Today's Gold Rate in Bhavnagar: LIVE 22 and 24 Carat Gold Price

The confluence of cultural heritage and architectural wonders has won Bhavnagar the name of Kala Ghoda (Black Horse) of Gujarat. Its rich history is reflected in its magnificent palaces, forts, and residents’ fondness for gold. Gold plays a vital role in their lives, seen as a symbol of prosperity and secure investment. This strong demand has a direct impact on the local gold prices. Whether you're a new resident, a visitor, or someone considering buying, selling, or acquiring a gold loan, staying informed about the current gold rate in Bhavnagar is essential to ensure you get the best possible value for your gold.

Gold Price in Bhavnagar for 22K and 24K Gold Purities

22 Carat Gold Price Per Gram in Bhavnagar - (Today & Yesterday)

Regarding investing in jewellery, 22-carat gold is often considered the gold standard. If you want to make a wise investment, comparing the 22-carat gold rate in Bhavnagar is an excellent place to start. The following table provides a helpful guide to inform your decision-making process:

Gram	Today	Yesterday	Price Change
Gold rate for 1 gram	₹ 6,691	₹ 6,577	₹ 114
Gold rate for 10 gram	₹ 66,908	₹ 65,770	₹ 1,138
Gold rate for 12 gram	₹ 80,290	₹ 78,924	₹ 1,366

Today 24 Carat Gold Price Per Gram in Bhavnagar - (Today & Yesterday)

Investing in 24-carat gold can be a smart move, as it tends to hold its value over time and can even appreciate in value. You can easily find out the rate and hence get the best value for your investment from the table provided below:

Gram	Today	Yesterday	Price change
Gold rate for 1 gram	₹ 7,304	₹ 7,180	₹ 124
Gold rate for 10 gram	₹ 73,044	₹ 71,801	₹ 1,243
Gold rate for 12 gram	₹ 87,653	₹ 86,161	₹ 1,492

Disclaimer: IIFL Finance Limited (including its associates & affiliates) ("IIFL") makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are subject to change and are provided on an as-is basis with no guarantees of completeness, accuracy, usefulness or timeliness and is without any warranties of any kind, express or implied. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. IIFL accepts no liability or responsibility for any errors or omissions in the content stated herein and under no circumstances shall IIFL be liable for any damage, loss, injury or disappointment suffered by any reader.

Historical Gold Rate in Bhavnagar For The Last 10 Days

Day	22K Pure Gold	24K Pure Gold
13 Sep, 2024	₹ 6,690	₹ 7,304
12 Sep, 2024	₹ 6,577	₹ 7,180
11 Sep, 2024	₹ 6,594	₹ 7,199
10 Sep, 2024	₹ 6,557	₹ 7,159
09 Sep, 2024	₹ 6,538	₹ 7,137
06 Sep, 2024	₹ 6,588	₹ 7,193
05 Sep, 2024	₹ 6,583	₹ 7,187
04 Sep, 2024	₹ 6,530	₹ 7,129
03 Sep, 2024	₹ 6,548	₹ 7,149
02 Sep, 2024	₹ 6,550	₹ 7,151

Monthly and Weekly Trends of Gold Rate in Bhavnagar

The gold rate in Bhavnagar, like in any other city globally, is subject to fluctuations, which are closely tied to monthly and weekly trends influenced by the demand and supply dynamics. The volume of gold bought and sold plays a significant role in shaping these trends. To gain a deeper insight, let's examine the monthly and weekly trends of gold rates in Bhavnagar

Gold Price Calculator in Bhavnagar

Gold amount

gm 10gm

Gold value: ₹ 6,690.80

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What is the Current Trend in the Gold Price in Bhavnagar?

Bhavnagar's affinity for gold is well-known, and the city is counted among the country's top consumers of the metal. Irrespective of the economic conditions, there’s a consistent demand for it throughout the year. However, this demand surges significantly during the wedding and festival seasons. Additionally, gold jewelry prices in Bhavnagar include marking charges, which increase the overall cost.

Importance of Checking Gold Rates in Bhavnagar Before Buying

Since the rate of gold changes daily, when buying or selling it, you must stay up-to-date with the current market trends by checking the gold rate in Bhavnagar today and comparing it with its historical prices in the city. By analyzing these trends, you'll be better equipped to navigate the market and make smart investment choices. Bhavnagar's status as one of India's highest gold-consuming cities further emphasizes the importance of being informed.

Factors that Affect Gold Prices in Bhavnagar

Bhavnagar gold rate varies due to many reasons, which are as follows:

Taxes and State Charges: It's important to note that gold rates in Bhavnagar differ from other Indian cities due to state taxes, octroi, and transportation costs.
Demand and Supply: Fluctuations in demand and supply dynamics drive gold price movements in Bhavnagar.
US Dollar Value: The value of the US Dollar significantly impacts today's gold price in Bhavnagar for 22 Karat, as changes in the currency's value directly affect gold costs.
Markup:Local jewellers' markup over the import price contributes to the final gold price; a higher margin results in a higher price
Rates of Interest:Prevailing interest rates play a crucial role in determining gold prices in Bhavnagar, as fluctuations in these rates influence buying and selling decisions.

How are Bhavnagar’s Gold Prices Determined?

The demand for gold in Bhavnagar is largely driven by its residents, who predominantly prefer 916 hallmarked gold, certified by the Bureau of Indian Standards (BIS) and guarantees the gold's purity. To determine the current 916 gold rates in Bhavnagar, consider the following factors:

International Gold Price:Local jewellers add a markup to the international gold price, resulting in the prevailing gold price in Bhavnagar.
Demand and Supply: The city's gold market price is directly influenced by the buying and selling volume, which is shaped by demand and supply dynamics.
Purity: The price of 916 gold, certified for its purity, differs from other variants like 18-karat or 24-karat gold.

Evaluate Gold Price in Bhavnagar with Purity and Karats Method

To determine the genuine value of gold based on the current market price in Bhavnagar, it's essential to evaluate it carefully whether you're planning to buy, sell, or apply for a gold loan. Use the following formulas to calculate the gold price:

Purity Method (Percentage): Gold value = (Gold’s purity percentage x weight x current gold rate) / 24
Karats Method: Gold value = (Gold’s purity in karats x weight x current gold rate) / 100

These formulas will help you accurately assess the value of gold in Bhavnagar, enabling you to make informed decisions

Reasons Why Gold Rates Differ Between Bhavnagar and Other Cities

No two cities are exactly the same, hence it goes without saying that the gold rates in different cities will have different values. That’s because the volume of buying and selling gold varies from city to city. For instance the volume of Jaipur won’t be the same as that of Bhavnagar. HEre are some common reasons that may help you understand why the gold rates in Bhavnagar differ from the next city:

Import Price: Depending on the varying gold rates across the globe, the price of importing gold varies. Plus, even the margin that the local jeweller sets over and above this import price varies, hence different gold rates.
Volume: The quantity of gold traded by Bhavnagar's residents differs from that of other cities. Higher demand can lead to lower gold prices, while lower demand can have the opposite effect.

Techniques to check the purity of gold

While DIY methods can provide initial insights, expert assistance ensures accurate results. Thus, you must consult a professional jeweller or gold assayer. However, there are many other techniques to assess gold’s purity. These are:

Visually inspecting the gold with a magnifying glass for hallmark stamps indicating purity.
Checking for signs of discoloration or tarnishing, which may indicate damage.
Conducting a simple magnetic test, as real gold is non-magnetic

For more advanced testing, consider the nitric acid test. Due to the chemicals involved, it's recommended that a certified gold dealer perform this test.