Gold Rate Today in Bhubaneswar - Live Price of 22K & 24K Gold Rate Today

Gold remains a popular investment in Bhubaneswar, with prices updated daily due to local demand, tax regulations, and global market trends. Below are today’s latest gold rates in Bhubaneswar for both 22K (916 purity) and 24K (999 purity) gold.

Gold Rate Today in Bhubaneswar

22K and 24L Gold Rate in Bhubaneswar Today by Weight

Gold Price Trend in Bhubaneswar

Gold rates in Bhubaneswar move in line with daily changes in global economic indicators and central bank decisions, while the USD-INR exchange rate plays a key role in determining the cost of imported gold. Prices for both 22K (jewellery) and 24K (pure) gold generally rise during periods of strong local demand, especially around major festivals and the wedding season in the region.

How Gold Prices Are Determined in Bhubaneswar

Gold rates in Bhubaneswar, like the rest of India, change daily due to multiple factors, including:

• International spot market prices:
  Gold is traded globally, so global price movements directly affect local rates in Bhubaneswar.

• Rupee-Dollar exchange rate:
  Since gold is priced in USD internationally, a stronger or weaker rupee impacts Bhubaneswar’s gold prices.

• Import duty and GST:
  Government taxes on gold imports and sales influence the final price for consumers in Bhubaneswar.

• Local supply and consumer demand:
  Seasonal demand during festivals, weddings, and other special occasions in Bhubaneswar can lead to price fluctuations.

• Market speculation and investor sentiment:
  Investment trends, stock market movements, and speculative buying and selling can push Bhubaneswar’s gold prices up or down.

• Central Bank Policies:
  Decisions by the Reserve Bank of India or other central banks on interest rates and foreign reserves can indirectly affect Bhubaneswar’s gold prices.

How to Calculate the Final Gold Price

Formula:
Final Price = Gold Rate × Weight + Making Charges + GST

Example (based on your numbers):
For 10 grams of 22K gold at Rs. 11,716 per gram:

Gold Value = Rs.1,17,160
Making Charges (12%) = Rs.14,059
Subtotal = Rs.1,31,219
GST (3%) = Rs.3,936

Best Time to Buy Gold in Bhubaneswar

• Prices in Bhubaneswar tend to remain more stable from March to August.

• Buying before major festivals in Bhubaneswar may help avoid festive premiums.

• Watch for dips in global gold prices, as they can influence Bhubaneswar’s rates.

• Track local daily gold rates in Bhubaneswar for at least a week before making a purchase.

Gold Buying Options

• Physical Jewellery: Traditional gold buying option mainly used for weddings, gifting, and personal use.

• Gold Coins and Bars (24K): High-purity gold with lower making charges and better resale value.

• Digital Gold: Easily bought online in small amounts with zero storage or security concerns.

• Sovereign Gold Bonds (SGBs): Government-backed gold investment offering 2.5% annual interest plus tax benefits.

• Gold ETFs: Exchange-traded instruments that track gold prices and are backed by physical gold.

• Gold Mutual Funds: Mutual funds that invest in gold ETFs, offering convenience and diversification.

Also Read: Best Gold Saving Scheme by Jewellers in India

Tips for Smart Gold Buying

• Compare making charges across jewellers.

• Always choose BIS hallmarked jewellery with HUID.

• Avoid impulse purchases.

• Prefer simpler designs if buying for investment.

• Keep all invoices for resale and loan purposes.

Selling or Exchanging Gold

• Jewellers buy back based on the day’s gold rate.

• Charges and wastage are not refunded.

• Purity testing may involve melting or electronic checks.

• Compare buyback quotes from multiple jewellers.

Tax Rules on Gold Purchases

• GST of 3% applies to the gold value.

• Making charges may attract additional GST.

• Purchases above Rs. 2 lakh require a PAN.

• Selling gold may be subject to capital gains tax.

• Digital gold, SGBs, and ETFs follow different tax rules.

FAQs:

What factors influence today’s gold price in Bhubaneswar?
Prices are driven by global market trends, the USD-INR exchange rate, and local supply-demand shifts managed by the Odisha Jewellers' Association. Regional factors like transportation costs from ports and seasonal wedding demand in the city also play a key role.

Is GST included in the gold rate shown today in Bhubaneswar?
No, the listed rates are base prices; a 3% GST is added to the value of the gold at the time of purchase. For jewelry, an additional 5% GST is applied to the making charges.

Do gold prices in Bhubaneswar vary compared to other Indian cities?
Yes, prices differ due to varying state taxes, transportation costs, and local jewelry association mandates. Bhubaneswar’s distance from major bullion hubs like Mumbai can lead to slight price premiums.

Do gold rates in Bhubaneswar increase during festivals or wedding seasons?
Yes, prices typically rise during festivals like Dhanteras and the winter wedding season due to a massive surge in local demand. Retailers may also adjust their making charges and offers based on these high-traffic periods.

How often do gold prices change in Bhubaneswar?
Gold rates usually change twice daily to align with international market opening and closing times. However, prices can fluctuate more frequently if there is significant global economic volatility.