Know About the gold rate today in Goa

Apart from the rich scenery and exotic beaches that keep tourists returning to God, there is much more to the state. Because of the cosmopolitan nature of the population here (which contains people from both India and Europe), gold holds quite a lot of importance in Goa. Currently, the gold rate in Goa is important as the trade and economy of the state are affected to a great extent by foreign influence. Tourism is the main industry of this state, along with agriculture, but apart from that, the inhabitants love to buy gold for ornamentation, and it is seen as a safe haven asset. 

Gold has an important role to play in the history of the state as well. Kadambas ruled Goa in the earlier part of the 12th century for more than 400 years, and they would issue gold coins as a currency. In fact, Goa housed the first Portuguese mint started by Alburquerque in the East. This mint issued silver, bronze, and gold coins in the 16th century. Gold is extremely significant in the trade and retail market even today. In this blog, we will talk more about the gold rate in Goa in the current market. 

The trend of the Monthly Gold Rate in Goa for August 2022

• The opening gold rate in Goa was Rs. 5,056/ gram for August.

• The lowest rate was recorded on Aug 29, when its rate was Rs. 5.035/ gram. The highest gold rate today in Goa was recorded on August 14 and 15, when it was Rs. 5,156/ gram. 

• The closing rate of gold for August was Rs. 5,061/ gram, and its overall performance saw an inclining trend of 0.1%.

Gold Investment Avenues in Goa

Goa is one of India’s most coveted tourist destinations due to its exotic beaches and offbeat culture. In spite of the civil disturbance of 1961 and colonisation, it has come through as a wealthy area of the country. Therefore, gold holds significant importance in Goa. 

Over The Counter: Gold is sold in the form of bullions, coins, and jewellery. The Indian and cosmopolitan fusion in the state’s culture has produced a base for both the jewellery designers and buyers. Buyers can purchase holds from different bullion dealers, including Pushpak, Pentagon, and Muthoot. The other popularly known brands like Malabar and Tanishq are also big in Goa. In Goa, there is a demand for gold from the tourism industry also. 

Trade: Futures contracts, spot contracts and ETFs are the commonest ways of gold trade in terms of the international gold rates. The Mumbai Stock Exchange forms the basis of the gold ETF trade. 

Gold Rate Today in Goa- Standard Gold (22 K)

Conclusion

We hope this blog familiarises you with the gold rate today in Goa. Check our other blogs to know about the gold rate in other cities of India. 

Read Also: All About the Gold Rate in Jodhpur