Home  »  Gold Rates  »  Visakhapatnam

Gold Rate in Visakhapatnam (4th August 2021)

Aug 4, 2021
4,490 /Gram(22ct)

Visakhapatnam is one of the largest cities in Andhra Pradesh with a great coastline. If you are looking to buy gold in the city of Vishakapatnam, you have plenty of options. It’s always better to check gold rates in Visakhapatnam before buying the gold.

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

Gram 22 Carat Gold
Today
22 Carat Gold
Yesterday
Daily Price Change
1 gram 4,490 4,490 0
8 gram 35,920 35,920 0
10 gram 44,900 44,900 0
100 gram 4,49,000 4,49,000 0

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

Gram 24 Carat Gold
Today
24 Carat Gold
Yesterday
Daily Price Change
1 gram 4,898 4,898 0
8 gram 39,184 39,184 0
10 gram 48,980 48,980 0
100 gram 4,89,800 4,89,800 0

* 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 Visakhapatnam for Last 10 Days (10 g)

Date 22 Carat 24 Carat
Aug 4, 2021 44,900 0 48,980 0
Aug 3, 2021 44,900 -90 48,980 -110
Aug 2, 2021 44,990 0 49,090 0
Aug 1, 2021 44,990 -10 49,090 -10
Jul 31, 2021 45,000 -250 49,100 -270
Jul 30, 2021 45,250 350 49,370 380
Jul 29, 2021 44,900 100 48,990 110
Jul 28, 2021 44,800 200 48,880 220
Jul 27, 2021 44,600 -200 48,660 -220
Jul 26, 2021 44,800 100 48,880 110

Weekly & Monthly Graph of Gold Price in Visakhapatnam

Historical Price of Gold Rate in Visakhapatnam

  • Gold Price Movement in Visakhapatnam, July 2021
  • Gold Rates 22 Carat 24 Carat
    1 st July rate Rs.44,000 Rs.48,000
    31st July rate Rs.45,000 Rs.49,100
    Highest rate in July Rs.45,250 on July 10 Rs.49,370 on July 10
    Lowest rate in July Rs.44,000 on July 1 Rs.48,000 on July 1
    Over all performance Rising Rising
    % Change +2.27% +2.29%
  • Gold Price Movement in Visakhapatnam, June 2021
  • Gold Price Movement in Visakhapatnam, May 2021
  • Gold Price Movement in Visakhapatnam, April 2021
  • Gold Price Movement in Visakhapatnam, March 2021
  • Gold Price Movement in Visakhapatnam, February 2021
  • Gold Price Movement in Visakhapatnam, January 2021

Importance of tracking live gold prices in Visakhapatnam

There are a number of reasons to be tracking gold prices in the city. The first and the foremost is that if you don't the chances of losing money is very bright. This is especially true if you are an investor. On the other hand if you are not an investor and are compelled to buy owing to various reasons like a marriage or a festival, please go ahead and buy. If you do not buy on decines, the chances are that you woud lose an opportunity to own the precious metal. Gold rates in Visakhapatnam have fluctuated on and off, though in the year 2017, we can see prices have rebounded a great deal. In fact, if you had to purchase the precious metal in the early part of 2017, you would have landed with good gains. Why only this year, since last year as well the precious metal has given good gains. If you have a penchant for risk and are able to take that carefully the chances are bright that you sould make money with a long term holding.  Buy on declines should be the right strategy to buy gold as far as investors are concerned.

Popular gold Jewellers in Vishakapatnam?

If you are looking to buy gold jewellery on Vizag, you can do it at a number of popular destinations like Lalitha Jewelllery Vizag, Khazana Jewellery gold rates Vizag which are provided every day. Apart from this there are many other reputed jewellery chains in the city like Vaibhav Jewellers at Vizag. At all times it is important for you to check the gold prices in Vizag. It is more important today than ever before, because gold prices have gone up manifold and a small difference in prices can mean a lot. Let us give you an example. Say, if you are buying gold with one jeweller at Rs 28,800 and at another jeweller at Rs 28,850, if you buy 10 grams, you have already lost as much as Rs 500. Now, just imagine that if you buy 100 grams, you would have lost as much as Rs 5000 due to the variation in gold rates in Vishakapatnam. The best way therefore would be to check the prices before you buy. We suggest that you not only check the gold rates, but, also stay focussed on the likely making charges that these would entail. For example, even a slight variation in the making charges could mean a lot in terms of price difference. This is especially true when the quantity that you are buying is rather large. So, stay invested at alll times.

