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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
    26 Oct 2016 ₹ 2,926 ₹ 23,408 ₹ 3,124 ₹ 24,992
    25 Oct 2016 ₹ 2,926 ₹ 23,408 ₹ 3,124 ₹ 24,992
    24 Oct 2016 ₹ 2,926 ₹ 23,408 ₹ 3,124 ₹ 24,992
    23 Oct 2016 ₹ 2,931 ₹ 23,448 ₹ 3,129 ₹ 25,032
    22 Oct 2016 ₹ 2,931 ₹ 23,448 ₹ 3,129 ₹ 25,032
    21 Oct 2016 ₹ 2,923 ₹ 23,384 ₹ 3,120 ₹ 24,960
    20 Oct 2016 ₹ 2,930 ₹ 23,440 ₹ 3,128 ₹ 25,024
    19 Oct 2016 ₹ 2,903 ₹ 23,224 ₹ 3,100 ₹ 24,800
    18 Oct 2016 ₹ 2,903 ₹ 23,224 ₹ 3,100 ₹ 24,800
    17 Oct 2016 ₹ 2,898 ₹ 23,184 ₹ 3,104 ₹ 24,832

    *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 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.

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

    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.

    Also Check Gold Price in NearBy Cities of Jamshedpur

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