Gold is one of the precious and valuable metals in India. Indians buy gold for many reasons. Some people buy gold for investment purposes, give gifts, and purchase it to make donations during religious festivals.
There has been a tremendous demand for gold, and therefore, you can see an upsurge in gold selling price today in Vijayawada. Much of gold’s popularity stems from the fact that it is the safest liquefiable asset. It means that gold can stand solid against inflations and economic contingencies.
For instance, despite the economic instability induced by the COVID-19 pandemic, the gold price in Vijayawada today is at its best. Whether you need to invest or sell your gold jewellery to meet an immediate financial requirement, you will get the best gold selling price today.
Gold rate in Vijayawada in 2021
Vijayawada in Andhra Pradesh is one of the top cities to buy and sell gold. The reason being that you get the best gold price in Vijayawada today compared to other states in India.
22 Karat gold price Vijayawada today
|Gram||22 Karat gold||Daily price change|
|1 gram||Rs. 4560||0|
|8 gram||Rs. 36480||0|
|10 gram||Rs. 45600||0|
|100 gram||Rs. 456000||0|
24 karat gold price Vijayawada today
|Gram||24 Karat gold||Daily price change|
|1 gram||Rs. 4975||0|
|8 gram||Rs. 39800||0|
|10 gram||Rs. 49750||0|
|100 gram||Rs. 497500||0|
Gold rate trends in Vijayawada for the last 10 days
|Date||22 Karat Gold (10 gram0||24 Karat Gold (10 gram)|
|May 21||Rs. 45600||Rs. 49750|
|May 20||Rs. 45600||Rs. 49750|
|May 19||Rs. 45450||Rs. 49590|
|May 18||Rs. 45450||Rs. 49590|
|May 17||Rs. 45150||Rs. 49260|
|May 16||Rs. 44910||Rs. 48990|
|May 15||Rs. 44900||Rs. 48980|
|May 14||Rs. 44650||Rs. 48710|
|May 13||Rs. 44500||Rs. 48560|
|May 12||Rs. 44500||Rs. 48560|
Reasons behind the movement of gold price Vijayawada today
Many factors affect the gold prices in Vijayawada, due to which you can see positive changes in gold selling price today.
- When the gold price fluctuates in the international gold market, it impacts the Indian market as well.
- Since most gold in India is imported from other countries, the gold selling price today has to bear excise duty and import duty exchange rate conversion.
- When the gold price in the international market weakens, the rate of gold in Vijayawada decreases.
- The local state government’s rules and taxes also impact the gold-selling price today in Vijayawada.
- Since gold has to be transported from other states, the hauling cost adds to the gold price.
- The gold association in every state regulates the prices daily, due to which you can see a difference in gold rate in every state.
Despite the pandemic and economic instability, the gold jewellery price today is at its best. We cannot anticipate that the gold price will fall over the coming days. So, if you are an investor and wish to buy gold for investment purposes, you may consider waiting until there is a sizable downslide.
Important points to keep in mind before buying gold in Vijayawada
Keep the underlying points before buying gold in Vijayawada:
- Always prioritize buying certified jewellery from gold vendors. Consider visiting authorized vendors to get hallmarked gold or KDM certification that ensures the authenticity of the purity of gold.
- Ensure that you are charged a nominal making fee. The making charge is the amount levied by the vendor for designing the gold.
- Consider buying 22 karat gold that is suitable for jewellery designing. Avoid getting 24 karat gold as it is the purest form of gold and is not suited for jewellery.
- Make sure to know the weight of the gold before buying from an authorized vendor.
- Make use of a gold price calculator to know how much you need to pay.
How to measure the purity of gold?
The Bureau of Indian Standards (BIS) certifies the purity of your gold. The process is known as hallmarking. There are four major components involved in BIS markings. For instance, BIS mark, Jeweler’s Identification mark, Purity in Karat, and Hallmarking centre’s identification mark.
Some vendors may even use a magnet to test the purity of gold. Impure gold has a certain amount of metal in it, and the magnet will attract the metal upon getting touched.
So, if you wish to sell your gold to meet a cash crunch, now is the right time to sell gold as the gold price in Vijayawada today is in your favour.