Gold Rate In Patiala Today

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Todays Gold Price in Patiala

Investing in gold in India, to the average Indian, means purchasing gold jewellery and/or ornaments. At least this is what it is in the traditional sense, but a new wave of information and awareness is bringing India to the forefront of investments in gold as a tradable commodity. In Patiala, the perception of gold is changing from jewellery to a high-valued investment option.

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April 2022 Gold Rate in Patiala

March 2022 Gold Rate in Patiala

Trend of Monthly Gold Rate in Patiala for March 2022

• At the start of the March month, the gold price in Patiala was Rs.5,295 per gram. The price of the yellow metal witnessed fluctuations in the city over the month till 10 March 2022. The precious metal recorded the highest price at Rs.5,676 per gram on 8 March 2022 and lowest price at Rs.5,276 per gram on 2 March 2022.
• Gold prices in Patiala on 10 March 2022 were Rs.5,505 per gram. The overall performance till now witnessed an inclining trend with the percentage change recorded in the rates standing at 3.81%

February 2022 Gold Rate in Patiala

February 2022 - Week 1 (1 - 6):

• In the month of February, gold opened at Rs.4,881 per gram in Patiala. It had recorded the highest rate on 3rd, 4th, 5th and 6th February. On these dates, the rate was Rs.4,902 per gram.
• Gold price in India had been recorded at its lowest price on 1st and 2nd February when a gram of was priced at Rs.4,881.
• Gold witnessed an inclining trend in its performance for the first week of February.

February 2022 - Week 2 (7 - 13):

• In Patiala, the price of gold opened at the rate of Rs.4,881 per gram in the second week of February.
• The lowest price of the yellow metal was recorded on the 7th of February when a gram of 24 karat gold was being traded at the rate of Rs.4,881. The highest price of gold was recorded on the 12th and 13th of February wherein it stood at the rate of Rs.5,081 per gram for 24 karat gold.
• The second week of February closed with gold being traded at the rate of Rs.5,081 per gram in Patiala. The overall performance of gold witnessed an incline.

February 2022 - Week 3 (14 - 20):

• Gold had opened the month of February at Rs.5,081 per gram in Patiala. It had recorded the highest rate on 15th February at Rs.5,081 per gram.
• Gold price in India had been recorded at its lowest price on 20th February when one gram of was priced at Rs.4,997.
• Gold witnessed a declining trend in its performance for the first week of February.

February 2022 - Week 4 (21 - 28):

• In Patiala, the price of gold opened at the rate of Rs.4,881 per gram in the month of February.

• The lowest price of the precious metal was recorded on the 1st and 2nd of February when a gram of 24 karat gold was being traded at the rate of Rs.4,881. The highest price of gold was recorded on the 24th of February wherein it stood at the rate of Rs.5,149 per gram for 24 karat gold.
• The month of February closed with gold being traded at the rate of Rs.5,112 per gram in Patiala. The overall performance of gold witnessed an incline.

January 2022 Gold Rate in Patiala

January 2022 - Week 1 (1 - 9):

• The price of gold in Patiala was Rs.4,939 per gram on 1st January. Compared to the previous month’s closing price, the rate was up by Rs.37 per gram in the city.
• The opening price of the precious metal in the city was the highest for the month so far. The lowest price for the month so far was recorded on 7th January. On the mentioned date, a gram of 24-karat gold was priced Rs.4,850.
• Gold rate in Patiala remained unchanged over the next two days of the week and closed at the same price. A declining trend was witnessed in the overall performance of gold in the city.

January 2022 - Week 2 (10 - 16):

• In Patiala, the price of gold opened at the rate of Rs.4,939 per gram in the month of January.
• The lowest price of the yellow metal was recorded on the 10th of January when a gram of 24 karat gold was being traded at the rate of Rs.4,839. The highest price of gold was recorded on the 1st and 2nd of January wherein it stood at the rate of Rs.4,939 per gram for 24 karat gold.
• The second week of January closed with gold being traded at the rate of Rs.4,892 per gram in Patiala. The overall performance of gold witnessed a decline.

