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  • Gold Rate In Varanasi

    Daily Gold Rates
    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    21 Aug 2017 ₹ 2,790 ₹ 22,320 ₹ 2,982 ₹ 23,856
    20 Aug 2017 ₹ 2,790 ₹ 22,320 ₹ 2,982 ₹ 23,856
    19 Aug 2017 ₹ 2,810 ₹ 22,480 ₹ 2,999 ₹ 23,992
    18 Aug 2017 ₹ 2,805 ₹ 22,440 ₹ 2,994 ₹ 23,952
    17 Aug 2017 ₹ 2,790 ₹ 22,320 ₹ 2,979 ₹ 23,832
    16 Aug 2017 ₹ 2,805 ₹ 22,440 ₹ 2,994 ₹ 23,952
    15 Aug 2017 ₹ 2,805 ₹ 22,440 ₹ 2,994 ₹ 23,952
    14 Aug 2017 ₹ 2,805 ₹ 22,440 ₹ 2,994 ₹ 23,952
    11 Aug 2017 ₹ 2,785 ₹ 22,280 ₹ 2,974 ₹ 23,792
    10 Aug 2017 ₹ 2,750 ₹ 22,000 ₹ 2,939 ₹ 23,512

    *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.

    Varanasi is considered to be one of the most ancient cities of the world. The city boasts of one of the most ancient civilizations too. It is the most revered city in the Hindu culture and as such a lot of festivals and weddings are part of the daily routine of this vibrant city. Since the civilization is old, the city has been an important center of trade especially for textiles. Textile industry of Varanasi is famous all around the world and is a major exporter of cloth outside India.

    The traditional culture of the city places huge importance on the yellow metal, gold. The Indian culture itself places gold at the center of all festive and wedding activities and Varanasi too has not been untouched by this. Let us look at some of the most popular trends in the gold market of Varanasi.

    Rate of Gold in Varanasi

    The rate of gold, not just in Varanasi, but across all parts of the world varies with respect to the purity of the metal. As we know gold comes in different variants that signify the purity of the yellow metal. These are 14 karat gold, 18 karat, and 22 karat and so on. The higher the karat, the purer is the metal. Let us look at the rates of the metal based on its karat value.

    • 24 karat gold

      24 karat gold is the purest form of gold and is used mostly in the electronic industry and the pharmaceutical industry. This form of gold is also the costliest since the metal is in its purest form. Also, 24k gold is ideal for investments since the metal is traded at the actual price of gold. The rate of 24k gold as of 11th March, 2016 is Rs.2969 per gram which comes to around Rs.29690 per 10 grams.

    • 22 karat gold

      22 Karat is the most consumed form of gold since this is what is used for making jewelry. Since, Indian is one of the biggest importers and consumers of gold, especially in the form of jewelry, the rate of 22k gold is the most relevant rate for people of Varanasi. As of 11th March, 2016, the rate of 22k gold in Varanasi is Rs.2775 per gram which translates to Rs.27750 per 10 grams. Gold prices have again picked up after witnessing a steep fall the last few months.

    Gold Rate Trend in Varanasi for April 2017 to June 2017 (per gram of 24 karat gold)

    Factor January February March
    1st day Rs.2,991 per gram Rs.3,011 per gram Rs.3,012 per gram
    Last day Rs.3,011 per gram Rs.2,992 per gram Rs.2,992 per gram
    Highest price Rs.3,068 per gram on 15 and 16 April Rs.3,011 per gram on 1 and 2 May Rs.3,057 on 7 June
    Lowest price Rs.2,983 per gram from 8 - 10 April Rs.2,918 per gram from 11 to 15 May Rs.2,972 on 27 June
    Trend Incline Decline Decline
    Change 0.66% -0.49% -0.66%

    Gold Rate Trend in Varanasi for January 2017 to March 2017 (per gram of 24 karat gold)

