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Gold Rate in Patna (28th June 2017)

Patna is the capital of the state of Bihar and an important centre from which we have a good demand for the precious metal. It is a good idea to check gold prices in Patna for 22 karats live, before you buy gold in the city.

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

Gram 22 Carat Gold
Today
22 Carat Gold
Yesterday
Daily Price Change
1 gram ₹ 2,800 ₹ 2,820 ₹ -20
8 gram ₹ 22,400 ₹ 22,560 ₹ -160
10 gram ₹ 28,000 ₹ 28,200 ₹ -200
100 gram ₹ 2,80,000 ₹ 2,82,000 ₹ -2,000

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

Gram 24 Carat Gold
Today
24 Carat Gold
Yesterday
Daily Price Change
1 gram ₹ 3,054.50 ₹ 3,020 ₹ 34.50
8 gram ₹ 24,436 ₹ 24,160 ₹ 276
10 gram ₹ 30,545 ₹ 30,200 ₹ 345
100 gram ₹ 3,05,450 ₹ 3,02,000 ₹ 3,450

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

Date 22 Carat 24 Carat
Jun 27, 2017 ₹ 28,000 ₹ 30,545
Jun 26, 2017 ₹ 28,200 ₹ 30,200
Jun 24, 2017 ₹ 28,100 ₹ 30,100
Jun 23, 2017 ₹ 28,140 ₹ 30,097
Jun 22, 2017 ₹ 28,600 ₹ 31,195
Jun 21, 2017 ₹ 28,550 ₹ 31,145
Jun 20, 2017 ₹ 28,610 ₹ 31,210
Jun 19, 2017 ₹ 28,100 ₹ 30,655
Jun 17, 2017 ₹ 28,750 ₹ 31,360
Jun 16, 2017 ₹ 28,770 ₹ 31,385

Weekly & Monthly Graph of Gold Price in Patna

Historical Price of Gold Rate in Patna

  • Gold Price Movement in Patna, May 2017
  • Gold Rates 22 Carat 24 Carat
    1 st May rate Rs.28,461 Rs.31,048
    31st May rate Rs.27,650 Rs.30,163
    Highest rate in May Rs.28,900 on May 4 Rs.31,527 on May 4
    Lowest rate in May Rs.27,080 on May 8 Rs.29,541 on May 8
    Over all performance Falling Falling
    % Change -2.85% -2.85%
  • Gold Price Movement in Patna, April 2017
  • Gold Price Movement in Patna, March 2017
  • Gold Price Movement in Patna, February 2017
  • Gold Price Movement in Patna, January 2017
  • Gold Price Movement in Patna, December 2016

How Gold Rates in Patna Move?

Live gold rates movement in Patna, depend on a host of factors, the biggest of these being international gold prices. This in turn depends on how the dollar moves against the rupee, inflation rates and interest rates movement. However, for those buying gold in Patna, one of the top factors to reply upon would be the gold prices along with other things like making charges.

Today, one must remember that making charges of gold could be as high as 10 per cent of the value of the gold jewellery. Therefore, it becomes a necessity to check gold rates in Patna along with making charges, before you buy into the precious metal. Another important factor to keep in mind while making the purchases is that you take a receipt for the gold that you buy. If you wish to exchange the gold at a alter stage, the receipt would hold you in good stead.

Places to Shop for Gold in Patna

There are a number of places to buy gold in Patna. For example, there is the popular Tanishq showrooms where you can shop for the precious metal. P C Jeweller the renowned chain also has a shop at Boring Road in Patna. In Fact, there are a number of shops at Boring Road in Patna where you can buy gold jewellery. Interestingly, most of these jeweller shops in the city sell 22 karats hallmarked gold. We are stretching on the need to buy hallmarked gold because these are always considered as pure gold.

Hidden Charges When Buying Gold In Patna

There are few hidden charges on gold, so if you have plans to buy gold jewellery in Patna, it is better to know these charges, which are called making charges, wastage charges etc. So for not letting jewellers to fool us its better to have a good understanding about such kind of charges.

Few jewellers in Patna give offers that they will not add any wastage charge but without any intimation they increase the making charges 20% to 30% depending upon the jewellery.

Mostly individuals in Patna sell their ancestral jewelry or old model jewellery to make new model jewellery. At that time it is better to go for some reputed jewellery merchants or shops than going to a gold smith. Reputed jewellers will give offers such as zero making charges and wastage charges. Mostly importantly they will provide you a detailed bill.

Most of the reputed jewellers will be in the committe who fix gold rates in Patna.

Reputed jewellers use computerized testing due to which they don't need to melt your jewellery for testing and will give great offers due to which you can get the satisfactory exchange for your old or ancestral jewellery. Before selling or buying you must know what is the price of gold in Patna. To check the best gold price in Patna visit goodreturns and check for goldrates in Patna.

