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Gold Rate in Lucknow (23rd January 2017)

The city of Lucknow has always had a rich tradition when it comes to investment in gold. The precious metal has been a favourite of residence of the city and has seen a surge in demand over the last few years.

Where to buy gold in Lucknow?

There are a number of places you can buy gold in Lucknow. However, you should check gold rates in Lucknow before buying. These places include Jhande Wala Park, Gole Market Chowrah, Amindabad, Indiranagar, Alambagh etc.

Today 22 Carat Gold Price Per Gram in Lucknow (INR)

Gram 22 Carat Gold
Today
22 Carat Gold
Yesterday
Daily Price Change
1 gram ₹ 2,817.90 ₹ 2,817.70 ₹ 0.20
8 gram ₹ 22,543.20 ₹ 22,541.60 ₹ 1.60
10 gram ₹ 28,179 ₹ 28,177 ₹ 2
100 gram ₹ 2,81,790 ₹ 2,81,770 ₹ 20

Today 24 Carat Gold Rate Per Gram in Lucknow (INR)

Gram 24 Carat Gold
Today
24 Carat Gold
Yesterday
Daily Price Change
1 gram ₹ 3,003.40 ₹ 3,003.30 ₹ 0.10
8 gram ₹ 24,027.20 ₹ 24,026.40 ₹ 0.80
10 gram ₹ 30,034 ₹ 30,033 ₹ 1
100 gram ₹ 3,00,340 ₹ 3,00,330 ₹ 10

Gold Rate in Lucknow for Last 10 Days (10 g)

Date 22 Carat 24 Carat
Jan 22, 2017 ₹ 28,179 ₹ 30,034
Jan 21, 2017 ₹ 28,177 ₹ 30,033
Jan 20, 2017 ₹ 28,178 ₹ 30,033
Jan 19, 2017 ₹ 28,348 ₹ 30,203
Jan 18, 2017 ₹ 28,346 ₹ 30,203
Jan 17, 2017 ₹ 28,208 ₹ 30,064
Jan 16, 2017 ₹ 0 ₹ 0
Jan 14, 2017 ₹ 27,940 ₹ 29,782
Jan 13, 2017 ₹ 27,989 ₹ 29,842
Jan 12, 2017 ₹ 27,858 ₹ 29,714

Weekly & Monthly Graph of Gold Price in Lucknow

Historical Price of Gold Rate in Lucknow

  • Gold Price Movement in Lucknow, December 2016
  • Gold Rates 22 Carat 24 Carat
    1 st December rate Rs.28,035 Rs.30,085
    31st December rate Rs.27,017 Rs.28,904
    Highest rate in December Rs.28,035 on December 1 Rs.30,085 on December 1
    Lowest rate in December Rs.26,458 on December 23 Rs.28,353 on December 23
    Over all performance Falling Falling
    % Change -3.63% -3.93%
  • Gold Price Movement in Lucknow, November 2016
  • Gold Price Movement in Lucknow, October 2016
  • Gold Price Movement in Lucknow, September 2016
  • Gold Price Movement in Lucknow, August 2016
  • Gold Price Movement in Lucknow, July 2016

A number of gold shops have flourished in Lucknow over the years. However, there are also very traditional shops, which have passed on from generation to generation. Most of these shops vouch for the purity and authenticity of the gold sold.

These are mostly family business, though we do not find many large scale corporate gold jewelers in the city of Lucknow.

Several jewellery shops are staggered, and we do find them in large concentrations in the city, wherein you can buy and check gold prices today in Lucknow.

How to buy gold in Lucknow?

You must check gold prices in Lucknow before you buy them. You can make enquiry with th many shops in the city. These days there are telephone numbers that many online directories provide. You can call as many jewelers. In the end do not call too many as it may lead to confusion.

The price differential may not be too large. However, it is best to check the gold rates in Lucknow from one shop to the other.  Do also remember to check goodreturns.in for an updated price of gold in Lucknow.

It is important to remember that before buying gold, you must ensure that it is hallmark. The Bureau of Indian Standards has earmarked many places, where you can check for hallmarked jewellery.

