Gold rate in Deoghar
gold rate in deoghar

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

Deoghar is a holy city based in the state of Jharkhand, India. Deoghar literally means home to the gods and goddesses. It is one of the most important and sacred destinations for Hindus. Just like any other Indian city, Deoghar is also a city that consumes precious metals for investment purposes. The yellow metal is mostly used for investment purposes and jewellery consumption during a wedding and festive seasons.

Gold price is unstable and keeps changing on a daily basis. These changes depend on many factors. If you are looking to purchase gold in Deoghar, you can purchase it from jewellery stores and banks. There is a lot of ornaments store that buy and sell gold. However, whenever you go out to buy gold jewellery, there are certain things you should always keep in mind.  

Since many do sell bogus and low-quality gold, it is highly suggested to cater to a few things while going to purchase gold from anywhere. This article will talk about gold prices and their purity and genuineness and other things that should be kept in mind.

22K & 24K Gold Rates Per Gram in Deoghar

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%)

Why Do the Gold Prices Keep Changing?

There are many reasons why gold prices keep changing. Here are the reasons listed below.

Demand and supply

Have you encountered a situation where you find out that the gold prices are generally high in festive and wedding seasons? This is due to the movement of demand and supply. When demand is high gold prices go up, even if supply is low, the price of gold goes up.

Import duty

India imports a large quantity of gold. We all know India is an import-dependent country. Hence government know that import duty on gold can bring them money. Hence import duty adds up to the overall price change in gold.

Government policies on gold (RBI)

Did you know? Every central bank of a country hoards gold to safeguard its country’s economy. When RBI starts buying and hoarding gold, the price of gold generally goes up and this changes the overall price of the gold. And later the burden of the price rise goes to the consumer.

Inflation

Inflation happens due to many factors on the demand-supply side. As currently, India’s inflation rate is mongering around 6%. Hence there is a general rise in the price of goods & services by 6% in whatever case. Many of us fail to understand the effect of inflation but it cost the consumer much more than we think. Hence, the gold price changes according to the inflation rate of the time.

Historical gold rates in Deoghar 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%)

Who Decides the Gold Price in Deoghar?

Apart from other factors like demand, supply, and market conditions that determine the price of gold. The Indian Bullion Jewellers Association (IBJA) also comes up with the price of gold for the day. They seek prices from major gold dealers and then considering other factors they come up with the mean gold price for the day. Many factors of consideration are taken into before coming to the price of the yellow metal.

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

Impact of GST on Gold Price?

Since yellow metal is a lucrative business, the government leaves no stone unturned when it comes to adding tax to it. As we all can observe that gold rates are skyrocketing every single day, but the rise in prices is not only coming from one side but from other sides as well. A GST on gold has further increased the price of gold and put the onus on consumers.  

Currently, the government charges 3% GST across India on the sale and purchase of gold ornaments and jewellery.

Trend of Gold rates in Deoghar

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

Here Is the List of Other Alternatives to Physical Gold.

You must be aware that apart from buying physical gold, you can also get virtual and government-back gold certificates. These gold certificates have the same value as real gold and guarantee you the benefit of buying and selling the virtual gold certificate. Rather than people buying physical gold or bullion, they can also invest in other gold form options. Here is a list of other alternatives to physical gold.

  • Gold Monetization Scheme (GMS)
  • Sovereign Gold Bond Scheme (SGBS)
  • Digital Gold Investment
  • Gold Metal Loan Scheme
  • Gold Saving Account (GSA)

How Is the Purity of Gold Decided in Deoghar?

Every gold sold in the market is graded with purity level. And each purity level is decided by the Bureau of Indian Standards (BIS). BIS certifies gold with a hallmark of 916 engraved on the yellow metal. Similarly, Quality Control of India (QCI) also ensures the gold sold is of good and pure quality.

However, the certification of gold purity is based on the international standard of the London Bullion Market Association (LBMA) regulation. Every karat number shows the exact purity of the yellow metal. For instance, 18K gold contains 75% pure gold, 22K gold contains 91% pure gold and 24K gold contains 99.9% pure gold.

 

FAQs of Gold price in Deoghar

Who decides the purity and quality of gold?

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Which is more soft gold, 24K gold or 22K gold?

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Is the gold price of one place the same as that of another?

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What is one tola (tole) of gold?

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