Today Gold Rate in Chirimiri

1. Sovereign Gold Bonds (SGB): The Government of India introduced Sovereign Gold Bonds (SGB) in the year 2015 under the Gold Monetization Scheme.  The SGBs is one of the highest returns offering scheme offered by the Indian government. These bonds come with a maturity period of eight years. However, if you have subscribed to this scheme, then you can also exit after five years. The price of an SGB is calculated by finding the average closing price of 999 purity gold on the last three working days of the week that precedes the subscription period. 
2. Gold ETFs: Another option to invest in gold is through Exchange Traded Funds (ETFs). ETFs are slowly emerging as a popular choice against traditional ways of investing in gold. A single ETF unit can be 0.01 gram of gold, 0.5 gram of gold or 1 gram of gold. You can choose the unit size for investment depending on the amount you wish to invest. However, you need to have a Demat account to invest in ETF.  Investing in ETFs comes with several advantages like they are easy to buy and sell since they are traded on the stock exchange. Moreover, if you are holding an ETF for more than a year, you may get certain tax benefits. Since you are holding the ETFs in a Demat account, you need not worry about storing it physically.  
3. Gold Mutual Funds: Investing in gold mutual funds is another popular choice apart from ETFs. Investing in gold mutual funds does not require you to have an a Demat account. Moreover, the Securities and Exchange Board of India (SEBI) regulates these funds and ensure that the investors get all information related to funds. These funds have to disclose their expense ratio, holdings and performance regularly, which helps investors make informed investment decisions. 

Reasons for gold considering a good investment option in Chimri: 

The value of gold is acknowledged worldwide and can be easily sold in times of need. Few of the reasons that makes gold a safe and sensible investments, are listed below: 

1. East Liquidity: The yellow metal can be easily converted into cash at any location and in any time. This comes handy and is helpful in times of adversity.  
2. Stability: Though the price of the precious metal fluctuates on a daily basis, its value remains unaffected over the long term and always keeps on increasing. 
3. Hedge against inflation: The price of the yellow metal also goes up as the rate of inflation increases. That is why, investing in gold at this time is preferable compared to doing so in any other asset. 
4. Versatile metal: Gold is a versatile metal and is used to make a wide range of jewellery pieces, coins, bars, gift items, and more. That is why, the price of gold is expected to increase during the period of increased demand for these valuables. 

1. Portfolio diversification: When you invest in gold, the overall risk associated with your investment reduces, and this helps your investment portfolio. Gold is considered a good investment choice because its price is inversely proportional to the value of currencies and the stock market. 
2. Traditional value: In Indian culture, the yellow metal has always been viewed as more than just an investment option. It holds a significant traditional and cultural value. In most of the Indian families, gold jewellery is passed down from a mother to the bride at the wedding ceremony. It plays a sentimental role in some traditions and is still prized as an heirloom. 

Points to remember when purchasing gold in Cimri: 

Though buying gold is a simple process, it can be tricky at times given constant price fluctuations, hallmark certificates, etc.  It is important to consider the below-mentioned points when investing in gold to ensure that it is worth the money:   

1. Do your research well: The rate of yellow metal in Chimri is revised on a daily basis and is based on the gold price in international market. When planning to buy gold jewellery, keep an eye on the market fluctuations. Most of the jewellery stores in India, display the bullion rates regularly for their customers. This rate will help you in calculating gold price and discount the purity of gold from bullion price. 
2. Bargain on making charges: Making charge is the labour cost which jewellers charge for making the jewellery. There is no fix making charge percentage or rate and varies from jeweller to jeweller. In most cases, making charge is a certain percentage of the gold price. That is why, it is important that you check making charge before buying gold jewellery and it is within your rights to bargain on it.  
3. Certifications: Check for the hallmark on gold jewellery. Hallmark is a process through which government verifies the purity of jewellery. It is important that you buy from a BIS-hallmarked jeweller. The BIS website also consists as list of the hallmarked jeweller across country. You can check this list for reference. 
4. Do not buy jewellery without bills: A lot of times people buy jewellery without bill to avoid taxes. Though this may sound beneficial in small term, this can land you in trouble over the course of time or when you wish to resell the gold jewellery. Always ask for a proper bill when buying gold jewellery.  

Factors that affect the Rate of Gold 

The price of the yellow metal in Chimri is affected by numerous factors are numerous, and it is important to note these factors if you are a trader or investor. The below mentioned are some major factors that are responsible for the fluctuation in gold prices in the Chimri: 

1. Cost of importing gold in India: Though India’s obsession with the yellow metal is world renowned, it does not have much of it. Most of the gold used in the country is imported. Chimri, too, heavily relies on the imported gold. Thus, import rates significantly affect gold prices. The trading is done in US dollar, which makes buying gold costlier. 
2. Demand of the yellow metal: In India, gold is not just an investment option but also a fashion accessory which we flaunt at every chance we get. That is why, the price of gold increases during marriage seasons, festivals and auspicious occasions like Akshay Tritiya. 
3. Strength of the Indian rupee: The London bullion market decides the spot price of gold. This price is in terms of American dollar, euros and pounds. Whenever the value of the rupee falls, the exchange rate is higher. That is why, the strength of the Indian rupee affects the gold rate.  

1. Government held gold reserves: The Indian government holds reserves of gold. All the buying and selling of gold is done through the Reserve Bank of India (RBI). That is why, the price of gold rises when the central bank of India buys more gold. 
2. Rate of inflation: Over the years, gold has been viewed as a safe investment option. In comparison to the value of currency, the value of gold is quite stable, making it a favorable form of investment. Buying and holding is used as a safety net against inflation. The gold prices increase when there is an increase in rate of inflation since there is a huge demand for the yellow metal. The rate of inflation in the country would affect the prices of gold in Chimri, Bangalore, Tripura, and all over India. This holds true for international gold prices as well. 
3. Rate of interest: Generally, most of the sell off their gold funds or gold during the rise in rate of interest and invest that amount in deposits instead to earn higher returns. That is why, the demand for yellow metal decreases, which eventually results in a decline in the rate of gold. However, do note that the investors are more likely to choose gold over deposits when the rate of interest drops. In such case, the price of yellow metal will go up as the demand for gold incraese.