The present gold rate in Bihar fluctuates due to a lot of factors. Gold, at the current gold rate in Bihar, is a must-have in the investment portfolio. The gold prices fluctuate daily. To get good returns on gold, you need to invest it on a long-term basis. Gold can also be excellent collateral for securing gold loans. 

What Is Today’s Gold Rate In Bihar?

Ever wondered why the Bihari’s invest heavily in gold? The current gold rate in Bihar as of 19th April 2024, or the 22-carat gold rate in Bihar today, is ₹ 6925/gm. The 24-carat gold rate in Bihar is ₹ 7271/gm.

Gold Rate In Bihar for the Last 10 Days

Here's how gold has performed over the last 10 days.

Historical Prices of Gold Rate in Bihar

Take a quick look at how gold has behaved in the last 3 months in Bihar. 

Factors Affecting the Gold Rate in Bihar

Investors in Bihar look for liquidity, safety and ROI (Return on Investment) when investing in gold. The several factors that affect gold prices are briefly summed here.

• Gold performed well when the equity returns were low in the pandemic and financial crunch years.
• It is common that when the economy gets affected, the price index rises, inflation rises, globally economies slow down, leaving investors with high liquidity who prefer to invest in gold.
• The government reserves and import duties in USD impact the gold prices. In India, the prices depend on RBI’s buying and selling quantities and policies.
• Fixed Deposit interest rates are low, making investors buy gold and push prices upwards. 
• Whenever the US currency fluctuates, the gold rate in Bihar is bound to get affected as India imports gold and pays for its imports in USD. 
• Globally, the gold demand has increased while supplies are limited, causing the prices to surge

Tip: There is a limit to the global production of gold, meaning the prices of gold are bound to go up.

Gold Rate Today in Bihar Drives the Cost of Jewellery

How does one calculate the final cost of a jewellery item? 

The final jewellery price is equal to [Gold Weight in grams x (multiplied by) the 22K today gold rate in Bihar or18-carat gold rate in Bihar]+ [Wastage and Making charges]+ [ 3% GST on the final price]. 

Tip: Gold rates differ from the daily rates and from jeweller to jeweller. The goldsmith’s association declares the daily rate for jewellery items.

Gold Investment Options in Bihar

Gold can be bought at the current gold rate in Bihar either in physical or digital form. 

Physical gold is the most common mode where you invest in gold bars, coins or jewellery at the BIS certified 916 gold rate in Bihar. Physical gold has certain disadvantages like 

• Designing and making charges add to the buying price over and above the gold rate in Bihar today 916.
• Insurance and safe storage add to the cost as well.

Tip: Remember that the liquidity of coins with numismatic values, KDM gold with no BIS certificates and jewellery without certification or purchase receipts can be hard to sell at today’s gold rate in GRT Bihar. 

Digital Form

The digital route of purchasing gold overcomes the physical gold limitations. It includes Digital or E-Gold, Gold Mutual Funds, Gold ETFs and Sovereign Gold Bonds. 

Digital Gold: Digital gold is bought on the digital platform. Platforms like Khatabook allow you to start saving small and accumulating gold in an insured locker until maturity. You can purchase units of digital gold online, typically starting with your savings and accumulating from one gram onwards at the gold rate in Bihar 22k.

Gold ETFs: The Gold ETFs or Exchange Traded Funds are stock exchange-traded like shares. Gold stocks of refining/mining companies are also a good buy.  However, a Dematerialised or Demat account is needed to begin investing in Gold ETFs. 1 ETF is equal to 1gm of 24K gold and is available at the 24-carat gold rate in Bihar today.

Gold Mutual Funds: Asset management companies manage gold mutual funds. They invest in the ETFs and follow the fund structure. You can also invest in mutual funds through various Apps. 

Derivatives, futures, commodity trading: These forms and SIPs are all stock-market related options. Commodity trading in gold, silver and other alloy metals is popular though they require large investments. Futures lock in the strike rate for gold purchases at the specified gold rate while futures contracts mean that you will sell a fixed quantity of gold on a specified contractual date.

Comparative Analysis of Gold Investment Options:

Let's understand how gold investments compare with digital gold and the mutual funds investing in gold. 

Physical Gold: This investment is made in physical gold like bullion or jewellery. The charges levied are the equivalent of the price, making charges and GST. Physical gold carries the risk of burglary and insurance charges. It has no paperwork hassles, though its BIS certification and purchase receipt are essential when selling.

Gold Funds: The investment is in the exclusive fund from companies in gold mining. Gold funds add a nominal charge as fund management charges to the 916 gold rates in Bihar today. The paper gold suffers no risk of theft. These require paperwork when investing, and the fund certificate is needed when trading it in at the maturity value. Gold funds are dependent on the profits made by the gold mining company and not today’s gold rate in Bihar 916. Gold funds are bank-backed and insured too. 

