Gold Rate In Andhra Pradesh Today

  • Today's Gold Rate in Andhra Pradesh ( 26 Sep 2021 )

    ₹ 4,364
    Today's Gold Rate (22K) per gram

    Compare 22K & 24K Gold Rate In Andhra Pradesh (Today & Yesterday)

    Today
    Yesterday
    Rate Change
    Standard Gold (22 K) ( 1 gram ) ₹ 4,364 ₹ 4,357 ₹ 7 ↑
    Standard Gold (22 K) ( 8 grams ) ₹ 34,912 ₹ 34,856 ₹ 56 ↑
    Pure Gold (24 K) ( 1 gram ) ₹ 4,582 ₹ 4,575 ₹ 7 ↑
    Pure Gold (24 K) ( 8 grams ) ₹ 36,656 ₹ 36,600 ₹ 56 ↑

    Daily Gold Rates

    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    25 Sep 2021 ₹ 4,364 ₹ 34,912 ₹ 4,582 ₹ 36,656
    24 Sep 2021 ₹ 4,357 ₹ 34,856 ₹ 4,575 ₹ 36,600
    23 Sep 2021 ₹ 4,388 ₹ 35,104 ₹ 4,607 ₹ 36,856
    22 Sep 2021 ₹ 4,410 ₹ 35,280 ₹ 4,631 ₹ 37,048
    21 Sep 2021 ₹ 4,374 ₹ 34,992 ₹ 4,593 ₹ 36,744
    20 Sep 2021 ₹ 4,355 ₹ 34,840 ₹ 4,573 ₹ 36,584
    19 Sep 2021 ₹ 4,369 ₹ 34,952 ₹ 4,587 ₹ 36,696
    18 Sep 2021 ₹ 4,369 ₹ 34,952 ₹ 4,587 ₹ 36,696
    17 Sep 2021 ₹ 4,365 ₹ 34,920 ₹ 4,583 ₹ 36,664
    16 Sep 2021 ₹ 4,430 ₹ 35,440 ₹ 4,652 ₹ 37,216

    Weekly & Monthly Graph of Gold Rate in Andhra Pradesh

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    *Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.

    Gold Price in Andhra Pradesh

    Gold rate in Andhra Pradesh depends on several factors including its extensive use - from decking up idols during auspicious festivals (including religious processions common in this part of the country) and intricate bridal jewellery to gold bars and biscuits, to name a few. Andhra Pradesh is one of the largest producers of gold in the country. According to a detailed mapping by the Geological Survey of India in the recent past, Andhra Pradesh has around 7 million tonnes of ore. Significantly, Andhra Pradesh has one of the only three gold fields of the country, namely, the Ramgiri Gold Field in Anantpur district. Other areas with gold deposits include Bisanattam and Palachchur in Chittoor district in addition to Jonnagiri in Kumool district.

    Owing to age-old traditions, diverse communities cutting across age barriers, buy gold in the state throughout the year. However, there is a marked rush for gold during Akshaya Tritiya (considered one of the most auspicious days of the year) when jewellers offer attractive discounts and free gifts to boost sales. There are long queues outside jewellery malls during Diwali festivities as well. The commercial tax department regularly cracks down on bullion traders, who try to evade the 1% value added tax (VAT) on sale of the yellow metal.

    Gold Rate Trend in Andhra Pradesh for April 2021 to June 2021 (per gram of 24 karat gold)

    Factor January February March
    1st Day Rs.4,965 per gram Rs.5,018 per gram Rs.4,697 per gram
    Last Day Rs.4,996 per gram Rs.4,771 per gram Rs.4,511 per gram
    Highest Price Rs.5,950 per gram on 30 January Rs.5,018 per gram on 1 February Rs.4,697 per gram on 1 March
    Lowest Price Rs.4,838 per gram on 17 January Rs.4,690 per gram on 19 February Rs.4,511 per gram on 30 March and 31 March
    Trend Incline Decline Decline
    Change 0.62% -4.9% -4.0%

    Quarterly Gold Rate in Andhra Pradesh from January to March 2021:

    • The prices of gold in Andhra Pradesh on 1 January 2021 and 31 January 2021 were at Rs.4,965 per gram and Rs.4,996 per gram, respectively. Overall, gold rates inclined by 0.62% over the course of the month in the city. The lowest and highest prices that the yellow metal hit for the month was on 17 January and 30 January and were at Rs.4,838 for a gram and Rs.5,950 per gram, respectively.
    • Gold prices in Andhra Pradesh for the month of February started off at the rate of Rs.5,018 per gram. Gold rates in Andhra Pradesh started witnessing a declining trend during the second half of the month and it closed the month at the lowest recorded rate for the month wherein it stood at the rate of Rs.4,771 per gram seeing a decline of 4.9%.
    • In March, the rates of the yellow metal had dropped by 4.0%. The highest and lowest rates that the yellow metal hit for the month were Rs.4,697 per gram and Rs.4,511 per gram.