Who fixes gold Rate in Patna?

In every city gold rates is fixed by an association. Mostly they will be the top jewelers in the particular city and the tend to help and provide all kinds of association to their members. They jointly fix the gold rates everyday. There is an association in Patna as well to fix gold rates in Patna.

The factors that are considered to fix the gold price in Patna are few local conditions and as well few global conditions. Local conditions are as local levies, transportation charges and for other duties, there are different prices in every city. These are the reasons which brings a slight difference in gold rates city to city and which forces the associations to arrive at one final price for each city.

Actual things that affect gold rates in Patna are the global conditions which bring huge differences in gold rates day to day. Gold rates are also determined based on the MCX (Multi Commodity Exchange of India Ltd) futures prices and the other is currency moment. MCX futures are an independent commodity exchange based in Indi. It offers futures trading in bullion, non-ferrous metals, energy, and a number of agricultural commodities by basing those numbers there will be a lot of change in gold rates and also the moment of currencies world-wide affects the gold rates in Patna.

How to invest in gold in Patna?

There are various options for investing in gold in Patna and few of them are as follows:
The most popular ways are:
1. Buying gold directly in the form of bars or coins.
2. Buying or investing in shares in a company that produces gold.
3. Investing in gold futures and options.
4. Investing in gold ETFs.

Buying gold directly in the form of bars or coins is one of famous forms of investing in gold most individuals invest in physical form because there is one very big advantage of investing in physical form that is one can take a gold loan against the physical gold in banks as well as NBFC's (Non Banking Financial Services).

Buying or investing in shares in a company that produces gold is a smart method of investing one can invest in companies such as Barrick Gold, Newmont Mining, AngloGold Ashanti and etc. Their profit and loss are completely based on gold rate changes. So investing in these companies means investing in gold.

Investing in gold futures and options is one of the methods of investing in gold. Excluding the physical form, all the other remaining methods are investing on gold in electronic form including gold ETF.

Is Gold a Bad Investment in Patna?

In some cases it is yes, because firstly gold is not as productive as fixed deposits or dividends or real-estate. Safety of gold is also a problem when it comes to investment in the physical form of gold. But for ETF's that is not an issue.

Even Investment in gold is not a tax friendly method, As one has to pay capital gains tax if they are earning profits by investing in gold. which will reduce your returns.

In last few years gold has gone up by due to the fluctuations in the value of US Dollar against rupee which may or may not happen in future.

Even selling physical gold is not an easy thing to day. There are banks where we can buy gold coins or bars but can't sell them back not only banks there are few jewelers where we can buy or exchange but cannot sell the jewelry. Even if some jewelers buy but they may pay you less than the gold rates in Patna on that day.

By being aware of tax implications and expecting returns reasonably one can go for investing in gold. Because is an asset which acts as a hedge during situations such as economic breakdowns or Inflation.

The relation between stock market and gold prices in Patna?

Ups and downs in stock market are due to lot of reasons but economic conditions plays major role. There is a relation between economy and gold rates in Patna as well. Gold rates in Patna is inversly proportional to the economy. So we can say gold rates in Patna are inversly proportional to the Stock Market.

Economy is based on currency and stock market reflects how our nation's businesses and corporations are working. If the stock market is good or bullish which means that the businesses and corporations are working well. If the market is bearish means the stock market is'nt working well as simple as that.

If the the stock market declines due to recession or any other cause, the investors start looking for something to safe gaurd themselves in such conditions.

Most of the investors know that Gold is the perfect hedge in such conditions and always keep 20 to 30 per cent of gold in their portfolio as refugee.

Gold maintains it's value as it is not subject any kind of systematic risk as the stock market faces. So whenever there is a market decline, stocks moves downward at that time gold becomes more desirable.

What are the parameters in a bill on gold jewellery in Patna?

It is very important to take a bill for the gold jewellery you are buying in Patna because if you want to exchange or sell your gold jewelry in future this will help a lot as it is the proof how genuine is the gold jewelry you are buying. So, you must be checking few parameters while buying gold jewelery.

1. Check if the date is on the bill.
2. What is the variant of gold jewelry you are buying. Gold jewelers will have a different set of alphabets and number for every variant of jewellery they are selling.
3. Product Type - Product type describes what is the jewel you are buying such as a ring, ear rings, bangles, necklace etc.
4. Quantity - This parameter explains the number of jewels you are buying like if you are buying two bangles then it will show quantity as two.
5. Price - This parameter explains the price of the jewel will be as per the gold rates in Patna on that day.
6. Gross weight - It describe the weight of the jewel. Mostly which will be in grams.
7. Making or Wastage charges - This parameter explains the wastage or making charges but few reputed jewelers don't charge this.
8. Taxes - Taxes parameter explains different taxes such as VAT and Sales Tax etc.
9. Total Amount - This is the final price which you will be paying.

