Gold rates in Odisha
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%)
Situated along the eastern coast by the Bay of Bengal, Odisha is a state known for its rich cultural heritage. Similar to other parts of India, in Odisha, gold is a favored choice for jewelry, particularly during auspicious occasions like weddings and festivals.
Consequently, when considering purchasing gold in Odisha, several key aspects should be taken into account. These include understanding the current gold rates in Odisha, recognizing the various factors that influence these rates, and being aware of the different types of gold available.
Additionally, prospective buyers should be aware of the purity levels, hallmarking standards, and the latest trends in gold jewelry design in the region. Checking for reputable sellers and understanding buy-back terms can also be crucial.
Knowledge of these elements will not only ensure a wise purchase but also enrich the cultural significance of gold in the context of Odisha's rich traditions.
Situated along the eastern coast by the Bay of Bengal, Odisha is a state known for its rich cultural heritage. Similar to other parts of India, in Odisha, gold is a favored choice for jewelry, particularly during auspicious occasions like weddings and festivals.
Consequently, when considering purchasing gold in Odisha, several key aspects should be taken into account. These include understanding the current gold rates in Odisha, recognizing the various factors that influence these rates, and being aware of the different types of gold available.
Additionally, prospective buyers should be aware of the purity levels, hallmarking standards, and the latest trends in gold jewelry design in the region. Checking for reputable sellers and understanding buy-back terms can also be crucial.
Knowledge of these elements will not only ensure a wise purchase but also enrich the cultural significance of gold in the context of Odisha's rich traditions.
24K Gold Rates Per Gram in Odisha
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 Odisha
24K Gold Rates Per Gram in Odisha
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 Odisha
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 Odisha
Determinants of Gold Prices in Odisha:
The current gold rate in Odisha is primarily influenced by the classic economic dynamics of demand and supply. Additionally, specific factors impact the supply chain, thereby affecting gold rates in the region:
Government Gold Reserves
The Reserve Bank of India (RBI) manages government gold reserves. An increase in RBI's gold purchasing leads to a rise in gold prices, attributed to more money circulating in the market and a reduction in available gold.
Impact of Inflation
Gold, often viewed as a stable asset compared to currency, is used to hedge against inflation. High inflation typically boosts the demand for gold, leading to increased prices.
Jewellery Market Dynamics
In times of festivals like Diwali, Akshaya Tritiya, and during wedding seasons, gold rates escalate due to heightened demand, often leading to a price increase when supply cannot meet this demand.
Global Gold Market Trends
International shifts and trends in the gold market also have a significant impact on gold prices in Odisha.
Interest Rate Fluctuations
Rising interest rates often lead to the selling of gold for liquidity, increasing the market supply of gold and potentially lowering its price. Conversely, lower interest rates result in more disposable income, spurring higher demand and subsequent increases in gold prices
Determinants of Gold Prices in Odisha:
The current gold rate in Odisha is primarily influenced by the classic economic dynamics of demand and supply. Additionally, specific factors impact the supply chain, thereby affecting gold rates in the region:
Government Gold Reserves
The Reserve Bank of India (RBI) manages government gold reserves. An increase in RBI's gold purchasing leads to a rise in gold prices, attributed to more money circulating in the market and a reduction in available gold.
Impact of Inflation
Gold, often viewed as a stable asset compared to currency, is used to hedge against inflation. High inflation typically boosts the demand for gold, leading to increased prices.
Jewellery Market Dynamics
In times of festivals like Diwali, Akshaya Tritiya, and during wedding seasons, gold rates escalate due to heightened demand, often leading to a price increase when supply cannot meet this demand.
Global Gold Market Trends
International shifts and trends in the gold market also have a significant impact on gold prices in Odisha.
Interest Rate Fluctuations
Rising interest rates often lead to the selling of gold for liquidity, increasing the market supply of gold and potentially lowering its price. Conversely, lower interest rates result in more disposable income, spurring higher demand and subsequent increases in gold prices
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 Odisha
In Odisha, the evaluation of gold rates and purity is conducted by the Indian Bullion Association. Dealers must affix a hallmark symbol on all gold items to denote their purity.
The gold prices in Odisha are impacted by the global stock market. Since India does not engage in gold mining, the direct effects of market fluctuations on its gold prices are somewhat diminished.
Nevertheless, international dynamics continue to be a major influence on the purchasing capabilities of gold importers and the wider public across India, including in Odisha.
