Gold Rate Today in Arunachal Pradesh

Arunachal Pradesh, also known as the "Land of the Dawn-lit Mountains," is a picturesque state in the northeastern part of India. The state borders Bhutan, China, and Myanmar and is the largest of the Seven Sister states. The state prides itself on its pristine natural beauty with rich biodiversity and diverse culture.
Agriculture is the key contributor to the economy of Arunachal Pradesh. However, the state's unique ethnic jewellery has caught the attention of all. The local tribals use gold and silver to make these ornaments.

Alternatives to Buying Physical Gold in Arunachal Pradesh

Gold ETFs

Gold Exchange Traded Funds (ETFs), as the name suggests, are traded on stock exchanges. You can buy and sell these funds easily and invest as low as one gram of 24K gold, referred to as one unit.

Gold Mutual Funds

Mutual funds are market schemes in which investors with common goals come together to put money in a pool of stocks. Gold Mutual Funds comprise stock equities of companies engaged in marketing, mining, processing, and transporting gold. The fund houses charge investors a fee to manage these schemes. 

Sovereign Gold Bonds (SGBs)

Sovereign Gold Bonds (SGBs) are bonds issued on behalf of the central government by the Reserve Bank of India. These bonds are the best for people who want to purchase gold only for investment purposes.
When you invest in SGBs, you get an annual interest of 2.5% interest paid in two instalments in a year. These bonds have an eight-year maturity period, but you can sell them on stock exchanges after five years. At the expiry time, you can only get cash and not physical gold for SGBs.

Digital Gold

You can also buy gold digitally without the hassle of having to store it safely at your place. This option is offered by digital gold from the companies you buy from. They store the physical gold purchased by you in their secured vaults. This option is available with fintech companies that have partnerships with gold vendors. The most appealing aspect of digital gold is that you can buy gold for as low as even ₹ 1.

Various Uses of Gold in Arunachal Pradesh

Dentistry

Gold metal is durable, non-toxic and non-corrosive. This makes it a valuable component in the dental industry. Dentists use gold for teeth fillings, crowning, and bridge work.

Medicine

Gold is a bacteria-resistant metal. So, you can see doctors using gold to treat inflammatory diseases like arthritis. Gold nanoparticles do not induce any immune response in our body and are used in cancer chemotherapy.

Smartphones

Did you know that the phones you carry around also have gold? According to the World Gold Council (WGC), cell phones contain approximately 50 milligrams of gold. As the metal resists corrosion and rust, it helps in the smooth flow of current at low voltages too.

Cosmetics

Gold is good for your skin too. Gold nanoparticles promote blood circulation and act as an anti-ageing agent. Many cosmetic companies in Arunachal Pradesh use gold moisturisers, lip balms, and topical skincare creams. 

Collateral

You can use gold as collateral to secure funds for your private or commercial use. Usually, the lender approves loans up to 50-70% of the current value of the gold, depending on their purity levels.

Factors Affecting Gold Price in Arunachal Pradesh 

Inflation

Did you know that inflation and gold share a direct relationship? When inflation rises, it causes currency values to go down. This means gold can be bought at lower prices. So, people rush to buy more gold. This demand also pushes gold prices up. For decades, gold prices have consistently outperformed inflation. 

Gold Reserve Requirements

When the economy of a country goes down, it causes its currency value to fall. This means there is fluctuation in currency rates. And that is why governments choose to trade in gold. Gold is an internationally-accepted exchange medium. India's gold reserves are managed by the Reserve Bank of India (RBI).
When the government decides to expand its gold reserves, local markets in Arunachal Pradesh face a shortage. This causes gold prices to rise further.

Jewellery Market

As in any other city, gold demand in Arunachal Pradesh goes up during all festivals. And Diwali tops the list. Locals buy gold ornaments and coins online or from local jewellers.
This rush to buy gold sometimes causes demand to exceed supply. To control this, the Indian Bullion Jewellers Association (IBJA) hikes gold prices.

Interest Rate Trends

Financial instruments are assets, such as bonds, stocks, fixed deposits and others, that can be traded. When interest rates on these instruments fall, people prefer to invest in gold. Following this demand, gold prices also shoot up.

Mother Nature

In natural disasters, transporting gold to Arunachal Pradesh becomes difficult, causing a supply shortage.