Gold Rate Today in Assam

Assam is a state in India with a rich history and heritage. It shares a border with Nepal and Bhutan. Assam is the land of tea, silk, oil, and natural beauty. The state was the first site for oil drilling in Asia. It has more than 70% forest cover and is one of the most biodiverse places in the world.
There has been a lot of development in Assam in many years, so many people want to visit the state, invest in Assam and start businesses in Assam. But how many people know there is a huge gold rush in Assam? Gold as an Investment option has always been a part of Assamese culture and pride.

Hallmarking of gold in Assam

Below karats of gold have specific percentages of pure gold, which measures its purity. Let's check out.

• In 8-karat gold, 33% of gold is pure. It is the most impure type of gold and is usually not preferred in the gold market.
   
• Ten karat gold holds 41.7% pure gold, and the rest, 58.3%, is alloy mixed with it. 
   
• If you buy 12-karat gold, you get 50% pure gold. 
   
• 14-karat gold holds 58.3% purity.
   
• There is 75% pure gold in 18k; the remaining 25% is an alloy   22 karat gold which is the second-best form of preferred gold and has 91.7% gold.  
   
• The finest form of gold is 24-karat gold which is 99.9% pure. It is also referred to as 100% pure gold.

GST Impact on Gold Price in Assam

GST does not have any negative impact on gold in Assam. As of now, the percentage of tax is 3%. When GST was not introduced, total taxes were more than 12%, of which 12% was only for import custom duty.

Apart from GST, other charges on gold are as below:

• Custom Duty of 12.5%
   
• Social welfare surcharges comprise 10% of customs duty. So, for example, if your custom duty comes to ₹ 8000, then your Social welfare charge will be ₹ 800
   
• Agriculture Infrastructure and Development Cess, which is 2.5 %.

Gold Investment vs Property Investment

Most of the residents of Assam believe that investing in gold is similar to investing in house property. If you believe in it, here is the perfect solution to query. Even though the gold price in Assam fluctuates, it cannot be a subject of significant destruction. Property investment always carries the risk of natural calamities; if not, maintenance charges. In the case of gold, there is no immediate risk.

Some Interesting Facts on Gold and Gold Price In Assam

• South Africa is the biggest exporter of gold.
   
• You may need to be very careful if you are habitual in wearing heavy gold ornaments. Gold is an electrical conductor and can give you an electric shock.
   
• The Indian Bullion Jewellers Association plays a key role in determining the daily gold rates in India. If you buy gold from a jewellery store in Assam, don't be surprised if you get a discount on gold, all thanks to the IBJA association.
   
• According to a French medical study conducted during the early twentieth century, gold may help treat rheumatoid arthritis.

How is the Purity of Gold Evaluated in Assam?

In today's market, gold buyers are more concerned about purity, as adulteration is a common problem. So here is the hint: The more yellow your gold is, the purer your chuck of gold will be. If it is light yellow, it may have an alloy mixed in it. 
There are two tests mostly done to check the purity of gold.

• Acid Test where just a drop of acid is put on the piece of gold. If the chuck of gold reacts, it means it is not pure.
   
• XRF (X-ray fluorescence spectrometers) test, which is more expensive than the acid test, detects if any other metal is mixed with gold. 

Before you purchase gold, you must always know the measurement base for gold. Gold price in Assam is calculated on the karat of gold you buy. So if you have a wedding occasion at home and are in a local gold shop in Assam, the jeweller will charge you based on the karat of gold you buy.