Today Gold Rate In Telangana
| Gold Price for Today | Gold Price for Yesterday | |
| 24 Karat, 10 grams | Rs. 48,053.00 | Rs. 48,053.00 |
| 22 Karat, 10 grams | Rs. 45,355.00 | Rs. 45,355.00 |
Trend of Gold Rate in Telangana for last 10 days
| Date | 24 Karat Gold Rs / 10 gm | 22 Karat Gold Rs / 10 gm |
|
17th March 2021
|
Rs. 48,053.00 | Rs. 45,355.00 |
| 16th March 2021 | Rs. 48,053.00 | Rs. 45,355.00 |
| 15th March 2021 | Rs. 48,053.00 | Rs. 45,355.00 |
| 14th March 2021 | Rs. 48,053.00 | Rs. 45,355.00 |
| 13th March 2021 | Rs. 48,053.00 | Rs. 45,355.00 |
| 12th March 2021 | Rs. 48,053.00 | Rs. 45,355.00 |
| 11th March 2021 | Rs. 48,053.00 | Rs. 45,355.00 |
| 10th March 2021 | Rs. 48,053.00 | Rs. 45,355.00 |
| 09th March 2021 | Rs. 48,053.00 | Rs. 45,355.00 |
| 08th March 2021 | Rs. 48,053.00 | Rs. 45,355.00 |
Gold Rate in Telangana
The Gold Rate in Telangana and other regions are frequently affected by its international value and other factors. International value is decided from London Over-the-Counter (OTC) spot gold market trading and COMEX gold futures trading.
Due to the several taxes levied like excise duty, state taxes, and other local taxes have made their contribution in changing the price of gold frequently on a state-to-state basis.
How to invest in gold?
There are several ways to invest in gold. Some of the methods are described below:
Investment in Gold Coins & Bars
One of the better options to invest is to purchase Gold articles like coins or bars and they can be purchased from banks, e-retailers, jewelers, Stock Holding Corporation of India, MMTC (Metals and Minerals Trading Corporation of India), and other NBFCs like the Muthoot Group. And you can purchase according to your budget as the weight of gold articles can start from as low as 0.5 grams.
Gold Exchange Traded Fund (ETF)
ETF stands for Exchange Traded Fund. Physical gold is represented on paper or electronically via ETF. 1 Gold ETF unit is = 1 gram of gold (99.5% pure). You must know, when one invests in gold ETF he/she deals in money & not in physical gold. Gold ETF can be sold at the same price all over India.
Another investment method is Sovereign Gold Bonds (SGBs)
SGBs are a form of government securities coming in different weights of gold (grams). People can invest in SGB if they do not want physical gold. Investors pay the issue price in cash. The bond is issued by the RBI on behalf of the latest government of India and it can be redeemed against cash on maturity.
There is no risk factor as you need to face physical gold as compared to SGB. As well as investors are assured of its market value at the time of maturity. For security purposes, the bonds are registered in the books of RBI or in Demat form. Therefore customers are free from risk.
Things To Remember Before Buying Gold
These are the few points which you need to remember before buying the gold :
Purity – Gold is generally made with a mixture containing cheaper metals, nickel, copper, zinc, etc., to give it strength. Therefore, the purer the gold ornaments the higher will be its value.
Hallmark – BIS hallmarked gold articles are costlier in comparison to non-imprinted gold articles. Thus, if there are two gold articles of the same weight and purity. The one with the hallmark will be more expensive. And will be safer and always prefer to buy gold articles with a hallmark to avoid risk factor.
Making Charges – You must be aware of the market prices and must ensure that the jeweler is charging you a competitive jewelry-making fee as per the market trend.
Weight of the Article – Make sure that the price you pay is according to the weight of gold you have purchased.
Invoice – Keep your invoices safe and secure it will be required when you sell the gold article.
How to buy gold coins in Telangana?
Gold coins are very popular in Telangana as people gift on auspicious occasions. The best option available for investment purposes as it comes in different weights, giving investors the freedom to choose according to their financial health. There are various jewelers and banks that sell gold coins. Gold coins are available online also but there are more chances for fraud if they are not certified jeweler/seller. Before buying ensure that you get a purity certificate when you buy a gold coin. The bank is not authorized to trade in gold coins.
How to buy gold bars?
Before buying any type of gold you must have knowledge of current market rates. Banks and big jewelers sell gold bars from where you can buy, as they are typically kept for serious investors. It ranges from 500 gm to 1kg.
How to sell gold?
In Telangana, gold is a highly liquid asset due to demand. It’s easy to sell gold as most jewelers and pawn shops are able to buy gold. And intricately designed jewelry might fetch lower prices than expected because jewelers don’t pay for the design but only for the weight of gold. Some jewelers also pay lower than the market price, and some of the jewelers and pawn shops are willing to buy gold at market rates. It is better to get quotes from a few buyers before making a decision. You must be aware of current market prices and the weight of the gold you are planning to sell so that you can sell at the best possible price.
Jewelers as compared to jewelry are attracted more towards gold coins and gold bars as they get better rates so sell more gold bars and coins rather than jewelry.
How much is gold worth?
Gold is one of the precious metals whose price generally tends to increase. Although, it is impossible to predict the price of gold that whether it will appreciate as an asset or not as Gold prices fluctuate constantly.
Factors affecting gold price in Telangana
International Gold Price – This factor is a major contributor to the price of Gold in India. Because India imports almost all of the gold that it requires. Therefore, if globally gold prices rise, so will the price of gold will rise.
Strength of American Currency – International Gold value is demarcated by United States Dollar. Thus, whenever the dollar depreciates the gold prices appreciate.
Strength of Indian Currency – The gold in India is imported from abroad. The gold that is imported for the same amount reduces when the value of the Indian rupee falls. This situation of scarcity of gold resulting in increased gold prices.
Demand and Supply – Whenever the demand for gold reduces the prices go down. Also, during a recession gold prices go up as people start keeping it.
Monsoon – Around 60% of gold is purchased by rural India. A good monsoon leads to an increase in crop yield which tends to increased demand for gold. This in turn increases the price of gold.
Geopolitical Factors – Gold rates unlike other stocks and investments go up in times of geopolitical turmoil. This happens because gold is a safer investment for people’s savings.
Measurement of gold
The gold weight is measured in grams or troy ounces (1 troy ounce = 31.1034768 grams)
What is a Carat?
The purity of gold is measured in Carat. It is a unit of fineness or purity. It is the ratio of an alloy mixed with gold such as copper. Since pure gold is very soft, it needs to be alloyed with another metal in order to allow it to be made into jewelry, etc.
24 Carat gold is pure gold. Following is the fineness scale which is used while defining the purity of gold:
24 K = 99.9% Pure
22 K = 91.3% Pure
18 K = 75% Pure
14 K = 58.5% Pure
10 K = 41.7% Pure
To know more about the Gold Rate in Telengana and updates about the gold rates in all other states of India, please visit the Dialabank website.
