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Gold Rate in Ahmedabad (17th August 2022)

Aug 17, 2022
4,805 /Gram(22ct) -15

The state of Gujarat has always been known for its flourishing trade in gold. In fact, a host of jewellers that the country has seen come from the State of Gujarat.

Ahmedabad is the biggest city in the state of Gujarat in terms of population. The gold trade has flourished in the city and gold trade, like any other trade is an important livelihood for many individuals living in Ahmedabad.

We have herewith provided gold rates in Ahmedabad. This would help our readers to take informed decision before buying gold.

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

Gram 22 Carat Gold
22 Carat Gold
Daily Price Change
1 gram 4,805 4,820 -15
8 gram 38,440 38,560 -120
10 gram 48,050 48,200 -150
100 gram 4,80,500 4,82,000 -1,500

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

Gram 24 Carat Gold
24 Carat Gold
Daily Price Change
1 gram 5,242 5,258 -16
8 gram 41,936 42,064 -128
10 gram 52,420 52,580 -160
100 gram 5,24,200 5,25,800 -1,600

* The above gold rates are indicative and do not include GST, TCS and other levies. For the exact rates contact your local jeweller.

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

Date 22 Carat 24 Carat
Aug 16, 2022 48,050 -150 52,420 -160
Aug 15, 2022 48,200 0 52,580 0
Aug 14, 2022 48,200 0 52,580 0
Aug 13, 2022 48,200 400 52,580 430
Aug 12, 2022 47,800 400 52,150 440
Aug 11, 2022 47,400 0 51,710 0
Aug 10, 2022 47,400 -600 51,710 -650
Aug 9, 2022 48,000 400 52,360 430
Aug 8, 2022 47,600 0 51,930 0
Aug 7, 2022 47,600 0 51,930 0

Weekly & Monthly Graph of Gold Price in Ahmedabad

Historical Price of Gold Rate in Ahmedabad

  • Gold Price Movement in Ahmedabad, July 2022
  • Gold Rates 22 Carat 24 Carat
    1 st July rate Rs.47,880 Rs.52,230
    31st July rate Rs.47,230 Rs.51,540
    Highest rate in July Rs.48,150 on July 2 Rs.52,500 on July 2
    Lowest rate in July Rs.46,050 on July 21 Rs.50,230 on July 21
    Over all performance Falling Falling
    % Change -1.36% -1.32%
  • Gold Price Movement in Ahmedabad, June 2022
  • Gold Price Movement in Ahmedabad, May 2022
  • Gold Price Movement in Ahmedabad, April 2022
  • Gold Price Movement in Ahmedabad, March 2022
  • Gold Price Movement in Ahmedabad, February 2022
  • Gold Price Movement in Ahmedabad, January 2022

Gold prices in Ahmedabad in 2019

Gold prices have moveing higher in 2019. Lesser worries of the US Federal Reserve hiking interest rates has helped gold prices. In line with global markets, Gold prices in Ahmedabad have also shown a healthy rising trend. There are basically two factors that have led to an increase in gold rates this year. One is that risk aversion has taken centre stage, with investors largely selling equities and buying gold, after a stupendous rally in share prices last year.

Investors have also largely been diversifying their portfolio, which has led to a rise in prices.

Gold rates in Ahmedabad have largely been steady in this month of May. However, we believe that there is a potential for some more traction, though a runaway rally in gold is ruled out.

The major damage to gold prices would come from the US Federal Reserve, which could hike interest rates. Many believe that the second hike in US Federal

Gold Rate in Ahmedabad, 22 & 24 Carat Gold Price Today

Different ways to buy gold in Ahmedabad

You can look at different options before you buy gold. These include through gold ETFs and also through silver coins and gold bars. However, it must be remembered that buying physical gold, means that you need to incur expenditure with regards to storage. Also, there is a worry of theft that may arise.

These days investors are increasingly looking are gold ETFs. According to a news report gold demand rose in the first quarter of 2017, largely on the back of rise in gold ETF investment.

In any case, do look at gold rates in Ahmedabad before buying gold.

How to sell gold in Ahmedabad?

An individual can sell gold at many places in Ahmedabad. One can sell gold in the same shop from where the jewelry was previously bought from. It is important to know the worth of gold that you have decided to sell. You can ask for quotation of the gold which you wish to sell from two to three jewelry stores before zeroing on one store where you are satisfied to sell the gold. It is better if one has a purchase bill or invoice of the jewelry which was obtained at the time of purchase of gold as it acts as a proof with reference to the quantity of the gold, place of purchase, date of purchase and the value of gold per gram at the time of purchase. The bill also helps the seller to avoid the conflict of interest regarding the purity of gold.

