Gold Rate Today in Guwahati

Gold rates in Guwahati have seen an upward trend over the years. As of now, there is no better investment than gold, which has always seen an upward trend, even though it is dependent on several factors like government policies, inflation, and fluctuations in international gold rates.

Guwahati is a major city in Assam and one of the largest metropolises in the North Eastern region of India. Dispur, Assam's capital, is a suburban locality in Guwahati. As you already know, Guwahati is also a popular tourist destination. The world-renowned Kaziranga National Park — home to the one-horned rhino — is a few hours' drive from here. It also has numerous ancient temples of worship, such as the Navagraha and Kamakhya temples.

As the city is a prominent commercial hub, several businesses have opened operations in Guwahati, thereby increasing employment opportunities and enhancing disposable incomes. With increased affluence, the city's residents are keen to invest and diversify their investments, particularly in gold jewellery.

Assamese culture places great emphasis on traditional ornaments crafted from gold, commonly termed "Kesha Xoon", meaning raw gold. It is a traditional Assamese custom for the bride to wear gold jewellery as part of their marriage ceremony. While so many changes are happening across the city, this timeless tradition has witnessed no change whatsoever.

Gold has always been a traditional and safe investment method for Indians, and the people of Guwahati are no exception. During the festive time of Dhanteras and Diwali, people in the city rush to buy gold.

Just like in other cities, the gold rates in Guwahati are subject to change and depend on several local, regional and global factors.

Things to look for when buying gold in Guwahati?

A few things that you need to bear in mind are:

• Purity of gold in Guwahati: 24K gold is the purest form. For the same reason, it cannot be crafted into intricately designed ornaments. It is available as coins and bars. Gold jewellery can be bought in 14K, 18K, or 22K.
• Gold certification – Hallmarking is a recommended industry practice and one of the most important gold-buying advice. It guarantees the legitimacy of the manufacturer's claims regarding purity. The Bureau of Indian Standards determines the purity and quality of gold.
• Making charges for gold – Making charge is the price associated with the creation and design of any item of gold jewellery that you purchase. It is recommended to buy coins or bars if you plan to buy gold for investment purposes. Because of how simple the design is, these are more affordable. It aids in saving you from the needless expense of making changes.

Different options for gold in Guwahati

There are several options to invest in gold in Guwahati. Today gold can be bought via a variety of methods in Guwahati.

• Physical Gold: Jewellery, ornaments, and gold bars can be bought from banks or shops.
• Digital Gold: Digital gold is sold as a certificate, and one can start saving tiny amounts from ₹1. It can be stored in an insured locker.
• Sovereign Gold Bonds: Sovereign gold bonds are backed by the government and are similar to Fixed Deposits for a fixed term with a good return.
• Gold ETFs: Gold ETFs are another excellent investment option. This is more meaningful if you want to avoid buying physical gold to invest in. It is based on the price of gold and bullion. These are great options and can be easily traded or exchanged for gold.

For many Indian households, storing gold in its physical form is a stressful factor. However, this can be taken care of with easy and convenient options such as digital gold. Holding gold as an ETF (exchange-traded fund) is far more practical than owning real gold. It is safe, convenient and secure at all times.

Further, gold mutual funds are another preferred option. The value of gold ETF units, which in turn represent the worth of physical gold, is tracked by gold mutual funds.

Various Methods of Testing Gold in Guwahati

There are several methods that can be used to test the purity of gold in Guwahati. Some of the most common methods include:

1. Acid test: This is a simple and inexpensive method that involves applying a small drop of hydrochloric or nitric acid to a sample of the gold. The acid reacts with different metals in the gold, producing a specific color that can indicate the gold's purity. However, this method is not very accurate and can be affected by factors such as the age and condition of the acid, and the surface finish of the gold.
2. X-ray fluorescence (XRF) spectroscopy: This method involves bombarding the gold with X-rays and measuring the energy of the emitted X-rays to determine the elemental composition of the gold. It is a highly accurate method, but it can be expensive and requires specialized equipment.
3. Fire assay: This is a traditional method that involves melting the gold and separating it from any impurities using a flux and a lead alloy. The gold is then weighed and compared to a reference sample to determine its purity. This method is accurate but time-consuming and requires specialized equipment and skills.
4. Electronic gold testers: These are handheld devices that use electrical conductivity to determine the gold's purity. They are simple to use and relatively inexpensive, but they may not be as accurate as other methods.

It is important to note that these methods are not mutually exclusive and may be used in combination to test the purity of gold. In Guwahati, gold jewelry is typically tested and certified by independent third parties, such as the Bureau of Indian Standards (BIS), which operates a network of hallmarking centers across the country.

A few factors that affect the gold rates in Guwahati are:

Inflation

With rising inflation, the currency rate falls, and the currency needs to be devalued. Investment in gold becomes the perfect antidote to falling interest rates. Consumers find that investing in gold is safer and will also give them future returns compared to investing in fixed deposits or mutual funds, which are subject to market risk.

Import taxes and duty

India tends to import gold from abroad and hence pays a lot of import duty. Any change to import duties affects the prices of gold. Changes in political scenarios and wars between countries cause the value of the currency to dip.

Government gold reserves

It is a known fact that several central banks worldwide hold gold reserves, as does the Reserve Bank of India. When these banks resort to gold buying and selling, they can cause gold rates to fluctuate.

Demand for gold

High demand and low supply situations for gold tend to cause changes in gold prices. Gold's availability is scarce compared to its demand, making it a precious commodity. This disparity in demand and supply dictates international gold rates.

Currency fluctuations

Slow and sluggish exchange rates of the Indian rupee and US Dollar contribute to the gold price volatility.

Interest rates

Interest rates on financial products and other services link closely with the demand for gold. When the interest rates increase, investors tend to sell gold and invest the proceeds to earn interest, thereby increasing the supply of gold. This eventually leads to a dip in the price of gold. On the other hand, if the interest rate is low, the demand for gold increases, causing gold prices to rise.

The price of other metals

Intricate gold jewellery is not made from pure 24K gold; it has certain amounts of silver, copper, and some other metals mixed in varying proportions. For instance, a gold alloy made by combining two parts of another metal with twenty-two parts of gold would be 22 karats, or 91.67% pure gold.

This alloy is much tougher than 100% pure gold and is ideal for jewellery making.