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Ahmednagar is a historical city situated in central Maharashtra. The city has a large armed forces presence and defence facilities dating back to British rule. Being in the rain shadow region, the region experiences drought frequently and residents rely on trade and tourism for commerce. The popularity of temples and other religious sites ensure a steady stream of visitors, which has boosted the economy of the region.
Gold Rate Trend in Ahmednagar from April 2018 to June 2018(per gram of 24 karat gold)
|1st day||Rs.3,159 per gram||Rs.3,231 per gram||Rs.3,187 per gram|
|Last day||Rs.3,231 per gram||Rs.3,217 per gram||Rs.3,124 per gram|
|Highest price||Rs.3,243 per gram from 20 to 23 April||Rs.3,254 per gram on 14 May||Rs.3,192 per gram on 16 June|
|Lowest price||Rs.3,159 per gram from 1 and 2 April||Rs.3,197 per gram on 18 May||Rs.3,124 per gram on 25 June|
Gold Rate Trend in Ahmednagar for April 2018
- The precious metal was priced at Rs.3,159 per gram as the month opened on strong demand from both local as well as overseas buyers.
- The escalating tensions between the United States and North Korea led to turbulence and uncertainty across equity markets, which led to a rise in demand for gold.
- Local jewellers increased orders due to a low dollar rate, which kept gold prices stable and on the increase.
- Prices reached their highest for the month from 20-23 April, when gold traded at Rs.3,243 per gram on sustained demand and falling equity markets.
- Prices dropped marginally as the month ended, following a recovery by the dollar and profit taking by investors.
- Gold ended the month priced at Rs.3,231 per gram on 30 April as local demand echoed overseas trends.
Gold Rate Trend in Ahmednagar for May 2018
- Gold prices fluctuated over the course of the month, opening at Rs.3,231 per gram on static demand.
- The weakened U.S. Dollar led to increased interest in safe-haven resources like bullion, which led to prices climbing.
- Local demand was muted as the high cost of gold and the end of the wedding season led to reduced orders, though Asian demand kept prices steady.
- Geopolitical tensions between the United States and Iran led to fresh uncertainty across the bourses, which in turn resulted in increased demand for bullion.
- Prices stabilised after a prolonged period of instability as the dollar recovered and equity markets also recouped earlier losses.
- The precious metal lost value as investors awaited news of a possible rate hike, as the upcoming U.S.-North Korea summit also buoyed markets.
- The month ended with gold priced at Rs.3,217 per gram on 31 May to register a 0.43% drop in value.
Gold Rate Trend in Ahmednagar for June 2018
- June was yet another strong month for the dollar, which meant that gold and other precious metals would suffer.
- On the 1 June, gold was trading at Rs.3,187 per gram. This fluctuated for the first two weeks as demand was weak.
- 14 June recorded the highest gold rate for the month of Rs.3,192 per gram but as dollar rose, demand dropped around the world and subsequently in Patiala as well.
- On 25 June, the yellow metal traded at its lowest of Rs.3,124 per gram before consolidating as the days progressed.
- When trading ended for the month of June, gold was still seen trading at Rs.3,124 per gram.
- During this month’s trading price trends dropped by a significant 1.32%, thanks to a poor demand and a very strong dollar.