    Gold Rate Trend in Andhra Pradesh for January 2021 to March 2021 (per gram of 24 karat gold)

    Factor January February March
    1st Day Rs.4,965 per gram Rs.5,018 per gram Rs.4,697 per gram
    Last Day Rs.4,996 per gram Rs.4,771 per gram Rs.4,511 per gram
    Highest Price Rs.5,950 per gram on 30 January Rs.5,018 per gram on 1 February Rs.4,697 per gram on 1 March
    Lowest Price Rs.4,838 per gram on 17 January Rs.4,690 per gram on 19 February Rs.4,511 per gram on 30 March and 31 March
    Trend Incline Decline Decline
    Change 0.62% -4.9% -4.0%

    Quarterly Gold Rate in Andhra Pradesh from January to March 2021:

    • The prices of gold in Andhra Pradesh on 1 January 2021 and 31 January 2021 were at Rs.4,965 per gram and Rs.4,996 per gram, respectively. Overall, gold rates inclined by 0.62% over the course of the month in the city. The lowest and highest prices that the yellow metal hit for the month was on 17 January and 30 January and were at Rs.4,838 for a gram and Rs.5,950 per gram, respectively.
    • Gold prices in Andhra Pradesh for the month of February started off at the rate of Rs.5,018 per gram. Gold rates in Andhra Pradesh started witnessing a declining trend during the second half of the month and it closed the month at the lowest recorded rate for the month wherein it stood at the rate of Rs.4,771 per gram seeing a decline of 4.9%.
    • In March, the rates of the yellow metal had dropped by 4.0%. The highest and lowest rates that the yellow metal hit for the month were Rs.4,697 per gram and Rs.4,511 per gram.

    Gold Rate Trend in Andhra Pradesh for October 2020 to December 2020 (per gram of 24 karat gold)

    Factor October November December
    1st Day Rs.5,274 per gram Rs.5,194 per gram Rs.4,877 per gram
    Last Day Rs.5,193 per gram Rs.4,876 per gram Rs.5,096 per gram
    Highest Price Rs.5,326 per gram on 12 October Rs.5,302 per gram on 10 November Rs.5,138 per gram on 21 December
    Lowest Price Rs.5,096 per gram on 21 October Rs.4,876 per gram on 30 November Rs.4,877 per gram on 1 December
    Trend Decline Decline Incline
    Change -1.53% -0.96% 4.49%

    Quarterly Gold Rate in Andhra Pradesh from October 2020 to December 2020:

    • Gold prices in Andhra Pradesh in the month of October started at Rs.5,274 per gram for 24 karat and ended at Rs.5,193 per gram. This was an overall decline in the trend of prices with a percentage change of –1.53%. The highest price was on 12 October at Rs.5,326 per gram while the lowest price was Rs.5,096 per gram on 21 October.
    • In November, the rate of gold in Andhra Pradesh for 24 karat on the first day of the month was Rs.5,194 per gram which dipped to Rs.4,876 per gram by the end of the month. The highest price was Rs.5,302 per gram on 10 November while the lowest price was Rs.4,876 per gram on the last day of the month. The trend in gold prices in the state was that of a decline with a percentage change of –0.96%.
    • Gold prices in December in the state fared better than in the previous two months with an incline of 4.49% in prices. The month started off with the yellow metal priced at Rs.4,877 per gram for 24 karat and ended the month at Rs.5,096 per gram. The lowest price for the month was in the first day itself at Rs.4,877 per gram on 1 December while the highest price was by the third week of the month at Rs.5,138 per gram on 21 December.

