Gold Rates in Bhubaneswar
24K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
24K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
24K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
24K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
22K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
22K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
22K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
22K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
Investing in gold has long been a cornerstone of financial planning, holding its ground as a favored asset among various investment avenues, despite the advent of diverse options.
The unyielding demand for this precious metal significantly influences the gold rate in Bhubaneswar.
In India, gold is not just seen as a secure investment; it's also deeply embedded in the culture, often showcased in the form of jewelry during weddings and other celebratory events.
For those interested in keeping abreast of the most current gold prices, this article offers live updates on today's gold rate in Bhubaneswar. It serves as a valuable resource for investors and individuals looking to make informed decisions about purchasing gold in this vibrant city.
Investing in gold has long been a cornerstone of financial planning, holding its ground as a favored asset among various investment avenues, despite the advent of diverse options.
The unyielding demand for this precious metal significantly influences the gold rate in Bhubaneswar.
In India, gold is not just seen as a secure investment; it's also deeply embedded in the culture, often showcased in the form of jewelry during weddings and other celebratory events.
For those interested in keeping abreast of the most current gold prices, this article offers live updates on today's gold rate in Bhubaneswar. It serves as a valuable resource for investors and individuals looking to make informed decisions about purchasing gold in this vibrant city.
24K Gold Rates Per Gram in Bhubaneswar
Grams
Today
Yesterday
02 years
₹15,000
₹4.1 Lakhs
05 years
₹15,000
₹12.4 Lakhs
10 years
₹15,000
₹34.9 Lakhs
15 years
₹15,000
₹75.7 Lakhs
22K Gold Rates Per Gram in Bhubaneswar
24K Gold Rates Per Gram in Bhubaneswar
Grams
Today
Yesterday
1 Gram
₹15,000
₹4.1 Lakhs
₹15,000
8 Gram
₹15,000
₹12.4 Lakhs
₹15,000
10 Gram
₹15,000
₹34.9 Lakhs
₹15,000
12 Gram (1 Tola)
₹15,000
₹75.7 Lakhs
₹15,000
22K Gold Rates Per Gram in Bhubaneswar
Grams
Today
Yesterday
1 Gram
₹15,000.00
₹15,000.00
8 Gram
₹15,000
₹15,000.00
10 Gram
₹15,000
₹15,000.00
12 Gram (1 Tola)
₹15,000
₹15,000.00
Factors Affecting Gold rates in Bhubaneswar
Key Influences on Gold Price Variations Include:
Demand and Supply Dynamics:
The interplay between demand and supply significantly impacts the gold rate in Bhubaneswar. When demand outstrips supply, gold prices tend to rise in the city.
Interest Rate Correlation:
The cost of gold is closely tied to interest rates, with an inverse relationship observed. As interest rates increase, the allure of investing in gold diminishes, often leading to a reduction in gold purchases.
Cultural Demand for Jewelry:
In India, gold jewelry is an integral part of weddings and other celebrations, leading to substantial demand. This cultural importance of gold contributes to its high accumulation, particularly in traditional settings.
Inflation's Role:
With inflation, the value of currency decreases, making gold an attractive investment due to its enduring value. This makes gold a popular choice for safeguarding wealth over extended periods.
Impact of Government Reserves:
The Government of India, through transactions made by The Reserve Bank of India, influences gold prices by altering its gold reserves, affecting market supply and demand.
Currency Value Fluctuations:
Since gold is internationally priced in US dollars, changes in the USD to INR exchange rate directly influence the cost of importing gold, leading to daily variations in gold prices.
Effect of Import Duty:
Despite contributing less than 1% to global gold production, India's high demand for gold, especially in cities like Bhubaneswar, and its status as the second-largest gold consumer globally, mean that import duties significantly impact the retail price of gold.
Key Influences on Gold Price Variations Include:
Demand and Supply Dynamics:
The interplay between demand and supply significantly impacts the gold rate in Bhubaneswar. When demand outstrips supply, gold prices tend to rise in the city.
Interest Rate Correlation:
The cost of gold is closely tied to interest rates, with an inverse relationship observed. As interest rates increase, the allure of investing in gold diminishes, often leading to a reduction in gold purchases.
Cultural Demand for Jewelry:
In India, gold jewelry is an integral part of weddings and other celebrations, leading to substantial demand. This cultural importance of gold contributes to its high accumulation, particularly in traditional settings.
Inflation's Role:
With inflation, the value of currency decreases, making gold an attractive investment due to its enduring value. This makes gold a popular choice for safeguarding wealth over extended periods.
