- Check the latest 22K and 24K gold rate in Odisha before buying or selling gold.
- Gold prices in Odisha change regularly based on international gold prices, currency movements, import duties, taxes, and local demand.
- Gold value depends on purity and weight, with 24K gold generally priced higher than 22K gold.
- Gold rates can affect your gold loan eligibility, as the value of eligible gold is considered when determining the loan amount.
- Use the applicable gold rate, purity, and weight to estimate your gold value before applying for a gold loan.
- For a gold loan, only the intrinsic gold value is considered; stones, enamel, and other decorative elements are excluded from the valuation
Gold Price in Odisha Today
Key takeaways
How is the gold price calculated in Odisha
The gold price in Odisha is calculated through a series of steps, starting with the international gold price. Here's how the final gold rate is determined:
- International gold price: Gold is traded globally in US dollars per troy ounce, which serves as the base price.
- USD-INR exchange rate: The global price is converted into Indian rupees using the current exchange rate. A weaker rupee can increase the gold price in Odisha.
- Gold purity: The price is calculated per gram and adjusted based on purity. 24K gold is 99.9% pure, while 22K gold is 91.6% pure, so each has a different price.
- Import duty: Since India imports most of its gold, the applicable import duty is added to the price.
- GST: A 3% GST is charged on the value of gold, while 5% GST is applied to making charges.
- Making charges and jeweller's margin: The final price includes the cost of designing and crafting the jewellery, along with the jeweller's margin.
Most jewellers and lenders in Odisha use the IBJA daily benchmark as the reference for the base gold price. While the base rate remains broadly similar across the state, making charges and jeweller margins may vary from one seller to another.
For example, if the 24K gold price in Odisha is Rs. 6,300 per gram, the 1gm gold price in Odisha will be Rs. 6,300. Therefore, 5 grams will cost Rs. 31,500 and 10 grams will cost Rs. 63,000. The price of 22K gold will be slightly lower due to its lower purity. The final jewellery price may also include making charges and applicable taxes.
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Historical gold price in Odisha
Gold prices in Odisha have generally increased over the years, influenced by global market trends, inflation, interest rates, and local demand. Prices may rise during festivals and wedding seasons due to higher demand. Reviewing historical gold price trends can help buyers and investors make more informed purchasing and investment decisions.
| Year | 24-carat gold price per 10 grams |
|---|---|
| 2025 | Rs. 1,05,000 to Rs. 1,30,000 |
| 2024 | Rs. 77,000 |
| 2023 | Rs. 65,000 |
| 2022 | Rs. 52,000 |
| 2021 | Rs. 47,000 |
| 2020 | Rs. 48,000 |
| 2019 | Rs. 35,000 |
| 2018 | Rs. 31,000 |
| 2017 | Rs. 29,000 |
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Factors that affect the gold rate in Odisha
The gold rate in Odisha changes every day due to a combination of global and local factors. Understanding these can help you make informed decisions when buying gold or applying for a gold loan.
- International gold prices: Global gold prices have the biggest influence on the gold rate in Odisha. When international prices rise or fall, local gold rates usually move in the same direction.
- USD-INR exchange rate: Since India imports most of its gold, changes in the value of the Indian rupee against the US dollar directly affect local gold prices. A weaker rupee generally leads to higher gold rates.
- Import duty and GST: Government taxes, including import duty and GST, contribute to the final price of gold in Odisha.
- Local demand: Gold demand often increases during festivals, weddings, and other special occasions. Higher demand can lead to small changes in local gold prices.
- Inflation and economic conditions: During periods of inflation or economic uncertainty, many investors prefer gold as a safe investment, which can push prices higher.
- RBI policies and interest rates: Interest rate decisions by the Reserve Bank of India can influence gold demand. Lower interest rates may increase demand for gold, while higher rates may reduce it.
Keeping track of the gold rate in Odisha can help you decide the right time to buy gold or apply for a gold loan. You can also check your gold loan eligibility to estimate how much you may be able to borrow against your gold jewellery.
What is the difference between 18K, 22K, and 24K gold?
The karat number indicates how much pure gold a piece contains. A higher karat means higher gold purity, which also affects its price and use. While 18K gold is stronger for everyday jewellery, 22K gold is commonly used for traditional ornaments. 24K gold is the purest form and is mainly preferred for coins and bars purchased for investment.
| Parameter | 18K Gold | 22K Gold | 24K Gold |
|---|---|---|---|
| Purity | 75% | 91.6% | 99.9% |
| Strength | Highest | High | Lower |
| Common use | Designer jewellery | Traditional jewellery | Coins and bars |
| Price | Lowest | Higher | Highest |
Wondering how much you can borrow against your gold? Check your gold loan eligibility online in just a few simple steps.
Checking the purity of gold in Odisha
A few simple techniques can offer basic insights into checking the purity of gold, but for precise measurements, consulting a certified jeweller or professional gold assayer is recommended, especially when considering the gold rate in Odisha.
- Use a magnifying glass: Examine the gold for hallmarks or stamps indicating purity.
- Visual inspection: Look for discoloration or signs of tarnishing, which may suggest impurities.
- Magnetic test: Real gold is not magnetic, so using a magnet can help differentiate it from other metals.
- Nitric acid test: Conducted by professionals, this test involves using nitric acid to determine gold purity accurately.
Remember, while these methods provide basic insights, for accurate results, seek assistance from certified professionals, especially when considering the gold price in Odisha.
