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Gold Price in Jalandhar today -
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Jalandhar

Jalandhar one of the most ancient cities in Punjab lies around 150 kms from Chandigarh and 80 kms from Amritsar. True to its moniker as the ancient city, Jalandhar’s roots can be traced back to the Indus Valley Civilization; since then it was invaded by several invasions by the Ghaznavids, the Mughals, the Persians, the Afghans, and the British. Hinduism and Sikhism are the two majorly followed religions in this city which makes the Gurdwara Guru Tegh Bahadur Nagar a famous religious destination. Jalandhar is known for manufacturing sporting equipment which is then exported to different countries. Gold is a popular investment option in this city due to which gold rate in Jalandhar is a closely followed parameter by many. Leather industry, furniture, glass, hand tools, and industrial tools are among other industries that flourish in Jalandhar. The medical system is also commendable in the city with 800 hospitals, drawing patients from all over the country to receive treatment.

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Gold Prices in Jalandhar for different purity

Purity
Gold price 1 gram Gold price 10 gram

Gold Prices in Jalandhar for last 7 days

Date Gold price 1 gram Gold price 10 gram

Effect of GST on Gold Prices.

The implementation of GST has particularly affected the prices of commodities like gold.

Effect of GST on Gold Prices

As per the new tax structure, the GST on gold is set at 3% for both finished and unfinished products, which will be paid by the end consumer.

Apart from this, the tax regime also levies an additional 5% on making charges of gold jewellery. The additional charges have upshot the price of gold as there were no making charges in the previous taxation system. This rate is, however, a revised version which was initially set at 18%. The initial GST on making charges would have affected the prices of the finished products massively since end-consumers had to bear all the expenses. However, the 3% GST, the 10% import duty, and 5% making charges have made the yellow metal’s price increase by 0.75%.

Benefits of investing in gold

There are several reasons to put your gold to good use. For starters, people are always looking for the best way to generate high returns. On that note, gold has forever been the conservative investor's best avenue for yielding high returns. With the introduction of Gold ETFs and Sovereign Gold Bonds, the demand for gold has been steadily increasing. The top advantage of gold against cash is that the gold gram rate has never dipped below zero in it’s more than 3000-years' history. Gold also functions as a hedge against financial market fluctuations. Hence, whenever there is a recession, people move towards gold. Additionally, gold is a liquid asset, which means you can either sell it or pledge it in exchange for instant cash loan. Unlike physical money, gold is portable and can be stored anywhere. Lastly, identifying high-quality gold does not require expert understanding. Anyone can buy gold according to its purity while the seller's certificate acts as the proof of its purity. 

Why is Gold considered a Precious Metal?

Gold is universally acknowledged as a valuable commodity pertaining to its unique properties, such as:

  • Finite availability

Gold is available in limited quantities. The best estimates suggest that about 197,576 tonnes of gold have been mined throughout history. In fact, if every ounce of this gold is arranged in a cube, each side of this cube will only measure about 21 metres.

  • High Demand

The price of gold tends to rise over time. This is because its demand is exceedingly high in countries India, but the supply is limited.

  • Idle Asset

Gold is a highly liquid, non-consumable asset. Additionally, this metal retains an active market at almost all times. So, individuals can easily convert their gold to cash whenever they want.

  • Economic impact

It impacts economies in terms of contribution to foreign exchange and trade balance. Furthermore, gold is used as a reserve to hedge against inflation in most free-market economies globally.

Difference between 18 Karat, 22 Karat and 24 Karat gold

'Karat' represents the proportion of gold present in an alloy. It indicates the fineness of gold, which implies that the higher the karat, the more the purity of gold.

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Jalandhar
Punjab
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