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Today Gold Rates In Chandigarh

14 Jul 2020

gold rate

22 Carat Gold

₹4573

(Per Gram)

gold rate

24 Carat Gold

₹4891

(Per Gram)

22 Carat & 24 Carat Gold Rates In Chandigarh Per Gram (INR)

TodayYesterdayChange(%)
22 Carat457345640.20%
24 Carat489148810.20%

Today 24 Carat Gold Price In Chandigarh (INR)

Gram24 Carat Gold Yesterday24 Carat Gold TodayDaily Price
1 GRAM488148910.20%
8 GRAM39049391280.20%
10 GRAM48811489090.20%
100 GRAM488113048909390.20%

Today 22 Carat Gold Price In Chandigarh (INR)

Gram22 Carat Gold Yesterday22 Carat Gold TodayDaily Price
1 GRAM456445730.20%
8 GRAM36511365840.20%
10 GRAM45639457300.20%
100 GRAM456386045730250.20%

22 & 24 Carat Gold Rates In Chandigarh for Last 90 Days

DateStandard Gold - 22 KPure Gold - 24 K
1 gram8 grams1 gram8 grams
2020-07-144,57336,5844,89139,128
2020-07-134,56436,5114,88139,049
2020-07-124,56336,5074,88139,045
2020-07-114,56136,4894,87839,026
2020-07-104,56636,5304,88439,070
2020-07-094,58036,6374,89839,184
2020-07-084,53436,2714,84938,793
2020-07-074,49435,9524,80638,451
2020-07-064,47235,7804,78338,267
2020-07-054,47235,7744,78338,261
2020-07-044,47235,7744,78338,261
2020-07-034,47535,7994,78638,288
2020-07-024,50136,0074,81438,510
2020-07-014,54536,3604,86138,888
2020-06-304,51636,1284,83038,639
2020-06-294,51936,1484,83338,661
2020-06-284,51836,1464,83238,659
2020-06-274,51136,0874,82438,596
2020-06-264,50035,9964,81238,498
2020-06-254,50236,0174,81538,521
2020-06-244,51236,0954,82538,604
2020-06-234,49035,9194,80238,416
2020-06-224,52336,1864,83838,701
2020-06-214,48535,8764,79638,370
2020-06-204,48535,8764,79638,370
2020-06-194,44335,5434,75238,013
2020-06-184,44535,5594,75438,030
2020-06-174,43935,5104,74737,979
2020-06-164,42535,3974,73237,857
2020-06-154,43835,5084,74737,976
2020-06-144,43335,4634,74137,929
2020-06-134,43335,4634,74137,929
2020-06-124,44835,5844,75738,058
2020-06-114,42435,3894,73137,849
2020-06-104,37635,0054,68037,438
2020-06-094,31934,5494,61936,951
2020-06-084,30334,4214,60236,814
2020-06-074,29234,3344,59036,721
2020-06-064,29234,3344,59036,721
2020-06-054,36034,8774,66337,302
2020-06-044,32634,6084,62737,013
2020-06-034,37535,0004,67937,433
2020-06-024,43735,4964,74637,964
2020-06-014,43235,4564,74037,921
2020-05-314,40635,2494,71237,700
2020-05-304,40635,2494,71237,700
2020-05-294,38835,1034,69337,544
2020-05-284,37434,9914,67837,423
2020-05-274,36134,8894,66437,314
2020-05-264,42035,3564,72737,814
2020-05-254,42735,4164,73537,878
2020-05-244,44835,5884,75838,062
2020-05-234,44835,5884,75838,062
2020-05-224,40435,2334,71037,683
2020-05-214,44835,5884,75838,062
2020-05-204,46635,7274,77638,211
2020-05-194,44735,5744,75638,047
2020-05-184,49135,9324,80438,429
2020-05-174,45935,6734,76938,153
2020-05-164,45935,6734,76938,153
2020-05-154,40535,2424,71237,692
2020-05-144,36634,9304,67037,359
2020-05-134,34334,7464,64537,161
2020-05-124,34334,7464,64537,161
2020-05-114,35434,8324,65737,254
2020-05-104,33734,6954,63837,107
2020-05-094,33734,6954,63837,107
2020-05-084,38835,1004,69337,540
2020-05-074,34134,7304,64337,144
2020-05-064,35634,8484,65937,270
2020-05-054,35634,8494,65937,272
2020-05-044,34334,7454,64537,161
2020-05-034,32534,6004,62637,005
2020-05-024,32534,6004,62637,005
2020-05-014,29234,3364,59036,723
2020-04-304,35534,8384,65837,260
2020-04-294,39035,1174,69537,558
