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Gold Rates Today in Patna
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Gold Rates Today in Patna

24K Gold/10 gm
₹71,240
As on 28 June 2024
420.00 (0.59%)
22K Gold/10 gm
₹67,850
As on 28 June 2024
400.00 (0.59%)

Gold holds immense cultural significance in Indian society, deeply rooted in traditions, rituals, and ceremonies. Renowned as a symbol of wealth, prosperity, and purity, gold is frequently associated with auspicious occasions such as weddings, festivals, and religious ceremonies. Beyond its cultural value, gold also serves as a prudent investment choice in Patna, offering stability and security amidst economic fluctuations. With an ancient history of upholding its value over time, gold serves as a hedge against inflation and currency depreciation, making it an essential component of a diversified investment portfolio. Its timeless charm surpasses generations, making it a cherished asset for both its cultural and financial significance in Patna.

Investors purchase large volumes of gold due to its status as a major hub for gold trading in Patna. Gold value today in Patna is often considered a safe investment during times of economic uncertainty. Patna's vibrant gold market, represented by numerous jewelry stores, bullion traders, and commodity exchanges, provides ample opportunities for investors to buy and sell gold in various forms, ranging from jewelry to bullion bars. Additionally, with Patna being one of the world's largest consumers of gold, demand remains consistently high, making Patna an attractive destination for investors seeking exposure to this precious metal.

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Gold Rates in Top cities
City name
Price
Change
22K & 24K Gold Rates Per Gram in Patna
Gram
Today
Yesterday
1 Gram
₹7,124
₹7,082
8 Gram
₹56,992
₹56,656
10 Gram
₹71,240
₹70,820
12 Gram
₹85,488
₹84,984

Importance of Gold Investment in Patna

Investing in gold holds significant importance. Historically, the Patna gold market today has been a store of value and a hedge against inflation, making it a reliable asset for investors seeking stability in uncertain economic times. In Patna, where the culture of gold holds deep cultural and social significance, investing in gold serves not only as a financial strategy but also as a cultural tradition.

With numerous jewelry stores and bullion dealers, the gold market offers ample opportunities for buying and selling gold, providing investors with liquidity and accessibility. Furthermore, with the rise of digital platforms and innovative investment products, such as gold ETFs and sovereign gold bonds, investors in Patna have diversified avenues to participate in the gold market, catering to traditional and modern investment preferences. Overall, investing in gold in Patna is not just a financial decision but a cultural norm deeply ingrained in the city's fabric, offering investors stability, liquidity, and a sense of tradition.

How is the Purity of Gold Evaluated in Patna?

In Patna, as in many other places, the purity of gold is typically evaluated using a method called "Caratage". This system measures the purity of gold in terms of karats, with 24 karats being the purest form of gold.

Here is a brief overview of how the purity of gold is evaluated in Patna:

  • Hallmarking: In India, hallmarking of gold jewelry is regulated by the Bureau of Indian Standards (BIS). Hallmarking involves stamping the gold jewelry with a mark that designates its purity. This mark usually includes the BIS logo, the purity in terms of karats (e.g., 22K, 18K), the year of hallmarking, and the jeweler's identification mark.

  • Acid Test: Another common method used by jewelers to evaluate the purity of gold is the acid test. A small scratch is made on the gold ornament, and different acids of varying strengths are applied to the scratch. Based on the reaction of the metal to the acid, the jeweler can determine the purity of the gold.

  • X-Ray Fluorescence (XRF) Analysis: Some modern jewelry stores in Patna may use XRF machines to accurately determine the purity of gold without damaging the jewelry. XRF analysis involves illuminating the gold with X-rays and measuring the fluorescence emitted by the gold atoms. This method provides a precise measurement of the gold's purity.

  • Electronic Gold Testing: Electronic gold testers are also used to evaluate the purity of gold quickly and accurately. These devices use conductivity or other properties of gold to determine its purity. They are especially useful for testing gold bars or coins.

  • Weighing and Calculation: In addition to assessing purity, jewelers also weigh the gold item to determine its mass. This, along with the purity assessment, helps calculate the value of the gold based on the current market rate.

Alternatives to Physical Gold in Patna

In Patna, there are several alternatives to physical gold for those looking to invest in precious metals or hedge against inflation. Here are some options:


  • Gold Exchange-Traded Funds (ETFs): Gold ETFs are financial products that track the gold price. Investors can buy and sell units of these funds on stock exchanges. They offer liquidity and convenience without the need for physical storage.

  • Gold Futures and Options: These are financial contracts where investors agree to buy or sell gold at a predetermined price at a future date. Futures and options enable investors to anticipate the price movements of gold without owning the physical metal.

  • Gold Sovereign Bonds: The Government of India issues Sovereign Gold Bonds (SGBs), which are denominated in grams of gold. These bonds offer an interest rate along with the potential for capital appreciation linked to the price of gold. SGBs also provide tax benefits.

  • Gold Saving Schemes: As per Patna's current gold rate, many banks and jewelers offer gold-saving schemes where investors can methodically accumulate gold over time by making regular payments. These schemes often come with added benefits such as discounts or bonuses.

  • Gold Mining Stocks: Investing in gold mining companies stocks provides exposure to the gold industry without owning physical gold. However, it is significant to research and choose companies wisely as stock prices can be volatile and influenced by factors beyond just the price of gold.

  • Gold Mutual Funds: These funds invest in a diversified portfolio of gold-related assets, including stocks of gold mining companies, gold ETFs, and other gold-related securities. They provide professional management and diversification.

  • Digital Gold Platforms: Digital gold platforms are online platforms that enable investors to buy, sell, and trade gold digitally. These platforms provide a convenient way for people to invest in gold without physically owning it.

Before investing in any of these alternatives, it is vital to conduct thorough research and consider your investment goals and risk tolerance as each option has its own set of benefits, risks, and considerations.

FAQs on Gold Rates in Patna

You can find the most accurate and updated gold rates in Patna through reputable financial websites, and applications or by directly contacting local jewellery shops and banks.

The gold rate fluctuates daily in Patna due to numerous factors including changes in supply and demand, economic indicators, geopolitical events, and currency fluctuations.

The gold rate in Patna is determined primarily by international gold prices, import duties, currency exchange rates, local taxes, and market demand and supply dynamics.

The difference between 22K and 24K gold rates in Patna fluctuates but typically reflects the variance in purity, with 24K being the highest purity and usually priced higher than 22K.

Gold rates can vary slightly among different jewellers in Patna due to factors such as overhead costs and business practices.

You can track Patna gold rate now through financial news websites, dedicated gold price tracking apps, or by contacting local jewellers for updates.

Making charges are the fees levied by jewellers for the labour and craftsmanship involved in creating gold jewellery, influencing the final price by adding to the cost of the raw materials.

Yes, there can be a difference in gold rates for coins and jewellery in Patna, as jewellers often levy making chargers to jewellery prices, whereas gold coins typically have a lower premium over the prevailing gold market rates.

In Patna, buying gold incurs a Goods and Services Tax (GST) of 3% on the value of the gold and 5% on making chargers, along with any applicable customs duty if the gold is imported.

Yes, you can buy gold online in Patna through various authorized dealers and platforms offering secure transactions and delivery options.

You can verify the purity of gold bought in Patna by checking for hallmark certification, which guarantees the quality and purity of the gold.

International gold prices directly influence the gold rate in Patna as local prices are often tied to global market trends and fluctuations.

When buying gold in Patna as an investment, consider factors such as purity, authenticity, current market prices, and reputable jewellers.

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