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Agra is a major tourist destination it has 3 UNESCO World Heritage Sites. The Mughals ruled the area for the longest time. Which is why there was a huge demand for gold and this explains the presence of so many jewellers. The demand for gold increases during the festivals and wedding season. The gold rate in Agra is based on the international gold rate.
Gold Rate in Agra
Gold rate per unit in Agra is determined based on the gold purity. Buyers can purchase either 24 karat, 22 karat, 18 karat or 14 karat gold. 14 karat gold is cheaper and 24 karat gold is costly. Gold rate in Agra changes in accordance to the international gold rate. The gold rate in Agra in the year 2015 fell considerably, but the rates started climbing in January, 2016.
24 karat gold:
24 karat gold is the purest form of gold as it includes 99.95% of gold mass. 24 karat gold is a very soft metal hence it cannot be used to make jewellery or other ornaments. The gold rate for 24 karat gold in Agra is Rs.29,800 per 10 grams as on 14th March, 2016.
22 karat gold:
22 karat gold is the highest quality gold as it has 91.6% of gold mass. It has a shiny yellow coat and is used to mostly to make jewellery and ornaments. The brightness of the 22 karat gold depends on the metal with which it is alloyed. 22 karat gold is usually alloyed with silver or copper. You get a reddish tint when you alloy 22 karat gold with copper. Zinc can be added to copper to neutralise the rose color and make it look yellow.
Jewellers prefer alloying 22 karat gold with silver. It is the common form of retail gold jewellery. It is worn off easily, so special care must be taken. The gold rate for 22 karat gold in Agra is Rs.27,830 per 10 grams as on 14th March, 2016.
18 karat gold:
18 karat gold includes 75% of the gold mass making it the popular karat for jewellery. It also provides sufficient strength to hold the gemstones, diamonds and emeralds in place. Pink and rose gold are also 18 karat gold.
14 karat gold:
14 karat gold includes 58.3% of gold mass and it is the cheapest type of gold jewellery. When 14 karat gold is alloyed with copper, you get a dull bronze color. You get white gole when you alloy 14 karat gold with silver or nickel.
Gold Rate Trend in Agra for October 2016 to December 2016 (per gram of 24 karat gold)
|1st day||Rs.3,205 per gram||Rs.3,099 per gram||Rs.2,893 per gram|
|Last day||Rs.3,099 per gram||Rs.2,930 per gram||Rs.2,844 per gram|
|Highest price||Rs.3,205 per gram from 1st-4th October||Rs.3,213 per gram on 5th November and 6th November||Rs.2,893 per gram on 1st December|
|Lowest price||Rs.3,088 per gram from the 6th of October to the 25th of October||Rs.2,929 per gram from 25th November to 27th November||Rs.2,800 per gram from 23rd December to 28th December.|
Gold Rate Trend for Agra in October 2016
- Gold was priced at Rs.3,205 per gram on 1st October in Agra, with prices remaining constant due to high demand. This rate was sustained for the next three days, until the 4th of October as well.
- There were very few fluctuations in demand due to a resurgent U.S. Dollar and recovering stock markets. However, despite external factors, the largely stable demand for gold was reflected in the relatively stable prices. Upcoming wedding season was also a factor that contributed to stable gold rates.
- Prices stabilised towards the middle of the month, though demand was still sluggish due to rumoured concerns regarding a law that would result in stricter scrutiny of bullion purchases.
- The price of gold was completely stable at Rs.3,088 per gram for 24 carat gold from the 6th of October to the 25th of October. This is quite unusual but stable demand in both domestic and international markets could have contributed to this stability in prices.
- Despite fluctuating markets as the final phase of polling in the U.S. elections was underway, the U.S. Dollar was stable a result of positive economic policies and reflected in stable gold prices.
- Towards the end of the month, from the 26th of October, the price of gold was steady at Rs.3,099 per gram and continued till the last day of October.
- However, despite the stability in prices, there was a decline of 3.16% noted in the price of gold at the end of October as compared to the beginning of the month.
Gold Rate Trend for Agra in November 2016
- The beginning of November saw gold trade at a high price of Rs.3,099 per gram. However, right from the second day of November, a rise was noted in the price of gold due to uncertainty in the international markets.
- Price of gold was steady at Rs.3,150 per gram on the second and third day of November and rose even further the next day to trade at Rs.3,192 per gram.
- Gold traded at an unprecedented high of Rs.3,213 per gram on the 5th and 6th November making this the highest rate at which gold traded at for the month of November.
- However, this high streak in gold rates did not continue and steadily declined as the month progressed. This decline could be attributed to a number of factors.
- The unexpected victory of Donald Trump in the U.S. Presidential elections led to markets declining.
- This month was also the time when Prime Minister Narendra Modi unexpectedly put forth the rule banning notes worth Rs.1,000 and Rs.500 as means to curb corruption. This announcement led to panic resulting in demand for this precious metal.