    Gold Rate Trend in Andhra Pradesh for July 2020 to September 2020 (per gram of 24 karat gold)

    Factor July August September
    1st Day Rs.5,049 per gram Rs.5,583 per gram Rs.5,221 per gram
    Last Day Rs.5,561 per gram Rs.5,360 per gram Rs.5,354 per gram
    Highest Price Rs.5,561 per gram on 31 July Rs.5,914 per gram on 8 August Rs.5,408 per gram on 21 September
    Lowest Price Rs.5,049 per gram on 1 July Rs.5,359 per gram on 30 August Rs.5,019 per gram on 26 September
    Trend Incline Decline Incline
    Change 10.14% -3.99% 2.54%

    Gold Rate Trend in Andhra Pradesh for April 2020 to June 2020 (per gram of 24 karat gold)

    Factor April May June
    1st Day Rs.4,150 per gram Rs.4,670 per gram Rs.4,917 per gram
    Last Day Rs.4,720 per gram Rs.4,898 per gram Rs.5,067 per gram
    Highest Price Rs.4,720 per gram on 30 April Rs.4,898 per gram on 31 May Rs.5,067 per gram on 30 June
    Lowest Price Rs.4,150 per gram from 1 April to 5 April Rs.4,621 per gram on 2 May Rs.4,837 per gram from 8 June
    Trend Incline Incline Incline
    Change 13.73% 4.88% 3.05%

    Quarterly Gold Rate in Andhra Pradesh from April to June:

    • On 1 April 2020, the price of gold in Andhra Pradesh was at Rs.4,150 for a gram. Over the next 5 days, gold rates remained the same. This was the lowest rate that the yellow metal hit for the month. The coronavirus outbreak across the world was the main reason for the prices to increase. On 30 April, the price of gold was at Rs.4,720 for a gram, seeing a 13.73% incline over the course of the month.
    • In the month of May, the prices of gold opened and closed at Rs.4,670 per gram and Rs.4,898 per gram, respectively. The tensions between China and the US was the main reason for the prices to increase. Gold saw its prices increase by 4.88% in May.
    • In June, the prices of gold saw an incline of 3.05%. The increase in the number of coronavirus cases and the stimulus measures that were introduced ensured that the prices increased.

    Gold Rate Trend in Andhra Pradesh for January 2020 to March 2020 (per gram of 24 karat gold)

    Factor January February March
    1st Day Rs.3,922 per gram Rs.4,077 per gram Rs.4,185 per gram
    Last Day Rs.4,074 per gram Rs.4,185 per gram Rs.4,150 per gram
    Highest Price Rs.4,125 per gram on 8 January Rs.4,305 per gram on 24 February Rs.4,443 per gram on 6 March
    Lowest Price Rs.3,919 per gram on 2 January Rs.4,030 per gram on 6 February Rs.4,026 per gram on 19 March
    Trend Incline Incline Decline
    Change 3.87% 2.64% -0.83%

    Quarterly Gold Rate in Andhra Pradesh from January 2020 to March 2020:

    • The price of gold in Andhra Pradesh opened at Rs.3,922 and closed at Rs.4,074 on the last day of the month of January. The price of gold was impacted due to the trade tensions between U.S and China. The escalation of political tensions between the Middle East and U.S played a role in Gold touching its highest on 8 January at Rs.4,125 per gram. However, the price of yellow metal fluctuated and as things got better between U.S and China followed by easing of conflict between U.S and Middle East, the price of gold fell as investors turned to riskier assets. The price of gold in Andhra Pradesh was the lowest on the second day of January 2020 at Rs.3,919. The price of gold for the month of January rose by 3.87%
    • The gold prices in the state of Andhra Pradesh for the month of February opened at Rs.4,077 per gram due to the reports of outbreak of Coronavirus which played a role in the gold prices rising. The highest price the yellow metal touched was Rs.4,305 on 24 February as Covid-19 impacted the global markets forcing investors to turn towards gold which is considered to be a safe haven. The price of gold fluctuated and touched its lowest on 6 February at Rs.4,030 per gram as stock markets looked up due to monetary policy intervention by the People’s Bank of China. The gold price closed at Rs.4,185 with the overall price of gold for the month of February rising by 2.64%.
    • The month of March saw the gold prices opening at Rs.4,185 per gram and closing at Rs.4,150 per gram. The gold prices touched its highest on 6th March at Rs.4,443 as the outbreak of Coronavirus severely impacted the global markets forcing investors to turn to gold which is considered to be a safe haven. The price of yellow metal fell on 19th March at Rs.4,026 as investors sold their shares in order to hoard cash as global economy went through a turbulent time. The poor U.S job claims report also played a role in the price of yellow metal fluctuating throughout the month. Overall, the month of March turned out to be a disappointing month as the overall price of gold in Andhra Pradesh declined by 0.83%.

