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Today Gold Rate In Andhra pradesh

Updated on : 23 Apr 2024

gold rate today

22-carat gold Rate

₹ 6,615

(Per Gram)

gold price today

24-carat gold Rate

₹ 7,216

(Per Gram)

22 Carat & 24 Carat Compare Gold Rates In Andhra pradesh (Today & Yesterday)

Gold Rate YesterdayGold Rate TodayPrice Change
22 Carat6,7556,615-140
24 Carat7,3697,216-153

Today 24 Carat Compare Gold Rate In Andhra pradesh (Today & Yesterday)

Gram24 Carat Gold Price Yesterday24 Carat Gold Price TodayPrice Change
1 GRAM7,3697,216-153
8 GRAM58,95257,728-1,224
10 GRAM73,69072,160-1,530
100 GRAM7,36,9007,21,600-15,300

Today 916 KDM Gold Rate In Andhra pradesh (Today & Yesterday)

Gram916 KDM Gold Rate Yesterday916 KDM Gold Rate TodayPrice Change
1 GRAM6,7556,615-140
8 GRAM54,04052,920-1,120
10 GRAM67,55066,150-1,400
100 GRAM6,75,5006,61,500-14,000

Today 22 Carat Compare Gold Price In Andhra pradesh (Today & Yesterday)

Gram22 Carat Gold Price Yesterday22 Carat Gold Price TodayPrice Change
1 GRAM6,7556,615-140
8 GRAM54,04052,920-1,120
10 GRAM67,55066,150-1,400
100 GRAM6,75,5006,61,500-14,000

22 & 24 Carat Gold Rates In Andhra pradesh for Last 10 Days (1 Gram)

DatePure Gold - 24 KStandard Gold - 22 K
Apr 22, 2024Rs. 6,755 (-53) Rs. 7,369 (-55 )
Apr 21, 2024Rs. 6,808 (0) Rs. 7,424 (0 )
Apr 20, 2024Rs. 6,808 (-7) Rs. 7,424 (-10 )
Apr 19, 2024Rs. 6,815 (50) Rs. 7,434 (54 )
Apr 18, 2024Rs. 6,765 (-30) Rs. 7,380 (-33 )
Apr 17, 2024Rs. 6,795 (0) Rs. 7,413 (0 )
Apr 16, 2024Rs. 6,795 (90) Rs. 7,413 (98 )
Apr 15, 2024Rs. 6,705 (55) Rs. 7,315 (60 )
Apr 14, 2024Rs. 6,650 (0) Rs. 7,255 (0 )

Historical Price of Gold Rates In Andhra pradesh

Gold Rates22 Carat24 Carat
1 st April rateRs. 6,360 Rs. 6,938
23th April rateRs. 6,615 Rs. 7,216
Highest rate in AprilRs. 6,815 on April 19 Rs. 7,434 on April 19
Lowest rate in AprilRs. 6,335 on April 2Rs. 6,911 on April 2
Over all performanceRisingRising
% Change+4.01%+4.01%
Gold Rates22 Carat24 Carat
1 st March rate Rs. 5,790 Rs. 6,316
31st March rateRs. 6,275 Rs. 6,845
Highest rate in MarchRs. 6,300 on March 29Rs. 6,873 on March 29
Lowest rate in MarchRs. 5,790 on March 1Rs. 6,316 on March 1
Over all performanceRisingRising
% Change+8.38%+8.38%
Gold Rates22 Carat24 Carat
1 st February rateRs. 5,815 Rs.6,344
29th February rateRs. 5,759 Rs.6,283
Highest rate in FebruaryRs. 5,830 on February 2Rs. 6,360 on February 2
Lowest rate in FebruaryRs. 5,690 on February 15Rs. 6,207 on February 15
Over all performanceFallingFalling
% Change-0.96%-0.96%

For ages, Indians have relied on gold as a great investment tool. Gold rates in India are majorly influenced by the value of the US Dollar and our Central Bank reserves. Due to its stability and security, Indians turned to investing heavily in gold during the Corona pandemic. Another factor impacting gold pricing in India is the country's gold demand, which is the highest in the world.

Andhra Pradesh, is a major consumer of gold in India. People here buy gold not only as an investment but also to adorn themselves with beautiful jewelry. Gold also plays an important role in marriages and other family rituals too.

How do people of Andhra Pradesh invest in Gold?

Investment in gold can be done in many ways; there is physical gold, ETFs, Gold Funds, Sovereign Gold Bonds or even Digital Gold. But the most common and easiest way of investing in gold is buying physical gold.

Also Read: Gold Rates in Major Indian Cities

Where and how to buy physical gold?

Physical gold can be bought as jewelry, coins or bars. In Andhra Pradesh, physical gold can be bought through following outlets:

  • All leading jewelers – they sell gold jewelry, coins and bars
  • At designated post offices – you can get gold coins, stamped and sealed
  • Most public and private sector banks sell gold coins and gold bars

When you buy gold from jewelers or banks, they charge some making charges or wastage along with the price of the gold. This may be charges as a percentage of the gold rate and are quite high. Jewelers charge about 8-10% of the gold rate as making charges for gold coins or gold bars. For jewelry, this is much higher. For some exquisite jewel pieces, making charges may go up to 25% of the total gold weight of the jewelry piece.