The impact of heavy investment in gold in Patna?

There will be a negative impact on the economy because of the heavy buying of gold in Patna. As the money which is spent on a commodity such as gold become immovable that stops the growth of the economy. The impact of heavy purchasing gold in Patna can be explained by the occurrence of certain events.

Due to heavy investment in gold, the demand for designing gold jewellery will get affected.

Currency value will be affected indirectly due to the large investment in gold. As India is not manufacturing gold much, the consumer needs the government to bring it from foreign countries. This cause loss to India because gold is a non-productive and wealth yielding asset.

If individual investors continue to invest in gold. It will reach a point where the demand will stop raising and seep down. Then the bullion owned by the government will become cheap, and it will not be enough to trade on.

So investors should start investing smartly by spending money on multiple things. For example, 30 per cent should be invested in gold, 60 per cent on stocks and remaining on mutual funds.

What happens to damaged gold jewelry in Patna?

Damaged gold jewelry can be exchanged or sold which is not a big deal. One can visit the jeweler in their neighborhood and can sell it. There are few jewelers who buy ancestral gold jewelry or damaged gold and make new models by using gold in it and sell it for higher rates then they bought. Normally most of the ancestral gold jeweler will not have few parameters which represent the genuity of the gold ornament.

If you don't have these few parameters you can sell your damaged or ancestral gold ornaments but not as per gold rates in Patna on that day. The chances are very high that you will get less money than the gold prices in Patna on that day.

The first thing that should be available on that ornament is BIS hallmark. Without BIS hallmark most of the jewellers won't buy. As it the proof for the Genuity of the gold given by the government. If BIS hallmark is not available jewelers do the few tests on jewelry due to which jewelry can be damaged. Even the jeweler would charge you for testing the jewelery.

Bill is also a very important parameter, you may have a bill for damaged gold jewelry but for most ancestral jewelry one will not have a bill.

Latest Updates on Patna Gold Rates

Gold price in Patna to gain Momentum

Gold in Patna is to gain momentum after the Federal Reserve Chair Janet Yellen speech. Investors are holding steady and waiting for speech so that they may get some clues about the Fed interest rate hike in 2017 again. Already Yellen has given a hint that the Fed is to increase the interest rate again this year. After the discussion on global economic issues at London's Royal Academy, the chances are high that the gold price in the International Markets may gain momentum. Any momentum in the gold prices in global Markets will bring momentum in the gold prices in Patna as well.

As of now, 22 karats Gold price in Patna is trading at Rs 28,200 per 10 grams, and 24 karats were trading at Rs 30,200. Depending upon the Yellen speech gold price in the Global Markets is to move. In the International markets, Spot gold rose by 0.1 per cent and is trading around $1,244 per ounce. So today there are chances that the gold price in Patna may also rise.

27 June 2017
Gold rates in Patna edge higher

Gold prices in Patna went flat and are set to rise due to few global factors. 22 karats Gold rates in Patna which were trading around Rs 28,600 and 24 karats around Rs 31,200 a week ago have dropped down to 22 karats and is trading at approximately Rs 28,200 and 24 karats at Rs 30,700, due to the US Federal Reserve interest rate hike. The fall in oil markets to seven-month low pushed precious metal prices higher in the International Markets. When there is some uncertainty in the global markets, the gold prices goes up. This is because most of the investors take shelter in gold in such conditions.

Not only gold, other metals such as silver, palladium in the International market is also up as of now. Spot gold went up 0.3 per cent and is trading around $1,246 per ounce. Spot silver rose 0.2 percent to $16.50 per ounce. On MCX, Both gold and silver moved up, Gold is up by nearly Rs 80 and is trading at 28,605 and Silver is up by Rs 57 and is trading at 38,122.

21 June 2017
Gold Price in Patna slips

Gold prices in Patna slipped as metal prices fell globally. Gold for 22 karats in Patna is to trade at lower levels. There are chances the price of gold in Patna may go below Rs 28,000 mark. If the trend continues, there are chances that we may see the lowest prices in Patna. There is some increase in buying for the precious metal due to the reduction in the GST on Gold Jewellery making.

If you are a long term investor and planning to invest in the precious metal on declines, then you can invest now, as prices are at very low levels. The drop in gold prices in the global market always has an impact on gold prices in Patna. For the one who are planning to buy gold jewelry, this will be an excellent opportunity as the price of gold in Patna is less and also the GST on Gold Jewellery Making is reduced.

