Gold rate in Bhadravathi
gold rate in bhadravathi

24K Gold/ 10gm
57,490.00
0.00(0.00%)
22K Gold/ 10gm
54,750.00
0.00(0.00%)

Last updated on: 3th Feb 2023 10:00 AM

Bhadravati is the epicentre for iron and steel enterprises in the state of Karnataka.

The city has rich mineral deposits such as iron, limestone and manganese. It also has the Bhadra hydropower project, which fulfils the power needs of all the steelmaking enterprises in Bhadravati city. As a city that powers many different industries, Bhadravati is prosperous and thus has a healthy demand for gold throughout the year. 

The gold rates in Bhadravati are highly affected by local and global factors. Thus, there are constant fluctuations in gold rates throughout the city due to these factors.

22K & 24K Gold Rates Per Gram in Bhadravathi

24K
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GramYesterdayToday
1gm
5,749.00
0.00 (0.00%)
5,749.00
0.00 (0.00%)
8gm
45,992.00
0.00 (0.00%)
45,992.00
0.00 (0.00%)
10gm
57,490.00
0.00 (0.00%)
57,490.00
0.00 (0.00%)
100gm
5,74,900.00
0.00 (0.00%)
5,74,900.00
0.00 (0.00%)

Factors Affecting the Gold Prices in Bhadravati 

Generally, gold prices rise or fall almost daily due to various factors. These factors include demand, supply and federal rates. Hence, we see constant fluctuations in gold prices in the country across states and cities.

There's a slight difference in the gold prices of different cities due to differences in supply and demand. While some factors might affect all cities across the country, a few factors are location-specific that only affect a few cities based upon their location. 

Here are a few such factors that impact the price of gold: 

Government Regulations: Government regulations relating to taxes and duties heavily impact rates of metals, especially gold. If the government wants more gold involvement in the economy, it will relax the taxes, which will make the gold price rally downwards. On the contrary, the government may increase the implied rates of GST on gold to reduce gold consumption. For instance, 3% GST is charged on gold at present. Over and above this, the local governments can also vary the tax rates at their convenience.

Geopolitical Factors: Since gold is considered a "safe haven" for investment worldwide, its prices are also affected majorly by geopolitical factors such as war tensions, equity markets, and inflation rates. As gold provides a shield against uncertainties, investors tend to turn towards gold during market volatility. This increases the demand, followed by higher prices of gold during geopolitical tensions. Hence, geopolitical concerns indirectly affect the gold rates.

Demand Supply Dynamics: As a thumb rule of pricing, a slight increase in demand for gold can rally gold prices upward by a considerable margin. The demand hike can be time specific such as during festivals or the wedding season. During this time of the year, gold prices are high comparatively. Rapid gold mining and production increase the supply, which lowers the prices. Hence, the demand and supply dynamics of gold have the most direct impact on its pricing.

Federal Rates: Federal rates include the dollar value and interest rates by the US Central bank. As gold is valued in dollars in international markets, the slightest change in interest rates or currency rates can take gold prices either to the sky or down in the dumps. So, any valuation shift of the US Dollar in the forex market can indirectly affect the gold rates globally.

Historical gold rates in Bhadravathi in last 10 days

1 gram
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Day24K Gold22K Gold
04 Feb 2023
5,749.00
0.00 (0.00%)
5,475.00
0.00 (0.00%)
03 Feb 2023
5,749.00
0.00 (0.00%)
5,475.00
0.00 (0.00%)
02 Feb 2023
5,749.00
89.00 (1.58%)
5,475.00
85.00 (1.58%)
01 Feb 2023
5,660.00
27.00 (0.48%)
5,390.00
25.00 (0.47%)
31 Jan 2023
5,633.00
-16.00 (-0.28%)
5,365.00
-15.00 (-0.27%)
30 Jan 2023
5,649.00
0.00 (0.00%)
5,380.00
0.00 (0.00%)
29 Jan 2023
5,649.00
0.00 (0.00%)
5,380.00
0.00 (0.00%)
28 Jan 2023
5,649.00
16.00 (0.29%)
5,380.00
15.00 (0.28%)
27 Jan 2023
5,633.00
-63.00 (-1.10%)
5,365.00
-60.00 (-1.10%)
26 Jan 2023
5,696.00
42.00 (0.75%)
5,425.00
40.00 (0.75%)

Investment Options for Gold in Bhadravati 

In Bhadravati and even in other parts of the country in general, the majority of gold is bought in the form of coins and jewellery. However, there are several other gold investment avenues. To simplify, here are two mainstream investment options for gold.

Physical Purchase of Gold 

Indian tradition includes gifting gold jewellery during weddings and other auspicious ceremonies. In this regard, gold is bought physically in various forms, such as coins and jewellery, and purity grades, such as 24-karat and 22-karat gold. Physical gold also requires hallmarking and a jeweller identification number for purity and authenticity checks. Over and above the gold price, it also includes the making charges of converting the gold into jewellery.

Gold in Paper Form 

If you plan to buy gold as an investment, paper gold is a better alternative. This includes gold mutual funds, gold exchange-traded funds (ETFs) and Sovereign Gold Bonds (SGB). All of these investment options have gold as an underlying asset, and they track gold prices. Also, you don't have to bear making charges while investing in digital gold. Hence, comparatively, paper or digital gold is a more hassle-free method of investing in gold.

 

Weekly & monthly gold rate in Bhadravathi
1 gram
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7 Days
30 Days
3 Months
6 Months
24K GOLD
22K GOLD

Gold vs. FD

Both gold and fixed deposits are popular investment instruments. However, both share some differences, too. To begin with, returns from FD are guaranteed and fixed. Market fluctuations or economic conditions don’t affect your interest income.

On the other hand, gold rates can fluctuate. This is because gold rates get decided daily. They could go up or down based on economic conditions. But per historical trends, gold rates have always gone up in the longer term.

Trend of Gold rates in Bhadravathi

1 gram
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Day24K Gold22K Gold
01 February 202356605390
05 February 202300
Highest57495475
Lowest56605390

How is the Purity of Gold Evaluated in Bhadravathi?

Gold is valuable only when it is pure. There are instances where customers are duped with impure gold. Hence, confirming the purity of gold is crucial.

The Bureau of Indian Standards (BIS) is a government authority that certifies the purity of gold. According to BIS, the following factors are to be kept in mind when buying gold.

  1. BIS Mark

    Jewellery hallmarked by BIS will have a BIS logo on it. Remember that since BIS is the only authorized laboratory in India for gold certification.

  2. Karat

    Karat is a scale to gauge gold's purity. While 24 karat gold is the purest, it is too soft for use. Hence, other metals are added and the gold available in the market is often 22 Karat.

  3. Jewellers Identification Mark

    The gold you buy should also carry an identification mark by an authorized jeweller. This helps ensure the gold is from a credible source. The mark can also be helpful in the case of disputes.

FAQs of Gold price in Bhadravathi

What are Sovereign Gold Bonds?

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How many types of duties are imposed on gold?

 

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How many grams of gold are present in one 'tola' of gold?

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What is the difference between 22-karat and 24-karat gold in Bhadravati?

 

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