Gold Price today in Indian rupees is the word. Many people search for this word on Google frequently.

 

 

But do you know how this price will be arrived?

If you do not know, then read this article.

In addition, Majority of the gold mining is done in New Zealand, South Africa, etc

Moreover, the currency accepted in selling the gold in these countries is the US dollar.

What is the one-ounce gold price at present?…

You can see in the image that the one-ounce gold price is 2507.90 in these countries.

In addition, Majoorith or all of these countries will accept the US dollar only to sell the gold.

Moreover, one ounce is equal to 31.1 grams.

What is the cost of one Gram gold today to the buyer in those countries? …

You can see in the above image that the one-ounce gold price is 2,607.9 dollars.

In addition, one ounce is equal to 31.1 grams.

Again, one gram gold is equal to 83.85531 dollars.

Now, you already know that one dollar is equal to 85.54 rupees.

If you multiply 1 gram world gold price with 85.54 (USD to INR), you will get the gold price in Indian rupees in those countries.

i.e Rs.7,172.983.

However, the above price is not the final price of gold if you are looking to buy the gold.

In addition, for importing the gold, other taxes and charges must be paid.

Then you will get a finanal 24 carrot gold price in your hand.

What is the gold price today after Indian government charges and taxes?…

You can see in the above that the basic custom duty on the gold is 6%.

After applying the 6% custom duty to the world gold price in Indian rupees, the value you will get is Rs. 430.379.

In addition, you have to calculate 1% agriculture and infrastructure cess on the world gold price, which arrived at Rs. 71.7128.

If you add customs duty and agricultural and infrastructure cess to the world gold price, you will total the landed cost of gold in India.

i.e., Rs. 7,172.98 + Rs. 430.379 + Rs. 71.7298 = Rs. 7,675.09 (landed cost of gold).

Now, to arrive at the gold price today, you need to add 3% GST to the above landed price.

i.e Rs. 7,675.09 ( landed price) + Rs. 230.253 ( 3% gst)  = Rs. 7,904.34

Finally, this is how the gold price today in Indian rupees will be calculated.

However, this 24 carrot gold price will vary in different cities depending on the travel cost to those cities.

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