Gold Rate In Bhubaneswar

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Today’s Gold Rate in India
22 Karat
47,350Per 10g of 22k Gold

Today 24 Carat Gold Price in Bhubaneswar- Updated Jun 19 2021

Gram 24 Carat Gold Yesterday 24 Carat Gold Today
Daily Price Change
1 GRAM Rs 4860.00 Rs 4881.00 0.43 %↑
8 GRAM Rs 38880 Rs 39048 0.43 %↑
10 GRAM Rs 48600 Rs 48810 0.43 %↑
100 GRAM Rs 486000 Rs 488100 0.43 %↑

Today 22 Carat Gold Price in Bhubaneswar- Updated Jun 19 2021

Gram 22 Carat Gold Yesterday 22 Carat Gold Today Daily Price Change
1 GRAM Rs 4455.00 Rs 4475.00 0.447%↑
8 GRAM Rs 35640 Rs 35800 0.447%↑
10 GRAM Rs 44550 Rs 44750 0.447%↑
100 GRAM Rs 445500 Rs 447500 0.447%↑

Today Gold Rate In Bhubaneswar : Jun 19 2021

Gold Rate In Bhubaneswar

The gold rate in Bhubaneswar has seen a very slow uprise in the gold rate In Bhubaneswar than ever before, as it is a very popular commodity among Indians. There has been a great demand for it which has led to a steady increase in the gold rate in Bhubaneswar.

The gold rate In Bhubaneswar today is well above Rs. 2,700 for one gram of gold. This leads to a profit in the industry. The gold rate of Bhubaneswar is set by international standards like in any other city.

Compare 22k & 24k Gold Rate in Bhubaneswar

Gold Today Yesterday Rate Change
Standard Gold (22 K) ( 1 gram ) ₹ 4,610 ₹ 4,560 ₹ 50 ↑
Standard Gold (22 K) ( 8 grams ) ₹ 36,880 ₹ 36,480 ₹ 400 ↑
Pure Gold (24 K) ( 1 gram ) ₹ 5,030 ₹ 4,976 ₹ 54 ↑
Pure Gold (24 K) ( 8 grams ) ₹ 40,240 ₹ 39,808 ₹ 432 ↑

Last 10 Days Gold Rates

Date
STANDARD GOLD 22K PURE GOLD 24K
1 GRAM 10 GRAM 1 GRAM 10 GRAM
May 26, 2021 Rs. 4710.00 Rs. 47100 Rs. 5100.00 Rs. 51000
May 25, 2021 Rs. 4693.00 Rs. 46930 Rs. 5083.00 Rs. 50830
May 24, 2021 Rs. 4693.00 Rs. 46930 Rs. 5083.00 Rs. 50830
May 23, 2021 Rs. 4693.00 Rs. 46930 Rs. 5083.00 Rs. 50830
May 22, 2021 Rs. 4693.00 Rs. 46930 Rs. 5083.00 Rs. 50830
May 21, 2021 Rs. 4693.00 Rs. 46930 Rs. 5083.00 Rs. 50830
May 20, 2021 Rs. 4693.00 Rs. 46930 Rs. 5083.00 Rs. 50830
May 19, 2021 Rs. 4682.00 Rs. 46820 Rs. 5072.00 Rs. 50720
May 18, 2021 Rs. 4681.00 Rs. 46810 Rs. 5071.00 Rs. 50710
May 17, 2021 Rs. 4650.00 Rs. 46500 Rs. 5050.00 Rs. 50500

Gold Rate in Bhubaneswar

Gold is a trendy commodity in any state in India, including Bhubaneswar. The gold rate in Bhubaneswar is decided by international trends. Gold prices are also considered dynamic. They are also affected by many factors. Gold is purchased in Bhubaneswar primarily as jewellery and ornaments.

Indians have had a known history of banking on gold more than the actual banks. Gold also acts as an investment portfolio for all consumers in Bhubaneswar who are looking at stable and long-term returns from the metal. There are many large and small gold dealers in Bhubaneswar that are exclusively into precious metals and form the backbone of the local gold industry.

