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Gold holds significance in Ranchi, much like in other regions of India, as it is associated with multiple rituals and traditions in the country. Additionally, the metal acts as a hedge against major economic issues like inflation, recession, and so on. If you are planning to purchase this advantageous asset in Ranchi, it is important to be aware of the current rates of gold in the city.

Gold Price in Ranchi

The following table provides information regarding the latest gold rate in Ranchi:

Weight

24 Karat Gold Rate Today

24 Karat Gold Rate Yesterday

Price Difference

1 g

₹6,206

₹6,206

₹ 0

10 g

₹62,060

₹62,060

₹ 0

100 g

₹6,20,600

₹6,20,600

₹ 0

*Disclaimer: The aforementioned rates are subject to change as per market conditions.

22 & 24 Karat Gold Rate in Ranchi in the Last 10 Days

The price of gold in Ranchi over the last 10 days is listed in the following table:

Date

Standard 22 Karat Gold

Pure 24 Karat Gold

1 g

10 g

1 g

10 g

Feb 23, 2024

₹5,910.00

₹59,100.00

₹6,206.00

₹62,060.00

Feb 22, 2024

₹5,910.00

₹59,100.00

₹6,206.00

₹62,060.00

Feb 21, 2024

₹5,920.00

₹59,200.00

₹6,216.00

₹62,160.00

Feb 20, 2024

₹5,895.00

₹58,950.00

₹6,190.00

₹61,900.00

Feb 19, 2024

₹5,905.00

₹59,050.00

₹6,200.00

₹62,000.00

Feb 18, 2024

₹5,880.00

₹58,800.00

₹6,174.00

₹61,740.00

Feb 17, 2024

₹5,880.00

₹58,800.00

₹6,174.00

₹61,740.00

Feb 16, 2024

₹5,870.00

₹58,700.00

₹6,164.00

₹61,640.00

Feb 15, 2024

₹5,850.00

₹58,500.00

₹6,143.00

₹61,430.00

Feb 14, 2024

₹5,860.00

₹58,600.00

₹6,153.00

₹61,530.00

*Disclaimer: The rates are subject to change as per market conditions.

Points to Remember When Buying Gold in Ranchi

To make sure that you purchase only authentic gold at beneficial terms, stay informed about the present gold prices in Ranchi before making a purchase. Take into account the making charges linked to your purchase. Familiarise yourself with the gold's purity levels, measured in karats. Confirm the presence of BIS (Bureau of Indian Standards) hallmarks to guarantee the gold's authenticity and purity. Authenticate the credibility of the seller and make sure to ask for a physical receipt for the transaction. Double-check the accuracy of the purchased gold's weight.

Gold Investment in Ranchi

You can make gold investments in Ranchi through the following avenues:

  • Gold ETFs

  • Gold mutual funds

  • Sovereign gold bonds (SGBs)

  • Gold derivatives like futures and options

  • Physical gold like coins, bars, and jewellery

FAQs

What factors contribute to changes in Ranchi's gold rates?

Here are some factors that can influence the changes in gold rates in Ranchi:

  • Supply and demand dynamics

  • Central bank policies

  • Inflation rates

  • Geopolitical events

  • Currency strength

  • Interest rates

  • Market speculation

  • Mining production levels

  • Economic conditions

How can I check the purity of the gold I purchase in Ranchi?

Ask for a certificate of authenticity and physical receipt to check the purity and weight of the gold purchased. You can also test the gold using the following methods:

  • Stamp Test: Verify gold authenticity by inspecting the BIS hallmark

  • Skin Test: Observe any discolouration or allergic reactions when gold is applied to skin

  • Magnet Test: Assess the gold's authenticity using a magnet as the metal is not magnetic

  • Ceramic Test: Inspect the gold’s colour and authenticity by scratching it against ceramic

  • Acid Test: Determines gold purity by using acid and analysing the reaction

Do I have to submit KYC documents to invest in gold?

You have to compulsorily submit your KYC documents only in the case of sovereign gold bond investments. For other investments like gold ETFs (digital gold) and physical gold, it is not a mandate.

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