Also, before buying gold in Lucknow, make sure that you do not have gold allergies. Also insist for a receipt, which will show the date of the purchase, as well as the purity and the grammage.

This will help you to sell the gold, as and when you want. Any person buying the gold may insist on the receipt. So, do preserve the receipt of the same.  

916 gold rates live in Lucknow

It is extremely important to understand what 916 gold rates is when you buy gold in Lucknow. 916 is the usual 22 karats gold that we buy. If you want to buy 24 karats gold in Lucknow, it is obviously going to be a lot more expensive. There is a good 10 per cent difference in the price of 22 karats and 24 karats gold. In India that amounts to slightly less than Rs 2000. One thing that you must keep in mind is to check the purity, so that 22 karats gold is not ultimately sold to you as 22 karats gold. This is because when you sell the gold all of sudden it should not be that you get less money for the gold on the pretext of 22 karats.

How do gold rates in Lucknow move?

Gold prices in Lucknow move in tandem with gold prices in the international markets. The precious metal is traded, after which to the international prices is added excise and import duties, exchange rate conversion etc.

The movement of the rupee to the dollar in the forex markets, has an impact on the price of gold. If the dollar gains against the rupee, the precious metal will become cheaper.  On the other hand when it falls it becomes costlier. Also, look for the currency movement which also tends to affect gold prices. Gold rates in Lucknow today, do not forget to visit good returns.

Choices of buying gold in Lucknow

When it comes to purchasing gold in Lucknow there are a plethora of choices. Among these include the gold ETFs, 22 karats gold, 24 karats and gold bars. The gold bars is of course for those who have the money and generally for the high networth individuals in the country. On the other hand people who do not have the money can go for the 22 karats and the 18 karats gold. We also get lower karats or purity of gold, but one cannot be sure of whether these are available in Lucknow. If you want to buy the other varieties it is better to look for gold exchange traded funds. These are also popularly called gold ETFs worldwide and are the most famous of all the gold investment opportunities worldwide. However, this kind of investment maybe slightly complicated, but, you can talk to your broker, because it is like buying shares. You would need to have a demat account to buy gold ETFs. In case you do not have one, please go ahead and open one.

A check list for buying gold in Lucknow

Before buying gold in Jaipur check and compare the prices with every possible jeweller in the city. The second important thing to do is take a note of the making charges. Apart from this do ask if the concerned jeweller is selling hallmarked gold in Lucknow. If he is not, then you might want to skip buying and move to somebody who sells hallmarked gold in the city. There is no way you will not find hallmarked gold in the city. There are many important steps that you must remember, the other is that we should always remember to time the market well. If you find prices have gone too high go ahead and sell. What goes up will finally come down and you will finally get a change to buy all over again. Remember, gold is gold and in the long term the precious metal would always give you decent returns.

Understanding exchange risk fluctuations in gold

If you are a buyer of gold in Lucknow, there are a few things that you should not determine the prices of gold. One of the most important of these is exchange rate fluctuations. As we all know that gold in India is imported through banks who have to pay the importers in dollar. So, if gold is imported today at 67 to the dollar and yesterday it was imported at 66.90 to the to the dollar, gold rates will go higher in Lucknow, because the rupee dipped against the dollar today. We are assuming that all other things like international gold prices and duties remain the same. So, in short the rupee must not fall against the dollar or else you will end-up paying more for gold. Of course, that does not mean that you start monitoring gold on a daily basis. Ultimately what counts is to directly monitor the prices of gold. If you feel gold rates in Lucknow have fallen it maybe a good time to buy into the precious metal. Seek professional advise if needed.

Be careful when selling your gold in Lucknow

If your are looking to sell your gold in Lucknow, it is time to be cautious. This is because there are many companies who will buy your gold and there is a question of the amount they will deduct and pay you. Let us say there are some precious stones in your jewellery. What is the price that they are going to pay you for that. Is there a professional person who can really evaluate the value of that precious stone. How would they pay the individual. Cash transactions on large scale sale of gold, could raise many questions by many authorities. So, unless you are in desperate need of money, make sure that you do not sell gold in Lucknow. Of course, there is a high possibility that you may need to sell some useless stuff, which is broken. But, you can buy another ornament in place of this, if there is a need. You will get the price for the broken piece of gold.