Digital Gold: The investment is made digitally and can be of any value accumulating units of gold, where 1 unit=1 gm of physical gold. It includes brokerage fees, asset management charges, and physical gold cost at the gold rate today in Bihar. It has no risk of theft since it is paper gold till the time of delivery. The paperwork is simple, and gold is kept in insured vaults until it is delivered. The gold rate in Bihar 916 affects the price directly. Buy units of digital gold on the reputed platform of Khatabook.

Risks and benefits of Gold Investment Options:

Want to maximize your returns on investments in gold? Here’s the performance comparison of gold investments versus other investments.

Risks: While gold is an excellent hedge against inflation and a fall in currency rates like the USD, Indian Rupee etc., it carries the risk of theft, insurance costs, making charges, wastage charges and more. The bonds, deposits in banks are comparatively low-risk options.  However, their interest rates are low and most institutions penalize early closures with a 1% penalty charge on interest earned.

Benefits: Gold in the physical or electronic form provides you with both early liquidation and gold loan options. Compared to gold prices two decades ago, the returns in gold are phenomenal. Besides, gold is a high-liquidity investment that is easy to sell. Digital gold units are exchangeable for physical gold and leverage your returns on gold prices. 

Different Gold Types:

All that glitters is not gold! Pure Gold is 24K, while gold in jewellery is generally 22K/ 18K because 24K gold is too soft to cast jewellery from. That’s why the price of 24K gold is higher than the 22K or 18K gold, which is very popular in jewellery making. Did you know that gold is also used in several electronic, medical and measuring instruments? Gold can also be given a rosy hue, greenish tint, whitish appearance just by using a different alloy like Silver, Copper, Tin, Palladium etc. Beware when you buy jewellery at the 18K gold rate in Bihar. White/ rose gold also is more expensive to buy because of the processing charges while fetching lower prices when you sell.

Tip: 916 rating in gold means that your gold is 91.67% pure or contains 91.67 gms for every 100gms of pure gold. 

Checklist When Buying Gold Jewellery

Are you planning to buy jewellery in Bihar? Remember that when you sell physical gold, the amount of alloy in it fetches zero returns. Higher the BIS rating the better your rate when you sell. However, you never recover wastage and making charges unless you hold gold for a substantial period of time. Here’s what to check.

• Purity and BIS Certification: The Bureau of Indian Standards certifies the purity of gold. The most popular 22K or 916 gold means that every 100gm of gold contains 91.6gm of pure gold. 
• Buyback Terms: The buy-back terms are fundamental. Many jewellery stores assure customers of buyback facilities at the prevailing gold rate today 22k in Bihar and exchange of jewellery in gold on a gram-to-gram basis less the wastage charges.
• Wastage and Making Charges can be in the range of 10 to 20% plus the GST applicable at 3% of the purchase price over and above the today gold rate in Bihar 916.

Tip: Buying digital gold is the modern way to save, leverage gold prices and buy physical gold. 

Leveraging Digital Gold in Bihar:

Digital gold is a preferred investment today in Bihar because you can start buying gold at the day’s price with as little as Rs 1. For Ex: Khatabook promises guaranteed units of gold on the digital platform. Further, the digital gold is stored in insured digital lockers till encashment. 

Buying/ Selling/Trading Digital Gold:

Compared to physical gold, digital gold is easy to buy, trade or sell from home. You can also convert it to physical gold at will and raise a gold loan against it. The buying process is simple. All you need to do is enter the weight of the gold and choose the buy/ trade/ sell options using your mobile phone. Enter the weight to buy/trade/sell and make or take your payments. Simple isn’t it? You can also opt to convert it to physical gold by ordering gold jewellery with just a few clicks on the phone. 

Tip: The Khatabook digital platform delivers your accumulated gold at your address in tamper-proof packaging.

What is a Gold Loan?

A gold loan or a loan against gold is the fastest and easiest short-term loan acquired at the gold rate today in Bihar. One can pledge gold in jewellery, coins, gold bars etc., to a bank and obtain a secured loan from the bank or private companies. This loan is made temporarily, and the sum of money offered is linked to 90% of today's gold rate in Bihar and gold value at the 916 gold rate in Bihar today. It is repaid with bank interest within the specified time.  A default causes the lender to auction the gold collateral. The best part is that digital gold can be converted to physical jewellery and used for loan purposes.

Tip: Availing a gold loan means ready money for expenses. Redeem your gold at 9.5 to 11% interest rates to ensure your gold stock is never depleted!

Locations to Buy Gold in Bihar

Gold jewellery can be bought online or in-shop at today’s gold rate in GRT Bihar, across its major cities, which have reputed jewellery stores like in the list below.

Conclusion:

You should be careful when investing in gold. Gold prices can vary due to many factors. Unless you invest in gold for a longer period, there is no guarantee of a good return.  Bullion is one way of investing in gold.  You can explore investments, gold stocks, ETFs etc., in Bihar. You can use a trusted platform like Khatabook for better returns.