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Gold Rate in Patna (5th December 2022)

Dec 5, 2022
4,948 /Gram(22ct)

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 22K Today 22K Yesterday Price Change
1 gram 4,948 4,948 0
8 gram 39,584 39,584 0
10 gram 49,480 49,480 0
100 gram 4,94,800 4,94,800 0

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

Gram 24K Today 24K Yesterday Price Change
1 gram 5,398 5,398 0
8 gram 43,184 43,184 0
10 gram 53,980 53,980 0
100 gram 5,39,800 5,39,800 0

* The above gold rates are indicative and do not include GST, TCS and other levies. For the exact rates contact your local jeweller.

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

Date 22K 24K
Dec 4, 2022 49,480 0 53,980 0
Dec 3, 2022 49,480 230 53,980 250
Dec 2, 2022 49,250 450 53,730 500
Dec 1, 2022 48,800 220 53,230 210
Nov 30, 2022 48,580 90 53,020 90
Nov 29, 2022 48,490 -100 52,930 -100
Nov 28, 2022 48,590 0 53,030 0
Nov 27, 2022 48,590 10 53,030 30
Nov 26, 2022 48,580 -20 53,000 -20
Nov 25, 2022 48,600 10 53,020 10

Weekly & Monthly Graph of Gold Price in Patna

Historical Price of Gold Rate in Patna

  • Gold Price Movement in Patna, November 2022
  • Gold Rates 22K 24K
    1 st November rate Rs.46,580 Rs.50,810
    30th November rate Rs.48,580 Rs.53,020
    Highest rate in November Rs.48,780 on November 17 Rs.53,210 on November 17
    Lowest rate in November Rs.46,130 on November 4 Rs.50,320 on November 4
    Over all performance Rising Rising
    % Change +4.29% +4.35%
  • Gold Price Movement in Patna, October 2022
  • Gold Price Movement in Patna, September 2022
  • Gold Price Movement in Patna, August 2022
  • Gold Price Movement in Patna, July 2022
  • Gold Price Movement in Patna, June 2022
  • Gold Price Movement in Patna, May 2022

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.

Demand for gold in Patna?

People in India generally buy gold during festive seasons or marriage ceremonies or as a gifting option to near and dear ones on special occasions. People in Patna are influenced by the culture of North and East India and hence they generally purchase gold mostly as a gifting option. People in Patna consume gold in the form of ornaments and jewelry. They depend on the locally available jewelry shops both small and large dealers for purchasing gold. Nowadays the demand for gold in Patna is scaling new heights. People want to invest in gold as a form of investment as well as purchase gold in the form of ornaments and jewelry. The demand for gold in Patna peaks up during festive season. Though there are several ways to invest in gold like bonds, gold ETF’s, e-gold; people prefer to buy physical form of gold. They consider buying gold in physical form to be the safest way of investing in gold. The government is using various techniques to discourage the people to buy the gold by levying heavy duties on import of gold, but it is not affecting the demand for gold in Patna. Whenever the price of the gold comes down due to the various external factors one can witness more demand for gold 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.

What are the different ways to buy gold?

There are different ways to buy gold they are Gold Exchange Traded Funds, Gold Bullion, and Coins, E-Gold, Gold Mining Funds, Physical Gold. The Gold Exchange Traded Fund is an instrument that is based on gold price in the gold bullion markets. It is sold on the main stock exchanges. It allows investors to participate in the gold market and it gives ease and transparency and security to investors. Gold coins help those who want to buy physical gold. It is made with a purest physical form of gold. E-Gold allows investors to invest in gold with much lower denominations than physical gold. We can buy e-gold electronically on the internet from the exchange. Gold Mining Funds invest in stocks of companies engaged in gold mining and production. Physical gold like jewelry and ornaments have always been the traditional way to buy gold.

Latest Updates on Patna Gold Rates

The Precious Metal Prices Falls in Patna

Gold prices fell in Patna during today's trading session following signals from gold markets.

Gold rates in Patna were seen at Rs.45,830/- for 10 grams of 22-carats and Rs.49,990/- for 10 grams of 24-carat gold.

In the overseas scenario, spot gold stood at $1,674 per ounce and US gold futures at $1,675 per ounce.

Bullion hovered at the lowest level of around $1,650 an ounce in more than two years from now.

Analysts note that the Fed's 75 basis point rate hike has been priced in and market participants are now pricing in the possibility of a surprise move. Amid low expectations of a surprise Fed move, commodities and gold edged higher and could see an extended gain.

The US Federal Reserve will wrap up its two-day monetary policy meeting today and mostly announce a 75 basis point hike in interest rates, in line with market expectations, to keep inflation in check. Still, some analysts expect the Fed to surprise markets with a 100 basis point interest rate hike.