List of banks providing gold loan in Bhubaneswar

Customers who are owners of gold jewellery can always approach any bank to get a loan against jewellery to meet any urgent, personal, or business expense. Some of the large banks and NBFCs in Bangalore that provide loan against gold jewellery are:

Bank / NBFC Rate Per Gram Interest Rate Gold Loan Tenure Min – Max Loan Amount
₹ 3,506 to ₹ 4,621 0.099 3 to 24 months ₹ 10 thousand to 5 crore
ICICI Gold Loan ₹ 3,506 to ₹ 4,621 0.1 6 to 12 months ₹ 10 thousand to 5 crore
₹ 3,506 to ₹ 4,621 0.12 7 days to 36 months ₹ 3 thousand to 1 crore
₹ 3,506 to ₹ 4,621 0.1225 12 months ₹ 3 thousand to 1 crore
₹ 3,506 to ₹ 4,621 0.1025 36 months ₹ 20 thousand to 50 lakh
₹ 3,506 to ₹ 4,621 0.1 3 to 36 months ₹ 10 thousand to 5 crore
SBI Gold Loan ₹ 3,506 to ₹ 4,621 0.0975 12 to 36 months ₹ 20 thousand to 50 lakh
₹ 3,506 to ₹ 4,621 0.075 3 to 36 months ₹ 20 thousand to 50 lakh
₹ 3,506 to ₹ 4,621 0.1025 12 months ₹ 20 thousand to 50 lakh
₹ 3,506 to ₹ 4,621 0.1025 12 months ₹ 10 thousand to 5 crore
IIFL Gold Loan ₹ 3,506 to ₹ 4,621 0.12 11 months ₹ 3 thousand to 50 lakh

How are Gold Rates Decided?

How do Gold Traders Determine Future Gold Prices in Bhubaneswar?

Today’s gold rate in Bhubaneswar is not determined by just a single factor. Many factors lead to all the price variations. However, the investors have to consider a few parameters to predict the gold prices in Bhubaneswar:

  1. Gold Related News: Investors can check the news for today’s gold rate in Bhubaneswar every day for any kind of price fluctuation, which may be a result of the fluctuations in the global market. The gold rate in Bhubaneswar also keep changing, and by following any gold-related news on our site, you will be updated about any changes taking place in the current gold rate.
  2. Prices of Other Valuable Metals: The gold rate in Bhubaneswar are also influenced by the prices of other precious metals. So, investors have also been following the rate of other metals in the city.
  3. Rupee Foreign Exchange Rate: Fluctuations in the rates of the rupee can also affect the gold prices in Bhubaneswar because the rupee exchange rate shows the impact of imports and exports on our currency.

What Leads to the Increment of Gold Rates When the Stock Market Falls?

Any investor is always seen to rely on gold when no other investment option works. When the stock market falls, it is natural for an investor to start pulling their money out. Some investors also put their money in fixed deposits or invest in other precious metals such as gold and silver as a safe investment option.

Impact of GST on Gold Rate in Bhubaneswar

There has been a lot of ebbs and flow in the rate of gold, especially after the Goods and Service Tax (GST) has been enacted in India. Along with international trends, the introduction of GST will also be reflecting on the gold rate in Bhubaneswar as well. This means that the tax levied on gold jewellery is now 3%. This is exclusive of the 1.5% VAT that was levied earlier. After the GST, taxation has been streamlined.

This has been able to increase the total cost by 1.6%, and it has also led to a marginal increase in the gold rate in Bhubaneswar today. This has, however, not affected the sales much. Today, all the big players in the gold industry are benefitting from it.

Impact of Central Bank Policies on Bhubaneswar Gold Rate?

The Central Bank regulates all the banking services of India. They also execute the government’s issuing of currency and monetary policies. The gold rate in Bhubaneswar and any other part of the country is based on the Central Banks’ monetary policy. All these policies are regulated by the central bank. Its actions are the key drivers in setting gold prices. It should also be noted that the gold prices in Bhubaneswar are also affected when the banks buy or sell gold.

Gold as an Investment in Bhubaneswar

The investment portfolio of gold is a very distinguished one. Indians have always believed in investing in gold as it provides many long-term benefits. Bhubaneswar is also considered to be a haven to invest in gold jewellery, gold coins, or ornaments of any kind.

There are several jewellery stores in Bhubaneswar where you can buy genuine gold products for investment purposes. However, before making any purchase, you should do some online research to know about the gold price today in Bhubaneswar so that you make a proper decisionThe gold prices keep on fluctuating every day, so it is of utmost importance for you to check on that particular day as well.

