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  • Gold Rate In Jamshedpur

    Daily Gold Rates
    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    28 Mar 2017 ₹ 2,837 ₹ 22,696 ₹ 3,030 ₹ 24,240
    27 Mar 2017 ₹ 2,819 ₹ 22,552 ₹ 3,012 ₹ 24,096
    26 Mar 2017 ₹ 2,819 ₹ 22,552 ₹ 3,012 ₹ 24,096
    25 Mar 2017 ₹ 2,819 ₹ 22,552 ₹ 3,012 ₹ 24,096
    24 Mar 2017 ₹ 2,826 ₹ 22,608 ₹ 3,019 ₹ 24,152
    23 Mar 2017 ₹ 2,826 ₹ 22,608 ₹ 3,019 ₹ 24,152
    22 Mar 2017 ₹ 2,790 ₹ 22,320 ₹ 2,980 ₹ 23,840
    21 Mar 2017 ₹ 2,787 ₹ 22,296 ₹ 2,978 ₹ 23,824
    20 Mar 2017 ₹ 2,794 ₹ 22,352 ₹ 2,985 ₹ 23,880
    19 Mar 2017 ₹ 2,794 ₹ 22,352 ₹ 2,985 ₹ 23,880

    *Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.

    Jamshedpur is the district headquarters of Purbi Singhbhum district in Jharkhand. The city, when it was founded by Jamshedji Tata, was known as Sakchi or Kalimati. It was renamed in 1919 as Jamshedpur by Lord Chemsford, the Viceroy of India from 1916 to 1921. Jamshedji Tata set up India’s first iron and steel plant in the city in 1908. This planned city was built with a vision of providing not only accommodation but all basic amenities, infrastructure, religious and leisure spots and green cover.

    Jamshedpur, a completely industrial city, is rich in minerals such as iron ore, coal, manganese bauxite and lime. In fact, the Geological Survey of India is looking for gold, platinum and other rare earth mineral deposits in the Singhbhum region that includes Jamshedpur. The major industries in the city are iron and steel, cement, tinplate manufacturing, truck production, and other related works.

    Gold prices in Jamshedpur

    Gold rates depend on the basics of demand and supply, but with gold, the demand often stays stable despite higher prices. Gold demand generally peaks during the wedding season – which is most of the year except during the monsoon.

    Gold is generally traded in the form 24-karat (99.9% purity) and 22-karat (91.6% purity), though 20-karat, 18-karat and 14-karat gold jewellery is also in vogue. An average consumer, however, never buys 24-karat pure gold unless in the form of investments such as gold coins or bars, or e-gold and gold bonds.

    24-karat gold prices: The price of pure gold in Jamshedpur as on March 10, 2016 was Rs. 29,720. This is lower than the Rs. 30,374 seen on March 10 in the national capital of Delhi.

    22-karat gold prices: People looking to buy gold jewellery in Jamshedpur will have to pay Rs. 27,780 for 22-karat gold (as on March 10). In Delhi, the price on March 10 was Rs. 28,400.

    Gold Rate Trend in Jamshedpur for October 2016 to December 2016 (per gram of 24 karat gold)

    Factor October November December
    1st day Rs.3,244 per gram Rs.3,130 per gram Rs.2,884 per gram
    Last day Rs.3,130 per gram Rs.2,926 per gram Rs.2,843 per gram
    Highest price Rs.3,244 per gram from 1st-11th October Rs.3,190 per gram on 3rd & 4th November Rs.2,963 per gram on 1st & 2nd December
    Lowest price Rs.3,100 per gram on 18th October Rs.2,919 per gram on 27th November Rs.2,749 per gram from 24th-26th December
    Trend Decline Decline Decline
    Change -3.51%                                   -6.51% -1.42%

    Gold Rate Trend for Jamshedpur in October 2016

    • Gold prices in Jamshedpur were stable as the month began but fell towards the middle of the month due to decreasing demand.
    • Gold was priced at Rs.3,244 per gram on 1st October as jewellers increased orders due to the upcoming festive and wedding season.
    • Industrial demand was also brisk but began to dip due to a resurgence in the U.S. Dollar over the possibility of a U.S. Fed rate hike.
    • A dip in demand from the retail sector occurred as the month ended, which led to a drop in price.
    • Gold ended the month trading at Rs.3,130 per gram, with the price falling by 3.5% due to declining demand.

