Gold Rate In Odisha

  • Today's Gold Rate in Odisha ( 23 Sep 2021 )

    ₹ 4,560
    Today's Gold Rate (22K) per gram

    Compare 22K & 24K Gold Rate In Odisha (Today & Yesterday)

    Today
    Yesterday
    Rate Change
    Standard Gold (22 K) ( 1 gram ) ₹ 4,560 ₹ 4,525 ₹ 35 ↑
    Standard Gold (22 K) ( 8 grams ) ₹ 36,480 ₹ 36,200 ₹ 280 ↑
    Pure Gold (24 K) ( 1 gram ) ₹ 4,788 ₹ 4,751 ₹ 37 ↑
    Pure Gold (24 K) ( 8 grams ) ₹ 38,304 ₹ 38,008 ₹ 296 ↑

    Daily Gold Rates

    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    22 Sep 2021 ₹ 4,560 ₹ 36,480 ₹ 4,788 ₹ 38,304
    21 Sep 2021 ₹ 4,525 ₹ 36,200 ₹ 4,751 ₹ 38,008
    20 Sep 2021 ₹ 4,505 ₹ 36,040 ₹ 4,730 ₹ 37,840
    19 Sep 2021 ₹ 4,515 ₹ 36,120 ₹ 4,741 ₹ 37,928
    18 Sep 2021 ₹ 4,515 ₹ 36,120 ₹ 4,741 ₹ 37,928
    17 Sep 2021 ₹ 4,515 ₹ 36,120 ₹ 4,741 ₹ 37,928
    16 Sep 2021 ₹ 4,575 ₹ 36,600 ₹ 4,804 ₹ 38,432
    15 Sep 2021 ₹ 4,605 ₹ 36,840 ₹ 4,835 ₹ 38,680
    14 Sep 2021 ₹ 4,575 ₹ 36,600 ₹ 4,804 ₹ 38,432
    13 Sep 2021 ₹ 4,575 ₹ 36,600 ₹ 4,804 ₹ 38,432

    Weekly & Monthly Graph of Gold Rate in Odisha

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    *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.

    Gold Rate in Orissa

    Gold rate in Odisha depend on the several factors, including but not limited to, quantum of India’s gold imports, supply, demand and price fluctuations in world markets among others. The government of India raises import duties on the yellow metal to reduce the current account deficit.

    Odisha has rich mineral deposits. A survey conducted by GSI, few years ago, revealed presence of gold in several districts in Odisha, namely, such as Mayurbhanj, Koraput, Malkangiri and Nabarangpur. Given that India imports almost all of its Gold, port towns in Odisha tend to have slightly lower prices compared to cities. Gold is widely used during festive occasions and weddings with jewellery stores displaying a variety of traditional designs. There have been reports of many customers putting off their plans to buy the yellow metal in anticipation of a further drop in gold rates.

    Gold Rate Trend in Odisha for April 2021 to June 2021 (per gram of 24 karat gold)

    Factor January February March
    1st Day Rs.5,068 per gram Rs.4,984 per gram Rs.4,662 per gram
    Last Day Rs.4,977 per gram Rs.4,637 per gram Rs.4,461 per gram
    Highest Price Rs.5,203 per gram on 6 January Rs.4,984 per gram on 1 February Rs.4,662 per gram on 11 March
    Lowest Price Rs.4,925 per gram on 29 January Rs.4,637 per gram on 27 February and 28 February Rs.4,461 per gram on 31 March
    Trend Decline Decline Decline
    Change 1.79% -6.9% -4.3%

    Quarterly Gold Rate in Odisha from January to March 2021:

    • The gold prices in Odisha on 1 January 2021 and 31 January 2021 were at Rs.5,068 per gram and Rs.4,977 per gram, respectively. Overall, gold rates dropped by 1.79% over the course of the month in the city. The lowest and highest prices that the yellow metal hit for the month was on 29 January and 6 January and were at Rs.4,925 for a gram and Rs.5,203 per gram, respectively.
    • Gold prices in Odisha for the month of February started off at the rate of Rs.4,984 per gram. Gold rates in Odisha started witnessing a declining trend during the second half of the month and it closed the month at the lowest recorded rate for the month wherein it stood at the rate of Rs.4,637 per gram. The rate of gold declined by 6.9%
    • In March, the rates of the yellow metal had declined by 4.3%. The highest and lowest rates that the yellow metal hit for the month were Rs.4,662 per gram and Rs.4,461 per gram.

