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Gold Rate in Jharkhand
Jharkhand is a Northern state in India which is is said to be very rich in culture and boasts of one of the most ancient but renowned universities of India, Nalanda. The state is very well established in terms of language and artistry and are said to be consisting a population that has a very simple taste and lead a humble lifestyle, but when it comes to jewelry, gold is an auspicious part of their day to day life. A woman from the state is often seen wearing some sort of gold ornament even if it is the form of a nose ring. However, in Jharkhand similar to other states in the country the rates are based on the prices around the region and fixed on the basis of the gold rates from the other parts of the country. Here, you will read about the general trend and rates of gold in the state.
Gold Rate Trend in Jharkhand for April 2016 to June 2016 (per gram of 24 karat gold)
|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 on 31st of May||Rs.3,221 per gram on 30th of June|
|Highest price||Rs.3,018 per gram||Rs.3,157 per gram from 7th to 11th May||Rs.3,266 per gram on the 27th of June|
|Lowest price||Rs.3,018 per gram||Rs.3,003 per gram on the 31st of May||Rs.3,002 per gram on the 2nd of June|
Gold Rate Trend of Jharkhand in April 2016
- Gold opened the month at Rs.3,018 per gram on the 1st of April.
- Gold hit its highest for the month at Rs.3,018 per gram on the last day.
Gold Rate Trend of Jharkhand in May 2016
- The gold price remained unchanged at Rs.3,018 per gram on the first day of May.
- Gold price increased to Rs.3,157 on the 7th of May and held steady till 11th before dropping again.
- The price declined to Rs.3,003 per gram on the 31st of May.
Gold Rate Trend of Jharkhand in June 2016
- Gold traded at Rs.3,015 per gram on the 1st of June.
- Gold hit its highest for the month on the 27th of June at Rs.3,266 per gram.
- Gold price increased over the next couple of weeks as gold traded at Rs.3,221 per gram on the 30th of June.
Gold Rate Trend in Jharkhand for January 2016 to March 2016 (per gram of 24 karat gold)
|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.2,767 per gram on January 31st||Rs.3,092 per gram on 26th of February||Rs.3,090 per gram from March 1st to 18th|
|Lowest price||Rs.2,587 per gram on the 1st of January||Rs.2,769 per gram on 1st of February||Rs.3,016 per gram on 21st of March|
Gold Rate Trend of Jharkhand in January 2016
- Gold opened the year by trading at Rs.2,585 per gram on the 1st of January.
- Gold climbed higher by Rs.48 at Rs.2,633 per gram on 5th of January.
- Gold hit the highest rate for January on 31st at Rs.2,692 per gram.
Gold Rate Trend of Jharkhand in February 2016
- Gold price increased from the last month as it traded at Rs.2,769 per gram on 1st of February.
- Gold traded at Rs.2,997 per gram during the last week of the month on 22nd of February.
- Gold prices as it shot up to Rs.3,067 per gram on 26th of February as there was a steady incline in the prices.
Gold Rate Trend of Jharkhand in March 2016
- Gold managed to hold steady at Rs.3,090 on the 1st of March.
- Gold witnessed a steady downfall in the last two weeks of March and stood at Rs.3,018 per gram at the end of March.
Details of Gold Price in Jharkhand (22 Karat & 24 Karat) - Till December 2015
Price of 22K gold as of December 20, 2015 is Rs. 2440 or US$36.8 in Jharkhand. Price of 24K gold as of December 20, 2015 is Rs. 2609.63 or US$39.35 in Jharkhand. Gold rates in Jharkhand are affected by the exterior issues which include both global and national economic events. Gold rates fell in August, mainly due to the global sentiments being at the time being weak for the gold market. Finally, it rose again to a Rs. 2546 during the months that saw the gold requirement through festivities such as Diwali and Dhanteras. It has fallen recently due to the end of the wedding season. 24K gold was priced around Rs. 2693 around the festive season.
