Why 1 Sovereign gold is 8 grams..!?

Sowmiya Sriram
Why 1 Sovereign gold is 8 grams..!?
In tamil Nadu, people usually buy jewelry in the amount of one gram, full Sovereign, or half Sovereign. 1/4th Sovereign is 2 grams, half Sovereign is 4 grams, three-quarters of Sovereign is 6 grams and a Sovereign is 8 grams. So let's see why gold is 1 Sovereign of gold is 8 grams. During the british rule in India, many people bought the british razor gold coin. Its weight was 7.98805 grams. Roundabout now says 8g.
In Tamilnadu, it is said to be one pavan of gold and one Savaran of gold. Both are 8 grams of gold. In the northern states, they would say tola instead of Sovereign. Tola is 10 grams of gold. Although we say that 1 Sovereign gold is 8 grams, technically the weight of 1 Sovereign gold is 7.98 grams.
Pure gold 24 carats. No ornaments can be made in it. gold jewelry is made from 22 carats to 9 carats. 22-carat gold is 91.6 percent gold and 8.4 percent other metals such as copper and silver. 18 carat is 75 percent gold, 14 carat is 58.5 percent gold and 9 carat is 37.5 percent gold. The value of gold depends on the metals added. 22-carat gold jewelry is easily damaged. The character of the carat-less gold jewelry will be solid and firm.
In which state is gold bought most?
Most of the indian urban areas buy gold jewelry in Kerala. It is followed by tamil Nadu, Haryana, West Bengal, Gujarat, Chhattisgarh, and Karnataka. Most of the gold is bought in rural Kerala, followed by Goa, Karnataka, Himachal Pradesh, tamil Nadu, Jammu & Kashmir, and Punjab.
The lowest gold buying states are urban areas of Bihar, Goa, Jharkhand, Nagaland, Mizoram, Meghalaya, and Sikkim. In rural areas, gold is bought in small quantities in Bihar, Assam, Nagaland, Meghalaya, Jharkhand, Mizoram, and Sikkim.
Why do people love to buy gold? Although many people love to buy gold, if the middle and poor people buy gold they can immediately mortgage or sell it for cash in case of an emergency. The value of gold will continue to rise.
The value of a gram of gold is Rs. 4744 which was Rs. 2768 in May 2012. Such rising value is said to be the main reason why people are investing in gold.

Find Out More:

why is 1 sovereign of gold is 8 grams

Related Articles: