This article focuses on the gold rate in Odisha and how past fluctuations on gold rates can impact price and demand for gold rate in Odisha today.
We will also focus on the primary and secondary factors that have been impacting gold rate in Odisha live and how to deal with these factors in a simple and effective way.
Gold holds an important part in Indian civilization since innumerable years. Its worthiness has been increasing over the past decades and will continue to increase in the near future.
The demand for gold jewellery among different classes of the society is seen to rise with different reasons.
22 Carat Gold Rate in Odisha – Gold Price in Odisha Today
Also, Check out the Silver Rate in Odisha Today
22 carat gold comprises only of 91.6% of pure gold. The table below represents data on 22 carat gold rate in Odisha. It is a helpful medium to compare yesterday’s gold rate with today’s gold rate. Check this section for 22 carat gold price in Odisha today.
24 Carat Gold Rate in Odisha Today – Gold Price in Orissa
24 carat gold is completely pure gold. The below table has details on 24 carat gold rate in Odisha today and percentage change to pervious days rate.
This section can be used to check pure gold price in Odisha and compare yesterdays and todays rate for further analysis.
Check out some amazing Gold Calculators
|Odisha Gold Investment Calculator||Gold Rate Calculator of Odisha|
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Gold Price in Odisha for Last 15 Days
A 15 day moving average is very beneficial in order to undertake further price analysis of an investment. The below table is a gist of the past 15 day fluctuations of the gold price in Odisha.
It will help you understand what should be your next move towards the investment.
Find Gold Rates of other Indian Cities & States
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Graph of Gold Rate Today in Odisha – Also Past Gold Price in Odisha
The easiest way to understand figures is by graphs. Therefore, we have compiled data in the form of graph to make it lucid for you to run through gold rate in Odisha. This section focuses on the fluctuation of gold rate in Odisha.
Gold Price in Odisha – Past 6 Months Price
The Gold rate in Odisha for the past 6 months is detailed below so that you may understand the long term movement of gold rate in Odisha.
This data of gold rates of the past 6 months will give you an insight to determine your gold purchase and sale strategy.
Gold rate analysis in Odisha for August 2020
|Gold Rates in August 2020||22 Carat Gold Rate||24 Carat Gold Rate|
|01-08-2020||₹ 5,178||₹ 5,649|
|08-08-2020||₹ 5,380||₹ 5,869|
|15-08-2020||₹ 5,100||₹ 5,565|
|22-08-2020||₹ 5,048||₹ 5,506|
|31-08-2020||₹ 4,954||₹ 5,404|
|Highest Rate in August||₹ 5,420||₹ 5,913|
|Lowest Rate in August||₹ 4,912||₹ 5,358|
Odisha is a state that is known for its sea beaches and developed cities. People here are involved in various types of trading among which gold finds an important place. A large number of traders deal with both of the forms of this precious metal every day and their turnovers are quite high.
The residents of Odisha mostly invest in gold jewelry as it is the best asset to grow money in a short time. Thus, they need to be thorough with the latest rates of this precious metal to ensure they are not making a bad deal.
In this article, readers will find the prices for 22 Ct and 24 Ct Gold in Odisha along with the performance percentage for August 2020.
- The rate of 24 Ct Gold was very high throughout the month with the opening price of Rs.5649 per gram and the closing price of Rs.5358 per gram
- 22 Ct Gold rate touched the highest mark of Rs.5420 per gram and the lowest for a gram was Rs.4912
- The maximum price of one gram of 24 Ct Gold was Rs.5913 and the minimum was Rs.5358
- The opening rate of 22 Ct Gold was Rs.5178 and the closing rate was Rs.4954 for one gram
- A performance percentage of 10.34% was calculated for 22 Ct Gold and 10.36% for 24 Ct in August 2020
- In Maharashtra, gold rates were very high in the second week of the month
July 2020, Gold Rate Movement in Odisha
|Gold Rates in July 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-07-2020||₹ 4,674||₹ 5,095|
|08-07-2020||₹ 4,678||₹ 5,099|
|15-07-2020||₹ 4,713||₹ 5,129|
|22-07-2020||₹ 4,785||₹ 5,220|
|31-07-2020||₹ 5,125||₹ 5,582|
|Highest Rate in July||₹ 5,125||₹ 5,582|
|Lowest Rate in July||₹ 4,610||₹ 5,062|
We prepared a vivid table to show you the gold rate in Odhisa. We have stated the gold rate for both the 22 and 24 carat gold. In the meantime, it also stated the percentage performance of both the gold categories at once.
