Gold rates in Ranchi
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 time-honored tradition. Despite the plethora of alternative investment choices available, the allure of gold continues to be strong. Its demand significantly influences the gold prices in Ranchi. Gold holds a special place in Indian culture, often chosen for adornment at weddings and celebrations.
Explore this article to discover the current live gold rates in Ranchi.
Investing in gold remains a time-honored tradition. Despite the plethora of alternative investment choices available, the allure of gold continues to be strong. Its demand significantly influences the gold prices in Ranchi. Gold holds a special place in Indian culture, often chosen for adornment at weddings and celebrations.
Explore this article to discover the current live gold rates in Ranchi.
24K Gold Rates Per Gram in Ranchi
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 Ranchi
24K Gold Rates Per Gram in Ranchi
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 Ranchi
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 Ranchi
Key Factors Influencing Gold Price Variations:
Demand and Supply Dynamics:
The interplay between demand and supply significantly impacts today's gold rates in Ranchi. A surge in demand coupled with a constrained supply often results in higher gold prices in the region.
Interest Rate Correlation:
The cost of gold is closely linked to prevailing interest rates, displaying an inverse relationship. Increases in interest rates typically lead to a decrease in gold purchases, affecting gold prices negatively.
Jewelry Market Demand:
In India, gold jewelry is in high demand for weddings and other celebrations, leading to substantial holdings of gold jewelry, particularly in traditional settings.
Inflation's Role:
Inflation, characterized by rising rates and currency devaluation, positions gold as an attractive hedge, maintaining its value over time and thereby explaining its continued investment appeal.
Government Gold Reserves:
The Indian government's management of gold reserves, through transactions by The Reserve Bank of India, influences gold prices to fluctuate based on the volume and price of gold traded by the government.
Exchange Rate Fluctuations:
Since gold prices on the international market are set in USD, changes in the USD to INR exchange rate directly affect the cost of importing gold, leading to variations in domestic gold prices.
Import Duty Impact:
Despite India's minimal contribution to global gold production, the strong demand for gold in Ranchi, and India being one of the largest gold consumers globally, means that import duties significantly influence the retail price of gold on a daily basis.
Key Factors Influencing Gold Price Variations:
Demand and Supply Dynamics:
The interplay between demand and supply significantly impacts today's gold rates in Ranchi. A surge in demand coupled with a constrained supply often results in higher gold prices in the region.
Interest Rate Correlation:
The cost of gold is closely linked to prevailing interest rates, displaying an inverse relationship. Increases in interest rates typically lead to a decrease in gold purchases, affecting gold prices negatively.
Jewelry Market Demand:
In India, gold jewelry is in high demand for weddings and other celebrations, leading to substantial holdings of gold jewelry, particularly in traditional settings.
Inflation's Role:
Inflation, characterized by rising rates and currency devaluation, positions gold as an attractive hedge, maintaining its value over time and thereby explaining its continued investment appeal.
Government Gold Reserves:
The Indian government's management of gold reserves, through transactions by The Reserve Bank of India, influences gold prices to fluctuate based on the volume and price of gold traded by the government.
Exchange Rate Fluctuations:
Since gold prices on the international market are set in USD, changes in the USD to INR exchange rate directly affect the cost of importing gold, leading to variations in domestic gold prices.
Import Duty Impact:
Despite India's minimal contribution to global gold production, the strong demand for gold in Ranchi, and India being one of the largest gold consumers globally, means that import duties significantly influence the retail price of gold on a daily basis.
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 Ranchi
Evaluating Gold Purity in Ranchi:
In Ranchi, the regulation of gold purity and pricing is overseen by the Indian Bullion Association, which requires that all gold products are hallmarked to certify their purity.
As is the case in various locales, the cost of gold in Ranchi is determined by global market fluctuations.
With India not engaging in domestic gold mining, shifts in the global markets considerably impact the purchasing capabilities of importers and the broader community in Ranchi, influencing their access to gold.
Evaluating Gold Purity in Ranchi:
In Ranchi, the regulation of gold purity and pricing is overseen by the Indian Bullion Association, which requires that all gold products are hallmarked to certify their purity.
As is the case in various locales, the cost of gold in Ranchi is determined by global market fluctuations.
With India not engaging in domestic gold mining, shifts in the global markets considerably impact the purchasing capabilities of importers and the broader community in Ranchi, influencing their access to gold.
Necessary Documentation for Gold Investment in Ranchi
Necessary Documentation for Gold Investments:
An investment exceeding Rs. 2 lakhs necessitates the submission of a PAN card along with a valid proof of address.
To invest in Gold ETFs (Exchange-Traded Funds), it is required to establish both a brokerage and a Demat account with the firm selling the ETFs.
Engaging in SGBs (Sovereign Gold Bonds) or digital gold investments typically involves minimal documentation and does not require the setup of a Demat account.
For investments in gold mutual funds, both a brokerage and a Demat account are essential.
