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Gold Rate Madhya Pradesh

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Gold Rate Today in Madhya Pradesh
gold rate in Madhya Pradesh

24K Gold/ 10gm
22K Gold/ 10gm

Last updated on: 29th May 2023 10:40 AM

The northern Indian state of Madhya Pradesh is known for its cultural wealth and being home to Nalanda, one of India's oldest and most prestigious educational institutions. When it comes to jewellery, gold is an integral part of everyone's daily lives, yet the people of this state are known for their sophisticated language and refined art, as well as for their simple tastes and modest ways of living. Even if it's just a small piece of ornament, it's not uncommon to see a woman from this state decked up in gold jewellery. However, as compared to the other states of India, Madhya Pradesh's rates are set according to national averages for the gold price and regional pricing.

Gold Rate Comparison - 22K vs 24K


Critical Considerations for Purchasing Gold In Madhya Pradesh

Standards Of Purity

The purest kind is 24-karat gold, which is 99.9% pure. Available grades include 22-karat, 18-karat, 14-karat, 10-karat, etc.

Validation by BIS

Gold purity is guaranteed by the Bureau of Indian Standards (BIS). The most common form of gold is 916 gold, which has a purity of 91.6 grams per 100 grams and is priced according to the Madhya Pradesh market price for 22-karat gold.

Average Daily Prices For Gold

Gold prices constantly fluctuate on the global commodities market and can change anytime, anywhere. Therefore, check the current price of gold in Madhya Pradesh before making any gold investments.

Buyback Specifics

Preserving the worth of your gold jewellery depends on the buyback provisions. In Madhya Pradesh, the rate of gold is usually higher than in other states, yet many jewellery stores still promise to buy back clients' gold at a higher cost.

Master The Art of Recognizing Gold

Most gold jewellery has a 22-karat rating. Be aware that processing and making charges may cause the price of white and rose gold to be higher than the daily gold rates.

Making Charges

Over and above the going pricing for gold in Madhya Pradesh, it might be anything from 10% to 20%.

Today's 22K & 24K Gold Rates Per Gram in Madhya Pradesh

1 gram
-8.00 (-0.13%)
13.00 (0.22%)
8 grams
-64.00 (-0.13%)
104.00 (0.22%)
10 grams
-80.00 (-0.13%)
130.00 (0.22%)
100 grams
-800.00 (-0.13%)
1300.00 (0.22%)

How To Invest In Gold

Gold is a secure investment with strong historical appreciation in Madhya Pradesh. Many Indians also invest in other markets, such as real estate, but gold is prominent in their overall portfolios.

Buying gold jewellery is still the most common method of investing in gold in Madhya Pradesh. This is because gold has long been viewed as a secure and straightforward investment. Thus, it is famous for people of all socioeconomic backgrounds to purchase it on festive and momentous occasions. However, the one catch with gold jewellery is that you may have to pay an additional 10% for the production fees. 

When you sell your jewellery, you may not get the same amount you paid because tastes and styles shift—selling jewellery to a buyer other than the one from whom it was originally purchased may incur additional fees. Although buying gold jewellery for immediate usage is an option, there are now more practical and affordable ways to store gold long-term than purchasing jewellery.

Traditionally, people in Madhya Pradesh have put their money into gold through coins, bars, and jewellery. However, new channels for investing in gold have emerged in recent years, giving traders more options. Gold-related equities and mutual funds are now available to the investing public. ETFs (Exchange Traded Funds) are one example of a specific financial vehicle that combines the adaptability of stock investments with the ease of gold investments.

Historical Gold Rate in Madhya Pradesh for Last 10 Days

10 grams
Day24K Gold22K Gold
29 May 2023
130.00 (0.22%)
119.17 (0.18%)
26 May 2023
-80.00 (-0.13%)
-73.34 (-0.11%)
25 May 2023
-460.00 (-0.77%)
-421.68 (-0.65%)
24 May 2023
-270.00 (-0.45%)
-247.51 (-0.38%)
23 May 2023
-90.00 (-0.15%)
-82.50 (-0.13%)
22 May 2023
-80.00 (-0.13%)
-73.34 (-0.11%)
19 May 2023
690.00 (1.14%)
632.52 (0.96%)
18 May 2023
-890.00 (-1.49%)
-815.86 (-1.25%)
17 May 2023
300.00 (0.49%)
275.01 (0.41%)
16 May 2023
-770.00 (-1.27%)
-705.86 (-1.07%)

How is the Purity of Gold Evaluated in Madhya Pradesh?

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.

What Factors Impact Madhya Pradesh's Gold Price?

The demand for gold in MP drives up the price of the precious metal, as do the import levies, which are tied to the US dollar's value and to changes in that currency's value. Moreover, inflation and prices have increased since the pandemic, while interest rates have decreased. Finally, the combination of unstable stock markets, rising international gold prices, and investors' ready access to large sums of cash have led to record levels of gold buying. Here are some more factors:

Investment In Mining And Manufacturing

The high energy consumption of the gold produced in gold mining is reflected in the pricing. Therefore, mining companies may raise the price of gold to cover rising production expenses.

Costs On A Global Scale

Gold prices in Madhya Pradesh follow the global market. Therefore, a rise in the price of gold outside means a similar increase in the state. For instance, the worldwide price of gold is likely to rise when government banks buy it against an inflation hedge.It's crucial to remember that gold prices in Madhya Pradesh's various cities might vary widely. The leading causes of the pricing discrepancies at home for gold are:

Expenses Incurred Due To Transportation

Most of Madhya Pradesh's gold supply comes from outside the state. However, given the expense of transporting the precious metal, locations close to ports typically have slightly lesser prices than places further inland.

Spending By The State

Costs in Madhya Pradesh vary from state to state because each municipality has its tax structure.

Demand In Various Cities

The population of Madhya Pradesh, one of India's largest states, is highly varied. Gold is more expensive in rural locations with a smaller population than in urban areas with a larger one. Gold prices are slightly lower in large cities because of the high volume of trading that takes place there. Substantial gold demand cities like Mumbai, Delhi, Chennai, and have slightly cheaper pricing than the rest of India.

FAQs of Gold Rate in Madhya Pradesh

Is there a correlation between the interest rate on fixed deposits and Madhya Pradesh's gold prices?


Gold prices in Madhya Pradesh are sensitive to movements in the interest rates paid on fixed deposits.

Is it true that gold costs the same in Madhya Pradesh as in other Indian cities?


What's the deal with 22-karat vs. 24-karat gold?


Which place in the world has the lowest gold prices?


What influences the cost of gold in the state of Madhya Pradesh?


Disclaimer: Wint Wealth makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are subject to change with market value and are provided on an as-is basis. Wint Wealth has no commercial interest or gain in or from the actions resulting from the information displayed on this page. Nothing contained herein is intended to or shall be deemed to be investment advice, implied or otherwise. You are advised to make your own enquiries, consult a professional advisor and verify the information prior to taking any investment decisions. We accept no liability for any loss arising from the use of the data contained on this website.