The City of Lakes, Bhopal, has had a long tryst with gold, dating back centuries when jewellery adorned royal families and the precious metal embellished temples and palaces. Besides this cultural attachment, gold has also served as a symbol of prosperity and security and is a valuable asset for generations in Madhya Pradesh's capital, like all across India. Due to these reasons, the affinity to gold in Bhopal has persisted till today, making the city a prime location to buy this commodity. While purchasing it, you must know more than just the gold rate in Bhopal. Many factors must be considered, such as the difference in karats, GST, tips to buy gold, and more. Let's take a look at all these aspects.
Gold Price in Bhopal for 22K and 24K Gold Purities
22 Carat Gold Price Per Gram in Bhopal - (Today & Yesterday)
If you're planning for gold investment, check and compare the 22 carat gold rate in Bhopal. Consider taking look at the following information given below:
| Gram | Today | Yesterday | Price Change |
|---|---|---|---|
| Gold rate for 1 gram | ₹ 6,589 | ₹ 6,584 | ₹ 5 |
| Gold rate for 10 gram | ₹ 65,889 | ₹ 65,838 | ₹ 51 |
| Gold rate for 12 gram | ₹ 79,067 | ₹ 79,006 | ₹ 61 |
Today 24 Carat Gold Price Per Gram in Bhopal - (Today & Yesterday)
Now you can compare the 24K gold rate per gram in Bhopal. Check the following table as given below:
| Gram | Today | Yesterday | Price change |
|---|---|---|---|
| Gold rate for 1 gram | ₹ 7,193 | ₹ 7,188 | ₹ 6 |
| Gold rate for 10 gram | ₹ 71,931 | ₹ 71,875 | ₹ 56 |
| Gold rate for 12 gram | ₹ 86,317 | ₹ 86,250 | ₹ 67 |
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 Bhopal For The Last 10 Days
Over the past 10 days, the rates of 22-karat and 24-karat gold have mostly remained stable, but there has been a minor increase in gold prices in Bhopal. Global market trends, fluctuations in the rupee exchange rate, local market conditions, and government policies influence this increment. The table below displays the trend of gold rates in Bhopal over this period.
| Day | 22K Pure Gold | 24K Pure Gold |
|---|---|---|
| 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 |
| 30 Aug, 2024 | ₹ 6,591 | ₹ 7,195 |
| 29 Aug, 2024 | ₹ 6,595 | ₹ 7,200 |
| 28 Aug, 2024 | ₹ 6,566 | ₹ 7,169 |
| 27 Aug, 2024 | ₹ 6,573 | ₹ 7,176 |
| 26 Aug, 2024 | ₹ 6,599 | ₹ 7,204 |
Monthly and Weekly Trends of Gold Rate in Bhopal
The visual representation below illustrates the gold rate trends over specific periods:
Gold Price Calculator in Bhopal
Gold value: ₹ 6,588.90
What is the Current Gold Rate Trend in Bhopal?
Due to constant fluctuations in gold rates, predicting its trend becomes challenging. Keeping an eye on the changing gold rate in Bhopal can help understand trends.
Importance of Checking Gold Rate Today in Bhopal Before Buying
Bhopal's rich heritage and cultural significance are intertwined with the shine of gold. Following some simple guidelines will let you confidently navigate the Bhopal gold market and make informed purchases aligning with your needs and budget. Remember, gold is a valuable investment, and making wise choices ensures its enduring value and beauty for future generations. To navigate this precious metal market with confidence, consider these key aspects:
- Stay informed about the Current Gold Rate in Bhopal
Tracking real-time gold rates in Bhopal through reliable platforms like IIFL is crucial. This allows you to understand current market trends and make informed decisions. Not only do you access the latest prices, but you can also analyze historical data and identify patterns, empowering you to make well-timed purchases.
- Choose Wisely According to Karats
Opting for 18, 22, or 24-karat gold depends on your needs and purpose of use. Remember, each karatage strikes a unique balance between purity, durability, and cost. For example, while 24-karat gold is ideal for investment due to its high purity, its delicate nature makes it less suitable for everyday wear. Conversely, 22-karat gold offers a blend of purity and strength, making it a popular choice for traditional jewellery. Always verify the BIS hallmark certification in both cases to guarantee the stated purity and gold's authenticity.
- Negotiate Effectively
You can negotiate with the gold seller based on making charges, a percentage of the gold price. Festive seasons or special occasions offer discounts or lower making charges. The breakdown of these charges includes factors like labour and wastage costs. Understanding
these will equip you for effective negotiation and ensure pricing transparency.
- Choose Only Trusted Sellers
The seller's reputation dramatically impacts the quality and authenticity of your purchase. Choose established jewellers known for their positive customer feedback and commitment to strict quality standards. These sellers adhere to hallmarking regulations and provide necessary certifications, giving you peace of mind about the gold's genuineness. At the same time, exercising caution against unverified sources is essential to avoid purchasing counterfeit or impure gold.
Factors that Affect the Gold Prices in Bhopal
Many factors make the value of gold in Bhopal increase and decrease. The complex interplay of these aspects pushes prices up and pulls them down. Staying informed about these dynamics and their potential impact on the Bhopal gold market can empower you to make informed decisions when buying or selling this precious metal. These factors are:
- Fluctuations in Currency Internationally
The relationship between the Indian rupee and the US dollar is crucial. When the rupee weakens against the dollar, gold prices in Bhopal tend to rise, and vice versa.
- Differences in Demand and Supply
An increased demand translates to higher prices, especially during festive seasons, when people buy gold for cultural and religious purposes.
- Interest Rate
When the interest rates increase due to opportunity costs, the gold rate also shoots up.
- Local Market Factors
Jewellery associations, retailers, and even local preferences can influence gold pricing in Bhopal. Understanding these dynamics will enable you to buy gold more wisely.
- Global Conditions and Inflation
Global economic conditions, including periods of uncertainty or high inflation, can increase the demand for gold as a safe asset.
How is Gold’s purity determined?
In India, understanding gold purity revolves around the karat system, a scale ranging from 1 to 24. Pure gold, the most valuable, sits at 24 karats. This system expresses purity as a fraction: the amount of pure gold present compared to the total metal in the alloy.
To ensure you receive what you pay, Indian jewellers often utilize a hallmarking system overseen by the Bureau of Indian Standards (BIS). Look for the BIS logo, karat purity, jeweller's mark, and year of hallmarking on your gold piece. These markings act as a guarantee of declared purity, offering confidence and peace of mind.
1 Gram Gold Price in Bhopal: How is it Calculated?
You must know how to calculate 1-gram gold rate in Bhopal to make effective comparisons and make the right purchase. Purity and weight form important aspects of calculation:
- Purity Method (Percentage): Gold value = (Gold’s purity x weight x gold rate) / 24
- Karats Method: Gold value = (Gold’s purity x weight x gold rate) / 100
Reasons Why Gold Rates Differ Between Bhopal and Other Cities
There are many reasons why the gold rates vary in Bhopal and other cities. These factors include global gold price, economic conditions, currency exchange, local taxes, and retailer margins.
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