Look at gold ETFs as well

Gone are the days when your choices of buying gold were limited to jewelry, gold coins and gold bars. Today, in Lucknow you can also look at other options like gold ETFs.

Gold ETFs offer you many advantages like there is no need for you to rush to the bank, to deposit the gold, as they are traded in electronic form.

In Lucknow as well, you can buy gold etfs. The beauty of these Gold ETFs is that they can be easily sold as and when required. Since they are in the electronic form like shares, it is very easy to sell the same.

The taxation on these instruments is the same as that for physical gold. You can pay long term tax on sale of gold, as well as short term capital gains tax on gold. If you are looking to buy gold etfs in Lucknow, talk to your broker, who maybe able to give you suitable advise.

Why to look for these quality parameters in Lucknow?

If you are looking at gold quality parameters, or as we all know what is more often called purity of gold, you should look for gold that is branded. Remember, that you do get what is called hallmarked gold in the city. So, stay focused on buying only this variety of gold in the city. The question that arises is: Where do I get hallmarked gold? The answer is simple: you need to visit the BIS centres and see if there is any essaying centre, that will help you to buy hallmarked gold in the city of Lucknow. Remember, it is easy to get duped with gold that is not in the purest form. In the past, there have been instances of consumer complaining that the quality of gold was adulterated or impure. Today, it is very much possible to get that kind of gold in India, which means you need to be very careful. The precious metal becomes impure when it is mixed with a host of other alloys or metals. This is because gold cannot be used to make jewelry by itself as the metal is very brittle. Hence, it needs to be mixed with other metals, so as to ensure tensile strength or to ensure that the gold jewelry does not break. This is why it is mixed with a host of other metals. Bt, mixing it in an abnormal ration, will mean that the quality of gold very much gets diluted. So, be careful and check before you buy.

Demand for gold in Lucknow

Gold demand on Lucknow has constantly been on an upswing in the recent years. This has led to good demand for the precious metal in the last few years. In fact, since international prices have gone up sharply, gold price in Lucknow have almost tripled in value since 2008. If you are a big investor in gold, it maybe a good idea to keep the faith in the precious metal. Gold has withstood the test of time and there is no reason to believe that gold prices in the next few years will not rally. It is likely that we may see an improved price environment for the precious metal in the days to come. However, one has to makee sure that one is buying the precious metal keeping in mind a more long-term objective. it is extremely difficult to make money if you have a short term objective.

Another important thing that you must note when you are buying gold in Lucknow is that you must but hallmarked 916 gold only. This will ensure that you have the highest level of purity for the precious metal. Look for buying the precious metal only on declines. The current rate in Lucknow of around Rs 27,000 for 22 karats is not a bad bet to gold for the more long term.

Myriad choices to buy in Lucknow

If you are looking to buy gold, of course you should first look at the various choices that you have. Many suggest that the best way to buy gold in Lucknow is the gold ETFs. Now, that gets a little complicated for the layman and it always difficult to understand what these gold exchange traded funds mean. So, if yiu do not have a demat account, it is impossible to but these ETFs. So, in Lucknow you should look for the usual gold coins and bars. However, if you are investing you look for those mentioned, but, if you have a marriage or any other occassion, you cannot look beyond gold jewelry. Large amounts of these should not be bought into. In Lucknow, you get the best designs and patterns of gold ornaments. In fact, the city has always been known for excellent crasftmanship on jewelry.  However we wish to emphasize as we have done time and again that you have to tae measures to ensure that the gold you buy is of the utmost purity. So, if you are buying 22 karats gold it should be of 916 and 24 karats of 99.9 per cent purity. Remember, if you have doubts on purity in Lucknow go for the hallmarked gold only.

Taxation on gold in Lucknow

Remember, if you are buying gold in Lucknow, you must also know the different aspects of taxation on the precious metal in the city. First, there is no income tax, because gold does not give you any income like dividend or interest. So, the tax that you pay on gold is capital gains tax. Let is give an example. If you buy gold at Rs 20,000 and sell the same for Rs 30,000, you pay tax on the profit of Rs 10,000. that is you pay on the profits only. Suppose you make losses in one particular year. In that case, what you can do is set off the losses, against profits of the next year. Remember, short term capital gains will apply if you sell the precious metal before three years and long term capital gains will apply if you sell the same after that period. There is also a wealth tax that you have to pay and this has to be kept in mind before investing.

