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Gold Rate In Goa

Today’s gold rate across all major cities in India

Today Gold Rates In Goa

25 Oct 2020

22 Carat Gold

₹4703

(Per Gram)

24 Carat Gold

₹5030

(Per Gram)

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

	Today	Yesterday	Change(%)
22 Carat	4703	4706	-0.06%
24 Carat	5030	5033	-0.06%

Today 24 Carat Gold Price In Goa (INR)

Gram	24 Carat Gold Yesterday	24 Carat Gold Today	Daily Price
1 GRAM	5033	5030	-0.06%
8 GRAM	40262	40236	-0.06%
10 GRAM	50328	50295	-0.07%
100 GRAM	5032780	5029540	-0.06%

Today 22 Carat Gold Price In Goa (INR)

Gram	22 Carat Gold Yesterday	22 Carat Gold Today	Daily Price
1 GRAM	4706	4703	-0.06%
8 GRAM	37645	37621	-0.06%
10 GRAM	47057	47026	-0.07%
100 GRAM	4705650	4702620	-0.06%

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

Date	Standard Gold - 22 K		Pure Gold - 24 K
Date	1 gram	8 grams	1 gram	8 grams
2020-10-25	4,703	37,621	5,030	40,236
2020-10-24	4,706	37,645	5,033	40,262
2020-10-23	4,699	37,590	5,025	40,203
2020-10-22	4,742	37,940	5,072	40,577
2020-10-21	4,700	37,603	5,027	40,218
2020-10-20	4,676	37,409	5,001	40,010
2020-10-19	4,672	37,374	4,997	39,972
2020-10-18	4,672	37,374	4,997	39,972
2020-10-17	4,681	37,444	5,006	40,047
2020-10-16	4,688	37,503	5,014	40,110
2020-10-15	4,672	37,372	4,996	39,970
2020-10-14	4,650	37,204	4,974	39,790
2020-10-13	4,721	37,771	5,050	40,397
2020-10-12	4,717	37,735	5,045	40,358
2020-10-11	4,717	37,735	5,045	40,358
2020-10-10	4,712	37,694	5,039	40,315
2020-10-09	4,648	37,181	4,971	39,766
2020-10-08	4,632	37,054	4,954	39,630
2020-10-07	4,677	37,413	5,002	40,014
2020-10-06	4,687	37,497	5,013	40,104
2020-10-05	4,665	37,320	4,989	39,914
2020-10-04	4,665	37,320	4,989	39,914
2020-10-03	4,671	37,370	4,996	39,967
2020-10-02	4,686	37,486	5,012	40,092
2020-10-01	4,663	37,307	4,988	39,901
2020-09-30	4,683	37,462	5,008	40,067
2020-09-29	4,649	37,190	4,972	39,776
2020-09-28	4,594	36,755	4,914	39,310
2020-09-27	4,594	36,755	4,914	39,310
2020-09-26	4,605	36,838	4,925	39,399
2020-09-25	4,602	36,814	4,922	39,373
2020-09-24	4,594	36,749	4,913	39,304
2020-09-23	4,689	37,516	5,015	40,124
2020-09-22	4,727	37,815	5,055	40,443
2020-09-21	4,801	38,410	5,135	41,080
2020-09-20	4,808	38,467	5,143	41,141
2020-09-19	4,808	38,467	5,143	41,141
2020-09-18	4,805	38,438	5,139	41,110
2020-09-17	4,806	38,450	5,140	41,123
2020-09-16	4,823	38,583	5,158	41,265
2020-09-15	4,821	38,571	5,157	41,252
2020-09-14	4,792	38,336	5,125	41,001
2020-09-13	4,775	38,201	5,107	40,856
2020-09-12	4,775	38,201	5,107	40,856
2020-09-11	4,791	38,327	5,124	40,992
2020-09-10	4,778	38,226	5,110	40,884
2020-09-09	4,763	38,106	5,094	40,755
2020-09-08	4,745	37,962	5,075	40,601
2020-09-07	4,761	38,088	5,092	40,736
2020-09-06	4,743	37,946	5,073	40,584
2020-09-05	4,743	37,946	5,073	40,584
2020-09-04	4,768	38,142	5,099	40,794
2020-09-03	4,775	38,201	5,107	40,856
2020-09-02	4,809	38,473	5,143	41,148
2020-09-01	4,856	38,851	5,194	41,552
2020-08-31	4,830	38,641	5,166	41,327
2020-08-30	4,812	38,496	5,147	41,173
2020-08-29	4,812	38,496	5,147	41,173
