
Today Gold Rate in Patna is Rs. 0.00 per 10 grams for 24 Karat
(10 grams = 1 tola gold)
Today Gold Rate in Patna is Rs. 0.00 per 10 grams for 24 Karat
(10 grams = 1 tola gold)
Patna is the capital of the state of Bihar and here, as similar to other parts of the country, the price of gold fluctuates on an everyday basis. Gold rate in Patna is affected by a wide range of factors such as prevailing market conditions, strength of the currency, demand-supply ratio, etc. It is advisable to check today’s gold rate in Patna before you buy gold in the city. Deep analysis of the changing gold rates in Patna are discussed below.
Gold Rate Today : Hyderabad | Kerala | Mumbai | Delhi | Bangalore | Pune | Kolkata | Chennai
Silver Rate Today : Bangalore | Hyderabad | Delhi | Chennai | Mumbai | Ahmedabad | Jaipur
Gold prices today in Patna and across India are influenced by different factors including economic, social and political conditions. The major contributing factors are discussed below-
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Gold is a global asset and hence the base price in the United States is considered and depending upon the currency value of the respective country, the price of gold is decided. Basic gold prices are in terms of troy-ounce and get converted into grams. After using Dollar-Rupee conversion factor and adding import duty charges, the gold prices are decided.
In India, the IBJA ( Indian Bullion Jewellers Association) plays an important role in determining day to day gold rates in india. IBJA generally considers the prices that were quoted by the ten biggest gold dealers. Depending on their ‘buy’ and ‘sell’ quote the IBJA then decides the gold rate.
Before the implementation of GST one had to pay 1% as excise duty and 1.2% as VAT along with 10% custom duty on the price of gold. With the introduction of the GST, VAT and excise duty have been replaced with 3% GST. To understand the impact of GST on gold in Patna and in the whole country, have a look at the table below:
Gold Prices Before GST and After GST | |||
S.no | Particulars | Price before GST | Price after GST |
1 | Price of gold | 100 | 100 |
2 | Custom duty | 10 (10% of 100) | 12.5 (12.5% of 100) |
3 | Total (1+2) | 110 | 112.5 |
4 | Excise duty | 1.1 (1% of 110) | 0 |
5 | Total (3+4) | 111.1 | 112.5 |
6 | VAT | 1.3 (1.2% of 111.1) | 0 |
7 | Total (5+6) | 112.4 | 112.5 |
8 | GST | 0 | 3.37 (3% of 112.5) |
9 | Total (7+8) | 112.4 | 115.87 |
10. | Making Charges | 13.2 (12% of 110) | 13.5 (12% of 112.5) |
11. | Total (9+10) | 125.6 | 129.37 |
12. | GST on making charges | 0 | 0.7 (5% of 113.5) |
13. | Total Price of jewellery | 125.6 | 130.07 |
If you wish to purchase gold jewellery or just getting started with investing in gold in Patna, there are certain aspects you should consider:
It is very important to check the purity of the gold you have bought. Hallmarking is done by the BIS to certify the purity of gold used in the making of gold jewellery /coin. Hallmark sign ensures the gold used adheres to the international standards of purity. You need to check the following components on the gold item purchased:
For Gold Jewellery
For Gold Coins
Note: You can find the above mentioned information on the item itself.
There are multiple ways of investing in gold. Below listed are some of the most popular options:
You can use your gold jewellery or gold article to get a loan in case of financial emergency or if you are looking for immediate liquidity. To get a loan against gold jewellery in Patna, you need to approach the nearest bank or gold financing company such as Muthoot and Manappuram.
Based on the purity, weight of the gold, tenure of the gold loan, loan amount will be given to you. However you will be levied interest charges on the loan amount. The minimum and maximum amount of loan to be dispersed, loan tenure and rate of interest varies from bank to bank. Until the loan amount is paid, your gold will be kept in a secured vault.
It might be able to touch this mark considering the continuation of geopolitical tremors, economic woes and rupee volatility. These factors will push the demand for gold as it is considered a safe investment option which will ultimately push the prices of gold.
Most coins minted are of 24 KT and are considered to be the purest form of gold which contains 24.24 parts of gold. If you are buying gold for investment purpose, it is suggested to go with 24KT with 999.9 fineness
The main difference between these two is the colour. White gold is slightly stronger than yellow gold due to the presence of Rhodium in it. While one may think that yellow gold is being pure, it really isn’t true as it depends mostly on the karat.
When gold Jewellery is created, it is an alloy of pure gold mixed with other metals. It is the amount of gold added in the composition which decides the price. That is 18K rose gold will be more expensive than 14K yellow gold because the percentage of gold is more in rose gold jewellery than in 14K jewellery.