Rising interest rates will reduce the attractiveness of gold as it increases the opportunity cost of holding non-performing bullion. A stable greenback makes bullion more expensive for holders of other currencies.

21 September 2022
The Yellow Metal Prices in Patna Declines

Gold prices crashed in Patna on signals from gold markets, with the Fed very likely to adopt an aggressive mode to rein in inflation rates. Gold prices in Patna were recorded at Rs 47,220 for 10 grams of 22 carats and Rs 51,510 for 10 grams of 24 carats.

On the overseas forum, spot gold stood at $1,811 an ounce and US gold futures at $1,818.50 an ounce.

Rising inflation has forced the US Fed to adopt a hawkish stance on interest rates to fight inflation. The Federal Open Market Committee is expected to announce its decision on interest rates later today.

Investors are betting the Fed is likely to hike rates by 75 basis points instead of the usual 50 basis points, a reversal in expectations that has fueled a violent sell-off in global markets.

Rising interest rates and short-term US bond yields have increased the opportunity cost of holding bullion, which pays no interest.

Gold acts as a safe haven. Investors tend to take refuge in gold during political and economic uncertainties.

15 June 2022
The gold market is down in Patna today

In Patna , the gold market was down slightly today. This can be useful for retail gold inquiries. 22 karat gold rates fell by Rs. 160 and 24 karat gold rates fell by Rs. 180/10 grams. The price of 22 karat gold per gram stood at Rs. 4632 today, yesterday it was Rs. 4648. So, 100 grams of 22 karat gold today is quoted at Rs.4648. 24 karat gold rate is Rs. 50520 yesterday it was Rs. 50700. Today the price of 100 grams of 24 karat gold is quoted at Rs. 507000.

Investors are currently losing interest in the yellow metal and rates are falling. "The decline of gold is investors covering losses elsewhere. Liquidation for traders and investors to offset the large losses seen in stock markets. Gold is one of the easiest things to convert to cash when times are tough,” commented Gainesville Coins precious metals expert Everett Millman. in the gold market.

Today, spot market gold rates also fell until the last trade. Spot prices dipped to $1813.20/oz.

14 May 2022
The Gold rates in Patna rises

Gold prices in the city of Patna have risen to Rs. 70 for 10 grams, 22k gold is quoted at Rs. 47,160, while 24k gold after earning Rs. 70 is priced at Rs. 49,160 for 10g.

In international markets, spot gold at around 7:30 p.m. IST or 8:52 a.m. New York time was trading up 0.62% at $1,824.9 an ounce. Similarly, the February gold futures contract gained as much as 0.72% to trade at $1,825.45 an ounce.

Bullion's gains are fueled by dollar weakness, with the US dollar index lately falling 0.18% to 95.58. The US 10-year bond yield also traded in the red after hitting 2-year highs in the previous session as an earlier-than-expected interest rate hike by the Federal Reserve looms.

Nonetheless, gains on bullion remain capped as the Federal Reserve's next policy meeting scheduled for next week is on the lookout for hints on the timing of interest rate hikes.

19 January 2022
The gold rates in Pune falls

Rates for 22 karat gold in Pune fell by Rs. 90/10 grams and 22 karat gold rates fell by Rs. 1,440/10 grams today. The Comex gold future fell 0.64% and was listed at $ 1,749, while the spot gold price fell 0.72% and was listed at $ 1,748 / oz today until 2:24 p.m. IST.

On the other hand, the US dollar index in the spot market rose 0.33% to 94.30 at the same time today. In India, Mumbai MCX gold in October fell 0.36% from yesterday but was listed at Rs. 46,590 / 10 grams until today 2:34 pm IST. Gold prices stagnate again at the $ 1,750 level amid the rise in the US dollar index.

The price of 22 karat gold per gram is Rs. 4485 today, yesterday it was Rs. 4494. Thus, the gold rate of 100 grams to 22 karats is today quoted at Rs. 448,500.

For 24 karat gold per gram the rate is Rs. 4,668 per gram today, yesterday it was Rs. 4,812. Today the price of 100 grams of 24 karat gold is quoted at Rs. 466,800.

6 October 2021
Gold Prices Jumps in Patna

The gold prices jumped in Patna following cues from the overseas markets amidst a drop in the U.S. Treasury yields. The gold rates in Patna recorded at Rs 46,970 for 10 grams of 22 karats and Rs 47,970 for 10 grams of 24 karats. 

In the global forum, spot gold traded at $1,809.30 per ounce; U.S. gold futures at $1,804.10 per ounce. 

The benchmark 10-year Treasury yields touched their lowest in more than four months and reduced the opportunity cost of holding bullion. 

