Gold Rate In Chandigarh

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Today’s Gold Rate in India
22 Karat
46,160Per 10g of 22k Gold

Today 24 Carat Gold Price in Chandigarh – Updated Jun 24 2021

Gram 24 Carat Gold Yesterday 24 Carat Gold Today
Daily Price Change
1 GRAM Rs 4860.00 Rs 4881.00 0.43 %↑
8 GRAM Rs 38880 Rs 39048 0.43 %↑
10 GRAM Rs 48600 Rs 48810 0.43 %↑
100 GRAM Rs 486000 Rs 488100 0.43 %↑

Today 22 Carat Gold Price in Chandigarh – Updated Jun 24 2021

Gram 22 Carat Gold Yesterday 22 Carat Gold Today Daily Price Change
1 GRAM Rs 4455.00 Rs 4475.00 0.447%↑
8 GRAM Rs 35640 Rs 35800 0.447%↑
10 GRAM Rs 44550 Rs 44750 0.447%↑
100 GRAM Rs 445500 Rs 447500 0.447%↑

Today Gold Rate In Chandigarh: Jun 24 2021Gold Rate In Chandigarh

In Chandigarh, the price of gold has been very slow than ever before, since it is a very popular commodity among Indians. There has been a great demand for it which has further led to a steady increase in the gold rate in Chandigarh.

The Gold Rate In Chandigarh today is above Rs. 2,700 for one gram of gold which leads to a profit in the industry. The Gold Rate In Chandigarh is always set by international standards like any other city.

Compare 22k & 24k Gold Rate in Chandigarh

Gold Today Yesterday Rate Change
Standard Gold (22 K) ( 1 gram ) ₹ 4,610 ₹ 4,560 ₹ 50 ↑
Standard Gold (22 K) ( 8 grams ) ₹ 36,880 ₹ 36,480 ₹ 400 ↑
Pure Gold (24 K) ( 1 gram ) ₹ 5,030 ₹ 4,976 ₹ 54 ↑
Pure Gold (24 K) ( 8 grams ) ₹ 40,240 ₹ 39,808 ₹ 432 ↑

Last 10 Days Gold Rates

Date
STANDARD GOLD 22K PURE GOLD 24K
1 GRAM 10 GRAM 1 GRAM 10 GRAM
May 26, 2021 Rs. 4710.00 Rs. 47100 Rs. 5100.00 Rs. 51000
May 25, 2021 Rs. 4693.00 Rs. 46930 Rs. 5083.00 Rs. 50830
May 24, 2021 Rs. 4693.00 Rs. 46930 Rs. 5083.00 Rs. 50830
May 23, 2021 Rs. 4693.00 Rs. 46930 Rs. 5083.00 Rs. 50830
May 22, 2021 Rs. 4693.00 Rs. 46930 Rs. 5083.00 Rs. 50830
May 21, 2021 Rs. 4693.00 Rs. 46930 Rs. 5083.00 Rs. 50830
May 20, 2021 Rs. 4693.00 Rs. 46930 Rs. 5083.00 Rs. 50830
May 19, 2021 Rs. 4682.00 Rs. 46820 Rs. 5072.00 Rs. 50720
May 18, 2021 Rs. 4681.00 Rs. 46810 Rs. 5071.00 Rs. 50710
May 17, 2021 Rs. 4650.00 Rs. 46500 Rs. 5050.00 Rs. 50500

Gold Rate in Chandigarh

Gold is a very popular commodity in any state in India, including Chandigarh. The gold rate in Chandigarh is decided by international trends. Gold Rate In Chandigarh is considered dynamic. They are also affected by a wide range of factors. Gold is purchased in Chandigarh primarily as jewelry and ornaments. This is following the trend of most of the country when it comes to gold usage.

Indians have had a history of banking on gold more than the actual banks. Gold also acts as an investment portfolio for consumers in Jaipur looking at stable and long-term returns from the metal. There are many large and small gold dealers in Chandigarh that are exclusively into precious metals and form the backbone of the local gold industry.