2020-04-284,38135,0484,68637,484
2020-04-274,43035,4424,73837,906
2020-04-264,44935,5904,75838,064
2020-04-254,45135,6074,76038,083
2020-04-244,42035,3594,72737,817
2020-04-234,40735,2544,71337,705
2020-04-224,38235,0584,68737,496
2020-04-214,36734,9334,67037,361
2020-04-204,33934,7144,64137,127
2020-04-194,34734,7784,64937,196
2020-04-184,34734,7784,64937,195
2020-04-174,40635,2504,71337,701
2020-04-164,44435,5544,75338,026
2020-04-154,42035,3604,72737,818
2020-04-144,41735,3394,72437,795
2020-04-134,34334,7404,64437,155
2020-04-124,33934,7144,64137,127
2020-04-114,33934,7144,64137,127
2020-04-104,31234,4994,61236,897
2020-04-094,24233,9354,53736,294
2020-04-084,22233,7744,51536,122
2020-04-074,24733,9784,54236,340
2020-04-064,15633,2464,44535,557
2020-04-054,17133,3674,46135,687
2020-04-044,17133,3674,46135,687
2020-04-034,13333,0624,42035,361
2020-04-024,07032,5634,35334,827
2020-04-014,04532,3624,32634,612
2020-03-314,11132,8874,39735,173
2020-03-304,10432,8354,39035,118
2020-03-294,10032,8014,38535,082
2020-03-284,10032,8014,38535,082
2020-03-274,09032,7244,37534,999
2020-03-264,07532,6034,35934,870
2020-03-254,14733,1774,43535,484
2020-03-244,03932,3114,32034,557
2020-03-233,82330,5834,08932,709
2020-03-223,82230,5764,08832,701
2020-03-213,82230,5764,08832,701
2020-03-203,74829,9844,00932,068
2020-03-193,71929,7503,97731,818
2020-03-183,81530,5174,08032,639
2020-03-173,74229,9384,00232,019
2020-03-163,86330,9074,13233,055
2020-03-153,81530,5204,08032,642
2020-03-123,74929,9934,01032,078
2020-03-113,74929,9934,01032,078
2020-03-103,74929,9934,01032,078
2020-03-093,74929,9934,01032,078
2020-03-083,74929,9934,01032,078
2020-03-073,74929,9934,01032,078
2020-03-063,74929,9934,01032,078
2020-03-053,74929,9934,01032,078
2020-03-043,74929,9934,01032,078
2020-03-033,74929,9934,01032,078
2020-03-023,74929,9934,01032,078
2020-03-013,74929,9934,01032,078
2020-02-293,74929,9934,01032,078
2020-02-283,74929,9934,01032,078
2020-02-273,74929,9934,01032,078
2020-02-263,74929,9934,01032,078
2020-02-253,74929,9934,01032,078
2020-02-243,74929,9934,01032,078
2020-02-233,74929,9934,01032,078
2020-02-223,74929,9934,01032,078
2020-02-213,74929,9934,01032,078
2020-02-203,74929,9934,01032,078
2020-02-193,74929,9934,01032,078
2020-02-183,74929,9934,01032,078
2020-02-173,74929,9934,01032,078
2020-02-163,74929,9934,01032,078
2020-02-153,74929,9934,01032,078
2020-02-143,74929,9934,01032,078
2020-02-133,74929,9934,01032,078
2020-02-123,74929,9934,01032,078
2020-02-113,74929,9934,01032,078
2020-02-103,74929,9934,01032,078
2020-02-093,74929,9934,01032,078
2020-02-083,74929,9934,01032,078
2020-02-073,74929,9934,01032,078
2020-02-063,74929,9934,01032,078
2020-02-053,74929,9934,01032,078
2020-02-043,74929,9934,01032,078
2020-02-033,74929,9934,01032,078
2020-02-023,74929,9934,01032,078
2020-02-013,74929,9934,01032,078
2020-01-313,74929,9934,01032,078
2020-01-303,74929,9934,01032,078
2020-01-293,74929,9934,01032,078
2020-01-283,74929,9934,01032,078
2020-01-273,74929,9934,01032,078
2020-01-263,74929,9934,01032,078
2020-01-253,74929,9934,01032,078
2020-01-243,74929,9934,01032,078
2020-01-233,74929,9934,01032,078
2020-01-223,74929,9934,01032,078
2020-01-213,74929,9934,01032,078
2020-01-203,74929,9934,01032,078
2020-01-193,74929,9934,01032,078
2020-01-183,74929,9934,01032,078
2020-01-173,74929,9934,01032,078
2020-01-163,74929,9934,01032,078
2020-01-153,74929,9934,01032,078

