Gold Rate In Arunachal pradesh

Gold has a special place in the world and in people’s hearts too. It is a metal with a fascinating history for hundreds and thousands of years.  This precious metal was used by kings and queens as ornaments, as a symbol of victory, as a global currency and much more. It was also used as a decorative element on temples and tombs and was a significant part of the ancient civilization.

The craze for this metal is continuing even in the modern era. A winner in a sports competition is given a gold medal and in India, people are gifted gold during important and special occasions as a symbol of health, wealth and prosperity. Not just that even the World Bank and the International Monetary Fund use gold as a reference for the value of a bill. It is also considered as a safe investment as its value is on the rise. With so much significance it is only natural to be curious about the gold rates currently. Here is today’s gold rate in Arunachal Pradesh.

What is the difference between 22 Karat and 24 Karat gold?

In India, the metal gold is used to make jewellery, coins, bars, and other articles. The gold’s purity and its value are measured in Karat(k). There are two popular choices among Indians when it comes to gold and they prefer to buy 22 (K) or 24(K) gold. The 24 K gold is considered to be purer than 22 K as higher the karat, better the purity.

22 Karat Gold: This gold is pale yellow in color as there is a lesser amount of gold than the 24 karats one. The color of this variety of gold can be changed by mixing it with other metals. In a 22 Karat gold, 22 parts of gold are mixed with 2 parts of metals like copper, nickel, etc. In the market, this gold is sold as ‘916 gold’ as it contains 91.67% of pure gold and it is much harder so it is preferred by jewelers to make ornaments.

24 Karat gold: It is the purest variety of gold available in the market and is 99.99% pure. In its purest form, it is bright yellow in color and has a great glitter. The gold is processed until it is 99.99% pure and not 100% for a reason. The metal at this state is so soft that it will be unable to hold its shape at room temperature and moreover, processing it till 100% is very expensive and hence it is left at 99.99%. To help the yellow metal hold its form some amount of impurity is added so that it can be used to make bars and coins. It is considerably more expensive than 22 Karat gold.

Comparison chart for 24 Karat and 22 Karat gold

Factors that affect gold prices

Gold is one of the most favored metals for not just investment but also to make jewellery too. But the price of this metal keeps varying on a daily basis and is not only based on demand and supply but various other factors too. Some of them are listed below:

The decrease in supply: There has been a decrease in the supply as the mining of the ore has reduced in the past few years which has resulted in an increase in the gold prices. As per a recent report, there has been a decrease of nearly 40% in production rate and since gold is less of a commodity and more of an asset in the stock market, prices are dependent on the future supply and hence the fluctuations in prices.

Inflation and interest rates: Gold is often considered as a hedge against inflation. As inflation increases gold prices also increases and as the Indian economy experiences inflation and the currency weakens people use gold as an investment option. All this leads to an increase in demand. Moreover, gold is always compared to the US dollar and its interest rates. When there is a fall in interest rates, inflation increases and thus gold price also rises.

Jewellery market: Gold has a special place in Indian households and there is a rise in buying activity during a festival season or a wedding season. Gold prices rise during festivals like Akshayatritiya, Diwali, etc as there is greater demand and less supply. Apart from the jewellery market, it is also used in many electronic devices like TVs, computers, etc which results in the huge import of this metal.

Government’s gold reserves: Major countries like the US hold gold reserves in their Central Banks apart from their currencies, so does India. These countries hold gold reserves and also procure more so that the gold prices go up. When there is a lack of supply in the local market there is more cash flow as there is less availability of gold.

Since there are daily fluctuations in gold prices it is essential to check the prices of your preferred variety of gold before you make a purchase.