Gold rates in Patna
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 remains a longstanding tradition. The emergence of various investment opportunities hasn't diminished the attraction towards gold. Its demand significantly influences the gold prices in Patna.
Gold holds a dear place in Indian culture, often being the choice of adornment for weddings and other ceremonial occasions.
Consult this article to discover the live gold rates in Patna today.
Investing in gold remains a longstanding tradition. The emergence of various investment opportunities hasn't diminished the attraction towards gold. Its demand significantly influences the gold prices in Patna.
Gold holds a dear place in Indian culture, often being the choice of adornment for weddings and other ceremonial occasions.
Consult this article to discover the live gold rates in Patna today.
24K Gold Rates Per Gram in Patna
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 Patna
24K Gold Rates Per Gram in Patna
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 Patna
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 Patna
Understanding the Dynamics Behind Gold Price Fluctuations:
Demand and Supply:
The interplay between demand and supply plays a crucial role in shaping the gold rate in Patna. An imbalance where demand exceeds supply typically results in higher gold prices in the city.
Interest Rates:
The cost of gold is closely linked to interest rates, showing an inverse relationship. An increase in interest rates tends to reduce the attractiveness of buying gold, leading to a decrease in demand.
Jewelry Market Demand:
In India, gold is extensively used in jewelry for weddings and other celebrations, leading to significant stocks of gold jewelry, particularly in traditional settings.
Impact of Inflation:
Inflation leads to decreased currency value, making gold an attractive investment as a hedge against currency devaluation and maintaining its value over time.
Government Gold Reserves:
The activities of the Indian government in managing gold reserves, through buying and selling by The Reserve Bank of India, influence gold prices to fluctuate based on governmental transactions.
Currency Exchange Rate Effects:
Since gold prices on the international market are denominated in USD, fluctuations in the USD to INR exchange rate directly affect the import cost of gold, leading to variations in domestic gold prices.
Import Duty Influence:
Despite India's small contribution to global gold production, the strong demand for gold in Patna, coupled with India being one of the largest gold consumers globally, means that import duties significantly impact the retail price of gold daily.
Understanding the Dynamics Behind Gold Price Fluctuations:
Demand and Supply:
The interplay between demand and supply plays a crucial role in shaping the gold rate in Patna. An imbalance where demand exceeds supply typically results in higher gold prices in the city.
Interest Rates:
The cost of gold is closely linked to interest rates, showing an inverse relationship. An increase in interest rates tends to reduce the attractiveness of buying gold, leading to a decrease in demand.
Jewelry Market Demand:
In India, gold is extensively used in jewelry for weddings and other celebrations, leading to significant stocks of gold jewelry, particularly in traditional settings.
Impact of Inflation:
Inflation leads to decreased currency value, making gold an attractive investment as a hedge against currency devaluation and maintaining its value over time.
Government Gold Reserves:
The activities of the Indian government in managing gold reserves, through buying and selling by The Reserve Bank of India, influence gold prices to fluctuate based on governmental transactions.
Currency Exchange Rate Effects:
Since gold prices on the international market are denominated in USD, fluctuations in the USD to INR exchange rate directly affect the import cost of gold, leading to variations in domestic gold prices.
Import Duty Influence:
Despite India's small contribution to global gold production, the strong demand for gold in Patna, coupled with India being one of the largest gold consumers globally, means that import duties significantly impact the retail price of gold daily.
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 Patna
Assessing Gold Purity in Patna:
In Patna, the assessment of gold purity and pricing falls under the purview of the Indian Bullion Association, which mandates that all gold items are hallmarked to confirm their purity.
Similar to other regions, the price of gold in Patna is determined by the global market's fluctuations.
Despite the lack of domestic gold mining in India, variations in the global markets significantly impact the purchasing power of both importers and the general populace in Patna, influencing their ability to procure gold.
Assessing Gold Purity in Patna:
In Patna, the assessment of gold purity and pricing falls under the purview of the Indian Bullion Association, which mandates that all gold items are hallmarked to confirm their purity.
Similar to other regions, the price of gold in Patna is determined by the global market's fluctuations.
Despite the lack of domestic gold mining in India, variations in the global markets significantly impact the purchasing power of both importers and the general populace in Patna, influencing their ability to procure gold.
Necessary Documentation for Gold Investment in Patna
Required Documentation for Gold Investment:
For investments totaling Rs. 2 lakhs or higher, a PAN card along with a document for address verification is needed.
