Gold Rate In Amritsar Today
Gone are the days when people used to use gold for mere adornment. With changing trends, people now also use gold for other purposes. One popular option is a gold investment, today almost everyone makes it a point to put a part of their savings into a gold purchase. Thus, in general, gold serves two purposes: it can be adorned by women and used by investors. In order to understand more about the benefits of gold as an investment, read through the section below. Also, explore this blog to know all about the current gold rate in Amritsar as there are numerous factors that affect the present gold rates in the city.
Today Gold Price in Major Indian Cities
|City||22 Carat Gold Price Today||24 Carat Gold Price Today|
|Day||22 Carat||24 Carat||Change|
Today 22 Carat Gold Rate in Amritsar
|Day||1 gram||8 gram||10 gram||100 gram||Change|
Today 24 Carat Gold Rate in Amritsar
|Day||1 gram||8 gram||10 gram||100 gram||Change|
Places To Buy Gold In Amritsar
Amritsar is one of the prime cities of Punjab that has the attention of tourists from all over the world. The city also has a number of places to buy gold from, some of which are enlisted below:
- Tanishq Jewellery: The famous jewellery brand, Tanishq needs no introduction. Tanishq Jewellery has outlets all over the country and in Amritsar, it is located in Novelty Chowk. This popular jewellery outlet has a well-established network of customers who simply visit their outlet for exploring a range of amazing jewellery designs. You can get authorised gold jewellery from Tanishq and moreover the friendly staff here are sure to provide you with an unforgettable shopping experience.
- Khurana Jewellery House: The Khurana Jewellery House in Amritsar was founded in the year 1931. The Khurana Jewellery House is located on Mall Rd and is open on all days of the week, but Sundays. With a spacious store area, customers at Khurana Jewellery House can find different types of jewellery to brace for all occasions. Offering superior quality and varied designs at an affordable price, the Khurana Jewellery House in Amritsar is a must-visit in case you are planning to buy gold.
- Kalyan Jeweller: Just like Tanishq, another popular brand of jewellery that has its outlet in Amritsar is Kalyan Jewellers. Kalyan Jewellers specialises in offering quality jewellery that is handcrafted by expert goldsmiths. Moreover, the best part about buying jewellery from Kalyan Jewellers is that you can even get lifetime maintenance for your purchased jewellery, which is mostly free.
- NBFCs: Another way in which you can invest in gold is by buying digital gold from popular NBFCs such as Muthoot Finance, IIFL Gold Loan, etc.
Gold Rate / 10g in Amritsar for Last 10 Days
|Date||22 Carat Gold Price Today||24 Carat Gold Price Today|
Historical Gold Rates in Amritsar
|Months||Lowest Price (24 Carat) Gold rate/ 10gram||Highest Price (24 Carat) Gold rate/ 10gram|
Gold As An Investment
The immense significance of gold as an investment tool cannot be overstated. However, we have compiled some of the primary reasons why gold investment is a good choice in the section below:
- Protection Against Inflation: Inflation is one of those events that can largely affect your investment strategy. This is the reason why investors in order to stay protected against the risk of inflation, invest in safer assets like gold. In the past years, gold has been witnessed to outperform the risks of inflation. So, it is a good idea to invest in gold as it acts as a hedge against inflation.
- Easy To Sell: In today’s highly uncertain life, there are high chances that you may require immediate cash at any point in time. And as gold offers liquidity, it is very easy to sell gold during such times and get immediate cash. Moreover, in order to deal with such circumstances, you can also use gold as collateral for getting loans and thus acquiring cash at such dire times.
- Price Stability: There are times when the value of the best-performing investment tools like stocks falls. But, such is not the case with gold, as gold will always retain its value, no matter how the situation is. Thus, the price of gold remains stable in the long run, which is why it is a wise idea to invest in gold.
Things To Remember While Buying Gold In Amritsar
In case you are planning to buy gold and want to know about the things to consider while buying gold in Amritsar, then you have landed at the right place. Read on to learn more:
- Price: One of the most crucial things to do when buying gold in Amritsar is to check its current price as the overall price is subject to changes. Moreover, you should never compromise on the quality of gold jewellery just because it is cheap.
- Weight: The final cost of gold is evaluated on the basis of its total weight. So, to make an informed decision regarding your gold purchase, always verify the final weight of gold against which the seller is issuing a bill.
- Purity: The purity of gold is measured in karats, so before buying gold, always get its purity checked. Furthermore, you also check whether the seller has a hallmark certification issued by the Bureau of Indian Standards to further understand its authenticity.
Factors Which Affect Gold Price In Amritsar
Following are the factors which affect the price of gold in Amritsar:
- Festivals: The festive season largely plays a role in determining the current price of gold. During festivals like Diwali, Dussehra, Akshay Tritya, and more, the demand for gold increases. So, with a rapid increase in demand, there may be a shortage of gold such that the price of gold will increase.
- Political Turmoil: Political disturbances like war also affect the price of gold. At times, when there is ongoing political turmoil, the value of assets diminishes. However, the value of gold remains the same and that is why the price of gold during political turmoil increases.
- Government Gold Reserves: The Reserve Bank of India holds a huge reservoir of gold. So, when such institutions start accumulating large amounts of gold, then the price of gold in turn rises.
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How to check for the hallmarked 916 22 karats gold in Amritsar?
The hallmark symbol can be found on the back side of gold jewellery.
Do I need to pay tax on bringing gold into Amritsar from abroad?
For bringing gold into Amritsar from abroad, you need to pay a 10% tax.
How to check the purity of gold in Amritsar?
The purity of gold is measured in karats. As only licensed laboratories can check the purity of gold, so visit these laboratories for the same.
What is the difference between 22 karats and 24 karat gold?
The jewellery made out of 22k gold is more durable as compared to that made out of 24k gold, this is because of the presence of other metals in it. 24k gold is brilliant in colour but won't be durable for making jewellery. It is too soft to resist wear and tear.
How do you double-check your BIS hallmark in Amritsar?
HUID number, which is unique for all jewellery, helps to double-check the BIS Hallmark in Amritsar.