Analysts note that the fall in the U.S. Treasury yields is the driver for the ornamental metal. But its revival has been slow and somewhat lacklustre considering its slump of 7% last month after the Fed hinted at a hawkish stance on monetary policy.

The Fed has kept the interest rates at near-zero levels since last year, to uplift the economy battered by the pandemic. The outbreak of the coronavirus had forced investors to park their investment in gold, the safe-haven asset during uncertainty. 

The minutes from the Fed could provide more cues on the monetary policy stance. 

Gold and bonds share an inverse relationship. The decline in the treasury yields has pressurized the ornamental metal to surge during Wednesday’s trade session. 

In the international platform, the prices of the ornamental metal-edged higher and was on course for recording its sixth consecutive session of rising, driven by a fall in the U.S. Treasury yields ahead of the release of minutes from the U.S. Fed Reserve’s June meeting. 

7 July 2021
Gold prices have declines in Patna

Gold prices have collapsed in Patna following trends in gold markets as attention shifted to inflation data in the United States. Gold prices in Patna traded at Rs.47,510/- for 10 grams of 22-carat gold and Rs.48,510/- for 10 grams of 24-carat gold.

In the international forum, spot gold stood at $ 1,900.20 an ounce; US gold futures at $ 1,884.60 per ounce.

Prices for the yellow metal fell on Monday as the US currency strengthened slightly, with investors focusing on US inflation data due to be released later this week. The data is likely to provide some indication of how long the US Federal Reserve will refrain from gradually reducing monetary policy support.

The outbreak of the pandemic crisis forced the Central Bank of the United States to roll out a monetary policy with lower interest rates and unprecedented stimulus support to help the struggling US economy.

Ornamental metal prices edged up over 1% in the previous session after a weaker-than-expected monthly US employment report that allayed investor fears that the monetary stimulus would be limited shortly.

7 June 2021
Gold prices in Patna edges up

Gold prices edged up in Patna following gold market indexes amid gloomy U.S employment data. Gold prices in Patna were trading at Rs.46,350/- for 10 grams of 22-carat gold and Rs.47,350/- for 10 grams of 24-carat gold.

In the global scenario, spot gold was $ 1,831.90 per ounce; US gold futures at $ 1,815.40 per ounce.

Weaker-than-expected US employment data rekindled concerns about the revival of the global economy, pushing the value of the dollar down, thus increasing the appeal of bullion.

The US currency fell from a more than two-month high on Friday after the US jobs report indicated a slower recovery from the impacts of the coronavirus. The weak dollar makes the precious metal less expensive for currency holders in other countries.

The jobs report on Friday showed job losses in two sectors - manufacturing and construction, which have supported the economy. The benchmark 10-year Treasury index hit high levels not seen in nearly a year, capping gold gains. Higher yields increase the opportunity cost of holding unproductive bullion.

8 February 2021
Gold prices in Patna slips

Gold prices in Patna slipped slightly despite stability in overseas markets as hopes faded over the new stimulus package. Gold prices in Patna traded at Rs.49,530/- for 10 grams of 22 carats and Rs. 50,530/- for 10 grams of 24-carat gold.

On the offshore platform, spot gold stood at $ 1,915.30 an ounce; US gold futures at $ 1,907.00 per ounce.

The United States is experiencing an economic downturn due to increasing pandemic cases and needs stimulus help to cushion the struggling economy. A disagreement between Republicans and Democrats over the size of stimulus aid halted its progress.

The lack of stimulus until the end of the US presidential election, scheduled for next month, allowed gold to trade today. The dollar index slipped around 0.1% today. Still, the index set for a weekly gain.

Meanwhile, US President Donald Trump announced yesterday that he is ready to increase his offer of $ 1.8 trillion for humanitarian aid to Democrats in Congress. But his proposal was rejected by Senate Majority Leader - Mitch McConnell.

16 October 2020
The price of gold in Patna has slips

The price of gold in Patna has slipped following cues in the bullion market after reaching a record level in eight years after an increasing number of cases and a strong dollar. The price of gold in Patna has seen at Rs.46,620/- for 10 grams of 22 carats and Rs.47,620/- rupees for 10 grams of 24 carats. In foreign markets, spot gold was recorded at $ 1,794.70 per ounce and American gold futures at $ 1,785.70 per ounce. Investors signed up for profits as the rise in the number of pandemic cases spurred the rise of the precious metal and hit an eight-year record in the previous session. Analysts note that, despite the presence of solid underlying support, demand is still on the rise. But the downside risks are limited and a weak dollar should help the jewellery metal to climb to $ 1,800. The increasing number of cases in India has reduced the demand for gold as many investors are currently refraining from buying metal due to its exorbitant prices and its uncertain situation.

7 July 2020

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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