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Gold Price Today: 22-Carat and 24-Carat Gold Rate

Gold Price Today: 22-Carat and 24-Carat Gold Rate
by 5paisa Research Team 02/12/2021

Gold has been a valuable asset class from times immemorial. In India, gold has been one of the most preferred asset classes, with Indian households owning more than $1.30 trillion just in the form of domestic gold.

Types of Gold – Classified by Purity

One of the most popular classifications of gold is based on carats. Incidentally, carat measures the purity of gold and higher the carat value, higher is the purity of gold. Broadly, gold has 5 popular classifications based on purity, which is captured as under.
 

Particulars

24-Carat

22-Carat

18-Carat

14-Carat

10-Carat

Gold Purity

99.95%

91.67%

75.00%

58.33%

41.67%


Higher the purity, more malleable and softer will be the gold. Hence 24-carat gold is rarely used for jewellery as daily wear and tear will make it lose shape. The most popular for gold jewellery is 22-carat gold which has 91.67% purity. However, even 22-carat gold cannot hold diamonds and studded gems. Hence for jewellery with studded stones or diamonds, normally lower purity gold of 18-carat or 14-carat is used. Lower carat gold consists of a mix of gold with silver, nickel and zinc.

 

Trends in gold prices and gold rates

The most popular gold rate today for trading and futures purposes is normally the 24-carat gold with higher purity. Hence, when we talk of gold price today in the case of financial markets it refers to 24-carat gold. Similarly, when we talk of gold rate today for gold jewellery, it refers to 22-carat gold, which is normally not traded in financial markets.
 

Gold Price Today Vs Gold Price Yesterday
 

Date

Gold Purity

Gold Price (1 gm)

Gold Purity

Gold Price (1 gm)

Dec-02-21

22-Carat Gold

₹ 4,712

24-Carat Gold

₹ 4,812

Dec-01-21

22-Carat Gold

₹ 4,711

24-Carat Gold

₹ 4,811

Change (Rs.)

22-Carat Gold

₹ 1.00

24-Carat Gold

₹ 1.00

Change (%)

22-Carat Gold

0.02%

24-Carat Gold

0.02%

 

In gold, the opening price becomes the benchmark price. The gold price today for 24-carat gold and the gold rate today for 22-carat gold are indicative rates that are not inclusive of GST, applicable tax collection at source, making charges and other levies.

 

10 Days Historical Gold Prices

To get a trend perspective of gold prices, let us look at the gold prices over the last one week and the daily trend of gold prices of 22-carat gold and 24-carat gold on a sequential basis.
 

Date Gold Price (22 Carat) Gold Price (24 Carat) Sequential Trend
02-Dec-21 Rs.4,712 per gram Rs.4,812 per gram Up
01-Dec-21 Rs.4,711 per gram Rs.4,811 per gram Down
30-Nov-21 Rs.4,731 per gram Rs.4,831 per gram Down
29-Nov-21 Rs.4,732 per gram Rs.4,832 per gram Same
28-Nov-21 Rs.4,732 per gram Rs.4,832 per gram Same
27-Nov-21 Rs.4,732 per gram Rs.4,832 per gram Up
26-Nov-21 Rs.4,663 per gram Rs.4,763 per gram Up
25-Nov-21 Rs.4,662 per gram Rs.4,762 per gram Down
24-Nov-21 Rs.4,698 per gram Rs.4,798 per gram Down
23-Nov-21 Rs.4,820 per gram Rs.4,920 per gram -

 

Frequently asked questions (FAQ) on Gold Rates


1.  What factors affect the gold rate? 

A number of factor go into the pricing of gold Jewellery demand is one factor, but the most important factor is economic or geopolitical uncertainty. This leads to a spike in the price of gold as it is seen as a safe haven asset. Gold is inversely related to dollar and equities.

 

2.  Is gold rate today and silver rate the same?

Gold is more of a precious metal which is a safe haven asset class. Silver, is more of a commodity with extensive industrial application. However, an important factor in gold and silver pricing globally is the gold/silver ratio.