Impact of Government Reserves:
The Government of India, through transactions made by The Reserve Bank of India, influences gold prices by altering its gold reserves, affecting market supply and demand.
Currency Value Fluctuations:
Since gold is internationally priced in US dollars, changes in the USD to INR exchange rate directly influence the cost of importing gold, leading to daily variations in gold prices.
Effect of Import Duty:
Despite contributing less than 1% to global gold production, India's high demand for gold, especially in cities like Bhubaneswar, and its status as the second-largest gold consumer globally, mean that import duties significantly impact the retail price of gold.
Historical Gold Rates in India for the Last 10 Days
DAY
22K Gold
24K Gold
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
Historical Gold Rates in India for the Last 10 Days
DAY
22K Gold
24K Gold
31 Dec 2023
₹63,305.00
0.00%
₹63,305.00
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305.90
0.00%
₹63,305.00
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
How is the purity of gold calculated in Bhubaneswar?
Evaluating Gold Purity in Bhubaneswar:
In Bhubaneswar, the assessment of gold rates and purity is overseen by the Indian Bullion Association, mandating that all gold products bear a hallmark indicating their purity.
Like in other cities, the pricing of gold in Bhubaneswar is influenced by the global market dynamics. Despite India not producing its gold, changes in the international markets greatly affect the buying power of importers and the wider community in Bhubaneswar.
Evaluating Gold Purity in Bhubaneswar:
In Bhubaneswar, the assessment of gold rates and purity is overseen by the Indian Bullion Association, mandating that all gold products bear a hallmark indicating their purity.
Like in other cities, the pricing of gold in Bhubaneswar is influenced by the global market dynamics. Despite India not producing its gold, changes in the international markets greatly affect the buying power of importers and the wider community in Bhubaneswar.
Necessary Documentation for Gold Investment in Bhubaneswar
When considering an investment in gold, there are specific documents and prerequisites that potential investors need to be aware of, depending on the form of gold investment they choose. The documentation and account requirements vary according to the investment amount and the type of gold investment product:
For investments amounting to Rs. 2 lakhs or above, investors are mandated to furnish a PAN card alongside a valid proof of address. This requirement ensures adherence to financial regulations and aids in the verification of the investor's identity and residential status.
Investing in Gold ETFs (Exchange-Traded Funds) necessitates the opening of both a brokerage and a Demat (Dematerialized) account with the firm offering the ETFs. These accounts are essential for the electronic handling of transactions and the ownership of the ETFs.
For SGBs (Sovereign Gold Bonds), digital gold, etc., the process is streamlined with minimal paperwork required, and there's no need for a Demat account. These forms of gold investment are designed to be accessible and convenient for investors, offering digital or certificate-based ownership that simplifies the investment process.
For mutual funds investing in gold, similar to Gold ETFs, investors will need to have both a brokerage and a Demat account. These accounts facilitate the buying and selling of mutual fund units that are invested in gold or gold-related assets, providing a diversified investment option without the need for physical gold ownership.
When considering an investment in gold, there are specific documents and prerequisites that potential investors need to be aware of, depending on the form of gold investment they choose. The documentation and account requirements vary according to the investment amount and the type of gold investment product:
For investments amounting to Rs. 2 lakhs or above, investors are mandated to furnish a PAN card alongside a valid proof of address. This requirement ensures adherence to financial regulations and aids in the verification of the investor's identity and residential status.
Investing in Gold ETFs (Exchange-Traded Funds) necessitates the opening of both a brokerage and a Demat (Dematerialized) account with the firm offering the ETFs. These accounts are essential for the electronic handling of transactions and the ownership of the ETFs.
For SGBs (Sovereign Gold Bonds), digital gold, etc., the process is streamlined with minimal paperwork required, and there's no need for a Demat account. These forms of gold investment are designed to be accessible and convenient for investors, offering digital or certificate-based ownership that simplifies the investment process.
For mutual funds investing in gold, similar to Gold ETFs, investors will need to have both a brokerage and a Demat account. These accounts facilitate the buying and selling of mutual fund units that are invested in gold or gold-related assets, providing a diversified investment option without the need for physical gold ownership.