Where to Buy Gold in Vizag?

For buying gold in Vishakapatnam, you can check the live gold rates at Khazana Jewellery in Vishakapatnam. You can also check at Lalitha Jewellery the live gold rates in Vizag. The city has a number of other showrooms which buy and sell gold. One needs to check, visit and call these shops and compare the prices. If you feel that prices are high, wait for a dip before buying gold in the city.

Investing in gold in Vishakapatnam?

Investors from Vishakapatnam invest in gold in mainly three ways and those three ways are as follows.

Jewellery

The most famous and traditional way of investing in gold in Vizag is by trading in gold jewelry. The trading method doesn't change. The Investors will be buying jewelry while the rates of gold in Vizag are less and sell it when the prices go high. Even the long-term investors will be with an ideology of passing this commodity as an asset for the following generations.

Invest in gold coins and bars

These are for investors who invest in gold coins and bars as well. One who is interested buying bars and coins are the one very serious investors in gold. Who trades and makes money through by investing in gold. One can buy gold coins from jewelers as well as banks. Its better to go to nationalised banks as the gold coins are bars they give are 99.99 per cent pure and they will be with assay certification. Even one can buy gold bars or coins of various weights ranging from 0.5gm to 1 kg bars.

E-Gold

Egold means mostly ETF's or investing in gold mining companies etc on stock market. Mostly Investors who will be following gold rates in Vishakapatnam on daily basis will be buying and selling gold depending upon the fluctuations.

Taking Gold Loan In Vishakapatnam

Most indviduals in Vishakapatnam go for Gold loans as it helps a lot to raise money in bad situations. There are two of these where we can opt for gold loans in Vishakapatnam. One is from banks and other is from gold loan companies. The popular gold loan companies that you can approach in Vishakapatnam is the Muthoot Finance and Mannapuram Finance. Not only in Vishakapatnam but all over south india these two NBFC's stands in top spot for opting gold loan.

Both these companies offer good interest rates, but its better you compare the same with bank gold loans, before you go for the loan. There maybe a marginal variation in interest rates which is difficult to say at the moment, which would be better. In any case also compared gold rates in Vishakapatnam before you buy.

Things one should compare is the processing charges and interest rates. In case of gold loan companies while taking gold loan the process is hassle free. One needs to have documents in place where you can get a gold loan very easily. Normally, the entire process will finish within a couple of hours and the amounts will be handed over instantly. Individuals in Vishakapatnam prefer gold loans because they are the quickest in time of emergency situations. But before going for gold loan it is mandatory to check gold price in Vishakapatnam on goodreturns.in because it provides accurate gold prices in Vishakapatnam.

Hallmark gold in Vishakapatnam

In Vishakapatnam, there are BIS centers in Vishakapatnam where hallmarking is done.

Jewelers in Vishakapatnam approach some of these hallmarking centres for hallmarking the jewelry they sell. Actually, BIS (Bureau of Indian Standards) is a government organization which does a few tests on gold and gold jewelry in India. BIS hallmarked jewelllery which passes all test is considered as pure. Once the jewelry is hallmarked it is easier to sell the gold for jewelers, as individuals are looking at hallmarked gold ornaments in India. Most of the Individuals in Vishakapatnam who are buying gold should look for these. The first thing they will be looking is the logo of the BIS Hallmark.

Still, there are chances where the hallmark on jewelry may be fake. As per the World Gold Council, only about 30 per cent of the gold jewelry is hallmarked. So its better to go for Jewelry shops that are approved by BIS.

Most of the BIS Hallmarking centers are in the cities, As most of the demand is coming from the cities like Vishakapatnam. So, before buying gold in Vishakapatnam one should check is gold rates in Vishakapatnam on that day and the BIS logo on the jewelry they are buying. It is more advisable to buy from a reputed Jeweler shop.

 Taxes on gold in Vishakapatnam

It is important to pay taxes and before that one must know what are the taxes we are subjected to when you buy gold. One should pay wealth tax and capital gains tax on gold. Not everyone but there is a criteria who are liable to pay tax on gold.

