FAQs on Gold Rates in India

Q1: What factors affect gold prices in India?

A1: Gold prices are influenced by global demand, inflation, currency rates, and government policies.

Q2: Is GST applicable on gold purchases?

A2: Yes, a 3% GST is applicable on gold purchases in India.

Q3: Which gold is best for investment?

A3: 24K gold is the purest and best for investment.

Q4: How often do gold rates change?

A4: Gold rates can change multiple times a day based on market conditions.

Q5: Can gold rates vary by city?

A5: Yes, gold rates may vary due to local taxes and transportation costs.

Q6: How is gold purity measured?

A6: Gold purity is measured in karats (K), with 24K being the purest.

Q7: Is gold a good hedge against inflation?

A7: Yes, gold is often used as a hedge against inflation.

Q8: Can I buy gold online?

A8: Yes, many platforms and jewelers offer online gold purchasing options.

Q9: What is the difference between 22K and 24K gold?

A9: 24K is pure gold, while 22K contains 91.67% gold and 8.33% alloy.

Q10: What is the current gold demand in India?

A10: India has high demand for gold, especially during festivals and weddings.