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Today's Gold Price in Goa
Besides the exotic beaches and the rich scenic adhesive that keeps you coming back for more to this states, gold holds importance here, because of a cosmopolitan population that has a mixed culture of both India and Europe. Gold rate today in Goa are of importance because a lot of foreign influence affects the state’s trade and economy. The main industry of this states is tourism along with agriculture but like in other states of India. People in this state love gold for ornamentation and is often seen as a safe haven for investors.
Gold plays a vital role in the state’s history,too. In the early twelfth century Kadambas ruled Goa for over 400 years, when they issues gold coins. The first Portuguese mint that was started in the East, by Alburquerque was in Goa which issued gold coins along with silver and bronze in the sixteenth century. Even today, gold has a significance in trade and retail market. Read on to more about gold rates in Goa and what affects it.
|Parameter||Gold price (24 karat)|
|August 1 Rate||Rs.5,056 per gram|
|August 31 Rate||Rs.5,061 per gram|
|Highest Rate in August||Rs.5,156 per gram on 14 and 15 August|
|Lowest Rate in August||Rs.5,035 per gram on 29 August|
Trend of Monthly Gold Rate in Goa for August 2022
- Gold prices in Goa opened at the rate of Rs.5,056 per gram for the month of August.
- The lowest price of the precious yellow metal was recorded on 29 August wherein it stood at the rate of Rs.5,035 per gram. The highest rate of gold was recorded on 14 and 15 August when it stood at the rate of Rs.5,156 per gram.
- Gold closed the month of August standing at the rate of Rs.5,061 per gram. The overall performance of the yellow metal over the month witnessed an inclining trend of 0.10%.
Gold Investment Avenues in Goa
Goa is one of the most exotic places in India, because of its offbeat culture from the rest of the country. Despite colonisation and the civil disturbances of 1961, this beautiful state has come through as a wealthy region of the country. Hence, gold is not something that is ignored here.
Over The Counter - Gold is sold in coins, bullions and jewelery. The cosmopolitan and Indian fusion has created a base for jewelry buyers and designers alike. Investors can buy gold from the various bullion dealers such as Pentagon, Pushpak and Muthoot etc. The usual brands such as Tanishq and Malabar Gold are jewellers well known in Goa. due to Goa’s adequate location there is a demand for gold from tourism industry as well.
Trade - Spot contracts, futures contracts and exchange-traded funds (ETF) are the most common ways of gold trade in international gold rates. The gold ETFs are traded through the Mumbai sTock Exchange.
- Check - Today's Gold Rate in Panaji
FAQs on Gold rate in Goa
- Can Indian jewelers sell gold which is not hallmarked in Goa?
No, Indian jewelers can only sell gold in India which is BIS certified.
- Was the price of gold affected due to the outbreak of Covid-19?
Yes, the outbreak of Covid-19 not only impacted the price of gold in India but also affected its price globally.
- Does inflation play a role in the price of gold increasing in Goa?
Yes, inflation plays a major role in the price of gold increasing as it is considered to be a safe haven.
- How pure is 24-karat Gold in Goa?
A 24-karat gold is 99% pure and is considered to be the purest form of yellow metal as there are no other metals mixed with it.
- How can I check if Goa gold is pure?
One of the ways to check whether your gold is pure or not is to bring it near a magnet. If it gets attracted to the magnet then it is certainly not pure. The other method to check the purity of gold is to immerse it in water. If it sinks to the bottom then your gold is pure.
- How much GST is levied on gold in Goa?
A GST of 3% is levied on purchasing gold in any form.
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