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Amravati is the 8th most populated city in Maharashtra. It is famous for religious architecture and attracts a good number of tourists. The city is fast growing and a large number of people residing in the city. The large number of residents invest in gold. The demand for gold increases during the festivals and wedding season. The gold rate depends on the international gold rate.
Gold Rate in Amravati
Gold rate per unit in Amravati is determined by the purity of gold. Buyers can purchase either 24 karat, 22 karat, 18 karat or 14 karat gold. 14 karat gold is cheap and 24 karat gold is expensive. Gold rate in Amravati changes in accordance to the international gold market. The gold rate in Amravati picked up in January, 2016 after the considerable fall in 2015.
24 karat gold:
24 karat gold is the purest form of gold, it includes 99.95% gold mass. This makes it a very soft metal therefore it cannot be used to make jewellery or other ornaments. The gold rate for 24 karat gold in Amravati is Rs.30,680 per 10 grams as on 11th March, 2016.
22 karat gold:
22 karat gold has 91.6% gold mass making it a highest quality gold. 22 karat gold is used to make jewellery and ornaments as it has a shiny yellow coat. The brightness of 22 karat gold depends on the metal that it is alloyed with. Mostly 22 karat gold is alloyed with silver or copper. When 22 karat gold is alloyed with copper, you will get a reddish tint. When zinc is added to copper it will neutralise the rose color and will make it look yellow.
Jewellers believe that the best quality gold is when the 22 karat gold is alloyed with silver. It is the most common form of retail gold jewellery. But, it will be worn off easily so you must take special care of the ornament. The gold rate for 22 karat gold in Amravati is Rs.28,480 per 10 grams as on 11th March, 2016.
18 karat gold:
75% of the gold mass is included in 18 karat gold and this makes it the popular karat for jewellery. It provides adequate strength to hold the gemstones, diamonds and emeralds in place. Pink and rose gold are also 18 karat gold.
14 karat gold:
58.3% gold mass is included in the 14 karat gold and it is the cheapest type of gold jewellery. You will get a dull bronze color when copper is alloyed with 14 karat gold. You will get white gold when you alloy silver or nickel with 14 karat gold.
Gold Rate Trend in Amravati for July 2016 to September 2016 (per gram of 24 karat gold)
|1st day||Rs.3,112 per gram||Rs.3,249 per gram||Rs.3,212 per gram|
|Last day||Rs.3,249 per gram||Rs.3,225 per gram||Rs.3,279 per gram|
|Highest price||Rs.3,249 per gram on 31st July||Rs.3,283 per gram on 18th August||Rs.3,285 from 23rd September to 26th September|
|Lowest price||Rs.3,112 per gram on 1st July||Rs.3,225 per gram on 31st August||Rs.3,212 on 1st September|
Gold Rate Trend of Amravati in July 2016
- Demand for gold increased this month as global trends were positive.
- Expectations of monetary stimulus from central banks grew strong in the market giving demand for gold a boost.
- Gold was able to touch Rs.3,249 per gram on 31st July, its highest price for this month.
- At the end of the month, there was an increase of 4.40% in gold prices.
Gold Rate Trend of Amravati in August 2016
- At the start of the month, gold continued to trade high at Rs.3,249 per gram.
- Demand was high as the market had a bullish outlook.
- The price of gold reached its highest on 18th August trading at Rs.3,283 per gram.
- Demand fell on account of strong prospects of a rate hike by the U.S. Federal Reserve.
- By 31st August, gold rates had reached their lowest for this month, trading at Rs.3,225 per gram.
- Gold rates fell by 0.74% this month.
Gold rate trend of Amravati in September 2016
- Gold rates continued to fall on account of a gloomy global market at the start of the month.
- Gold traded at Rs.3,212 per gram on 1st September.
- The interest rate hike by the U.S. Federal Reserve was put on hold till December in light of the upcoming presidential elections.
- Demand for the yellow metal started to climb as gold gained its safe-haven appeal back.
- Gold traded at its highest for this quarter at Rs.3,285 from 23rd September to 26th September.
- The trend for this month was an increase of 2.08% in gold prices.
Gold Rate Trend in Amravati for April 2016 to June 2016 (per gram of 24 karat gold)
|1st day||Rs. 2,989 per gram||Rs. 3,155 per gram||Rs.3,038 per gram|
|Last day||Rs. 3,154 per gram||Rs. 3,003 per gram||Rs.3,112 per gram|
|Highest price||Rs.3,119 per gram on 30th of May||Rs. 3,155 per gram from the 7th to the 11th of May||Rs.3,192 per gram on 27th June|
|Lowest price||Rs. 2,989 per gram from the 1st of April to the 11th.||Rs. 3,003 per gram on the 30th and 31st of May||Rs.3,015 per gram on 3rd June|
|Change||Rs. 165 per gram||Rs. 151 per gram||+2.43%|
Gold Rate Trend of Amravati in April 2016
- Gold prices were recorded at Rs. 2,989 per gram on the first of April and prices were on the decline until the 6th of the month after which prices rose to Rs.3,155 and remained constant until the 11th of the month.
