18K Gold Rate Today in Ahmedabad

Ahmedabad is the biggest city in Gujarat, home to almost 5.5 million people. It has emerged as an important economic and industrial hub in India. The Government of India has selected Ahmedabad as one of the hundred Indian cities to be converted into smart cities under its flagship Smart Cities Mission. Ahmedabad was designated as a UNESCO World Heritage City in July 2017. The city's gold trade contributes to the livelihood of many people. It also attracts gold dealers across India so that you can find all the significant jewellers in this city.
The purity of gold is measured in karats. Higher karat implies a purer form of gold. The following variety of gold karats is available.

How is the Gold Rate determined in Ahmedabad?

The demand for gold is met by importing gold. The following factors will determine the gold rate: 
Currency Fluctuations: Gold is traded in the U.S. Dollar internationally. The rupee-dollar conversion will impact the prices.

• Rate of Custom Duty:  The customs duty is levied on all imports. Presently 18.45% is charged on the import of gold. The rate of duty is hiked to regulate demand. 
• Gold Reserves by Reserve Bank of India: The Reserve Bank of India holds gold reserves. When the Reserve Bank of India begins to buy more quantities of gold it will increase the cash flow and decrease the supply of gold. This causes gold rates to increase in the domestic market.
• Crude Oil Prices: The crude oil prices and the rates of gold have a positive correlation. Gold and crude oil are indicators of inflation. In many cases when the prices of crude oil increase. 
• Geopolitical Factors: Gold retains its value through financial and geopolitical uncertainties. Hence the demand for gold increases during geopolitical chaos.

Factors affecting gold rates in Ahmedabad

• Demand and Supply of Gold: The Demand and the supply of gold affect the prices. Purchasing physical gold provides the most direct exposure to the gold. Gold may be demanded for ornamental purposes or investment purposes. Mumbai is home to a large number of buyers and sellers. The prices increase due to supply constraints.
• Deterioration of mining activity: The volume of gold mined in India since 2013 has remained below two metric tons. The demand for gold in India is principally met through imports. India is one of the leading importers of gold.
• Currency fluctuations: It also influences the price of gold. Gold is traded in US Dollars in the international market. The rupee-dollar conversion impacts price.

What to consider while buying gold in Ahmedabad

The following points should be kept in mind while buying gold in Ahmedabad.

1. Determine the current market price of gold in Ahmedabad. It is preferred to buy gold when the prices decline.
2. Determine and compare the making charges while purchasing the gold jewellery. These can be a significant part of the total purchase cost. Various offers on specific debit and credit cards can be availed to save on making charges. 
3. It is important to check the BIS (Bureau of Indian Standards) hallmark. BIS hallmarking certifies the purity of gold. This ensures that jewellery conforms to a set of standards laid by the BIS. The BIS hallmark consists of the BIS logo, Purity of Gold and a 6-digit alphanumeric code called  Hallmark Unique identification (HUID).
4. Additionally, make sure there is a Karat machine used to check purity.
5. Some jewellers in Ahmedabad offer a buy-back policy on their gold products. The jeweller will buy back the gold rate after deducting the making charges. It is important to understand buy-back policies to avoid confusion and hidden charges.

How Is the Purity of Gold Evaluated in Ahmedabad?

The purity of gold is measured in karats. Higher karat implies a purer form of gold. The following variety of gold karats is available.

24K: It is pure gold composed of 99.9% gold and few other metals. It is the purest form of gold available. The 24K gold is soft and easily bent, dented or scratched. It is not suitable for making regular wear jewellery.
22K: This comprises 22 parts of gold and 2 parts of other metals. The other metals are usually copper and silver. It is 91.67% pure gold. It is still considered a high-quality, valuable material. It is not suitable for making studded jewellery. It is used in making wedding jewellery that is worn occasionally. 
18K: This comprises 18 parts of gold and 6 parts of other metals. The other metals include silver, copper and zinc. It is 75% pure gold. 18K gold is valued for its durability and practicability for everyday wear. It is a popular choice to work on intricate designs

There are a few ways to test the purity of gold

• The most common way is with a karat meter. This machine will give you a percentage of how pure the gold is.
• The next way is with an acid test. This test puts a small drop of acid on the gold, and if the acid turns a different colour, it is not pure gold.
• The last way is with an X-ray fluorescence machine. This machine uses X-rays to test the purity of the gold.
• Ahmedabad is a city in India that is known for its jewellery. If you are looking to buy gold jewellery, you should ensure that you know how to test the purity of the gold.