Jewelers are allowed to promote solely BIS-hallmarked gold jewellery, containing symbols of a BIS hallmark, purity scale grade, and a 6-digit alphanumeric code. However, the value of gold is totally different throughout Indian states and cities. Here’s the gold value of 1 and 10 grams of 24-Carat and 22-Carat pure gold in West Bengal at this time, as of 9:34 am.

24-Carat Gold Price In West Bengal Today

22 Carat Gold Price In West Bengal Today

Related: Today’s gold price in 10 cities of India.

Gold Rate In India Today: May 27, 2023

Where to Buy Gold in West Bengal?

There are numerous methods to purchase gold in West Bengal, as follows:

Gold Jewelry

Gold jewellery and ornaments could be purchased from sellers at jewellery shops of native jewelers  and corporations like Titan, Muthoot Finance, which sells jewellery which might be BIS Hallmarked gold of desired purity scales. Also, approved banks are allowed to avail of the ability to shoppers to purchase gold cash, or put money into comparable schemes on installments.

Gold Saving Schemes

Authorized NBFCs and retailers supply people to put money into gold saving schemes, whereby a sure sum of money is deposited each month as installments for a particular tenure to acquire the jewellery. Retailers usually run such schemes as money incentives to debtors.

Sovereign Gold Bonds (SGBs)

The Reserve Bank of India (RBI) points SGBs, that are authorities securities and could be redeemed solely in money on maturity. The worth of 1 bond of SGB equals one gram of 24-carat purity gold, and traders are assured assured return together with curiosity as per the market worth of gold on the time of maturity. SGBs are calculated by taking a median of closing costs of the gold.

Digital gold

The technique of shopping for digital gold on-line entails investing in small fractions as per the comfort to entry the yellow steel. The various forms of investing in digital gold embody shopping for:

• Gold Exchange Traded Funds (ETFs): A Gold ETF is an exchange-traded fund (ETF) and is backed by 99.9% purity of bodily gold. The gold ETF value tracks the home value of gold, and is listed on National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). The worth of 1 gold ETF unit equals 1 gram of gold. Like in inventory buying and selling, gold ETFs could be purchased on inventory exchang platforms utilizing demat and buying and selling accounts. Unlike SGBs, gold ETFs are topic to threat because the market value impacts the value of gold.
• Gold accumulation plan: Paytm, PhonePe, and some different cellular wallets in addition to Stock Holding Corporation of India supply gold accumulation plans, which permit traders to purchase digital gold upon a low funding. 

Related: Alternative ways to invest in gold.

Where to Sell Gold for Cash in West Bengal?

Loan against gold jewelry: Banks are approved to supply gold loans to shoppers with legitimate paperwork time and again fundamental purity checks. Gold mortgage is a secured mortgage, which is saved as a collateral to acquire as much as 75% loan-to-value ratio (LTV) of the gold. It is a short-term mortgage with tenure starting from 3 to 36 months. It costs an rate of interest, and different costs, on the principal quantity when the EMI begins after disbursement.

Retailers: Gold homeowners can go to the place of buy, or take the jewels at accredited gold shops of outlets or shops of jewellery firms, and both promote it to get a mortgage towards a desired quantity by presenting the invoice of buy, which has info on gold’s weight, place and date of buy.