 

3.  What causes gold rate to drop?

Normally, gold rates fall when the dollar strengthens or when equities are robust. Similarly, when there is news of an increase in GDP, then gold prices drop. Gold prices can also drop if the ETF demand for gold goes down.

 

4.  Why does gold rate increase? 

The most common reason for an increase in gold rate is the rise in economic and geopolitical uncertainty. If you look at the past, gold rates have risen in times of the global financial crisis, during the COVID pandemic, during the Iran embargo etc.

 

5.  Which cities get affected by gold rate fluctuation? 

While gold is most actively traded in the Mumbai markets in terms of spot bullion and in terms of gold futures, the biggest demand for gold comes from Kerala state. This is the state that consumers maximum gold overall and obviously also on a per capita basis.

 

6.  Is it a good time to buy gold?

There is normally, not good time to buy gold. Investors must ideally look at gold allocation in the range of 10-15% of their overall asset allocation. This excludes your jewellery holdings. The holding can tweaked in the range based on gold prices.

 

7.  Is it good to invest in digital gold?

Digital gold is convenient in that it is held in electronic mode. Also, digital gold is backed by equivalent physical gold that is ring-fenced in a vault owned by a nodal government organization like MMTC. It is a new asset class, though brokers have been asked to desist from selling digital gold by SEBI.

 

8.  What is digital gold? 

Digital gold is held in electronic mode. Digital gold is backed by equivalent physical gold that is ring-fenced in a vault owned by a nodal government organization like MMTC. It is a new asset class and the big advantage is that you can buy and sell small fractions of gold.

 

9.  How does digital gold work?

Digital gold are electronic gold holdings created against physical gold. Such gold is certified by a globally reputed agency and backed by ring-fenced gold. Investors even fractional grams of gold and platforms like Paytm, Phone Pe and GPAY are popular platforms for digital gold.
 

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Bharti Airtel to Buy Stakes in Dish TV

Bharti Airtel to Buy Stakes in Dish TV
by 5paisa Research Team 02/12/2021

Close to 2 years after the proposed deal between Airtel and Dish TV fell through over valuation differences, the deal appears to be back in the reckoning. As per market reports, Bharti Airtel is in early talks to acquire a majority stake in Dish TV.

If the deal goes through and Airtel gets a controlling stake, it will give the combination more than 50% of India’s satellite television pie and beat Tata Sky in the market share game, which has cornered 33% of the DTH market.

It has been reported that top officials of Bharti Airtel have had detailed deliberations with Subhash Chandra of the Essel group and more details are expected to emerge in the coming days. Currently, EY has completed the due diligence of Dish TV financials on behalf of Bharti Airtel and submitted the report more than a month ago. 

Apparently, the offer made by Bharti Airtel is in the vicinity of Rs.20 per share, which is 16% above the CMP. This is to buy out the 5.93% stake in Dish TV owned by the Subhash Chandra Group.

It may be recollected that Dish TV is currently fighting a pitched battle for control with Yes Bank, which owns 25.63% stake in Dish TV due to confiscation of pledged shares of Dish. Eventually, Yes Bank’s buy-in will be critical to this deal.

Bharti, on its part, has decided not to make a hostile bid for Dish TV but has agreed to buy out the 25.63% of Dish TV owned by Yes Bank, once the promoters accept their offer. They will also make an open offer to public shareholders, as per extant SEBI regulations, with the intent of taking their stake in Dish TV to above 51%.

Yes Bank has been pressuring Dish TV to remove Jawahar Goel from the helm of Dish TV. Jawahar is the younger brother of Subhash Chandra. However, it is not clear whether Bharti would be coming as a White Knight in this case. In a similar case, when Zee had problems with its largest shareholder Invesco, Sony Pictures had agreed to merge with Zee.

Check - What does the Zee merger with Sony mean?

For Bharti, this is a game of leadership in the satellite television space. The Airtel DTH business reported 5% higher revenues of Rs.3,056 crore for FY21, while Dish TV revenues were slightly higher at Rs.3,249 crore. However, Airtel DTH had a higher EBITDA compared to Dish TV.

