How is gold purity evaluated in Pune?

The purity of gold in Pune and other Indian cities is decided by the Indian Bullion Association. Further, the dealers are required to incorporate the gold jewellery with proper signage such as hallmark that guarantees the purity of the gold in their products.

What are some investment alternatives to physical gold?

Apart from physical gold such as bullion, coins, or ornaments, you can consider investing in this yellow metal through Sovereign Gold Bonds, Digital Gold, Gold Exchange Traded Funds (ETFs) and Gold Mutual Funds. Unlike the price of physical gold, the current gold rate in Pune does not directly impact the value of digital gold investment that have an uniform benchmark for all investors in India.

What are the taxes charged on gold in Pune?

When you buy gold, you should know that apart from the current price of gold in Pune other taxes and costs like making charges are also added to the total value of your jewellery. This includes a 3% GST on gold cost and up to 5% Goods and Services Tax (GST) on making charges of the jewellery.

How can I check the purity of gold?

You can check the purity of the gold items you have purchased by looking at the hallmark symbol. You will typically find this at the back of the jewellery or the inside of a ring. The hallmark sign should mention the gold carat clearly and guarantees the purity of the gold purchased.

What does gold carat signify?

The carat of gold signifies its purity. The higher the gold carat value, the purer the gold would be. In this regard, 24 carat gold jewellery contains 99.9% pure gold, whereas 22 carat gold contains 91.6% of pure gold. Due to the difference in purity, the daily gold price in Pune differs for 22ct and 24ct gold.

Gold Rate in Pune

Name: Today Gold Rate in Pune 22K, 24K Gold Price in Pune
Brand: Axis Max Life Insurance
Rating: 4.3 (2102 reviews)

Pune, one of the largest cities in Maharashtra is a popular destination for IT and financial services companies in India. If you reside in Pune and want to purchase gold, you can opt for physical gold purchase as well as various electronic option. In either case, it is essential that you know the current gold rate in Pune to make an informed investment

Disclaimers: *T&C Apply. Check prospectus for details. Axis Max Life Online Savings Plan (UIN: 104L098V06). A unit-linked non-participating individual life insurance plan | Axis Max Life Insurance Company Limitedis only the name of the Insurance company and Axis Max Life Insurance Online Savings Plan is only the name of the unit linked insurance contract and does not in any way indicate the quality of the contract, its future prospects of returns. 4Tax benefits a per prevailing tax laws, subject to change. Axis Max Life Insurance is only the name of the Life Insurance Company and Axis Max Life Online Savings Plan is only the name of the linked insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns. LIFE INSURANCE COVERAGE IS AVAILABLE IN THIS PRODUCT.

Gold Rate Today in Different Cities

Historical Gold Rates

Gold Rate	22k	24k
1st November 2023 Rate	Rs. 5640/gm	Rs. 6153/gm
30th November 2023 Rate	Rs. 5750/gm	Rs. 6273/gm
Highest Rate in November	Rs. 5810/gm on November 29	Rs. 6338/gm on November 29
Lowest Rate in November	Rs. 5545/gm on November 13	Rs. 6049/gm on November 13
% Change	(+) 1.95%	(+) 1.95%

Factors Affecting Gold Rate in Pune

Several factors join hands to influence the gold price in Pune. Find about them below:

Inflation

Most individuals buy or invest in gold as a hedge against inflation. This is because gold is mainly considered as a safe investment option. So, as inflation goes up, more individuals purchase this yellow metal. This shoots up the demand and increases the price of gold in Pune and other cities in India.

International Market Conditions

Very little gold is mined in India hence it is a key import for the country. So changes in internal gold prices will lead to a rise in the price of gold in Pune as well as the rest of India. International gold prices can be impacted by the performance of global equity markets as well as various geopolitical events, this in turn also impacts the rate of gold in Pune on a day to day basis.

Demand and supply

In an economy, the price of all goods and services are decided by the law of demand and supply. When it comes to gold, the higher the demand, the more price you would have to pay to purchase a gram of this metal. For instance, during wedding season or festivals, the rate of gold in Pune often goes up due to an increase in demand. Similarly, the supply of gold in India is decided through government reserves. If the Reserve Bank of India decides to increase its reserves by buying more gold, it will lead to a decrease in gold supply in the domestic market. This can also increase the current gold rate in Pune and other parts of India.

Conversion rate

The currency rate is another factor that impacts the gold rate in Pune. If the rupee weakens against the dollar, the conversion rate will increase, which will also lead to higher gold cost in the country. This is mainly due to fact that a majority of gold is imported from overseas and very little gold is mined in India.

Taxes and import duty

Imported gold attracts customs duty, which is decided by the government. If the government decides to increase the customs duty, it will increase the cost of gold in Pune as well as the rest of the India. Moreover, local taxes and distribution costs are other factors that can dictate today’s gold rate in Pune today.

Benefits of Checking Gold Rate in Pune Today

Checking the rate of gold in your city at regular intervals can help you in several ways, such as:

Help Plan Investments

Examining frequent gold rate trends in your city can help you know when it's the right time to purchase the yellow metal. Further, regular tracking can also let you know the right time to sell gold investments to maximise your returns.

Helps Make Informed Decisions

When you track the recent developments in the gold market in your city and across India, it helps you stay informed on the movements of the domestic gold market. This makes you an informed investor and can help you align your portfolio to manage overall risk better and optimise potential returns. Gold can be the perfect investment avenue if you are well aware of the current market conditions. To track the performance of your investments and maximise returns, it is essential that you check the gold rate in Pune at regular intervals.

Frequently Asked Questions(FAQs)

ARN NO: PCP/GRTP/090424

Sources:

https://www.iifl.com/blogs/gold-loan/what-is-24k-and-22k-gold

https://groww.in/gold-rates/gold-rate-today-in-pune

https://www.livemint.com/market/commodities/five-factors-affecting-gold-prices-11656733639500.html

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Gold Rate in Pune

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Gold Rate Today in Different Cities

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