Note that this true gold value is observed for the month of June 2020. Therefore, you follow the data especially the highest and lowest value so that you can make an informed buy.
- The highest gold price for 22 carat gold was Rs 5,125.
- The highest gold price for 24 gold was Rs 5,582.
- Lowest price for 22 and 24 carat gold was recorded as Rs 4,610 and Rs 5,062 respectively.
- The percentage performance of 22 carat gold was 11.17%.
- The percentage performance of 24 gold was observed as 10.27%.
- Difference in percentage price between the two is not huge.
June 2020, Gold Rate Movement in Odisha
|Gold Rates in June 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-06-2020||₹ 4,512||₹ 4,922|
|08-06-2020||₹ 4,435||₹ 4,842|
|15-06-2020||₹ 4,532||₹ 4,945|
|22-06-2020||₹ 4,610||₹ 5,029|
|30-06-2020||₹ 4,627||₹ 5,048|
|Highest Rate in June||₹ 4,645||₹ 5,066|
|Lowest Rate in June||₹ 4,427||₹ 4,835|
June 2020 was not like any other year in Odisha as the state was going through a long lockdown process. The local gold markets were partially closed and traders saw less business even though Odisha has its famous festival of RathYatra in this month.
Below are the details of the performance of this commodity in June that will draw a clear picture for readers.
- The topmost value recorded for one gram of 22 Ct Gold in this state was Rs.4645
- 22 Ct Gold reached the lowest price of Rs.4427 per gram in June this year
- The maximum and minimum rates recorded for 1 gram of 24 Ct Gold were Rs.5066 and Rs.4835 respectively
- Gold price took a sharp turn in the fourth week of the month recording a hike of more than Rs.100
- The performance percentage was below average for both the forms of gold with 4.78% and 4.92%.
May 2020, Gold Rates in Odisha
|Gold Rates in May 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-05-2020||₹ 4,341||₹ 4,620|
|08-05-2020||₹ 4,449||₹ 4,725|
|15-05-2020||₹ 4,484||₹ 4,787|
|22-05-2020||₹ 4,487||₹ 4,868|
|31-05-2020||₹ 4,509||₹ 4,916|
|Highest Rate in May||₹ 4,592||₹ 4,967|
|Lowest Rate in May||₹ 4,341||₹ 4,620|
The table above compares the prices of 22 carat and 24 carat gold rates in Odisha for the month of May. It analyses how the prices tend to vary from the 1st day of the month until the day 31st. Key takeaways from this data is also mentioned below
- Weekly price change is mentioned which reflect major impact in price changes.
- Highest recorded gold rate in May in Odisha is Rs.4,592 for 22 Carat and Rs.4,967 for 24 Carat.
- Also, the lowest recorded price is Rs.4,341 for 22 Carat gold and Rs.4,620 for 24 Carat on the same day that is 1st
- The prices have risen for both the categories during the end of the month.
- The overall percentage change for 22 carat and 24 carat gold rate in Odisha per gram has been recorded 5.78% and 7.51% respectively for the month of March.
April 2020, Gold Rate Movement in Orissa
|Gold Rates in Apr 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-04-2020||₹ 4,067||₹ 4,268|
|08-04-2020||₹ 4,062||₹ 4,268|
|15-04-2020||₹ 4,196||₹ 4,576|
|22-04-2020||₹ 4,105||₹ 4,478|
|30-04-2020||₹ 4,395||₹ 4,670|
|Highest Rate in Apr||₹ 4,474||₹ 4,719|
|Lowest Rate in Apr||₹ 4,015||₹ 4,266|
The gold rate movement in Orissa for the month of April is shown below. Moreover, the key- points derive from the table are also listed below.
- For the month of April the highest recorded gold rate in Odisha is Rs.4,474 for 22 Carat and Rs.4,719 for 24 Carat gold.
- The lowest price for the month is Rs.4,015 and Rs.4,266 for 22 carat and 24 Carat gold respectively.
- The prices have risen for both the categories during the end of the month.
- Overall percentage change for 22 carat and 24 carat gold rate in Odisha per gram has been recorded 11.43% and 10.62% respectively for the month of April.
- The change in the month of April is considerably higher than the change in rates for the month of May
March 2020, Gold Rate Movement in Odisha
|Gold Rates in Mar 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-03-2020||₹ 4,103||₹ 4,310|
|08-03-2020||₹ 4,369||₹ 4,589|
|15-03-2020||₹ 4,248||₹ 4,464|
|22-03-2020||₹ 4,021||₹ 4,222|
|30-03-2020||₹ 4,067||₹ 4,271|
|Highest Rate in Mar||₹ 4,369||₹ 4,589|
|Lowest Rate in Mar||₹ 3,961||₹ 4,159|
The summary for the gold price movement in Odisha for March are noted below. Important points are mentioned in the below section.
