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Gold Rate in Bhubaneswar (9th July 2020)

Jul 9, 2020
4,718 /Gram(22ct) 40

In Odisha, most of the people are fond of buying gold. People from all classes in odisha are so active in buying gold and they use to wear and gift in numerous festivals, family functions & marriages. You need to always check gold rates in Bhubaneswar the capital city of Odisha, which has the best gold prices you would get in any city.

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

Gram 22 Carat Gold
22 Carat Gold
Daily Price Change
1 gram 4,718 4,678 40
8 gram 37,744 37,424 320
10 gram 47,180 46,780 400
100 gram 4,71,800 4,67,800 4,000

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

Gram 24 Carat Gold
24 Carat Gold
Daily Price Change
1 gram 5,146 5,099 47
8 gram 41,168 40,792 376
10 gram 51,460 50,990 470
100 gram 5,14,600 5,09,900 4,700

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

Date 22 Carat 24 Carat
Jul 9, 2020 47,180 400 51,460 470
Jul 8, 2020 46,780 370 50,990 370
Jul 7, 2020 46,410 310 50,620 -90
Jul 6, 2020 46,100 -140 50,710 -140
Jul 5, 2020 46,240 10 50,850 10
Jul 4, 2020 46,230 -40 50,840 -40
Jul 3, 2020 46,270 -60 50,880 -60
Jul 2, 2020 46,330 -410 50,940 -10
Jul 1, 2020 46,740 470 50,950 470
Jun 30, 2020 46,270 -180 50,480 -180

Weekly & Monthly Graph of Gold Price in Bhubaneswar

Historical Price of Gold Rate in Bhubaneswar

  • Gold Price Movement in Bhubaneswar, June 2020
  • Gold Rates 22 Carat 24 Carat
    1 st June rate Rs.45,120 Rs.49,220
    30th June rate Rs.46,270 Rs.50,480
    Highest rate in June Rs.46,450 on June 29 Rs.50,660 on June 29
    Lowest rate in June Rs.44,270 on June 6 Rs.48,350 on June 6
    Over all performance Rising Rising
    % Change +2.55% +2.56%
  • Gold Price Movement in Bhubaneswar, May 2020
  • Gold Price Movement in Bhubaneswar, April 2020
  • Gold Price Movement in Bhubaneswar, March 2020
  • Gold Price Movement in Bhubaneswar, February 2020
  • Gold Price Movement in Bhubaneswar, January 2020

Where to Buy Gold in Bhubaneswar

One of the reputed home growth gold jewelers in the state of Odisha is Khimji Jewellers.

The company has showrooms in not only Bhubaneswar, but, also Cuttack and Rourkela. The outlet boasts of necklaces gold rings, gold pendants, earings etc. If you are looking at 22 karats and 24 karts, you can buy all of these in the cit of Bhubaneswar. Apart from this you can check todays gold rates in Tanishq through the company's showrooms. Lalchand jewellers Bhubaneswar can also provide you gold rates in the city.

22 Karats Gold in Odisha vs 24 Karats

We often receive queries whether one should buy 22 karats or 24 karats gold in Odisha. In fact, you can buy both of these. The simple explanation is this: If you are buying gold coins just go for the 24 karats gold in Bhubaneswar. On the other hand if you are buying 22 karats, you have to buy it in the jewellery form, because gold being brittle tends to break when made into jewellery.

Apart from this you have a number of choices to buy gold in Bhubaneswar. These include the popular gold coins. And, we wish to emphasize one thing for our readers. If you are investing in gold, make sure you are not investing in gold jewellery. This is because when you want to sell the precious metal all your making charges paid go down the drain. So, the better option is to buy gold coins which can be easily sold. Whether you buy 22 karats or 24 karats is your choice.

 Is a monthly gold investment scheme good or bad in Bhubhaneshwar?

