Gold Rate in Salem

22 karat gold is one of the standards for measuring gold purity. Because gold in its purest form is not very strong and easily breaks, it cannot be used to make gold ornaments. Some impurity is added to this gold to create 22 karat gold, which is much stronger and is commonly used in the production of gold ornaments.

The Bureau of Indian Standards, or BIS, has a gold certification standard which is known as a hallmark.  

The percentage of gold present in a gold alloy is represented by the number 916 in 22 karat gold. 916 is equivalent to 91.6% of gold. As a result, the pure gold percentage in 22 karat gold is 91.6%.  

Gold is a precious metal due to its rare availability and high economic value. In the earlier days, gold was used as money. Its useful properties added to its beauty and expensive affair makes gold – a precious metal. 

Usually, pure gold is yellow. The higher the karat of gold jewellery, the higher will be the yellowish hue of the metal.

The main reason for the disparities in gold prices across cities and states in India is the addition of precious metal transportation charges. Furthermore, the rates vary depending on the discount offered for bulk purchases. The addition of transportation costs to the price of gold results in fluctuating rates across the country during the same time period.  

By percentage, one might believe that KDM gold is superior because it contains 92% gold, but it is not hallmarked, whereas 22K gold is. Purchasing BIS 916 gold ensures purity and fineness because it is certified.

As per the investment experts, it is advised not to keep the physical gold at home owing to safety concerns and the risk of theft of the jewellery. Hence it is better to keep the bare minimum jewellery (daily ware or regularly used ones) at home and the remaining should be safeguarded in Bank Lockers.

In India, as per the instructions of the Central Board of Direct Taxes (CBDT), a married woman can keep up to 500 grams of gold ornaments and jewellery without keeping any proof. For unmarried women, a maximum of 250 grams of gold can be kept. In the case of men, only up to 100 grams of gold can be kept at home irrespective of their marital status. Anything kept above the above-mentioned limits without required proof and documents will be subject to investigation and possible seizure by concerned officials.