Price Movement in Vijayawada, December 2016
  • Gold Price Movement in Vijayawada, November 2016
  • Gold Price Movement in Vijayawada, October 2016

Where to Buy Gold in Vijayawada?

There are a number of places where you can buy gold jewellery in Vijayawada. For example, the popular Malabar Gold has outlets in the city of Vijayawada. Another home grown place for buying the precious metal in the city is Anjaney Jewellery. This goldsmith has almost three decades of existence in Vijayawada and has carved a good niche for itself with service.

There are also the popular chains in the city like Tanishq, which is located at MG Road and also Khazana Jewellery, which is similarly located at MG Road. There are many others shops that are more localized and have been doing business for many decades now. However, that should not be the only consideration for buy gold. Look at various other aspects before getting into buying gold that includes price and service.

916 hallmarked gold in Vijayawada

If you are looking to buy, you should buy the 916 hallmarked gold in Vijayawada. This is because it is 22 karats gold and has 91.6 per cent purity. You cannot buy gold jewellery with 24 karats because gold has to be mixed with other allloys, before converting to jewellery. This is because pure gold is brittle and it cannot be converted into jewellery. It is a good idea to hence buy gold and gold jewellery in the 916 form in Vijayawada. However, you should make sure that you have checked for purity and buy the same only from hallmarked gold jewellers in the city. You run the risk of otherwise ending up wth impure gold which is another worry.  All in all, you need to be a little careful before making these purchases. Remember that when you are buying only go for the hallmarked gold in India, as these would help you ensure the purity of gold that you are buying.

Prices of Gold in Vijayawada

It is imperative that you check live 22 Karat gold rates in Vijayawada, before you venture into buying the same. This is because, you can otherwise end up making losses. Normally, what does also happen is that gold prices do not change in any particular city. However, there could always be some variations.

Another thing to remember when buying 22 karats gold in Vijayawada apart from gold prices is the making charges. Here again the variations could mean a lot. For example, making charges for gold could vary from 5 per cent upwards. Let us assume that you are buying 10 grams gold in Vijayawada. Even if there is a Rs 100 price difference you could end-up losing as much as Rupees.

How to Identify the Gold you are Buying is Real or Fake Gold in Vijayawada?

The first thing you must be looking for while buying gold jewellery is for the markings. The first marking you should be looking for is the hallmark then the purity stamp such as 10K, 14K, 18K, 22K which explains how many karats the gold is. In Vijayawada most of the jewelers sell hallmarked jewellery, but its better to go for a reputed one and to check gold rate in Vijayawada before going to buy. Its better to go for gold coins than jewellery if you are buying gold as an investment. As there is a change of increase of gold price in Vijayawada it is better to buy before the prices are increased.


Where to Invest During Inflation in Vijayawada?

Gold is best weapon to fight inflation. So it is advisable for investors in Vijayawada to invest in gold. As gold has already proved that it is perfect hedge against inflation. As the inflation is increasing year by year around 5-7 %, you can get similar returns from gold. The demand for gold and gold ornaments is also increasing these days, while genuine supply constraints for gold has pushed prices higher. So holding on to gold for a long time will give you great profits. It is not advisable to put all your money in gold its better to go invest a part of it. Even the poltical tensions affects the price of gold in vijayawada. So, if you are an investor of gold in turbulent times you can make money.

Movement of gold rates in Vijayawada

The main reason for movement of gold is movement in international markets, excise duty, import duties exchange rate conversion and etc. and the factor which affects immensely is other countries currency specially US Dollar. As the US dollar goes weaker gold rates in Vijayawada as well as India grows stronger. As of now as the US dollar has grown stronger we can see the decline in price of gold in Vijayawada and India. You can view the complete movement of gold rates in Vijayawada in goodreturns gold price Vijayawada. If you are looking to buy gold in Vijayawada, the best way would be to accumulate the metal every time there is a sizeable downslide. At the moment. we are not seeing anything of that happening and there is a possibility that gold may not drift below the Rs 26,000 mark in the coming days. So, if you are a buyer of the precious metal, it makes sense to buy when the levels reach around Rs 25,900 or so. Whether that would happen is a big question mark. Some investors have been waiting for over one year for the dip to happen, but that has not materialized. In fact, now they are looking at fresh prices of around Rs 27,000 to buy. It makes sense to check the live prices of gold in Vijayawada if you want to buy into the precious metal. The movement of gold this year has been exceedingly volatile and we do not anticpate that the metal prices would fall any time soon. Also a lot depends on tgghe policies that new US President Donald Trump would follow, going forward for gold prices in Vijayawada to recover anytime soon. Expect prices of the metal to hover around the Rs 27,000 mark in the near future.

