Gold Rate In Ranchi Today

  • Today's Gold Rate in Ranchi ( 24 Jan 2021 )

    ₹ 4,749
    Today's Gold Rate (22K) per gram

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

    Rate Change
    Standard Gold (22 K) ( 1 gram ) ₹ 4,749 ₹ 4,776 ₹ -27 ↓
    Standard Gold (22 K) ( 8 grams ) ₹ 37,992 ₹ 38,208 ₹ -216 ↓
    Pure Gold (24 K) ( 1 gram ) ₹ 4,986 ₹ 5,015 ₹ -29 ↓
    Pure Gold (24 K) ( 8 grams ) ₹ 39,888 ₹ 40,120 ₹ -232 ↓

    Daily Gold Rates

    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    22 Jan 2021 ₹ 4,749 ₹ 37,992 ₹ 4,986 ₹ 39,888
    21 Jan 2021 ₹ 4,776 ₹ 38,208 ₹ 5,015 ₹ 40,120
    20 Jan 2021 ₹ 4,729 ₹ 37,832 ₹ 4,965 ₹ 39,720
    19 Jan 2021 ₹ 4,726 ₹ 37,808 ₹ 4,962 ₹ 39,696
    18 Jan 2021 ₹ 4,706 ₹ 37,648 ₹ 4,941 ₹ 39,528
    17 Jan 2021 ₹ 4,712 ₹ 37,696 ₹ 4,948 ₹ 39,584
    16 Jan 2021 ₹ 4,712 ₹ 37,696 ₹ 4,948 ₹ 39,584
    15 Jan 2021 ₹ 4,750 ₹ 38,000 ₹ 4,988 ₹ 39,904
    14 Jan 2021 ₹ 4,760 ₹ 38,080 ₹ 4,998 ₹ 39,984
    13 Jan 2021 ₹ 4,775 ₹ 38,200 ₹ 5,014 ₹ 40,112

    Weekly & Monthly Graph of Gold Rate in Ranchi

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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 Price In Ranchi

    Ranchi, the capital of Jharkhand, is among the top destinations for buying gold in Eastern India. The city has a rich history with gold and has a good demand for the yellow metal. Being the most populated city in Jharkhand, gold rate in Ranchi can be taken as a benchmark for gold rates in the whole state. Gold rate in Ranchi is affected by various national and international factors.

    Gold is sold by numerous dealers and traders in the city. The city boasts of a well-established gold market and as such customers usually get a lot of options to choose from. The city is also a centre of local commercial activity and therefore a large number of customers both from urban and rural localities prefer shopping for gold in Ranchi.

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

    Factor October November December
    1st Day Rs.5,222 per gram Rs.5,154 per gram Rs.4,835 per gram
    Last Day Rs.5,222 per gram Rs.5,525 per gram Rs.5,120 per gram
    Highest Price Rs.5,287 per gram on 12 October Rs.5,525 per gram on 10 November Rs.5,120 per gram on 21 December
    Lowest Price Rs.4,914 per gram on 17 October and 18 October Rs.5,145 per gram on 29 November Rs.4,835 per gram on 1 December
    Trend Nil Incline Incline
    Change 0.00% 7.19% 5.89%

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

    • In Ranchi, the month of October opened with gold price standing at the rate of Rs.5,222 per gram and the metal’s price had been the same by the end of the month.
    • The price of gold declined throughout the rest of the month due to higher risk appetite amongst investors due to vaccine optimism. The demand for the precious metal gradually declined. At the end of the month, gold price in Ranchi was at its lowest on 29 November at Rs.5,145 per gram and closed the month at the same rate, recording an overall decline of 7.19%.
    • In Ranchi, the month of December opened with gold price standing at the rate of Rs.4,835 per gram. Gold price closed the month at the rate of Rs.5,120 per gram. The overall performance of the yellow metal witnessed an inclining trend wherein the percentage change stood at 5.89%.

    Gold Rate Trend in Ranchi 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.5,198 per gram
    Highest Price Rs.5,431 per gram on 30 July and 31 July Rs.5,786 per gram on 8, 9, and 10 August Rs.5,345 per gram on 16 September and 17 September
    Lowest Price Rs.4,961 per gram from 7 July Rs.5,263 per gram on 29 August Rs.5,130 per gram on 29 September
    Trend Incline Decline Decline
    Change 8.5% -3.99% -1.79%

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

    • Gold price in Ranchi opened at Rs.5,005 per gram on 1 July and was at its lowest in the first week at Rs.4,961 per gram on 7 July. The price of the precious metal increased gradually throughout the month and closed at Rs.5,431 per gram on 31 July with an overall incline of 8.5% in its performance.
    • In August, gold rate opened at Rs.5,513 per gram and was at its highest for three days at Rs.5,786 per gram. However, the price of the yellow metal declined through the month and was at its lowest on 29 August at Rs.5,263 per gram, closing at Rs.5,293 per gram. The overall performance of gold dropped by -3.99%.
    • Opening at the rate of Rs.5,293 per gram on 1 September, the price of gold showed a declining trend for the month with constant fluctuations in the prices. On 16 September, the metal’s price was the highest at Rs.5,345 per gram and was the lowest on 29 September wherein it was being traded at the rate of Rs.5,130 per gram. The overall performance witnessed a dip of -1.79%.