For seller it’s difficult to expect high returns from the sale price of the gold as compared to the purchase price, as the sellers will deduct the stone weight and also include wastage charges and melting charges from the value of the gold to arrive at the final settlement value. It is better if you are aware of the per gram value of gold at the time of sale, as it will help you to arrive at a better sale value. Jewelers use many types of test to determine the purity of gold like acid test, XRF test, and electrical conductivity test. Before selling its worth to check if the jewelry is hallmarked or not. Hallmarking establishes the purity of gold jewelry. Hallmarked jewelry bears 916 hallmark. Hallmarked jewelry has 91.6% pure gold.

Demand for gold in Ahmedabad

Until a few years ago, there was terrific demand for gold in the city of Ahmedabad.

Over the years what has also happened is that individuals have gradually shifted their preference for a certain type of gold and that is from physical gold like coins and bars to various other things. This has reduced physical demand considerably over a period of time. In fact, investors are today also looking at things like gold exchange traded funds. While this may see complicated for people staying in Ahmedabad it is not too difficult since many individuals already have demat accounts. This same account can be used for buying gold exchange traded funds. If you are looking at buying gold coins the demand has not been subdued and one can still invest with a decent medium term perspective in mind.

Check purity of gold rates in Ahmedabad

Before buying gold in Ahmedabad it is always a good idea to go for 916 hallmarked gold. Sometimes, it is possible that you may not get hallmarked gold. In such cases, what you can do is go for a jeweller that is reputed. You can go to your family jeweller, from whom you have been buying gold for sometime. This will ensure that you are ensured of purity and you can sleep with peace of mind. However, it is never easy to always bet gold that is halmarked. Sometimes, it is highly possible that there will be no essaying centres to check the purity of gold. In such cases what you can do is go to tried and tested jewellers in India. There are also a number of reputed gold shops, including the renowned chains. the options are 22 karats and also 24 karats gold. These days there is also a choice of buying 18 karats gold. For example, if you are looking at goild coins, sometimes you can get 22 karats gold. It is also important to remember to check and buy gold in Ahmedabad, as there can be a difference in prices.

Where are Ahmedabad gold rates heading?

The straightforward answer we would like to give, is that we do not know. It is always tricky to predict gold prices. But, we can give you certain trends that would determine gold prices and they do not look encouraging at all. First, there is the real and continuous threat of interest rates rising. When that happens it is not good news for gold. The other is that the dollar is gaining against a basket of currencies. This is not a good thing for gold prices in Ahmedabad. One more important factor that we should remember is that gold rates in Ahmedabad also depend a lot on how the government places taxes, which are very important for gold rates in Ahmedabad.

What to check when buying gold in Ahmedabad?

There are a whole lot of things that you should be checking before buying gold in Ahmedabad. Among these include the purity or the karats of the precious metal. Higher the karats greater is the purity of the metal. For example, if you buy 22 karats gold, the purity is just about 91.6 per cent of gold. So, you have slightly under 10 per cent that is metals. On the other hand 24 karats gold is 99.9 per cent pure or as we say the most pure karats gold. If you are buying gold in Ahmedabad, that is the first thing that you would like to see. Apart from this, you can also take a look and compare rates of different jewellers in the city of Ahmedabad. Remember, that gold rates would not change per se. What will chance is the making charges that would vary from jeweller to jeweller.

The best option for long term investors in Ahmedabad?

For the long-term investors in Ahmedabad, gold will be the best option for them. When compared to any other investment gold is an ideal bet because local, political issues or economic conditions may affect the real state, but the gold rates in Ahmedabad will not get much affected because of such conditions.

In gold investors have two options: one is they can buy physical gold or can opt for gold ETF's. In physical gold, they can go for gold coins or gold bars and the other option in buying physical gold is going for gold jewelry but it is advised for investors to go for gold bars or coins for investment purpose.

Gold ETF's is easiest, safe and hassle free method. Everything in this method will be electronic. Just by using a smartphone one can sell or buy gold ETF's. In this method, just by keeping an eye on gold rates in Ahmedabad everyday, one can buy sell instantly just in matter of seconds.

Its highly advisable to investors in Ahmedabad to go for ETF's if they are planning to invest in gold. We have highlighted the advantages of buying this gold in a number of places. In fact, internationally as well we have noticed an increasing trend of invetsors being more skewed towards Gold ETFs. In fact, abroad we rarely see investors buying into physical gold.

Taxes on Gold in Ahmedabad?

There are few taxes on gold you need to pay when you buy or sell gold in Ahmedabad. Let us assume, few years ago you have purchased gold in ahamedabad and gold price in ahamedabad is Rs 15 lakhs at that time and the price has crossed value more than Rs 30 lakhs so you have to pay wealth tax on it now. It does not matter, how, why and when you bought the gold if the value of gold you are holding is more than 30 Lakhs you have to pay wealth tax for it.

There is one more tax which is called as capital gains tax that is applicable if you trade gold at a profit. These two types of taxes are applicable. Capital gains tax has to be paid as per your tax slab or 20 per cent, plus indexation depending upon the term.

Capital gains tax that is also applicable on Gold ETFs as well. The tax rate is same for physical gold or Gold ETF's. if you have Gold its better have a look at gold rate in Ahmedabad everyday because you may not know when your gold value crossed Rs 30 lakhs. If the value of gold you are having is less that Rs. 30 Lakhs then you are exempted from the said tax.

