Gold Price in Aurangabad

As Aurangabad has been home to great rulers and emperors and gold has always been considered a significant metal in the city, the residents of Aurangabad prefer gold as the best investment option. Even today, after centuries of rulings by kings and emperors, its people are popular as the prime consumers of gold. It is considered the best gifting option by the people of Aurangabad to their dear ones during occasions and festivities. In addition, with its high liquidity, it is considered the best investment alternative compared to other investments.

Gold Rate in Aurangabad Today

Today, the gold rate in Aurangabad is ₹6976.80 per gram for 22k gold and ₹7611.00 per gram for 24k gold.

Hence, the rate for 10 grams of gold for 22k is ₹69768.00 and ₹76110.00 for 24k gold

How to Purchase Gold in Aurangabad?

To purchase gold in Aurangabad, you must keep the following points in mind:

Gold Jewellery

Gold jewellery is considered the safest investment option by most Indians. Hence, if you are willing to purchase gold jewellery in Aurangabad, consider the key points discussed below:

• Gold is a highly preferred purchase for most residents of Aurangabad and is available at most jewellery outlets in Aurangabad.
• When purchasing gold as an investment, ensure that you purchase only hallmarked gold jewellery. This ensures gold purity under the government verification process.
• Purchasing gold jewellery also includes manufacturing costs along with the gold price, and you cannot cover the making cost of gold when selling your jewellery.

Gold Bars and Coins

If you are willing to invest in gold without paying the manufacturing cost, you must prefer purchasing gold bars and coins to add physical gold to your portfolio.

Check the key highlights below before investing in gold coins and bars in Aurangabad:

• You can purchase gold bars and coins in 24 or 22 karats.
• Ensure to purchase gold bars and coins in tamper-proof packaging.
• When purchasing gold coins, ensure they are BIS hallmarked.
• Taxes charged on both gold coins and bars are 3% GST.

Factors that impact Gold Rate Aurangabad

Factors affecting the gold rate in Aurangabad are as follows:

Local Supply and Demand

With the high demand for gold during wedding season and festivals, the prices of gold can fluctuate. Moreover, changes in import duties and supply dynamics can affect gold prices in Aurangabad.

Global Market Trends

With the international supply and worldwide trade of gold, the price of gold is influenced significantly. Major factors, including currency fluctuations, geopolitical events and economic conditions, directly impact the gold rate . With uncertainties in the international market, investors prefer gold as a safe investment, increasing its prices.

Government Regulations and Policies

Changes in taxes, import duties, and gold import restrictions lead to fluctuations in gold prices. Gold stands as a hedge against inflation, and other government’s inflation-related policies also affect gold prices.

Best Gold Investment Strategies in Aurangabad

Some of the best gold investment strategies to be followed in Aurangabad are as follows:

Diversify your Gold Holdings

By dividing your gold holdings with investment growth from coins to moving toward bars, you can diversify your gold investments with flexibility in managing and selling your gold assets.

Start with Small

Always begin with small investments and move towards greater ones over time. This helps you in spreading your purchases over multiple market conditions, minimising the risk of making large purchases during the peak period of price.

Strong Storage Facility

When investing in physical gold, proper storage is essential. Prefer using professional vault services or bank lockers to ensure the complete safety of your gold.

In Aurangabad, How is the Purity of Gold Evaluated?

The purity of gold in Aurangabad is evaluated by the Indian bullion Association. The gold dealers must incorporate the hallmark symbol of purity in each of their gold products. Gold prices in Aurangabad are influenced by global implications in the worldwide stock market.