Gold Rate Today in Chakan

Gold caratage plays a crucial role in determining its purity and usability. 24 carat gold is considered the purest form, comprising 99.9% gold. It has a bright yellow hue and is extremely soft, making it unsuitable for jewellery that requires durability. Hence, 24 carat gold is primarily used for making coins and bars, which are ideal for investment rather than ornamentation.

On the other hand, 22 carat gold contains 91.6% pure gold and 8.4% other metals such as copper or silver. This alloying enhances its strength and durability, making it suitable for daily-wear jewellery. Due to its alloy content, 22 carat gold appears slightly less bright than pure gold but offers improved resistance to wear and tear. In Chakan, most jewellery buyers prefer 22 carat gold for crafting necklaces, bangles, and rings. Bajaj Finance offers gold loans on both 22 carat and 24 carat gold, ensuring fair valuation and flexible repayment options.

Understanding these differences helps buyers make informed choices based on their needs, whether for investment or jewellery.

22 carats vs 24 carats vs 18 carats gold purity in Chakan

Gold purity is measured in karats, with 24 karat being the purest form containing 99.9% gold. In Chakan, 24 karat gold is mainly used for investment in coins and bars, as its softness makes it impractical for jewellery. 22 karat gold, with 91.6% purity, is widely preferred for ornaments as it balances purity with durability.

18 karat gold, containing 75% pure gold, is often chosen for designer and lightweight jewellery as it offers greater strength and resistance to damage. While it is less pure than 22 and 24 karat gold, it is more affordable and durable. Residents of Chakan usually choose the type of gold based on intended use, aesthetic preferences, and budget considerations. Bajaj Finance offers flexible gold loan schemes against all these types, ensuring fair valuation based on gold purity and weight.

Gold rates in Chakan change frequently due to the dynamic nature of global and domestic factors. International market movements, driven by changes in gold demand and economic policies, directly impact local rates. Any fluctuation in the value of the US Dollar against the Indian Rupee also causes daily variations, as India relies heavily on gold imports.

Local demand surges during festivals and wedding seasons also contribute to price hikes. Government policies, such as revisions in import duties or changes in GST rates, can result in sudden price fluctuations. Economic indicators, inflation expectations, and geopolitical tensions add to the volatility. Bajaj Finance continuously monitors these changes, offering customers gold loans with valuations that reflect current market conditions, ensuring fair and transparent lending.

Techniques to check purity of gold in Chakan

Gold purity testing is crucial to verify the authenticity and value of the metal. Whether you are buying gold, investing in it, or using it for a gold loan, ensuring its purity is essential. In Chakan, several reliable techniques are available to accurately determine gold purity before making any financial decision.

• Hallmark certification – The Bureau of Indian Standards (BIS) hallmark certifies gold purity, indicating carat value and the jeweller’s mark for authenticity.
• X-ray fluorescence (XRF) test – A non-destructive method that uses advanced technology to determine gold composition and purity without damaging the item.
• Acid test – Involves applying nitric acid to a small section of the gold item; the reaction helps assess purity levels.
• Touchstone testing – A traditional method where gold is rubbed on a touchstone, and specific solutions are used to determine purity, though it is less accurate than modern techniques.

The impact of GST on gold rates in Chakan

GST implementation in India has had a significant impact on gold rates in Chakan. A 3% GST is levied on the value of gold jewellery, while an additional 5% GST applies to making charges. This unified taxation replaced the previous VAT and excise duty, streamlining the process but increasing the overall cost of gold items.

The inclusion of GST has made gold purchases more expensive, particularly for those buying intricately designed jewellery. While GST ensures uniform taxation, it also affects demand during festive seasons and wedding occasions. Bajaj Finance provides gold loans with valuations, ensuring that customers receive accurate and fair loan amounts. This helps borrowers access quick funds at competitive interest rates.

What are the different ways to buy/invest in gold in Chakan?

Gold investment in Chakan is popular due to its long-term value and security. Residents have several options when it comes to buying and investing in gold.

