Gold Rate in Rajasthan - 1st May 2024

Difference between 18 Karat, 22 Karat and 24 Karat gold

Gold purity varies from 18K to 24K, with 24K being the purest. Higher-purity gold is softer and more expensive. Gold price in Rajasthan fluctuates depending on the gold's purity, with 22-karat gold price in Rajasthan being less than 24 karats, but at the same time higher than 18-karat gold.

Therefore, today gold rate in Rajasthan is important to check when you want to buy or sell gold.

How to Calculate Old Gold Jewellery Prices?

The price of old gold jewellery in Rajasthan can be calculated by following a few simple steps.

• The first step is to determine the purity of the gold. In India, gold is usually measured in karats, with 24 karats being the purest form of gold. Most gold jewellery in Rajasthan is either 22 karats or 18 karats.
• Once you have determined the karat value of the gold, you can calculate the rate based on the current market rate of gold. You can find the current gold rate in Rajasthan by checking with local jewellers or searching online.
• Next, you need to weigh the gold jewellery using a scale. It's important to weigh the gold in grams or tolas, which are commonly used units of measurement in India.
• Finally, you can calculate the price of the gold jewellery by multiplying the weight in grams or tolas by the current market rate for the particular karat of gold.

For instance, if you have a gold sample weight of 10 grams with a purity of 22 Karats & the gold price in Rajasthan today is ₹ 5,000 per gram.

Value of gold today = 10 x 22 x 5,000 / 24 = ₹ 45,833/- only

Points to Remember When Buying Gold in Rajasthan

With the fluctuating gold rate in Rajasthan, here are some key things to remember when buying gold in Rajasthan:

• Know the current gold rate in Rajasthan. It helps you avoid overpaying and ensure you get a fair deal.
• Gold purity can vary from 14 karats to 24 karats, with 24-karat gold being the purest. Check the purity of the gold before purchasing to ensure you get what you pay for.
• Look for a reputable seller and certified gold to avoid scams and fake gold.

Considering these factors, you can make an informed decision when buying gold in Rajasthan.

Importance of Checking Gold Rates in Rajasthan before Buying

Checking the gold price in Rajasthan before buying is crucial to avoid overpaying and getting a fair deal. Gold prices constantly fluctuate; even small rate changes can significantly impact the investment. Knowing the current gold rate can help you make an informed decision and get the best value for money.

How is Gold’s purity determined?

Gold price in Rajasthan fluctuates depending on the gold's purity. For example, a gold item with a fineness of 999 means that it is 99.9% pure gold, with the remaining 0.1% being other metals. Here are the different methods used to determine the purity of gold:

• Stamp test: Always check for the BIS Hallmark stamp on gold before purchasing it. The stamp contains information about the purity of the gold item's karat or fineness. For instance, a BIS Hallmark on a 1 gm bar of 24K 999 pure gold certifies that it is pure and contains no other metals.
• Ceramic test: Another way to instantly check if the gold is pure is to scratch it against an unglazed ceramic plate or a porcelain tile. If the jewellery leaves a golden mark, it is pure, and any other colour is fake.
• Magnet test: The magnet test is a convenient way to check the purity of the gold, as you can carry them around with you. The process includes holding a magnet against the jewellery and waiting for it to attract. In the case of pure gold, there will be no attraction, whereas, in the case of other metals, the jewellery will stick to the magnet.

Factors that Affect the Gold Prices in Rajasthan

Here are some factors that can impact the gold price in Rajasthan.

1. International gold prices: Gold prices in Rajasthan are strongly linked to the international prices of gold. As gold is traded globally, any change in the international prices of gold can directly impact the prices in Rajasthan.
2. Rupee-Dollar exchange rate: As gold is priced in US dollars, any movement in the exchange rate between the Indian Rupee and the US dollar can also affect gold prices in Rajasthan. If the Rupee depreciates against the dollar, gold prices in Rajasthan will increase and vice versa.
3. Demand and supply: Like any other commodity, demand and supply factors also affect the prices of gold in Rajasthan. If the demand for gold increases while the supply remains constant or decreases, gold prices in Rajasthan will rise. Conversely, if the supply increases while the demand remains constant or decreases, gold prices in Rajasthan will fall.
4. Inflation: Inflation is another important factor affecting gold prices in Rajasthan. Investors tend to buy more gold as a hedge against inflation, which can push up the prices of gold in Rajasthan.
5. Geopolitical tensions: Geopolitical tensions can also affect gold prices in Rajasthan. When there is instability or uncertainty in the global economy or international relations, investors tend to buy more gold as a safe-haven asset, which can push up the prices of gold in Rajasthan.
6. Seasonal demand: Seasonal demand also plays a role in determining gold prices in Rajasthan. For example, the demand for gold tends to be higher during the wedding season in India, which can push up the prices of gold in Rajasthan during that period.

Calculating Gold Price in Rajasthan

There are several ways to determine the gold price in Rajasthan. However, the following are some simple approaches.

1. Online Gold Price Websites: Various financial news and gold trading websites provide up-to-date information on gold prices.
2. Gold Dealer Websites: Many online and offline gold dealers provide information on the current gold prices.
3. Newspapers: You can also check the daily newspapers, particularly the business or financial sections, for the current gold prices.
4. Mobile Apps: Various apps provide real-time information on gold prices in Rajasthan.
5. Local Jewellery Shops: You can also check with local jewellery shops in Rajasthan for the current gold prices.

GST Impact on Gold Rate in Rajasthan

The impact of GST on the gold rate in Rajasthan is given below.

1. Reduction in cash transactions: GST has also led to a reduction in cash transactions in the gold market, as dealers and customers must provide proper invoices and documentation for every transaction. This has reduced the illegal and unregulated gold market, which can stabilise gold prices in Rajasthan.
2. Impact on jewellers: GST has significantly impacted jewellers, who have had to register for GST and file returns regularly. The compliance costs for jewellers have increased, which has led to a rise in the cost of making jewellery and, ultimately, in the price of gold.
3. Impact on consumers: GST has also affected consumers who purchase gold in Rajasthan. The tax increase has led to a rise in the final price of gold, which may have reduced demand for gold among some consumers.