Bringing Gold Into Chennai From Abroad
Those travelling from abroad, can bring gold into Chennai, but, you need to watch for gold rates in Chennai and compare them with the rates abroad.
You can bring duty free gold worth Rs 50,000, if you are a male traveler, or upto Rs 1 lakh, if you are a female traveler. Gold prices in Chennai, will not defer too much from that prevailing abroad, though these days the quality of gold jewelry would not defer too much when compared to that imported from abroad. Earlier, investors or consumers were always worried on the impurities, but, the precious metal is today available in India, in its purest form.
Where To Check Gold Rates In Chennai
There are a number of online portals where you can check for gold rates. We at www.goodreturns.in update our gold rates frequently everyday.
You can come back here to check gold rates across Chennai. We wish to emphasize that you must check the prices before buying. This is because there could be minor changes in gold prices amongst jewelery shops in Chennai.
One of the most important things that you should be careful about is the making charges of gold jewelry. Sometimes, the difference can be substantial, though gold rates in Chennai among different shops is unlikely to be very different from each other. What differs largely is the making charges.
We hope that discerning investors and buyers will check making charges before investing or buying gold jewelry.
What Determines The Value Of A Gold Necklace
The value of a gold necklace depends on a variety of factors. A new necklace will sell for a price that reflects its design, brand, structure, materials, among other characteristics.
14-karat gold necklace with citrines
If you are going to sell your 14K necklace for scrap gold, however, its value will be determined based on one major factor the gold content of the piece.
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Gold Reserves With Top 10 Countries
The Central bank of every country holds the gold reserve along with the currencies for future use. These reserves lead to a rise in gold prices. As per the latest data, the United States has the highest Gold Reserve of 8133 Tonnes. After the U.S, Germany holds the second highest gold reserve of about 3362 Tonnes. The table below mentions the gold reserves of different countries.
What are the various gold options available to buyers in India?
Below given are the various forms of gold options which are available to buyers in India are
Dos and Donts while buying gold
Following are the dos and donts that you must consider while buying gold
You can convert the gold rates in different units of weight and mass. While every metal has a different density and weight, you can know the approximate value of each metal by conversion of gold rates in different weights.
|To convert from|
What Is A Ton Of Gold Worth
A rough calculation can be executed using a simple live gold spot feed and a simple calculator, smartphone, or search engine.
The equation for ‘How Much is a Gold Ton Worth’ is as follows:
32,150.7 oz X live Gold Spot price = A whole lot of continually debasing fiat currency.
At the moment of writing this blog post:
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Gold Rate Trend In Srinagar For May 201:
- Gold prices in Srinagar for May started at Rs.3,011 per gram. Prices fell significantly this month as demand was low.
- The low demand was brought about by a surging US dollar rate and a subsequent drop in demand from local jewellers.
- On the 8th, gold price in Srinagar went down to Rs.2,942 per gram and declined further to hit Rs.2,918 per gram by the 15th.
- However, bullion recovered after US dollar value fell. On the 17th, gold was trading at Rs.2,939 per gram.
- After some more fluctuations, gold rate in Srinagar remained steady towards the end of the month to close at Rs.2,992 per gram.
- Overall, gold prices in Srinagar had declined by 0.49% in the month of May.
Investing Options For Gold In Chennai
If you thought, that investing in gold coins, gold biscuits and gold jewelry was the only way to invest in gold in Chennai, you are making a big mistake. There are various options, including the recently launched sovereign gold bonds. However, we want to suggest that those who want to invest in gold in Chennai, must also look at gold etfs. These are the best form of investing in gold, because of a number of reasons. The first is that they cannot be stolen. It is pertinent to note that gold ETFs are traded electronically, so if you wish to buy them you can buy them electronically. Secondly, you need not worry about storage, and charges associated with them.
Do not forget to also invest in the sovereign gold bonds, as they offer you interest as well. Before investing in gold, also remember that there is a capital gains tax that is payable, when you sell the gold.
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Which Type Of Gold Is Best For You
Theres no best type of gold for everyone. When youre choosing the gold for an engagement ring or other jewelry, its important to keep factors such as you or your partners skin sensitivity, career, activity level and aesthetic taste in mind.
Its also important to shop with your budget in mind. While an 18K ring might look fantastic, its almost always going to cost significantly more than a similar option in 14K or 10K gold.
Most of the time, 14 karat gold provides the best combination of a rich color, good durability and reasonable affordability. This type of gold is by far the most popular option for engagement rings and other fine jewelry, making up about 90% of gold jewelry sales in the United States.