 What is in store for gold rates in Lucknow in 2017?

This is always a tricky question to answer and very few people would know the answer to the same. If you are an investor of gold in Lucknow, you need to be a little careful. It is always a good proposition to exercise a caution. But, the question is: How do you exercise caution. You exercise caution with buying gold in small quantities in Lucknow. Let us give an example. If you have Rs 1 lakh and want to buy gold, you can buy it in small quantities of 10 gram each. Every 10 the price falls, you get to buy the precious metal at lower rates. So, in short when buying gold, make sure that you do not throw caution to the wind.

Factors affecting gold rates today

Today, a host of factors tend to support or lend support to gold rates. The biggest of the factors influencing gold rates today in Lucknow are geo political tensions. When the world witnesses political turmoil, gold tends to gain momentum. However, these events are very few and do not happen all of the time. This is why analysts often recommend buying gold as a hedge against bad times. If you have not invested part of your money in gold, it is time you add some money by investing in the same.  It is an excellent hedge in bad times. This is why individuals advise not to put alll your eggs in one basket and diversify your portfolio. Parking in small amounts in gold, can hold you in good stead in the years to come.  We wish to emphasize that if you are buying gold, keep a view of at least 6-7 years. This is because longer the time frame for investment, better is the chances of making money in the precious metal.

Understanding wastage charges in Lucknow

Lucknow is the largest city in north India and is also the capital of the state of Uttar Pradesh. Lucknow is also one of the major metropolitan cities in India.

If you are buying or making any jewelry or gold ornaments here are few things you must keep in mind, so that you are not fooled by the gold merchants. Those charges are making charges, wastage charges etc. So it will be better to have a very good understanding so that while you are buying you can have a clear idea are you getting for what you are paying.

Most individuals in Lucknow sell or modify their old model jewelry to make new model jewelry. It will be better to go for a reputed as you can find better models from reputed shops or jewelry merchants and also they give offers such as zero making charges and wastage charges.

Before you buy gold in Lucknow its better to check gold rates in Lucknow on goodreturns.in

 

 

Latest Updates on Lucknow Gold Rates

Gold rates Lucknow stay flat

Lucknow gold rates were more or less in line with the broad markets and were seen sustaining at higher rates. Gold prices in Lucknow on Jan 12, 2017 were seen trading at around the same levels as the previous day and were around Rs 27,333 per 10 grams. 24 karats gold prices almost moved higher in the city, as there is a tendency to always move in line with gold prices in the other cities. If you are an investor, who loves to buy into gold, you can do so on declines, which would help you eventually make money. We are saying this because gold prices have always helped investors to make money over a longer period of time and that trend is likely to remain. Hence, if you are a long term investor in gold, it makes sense to buy into the precious metal.

12 January 2017
Lucknow gold prices slightly firm

Gold prices in the city of Lucknow were trading slightly firm, as investors turned their attentio globally from equities to gold. The dollar has been losing ground against many currencies marginally, which also led to some buying in gold. Lucknow gold prices today, move in tandem with prices across the globe and hence this also moves gold prices. If you are a long term investor, it would be a good opportunity to buy in small amounts in Lucknow. We wish to state that periodic buying may lead to the average costs coming lower, when prices are declining and higher when prices are falling.

5 January 2017
Gold rates in Lucknow hold steady

Gold prices in the city of Lucknow were trading steady with 22 karats gold per 10 grams, marginally lower by Rs 6 over the previous day. Gold prices for 22 karats was last seen trading at Rs 26,650 per 10 grams. 24 Karats gold rate in Lucknow on Jan 2, 2017, was trading at Rs 28,854 per 10 grams. It is unlikely that we will see  great deal of movement in prices of the precious metal. Those willing to take a risk can buy into the precious metal at lower rates. One can invest at every decline. In fact, if you are looking to buy into the metal, now may not be a bad time.