Monthly gold Investment schemes are one of the most common schemes run by jewelers in Bhubaneswar. Mostly this scheme will be like the jeweler will be giving you almost 8% additional gold to your contribution.

As the gold rates in Bhubaneswar is changing everyday these schemes may help but one needs to look into few things before you go for these schemes

These Monthly Gold Investment scheme giving companies will have very strict rules and regulations so it is better you should read and understand very clearly what are those. So that you may not lose your money.

Let's assume you are paying Rs 2000 every month on a specfic date as given by the jeweller for 6 months, for a one-year gold investment scheme and if you miss to pay the 7th installment on time, your scheme will lapse and you will not get your money back which you paid for last 6 months or any gold jewelry as per the rules.

Not every jeweler will have the same rules but there are jewelers who have this kind of terms and conditions so its better to check twice before going for these scheme.

Even there is a risk of jeweler go bust with the installments you paid. So for availing such schemes its better to go for reputed jewellers.

How to buy gold in Bhubaneswar?

When you are buying gold in Bhubaneswar, there are a number of things that you should keep in mind. First and foremost is the fact that you should check with your jeweller on gold rates whether it is Khimji Jewellers or Lalchand Jewellers in Bhubaneswar. If you find the rates are all the same at all the Jewellers, you should look for the making charges. This definitely differs from jeweller to jeweller. If the rates are reasonable go ahead and buy. Remember that making charges make-up a significant portion of the overall charges, so be careful. Afterwards you must also check the reputation and also go in only for hallmarked gold. The faster you realize that it will lead you to buy only genuine gold jewellery.\

Factors that influence on increasing gold price in Bhubaneswar?

 Gold is one of the standards value for currencies all over the world. The price of gold in Bhubaneswarcan fluctuate with market conditions. When the dollar is high, prices of gold goes down, and when it is weak, prices of gold moves high. This will happen when the dollar is weak more people tend to invest in gold for their security, and the dollar is used for international transactions across the world.

 India is the largest consumer of gold, and here the demand increases due to a large sale of gold in the form of jewelry. There are other applications in various fields like industries, medicinal equipment, etc. Nowadays central banks are accumulating gold for their reserves by buying instead of selling more, so again the price tends to rise when this happens.

Gold ETF's in Bhuwaneshwar

Bhubaneshwar, is the Capital and largest city in Odisha. There are many individuals in Bhubhaneshwar who invest in gold. Mainly investing in gold is of two types: one is Investing on the physical form of gold and the other is buying ETF's (exchange traded fund). Few Individuals who interested in investing in the physical form of gold go for Jewellery and few goes for gold coins or gold bars. Buying gold bars or coins will be more profitable than investing on jewellery.

There are individuals who go for ETF's. Usally investors who go for ETF's will have more advantages than those who invest in physical form of gold. The main reasons are easy liquidity, ease in selling and safer method. Buying gold ETF's is secured and easy method when compared to buying physical form of gold. Of course, if you want to use gold for personal consumption such as for gifting or making jewellery or sentimental purposes, there is no way you are going to buy gold ETFs.

Buying gold Gold ETFs is like making a fixed deposit it provides an opportunity to investors of Bhubaneshwar to accumulate gold over a given period of time. One can plan the procurement as per future requirements such as for the marriage of children or planning to buy properties etc.

Its very important to check the gold price in Bhubaneshwar before selling gold in physical form or ETF's which you can check on gold rates in Bhubaneshwar in good returns.in

The beauty of gold in Bhubhaneshwar

Bhubhaneshwar temple city of India has a great liking for gold due to its natural beauty and radiance. Not only in Bhubaneswar and India all over the world gold due to its natural beauty and radiance even many cultures have myths that gold represents the sun.

Yellow gold has the most popular color as everyone knows, but, this gold is available in a diverse palette and this was being done by alloying or mixing gold with other metals.