- Highest recorded gold rate in March in Odisha is Rs.4,369 for 22 Carat and Rs.4,589 for 24 Carat.
- The prices have decreased towards the end of the month for both the category.
- And the lowest recorded price is Rs.3,961 for 22 Carat gold and Rs.4,159 for 24 Carat gold.
- The overall percentage change in the gold price in Odisha per gram from the 1st day of March to the last day of March has been approximately 10.30% for 22 carat and 10.34% for 24 carat gold.
- Gold price in Odisha per gram decreased towards the month end for both the categories.
February 2020, Gold Price Movement in Odisha
|Gold Rates in Feb 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-02-2020||₹ 4,001||₹ 4,201|
|08-02-2020||₹ 3,965||₹ 4,164|
|15-02-2020||₹ 4,017||₹ 4,217|
|22-02-2020||₹ 4,159||₹ 4,370|
|29-02-2020||₹ 4,176||₹ 4,383|
|Highest Rate in Feb||₹ 4,228||₹ 4,441|
|Lowest Rate in Feb||₹ 3,965||₹ 4,164|
A summary of 22 carat gold rate in Odisha and 24 carat gold prices for the month of February is mentioned below. It will help you understand the price fluctuation that takes place during different months.
- The highest price recorded for 22 carat gold is Rs.4,228 and for 24 carat gold is Rs.4,441
- The lowest price seen is Rs.3,965 for 22 carat gold and Rs.4,164 for 24 carat gold
- Curve has seemed to get flatter in the month of February as compared to March and April
- Gross performance is recorded as 6.63% for 22 carat and 6.65% for 24 carat.
- Additional data for the gold rate in Odisha per gram on the subsequent days of February are also mentioned in the table.
January 2020, Gold Price Movement in Odisha
|Gold Rates in Jan 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-01-2020||₹ 3,842||₹ 4,029|
|08-01-2020||₹ 3,980||₹ 4,179|
|15-01-2020||₹ 3,883||₹ 4,080|
|22-01-2020||₹ 3,959||₹ 4,157|
|30-01-2020||₹ 3,966||₹ 4,162|
|Highest Rate in Jan||₹ 4,055||₹ 4,257|
|Lowest Rate in Jan||₹ 3,842||₹ 4,029|
A glimpse of gold price in Odisha for the month of January is given in this section. The table has data on 22 carat gold price in Odisha and 24 carat gold information as well. Important points to note from the data are follows:
- The slope gets more steeper in January
- Weekly change in data is available in the below table
- The highest rate noted is Rs.4,055 and Rs.4,257 for 22 carat and 24 carat respectively.
- Lowest rate however is seen to be at Rs.3,842 for 22 carat and Rs.4,029 for 24 carat gold.
- There is a minimum of 5.54% and 5.66% change among the prices of January and February
December 2019, Gold Rate Movement in Orissa
|Gold Rates in Dec 2019||22 Ct Gold Rate||24 Ct Gold Rate|
|01-12-2019||₹ 3,767||₹ 3,951|
|08-12-2019||₹ 3,721||₹ 3,908|
|15-12-2019||₹ 3,704||₹ 3,888|
|22-12-2019||₹ 3,751||₹ 3,942|
|30-12-2019||₹ 3,845||₹ 4,033|
|Highest Rate in Dec||₹ 3,845||₹ 4,033|
|Lowest Rate in Dec||₹ 3,701||₹ 3,887|
When analysing fluctuations among different months for 22 and 24 carat gold rate in Orissa it is also necessary to take a sneak peak on last year’s trends as well. The below section is a summary of interpretation of December month’s data.
- The prices are lower in the beginning of the month and rise eventually until the end of the month.
- Highest recorded gold rate in December in Odisha is Rs.3,845 for 22 carat and Rs.4,033 for 24 carat.
- And the lowest recorded price is Rs.3,701 for 22 Carat gold and Rs.3,887 for 24 Carat.
- The overall change in the gold rate in Odisha per gram is approximately 3.89% for 22 carat and 3.76% for 24 carat gold.
Gold Rate in Odisha – Trend in 2020
Gold is dollar denominated therefore the gold rate trends in Odisha tend to change whenever there is any weakness in the dollar.
Lately, in the year 2020, the gold rate has seen tremendous amount of fluctuation because of the economic downfall caused by the pandemic.