    Gold Rate Trend in Odisha for January 2021 to March 2021 (per gram of 24 karat gold)

    Factor January February March
    1st Day Rs.5,068 per gram Rs.4,984 per gram Rs.4,662 per gram
    Last Day Rs.4,977 per gram Rs.4,637 per gram Rs.4,461 per gram
    Highest Price Rs.5,203 per gram on 6 January Rs.4,984 per gram on 1 February Rs.4,662 per gram on 11 March
    Lowest Price Rs.4,925 per gram on 29 January Rs.4,637 per gram on 27 February and 28 February Rs.4,461 per gram on 31 March
    Trend Decline Decline Decline
    Change 1.79% -6.9% -4.3%

    Quarterly Gold Rate in Odisha from January to March 2021:

    • The gold prices in Odisha on 1 January 2021 and 31 January 2021 were at Rs.5,068 per gram and Rs.4,977 per gram, respectively. Overall, gold rates dropped by 1.79% over the course of the month in the city. The lowest and highest prices that the yellow metal hit for the month was on 29 January and 6 January and were at Rs.4,925 for a gram and Rs.5,203 per gram, respectively.
    • Gold prices in Odisha for the month of February started off at the rate of Rs.4,984 per gram. Gold rates in Odisha started witnessing a declining trend during the second half of the month and it closed the month at the lowest recorded rate for the month wherein it stood at the rate of Rs.4,637 per gram. The rate of gold declined by 6.9%
    • In March, the rates of the yellow metal had declined by 4.3%. The highest and lowest rates that the yellow metal hit for the month were Rs.4,662 per gram and Rs.4,461 per gram.

    Gold Rate Trend in Odisha for October 2020 to December 2020 (per gram of 24 karat gold)

    Factor October November December
    1st Day Rs.5,222 per gram Rs.5,222 per gram Rs.4,835 per gram
    Last Day Rs.5,222 per gram Rs.4,932 per gram Rs.5,063 per gram
    Highest Price Rs.5,287 per gram on 13 October Rs.5,257 per gram on 7, 8, and 9 November Rs.5,151 per gram on 8 December
    Lowest Price Rs.4,914 per gram on 18 and 19 October Rs.4,932 per gram on 28, 29, and 30 November Rs.4,835 per gram on 1 December
    Trend Stable Decline Incline
    Change -5.55% 4.71%

    Quarterly Gold Rate in Odisha from October 2020 to December 2020:

    • Gold price in Odisha at the start of October was Rs.5,222 per gram. When compared to the closing price of the previous month, the price of the yellow metal was up by Rs.24 for every gram. Over the month, the trend witnessed in the price of gold was stable. The highest and lowest price of gold for the month was recorded on 13th and 18th October with a gram costing Rs.5,287 and Rs.4,914 respectively.
    • The yellow metal opened the month of November at Rs.5,222 per gram. There was no change in the price of gold when compared to the closing price of the previous month. Gold recorded its highest and lowest price for the month on 7th and 28th December respectively. On the mentioned dates, a gram of the 24-karat gold was priced Rs.5,257 and Rs.4,932 respectively. Over the month, the trend witnessed in the rates was one of decline with the performance change being -5.55%
    • Gold was priced Rs.4,835 per gram in Odisha on 1st December. The price of the precious metal slipped by Rs.97 for every gram when the rate was compared to what was charged on the final day of the previous month. While the opening price of gold was the lowest for the month, the highest was recorded on 8th December when a gram cost Rs.5,151. Gold closed the month at Rs.5,063 per gram with the overall performance witnessing an inclining trend. The percentage change recorded in the rates stood at 4.71%.

