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Located in the state of Haryana, Ambala city is the municipal corporation of the Ambala District and lies close to the border of Punjab and Haryana. This city is also known as the twin city since its bifurcated into Ambala city and Ambala Cantonment. Founded by the Rajputs, Ambala has become a major hub for the defence forces and is home to the one of the country’s oldest airforce base. Economically Ambala thrives with its rich cloth and fabric market and is also a well renowned centre for manufacturing of scientific apparatus such as microscopes and other scientific equipment and is also known as the city of scientific apparatus. The city is also well connected to other major cities of North India.
Gold price in Ambala
Gold rates are dynamic in nature and vary not just on a daily basis for the country but also varies from city to city. This variation or fluctuation in prices is a product of taxes and other overhead costs incurred by the jewellers which varies according to the economic policies set forth by each state government. Another major reason for price fluctuation is the quality of gold in question. 24 karat gold having the highest gold purity is the most expensive form of gold with 22 karat coming in next followed by 18 karat. The prices of 24 karat gold and 22 karat gold in Ambala are as follows
24 karat gold – The purest form of gold from the lot, 24 karat gold has a purity content of 99.9% making it the most expensive form of gold and also the most lucrative form of gold as an investment. The price of 1 gram of 24 karat gold in Ambala is Rs 2991 as of 9th March 2016. The gold rates across India had seen a drop in 2015 and it was a good time to buy gold as an investment but gold prices are expected to rise in 2016 in the coming months and more so in the next few days
22 karat gold – second in line is 22 karat gold with a lower purity content of 92%. This form of gold is still widely purchased since the impurities in it consist of other metals that make the gold malleable and a good candidate for use in ornamental jewellery. The price of 22 karat gold is Rs 2795 per gram of gold as of 9th march 2016. The prices of 22 karat gold also saw a drastic drop in 2015 but is expected to rise in the coming months of 2016.
Gold Rate Trend in Ambala 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 Ambala in July 2016
- Amid the dust of the Brexit vote, expectations of the central banks providing monetary support grew strong.
- Gold traded at Rs.3,167 per gram on 1st July.
- Demand for the metal started to rise lending support to gold rates.
- The highest price for this month was Rs.3,227 per gram on 7th to 9th July on account of high demand in the global and domestic market.
- The U.S. released strong non-farming payroll data which led to rising expectations of a Fed rate hike.
- The demand for gold fell and the gold rate reached its lowest for the month on 22nd July, trading at Rs.3,163 per gram.
- There was an incline of 1.61% in gold rates this week.
Gold Rate Trend of Ambala in August 2016
- Gold traded at Rs.3,219 per gram on 1st August.
- The highest rate for the month was on 4th August at Rs.3,248 per gram.
- The U.S. Federal Reserve raised expectations of a rate hike this month as the U.S. economic data was positive.
- Demand for gold fell amid a bearish global market.
- The trend for this month was a decline of 0.43%.
Gold Rate Trend of Ambala in September 2016
- Strong expectations of the Fed rate hike continued into the month of September and kept gold prices low.
- Gold traded at Rs.3,184 per gram on 1st and 2nd September which was the lowest price for this month.
- The U.S. Federal Reserve took a decision to postpone the rate hike to December as the presidential elections were too close.
- Investors and buyers emerged in the gold market again turning sentiments bullish.
- The trend for this month was an incline of 1.04%.
Gold Rate Trend in Ambala 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.2,950|
|Last day||Rs. 3,119 per gram||Rs. 2,960 per gram||Rs.3,167|
|Highest price||Rs.3,119 per gram on 30th of April||Rs. 3,120 per gram on 7th, 8th and 9th of May||Rs.3,182 per gram on 28th - 29th June|
|Lowest price||Rs. 2,933 per gram on 5th of April||Rs. 2,960 per gram on the 28th, 29th, 30th and 31st of May||Rs.2,950 per gram on 2nd - 5th June|
|Change||Rs. 176 per gram||Rs. 159 per gram||7.35%|
Gold Rate Trend of Ambala in April 2016
- Gold prices were recorded at Rs. 2,943 per gram on the first of April.
