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Gold Rate in Patna (18th October 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 ₹ 2,918 ₹ 2,923 ₹ -5
8 gram ₹ 23,344 ₹ 23,384 ₹ -40
10 gram ₹ 29,180 ₹ 29,230 ₹ -50
100 gram ₹ 2,91,800 ₹ 2,92,300 ₹ -500

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

Gram 24 Carat Gold
Today
24 Carat Gold
Yesterday
Daily Price Change
1 gram ₹ 3,183.20 ₹ 3,188.70 ₹ -5.50
8 gram ₹ 25,465.60 ₹ 25,509.60 ₹ -44
10 gram ₹ 31,832 ₹ 31,887 ₹ -55
100 gram ₹ 3,18,320 ₹ 3,18,870 ₹ -550

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

Date 22 Carat 24 Carat
Oct 17, 2017 ₹ 29,180 ₹ 31,832
Oct 16, 2017 ₹ 29,230 ₹ 31,887
Oct 14, 2017 ₹ 29,310 ₹ 31,974
Oct 13, 2017 ₹ 29,280 ₹ 31,941
Oct 12, 2017 ₹ 29,380 ₹ 32,050
Oct 11, 2017 ₹ 29,250 ₹ 31,909
Oct 10, 2017 ₹ 29,120 ₹ 31,767
Oct 9, 2017 ₹ 28,800 ₹ 31,418
Oct 8, 2017 ₹ 28,700 ₹ 31,309
Oct 7, 2017 ₹ 28,884 ₹ 31,509

Weekly & Monthly Graph of Gold Price in Patna

Historical Price of Gold Rate in Patna

  • Gold Price Movement in Patna, September 2017
  • Gold Rates 22 Carat 24 Carat
    1 st September rate Rs.29,100 Rs.31,745
    30th September rate Rs.29,600 Rs.32,290
    Highest rate in September Rs.29,992 on September 8 Rs.32,563 on September 8
    Lowest rate in September Rs.29,010 on September 15 Rs.31,647 on September 15
    Over all performance Rising Rising
    % Change +1.72% +1.72%
  • Gold Price Movement in Patna, August 2017
  • Gold Price Movement in Patna, July 2017
  • Gold Price Movement in Patna, June 2017
  • Gold Price Movement in Patna, May 2017
  • Gold Price Movement in Patna, April 2017

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.

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

Gold in Patna rises as Dollar eases

Gold price in Patna rose up as the Dollar in the international market fell against the basket of currencies. On the other hand, Asian stocks fell, As per the recent report the China exports were up by 7.2 per cent and imports were up eleven per cent in terms of Dollar. Indian Markets Sensex and Nifty is also trading in losses today where Nifty gone below the 10000 mark, and the Sensex was almost down by two fifty points. This fall in the markets makes investors take shelter in gold.

In Patna, gold rates are already at high levels. It is suggested to the investors who do delivery trading to stick on to the stocks and hold on for few days until this uncertainty in the International Markets come to an end. It is better to keep some gold in your portfolio. As the Dollar falls the gold will rise and will act as your insurance during down times.

8 August 2017
Gold in Patna continues to rise

Gold rates in Patna to see gains as the Dollar price continues to fall against the Major Currencies. The dollar which is trading already under a thirteen month low continues to fall due to the global factors. North Korean Ballistic missile test then in counter US attempt to show off by flying two supersonic B-1B bombers above the Korean peninsula had made the investors cautious. Investors prefer to go for the shining metal than to put their investments on Bonds. The Asian shares also seeing some mixed results due to the Geopolitical developments ramped up in the Korean countries in recent days.

Gold in Patna which was trading around almost around Rs 29,000 may cross the mark today and trade above those levels. In case if there are any plans of buying gold it is better you check before buying as the gold in Patna is at very high levels now and is advised not to buy gold at these levels.

31 July 2017
Gold rates in Patna continue to rally

Gold prices in Patna moved higher from the opening of this week. This week on Monday, 22 karats gold rates in Patna were trading at Rs 27,500. This increased steadily, and yesterday the prices were trading around above Rs 28,800. There was an up tick in gold prices due to the rise in the gold price in the Global Markets. In the global markets, spot gold climbed 0.2 per cent and was trading around $1,260 per ounce. This up tick in gold rates this week is mainly due to the Fed meeting. For the Fed meeting, most of the investors were waiting for clues about the increase in the interest rate. Finally the US Fed decided to keep the interest rates unchanged, which helped support gold prices.