The deal would be a blessing in disguise for Airtel as it would get a dominant market share of 50% in the DTH space, compared to just 33% for Tata Sky. At the price of Rs.20 per share, the offer is at 1.50 times EV/EBITDA.

This is much lower than the peer group average for similar deals. Eventually, the success of the deal would predicate on Chandra accepting the offer and Yes Bank buying into the deal and monetizing its stake.

Also Read:-

Bharti Airtel Hikes Tariff for Data Top-up Plans

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Anand Rathi Wealth IPO - Subscription Day 1

Anand Rathi Wealth IPO - Subscription Day 1
by 5paisa Research Team 02/12/2021

The Rs.660 crore IPO of Anand Rathi Wealth, consisting entirely of an offer for sale (OFS) of Rs.660 crore, saw decent response on Day-1 of the IPO. As per the combined bid details put out by the BSE at the close of Day-1, Anand Rathi Wealth IPO was subscribed 1.60X overall, with strong demand coming from the retail segment and the HNI segment with hardly any action seen in the QIB counters. The issue closes for subscription on 06th December.

As of close of 02nd December, out of the 84.75 lakh shares on offer in the IPO, Anand Rathi Wealth saw bids for 136.01 lakh shares. This implies an overall subscription of 1.60X. The granular break-up of subscriptions was dominated by the retail investors followed by the HNIs.

The QIB response was almost absent. However, the QIB bids and NII bids are expected to gather momentum on the last day, as is the general trend in the IPO market.
 

Anand Rathi Wealth IPO Subscription Day-1

 

Category

Subscription Status

Qualified Institutional Buyers (QIB)

0.01 Times

Non Institutional Investors (NII)

1.93 Times

Retail Individuals

2.45 Times

Employees

0.42 Times

Overall

1.60 times

 

QIB Portion

Let us first talk about the pre-IPO anchor placement. On 01st December, Anand Rathi Wealth did an anchor placement of 35,25,000 shares at the upper end of the price band of Rs.550 to 25 anchor investors raising Rs.193.88 crore, representing 29.38% of the total issue size.

The list of QIB investors included a number of marquee domestic anchor investors like SBI Mutual Fund, ICICI Pru MF, DSP Mutual Fund, Kotak Mutual Fund, Nippon India MF, Quant Fund, Canara Robeco Mutual Fund, Invesco India Fund, Abakkus Growth Fund, Cohesion India, Rajasthan Global Securities etc.


Check - Anand Rathi Wealth IPO - Information Note


The QIB portion (net of anchor allocation as explained above) has a quota of 23.50 lakh shares of which it has got bids for just about 0.18 lakh shares on Day-1, implying 0.01X subscription for QIBs at the close of Day-1. QIB bids typically get bunched on the last day but the robust demand for the anchor placement forebodes well for the Anand Rathi Wealth IPO subscription overall.

HNI / NII Portion

The HNI portion got subscribed 1.93X (getting applications for 34.09 lakh shares against the quota of 17.63 lakh shares). This is a relatively good response on Day-1 but of course this segment normally sees the maximum response bunched on the last day. Bulk of the funded applications and corporate applications, come in on the last day of the IPO.
 
Retail Individuals

The retail portion was subscribed a healthier 2.45X at the end of Day-1, showing strong retail appetite; as has been the general trend with smaller sized IPOs. It must be noted that retail allocation is 35% in this IPO.

For retail investors; out of the 41.13 lakh shares on offer, valid bids were received for 100.69 lakh shares, which included bids for 75.62 lakh shares at the cut-off price. The IPO is priced in the band of (Rs.530-Rs.550) and will close for subscription on 06th December 2021.

Also Read:-

Upcoming IPOs in 2021

Upcoming IPOs in December 2021

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Tega Industries IPO - Subscription Day 2

Tega Industries IPO - Subscription Day 2
by 5paisa Research Team 02/12/2021

The Rs.619.23 crore IPO of Tega Industries, consisting entirely of an offer for sale (OFS) of Rs.619.23 crore, saw robust response and got oversubscribed on Day-1 of the IPO itself. As per the combined bid details put out by the BSE at the close of Day-2, Tega Industries IPO was subscribed 13.87X overall, with strong demand coming from the HNI/NII and the retail segment followed by the QIB segment. The issue closes for subscription on 03rd December.

