Jamshedpur, a completely industrial city, is rich in minerals such as iron ore, coal, manganese bauxite and lime. In fact, the Geological Survey of India is looking for gold, platinum and other rare earth mineral deposits in the Singhbhum region that includes Jamshedpur. The major industries in the city are iron and steel, cement, tinplate manufacturing, truck production, and other related works.
Gold is generally traded in the form 24-karat (99.9% purity) and 22-karat (91.6% purity), though 20-karat, 18-karat and 14-karat gold jewellery is also in vogue. An average consumer, however, never buys 24-karat pure gold unless in the form of investments such as gold coins or bars, or e-gold and gold bonds.
24-karat gold prices: The price of pure gold in Jamshedpur as on March 10, 2016 was Rs. 29,720. This is lower than the Rs. 30,374 seen on March 10 in the national capital of Delhi.
22-karat gold prices: People looking to buy gold jewellery in Jamshedpur will have to pay Rs. 27,780 for 22-karat gold (as on March 10). In Delhi, the price on March 10 was Rs. 28,400.
Gold Rate Trend in Jamshedpur for January 2018 to March 2018 (per gram of 24 karat gold)
| Factor | January | February | March |
| 1st day | Rs.3,090 per gram | Rs.3,146 per gram | Rs.3,143 per gram |
| Last day | Rs.3,127 per gram | Rs.3,163 per gram | Rs.3,159 per gram |
| Highest price | Rs.3,172 per gram on 25 January | Rs.3,191 per gram on 18 & 19 February | Rs.3,198 per gram on 25 & 26 March |
| Lowest price | Rs.3,088 per gram on 5 January | Rs.3,105 per gram from 10-13 February | Rs.3,117 per gram on 20 March |
| Trend | Incline | Incline | Incline |
| Change | 1.19% | 0.54% | 0.50% |
Gold Rate Trend in Jamshedpur for October 2017 to December 2017 (per gram of 24 karat gold)
| Factor | October | November | December |
| 1st day | Rs.3,109 per gram | Rs.3,071 per gram | Rs.3,074 per gram |
| Last day | Rs.3,091 per gram | Rs.3,085 per gram | Rs.3,098 per gram |
| Highest price | Rs.3,138 per gram from 12 to 17 October | Rs.3,123 per gram on 20, 25th and 26th November | Rs.3,098 per gram on 30 and 31 December |
| Lowest price | Rs.3,079 per gram from 27 to 29 October | Rs.3,035 per gram 18 November | Rs.3,001 per gram on 12 and 13 December |
| Trend | Decline | Incline | Incline |
| Change | -0.57% | 0.45% | 0.78% |
Gold Rate Trend in Jamshedpur for October 2017:
- Gold was trading at Rs.3,109 per gram when trading began in Jamshedpur for October 2017.
- Gold rates fluctuated considerably over the first two weeks before hitting a monthly peak on the 12th to trade at Rs.3,138 per gram.
- Due to a steady demand from local investors and a weak US dollar, the yellow metal continued to trade at this rate till the 17th of the month.
- As the month progressed, the US dollar clawed back against other currencies and pushed gold rates to consolidate.
- After significant fluctuations, gold rate in Jamshedpur hit their lowest rates towards the final few days of this month. This was because demand hit a new monthly low in the city and the metal traded at Rs.3,079 per gram as a result of this.
- The next two days, i.e., the 28th and the 29th also saw gold trade at Rs.3,079 per gram as demand remained low but weak.
- Gold improved slightly over the final two days of October to close at Rs.3,091 per gram on the final day of the month.
- The yellow metal’s rates declined by 0.579%, owing to some poor sales witnessed during the initial stages of the month.
Gold Rate Trend in Jamshedpur for November 2017:
- When trading opened for the month of November, gold was priced at Rs.3,071 per gram.
- Unlike the previous month, gold prices actually inclined over the course of this month, thanks to slow yet steady increase in demand buoyed by fresh festive demand.
- There were considerably fluctuations in gold prices for the first three weeks and the metal traded at its lowest on the 18th when it traded at Rs.3,035 per gram.
- As the festive season approached, and as local jewelers rushed in to make purchases in order to meet the rising demand, gold rate in Jamshedpur surged towards the fourth week.
- Gold prices were recorded at their highest levels for this month on the 20th, the 25th and the 26th of the month, when it traded at Rs.3,123 per gram.
- Rates consolidated further and the metal traded at Rs.3,081 per gram on the final day of November.
- Thanks to festive demand and a slightly weaker dollar, gold price trends saw a 0.45% surge over the course of this month’s trading.
Gold Rate Trend in Jamshedpur for December 2017:
- On the 1st of December, gold was seen trading at Rs.3,074 per gram when the final month of Q4 2017 began in Jamshedpur.
- The metal recorded its lowest rate on the 12th as the latest tax cuts introduced by US President Donald Trump help the dollar gain against other currencies.
- Gold traded at Rs.3,001 per gram over the 12th and the 13th before seeing steady improvements as days passed.
- Despite some fluctuations, gold rates hit their highest for the month on the 30th and the 31st of the month when it traded at Rs.3,098 per gram.
- Overall, there was a 0.78% month-on-month incline in prices recorded this month, thanks to an increased local demand and a weak US dollar.