How Can You Make Gold Investments in Bhubaneswar

When it comes to investing in gold, their many ways to do that, you can invest in gold coins or jewellery. Here are some ways:

Purchasing Jewelry –  In India, people love to invest in gold ornaments and jewellery. It can be used for investment as well as gifts for your loved ones during certain festivals and marriages. The market price of gold happens to be the actual price of the metal. Once you buy jewellery, the jeweller will levy making charges or labour charges on it as well. Therefore, make sure that you buy certified jewellery, so you can get the current exchange rate on your jewellery without making changes.

Gold bullions – Bullions are bigger in size as compared to gold coins. They are mostly purchased in kilograms. Gold is usually cast in the form of bars or slabs. They are purchased at the present gold price in any city. They are also considered to be a great medium of investment.

Exchange-Traded Funds – Investing in gold traded funds is a very lucrative option to keep your money safe without having to keep it with you. You can also exchange them for cash easily if you happen to need some money on an urgent basis.

Gold Schemes To Invest in Bhubaneswar

Gold saving schemes work very well for anybody who wants to save money for any big occasion such as weddings, anniversaries, and any other ceremony or occasion.

There are many gold schemes in Bhubaneswar to help you purchase gold. You can get them easily from some of the top jewellers in Bhubaneswar. You can also check for discounts on the making charges while you purchase the gold. However, you cannot expect a lot of discounts. It is also advisable to invest in certain gold schemes so that you can accumulate the gold for future purposes.

Some Interesting Facts on Gold

These are some of the facts on gold that investors should know.

  • Gold is not an oxidant.
  • Gold is softer than any other metals, and 1g of the precious metal can be easily beaten with a hammer.
  • Gold becomes very hard if it is alloyed with certain specific metals

Things to Consider Before Buying Gold Jewelry in Bhubaneswar

Today the gold rate in Bhubaneswar is subject to a lot of influential factors, but before purchasing it, it’s important to ascertain the factors listed below –

Purity – You simply can’t purchase gold without checking its purity. If you are purchasing jewellery or ornaments, it is recommended that you buy one. If it’s a gold coin or bullion, you can go for 24 karat gold, i.e. 99.99% purity level. You can also purchase around 14 karat gold jewellery with a 58.33% purity level and 18 karat gold ornaments with a 75% purity level.

Weight – The price of gold jewellery is calculated depending on its weight.  If you add any more stones to it, the weight will certainly increase along with the cost. During the purchase, you must ensure that you are not charged unnecessarily.

Certification – if you want to ensure the authenticity of your gold, then you have to ask your dealer to give you a purity certificate. The certificate allows you to exchange it in the future at the current market price.

Labor Charges – Every jeweller includes the making charges of the jewellery or labour charges in the total bill. This is the cost that goes into designing the jewellery. The labour charges will automatically be levied, and that’s how your total jewellery cost would come out.

Factors that Influence Gold Prices in Bhubaneswar

Factors that influence the gold prices are –

  1. International market fluctuations are one of the most important factors which influence the price of gold around the country. If there is a rise in global gold prices, then the price would increase accordingly.
  2. As the value of the rupee rises against the other currencies, globally, gold prices will decrease and vice versa. India imports gold from many other countries. Then, the government has to pay less to import it from other nations if it increases. If it decreases, the government is liable to pay more.
  3. The prices of gold in Bhubaneswar and the entire country are certainly influenced by the upsurge in demand and the supply during the festival season, such as the Diwali season, wedding season, or dhanteras.

KDM and Hallmarked Gold in Bhubaneswar

Hallmark – Hallmark jewellery is the definition of a quality certification according to the international standards of purity by the Bureau of Indian Standards. This depends on the composition of metal that is used for alloying and the purity levels of the gold used.

KDM – 92% of the gold is mixed with 8% of cadmium. This is how the alloy is formed. In the process of jewellery designing, older material is used, but the two metals, i.e. gold and solder material, have different melting points, so cadmium is now mixed with gold. This is why it is called KDM.

Understanding 916 Gold Price Today in Bhubaneswar

This is one of the most common questions in people’s minds. One needs to study the global trends that largely determine the 916 gold rate In Bhubaneswar. It is further affected by currency fluctuation. In India, 22 karat gold is considered to be 916 gold. Today’s gold rate in Bhubaneswar is affected by many factors, which include the rate of import duty.

If the import duty is less, the gold rate will be less as well in Bhubaneswar and vice versa. The gold rate In Bhubaneswar decreases when the government decreases the import tariff. In addition to the local tariffs, many factors may determine the rate of gold in Bhubaneswar. You check the 22-carat gold rate in Bhubaneswar today, and when it is less, you can buy it to make a profit.