    Factor January February March
    1st day Rs.2,844 per gram Rs.2,978 per gram Rs.3,009 per gram
    Last day Rs.2,958 per gram Rs.3,020 per gram Rs.2,991 per gram
    Highest price Rs.2,979 per gram on 24th January Rs.3,031 per gram from 25th February to Rs.3,009 per gram on the 1st and 2nd of March
    Lowest price Rs.2,844 per gram from 1st January to 3rd February Rs.2,957 per gram from 4th February to 6th February Rs.2,950 per gram on 15th March
    Trend Incline Incline Decline
    Change 4% 1.41% -0.59%

    Gold Rate Trend for Varanasi in January 2017

    • On the 1st of January in Varanasi, gold traded at Rs.2,844 per gram and stayed stable at this rate until the 3rd of the month.
    • Due to high demand from investors, the rate of gold went up marginally to trade at Rs.2,855 per gram before rising even further to trade at Rs.2,866 per gram from the 5th of January to the 9th.
    • Due to a continued rise in the demand for this precious metal, as the third week of January progressed, the rate of gold continued to rise with marginal fluctuations.
    • On the 24th of January, gold was priced at Rs.2,979 per gram which was the highest at which gold traded at for the month.
    • At the end of January, gold traded at Rs.2,958 per gram, recording an incline of 4% in the rate of gold.

    Gold Rate Trend for Varanasi in February 2017

    • Gold traded at Rs.2,978 per gram on the 1st of February and was steady at this rate until the 3rd of February.
    • However, on the 4th of February, the rate of gold reduced due to a rise in the value of the U.S.Dollar trading at Rs.2,957 per gram.
    • This rate was steady until the 6th of February post which the rate of gold increased again.
    • Due to positive market cues from jewellers in domestic markets, the price of gold shot up to Rs.3,009 per gram on the 8th of February and stayed stable at this rate until the 10th of February before declining again.
    • Gold traded at Rs.2,999 per gram from the 18th of February to the 24th of February due to steady demand.
    • On the last day of February in Varanasi, gold traded at Rs.3,020 per gram recording an incline of 1.41% in the rate of gold.

    Gold Rate Trend for Varanasi in March 2017

    • Gold was priced at Rs.3,009 per gram on the 1st of March and stayed at this rate until the 2nd of March as well
    • However, the price of gold reduced the next day to trade at Rs.2,990 per gram and stayed steady at this rate until the 6th before reducing again.
    • The U.S. Federal Reserve’s decision regarding the rate of interest has an impact on the price of this precious metal. On the 15th, the rate of gold plunged to a monthly low of Rs.2,950 per gram.
    • After the 15th, however, there was a marginal improvement noted in the rate of gold due to higher demand for this metal.
    • The rate of gold fluctuated between Rs.3,003 per gram and Rs.2,993 per gram between the 22nd of March and 26th of March, before steadily trading at Rs.3,003 per gram from the 27th of March to the 30th of March.
    • As the month of March ended, gold traded at Rs.2,991 per gram recording a decline of 0.59% in the price of gold.
    Factor October November December
    1st day Rs.3,205 per gram Rs.3,099 per gram Rs.2,893 per gram
    Last day Rs.3,099 per gram Rs.2,941 per gram Rs.2,844 per gram
    Highest price Rs.3,205 per gram from 1st-4th October Rs.3,213 per gram on 5th & 6th November Rs.2,893 per gram on 1st & 2nd December
    Lowest price Rs.3,088 per gram from 6th-25th October Rs.2,929 per gram from 25th-27th November Rs.2,800 per gram from 23rd-28th December
    Trend Decline Decline Decline
    Change -3.30%                                   -5.09% -1.69%

    Gold Rate Trend for Varanasi in October 2016

    • The demand for gold was quite strong in the beginning of October due to demand both in India and overseas. On the 1st day of the month, gold traded at Rs.3,205 per gram on 1st October.
    • Due to fluctuations in demand despite the ongoing wedding season, gold rates took a hit and reduced. Although international demands were relatively stable, domestic demands fluctuated quite a bit.
    • The U.S. election and uncertainty over the results kept markets unstable, though prices didn’t show signs of improvement as local demand was still lower than expected.
    • Price of gold slightly increased towards the end of the month to trade at Rs.3,099 per gram, although a decline of 3.30% was noted in the rate of gold during the month.