Normally the 24 karats gold cannot be with diversified colors. So to get gold of different color one should opt 22 karats one. The most famous one is White gold which is created by alloying pure gold with white metals such as palladium or silver sometimes rhodium is added to create a harder surface with a brighter shine. These days most of the White gold weddings Rings are trending all around the world.

There is also Rose-gold or pink gold which is also trending these days for necklaces and bangles for brides in these times. It is manufactured by alloying of gold with copper, and silver to get. Not only these colors there are few colors such as green gold which isn't so famous but available in the market.

Why Gold Rates Change Everyday in Bhubaneswar?

The rate of gold in Bhubaneshwar is affected by numerous factors, most important factor among them is production cost because gold producers always intend to maintain profitability.

Most of the investors who invest in gold in Bhubaneswar, value gold ETF's based on existing market values and also the gold prices in futures. They trade this valuable commodity depending on speculations in the gold price movement. Not only this there are factors responsible for gold price fluctuations.

Few of them are involvement of central banks in gold trading, Which is one of the major reason for fluctuation in gold rates. If the central bank which is Reserve Bank of India (RBI) in India is buying gold mean the price moment of Gold will be substantial. Even monetary decisions from central banks effect a lot on gold rates in Bhubaneswar.

Moment of Currency rates in other countries will also affect gold rates in bhubhaneswar. Euro, yen, real, ruble currencies from all around the world affect gold rates. But majorly which affects gold rates not only in Bhubaneswar but all over India is US Dollar. We can say Gold Rates In India is Inversely proportional to US Dollar. US Dollar and gold rates move at a time but in opposite direction.

Selling Gold in Bhubhaneshwar

There are Individuals who make money by trading gold. Lot of us know where to buy gold and where we will get gold. Even in banks one can get gold coins and bars against money deposits. There are few precautions to take if you are going to buy physical gold as an investment or trading purpose.

Normally few smart investors invest on ETF's to do trading easily. But few other investors go for phsical gold by keeping in mind few other benefits of having physical gold such as one can opt for a gold loan on physical gold which we cannot get on ETF's. So for those investors who invest in physical form of gold need to know where they can sell gold.

For the individual who is selling physical gold should have clear idea on what are the gold rates in Bhubaneswar on the specific day or else may end up selling at lower price than the market price. It is advisable to check where one can get the updated gold price in Bhubaneswar which one can find on goodreturns.in

For selling gold in Bhubaneswar better while buying go for a jeweler who has buyback terms or even one can go for reputed jewelry shops like syndicate jewellers or Khimji jewelers.

Is the Gold Rate in Bhubhaneshwar and Odisha same?

No, the gold rates vary from state to state and city to city there will not be a big difference but there will be a difference in a few Indian rupees. The reasons for that are the volume of trade, transportation charges and related expenses, and, state taxes will be different for different states and cities.

For example, we can take a city where the volume of trade in gold is very high, So the gold rates there will be less when compared to the city where the volume of trade is low.

The same is applicable for the other reasons as well, there will be tolls and other taxes for a city whereas for another city in same state there are no such tolls or taxes.

The banks and bullion traders who trade in gold, normally buy gold in bulk due to which they get this commodity for a cheap rate. Due to which they offer their customers discounts.

Still, most of the metro cities in the same state have almost the same prices. But the variation comes on the basis of the way they are buying like, are they buying in bars, coins or jewellery. This difference also comes depending upon the making charges and wastage charges. As these charges will be different for different jewelers. There will not be a big difference in gold rate in Puri, Konark, Berhampur, Cuttack, Balasore, Bhadrak, Rourkela and other cities in Odisha, compaire to gold rate in Bhubaneswar.

What are Taxes on Gold in Bhubaneswar?

Before knowing taxes on gold it is important to know what is tax. It is a contribution from us to the government for state revenue. It has to be paid depending upon few things.

For salaried employees, there is a tax slab as per the income they are earning. It will not be same for everyone it depends on upon the salary one is getting. This tax slab changes year to year.

