Gold rate in Bikaner
gold rate in bikaner

24K Gold/ 10gm
57,480.00
0.00(0.00%)
22K Gold/ 10gm
54,740.00
0.00(0.00%)

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

Bikaner is a historical city situated in northern Rajasthan. It is known for its royal connections and unique dunes. The regal past of the town displays its opulence through the grand palaces and forts. In addition, the region boasts some of the best riding camels in the world, earning it the title 'camel country.' Another unique aspect of the city is the buzzing markets. Besides colourful local merchandise, they trade in various commodities, including gold.

22K & 24K Gold Rates Per Gram in Bikaner

24K
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GramYesterdayToday
1gm
5,748.00
0.00 (0.00%)
5,748.00
0.00 (0.00%)
8gm
45,984.00
0.00 (0.00%)
45,984.00
0.00 (0.00%)
10gm
57,480.00
0.00 (0.00%)
57,480.00
0.00 (0.00%)
100gm
5,74,800.00
0.00 (0.00%)
5,74,800.00
0.00 (0.00%)

Top Factors Influencing Gold Prices in Bikaner

Numerous factors influence the gold rates in Bikaner. Let's look at some of them:

  • International Gold Prices
    Since India imports gold in significant quantities, any change in the international gold rates has a bearing on gold prices in India. If the global gold prices rise, the gold prices in Bikaner also tend to rise and vice versa.
  • Rupee Vs Dollar
    If the Indian Rupee weakens against the US Dollar (USD), the gold prices in Bikaner will rise as gold is traded internationally in USD. Similarly, if the Indian Rupee strengthens vis-a-vis the US Dollar, the gold prices will fall.
  • Inflation
    When inflation is high, gold prices tend to rise. Since gold is believed to be a hedge against inflation, people tend to hold on to gold in the face of a declining currency.
  • Seasonal Demand
    The demand for gold increases during weddings and festivities. This surge in demand causes gold prices in the jewellery markets to rise.
  • Monsoon Season
    Bikaner is surrounded by villages whose sustenance depends on agriculture. Hence, a good monsoon impacts gold rates in the city. A fruitful monsoon season leads to better agricultural yield, prompting farmers to invest in gold. This hike in demand drives up gold prices.
  • Interest Rates
    Interest rates and gold prices share an inverse relation. When interest rates rise, people tend to sell their gold and invest in fixed-income instruments. As the demand for gold falls, the prices drop. Similarly, when interest rates go up, investors may prefer gold over fixed deposits, increasing the demand for gold and driving up prices.

Impact of GST on Gold Rate in Bikaner

The Goods and Services Tax (GST) has had a significant impact on the gold rate in Bikaner. Before GST implementation, buyers had to pay 1% service tax and 1% Value Added Tax (VAT). So, in total, they paid a 2% tax over and above the selling price of the jewellery.

After GST was implemented, the Government fixed the rate of GST on gold at 3%. So, although by a marginal scale, the gold rates in Bikaner did increase with GST implementation.

Moreover, if you want to make gold jewellery, an additional 5% GST on the making charges will apply.

So, GST has led to an increase in gold prices in Bikaner.

Impact of Central Bank Policies on Bikaner Gold Rate

Since the start of 2018, the Reserve Bank of India has introduced a series of policy initiatives that impacted the gold price throughout India, including Bikaner. These include raising interest rates and reducing the supply of Rupees in circulation, thus increasing the gold price.

Further, the Government of India has been trying to reduce its exposure to volatile financial markets by increasing its gold reserves. This has caused the gold rate to rise.

Historical gold rates in Bikaner in last 10 days

1 gram
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Day24K Gold22K Gold
04 Feb 2023
5,748.00
0.00 (0.00%)
5,474.00
0.00 (0.00%)
03 Feb 2023
5,748.00
0.00 (0.00%)
5,474.00
0.00 (0.00%)
02 Feb 2023
5,748.00
90.00 (1.60%)
5,474.00
85.00 (1.58%)
01 Feb 2023
5,658.00
26.00 (0.47%)
5,389.00
25.00 (0.47%)
31 Jan 2023
5,632.00
-16.00 (-0.28%)
5,364.00
-15.00 (-0.27%)
30 Jan 2023
5,648.00
0.00 (0.00%)
5,379.00
0.00 (0.00%)
29 Jan 2023
5,648.00
0.00 (0.00%)
5,379.00
0.00 (0.00%)
28 Jan 2023
5,648.00
16.00 (0.29%)
5,379.00
15.00 (0.28%)
27 Jan 2023
5,632.00
-63.00 (-1.10%)
5,364.00
-60.00 (-1.10%)
26 Jan 2023
5,695.00
42.00 (0.75%)
5,424.00
40.00 (0.75%)

Who Decides the Gold Rates in Bikaner?

The IBJA (The Indian Bullion Jewellers Association) plays a vital role in determining the daily gold rates in Bikaner. IBJA consists of the country's most prominent gold dealers. They account for the lion’s share of gold that is sold and bought in the country and hence, has the power to determine the gold price across the country.

Banks are the largest importers of gold in the country. However, they add a fee to the imported gold before selling it to a supplier, increasing the purchase price at the source. By the time it reaches you, the price you pay for gold includes various charges. For instance, when you buy gold jewellery, you may also need to pay a making price.

Weekly & monthly gold rate in Bikaner
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 Bikaner

1 gram
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Day24K Gold22K Gold
01 February 202356585389
07 February 202300
Highest57485474
Lowest56585389

How is the Purity of Gold Evaluated in Bikaner?

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 Bikaner

What are the various options I have for investing gold in Bikaner?

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What is the meaning of 24-karat gold?

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

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How do I verify the purity of gold in Bikaner?

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