How to find the best jeweler in Ahmedabad?

To find the best jeweler in Ahmedabad you should look for two very important qualities in a jeweler.

Is he selling BIS hallmarked gold?

There are Jewellers who sell hallmarked jewelry in Ahmedabad and there are few who don't sell hallmarked jewelry. The offers may tempt you at the moment, but by accepting such offers one will end up in loss because if you want any loan or want to sell the jewelry you will not get good returns as it is not a hallmarked one.

Does the jeweler offer any buyback terms?

See that before selecting a jeweler if he is offering any buyback terms.

Few jewelers will have back terms where one can sell or exchange jewelry bought at their jewelry shop.

If you buy jewelry from such jeweler. Once in a period of time, you can exchange old jewelry with new one or even you can sell it easily to them.

It is also important to see that is the jeweler is selling the jewelry as per the present market rate. For checking present market rate one can visit goodreturns.in and check for gold rates in Ahmedabad.

Where to take gold loan in Ahmedabad?

One can opt for a gold loan in Ahmedabad at Banks or NBFCs (Non-Banking Finacial Company) in Ahmedabad. Famous NBFC in Ahmedabad are Blend Financial Services Limited, D Z B And Associates and etc. Actually, gold loan is an instant, safe and secured type of loan which one can opt. When it comes to opting a gold loan from banks, a few banks have separate services for gold loans such as ICICI Bank and HDFC Bank Gold Loan service, Axis Bank has My Loan care in which gold loans have a separate category and etc.

All these have separate offers and interest rates and to choose which is the best one. One need to compare these things to select which one is better. They are processing charges, loan tenure, prepayment charges and etc. Most Individuals prefer to go for NBFC's because mostly the process will be very simple and fast. All you need is to have documents in place. There are NBFCs like Muthoot Finance and Mannapuram Finance that also provide gold loan to customers.

Though the process is simple and fast, its better to check with banks as well before opting for a loan because few banks are giving better offers when compared to NBFC's. Also, check the gold price in Ahmedabad before opting for a loan.

A symbol of wealth and status

In Ahmedabad, gold is a symbol of wealth and status and a fundamental part of many rituals for individuals in Ahmedabad. In the rural places of Ahmedabad, gold is used as practical considerations for the portability and as a security of an investment. These conditions in Ahmedabad gold appetite for gold defies market conditions and also how the gold rates in Ahmedabad is changing.

Gold is considered to be a blessing, particularly in Hindu culture and Jain culture. As per their cultures even they are having few regional festivals that are celebrated with gold particularly all over India. Festivals such as Akshaya Tritiya, Pongal, Onam, Ugadi, Durga Puja, Gudi Pavda, Baisakhi and Karva Chauth and etc. all these are celebrated by buying gold. Despite rise in gold price in Ahmedabad over the last decade. Still the demand for gold in Indian consumers is continuing to grow. Rupee gold price has grown nearly 400 per cent in the last decade.

When it comes to personal life events, gifting gold is one of the must part of marriage rituals in Ahmedabad. As per surveys weddings generate approximately 50 per cent demand of gold every year. Even the relatives and well-wishers in Ahmedabad mostly prefers gold jewelry as a gift in marriage.

Colored gold in Ahmedabad

In olden days wearing gold was a fashion. Knowing the trends are changed and a lot of people are preferring colored gold. So as per the trend jewelers are opting for various methods to make colored gold jewelry. There were majorly three types of colored gold which is due to alloying, intermetallic and surface treatments.

Alloyed Gold- Alloyed means Gold is mixed with other metals. It is for majorly two reasons: one is gold is soft metal to make it hard while making jewelry and another reason is for making colored gold. In this alloying process gold is mixed with metals such as silver, nickel, manganese or palladium etc. Few other metals are added to bring strength and few are added to obtain different color. But due to this alloying process jewelers can obtain six different colors of gold jewelry. They are white gold, Red or pink gold, Rose gold, Span gold, Green gold and Gray gold. The percentage of the mixture is different for different karats of gold.

In Intermetallic gold one can find two colors those are green gold and blue gold and generally Intermetallic gold is less karat gold.

In Surface treatments famous one is Black gold , black gold can be formed by creating nanostructures on the surface. This is not used in Jewellerys this is for high technology appliances.

What is so special about Gold in Ahmedabad?

The elemental properties of gold make gold special than any other metals. The chemical symbol for gold is Au which means aurum and the name is a Latin word for Gold. The atomic number of gold is 79. Gold in its purest form is a bright, reddish yellow, dense, soft, malleable, and tensile metal. It is clear that gold provides a globally neutral, natural element.

Gold is one of the Rarest commodity of the 92 natural elements. Of the 92 natural elements, there are 8 elements which are reactive to air and they are called immortal elements.

