A gem of South India, Visakhapatnam commonly known as Vizag, is one of the oldest port cities in the country. Its picturesque beaches and serene landscape as well as rich cultural past make the city a tourist attraction all year round. Being a port city, trade is critical to Visakhapatnam fuelling its economic growth, and gold is interwoven with the culture and tradition here.
People in Visakhapatnam have a desire for beauty and also financial protection. And this is why gold prices see a high demand in this city. If you are visiting this coastal vacation sometime and are planning to buy or sell gold, checking the gold prices in Visakhapatnam shall help you get an optimal loan amount.
Gold Price in Visakhapatnam for 22K and 24K Gold Purities
22 Carat Gold Price Per Gram in Visakhapatnam - (Today & Yesterday)
To invest in the 22-carat gold rate in Visakhapatnam, check the gold rate in the market. Follow the details provided below for a better understanding:
| Gram | Today | Yesterday | Price Change |
|---|---|---|---|
| Gold rate for 1 gram | ₹ 7,125 | ₹ 7,047 | ₹ 78 |
| Gold rate for 10 gram | ₹ 71,253 | ₹ 70,470 | ₹ 783 |
| Gold rate for 12 gram | ₹ 85,504 | ₹ 84,564 | ₹ 940 |
Today 24 Carat Gold Price Per Gram in Visakhapatnam - (Today & Yesterday)
Before you put your hard-earned money, it is a wise move to compare the 24K gold rate per gram in Gujarat. The following table gives a snapshot of the price fluctuations between yesterday and today.
| Gram | Today | Yesterday | Price change |
|---|---|---|---|
| Gold rate for 1 gram | ₹ 7,779 | ₹ 7,693 | ₹ 86 |
| Gold rate for 10 gram | ₹ 77,787 | ₹ 76,932 | ₹ 855 |
| Gold rate for 12 gram | ₹ 93,344 | ₹ 92,318 | ₹ 1,026 |
Disclaimer: IIFL Finance Limited (including its associates & affiliates) ("IIFL") makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are subject to change and are provided on an as-is basis with no guarantees of completeness, accuracy, usefulness or timeliness and is without any warranties of any kind, express or implied. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. IIFL accepts no liability or responsibility for any errors or omissions in the content stated herein and under no circumstances shall IIFL be liable for any damage, loss, injury or disappointment suffered by any reader.
Historical Gold Rate in Visakhapatnam For The Last 10 Days
| Day | 22K Pure Gold | 24K Pure Gold |
|---|---|---|
| 22 Nov, 2024 | ₹ 7,125 | ₹ 7,778 |
| 21 Nov, 2024 | ₹ 7,047 | ₹ 7,693 |
| 19 Nov, 2024 | ₹ 6,950 | ₹ 7,587 |
| 18 Nov, 2024 | ₹ 6,852 | ₹ 7,480 |
| 14 Nov, 2024 | ₹ 6,754 | ₹ 7,373 |
| 13 Nov, 2024 | ₹ 6,893 | ₹ 7,526 |
| 12 Nov, 2024 | ₹ 6,860 | ₹ 7,490 |
| 11 Nov, 2024 | ₹ 7,038 | ₹ 7,684 |
| 08 Nov, 2024 | ₹ 7,088 | ₹ 7,738 |
| 07 Nov, 2024 | ₹ 7,033 | ₹ 7,678 |
Monthly and Weekly Trends of Gold Rate in Visakhapatnam
The weekly and monthly gold slopes in Visakhapatnam are based on its principal gold rates as the city is known for its economic growth and is a seat of frequent gold buying. Today’s gold rate in Visakhapatnam is identical to the gold rate in the state and the amount of gold bought and sold. With a stable and encouraging demand, the weekly and monthly trends in Visakhapatnam are growing.
Gold Price Calculator in Visakhapatnam
Gold value: ₹ 7,125.30
What is the current trend in the Gold Price in Visakhapatnam?