Gold Rate in Chandigarh

In Chandigarh, gold is primarily used for jewelry and investment purposes, and the country is one of the largest consumers of gold globally. Unlike other countries that use gold for industrial purposes, gold in Chandigarh is primarily a vehicle for investment.

Gold is popularly perceived as a relatively safe investment, especially in times of economic or political uncertainty. During relatively calm times, the price of gold remains stable, while during times of conflict, the price fluctuates.

How to invest in gold

In Chandigarh, gold is bought primarily as a relatively safe investment which has seen significant appreciation in the past. Even though Indians participate in other investment channels, like real estate, on a large scale, investing in gold still forms a significant part of the investment portfolio.

Conventionally, gold is invested in the form of coins, bars, and jewelry in Chandigarh. But in recent times, new avenues of investment in gold have opened up providing investors new opportunities to trade in gold. Investors can now invest in gold-related stocks and mutual funds. For instance, ETFs (Exchange Traded Funds) are simple financial instruments that combine the flexibility of a stock investment and the simplicity of gold investments. The following are some of the more popular ways of investing in gold in Chandigarh:

The most popular way of investing in gold in Chandigarh is still buying gold jewelry. It is common for people across all economic classes to buy gold on festive and auspicious occasions as it is traditionally seen as a safe and simple investment. The one disadvantage to buying gold jewelry is that you need to pay for the making charges, which could add up to another 10% to the price. Moreover, the popularity of designs and fashion change and you might not receive the same price for your jewelry when you want to sell it. There could be additional costs if you sell the jewelry to a different jeweler than the one you bought it from.

Buying gold jewelry for immediate use might be a viable option, but if you plan to hold it as a long term investment, then there are other more convenient and cost-effective options available now.

Gold coins, biscuits and gold bars

Gold coins, biscuits and bars are another option for investing in gold. You can get coins in differing weights that can accommodate differing budgets. You can buy coins at a bank or from a certified jewelry showroom. However, keep in mind that banks only sell gold coins and do not buy them back, so you will need to sell it to a jeweler.

Gold ETFs

Traditional forms of gold investing, like buying jewelry, are slowly making way for newer forms of investing, like ETFs, gold mutual funds and derivatives.

Individuals looking to invest in gold in Chandigarh can buy Exchange Traded Funds (ETFs). Investments in gold ETFs can be done online, changing the way how gold is bought and giving gold investments in Chandigarh a whole new dimension. Each ETF unit is equivalent to 1 gram of gold. They are gaining in popularity as they enjoy a few advantages over buying physical gold like jewelry or coins.

1. Since ETFs are traded on the stock exchange you can buy and sell easily and there are no liquidity issues.

2. If you hold it beyond a year, it can have certain tax benefits.

3. Since the ETFs are held in a demat account, you need not worry about the physical safety of the gold asset and the storage issues. There is no possibility of theft as the ETFs are held in electronic form. You are spared a lot of the headache and worry associated with buying physical gold such as jewelry.

