Gold Rate Today in Vizag

Gold remains a popular investment option in Vizag, with its daily prices shaped by factors such as local demand, applicable taxes, and global market trends. Listed below are the latest gold rates in Vizag for today, including prices for both 22K (916 purity) and 24K (999 purity) gold.

Gold Rate Today in Vizag

Gold Rate in Vizag Today (22K & 24K)

22 Carat Gold Rate in Vizag

Vizag is one of the prominent jewellery hubs in Andhra Pradesh, where 22K (916 purity) gold is extensively used for ornamental jewellery. With 91.6% pure gold mixed with other metals for added strength, it is ideal for crafting traditional designs such as bangles, chains, necklaces, and bridal jewellery.

22K rate today: Rs. 11,945 per gram.

24 Carat Gold Rate in Vizag

Highly valued for its superior purity, 24K (999 purity) gold contains 99.9% pure gold. Since it is softer in nature, it is not commonly used for daily-wear jewellery. In Vizag, it is mainly preferred for investment in the form of gold bars, coins, and digital gold

24K rate today: Rs. 13,031 per gram.

Gold Price Trend in Vizag

Gold prices in Vizag keep changing based on international market trends, fluctuations in currency values, and variations in local demand. In recent times, both 22K and 24K gold rates have witnessed ups and downs, mainly due to increased purchases during festivals and the wedding season.

How Gold Prices Are Determined in Vizag

Gold rates in Vizag, like the rest of India, change daily due to multiple factors, including:

• International spot market prices:
  Gold is traded globally, so global price movements directly affect local rates in Vizag.

• Rupee-Dollar exchange rate:
  Since gold is priced in USD internationally, a stronger or weaker rupee impacts Vizag’s gold prices.

• Import duty and GST:
  Government taxes on gold imports and sales influence the final price for consumers in Vizag.

• Local supply and consumer demand:
  Seasonal demand during festivals, weddings, and other special occasions in Vizag can lead to price fluctuations.

• Market speculation and investor sentiment:
  Investment trends, stock market movements, and speculative buying and selling can influence Vizag’s gold prices, pushing them up or down.

• Central Bank Policies:
  Decisions by the Reserve Bank of India or other central banks on interest rates and foreign reserves can indirectly affect Vizag’s gold prices.

How to Calculate the Final Gold Price

Formula:
Final Price = Gold Rate × Weight + Making Charges + GST

Example (based on your numbers):
For 10 grams of 22K gold at Rs. 11,716 per gram:

Gold Value = Rs.1,17,160
Making Charges (12%) = Rs.14,059
Subtotal = Rs.1,31,219
GST (3%) = Rs.3,936

Best Time to Buy Gold in Vizag

• Prices in Vizag tend to remain more stable from March to August.

• Buying before major festivals in Vizag may help avoid festive premiums.

• Watch for dips in global gold prices, as they can influence Vizag’s rates.

• Track local daily gold rates in Vizag for at least a week before making a purchase.

Gold Buying Options

• Physical Jewellery: Traditional gold buying option mainly used for weddings, gifting, and personal use.

• Gold Coins and Bars (24K): High-purity gold with lower making charges and better resale value.

• Digital Gold: Easily bought online in small amounts with zero storage or security concerns.

• Sovereign Gold Bonds (SGBs): Government-backed gold investment offering 2.5% annual interest plus tax benefits.

• Gold ETFs: Exchange-traded instruments that track gold prices and are backed by physical gold.

• Gold Mutual Funds: Mutual funds that invest in gold ETFs, offering convenience and diversification.

Also Read: Best Gold Saving Scheme by Jewellers in India

Tips for Smart Gold Buying

• Compare making charges across jewellers.

• Always choose BIS hallmarked jewellery with HUID.

• Avoid impulse purchases.

• Prefer simpler designs if buying for investment.

• Keep all invoices for resale and loan purposes.

Selling or Exchanging Gold

• Jewellers buy back based on the day’s gold rate.

• Charges and wastage are not refunded.

• Purity testing may involve melting or electronic checks.

• Compare buyback quotes from multiple jewellers.

Tax Rules on Gold Purchases

• GST of 3% applies to the gold value.

• Making charges may attract additional GST.

• Purchases above Rs. 2 lakh require a PAN.

• Selling gold may be subject to capital gains tax.

• Digital gold, SGBs, and ETFs follow different tax rules.

FAQs:

What is today’s gold rate in Vizag for 22K gold? 

The 22K gold rate today in Vizag is Rs.5810 per gram. 

What is the gold rate today in Vizag for 24K gold? 

The 24K gold price today in Vizag is Rs.6340 per gram. 

Why is gold slightly costlier in Vizag compared to other cities? 

Gold prices in Vizag may be higher due to local taxes, logistics costs, and changes in regional demand. 

Which type of gold is better for jewellery in Vizag? 

22K gold is widely preferred for jewellery in Vizag because of its strength and suitability for everyday wear. 

Can I buy gold coins in Vizag? 

Yes, 24K gold coins are available at major jewellery stores and selected banks in Vizag. 

Does the gold rate stay the same throughout the day in Vizag? 

No, gold prices may vary during the day due to market movements and bullion association updates.

Is 24K gold suitable for making jewellery? 

No, 24K gold is very soft and is mainly used for investment in the form of coins and bars