Gold is one of those Immortal elements. In those Immortal elements, there are four metals which are not reactive to air including gold. The other three metals are silver, platinum, and palladium and of these gold is rarest to find. Normally the immortal elements will not tarnish affect when it is exposed to air such as carbon dioxide, Oxygen or other gasses.

These characteristics of gold is increasing the value of gold because of these characteristics gold is being used in many advance electronic appliances. Even this reason shows affect on gold rates in Ahmedabad as this it is increasing the need of gold.

Gold standard in Ahmedabad

There are few things by which we will understand the gold standard.

First, comes gold's Portability as it is extremely dense which means it is easy to carry & handle. The second thing is, gold is lasting. Gold is inert and does not corrode. So there is no way it will lose its value. So for this reason one could hand over their gold to their generations as an asset.

The third thing to consider the gold standard is its trustworthy nature. In the world, at almost no cost one can test the purity of it. Fourth is its stability. The supply of gold is stable from long ago. There is no chance of a sudden increase in the production due to which the value of gold you are having will decrease.

The fourth important thing to consider is diversion. Metals such as Silver and platinum have very high industrial use. But whereas gold is not used when compared to it. About 100 tonnes annually is used in industries for the manufacturing of semiconductors.

There are many more things which shows the standard of gold. Because of standards of gold many investors in Ahmedabad look towards gold rates in Ahmedabad as it is the safest and standard asset to invest in. So, todays gold prices in Ahmedabad reflects this standard.

Why is 22 karat gold preferred over 24 karats in Ahmedabad?

The first thing one must understand before knowing why 22 karats gold is preferred over 24 karats gold is that karat indicates or describes the purity of gold, where 24 karats mean purest form of gold and the purity decreases with the decrease in karats.

Pure gold is very soft and has a very low yielding point due to which there are few flaws in the process of making of 24 karats gold jewelry, such as the possibility of making design will be very less for the jeweler. Even there are high possibilities of scratches and damage of the ornament.

However these days a new technology has been improved which is called microalloying. This microalloying is for hardening 24 karats gold, due to doing this process, one can expect 99.5 per cent finest gold jewelry without any chances of scratches or damages.

The gold ornaments manufactured by using this micro alloying method is a very expensive method and have very fewer designs. Most Individuals prefer to go for 22 karats because comparatively 22 karats is cheaper and can find different designs in jewelry as well.

There will be almost Rs 3,000 difference between 22 karats gold rates in Ahmedabad and 24 karats gold rates in Ahmedabad. So it will be better to check gold rates in Ahmedabad before buying gold jewelry and a reputed jeweler will be preferable for buying.

How to Buy Gold ETF's in Ahmedabad?

There are various ways to buy gold in Ahmedabad. Few Investors buy gold as an investment. To buy gold there are two major options one is by buying gold in physical form and the other by buying gold in electronic form.

When it comes to buying gold in physical form there are mainly two options: one is by buying jewelry and other is by buying gold in bars or coins. For investment purpose buying gold bars or coins is preferable than jewelry. If one is going to buy gold bars or coins one can buy gold in the purest form and even can buy it from banks as well. There are many banks who sell gold bars and coins against money.

When it comes to buying gold in electronic form, then the options will be such as gold ETF's (Exchange traded funds), one can invest in companies which do gold mining as well. One who is interested in investing in gold in the electronic form needs to have a Demat account. Investing in gold in electronic form is like trading in shares. All one who is interested in investing in shares needs to do is follow gold rates in Ahmedabad every day. Buy stocks when the prices of gold in Ahmedabad is less and sell when the gold price in Ahmedabad is high.

Some facts about gold in Ahmedabad?

Individuals in Ahmedabad are crazy about gold jewellery. According to a research report, over 16,000 tons of gold is there in Indian households in the form of jewellery. There are few factors one should consider and be aware of before investing in gold in Ahmedabad.

An investor should be aware of the different forms of buying gold. In the form of Jewellery is the most dominant and traditional form to buy gold. Buying gold in Ahmedabad is not a good investment idea at all. Investing in gold jewellery is a bad idea because there will be heavy losses in the form of wastage and making charges. This will be varying from a minimum of 10 per cent to 35 per cent depending upon complexity in designs. For bank coins also we have to pay some charges. As the banks will not buy back gold from us billions and ETF's are best options to invest in gold.

Gold does not carry any risk, even too we cannot make any regular income with gold. Compared to any other assets gold stands first in terms of liquidity. Any time or any place gold can be literally converted to cash. Even one can opt for a gold loan from Bank or a pawn shop.

Check these before stepping out of jewellery shop in Ahmedabad?

Whenever you go to buy gold jewellery there will be some sales managers or sales persons who will tempt you to buy more gold by using thier sales pitch so it is very important that you must not get tempted and buy what you planned to buy.

So here are few tips which can save you from that sales pitch.

First you should be asking yourself? can you afford the gold you are buying or going out of your budget plan.

Never visit a dealer who has a bad reputation in the market. Always check twice before visiting, which you can check on google as well.