    Gold Rate Trend in Odisha for July 2020 to September 2020 (per gram of 24 karat gold)

    Factor July August September
    1st Day Rs.5,005 per gram Rs.5,513 per gram Rs.5,293 per gram
    Last Day Rs.5,431 per gram Rs.5,293 per gram Rs.5,225 per gram
    Highest Price Rs.5,431 per gram on 30 July and 31 July Rs.5,786 per gram on 7 August, 8 August, and 9 August Rs.5,345 per gram on 16 September and 17 September
    Lowest Price Rs.4,961 per gram on 7 July Rs.5,263 per gram on 29 August Rs.5,130 per gram on 29 September
    Trend Incline Decline Decline
    Change 8.51% -3.99% -1.28%

    Quarterly Gold Rate in Odisha from July 2020 to September 2020:

    • On 1 July 2020, gold prices in Odisha were at Rs.5,005 for a gram. Over the course of the month, the prices of gold in the state increased by 8.51%. Gold hit its lowest rate for the month on 7 July and was at Rs.4,961 per gram. Gold hit its highest rate for the month on the 30 July and 31 July and was at Rs.5,431 for a gram.
    • On 1 August 2020, the price of gold in the state was at Rs.5,513 per gram. By the end of the month, gold prices fell by 3.99%. The highest and lowest prices that gold hit in August were Rs.5,786 per gram and Rs.5,263 per gram, respectively.
    • In September, gold prices saw an overall decline of 1.28% in Odisha. Gold prices opened the month at Rs.5,293 per gram and closed the month at Rs.5,225 per gram.

    Gold Rate Trend in Odisha for April 2020 to June 2020 (per gram of 24 karat gold)

    Factor April May June
    1st Day Rs.4,263 per gram Rs.4,699 per gram Rs.4,799 per gram
    Last Day Rs.4,761 per gram Rs.4,799 per gram Rs.5,005 per gram
    Highest Price Rs.4,846 per gram on 29 April Rs.4,799 per gram on 31 May Rs.5,013 per gram on 25 June and 26 June
    Lowest Price Rs.4,263 per gram from 1 April to 20 April Rs.4,646 per gram on 2 May Rs.4,788 per gram from 8 June to 10 June
    Trend Incline Incline Incline
    Change 11.68% 2.12% 4.29%

    Quarterly Gold Rate in Odisha from April to June:

    • On 1 April 2020, the price of gold in Odisha was at Rs.4,263 for a gram and remained steady over the next 20 days. This was the lowest rate that the yellow metal hit for the month. The coronavirus outbreak across the world was the main reason for the prices to increase. On 29 April, the price of gold was at Rs.4,761 for a gram, seeing a 11.68% incline over the course of the month.
    • In the month of May, the prices of gold opened at Rs.4,699 per gram and closed at Rs.4,799 per gram. The tensions between China and the US was the main reason for the prices to increase. Gold saw its prices increase by 2.12% in May.
    • In June, the prices of gold saw an incline of 4.29% as the price of gold opened and closed at Rs.4,799 and Rs.5,005 respectively. The increase in the number of coronavirus cases and the stimulus measures that were introduced ensured that the prices increased.