When it comes to wealth tax, One should pay wealth tax, if the value of gold they are having is more than 30 lakhs then they has to pay wealth tax. As we know that gold rates in Vizag is changing day to day and may be the gold you are having was less than 30 lakhs and know it crossed 30 lakhs. So its better to have a clear idea how gold rates in Vizag is changing by checking gold price in Vishakapatnam on goodreturns.in

When it comes to Capital gains tax it is only applicable for gold merchants and investors as they are making money by buying and selling gold. This captal gains tax is also applicable for Gold ETF's as well. For Paying Capital gains tax there are two options one is short term in which one has to pay as per tax slab and other is long term in which 20 per cent, plus indexation should be paid.

Why gold ETFs should be a great investment tool in Vishakapatnam?

Firstly, a gold ETF means an exchange-traded fund (ETF) that aims to track the physical gold rates. Gold ETF is a unit representing physical gold in electronic form. Normally, one unit of gold ETF is equal to 1 gram of gold and it costs equals to one gram of purest form of gold which is 24 karats.

One can find Gold ETFs listed and traded on the stock market which is National Stock Exchange of India (NSE) and Bombay Stock Exchange Ltd. (BSE) like a stock.

One can buy and sell gold ETF's similarly like we trade in stocks. Buying gold ETFs means you are purchasing a stock in share market which is equivalent to 24 karats physical gold.

To buy gold ETFs one must have a Demat (dematerialised) account and this is the easiest way of electronically investing in gold. Even one can opt for a broker which makes investing in gold ETF's more convenient.

Investing in Physical gold has less options than ETF's for example gold coins and bars is painful to sell and buy in a particular city whereas gold ETFs can be sold for transparent prices across India.

 The fineness of gold in Vizag

There are two most important things one must know before buying gold in Vizag. In those first thing is how fine or pure is the gold you are buying and the purity of gold is measured in karats. 24 karats mean the finest and to have little more deep understanding following are the measurements.

24 karats -99.9%
23 karats -95.6%
22 karats -91.6%
21 karats -87.5%
18 karats -75.0%
17 karats -70.8%
14 karats -58.5%
10 karats -41.7%
9 karats -37.5%
8 karats -33.3%

Actually jewelers decrease the finess in order to obtain strength and obtain models even the prices decline with the decrease in finess.

Countries have various standards regarding fineness. For example in countries like England and Canada 0.375 is equal to 9 karats, 0.417 equals to 10 carats.

The second most important thing is to know gold rates before buying.

As we know and see there are a lot of unexpected changes coming up in the day to day life for example demonetization a sudden decision by India's Prime Minister of India and Republican Donald Trump winning the Presedential election. This time such situations affects  gold rates i Patna a lot. Not only these there are a lot of situations and decisions which affects gold rates in Vizag which we may not know. So its better to follow news and check gold rates in vizag everyday.

Why take receipt for gold jewelry in Vishakapatnam?

The very first thing one most must know before buying anything is for what you are paying taxes. We have to pay tax on profits we make every year. Profits mean your revenue minus expenses. Bill is a proof of your expenses. Bill is a record you need to submit to income tax so that you show that you made a genuine purchase.

In the bill, it will be also mentioned that you have paid the service tax, VAT, etc which makes you clear from your side it will be completely on seller now to pay taxes.

Another reason is if you make a purchase in cash and don't ask for a bill from a seller, their is no reason for seller to pay tax on that transaction.

So few Jewellery insists on not giving a receipt to skip the tax and even while you want to sell or exchange the gold jewelry you own without bill one cannot sell the jewelry. Even if any person buys the jewelry offered you low cost as you are not having the bill.

So it is better to go for a reputed showroom for buying jewellery and ask for a complete bill.

How pure is the gold in Vizag?

There are number of methods to check the purity of gold. One of the commonly known methods is the acid test.

This is one of the cheapest methods of checking the purity of gold. In the market, few acid kits are available which are used to check the purity of gold. In which, there will be few acid bottles labeled 10k 20k etc. Depending upon the karats of gold we are checking, one needs to keep a drop of acid on that jewel. If the acid reacts means the gold is less pure than the karats mentioned on the bottle.

Some jewelers in the market have some electronic gold testing machine which test the purity of gold. Depending on the electrical conductivity of gold it shows its purity. These electronic testing machines are fairly accurate.

