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Gold Price in Gurgaon today -
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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.

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Gold Prices in Gurgaon for different purity

Purity
Gold price 1 gram Gold price 10 gram

Gold Prices in Gurgaon for last 7 days

Date Gold price 1 gram Gold price 10 gram

KDM vs Hallmark gold - What's the difference?

The purity and quality of gold is something buyers are always apprehensive of. There are different types of gold that buyers can choose from. Buyers often have a tough time distinguishing between the Hallmark gold and the KDM gold. 

1) Hallmark Gold: Hallmark gold is the type of gold upon which, tests are conducted at assaying centers and is approved for sale by the Bureau of Indian Standards (BIS). Hallmark gold is available in four varieties being 23 Karat, 22 Karat, 21 Karat, and 18 Karat.

2) KDM Gold: KDM gold is a type of gold made combining 8% cadmium with 92% gold. Not only does this tamper with the purity of gold, but it also has certain health risks associated with it because of which the production of this gold has been terminated. 

How to calculate old gold jewellery price?

Indians have traditionally used gold for investment purposes. Gold is considered a hedge against financial disruptions. However, when you want to sell gold for meeting urgent financial needs, you should be aware of how old gold jewellery is valued. The right knowledge would keep you safe against unscrupulous jewellers. To calculate the value of gold, you have to take it to the nearest assaying or testing laboratory and get its weight and purity tested. The centre certifies gold's purity in Karat or percentage. To calculate the value of the old gold jewellery by the Karat purity method, you have to multiply the gold's weight, purity, and gold rate and divide it by 24. To calculate the value of the old gold jewellery by the percentage purity method, you have to multiply the gold's weight, purity, and gold rate and divide it by 100.

Difference between 18 Karat, 22 Karat and 24 Karat gold

“Karat” is the internationally recognized term used to denote the purity and weight of gold. Higher the Karat, better the purity of gold. 

1) 24 Karat: 24 Karat gold is the purest and most expensive form of gold found in the market. Owing to it’s pliability 24-Karat gold is not usually used to make jewellery and is instead used for investment purposes, in the form of coins or bars. 

2) 22 Karat: 22 Karat gold is generally used in the jewellery industry. In this type, pure gold is mixed with several alloys like zinc, nickel, or silver to make the gold harder and fit for jewellery. Generally, 22 Karat gold is 91.67% pure. 

3)18 Karat: 18 Karat gold is the gold that is prepared by mixing 75% gold with 25% other alloys. 18 Karat gold is the cheapest type of gold available in the market.

What is QE and how does it affect Gold Prices?

QE or Quantitative Easing is a monetary policy that governments and central banks globally use to stimulate the economy. Typically, this policy comes into action when other monetary policies become ineffective.

Under QE, banks start printing and injecting money into the economy by purchasing assets. This method ultimately swells up the bank reserves and lowers the interest rates, which, in turn, increases economic activities. The recession in 2008 witnessed the application of this theory worldwide.

Central banks in major economies like the USA, Japan, and certain European countries started enforcing this system to encourage banks to lend. This economic policy shares a close relationship with the value of gold.

This relationship is inversely proportionate. It means when the injection of the paper currency increases in a system, the price of gold drops. Even though the presence of additional money in the system may seem like the gold price is increasing, the reality is quite the opposite.

When compared with other papers assets like stocks and bonds, the price of gold remains mostly similar or may go down in certain cases.

A concept to know here is Quantitative Easing Tapering. It means when central banks decide to stop printing currency, it creates a vacuum in the system. Therefore, less amount of money is chasing the same amount of gold. Consequently, the price of gold skyrockets owing to the laws of supply and demand.

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Gurgaon
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