Best Place to Buy Gold in Bhubaneswar

Anybody who is looking to buy or invest in gold or can check out various options.  You can check the current rates in Bhubaneswar online or in the newspaper, after which you can shop. There are many shops in different parts of the city. You can easily research the making charge of gold.

Buying a Gold Loan in Bangalore

You can easily get a gold loan against the gold you possess in any city, including Bhubaneswar. One has to make sure that you have enough money to be able to repay the amount. The gold insurance can easily confiscate the entire amount if you fail to pay it back. You can go to any bank or non-banking financial company to get a gold loan.

What are the Advantages and Disadvantages of Sovereign Gold Bond Scheme

Advantages of Sovereign Gold Bond Scheme:

  1. Sovereign Gold Bond Scheme can be purchased in both Demat form and paper form.
  2. The major benefit of those schemes is that they are backed by the Government.
  3. As you can keep it in digital form, you do not require to worry about its security.
  4. Do not fret about the purity of the gold as the bonds are in paper or electronic form.

Disadvantages of Sovereign Gold Bond Scheme:

  1. If the gold rate drops after you make the purchase, then that will be a capital loss of investment. And if you opt for a long-term plan, then you will not be affected by any price fluctuations.
  2. The procedure to switch your gold bonds into physical gold is quite tedious. And if you are planning to use the gold for personal requirements, then investing in bonds might not work well.

Gold Vs. Mutual Funds

MUTUAL FUNDS GOLD
Complicated
Less complicated
Greater market risk Involved
Based on global and few other factors it is easier to get a rough idea of the gold rates
Options to invest in Equity linked saving scheme (ELSS), Equity mutual funds, debt fund, liquid funds, etc.
Gold Funds and Gold ETFs
More opportunity cost
Less opportunity cost

About Bhubaneswar

Bhubaneswar is the capital and largest city of Odisha. Bhubaneswar was historically called Ekamra Kshetra. Bhubaneswar is dubbed as the “Temple City”. With the diverse ranges of heritage resources, it showcases many sacred cultural landscape components that have evolved with the support of available natural resource base and cultural trigger.


FAQs About Gold Rate in Bhubaneswar

What is the gold rate In Bhubaneswar for 916 hallmark gold?

The gold rate In Bhubaneswar for 916 hallmark gold is ₹ 44,250. The 916 KDM gold price is the same as the 22-carat hallmark gold.

What is the price of 1 gram of gold in Bhubaneswar today?

The price of 1 gm gold in Bhubaneswar today is ₹ 4,829 for 24 carats of gold and ₹ 44,250 for 22 carats of gold.

What is the rate of 23-carat gold in Bhubaneswar?

The rate of hallmark gold of 23-carat in Bhubaneswar is ₹ 48,290.

How is today’s gold rate in Bhubaneswar 916 determined?

The gold rate in Bhubaneswar are determined based on various factors such as the interest rates in the developed countries, demand for gold, wherein a lower demand for gold leads to low prices and higher demand leads to high prices. Further, the gold price in Bhubaneswar is also affected by Government policies related to tariffs on gold and the tariffs charged by the Local Governments.

What is the important checklist for buying gold in Bhubaneswar?

A checklist for buying gold in Bhubaneswar involves being mindful of the following things:

  • Check the gold rate In Bhubaneswar per gram: Checking out the gold rate In Bhubaneswar per gram is important, as you won’t end up paying more than the actual price. However, check the price from an authentic and reliable source.
  • Know about different purity levels: Before buying gold, the gold buyer must be aware of different purity levels in gold, such as 24 carats or 100% gold and 22 carats or 91.6% gold. Research about the purity level and pre-deicide the level you wish to for based on factors like price and usage of gold.
  • Ensure certification: Ensuring the certification of gold is the most important aspect to check the quality and purity of gold. Ensure that you buy hallmark gold or the gold with the BIS mark.
  • Be aware of the buy-back terms: Lastly, be aware of the lender’s buy-back policy that is the terms on the exchange of gold years later. Know whether the seller will obtain the gold at the same price or whether any cost-cutting is involved.
  • Collect bill: Most importantly, after buying the gold, do not forget to collect a bill from the seller. Collecting the bill will allow you to take action if the gold is impure or lacks in quality as promised by the seller.
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