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Gold Price in Jodhpur today -
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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?

Gold rates in India are determined by an array of factors. It could be the supply of gold in comparison to its demand both locally as well as globally, inflationary rates, the gold reserves present in the possession of the government, ongoing import and interest rates, taxes and levies. These are only some of the several micro and macroeconomic factors that could affect gold rates.

As a rational borrower with a personal stake, you need to be aware of the gold rate in cityname. There is almost always a variation between the gold price in the market as compared to the valuation that the lender offers. This is because lenders follow a unique way of evaluating gold. They arrive at the price by taking the average of 22 Karat gold from the past thirty days. Hence, your gold valuationdepends on this average price as well as the lender's loan-value ratio. Recently, the RBI has ruled that lenders can disburse loans of up to 90% of gold's market value until March 31, 2021.

How to calculate old gold jewellery price?

Indians usually attach a lot of sentimental value to their gold. Apart from jewelry, gold s used for several other purposes such as investment, hedging, or for availing an instant loan. If you choose to pledge your gold as collateral security, you must understand how your gold is valued. Here is how you can calculate the price of your gold jewelry.

1) To ascertain the purity and quality of your gold, take it to the nearest assaying center.

2) The assaying center presents the purity of the gold in terms of Karat or as a percentage figure.

3) If you wish to calculate the value of your gold using the 

  1. a) Karat purity method: Multiply the gold’s weight, purity, and gold rate and divide it by 24. 
  2. b) Percentage purity method: Multiply the gold’s weight, purity, and gold rate and divide it by 100.

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. 

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Jodhpur
Rajasthan
city
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