Gold Price in Vijayawada today - 28 May

last updated on 28 May 2022

India

0(per gram) (16K)

Gold is an international benchmark of value and quality. Moreover, people in various cities of India like Vijayawada hold this metal in especially high regard. Therefore, gold's demand is always high, despite its ever-increasing cost. Together, these factors make this precious metal an excellent asset, both for investment and as a hedging fund.

However, daily rates of gold vary frequently. Therefore, it is essential to know the prevalent prices before investing.

Gold Prices in Vijayawada for different purity

PurityGold price 1 gramGold price 10 gram

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Gold Prices in Vijayawada for last 7 days

DateGold price 1 gramGold price 10 gram
26 May, 2022₹ 5,400₹ 54,000
25 May, 2022₹ 6,000₹ 60,000
24 May, 2022₹ 6,500₹ 65,000
23 May, 2022₹ 7,000₹ 70,000
22 May, 2022₹ 7,500₹ 75,000
21 May, 2022₹ 6,500₹ 65,000
20 May, 2022₹ 7,500₹ 75,000
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Gold Rates in Vijayawada for Different Purities

Gold is a relatively soft metal in its pure form. It is thus unsuitable for jewellery making. Hardness and other desirable characteristics are improved by alloying with other metals. The proportion of gold in the final piece determines its purity and hence, its value. Purity is measured in Karats. Three varieties of gold are available depending on purity: 24 Karats, 22 Karats, and 18 Karats. The costs of these variants decrease with their Karat values. It is, therefore, crucial to know the rates of all three forms before buying or collateralising.

Gold Prices in Vijayawada in the Last Week

Vijayawada is the second-largest city in Andhra Pradesh and a rapidly growing metropolis. It is also widely known as the state's political, commercial, and educational capital. So naturally, gold enjoys a high demand here. The following table lists its market rates in Vijayawada in the last week. (insert table)

Both demand and value of gold increase steadily. Therefore, it is essential to follow its price trends to make the best investment decision. The following graph shows gold's market rate changes over the last week and month. (insert graph)

Importance of Checking Gold Rates in Vijayawada before Buying

The market rate of a particular day decides the amount of gold you can buy. It also determines the loan amount eligible against your ornaments. Gold loan interest rates are also fixed depending on market rates. Therefore, you must know its prevailing market rates before deciding.

Factors Affecting Gold Rates in Vijayawada

Several factors impact gold prices in Vijayawada. Knowing them can help you make a price prediction for your decision. These factors include:

  • Demand
  • Localised buying trends
  • Global inflation
  • Currency values
  • Interest rates
  • Prevailing tax regulations
  • Government reserves

Calculating Gold Price in Vijayawada

You can use either of two methods to calculate your gold’s value:

  • For purity given in percentage: Value = (purity x weight x rate) / 24
  • For purity given in karats: Value = (purity x weight x rate) / 100 Use these formulae to find the value of your gold on the Rupeek Gold Loan Calculator.
  • To know gold required for loan
  • Step 1: Click on 'Choose required Loan Amount' on the gold loan calculator.
  • Step 2: Enter loan amount required, interest rate, and loan tenure using given sliders. The gold loan calculator displays your monthly interest, total interest, and amount of gold required for your loan.
  • To know the eligible loan amount
  • Step 1: Go to the gold loan calculator and click the 'Choose Available Gold Weight' tab.
  • Step 2: Use the sliders provided to enter your gold amount, purity, interest rate, and tenure. The gold loan calculator will display your total and monthly interests and your eligible loan amount.

Reasons Why Gold Rates Differ between Vijayawada and Other Cities

Market rates of gold in Vijayawada are different from those in other cities. This variation happens due to:

  • Market demand
  • Buying trends
  • Tax rules
  • Jewellery making charges
  • Storage and transportation costs Therefore, you must know the prevailing prices of this precious metal in Vijayawada and other cities. You can then compare them across regions and decide on a suitable time and lender to get optimum returns out of your investment.
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