Gold Rate Today in Varanasi - Price of 22K & 24K Gold Rate Today

Gold continues to be a favored investment choice in Varanasi, with rates changing daily based on local demand, tax policies, and international market movements. Listed below are today’s current gold prices in Varanasi for 22K (916 purity) and 24K (999 purity) gold.

Gold Rate Today in Varanasi

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

Gold Price Trend in Varanasi

Gold rates in Varanasi 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 Varanasi

Gold rates in Varanasi, 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 Varanasi.

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

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

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

• Market speculation and investor sentiment:
  Investment trends, stock market movements, and speculative buying and selling can push Varanasi’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 Varanasi’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 Varanasi

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

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

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

• Track local daily gold rates in Varanasi 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:

How frequently are gold rates updated in Varanasi?
Gold prices in Varanasi are generally revised twice a day in line with global market open and close timings. In periods of major international economic activity, rates may change more often.

Do gold prices in Varanasi rise during festive or wedding seasons?
Yes, gold rates often see an upward trend during festivals such as Dhanteras and peak wedding months, driven by a sharp increase in local buying. Jewellers may also revise making charges or promotional offers during these times.

Is GST already included in today’s gold price in Varanasi?
No, the displayed gold rates are exclusive of GST. A 3% GST is added to the gold value at purchase, and for jewellery, an extra 5% GST applies to the making charges.

Why do gold prices in Varanasi differ from other cities in India?
Gold rates can vary across cities due to differences in state-level taxes, transport expenses, and guidelines set by local jewellers’ associations. Varanasi’s distance from major bullion centers may also result in minor price variations.

What factors affect the current gold price in Varanasi?
Today’s gold rates are influenced by international market movements, fluctuations in the USD–INR exchange rate, and local demand-supply dynamics overseen by the Odisha Jewellers’ Association. Additional factors such as port transportation costs and seasonal demand, especially during weddings, also impact prices.