Today Gold Rate per Gram in Vizag
Visakhapatnam, also popularly known as Vizag, is the largest city in Andhra Pradesh and one of the four cities of Andhra Pradesh selected under the Smart Cities Mission by the Government of India.
Lovingly called the ‘Jewel of the East Coast’, the city is the hub of economic activities in the state and is a major contributor to the country’s GDP. It boasts of the fifth-busiest cargo port in the country and premium educational institutions like the IIM. Visakhapatnam is also a popular tourist destination with beautiful beaches, ancient Buddha sites, and the stunning Eastern Ghats.
Visakhapatnam has several options where a person can buy and sell gold for cash.
Factors affecting gold price today in Visakhapatnam
Today gold rate in Vizag is affected by several domestic and international factors.
- Inflation: The demand for gold increases when there is an increase in inflation. When inflation is high, investors prefer to invest in gold over other financial instruments like stocks and currency. It results in high demand for gold in the retail market. The increased demand results in a higher price of gold for the customers.
- Government gold reserves: The Reserve Bank of India has a mandate for holding currency and gold reserves. When RBI starts holding more gold in its reserve, the supply of gold for retail customers decreases, and gold price increases in the market.
- Global movement: The change in the global price of gold affects the cost of importing gold to a country. When gold imports become costlier, the price of gold in the consumer market also increases.
- Seasonal demand: The demand for gold increases among retail consumers during festivals and the wedding season. Such an occasional rise in demand leads to a rise in gold prices in those periods.
How to sell gold for cash in Visakhapatnam
Muthoot Gold Point is the preferred name for gold sellers in Visakhapatnam and other cities across the country. Customers can sell their gold at Muthoot Gold Point using the following steps:
- Visit the nearest Muthoot Gold Point branch and give the gold items for valuation.
- The gold items are cleaned using ultrasonic machines.
- Then the gold is weighed and valued using advanced XRF machines.
- The customer can see the entire process of cleaning, weighing, and valuing the gold which ensures transparency.
- Muthoot Gold Point values the gold as per the current gold price in Visakhapatnam.
- The seller gets instant cash or fund transfer for his gold.
Visit the nearest branch of Muthoot Gold Point today to get the best value on your old gold.
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