Gold Prices in Balasore Rise Slightly on October 5 2026

As of October 5, 2026, the gold rates in Balasore have been updated, reflecting slight fluctuations in the market. The price for 24-carat gold stands at ₹15,375 per gram, while 22-carat gold is priced at ₹14,083 per gram. For 18-carat gold, the rate is ₹11,531 per gram. These prices are determined based on the purity of the gold, with 24-carat being 99.9% pure, 22-carat at 91.6% purity, and 18-carat at 75% purity.

The gold rate in Balasore is influenced by various factors, including international gold prices, the rupee-dollar exchange rate, import duties, and local demand. The price closely tracks the London Bullion Market Association (LBMA) price, which can be affected by global economic conditions and investor sentiment. Additionally, changes in import duties and GST can directly impact the cost of gold in the local market.

Local demand in Balasore, particularly during festivals and wedding seasons, also plays a significant role in determining gold prices. Cultural traditions and the demand for gold jewelry for special occasions can drive up prices. Inflation and global economic uncertainty often lead to increased investment in gold as a safe-haven asset, further influencing the market.

To ensure the purchase of genuine gold, buyers in Balasore are advised to look for BIS hallmarking, which includes the BIS logo, purity mark, jeweler’s ID, and a six-digit HUID. Verification can be done using the BIS Care app, which provides real-time information on the hallmarking details. Additional tests, such as the magnet test, density test, and ceramic scratch test, can also help in verifying the purity of gold.