How Gold is used in Vijayawada?

There are mainly 4 ways that gold is used in Vijayawada and India they are in jewellery, gold coins or bars, in electronics and aerospace.

In gold, about 78 per cent of gold consumed each year is made into Jewellery and is the most common way that gold reaches a customer. Gold coins or bars are one of the most common ways to hold or invest in gold is in gold coins, gold bars.
Gold is a very efficient conductor that it can carry tiny electrical charges, and because of this property a small amount can be found in almost all electronic devices, including cell phones, televisions, GPS units and more.
In Aerospace Gold is used to coat the insides of space vehicles to protect people inside from infrared radiation, It is also used to lubricate mechanical parts and to conduct electricity.

Great demand for gold in Vijayawada

In 2014, after Andhra and telengana got divided Vijayawada become commercial hub of Andhra pradesh.  There is a great demand of gold in vijayawada specially coins and bars. Even the residents of Vijayawada consider gold as a traditional investment. During festivals such as dusserha and diwali individuals buy gold. zs a traditional investment. Even gold jewellery is preferred as a wedding gift.

 After division and other political situations while the real estate is fluctuating, invetsors start investing in gold more as as a refuge in difficult times. By knowing the fact that such factors dose not effect gold prices as gold rates will not change with such factors.

There are investors who prefer to invest in gold ETF’s as there will be no storage hassle, as the gold will be in electronic form and it will be a safe and easy investment option. By taking such safe moves and by following up gold rates in Vijayawada it will be a good profitable way of investing.

For Investment purposes buying gold physically in form gold coins, gold bars or jewellery is better.


Why gold is alloyed with other metal in Vijayawada?

Pure gold is a very dense and very malleable metal. The gold purest form is too soft metal on its own and for hardening, it must be alloyed with the elements such as copper, silver, nickel, palladium and zinc.
For the better understanding of why gold is alloyed, you can try the following experiment where If you beat a small piece of iron and a piece of gold with a hammer, you'll have to beat it very hard to flatten an iron piece where as for flattening the piece of gold can be done very easily.

Gold is alloyed with Copper and silver which have about half of the density of gold and for beating them into sheets, it needs more force and strength. By which gold becomes stronger and that's the reason goldsmiths and jewellers add silver and copper to gold when making jewellery. The method jeweller or goldsmiths use to alloy gold and copper is they melt both the metals together, which can then be beaten, drawn or twisted into various shapes patterns.
Gold jewellery is measured in karats. purest (99%) gold is 24 karats which are used for making gold biscuits and coins. for making of jewellery 22 carats (91% gold) and 18 carats (75% gold) is used.

Benefits of buying ETF's in Vijayawada

Investors in Vijayawada who invest in gold can go for ETF's than investing in physical form of gold. There are a lot of benefits buying ETF's in Vijayawada here are few.

Gold ETFs provide a possibility to investors to stack away gold over a given period of time. Since Gold ETF's can be purchased in small quantities, one can plan the acquisition as per future requirements.

In gold ETF's there is no risk of theft and one doesn't need to worry about the storage cost as this will be in electronic form. whereas for the physical gold, one ends up paying extra for making and other charges as well, but there are no extra charges applicable for the gold ETFs. One can exchange them in multiples of Kilograms units of 0.995 purity when needed.

For gold coins and bars most jewelers offer only an exchange and not a buyback whereas gold ETFs can be sold across India for transparent prices. Check goldrates in Vijayawada on goodreturns for the accurate price.

In terms of taxation benefits, gold ETFs are way ahead of the physical gold. No sales tax, VAT or securities transaction tax is applicable on gold ETFs.

Question you must ask before buying gold in Vijayawada?

Before buying gold in Vijayawada you must ask the jeweler few very important questions

Is this BIS hallmarked gold?

In India, there are more than 13,000 BIS-hallmarked jewelry showrooms and 300 BIS recognised hallmarking centers, But there so many jewelers who do not sell hallmarked jewelry. In exchange for not BIS mark then will give you they will offer discounts. individuals who get tempted to these will end up in loss. As you will not get the price you bought the gold for or the market price as the jewellery is not hallmarked.

What are the buyback terms?