- Prices remained constant at Rs.3,038 until the 22nd of the month and then declined by Rs.5 before remaining stable until the 20th of April.
- Prices increased consistently on the last two days of the month, and April, as a whole, recorded an increase of Rs.165 in comparison with the start of the month.
Gold Rate Trend of Amravati in May 2016
- There were no major changes in demand and gold prices remained unchanged at Rs. 3,154 per gram for the first two days of May after which marginal declines were recorded until the sixth of the month.
- Gold prices rose on the 7th of the month and remained constant until the 11th when they declined further to remain at Rs. 3,112 until the 15th of the month.
- Gold prices began rising steadily until the 25th of May when they began their consistent decline until the end of the month.
Gold Rate Trend of Amravati in June 2016
- The rate of gold was quite stable throughout the entire month with very few variations.
- Due to global uncertainty in the markets largely due to Brexit, the price of gold increase as there was a rise in the demand for gold.
- An increase of 2.43% was noted in the price of gold as the month ended.
- Gold traded at Rs.3,192 per gram on the 27th which was also the highest for the month.
Gold Rate Trend in Amravati for January 2016 to March 2016 (per gram of 24 karat gold)
|1st day||Rs. 2,601 per gram||Rs. 2,775 per gram||Rs. 3,068 per gram|
|Last day||Rs. 2,775 per gram||Rs. 3,068 per gram||Rs. 2.989 per gram|
|Highest price||Rs. 2,789 per gram on January 27th and 28th.h||Rs. 3068 per gram on February 27th, 28th and 29th.||Rs. 3,093 per gram from March 12th to 17th.|
|Lowest price||Rs. 2,601 per gram from January 1st to 3rd.h||Rs. 2,755 per gram on February 1st and 2d.||Rs. 2,989 per gram from March 22nd to 31st.|
|Change||Rs. 174 per gram||Rs. 293 per gram||Rs. 79 per gram|
Gold Rate Trend of Amravati in January 2016
- Gold traded at Rs. 2,601 per gram on the 1st of January and remained stable for the following few days.
- The highest rate of gold in the month of January was recorded on the 27th and 28th when prices rose to Rs. 2,772 per gram.
- Prices fluctuated during the month and gold traded at Rs. 2,775 per gram on the last day of the month, marking a gain of Rs.174 in comparison with the first day of the month.
Gold Rate Trend of Amravati in February 2016
- Gold traded at Rs. 2,775 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 steadily over the course of the month with marginal losses being written off by subsequent gains.
- The highest price in the month of February was recorded on the last three days of trading as the value of the precious metal closed the month at Rs.3,068 per gram.
Gold Rate Trend of Amravati in March 2016
- Gold prices remained unchanged at Rs. 3,030 per gram for the first ten days of the month.
- Gold price remained stable for lengthy periods during March, declining marginally on certain days before gaining stability for a few days in succession.
- Gold prices recorded marginal losses at regular intervals of time as the month progressed.
- Although prices remained constant for relatively long periods of time during March, an overall decline of Rs.82 was recorded between the first of March and the 31st of the same month.
Gold investment avenues in Amravati
Residents of Amravati love buying gold either as a jewellery or an investment. Gold sales usually high during the festivals and wedding season. Investors also buy gold to protect themselves from the fluctuating market as gold is treated as a safe haven asset. Gold can be brought in Amravati in the following ways:
- Market trade:
Gold can also be purchased from anywhere as you now have access to E-gold, futures and ETFs. E-gold is traded at National Spot Exchange. Bombay Stock Exchange trades ETFs. Trading in gold is subject to certain risk which you must be mindful of before you start trading.
- Over the counter purchases:
Residents of Amravati prefer looking at the jewellery and try it on before actually buying it. There are a numerous jewellers in Amravati from where people can buy gold in any form. Gold can be brought in the form of coins and bars from the bank as well as the jewellers. You get a purity certificate when you buy gold from the bank making it costlier.
- Also Check: Gold Rate in Maharashtra
Also Check Gold Price in NearBy Cities of Amravati
|Gold Rate In Nanded||Gold Rate In Sangli||Gold Rate In Jalgaon||Gold Rate In Kolhapur|
|Gold Rate In Mumbai||Gold Rate In Nagpur||Gold Rate In Pune||Gold Rate In Aurangabad|
|Gold Rate In Thane||Gold Rate In Nashik||Gold Rate In Solapur||Gold Rate In Indore|
Read more on Gold
- Auspicious Days To Buy Gold In 2016
- Gold And Indian Weddings
- How Does Gold Investment Affect Indian Economy?
- Where To Buy Gold In India
- How are Gold Rates Determined?