However, there is a cost to trading in ETFs on your trading account, which is usually a percentage of the investment made. You might also be charged for storing the gold in the bank vault.

Most investors in gold ETFs do so for the high liquidity and the ease and simplicity of investing in this instrument. Keep in mind, however, that in order to trade in gold stocks; you must have an appetite for risk and a familiarity and knowledge of gold as a commodity and of stock markets in general. Like all other commodity prices, gold prices tend to rise and fall for a variety of reasons and require constant attention, disciplined monitoring of market movements, and an ability to evaluate pricing information.

Gold mutual funds and derivatives

There are other ways to invest in gold as well. You can invest in mutual funds like a fund of funds (FOF) that focuses on holding units of other gold-related funds. Or you can opt for a fund that holds stocks of gold companies listed on the global stock exchanges.

Another option is to trade in derivatives. However, to do this you will need an account with a commodities broker and will have to pay charges on the trading. Trading in derivatives is a high-risk investment option.

How to buy gold

Buying gold isn’t rocket science given the multiple options available, but there are a few sensible ways to go about it. Investing in gold can be an expensive business and it is important to keep the following points in mind before spending your hard earned money.

Research gold rates

Gold prices fluctuate on a daily basis and it is important to observe market trends and stay in touch with the latest market trends. This will help you make the best and most informed decision on when to buy or sell.

Decide what kind of gold you want to buy

Gold comes in various forms like bars, coins, gold stocks, and jewelry. Each form offers its own unique advantages and disadvantages. If your intention is to sell the gold at a later date, then jewelry might not be the most optimal option and you could consider other forms of gold investment.

Ensure Certification

Easily the most important aspect when investing in gold is to look for the certification of the gold. Certain laboratories known as Assaying and Hallmarking Centres are authorised to certify the purity of the gold - jewelers do not certify the purity. However, only jewelers licensed by BIS (Bureau of Indian Standards) can get the jewelry certified at these Assaying Centres. Hallmarked jewelry can attest to different caratage, so a hallmark does not necessarily signify only 24K purity – it could be attesting 21K, 18K or even 14K purity.

Online purchase

There are a number of online gold sellers today. While it may be convenient to buy online, you need to be very careful about buying only from trusted certified sellers as there is vast scope for adulteration and cheating.

How to buy gold coins in Chandigarh

Gold coins are extremely popular in Chandigarh as a gift on auspicious occasions. It also makes for an excellent investment choice since gold coins are available in different weights, which gives investors the freedom to choose according to their budget. A number of jewelers and banks sell gold coins. Gold coins are available online as well, although it can be risky to buy from anyone other than a certified jeweler/seller. Make sure that you get a purity certificate when you buy a gold coin. While banks sell gold coins, they are not authorised to trade in them so you might not be able to sell them back to the bank.

How to buy gold bars

The most important thing to keep in mind while buying any kind of gold is to check the current market rates. Gold bars can be purchased from banks and big jewelers, as they are typically kept for serious investors. These bars typically range from 500 gm to 1kg.

How to sell gold

In Chandigarh, gold is always in demand, making it a highly liquid asset. Selling gold is not difficult, as most jewelers and pawn shops are willing to buy gold. But keep in mind that intricately designed jewelry might fetch lower prices than expected, as jewelers do not pay for the design but only for the weight of gold. Some jewelers might pay lower than the market price, although many jewelers and pawn shops are willing to buy gold at market rates. It is advisable to get quotes from a few buyers before making a decision. You need to make sure that you are aware of current market prices and the weight of the gold you are planning to sell so that you get the best possible price.

It is always a good idea to sell gold coins and gold bars rather than jewelry as they tend to attract better rates from jewelers as compared to jewelry.

If you do not want to sell your jewelry but are in need of funds, you can always avail of a gold loan against it, in case of an emergency. Banks and other NBFCs offer attractive interest rates on gold loans. Since your gold is used as security, there is very little documentation and the loan approval and disbursal process is quick.

