Gold rate in Bhagalpur
gold rate in bhagalpur

24K Gold/ 10gm
57,910.00
0.00(0.00%)
22K Gold/ 10gm
55,150.00
0.00(0.00%)

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

Wondering whether to invest in gold jewellery in Bhagalpur? The overall forecast is encouraging from an investment perspective. India's gems and jewellery exports are expected to reach USD 100 billion by 2025. In 2021–22, gems and jewellery exports from India reached USD 39.14 billion. Bhagalpur, the second largest city of Bihar, shows a robust demand for gold as an investment tool.

 

Bhagalpur is known for its Bhagalpuri or Tussar silk saris and its vibrant annual festivities, such as Kali Puja. Like the rest of India, the people of Bhagalpur use festivals and special occasions to make good investment choices, like buying gold or investing in gold-related assets. Let us look at the gold rate in Bhagalpur, understand what 24-karat gold refers to, and factors to consider while checking the purity of gold.

22K & 24K Gold Rates Per Gram in Bhagalpur

24K
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GramYesterdayToday
1gm
5,791.00
0.00 (0.00%)
5,791.00
0.00 (0.00%)
8gm
46,328.00
0.00 (0.00%)
46,328.00
0.00 (0.00%)
10gm
57,910.00
0.00 (0.00%)
57,910.00
0.00 (0.00%)
100gm
5,79,100.00
0.00 (0.00%)
5,79,100.00
0.00 (0.00%)

What is 24K gold?

While gold's weight is measured in troy ounces (1 troy ounce = 31.1034768 grams), its purity is measured in karats (K). You may come across the following varieties of gold:

  • 24K gold
  • 22K gold
  • 18K gold
  • 14K gold

24K gold, also known as pure gold or fine gold, is a type of gold that is 99.9% pure. It is the highest quality and purity of gold that is commercially available. Because it is so pure, 24K gold is very soft and malleable, which makes it suitable for investment purposes but not ideal for making jewelry.

24K gold is often used to make coins, bars, and other forms of bullion for investment purposes. It is also sometimes used to make gold leaf and other decorative items.

In jewelry, 24K gold is often mixed with other metals to increase its durability and strength. The most common alloys used to make 24K gold jewelry are 22K gold (which contains 91.6% gold and 8.4% other metals) and 18K gold (which contains 75% gold and 25% other metals).

It's important to note that the karatage of gold indicates the proportion of gold in the alloy and not the weight of the gold. For example, a piece of jewelry made of 18K gold will contain 18 parts gold and 6 parts other metals, but the weight of the gold may vary depending on the size and design of the piece.

Historical gold rates in Bhagalpur in last 10 days

1 gram
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Day24K Gold22K Gold
04 Feb 2023
5,791.00
0.00 (0.00%)
5,515.00
0.00 (0.00%)
03 Feb 2023
5,791.00
0.00 (0.00%)
5,515.00
0.00 (0.00%)
02 Feb 2023
5,791.00
89.00 (1.57%)
5,515.00
85.00 (1.57%)
01 Feb 2023
5,702.00
27.00 (0.48%)
5,430.00
25.00 (0.47%)
31 Jan 2023
5,675.00
-16.00 (-0.28%)
5,405.00
-15.00 (-0.27%)
30 Jan 2023
5,691.00
0.00 (0.00%)
5,420.00
0.00 (0.00%)
29 Jan 2023
5,691.00
0.00 (0.00%)
5,420.00
0.00 (0.00%)
28 Jan 2023
5,691.00
16.00 (0.29%)
5,420.00
15.00 (0.28%)
27 Jan 2023
5,675.00
-63.00 (-1.09%)
5,405.00
-60.00 (-1.09%)
26 Jan 2023
5,738.00
42.00 (0.74%)
5,465.00
40.00 (0.74%)

Alternatives to Physical Gold in Bhagalpur

 

There are several alternatives to physical gold that investors can consider in Bhagalpur. These include:

  1. Sovereign gold bonds (SGBs): SGBs are financial instruments issued by the Government of India that allow investors to hold gold in the form of a bond. The bonds are denominated in grams of gold and are backed by the Government of India. SGBs offer investors the opportunity to earn interest on their investments and trade the bonds on the stock exchange.
  2. Gold exchange-traded funds (ETFs): Gold ETFs are investment instruments that track the price of gold and are traded on the stock exchange. They offer investors the opportunity to invest in gold without having to physically buy and store the metal. Gold ETFs can be bought and sold through a brokerage account.
  3. Gold mutual funds: Gold mutual funds invest in gold-related securities, such as gold mining companies and gold ETFs. They offer investors the opportunity to invest in gold indirectly and can be a good option for those who do not want to invest in physical gold or gold ETFs.
  4. Digital gold: Digital gold is a newer option that allows investors to buy and sell gold online. It is similar to gold ETFs in that it tracks the price of gold, but it is stored and traded electronically. Digital gold can be bought and sold through online platforms and does not require physical storage.

It's important to note that each of these alternatives carries its own set of risks and considerations. Investors should carefully research and evaluate the pros and cons of each option before making a decision.

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

How to check the purity of gold in Bhagalpur

 

There are several ways to check the purity of gold:

  1. Assay: An assay is a laboratory test that determines the purity of gold. To conduct an assay, a small sample of the gold is melted and analyzed to determine the proportion of gold in the sample. Assays are generally considered to be the most accurate method for determining the purity of gold, but they can be costly and time-consuming.
  2. Gold hallmark: A gold hallmark is a certification mark that indicates that a piece of gold jewelry has been tested and meets the standards set by the Bureau of Indian Standards (BIS). Gold jewelry that bears the BIS hallmark is considered to be of high quality and purity.
  3. Acid test: An acid test is a simple and inexpensive way to check the purity of gold. To conduct an acid test, a small drop of acid is placed on the surface of the gold. The acid reacts with the gold in a specific way depending on the purity of the gold. This method is not as accurate as an assay, but it can give you a rough idea of the purity of the gold.
  4. Electronic gold testers: Electronic gold testers use technology to determine the purity of gold. They are generally accurate, but they can be expensive and may not be suitable for testing small or irregularly shaped pieces of gold.

It's important to note that these methods may not be 100% accurate, and the results should be used as a guide rather than a definitive measurement of the purity of the gold.

Trend of Gold rates in Bhagalpur

1 gram
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Day24K Gold22K Gold
01 February 202357025430
05 February 202300
Highest57915515
Lowest57025430

What is the Impact of Central Bank Policies on Gold Rates?

 

The Reserve Bank of India (RBI) and the Central banks of most countries aim to achieve larger economic goals like low inflation and high economic growth through their policies. The monetary policies of the RBI directly affect the money supply growth, which, when seen in the long term, is a determinant of the rate of inflation.

During inflation, gold acts as a safety net for its investors. When the cost of living increases, interest rates and gold prices also go up, and people can sell their gold for good money. Now, with more gold in the market, its supply increases.

With a greater supply of gold, its rate decreases. On the other hand, if the interest rates are lowered, people will buy more gold, leading to a greater demand for gold. The raised demand for gold will mean lesser gold in the market and, therefore, an increase in the rate of gold.

FAQs of Gold price in Bhagalpur

Can I sell the gold coins bought from the banks back to them?

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Post the implementation of GST, am I paying a higher or lower price for my gold purchase?

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Which are the top gold jewellers in Bhagalpur?

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Which factors should one take into account before buying gold jewellery in Bhagalpur?

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