2020-08-28	4,783	38,266	5,116	40,926
2020-08-27	4,848	38,787	5,185	41,483
2020-08-26	4,797	38,373	5,130	41,040
2020-08-25	4,806	38,446	5,140	41,119
2020-08-24	4,855	38,844	5,193	41,544
2020-08-23	4,869	38,952	5,207	41,659
2020-08-22	4,869	38,952	5,207	41,659
2020-08-21	4,881	39,049	5,221	41,764
2020-08-20	4,879	39,030	5,218	41,744
2020-08-19	4,986	39,888	5,333	42,661
2020-08-18	4,990	39,923	5,337	42,698
2020-08-17	4,862	38,893	5,200	41,597
2020-08-16	4,874	38,995	5,213	41,705
2020-08-15	4,874	38,995	5,213	41,705
2020-08-14	4,894	39,149	5,234	41,871
2020-08-13	4,851	38,809	5,188	41,507
2020-08-12	4,809	38,471	5,143	41,145
2020-08-11	5,069	40,552	5,421	43,371
2020-08-10	5,103	40,821	5,457	43,659
2020-08-09	5,114	40,911	5,469	43,756
2020-08-08	5,114	40,912	5,469	43,756
2020-08-07	5,189	41,511	5,550	44,397
2020-08-06	5,113	40,905	5,469	43,749
2020-08-05	5,068	40,543	5,420	43,362
2020-08-04	4,971	39,770	5,317	42,535
2020-08-03	4,947	39,574	5,291	42,325
2020-08-02	4,958	39,665	5,303	42,422
2020-08-01	4,958	39,665	5,303	42,422
2020-07-31	4,921	39,366	5,263	42,102
2020-07-30	4,920	39,362	5,262	42,099
2020-07-29	4,908	39,267	5,250	41,997
2020-07-28	4,937	39,493	5,280	42,239
2020-07-27	4,773	38,182	5,104	40,836
2020-07-26	4,759	38,073	5,090	40,719
2020-07-25	4,759	38,073	5,090	40,719
2020-07-24	4,741	37,927	5,071	40,564
2020-07-23	4,666	37,326	4,990	39,921
2020-07-22	4,637	37,095	4,959	39,674
2020-07-21	4,548	36,385	4,864	38,915
2020-07-19	4,540	36,323	4,856	38,848
2020-07-18	4,540	36,323	4,856	38,848
2020-07-17	4,526	36,211	4,841	38,729
2020-07-16	4,558	36,464	4,875	38,999
2020-07-15	4,555	36,437	4,871	38,970
2020-07-14	4,541	36,326	4,856	38,851
2020-07-13	4,532	36,253	4,847	38,773
2020-07-12	4,531	36,249	4,846	38,769
2020-07-11	4,529	36,232	4,844	38,750
2020-07-10	4,534	36,272	4,849	38,794
2020-07-09	4,547	36,379	4,863	38,908
2020-07-08	4,502	36,015	4,815	38,519
2020-07-07	4,462	35,698	4,772	38,180
2020-07-06	4,441	35,527	4,750	37,997
2020-07-05	4,440	35,522	4,749	37,991
2020-07-04	4,440	35,522	4,749	37,991
2020-07-03	4,443	35,547	4,752	38,018
2020-07-02	4,469	35,752	4,780	38,238
2020-07-01	4,513	36,104	4,827	38,613
2020-06-30	4,484	35,873	4,796	38,367
2020-06-29	4,487	35,893	4,799	38,388
2020-06-28	4,486	35,891	4,798	38,386
2020-06-27	4,479	35,832	4,790	38,323
2020-06-26	4,468	35,742	4,778	38,227
2020-06-25	4,470	35,763	4,781	38,249
2020-06-24	4,480	35,840	4,791	38,331
2020-06-23	4,458	35,666	4,768	38,145
2020-06-22	4,491	35,930	4,804	38,428
2020-06-21	4,453	35,623	4,762	38,099
2020-06-20	4,453	35,623	4,762	38,099
2020-06-19	4,411	35,292	4,718	37,745
2020-06-18	4,413	35,308	4,720	37,762
2020-06-17	4,407	35,259	4,714	37,711
2020-06-16	4,393	35,147	4,699	37,590
2020-06-15	4,407	35,257	4,714	37,708
2020-06-14	4,402	35,213	4,708	37,661
2020-06-13	4,402	35,213	4,708	37,661
2020-06-12	4,417	35,333	4,724	37,789
2020-06-11	4,392	35,139	4,698	37,582
2020-06-10	4,345	34,758	4,647	37,174
2020-06-09	4,288	34,306	4,586	36,690
2020-06-08	4,272	34,178	4,569	36,554
2020-06-07	4,262	34,092	4,558	36,462