There are many more machines such as XRF (X-ray fluorescence spectrometers) and etc, which are used to test the purity of gold. Than going for these tests it is better going for gold jewelry which is BIS hallmarked one, as the purity is assured.

Even there is assay office available in every city these days one can go there and get their gold jewelry assayed.

Which is preferable 22 karats or 24 karats Gold in Vishakapatnam?

Gold is a fragile and delicate metal like many other precious metals. To make them durable and tough these precious metals are alloyed with other metals. Due to this alloying Karats comes into the picture to define the purity of metal. Number of karats denotes the purity where 24 karats is the the purest form of gold.

The priority is to go for how many karats of gold to go for depends upon what you want to do with gold. If you are an investor and want to invest in gold, then its better to go for 22 karats or 24 karats gold and if one wants to go for jewellery it is better to go for 22 karats or less karat of gold.

Investors in Vishakapatnam buy gold coins or bars from banks or jewellery shops and keep its as an investment. It is the best kind of asset when compared to any other asset as it is a movable asset and can be sold at any place and can obtain its best value as per gold rates in Vishakapatnam on the same day.

When its comes to jewellery it depends on the buyer they can buy as per thier requirement. 22 karats or 24 karats of gold the gold rates in Vishakapatnam will be changing day to day. So its better to check gold prices in Ahmedabad everyday.

Is gold is a bad investment in Vishakapatnam?

It is hard to decide whether gold is a good investment or bad investment.

But there are few reasons by which gold is not considered as a good investment. They are following:

One cannot earn any fixed interest on gold. One won't get any dividends also. Even gold cannot act as an hedge during the worst form of inflation. If an investor invests in a basket of major stocks than on gold, probably he can recieve dividend payments.

Most Investors buy gold when the currencies are shaky or whole economies are wobbly. Since 2008 gold has a bad record. In that conditions, gold has been a poor investment.

If the investors are planning to invest in gold for long terms, it is bad for the economy. If they are buying gold and keeping them reserved in form of jewellery or in bank lockers for a long time then it is going to affect the economy.

Yet, it is not a bad decision to choose gold. By being smart, having short term, investing in the electronic form of gold and investing 20- 30 per cent in precious metals will be a good move.

Vishakapatnam love affair with Gold?

There are number of parameters to understand the Vishakapatnam love affair with Gold. Individuals of Vizag spend on gold because of traditional reasons, security, status and investment.

According to Hindu mythology which is Most practiced religion in Vizag gold is a sacred item in the way of life, it is a symbol of purity and they believe it brings prosperity and good fortune. Thats the reason they prefer to buy gold on occasions such as religious functions, weddings, births, and festivals. Even in troubled times they don't prefer to sell gold instead they prefer to liquidate any other assets.

Not only Hindu but also for many other communities in Vizag gold is considered auspicious and prefer to gift gold during celebrations and functions. Generally, Gold gifts have become an integral part of most of the ceremonies in present society. Gold is a symbol of status for status-conscious individuals. Wearing or gifting gold has become a way of exhibiting their status.

Gold jewellery is passed from one generation to another generation to keep the family legacy alive. Which is most commonly seen in weddings that they pass on jewelry from bridegroom mother to a bride, irrespective of design trends or value.

Is gold really an asset worth investing in?

Gold used to be the universal currency for hundreds of years. It's value is globally recognized. A lot of things such as metals and other commodity lost their value with time but not gold.

Gold has a unique nature which keeps it's value always up. The gold rate in Vizag before few decades was very low when compared to the gold price in Vizag nowadays.

Gold can be converted into cash regardless of city, state or country. The liquidity and universality of gold cannot be paralleled with any other asset.

Gold maintains its value over time. No long term investor has ever lost money by investing in gold. A lot of economists stated that the price of gold is not indicative of its value. Though the price of gold decreases, the value of gold does not change. This is due to the fixed quantity of this commodity.

Gold is a universal commodity, Countries sell their currency futures, treasuries, and other securities. But gold never lost its value. Though there are ups and down due to few reasons. But there is no such condition where gold lost its value.