If you prefer something more luxurious and dont mind trading some durability for a richer gold color, 18 karat gold can be a good choice. Just be aware that this type of gold is quite soft and could scratch easily while you or your partner work or exercise.
Most of the time, 10 karat gold isnt used for engagement rings. Because the difference in price between 14K and 10K gold is so negligible, the vast majority of reputable jewelers will offer 14K as their most affordable option for engagement rings.
If you see a 10 karat gold engagement ring, its often a good indicator that the diamond or another gemstone probably isnt up to the standards youd want.
Cash For Gold Calculator
This is the original Cash for Gold Calculator.
This software was developed by the National Gold Market Corporation to educate the public, providing the most accurate market price for Gold, Silver and Platinum at 100% of the current New York Spot Price and the Asia Stock Market. The Live Price chart gives you a breakdown per gram, DWT and Troy Ounce. What is the right amount to receive for your gold? If you’re selling Gold Jewelry, a reasonable settlement would be 70% to 80% of the market value. If you’re selling Gold Coins a reasonable settlement would be 90% of the market value. If you are near The Los Angeles area, National Gold Market is located in Pasadena, California. They pay 75% to 80% for Gold Jewelry and 90% for Gold Coins. You can walk in and get your items tested for free to determine the Karat metal purity and the gram weight. The company will give you a quote based off the current Live Prices on the LA Cash for Gold website. Payments are made in CASH.VISIT THE LOCAL SITE BY CLICKING HERE: You can also send your gold using our Prepaid, insured FEDEX Package by following the simple instructions on National Gold Market.com website.VISIT THE NATIONAL SITE BY CLICKING HERE: National Gold Market
What to avoid when selling Gold?
How to sell your Gold Properly:
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Find Out Scrap Gold Prices With Canada Golds Calculator
Use our easy online scrap gold calculator to find out how much your gold is worth today. Its fast, easy, reliable, and backed by our 120% best price guarantee.
Simply select your purity level and input the weight of your item to calculate your scrap gold prices at the current live market rates.
If you are unsure about the weight or purity of your item, come to one of our locations and let our highly experienced staff help you find out. We offer free purity tests and complete, 100% transparency, so you always know exactly what you have, and what its worth.
Once you know your purity and weight, simply put your information into the scrap gold calculator above and get an instant quote for how much your gold is worth based on live, up to the minute market rates. Find out your scrap gold prices in seconds!
Canada Gold is one of the nations most trusted and best reviewed gold buyers, and we are here to help you calculate and receive the best possible price for your gold.
How To Find Out The Value Of The Gold In Your Jewelry
To figure out the value of a piece of gold jewelry, you need to determine how much the pure gold in it is worth, and this value depends on the precious metals price on the market.
The changes every day, and you can look it up on a variety of websites .
Keep in mind that the gold price quoted on commodity exchanges does not reflect accurately the money you could get for your jewelry if you decide to sell it.
To get a better estimate of the value of your gold, you can reduce its current market price by about 20%-30%.
The result will be the approximate price you can expect gold dealers to pay most of them will usually offer you about 80% of the market price of gold per gram.
Looking to sell your engagement ring or other diamond jewelry? Check out Worthy, which is an online jewelry auction platform you can mail in your jewelry and let Worthy organize the sale for you, sending you the money after the piece is sold.
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About Gold Rate In Kolkata
It is unarguably one of the most popular investment commodities here, with a majority of middle-class families participating. Consequently, this city is one of the largest domestic consumers of yellow metal.
Gold prices share a close relationship with the festivity schedule here, with the demand shooting up during the same. Locals dont seem to shy away from investing in gold during the wedding seasons and festivals such as Durga Puja.
This investment is majorly in the form of jewels and ornaments, due to the cultural significance. However, the popularity of investing in bullions, bars, and coins is also slowly catching up.
Similarly, gold investments in Exchange Trade Funds , gold sovereign bonds, gold futures, and gold mutual funds have also risen over the years. Storage security, ease of investment, and lack of making charges seem to be the major motivation for investing in electronic and digital gold.
Gold prices in Kolkata depend heavily on market fluctuations, availability, demand-supply equations, state taxes, octroi, gold purity, cost per gram, and inflation.
However, the price determinants arent restricted to the domestic boundaries. They also depend on the international gold prices, international gold trade policies, and rupee-dollar trends.
Calculation : Gold Buyers
This calculation determines how the price compares relative to the value of gold metal from calculation 1.
