In India, gold is mostly used for jewellery and investment. As a result, India is one of the top gold users in the world. In contrast to other countries, where gold is generally used for industrial purposes, India uses gold mostly for investment purposes. Gold is frequently regarded as a relatively safe investment, particularly during times of economic or political uncertainty. Women choose gold jewellery for special events. People in India buy gold to mark the success of any significant event. Make sure to check the gold rates in your city before making any purchases. Apart from the price of gold there are a lot of other factors as well that you should take into consideration like the quality of gold. The quality of gold also influences the price of gold that you are willing to buy. Moreover, the Gold Rate today India varies from one city to another throughout the country. As a result, it is important that you must first check the price of gold in your city before purchasing gold.
Gold Purity & its Classification
Generally, the quality of gold is measured in carats which is denoted by the symbol ‘K’. 24 carat gold is the purest form of gold available today followed by 22 carat and 18 carats. The 24 carat gold is made up of all 24 parts as pure gold and is 99.9% pure in nature. Whereas the 22 carat gold is made up of 22 parts of pure gold with the remaining 2 being other metal alloys and is 91.6% pure in nature. The 18 carat gold, on the other hand, is 75% pure in nature. Below are the three gold purity standards along with their percentage of purity.
- 24K (Karat) – It is 99.9% pure.
- 22K (Karat) – It is 91.6% pure.
- 18K (Karat) – It is 75% pure.
These three are the top qualities of gold available in the Indian market. However, the 24 carat gold is brittle in its purest form and can be easily broken if used to make jewellery. Therefore, jewellers prefer 22 carat and 18 carat gold to make gold jewellery in India.
Gold Rate Today Delhi
Delhi, India’s capital is known for its massive population and is a large metropolitan area in the northern part of the country. Apart from being densely populated Delhi has a large demand for gold. People wear and gift gold jewellery during various festivals and family occasions. However, it is always a good idea to check the Gold Rate Today Delhi before purchasing. Checking the price of gold before purchasing is a good idea to avoid buying gold at higher prices.
Gold Rate Today Gurgaon
Gurgaon, a city that lies in the Haryana state of India. The city is famous as the financial and technology hub of the country. Although Gurgaon is located in the state of Haryana, it is located on the southwest of India’s capital Delhi. Even after sharing borders with Delhi the rate of gold is different in both the cities. Moreover, Gurgaon has a huge demand for gold and there are a number of sellers available in the region. Therefore, it is important to check the gold rate today Gurgaon before making any purchase of gold.
Read More: Credit Card or Debit Card for Students?