List of banks providing gold loan in Chandigarh

Owners of gold jewelry can always approach a bank to get a loan against jewelry to meet any urgent personal or business expense. Some of the large banks and NBFCs in Chandigarh that provide loan against gold jewelry are:

Bank / NBFC Rate Per Gram Interest Rate Gold Loan Tenure Min – Max Loan Amount
₹ 3,506 to ₹ 4,621 0.099 3 to 24 months ₹ 10 thousand to 5 crore
ICICI Gold Loan ₹ 3,506 to ₹ 4,621 0.1 6 to 12 months ₹ 10 thousand to 5 crore
₹ 3,506 to ₹ 4,621 0.12 7 days to 36 months ₹ 3 thousand to 1 crore
₹ 3,506 to ₹ 4,621 0.1225 12 months ₹ 3 thousand to 1 crore
₹ 3,506 to ₹ 4,621 0.1025 36 months ₹ 20 thousand to 50 lakh
₹ 3,506 to ₹ 4,621 0.1 3 to 36 months ₹ 10 thousand to 5 crore
SBI Gold Loan ₹ 3,506 to ₹ 4,621 0.0975 12 to 36 months ₹ 20 thousand to 50 lakh
₹ 3,506 to ₹ 4,621 0.075 3 to 36 months ₹ 20 thousand to 50 lakh
₹ 3,506 to ₹ 4,621 0.1025 12 months ₹ 20 thousand to 50 lakh
₹ 3,506 to ₹ 4,621 0.1025 12 months ₹ 10 thousand to 5 crore
IIFL Gold Loan ₹ 3,506 to ₹ 4,621 0.12 11 months ₹ 3 thousand to 50 lakh

How are Gold Rates Decided?

How do Gold Traders Determine Future Gold Prices in Chandigarh?

Today’s gold rate is not determined by just one factor. Rather, many factors lead to all the price changes. However, the investors have to consider a few parameters to predict the gold rate in Chandigarh:

  1. Gold Related News: Investors can always check the news for today’s gold rate in Chandigarh every day for a price fluctuation due to the fluctuations in the global market. By following the gold-related news on our site you can also stay updated about any changes taking place in the current gold rate.
  2. Prices of Other Valuable Metals: The gold rate in Chandigarh is also influenced by the prices of other precious metals so, the investors should also follow the rate of other metals in the city.
  3. Rupee Foreign Exchange Rate: Fluctuations in the rupee rates can affect the gold prices in Chandigarh because the rupee exchange rate shows the impact of imports and exports on our currency.

What Leads to the Increment of Gold Rates When the Stock Market Falls?

Any investor in Chandigarh usually relies on gold when no other investment option works. When the stock market falls, the investors start pulling their money out. Some investors put their money in fixed deposits or invest in other precious metals such as gold and silver as a safe investment option.

Impact of GST on Gold Rate in Chandigarh

There has been a lot of ebbs and flow in the gold rate after the enactment of the Goods and Service Tax (GST) in India. Along with all the international trends, the advent of GST also reflected the gold rate in Chandigarh as well. This means that taxation on gold jewelry is now 3%. This is exclusive of the 1.5% VAT that was levied earlier. After the GST, taxation has been streamlined.

This has increased the total cost by 1.6%, and today it leads to a marginal increase in the gold rate in Chandigarh. This has not affected the sales much as all the big players in the gold industry are benefitting from it.

Impact of Central Bank Policies on Chandigarh Gold Rate?

The Central Bank regulates all the banking services of a country and also executes the functions of issuing currency and monetary policies. The gold rate in Chandigarh and anywhere else in the country is based on the Central Banks’ monetary policy. Each of these policies is regulated by the central bank. Its actions are key drivers in setting the gold prices and the gold prices in Chandigarh are also affected when the banks buy or sell gold.

Gold as an Investment in Chandigarh

The investment portfolio of gold is very distinguished. Indians have always seen to be believing in investing in gold for certain long-term benefits. Chandigarh has to be a haven to invest in gold jewellery, gold coins, ornaments, or billions of any kind.

There are several jewelry stores in Chandigarh, where one can buy genuine gold products for investment. But before making the purchase, some online research should be done to know more about gold prices today in ChandigarhThe gold prices keep on fluctuating every day, so one has to check on that particular day as well.

How Can You Make Gold Investments in Chandigarh

When it comes to investing in gold, there are many ways to do that. Either you can invest in gold coins or jewelry. Below we have mentioned a few viable investment opportunities in gold –

Purchasing Jewelry –  In India, people love to invest in gold ornaments and jewelry. It serves the dual purpose of investing in gifts for your loved ones during festivals and marriages. The market rate of gold is the actual price of the metal and the jeweller will levy making charges or labour charges on it. Therefore, make sure that you buy certified jewelry, so you can get the current exchange rate on your jewelry without making changes.