As of close of 02nd December, out of the 95.69 lakh shares on offer in the IPO, Tega Industries saw bids for 1,326.79 lakh shares. This implies an overall subscription of 13.87X. The granular break-up of subscriptions was dominated by the HNIs / NIIs followed by the retail investors.

The QIB response was also quite strong considering that there is still one day left. However, the QIB bids and NII bids are expected to gather momentum on the last day, as is the general trend in the IPO market.
 

Tega Industries IPO Subscription Day-2

 

Category

Subscription Status

Qualified Institutional Buyers (QIB)

3.35 Times

Non Institutional Investors (NII)

20.48 Times

Retail Individuals

17.04 Times

Employees

N.A.

Overall

13.87 times

 

QIB Portion

Let us first talk about the pre-IPO anchor placement. On 30th November, Tega Industries did an anchor placement of 41,00,842 shares at the upper end of the price band of Rs.453 to 25 anchor investors raising Rs.185.77 crore.

The list of QIB investors included a number of marquee global names like Goldman Sachs India Portfolio, Ashoka India Fund, Kuber India Fund, Elara India Opportunities Fund and BNP Paribas Arbitrage Fund. Domestic anchor investors included SBI Mutual Fund, Birla MF, HDFC MF, Mirae MF, Axis MF and Tata MF.

Check - Tega Industries IPO - Subscription Day 1

The QIB portion (net of anchor allocation as explained above) has a quota of 27.34 lakh shares of which it has got bids for a total of 91.51 lakh shares as of the end of Day-2, implying 3.35X subscription for QIBs at the close of Day-2. QIB bids typically get bunched on the last day but the robust demand for the anchor placement forebodes well for the Tega Industries IPO subscription overall.

HNI / NII Portion

The HNI portion got subscribed a healthy 20.48X (getting applications for 419.87 lakh shares against the quota of 20.50 lakh shares). This is a relatively solid response at the close of Day-2 but of course this segment normally sees the maximum response bunched on the last day. Bulk of the funded applications and corporate applications, come in on the last day of the IPO, so the picture should only get better by close on Friday.

Retail Individuals

The retail portion was subscribed a healthy 17.04X at the end of Day-2, showing strong retail appetite; as has been the general trend with smaller sized IPOs. It must be noted that retail allocation is 35% in this IPO. For retail investors; out of the 47.84 lakh shares on offer, valid bids were received for 815.41 lakh shares, which included bids for 623.53 lakh shares at the cut-off price.

The IPO is priced in the band of (Rs.443-Rs.453) and will close for subscription on 03rd December 2021.

Also Read:-

Upcoming IPOs in 2021

Upcoming IPOs in December 2021

Tega Industries Ltd IPO - Information Note

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Star Health & Allied Insurance IPO - Subscription Day 3

Star Health & Allied Insurance IPO - Subscription Day 3
by 5paisa Research Team 02/12/2021

The Rs.7,249 crore IPO of Star Health & Allied Insurance, consisting of a fresh issue of Rs.2,000 crore and an offer for sale (OFS) of Rs.5,249 crore, saw tepid response on Day-1 and Day-2 of the IPO. As per the combined bid details put out by the BSE at the close of Day-3, Star Health & Allied Insurance IPO was subscribed 0.79X overall, with the retail and QIB portion just about getting subscribed while the HNI / NII portion remained grossly undersubscribed. The issue has closed for subscription on 02nd December.

As of close of 02nd December, out of the 449.09 lakh shares on offer in the IPO, Star Health saw bids for 355.85 lakh shares. This implies an overall subscription of 0.79X.

The granular break-up of subscriptions was dominated by the retail investors and the QIB portion, which just about got subscribed. However, the interest was virtually lacking in the HNI segment and that remained unfilled.
 