This calculation is useful for people buying gold. In general, how far the price deviates from the gold metal value determines if it is cheap or expensive.
|Step 1: Calculate gold metal value|
|Gold metal value = Price ÷ Value of gold metal × 100= 0 ÷ 0 × 100= 0 %|
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Places To Buy Gold In Chennai
There are many places in Chennai where a customer can buy gold. Customers can purchase gold from the trusted jewelry houses in Chennai.
Some of the favorite jewelry brands are present in Chennai.
A few of them are Vummidi Bangaru Srihari Sons, Mehta Jewellery, G R Thanga Maligai, Prince Jewellery, Nathella Sampathu Chetty Jewellery, Saravana Stores Thanga Nagai Maligai, Bapalal & Co. Jewelry, Lalitha Jewellery, NAC Jewellers, and so on.
How Many Karats Is Pure Gold
Pure gold is 24 karat, meaning that 24 out of 24 parts of the metal are gold. Although the terms sound familiar, the karat system used to measure the purity of gold is different from the carat unit of mass thats used to weigh diamonds.
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There Are Several Things To Remember While Buying Gold In Chennai
Pure or Impure: The purity of gold defined in karats, with 24 karat gold being 99.9 percent pure and 22 karat gold is 92 percent pure. 24 karat gold is not suited to make jewelry, which is why jewelers use either 14, 18 or 22 karat gold. Purchasing gold jewelry without checking its purity is not a good deal, and it always pays to check purity before parting with your hard-earned money. Hallmark is an indication of the purity of gold, and it is advisable to purchase hallmarked jewelry.
Making charges: A making charge is linked to every piece of gold jewelry, which is essentially the labor charge involved in creating it. Making costs are a reflection of current gold rates and one could be fleeced into paying higher making charges than necessary. Insisting on fixed making charges could make gold purchases cheaper and would be the smarter way to go about it.
Check the weight: Most gold jewelry in India is sold by weight, with more massive pieces costing more. Precious stones like diamond and emerald are often added to gold jewelry, making them heavier in the process. Jewellers weigh a bit in its entirety, which means that one might end up paying for gold which is not there and it is imperative to keep this in mind while purchasing studded jewelry
Which Gold Is Most Suitable For Engagement Rings
Shopping for an engagement ring? Theres more to picking the perfect ring than just choosing the right diamond and setting. The type of gold used in an engagement ring can have a huge impact on its appearance, feel and durability. We recently helped two readers find rose gold engagement rings. One reader went with this bold 14K setting while the other went with this, subtler, 18K setting.
Most importantly, making the right choice can help you get the best bang for your buck overall. Take this ring for example. Depending on which metal you choose, the price difference is $400. That means you can get this diamond or if you end up with the 14K version of this ring, you can get this diamond which is a whopping 25% larger while spending the same amount of money.
Contrary to popular belief, theres no single type of gold used for all gold jewelry. The gold used for rings, bracelets, watches and other fine jewelry is rarely 100% pure gold instead, it comes in a variety of different purity levels.
The most common gold purity levels are 10K , 14K, 18K and 24K. Each level of gold purity offers its own range of advantages and disadvantages, from hardness and durability to the risk of certain levels of gold purity contributing to skin irritation.
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Kilo Gold Bars The New Good Delivery Standard
A seminal interview conducted in late 2015 interviewing the head of one of the world’s largest Swiss gold refineries , confirmed the fact that China through its Shanghai Gold Exchange, has been forcing a new good delivery gold standard size on the world .
He also confirms how China’s demand for 1-kilo gold bars has his organization working around the clock to meet demand. The physical gold bullion is flowing from west to east .
Gold Rate Trend Of Srinagar In September 2016
- Gold recovered this month on the back of positive trends in the global market.
- The lowest rate for this month was Rs.3,184 per gram on 1st and 2nd September after which demand picked up.
- The interest rate hike by the U.S. Federal Reserve was put off till December since the U.S. presidential elections were drawing near.
- The market turned bullish and gold gained its safe-haven appeal.
- Gold rates climbed to Rs.3,217 per gram by the end of the month leading to an increase of 1.04%.
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Gold Rate Trend Of Srinagar In May 2016
- On the first day of the month, gold traded at Rs. 3,119 per gram.
- However, as the month progressed, there was a decline seen in the rate of gold due to Greeces default crisis and expectation of interest rate hike by U.S. Fed..
- The highest rate of gold in the entire month was on the 7th of May, at Rs. 3,120.