Ludhiana

Gold Price in Ludhiana today -
last updated on

Ludhiana

Popularly called as India’s Manchester Ludhiana is large is many ways. Apart from being the one of the largest cities in the whole of Punjab and north of Delhi, it is also supposedly the biggest industrial city in North India. It is located strategically between Delhi, Amritsar, and Chandigarh favouring ease in business and trade. The history of the current Ludhiana goes back to 1940 when Sikhander Lodhi, the Sultan of Lodhi dynasty sent two emissaries in 1480 to claim control over the land. Automotive parts, industrial goods, sewing machines, hosiery, machine parts, garments, textile, and household appliances are some of the prominent manufacturing industries in the city. The residents here also flock jewellery shops for wedding purposes and monitor the gold rate in Ludhiana. Much like most cities in the north Ludhiana too is religiously dominated by Hindus, followed by Sikhs, Muslims, and Christians. The largest

Gold Prices in Ludhiana for different purity

Purity
Gold price 1 gram Gold price 10 gram

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

approved badge
  • monthly interest

    0.49% monthly Interest (5.88% P.A.)*

    Save more with low interest rate
  • per gram rate

    Highest Per Gram Rate Guaranteed

    Get the true value of your Gold
  • trophy

    Google Play 4.6

    Highest Ratings 17,000+ Reviews
Please enter valid Mobile Number

Gold Prices in Ludhiana for last 7 days

Date Gold price 1 gram Gold price 10 gram

Gold Price in Major Cities

City Gold Price Change

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.

KDM vs Hallmark gold - What's the difference?

The purity and quality of gold is something buyers are always apprehensive of. There are different types of gold that buyers can choose from. Buyers often have a tough time distinguishing between the Hallmark gold and the KDM gold. 

1) Hallmark Gold: Hallmark gold is the type of gold upon which, tests are conducted at assaying centers and is approved for sale by the Bureau of Indian Standards (BIS). Hallmark gold is available in four varieties being 23 Karat, 22 Karat, 21 Karat, and 18 Karat.

2) KDM Gold: KDM gold is a type of gold made combining 8% cadmium with 92% gold. Not only does this tamper with the purity of gold, but it also has certain health risks associated with it because of which the production of this gold has been terminated. 

Effect of GST on Gold Prices.

GST or Goods and Services Tax came into effect on 1st July 2017 by subsuming the repetitive tax structure of the previous regime and bringing transparency and accountability in the taxation system.

The implementation of this new tax regime has left a considerable effect on the prices of several commodities, of which gold accrues enormous importance due to its national and international demand.

Under the new tax regime, the GST on gold was fixed at 3% with an additional 8% tax on the making charges and import duty of 10%. Later, the making charges tax was revised and reduced to 5%. As a whole, the yellow metal has become expensive by 0.75% in the post-GST era.

A primary reason that accounts for the rising gold price is 10% import duty. However, traders have managed to evade that by importing gold from countries like South Korea, with which India shares the Free Trade Agreement. 

Benefits of investing in gold

In its history of more than 3000 years, never has the value of gold dipped below zero. It has always remained a valuable commodity in the face of the Earth. Gold is a nice option to invest your funds in. Its value not only has remained relatively consistent throughout history, but the demand for it has also been steadily rising. If you are looking to get high returns on your investments, gold is the answer. People also move towards gold whenever recessions occur. In that case, it functions as a hedge against the fluctuations in the market. It is one of the most liquid assets in the world. It can be sold or placed as collateral to obtain funds in return. It is also very storage-friendly. Unlike dealing in the stock market, dealing in gold or identifying its value or quality doesn’t require much skill or expertise as the purity of the gold is also always certified by the seller.

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

Ludhiana
Punjab
city
[{"state":"Maharashtra","city":"Amravati"},{"state":"Maharashtra","city":"Mumbai"},{"state":"Punjab","city":"Patiala"},{"state":"Rajasthan","city":"Jaipur"}]