• Physical gold – Many traditional investors prefer buying gold in the form of jewellery, coins, or bars, which are easily available at local jewellery stores.
• Gold ETFs (Exchange-Traded Funds) – These allow investors to trade gold on stock exchanges, providing liquidity without the hassle of physical storage.
• Sovereign Gold Bonds (SGBs) – Issued by the Reserve Bank of India, SGBs offer a secure investment option with fixed interest and potential capital appreciation.
• Digital gold – A modern investment alternative that lets you purchase gold online, ensuring secure storage with the option to convert it into physical gold when needed.
• Gold mutual funds – These funds invest in gold-related assets, such as ETFs or gold mining companies, providing indirect exposure to gold price movements.

Bajaj Finance supports investment strategies by offering gold loans against physical gold, allowing customers to access liquidity without selling their valuable assets. This flexible approach enables investors to manage finances effectively while retaining ownership of their gold.

What are taxes on gold in Chakan?

When purchasing or selling gold in Chakan, several taxes come into play. The primary tax applicable on gold jewellery is the Goods and Services Tax (GST), which is set at 3% of the gold's value. Additionally, making charges on jewellery attract a GST of 5%. This uniform tax system has replaced the older VAT and excise duty, streamlining taxation nationwide.

If the total value of purchased gold exceeds Rs.2 lakh, the buyer must provide their PAN card, as mandated by the Income Tax Department. When selling gold at a profit, capital gains tax is applicable. Short-term capital gains are taxed as per the individual's income tax slab, while long-term capital gains (if held for more than three years) are taxed at 20% with indexation. Bajaj Finance takes these factors into account when providing gold loans, ensuring accurate valuations while adhering to tax regulations.

What is making charges on gold jewellery in Chakan?

Making charges are additional costs added to the price of gold jewellery, covering the craftsmanship and labour involved in designing and manufacturing. These charges can vary significantly depending on the complexity of the design, craftsmanship, and whether the jewellery is handmade or machine-made. Typically, making charges range from 5% to 20% of the gold's value.

Handcrafted jewellery with intricate designs generally has higher making charges due to the labour-intensive process. In contrast, machine-made ornaments have relatively lower charges. Some jewellers in Chakan also apply a fixed rate per gram. It is essential to compare making charges across different jewellers to get the best deal. Bajaj Finance offers gold loans considering the intrinsic value of gold, excluding making charges, ensuring customers receive fair and transparent loan amounts without hidden costs.

For example, if the purchase amount exceeds Rs.2 lakh, buyers must provide their PAN card, as mandated by the Income Tax Department. When selling gold, capital gains tax is applicable. Short-term capital gains (for assets held less than three years) are taxed as per the individual’s income slab, while long-term capital gains (for assets held over three years) are taxed at 20% with indexation. Bajaj Finance offers gold loans with transparent evaluations, ensuring fair valuation.

Impact of gold rate on gold loans in Chakan

Gold rate fluctuations significantly impact the amount one can borrow against their gold assets. When gold prices rise, the loan value increases, allowing borrowers to secure higher amounts. Conversely, when gold rates drop, the loan-to-value ratio decreases, affecting the total loan amount. This dynamic nature makes it crucial for borrowers to monitor market conditions before opting for a gold loan.

For those seeking an online gold loan, it becomes essential to keep track of the prevailing gold rates to get the best deal. Bajaj Finance offers competitive interest rates and multiple repayment options, ensuring that borrowers get maximum value against their gold assets, regardless of market volatility. With transparent and accurate gold evaluations, Bajaj Finance remains a reliable choice for residents in Chakan seeking immediate financial assistance.

Where can you get a gold loan in Chakan?

Availing a gold loan in Chakan can be a wise financial decision during emergencies or when liquidity is needed. With Bajaj Finserv Gold Loan, borrowers can avail loan amounts ranging from Rs. 5,000 to Rs. 2 crore, along with a competitive rate of interest against gold loan and fast processing.

Your pledged gold remains fully insured at no additional cost, ensuring complete safety. Bajaj Finance provides a high loan-to-value (LTV) ratio, allowing you to maximise your loan eligibility. The application process is hassle-free, with minimal documentation and straightforward eligibility requirements.

You also have the flexibility to choose a repayment schedule that suits your finances—whether monthly, bi-monthly, quarterly, half-yearly, or annually. With secure storage and complimentary insurance, Bajaj Finance guarantees peace of mind throughout the loan tenure.

For those in Chakan looking for quick access to funds, a gold loan offers competitive terms and a seamless borrowing experience. Apply now to get the best value for your gold.Know more about gold rates in Indian states and Union Territories

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