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Gold Rate in Bhubaneswar (18th October 2017)

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
Today
22 Carat Gold
Yesterday
Daily Price Change
1 gram ₹ 3,015 ₹ 3,020 ₹ -5
8 gram ₹ 24,120 ₹ 24,160 ₹ -40
10 gram ₹ 30,150 ₹ 30,200 ₹ -50
100 gram ₹ 3,01,500 ₹ 3,02,000 ₹ -500

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

Gram 24 Carat Gold
Today
24 Carat Gold
Yesterday
Daily Price Change
1 gram ₹ 3,289 ₹ 3,294.50 ₹ -5.50
8 gram ₹ 26,312 ₹ 26,356 ₹ -44
10 gram ₹ 32,890 ₹ 32,945 ₹ -55
100 gram ₹ 3,28,900 ₹ 3,29,450 ₹ -550

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

Date 22 Carat 24 Carat
Oct 17, 2017 ₹ 30,150 ₹ 32,890
Oct 16, 2017 ₹ 30,200 ₹ 32,945
Oct 14, 2017 ₹ 30,230 ₹ 32,978
Oct 13, 2017 ₹ 30,200 ₹ 32,945
Oct 12, 2017 ₹ 30,190 ₹ 32,934
Oct 11, 2017 ₹ 29,970 ₹ 32,694
Oct 10, 2017 ₹ 29,950 ₹ 32,672
Oct 9, 2017 ₹ 29,750 ₹ 32,454
Oct 8, 2017 ₹ 29,650 ₹ 32,346
Oct 7, 2017 ₹ 29,704 ₹ 32,404

Weekly & Monthly Graph of Gold Price in Bhubaneswar

Historical Price of Gold Rate in Bhubaneswar

  • Gold Price Movement in Bhubaneswar, September 2017
  • Gold Rates 22 Carat 24 Carat
    1 st September rate Rs.28,830 Rs.31,450
    30th September rate Rs.29,800 Rs.31,963
    Highest rate in September Rs.29,800 on September 5 Rs.32,127 on September 5
    Lowest rate in September Rs.28,500 on September 5 Rs.30,654 on September 5
    Over all performance Rising Rising
    % Change +3.36% +1.63%
  • Gold Price Movement in Bhubaneswar, August 2017
  • Gold Price Movement in Bhubaneswar, July 2017
  • Gold Price Movement in Bhubaneswar, June 2017
  • Gold Price Movement in Bhubaneswar, May 2017
  • Gold Price Movement in Bhubaneswar, April 2017

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.

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 in Bhubaneswar on an upward trend

Gold rates in bhubaneswar to rise as the Dollar continues to fall. The dollar fell after the missile test did by the North Korea. US stock futures dropped, On an average US stock futures, went down by 147 points. Japanese yen rose against the Dollar, One Hundred and eleven Yen was equaled to one Dollar during the opening of the month, but now it is around 108.32. Asian stocks fell where South Korea's Kospi index dropped by nearly 1.44 per cent, and Japan's Nikkei index declined by nearly 0.87 per cent which was to a four month low. This has pushed the precious metal value globally. Spot gold advanced by 0.5 per cent and traded around $1,316 an ounce. This advancement of the gold in the global markets may reflect in the gold price in bhubaneswar. For 22 karats gold price in bhubaneswar was above Rs 29,500, and it seems if the uncertainties continue gold price in bhubaneswar may cross Rs 30,000 mark shortly.

29 August 2017
Gold in Bhubhaneshwar continues to trade steadily

Gold rates in Bhubhaneshwar are trading flat. After the Fed meet concludes that there will be no change in the monetary policy, the US Dollar went down and pushed gold to a six week high. Spot gold increased by 0.2 per cent and was trading around $1,260 per ounce. Gold Futures in the US for August delivery held steady around $1,259 per ounce. The Gold in the Bhubaneshwar which was trading at Rs 28,660 for 22 karats per 10 grams may continue to trade at same levels as the gold price in the international Markets didn't see any significant change.

Week economic data and political uncertainties in the US are pressurizing the dollar, and the dollar is now trading nearly a year low against the major currencies. The decision on U.S. interest rates in the Fed meeting was a major driver this week. This week, we have seen a marginal uptick in prices.

28 July 2017
Flat gold rates in Bhubhaneshwar

Gold price in Bhubhaneshwar is to trade today at steady levels ahead of the Fed meeting. Investors are holding on for the Federal Reserve meeting for hints on monetary policy and also the possibility of the Interest rate hike this year. Spot gold was almost stable around $1,255 per ounce, and Gold futures in the US for August delivery climbed about 0.1 per cent and is trading around $1,255 per ounce. Repeated failures to fix the Obama healthcare system problem is bringing political disorder which is pushing the Dollar down from past one week. The Dollar is trading at almost near thirteen month low. The fall in the Dollar always drives the gold up.

22 karats gold price in Bhubhaneshwar was trading at high levels around Rs 28,710, and 24 karats is trading at Rs 31,320. If the gold price continues to trade in gains in no time 22 karats gold price in Patna will cross Rs 29,000 and 24 karats gold price may cross Rs 31,500.

25 July 2017
Gold rates in Bhubhaneshwar slips

Gold rates in Bhubhaneshwar seem to trade flat though the Euro surged against the dollar after the Chief of the European Central Bank Draghi's comments. The Euro rebounded to near-14-month-highs of $1.1571 against the dollar. There is no change in the ECB ultra easy monetary policy and did not even address about the cutting back motive, implying it may delay an imminent decision on tapering bond buys until the latest permissible moment.