And for the citizens who are doing business they will have to pay tax on business profits or added to the cost of some goods, services, and transactions.

In simple words tax is a compulsory investment one should do to government depending upon their earnings and mainly it is been divided into two types:
1) Direct tax
2) Indirect tax

When it comes to gold jewelry there are mainly two taxes:
1) Wealth tax
2) Capital Gain Tax

Wealth tax - Wealth tax is for those who own gold which is above Rs 30 lakhs. It is not applicable for those who has gold which is less than 30 lakhs. As the gold rates in Bhubaneswar changes it is better to track gold price in Bhubaneswar every day.

Capital Gains Tax- This is for investors and gold jewelers as they will be trading with gold and making money.

Liquidity of Gold in Bhubaneswar?

In all kind of assets such as real estate, fixed deposits and etc. gold stands first because of its liquidity feature. One cannot sell or withdraw any asset and turn it into cash as fast as one can do with gold. For example, one cannot sell their land and make money instantly in emergency conditions. As land is an immovable property, one needs to approach a real estate agent and there will be a long process for registration purpose and all. But when it comes to gold it is very easy.

There are many jewellery merchants who buy gold and give money instantly. All one need is to take care of proper bills and the hallmarks.
Even there are few jewellers who buy gold without bill or hallmarks but you may not get the money as per the gold rates in Bhubaneswar on that day.

Even one can get an instant loan from a bank, neighbourhood pawn shops and NBFC's such as Muthoot finance and etc. They may ask for bills for security reasons.

This Liquidity feature of gold in Bhubaneswar attracts individuals to buy gold when they are planning to invest in assets.

Is it Good Time to Buy Gold in Bhubhaneshwar?

There is no good or bad time to buy gold in Bhubaneswar. One cannot give perfect prediction when it is good time to buy gold. But can do it in a way where by following up few parameters. By following up those parameters one can make an approximate prediction how the gold rates in Bhubaneswar move.

Dramatical moves in Local and International politics will also affect, for example, gold rates. In recent times we can see during the presidential election of USA how volatile gold prices were. At that time dollar rate was fluctuating, parllel to those fluctuations gold rates in Bhubaneswar were fluctuating. Even we can consider the demonetization move did by PM Narendra Modi.

Since the situation and condition are changing day to day one cannot do a proper prediction. So to know the best time to buy Gold is, Just by following Gold rates in Bhubhaneshwar everyday and when you find a dip in the price of Gold and feel confident of that this right time, you can go for it.

Latest Updates on Bhubaneswar Gold Rates

Gold prices in Bhubaneswar moves up

Gold prices in Bhubaneswar have surged following international market signals, as rising coronavirus cases have supported the demand for safe-haven assets.

Gold prices in India were identified at Rs.45,570/- per 10 grams of 22-carat gold and Rs.49,710/- per 10 grams of 24-carat gold.

In the global scenario, spot gold was recorded at $1,731.65 an ounce and U.S gold futures were $ 1,740.90 an ounce. The increase in the number of new pandemic cases around the world has further strengthened the yellow metal. Gold, yellow metal tends to win in times of economic and political uncertainty.

After the reopening of the economy, most countries report a sharp increase in the number of pandemic cases, which raised fears of a second potential wave of coronavirus, strongly supporting the metal of jewellery. The precious metal has gained more than 14% so far this year and with heightened concerns over the weak economic recovery, gold prices are also expected to rise in the coming days.

More than 8.38 million people worldwide have been infected with the virus, which has yet to find a cure. China recently reported new cases in its capital, Beijing, after easing the stringent lock-in restrictions previously imposed.

19 June 2020
Gold rates in Bhubaneswar moves high

Gold rates in Bhubaneswar reached the highest level following indications between the United States and China. In the Indian market, precious metal prices in Bhubaneswar were quoted at Rs.45,460/- for 10 grams of 22-carat gold and Rs.48,530/- for 10 grams of 24-carat gold.