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    Gold as an investment in Andhra Pradesh

    All major cities and towns of Andhra Pradesh including Visakhapatnam, Vijayawada and Guntur among many others have large jewellery stores offering a wide range of gold articles suited for different occasions. Andhra Pradesh is among the largest consumers of gold.

    Over-the-counter: Gold prices in Andhra Pradesh are volatile, as is the case across the country and can therefore, fluctuate depending on a variety of factors including demand and supply, India’s imports, overall market conditions, macroeconomic factors and strength of the Indian currency. Gold is widely sold in the form of coins, bars and jewellery in Andhra Pradesh. Some of the top jewellery brands in the region include GRT jewellers, Vaibhav Jewellers, Kirtilal and Sons, Lalithambika Jewellers and Hira Panna Jewellers among others which supply pure BIS Hallmarked gold with a wide range of intricate designs.

    Market trade: Gold is also traded in spot contracts and exchange-traded funds (ETF). While Gold ETFs are sought-after across the country, demand for gold ETFs has been decreasing for the past two years, according to latest reports. Spot gold trading is preferred by some customers to make use of price volatility and instant access courtesy online brokers.

    FAQs About Gold Rate in Andhra Pradesh

    1. Will gold prices decrease in Andhra Pradesh?

      The price of gold may or may not fall as there are many factors which affect the price of the yellow metal in Andhra Pradesh and in India. These factors which affect the gold prices in Andhra Pradesh include the trend of the international bullion market, the global equities market, crude oil prices and the value of the U.S. dollar.

    2. What factors do I check before buying gold in Andhra Pradesh?

      A few important things to keep in mind before buying gold in Andhra Pradesh are:

      • The level of purity.
      • The price of gold per gram.
      • Buy-back terms of the lender
      • Certification of the metal.
    3. What international factors affect the gold rate in Andhra Pradesh?

      Many factors affect the price of gold in Andhra Pradesh such as crude oil prices, the value of international currencies, etc.

    4. Will the gold price in Andhra Pradesh keep changing?

      The gold price in Andhra Pradesh may keep fluctuating or changing due to various factors which affect the price of gold in the country.

    5. What is 916 gold?

      916 or 91.6 is the purity of gold which is in the final product. 916 gold has 91.6 grams of pure gold in 100 grams of alloy. 916 gold is the type of metal which is used to make jewellery as pure gold is fragile.

    Also Check Gold Price in Cities of Andhra Pradesh

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    News About Gold Rate Andhra Pradesh

    • Gold Price on 20 September 2021

      On Monday, 20 September 2021 24 carat gold was selling for Rs.46,390 per 10 gram in India. Due to state taxes, excise duty, and making charges, the price of gold jewellery varies across India, the metal's second-largest consumer. 10 gram of 22-carat gold was selling for Rs.45,550 in New Delhi and Rs.45,390 in Mumbai. The yellow metal was selling for Rs.43,710 in Chennai. The price of 10 grams of 24-carat gold in Delhi is Rs.49,690, whereas it is Rs.46,390 in Mumbai. Gold is selling for Rs.47,690 in Chennai this morning. The cost is Rs.48,350 in Kolkata.

      20 September 2021

    • Gold rates fall today

      Prices of gold and silver remained steady today in Indian markets amid weak global cues. On MCX, gold prices fell to Rs.48,000 per 10 gram while silver rates remained unchanged at Rs.69,103 per kg.

      Silver prices remained flat at $25.97 while platinum rose $2,830.14.

      15 July 2021

    • Gold futures prices for the month of August jump in India on 22 June 2021

      Gold futures prices for the month of August on MCX jumped by 0.28% on 22 June 2021 and were at Rs.47,206 for 10 grams. Following the meltdown last week, the prices of the yellow metal recovered on 21 June 2021. Gold futures prices for the month of August in the global markets settled at $1,782.90 for an ounce. On 21 June 2021, gold spot and futures prices in the international markets traded flat due to a weak dollar. In the domestic markets, gold prices jumped on 21 June 2021.