    Gold Rate Trend for Jamshedpur in November 2016

    • The price of gold fell sharply during the month after an initial rally due to stable markets which led to a reduction in demand from industry.
    • Gold traded at Rs.3,130 per gram on 1st November, with the price rising to Rs.3,190 per gram on 3rd November as markets dipped over uncertainty regarding the upcoming U.S. election results.
    • Prices fluctuated following the announcement of the demonetisation of large currency notes in India, which boosted gold demand.
    • Prices began to fall as industrial demand slowed as markets stabilised after the upheaval of the first two weeks, with domestic demand also dropping due to a currency shortage.
    • Prices failed to recover as the month ended, resulting in gold trading at Rs.2,926 per gram on 30th November, recording an overall loss of 6.5%.

    Gold Rate Trend for Jamshedpur in December 2016

    • Demand continued to be lower than expected, resulting in gold trading at Rs.2,884 per gram on 1st December.
    • Speculation of a Fed rate hike led to the U.S. Dollar trading high, which led to a reduction in demand for gold.
    • The weeks before Christmas saw a decline in demand for gold due to higher volumes of sales, which stabilised markets and reduced dependency for gold as a safe haven asset.
    • Prices fell to a quarterly low of Rs.2,749 per gram on 24th December due to a slump in retail demand coupled with a slowdown in demand from industry.
    • The continued currency shortage led to reduced demand during the festive season, which kept prices low.
    • Gold prices rose marginally as the month ended due to fears of a slowdown in Asia, as investors looked to invest in safe haven assets like bullion.
    • Gold traded at Rs.2,843 per gram on 31st December.

    Gold Rate Trend in Jamshedpur for July 2016 to September 2016 (per gram of 24 karat gold)

    Factor July August September
    1st day Rs.3,252 per gram Rs.3,271 per gram Rs.3,218 per gram
    Last day Rs.3,292 per gram Rs.3,237 per gram Rs.3,244 per gram
    Highest price Rs.3,305 per gram on 7th July Rs.3,287 per gram from 5th-7th August Rs.3,244 per gram from 7th-30th September
    Lowest price Rs.3,218 per gram from 27th-29th July Rs.3,232 per gram on 9th August Rs.3,200 per gram on 5th and 6th September
    Trend Increase in price Decrease in price Increase in price
    Change +1.23% increase -1.03% decrease +0.80% increase

    Gold Rate Trend for Jamshedpur in July 2016

    • Gold traded at Rs.3,252 per gram at the start of July on the back of sustained demand with some fluctuations during the week.
    • Prices rose as demand spiked due to continued fears of how Brexit would impact the economy, with prices reaching a monthly high of Rs.3,305 per gram.
    • The markets began to stabilise as currencies performed well, leading to a drop in the price of gold.
    • The slide in price continued as markets were bullish and investor confidence in stocks rose.
    • An increase in domestic demand led to prices climbing as the month ended, closing at Rs.3,292 per gram.

    Gold Rate Trend for Jamshedpur in August 2016

    • Gold prices started the month strong, trading at Rs.3,271 per gram and climbing to the month’s high of Rs.3,287 per gram by the end of the week.
    • Prices began to slide as markets continued their strong run and demand fell.
    • Domestic demand was lower than expected, leading to prices stagnating.
    • Prices continued to fall in the third week, before stabilising at Rs.3,277 per month.
    • Positive industrial data led to a surge in stocks, with gold demand dropping and prices falling to Rs.3,237 per gram.

    Gold Rate Trend for Jamshedpur in September 2016

    • Prices dipped further, trading at Rs.3,218 per gram during the first week of September on poor demand.
    • With markets slightly unsteady and global gold demand increasing, prices rose marginally.
    • The second week saw prices steadily climb due to U.S. markets being uncertain.
    • Global cues pointed to a stabilising gold market as currencies tumbled, with gold stabilising at Rs.3,244 per gram for the next three weeks.