Check and see did the jeweler is willing to offer you any buy back terms like if you were to return the gold jewellery in future for cash or an exchange it for a more contemporary design.
if there is an exchange and buy-back period and policy and if you are aware of it. This will ensure that you can return or exchange the jewelry. In case you are having any issue.

Bill?

By asking bill you are contributing towards ensured and more transparent gold market in the country. You might have to pay value-added tax and share your PAN details too with the jeweler for a purchase of jewellery more than Rs 50,000. But a bill has every important detail of the purchase which goes a long way towards ensuring transparency and providing you with assurance. Bill is something you can turn to, in case you need to approach a consumer court too.

Why gold prices in Vijayawada change?

Vijayawada, the city on the banks of the Krishna River changes sees volatile rate for the precious metal. Gold prices in Vijayawada depend completely on economic conditions globally. For the one in Vijayawada who are interested in investing on gold in Vijayawada must know and understand these things to gain profits or else end up losing money.

The first and most the important element which affects gold rates in Vijayawada is movement in the value of dollar U.S. Dollar. The price of gold in Vijayawada moves with the U.S. Dollar but in the opposite direction which means if the dollar rate is up gold rate in Vijayawada goes down and if the U.S.Dollar is down then the gold prices will go up.

Other currencies such as euro, Japanese Yen and a basket of otehr currencies will also affect the gold price in Vijayawada but not as much as the U.S.Dollar affects.

The other major factor is decisions taken by the central bank of India which is Reserve Bank of India for us. With the decisions of reserve bank, gold rates in Vijayawada will be affected. Because of monetary strategies or any other bank disappointment, there will be a fluctuation in gold rates in Vijayawada.

How to take a gold loan in Vijayawada?

In Vijayawada people, have a liking for Gold and there are individuals who make money from gold as an investment.

There are individuals who buy gold as a saving because on gold they can get a loan on gold very easily. Actually gold is an instant, safe and secured for opting a loan. There are Banks as well as nonbanking financial companies (NBFC) from which you can get a gold loan from.

Out of all the all the banks and NBFC's, Mannapuram Gold and Muthoot Finance stand top for opting gold loan in Vijayawada. These are the popular gold loan companies that you can approach is for a gold loan in Vijayawada. These two companies offer good interest rates and other offers due to which these two gold loan companies are preferred by people of Vijayawada. to take a gold loan. But still it will be safer option to opt a gold loan from nationalized bank.

The things you should be looking or comparing should be processing charges, loan tenure, prepayment charges processing time etc. But more important one has to check Gold rates in Vijayawada before opting a loan from a website which gives accurate gold price in Vijayawada such as goodreturns.in

Purity of gold in Vijayawada

The purity of gold is measured on the scale of karats, which varies from 24 karats to 9 karats, where 24 karats is the purest form.

In 24 karats means the purest form of gold and 24 karats of gold is used mostly in making gold bars coins etc. When it comes to jewelry 24 karats is not preferable.

22 karats gold means 91.6 percent of gold is alloyed with any metal other metal such as copper, zinc etc., depending upon the requirement. 22 karats gold jewelry is famously known as 916 gold jewelry.

In 18 Karats 75 per cent of gold is alloyed with any other metal then its is called 18 karats gold. In a similar way when 58.30 percent of gold is alloyed with other metal then its is called 14 karats gold. When 41.7 gold is alloyed with other metal then it is called 10 karats gold and when 37.5 per cent of gold is mixed with other metal then it is called 9 karats gold.

The tradition of alloying Gold with other metal started majorly because of these two reasons: One is gold is a soft metal and to make it hard while making jewelry it is alloyed with other metals and the other major reason is when mixed with these metals gold color changes. To make some fancy jewellery, jewellers alloy gold with other metals. Remember, it is important to compare the prices with your local jeweller so that you get the best deal in town.

Who fix gold rates in Vijayawada everyday? why is it different from other cities in India?

Vijayawada, a city on the banks of the Krishna River have a different local tariff for gold. Not only Vijayawada every different city have a different local tariff for gold. There are few assumptions that gold rates in Vijayawada are fixed in ports cities such as Mumbai, Chennai, and Kolkata which is not true.

In every city to fix gold rates, there will be a committee or association. Even in Vijayawada, there is a committee. These associations or committee fix the gold rates in Vijayawada everyday.


