Gurgaon

Gold Price in Gurgaon today -
last updated on

Gurgaon

Gurugram, formerly called as Gurgaon has the sobriquet ‘the city of skyscrapers’. True to its name the city is dotted with headquarters of big MNCs like Xerox, Accenture, Abbot, Adidas, Air France, American Express. It is for this reason that it is rightfully called the technological and financial hub of the National Capital Region. Power loom weaving and automobiles are some of the key manufacturing activities. Surprisingly Gurgaon has more number of shopping malls than any other city in India. It is never a dull moment in the city as travellers flock here to visit the prominent tourist spots like Damdama Lake, Leisure Valley Park, Sheetla Mata Mandir, Sohna Lake, Sultanpur Bird Sanctuary, Vintage Camera Museum, and NeverEnuf Garden Railway, despite Gurgaon being a corporate hub. Purchasing gold and keeping a close track of the highs and lows of the gold rate in Gurgaon is a norm here. Gurgaon also has excitement in store for children as it has three amusement parks, Wet and Wild Resort, Sky Jumper Trampoline Park, and Oyster's Water Park, which are ideal to visit on weekends.

Gold Prices in Gurgaon for different purity

Purity
Gold price 1 gram Gold price 10 gram

Take a pre-approved gold loan at the comfort of your home

approved badge
  • monthly interest

    0.69% monthly Interest (8.28% P.A.)*

    Save more with low interest rate
  • per gram rate

    Highest Per Gram Rate Guaranteed

    Get the true value of your Gold
  • trophy

    Google Play 4.6

    Highest Ratings 17,000+ Reviews
Please enter valid Mobile Number

Gold Prices in Gurgaon for last 7 days

Date Gold price 1 gram Gold price 10 gram

Gold Price in Major Cities

City Gold Price Change

Why is Gold considered a Precious Metal?

Gold derives this value from several factors, some of which are listed below:

  • Rarity

Gold, in its elemental form, is a relatively hefty atom. Although it is not the rarest of metals, it isn’t easy to find and extract gold in large quantities. This contributes to its high perceived value.

  • Demand-Supply Disparity

Gold is a highly coveted metal in a county like India. So, it generally enjoys a high demand all year round, but its supply falls short to meet that. As a result, gold prices tend to increase with time.

  • Liquidity

One of gold’s many attractive aspects is its liquidity. Gold has an active, reliable and a ready market of buyers at almost all times. As a result, it can be readily converted to cash, which makes it a highly liquid asset.

  • Standard of Exchange

It is universally accepted as a commodity of value, especially under a free market system. Gold reserves ensure the strength and stability of the currency and eliminate the pitfalls of fiat money.

Effect of GST on Gold Prices.

Goods and Services Tax has unified the earlier payable taxes like Value Added Tax (VAT), Customs duty, Central Excise duty, etc., and the whole indirect tax structure has been brought under one umbrella.

  • GST on Gold

GST on gold is levied when individuals opt for buying gold jewellery or bars. Individuals need to pay several taxes depending on the various processes involved in gold trading, manufacturing, and purchasing. To be precise, individuals need to pay GST of 5% on making charges, 10% on import duty and 3% on gold. However, the GST on making charges is a product of the new tax regime.

  • Impact of GST on Gold Prices

The new tax structure and implementation of several taxes have made gold expensive by 0.75%. Apart from the impact on gold prices, GST has stretched its effects on gold imports as well as across the organised and unorganised sectors, which are invariably linked with the increasing price of gold. 

How is Gold’s purity determined?

Gold holds an impeccable value in terms of quantifying one’s wealth as well as for investment. Thus, judging the quality and purity of gold is of utmost importance, both for buyers and for traders.

Primarily, the gold’s purity is determined through the Karat system that measures the same on a scale from 0 to 24. For instance, a 24 karats gold jewellery contains 100% gold. On the other hand, in a 14K gold jewellery, the percentage of gold is 58.33%, and the rest is other metal or alloy.

The gold purity can be measured both by percentage and parts per thousand. However, to convert the Karat into a percentage, one needs to divide the Karat number by 24 and then multiply it by 100.

Another easy way to determine gold’s purity is by checking the hallmark stamp on gold jewellery. This hallmark includes the authorised logo, date of manufacturing, carat weight or fineness of the gold in question. In several countries, including India, it is mandatory to sell gold jewellery with hallmark stamp. 

Lastly, the traders generally use an electronic gold tester to measure the quality and purity of gold. It shows the result accurately within seconds.

How is gold rate determined?

There are many micro and macroeconomic factors that determine the gold rates in India. Some of the factors that influence that gold rates are: gold production, inflation, government’s gold reserves, demand and supply of the gold commodity in the market, import rates, interest rates, taxes, local demand, etc. Since an unprecedented emergency is likely to arise at any moment, being a resident here, it is good to have an eye on the latest gold rates in cityname. The market price of the gold and the gold valuation offered by the lender is likely to vary. The lender calculates the average gold price of 22-Karat gold according to the rates from the past thirty dates. This is how the lender concludes on the gold gram rate. The value of the gold loan that you get is dependent on two factors – the average gold price and the lender’s LTV (loan to value) ratio. The RBI has also directed the lender to disburse up to 90% of the market value of the gold till March 31, 2021.

Gold Price Calculator

Dummy image

Gold Price in major cities

gold img
Apply for Gold Loan 30 Minutes Doorstep Service
close
+91
Please enter valid Mobile Number
close
success img

Loan Request Successful

Your request has been received, our customer relationship manager has been notified and will call you shortly

Gurgaon
Haryana
city
[{"state":"Maharashtra","city":"Kolhapur"},{"state":"Karnataka","city":"Belgaum"},{"state":"Maharashtra","city":"Aurangabad"},{"state":"Andhra Pradesh","city":"Visakhapatnam"}]