2020-06-06	4,262	34,092	4,558	36,462
2020-06-05	4,329	34,631	4,630	37,039
2020-06-04	4,295	34,363	4,594	36,752
2020-06-03	4,344	34,753	4,646	37,169
2020-06-02	4,403	35,225	4,709	37,674
2020-06-01	4,397	35,173	4,702	37,619
2020-05-31	4,375	35,000	4,679	37,434
2020-05-30	4,375	35,000	4,679	37,434
2020-05-29	4,357	34,856	4,660	37,279
2020-05-28	4,349	34,793	4,652	37,212
2020-05-27	4,330	34,642	4,631	37,051
2020-05-26	4,388	35,107	4,693	37,547
2020-05-25	4,401	35,212	4,707	37,660
2020-05-24	4,417	35,336	4,724	37,793
2020-05-23	4,417	35,336	4,724	37,793
2020-05-22	4,373	34,985	4,677	37,417
2020-05-21	4,417	35,336	4,724	37,793
2020-05-20	4,434	35,475	4,743	37,941
2020-05-19	4,415	35,323	4,722	37,778
2020-05-18	4,460	35,678	4,770	38,158
2020-05-17	4,428	35,421	4,735	37,884
2020-05-16	4,428	35,421	4,735	37,884
2020-05-15	4,374	34,994	4,678	37,426
2020-05-14	4,335	34,684	4,637	37,095
2020-05-13	4,313	34,500	4,612	36,899
2020-05-12	4,313	34,500	4,612	36,899
2020-05-11	4,323	34,586	4,624	36,991
2020-05-10	4,306	34,450	4,606	36,845
2020-05-09	4,306	34,450	4,606	36,845
2020-05-08	4,357	34,852	4,659	37,275
2020-05-07	4,311	34,485	4,610	36,882
2020-05-06	4,325	34,602	4,626	37,007
2020-05-05	4,325	34,603	4,626	37,008
2020-05-04	4,312	34,500	4,612	36,898
2020-05-03	4,294	34,356	4,593	36,744
2020-05-02	4,294	34,356	4,593	36,744
2020-05-01	4,262	34,093	4,558	36,464
2020-04-30	4,324	34,592	4,625	36,997
2020-04-29	4,359	34,869	4,662	37,293
2020-04-28	4,350	34,800	4,652	37,220

Gold Rate in Goa

In Goa, 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 Goa 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 Goa, 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 Goa. 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 Goa:

The most popular way of investing in gold in Goa 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 Goa 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 Goa 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 Goa

Gold coins are extremely popular in Goa 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 Goa, 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 Goa

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

Strength of the US Dollar:

A strong US Dollar means falling gold prices in Goa 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:

Goa 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 Goa, 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:

Goa’s contribution to the production of gold globally stands at a mere 0.75%. Since domestic production of gold in Goa 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 Goa.

International prices:

When gold prices surge in the international market, the price of gold increases in Goa 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 Goa. Key reasons for differences in domestic gold prices are:

Transportation cost:

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

Volume of demand in different cities:

Goa 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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