31 C
Gurugram
Tuesday, September 27, 2022

Gold Price In Etawah – Hallmarked 916 Karat Gold

Must read


Gold price by Investorocean.com

Hallmarked 916 Karat Gold in Etawah

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.

Importing Gold

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.

Factors that Influence Gold Rate / Factors Affecting the Gold Rate

The affinity for Gold for Indians is impenetrable and has been tested repeatedly, but the metal has proved its mettle over time. However, the price of gold is not consistent throughout and has had its share of difficulties. There are several factors, which affect the prices of gold in Indian gold market, such as:

The Central Gold Reserve

The central reserve i.e. the Government, when starts to hold or procure gold in their reserve, the price of the gold goes up because of increased cash flow.

Volatility Of Gold

Market volatility in terms of recession or inflation affect the price of Gold. Gold is one investment, which is not effected by inflation as a result when inflation hits, because of the liquidity factor the metal its price goes up.

Gold Interest Rate

An increased interest rate in the market encourages investors to acquire more cash by selling off gold, as such the amount of gold in the market increases and with increase in supply, the rate of gold can drop.

Global Gold Market

As a crisis commodity, Gold is a favoured acquisition for import by the government and market around the globe. More imports from global entities of Gold makes way for increased rate and vice versa.

Domestic Gold Demand

India is primarily in love with the metal, for any occasion such as marriage, and festivals the demand of gold goes up and hence results in increased rates.As unlikeable as it may sound, the price of gold may very well be affected by a good monsoon – and that is because 60% of all consumption of the yellow metal is accounted by the rural sector, which primarily is dependent on a good monsoon for better crops. A decreased monsoon will tend to have excess gold in the market on lesser rate as rural India tends to sell them.

Historical Gold Prices in Etawah

Historical gold prices and trends gives important insight for investment decisions. For the past 10 years the price of gold, in general, has been trending at a higher rate both in the International as well the Indian market. In the US market, the highest during the period was trading as $2000 back in 2011, meanwhile, in the Indian market there had been a steady growth since the same year, with an exception for 2 years in 2014 & 2015. Currently the US gold rate is trending around $ 576.20 and in India, it is at the Rs. 49,420 range. 

There are many factors, which affect the price of the gold, and if you are planning to invest in gold, the factors such as US dollar strength, other global events, central reserves etc. should be considered so as to have decent returns.

Keeping an eye on the current prices as well as the knowledge of the past rates of gold would go a long way in planning investments on the yellow metal. While previous performance is not always predictive of future results, the price history of gold might perhaps give hints as to where it may be going. Looking at historical price data, for example, may aid in detecting uptrends or downtrends. Investors may also notice tradable trends in the price data, which might lead to great buying or selling opportunities.

Gold Price In Uttar Pradesh | Gold Price In Lucknow | Gold Price In Kanpur | Gold Price In Ghaziabad | Gold Price In Agra | Gold Price In Meerut | Gold Price In Varanasi | Gold Price In Allahabad | Gold Price In Bareilly | Gold Price In Aligarh | Gold Price In Moradabad | Gold Price In Saharanpur | Gold Price In Gorakhpur | Gold Price In Noida | Gold Price In Firozabad | Gold Price In Loni | Gold Price In Jhansi | Gold Price In Muzaffarnagar | Gold Price In Mathura | Gold Price In Shahjahanpur | Gold Price In Rampur | Gold Price In Mau | Gold Price In Farrukhabad | Gold Price In Hapur | Gold Price In Etawah | Gold Price In Mirzapur | Gold Price In Bulandshahr | Gold Price In Sambhal | Gold Price In Amroha | Gold Price In Fatehpur | Gold Price In Raebareli | Gold Price In Orai | Gold Price In Bahraich | Gold Price In Jaunpur | Gold Price In Unnao | Gold Price In Budaun | Gold Price In Ballia

Contact US


- Advertisement -

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Contact US


Latest article

Stock Market Trend

Dubai Visa from India

How To File Income Tax Return