    Gold Rate Trend for Varanasi in November 2016

    • Gold prices were stable as the month began, trading at Rs.3,099 per gram on 1st November as demand was consistent.
    • The U.S. presidential election results surprised the entire world with Donald Trump becoming the President resulting in market fluctuations.
    • Cash notes worth Rs.500 and Rs.1,000 were banned on the 8th of November by Prime Minister Narendra Modi in order to curb corruption. This move came to be known as demonetization and resulted in sending the markets into a tizzy.
    • As the currency shortage became acute, demand for gold dropped, leading to prices stagnating, as international demand was also muted due to a strong U.S. Dollar.
    • Gold prices fell by a significant percentage, trading at Rs.2,941 per gram on 30th November due to highly volatile markets.

    Gold Rate Trend for Varanasi in December 2016

    • The price of gold failed to recover in the last month of the year as the effects of demonetisation kept domestic demand muted.
    • Gold traded at Rs.2,893 per gram on 1st December as investors moved away from bullion due to strong markets and stable currencies.
    • Local demand also followed international trends, with demand for gold low as the U.S. Dollar gained over other global currencies.
    • Gold fell to its lowest rate for the quarter during Christmas, as demand dropped to a historic low.
    • A slight recovery was seen as the month ended due to an increase in local demand.
    • Gold traded at Rs.2,844 per gram on 31st December, marking a decrease of a little over 1% for the month.
    Factor July August September
    1st day Rs.3,167 per gram Rs.3,219 per gram Rs.3,184 per gram
    Last day Rs.3,219 per gram Rs.3,205 per gram Rs.3,217 per gram
    Highest price Rs.3,227 per gram on from 7th-9th July Rs.3,248 per gram on 4th and 10th August Rs.3,228 per gram from 7th-12th September
    Lowest price Rs.3,163 per gram on 22nd July Rs.3,205 per gram from 26th-31st August Rs.3,184 per gram on 1st and 2nd September
    Trend Increase in price Decrease in price Increase in price
    Change +1.64% -0.43% +1.03%

    Gold Rate Trend in Varanasi for July 2016

    • Gold traded at Rs.3,167 per gram on 1st July as demand rose due to continuing uncertainty arising out of the Brexit vote.
    • Prices rose to a monthly high of Rs.3,227 per gram on 7th July as trends from the international market bolstered the domestic market.
    • Prices fell slightly as currency markets recovered, leading to demand for gold stagnating.
    • Prices remained at Rs.3,199 per gram from 13th-21st July due to muted demand.
    • Prices fell further as stocks had a bull run, closing at Rs.3,219 per gram on 31st July.

    Gold Rate Trend in Varanasi for August 2016

    • The price of gold was Rs.3,219 per gram on 1st August but fell as the week ended due to fluctuating demand.
    • Gold traded at Rs.3,206 per gram on 9th August but rose as demand for gold increased, following international trends.
    • Prices rose marginally as the global stocks fell, leading to increased demand for gold.
    • Gold was sold at Rs.3,238 per gram on 22nd August but prices fell to Rs.3,205 per gram on 31st August due to decreasing demand from jewellers.

    Gold Rate Trend in Varanasi for September 2016

    • Gold traded at Rs.3,184 per gram on 1st September as international demand led to a boost in sales.
    • The price rose to Rs.3,228 per gram on 7th September as demand from jewellers rose due to the festive season, coupled with positive international cues.
    • Prices dipped as demand fluctuated, trading at Rs.3,205 per gram on 16th September and falling further as the week ended.
    • Flagging markets renewed interest in gold, leading to a slight rise in price to Rs.3,227 per gram on 22nd September before prices settled at Rs.3,217 per gram on 30th September.
    Factor April May June
    1st day Rs. 2,943 per gram Rs. 3,119 per gram Rs.2,960 per gram
    Last day Rs. 3,119 per gram Rs. 2,960 per gram on 30th of May Rs.3,167 per gram
    Highest price Rs.3,119 per gram on 1st of April Rs. 3,120 per gram on 9th of May Rs.3,182 per gram on 28th and 29th June
    Lowest price Rs. 2,933 per gram on the 5th of May Rs. 2,960 per gram on the 30th of May Rs.2,950 per gram from 2nd-5th June
    Trend Rising Decline Increase in price
    Change +5.98% -5.09% +6.99% increase

    Gold Rate Trend of Varanasi in April 2016

    • Gold continued to trade at Rs. 2,943 per gram for the first three days of April
    • Gold witnessed a lot of fluctuation in the month of April with changes in rate every week.