Gold Rates in Top cities
CITY
22K Gold
24K Gold
Delhi
₹65,000
0.00%
₹65,000
0.00%
Kolkata
₹65,000
0.00%
₹65,000
0.00%
Mumbai
₹65,000
0.00%
₹65,000
0.00%
Chennai
₹65,000
0.00%
₹65,000
0.00%
Jaipur
₹65,000
0.00%
₹65,000
0.00%
Key Factors to Consider When Purchasing Gold in Bhubaneswar
Essential Considerations When Purchasing Gold in Bhubaneswar:
Purity Grades:
Pure gold is categorized as 24K, yet its lack of malleability means it's often alloyed with other metals, resulting in 22K, 18K, and 14K gold options.
Gold Price per Gram:
Since gold prices vary daily and by location, it's crucial to verify current rates, such as the 22-carat and 18-carat gold prices in Bhubaneswar, before making a purchase.
Buy-back Policies:
With fluctuating markets, selecting vendors who offer favorable buy-back terms at current market prices is vital. Many also allow trading gold based on its weight, deducting making charges, to secure the day's rates.
Gold Certification:
The Bureau of Indian Standards provides certification for gold's purity. The widely recognized 916 hallmark indicates that every 100 grams of gold comprises 91.6 grams of pure gold, known as 22K gold.
Manufacturing Fees:
Jewelry prices in Bhubaneswar exceed the day's 916 gold rate due to making charges. The pricing formula includes the gold's weight in grams multiplied by the 22-carat rate, plus making charges (roughly 10 to 20% of the current gold rate), and GST at 3% of the purchase price based on today's 916 rate in Bhubaneswar.
Essential Considerations When Purchasing Gold in Bhubaneswar:
Purity Grades:
Pure gold is categorized as 24K, yet its lack of malleability means it's often alloyed with other metals, resulting in 22K, 18K, and 14K gold options.
Gold Price per Gram:
Since gold prices vary daily and by location, it's crucial to verify current rates, such as the 22-carat and 18-carat gold prices in Bhubaneswar, before making a purchase.
Buy-back Policies:
With fluctuating markets, selecting vendors who offer favorable buy-back terms at current market prices is vital. Many also allow trading gold based on its weight, deducting making charges, to secure the day's rates.
Gold Certification:
The Bureau of Indian Standards provides certification for gold's purity. The widely recognized 916 hallmark indicates that every 100 grams of gold comprises 91.6 grams of pure gold, known as 22K gold.
Manufacturing Fees:
Jewelry prices in Bhubaneswar exceed the day's 916 gold rate due to making charges. The pricing formula includes the gold's weight in grams multiplied by the 22-carat rate, plus making charges (roughly 10 to 20% of the current gold rate), and GST at 3% of the purchase price based on today's 916 rate in Bhubaneswar.
FAQs on Gold Rates in Bhubaneswar
What is the current gold rate in Bhubaneswar?
The live gold rate in Bhubaneswar varies daily, reflecting the current market conditions.
How often do gold prices change in Bhubaneswar?
Gold prices in Bhubaneswar change twice daily based on the London Bullion Market Association (LBMA) fixing.
What influences the gold rate in Bhubaneswar?
The gold rate in Bhubaneswar is influenced by international market trends, currency fluctuations, and local demand.
Can I check the historical gold rate in Bhubaneswar for investment analysis?
Yes, historical gold rates in Bhubaneswar are available for analysis through various financial websites and gold dealers.
Are there any additional charges over the displayed gold rate in Bhubaneswar when purchasing gold?
Yes, additional charges over the live gold rate may include making charges, GST, and any applicable hallmarking charges.
What is the current gold rate in Bhubaneswar?
The live gold rate in Bhubaneswar varies daily, reflecting the current market conditions.
How often do gold prices change in Bhubaneswar?
Gold prices in Bhubaneswar change twice daily based on the London Bullion Market Association (LBMA) fixing.
What influences the gold rate in Bhubaneswar?
The gold rate in Bhubaneswar is influenced by international market trends, currency fluctuations, and local demand.
Can I check the historical gold rate in Bhubaneswar for investment analysis?
Yes, historical gold rates in Bhubaneswar are available for analysis through various financial websites and gold dealers.
Are there any additional charges over the displayed gold rate in Bhubaneswar when purchasing gold?
Yes, additional charges over the live gold rate may include making charges, GST, and any applicable hallmarking charges.
Gold Rates in Top cities
City
22k Gold
24k Gold
Delhi
₹15,000.00
₹15,000.00
₹15,000.00
₹15,000.00
Kolkota
₹15,000
₹15,000.00
₹15,000.00
Mumbai
₹15,000
₹15,000.00
Chennai
₹15,000
₹15,000.00
Jaipur
₹15,000
₹15,000.00
Author
Harish Malhi
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