2 January 2017
Gold rates little changed on December 24

It was another dull and boring day of trade for gold prices in Lucknow on December 24, as prices largely remained very flat. In fact, we have seen very little tractions for the precious metal and we do not see too much of enthusiasm for gold as we move along. Gold for 22 karats was trading at Rs 26,750 per 10 grams in the city, as investors largely bought at higher levels. In fact, if you feel that gold in Lucknow can generate returns, you should be investing in the metal on every decline. We believe that it is very much possible that gold would generate decent returns for investors from more of a short to medium time frame. However, you need to be a little patient while buying into the precious metal, as it is highly possible that there maybe temporary declines. In the long term the precious metal has always given returns that have truly been good.

24 December 2016
Gold prices stay steady

Gold rates in Lucknow were holding ground and were little changed over the rates seen on Thursday. Gold for 22 karats was seen trading at Rs 26,650 per 10 grams in the city of Lucknow. The steady trend is likely to prevail and we may see gold prices hovering around the same levels in the next few weeks.

23 December 2016
Gold rates Lucknow stay steady

Gold rates in Lucknow on December 22 took cues from weak sentiments prevailing across Asia and the international markets and fell in line with other markets. Gold for 22 karats was last seen trading near the Rs 27,000 level, while most cities like Mumbai also saw a drop in their prices. This was the second straight day of decline for prices in Lucknow. Todays gold rates in Lucknow also reflected a strength in the dollar, which has largely gained ground against a hot of currencies. It is unlikely that we will see too much volatility in gold prices in Luckow in the coming days. If you want to buy with a one year perspective in mind, it maybe a good idea to buy into the metal.

22 December 2016
Gold rates flat in Lucknow

It was a flat day of trade for gold in Lucknow, as investors were unwilling to make a commitment to buy into the precious metal even on declines. This was after gains seen on Friday and Monday in the metal. It is unlikely that gold in Lucknow would see a dramatic recovery until the end of the year 2016. Hence, if you are looking to buy, it would be a good idea to wait and buy the precious metal in the early part of 2017. Who knows, you may end-up getting very good prices.

21 December 2016
Gold prices decline in Lucknow

Gold prices in Lucknow dropped as those consumers who were planning to buy waited for prices to recede. Gold for 22 karats in Lucknow fell to Rs 27,300 per 10 grams last week. It is likely that we are to see prices declining even further. If you have the money, keep it ready to mop-up when gold rates in Lucknow falls even further. In any case this year we have seen a rally in prices in the first half of 2016 and a subsequent decline in the second half for gold rates. We may see a little lower levels but the precious metal may not decline below Rs 26,000 per 10 grams.

19 December 2016
Price of the precious metal falls in Lucknow

Gold prices in Lucknow capped a very poor week, with the precious metal falling through the entire week. In fact, in the international markets it was a 6 straight week of losses for gold. For those who invested in gold a few weeks ago it is not good news. On the other hand for those who want to buy gold in Lucknow, it maybe a good time to buy. 22 karats may continue to see the best demand on December 17, 2017. Those looking at 24 karats could also buy the precious metal on decline. However, make sure that you check the prices of gold before buying.

17 December 2016
Gold prices retreat

Gold prices in Lucknow on December 16 saw a drop, as investors sold heavily into the metal overseas following the decision of the U Federal Reserve to hike rates in the US. Gold prices in the city of Lucknow were down about 2 per cent, following the harp decline overseas. Nobody likes to predict how far prices would go, though there are hopes that there could be a sharp rally in prices. Technically too the precious metal seems to be in an overbought zone and could see some technical buying support. In the international market gold per ounce dropped to $1144, which was a 10-month low.

16 December 2016

Disclaimer: The gold rates are sourced from local jewellers in the city. There maybe variance in rates and prices. GoodReturns.in has made every effort to ensure accuracy of information provided; however, Greynium Information Technologies Pvt Ltd, its subsidiaries and associates do not guarantee such accuracy. The rates are for informational purposes only. It is not a solicitation to buy, sell in precious gold. Greynium Information Technologies Pvt Ltd, its subsidiaries, associates do not accept culpability for losses and/or damages arising based on gold information provided.

 
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