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Gold Price In Allahabad
The ancient city of Uttar Pradesh, Allahabad has housed many prominent personalities. From Amitabh Bachchan to Jawaharlal Nehru, Allahabad has been a hub of activity famous for its world-renowned university. As like all parts of eastern UP, Allahabad too shares its culture with cities like Kanpur, Lucknow and Varanasi.
The economy of the city is majorly driven by small businesses and people working in the public sector. Schools and colleges too make up for a huge percentage of employment option. Since, the city is home to most service-sector employees, savings is one of the primary financial features of the city. And savings in the form of gold is one of the most popular financial option chosen by the local people. With the lowering of gold prices globally, Allahabad too was not untouched by the growing demand for the yellow metal.
Trend of Gold Rate in Allahabad for April 2020 to June 2020 (per gram of 24 karat gold)
|First Day||Rs.4,253 per gram||Rs.4,699 per gram||Rs.4,799 per gram|
|Last Day||Rs.4,761 per gram||Rs.4,799 per gram||Rs.4,961 per gram|
|Highest Price||Rs.4,846 per gram on 29 April 2020||Rs.4,883 per gram on 18 and 19 May 2020||Rs.4,961 per gram on 30 June 2020|
|Lowest Price||Rs.4,253 per gram from 1 April to 20 April 2020||Rs.4,646 per gram on 2 May 2020||Rs.4,725 per gram on 8 June 2020|
Trend of Gold Rate in Allahabad 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 February||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|
Gold investment options in Allahabad
Since gold is a popular investment option, gold is available in various forms in the city of Allahabad. Two ways to obtain gold are either as an indirect financial instrument or by buying physical gold in the form of gold jewelry, gold bullions or gold coins.
Gold-based financial schemes are quite popular with the people of Allahabad. Gold ETFs are an innovative way of leveraging the return-potential of gold as an investment instrument. The current government has also launched a Gold Monetization scheme wherein gold lying at home can be utilized to earn interest.
Over the counter
Jewelry shops, both local and branded are places where gold is traded the most. Customers usually flock to these outlets to buy gold jewelry and even gold coins and bullions for investment purposes. Weddings and festivals are two seasons when customers visit gold sellers to buy gold.
Rate of gold is a huge factor in determining the demand for the precious metal in the city of Allahabad. The demand for the metal peaks irrespective of rate during the season of Diwali as well as during the wedding season.
Also Check Gold Price in NearBy Cities of Allahabad
|Gold Rate In Aligarh||Gold Rate In Noida||Gold Rate In 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|
- Also Check: Gold Rate in Uttar Pradesh
Read more on Gold
- Pricing Of Gold Ornaments- How Is It Actually Priced?
- What Do The Markings On Gold Mean
- Top 5 Factors That Affect Gold Rate In India
- Why Is Gold Rate Fluctuating
- Tips For Buying Gold Jewellery