Gold Rate In Aurangabad

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Named after Aurangzeb, the late Mughal emperor, Aurangabad is a historically popular Indian city in the state of Maharashtra. Known for its tourist attractions such as the world-renowned Ellora Caves and Ajanta Caves, both of which are recognised as UNESCO World Heritage Sites, Aurangabad is also called the City of Gates. The Tourism Capital of Maharashtra is also a great consumer of gold as individuals who reside in the town invest in gold heavily especially during the wedding season and during festivals.

In fact, gold is among the best investment options among the people of Aurangabad. Since Aurangabad was once home to great emperors and rulers, gold has always been held in significantly high regard in the city. Even now, centuries after the kings and rulers of the past, the city is still among the prime consumers of gold in the country. Many people in Aurangabad look at gold as the best option for gifting to their near and dear ones during festivals and auspicious occasions. Moreover, since gold offers high liquidity and serves as a welcome alternative to other forms of investment, there is no surprise that Aurangabad relies heavily on the yellow metal.

Gold Rate in Aurangabad

The rates of gold in Aurangabad may vary from dealer to dealer depending upon the purity of the precious metal. 24 karat gold is the most expensive form of the metal as it is 99.9% pure in comparison with 22 karat gold which is only 92% pure.

24 karat gold – Since the purity of 24 karat gold is 99.9%, it makes for a fine investment option and is hence relatively expensive when compared to 22 karat, 18 karat or 14 karat gold. However, only a small section of the city invests in 24 karat gold as it cannot be used in the production of jewellery and ornaments. The price of one gram of 24 karat gold in Aurangabad is Rs.3,090 as on the 9^th of March, 2016. This price is reflective of international trends over the past one year as prices fell during the second half of the year and increased steadily at the beginning of 2016.

22 karat gold – The purity of 22 karat gold stands at 92%, but the number of investors in this form of the precious metal is higher than the number of those who put their money in 24 karat gold. The main reason for this is that 22 karat gold is produced in such a way that it is ideal to be used in the production of jewellery and ornaments, and since a large number of people in Aurangabad invest in jewellery and ornaments, 22 karat gold experiences plenty of demand and supply in this Maharashtran city. As on the 9^th of March, 2016, the price of 22 karat gold in Aurangabad stood at Rs.2,870.

Gold Rate Trend in Aurangabad for April 2019 to June 2019 (per gram of 24 karat gold)

Gold Rate Trend in Aurangabad for January 2019 to March 2019 (per gram of 24 karat gold)

Gold Rate Trend in Aurangabad for January 2019: 

• When trading began, gold was priced at Rs.3,219 per gram as the continued uncertainty associated with the U.S. government shutdown made bullion more attractive, though interest from Asia remained poor due to the ongoing Sino-U.S. trade dispute. 
• Demand was on the rise as the festive season and the fluctuating U.S. dollar rate made the precious metal cheaper for local jewellers and retailers, as prices continued to rise. 
• Prices surged to Rs.3,284 per gram on 4 January and remained high for over a week as steady local demand and increased safe-haven offtake made the yellow metal more attractive to investors. 
• Minor dips were recorded as equities stabilised despite looming Brexit uncertainty, which resulted in gold rates in Aurangabad falling marginally to Rs.3,331 per gram on 22 January before recovering to close the month at Rs.3,411 per gram and record a 5.96% increase in value. 

Gold Rate Trend in Aurangabad for February 2019: 

• Gold prices in Aurangabad opened the month strongly, trading at Rs.3,411 per gram as global investor sentiment remained high with regard to bullion due to continued market volatility. 
• Geopolitical crises in the U.S. impacted the U.S. dollar value but positive jobs data boosted equities as the precious metal dipped to Rs.3,398 per gram on 8 February. 
• Local demand was muted as overseas cues were weak towards the middle of the month, but a sharp surge in safe-haven demand due to the ongoing Sino-U.S. trade dispute saw gold rally to Rs.3,446 per gram on 20 February. 
• Bullion prices dipped as the month ended as lacklustre demand from Asian markets and strengthening global currencies reduced interest in bullion, with the yellow metal priced at Rs.3,439 per gram on 28 February. 

Gold Rate Trend in Aurangabad for March 2019: 

• There was a steep decline in gold rates in Aurangabad after the metal opened at Rs.3,439 per gram as bullion demand dropped due to positive market cues and signs of an economic recovery. 
• Positive U.S. jobs and manufacturing data bolstered global equity markets and discouraged bullion offtake as local demand was also muted, with continued poor offtake from Asian nations like China impacting global bullion demand. 
• Despite steady jeweller orders local gold rates slid, as European industrial data also rose and reinforced possibilities of an economic recovery after looming slowdown fears. 
•  The prolonged drop in bullion demand saw prices slide throughout the month apart from marginal gains, resulting in the precious metal ending the quarter trading at Rs.3,266 per gram to record a steep drop of 5.03%. 

Gold Rate Trend in Aurangabad for October 2018 to December 2018 (per gram of 24 karat gold)

Gold trend in Aurangabad for October 2018

• Gold in October opened at Rs.3,140 per gram in Aurangabad. This month proved beneficial for investors as the price of the metal increased throughout the month due to the decrease in value of the dollar against other currencies.
• The lowest price of the metal was on the first day of the month at Rs.3,140 per gram and increased to Rs.3,228 per gram by the middle of the month due to the strengthening of the rupee against the dollar, leading to increased demand.
• However, post the US-China trade wars, the markets weakened, resulting in an increase of global demand of gold.
• The price of the metal was highest on 30 October 2018 and 31 October 2018, priced at Rs.3,302 per gram resulting in a percentage incline of 5.15.