If you are buying gold as an investment, buy gold bars or coins not jewelry because if you are going for jewellery you will be wasting money on wastage charges and making charges.

Check Gold rates in Ahmedabad, so that you can confirm that are you paying the correct price for the gold you are buying.

Don't forget to check for the authenticity of gold, such as BIS hallmark, karats and other symbols which represents how genuine the gold you are buying.

Do not miss to take bill. In future if you have any plan to sell the jewellery you are buying that bill will acting as the proof for its genunity.

Where to invest in Ahmadabad?

Most of the investors in Ahmadabad are confused where to invest their money, either in gold, real estate or stocks. To decide this, one need to understand how much return they want, how much time they have.

One can do trading in stocks in two ways, one can be day traders or term traders. Day traders can buy the stocks and sell the stocks on the same day. Term traders will have an option to hold the stocks for as many days they want. By this, they can earn dividends also. As these are in electronic form Individuals in Ahmadabad can sell and buy these from any place at any time.

In real Estate, If one is doing real estate for investment purpose then it is not preferable. Real Estate lacks flexibility and security which one is present in stocks or other assets such as gold.

When it comes to gold, if you are planning for long term investment gold will be the best place to invest in. As of now, one can trade in gold in electronic form as well. It is easier to go for the electronic form of gold like ETF's than investing in the physical form of Gold.

It is advisable to make a portfolio with a couple of long terms stocks and 20 to 30 percent of gold in it.

Resale value for gold in Ahmedabad?

Gold always has a resale value. But individuals in Ahmedabad don't see Gold as a value for money. They have more emotional connection with this precious metal. In Ahmedabad, Gold is very much a preferred metal. While buying gold individuals in Ahmedabad mostly will not have a thought of resale value in mind. They don’t treat gold the same way as any other assets that they trade on.

Most of the investors invest in real estate to make money than gold. Despite the fact that gold will have good resale value than any other asset. There are many reasons for gold to have a good resale value in Ahmedabad. Few of them are:

The first and the important one is that gold will always have buyers. As discussed before if any festive season comes, weddings or other occasions come up most individuals in Ahmadebad buy gold. Even Gold jewelry is the most preferred gift in weddings to the bride and bridegroom in Ahmedabad.

There are few scientific reasons are there because of which gold will have a good resale value such as gold will not corrode and also gold its other unique nature such as neutrality, Not only these there are number of reasons due to which gold will never lose its resale value in Ahmedabad.

Is Gold is the only metal which don't corrode or degrade?

No, there are few metals which don't corrode or degrade.

These metals including gold are called as noble metals. There are eight metals which are called as noble metals. They are Ruthenium (Ru), Rhodium (Rh), Palladium (Pd), Silver (Ag), Osmium (Os), Iridium (Ir), Platinum (Pt), and Gold (Au).

These metals are highly used in ornamentation such as making jewellery, sacred objects etc., making high technology equipment, metallurgy etc. These metals are rare and also their uniqueness makes these all noble metals.

These metals don't corrode because they have very less reactive nature
than other metals.

These precious metals are ductile and have a high luster. Many years ago these metals were used as currency, now these are
mainly used for investment purpose and as an industrial commodity.

As the investment option, out of all these metals, gold is the most preferred commodity world wide. Gold as an investment help the investors in Ahmedabad by acting as a hedge during hard times.

In Ahmedabad, individual investors have an emotional attachment to gold. They belive gold brings luck and prosperity. So out of all the other
eight metals, they prefer to invest in Gold.

What is a Gold coin? Should I buy a Gold coin in Ahmedabad?

Firstly gold coin can be described as a round medallion which we can use it for saving, Investment or gifting purpose. One can use it for either of the three purposes. Not only round shape but one can buy gold coins as per their need it can be rectangular, oval or in another shape.

When it comes to saving purpose few Individuals after experiencing a move like demonetization prefer to go for gold coins than keeping the cash. There is no way gold getting banned like 500 and 1000 notes got banned.

Even few investors prefer to buy gold coins as an investment and gold coins is also one of the most preferred gifts in weddings and other celebrations in Ahmedabad.

There are few things one need to check while buying a coin. They are

1. Purity- Mos t Individuals buy it for investment so it is better to check the purity twice. Most individuals buy 22 karats or 24 karat gold coins.

2. Weight- Weight is the one of the most important parameter to check before buying a coin it is available in many any different weights depending upon the buyer. Popularly coins are bought at 1gm, 2gm, 4gm and 8gm gold coins.

3. Gold rates in ahmedabad on that day when they are buying gold coins to make sure are they paying correct price for it.

Top 5 Gold ETF's to buy in Ahmedabad?

Are you an investor who is searching for best gold ETF to invest, here are few options for you,


This scheme is provided by SBI (State bank of India) mutual fund company which was established in 1987 and launched in 1991.