In the global market, spot gold has increased by 0.7% to $1,741.65 per ounce and U.S gold futures have 0.9% higher at $1,756.30.

The coronavirus, which infected more than 4.46 million people and killed 301,445 people worldwide and has affected global economic activity, prompting central banks and governments to trigger massive stimulus packages. Gold tends to benefit from economic stimuli, as it is widely regarded as a hedge against inflation and currency deterioration.

The gloomy economic scenario has heightened friction between the U.S. and China over the epidemic, with President Donald Trump suggesting that he might even sever ties with Beijing.

16 May 2020
Gold prices in Bhubaneswar gains

Gold prices in Bhubaneswar rose slightly today following indications from the international market amid a stronger dollar. On the Indian market, precious metal prices in Bhubaneswar were trading at Rs.40,020/- for 10 grams of 22-carat gold and Rs.44,020/- for 10 grams of 24-carat gold. In the international market, spot gold traded 0.4% at $ 1,619.40 an ounce and American gold futures rose 0.5% to $1,645.70 an ounce. The U.S economy cut 701,000 jobs in March, ending 113 consecutive months of job growth as tight measures to control the coronavirus epidemic hurt businesses and factories, confirming that a recession is In progress. The dollar strengthened against its rivals, progressing to a weekly increase of more than 2%, as fears of a global recession intensified. The Swiss precious metal refinery PAMP has been authorized by local authorities to resume operations and will begin processing at less than 50% of its capacity.

4 April 2020
The Gold Prices in Bhubaneswar declines

The price of gold in Bhubaneswar dropped today following indications on the international market in a context of the rapid spread of the coronavirus. On the national market, the prices of yellow metal in Bhubaneswar were negotiated at Rs.40,710/- for 10 grams of 22-carat gold and Rs.44,410/- for 10 grams of 24-carat gold. On the international market, spot gold remained unchanged at $ 1,642.03 an ounce and U.S gold futures rose 0.1% to $ 1,643.50.

Gold prices have remained stable today as mounting concerns over the rapid spread of the coronavirus and its impact on the global economy have boosted interest rate cuts from major central banks, although profit-taking has capped earnings. Concerns about the effect of the global spread of the virus have convinced investors to intensify bets that the US Federal Reserve should cut interest rates next month to cushion the economy.

28 February 2020
The Gold Rates in Bhubaneswar rises

The gold rates in Bhubaneswar recovers today following cues in the international market amid geopolitical tensions between Iran and Yemen. In the national market, the precious metal prices in Bhubaneswar were seen trading at Rs.38,360/- per 10 grams of 22-carat gold and Rs.41,830/- per 10 grams of 24-carat gold. In the international market, spot gold inched up 0.3% at $1,560.89 per ounce and U.S gold futures have flat at $1,560.50 an ounce. However, limiting the advance of gold, Asian stocks have remained at a record level for 20 months, supported by a prolonged recovery in global stocks on Wall Street and solid US economic data. Trade volumes were low, as the US markets were closed during the holidays. The central bank cut interest rates three times last year before deciding to shut up in December. Lower Interest Rates Encourage Unpaid Bullion. The yellow metal prices in Bhubaneswar were decided by some local jewellery shops association.

21 January 2020
The Gold Rates in Bhubaneswar inches up

Gold prices in Bhubaneswar have recovered today as a result of invitations to the international market in the US-China trade talks. In the domestic market, precious metal prices in Bhubaneswar were trading at Rs.36,340/- per 10 grams of 22-carat gold and Rs.39,640/- per 10 grams of 24-carat gold.

In the international market, spot gold rose 0.5% to $ 1,464.80 per ounce and US gold futures increased 0.8% to $1,465.60. The main concern is whether the United States would adopt a diplomatic position vis-à-vis Hong Kong. If the United States acts, they will return to the US-China trade negotiations.

