Gold has remained one of the most valued metals in India for centuries and since years is considered to be one out of the few prime investment options. India, being the largest consumer of gold in the world (almost 20-25% of the world’s total consumption), also has a huge market for gold and gold jewellery. People buy gold in the form of trendy jewellery, gold coins or gold bars. It is also consumed in the form of investments and traders interested in commodities trading, often invest in gold bullion.
Gold rate in India changes daily, with several factors impacting it in a particular place on a given day. This change in gold rates that varies from city to city depends on demand, supply, and local market conditions. Some of the most critical aspects that determine the price of gold in a country are demand & supply, global market conditions and currency fluctuations, with the rates changing every day. All the factors that affect gold rates in India are briefly explained below.
However, before learning about gold rates in India, one should be aware of the fact that the regular gold price is not different than the hallmarked gold price. You will not be charged extra for buying hallmarked gold. The only and most important difference is that you are ensured of purity when you buy gold which is hallmarked by BIS. Hallmarked gold rates in India do not differ in their pricing. The difference lies in the quality of the precious metal. So one should always buy high-quality gold. And to make sure of its quality, it is better to stick to the BIS hallmarked gold products.