Necessary Documentation for Gold Investments:
An investment exceeding Rs. 2 lakhs necessitates the submission of a PAN card along with a valid proof of address.
To invest in Gold ETFs (Exchange-Traded Funds), it is required to establish both a brokerage and a Demat account with the firm selling the ETFs.
Engaging in SGBs (Sovereign Gold Bonds) or digital gold investments typically involves minimal documentation and does not require the setup of a Demat account.
For investments in gold mutual funds, both a brokerage and a Demat account are 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 Ranchi
Essential Considerations When Buying Gold in Ranchi:
Purity Levels:
While 24K represents the highest purity of gold, it's too soft for most jewelry and is usually alloyed with other metals for strength, resulting in 22K, 18K, and 14K options.
Gold Price Per Gram:
Gold prices are subject to daily fluctuations and vary by location. It's crucial to check the current 22-carat and 18-carat gold rates in Ranchi per gram before making a purchase to ensure you're getting a fair deal.
Buy-Back Terms:
With the ever-changing gold market, finding a seller who offers favorable buy-back terms at market rates is important. Many sellers will also allow you to sell or exchange gold, deducting only the making charges, to secure the day's rates.
Metal Certification:
Ensure the gold you purchase is certified for purity by the Bureau of Indian Standards. The widely recognized 916 hallmark signifies that the gold is 91.6% pure, commonly referred to as 22K gold.
Making Charges:
Be aware that the total cost of gold jewelry in Ranchi will be higher than the day's 916 gold rate due to making charges. The complete price can be estimated by adding the making charges (roughly 10 to 20% of the current gold rate) and GST at 3% to the base price determined by the weight of the gold in grams and the 22-carat rate.
By taking these factors into account, you can make an informed decision when purchasing gold in Ranchi, whether for investment or as a beautiful piece of jewelry.
Essential Considerations When Buying Gold in Ranchi:
Purity Levels:
While 24K represents the highest purity of gold, it's too soft for most jewelry and is usually alloyed with other metals for strength, resulting in 22K, 18K, and 14K options.
Gold Price Per Gram:
Gold prices are subject to daily fluctuations and vary by location. It's crucial to check the current 22-carat and 18-carat gold rates in Ranchi per gram before making a purchase to ensure you're getting a fair deal.
Buy-Back Terms:
With the ever-changing gold market, finding a seller who offers favorable buy-back terms at market rates is important. Many sellers will also allow you to sell or exchange gold, deducting only the making charges, to secure the day's rates.
Metal Certification:
Ensure the gold you purchase is certified for purity by the Bureau of Indian Standards. The widely recognized 916 hallmark signifies that the gold is 91.6% pure, commonly referred to as 22K gold.
Making Charges:
Be aware that the total cost of gold jewelry in Ranchi will be higher than the day's 916 gold rate due to making charges. The complete price can be estimated by adding the making charges (roughly 10 to 20% of the current gold rate) and GST at 3% to the base price determined by the weight of the gold in grams and the 22-carat rate.
By taking these factors into account, you can make an informed decision when purchasing gold in Ranchi, whether for investment or as a beautiful piece of jewelry.
FAQs on Gold Rates in Ranchi
What is the current live gold rate in Ranchi?
The live gold rate in Ranchi varies daily; for the most current rate, please consult a reputable financial website or contact a trusted local jeweler.
How frequently do gold prices change in Ranchi?
Gold prices in Ranchi can change throughout the day, reflecting global market dynamics and local demand.
What factors affect the gold rate in Ranchi?
The gold rate in Ranchi is influenced by several factors, including global gold prices, the exchange rate of the Indian Rupee against the US Dollar, import costs, and local demand patterns.
Where can I find the most accurate and up-to-date gold rates for Ranchi?
Accurate and current gold rates for Ranchi can be found on well-regarded financial news platforms, gold rate tracking applications, or by visiting established jewelers in the city.
Do gold rates vary among different jewelers in Ranchi?
While the base rate for gold might be similar across jewelers, additional charges such as making charges and GST can lead to slight variations in the final price offered by different jewelers in Ranchi.
What is the current live gold rate in Ranchi?
The live gold rate in Ranchi varies daily; for the most current rate, please consult a reputable financial website or contact a trusted local jeweler.
How frequently do gold prices change in Ranchi?
Gold prices in Ranchi can change throughout the day, reflecting global market dynamics and local demand.
What factors affect the gold rate in Ranchi?
The gold rate in Ranchi is influenced by several factors, including global gold prices, the exchange rate of the Indian Rupee against the US Dollar, import costs, and local demand patterns.
Where can I find the most accurate and up-to-date gold rates for Ranchi?
Accurate and current gold rates for Ranchi can be found on well-regarded financial news platforms, gold rate tracking applications, or by visiting established jewelers in the city.
Do gold rates vary among different jewelers in Ranchi?
While the base rate for gold might be similar across jewelers, additional charges such as making charges and GST can lead to slight variations in the final price offered by different jewelers in Ranchi.
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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