Gold Rate In Jamshedpur

Gold rates depend on the basics of demand and supply, but with gold, the demand often stays stable despite higher prices. Gold demand generally peaks during the wedding season – which is most of the year except during the monsoon.

Gold is generally traded in the form 24-karat (99.9% purity) and 22-karat (91.6% purity), though 20-karat, 18-karat and 14-karat gold jewellery is also in vogue. An average consumer, however, never buys 24-karat pure gold unless in the form of investments such as gold coins or bars, or e-gold and gold bonds.

Gold Rate Trend in Jamshedpur from October 2023 to December 2023

Gold demand in Jamshedpur

Gold is not merely a matter of investment for Indians. We use gold for gifting, to indicate social status, to maintain social prestige, and for auspicious and special occasions. Even the poor save money in bits to buy gold at some point in their lives. Weddings where the bride is not sparkling with gold jewellery is almost unheard of in the country. And all this jewellery is not always lying idle – we also use it as security to get loans, and if times are hard, we sell it off at the best prices.

The high number of jewellery shops in Jamshedpur indicate that the demand for the precious metal is quite high in the city. National brands such as Tanishq, Tribhovandas Bhimji Zaveri, PC Chandra Jewellers and Reliance Jewels have their showrooms in Jamshedpur.

Gold investment in Jamshedpur

Gold is a safe haven for investment as it can act as a hedge to inflation. Rising gold prices make it an attractive investment with a high resale value. Following the trend of gold investment across the country, people in Jamshedpur buy gold in two main forms:

Physical gold: The most common form of investment in gold is to buy ornaments and gift articles. There are several jewellery shops and showrooms in Jamshedpur to cater to this demand. People looking at gold merely as investment also buy gold coins and bars. This is available at banks and other authorised financial institutions.

Market trade: People who do not want to buy gold in the form of jewellery can opt for paper gold and bonds. This investment option is not very popular in India currently, but many people are experimenting with this. The options available are: Sovereign Gold Bonds, Gold Exchange Traded Funds and e-gold. Gold Monetisation Scheme is also available to those who want to put their unutilised gold ornaments and coins to a profitable use.