Gold Price in Manipur

In Manipur, gold is traditionally invested in the form of jewellery, coins, and bars. However, new channels of investment in gold have recently opened up, including gold ETFs and digital gold.

The gold prices in Manipur are affected by the rate of the Indian currency with respect to the US dollar, the price of oil, and important political events.

In Manipur, gold is always in demand, making it a highly liquid asset. Selling gold is not difficult, as most jewellers and pawn shops are willing to buy.

The gold rate in Manipur is updated daily based on factors such as import duty, GST, and regional demand. The Manipur Gold Dealers' Association also has a big say in setting the day’s rates.

The Paona Bazaar and Thangal Bazaar areas in Imphal are the epicentres of gold trading. The small-scale artisanal workshops in the lanes of Khwairamband Bazaar are also renowned for their craftsmanship.

The government dropped gold import duty to 6% (the lowest it’s been since 2013), slashed the basic customs duty on gold from 10% to 5%, and also trimmed the Agriculture Infrastructure and Development Cess from 5% down to just 1%.

Gold is considered a safe investment during times of economic uncertainty and acts as a strong hedge against inflation. It continues to be a trusted asset in Manipur for both cultural and financial reasons.

When you buy gold in India, there’s a 3% GST on its value (split equally between CGST and SGST). On top of that, a 5% GST is applicable on making charges for gold jewellery.

In Manipur, gold purity is assessed using the Bureau of Indian Standards (BIS) hallmark which comes with a six-digit HUID code, the BIS logo, and a purity grade. Always verify this hallmark through the BIS CARE app.