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Check out today's gold rate in Ahmedabad. Compare 22-carat and 24-carat gold prices per gram in Ahmedabad & get the best value for your money.
Updated on : 23 Dec 2024
22-carat gold Rate
₹ 7,105
(Per Gram)
24-carat gold Rate
₹ 7,750
(Per Gram)
Carat | Gold Rate Yesterday | Gold Rate Today | Price Change |
---|---|---|---|
22 Carat | ₹ 7,105 | ₹ 7,105 | ₹ 0 |
24 Carat | ₹ 7,750 | ₹ 7,750 | ₹ 0 |
Gram | 24 Carat Gold Price Yesterday | 24 Carat Gold Price Today | Price Change |
---|---|---|---|
1 GRAM | ₹ 7,750 | ₹ 7,750 | ₹ 0 |
8 GRAM | ₹ 62,000 | ₹ 62,000 | ₹ 0 |
10 GRAM | ₹ 77,500 | ₹ 77,500 | ₹ 0 |
100 GRAM | ₹ 7,75,000 | ₹ 7,75,000 | ₹ 0 |
Gram | 916 KDM Gold Rate Yesterday | 916 KDM Gold Rate Today | Price Change |
---|---|---|---|
1 GRAM | ₹ 7,105 | ₹ 7,105 | ₹ 0 |
8 GRAM | ₹ 56,840 | ₹ 56,840 | ₹ 0 |
10 GRAM | ₹ 71,050 | ₹ 71,050 | ₹ 0 |
100 GRAM | ₹ 7,10,500 | ₹ 7,10,500 | ₹ 0 |
Gram | 22 Carat Gold Price Yesterday | 22 Carat Gold Price Today | Price Change |
---|---|---|---|
1 GRAM | ₹ 7,105 | ₹ 7,105 | ₹ 0 |
8 GRAM | ₹ 56,840 | ₹ 56,840 | ₹ 0 |
10 GRAM | ₹ 71,050 | ₹ 71,050 | ₹ 0 |
100 GRAM | ₹ 7,10,500 | ₹ 7,10,500 | ₹ 0 |
Date | Pure Gold - 24 K | Standard Gold - 22 K |
---|---|---|
Dec 22, 2024 | Rs. 7,105 (0) | Rs. 7,750 (0) |
Dec 21, 2024 | Rs. 7,105 (60) | Rs. 7,750 (65) |
Dec 20, 2024 | Rs. 7,045 (-30) | Rs. 7,685 (-33) |
Dec 19, 2024 | Rs. 7,075 (-65) | Rs. 7,718 (-71) |
Dec 18, 2024 | Rs. 7,140 (-15) | Rs. 7,789 (-16) |
Dec 17, 2024 | Rs. 7,155 (10) | Rs. 7,805 (11) |
Dec 16, 2024 | Rs. 7,145 (0) | Rs. 7,794 (0) |
Dec 15, 2024 | Rs. 7,145 (0) | Rs. 7,794 (0) |
Dec 14, 2024 | Rs. 7,145 (-90) | Rs. 7,145 (-90) |
Gold Rates | 22 Carat | 24 Carat |
---|---|---|
1 st December rate | Rs. 7,155 | Rs. 7,805 |
23th December rate | Rs. 7,105 | Rs. 7,750 |
Highest rate in December | Rs. 7,290 on December 11 | Rs. 7,952 on December 11 |
Lowest rate in December | Rs. 7,045 on December 20 | Rs. 7,685 on December 20 |
Over all performance | Falling | Falling |
% Change | -0.70% | -0.70% |
Gold Rates | 22 Carat | 24 Carat |
---|---|---|
1 st November rate | Rs. 7,390 | Rs. 8,061 |
30th November rate | Rs. 7,155 | Rs. 7,805 |
Highest rate in November | Rs. 7,390 on November 1 | Rs. 8,061 on November 1 |
Lowest rate in November | Rs. 6,940 on November 14 | Rs. 7,570 on November 14 |
Over all performance | Falling | Falling |
% Change | -3.18% | -3.18% |
Gold Rates | 22 Carat | 24 Carat |
---|---|---|
1 st October rate | Rs. 7,055 | Rs.7,696 |
31st October rate | Rs. 7,460 | Rs.8,127 |
Highest rate in October | Rs. 7,460 on October 31 | Rs. 8,127 on October 31 |
Lowest rate in October | Rs. 7,030 on October 10 | Rs. 7,669 on October 10 |
Over all performance | Rising | Rising |
% Change | +5.74% | +5.60% |
Gold is used as a standard of value for currencies all over the world. Gold is denominated in U.S. dollars, and the price of gold can fluctuate with market conditions. Gold is often viewed as a safe commodity to invest in, but it also a highly speculative asset linked to currencies and interest rates
