Here is today’s gold rate in Faridabad on Independence Day. Here is the comparison of the gold rates in Faridabad for 22-carat and 24-carat gold.
| 24-Carat Gold Rate in Faridabad (10 grams) | 22-carat Gold Rate in Faridabad (10 grams) |
|---|---|
| 71,572 rupees (10 gram) | 65559 rupees (10 gram) |
Gold Rates in Faridabad for the last 10 days
| Date | 24 Carat | 22 Carat |
|---|---|---|
| 14th Aug 2024 | ₹71,359 | ₹65,365 |
| 13th Aug 2024 | ₹71,360 | ₹65,366 |
| 12th Aug 2024 | ₹70,058 | ₹64,173 |
| 11th Aug 2024 | ₹70,058 | ₹64,173 |
| 10th Aug 2024 | ₹70,429 | ₹64,513 |
| 9th Aug 2024 | ₹70,569 | ₹64,641 |
| 8th Aug 2024 | ₹70,035 | ₹64,153 |
| 7th Aug 2024 | ₹69,561 | ₹63,718 |
| 6th Aug 2024 | ₹69,597 | ₹63,751 |
| 1st Aug 2024 | ₹70,744 | ₹64,801 |
| 31st Jul 2024 | ₹69,794 | ₹63,931 |
| 30th Jul 2024 | ₹69,435 | ₹63,603 |
| 29th Jul 2024 | ₹69,557 | ₹63,714 |
Why to Invest in Gold in Faridabad
Gold is a very popular investment in India. One can invest in Gold through Physical Gold, Digital Gold, Gold Mutual Funds, Gold exchange-traded funds (EFTs), and sovereign gold bonds.
These are the advantages of investing in Gold.
- Portfolio Diversification: Gold helps in the diversification of one’s portfolio.
- High Liquidity: Selling Gold is very easy, investors can easily sell their holdings when needed.
- Safe Investment: During economic recessions and market uncertainty, Gold is considered a safe investment, etc.
Factors which affect the Gold Price in Faridabad
Many factors affect the price of gold, such as the strength of the US Dollar, Seasonal Demand, Inflation, Supply-Demand Dynamics, Mining Costs, etc.
All these factors affect the price of Gold in Faridabad.
Understanding the different Karats of Gold
24K Gold (Pure Gold)
- Purity: 99.9% pure gold.
- Color: Bright yellow.
- Properties: Soft, malleable, and not suitable for everyday jewelry because it can scratch and bend easily.
- Uses: Often used in coins, bars, and high-end jewelry, particularly in some cultures where pure gold is highly valued.
22K Gold
- Purity: 91.6% pure gold, with 8.4% alloyed metals like copper or silver.
- Color: Slightly less yellow than 24K, but still very bright.
- Properties: More durable than 24K gold, but still relatively soft. Common in jewelry in some countries, especially in India and the Middle East.
- Uses: Jewelry that is meant to be more durable while retaining a high gold content.
18K Gold
- Purity: 75% pure gold, with 25% alloyed metals.
- Color: Less yellow than 22K, often with a slightly more muted tone.
- Properties: Stronger and more durable, suitable for everyday jewelry. The balance between purity and strength makes it a popular choice.
- Uses: High-quality jewelry, including engagement rings, necklaces, and bracelets.
14K Gold
- Purity: 58.3% pure gold, with 41.7% alloyed metals.
- Color: More muted yellow or even a different hue depending on the alloy.
- Properties: Durable and affordable, commonly used in jewelry. It is less prone to scratching and bending than higher-karat gold.
- Uses: Most common in everyday jewelry, including wedding bands and fashion pieces.
10K Gold
- Purity: 41.7% pure gold, with 58.3% alloyed metals.
- Color: Pale yellow or slightly different depending on the alloy.
- Properties: Very durable, less likely to scratch, and more affordable than higher karat gold. It may cause skin irritation for some due to the higher alloy content.
- Uses: Budget-friendly jewelry, often used in mass-produced pieces.
What is the Purest form of Gold?
The purest form of gold is 24-karat (24K) gold. It is 99.9% pure gold, with no other metals mixed in. This makes it highly valuable, but also softer and more prone to scratching and bending compared to gold that is alloyed with other metals.
What is the difference between 24K, 22K, and 18K gold?
24K gold is pure gold (99.9%), 22K gold is 91.6% pure, and 18K gold is 75% pure. The remaining percentage in 22K and 18K gold is made up of other metals like copper or silver, which make the gold more durable.
Why is gold mixed with other metals?
Gold is mixed with other metals to increase its durability, hardness, and color variety. Pure gold (24K) is soft and can easily scratch or bend, so alloys are added to make it more suitable for jewelry and other items.
How can I tell if gold is real?
You can test the authenticity of gold by checking for hallmarks, performing a magnet test (gold is not magnetic), using a nitric acid test, or having it appraised by a professional jeweler. Some at-home methods include the float test or checking for discoloration.
Is gold a good investment?
Gold is often considered a safe-haven investment, particularly during times of economic uncertainty. It tends to hold its value well over time and can be a good hedge against inflation. However, like all investments, it carries some risk and should be part of a diversified portfolio.
Where can I buy gold in Faridabad?
Faridabad has numerous jewelry stores where you can purchase gold, including well-known names like Tanishq, and PC Jeweller, and local markets in areas such as Sector 15, NIT, and Old Faridabad.
How is the gold rate determined in Faridabad?
The gold rate in Faridabad is determined by the international market price of gold, import duties, local taxes, and the demand-supply dynamics within the city.
Is it safe to invest in gold in Faridabad?
Investing in gold in Faridabad is considered safe, especially through reputed jewelers and financial institutions. It’s advisable to keep yourself updated on the gold market and consult with experts before making large investments.
How can I ensure the gold I buy in Faridabad is genuine?
To ensure the gold you buy in Faridabad is genuine, look for BIS (Bureau of Indian Standards) hallmarking, purchase from reputed jewelers, and request a purity certificate with your purchase.
How often does the gold rate in Faridabad change?
The gold rate in Faridabad changes multiple times a day, reflecting fluctuations in the global gold market, currency exchange rates, and local market conditions. It’s advisable to check the gold rate in Faridabad regularly, especially if you plan to buy or sell gold.