How much is gold worth

Gold is one of those precious metals which will always be of value. However, it is impossible to predict the price of gold and whether it will continue to appreciate as an asset or not. Although gold prices fluctuate constantly, it has shown a generally upward trend in the past.

Factors affecting gold price in Chandigarh

Below are some of the key factors that contribute to the price of gold in Chandigarh.

Strength of the US Dollar:

A strong US Dollar means falling gold prices in Chandigarh as investors invest in the currency rather than in the metal. On the other hand, if the dollar weakens, banks tend to invest in gold instead of the depreciating dollar. This move is taken in order to hedge against any uncertainties. This increased demand leads to an increase in the price of gold. Similarly, when the US dollar strengthens, investors shift their investments from gold to the US dollar. This fall in the demand of gold leads to a consequent fall in the price.

Import costs:

Chandigarh meets a huge chunk of its gold needs through imports, which means that import rates affect the gold price within the country. Since trading takes place in US dollars, a stronger dollar makes buying gold more expensive.

Fixed Deposit interest rates:

A fixed deposit is the most popular investment option for many millions of Indians. Gold comes a close second. When the FD rates fall, investors prefer investing in gold as an alternative investment option. When the demand for gold rises due to increased demand, the price increases too.

Economic stability:

The price of gold tends to surge during times of economic crisis, as gold is considered a stable asset. Investors move their money out of riskier investment channels into gold. Gold also comes with the advantage of high liquidity and continues to be held in great value in times of instability.

Seasonal price:

In Chandigarh, demand for gold tends to rise during auspicious festivals, marriage seasons and other occasions, leading to increased prices.

Inflation:

The price of gold tends to surge during inflation. Since gold is bought as a hedge against inflation, this spiraling trend increases the price of gold.

Demand-supply:

Chandigarh’s contribution to the production of gold globally stands at a mere 0.75%. Since domestic production of gold in Chandigarh is severely limited, there is a crunch in supply too. In order to meet the staggering demand, gold is imported in large quantities. Similarly, when there is a crunch in the global supply of gold, gold prices surge upwards.

Mining/production costs:

Gold mining requires large utilisation of energy per gram of gold produced and this cost is factored into the price. The gold price is also subject to the mining companies increasing prices because of production costs. This is reflected in the price paid while importing gold into Chandigarh.

International prices:

When gold prices surge in the international market, the price of gold increases in Chandigarh as well. For instance, when the central banks buy gold as a hedge against inflation, the price of gold tends to go upward globally.

It is important to keep in mind that gold prices can also vary across different cities in Chandigarh. Key reasons for differences in domestic gold prices are:

Transportation cost:

Chandigarh imports most of its gold. Hence, port cities such as Mumbai and Chennai tend to have slightly lower costs than a city which is situated far away from the port owing to the cost associated with transportation of the precious metal.

State taxes:

Different states in Chandigarh levy different taxes which can cause a variation in price between states.

Volume of demand in different cities:

Chandigarh is a large country with a diverse population and demography. In rural areas, where the population is sparse, gold is priced higher than densely populated areas, where prices tend to be comparatively lower. Large cities, where the volume of demand is greatest, trade in large amounts of gold leading to slightly lower prices. Cities like Chennai, Delhi and Mumbai which see substantial gold demand tend to have slightly lower prices than other parts of the country.

Measurement of gold

The weight of gold is measured in grams or troy ounces (1 troy ounce = 31.1034768 grams)

What is a Karat?

Karat is used to represent the purity of gold. In simpler terms, it is a unit of fineness or purity. It refers to the ratio of an alloy mixed with gold such as copper. Since pure gold is very soft, it needs to be alloyed with another metal in order to allow it to be made into jewelry etc.

24K or 24 Karat gold is pure gold. Following is the fineness scale which is used while defining the purity of gold:

24 K = 99.9% Pure

22 K = 91.3% Pure

18 K = 75% Pure

14 K = 58.5% Pure

10 K = 41.7% Pure

Disclaimer: The information on the prices of gold rate is merely indicative and is susceptible to change with market value and is provided on an as-is basis. The information contained here is not intended as investment advice. CreditMantri is in no way responsible for any loss arising from the use of data contained in this website.

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