The relation between Indian economy and Gold

Individuals in Vishakapatnam are very much attached to gold. According to statistics, India is the highest consumer of gold. Almost 30% of gold in the world is in India. But when it comes to production, India produces less than one per cent of gold in the world. So its obvious that consumer demand will be very high. To meet the consumer demand for gold, India is importing tons of gold every year.

Most of the gold is consumed as jewellery.

Individual investors also prefer gold coins or bars to trade. So this consumption is curbing foreign-exchange reserves we have. Due to this, Indian economy is negatively getting affected. This is bringing problems like current account deficit.
For Indian Government increasing in gold import is one of the stress points.

One thing we should understand about gold is that it is an unproductive commodity so whatever investments we did on gold is being unproductive. So to help the Indian economy, it is better to invest in capital markets than gold. If few big investors in Vishakapatnam take this kind of step, it can make a huge difference to the productive capacity of Indian economy.

What to check before buying gold jewelry for the first time in Vishakapatnam?

Before owning it is better you know about that thing. This formula applies to each and everything you do. So when it comes to gold as you will be spending a lot of money on it, it is better you know about it completely.

After you a select a model or the ornament you want to buy you should ask the jeweler or check on the jewelry for these things and they are purity, Hallmark, other charges.

Of all the first thing which comes first is purity. Purity is a very important factor, One can buy same gold ornament for a very different rate if you are compromising on purity. For example, you are buying a gold ornament of 22 karats for thirty thousand same ornaments you can buy for ten thousand if it is 10 karats pure. So purity is a very important factor which explains to you how much you should be paying.

Then comes is quality. Buying best quality in gold jewelry has become a very easy thing to do in Vishakapatnam. The only thing one needs to check is for BIS hallmark. The jewelry with BIS certifies that the jewelry is genuine and as pure as it is mentioned in the hallmark.

Making charges and wastage charges for the gold jewelry. This is not charged by every jeweler. There are few jewelers who waive of those charges as an offer. All these things are available on the bill. It is better you check twice for all these as you will be doing an expensive transaction.

 

Latest Updates on Visakhapatnam Gold Rates

The Gold Rates in Visakhapatnam Unchanges

The precious metal is trading unchanged in Visakhapatnam despite trading lower in the overseas market amid a steadied dollar.


In the local market, the yellow metal prices in Visakhapatnam were seen at Rs.44,990/- per 10 grams of 22-carat gold and Rs.49,090/- per 10 grams of 24-carat gold.

In the overseas market, the spot gold has seen at $1,809.21 per ounce; and U.S gold futures have seen at $1,814.90 per ounce.

Gold prices dropped due to the steadied dollar, investors are concentrating on monthly U.S. employment data to assess the health of the labour market.

The Covid-19 cases are increased in Asian countries on Saturday, mainly due to the highly transmissible delta variant of the disease.

Chinese factory activity expanded in July at the slowest pace in 17 months amid rising raw material costs and extreme weather conditions, adding to concerns about a slowdown in the world's second-largest economy.

In the currency market, large companies have traded in their ranges overnight, the dollar index is trading at 92.08. In cryptocurrencies, BTC / USD sank just below the psychological mark of $ 40,000.

 

2 August 2021
Gold Prices in Visakhapatnam Declines

Gold prices in Visakhapatnam declined slightly following international market trends as investors awaited the U.S fed meeting which going to be held on tomorrow.
Vijayawada gold prices were at Rs. 44,600 / - for 10 grams of 22 karat gold and Rs. 48,660 / - for 10 grams of 24 k gold.

In the global scenario, spot gold saw $ 1,796.75 an ounce; and US gold futures reached $ 1,796.90 an ounce.

The raise in new delta variant coronavirus cases in the United States is certainly something that is preventing the Fed from not changing its outlook and rate policy for the time being.

The US Consumer Confidence Index rose to 129.1 in July, from a revised upward reading of 128.9 in June, the US Conference Board reported on Tuesday. Economists expected to see the index at a reading of 123.9.


The Fed meeting will begin later today and a policy statement will be released at 6:00 p.m. GMT, which is scheduled for tomorrow, followed by a press conference by Fed Chairman Jerome Powell.

27 July 2021
Gold Rates in Visakhapatnam Rises

Gold rates at Visakhapatnam rose slightly despite stabilizing in the overseas market amid weak economic data and a stronger dollar.