      24 June 2021

    • Fall in gold prices with increase in dollar strength

      Gold prices traded weaker with prices of spot gold the Commodity Exchange falling by 0.64% to settle at $1891 per ounce for the week. At the Multi Commodity Exchange, the prices of settled at Rs.48,600 per 10 gram. Bullion prices also were trading under pressure with the prices of gold dipping from the five-week high.

      7 June 2021

    • Gold prices trade flat in India on 18 May 2021

      Gold futures prices for the month of June on MCX fell by 0.15% and were at Rs.48,400 for 10 grams. According to several experts, individuals must invest in gold in the case of any drop. On 17 May, gold prices increased in India. In the international markets, gold futures prices for the month of June settled at $1,867.60 for an ounce. In the domestic markets, gold prices settled on a positive note. According to an expert, gold prices in the international markets jumped on 17 May due to a weak dollar.

      19 May 2021

    • Gold price slip as U.S. treasury yields gain

      As U.S. Treasury yields gained, gold retreated from a more than seven-week peak on Monday. Spot gold recorded a drop of 0.3 percent while U.S. gold futures slipped by 0.5 percent. Spot gold was trading at $1,771.40 per ounce while U.S. gold cost $1,771.30 for an ounce. It needs to be mentioned here that the yellow metal has slipped by more than 6 percent so far this year pressured by surging U.S. yields. Silver price also recorded a decline in the rates as it fell by 0.8 percent to cost $25.75 per ounce. Platinum was little changed at $1,203.31 while palladium increased by 1.4 percent to cost $2,814.99 per ounce.

      19 April 2021

    • Gold prices decline in the domestic markets

      Gold rates declined in the domestic market on 7 April due to a mute trend seen in the international market due to optimism surrounding the U.S economy after the U.S. Federal Reserve meet.

      On the Multi Commodity Exchange, gold contracts for June delivery was trading lower by 0.26% at Rs.45,798 per 10 grams. Silver futures for May delivery was down by 0.29% at Rs.65,705 per kg.

      Gold prices had increased before due to the recent rise in COVID-19 cases all over the world and the U.S. dollar value declining in the market.

      8 April 2021

    • Yellow metal trades flat, experts say sell silver on rise for a target of Rs 66,600

      Price of gold remained flat in Indian markets. On the Multi-Commodity Exchange (MCX), April gold contracts rose by 0.01% at Rs.44,956 for 10 grams. May silver futures dropped 0.78% at Rs 67,218 a kilogram.

      19 March 2021

    • Gold trades lower in the domestic market; a negative trend was seen in the international market

      In the Indian market, gold was trading lower due to muted trends seen in the international market. Silver prices followed suit and had declined by nearly 1%. On the Multi Commodity Exchange, gold contracts for April delivery were trading lower by 0.36% at Rs.44,788 per 10 grams. Silver futures for May delivery was trading lower by 0.75% at Rs.67,490 per kg.

      The U.S. Treasury yields were near the 1.5% mark and both the precious metals recorded more than a 1% decline in the international market. Gold futures for April were at $1,715.80 per ounce and silver contracts for May were at $26.39 per ounce.

      10 March 2021

    • Gold prices rise

      Prices of gold showed a positive trend on February 16. Silver March Futures rose by nearly 1% percent.

      On the Multi-Commodity Exchange (MCX), April gold contracts increased by 0.37% at Rs.47,418 for 10 grams. March silver futures rose 0.85% at Rs.70,728 a kilogram.

      16 February 2021

    • Price of gold and silver down

      Price of gold dropped in Indian markets on January 4. On the Multi-Commodity Exchange (MCX), April contracts dropped by 0.56% at Rs.47,549 for 10 grams. March silver futures slipped 1.09% at Rs.67,815 a kilogram.

      April gold futures traded $1,832.80 per troy ounce, while March silver contract ended $26.89 per troy ounce.

      5 February 2021

    • Yellow metal slips but holds above 49,100, buy on dips

      On the Multi-Commodity Exchange (MCX), the price of February gold contracts trading lower by 0.24% at Rs.49,104 for 10 grams. March silver was trending 0.8% lower at Rs.66,145 a kilogram.

