Gold price by Investorocean.com
Gold or Gold ETF
There are several parameter on which physical gold and a gold ETF may be differentiated; these differences when considered help you to access which type of gold investments suits your plan.
Physical gold investments have been traditionally very popular but has several parameters that makes it limited as compared with gold ETFs. The purity of gold in physical gold may differ depending upon the grade of the gold but when you invest with gold ETF you your investment is directly with traditional bullions that are 99.5 purity. The price of the physical gold may rise or fall depending upon the domestic market however; ETF pricing is fixed as per the international market.
Physical gold is known for its liquidity, which allows it to be easily traded at any bank, financial institution or jewellers anywhere in the world. Gold ETFs are listed on stock exchanges, which makes it even easier to buy or sell them. Physical gold is taxable based on its holding tenure while for short term investment it is taxable as per the income tax slab and for a long term investment the gains from the physical gold investment is at 20%. While gold ETFs are similarly taxed as the physical gold for short-term gold. Whereas the capital gains from long term is taxed at 20.8%, which includes cess charges.
Hallmarked 916 Carat Gold
Hallmark in gold is the certification for its authencity, for its purity and which has been verified as being of high grade. The Indian gold standard certifying institution is known as BIS (Bureau of Indian Standards) which is responsible in assigning the hallmark for gold standards. Hallmarked gold is the ultimate guarantee, which assures the buyer of the quality of the gold, its weight and the percentage of gold in the composition.
Being hallmarked assures that the quality of the gold is as stated by the vendor and that buyers are not misled when purchasing or reselling things. The BIS assesses and declares if a certain gold piece meets international purity criteria. The gold is examined in one of the 330 BIS assaying centres located around the country.
A hallmarked 916 Karat gold is the verified purity of the gold jewel which has 91.6% pure gold in it along with the alloy. They are also known as 22-carat gold as the second purest form of gold available, but as opposed to the 24-carat gold a 916 hallmark gold is preferred for jewellery because of its physical properties which is much more harder and stronger than the 24-carat gold.
Gold Import In India
Even after having one of the most elaborate market for Gold, India still does not produce a huge amount of gold and thus does not contribute in meeting the growing demand of gold across the country. India is the second largest importer of gold in the world and the reserve Bank of India controls the flow of gold inside the country.
Import of gold in India requires special license issued by the Directorate General of Foreign Trade. Even for the licensed authorities they need to provide the report of the imported gold, regarding its utilisation along with related proofs to the Central Excise Office. The physical gold thus imported by the licensed authority can only be in the form of gold bars; coins and medals are strictly prohibited.
A person who has been residing the in foreign soil is permitted to import and carry jewellery of up to Rs. 10000, which is doubled in case of a female NRI. When the value of gold is beyond the prescribed free limit then a custom fee of Rs. 250 for each extra 10 gram of gold is applicable, however the maximum limit for such a person to carry gold along with them shall not exceed 10kg in total.
Gold Price In Andhra Pradesh | Gold Price In Visakhapatnam | Gold Price In Vijayawada | Gold Price In Guntur | Gold Price In Tirupati | Gold Price In Nellore | Gold Price In Kurnool | Gold Price In Rajahmundry | Gold Price In Kakinada | Gold Price In Kadapa | Gold Price In Anantapuram | Gold Price In Eluru | Gold Price In Anantapur | Gold Price In Vijayanagaram | Gold Price In Tenali | Gold Price In Ongole | Gold Price In Nandyal | Gold Price In Chittoor | Gold Price In Machilipatnam | Gold Price In Adoni | Gold Price In Proddatur | Gold Price In Hindupur | Gold Price In Bhimavaram | Gold Price In Madanapalle | Gold Price In Guntakal | Gold Price In Srikakulam | Gold Price In Dharmavaram | Gold Price In Gudivada | Gold Price In Narasaraopet | Gold Price In Tadipatri | Gold Price In Kavali | Gold Price In Tadepalligudem | Gold Price In Amaravati