The members of the gold association in Vijayawada are the top jewelers in the city and other officials. They set gold rates in Vijayawada every day which is daily updated on goodreturns.in

There are many parameters which are considered to fix gold rates in Vijayawada. The associations in every other city set gold rates by considering those parameters. Parameters such as few duties and local tariffs and etc.

Sometimes these tariffs and duties are raised by the government at that time there will be chances the gold in Vijayawada will go higher and vice versa. If we see the past history of these tariffs, In order to curb excessive consumption of gold government raised the duties on it.

Gold rates in Vijayawada also increase due to few other duties such as transportation. Some local tariffs also affect gold prices. Yes, there will be a change in gold rates from city to city. So it is better to check gold rates in the specfic city before buying. 

What affects today gold rates in Vijayawada?

Vijayawada gold prices today depend on a number of factors and one of those factors is the buying of gold by central banks across the world.

For example, the Indian Centra Bank which is Reserve Bank of India has also had a lot of gold reserves and has been accumulating the same in the past.

However, the situation is not same across the globe. In fact, according to statistics central banks across the world bought 271 tons in the first 11 months of 2016 whereas in 2015 brought 407 tons in the same period. Gold used to have a lot of support from central banks across the globe in the past, Due to which central bought a tremendous amount of gold. This affects today gold rates in Vijayawada.

Another most important factor affecting today gold rates in Vijayawada is gold is being used in electronic appliances a lot so the demand for gold is increasing tremendously day by day. Electronic appliances such as mobile phones circuits are being designed using gold these days. The reason behind doing so is the noble nature of gold. Gold don't corrode because of this nature to increase the durability gold is being used in electronic appliances. This is also one of the major factor affecting today gold rates in Vijayawada.

What are taxes on gold in Vijayawada?

In Vijayawada there are two taxes on gold which one needs to pay if they are in that tax slab. Those two taxes are one is capital gains tax and the other is the wealth tax.

These taxes are not only for the individuals who owns gold in Vijayawada. These taxes are applicable for every individual in India who holds gold within the tax slab.

First taking capital gains tax into consideration. Capital gains is the tax which one has to pay if they are trading with gold. In this, the tax liability changes for short term and long term. If you are holding gold for the long term, then there will be different taxes, and if you are holding for short term, there will be different tax slab If you are trader and trade with gold. It is better to check the tax slab and check into which you come under and pay as per the norms.

Then taking wealth tax into consideration this tax slab is not for applicable everyone. This tax applicable for those who are holding or own gold which costs more than thirty Lakhs. To know whether you are subjected to pay this tax or not first thing you must be doing is check gold rates in Vijayawada on that specific day and calculate do you have gold worth thirty lakshs. If yes it is better to pay the taxes. If no then no need to pay any tax as the gold rates in Vijayawada will be changing every day. It is better to check every day.

One crucial thing to remember is the tax liability will be the same, whether you are having or trading with gold in the electronic form or physical form.

Latest Updates on Vijayawada Gold Rates

Steady opening for gold rates in Vijayawada likely

Gold rates in Vijayawada are slated to open steady in line with the international markets. Gold for 22 karats and 24 karats are likely to jump in the more short to medium term, given the sharp fall that we have had in the last few weeks. In fact, Vijayawada gold rates had been on a systematic decline, but, have now recovered since then. It is likely that we may see some more recovery in the prices of these precious metals. The election of Donald Trump as the President of the US has ensured that prices remain more volatile then ever before. First, prices of the precious metal gained and then they dropped sharply only too rally again.

23 January 2017
Gold rates in Vijayawada

Gold rates in Vijayawada were trading at Rs 26,610 per 10 grams, while 24 karats gold was seen trading at Rs 28,510 per 10 grams. Gold prices have been more or less steady in the city of Vijayawada in the last few days and the trend may continue. If you are looking to buy, you can do so on declines, as this would give you a good opportunity to make money in the long term. Remember, today gold rates in Vijayawada have always generated good returns as compared to any other asset class. So, buy on declines is the great advisable strategy.

22 December 2016

Disclaimer: The gold rates are sourced from local jewellers in the city. There maybe variance in rates and prices. GoodReturns.in has made every effort to ensure accuracy of information provided; however, Greynium Information Technologies Pvt Ltd, its subsidiaries and associates do not guarantee such accuracy. The rates are for informational purposes only. It is not a solicitation to buy, sell in precious gold. Greynium Information Technologies Pvt Ltd, its subsidiaries, associates do not accept culpability for losses and/or damages arising based on gold information provided.

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