Star Health & Allied Insurance IPO Subscription Day-3
 

Category

Subscription Status

Qualified Institutional Buyers (QIB)

1.03 Times

Non Institutional Investors (NII)

0.19 Times

Retail Individuals

1.10 Times

Employees

0.10 Times

Overall

0.79 times

 

QIB Portion

Let us first talk about the pre-IPO anchor placement. On 29th November, Star Health & Allied Insurance did an anchor placement of 3,57,45,901 shares at the upper end of the price band of Rs.900 to 62 anchor investors raising Rs.3,217.13 crore.

Check - Star Health IPO - Subscription Day 2

The list of QIB investors included a number of marquee global names like Government of Singapore, Monetary Authority of Singapore, Ballie Gifford, BNP Paribas, Goldman Sachs, Janchor Partners, Universities Superannuation Fund and Abu Dhabi Investment Authority (ADIA). Domestic anchor investors included HDFC Life, Max Life, Bharat AXA Life, IIFL Opportunities Fund, Mirae MF and Edelweiss Mutual Fund; among others.

The QIB portion (net of anchor allocation as explained above) has a quota of 238.31 lakh shares of which it has got bids for 244.93 lakh shares at the close of Day-3, implying subscription of just about 1.03X for QIBs at close. QIB bids typically get bunched on the last day but even that heavy demand was just about sufficient to see the issue thorough once, despite the strong appetite shown in the anchor round.

HNI / NII Portion

The HNI portion got subscribed 0.19X (getting applications for 22.76 lakh shares against the quota of 119.15 lakh shares). This is a very tepid response at the close of Day-3 and even on the last day there was no flurry of activity by the HNIs. Even the funded applications were absent as the cost of funds would have struggled to cover if the listing was weak.

Retail Individuals

The retail portion was subscribed a more decent 1.10X at the close of Day-3, showing reasonable retail appetite. It must be noted that retail allocation is only 10% in this IPO.

For retail investors; out of the 79.44 lakh shares on offer, valid bids were received for 87.00 lakh shares, which included bids for 68.59 lakh shares at the cut-off price. The IPO is priced in the band of (Rs.443-Rs.453) and has closed for subscription on 02nd December 2021.

Also Read:-

Upcoming IPOs in 2021

Upcoming IPOs in December 2021

Star Health and Allied Insurance IPO - Information Note

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Raymond Subsidiary JKFEL to File for Rs.800 crore IPO

Raymond Subsidiary JKFEL to File for Rs.800 crore IPO
by 5paisa Research Team 02/12/2021

Raymond Ltd, the group that straddles textiles, retail and realty, has approved the listing of its subsidiary JK Files and Engineering Ltd (JKEFL). Accordingly, the subsidiary of Raymond will be listed through an offer for sale, which his expected to be worth Rs.800 crore. JK Files and Engineering Ltd (JKEFL) is into the manufacture of automobile parts and ancillaries.

The proposed offer for sale will be worth Rs.800 crore and there will be no fresh funds coming into JK Files and Engineering Ltd (JKEFL). The funds would accrue directly to Raymond Ltd for diluting its stake in the subsidiary. Raymond is in the midst of a major deleveraging exercise and the infusion of funds from this IPO will help give a push to its deleveraging plans.

As a result of the stake sale through the OFS route, the stake held by Raymond Ltd in JK Files and Engineering Ltd (JKEFL) will reduce proportionately as the public shareholding will increase. However, Raymond has clarified that the auto parts business would continue to be a significant subsidiary of Raymond, which means at any point the parent plans to hold well above 51% stake in the auto parts unit.

The chairman of the Raymond group, Gautam Hari Singhania, had already mentioned that the group would look to monetize some of its assets and holdings to deleverage the group.

The stake sale would also be used to arrive at a valuation of the auto business so that the company can look to induct a major strategic partner at a future deal. This would be the base for such long term plans.

While the Board of Raymond has already approved this sale of stake, other regulatory approvals and the approval of shareholders is still pending. Raymond stock has rallied sharply in the last few days and had rallied more than 33% in a short span of time.

The stock has normally been a slow performer in the market and only moves in spurts. The restructuring plan appears to have a struck a chord with the investors.

Also Read:-

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Upcoming IPOs in December 2021

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