    Gold Rate Trend in Ranchi 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.4,883 per gram on 18 and 19 May Rs.5,013 per gram on 25 and 26 June
    Lowest Price Rs.4,263 per gram from 1 – 20 April Rs.4,646 per gram on 2 May Rs.4,788 per gram on 8, 9, and 10 June
    Trend Incline Incline Incline
    Change 11.68% 2.12% 4.29%

    Quarterly Gold Rate in Ranchi from April to June:

    • In Ranchi, gold opened the month of April at Rs.4,158 per gram. Over the month, the rates witnessed an inclining trend with the percentage change being 11.47%. The yellow metal recorded its highest and lowest price for the month on 27th and 1st of April.
    • In May, the precious metal opened the month at Rs.4,641 per gram. There was an increase of Rs.6 for every gram when compared to the closing price of the previous month. The highest and lowest price for the month was recorded on the 20th and 12th of May with a gram costing Rs.4,757 and Rs.4,534 respectively. The overall performance of the metal witnessed an inclining trend in the city with the percentage change standing at 1.24%.
    • The rates of gold jumped by 2.74% over the month of June in Ranchi. Gold opened the month at Rs.4,702 per gram, an incline of Rs.3 from the price charged on the final day of the previous month. The metal recorded its highest and lowest for the month on 25th and 8th of June with a gram being retailed for Rs.4,841 and Rs.4,564 respectively.

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

    Factor January February March
    First 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
    Trend Incline Incline Decline
    Change 4.27% 4.23% -0.90%

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

    • In the month of January, gold prices opened at the rate of Rs.4,027 per gram in Ranchi which was also the lowest recorded price for the month. Over the month, the price of the yellow metal fluctuated a lot although the trend was mostly inclining. The rate of the precious metal touched the highest price on 9 January owing to the progress made in regard to the US and China trade deal. On the given date, the price of the metal stood at Rs.4,251 per gram. The rates of gold dropped again towards the end of the month and it stood at Rs.4,199 per gram on 31 January 2020. This change was affected after the World Health Organization (WHO) declared the coronavirus (COVID-19) to be a global pandemic. The overall performance of the yellow metal witnessed a rise of 4.27%.
    • In Ranchi, the price of gold opened at the rate of Rs.4,199 per gram on 1 February 2020. There was no change in the rate of the precious metal and the rate was similar to the closing rate of the previous month. On the 7th day of the month, the prices dropped to the lowest and stood at Rs.4,160 per gram. With the stock market going down and the American Dollar (USD) hitting a 4-month high, the prices of the yellow metal kept fluctuating till the 14th of February. After reports started suggesting the increase in the spread of COVID-19 virus around the globe, the price of the precious metal went up as people started considering it a safe haven investment. The deaths due to coronavirus spread outside China was also responsible for the price hike. The price of gold was the highest on 25 February 2020 when it stood at Rs.4,436 per gram. On the last day of the month, the rate of the precious metal stood at Rs.4,377 per gram and it showed an overall performance hike of 4.23%.
    • The gold prices in the month of March 2020 opened at a rate of Rs.4,303 per gram in Ranchi. There was a drop of Rs.88 for every gram of the precious metal when compared to the price of the metal on the last closing day, that is on 29 February 2020. For the first week of March, the yellow metal witnessed an upward trend wherein it recovered from a massive drop in price. The investors across the globe were expecting the US Federal Reserve to cut down the rates of interest to tackle the impact of the COVID-19 virus outbreak on the economy. This also resulted in the increase of the price of the metal. The highest rate of the yellow metal was recorded on 7th of March when the price stood at the rate of Rs.4,583 per gram. It had hit the lowest rate on 18th wherein it stood at the rate of Rs.4,158 per gram. During the month, the precious metal witnesses an overall decline of –0.90% in its performance.

    Find Today's Gold Price in Top Metro Cities

    Gold buying patterns in Ranchi

    Gold is sold throughout the city in a number of jewellery and dealer outlets.

    Over the counter: Gold is popularly sold as jewelleries and ornaments in the city of Ranchi. The city has a rich culture and people throng to buy gold jewelleries during festival or marriage seasons. Other than jewelleries, gold is also sold as bullions and coins in the city, with bullions being a cheaper option though they are only available for larger quantities of gold.

    Traded gold: Gold is traded by the people of Ranchi through spot and future contracts. Spot contracts are available on a real time basis and purchased gold is usually delivered within a week. Futures contract is sold for a future delivery date.

    Also Check Gold Price in NearBy Cities of Ranchi

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    News About Gold rate in Ranchi

    • You Might Want to Stop Investing in Gold Savings Schemes For a While After Reading This

      The India Bullion & Jewellers Association recently stated that in February this year, the Union Cabinet approved a bill banning the unregulated deposit scheme as many cases of deposit scheme fraud was deducted. One has to figure out if gold saving schemes offered by leading jewellers in the country falls under the Ponzi Scheme category and if it will be banned too.

