Gold Rate in Anantapur

Gold is available in different forms, such as coins, bars, jewellery, ornaments, biscuits, etc. But other than having a cultural significance, you can also use gold as collateral in times of financial hardships.

 

Other than investing in physical gold, you can also opt for modern investment options suitable for you. If you are planning to buy a gold item, the most crucial step is to check out the recent gold price in Anantapur.

Check out the gold price today in Anantapur for different weights below.

Gram	22 Carat Gold Rate Today	22 Carat Gold Rate Yesterday	Daily Price Change
1 Gram	₹7,810	₹7,730	₹80
10 Gram	₹78,100	₹77,300	₹800
100 Gram	₹781,000	₹773,000	₹8000

Gold price in Anantapur with fluctuations in the last few days, is shown below:

Gold price in Anantapur with fluctuations in the last few days, is shown below:

Gold has been a traditional investment option to hedge against inflation. Some of these investment options are listed below in detail.

• Physical Gold

These include gold items such as jewellery, ornaments, coins, or biscuits. This investment type is the most common option opted by people for years. You can simply purchase this form of gold by visiting your nearby gold seller.

• Digital Gold

You can also directly buy gold online through fintech platforms. You can store your gold possession digitally, which you can claim through the same fintech platform.

• Gold ETFs

The Gold Exchange-traded Funds are open-ended investment schemes that track the fluctuating prices of this glittering metal. One ETF is equal to the value of 1 gram of gold. 

• Gold Mutual Funds

These types of mutual funds invest in gold and gold-related assets. These include gold ETFs, mining companies, producers, and bullion.  

• Sovereign Gold Bonds (SGBs)

The Reserve Bank of India (RBI) issues these are government securities on behalf of the Indian Government. Apart from the appreciation of gold assets, you can earn a fixed interest rate of 2.50% p.a.

To make a well-versed investment decision, it is crucial to take care of the following aspects:

• Be Aware of Current Gold Prices

Since gold prices keep fluctuating, you need to keep track of the gold rate in Anantapur. By knowing the gold prices from commodity exchanges, you can ensure you are not paying extra.

• Choose a Reputable Seller

You also need to choose a reputable and trustworthy seller. You can select one by checking online reviews and getting recommendations from your friends and family. 

• Ensure Hallmark Authentication

The Bureau of Indian Standards (BIS) issues hallmark certification, which is one of the most important authenticity stamps. It includes the accurate purity of gold, along with the details of the jeweller and unique identification number. 

• Ensure Complete Documentation

When you are buying gold in Anantapur, it is important to take complete bills and receipts of the transaction. This comes in handy for future reference and if you wish to opt for a gold loan on the same gold item.

• Evaluate Additional Charges

Some jewellers also impose additional charges, such as making charges for hidden taxes, at the time of purchase of physical gold. Before paying the gold item's final value, you must understand all these charges.

• Compare Options

There are numerous options for you to purchase gold in your local city. Many sellers provide competitive pricing along with attractive offers and discounts. Before making the final decision, it is better to compare different alternatives.

The gold price in Anantapur today can be different from the gold prices yesterday or days before. To understand why gold rates fluctuate, check out the factors that affect gold prices. 

• Change in Currency Rates

Since currency rates fluctuate frequently and India is an importer of this precious metal, gold rates may directly impact different countries and cities.

• Inflation

Since gold is considered a hedge against inflation, the prevailing rates can also affect the rates of this glittering metal. Its value generally tends to rise when inflation rises, and vice versa. 

• Demand and Supply

In case of increased demand, gold prices generally rise, and vice versa. Moreover, the gold rates can increase if there are issues in the global supply chain.

• Government Regulations

A change in government rules and regulations can also have a direct impact on gold rates. For instance, a reduction in import duty by the Government can lead to reduced gold prices.

• Geopolitical Conditions

Changing geopolitical developments, such as conflicts, elections, etc., can affect gold  prices. During political unrest or international conflicts, gold is often considered as a safe haven asset, and its demand may rise, leading to price increases.

Gold comes in different purity levels. With the naked eye, it is very difficult to analyse if the gold item is pure or has other metal impurities. While an item may look as shiny as gold, it can still be fake. To better understand if your gold is pure, you can take the following steps.

• Magnet Test

Gold has non-magnetic properties, which means it does not attract a magnet. You can simply take the magnet test to see if a gold item gets attracted towards the magnet. If you find that it attracts towards the magnet, it may contain metal impurities.

• Density Test

You can compare the density of your gold item to the actual density of pure gold. If you find a difference between both these densities, the gold item may contain some impurities.

• Hallmark Check

You can check for a hallmark on the gold item you want to buy. A hallmark verifies the gold carats and provides a unique identification number. This ensures that you are buying a trustworthy and accurate gold item.

• Acid Test

It involves scratching a segment of the gold item against a stone and adding a few drops of nitric and hydrochloric acids. If you find dissolving in the solution, it has other metal impurities. Gold does not allow a change in colour while coming in contact with any acid. 

 

Understand Gold Carats

Gold is available in several purity levels. 24 Karat is the highest purity with 99.9% pure gold. However, this type of gold is very soft and not suitable to carve gold ornaments. 

 

22 Karat gold is less pure but still consists of 91.67% pure gold mixed with other metals. Jewellers generally use this category to carve jewellery and ornaments.

 

Advanced Methods to Check Gold Purity 

You can also consult an expert to check your gold item’s purity through advanced methods. It includes X-ray fluorescence testing, which uses X-ray radiation to other metal impurities. 

Goods and Services Tax (GST) applies to all the goods, commodities, and services sold within India. Amendments in the GST rules can have a direct impact on the gold rates. 

 

The GST rate for gold is 3%, which is equally split into 1.5% for Central GST (CGST) and State GST (SGT). The GST rate on making charges is 5%.

The gold rate dictates the amount of the gold loan you can borrow against a gold item. If the price for a specific gold weight increases, the loan amount you can borrow against it also rises. 

 

On the other hand, if the gold price decreases, the loan amount that you can get will also reduce. Hence, it is crucial to keep a tab on fluctuating gold rates to get the most suitable terms. At Bajaj Markets, you can compare gold loans from multiple partners and apply with ease online.