Gold bullions – Bullions are bigger in size as compared to gold coins. They are mostly purchased in kilograms. Gold is usually cast in the form of bars or slabs. They are purchased at the present Gold Rate In Chandigarh. They are also considered to be a great medium of investment.

Exchange-Traded Funds – Investing in gold traded funds is a very lucrative option to keep your money safe without having to keep it with you. You can also exchange them for cash easily if you need some money on an urgent basis.

Gold Schemes To Invest in Chandigarh

Gold saving schemes seem to work very well for anybody who wants to save money for occasions such as weddings, anniversaries. There are many gold schemes in Chandigarh that will help you purchase gold. You can get them easily from some of the top jewelers in Chandigarh. You can also check for discounts on the making charges when you purchase the gold. It is also advisable to invest in gold schemes so that you can accumulate any gold for future purposes.

Some Interesting Facts on Gold

These are some of the facts on gold that investors should know.

  • Gold is not an oxidant
  • Gold is softer than any other metals and 1g of the precious metal can be easily beaten with a hammer.
  • Gold becomes very hard if it is alloyed with certain other metals

Things to Consider Before Buying Gold Jewelry in Chandigarh

Today the gold rate in Chandigarh is prone to a lot of influential factors, but before purchasing it, it’s important to ascertain the factors listed below –

Purity– You simply can’t purchase gold without checking its purity. If you are purchasing jewelry or ornaments, it is recommended to buy one. If it’s a gold coin or bullion, you can go for 24 karat gold i.e. 99.99% purity level. You can also purchase around 14 karat gold jewellery with a 58.33% purity level and 18 karat gold ornaments with 75% purity level.

Weight– The price of gold jewelry is calculated depending on its weight.  If you add any more stones to it, the weight will certainly increase as will the cost. During the purchase, you must ensure that you are not charged unnecessarily.

Certification– if you want to ensure the authenticity of your gold then you should ask your dealer to give you a purity certificate. The certificate allows you to exchange it in the future at the current market price.

Labor Charges– Every jeweller includes the making charges of the jewellery or labour charges in the total bill. This is the cost that goes into designing the jewelry. The labour charges will automatically be levied, and that’s how your total jewellery cost would come out.

Factors that Influence Gold Prices in Chandigarh

Factors that influence the gold prices are –

  1. International market fluctuations are one of the most important factors that will influence the price of gold around the country. If there is a rise in global gold prices, then the price would increase correspondingly.
  2. As the value of the rupee rises against other currencies, globally, gold prices will decrease and vice versa. India imports gold from many other countries. The government then has to pay less to import it from other nations, if it increases. If it decreases, the government is liable to pay more.
  3. The prices of gold in Chandigarh and the entire country are certainly influenced by the upsurge in demand and supply during the festival season such as the Diwali season, wedding season, or dhanteras.

KDM and Hallmarked Gold in Chandigarh

Hallmark – Hallmark jewellery is the definition of quality certification as per the international standards of purity by the Bureau of Indian Standards. This is based on the composition of metal that is used for alloying, and the purity levels of the gold used.

KDM – 92% of gold is mixed with 8% of cadmium. This is how this alloy is formed. In the process of jewellery designing, older material is used, but the two metals i.e. gold and solder material have different melting points, so cadmium is now mixed with gold, that is why it is called KDM.

Understanding 916 Gold Price Today in Chandigarh

This is one of the most common questions asked by people. For example, one needs to study the global trend that largely determines 916 gold prices in Chandigarh. It is further affected by currency fluctuation. In India, 22 karat gold is considered 916 gold. Today’s gold rate in Chandigarh is affected by some factors which include the rate of import duty.

The lesser the import duty, the lesser will be the gold rate in Chandigarh and vice versa. The gold prices in Chandigarh are seen to decrease when the government lessens the import tariff. In addition to the local tariffs, many factors determine the rate of gold in Chandigarh. You check the 22-carat gold rate in Chandigarh today and when it is less, you can buy it to make a profit.

