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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
    27 Oct 2016 ₹ 2,900 ₹ 23,200 ₹ 3,099 ₹ 24,792
    26 Oct 2016 ₹ 2,890 ₹ 23,120 ₹ 3,088 ₹ 24,704
    25 Oct 2016 ₹ 2,890 ₹ 23,120 ₹ 3,088 ₹ 24,704
    24 Oct 2016 ₹ 2,890 ₹ 23,120 ₹ 3,088 ₹ 24,704
    23 Oct 2016 ₹ 2,890 ₹ 23,120 ₹ 3,088 ₹ 24,704
    22 Oct 2016 ₹ 2,890 ₹ 23,120 ₹ 3,088 ₹ 24,704
    21 Oct 2016 ₹ 2,890 ₹ 23,120 ₹ 3,088 ₹ 24,704
    20 Oct 2016 ₹ 2,890 ₹ 23,120 ₹ 3,088 ₹ 24,704
    19 Oct 2016 ₹ 2,890 ₹ 23,120 ₹ 3,088 ₹ 24,704
    18 Oct 2016 ₹ 2,890 ₹ 23,120 ₹ 3,088 ₹ 24,704

    *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 2016 to June 2016 (per gram of 24 karat gold)

    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.

    Gold Rate Trend in Varanasi for January 2016 to March 2016 (per gram of 24 karat gold)

    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

    Gold Rate In Allahabad Gold Rate In Aligarh Gold Rate In Noida
    Gold Rate In Agra Gold Rate In Bareilly Gold Rate In Lucknow
    Gold Rate In Meerut Gold Rate In Ghaziabad Gold Rate In Kanpur

    Read more on Gold

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