Gold Rate Today in Rewari

Rewari is a city as well as a district which is situated about 81 Km from Delhi. It lies in the state of Haryana, India. Rewari has ancient significance, in Mahabharata, there was a king called Rewat who had a daughter named Rewati. Hence the name Rewari came up.

The use of gold ornaments in Rewari dates back to the ancient kings and queens.

Gold is mostly used by the people of Rewari for investment purposes and is in high demand at wedding functions and festival times. The price of gold is not stable and changes from time to time. The price change depends on many factors linked internationally and nationally.

However, gold rates have been increasing ever since, and the price will keep going higher because of high demand and import. Consumption of physical gold is heavy in festival and marriage functions. And Rewari city is famous for consuming during such events and festivals.

Are you planning to buy gold in Rewari? Gold can be purchased from any of the jewellery stores and banks that offer gold.  Many ornamental stores sell authentic and pure yellow metals. However, while buying gold you need to keep many things in mind. Gold prices, gold purity level, trust store and so much more. Let’s explore and know all the gold-related information in the article.

What Are the Taxes on Gold purchased in Rewari?

One of the main factors for gold price keeps changing is the different taxes levied by the government. There are many taxes like import duty and GST. Let us see all the possible taxes added to your gold purchase.

1. Whenever any gold is imported into India, a flat custom duty of 12,5% is levied.

2. Another import charge called the Agriculture Infrastructure and Development Cess (AIDC) of 2.5% is levied.  

3. Another custom duty called a Social Welfare Surcharge (SWS) of 10% is levied by the government.

4. Apart from all these import duty charges; a flat 3% Good & Service Tax (GST) is levied. This rate was earlier set by the government at a flat 5%.

What Are the Factors Affecting Gold Prices in Rewari?

The price of gold depends on a lot of national and international related factors. Let us see all the major factors that influence gold prices.

Reserve Bank of India (RBI) Policy

Central bank of each country keeps a certain gold reserve in the treasure. In this case, the Reserve Bank of India (RBI) keeps the gold reserves along with US dollars. When RBI starts purchasing and storing gold, the price of the gold goes up and this determines the gold pricing system.

Demand/Supply in The Jewellery Market

We all know that Indians love yellow metal. This is evident from the fact that demand in the wedding season and the festive season is very high. When a such spike in demand for the yellow metal, the price of gold rises automatically.

Import & Custom Duty

Did you know that India is an import-dependent country? So, India imports huge quantities of gold to meet its national demand. Hence, import duty on gold plays an important role in setting the price of gold for the city in general. Higher import duty will attract higher gold prices and vice-versa.

Things to Consider Before Buying Gold Jewellery in Rewari

As said in the above paragraph that one should keep a lot of things in mind while buying gold from any city. Here are a few major points to consider while going to purchase gold jewellery in the city of Rewari.

• Whenever you are looking to buy gold, it is recommended to watch out for the prevailing gold price. Purchasing gold during high demand can add extra cost to your pockets. Also avoid purchasing from banks, as it charges higher prices of gold as compared to a jewellery store.
• Always look for the Bureau of Indian Standard (BIS) mark. BIS hallmark 916 is engraved on yellow metal. A 916 certification indicates gold purity and fitness level.
• Ensure the gold is certified with the Quality Control of India (QCI).
• Buy from trusted and genuine gold stores in the city. Every store has its own marking for ensuring gold standards and purity. You can check this as well.
• Always see for the gold grade while purchasing ornaments. 24K is 99.9% pure gold, 22K is 91% pure gold, and 18K is 75% pure gold. Purchase according to your need and budget. The price range of gold also depends on the purity level of the yellow metal. A higher purity grade is costlier than a lower purity grade.