Gold Rate in Siliguri Today

Keeping track of the gold rate in Siliguri can help you make better decisions, whether you are buying for personal use or investing. Gold prices can fluctuate due to numerous local and global factors. 

 

By staying informed, you can choose the right time to make your purchase, ultimately saving money.

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

Gram	22 Carat Gold Rate Today	22 Carat Gold Rate Yesterday	Daily Price Change
1 Gram	₹7,805	₹7,805	₹0
10 Gram	₹78,050	₹78,050	₹0
100 Gram	₹780,500	₹780,500	₹0

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

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

Consider adding gold to your investments to improve your portfolio and protect yourself from inflation. After you find out the current gold prices in Siliguri, here are a few options to make gold investments: 

• Physical Gold

Buying gold jewellery, bars, or coins serves as a traditional and reliable investment option which offers a hedge against economic uncertainty and inflation. You can use these tangible gold assets as required, whether you need to store them or wear them on special occasions. 

• Digital Gold

Another way to invest in digital gold is through online platforms or apps. You can purchase and own gold in electronic form, eliminating the risk of theft or loss. You can store it in a secure locker in your name.

• Gold Exchange Traded Funds (ETFs)

Gold ETF that tracks the price of domestic physical gold. This way, you can invest in gold without the need to actually buy it. Each gold ETF unit represents 1 gram of high-purity gold.

 

Read also: Difference between physical gold and SG

• Sovereign Gold Bonds (SGBs)

These government-issued securities are valued in grams of gold. The Reserve Bank of India (RBI) issues these bonds, and they are redeemable in cash upon maturity. 

Before buying gold, consider the following factors to make a more informed and secure purchase:

• Current Gold Rate

Stay informed about the current gold rate in Siliguri by checking with reliable sources like commodity exchanges. This helps you understand if the prices being offered by the seller are reasonable and in line with market standards. 

• Personal Preference

Spend time researching and comparing various sellers, especially if you are purchasing jewellery for personal use. This approach can help you discover the ideal piece that aligns with your taste and budget.

• Seller’s Reliability

Look for reputable and well-established jewellers known to ensure you get high-quality gold. Research customer reviews, ask for referrals, or visit prominent jewellery shops to guarantee the quality and authenticity of your purchase.  

• Hallmark Certification

This certification assures the gold's purity, ensuring that what you purchase meets your expectations. In India, this certification is regulated by the Bureau of Indian Standards (BIS) to promote fair trade practices. So it’s very important to know How to Identify Hallmark on Gold Jewellery.

• Making Charges

In addition to the gold price, check the making charges on the jewellery. Most jewellery charge it to compensate for the labour they put in to create the piece. Higher making charges can influence the total cost of the item.

When considering gold purchases, it is essential to recognise the factors that affect current gold prices. The following are the factors that influence the gold rate in Siliguri: 

• Current Exchange Rates

Changes in foreign exchange rates, particularly the Indian Rupee's value against the U.S. Dollar, can affect gold prices. This is because gold is traded in U.S. Dollars.

• Demand and Supply

The local appetite for gold jewellery, coins, and bars, along with the overall availability of gold, influences pricing. A higher demand leads to an increase in prices and vice-versa.

• Inflation

Economic conditions, especially inflation levels, can impact gold’s value. Since gold is considered a safe haven during inflation, an increase in gold's demand can lead to increased prices.

• Government Policies

Changes in government regulations, including import taxes, can affect gold pricing. Higher taxes on gold may lead to an increase in gold prices.

To measure the purity of gold, consider these effective techniques that provide a basic idea about gold purity:

• Check Hallmark Stamps

Using a magnifying glass, you can examine the gold for hallmarks or stamps indicating purity.

• Visual Inspection

Pure gold does not lose its colour after rubbing, coming in contact with water, or with time. Check for discolouration to assess the purity.

• Magnetic Test

Using a magnet can help differentiate gold from other metals, as real gold is not magnetic in nature.

• Nitric Acid Test

You can use nitric acid to test the gold’s purity. A professional may be more equipped to carry out this test due to the use of chemicals.

The price of gold in Siliguri may experience changes due to any amendments in the Goods and Services Tax (GST). This is because a GST applies to gold purchases. As per the recent taxation rules, a 3% GST is applied to gold purchases in different forms, such as jewellery, coins, and bars. In addition, a 5% GST is charged on the making charges for gold jewellery.

Using gold as collateral to get a gold loan has become a practical way to access funds for a plethora of financial needs. The gold price directly affects the amount you can obtain against your asset. 

 

When prices go up, you can get a larger loan amount. On the other hand, lower prices lead to smaller borrowing limits on the same gold asset. Keeping an eye on these rates can help maximise borrowing based on current valuations.