Gold rates in Jharkhand
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%)
The ongoing pandemic has led to an escalated economic crisis, with the stock market struggling and profits dwindling. Currently, liquidating assets without incurring financial losses is a challenge.
Furthermore, Non-Banking Financial Companies (NBFCs) and banks have become more cautious with loan disbursements, complicating efforts to secure funds for medical emergencies, unexpected expenses, or business capital.
In such times, gold becomes a crucial asset due to its ease of liquidation at the prevailing gold rate in Jharkhand. Understanding how both rural and urban investors can effectively leverage the current gold rate in Jharkhand and their gold holdings is particularly beneficial during these challenging times.
Jharkhand, located in Eastern India, was formerly part of Bihar until it became a separate state in November 2000. Residents of Jharkhand view gold and the ongoing gold rate in the state as a reliable safeguard against inflation, positioning gold as a favored choice for investment.
The ongoing pandemic has led to an escalated economic crisis, with the stock market struggling and profits dwindling. Currently, liquidating assets without incurring financial losses is a challenge.
Furthermore, Non-Banking Financial Companies (NBFCs) and banks have become more cautious with loan disbursements, complicating efforts to secure funds for medical emergencies, unexpected expenses, or business capital.
In such times, gold becomes a crucial asset due to its ease of liquidation at the prevailing gold rate in Jharkhand. Understanding how both rural and urban investors can effectively leverage the current gold rate in Jharkhand and their gold holdings is particularly beneficial during these challenging times.
Jharkhand, located in Eastern India, was formerly part of Bihar until it became a separate state in November 2000. Residents of Jharkhand view gold and the ongoing gold rate in the state as a reliable safeguard against inflation, positioning gold as a favored choice for investment.
24K Gold Rates Per Gram in Jharkhand
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 Jharkhand
24K Gold Rates Per Gram in Jharkhand
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 Jharkhand
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 Jharkhand
Determinants of Gold Prices in Jharkhand
Several key factors influence the 22k gold rate today in Jharkhand:
Import Duty:
The high demand for gold in Jharkhand affects import duties, which in turn directly impacts the gold rate in the state, subsequently affecting the current selling prices.
Dollar Fluctuations:
About half of the gold price movements in India since 2002 are linked to the US dollar. The declining value of the rupee, fluctuating US dollar prices, and rising gold import costs all contribute to the variations in today’s gold rate in Jharkhand.
Demand and Supply Dynamics:
In India, the Southern states account for 40% of gold demand, Western states about 30%, Eastern states around 15%, and Northern states 25%. With Indian jewelry consumption at 0.4 grams per capita and 90% of gold being imported and paid for in USD, these factors directly influence today's gold rate in Jharkhand.
Investments in Jewelry:
Gold purchases surge during wedding seasons and religious festivals in India, pushing the gold rate in Jharkhand higher, particularly during occasions like Dhanteras, Ugadi, Sankranti, and Akshaya Tritiya.
Inflation and Market Conditions:
High lending rates set by the Central Bank and low deposit interest rates increase the demand for gold, causing the 22-carat gold rate in Jharkhand to rise.
Government Reserves and Trading:
Gold prices and the rate in Jharkhand fluctuate based on government reserves and the amount of gold traded by the Government. With over 300,000 jewelers in India (as per a World Gold Council study) and about 23 banks and trading agencies holding import licenses for gold, these factors significantly impact the gold rates.
Determinants of Gold Prices in Jharkhand
Several key factors influence the 22k gold rate today in Jharkhand:
Import Duty:
The high demand for gold in Jharkhand affects import duties, which in turn directly impacts the gold rate in the state, subsequently affecting the current selling prices.
Dollar Fluctuations:
About half of the gold price movements in India since 2002 are linked to the US dollar. The declining value of the rupee, fluctuating US dollar prices, and rising gold import costs all contribute to the variations in today’s gold rate in Jharkhand.
Demand and Supply Dynamics:
In India, the Southern states account for 40% of gold demand, Western states about 30%, Eastern states around 15%, and Northern states 25%. With Indian jewelry consumption at 0.4 grams per capita and 90% of gold being imported and paid for in USD, these factors directly influence today's gold rate in Jharkhand.
