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Today Gold Price in Patna
Though not a primary mode of investing, gold jewellery and coins occupy a place in the gifting sector in Patna. With Diwali, Dussehra and Holi being predominantly the Eastern and Northern influence for gifting occasions, Teej and Chhath Puja are the festivities central to Patna and are as important from a cultural and spending perspective. Artisans and jewellers from the North and East have made Patna a hub for themselves and thus one can find a hodge podge of variegated designs and work influence in the jewellery stores around Patna. That increases the choices of people wishing to invest in gold. Primarily, well-off families generally tend to do more of the gold investing in the region.
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Investing in Gold in Patna
Gold investing in Patna happens primarily through buying jewellery. Though avenues for investing in bullion and stocks are available, the populace leans towards coins and jewellery for any spends or investment concerning gold.
Over-the-counter - Jewellery and coins are the primary modes of gold investment in Patna. Bullion exchange is very minimal and can be done through Kotak Mahindra Bank as well as HDFC Bank branches. The primary jewellery stores in Patna are Tanishq, Alankar, Hira Panna, Jagmohan La Shivratan Lal, Ratnalaya, Khatri & Sons, Nakshatra Universe among others.
Market trade - Through spot contracts, future contracts and exchange-traded funds, people invest in gold on the market. Kotak Securities and SBI Gold Fund are the two options available in Patna to trade in gold. Spot contracts can be bought and delivered very quickly, and are quite volatile in nature. Future contracts are the same, just the delivery is deferred and thus, the risk of volatility is lessened. Gold ETFs are traded on the national and international stock exchanges. They are pivotal in tracking the price of gold.
FAQs on Gold price in Patna
What is the rate of 916 Hallmark of gold in Patna?
The rate of 916 Hallmark gold in Patna is Rs.49,040.
Should I buy 22 karats or 24 karats in Patna?
All gold jewellery is made of 22 karats gold and if you want to buy 24 karats gold, then you can buy gold biscuits and gold bars.
How do I check the purity of my gold in Patna?
It is mandatory for every jewellery to have a mark called ‘Hallmarking’. The Government of India had set up the Bureau of Indian Standards (BIS) which ensures that the consumers will get what they pay for.
How is the gold rate for 22-karat calculated in Patna?
All jewelers quote a much higher price by the karat. If we assume that the gold rate in India as of today is Rs.4,000 per gram, for 24 karat, then, if you buy a 22K gold ring the price, you will have to pay 22K/24K*4,000 = Rs.3,666. However, the merchant will charge you a higher price of over 5% to 8%.
At what price can I buy 1 gram of gold in Patna?
You can buy 1 gram of 24 karat gold in Patna is Rs.5,349.