- Gold reached Rs.3,211 per gram in the aftermath of the demonetisation announcement and stayed there for a couple of days before plunging again.
- From the 11th of November to the 16th of November, price of gold was steady at Rs.3,071 per gram before marginally reducing. International markets steadied, leading to decreasing demand for gold as imports became costlier.
- After the 18th of November, price of gold reduced significantly, trading at Rs.2,994 per month before rising again slightly to Rs.3,020 per gram on the 23rd of November.
- However this rise in price could not be sustained and price of gold plunged again to Rs.2,971 and then Rs.2,929 per gram on the 25th of November which was the lowest rate at which gold traded at for the month of November.
- As the month drew to a close the price of gold fluctuated slightly before closing at Rs.2,941 per gram which was again quite low as compared to the previous months. A number of factors contributed to a decline of 5.45% in the price of gold as compared to the beginning of the month.
Gold Rate Trend for Agra in December 2016
- Demonetization had a negative impact on the demand for gold and was a reflection of the international trend as well, resulting in a decline the price of gold as compared to the month of November.
- Gold opened at Rs.2,893 per gram on the 1st of December and was steady until the next day.
- Price of gold declined slightly the next day to trade at Rs.2,887 per gram and continued at this rate until the 7th after which a slight rise was noted in the price of gold.
- The price of gold was steady at Rs.2,864 per gram until the 14th of December after which the price of this precious metal declined again to trade at Rs.2,822 per gram until the 22nd of December.
- The run-up to Christmas saw a further decrease in the price of gold, as overseas markets were buoyed by high volumes of spending, though demand was quite low in India owing to a shortage in cash.
- The price of gold was steady at Rs.2,800 per gram during the last week of December which was also the lowest rate at which gold traded at for the entire month of December.
- Towards the last three days of the month, the price of gold slightly recovered as the U.S. Dollar fell due to a low possibility of U.S Federal Reserve interest rate hike.
- Gold traded at Rs.2,844 per gram on 31st December, recording a decline of 1.72% due to low demand.
Gold Rate Trend in Agra for July 2016 to September 2016 (per gram of 24 karat gold)
|1st day||Rs.3,167 per gram||Rs.3,219 per gram||Rs.3,184 per gram|
|Last day||Rs.3,219 per gram||Rs.3,205 per gram||Rs.3,217 per gram|
|Highest price||Rs.3,227 per gram from 7th to 9th July||Rs.3,248 per gram on 4th and 10th August||Rs.3,228 per gram from 7th to 12th September|
|Lowest price||Rs.3,163 per gram on 22nd July||Rs.3,205 per gram from 26th to 31st August||Rs.3,184 per gram on 1st and 2nd September|
Gold Rate Trend of Agra in July 2016
- Gold traded at Rs.3,167 per gram on 1st July.
- Demand was high in domestic and global markets.
- Gold prices climbed to the highest for the month of July on 7th July trading at Rs.3,227 per gram and remained unchanged till 9th July.
- Gold prices fell in the third week of July as demand for the yellow metal was low.
- Towards the end of the month, the dollar lost strength and demand for gold was on the rise.
- The month closed with gold trading at Rs.3,219 per gram on 31st July.
Gold Rate Trend of Agra in August 2016
- Gold continued to trade at Rs.3,219 per gram on 1st August as demand was stable.
- A constant trend swept over gold rates till 9th August.
- Domestic demand was stable as jewellers and retailers increased their offtake for the festive season.
- Anticipation of a Fed rate hike grew stronger this month and investors were reluctant to take on gold.
- Gold prices dropped leading to a decline of 0.43% this month in gold rates.
Gold rate trend of Agra in September 2016
- Gold traded at Rs.3,184 per gram on 1st and 2nd September which was the lowest rate for this month.
- The highlight for this month was that the interest rate hike by the U.S. Federal Reserve was put on hold as the U.S. presidential elections were too close.
- Gold gained its safe-haven appeal back and investors increased their appetite for gold.
- Gold rates climbed this month leading to an increase of 1.04%.
Gold Rate Trend in Agra for April 2016 to June 2016 (per gram of 24 karat gold)
|1st day||Rs. 2,943 per gram||Rs. 3,119 per gram||Rs.2,960|
|Last day||Rs. 3,119 per gram||Rs. 2,960 per gram on 30th of May||Rs.3,167|
|Highest price||Rs.3,119 per gram on 1st of April||Rs. 3,120 per gram on 9th of May||Rs.3,182 per gram on 28th June|
|Lowest price||Rs. 2,933 per gram on the 5th of May||Rs. 2,960 per gram on the 30th of May||Rs.2,950 per gram on 2nd June|
Gold Rate Trend of Agra in April 2016
- Gold continued to trade at Rs. 2,943 per gram for the first three days of April
- Gold witnessed a lot of fluctuation in the month of April with changes in rate every week.
