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Gold Price in Jodhpur today -
last updated on

Jodhpur

Rajasthan’s second largest city Jodhpur, is also called the ‘Blue City’. Its strategic location serves as a base for the Indian Air Force, Indian Army, and BSF. Asia’s largest – the South Western Air Command is located here in Jodhpur. It was once the capital of the erstwhile Kingdom of Marwar. Agriculture being the topmost revenue getter, industries like chemical, electronics, electrical, wooden toys, industrial gases, cement, handicrafts, and motion pictures to contribute to the economy. People in Jodhpur follow traditions of wearing heavy gold ornaments for festive occasions and wedding, hence gold is bought highly in this region. Customers need to be aware of the gold rate in Jodhpur to buy gold jewellery. Major academic and research institutions, such as IIT Jodhpur, AIIMS Jodhpur, NIFT Jodhpur, ISRO, DRDO are situated in Jodhpur. There are some unmissable places to visit in Jodhpur like Mehrangarh Fort, Jaswant Thada, Umaid Bhawan Palace, Balsamand Lake, Machiya Safari Park, and Mandore Gardens. Tourists savour street food like Makhaniya Lassi, Miorchi Bada, Mawa ki Kachori, and Pyaaj Ki Kachori which is made specially in Jodhpur.

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Gold Prices in Jodhpur for different purity

Purity
Gold price 1 gram Gold price 10 gram

Gold Prices in Jodhpur for last 7 days

Date Gold price 1 gram Gold price 10 gram

How is gold rate determined?

The price of gold in India depends on multiple factors. This includes, but is not limited to the following factors:

1) Gold production

2) Inflation

3) Government's gold reserves

4) Demand and supply of gold in the global commodity market

5) Import rates

6) Interest rates

7) Taxes and levies

8) Local demand. 

As a denizen and fellow gold loan borrower, it is imperative for you to stay updated about the latest gold rate in cityname. It is not unusual to find a little variation between the market gold price and the gold valuation offered by the lender. The difference in price primarily occurs because the lender calculates the average gold price of 22-Karat gold based on the rates from the past thirty days and extrapolates the gold gram rate. Hence, the value of the gold you get depends on the average gold price and the lender's loan to value ratio. As per the recent directive of the RBI, lenders can give loans of up to 90% of the gold's market value till March 31, 2021.

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 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' 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.

https://docs.google.com/spreadsheets/d/1eHzF-lCrWDV0KRukdDCeGKq5bSgWjrlfe5oVev7nIec/edit?usp=sharing

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Jodhpur
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