      February gold futures contract settled at $1,851.40 per troy ounce dropping 0.19%, while silver March contract showed a much more positive trend and settled at $25.80 per troy ounce. Domestic markets also had a mixed day.

      15 January 2021

    • Gold rates increase after sharp fall

      On the MCX, the gold futures for February had been up by 0.2% and reached Rs.49,035 per 10 gram. Silver futures had increased by 0.26% and reached Rs.63,634 per kg. During the previous trading session, the gold rates had reduced by 0.8% and silver prices had reduced by 0.5%.

      In the international markets, the gold rates had been higher today because the investors had assessed the likelihood for more virus-related economic restrictions. Gold prices had been higher by 0.2% and reached $1,831.9 per ounce. Silver prices had risen by 0.2% and reached $23.87 per ounce.

      16 December 2020

    • Gold prices near Rs.52,000 while silver reaches Rs.64,300

      In the Indian commodity market, gold prices traded at Rs 52,000 while on the Multi Commodity Exchange, gold December futures traded at Rs.51,940, which was Rs.115 lower than the previous day’s price of Rs.52,055. December futures of silver traded at Rs.64,344 per kg with an intraday low of Rs 64,025 per kg. Spot gold fell to $1,939.10 per ounce, 0.5% lower, after increasing by 2.4% on 5 December 2020, heading towards a weekly gain of 3.2%. US gold futures decreased to $1,940.20 per ounce, a fall of 0.3%. Silver fell by 0.9% to settle at $25.10 an ounce.

      9 November 2020

    • Gold seen as the best performing class with returns of around 30%

      Even though the markets are recovering quickly, the interest rates on FDs are low and the equities markets continue to be poor. This year, the best performing asset has been gold, seeing a 30% return. The different ways by which an individual can invest in gold are gold ETFs, SGBs that are issued by the RBI, and digital gold that is being offered by mining firms. Even though SGBs do not come with the backing of physical gold, the market value of gold is provided at maturity after 8 years. Rs.50 is also provided as a discount if the SGB is purchased online.

      27 October 2020

    • Price of gold rises above Rs.51,000

      The price of gold per 10 gram on 12 October 2020 was Rs.51,000. On 9 October 2020, the price of silver and gold gained in hopes of the US government announcing a second stimulus package with corresponding weakness in the US dollar as well. These gains were in both the domestic and international markets. Prices of gold were $1,936.40 per troy ounce while silver was priced at $25.30 per troy ounce. The weekly gain of gold was almost 2% while silver gained 6%. On the Multi-Commodity Exchange (MCX), gold contracts for December traded higher by 0.38% with prices for 10 grams being Rs51,010 while silver futures for December traded at 1.4% more, being priced per kg at Rs.63,785. This was a positive note for both the metals on the MCX. The per 10-gram price of gold was Rs.50,817 while for silver, the 10-gram price was Rs.62,884.

      13 October 2020

    • Rate of gold falls due to a rise in dollar value; silver prices plummet

      Gold prices on 25 September dipped from Rs.53,460 per 10 grams to Rs.52,740 per 10 grams. Silver prices were trading at Rs.57,000 per kg according to sources. In New Delhi, 22-karat gold was priced at Rs.48,350 per 10 grams and in Chennai, was priced at Rs.47,550 per 10 grams. The price of 24-karat gold was Rs.51,870 per 10 grams in Chennai.

      On the Multi Commodity Exchange, gold futures for October increased by 0.80% to Rs.49,904 per 10 grams. Silver futures for December delivery was at Rs.59,629 per kg. In the previous session, gold prices closed at rs.50,903 per 10 grams and silver prices recorded a heavy decline by more than Rs.2,000.

      In the international market, gold traded at a low of $1,854 per ounce and silver was trading flat at $22.12 per ounce.

      28 September 2020

    • Gold price increase and silver rates stand at Rs.69,600

      Gold price had risen for the second straight time as U.S. dollar had weakened ahead of FOMC meeting on expectation that the Fed policymakers will be maintaining a dovish policy.

      On the Multi Commodity Exchange, the gold October futures had gained Rs.263 at Rs.51,950, after hitting a high of Rs,51,950 against Rs.51,687 per 10 gm. The MCX gold futures trade more than Rs.4,241 lower.

