Gold rate in Ratlam
gold rate in ratlam

24K Gold/ 10gm
57,260.00
0.00(0.00%)
22K Gold/ 10gm
54,530.00
0.00(0.00%)

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

Ratlam, historically known as 'Ratnapuri', is a city located in the Malwa region of Madhya Pradesh. It is famous for its precious gold jewellery, Ratlami Sev, Saros, and many spiritual and tourist attractions.

Like the rest of India, gold is integral to Ratlam's culture and history. During wedding seasons and festivals, the demand for gold increases significantly. On such occasions, people buy physical gold in significant quantities. However, physical gold alternatives, like digital or paper gold, are also getting popular.

Are you planning to invest in gold in Ratlam? Check the gold rates in Ratlam and learn what factors impact them.

22K & 24K Gold Rates Per Gram in Ratlam

24K
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GramYesterdayToday
1gm
5,726.00
0.00 (0.00%)
5,726.00
0.00 (0.00%)
8gm
45,808.00
0.00 (0.00%)
45,808.00
0.00 (0.00%)
10gm
57,260.00
0.00 (0.00%)
57,260.00
0.00 (0.00%)
100gm
5,72,600.00
0.00 (0.00%)
5,72,600.00
0.00 (0.00%)

How to Invest in Gold in Ratlam?

There are different ways to invest in gold in Ratlam. Traditionally, physical gold like jewellery or coins has been a popular choice. But, now digital and paper gold is in demand too.

  • Physical Gold
    You can buy physical gold from jewellers or financial institutions like banks and Non-banking Financial Companies (NBFCs). One disadvantage of owning gold in physical form is the risk of theft. In addition, it occupies space ,and you must find a place to store the gold securely. Prompted by these reasons, several people in Ratlam are turning to physical gold alternatives.
  • Gold Exchange Traded Funds (ETFs)
    Gold ETFs are paper or dematerialised units representing physical gold. Like regular ETFs, these are traded on stock exchanges. Each branch of the ETF equals one gram of physical gold of high purity. To invest in gold ETFs, a Demat account is mandatory.
  • Gold Mutual Funds
    Gold MFs are mutual funds that invest in shares of companies engaged in gold production, mining and manufacturing. The underlying asset of the fund is physical gold.
  • Sovereign Gold Bonds (SGBs)
    Issues by the Reserve Bank of India, SGBs are Government securities denominated by physical gold. Hence, it is yet another alternative to buying gold in its physical form. However, remember that you can redeem your investment only in cash.
  • Digital Gold
    Digital gold is a way of investing in gold virtually—several online platforms in India trade in digital gold. The best is that you can buy and store your gold in a vault, secured and provided by the seller.

Historical gold rates in Ratlam in last 10 days

1 gram
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Day24K Gold22K Gold
04 Feb 2023
5,726.00
0.00 (0.00%)
5,453.00
0.00 (0.00%)
03 Feb 2023
5,726.00
0.00 (0.00%)
5,453.00
0.00 (0.00%)
02 Feb 2023
5,726.00
90.00 (1.60%)
5,453.00
85.00 (1.59%)
01 Feb 2023
5,636.00
26.00 (0.47%)
5,368.00
25.00 (0.47%)
31 Jan 2023
5,610.00
-16.00 (-0.28%)
5,343.00
-15.00 (-0.27%)
30 Jan 2023
5,626.00
0.00 (0.00%)
5,358.00
0.00 (0.00%)
29 Jan 2023
5,626.00
0.00 (0.00%)
5,358.00
0.00 (0.00%)
28 Jan 2023
5,626.00
16.00 (0.29%)
5,358.00
15.00 (0.29%)
27 Jan 2023
5,610.00
-63.00 (-1.11%)
5,343.00
-60.00 (-1.11%)
26 Jan 2023
5,673.00
42.00 (0.75%)
5,403.00
40.00 (0.75%)

What Factors Affect Gold Rates In Ratlam?

Multiple factors impact gold prices in Ratlam. These include the following:

  • Local and domestic factors
  • International factors

Local and Domestic Factors

  • Many cultural, traditional, and religious factors affect gold prices in Ratlam. For instance, during the wedding season, people go on a gold-buying spree. As per the All India Gem & Jewellery Domestic Council's VC, around 15-20% of an average wedding budget is spent on jewellery. When there is rising demand for gold, jewellers hike the prices.
  • The cost of transporting gold to Ratlam entails added costs which, in turn, drive up gold prices.
  • Local taxes (including cess and special duties and taxes) also impact the gold prices in the city.
  • The implementation of GST (Goods and Service Tax) in 2017 increased gold rates in Ratman by over 1.33%.
  • When inflation rises, people in Ratlam tend to buy and hold gold. This is because they believe gold acts as a hedge against inflation.
  • RBI (Reserve Bank of India) holds gold reserves. When it procures and contains more gold, the price of gold increases.
  • Any economic and political instability in India makes people want to preserve their wealth. At such times, they invest in gold, which has historically given more stable returns than other investments.

International Factors

Besides the above domestic factors, a few international elements cause gold prices in Ratlam to fluctuate. Here is an overview:

  • The cost of gold depends upon the international market because India imports most of its gold. Hence, when gold rates increase globally, they will likely go up in India.
  • The strength of the Indian currency (₹) against the US Dollar (USD) is another impacting factor. As mentioned, a large chunk of India's gold demand is met by importing gold. When USD strengthens against ₹, the import cost of gold increases. It ultimately increases the gold rate in Ratlam and other cities in India.

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

Interesting Facts on Gold in Ratlam

Here are some interesting facts about gold in Ratlam that many of you didn't know:

  1. In Ratlam's Mahalaxmi temple, gold jewellery is offered as prasad to the devotees. During Diwali, devotees offer cash and jewels to seek grace from the "Goddess of Fortune."
  2. Gold jewellery has a purity index of around 92% in Ratlam.
  3. The Sarafa market in Ratlam is famous for the gold trade. People from across India visit this market to buy pure 22-Karat gold. The rush to buy gold increases significantly during the festive and wedding seasons.

Trend of Gold rates in Ratlam

1 gram
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Day24K Gold22K Gold
01 February 202356365368
05 February 202300
Highest57265453
Lowest56365368

How is the Purity of Gold Evaluated in Ratlam?

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 Ratlam

Has GST Impacted Gold Rate in Ratlam?

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Which are the best jewellery showrooms to buy gold jewellery, coins, and bars in Ratlam?

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Which banks in Ratlam provide gold loans?

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What are the highest and lowest rates of 24-Karat gold in Ratlam from August to October 2022?

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