    Gold Rate Trend in Jamshedpur for April 2016 to June 2016 (per gram of 24 karat gold)

    Factor April May June
    1st day Rs. 3,018 per gram Rs. 3,018 per gram Rs.3,015 per gram
    Last day Rs. 3,018 per gram Rs. 3,003 per gram Rs.3,221 per gram
    Highest price Rs. 3,018 per gram Rs. 3,157 per gram on 7th and 11th of May Rs.3,266 per gram on 27th June
    Lowest price Rs. 3,018 per gram Rs. 3,003 per gram on the 27th - 31st of May Rs.2,988 per gram on 3rd June
    Trend Rising Decline Rise
    Change + 0% -0.49% +6.83%

    Gold Rate Trend of Jamshedpur in April 2016

    • The month of April was a completely stable month.
    • Gold traded at Rs. 3,018 at the start of the month.
    • Prices in Jamshedpur stayed constant unaffected by the strikes and global trends.

    Gold Rate Trend of Jamshedpur in May 2016

    • Gold traded at Rs. 3,018 on May 1st.
    • The trend for May showed a decline owing to the growing expectations of e Fed rate hike.
    • Prices dropped to Rs. 3,003 on 27th May and remained unchanged till the end of the month.

    Gold Rate Trend of Jamshedpur in June 2016

    • Gold traded at Rs.3,015 per gram on the 1st of the month in Jamshedpur and rose steadily with minor fluctuations as the month progressed.
    • An increase of 6.83% was noted at the end of the month in the price of gold.
    • The demand for gold saw a significant increase due to uncertainty resulting from Brexit as investors rushed to purchase gold.
    • Although the price of gold dipped slightly during mid June, rates picked up again due to demand and uncertainties in the market.
    Factor January February March
    1st day Rs. 2,587 per gram Rs. 2,769 per gram Rs. 3,090 per gram
    Last day Rs. 2,692 per gram Rs. 3,067 per gram Rs. 3,018 per gram
    Highest price Rs. 2,692 per gram on January 7th - 31st Rs. 3,067 per gram on February 29th Rs. 3,090 per gram on March 1st to 19th
    Lowest price Rs. 2,587per gram on January 1st to 4th Rs. 2,769 per gram on February 1st Rs.3,018 per gram on March 23rd – 31st
    Trend Rising Rising Decline
    Change + 4.05% + 10.76% - 2.33%

    Gold Rate Trend of Jamshedpur in January 2016

    • Gold rates were at Rs. 2,587 at the start of the month and remained unchanged for 4 days.
    • The prices for the major part of the month stayed at Rs. 2,692 with fluctuations in between.
    • The month ended at Rs. 2,692 marking a 4.05% increase.

    Gold Rate Trend of Jamshedpur in February 2016

    • Gold rates traded at Rs. 2,769 on 1st February.
    • The trend for February was an inclination.
    • Prices rose to Rs. 3,067 on February 29th, ending the month with the highest recorded.
    • The increase in prices was at 10.76% by the end of February.

    Gold Rate Trend of Jamshedpur in March 2016

    • Gold traded at Rs. 3,090 on 1st March.
    • Prices were constant for majority of the month, with minor changes.
    • Prices rose to 3,019 on 19th to 21st, but dropped to Rs. 3,018 and stayed steady.

    Gold demand in Jamshedpur

    Gold is not merely a matter of investment for Indians. We use gold for gifting, to indicate social status, to maintain social prestige, and for auspicious and special occasions. Even the poor save money in bits to buy gold at some point in their lives. Weddings where the bride is not sparkling with gold jewellery is almost unheard of in the country. And all this jewellery is not always lying idle – we also use it as security to get loans, and if times are hard, we sell it off at the best prices.

    The high number of jewellery shops in Jamshedpur indicate that the demand for the precious metal is quite high in the city. National brands such as Tanishq, Tribhovandas Bhimji Zaveri, PC Chandra Jewellers and Reliance Jewels have their showrooms in Jamshedpur.

    Gold investment in Jamshedpur

    Gold is a safe haven for investment as it can act as a hedge to inflation. Rising gold prices make it an attractive investment with a high resale value. Following the trend of gold investment across the country, people in Jamshedpur buy gold in two main forms:

    Physical gold: The most common form of investment in gold is to buy ornaments and gift articles. There are several jewellery shops and showrooms in Jamshedpur to cater to this demand. People looking at gold merely as investment also buy gold coins and bars. This is available at banks and other authorised financial institutions.

    Market trade: People who do not want to buy gold in the form of jewellery can opt for paper gold and bonds. This investment option is not very popular in India currently, but many people are experimenting with this. The options available are: Sovereign Gold Bonds, Gold Exchange Traded Funds and e-gold. Gold Monetisation Scheme is also available to those who want to put their unutilised gold ornaments and coins to a profitable use.

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