Even with rising prices, gold is viewed as a safe mode for investment. Gold is more accessible to the average investor because it can be easily purchased in the form of jewelry, coins, and gold bullion (gold in its physical form). However, with the advent of more advanced financial instruments, gold has become much easier to invest in without having to buy it in its physical form. There are gold exchange-traded funds (ETF) that imitate the movements of physical gold, giving investors direct exposure.
The purity of gold is measured in karats, whereas the weight of gold is measured in troy ounces (1 troy ounce = 31.1034768 grams).
A karat is used to denote the purity of gold. 24-karat gold is pure gold, but it is extremely malleable. Hence, it is mixed with a metal like copper or silver to make jewelry. One karat is equal to 1/24th of the whole. So, if a piece of gold is marked 18-karat, it means that it is made of 18 parts gold and 6 parts copper.
24 karat is 99.9% of gold while 22 karat is 91.6% is pure. That is why the price of 24 karat gold is higher than 22 karat gold.
Following is the fineness scale which is used while defining the purity of gold:
24 K = 99.9% Pure
22 K = 91.6% Pure
18 K = 75% Pure
14 K = 58.5% Pure
10 K = 41.7% Pure
Fun fact: Gold has many uses aside from its monetary value. Among other applications, it is used in medicine, electronics, electrical wiring, dentistry, radiation shielding, and space technology.
While the demand for gold has a role to play in its fluctuating price, there are several other factors that determine the price of gold. Following is an overview of some of the factors that affect the price of gold in Ahmedabad:
Global crisis and unrest
Because gold prices tend to rise during times of unrest and war, it often gets called a crisis commodity. World events often have a strong impact on the price of gold because gold is viewed as a hedge against economic or geopolitical tumult.
Central bank crisis
During times of bank failures and irregular economic policies, people flock to gold since it is a safe investment. When the currency system experiences uncertainty, investors prefer the physical and tangible security of holding gold. In turn, an increased demand drives up the value of gold.
Value of the US dollar
Since gold is priced in U.S. dollars, the value of the dollar largely impacts the price of gold. A falling dollar pushes up gold prices and vice versa. Conversely, a strengthening U.S. dollar (that often comes about because of a growing U.S. economy) pushes down gold prices. Note that gold and the U.S. dollar have an inverse relationship. When the US dollar is strong, investors invest in the currency rather than in the precious metal.
Central banks
The central banks of various countries control the money supply, oversee monetary policy and currency, set interest rates and attempt to manage inflation. Central Banks also buy gold as a hedge against the US dollar (gold and the US dollar have an inverse relationship). Holding physical gold also strengthens a nation’s currency. This affects gold prices.
Supply and demand
Simple supply-and-demand can influence physical gold prices. As with any product, increased demand along with a low supply causes the price to go up. Conversely, an overabundance of a product or service coupled with a feeble demand can cause the price to spiral down. The same principle applies to gold. Traditionally, there is a surge in gold demand during festive seasons, leading to a rise in gold prices.