January 2022 - Week 3 (17 - 23):

• A gram of 24-karat gold cost Rs.4,892 in Patiala at the start of the third week of January. When compared to previous month’s closing price, there was no change in the price of the bullion.
• Gold price increased gradually in the city and recorded the highest price for the month so far on 21st January. A gram of 24-karat gold cost Rs.4,965 in the city on the mentioned date.
• The yellow metal slipped on the penultimate day of the week and closed at Rs.4,944 per gram. An inclining trend was witnessed in the overall performance of gold in Patiala.

January 2022 - Week 4 (24 - 31):

• In Patiala, the price of gold opened at the rate of Rs.4,939 per gram in the month of January.
• The lowest price of the yellow metal was recorded on the 10th of January when a gram of 24 karat gold was being traded at the rate of Rs.4,839. The highest price of gold was recorded on the 26th of January wherein it stood at the rate of Rs.4,986 per gram for 24 karat gold.
• The month of January closed with gold being traded at the rate of Rs.4,881 per gram in Patiala. The overall performance of gold witnessed a decline.

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Where to buy gold in Patiala?

When buying gold in Patiala, make a note of the below mentioned points:

• Buy from a well-established and certified dealer
• Ensure that the gold is marked, stamped, engraved or in some way certified and determined to be authentic gold of whichever purity you choose – 22 karat or 24 karats.
• Ensure get a certificate of authenticity which contains details of purity, gold rate on the date of purchase and the amount of gold purchased – along with the gold.

Investing in Gold in Patiala – types and options available

The following options can be considered to make gold investments:

• Jewellery and Ornaments – are bought and sold in India at the drop of a hat, for weddings, naming ceremonies, festivals, etc. and are the most common form of gold in the country. It should be noted that when gold is shaped into ornaments and jewellery, it is sometimes mixed with an alloy to allow for greater malleability, which results in the loss of some purity. Gold in this form has utility as a gift, a daily use item and also as a means of preserving the asset value, should the need arise to sell it.

• Gold coins – After gold jewellery and ornaments, gold coins are one of the most common types of gold that are purchased as an investment (especially in India). Gold coins are available in various weights like 1 gram, 2 grams, 5 grams, 10 grams, etc. and represent smaller investments than, say, gold bullion. Your investments will be subject to the same market factors that affect the price of all types of gold, but your risk will be significantly lesser as the denominations are lower, and coins can be purchased at any time during the year.

• Gold bullion – Standard-sized pieces of gold, gold bars (like in the movies) and gold tablets fall under the definition of gold bullion. Gold bullion is bought primarily as an investable commodity, in larger quantities, from a certified authority. It is generally traded in weightages over 500 grams, the most common being 1 kilo. Gold bullion also facilitates international gold trading and is one of the most common ways in which gold is transferred overseas, apart from gold ownership certificates.

It’s very important to read up on the factors that affect the gold rate, such as the strength of the US Dollar, demand versus supply, international currency movements, etc. before deciding on the right time to invest. Investing and trading in gold is an activity centered on the right timing.

FAQs on Gold Rate in Patiala

1. Which is the best time to purchase gold?

   Gold can be purchased at any given time as per your needs. However, it is important that you check the purity of gold before buying it.

2. What is the difference between 24 karat gold and 22 karat gold?

   The 24-karat gold is of the highest purity while the 22-karat gold is slightly less pure. It is difficult to make and use jewellery made of 24-karat gold as it would be soft and mushy. That is why 22-karat gold is used to make jewellery.

3. What to check while buying gold jewellery?

   The below-mentioned are a few points one should note while buying gold jewellery: Check the purity of gold used while making the jewellery, ie. 22 karat or 24 karat, Check if the ornament is hallmarked and Check the making charges applied.

4. Will the prices of gold differ from city to city?

   Yes, the prices of gold will be different in every city. The various factors affecting the gold rate include high demand for the yellow metal and comparatively low supply, transportation expenses, policies and tariffs imposed by local governments, etc. It is because of these factors that gold price varies from place to place.

5. Why is 24 karat gold not used for making jewellery?

   The 24-karat gold is of the highest purity and is very soft. This softness allows the yellow metal to be easily drawn into wires and beaten into sheets. Because of this exceptional softness, it is difficult for a jeweller to craft intricate jewellery pieces with 24 karat gold.

6. How gold prices are gold determined?

   The gold prices are affected by various external factors such as the rate of Indian currency with respect to US dollar, price of oil, important political events, etc. The internal factors such as the policies introduced by the government, interest rate, the demand for gold, etc., also have an impact on gold prices in India.

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