Last updated on: 29th Jan 2023 9:00 AM
Bokaro, officially known as Bokaro Steel City, is the fourth-largest city of Jharkhand. It is home to the country's first Swadeshi steel plant - a state-of-the-art facility dating back over 5 decades.
Surrounded by the Chotanagpur Plateau, Bokaro Steel has emerged as a centre of business, sports, industry and healthcare. It is the economic nerve centre of Jharkhand, where people find various ways to invest in gold - from jewellery to gold mutual funds.
To buy gold in Bokaro Steel, it is crucial to understand the ongoing gold rates and what causes them to fluctuate. So, to make your purchase decision easier, here's a look at the gold prices in the city, reasons why they change often and more.
|Day||24K Gold||22K Gold|
|30 Jan 2023|
|29 Jan 2023|
|28 Jan 2023|
|27 Jan 2023|
|26 Jan 2023|
|25 Jan 2023|
|24 Jan 2023|
|23 Jan 2023|
|22 Jan 2023|
|21 Jan 2023|
The Goods and Services Tax (GST) is a consumption tax that is applied to the sale of goods and services in Bokaro. The GST rate for gold and other precious metals is 3%.
The GST rate for gold applies to both gold jewelry and gold bullion, such as coins and bars. When you purchase gold, the GST is calculated on the basis of the value of the gold, including the cost of the gold itself and any other charges, such as making charges or transportation charges.
The GST rate for gold can have an impact on the gold rate in Bokaro. When the GST rate for gold is increased, the price of gold may also increase, as the cost of the gold will include the GST. Similarly, when the GST rate for gold is decreased, the price of gold may also decrease.
It's worth noting that the GST rate for gold is only one factor that can impact the gold rate in Bokaro. Other factors that can affect the gold rate include global demand and supply of gold, economic conditions, and currency exchange rates.
To understand the meaning of 916 hallmarked gold in Bokaro Steel, let us first decode the terms hallmarking and 916.
Hallmark is a stamp of gold's authenticity and fineness. The Bureau of Indian Standards (BIS), a Government-managed institution, is responsible for hallmarking gold in India. To do this, gold is tested at over 330 assaying or hallmarking centres across the country.
On the other hand, 916 gold is nothing but 22-Karat gold. The numeric 916 is an ode to the percentage of pure gold in 22-Karat (91.6%). Simply put, 916 or 22-Karat gold has 91.6% gold mixed with other metals like copper or silver.
Hence, 916 hallmarked gold is a stamp that marks the authenticity of gold in the final product.
|Day||24K Gold||22K Gold|
|01 January 2023||5465||5205|
|30 January 2023||5691||5420|
In Bokaro Steel, physical gold is the most popular form of gold purchase. Many people choose to invest in gold bars and coins in addition to purchasing gold jewellery for special occasions like weddings.
Government securities known as SGBs are measured in grammes of gold. They act as a stand-in for holding real gold. When they are first released, you can buy them and then redeem those for cash when they reach maturity.
You can invest in digital gold by using your smartphone and a number of payment platforms (PayTM, PhonePe, etc.). Digital wallets are used to store this gold in electronic form. You can start investing for as little as ₹1.
A gold ETF is an exchange-traded fund (ETF) that follows the domestic physical gold price. They are passive investment instruments based on gold prices that invest in gold bullion.
These funds are kept in dematerialized form and available for stock exchange trading. 1 gramme of gold equals 1 gold ETF unit.
Is it mandatory for all jewellery pieces sold in Bokaro steel to carry the hallmark?
Are 22-Karat and 24-Karat gold rates different in Bokaro?
What are some of the most popular jewellers in Bokaro?
What things do I keep in mind before buying gold jewellery in Bokaro?
gold rates in Popular cities of IndiaGold rate in Mumbai