Investments in Jewelry:
Gold purchases surge during wedding seasons and religious festivals in India, pushing the gold rate in Jharkhand higher, particularly during occasions like Dhanteras, Ugadi, Sankranti, and Akshaya Tritiya.
Inflation and Market Conditions:
High lending rates set by the Central Bank and low deposit interest rates increase the demand for gold, causing the 22-carat gold rate in Jharkhand to rise.
Government Reserves and Trading:
Gold prices and the rate in Jharkhand fluctuate based on government reserves and the amount of gold traded by the Government. With over 300,000 jewelers in India (as per a World Gold Council study) and about 23 banks and trading agencies holding import licenses for gold, these factors significantly impact the gold rates.
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 Jharkhand?
Evaluation of Gold Purity and Rates in Jharkhand
In Jharkhand, the determination of gold rates and their purity is carried out by the guidelines established by the Indian Bullion Association. Gold dealers across the state are mandated to hallmark their products, which is a testament to the gold's verified purity.
The gold market in Jharkhand, much like in Uttarakhand, is influenced by international market trends. India's relatively small scale of gold mining activities means that the local gold prices in Jharkhand are not as directly affected by these global market fluctuations.
Nonetheless, international developments and market trends hold a significant influence on the gold market. These factors play a crucial role in shaping the dynamics of the gold market, impacting the buying power of gold importers and the general populace not just in Jharkhand, but throughout India.
Evaluation of Gold Purity and Rates in Jharkhand
In Jharkhand, the determination of gold rates and their purity is carried out by the guidelines established by the Indian Bullion Association. Gold dealers across the state are mandated to hallmark their products, which is a testament to the gold's verified purity.
The gold market in Jharkhand, much like in Uttarakhand, is influenced by international market trends. India's relatively small scale of gold mining activities means that the local gold prices in Jharkhand are not as directly affected by these global market fluctuations.
Nonetheless, international developments and market trends hold a significant influence on the gold market. These factors play a crucial role in shaping the dynamics of the gold market, impacting the buying power of gold importers and the general populace not just in Jharkhand, but throughout India.
Necessary Documentation for Gold Investment in Jharkhand
Documentation Needed for Gold Investment in Madhya Pradesh
Physical Gold Transactions:
No specific documentation, brokerage, or Demat account is needed to purchase physical gold. However, it's important to retain the purchase receipt and BIS certification for your records.
Investing More Than Rs. 2 Lakhs:
For gold investments exceeding Rs. 2 lakhs, such as in jewelry, coins, or bars at the current 22-carat gold rate, you are required to present a PAN Card and an official ID with your name and address, like a Voter ID, Passport, or Aadhar Card.
Investment in Exchange-Traded Funds (ETFs):
To invest in gold ETFs, opening both a brokerage account and a Demat account is mandatory with the provider of these ETFs.
Sovereign Gold Bonds (SGBs) and Digital Gold:
These investment forms usually involve minimal paperwork and do not require a Demat account.
Gold Mutual Funds:
For investing in mutual funds that focus on gold, setting up a brokerage and a Demat account is necessary.
Documentation Needed for Gold Investment in Madhya Pradesh
Physical Gold Transactions:
No specific documentation, brokerage, or Demat account is needed to purchase physical gold. However, it's important to retain the purchase receipt and BIS certification for your records.
Investing More Than Rs. 2 Lakhs:
For gold investments exceeding Rs. 2 lakhs, such as in jewelry, coins, or bars at the current 22-carat gold rate, you are required to present a PAN Card and an official ID with your name and address, like a Voter ID, Passport, or Aadhar Card.
Investment in Exchange-Traded Funds (ETFs):
To invest in gold ETFs, opening both a brokerage account and a Demat account is mandatory with the provider of these ETFs.
Sovereign Gold Bonds (SGBs) and Digital Gold:
These investment forms usually involve minimal paperwork and do not require a Demat account.
Gold Mutual Funds:
For investing in mutual funds that focus on gold, setting up a brokerage and a Demat account is necessary.
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 Jharkhand
Considerations for Purchasing Gold Jewelry in Jharkhand
If you're planning to purchase gold jewelry at the current 916 gold rate in Jharkhand, here are some key aspects to keep in mind:
Hallmarking and BIS Certification:
The BIS certification assures the purity of gold, while hallmarking confirms the quality of gold, including details like logos and purity. These are crucial indicators, especially for jewelry valued at the 22-carat gold rate in Jharkhand today.