Also, when you sell or exchange these jewels, you won’t get the making charges back. They will only consider the weight of the gold jewel to calculate the selling price, which results in some considerable loss for the buyer. So, if investment is your target, gold jewelry is not a smart choice. You should better go for gold mutual funds or gold ETFs.

What are Gold ETFs? How can I invest in them?

A Gold ETF is similar to buying shares. Gold ETFs are paper or dematerialized units that represent physical gold. An exchange-traded fund (ETF) that tracks the domestic physical gold price is known as a Gold ETF. They are gold-based passive investment products that invest in gold bullion and are based on gold prices.

Individuals interested in investing in gold in Andhra Pradesh can do so by purchasing Gold ETFs. These investments can be conveniently made online. It has simply revolutionized the way gold is purchased and gold investments are made in Andhra Pradesh. They are becoming more popular as they offer a number of benefits over purchasing genuine gold such as jewellery or coins. However, trading in ETFs require a trading account and cost you money in the form of brokerage, which is usually a percentage of the investment. You could be taxed for keeping the gold in the bank vault as well.

The majority of investors from Andhra Pradesh invest in gold ETFs because of the instrument's high liquidity and convenience of trade. However, in order to trade gold stocks, you'll need a risk appetite as well as expertise with gold as a commodity and stock markets in general. Gold prices, like all other commodity prices, rise and fall for a variety of causes, necessitating constant monitoring and the capacity to evaluate pricing inflections.

Gold Mutual Funds – Are they safe?

Gold Mutual Funds are a safer avenue of gold investment. Here, the fund is invested in stocks of firms involved in gold and gold-related activities. Silver, platinum, and other metals are also included in the investment portfolios of gold mutual funds. The fund manager employs a fundamental trading analysis to purchase and sell stocks in order to maximize investor returns. Gold fund returns are influenced by market conditions to some extent. Since the assets are divided among a wide range of investment possibilities, gold mutual funds significantly reduce the risk of returns.

Additional Read – Mutual Funds investment in India

Sovereign Gold Bonds – Low Risk, Good Returns

Sovereign Gold Bonds (SGBs) has been making the rounds in the investment circle in recent times. The international gold rates have been impacted significantly by recent market volatility and uncertainties in the global market. SGBs have long been regarded as the safest investment option for gold investors.

SGBs are issued by the RBI on behalf of the Govt. of India. They are issued for a total term of 8 years and pay an assured annual interest of 2.5% until maturity. At the time of maturity, you can withdraw the bond as money equal to the current market rate of the gold you hold or as physical gold. Considering the stability that gold investment offers, this is a good option for investors looking for long term investments in gold.

Snapshot of different gold investment options available in Andhra Pradesh

Physical GoldGold ETFsGold Mutual FundsSovereign Gold Bonds

Buy physical gold in the form of jewels, coins or bars

No physical gold involved. It is all in Demat form. 

Diverse investment options in gold funds. No need for physical gold storage. 

Gold in Demat form can be withdrawn as physical gold at the end of the term. 

Needs safe storage and a lot of space

In document form, so no hassle of storage and security

Also in document form

Also in document form

Loss during the exchange or sell-off

Risk of market volatility so needs constant monitoring

No need for constant monitoring but still impacted by market volatility

Is affected by market volatility and has the option to exit after 5 years

Can be pledged in loans

Can be pledged for loans too

Not accepted as collateral by many lenders

Can be pledged against loans

Lower returns but low risk

High risk but high returns if you know how to play the market

Moderate risk and needs some research before investing but gives good returns if you stay invested for a long time

Low risk and low returns but a safe investment avenue

Gold Rate in Andhra Pradesh FAQs

1. What are the 3 best ways to invest in gold in Andhra Pradesh?

The best investment options for gold are – physical gold (gold jewels, coins or bars), Gold ETFs and Gold Mutual Funds. Sovereign gold bonds are also a great option.

2. Do I need a Demat account to invest in gold ETFs?

Yes, Gold ETFs are like stocks and shares so you need a Demat account to invest in them.

3. Do I need a Demat account to invest in gold mutual funds too?

No, gold mutual funds are like normal mutual funds and don’t need a Demat account for investing.

4. Why do you say that Sovereign Gold Bonds are safer?

SGBs are issued by the Govt. of India hence the returns are assured. They are low risk bonds that have government backing and hence are safer.

5. Which gold investment offers immediate liquidity?

Physical gold offers the best liquidity as you can take them to any nearby jeweller and sell it for money. However, you may lose money when you sell or exchange physical gold. Gold mutual funds can be redeemed and the money will be credited to your account within a few business days so they are a much better alternative to physical gold in terms of liquidity.

6. Why is the gold rate in Andhra Pradesh different from Telangana?

Gold rate within India is determined based on the transportation charges and local gold jewellers association. Hence it differs from state to state.

7. Is it a good time to invest in gold?

Though the gold rate is seeing some dip recently, analysts expect the bullion market to rise sharply in the coming months. Advice is for investors to do thorough market research before deciding to invest in gold. The gold market is something that is keenly watched by investors all over. So there is a lot of resources available to make an informed decision.

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