gold

Today Gold Rate in Ahmedabad is Rs. 47,480.00 per 10 grams for 24 Karat
(10 grams = 1 tola gold)

Rs. 47,480.00

( 24 Karat, 10 grams )

24 Karat, 10 grams

Gold Price for Today Rs. 47,480.00

Gold Price for Yesterday Rs. 47,530.00


22 Karat, 10 grams

Gold Price for Today Rs. 44,943.00

Gold Price for Yesterday Rs. 44,991.00

Updated: 25-03-2020 05:16:38 AM

India is the second largest consumer of gold next to China. Ahmedabad, with its population of more than 6 million, is Gujarat’s largest city and an important trade and commerce center. Over the years, gold has been considered as a tool to tide over financial emergencies and now it is considered as a preferred investment option for those looking to diversify.

Gold rates in Ahmedabad or across India are influenced by a wide range of factors such as prevailing market conditions, demand and supply of gold, strength of our currency, US-dollar equation amongst other factors.

Trend of Gold Rate in Ahmedabad for last 10 days



Date24 Karat Gold Rs / 10 gm22 Karat Gold Rs / 10 gm

31st August 2021 Rs. 47,480.00 Rs. 44,943.00

30th August 2021 Rs. 47,530.00 Rs. 44,991.00

29th August 2021 Rs. 47,530.00 Rs. 44,991.00

28th August 2021 Rs. 47,590.00 Rs. 45,066.00

27th August 2021 Rs. 47,440.00 Rs. 44,925.00

26th August 2021 Rs. 47,500.00 Rs. 44,979.00

25th August 2021 Rs. 47,730.00 Rs. 45,203.00

24th August 2021 Rs. 47,310.00 Rs. 44,807.00

23rd August 2021 Rs. 47,340.00 Rs. 44,839.00

22nd August 2021 Rs. 47,340.00 Rs. 44,839.00

Also Check For:

Gold Rate Today : Hyderabad | Kerala | Mumbai | Delhi | Bangalore | Pune | Kolkata | Chennai

Silver Rate Today : Bangalore | Hyderabad | Delhi | Chennai | Mumbai | Ahmedabad | Jaipur

How Gold Rate is Decided?

One should know that India isn’t a producer of gold but a consumer. This implies that the country relies heavily on imports to meet existing gold demand. London Bullion Market Association (LBMA) manages the London Good Delivery List, the only market accreditation accepted across the globe. IBA (ICE Benchmark Administration) publishes the LBMA gold price in US dollars twice daily at 10:30 AM and 3:00 PM UK Time which serves as a benchmark price for gold producers, investors and central banks worldwide.

In India, the Indian Bullion Jewellers Association (IBJA) IBJA takes the international price of the gold as a base and adds applicable taxes. Afterwards, an organization of bullion sellers decide at which rate the gold will be given to retailers which makes the gold price today in Ahmedabad and across India volatile.

Last 4 Months Trend of Gold Rate in Ahmedabad

Gold Price Trend in July 2021
Trend24 Karat Gold (Rs/10gm)
Rate on 01-July-202147,760.00
Rate on 31-July-202148,510.00
Highest Rate48,510.00
Lowest Rate47,680.00
Month PerformanceDecline
% Change-1.57 %
Gold Price Trend in July 2021
Trend24 Karat Gold (Rs/10gm)
Rate on 01-July-202147,760.00
Rate on 31-July-202148,510.00
Highest Rate48,510.00
Lowest Rate47,680.00
Month PerformanceDecline
% Change-1.57 %
Gold Price Trend in May 2021
Trend24 Karat Gold (Rs/10gm)
Rate on 01-May-202147,175.00
Rate on 31-May-202147,175.00
Highest Rate47,175.00
Lowest Rate47,175.00
Month PerformanceRising
% Change0.00 %
Gold Price Trend in May 2021
Trend24 Karat Gold (Rs/10gm)
Rate on 01-May-202147,175.00
Rate on 31-May-202147,175.00
Highest Rate47,175.00
Lowest Rate47,175.00
Month PerformanceRising
% Change0.00 %

GST on Gold in Ahmedabad

With the introduction of the GST (Good and services tax), excise duty and VAT has been replaced with the GST of 3% on the price of gold.

Why Does the Gold Prices Fluctuate in Ahmedabad?