In the domestic market, the precious metal prices in Visakhapatnam were seen at Rs.44,700/- for 10 grams of 22 karats and Rs.48,770/-for 10 grams of 24 karats.

In the global market, spot gold has seen unchanged at $ 1,806.08 per ounce; and US gold futures have risen 0.1% to $ 1,807.70 per ounce.

The stronger dollar and the weak economic data have pressured the yellow metal prices in the international market.

The number of Americans filing new jobless claims reached a two-month high last week, a reminder that the labour market was far from getting out of trouble as the country faces a resurgence of new Covid-19 infections.

The precious metal in Vizag is mainly purchased during the seasons only, such as wedding seasons, festivals such as Diwali, Ramadan and auspicious occasions such as Akshaya Tritiya, which sees a maximum rush with customers rushing to jewellery stores around town to take advantage of the attractive discounts.

In Vizag, the yellow metal prices were decided by some local jewellery shops associations based on the international market.

23 July 2021
Gold Rates in Visakhapatnam Rises

Gold rates in Visakhapatnam rose slightly despite its decline in the gold market amid a stronger dollar and dip in U.S Treasury yields. In the local market, the prices of the yellow metal in Visakhapatnam were marked at Rs 45,000/- for 10 grams of 22-Karat gold and Rs 49,090 for 10 grams of 24-karat gold. In the global scenario, spot gold has been seen at $ 1,802.56 per ounce; and U.S gold futures have been seen at $ 1,802.60 per ounce.

The dollar has trading high against a basket of six major trading currencies and has also pushed prices for the yellow metal.

Precious metal prices reversed course to trade at a nearly a week low on the overseas market as investors sought solace in the US dollar amid mounting coronavirus cases, although a drop in the Treasury produces losses. limited of metals.

Sentiment in broader financial markets also took a beating, as investors feared a relentless surge in coronavirus cases and mounting inflationary pressures.

Meanwhile, many Asian countries have been forced to take lockdown measures as they struggle to curb the highly contagious Delta variant of the coronavirus.

19 July 2021
Gold Prices Expands Marginally in Visakhapatnam

The gold prices expanded marginally in Visakhapatnam following cues from the bullion markets amidst weak dollar value. The gold rates in Visakhapatnam traded at Rs 44,400 for 10 grams of 22 karats and Rs 48,440 for 10 grams of 24 karats. 

In the international markets, spot gold was seen at $1,817.30 per ounce; U.S. gold futures at $1,804.20 per ounce. 

The prices of the yellow metal were up by 1% during today’s trade session after breaching the key $1,800 levels. The weak dollar has supported the rally of the ornamental metal. 

Gold and dollars share an inverse relationship. Fall in the U.S. currency will pressurize the precious metal to march up and vice versa. 

The dollar index, the measure of the U.S. currency against a basket of rival currencies, slid by 0.1%, moving further away from the three-month high it had hit during last week. The fall in the dollar has made gold less expensive for holders of other country’s currencies. 

Friday’s data revealed that the U.S. companies in June hired the most workers in the past 10 months. Yet, the unemployment rate ticked high and soothed some concerns over an earlier than expected policy tightening.

The U.S. Federal Reserve took a hawkish stance recently and hinted at hiking interest rates to curtail the further rise in interest rates in the coming days.

Meanwhile, the focus for the week will be on the minutes from the Fed’s latest meeting, set to be released tomorrow. Last month, the Fed had announced its hawkish tilt in which policymakers projected to hike interest rates in 2023 and sent the gold prices to drop below the key $1,800 levels.

6 July 2021
The Gold prices in Visakhapatnam drops

The Gold prices have fallen in Visakhapatnam despite trading within a narrow and stable range in the gold markets. The prices of precious metal prices in Visakhapatnam were seen at Rs.45,350/- for 10 grams of 22-carat gold and Rs.49,470/- for 10 grams of 24-carat gold

In the international forum, spot gold was trading at $ 1,864.30 an ounce; US gold futures contracts at $ 1,859.84 per ounce.

Today, the new policy statement and economic projections are due for release, which should shed more light on the movement of gold over the coming months.

The US central bank should recognize among its policymakers when and how quickly to scale back the bond-buying program that it launched in FY2020.

The yellow metal's prices stabilized in a narrow range on Wednesday as investors wait for any sign of a rapid drop in interest rates at the ongoing US Federal Reserve meeting.

