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Gold Price in Warangal today -
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Warangal

Warangal, a modern city today in Telangana was once the helm of power of Kakatiya dynasty in the 12th century. The flavour of the past and impressive architectural heritage can still be seen through UNESCO recognized world heritage sites, such as the Thousand Pillar Temple, Warangal Fort, and Ramalingeswara Temple. Parallelly, there is tremendous economic growth in the city where gold business flourishes. People buy gold enthusiastically for wedding, investment purposes and are always eager to know the gold rate in Warangal. The floral festival of Bathukamma and Sammakka Saralamma Jatara, a festival celebrated in honour the Goddess of Medaram are the most pompously celebrated festivals in Warangal.

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Gold Prices in Warangal for different purity

Purity
Gold price 1 gram Gold price 10 gram

Gold Prices in Warangal for last 7 days

Date Gold price 1 gram Gold price 10 gram

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.

What is QE and how does it affect Gold Prices?

Quantitative easing, or commonly known as QE, is an economic policy. It comes into action, in case other policies have run out of steam and stopped working.

  • Definition of Quantitative Easing:QE is monetary policy that promotes the idea of injecting money into an economy not by regulations, but instead via printing currency. Typically QE is regarded as a short-term solution to boost the economy after a crisis.
  • Significance of QE:Typically, Central Banks around the world uses interest rate manipulation as the primary technique to control the flow of money in an economy. However, lowering interest rates did not work during the economic downturn of 2008 and countries resorted to this method.
  • The Methodology of QE:As already mentioned, central banks inject money into an economy with this method. In case, the inflation is low, and banks are not lending, central banks then print new money and buy assets. This sudden increase in money drops interest rates and the value of a currency, which prompts banks to lend at a lower rate. Resultantly, economic activities increase.

The connection between QE and Gold is inversely proportional. It means, with the implementation of quantitative easing, the price of gold drops and vice versa. Thus, conservative investors, who believe gold is the future, advises investing more in gold, instead of other modes.

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.

KDM vs Hallmark gold - What's the difference?

The purity of the gold and the quality of the gold are two different factors that people often get confused over. Hallmark gold and KDM gold are the two types of gold that usually leads to some confusion. The two types of gold are considerably different with regards to their composition. The KDM gold has a purity level of 92%, where the gold is a mixture of 8% of cadmium and 92% of gold. Since there are some health risks associated with KDM gold, it is no longer in sale in the market. On the other hand, Hallmark gold has a certification by the Bureau of Indian Standards. The Hallmark gold is testes in assaying centers approved by the BIS. There are four varieties of hallmark gold: 23 karat, 22 karat, 21 karat and 18 karat. The purity of the gold is directly proportional to the karat rate. The higher the karat rate, the higher the purity.

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Warangal
Telangana
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