In Odisha, the evaluation of gold rates and purity is conducted by the Indian Bullion Association. Dealers must affix a hallmark symbol on all gold items to denote their purity.
The gold prices in Odisha are impacted by the global stock market. Since India does not engage in gold mining, the direct effects of market fluctuations on its gold prices are somewhat diminished.
Nevertheless, international dynamics continue to be a major influence on the purchasing capabilities of gold importers and the wider public across India, including in Odisha.
Necessary Documentation for Gold Investment in Odisha
Required Documentation for Gold Investment
When investing an amount of Rs. 2 lakhs or higher in gold, it's mandatory to present your PAN card along with proof of address.
To invest in Gold ETFs (Exchange-Traded Funds), you need to set up both a brokerage account and a Demat account with the firm offering the ETFs.
Investing in SGBs (Sovereign Gold Bonds) and digital gold typically requires minimal paperwork and does not necessitate a Demat account.
For investment in gold-related mutual funds, opening a brokerage and a Demat account is essential.
Required Documentation for Gold Investment
When investing an amount of Rs. 2 lakhs or higher in gold, it's mandatory to present your PAN card along with proof of address.
To invest in Gold ETFs (Exchange-Traded Funds), you need to set up both a brokerage account and a Demat account with the firm offering the ETFs.
Investing in SGBs (Sovereign Gold Bonds) and digital gold typically requires minimal paperwork and does not necessitate a Demat account.
For investment in gold-related mutual funds, opening a brokerage and a Demat account is essential.
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 Odisha
Essential Considerations When Purchasing Gold Jewelry
If you're planning to buy jewelry at the current 916 gold rate in Odisha, here's a checklist to guide you before making your purchase:
Hallmark and Purity Levels:
Ensure you get the correct purity for what you pay. For instance, you shouldn’t be charged the 24K gold rate for 22K gold jewelry. Checking the hallmark is crucial to verify the purity level and quality of gold, which significantly affects the price. For example, 916 gold, signifying 22K gold, comprises 91.6% gold and 8.4% other metals. While 24K gold is 99.9% pure, Indian jewelry is typically available in 22K, 18K, 10K, and 14K variations.
BIS Certification:
The Bureau of Indian Standards (BIS) certifies gold purity. The popular 916 gold, used in jewelry, indicates that each 100 grams contains 91.6 grams of pure gold, corresponding to the 22-carat gold rate in Odisha.
Daily Gold Rates:
Jewelers often base their prices on the rates provided by the Indian Bullion and Jewellers Association (IBJA), which might slightly differ from the day's market rate. Gold prices fluctuate daily and by location, so it's advisable to check the current gold rate in Odisha before investing.
Buy-Back Terms:
Many jewelers in Odisha offer buy-back services for gold at the prevailing market rate.
Wastage and Making Charges:
The making of gold ornaments involves wastage, for which jewelers charge a fee, typically ranging from 7% to 25%. Additionally, there is a 3% GST on the making charges. These factors can significantly increase the final cost of the jewelry.
Essential Considerations When Purchasing Gold Jewelry
If you're planning to buy jewelry at the current 916 gold rate in Odisha, here's a checklist to guide you before making your purchase:
Hallmark and Purity Levels:
Ensure you get the correct purity for what you pay. For instance, you shouldn’t be charged the 24K gold rate for 22K gold jewelry. Checking the hallmark is crucial to verify the purity level and quality of gold, which significantly affects the price. For example, 916 gold, signifying 22K gold, comprises 91.6% gold and 8.4% other metals. While 24K gold is 99.9% pure, Indian jewelry is typically available in 22K, 18K, 10K, and 14K variations.
BIS Certification:
The Bureau of Indian Standards (BIS) certifies gold purity. The popular 916 gold, used in jewelry, indicates that each 100 grams contains 91.6 grams of pure gold, corresponding to the 22-carat gold rate in Odisha.
Daily Gold Rates:
Jewelers often base their prices on the rates provided by the Indian Bullion and Jewellers Association (IBJA), which might slightly differ from the day's market rate. Gold prices fluctuate daily and by location, so it's advisable to check the current gold rate in Odisha before investing.
Buy-Back Terms:
Many jewelers in Odisha offer buy-back services for gold at the prevailing market rate.
Wastage and Making Charges:
The making of gold ornaments involves wastage, for which jewelers charge a fee, typically ranging from 7% to 25%. Additionally, there is a 3% GST on the making charges. These factors can significantly increase the final cost of the jewelry.
FAQs on Gold Rates in Odisha
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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