How can you calculate the value of your gold in Odisha?
You can estimate your gold's value using its weight, purity, and the gold price in Odisha.
- Check the weight of your gold in grams.
- Identify its purity, such as 18K, 22K, or 24K.
- Find the latest gold price in Odisha for the same purity.
Formula: Gold Value = Gold Weight × Gold Price per Gram.
Example: If you have 25 grams of 22K gold and the gold price in Odisha is Rs. 9,500 per gram, the estimated value of your gold is:
25 × ₹ 9,500 = ₹ 2,37,500
This is the approximate market value of your gold. The final gold loan amount depends on the applicable LTV ratio, gold purity, and the lender's valuation.
How do gold rates influence gold investments?
Gold rates can help you decide the right time to invest and choose an option that matches your financial goals. Physical gold offers direct ownership, while Gold ETFs provide a convenient digital investment. Sovereign Gold Bonds (SGBs) combine potential capital appreciation with interest income.
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How changes in gold rates influence gold loans in Odisha
The gold price in Odisha plays an important role in determining the amount you can borrow against your gold. When gold prices increase, the value of your pledged jewellery also rises, which may increase your eligible loan amount. Bajaj Finance considers the lower of the previous day's closing price or the 30-day average closing price published by IBJA or a SEBI-regulated commodity exchange to determine the loan amount.
How is gold loan eligibility calculated?
Your eligible loan amount depends on:
- Gold weight
- Gold purity
- Applicable gold price in Odisha on the day of assessment
- Loan-to-Value (LTV) ratio
Only the pure gold content is considered while evaluating your jewellery. Stones, enamel, and other decorative elements are not included in the valuation.
The final loan amount depends on the applicable LTV ratio, the actual purity of your gold, and the lower of either the previous day's closing price or the 30-day average closing price published by IBJA or a SEBI-regulated commodity exchange. The LTV ratio must be maintained throughout the loan tenure and may be revised as per RBI guidelines and lender policies.
The loan amount is determined using the applicable LTV ratio, which varies by loan size. To know more, click here.
Gold loan: what you should know before applying
With Bajaj Finance, you can borrow from Rs. 5,000 to Rs. 2 crore against your gold jewellery, ornaments, and gold coins. The gold loan interest rate starts from 9.50% per annum.
Jewellery and ornaments are accepted between 18K and 22K purity. Gold coins are accepted up to 24K purity. Your gold is stored in secure vaults with insurance cover for the entire loan duration.
A few things worth knowing before you apply:
- Your loan amount is based on the weight and purity of your gold, not what you originally paid for it
- Bajaj Finance uses the lower of the previous day's closing price or the 30-day average closing price published by IBJA or a SEBI-regulated commodity exchange
- Only one valid KYC document is required: Aadhaar card, Voter ID, passport, driving licence, NREGA job card, or letter from the NPR
- You can repay interest monthly, bi-monthly, quarterly, half-yearly, or annually, with the principal settled at the end of the tenure
- There are no foreclosure charges; you can close the loan early without any penalty
Before applying, use the gold loan calculator to estimate your eligible amount, or check your gold loan eligibility online to understand your borrowing capacity based on today's gold rate in Odisha, gold purity, and weight.
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Know more about gold rates in Indian states and Union Territories
Know more about gold rates in other cities
| Gold Rate in Dhar | Gold Rate in Purulia | Gold Rate in Thiruvarur |
| Gold Rate in Damoh | Gold Rate in Mandla | Gold Rate in Gudur |
| Gold Rate in Veraval | Gold Rate in Mandi | Gold Rate in Darjeeling |
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Frequently asked questions
Gold Price
Gold Purity
What decides the price of gold in Odisha?
The price of gold in Odisha is influenced by several factors such as global market trends, local demand, economic conditions, and currency fluctuations. These elements impact the supply and demand dynamics, ultimately shaping the price of gold in the region.
What is the price of 1 gram of 22 karat gold in Odisha today?
The price of 1 gram of 22 carat gold in Odisha experiences fluctuations based on market trends and local demand. For the latest gold price updates in Odisha, you can visit our gold rate page or utilize our gold rate calculator for real-time updates on gold prices.
What is the rate of 24 carat gold in Odisha?
The price of gold in Odisha today fluctuates due to factors like global market trends, local demand, and economic conditions. To stay updated on the latest rates, it is essential to check reliable sources such as the Bajaj Finance App or website. If you are planning to buy or invest in gold, keeping track of the today gold rate in India can help you make informed decisions. Since gold prices change frequently, staying updated ensures you get the best value whether purchasing jewellery or investing in gold assets.
How has the gold price changed recently in Odisha?
Gold prices in Odisha have seen regular fluctuations in recent weeks due to changes in international gold prices, the USD-INR exchange rate, and market demand. While prices have moved up and down in the short term, they continue to reflect broader trends in the Indian and global gold markets.
How to check the purity of gold in Odisha?
To verify gold purity in Odisha, examine for hallmark stamps indicating purity, perform visual inspections for discoloration, and consider conducting a magnetic or nitric acid test for authenticity.
Which gold is better to buy in Odisha – 22k or 24k?
The decision between 22k and 24k gold in Odisha relies on individual preferences and intended usage. While 24k gold is purer but softer, 22k gold offers more durability due to its alloy content. It's essential to consider factors such as budget, style preference, and durability when making your choice.
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