The gold demand in Visakhapatnam is always high throughout the year with regular fluctuations. When buying or selling gold in this city you need to be aware of the current effects in the market. Today gold prices can be evaluated in Visakhapatnam. You can even compare the current gold price with the past data of the same city
Importance of Checking Gold Rates in Visakhapatnam Before Buying
To buy and sell gold in Visakhapatnam, always check the gold rates in the city. It would be a wise decision so you spend your hard-earned money only after enough market research on gold prices in the city. Your awareness will get you the best value of gold because the rates keep fluctuating and this impacts the transactional value.
Factors that Affect Gold Prices in Visakhapatnam
The price of gold in Visakhapatnam is controlled by some external factors, so it's best to check the gold prices. These factors include:
- Demand and Supply: Gold prices fluctuate with the demand and supply mechanics in the country and as a result have swaying rates in the prices of gold in Visakhapatnam.
- Price of US Dollar: 22 Karats gold rate is much impacted in Visakhapatnam by the US dollar. This currency impacts gold prices most in comparison to any other currency.
- Margin: Margins in gold rates in Visakhapatnam are high because of a gold tax levied by local jewellers here.
- Interest Rates: Gold buying, selling and price fluctuations in the gold market collectively affect the interest rates on gold in Visakhapatnam.
How are Visakhapatnam’s Gold Prices Determined?
The gold-buying propensity of the residents of Visakhapatnam fuels the constant demand for gold in the city. With their penchant for collecting the yellow metal, the people of Visakhapatnam look for 916 hallmark gold as it's trusted for its purity. The price base of 916 hallmarked gold in the city is the price in which people acquire and also ensures that the gold is certified by BIS ( Bureau of Indian Standards). If you need to know about 916 hallmarked gold, go through the following information:
- International Gold Price: Visakhapatnam gold prices are recognized and controlled by local jewellers after charging duty on the international gold price at which the jewellers import the gold to this city.
- Demand and supply: The supply-demand curve impacts gold prices and also indicates its pricing. The bulk of gold bought or sold in Visakhapatnam affects the pricing of gold overall.
- Purity: The 916 hallmarked gold has a difference in price compared with other variants like 18 karats and 24 karats.
Evaluate Gold Price in Visakhapatnam with Purity and Karats Method
When buying gold, it is crucial to check its purity. This is the norm with gold buyers everywhere. So there is every reason to evaluate accurately and determine its genuine value based on its market prices. For further information on the method to evaluate gold prices in Visakhapatnam, see the following:
- Purity Method (Percentage): Gold Value = (Gold’s purity x weight x gold rate) / 24
- Kara’ s Method: Gold value = (Gold’s purity x weight x gold rate) / 100
Other than gold buying, if you wish to apply for a gold loan in Visakhapatnam, know more about the usage of these two methods. They shall help examine gold prices in Visakhapatnam.
Reasons Why Gold Rates Differ Between Visakhapatnam and Other Cities
Cities are unique, each one has a distinct history, culture, geography, and community, offering diverse experiences and characteristics that set it apart from any other. Visakhapatnam has its own flavour. Gold too is different from one city to the other as buying and selling dynamics differ from city to city. Other factors that are also important are given below:
- Import Price: International gold rate fluctuations can affect the import of gold in Visakhapatnam. The tax charged on base prices by local jewellers’ impact on higher gold prices.
- Volume:. With a rise in demand, gold prices may dip and on the other hand, a slack in demand will see the gold rise.
Techniques to check the purity of gold
Checking the purity of gold involves some techniques that are convenient to do but if you want utmost accuracy, then it is better to consult a professional jeweller or gold assayer
Methods to check the purity of gold are quite convenient but for more exactness, a professional jeweller or a gold assayer can make your task simpler.
- Use a magnifying glass to check for any hallmarks or stamps to establish the purity of gold
- For tracking for damages, a visual inspection could help you overall. A discoloration or tarnish can indicate the fault.
- Magnetic tests are simple and hassle-free. You can check for the purity of gold by this test by knowing that real gold is never magnetic.
- Call a professional gold dealer to do the nitric test to confirm the purity of gold. For you to do it alone is a bit hazardous as it involves chemicals.