Gold rate in Gaya
gold rate in gaya

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

The holy city of Gaya sits along the Falgu River in Bihar. This city is best known for the 18th-century Vishnupad Mandir. There is a reference to Gaya in the great epics - the Ramayana and the Mahabharata. The city of Gaya has a rich heritage. The same goes for gold, which has a long history and cultural significance to the town.Gold is primarily used for jewellery and as an investment throughout India, which is also the second-highest consumer of gold after China. Gold is considered a reliable investment  owing to its long-term appreciation. Gold is associated with weddings and auspicious festivals as a tradition and a symbol of wealth and status. According to the India Gold Policy Centre (IGPC) report, middle-income households (earning between ₹2 lakh and ₹10 lakh) purchased 56% of the gold sold in India over the past five years.

22K & 24K Gold Rates Per Gram in Gaya

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%)

Factors Affecting Gold Prices in Gaya

 

International Market

India is the second-largest consumer of gold in the world. Imports fulfil the majority of the gold demand in India. So, when gold prices rise overseas, they also increase in India.

Value of the Indian Rupee

Gold's spot price is determined by the London bullion market, which trades in dollars, euros and pounds. Due to this, the value of the Indian rupee against other currencies significantly impacts gold prices. When the rupee's value falls, the exchange rate increases, resulting in higher prices.

Festive and Wedding Seasons

The demand for gold usually increases during these seasons, and people buy gold in massive amounts. This results in higher prices. 

Rate of Interest

A fixed deposit (FD) is one of the most popular savings and investment instruments amongst Indian households. However, gold becomes a more attractive investment choice when interest rates fall. This is because gold has proven to yield high long-term returns.

Inflation

The price of gold often increases as a result of inflation. A common reason for purchasing gold is to counter inflation, which increases its demand, and in turn, its price. 6. Stock Market Correlation: Gold prices and the stock market have a negative correlation. During a decline in the stock market, investors usually place their surplus funds in safe assets such as gold.

Historical gold rates in Gaya 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%)

How Do GST & Import Duties Impact Gold Rates in Gaya?

There have been a few gold rate changes since the Goods and Services Tax (GST) implementation. 

Gold is subject to a 3% GST on its landed cost. 

A landed cost or landed price refers to the total cost of transporting a product from its source to its destination, including import duties and charges like Basic Customs Duty (BCD), Agriculture and Infrastructure Cess (AIDC), and Social Welfare Surcharge (SWS).

GST on the making charges of gold jewellery is 5%. Making charges constitute the cost incurred by a jeweller to convert raw gold into intricate jewellery designs.

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

How is the Purity of Gold Evaluated in Gaya?

Karat is the unit of measurement used to specify the purity of gold. The purity of 24-karat gold is 99.9%, making it the purest form of gold. Due to its softness and fragility, 24-karat gold is unsuitable for making ornaments or jewellery.

Pure gold is mixed with metals like zinc, copper, nickel and silver to impart its rigidity and hardness. Jewellery is typically made from 22-karat gold, which is more durable owing to its composition. 22-karat gold is made of 91.6% pure gold mixed with trace amounts of silver, zinc and copper.

You can determine the purity of gold jewellery by checking the hallmark. The Bureau of Indian Standards (BIS) issues hallmarks as an assurance of purity.

As per the Ministry of Consumer Affairs, you should look for the following marks when purchasing hallmarked gold jewellery:

  • BIS Mark or Logo
  • Purity in Karat or Fineness Number (e.g. 22K916, 18K750, 14K585)
  • Identification Mark or Number of the Assay Centre
  • Jeweller's Identification Mark or Number

The following hallmarks denote different purity levels of gold -

  • 999 hallmark - 24-karat gold - 99.9% purity
  • 916 hallmark - 22-karat gold - 91.6% purity
  • 750 hallmark - 18-karat gold - 75% purity
  • 585 hallmark - 14-karat gold - 58.5% purity

Trend of Gold rates in Gaya

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

How is the Purity of Gold Evaluated in Gaya?

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.

Frequently Asked Questions on Gold Price in Gaya
What is KDM gold?
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What are the measures that I need to exercise when buying gold?
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Which are among the top gold jewellers in Gaya?
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What are some of the possible ways to invest in gold?
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From where does India import gold?
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