Gold Rates in Uttar Pradesh
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%)
Uttar Pradesh, India's most populous state, is renowned for its grand wedding celebrations, making gold an integral part of these events. People from all income levels in the state often invest in gold jewelry for family weddings.
Additionally, Uttar Pradesh is among the few states in India with gold production capabilities. In 2020, gold mines with an estimated 29,000 tonnes were discovered in the Sonbhadra district.
Traditionally, gold investment in Uttar Pradesh has taken the form of coins, bars, and jewelry. However, in recent years, residents have become more open to alternative gold investment methods beyond physical forms. Despite this, purchasing gold jewelry remains a favored investment method in the state.
Gold's reputation as a safe and straightforward investment transcends economic boundaries, making it a popular purchase for festive and special occasions. One drawback of investing in gold jewelry is the additional making charges, often about 10% of the current gold rate in Uttar Pradesh.
Moreover, with ever-changing fashion trends, the resale value of gold jewelry might not always match its original purchase price. While gold jewelry is attractive for immediate use, those looking at gold purely as an investment might find more advantageous and cost-efficient options available, which we will explore further.
Uttar Pradesh, India's most populous state, is renowned for its grand wedding celebrations, making gold an integral part of these events. People from all income levels in the state often invest in gold jewelry for family weddings.
Additionally, Uttar Pradesh is among the few states in India with gold production capabilities. In 2020, gold mines with an estimated 29,000 tonnes were discovered in the Sonbhadra district.
Traditionally, gold investment in Uttar Pradesh has taken the form of coins, bars, and jewelry. However, in recent years, residents have become more open to alternative gold investment methods beyond physical forms. Despite this, purchasing gold jewelry remains a favored investment method in the state.
Gold's reputation as a safe and straightforward investment transcends economic boundaries, making it a popular purchase for festive and special occasions. One drawback of investing in gold jewelry is the additional making charges, often about 10% of the current gold rate in Uttar Pradesh.
Moreover, with ever-changing fashion trends, the resale value of gold jewelry might not always match its original purchase price. While gold jewelry is attractive for immediate use, those looking at gold purely as an investment might find more advantageous and cost-efficient options available, which we will explore further.
24K Gold Rates Per Gram in Uttar Pradesh
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 Uttar Pradesh
24K Gold Rates Per Gram in Uttar Pradesh
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 Uttar Pradesh
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 Uttar Pradesh
Influences on Gold Prices in Uttar Pradesh
Several factors contribute to the fluctuation of gold rates in Uttar Pradesh:
Government Gold Reserves:
Managed by the Reserve Bank of India (RBI), the government's gold reserves impact market prices. When the RBI increases its gold holdings, the price of gold typically rises due to a boost in market cash flow and a reduction in gold supply.
Impact of Inflation:
Gold is often used as a hedge against inflation due to its enduring value. High inflation generally leads to a rise in gold demand, thereby increasing prices, and the reverse occurs during low inflation periods.
Jewellery Market Demand:
Gold rates tend to surge during festive seasons like Diwali, Akshaya Tritiya, and wedding seasons because of heightened demand. This demand-supply imbalance can result in higher gold prices.
Global Market Trends:
International movements in gold prices also significantly affect the rates in Uttar Pradesh.
Interest Rate Trends:
Increasing interest rates can motivate people to sell gold, leading to a higher supply in the market and potentially lower prices. Conversely, when interest rates are low, disposable income increases, boosting gold demand and consequently its price.
Influences on Gold Prices in Uttar Pradesh
Several factors contribute to the fluctuation of gold rates in Uttar Pradesh:
Government Gold Reserves:
Managed by the Reserve Bank of India (RBI), the government's gold reserves impact market prices. When the RBI increases its gold holdings, the price of gold typically rises due to a boost in market cash flow and a reduction in gold supply.
Impact of Inflation:
Gold is often used as a hedge against inflation due to its enduring value. High inflation generally leads to a rise in gold demand, thereby increasing prices, and the reverse occurs during low inflation periods.
Jewellery Market Demand:
Gold rates tend to surge during festive seasons like Diwali, Akshaya Tritiya, and wedding seasons because of heightened demand. This demand-supply imbalance can result in higher gold prices.
Global Market Trends:
International movements in gold prices also significantly affect the rates in Uttar Pradesh.
Interest Rate Trends:
Increasing interest rates can motivate people to sell gold, leading to a higher supply in the market and potentially lower prices. Conversely, when interest rates are low, disposable income increases, boosting gold demand and consequently its price.
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 Uttar Pradesh?
In Uttar Pradesh, the assessment of gold rates and purity follows the standards set by the Indian Bullion Association. Gold dealers in the state are required to hallmark their products, a mark that indicates the purity of the gold.
The gold prices in Uttar Pradesh are also influenced by international market trends. With India's limited involvement in gold mining, the impact of global market fluctuations on Uttar Pradesh's local gold prices is relatively less direct.