      The India Bullion & Jewellers Association has asked all their members to take note of this bill and take measures before this bill is enforced as law. Meanwhile, many jewellers who are members of All India Gem & Jewellery Trade Federation have currently stopped enrolling their customers in the 11-month gold saving schemes until the Union Cabinet sheds some clarity on this matter. So, if you have an existing gold savings scheme, talk to your jeweller about it. If you are planning to apply for one, it is better to pause it till this issue is clarified.

      7 March 2018

    • Gold rates remain flat amid outlook for faster Fed rate hikes

      With investors cautious after the US Federal

      Reserve Chairman Jerome Powell’s comments to increase interest rates more than expected during the year, gold rates remained nearly unchanged following a decline of more than 1% in the previous session. The US dollar index also recorded its highest in near-three weeks and gained against a basket of other emerging currencies. During the congressional testimony, Jerome Powell indicated that the Federal Reserve may raise the number of interest rate hikes from three to four during the year.

      In the Asian markets, equities dropped significantly after poor macroeconomic manufacturing data added worries to the negative sentiments after the Fed chairman’s speech.

      28 February 2018

    • Gold Down to Rs. 29,226 After US Announces Strong Manufacturing Figures

      Gold rates on the Multi Commodity Exchange fell by 0.97 percent to Rs. 29,226, after rising on Tuesday. The precious metal is expected to trade between Rs. 28,765 to Rs. 30,069 on Wednesday. The loss was driven by better manufacturing data from the US, leading to hopes that the Federal Reserve will revise its rates. US dollar rates also improved after this news was announced. Gold is currently being supported by rise in exchange traded funds, with assets in the world’s leading gold ETF SPDR Gold Trust increasing by 1.15 percent to 786.20 tonnes on Tuesday. Despite the 10 percent import duty on gold, India’s gold imports in January were 62 percent higher than the corresponding period last year. In an effort to curb gold demand, in its recent budget, the country also reinstated local sales tax on gold jewellery.

      2 March 2016

    • India is the world’s 2 largest market for gold, and is offering huge discounts.

      Dealers in India, the second largest market in the world, have increased their discounts offered by jewelers. After the escalated global prices of cooled off, and the speculation of the government import taxes. The discounts have fallen below the cash prices in London for gold, as much as $30 for an ounce. The markdowns are as large as $55 on sales without invoices. Gold has increased by 17% in the year so far, proving to be a safe haven of assets.

      26 February 2016

    • Gold Prices Recover To Rise 1 Per Cent

      Gold recovered on Tuesday and rose by nearly 1 percent in the wake of a drop in global equities as well as low inflows into bullion funds. The drop ensured that gold prices recovered from price drops that took place over past sessions. Commerzbank analyst Eugen Weinberg stated that while gold continues to be well supported by inflows in exchange-traded funds (ETFs), another setback could be around the corner before the precious metal rallies any further. The assets in the top gold-backed ETF, SPDR Gold Trust, hit their highest mark since March 2015 following a rise of more than 19 tonnes to close at 752.29 on Monday.

      24 February 2016

    • Indian government to auction 3 gold mines this year

      At least 3 gold mines may be auctioned by the government this year. The government is planning to open up the sector to private firms. This is being don’t in order to slash import of metals that cost the government $36 billion in the previous year. Out of the mines to be auctioned, one was shut 15 years ago in Karnataka and the other two are new and located in Jharkhand and Chhattisgarh. The analysts believe that the gold mining will be profitable to the country.

      Government is hoping to raise Rs.6,000 crore from selling the gold dust from Kollur, Karnataka.

      18 February 2016

    • Gold importing tariff increased by the government

      On Monday, the government increased the tariff value of gold from $ 363 for 10 grams to $ 403 per 10 grams. The tariff value also was hiked for silver from $ 443 to $510 per kg. The Central Board of Excise and Customs, have been notified of these revised rates. The rate are in lieu of the current price trend of the precious metal in the global market and rupee situation.

      16 February 2016

    • Gold prices increase, owing to wedding season

      Gold prices surged by Rs 175 to Rs 27,875 per 10 grams at the bullion market on Monday on persistent buying by jewellers, driven by rising wedding season demand even as the metal weakened overseas. Silver also regained the Rs 36,000-mark by rising Rs 250 to Rs 36,050 per kg on increased offtake by industrial units and coin makers.

      9 February 2016

    • Gold holds on to its 3-month high

      After ample and on-going speculation about US rate hike for the past few months, the yellow metal has managed to hold onto its three-month rate which is the highest since October 30th. Gold rallied by 1.2 per cent overnight which is a huge gain in one stroke for the metal. US markets have slowed owing to weakening of the global economic conditions.

      The price of gold were boosted by two significant things; one is the weakening of the US Dollar and two is the hopes that US interest rates will remain unchanged for the upcoming few months.

      4 February 2016

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