Patna is the capital of Bihar and most people over there keep gold as a reserve to tackle unforeseen financial emergencies in the future. It is a good habit to keep gold as reserves so that you can face financial emergencies if you lack funds. So, if you are willing to put some more gold in your reserve then you must know the Gold Rate Today in Patna of the 22 Karat and 24 Karat Gold. Usually, the jewelry is made up of 22K gold and the bars and coins are made up of 2K Gold. So, the gold price of 22K Gold in Patna is ₹4730 per gram and 24K Gold is ₹4830 per gram. The karat defines the purity of gold and you will understand it better later in this blog.
Gold Price Today and Yesterday in Patna
What is Karat in Gold
The Karat tells how pure the gold is and 24 Karat is the purest form you will find in gold. Then it is 22K, 20K, and 18K that is the minimum Karat in Gold. The rate of gold per gram of 18K gold is the lowest among all the karats available. You can see the percentage of purity in different forms of karat in the table given below.
Types of Investments in Gold
You will find that Gold can be a better option for making investments because it has a volatile rate. Investors buy gold at a low rate and then sell it at a high rate, and that makes profits in the end. So, here are some options for gold investments below:-
- Invest in jewelry and ornament of gold like rings, necklaces, earrings, bracelets, bangle, nose pins, and other gold products.
- Invest in Gold Coins, Bars, or Biscuits because they involve less making charge than the making charge of jewelry, so the final cost will be less than the jewelry.
- Have an investment in digital gold and you can straight away sell the gold units into the market as the price of gold in Patna increases.
What is Hallmark in Gold
You might have seen hallmark in jewelry and it denotes the purity of metal or gold and on the other hand, it certifies that the piece of gold or metal fulfills all the set of rules laid by the Bureau of Indian Standards. Therefore, it is important to see the hallmark on the jewelry and check the price of the gold before you make any investment.
Reasons for Gold Price Changes in Patna
It is important to know the reasons for the gold price change in Patna. There are many international and domestic reasons due to which the gold rate today is different from yesterday’s gold rate.
The gold price in Patna might fluctuate due to the inflation or deflation in India and it might increase or decrease today’s gold rate. If there is inflation internationally or there is any kind of global emergency then the price of the gold might get affected.
RBI’s Gold Reserve
When the Reserve Bank of India increases its gold reserve to issue more currency notes than the cash inflow in the market increases. So, when the cash flow increases into the market, the price of gold is automatically affected in Patna.
If there is a high demand for gold in the market then the Gold Price fluctuates in Patna. Usually, when there is a wedding season in Patna people buy Gold Jewelleries in bulk and it increases the demand, resulting in the upward movement of the gold price.
Note – Gold prices are sourced from various news journals such as Economic Times, Live Mint, Good Returns, Fresherslive, etc.