However, international factors, including global market events and trends, still significantly influence the gold market. These factors affect the purchasing capacity of gold importers and the wider public not only in Uttar Pradesh but across India as well.
In Uttar Pradesh, the assessment of gold rates and purity follows the standards set by the Indian Bullion Association. Gold dealers in the state are required to hallmark their products, a mark that indicates the purity of the gold.
The gold prices in Uttar Pradesh are also influenced by international market trends. With India's limited involvement in gold mining, the impact of global market fluctuations on Uttar Pradesh's local gold prices is relatively less direct.
However, international factors, including global market events and trends, still significantly influence the gold market. These factors affect the purchasing capacity of gold importers and the wider public not only in Uttar Pradesh but across India as well.
Necessary Documentation for Gold Investment in Uttar Pradesh
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 Uttar Pradesh
Key Points to Consider When Purchasing Gold Jewelry
When you're in the market for gold jewelry, here are several important aspects to be mindful of:
Wastage and Making Charges:
Jewelers typically include labor costs in the price of gold ornaments. These charges can vary from 7 to 25%, with an additional GST of 3% on the purchase price and 5% on making charges, calculated on top of the gold rate in Uttar Pradesh 916.
BIS Certification:
The Bureau of Indian Standards certifies gold quality. The hallmark on gold jewelry provides details about its fineness, and purity, and includes the jeweler's logo.
Purchase Bill and Buy-Back Terms:
Keeping a record of the purchase bill and understanding the buy-back terms are essential for ensuring ease of resale or liquidity. Many jewelers offer buy-back facilities and jewelry exchange based on weight, deducting making and wastage charges.
Online Gold Purchases:
While buying gold online is an option, it's crucial to purchase from reputable brands. Always verify the certificate of authenticity for physical gold and conduct due diligence on unfamiliar jewelry brands.
Avoiding Fake Gold:
Be cautious of imitation gold products in the market. Variants like 'city gold' or gold-plated jewelry are common due to their attractive pricing but lack the value of real gold.
Key Points to Consider When Purchasing Gold Jewelry
When you're in the market for gold jewelry, here are several important aspects to be mindful of:
Wastage and Making Charges:
Jewelers typically include labor costs in the price of gold ornaments. These charges can vary from 7 to 25%, with an additional GST of 3% on the purchase price and 5% on making charges, calculated on top of the gold rate in Uttar Pradesh 916.
BIS Certification:
The Bureau of Indian Standards certifies gold quality. The hallmark on gold jewelry provides details about its fineness, and purity, and includes the jeweler's logo.
Purchase Bill and Buy-Back Terms:
Keeping a record of the purchase bill and understanding the buy-back terms are essential for ensuring ease of resale or liquidity. Many jewelers offer buy-back facilities and jewelry exchange based on weight, deducting making and wastage charges.
Online Gold Purchases:
While buying gold online is an option, it's crucial to purchase from reputable brands. Always verify the certificate of authenticity for physical gold and conduct due diligence on unfamiliar jewelry brands.
Avoiding Fake Gold:
Be cautious of imitation gold products in the market. Variants like 'city gold' or gold-plated jewelry are common due to their attractive pricing but lack the value of real gold.
FAQs on Gold Rates in Uttar Pradesh
Where can I find the live gold rate in Uttar Pradesh?
Live gold rates in Uttar Pradesh are available on financial news websites, gold rate tracking applications, and at local jewelry stores.
What causes fluctuations in the live gold rate in Uttar Pradesh?
Fluctuations in gold prices in Uttar Pradesh are influenced by global market trends, currency exchange rates, and local demand-supply dynamics.
Do gold prices in Uttar Pradesh increase during festivals or wedding seasons?
Yes, gold prices in Uttar Pradesh often rise during festivals and wedding seasons due to increased demand.
How do international market trends affect gold rates in Uttar Pradesh?
International market trends, including shifts in global demand and currency valuations, significantly impact gold rates in Uttar Pradesh.
Are gold rates in Uttar Pradesh updated frequently throughout the day?
Yes, gold rates in Uttar Pradesh are regularly updated to reflect the latest market conditions.
Where can I find the live gold rate in Uttar Pradesh?
Live gold rates in Uttar Pradesh are available on financial news websites, gold rate tracking applications, and at local jewelry stores.
What causes fluctuations in the live gold rate in Uttar Pradesh?
Fluctuations in gold prices in Uttar Pradesh are influenced by global market trends, currency exchange rates, and local demand-supply dynamics.
Do gold prices in Uttar Pradesh increase during festivals or wedding seasons?
Yes, gold prices in Uttar Pradesh often rise during festivals and wedding seasons due to increased demand.
How do international market trends affect gold rates in Uttar Pradesh?
International market trends, including shifts in global demand and currency valuations, significantly impact gold rates in Uttar Pradesh.
Are gold rates in Uttar Pradesh updated frequently throughout the day?
Yes, gold rates in Uttar Pradesh are regularly updated to reflect the latest 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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