- Prices fluctuated during the month as marginal declines were written off by small gains.
- Prices remained stable for short period of time during the month, but ended the month recording an increase of Rs.176 in comparison with the start of the month.
Gold Rate Trend of Ambala in May 2016
- There were no major changes in demand and gold prices remained unchanged at Rs. 3,119 per gram for the first three days of May after which a slight decline was followed by a marginal rise.
- Gold prices were constant for several days in succession, with minor changes being recorded on certain days.
- By the end of the month, gold prices had declined by Rs.159 from the levels recorded on the first day of the month.
Gold Rate Trend of Ambala in June 2016
- Gold hit extremely low rates in the beginning of June falling from its high status in May.
- The air of uncertainty loomed amidst the Brexit polls leading to prices falling as low as Rs.2,950 per gram.
- Gold prices slowly climbed owing to its safe haven appeal and domestic demand.
- The month closed with a 7.35% increase at Rs.3,167.
Gold Rate Trend in Ambala for January 2016 to March 2016 (per gram of 24 karat gold)
|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. 2,772 per gram on January 28th||Rs. 3049 per gram on February 26||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 February 1st||Rs. 2,940 per gram on March 15 to 17|
|Change||Rs. 171 per gram||Rs. 281 per gram||Rs. 82 per gram|
Gold Rate Trend of Ambala in January 2016
- Gold traded at Rs. 2,585 per gram on the 1st of January and remained unchanged for the next few days.
- The highest rate of gold in the month of January was recorded on the 28thth at Rs. 2,772 per gram.
- Prices fluctuated during the month and gold traded at Rs. 2,756 per gram on the last day of the month.
Gold Rate Trend of Ambala in February 2016
- Gold traded at Rs. 2,756 per gram on the 1st of February as there were no changes in demand or international and domestic events to affect prices.
- Gold prices rose up to steadily over the course of the month with marginal losses being overshadowed by subsequent gains.
- The highest price in the month of February was recorded on the 26th when the value of the precious metal rose to Rs.3,019 per gram.
Gold Rate Trend of Ambala in March 2016
- Gold prices remained unchanged at Rs. 3,030 per gram for the entirety of the first two weeks of March.
- Gold price witnessed a decline over the course of the month as prices fell for the first three days of the third week before gaining marginally in the days that followed.
- Gold prices recorded gains on the 18th of March and remained constant until the 24th when they rose again by Rs.50 to remain steady for the remainder of the month.
- Although prices remained constant for long periods of time during the month, there was an overall decline of Rs.82 between the first and last day of March.
Gold investment avenues in Ambala
Gold investment goes back to the times gold was considered as precious and since that’s still the case, it comes as no surprise that even today among the plethora of investment avenues available, gold is still a sought after investment due to its property of not diminishing in the face of inflation. Gold for many is considered as a safe haven for investment and hence many people purchase the precious metal especially during times auspicious events.
Over-the-counter – Among the easiest methods of procuring gold is over the counter. Would be investors can simply purchase the precious metal over the counter from various retailers and jewellers spread across Ambala. The banks also provide investment avenues for gold which makes the purchase and investment simplified. The popular forms of gold purchases are gold coins and bars that are often purchased for investment purposes and ornamental gold jewellery such as bangles, chain and ear-rings that are purchased on auspicious events or in lieu of celebrating a particular occasion.
Market trade – This form of investment which involves heavy buying and selling of gold like the equity market is yet to take off in Ambala. Market trade still in its early stages, investors can utilize avenues of market exchange such as gold futures or gold ETFS and can also use the Mumbai Stock Exchange or the National Stock Exchange to trade in gold. The market trade requires the investor to put in some amount of time and effort to truly understand the process and invest efficiently
- Also Check: Gold Rate in Haryana
Also Check Gold Price in NearBy Cities of Ambala
|Gold Rate In Chandigarh||Gold Rate In Gurgaon||Gold Rate In Faridabad|
|Gold Rate In Hisar||Gold Rate In Karnal||Gold Rate In Delhi|
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