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Gold Price In Agra
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 Trend in Agra for January 2020 to March 2020 (per gram of 24 karat gold)
|1st Day||Rs.3,995 per gram||Rs.4,169 per gram||Rs.4,274 per gram|
|Last Day||Rs.4,169 per gram||Rs.4,368 per gram||Rs.4,253 per gram|
|Highest Price||Rs.4,211 per gram on 9 January||Rs.4,394 per gram on 25 and 26 November||Rs.4,536 per gram on 7 March|
|Lowest Price||Rs.3,995 per gram on 1 January||Rs.4,116 per gram on 7 February||Rs.4,111 per gram on 20 March|
Quarterly Gold Rate in Agra from January 2020 to March 2020:
- In Agra, gold rates opened the month of January at Rs.3,995 per gram. Over the opening month of 2020, gold prices were on an upward curve. The rates touched the highest for the month on 9th January with a gram of the 24-karat gold costing Rs.4,211. The increase in the price of the yellow metal was accounted to escalating tensions between the United States of America and the Middle East and the US-China trade tensions. Gold closed the month at Rs.4,211 per gram with the overall performance showing an incline with the percentage change being 4.35%.
- In the month of February, gold prices saw an incline in Agra. Having opened the month at Rs.4,169 per gram, the rates slipped to its lowest for the month on 7th February with a gram being sold for Rs.4,116 in the city. With investors shifting to the bullion market as COVID-19 started affecting people at a larger scale, the rates of the yellow metal increased. Gold hit its highest price for the month on 24th and 25th February with a gram of the precious metal costing Rs.4,394. Gold closed the month at Rs.4,368 per gram with a percentage change of 4.77%.
- In the month of March, the rates of the yellow metal slipped considerably as investors sold their assets in order to hoard cash and survive in the market. Having opened the month at Rs.4,274 per gram in the city, gold prices climbed in the market as investors waited for the US Federal Reserve to cut the interest rates with the aim of reducing the impact of coronavirus on the economy. Gold recorded its highest price for the month during this time with a gram costing Rs.4,536 per gram on 7th March. However, with many countries going into lockdown as the deadly virus spread, the rates slipped in the city as no trade occurred in the industry. The drop in the prices saw gold record its lowest price for the month on 20th March with a gram being traded for Rs.4,111. In Agra, the precious metal closed the month at Rs.4,253 per gram recording a percentage decline of 0.49%.
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:
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
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.