How Gold Rates Affect My Digital Gold Purchase?

Gold purchase is common in Indian households. But with digital gold, the system has changed now. It becomes easier for people now to buy and sell gold online without any worry of its security. In spite of all this you need to take care of a few things same as the old gold purchase method which is the gold rate. You need to find the gold rate today if you are purchasing it. Read this article to know the importance of  gold rate on your digital gold purchase.

Where to Buy Digital Gold?

You can buy Gold at the rate displayed on the Digital Partner Platform available in India. The purchase can be made either in Indian rupees or gold grams. For example, you can buy gold worth INR1 or 0.1 gram. But you need to keep an eye on the gold rate as rate changes based on market conditions and is updated frequently. 

The gold live price, at which you buy it, will be valid for only 5-7 minutes from the time you click to buy. In case you fail to buy it during the period, you will be redirected to the new gold live price.

What is Gold Rate Today and How is it Calculated?

Gold rate is estimated as per the market rate and weight of the gold item. Check out the table below to know the current gold rate in India.

Weight (in Gram) 22 Gold Carat  (in INR) 24 Gold Carat (in INR)
1 4,952 5,052
8 39,616 40,416
10 49,520 50,520
100 4,95,200 50,05,200

Gold Rate Today in India at Major Cities

City 22 Gold Carat  (in INR) 24 Gold Carat (in INR)
Chennai
Mumbai 48,900 53,330
Delhi 49,520 50,520
Kolkata 49,620 54,130
Bangalore 48,170 52,540
Hyderabad 48,900 53,330
Pune 49,520 50,520
Patna 49,520 50,520
Chandigarh 48,920 51,920

Note: The gold rate mentioned in the table is as per the date of 7th September, 2020.

When Gold is Credited to My Account?

When you make the payment for gold and the MMTC-PAMP accepts it, you will receive an invoice and the gold quantity will be reflected on your Gold account. You can make the payment through different payment methods like net banking, UPI, debit card, credit card, etc. The customer should know that Once MMTC-PAMP accepts your offer, cancellations or refunds are not allowed in it.

The maximum limit to buy digital gold in a single day is INR 2 lakh. The single transaction or cumulative value of transactions in a day should not exceed INR 2 lakh. So, do check the gold rate whenever you are buying a digital gold, because it helps you get the best price for gold online which helps you make the gold investment profitable.

There are several digital platforms available today from which you can buy digital gold. But choose the one which offers you a great deal and charges a fair price as per the gold rate today in India.