Gold is traded on the exchanges every day and demand, supply and various other factors determines the price of gold in Ahmedabad. Listed below are some of the factors which cause the gold rate to fluctuate:

Geo-political crises: Gold often seen as an alternative investment during times of political and financial uncertainty. Recent outbreak of Coronavirus, rising tension between US-Iran have led the prices of gold to go up. It is because gold is considered as a safe haven and during such crises; people want to hold money in the form of gold which also impacts the demand for gold to rise.

Import Duty: India currently imports gold to meet its existing demand. Increase in import duty will directly affect the price of gold rates in Mumbai and across India to increase and vice versa

US dollar- Rupee equation:  Gold is an internationally traded commodity and the US dollar is the preferred international currency. Any change in the US dollar-rupee equation will directly have an impact on the prices of gold

Currency depreciation: It occurs when a country’s currency looses value in relation to one or another foreign currencies. When rupee depreciates, investors turn to gold as it is considered a safe haven. This impacts the prices of gold to go up.

Interest rates: Interest rates have a negative correlation with gold prices. When interest rates increases, people start to flock to fixed income investments which decreases the demand for gold that in turn affects the prices of gold to go down.

Why Gold Prices in Ahmedabad Differ from Other Cities?

Gold rate in Ahmedabad will slightly vary from the Gold rate in Delhi and so with other states as well due to the following reasons:

  • Every city has its own jewellery association and the gold rate is declared by these associations every morning due to this today gold rate varies across India.
  • Physical movement of gold from one place to another requires certain security arrangement which also adds up to the cost
  • Gold price in Ahmedabad also depends on from which supplier the jeweller is buying gold from and at what price

Gold Investment in Ahmedabad

There are multiple ways one can get started with investment in gold in Ahmedabad. Paper and Physical- there are two ways to own gold.

Physical Gold

Gold Jewellery: Gold investment through jewellery buying is quite popular across the country. It fulfils dual purpose-gold prices will appreciate in the long term as well as using the jewellery as ornament. However, owning jewellery comes with certain risks such as safety and storage. At the time of selling your jewellery, the buyer will deduct the making charges as well as wastage charges before quoting the final value to you. When you are buying gold jewellery for investment purpose, it is recommended to avoid stone embedded jewellery as it won’t give you any return in the long term.

Gold Coins/Gold Bars: Gold coins/bar can be bought from jewellers, banks, and now even from e-commerce websites such as Paytm, Amazon, etc. Available in different denominations such as 1gm, 2 gm, 5gm, 10 gm, one can choose gold coin/bar depending on the purity and fineness as per your budget. For investment, it is always recommended to go for 24KT with 999.5 fineness. Before buying gold coin/bar, ensure it is a BIS hallmark. MMTC and Tanishq offers buy back facility if it is intact in tamper proof packaging. Considering one is buying gold in/bar for investment purpose, it is advisable to check this from your jeweller before purchasing.

Gold Saving Schemes: Most of the jewellery shops and online jewellery portals such as Tanishq, Jos Alukkas, Malabar offer gold saving schemes where the customer needs to make a deposit of fixed amount every month for the chosen tenure. At the end of the term, jeweller will add a bonus amount which can be in the form of a month’s installment or 75% of that amount. This allows customers to buy gold (from the same jeweller) at a value equivalent to the total money deposited, including a bonus amount.

Paper Gold

Gold Accumulation Plan (Also known as Digital gold): Virtual Wallets such as Paytm and GoldRush from Stock Holding Corporation of India allows customers to accumulate gold in digital form. Both of them are in association with MMTC-PAMP, thus are safe to invest in. Customers can start investing through these platforms from as little as 1 gram and doesn’t impose any obligation to make fixed or periodic payment on the customer. The minimum amount for which you can buy gold differs from platform to platform. For instance, you can get started with Paytm gold with as low as Rs.1 but the minimum amount on GoldRush is Rs.1000. Depending on the amount, corresponding gram of gold will be added to your wallet. When gold prices appreciate, you can either sell the accumulated gold and the gold value prevailing at that time will be credited to your account.