They offer a lot of schemes such as Debt Schemes, Equity Schemes, Hybrid Schemes, Liquid Schemes and Fixed Maturity Plans. SBI mutual fund also offers portfolio management and recommendation services to asset management companies and financial institutions.

Birla Sun Life Gold ETF

This ETF is from Birla Sun Life Asset Management Company Ltd. Established in 1994, This is a joint venture of Aditya Birla Group and the Sun Life Financial Corporation of Canada. They provide equity schemes, fund schemes, monthly income funds, debt and treasury products and offshore funds.

Quantum Gold Fund

Quantum gold Fund is part of Quantum Mutual Fund. This was incorporated in 2005. They also offer a set of other mutual funds such as Dynamic Bond Fund, Index Fund, Liquid Fund, Long-Term Equity fund, Multi Asset Fund, Tax Saving Fund etc.

Religare Invesco Gold ETF

This Gold ETF belong to Invesco mutual fund house. which was incorparated in may 2005. Excluding mutual funds, they also provide corporate bonds, equity funds, debit short-term funds, debit long-term funds, ELSS, index funds, ultra-short term debt funds etc.

Goldman Sachs Gold ETF

Goldman Sachs gold ETF belongs to The Goldman Sachs Group which is an American multinational finance company. It engages not only in ETF's, but also in investment banking, investment management, securities, and other financial services. The Goldman Sachs Group is one of the oldest company. It was founded 148 years ago in 1869.

There are much more Gold ETF's which are performing well. As we know, the market always will not be same. So it is better to check the company from where you are buying Gold ETF and also the gold rates in Ahmedabad every day.

Advantages of investing in gold in Ahmedabad?

Advantages of Gold as an Investment in Ahmedabad.

The first and most important advantage of gold is Liquidity. Gold can be converted into cash anywhere or any place in the world. This quality of gold is unparalleled with any commodity or asset.

Gold Hold its value. It maintains its value overtime. Though the price may decrease but there is a point from where the gold value will not go down. There is no investors who lost all his investment after investing in gold.

Gold is the best hedge against Inflation. During the time of Inflation gold rates in Ahmedabad rises. Deterioration in the dollar will logically lead to a better price of gold. As the gold price in Ahmedabad are inversely proportional to US Dollar rate. During inflationary instances, gold is far more better than cash for an investor.

Diversification, fror the one who trades in share market, gold is good option as a diversification to their portfolio. Investors mostly add securties to their portfolio but gold is also a good option. Gold always moves inversely to the stock market which represents how diversified gold is.

Gold is a universally desired investment.

Gold remains a typical commodity. From all around the world many nations promote their foreign money futures, other securities and etc. as competition to gold, but investors in Ahmedabad prefer to go for gold because they know their will chances of political chaos. Now-a-days gold is also being used in a lot of products. This precious commodity is being used in the making of various electronic appliances because of its nature. This immortal metal dosen't corrode and also having relatively high conductivity of electricity. Due to which there is some dependable demand to gold additionaly which helps to stabilize the gold rates in Ahmedabad.

Latest Updates on Ahmedabad Gold Rates

Gold Prices Constant in Ahmedabad

The gold prices are constant in Ahmedabad following trends from the bullion markets even as the Indian rupee hit a record low against the U.S.

currency. The gold rates in Ahmedabad.

In the international forum, spot gold was seen at $1,744 per ounce and U.S. gold futures at $1739.60 an ounce.

The rallying inflation rates had forced many central banks across the globe to hike interest rates. Last month, the U.S. Federal Reserve hiked the interest rates by 75 basis points, its highest since 1991, to tame inflation rates.

Another rate hike is on the card for July after Fed’s next policy meeting later this month.

On the other hand, the rupee value slipped further against the U.S. dollar during today’s trade session and was seen at 79.41. The situation has forced investors to continue to favour the greenback as a haven.

The rally of the U.S. dollar has kept a tab on the prices of the precious metal in the bullion markets. The dollar and gold share an inverse relationship, the rise in the dollar will cap the prices of precious metals and vice versa.

11 July 2022
Gold Prices Grows in Ahmedabad

The gold prices grew in Ahmedabad despite losing their shine in the bullion markets. The gold rates in Ahmedabad traded at Rs 47,000 for 10 grams of 22 karats and Rs 51,260 for 10 grams of 24 karats.

In the international markets, spot gold was seen at $1,744 per ounce and U.S. gold futures at $1,740 an ounce.

The metal slipped for a fourth consecutive week in a row yesterday, as it was hurt by the dollar’s ascent and rising bets for the steep hike in the interest rates gained traction after positive data on the U.S. job report.

Off lately, the precious metal has failed to attract safe-haven flows despite growing recession risks as investors have opted for the dollar, which has sky-rocketed to trade at two-decade highs.

Analysts note that the jobs data has pushed the gold value to slide, already struggling after such a robust dollar rally. However, there is some bargain hunting coming through in the precious metal here.

In June, the U.S. job growth was more than expected and the unemployment rate remained at near pre-pandemic lows. The data signalled persistent labour market strength which gives the U.S. Central Bank the much-needed ammunition to go for another 75 basis point hike for July.