Bank of Japan held the monetary policy steady pushed back the timing for reaching its ambitious inflation target. These decisions and the policies have the effect on the gold prices Internationally as well as on MCX. On MCX gold price is down 0.06 per cent and is trading at Rs 28,315. The silver price on the MCX also took some heat and trading in declines where Silver is down on MCX by 0.16 per cent and is trading at Rs 37,820. This has pushed traders in Bhubaneshwar to keep their money on stocks at the moment.

21 July 2017
Gold gains in Bhubhaneshwar

The U.S. dollar traded at ten months low against major currencies on Tuesday. The hesitation over the movement of the Federal Reserve's policy tightening pressured the dollar. Asia markets were tangled as dimmed outlooks for U.S. health-care reform led to the dollar immersing. In the International markets, of all the precious metals Gold and silver were trading in gains whereas the Platinum and Palladium see some drop.

Spot gold was trading around $1,241 per ounce. Silver moved up and was trading at $16.26 per ounce. Platinum dropped 0.2 per cent and was trading at $920.50 per ounce. Palladium slipped by 0.3 per cent and was trading at $861.25 per ounce. On the other side, The world's biggest gold-backed exchange-traded fund, SPDR Gold Trust fell by 0.68 per cent. These International factors have an effect on the gold price in Bhubhaneshwar which seems to rise today.

19 July 2017
Gold rates in Bhubhaneshwar flat

Gold rates in Bhubhaneshwar to trade flat today. Few International factors are pressurizing precious metal from the past few days, and the gold prices are trading at low levels. The pressure is not only on gold but also on other metals as well. Silver and palladium are also taking the heat. Silver price in the International Markets fell by 0.3 per cent and is trading at $15.59 per ounce. Platinum is down by 0.6 per cent and is trading at $894.45 per ounce. This momentum can be seen on the MCX as well.

On MCX gold price fell by Rs 79 and is trading at Rs 27715. Silver is down by Rs 321 and is trading at Rs 36223. This fall in the metal prices on the commodity market may be a chance for investors who do buy on declines. As of now the gold prices is at a reasonable level for buying. It is advised to do buyings before the U.S. Federal Reserve Chair Janet Yellen addresses Congress.

11 July 2017
Gold prices in Bhubhaneshwar trading flat

Gold prices in Bhubhaneshwar were seen trading flat. Investors are holding prices steady and waiting for the Janet Yellen speech at the London's Royal Academy. Gold prices in Bhubhaneshwar were always affected by the global factors. The price of gold in Bhubhaneshwar gains momentum if there is any momentum in the gold prices in Global Markets. If we see, there was a lot of movement in the gold price in this month.

This month at a point 22 karats gold prices in Bhubhaneshwar crossed Rs 29,000 mark and traded around Rs 29,100 and at one point 22 karats gold prices fell and traded around Rs 28,300. 24 karats gold price also had similar momentum this month. This movement in the gold prices had given some tension to investors invested in the Gold Futures. Today, On MCX Gold and Silver are up. Gold is up by Rs 124 and is trading at Rs 28,634. Silver is up by Rs 184 and is trading at Rs 38,488.

27 June 2017
Bhubhaneshwar Gold Prices Surge

Gold prices in Bhubhaneshwar surged due to the two-day U.S. Federal Reserve meeting outcome expectations. With the hope that the Federal Reserve interest rate will hike gold prices went up internationally. If the interest rates are increased, it will give some push to the Dollar and commodities priced in the Dollar will become expensive to buy using other currencies. International gold prices were up by 0.3 per cent and were trading at $1,269. This has shown some effect on the gold prices in Bhubhaneshwar as well. The momentum in Gold price in Bhubhaneshwar will be same as the momentum in the gold prices internationally. 22 karats gold prices in Bhubaneswar was up by Rs 100, Gold prices were trading around 28,600 is now trading at Rs 28,700. 24 karats gold prices which were trading at Rs 31,100 is now trading at Rs 31,300. Investors planning to invest in gold is advised to hold on until the prices reach below Rs 28,000 mark.

14 June 2017
Gold rates rallied in Bhubaneshwar

Gold rates in Bhubaneshwar rallied, as the international gold prices edged higher, due to the disappointing U.S. jobs data. Investors are selling their stocks and buying commodities. 10 grams 22 karats gold price in Bhubaneswar touched nearly 29,000 and 24 karats around 31,000. This is not new for the investors to take shelter in the precious metal. When there is any global uncertainty investors invest their money in gold. Due to the wedding season, the chance is less for changes in the sales of the jewellery. Investors who want to invest in gold must wait, as the prices are very high. Compared to other cities, gold prices in Bhubhaneshwar trades a little higher. This can be due to some local duties and taxes. Though it trades higher people in Odisha loves gold so much the sales never went down and disappointed the jewelers. It is advised to hold for few more days if you want to invest in gold.

5 June 2017
Gold rates Bhubaneswar hold ground

Gold prices in Bhubaneswar were expected to open marginally lower as investors digested a string of data. Gold in the city has been hovering in a range for the last few weeks and today was no different. There has been a string of data reversals, which put pressure on gold prices in Bhubaneswar and also around the world. Gold for 22 karats was last seen trading at Rs 29,553 in the city for 22 karats. This is one of the few cities in the country where gold rates have risen substantially. In fact, the difference in gold prices in Bhubaneswar and other cities has been very high. In fact, the situation is true for many other cities in the East like Kolkata, where the prices are much higher then cities like Bangalore, where gold prices are much lower. In any case, one should take a look at the gold rates in the city before you buy.

2 April 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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