Best Place to Buy Gold in Chandigarh

Anybody who is looking to buy or invest in gold, or can check out various options.  You can check the current rates in Chandigarh online or in the newspaper. There are many shops in different parts of the city. You can research the making charge of gold. If you are lucky, your jeweler might also offer some kind of discount or you can bargain to get some discount on the making charges.

Buying a Gold Loan in Chandigarh

You can easily buy a gold loan against the gold you possess in any city, including Chandigarh. One has to make sure that you have enough money to repay the amount. The gold insurance can confiscate the entire amount if you fail to pay it back. You can go to any bank or non-banking financial company to get the gold loan

What are the Advantages and Disadvantages of Sovereign Gold Bond Scheme

Advantages of Sovereign Gold Bond Scheme:

  1. Sovereign Gold Bond Scheme can be purchased in both Demat form and paper form
  2. The major benefit of those schemes is that they are backed by the Government
  3. As you can keep it in digital form, you do not require to worry about its security.
  4. Do not fret about the purity of the gold as the bonds are in paper or electronic form

Disadvantages of Sovereign Gold Bond Scheme:

  1. If the gold rate drops after you make the purchase then that will be a capital loss of investment. And if you opt for a long-term plan then you will not be affected by any price fluctuations.
  2. The procedure to switch your gold bonds into physical gold is quite tedious. And if you are planning to use the gold for personal requirements then investing in bonds might not work well.

Gold Vs. Mutual Funds

MUTUAL FUNDS GOLD
Complicated
Less complicated
Greater market risk Involved
Based on global and few other factors it is easier to get a rough idea of the gold rates
Options to invest in Equity linked saving scheme (ELSS), Equity mutual funds, debt fund, liquid funds, etc.
Gold Funds and Gold ETFs
More opportunity cost
Less opportunity cost

About Chandigarh

Chandigarh is a city, district, and union territory in India that is also the capital of the two neighbouring states of Punjab and Haryana. It is considered to be a part of the Chandigarh Capital Region or Greater Chandigarh, which includes Chandigarh, and the city of Panchkula (in Haryana), and the cities of Kharar, Kurali, Mohali, Zirakpur (in Punjab). It is located 260 km (162 miles) north of New Delhi and 229 km (143 miles) southeast of Amritsar.


FAQs About Gold Rate in Chandigarh

What is the gold rate in Chandigarh for 916 hallmark gold?

The gold rate in Chandigarh for 916 hallmark gold is ₹ 44,250. The 916 KDM gold price is the same as the 22-carat hallmark gold.

What is the price of 1 gram of gold in Chandigarh today?

The price of 1 gm gold in Chandigarh today is ₹ 4,829 for 24 carats of gold and ₹ 44,250 for 22 carats gold.

What is the rate of 23-carat gold in Chandigarh?

The rate of hallmark gold of 23-carat in Chandigarh is ₹ 48,290.

How is today’s gold rate in Chandigarh 916 determined?

The gold rate in Chandigarh is determined based on various factors such as the interest rates in the developed countries, demand for gold wherein a lower demand for gold leads to low prices and higher demand leads to high prices. Further, the gold rate in Chandigarh is also affected by Government policies related to tariffs on gold, and the tariffs charged by the Local Governments.

What is the important checklist for buying gold in Chandigarh?

A checklist for buying gold in Chandigarh involves being mindful of the following things:

  • Check the gold price per gram: Checking out the Gold Rate In Chandigarh per gram is important, as you won’t end up paying more than the actual price. However, check the price from an authentic and reliable source.
  • Know about different purity levels: Before buying gold, the gold buyer must be aware of different purity levels in gold, such as 24 carats or 100% gold, and 22 carats or 91.6% gold. Research about the purity level and pre-deicide the level you wish to for based on factors like price and usage of gold.
  • Ensure certification: Ensuring the certification of gold is the most important aspect to check the quality and purity of gold. Ensure that you buy hallmark gold or the gold with the BIS mark.
  • Be aware of the buy-back terms: Lastly, be aware of the lender’s buy-back policy that is the terms on the exchange of gold years later. Know whether the seller will obtain the gold at the same price or whether any cost-cutting is involved.
  • Collect bill: Most importantly, after buying the gold, do not forget to collect a bill from the seller. Collecting the bill will allow you to take action if the gold is impure or lacks in quality as promised by the seller.

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