Today's Gold Rate in Lucknow- 22 & 24 Carat Gold Price 28 Nov 2024

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Gold Rate Per Gram in Lucknow

Gold is as essential a part of festivities and celebrations in India as it is for investment. So, if you are considering purchasing gold in Lucknow or investing in it, it is pertinent to be aware of the gold rate in Lucknow.

The gold price in Lucknow fluctuates on a daily basis. Check out the current gold price in Lucknow below.

Gram	22 Carat Gold Rate Today	22 Carat Gold Rate Yesterday	Daily Price Change
1 Gram	₹7,190	₹7,205	₹-15
10 Gram	₹71,900	₹72,050	₹-150
100 Gram	₹719,000	₹720,500	₹-1500

22 & 24 Carat Gold Rate in Lucknow for the Last 5 Days

There are many different ways to buy gold in Lucknow. Many people in the city purchase yellow metal, either as gold coins, gold jewellery, or gold bars. You can choose to do any of these.

You could also invest and trade in the yellow metal as a commodity on exchanges that facilitate this, like:

National Commodity and Derivatives Exchange (NCDEX)
Multi Commodity Exchange (MCX)

Whichever option you choose, you need to be aware of the gold price today in Lucknow. The gold rate in Lucknow, with fluctuations in the last few days, is shown below:

Date	STANDARD GOLD 22K		STANDARD GOLD 24K
	1 Gram	10 Gram	1 Gram	10 Gram
	November 28, 2024	₹7,190	₹71,900	₹7,550	₹75,500
	November 27, 2024	₹7,205	₹72,050	₹7,565	₹75,650
	November 26, 2024	₹7,300	₹73,000	₹7,665	₹76,650
	November 25, 2024	₹7,300	₹73,000	₹7,665	₹76,650
	November 24, 2024	₹7,145	₹71,450	₹7,502	₹75,020

18 Carat Gold Rate in Lucknow for the Last 5 Days

Gold price in Lucknow with fluctuations in the last few days, is shown below:

Date	STANDARD GOLD 18K
	1 Gram	10 Gram
	November 28, 2024	₹5,883	₹58,830
	November 27, 2024	₹5,895	₹ 58,950
	November 26, 2024	₹5,973	₹59,730
	November 25, 2024	₹5,973	₹59,730
	November 24, 2024	₹5,846	₹58,460

Gold Rate Calculator

You can check the 24k and 22k gold rate in Lucknow using the Gold Rate Calculator. Select the city to Lucknow, choose the purity (24-carat or 22-carat), put in the weightage and then hit the calculate button. This would provide you with the gold rate today in Lucknow.

Gold Investment in Lucknow

People mostly buy gold in the form of jewellery in Lucknow. However, it is not the only form in which gold is purchased. This metal is also a popular investment option in the city. You can trade the metal or hold it as a long-term investment.

You can also trade in the commodity through the derivative market. For example, gold futures and options help you take advantage of the changes in the gold price in Lucknow.

Another investment option is gold mutual funds. These are MFs that directly invest in this precious metal. This option allows you to invest in gold without physically owning the commodity.

Whichever option you choose, you need to be aware of the gold prices today in Lucknow for both these options.

Points to Remember When Buying Gold in Lucknow

Before you go ahead and buy gold in Lucknow, here are some important points to keep in mind.

The first thing you need to do is check the gold price today in Lucknow. This can give you a better idea of when to buy this precious metal. The cost is available per gram, 8 grams, 10 grams or kilogram.
You also need to find out the purity of this precious metal. you can readily find this information on the bar, coin, or jewellery you plan to buy, making things much easier.

Before buying gold, ensure it carries a genuine BIS hallmark certification. Whether you are buying gold to use as jewellery or coins, or a bar for investment, it is advisable to buy certified gold.

Factors that Affect Gold Prices in Lucknow

There are certain factors because of which the gold price in Lucknow shoots up or goes down. Here are some of them.

As the demand for gold increases, the prices increase. And when the supply increases, the prices fall. So, changing demand and supply forces cause price fluctuations.
Inflation affects the prices of all goods and services. And gold is not immune to this. Increasing inflation decreases the currency's value and forces people to hold their money in gold. This affects gold's demand and its price.
The government of India has its gold reserves. So do other governments. Central banks are responsible for procuring gold for these reserves, and the price goes up when they buy more gold.
Rising interest rates encourage people to sell off their gold and hold money as cash, and vice versa. This changes the demand and supply and thereby affects gold prices in Lucknow.

Other factors like import duties, geopolitical factors and the Indian jewellery market also impact the price of this yellow metal.

How is the Purity of Gold Evaluated in Lucknow?

Gold price in Lucknow is an essential factor to look at when you are planning to purchase this metal. However, the purity of gold is as important to check before buying it.

The government body responsible for determining the purity of gold is the Bureau of Indian Standards (BIS). You may have come across the phrase 'BIS hallmark' in advertisements for the yellow metal. Hallmarking is nothing but the process of certifying the purity of gold.

There are different ways to measure the purity of gold. However, here are some standard techniques people use to check their gold's purity.

A small scratch is made on the yellow metal for the acid test, and liquid nitric acid is placed on that area. As a result, the area turns green in fake gold and becomes milky in the case of gold-plated sterling silver. It remains unaffected if it is real gold.
Gold is not a magnetic substance, so magnets do not attract it. So, you can use a strong magnet to verify the purity of gold. The magnet will attract fake gold while real gold remains unaffected.
Today, most gold items come with a gold jewellery stamp on them. This stamp contains the details of the karat of that gold item, which symbolises its purity. When you buy gold, you can look for this stamp to check the purity of the metal.

There are also carat testing machines or purity testing machines that help determine the purity of the yellow metal. You can visit a jeweller in Lucknow to find out how pure the gold you have is using this machine.

GST Impact on Gold Rate in Lucknow

The Goods and Services Tax (GST) was introduced in India in 2017. The GST on gold jewellery is 3%. And the GST on the making charges is 5%. This will have an effect on the gold price in Lucknow. This tax has resulted in a marginal increase in the price of gold.

Additionally, the import duty on gold also impacts gold prices. Currently, the import duty on gold bars is 12.5%. This, in addition to GST, influences the price of the yellow metal in Lucknow.

So, keep this factor in mind before you buy gold, along with the others discussed in the previous section.

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How is the price of gold determined in Lucknow?

The gold rate in Lucknow is determined by many factors, as noted above. These include inflation, government policies, interest rates and the demand and supply of this metal.

In addition, geopolitical situations can also affect the gold price in Lucknow. For instance, the exchange rate of the Indian Rupee for the US Dollar, crude oil prices, and political situations.

Why is the price of gold in Lucknow different from the price of gold in other cities?

As mentioned above, the price of gold depends on the demand and supply factors. So, the gold price in Lucknow may differ from other cities, as demand here can be higher or lower than in those cities.

What is the difference between 22-carat and 24-carat gold in Lucknow?

24-carat gold differs from 22-carat gold in the level of purity. While the former is 99.9% pure gold, the latter is 92% with some amount of other metals mixed with it. On the other hand, there is no mixture in 24-carat gold.