    Gold Rate Trend in Odisha for January 2020 to March 2020 (per gram of 24 karat gold)

    Factor January February March
    1st Day Rs.4,027 per gram Rs.4,199 per gram Rs.4,303 per gram
    Last Day Rs.4,199 per gram Rs.4,377 per gram Rs.4,263 per gram
    Highest Price Rs.4,251 per gram on 9 January Rs.4,436 per gram on 25 February Rs.4,583 per gram on 7 March
    Lowest Price Rs.4,027 per gram on 1 January Rs.4,160 per gram on 7 February Rs.4,158 per gram on 18 March 2020
    Trend Incline Incline Decline
    Change 4.27% 4.23% -0.92%

    Quarterly Gold Rate in Odisha from January 2020 to March 2020:

    • In the month of January, the price of the metal opened at Rs,4,027 per gram on 1 January and showed an inclining trend throughout the month. The price of the metal showed continuous inclines due to the rising tensions between the Middle East and the United States of America along with the speculations on the trade deal between China and the United States of America prompted investors to shift to the bullion market due to its safe-haven appeal. The price of the metal hit its highest price on 9 January at Rs.4,251 per gram. However, as the 1st phase of the trade deal was completed and signed by China and the United States of America, the price of the metal dipped as investors with a higher risk appetite shifted to the stock market. By the middle of the month, the price of the metal was Rs.4,104 per gram on 16 January. The last week of the month saw major inclines in the price of the metal due to its safe-haven appeal and it closed the month at Rs.4,199 per gram on 31 January, recording an overall percentage incline of 4.27.
    • February was a beneficial month for the traders invested in the bullion market as the metal continued its inclining trend opening at Rs.4,199 per gram on 1 February. However, gold prices hit its lowest in the first week of the month itself at Rs.4,160 per gram on 7 February. With continuously mixed trends in the market, the price of the metal fluctuated heavily. By the middle of the month, gold was priced at Rs.4,212 per gram. With reports flooding in about a possible virus outbreak out of Wuhan in China, investors shifted back to the bullion market for its safe-haven appeal. The price of the metal hit and crossed the Rs.4,300 per gram mark on 22 February at Rs.4,363 per gram and soon hit its highest price of the month on 25 February at Rs.4,436 per gram. At the end of the month, gold closed at Rs.4,377 per gram on 29 February recording a percentage incline of 4.23.
    • In March, the price of the precious metal showed a decline in its overall monthly prices opened at Rs.4,303 per gram on 1 March and hit its highest early in the month at Rs.4,583 per gram on 7 March. The rise in prices of the metal was due to investors awaiting a rate cut from the United States Federal Reserve to counteract the effect of COVID-19 on the economy. With the number of cases and deaths all over the world, investors started selling off their assets as a whole to hoard cash and survive in the crisis-hit market. By 18 March, the metal had hit its lowest price of the month at Rs.4,158 per gram and continued to show declines. With countries going into lockdown and trade is at a halt in various parts of the world, including India, the price of the metal held steady with no inclines or declines seen in the state of Odisha. At the end of the month, gold prices closed at Rs.4,263 per gram on 31 March, recording a percentage decline of 0.92.

    Also Check Gold Price in Metro Cities

    Gold investment avenues in Orissa

    Over-the-counter: Gold is sold in retail in the form of bullions, coins and jewellery in Odisha. For most consumers in Odisha, Gold is a hedge against inflation. Most investors are view gold as an essential investment. All major cities in Odisha have thinner margins while towns boast of higher margins. Also, there are jewellery associations in every major city, which zero in on the price of the yellow metal twice during a day - at around 10 am and 1600 hours. Jewellery stores in Odisha receive the latest price through sms, following which, the price is displayed on an electronic boards. Some of the major jewellers include Khimji, Menka, Mundra and Lalchand among others.

    Market trade: Investors are keen on exploring different options such as gold ETFs. Gold futures contracts are traded in MCX (Multi Commodities Exchange of India). The spot price on the MCX fluctuates depending on supply and demand in the market. Gold futures (August delivery) hit a six-year intra-day low, with a spot price of USD 1,134/ounce on August 7. According to market analysts, several factors including international markets witnessing a weak trend with gold hitting a five-year low this year, coupled with fears of potential US Fed rate hikes is largely responsible for the decline in prices of precious metal futures.

    Also Check Gold Prices in the Cities of Orissa

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