close btn

Service Update- (Covid-19)

In accordance with the respective state government’s directive, we’ve resumed operations in all the cities. However, a few services will remain affected while others will continue as usual. To read about the services or moratorium updates, Click here

Gold Price in Kakinada today -
last updated on

Kakinada

Kakinada, the Andhra Pradesh city with the second largest sprawling port in the country lies on the Bay of Bengal coast. The proximity to the waters naturally made it a trading post during the Dutch and British rule in India. The city’s primary source of income is through port-related activities, fishing, agriculture and industrial units. Apart from this several IT and the base for ONGC’s Eastern Offshore Asset are found in this well-planned city. People in Kakinada are fond of gold as a commodity and look to buy it for wedding purposes. Gold rate in Kakinada is a key factor to take into account while customers buy jewellery. Kakinada has also produced some great Telugu film stars and scholars. There are some popular tourist destinations in and around the city like Kakinada Beach, Coringa Wildlife Sanctuary, Hope Island, Uppada Beach and Shri Bhavanarayana Swamy Temple

Gold Price in Major Cities

City Gold Price Change

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

approved badge
  • monthly interest

    0.79%* monthly Interest (9.69% P.A.)*

    Save more with low interest rate
  • per gram rate

    Highest Per Gram Rate Guaranteed

    Get the true value of your Gold
  • trophy

    GooglePlay 4.8+

    High Ratings 13,000+ Reviews
Please enter valid Mobile Number

Gold Prices in Kakinada for different purity

Purity
Gold price 1 gram Gold price 10 gram

Gold Prices in Kakinada for last 7 days

Date Gold price 1 gram Gold price 10 gram

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

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 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.

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.

Gold Price Calculator

Dummy image
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

Kakinada
Andhra Pradesh
city
[{"state":"Andhra Pradesh","city":"Visakhapatnam"},{"state":"Uttar Pradesh","city":"Ghaziabad"},{"state":"Punjab","city":"Jalandhar"},{"state":"Punjab","city":"Amritsar"}]