    Gold Rate Trend of Varanasi in May 2016

    • There were no major changes in demand and the rate remained unchanged at Rs. 3,119 per gram for the first three days of May.
    • Gold witnessed a decline at Rs. 3,048 per gram on 24th of May owing to low demand.
    • The price further declined to Rs. 2,960 per gram on 30th of May.

    Gold Rate Trend of Varanasi in June 2016

    • Gold prices were stable at the start of the month, with prices rising during the month.
    • The unstable markets contributed to increased demand for gold, in spite of the Dollar being relatively stable.
    • The upcoming referendum in Great Britain on staying in the European Union led to some turbulence, pushing gold prices higher.
    • Gold prices rose as the month ended as Britain voted to exit the EU resulting in markets falling and demand for gold shooting up.
    Factor January February March
    1st day Rs. 2,585 per gram Rs. 2,756 per gram Rs. 3,030 per gram
    Last day Rs. 2,756 per gram Rs. 3,037 per gram Rs. 2,948 per gram
    Highest price Rs. 2,767 per gram on January 27th Rs. 3,049 per gram on 26th of February Rs. 3,030 per gram from March 1st to 14th
    Lowest price Rs. 2,580 per gram from January 2nd to 4th Rs. 2,756 per gram on 1st of February Rs. 2,948 per gram on 31st of March
    Trend Rising Rising Decline
    Change +6.61% +10.19% -2.70

    Gold Rate Trend of Varanasi in January 2016

    • Gold traded at Rs. 2,585 per gram on the 1st of January without many changes over the next four days
    • Gold rose by Rs. 100 at Rs. 2,681 per gram on 7th of January.
    • Gold hit the highest rate for January on 27th at Rs. 2,767 per gram.

    Gold Rate Trend of Varanasi in February 2016

    • Gold remained unchanged at Rs. 2,756 per gram on 1st of February.
    • Gold traded at Rs. 3,008 per gram during the better half of the second week of the month.
    • February witnessed a steady rise in Gold prices as it shot up to Rs. 3,049 per gram on 26th of February.

    Gold Rate Trend of Varanasi in March 2016

    • Gold remained unchanged at Rs. 3,030 per gram for the first two weeks of March.
    • Gold witnessed a steady downfall in the last two weeks of March and stood at Rs. 2,948 per gram at the end of March.

    Gold investment options in Varanasi

    Gold is popular not just because it is a rare and precious metal but also because it has numerous uses as an investment option as well as a means of accumulating wealth. Despite numerous innovative financial products in the market, gold continues to hold on to its shine since it is a metal that Indians truly rely on as a good investment avenue. Listed below are some of the ways in which gold can be utilized to grow wealth.

    • Financial Market

      With the importance of gold, many financial institutions have launched gold specific schemes that offer returns on investments made in gold. These include gold ETFs and some schemes like the Gold Monetization Scheme which have been launched by the government to leverage the popularity and abundance of gold in the country. Gold ETFs can be traded on the stock exchange and are a popular replacement for people who want to invest in gold but don’t want to buy it physically.

    • Over the counter

      Over the counter gold is available as gold coins in banks and as jewelry and coins in various jewelry shops. Varanasi has a huge population and an equally proportional number of jewelry shops in the city. Gold can be bought in the form of various ornaments, coins or even bars. Jewelers too, keep all variants of the metal in different karat qualities so as to cater to the need of all customers.

    Also Check Gold Price in NearBy Cities of Varanasi

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