To invest in Gold ETFs (Exchange-Traded Funds), opening a brokerage and a Demat account with the entity selling the ETFs is essential.
Engaging in SGBs (Sovereign Gold Bonds) and digital gold investments typically requires minimal documentation and does not necessitate a Demat account.
A brokerage and a Demat account are prerequisites for investing in gold mutual funds.
Required Documentation for Gold Investment:
For investments totaling Rs. 2 lakhs or higher, a PAN card along with a document for address verification is needed.
To invest in Gold ETFs (Exchange-Traded Funds), opening a brokerage and a Demat account with the entity selling the ETFs is essential.
Engaging in SGBs (Sovereign Gold Bonds) and digital gold investments typically requires minimal documentation and does not necessitate a Demat account.
A brokerage and a Demat account are prerequisites for investing in gold mutual funds.
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 Patna
Key Considerations When Purchasing Gold in Patna:
Purity Levels:
While 24K gold is considered pure, its lack of malleability means it's often alloyed with other metals, resulting in variations like 22K, 18K, and 14K gold.
Gold Price Per Gram:
The cost of gold varies not just daily but also by location. It's essential to verify the current 22-carat and 18-carat gold prices per gram in Patna before making any purchase.
Buy-Back Policy:
In a fluctuating market, choosing sellers who offer clear buy-back terms at current market rates is important. Many also provide the option to sell or exchange gold minus the making charges, securing the day's rates.
Gold Certification:
The Bureau of Indian Standards oversees the certification of gold purity. The widely recognized 916 hallmark indicates a composition of 91.6% pure gold, equivalent to 22K gold.
Manufacturing Charges:
The retail cost of gold jewelry in Patna often surpasses the day's 916 gold rate due to additional making charges. The overall price is typically calculated by adding the making charges (approximately 10 to 20% of the current gold rate) and GST at 3% to the weight of the gold in grams multiplied by the 22-carat gold rate in Patna.
Key Considerations When Purchasing Gold in Patna:
Purity Levels:
While 24K gold is considered pure, its lack of malleability means it's often alloyed with other metals, resulting in variations like 22K, 18K, and 14K gold.
Gold Price Per Gram:
The cost of gold varies not just daily but also by location. It's essential to verify the current 22-carat and 18-carat gold prices per gram in Patna before making any purchase.
Buy-Back Policy:
In a fluctuating market, choosing sellers who offer clear buy-back terms at current market rates is important. Many also provide the option to sell or exchange gold minus the making charges, securing the day's rates.
Gold Certification:
The Bureau of Indian Standards oversees the certification of gold purity. The widely recognized 916 hallmark indicates a composition of 91.6% pure gold, equivalent to 22K gold.
Manufacturing Charges:
The retail cost of gold jewelry in Patna often surpasses the day's 916 gold rate due to additional making charges. The overall price is typically calculated by adding the making charges (approximately 10 to 20% of the current gold rate) and GST at 3% to the weight of the gold in grams multiplied by the 22-carat gold rate in Patna.
FAQs on Gold Rates in Patna
What is the current live gold rate in Patna?
The live gold rate in Patna fluctuates daily; check the most recent rates on a reliable financial news site or with local jewelers.
How frequently do gold prices change in Patna?
Gold prices in Patna can change throughout the day, reflecting global market conditions.
What factors influence the gold rate in Patna?
The gold rate in Patna is influenced by global gold prices, currency exchange rates, local demand, and geopolitical factors.
Where can I find the most accurate gold rates for Patna?
Accurate gold rates for Patna are available on reputable financial websites, gold rate tracking apps, or directly from well-established jewelers.
Do gold rates vary among different jewelers in Patna?
While the base rate for gold may be similar, making charges and GST can cause slight variations in rates among different jewelers in Patna.
What is the current live gold rate in Patna?
The live gold rate in Patna fluctuates daily; check the most recent rates on a reliable financial news site or with local jewelers.
How frequently do gold prices change in Patna?
Gold prices in Patna can change throughout the day, reflecting global market conditions.
What factors influence the gold rate in Patna?
The gold rate in Patna is influenced by global gold prices, currency exchange rates, local demand, and geopolitical factors.
Where can I find the most accurate gold rates for Patna?
Accurate gold rates for Patna are available on reputable financial websites, gold rate tracking apps, or directly from well-established jewelers.
Do gold rates vary among different jewelers in Patna?
While the base rate for gold may be similar, making charges and GST can cause slight variations in rates among different jewelers in Patna.
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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