9 July 2022
Gold Prices Trades Flat in Ahmedabad

The gold prices traded flat in Ahmedabad despite inching up in the bullion markets following the soft dollar. The gold rates in Ahmedabad stood at Rs 46,900 for 10 grams of 22 karats and Rs 51,160 for 10 grams of 24 karats.

In the global scenario, spot gold was seen at $1,741 per ounce and U.S. gold futures at $1,742.50 per ounce.

The metal firmed during today’s trade session as the U.S. dollar slid slightly from its two-decade highs. Yet the bullion was set to record its biggest weekly fall in over a month as the elevated greenback has hit demand.

The U.S. currency edged down from 20-year highs as it took off some weight from the greenback-priced metal.

For this week alone, the safe-haven asset has shed around 3.7% and is likely to post a fourth weekly drop and its worst since mid-May.

The rallying inflation rates had forced to take an aggressive hawkish stance on interest rates. The move has helped to bring the inflation rates on track, yet one more rate hike in July is imminently expected, sending fears of a global recession.

Last week, the number of Americans filing new claims for unemployment benefits shot up unexpectedly and are growing signs that the demand for labour is weakening.

8 July 2022
Gold Prices Slips in Ahmedabad

The gold prices slipped in Ahmedabad despite being balanced in the bullion markets as the dollar’s rally pauses. The gold rates in Ahmedabad were seen at Rs 46,900 for 10 grams of 22 karats and Rs 51,160 for 10 grams of 24 karats.

In the international markets, spot gold was spotted at $1,741 per ounce and U.S. gold futures at $1,74180 an ounce.

The hawkish stance of the Fed has strengthened the dollar to grow further. The imminent possibility of another rate hike by the Fed by another 75 basis points this month is likely to further strengthen the dollar.

Meanwhile, the steps taken by the Reserve Bank of India have limited the loss of the rupee value further, notes forex traders.

The U.S. dollar is rallying strongly over the last few days. The U.S. currency has managed to grow robustly against the rupee value, as the rupee depreciated further by 12 paise to 79.06 against the U.S. dollar in the early trade session today.

On Thursday, the prices of the precious metal edged up from the nine-month low it had touched during the previous session. The pause in the U.S. currency’s rally has alleviated pressure on the bullion. Yet analysts warned that the relief was for a short span.

Analysts from City Index, note that with momentum pointing south, dip buyers are effectively trying to catch a falling knife.

The ornamental metal is down from the benchmark $1,800 levels as higher interest rates have strengthened the dollar further, thus taking away the appeal of the safe-haven asset.

7 July 2022
Gold Prices Declines in Ahmedabad

The gold prices declined in Ahmedabad despite being firm in the international markets amidst weak rupee value. The gold rates in Ahmedabad were seen at Rs 47,680 for 10 grams of 22 karats and Rs 52,010 for 10 grams of 24 karats.

In the global platform, spot gold was seen at $1,756 per ounce and U.S. gold futures at $1,769.00 per ounce.

The yellow metal found some respite during today’s trade session after it managed to touch a seven-month low during yesterday’s trade session. The fall in the dollar value has paused a breather for the precious metal after a robust surge of 20-year highs.

Analysts note that the robust U.S. dollar due to a hike in interest rates and higher rates is having a direct impact on bullion, thus weighing on the outlook for the precious metal.

The dollar index, the measure of the U.S. currency against a host of other countries’ currencies hovered near the highest levels since 2002, as renewed fears of recession have sent investors scrambling to the safe-haven currency.

Meanwhile, a small decline in the dollar of around 0.1% during the Asian hour's trade session on Wednesday has made the greenback-priced bullion slightly less expensive for buyers who are holders of other countries’ currencies.

6 July 2022
Gold Prices Climbs in Ahmedabad

The gold prices climbed in Ahmedabad despite being untouched in bullion markets as imminent interest rate hikes by Fed have diminished the appeal of the safe-haven asset. The gold rates in Ahmedabad were seen at Rs 48,150 for 10 grams of 22 karats and Rs 52,450 for 10 grams of 24 karats.

In the overseas markets, spot gold was seen at $1,812.00 per ounce and U.S. gold futures at $1,809.90 an ounce.

Analysts note that the safe-haven assets' inflation-hedge appeal is tarnished by a softer inflation outlook. The looming interest rate hikes have diminished the appeal of the non-yielding asset.

The ornamental metal has been under pressure for the last few months as most of the global central banks have hiked interest rates, with the aim of easy rallying inflation rates.

The bullion prices have been floating at over the $1,800 support level after declining to a five-month low of $1,783.50 per ounce on Friday.

The U.S. Federal Reserve hiked interest rates by 75 basis points in June, its highest since 1991. The move by Fed was to combat the rising inflation rates. The aggressive stance of the Fed on inflation has helped to ease soaring food prices.

