We suggest that you buy for the very long term or else you would not be able to make any money from the price rise in the precious metal. You can adopt a strategy of buying on declines. Unless, there is a need you should avoid buying at high prices. You need to examine the prices before buying. In short, there are a host of factors that influence gold rates in Chennai today. Gold is also impacted by a number of local factors like the local government's tariffs and duties. In fact, the gold industry was lucky that the making charges on gold itself was reduced, though it is difficult to compare gold prices in chennai with the pre-GST levels. the imposition of this has made gold rates in Chennai more costlier than ever before. For example, the GST has now added a making charge of 5 per cent on gold, while gold itself attracts a 3 per cent Goods and Services Tax. The government recently added to the Goods and Services Tax, which has altered the gold prices in Chennai. Say for example, when the government imposes duties and tariffs it leads to a fall in prices and this is very simple. Gold prices go higher when the government policies are not favourable for the precious metal. This affects the daily gold rates in Chennai.Īs is widely known anything that has lower demand will see a fall in prices and anything that has good demand will see a rise in prices. When interest rates in developed countries rise, investors sell gold and buying fixed yielding instruments. In fact, not only 22 karats, but all other varieties of gold. This is because let us see what are the factors that influence the gold prices of 916 gold in Chennai. Have you ever asked yourself how gold rates in GRT Chennai or gold rates in Lalitha Jewellery are determined? It is more complex then you think to determine the gold rates in Chennai. How is Todays Gold Rate in Chennai 916 Determined?
It is always advisable that one waits and watched the gold prices in Chennai before buying. The general theme is that 22 karats gold would come in jewellery and for 24 karats you hav o necessarily go with gold coins and bars. As for us we would recommend that you buy either. So, the choice of which level of purity of gold to buy is purely your own prerogative. If you are looking to buy and sell both are very much marketable. So individuals often ask the question: Should we go with 22 karats or 24 karats gold? The answer is very simple: 22 karats gold would fetch you lesser price, while 24 karats gold would fetch you a higher price. In any case, you can make a choice yourself, given the fact on your own financial condition and whether you have money for the same.
Of course, the latter is for the rich and affluent class as the costs involved is very high. Now, the resale value is always better in the case of 24 karats, but individuals largely restrict themselves to coins and bars. You have to buy them as 22 karats purity for which you must check the gold rates in Chennai. For example, if you are going to buy gold ornaments, there is no way you are going to get them with 24 karats purity. It depends on your own needs and requirements. This is something that is always so very difficult to answer. Read: A beginners guide to buying gold here So, should you buy 22 karats or 24 karats? Let us quickly take this question in a quick point by point answer.ġ) 24 Carats is fully pure, while 22 carats is not.Ģ) The former has purity of 99.99 per cent, while the later is 91.6 per cent pure.ģ) 24 karats gold is more expensive than 22 karats.Ĥ) 22 karats is used to make jewellery, while 24 karats is not, because it can break rather easily. This is a question that many investors and users of the precious metal would like to know. Gold Price Movement in Chennai, June 2021Ģ2 Carat Gold Rate In Chennai Today Vs 24 Carats Gold Price Movement in Chennai, July 2021 Gold Price Movement in Chennai, August 2021 Gold Price Movement in Chennai, September 2021 Gold Price Movement in Chennai, October 2021 Gold Price Movement in Chennai, November 2021 Gold Price Movement in Chennai, December 2021