Inflation
When inflation rises, the value of the currency goes down and therefore people invest in gold in order to hedge themselves from falling currency value. Hence, during times of inflation, especially over a longer period, gold becomes a valuable tool to hedge against economic uncertainties.
Apart from the above-mentioned factors, when demand for gold increases in the international market, the price of gold naturally increases in Ahmedabad too. It is important to note that gold prices can also vary across different states in India. This is due to the transportation cost associated with gold. Again, demand and supply influence the price of domestic gold.
Gold is one of the most sought-after commodities in India, especially during festive seasons, when jewelers announce discounts and sales. Gold holds an important part in Indian culture, which is why it is much sought after.
Commonly, gold is bought as a form of investment due to its ever-increasing price. Following are some of the factors to keep in mind if youre looking to buy gold in Ahmedabad.
The purity of gold: The first thing to keep in mind is the purity—measured in karats—of gold. 24 karat is 99.9% of pure gold while 22 karat is 91.6% pure. Following is the fineness scale which is used while defining the purity of gold:
24 K = 99.9% Pure
22 K = 91.6% Pure
18 K = 75% Pure
14 K = 58.5% Pure
10 K = 41.7% Pure
When you buy gold jewelry, always check for its purity. The easiest way to check for the purity of gold is to look for hallmarking. A hallmarked piece of jewelry can be trusted for its authenticity and purity. It tells you the amount of gold in proportion with the metal alloyed. The Bureau of Indian Standards (BIS) is the accreditation agency that certifies and hallmarks gold jewelry by operating a hallmarking scheme.
Understand the Hallmarking of Gold: When you check for purity, it is important to understand how hallmarking works. Assaying and Hallmarking centers certified by the Bureau of Indian Standards (BIS) assess the gold quality sold by the jewelers. Only jewelers granted a licensee can get their gold jewelry assayed and hallmarked for purity by BIS-recognized Assaying and Hallmarking Centers in India.
Check the price of Gold: India is one of the largest importers of gold in the world. All gold supplies are imported from overseas. This means the price of gold in Ahmedabad is greatly influenced by the international market and currency fluctuations, and hence fluctuates on a daily basis. Before buying gold in Ahmedabad, always check the per gram price on a reputed website like CreditMantri.
Disclaimer: The information on the prices of the gold rate is merely indicative and is susceptible to change with market value and is provided on an as-is basis. The information contained here is not intended as investment advice. CreditMantri is in no way responsible for any loss arising from the use of data contained on this website.
1. What are the options available when investing in gold?
Typically, investors looking to invest in gold have three choices: they can purchase gold in its physical form, they can purchase an ETF that imitates the price of gold, or they can trade futures and options in the commodities market.
2. Why gold prices in Ahmedabad differ from other cities?
Gold is a precious commodity in Ahmedabad that is imported from overseas. Cities that have ports have the chance of accessing gold much quicker. Due to the number of logistics involved, gold prices may vary from state to state and in different cities.
3. Why is 24K gold expensive than 22K gold?
The higher the karat number, the higher the percentage of pure gold in the jewelry. Hence, the higher the karat, the higher the cost.
4. Which gold is better to buy, 22 karats or 24 karats?
24 K is the purest form of gold. 24 K is expensive than 22 K gold, as well as extremely pliable. Hence, if you are buying gold jewelry, 22 K is preferred by many as it lasts longer for jewelry.
5. What is a hallmark?
Any certified jewelry that has a hallmark will come with a number attached to it. It also has a BIS stamp on it. The gold has the jeweler’s identification mark and the year of hallmark. This certifies the gold’s purity.
6. Where can I get a regular update on gold rates in Ahmedabad?
2You can check online portals such as CreditMantri for the latest gold prices in Ahmedabad.
7. What are the taxes when buying gold jewelry in Ahmedabad?
With the introduction of Goods and Services Tax (GST) in India, the customer is required to pay 3% on the value of the gold jewelry, including making charges.