Monitoring Rate Fluctuations:
Gold rates are subject to daily changes, varying by location and even moment-to-moment on the commodities market. It's important to stay updated on the current gold rate in Jharkhand, including the 22k and 18-carat rates, before making your investment.
Trading Terms and Buy-Back Conditions:
Understanding the buy-back terms is vital. When selling gold back to a jeweler, you may not recover the costs of making charges, wastage, or the stone weight, even at the prevailing gold rate in Jharkhand, which can significantly affect the value, particularly for gram-to-gram exchanges.
Types of Gold and Purchase Limits:
Be aware of the recent limitations on gold holdings per family in India. While 22K gold jewelry is common, other varieties like 18K, white, and rose gold are also available. Familiarize yourself with the different types and purchase limits before making a decision.
Hidden Costs:
Be mindful of wastage and making charges, which can range from 7 to 25% of the price of the gold ornament based on today’s gold rate in Jharkhand 916. Additionally, GST is applicable at 3% of the total purchase price.
Considerations for Purchasing Gold Jewelry in Jharkhand
If you're planning to purchase gold jewelry at the current 916 gold rate in Jharkhand, here are some key aspects to keep in mind:
Hallmarking and BIS Certification:
The BIS certification assures the purity of gold, while hallmarking confirms the quality of gold, including details like logos and purity. These are crucial indicators, especially for jewelry valued at the 22-carat gold rate in Jharkhand today.
Monitoring Rate Fluctuations:
Gold rates are subject to daily changes, varying by location and even moment-to-moment on the commodities market. It's important to stay updated on the current gold rate in Jharkhand, including the 22k and 18-carat rates, before making your investment.
Trading Terms and Buy-Back Conditions:
Understanding the buy-back terms is vital. When selling gold back to a jeweler, you may not recover the costs of making charges, wastage, or the stone weight, even at the prevailing gold rate in Jharkhand, which can significantly affect the value, particularly for gram-to-gram exchanges.
Types of Gold and Purchase Limits:
Be aware of the recent limitations on gold holdings per family in India. While 22K gold jewelry is common, other varieties like 18K, white, and rose gold are also available. Familiarize yourself with the different types and purchase limits before making a decision.
Hidden Costs:
Be mindful of wastage and making charges, which can range from 7 to 25% of the price of the gold ornament based on today’s gold rate in Jharkhand 916. Additionally, GST is applicable at 3% of the total purchase price.
FAQs on Gold Rates in Jharkhand
Where can I find the current live gold rates in Jharkhand?
Live gold rates in Jharkhand are available on financial news websites, gold rate tracking applications, and at local jewelry stores.
What factors influence the daily fluctuations in gold prices in Jharkhand?
Daily fluctuations in gold prices in Jharkhand are influenced by global market trends, local demand and supply dynamics, and currency exchange rates.
Do gold prices in Jharkhand increase during festive seasons and weddings?
Yes, gold prices in Jharkhand typically rise during festive seasons and weddings due to increased demand.
How do international market trends affect gold prices in Jharkhand?
International market trends, including global demand for gold and changes in currency valuations, significantly impact gold prices in Jharkhand.
Are the gold rates in Jharkhand updated frequently throughout the day?
Yes, gold rates in Jharkhand are regularly updated to reflect the most current market conditions.
Where can I find the current live gold rates in Jharkhand?
Live gold rates in Jharkhand are available on financial news websites, gold rate tracking applications, and at local jewelry stores.
What factors influence the daily fluctuations in gold prices in Jharkhand?
Daily fluctuations in gold prices in Jharkhand are influenced by global market trends, local demand and supply dynamics, and currency exchange rates.
Do gold prices in Jharkhand increase during festive seasons and weddings?
Yes, gold prices in Jharkhand typically rise during festive seasons and weddings due to increased demand.
How do international market trends affect gold prices in Jharkhand?
International market trends, including global demand for gold and changes in currency valuations, significantly impact gold prices in Jharkhand.
Are the gold rates in Jharkhand updated frequently throughout the day?
Yes, gold rates in Jharkhand are regularly updated to reflect the most current market conditions.
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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