The ornamental metal is seen as a safe store of value during tough times be it political or economic crisis or recession. On the other hand, gold and the dollar share an inverse relationship. The strong dollar has kept a check on the rising prices of gold.

5 July 2022
Gold Prices Stationary in Ahmedabad

The gold prices are stationary in Ahmedabad despite a fall in its rates in the bullion markets following the strong dollar. The gold rates in Ahmedabad were seen at Rs 48,080 for 10 grams of 22 karats and Rs 52,500 for 10 grams of 24 karats.

On the global platform, spot gold traded at $1,812.00 per ounce and U.S. gold futures at $1,809.50 per ounce.

The bullion prices slipped to touch a five-month low on Friday, yet they managed to recover by the end of the session and are nearly steady, as per the Reuters report. The report further revealed that the Benchmark U.S. 10-year Treasury yields declined to their lowest level in a month on Friday, buoying non-yielding bullion.

Gold and the dollar share an inverse relationship, the rise in the dollar will diminish the prices of the metal and vice-versa. The growing worries of rallying inflation rates and recession fears have forced central banks to hike interest rates, diminishing the appeal of the metal.

The recent hike in the import duty on gold by the government of India, to bring down the trade deficit will dampen the demand for the precious metal in the country.

In a move to bring down the trade deficit amidst a weak rupee value, the government of India has hiked the import duty on gold to 12.5% from 7.5%, up by 5%, diminishing the demand for the safe-haven asset.

4 July 2022
Gold Prices Grows in Ahmedabad

The gold prices grew in Ahmedabad despite a fall in the bullion markets as the hike in the interest rates has declined demand for the yellow metal. The gold rates in Ahmedabad traded at Rs 48,080 for 10 grams of 22 karats and Rs 52,500 for 10 grams of 24 karats.

In the global platform, spot gold was seen at $1,812 per ounce and U.S. gold futures at $1,807.7 per ounce.

The U.S. central bank hiked the interest rates by 75 basis points, its highest since 1991 last month. Another rate hike in July by the same basis points to tame inflation rates has diminished the appeal of the yellow metal.

Gold and the dollar share an inverse relationship, the hike in the interest rates has supported the U.S. currency to rise and this in turn has dulled the demand for the precious metal.

The rupee hit its lifetime low of Rs 79.12 against the U.S. currency. The slump in the Indian rupee value has increased the trade gap.

Analysts note that the world’s second-largest gold consumer will see a drop in demand, even though the third quarter usually witnesses a rise in purchases amidst festivals.

The physical gold dealers in India offered huge discounts this week as demand remains muted, with the hike in tax rates likely to further sap interest amongst consumers.

2 July 2022
Gold Prices Extends Gains in Ahmedabad

The gold prices extended gains in Ahmedabad despite a fall in the global markets amidst a hike in import duty by the government of India. The gold rates in Ahmedabad stood at Rs 47,880 for 10 grams of 22 karats and Rs 52,230 for 10 grams of 24 karats.

In the international forum, spot gold was seen at $1,807 per ounce and U.S. gold futures at $1,794.6 per ounce.

The metal has extended its retreat to decline by 1% during today’s trade session as it will record its third weekly decline owing to strong dollar value and growth prospects of a hike in the interest rates. Usually, higher interest rates erode the appeal of the safe-haven asset.

The metal is coming off its worst quarter since early 2021 as the aggressive monetary policy adopted by major central banks globally has led the precious metal to lose about 2%, so far during the week. The robust dollar has also capped the growing prices of the safe-haven asset.

Gold and the dollar share an inverse relationship, the fall in the dollar will help the metal to surge up and vice versa.

In an unexpected move, the government of India has hiked the basic customs duty on yellow metal to 12.5% from 7.5% and this has led to the jump in the prices of the metal in the country. The move is likely to diminish the demand for ornamental metal in the coming days.

1 July 2022
Gold Prices in Ahmedabad Down by Rs 100 for 10 grams of 22 karats

The gold prices in Ahmedabad declined following trends from the bullion markets as the dollar strengthens. The gold rates in Ahmedabad stood at Rs 46,680 for 10 grams of 22 karats and Rs 50,950 for 10 grams of 24 karats.

In the overseas markets, spot gold traded at $1,822.00 per ounce and U.S. gold futures at $1,819.70 per ounce.

The precious metal was quiet during today’s trade session, yet it faced its worst quarter since early 2021, as a remarkable strong dollar has kept investors away from investing in gold.

Recently many central banks across the globe hiked interest rates to tame rising inflation rates. The aggressive stance by the central banks has also made the gold perform badly in this quarter.

Higher bond yields and interest rate hikes by the central banks to tame inflation rates and this hikes the opportunity cost of holding bullion, which does not yield any returns.

The performance of the metal during the second quarter erases gains made in the earlier part of the year as rising tensions between Russia and Ukraine have lifted the demand for the safe-haven asset.

The metal’s prices are set to fall for the third straight month. So far it has declined by around 6.2% this quarter.

30 June 2022

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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