In India, it is seen that the demand for gold rises during the time of festivals.
With major loss of income to people in many sectors and threat of the deadly virus, there is a slurp in the demand for gold which lead to demand stagnation.
Looking into 2020 in particular, the month of March and April shows a net 6% difference in gold rates. However, after that the prices are seen to be rising in India and in Odisha. Today gold rate in Odisha has stabilized and we expect to see a steady growth in the days to come.
Check out Gold Rates of more cities & states
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Gold Rate in Orissa – Trend in 2019
The year 2019 was stable for Gold rate Trend 2019 in Odisha, however there seemed to be fluctuations during March and April, when soon after it stabilized and increased considerably. Chaotic trade relation between US and China has been the prime reason for this fluctuations.
Many other factors also influenced the historical gold rate in Orissa in 2019. US dollar value is directly proportional to the gold rate in the market. A dip in US dollar will show either an increase or decline of gold rates.
What makes Gold Rates in Odisha to increase?
India as a country is known for using maximum gold in the form of jewellery and ornaments. Many sculptures of God and Goddesses are also carved from gold in order to mark respect, worth and purity.
The demand for gold during festivals is a sheer mark for good luck and an indirect form of investment. Apart from these, there are plenty other reasons which increases gold rate in Odisha as on today. Some of them are listed below:
- Gold price hike during festivities as the demand for gold increases.
- With an increase in interest rates, demand for gold to hedge against inflation increases.
- With the weakening of rupee against dollar, gold prices increases to a great extent.
- When value of other immovable assets decrease, the demand for gold increases which lead to hike in prices.
- Positive political relation with other countries also impact gold prices.
What makes Gold Price in Odisha to decrease?
Alongside an increase in gold prices there are also factors that impact the gold price in Odisha on a negative note. The major reasons for changes in Today Gold Price in Odisha per gram are:
- A decrease in demand for gold from the public
- Global pandemic leading to market downfall and slowing down the economy.
- Loss of jobs and inadequate income to household, making it not possible for people to keep aside money from their salaries for investment.
- A glitch in Indian and International trade leading to downfall of prices.
Why Central Bank Policies impacts Gold Rates in Odisha?
Gold reserves are held by central bank in form on security. The central banks decisions of either to maintain these gold reserves or release them in the market highly impact the prices of gold. The more the reserves with the central bank, the higher the gold prices in the market and vice versa.
Other investment options like mutual funds, bonds and more also affect the Gold rate in Odisha because investors often find it more profitable to invest in assets that will provide greater return during a longer period of time.
However, largely the gold rate in Odisha today remains strongly impacted by the policies laid down by the central bank.
Why Gold Price in Orissa is different from other Cities?
Gold price in Orissa is different from other cities as every city pays different amount of charges on transportation and hauling costs. Odisha government also has an amount of tax that buyers need to pay while purchasing gold.
The GST levied on gold remains 5%, however Gold Price in Odisha 916 factor in all additional costs within the per gram sale of gold.
What is Gold Rate in Odisha 916 Hallmark gold?
22 carat gold, also known as 916 Hallmark Gold, is not the purest form of gold but rather 22 parts of gold mixed with 2 parts of other alloy, usually used to make ornaments and sculptures.
Since it contains 91.67 percent of gold therefore it is termed as 916 hallmark gold. It also follows the norms to maintain all gold and purity standard. Hence, the Gold Rate in Odisha 916 is nothing but 22 carat Gold today.
Find out Gold Rates of more Indian Cities & States
|Gold Rate in Bhopal||Gold Rate in Gurugram||Gold Rate in Hosur||Gold Rate in Raipur|
|Gold Rate in Mangalore||Gold Rate in Ranchi||Gold Rate in Amritsar||Gold Rate in Kakinada|
|Gold Rate in Meerut||Gold Rate in Vijayawada||Gold Rate in Nellore||Gold Rate in Lucknow|
How much is the Tax Levied on Gold Rate in Odisha?
GST of 5% is levied on gold jewellery along with additional charges which differ from trader to trader. Making charges laid down by jeweller’s association is also factored in the gold rates.
However, tax on Gold rate in Odisha is already fixed by the government with mandatory GST since 2017.
Gold Rate in Odisha – Conclusion
Today gold Rate in Odisha is a result of all the above discussed points. This article gives a complete insight on gold rate in Odisha for both 22 and 24 carat.
It also discusses reasons for changes in prices and the trends of the past few months. We hope this article and our analysis gave you a better understanding on the gold rates in Odisha today.
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