      Overseas, gold and silver held steady after an increase rise in the earlier session, helped by a weak U.S. dollar. Spot gold had been flat at $1,956.17 per ounce after it had gained 1% on Monday. Comex gold had been trading flat at $1,953 per ounce, and the U.S. gold futures had gained 0.1% at $1,966.40. Silverhad eased 0.1% to $27.12 per ounce.

      16 September 2020

    • Gold prices increase for the third day in a row on 1 September 2020

      The prices of gold in India increased for the third consecutive day in India on 1 September 2020. Due to a weak dollar, gold prices increased in the international markets as well. The announcement made by the Fed indicating that the interest rates will remain low also played a part in the prices of gold increasing. Gold futures prices for the month of October on MCX increased by Rs.358 and were at Rs.52,059 for 10 grams. In the previous session, the prices of gold closed at Rs.51,710 for 10 grams. After hitting record highs of Rs.56,191 for 10 grams on 7 August 2020, gold prices have reduced by Rs.4,481 for 10 grams. In the international markets, spot gold prices increased and were at $1,962 for an ounce. The coronavirus outbreak and the subsequent lockdown ensured that the prices of gold increased.

      2 September 2020

    • Silver prices rise by more than Rs.1,500 while gold prices show a mute trend

      In Mumbai, gold prices were holding steady at Rs.52,701 per 10 grams on 14 August due to mute global cues and amidst a weaker dollar value. The metal had shown a volatile trend after hitting a near 3-week low in the previous session. However, the relief bill to be launched by the White House to tackle COVID-19 had kept the markets at bay.

      The price of 24-karat gold in Mumbai was Rs.52,701 per 10 grams while 22-karat gold was priced at Rs.48,274 per 10 grams plus 3% GST. 18-karat gold was priced at Rs.39,526 per 10 grams.

      In the international market, COMEX gold for December contracts was trading at $1,944 per ounce compared to a sharp fall on 13 August at $1,874.20 per ounce. This was majorly due to rising tensions between China and the United States of America and a weaker dollar.

      18 August 2020

    • Gold prices track a positive trend due to a weak U.S. dollar

      Gold prices on 28 July showed a positive trend in the market as the international prices traded near the $2,000 per ounce mark. The rise in prices was majorly due to a weak dollar value and the expectations of a dovish market from the U.S. Federal Reserve meeting.

      Spot gold was trading higher by 1% at $1,969.76 per ounce after it hit $1,980.57 per ounce in the Asian trade. Silver prices also increased by 6% to $26.19 per ounce which was its highest in 7 years.

      On the Multi Commodity Exchange, gold contracts for August were trading higher by 0.4% at Rs.52,332 per 10 grams and silver futures for September was trading at Rs.66,726 per kg, increasing by 1.8%. The price of both metals increased on 27 July due to various geopolitical tensions and the dipping value of the dollar.

      30 July 2020

    • Prices of gold increase in India on 29 June 2020 to hit near record highs

      Due to a firm rate in the international markets, the prices of gold increased in India on 29 June 2020. Gold futures prices for the month of August increased by 0.3% and are at Rs.48,450 for 10 grams.

      In the previous week, the prices of gold in the country hit record highs and were at Rs.48,589 for 10 grams. In the last session, the prices of the yellow metal increased by 0.8%. In the international markets, the prices of gold continued to increase due to the increase in the number of coronavirus cases. This had led to fears that the economy may take longer to recover. Spot gold prices increased by 0.1% and are at $1,772.61 for an ounce. On 28 June 2020, the number of coronavirus cases across the world crossed 10 million. Traders are awaiting the US payroll data that is due on 2 July 2020. In times of financial and political uncertainties, the yellow metal is considered as a safe haven. In the international markets, the prices of gold have increased by 17%. Several measures have been introduced by central banks and governments across the world to help the economy that has been affected by the coronavirus outbreak. According to a forecast given by Goldman Sachs Group Inc., the prices of the yellow metal may hit $2,000 over the next 12 months.

      29 June 2020

    • Gold remains steady at around Rs.46,800

      On the MCX, the June and August gold contracts had been trading higher by 0.05% at Rs.47,162 per 10 gram. The metal had then settled on a flat note and silver had held gains in the international market. The gold August future had been $1750.30 per troy ounce and the white metal was at $18.83 per troy ounce. The yellow metal rates had settled at 47,100, and silver was at 50,500 levels.

      3 June 2020

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