Karimnagar

Gold Price in Karimnagar today -
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Karimnagar

After Telangana emerged newly from the state split, Karimnagar became one of the largest and the fastest-growing cities there. The majestic river Manair, a tributary of the River Godavari flows adjacent to the city of Karimnagar. Karimagar derives its name ‘City of Granites’ from its famous granites in the country. It is also famous for its agro and service industries. Gold rate in Karimnagar is the most sought after by the people in the city for their gold purchases. Karimnagar serves as a famous healthcare destination for people in and around that locality due to its strategic location. From this popularity stems the two most popular medical institutions in Karimnagar - Prathima Institute of Medical Sciences and Chalmeda Anand Rao Institute of Medical Sciences. Lower Manair Dam, Ujwala Park, Deer Park, and the Manair River are some of the most visited tourist spots in the city.

Gold Prices in Karimnagar for different purity

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Gold Prices in Karimnagar for last 7 days

Date Gold price 1 gram Gold price 10 gram

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How is Gold’s purity determined?

Gold is one of the most valuable metals known to humankind, and it can be used for multiple purposes. Besides, making jewellery, gold is also commonly used to avail funds during a financial crunch.

Thus, it is vital to measure the purity of gold to make the most of its equity. Following are some of the ways.

  • Karat System

It constitutes one of the most common ways to determine the quality and purity of gold. Denoted by “K”, this measurement system depends on a scale that ranges from 0 to 24. For instance, a god article of 1 Karat means that that particular gold item consists of 1 part of gold and 23 parts of other metals or alloys. It also means, the closer to 24K, the purer the gold.

  • Hallmarking

Most gold articles, including jewellery, come with an inscription called “hallmark” that carries the symbol of gold purity, its fineness, date of manufacturing, etc. Most countries, including India, have mandated gold jewellers to carry the BIS hallmark.

  • Other Methods

Besides these, most traders use conventional acid test or use an electronic gold tester to determine gold purity accurately.

Irrespective of the method, assessing gold purity is essential for both buyers and traders.

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.

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.

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. 

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Karimnagar
Telangana
city
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