In recent weeks, Beijing and Washington have both suggested they are moving towards an agreement that may reduce some tariffs, but the lack of information is beginning to disrupt markets. Gold is very sensitive to rising interest rates, which increases the opportunity cost of holding non-performing bullion. They also boost the dollar, in which the price of the metal.

13 November 2019
The gold rates in Bhubaneswar unchanges

Gold prices in Bhubaneswar have stabilized today despite its gains in the international market amidst uncertainty over the US-China trade negotiations.

Gold prices in Bhubaneswar were seen trading at Rs.36,650/- for 10 grams of 22-carat gold and Rs.39,980/- for 10 grams of 24-carat gold.

In the international market, spot gold rose 0.1% to $ 1,506.78 an ounce and U.S gold futures down 0.1%, $ 1,511.80. The South China Morning Post announced at the beginning of the session that a Chinese delegation was planning to leave Washington after a day of ministerial meetings, instead of Friday as planned, the report led to the collapse of Asian equities. However, the feeling of risk has slightly recovered since then.

Gold ETF holdings have peaked in the past three years and many central banks are also buying. Market investors often use gold to protect themselves from political and financial uncertainties. The yellow metal prices in Bhubaneswar were decided by some local jewellery shops association based on the international market.

10 October 2019
The gold rate Bhubaneswar gains

The price of gold in Bhubaneswar has risen sharply despite falling in the global market in the face of uncertainties between the United States and China. Gold prices in Bhubaneswar were spotted trading at Rs.37,680 / - for 10 grams of 22 carats gold and Rs.41,070 / - for 10 grams of 24 carats gold. In the overseas market, spot gold has dipped 0.6% to $ 1,537.20 per ounce and U.S gold futures have declined 0.6% to 1,546. $ 6 per ounce. Lower interest rates reduce the opportunity cost of holding non-performing bullion and weigh on the dollar. The U.S dollar traded at a low level against a basket of major currencies traded. At the same time, Asian and European equity markets benefited from strong growth in the Chinese services sector and a report indicating a possible solution to the Hong Kong events. The weakness of the data has increased the possibility of a reduction in interest rates in September. In the domestic market, yellow metal prices in Bhubaneswar have risen due to huge demand.

4 September 2019
Gold rates in Bhubaneswar slips

The gold rates in Bhubaneswar slipped today following global cues amidst trade war between Sino-U.S. In the local market, the precious metal price in Bhubaneswar was seen trading at Rs.31,440/- per 10 grams for 22-carat gold and at Rs.34,290/- per 10 grams for 24-carat gold. Spot gold down 0.3% at $1,342.60 per ounce and U.S gold future declined 0.3%, to $1,346.60 an ounce.

U.S president Donald Trump said on Tuesday he had discussed with Chinese President Xi Jinping and that the two leaders’ teams would continue their trade talks after a long lull in order to prepare for a meeting at the G20 summit later this month. Equity markets jumped after Washington said it would resume trade talks with Beijing and as investors dared to hope the U.S. Federal Reserve would follow the lead of the ECB and open the door to future rate cuts at its policy meeting.

19 June 2019
Gold rates in Bhubaneswar Rises

The gold price in Bhubaneswar today gained and settled at Rs.30,240/- per 10 grams for 22-carat gold and Rs.32,940/- per 10 grams for 24-carat gold. Spot gold was up by 0.3 per cent at $1,282.38 per ounce and U.S gold futures also were up 0.2 per cent at $1,283.90 an ounce. The gold value surged up in the bullion market amid the fall in equity markets and rupee's value against the dollar during today's trade session. The U.S president threatened to raise tariffs on Chinese goods. This is a considerable shift instance from the past week where he heralded that trade talks between the two countries U.S- China were going well but according to the international business reports, China now considers cancelling trade negotiations with the United States after Trump’s tariff-hike threats. In Bhubaneswar, the rise in the demand for the precious metal in the local market ahead of Akshaya Tritiya pushed the gold price to move high.

6 May 2019

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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