Gold Rate In Andhra Pradesh Today

  • Today's Gold Rate in Andhra Pradesh ( 17 Jan 2021 )

    ₹ 4,550
    Today's Gold Rate (22K) per gram

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

    Rate Change
    Standard Gold (22 K) ( 1 gram ) ₹ 4,550 ₹ 4,600 ₹ -50 ↓
    Standard Gold (22 K) ( 8 grams ) ₹ 36,400 ₹ 36,800 ₹ -400 ↓
    Pure Gold (24 K) ( 1 gram ) ₹ 4,964 ₹ 5,018 ₹ -54 ↓
    Pure Gold (24 K) ( 8 grams ) ₹ 39,712 ₹ 40,144 ₹ -432 ↓

    Daily Gold Rates

    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    16 Jan 2021 ₹ 4,550 ₹ 36,400 ₹ 4,964 ₹ 39,712
    15 Jan 2021 ₹ 4,600 ₹ 36,800 ₹ 5,018 ₹ 40,144
    14 Jan 2021 ₹ 4,575 ₹ 36,600 ₹ 4,990 ₹ 39,920
    13 Jan 2021 ₹ 4,621 ₹ 36,968 ₹ 5,041 ₹ 40,328
    12 Jan 2021 ₹ 4,589 ₹ 36,712 ₹ 5,006 ₹ 40,048
    11 Jan 2021 ₹ 4,590 ₹ 36,720 ₹ 5,007 ₹ 40,056
    10 Jan 2021 ₹ 4,631 ₹ 37,048 ₹ 5,051 ₹ 40,408
    09 Jan 2021 ₹ 4,751 ₹ 38,008 ₹ 5,181 ₹ 41,448
    08 Jan 2021 ₹ 4,751 ₹ 38,008 ₹ 5,186 ₹ 41,488
    07 Jan 2021 ₹ 4,801 ₹ 38,408 ₹ 5,237 ₹ 41,896

    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 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%.

    Also Check Gold Price in Metro Cities

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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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    How To Buy Gold Coins/Bars (Bullion) Online

    Investing in gold bullion can be done online through various portals. Gold bullion like gold coins, gold bars and Spot and Future contracts are considered excellent financial investments. Learn how to easily invest in these products online at your convenience.

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    If you’re looking to invest in something to secure yourself for the future then gold is what you should be investing in. Discover the different ways and outlets through which you can purchase gold as well as gold related products.

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    News About Gold Rate Andhra Pradesh

    • 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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