Sovereign Gold Bonds: Offered by the RBI and issued by the government of India, SGBs is another way to own gold in paper form. Here the investor will not get physical gold at the time of maturity or redemption rather s/he is participating in the growth or fall of gold price. The tenor of Sovereign Gold Bonds is eight years but the exit option is available after 5 years. The government has fixed interest of 2.50 percent per annum on the investment. An individual can get started with minimum 1 gram and maximum up to 4 grams. The returns are market-linked and will depend on gold prices prevailing at the time of maturity or redemption. However, one should know these bonds are not available on-tap basis but are notified by the government (Usually happens every 2-3 months and the window will remain open for a week)

Things to Remember Before Investing in Gold/Jewellery in Ahmedabad

Listed below are the certain aspects one must keep in mind while investing or buying jewellery:

  • Understand exchange policies that the jeweller offers
  • Price of gold depends on its purity. If 24KT gold price is Rs.43,280 /10 gram, then 22KT gold will be priced lesser i.e. 41,320. At the time of billing, make sure you are charged for the purity of the gold you have bought
  • Ensure there is a transparency in the breakup of the bill with important details such as karat, weight in grams and price of the gold jewellery/coin you have purchased
  • If you are buying studded gold jewellery, make sure the value of gold has to be calculated based on the entire weight of the jewellery minus weight of gemstones/diamonds. And the same should be reflected in the bill separately
  • When you are investing in gold through mobile wallets, one should know order once placed cannot be canceled
  • If you are investing in gold through gold saving schemes, stick to reputed jewellers and ensure all the receipts and documents are in place
  • The tenor of Sovereign Gold Bonds is eight years but the exit option is available after 5 years. So, if you are investing in SGBs with a specific purpose, make sure your goal is at least five years away

How to Check the Purity of Gold in Ahmedabad

One can check the purity of gold they have bought through the hallmark sign. Hallmarking is done by the BIS to certify the purity of gold used in making gold coin/gold jewellery. If a gold jewellery or coin is hallmarked, it ensures that the gold used in making, adheres to the international standards of purity.  One must check the following components on the hallmarked gold jewellery/coin:

For Gold Jewellery

  • BIS Mark
  • Purity in Karat and fineness corresponding to different purity level
    • 958-23 Carat
    • 916-22 Carat
    • 750-18 Carat
    • 585-14 Carat
  • Assaying and Hallmarking Centre’s Identification mark/number
  • Jeweller’s Identification mark/number

For Gold Coins

  • BIS Mark
  • Karat
  • Fineness

Note:

Aforementioned details are engraved on the jewellery or coin.

From January 15, 2021, it will be mandatory for jewellers to sell only hallmarked 14K, 18K, and 22K jewellery

How Can I Get a Loan Against Gold Jewellery in Ahmedabad

In case of financial emergency, one can use their gold jewellery/coin as collateral to get a gold loan in Ahmedabad. One needs to approach a bank with the gold and based on the purity, weight of the gold jewellery, loan amount will be sanctioned. A customer can quickly avail gold loan for any value of Rs. 1,500 to Rs. 15 lakh with easy documentation process. However, this loan range varies from bank to bank. In return, the borrower needs to pay the interest on the loan annually. Until the loan amount is paid, your gold will be kept in a secured vault.

Frequently Asked Questions (FAQs)

What is the making charge on gold in India?

Making charges will vary depending on the type of jewellery you are planning to buy. Every ornament requires a different style of cutting and finishing. In the end, it depends on how intricate the design is.

Jeweller can quote making charges in two ways- percentage of the gold value or as a flat making charge per gram of gold. Since the percentage of these charges are not standardised, customers can negotiate here.

How is the pricing of gold jewellery done?

The price of gold jewellery in Ahmedabad is calculated by taking in account the following factors:

  • Prevailing price of gold as per purity
  • Weight of gold
  • Weight and price of additional gem, diamonds, etc., if any
  • Type of metal (alloys) added in the composition with gold
Why can’t we make gold jewellery in 24K?

Gold jewellery is available in different Karats (KT). Here, the KT denotes the purity of gold. 24KT is the purest form of gold available but it is too soft to be used for making jewellery. Hence, jewellers use 22KT or 14KT gold for making jewellery which contains 91.6% and 75% gold, respectively, along with alloys such as Zinc, copper that makes the gold jewellery stronger and durable.

Is it safe to invest in gold through Paytm?

Yes. With regards to the safety of the gold, it is stored in highly secure vaults of MMTC-PAMP. Moreover, there are no extra charges for storing gold. However, at the time of liquidity, if you are choosing digital gold to be converted into gold coins, then making and delivery charges will be levied.

Difference between Yellow gold and white gold?

Yellow gold (i.e. 24K) is the purest form of gold available around us. However, though it is available in the form of coins and bars, it is too soft to be used in Jewellery. Because of this, it is combined with metals such as Zinc and copper to create alloys. Gold can take on a different hue depending on the mixture of metals and their ratio added at the time of composition. White gold is also yellow gold that is mixed with other durable metals such as Zinc and silver. It is because of the presence of these metals which actually gives white gold its color.

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