The upward momentum may continue today as well, as the gold in the International markets traded above six week high. As of now, the gold price in Patna is trading a little lower than Rs 29,000 mark. If the rally continues, gold price in Patna may cross Rs 29,000.

28 July 2017
Gold price in Patna slips ahead of the Fed Meet

Gold in the global markets fell as the Dollar was trading firmly ahead of the Fed meeting. The Dollar was supported by stronger-than-expected readings on the U.S. economy. After seeing gains for a week gold price in Patna to fall Today. Gold price for 22 karats in Patna was trading around Rs 27,500 and went up and crossed the Rs 28,000 mark. Today gold price in Patna may see some fall but not seems to trade Rs 28,000 mark.

Long term Investors in Patna are who wants to buy gold is advised to buy the precious metal trades below Rs 27,500, and also it is suggested to buy it in electronic form such gold bonds or ETF's. Hold on to the gold for a long term will bring profits for sure. Buying gold in the electronic form will save you from various charges such as making charges, wastage, etc.

25 July 2017
Gold to trade flat in Patna

Gold rates in Patna are likely to trade flat. In fact, 22 karats gold price in Patna was trading at Rs 28,600 and 24 karats gold price was trading at Rs 31,200. If we see, from the starting of the week the gold rates in Patna were trading at the same levels. On Monday 22 karats gold prices opened around Rs 28,650 and 24 karats gold price at Rs 31,200. The prices are at same levels. Investors were waiting for clues from the Japan Central bank, and European Central bank meeting, and as both the banks decided to keep the monetary policies steady the gold prices continue to trade at the same level in the Global Markets. Spot gold slipped by 0.04 percent and was trading around $1,243 per ounce.

It seems investors in Patna are focusing on the stock markets and keeping their bets on the stocks than on the precious metal. If we see the Sensex and Nifty are trading at record level where the Sensex crossed 32,000 and Nifty crossed 9900.

21 July 2017
Gold moves up in Patna

22 karats gold price in Patna were trading higher at Rs 28,680 per 10 grams, and it appears that this may continue today as well as the US dollar is trading flat in the International Markets. We all know that Gold and Dollar are Inversely proportional. If the US Dollar rates in the International Markets move up the gold price will fall. Similarly, if the Dollar price in the International markets falls then the gold price will go up.

Gold rates in Patna will move depending upon the movement of the gold price in the international markets. Spot gold climbed about 0.1 per cent and was trading around $1,242 per ounce. There are chances that we may see gains in the Gold price in Patna as well. As of now gold price in Patna are trading at higher levels if there are plans of buying gold better to postpone it as the price at which the gold is trading now is not a good price to buy.

19 July 2017
Asian stocks edged up, Gold Down

Gold price in Patna down after the rise in Asian shares. Asian shares moved up, Dollar rose as the investors were waiting for some clues from the Federal Reserve Chair Janet Yellen about the Fed Interest rate hike. Asian stocks edged up few points after the U.S. technology stocks rally. It seems that the gold prices are on a downward trend this month. 22 karats Gold price in Patna opened this month at Rs 28,500, and now it is trading at Rs. 27,700 per 10 grams.

The global factors are in favor to the US Dollar, and the strong Dollar is Pressurizing the gold prices in Patna. As of now, The chances are less that the gold prices in Patna may rise shortly. So it is recommended to investors to continue their bets on stocks. As of now, Markets are on a rally where Sensex is now trading around 31,800, and Nifty is trading above 9800.

11 July 2017
Gold nudges up in Patna

Gold price in Patna will go higher today due to some uptick in gold prices in the International markets. Gold got some support due to the missile test by North Korea and a weak dollar. North Korea test-launched a missile from its western region into the sea off its east coast on Tuesday which gave some hit on thew Asian stocks. On the other hand, the dollar slipped against six major currencies.

Among all the metals only Silver is down. Gold, Platinum and Palladium rose in the International Markets. Silver went down by 0.1 per cent at $16.10. Spot gold increased by 0.2 per cent and is trading around $1,223 per ounce. Platinum rose up by 0.5 per cent and is trading at $906.20 and Palladium gains by 1.5 per cent and is trading around $855.73 an ounce. The moment of the Gold in the International Markets pushed the gold rates in Patna and is expected to trade a little higher than yesterday prices.

4 July 2017
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

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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