19 June 2017
Flattish trend continues in Patna

Gold in Patna closed flat this week. This week gold rates in Patna opened a little above Rs.28,000 and reached around Rs.28,300, and now there are chances that the gold prices in Patna may open next week below Rs.28,000 mark. The UK election outcome, Improving Economic Data in U.S. and James Comey's Congressional testimony have some affect on the gold prices in Patna. These factors have boosted the Dollar, and the Dollar is up by 0.44 percent now. The up in the dollar affected not only gold but also commodities such as silver. Internationally Silver is down by 0.86 percent and is trading around $17.00 per ounce, and Spot gold is down by 0.77 percent around $1,269.00 per ounce. On MCX, Gold is down by Rs.112 and is trading at Rs.29,019.00 per 10 grams, and Silver is down by Rs.-356.00 and was trading at Rs.39,694.00 per Kilogram. This trend may continue for the next week as well. So, the investors can now keep their investments on stocks.

10 June 2017
Gold Rates in Patna at a week's low

Gold rates in Patna at week's low due to the strong dollar. Spot gold dropped by 0.3 percent around $1,262.00 per ounce. This week 10 grams for 22 karats gold rates were at Rs 27,800, and 24 karats were trading at Rs 30,200. Due to many international factors, gold traded flat this week and closed 22 karats at Rs 27,500 and 24 karats gold rates at Rs 30,000.

One who is planning to buy gold schemes this may be the right time to start investing in. Various jewelers are offering various schemes there are ggod especially, the few yearly schemes given by top jewelers where you can buy gold in grams every month, and you can buy some jewelry after the end of eleven months. You can go for such schemes, and all you need to do is follow gold rates in Patna and gold news around the world which you can follow on goodreturns.in and invest every month whenever the gold prices in Patna are down.

2 June 2017
Gold Rates in Patna to remain unchanged

Gold rates in Patna are likely to remain unchanged at above eight-week low. As the U.S. dollar and stocks firmed and spot gold remained unchanged at $1,220.00 per ounce. 22 karats Gold rates in Patna were trading around Rs 27,000 and 24 karats were Rs 29,500. Investors in Patna who invested in gold while the gold rates were down, need to hold on to gold for some more time as the chances are less to see any sharp rebound in the gold prices in Patna shortly.

The investors who are interested in pulling their money from stocks and planning to invest in the precious metal need to hold on to stocks for some more time. As the gold rates can more likely to go down below 27,000 than rising. Whereas as for long-term investors may be this is a good time to invest in, as they can expect good returns in long term if thet are investing in gold now

11 May 2017
Gold Moved up after French elections

On Tuesday after Emmanuel Macron's victory gold near a seven-week low. As the Asian markets were also restrained. After touching a seven-week low of 1,224, now Spot gold was up by 0.1 percent, and it is at $1,227 per ounce. The international trend for gold prices will show some affect on Gold rates in Patna. As we know, the gold value in the international markets hit a low and now slowly picking up as the demand for the precious metal is going down.

The gold prices in Patna are not so low when compared to other cities as the gold rates in every other city will be different as they are influenced by factors such as various duties and taxes. As the investors are now interested in placing their bets on stocks than on the precious metal. So the chances are less to see the momentum in gold. This interest of the investors will result in gold prices falling and share prices going higher.

9 May 2017
Gold rates Patna below Rs 28,000

Gold rates in Patna were trading below the Rs 28,000 mark, which was the same trend that was prevailing in other cities. The rates in the city take cues from gold prices across the world and other Indian cities. On Wednesday gold prices in Patna were trading at levels of Rs 27,813 per 10 grams, which was more or less higher then the previous week. In the last week, gold prices in Patna dropped as the rupee moved higher against the US dollar. We might see a similar trend in the net few days, as investors will buy on declines. Since the start of the year, gold prices in patna have seen immense activity thanks to the lower prices that were prevailing. We believe that prices could strengthen going foward, which is when there maybe some lower demand for gold in the city of Patna. Until then investors should continue to keep their faith and buy into the precious metal. In fact, we might see some stability in prices for gold. Those who are having a very long-term view could look at buying into the metal on declines. This could be on the similar lines as SIPs, where investors buy into small quantities of gold.

23 March 2017
Gold rates in Patna set to rise on January 23, 2017

Gold rates in Patna are set to open higher on January 23, 2017, as investors will buy into the precious metal on declines. Gold prices in Patna are seeing a sustained rally as investors buy into the precious metal on declines. The precious metal which saw a good decline in the month of December has seen a good rally this year. It is likely that we may continue to see buying at lower levels. The city of Patna has also been seeing good demand since the beginning of the year. However, when there is a sharp rally its is likely that we may see some fall in the demand for the precious metal. On January 23, 2017, there maybe some reaction to the election of Donald Trump as the US President, we have to see how far that goes. Sometime if that reaction goes to far, we may see the demand fof gold in the city increasing.

22 January 2017

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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