Gold Rate Trend of Agra in May 2016
- There were no major changes in demand and the rate remained unchanged at Rs. 3,119 per gram for the first three days of May.
- Gold witnessed a decline at Rs. 3,048 per gram on 24th of May owing to low demand.
- The price further declined to Rs. 2,960 per gram on 30th of May.
Gold Rate Trend of Agra in June 2016
- At the beginning of the month, rate of gold was Rs.2,960 per gram.
- Price of gold decreased by Rs.10 the next day to cost Rs.2,950 per gram and this rate was maintained until the last day of week.
- Continuing from the previous week, the price of gold was Rs.2,950 on the first day of the month and increased slightly thereafter.
- The price of gold was steady at Rs.3,003 per gram on the 6th and 7th.
- Gold rate decreased slightly after that on the 8th to cost Rs.2,983 per gram.
- Prices increased thereafter and the price of gold was Rs.3,006 on the last day of the week.
- Price of gold increased from Rs.3,006 per gram on the 12th to Rs.3,056 per gram on the 13th.
- In addition to the above, from the 14th to 16th of June, gold rate was steady at Rs.3,066 per gram.
- There was a significant increase in price seen thereafter with price of gold being Rs.3,109 per gram from 17th to the 20th.
- On the 19th, the rate of gold was Rs.3,109 which continued from the previous week.
- There were variations noted in rates seen from 19th to 22nd of June with the highest during those four days being Rs.3,120 per gram on the 21st.
- From 23rd to the 27th, the rate of gold was steady at Rs.3,098 per gram.
- Gold rate was at Rs.3,098 per gram and was the same on the 26th and 27th of June.
- There was a rise noted in the rate of gold on 28th with price of gold being Rs.3,182 per gram which was also the highest for the month.
- The above price was steady for an another day and decreased slightly to close at Rs.3,167 per gram on 30th June.
|1st day||Rs. 2,585 per gram||Rs. 2,756 per gram||Rs. 3,030 per gram|
|Last day||Rs. 2,756 per gram||Rs. 3,037 per gram||Rs. 2,948 per gram|
|Highest price||Rs. 2,767 per gram on January 27th||Rs. 3,049 per gram on 26th of February||Rs. 3,030 per gram from March 1st to 14th|
|Lowest price||Rs. 2,580 per gram from January 2nd to 4th||Rs. 2,756 per gram on 1st of February||Rs. 2,948 per gram on 31st of March|
Gold Rate Trend of Agra in January 2016
- Gold traded at Rs. 2,585 per gram on the 1st of January without many changes over the next four days
- Gold rose by Rs. 100 at Rs. 2,681 per gram on 7th of January.
- Gold hit the highest rate for January on 27th at Rs. 2,767 per gram.
Gold Rate Trend of Agra in February 2016
- Gold remained unchanged at Rs. 2,756 per gram on 1st of February.
- Gold traded at Rs. 3,008 per gram during the better half of the second week of the month.
- February witnessed a steady rise in Gold prices as it shot up to Rs. 3,049 per gram on 26th of February.
Gold Rate Trend of Agra in March 2016
- Gold remained unchanged at Rs. 3,030 per gram for the first two weeks of March.
- Gold witnessed a steady downfall in the last two weeks of March and stood at Rs. 2,948 per gram at the end of March.
Gold investment avenues in Agra
Residents of Agra love buying gold either as jewellery or as an investment. Gold sales climb during the festivals and wedding season. Investors invest in gold to protect themselves from the fluctuating market as it is treated as a safe haven asset. Gold can be brought in Agra in the following ways:
- Market trade:
Gold can now be purchased from anywhere if you have access to E-gold, futures and ETFs. E-gold is traded at the National Spot Exchange. BSE (Bombay Stock Exchange) trades ETFs. Trading in gold is subject to risk which you must be aware of before you decide that you want to start trading.
- Over the counter purchases:
Residents of Agra prefer looking at the jewellery and trying it on before actually buying it. There are a many jewellers in Agra from where people buy gold. Gold can be purchased in the form of coins and bars from the banks as well as jewellers. You will get a purity certificate when you buy gold from the bank which makes it costlier.
Also Check Gold Price in NearBy Cities of Agra
|Gold Rate In Bareilly||Gold Rate In Lucknow||Gold Rate In Meerut|
|Gold Rate In Ghaziabad||Gold Rate In Kanpur||Gold Rate In Varanasi|
|Gold Rate In Allahabad||Gold Rate In Aligarh||Gold Rate In Noida|
- Also Check: Gold Rate in Uttar Pradesh
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- Is Buying Gold a Good Investment in 2016
- Gold Rate Outlook for India in 2016