Gold Rate depends on the demand and supply, but with gold the demand often stays stable despite higher prices. Gold Rate generally reaches its peak during the wedding season and most of the year except monsoon season.

Gold is generally traded in the form of 24 karat gold which is of 99.9% purity is also referred to as pure gold and 22 karat gold which is 91.6% purity, though 20 karat, 18 karat etc. An average customer never buys 24 karat gold unless it is for investment purposes and in the form of coin, bar, e-gold.

The price of 24 karat gold for 8 grams in Jamshedpur as of 15th October 2021 is at the rate of 39,104 rupees and for 1 gram of 24 karat gold is 4,888 rupees. And the price of 22 karat gold for 8 grams as of 15th October 2021 is at the rate of 37,240 rupees and for 1 gram of 22 karat gold is at the rate of 4,655 rupees. Thus the prices have shown an increase when compared to the last few days; which shows us that the demand for gold has increased.

Is Jamshedpur a good place to buy Gold?

Jamshedpur is the district headquarters of Purbi Singhbhum district in Jharkhand. Jamshedpur; it’s completely an industrial city which is rich in minerals, iron ore, coal, manganese bauxite and lime. Jamshedpur is not a good place to buy gold when compared to Latur.

The gold rate Latur (south eastern part of Maharashtra) for 8 grams and 1 gram of pure gold (24 karat) is 38,624 rupees and 4,828 rupees respectively as of 15th October 2021 which is comparatively cheaper than Jamshedpur; and the gold rate for 8 grams and 1 gram of 22 karat gold in Latur is at the rate of 36,784 rupees and 4,598 rupees respectively which is also cheaper when compared to the gold rate at Jamshedpur as of 15th October 2021.

What is the price of 1gm gold in Jamshedpur?

The price of 1gm of pure gold (24 karat) is at the rate of 4,862 rupees and 22 karat is at the rate of 4,630 rupees.

Is it a good time to buy gold in Jamshedpur?

From the below graph we can conclude that it’s not the best time to buy gold in Jamshedpur. For the past 30 days the price of gold has been increasing due to the increased demand in gold and also the graph is showing an uptrend. The trend is the same for 1gm of 24 karat as well as 22 karat gold. To stay updated on jamshedpur gold rate or any other information related to gold investments visit ‘Khatabook’

Conclusion

Demand and season plays an important role in the price of gold. It is hereby clear that the demand and price of gold is directly proportional. Gold is considered as one of the best investments by the people; it is the best option when the economy is not performing well and also there has been an increase in the number of gold loans provided by the Indian banks.