The dollar index - the measure of the US currency against a basket of rival currencies has fallen slightly. The decline in the dollar index has potentially increased the appeal of the safe-haven asset for investors who hold the currencies of other countries.

16 June 2021
Gold prices drops in Visakhapatnam

Gold prices dropped slightly in Visakhapatnam following signals from overseas markets as soft inflation data weakens the appeal of a safe haven bet. Gold rates in Visakhapatnam were trading at Rs 46,900/- for 10 grams of 22 carats and Rs.47,900/- for 10 grams of 24 carats.

On the international stage, spot gold was $ 1,849.20 per ounce; US Gold Futures at $ 1,840.60 an ounce.

Weak US inflation data and lower US Treasury yields kept the loss of gold in bullion markets at bay. During January, the U.S. consumer price rose moderately as higher gasoline prices were mitigated by a collapse in airline fares amid mounting pandemic cases, dampening expectations of a sustained acceleration of inflation by 2021.

Gold, the precious metal, acts as a hedge against inflation and currency degradation.

Benchmark US Treasury yields fell to week-long lows during yesterday's trading session as the dollar also fell to two-week lows following tepid US inflation data. USA

Yesterday, the Chairman of the United States Federal Reserve, Jerome Powell, called for a broad national effort to get American citizens back to work amid the current pandemic crisis.

11 February 2021
Gold rates in Visakhapatnam falls

Gold rates in Visakhapatnam fell today despite their escalation in the international market amid Pfizer Inc said its experimental Covid-19 vaccine was above 90% effective based on initial test results.

Precious metal prices in Visakhapatnam were estimated at Rs.47,100/- for 10 grams of 22-carat gold and Rs.51,380/- for 10 grams of 24-carat gold. Coming to the international market, spot gold has been seen at $1,881.39 per ounce and US gold futures are $ 1,878.70 per ounce.

Gold rose 1% today, after falling sharply in the last session, as attention turned to the possibility of another monetary stimulus to revive a global economy still reeling from the Covid -19 pandemic.

While the optimism of the vaccine increased the risk appetite, uncertainties continued to weigh on the impact of the increase in Covid-19 cases in the United States and Europe.

Record stimulus aid and lower interest rates helped the metal gain traction for the year. The precious metal acts as a hedge against inflation and currency degradation.

10 November 2020
Gold prices in Visakhapatnam rises

Gold prices rose again in Visakhapatnam following global trends, with uncertainty over the stimulus package and the decline in the dollar's value causing metal prices to rise and cross the $ 2,000 mark per ounce. Gold prices in Visakhapatnam were recorded at Rs.51,670/- for 10 grams of 22 carats and Rs.56,360/- for 10 grams of 24 carats.

In global markets, spot gold was $ 2,023.00 an ounce and US gold futures were $ 2,015.30 an ounce.

Today, gold rates edged up 1% in the bullion market to $ 2,000 an ounce it hit earlier this month due to the weaker U.S dollar as it was reaching its low of more than two years in a context of persistent uncertainty over the release of the stimulus. the U.S government's package for the pandemic-affected economy.

Investors are waiting to see details of the U.S Federal Reserve's strategy to deal with the economic crisis induced by the coronavirus.

18 August 2020
The price of gold in Visakhapatnam gains

The price of gold in Visakhapatnam gained slightly today despite its stable in the bullion market amid a surprise rise in the employment rate in the United States. On the local market, the prices of yellow metal in Visakhapatnam were negotiated at Rs.44,350/- for 10 grams of 22-carat gold and Rs.48,420/- for 10 grams of 24-carat gold. In the international market, spot gold rose 0.1% to $ 1,682.57 an ounce and U.S gold futures rose 0.5% to $ 1,691.40 an ounce. Gold prices have risen today despite a sharp drop in the previous session, after an unexpected rise in the employment rate in the United States which raised hopes for a rapid economic recovery. According to the data, non-agricultural wages in the United States. The United States They cut up to 2,509 million jobs in May against the sharp loss of 8 million jobs. Market participants are now waiting for the end of the two-day meeting of the U.S Federal Reserve on Wednesday, although they have stopped prices with the possibility that the Fed will adopt negative rates after the surprise employment recovery.

8 June 2020

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.

Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X