Gold Rate In Patna Today
Nowadays, with the sharp rise in expenses, people try their best to put a part of their hard-earned money into an investment. Be it a long-term investment or short-term investment, gold is one of the best investment options. However, when it comes to buying gold, its current price has a major role to play. So, today we are here to discuss all the gold rates in Patna.
Today Gold Price in Major Indian Cities
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Today 22 Carat Gold Rate in Patna
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Today 24 Carat Gold Rate in Patna
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Best Places To Buy Gold In Patna
Patna, the capital city of Bihar, has emerged as one of the most sprawling Indian cities. The city also has a number of places that garners the attention of gold buyers. So, here is a list of some of the best places in Patna from where you can purchase gold:
- Kalyan Jewellers: Kalyan Jewellers is located in the heart of the city on Boring Road. Renowned as one of the best brands for buying gold, the Kalyan Jewellers remains flocked with customers throughout the year. At Kalyan Jewellers in Patna, you can find a range of jewellery to grace up for various occasions.
- Alankar Jewellers: Yet another popular jewellery store in Patna is the Alankar Jewellers. The Alankar Jewellers is also located on Boring Road. Alanakar Jewellers is renowned for providing effortless service and utmost customer satisfaction. Moreover, the goldsmiths at Alankar Jewellers offer a range of jewellery designs, all of which are hallmarked.
- Ratnalaya Jewellers: For over a century, Ratnalaya Jewellers has been a go-to place for gold buyers in Patna. At Ratnalaya Jewellers in Patna, you can find a range of exotic designs. Be it weddings or Indian festivals, you can always find something when it comes to buying gold jewellery at Ratnalaya Jewellers in Patna.
- NBFCs: Apart from the jewellery shops, you can also buy gold from the famous NBFCs such as Muthoot Finance, IIFL Gold Loan and more.
Gold Rate / 10g in Patna for Last 10 Days
|Date||22 Carat Gold Price Today||24 Carat Gold Price Today|
Historical Gold Rates in Patna
|Months||Lowest Price (24 Carat) Gold rate/ 10gram||Highest Price (24 Carat) Gold rate/ 10gram|
Gold As An Investment
In the olden days, people used to buy gold with the intention to pass them on from one generation to another. However, at present, gold has become one of the best investment options owing to the safety net that it offers during times of crisis. The benefits of gold as an investment are many, some of which have been listed below:
- Offers Profitable Returns: In the long-run, gold offers guaranteed returns to investors. This is why gold is considered one of the safest investment options. People today adopt different types of gold investments such as Gold ETFs, Sovereign Bonds, and many more. So, investing in gold also offers a plethora of options to choose from.
- Acts As A Safety Net: As compared to other investment options like stocks, gold is less volatile. This means that gold performs well against the volatility of the market. In fact, the value of gold varies inversely with the stocks. So, many investors prefer to invest in gold rather than stocks.
- Offers Liquidity: The buying and selling of gold is very easy. Gold in fact offers liquidity and can thus be easily traded during a time of crisis. Many people thus invest in gold and use it during times of unforeseen crisis or when there arises an immediate need for cash. Furthermore, owning gold doesn't require much prior knowledge, so it's also very easy to buy.
Things To Remember While Buying Gold In Patna
Whether you are buying gold for the first time or you are an expert, there are certain things you need to be aware of. So, listed below are the things you need to while buying gold in Patna:
- Performance: In order to make your informed decision regarding whether to buy gold, you should check the performance of each form, such as gold bonds, physical gold, and more. Once you check their individual performance, you can be sure about which form to invest in.
- Security: In case you are planning to buy physical gold, then security is of the utmost concern. Bank lockers are the best place to keep your valuables like gold safe and reduce the risk of theft. It is therefore important to consider the safest place to store your gold ornaments before buying gold.
- Festive Season: It is also important to consider the time of year when purchasing gold since gold's price rises unexpectedly during the festive season or even during the Indian wedding. This is because of the mismatch between the demand and supply chain, as during this time the demand for gold ornaments rises unexceptionally.
- Check The Buy-back Policy: There are many jewellery shops in Patna that offer a pay-back policy so that you can get your assured money when you resell the gold. When you check the gold buy-back policy, selling gold to the same seller becomes more straightforward.
Factors Which Affect The Price Of Gold In Patna
We have listed some factors to consider when buying gold as well to assist investors in understanding why the price of gold rises and falls, time and again. So, scroll through the section and know all about the factors that affect the gold price:
- Inflation: During the time of inflation, the value of currency generally decreases. As gold acts as a hedge against inflation, so many people prefer investing in gold.
- Interest Rates: The interest rate and the price of gold varies inversely. This means that if the interest rate increases, the price of gold decreases.
- Import Duty: Although India is one of the largest consumers of gold, it produces very little gold in comparison to other countries. This is why the price of gold in Indian cities depends heavily on the import cost. If the import cost increases, the price of gold also increases considerably.
- Demand And Supply: Another important factor that impacts the gold price in Patna is the demand and supply of gold. So, whenever there is a mismatch between the demand and supply of gold, the price of gold varies accordingly.
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How to check for the hallmarked 916 22 karats gold in Patna?
You can check the hallmark symbol on the back side of the gold ornament.
Do I need to pay tax on bringing gold into Patna from abroad?
Yes, there are additional taxes applicable when bringing gold from abroad to Patna.
How to check the purity of gold in Patna?
The purity of gold is measured in karats, while 24 karats of gold indicate 99.9% purity, 22 karat gold on the other hand is 92% pure.
What is the difference between 22 karats and 24 karat gold?
The difference between 22 karats and 24 karat gold is in terms of purity. 22 karat is 92% pure and 24 karat gold is 99.9% pure.
How do you double-check your BIS hallmark in Patna?
The HUID number is used to double-check the BIS Hallmark in Patna and elsewhere.