Gold as an investment in Jharkhand
When it comes to a safe investment option, Gold is considered to be one of the least riskiest of trading commodities in any market, whether regional or global. In Jharkhand too the yellow metal is considered an investment option that is lower on risk factors, primarily based on the fact that it is highly affordable and culturally significant as mentioned before. Most families find this metal auspicious such as weddings and Dhanteras season. Also families involved in marriage exchange gold ornaments as a tradition especially for the bride and the other female family members. Gold is the more expensive option when it comes to the white metal commodities but it is an investment opportunity especially for people who are looking to build wealth over the years or through trading. Investors in this part of the country also find it an integral part of their investment portfolio along with stock market and mutual fund investments. Investors have various options for gold trading through gold contracts and physical gold.
Physical Gold: If you are buying gold in Jharkhand, you have a variety options. This includes buying gold coins from jewelers as well as banks who offer products that are variegated in prices based on individual’s investment requirement and budget. Gold ornaments include chains, anklets, earrings, amulets, nose rings and rings which serve both as an investment along with being an accessory. Gold statues of gods and goddesses are also popular in Jharkhand, with their demand peaking during festivals and religious processions during Akshaya Tritiya and Chhath festivities. Gold in banks are slightly more expensive. But then again you have the advantage of gold that is certified and checked and you can be assured about the purity. If you are planning to build wealth through buying physical gold, perhaps buying hallmark gold from the bank is a better idea.
Market Trade: In this state one can purchase gold through the markets, with gold being traded in the National Multi Commodity Exchange, National Commodity and Derivatives Exchange and the Multi Commodity Exchange. This is apt for individuals willing to purchase gold in bulk, with the minimum trading limit being set at 1 kg in general. It is simply a viable option for people who are well aware of the gold market and all that affects it.
Also Check Gold Prices in the Cities of Jharkhand
|Gold Rate In Jamshedpur||Gold Rate in Ranchi|
Read more on Gold
- Things To Remember Before Buying Gold Jewellery
- All That You Need To Know About The Gold Monetization Scheme
- How Do Fluctuations In The Gold Rate Affect The Indian Economy?
- Global Demand For Gold Driven By Indian Wedding Traditions
- What Do The Markings On Gold Mean?
News About Jharkhand Gold Rate
Jharkhand to auction two Gold Mines
Jharkhand is set to become India’s second state to auction gold mines for which tenders will be issued by April end or May. The state Government is contemplating on issuing notice inviting tenders (NITs) for Parasi block in Ranchi district and Pahardia block in West Singhbum region. Earlier this year, Jharkhand auctioned two limestone blocks on basis of prospecting lease cum mining lease (PM cum ML). The state Government already tried to auction the Pahardia block gold mine earlier this year for which three mining giants including Vedanta expressed interest but did not participate. After this failed auction, the Government has put the plans on abeyance and is now planning on inviting fresh bids. The NITs are close to being finalized and will most likely be announced in last week of April or first week of May. The Parasi block is estimated to have a gold reserve of about 7.47 million tonnes at the rate of 0.5 grams per tonne and Pahardia block has an approximate reserve of about 1.16 million tonnes at the rate of 2.12 grams per tonne.
However, if this tender and auction will have any effect on gold prices in India is yet to be studied.
26th April 2016
Wedding season demand causes gold prices to rise by Rs 180
With wedding season in full swing, the price of gold rose by Rs 180 to close at Rs 29,430 per ten grams on Saturday on the back of jewellers and customers showing an increased demand for the precious metal. Not to be outdone, silver prices also climbed by Rs 50 to close at Rs 38,700 per kg on the back of rising demand from coin makers as well as industrial units. This trend was also felt globally as gold rose by 0.7 per cent to close at $1,234.60 per ounce in New York due to the release of weak U.S economic data.
18th April 2016
- For more related news /update on gold price visit: Gold News