Gold trend in Aurangabad for November 2018

• The month of November was not beneficial to investors as the price of the metal decreased to a great extent after the dollar recovered in the global market.
• Gold prices opened the month at Rs.3,302 per gram and decreased to Rs.3,209 per gram by the middle of the month following the fall of the rupee against the dollar.
• As the markets recovered in November, the investors were more focused in the market compared to the bullion, resulting in a decline in demand on a global scale.
• The price of the metal was the lowest at the end of the month, at Rs.3,140 per gram, resulting in a decline of 4.90%.

Gold trend in Aurangabad for December 2018

• Gold, in December, recovered to a great extent after the decline in the previous month due to the crisis in the United States of America. This crisis resulted in an increase in the value of the bullion.
• The price of gold on 1 December 2018 was Rs.3,131 per gram which increased to Rs.3,234 per gram by the middle of the month. This was the highest recorded price of the metal in Aurangabad for the month.
• In the second half of December, the price of the metal marginally decreased to Rs.3,199 per gram which was from 22 December 2018 to 27 December 2018.
• However, in the last week of the month, amidst increasing global demands, the price of the metal increased to Rs.3,219 per gram resulting in an incline of 2.81%.

Gold Rate Trend in Aurangabad for July 2018 to September 2018 (per gram of 24 karat gold)

Gold Rate Trend in Aurangabad for July 2018

• Domestic demand for gold in Aurangabad was stable at the start of July. However, interest from investors dropped along with the rupee causing the metal to drop in value as well.
• The month began with gold trading at Rs.3,142 per gram. From 5 - 11, the metal was priced at its highest for the month when it was trading at Rs.3,148 per gram.
• Domestic demand for the metal declined while retail buyers caused a reduced offtake in the metal. The price of gold did not dip drastically though, as favourable international trends were recorded.
• Gold in Aurangabad then hit a monthly low from 19-24 July when it stood at Rs.3,082 per gram. This can be linked to the rupee dropping in value which inherently depleted domestic demand for the metal as well.
• The month of July recorded a loss of 1.49% as it was priced at Rs.3,095 per gram at the end of the month.

Gold Rate Trend in Aurangabad for August 2018

• Trade disputes between the United States and China intensified at the start of the month which helped demand for gold in Aurangabad to surge.
• Gold, for the month of August, began trading at Rs.3,091 per gram. Investor demand rose substantially during this time.
• On 20 August, the price of gold in Aurangabad fell substantially as it was priced at Rs.3,031 per gram.
• On 31 August, gold was trading at Rs.3,104 per gram, recording an increment of 0.42%.

Gold Rate Trend in Aurangabad for September 2018

• The month began with gold priced at Rs.3,104 per gram with a steady rise in local retail demand due to the upcoming festive season.
• A sluggish rupee capped gains from bullion, as industrial demand was stagnant due to rising costs associated with a strengthening dollar.
• Gold prices in Aurangabad were static till the end of the month, when volatile stock markets saw a rise in investor interest in bullion and subsequently raised prices.
• The precious metal reached a monthly high of Rs.3,178 per gram on 27 September but was unable to maintain this momentum, closing the month at Rs.3,140 per gram.
• In spite of a sharp decline towards the end of the month, gold prices rose by 1.15% during the course of the month.

Gold Rate Trend in Aurangabad for April 2018 to June 2018

Gold Rate Trend in Aurangabad for January 2018 to March 2018 (per gram of 24 karat gold)

Gold Rate Trend in Aurangabad for January 2018:

• Gold opened at Rs.3,093 per gram when trading began for the month of January in Aurangabad.
• The opening was considerably strong and gold started off the new year on a high note.
• Prices dropped significantly on the 4th to Rs.2,080 per gram before continuing on till the 8th of the month, hitting the lowest monthly figure.
• This change was brought about by a poor local demand and a resurgent US dollar.
• The US dollar, however, went through a few shifts, which helps gold claw back some of its lost ground.
• Gold prices in Aurangabad started to improve after the fall and rose to a monthly high figure of Rs.3,162 per gram on the 17th and the 18th of the month.
• The final two weeks saw gold consolidate as the US dollar improved, which in turn pushed bullion demand down.
• When the month ended, gold was priced at Rs.3,121 per gram.

Gold Rate Trend in Aurangabad for February 2018:

• The second month of Q1 2018 opened with gold trading at Rs.3,128 per gram.
• Gold rates were at their lowest this month, from the 9th to the 11th when the metal traded at Rs.3,091 per gram as demand was on the weaker side.
• Due to a rise in demand ahead of the wedding season, gold rates surged during the third week. Gold rates were at their highest during this period and the metal traded at Rs.3,148 per gram from the 17th to the 22nd.
• The final day of this month saw gold trade at Rs.3,147 per gram. Price trends changed by 0.60% this month, thanks to stable demand.

Gold Rate Trend in Aurangabad for March 2018:

• The final month of Q1 2018, gold was priced at Rs.3,147 per gram.
• Prices from the start to finish of this month had seen very little change as the demand consolidated towards the end of the month.
• The highest rate for this month was recorded on the 8th, 9th, and from the 24th to the 31st of the month.
• Consequently, the lowest gold rate was recorded between the 17th to the 23rd when it traded at Rs.3,123 per gram.
• When the month ended, the yellow metal was priced at Rs.3,148 per gram.
• A marginal 0.03% change was recorded this month, as there was just a Re.1 change in the first and last day’s rates.

Gold Rate Trend in Aurangabad for October 2017 to December 2017 (per gram of 24 karat gold)

Gold Rate Trend in Aurangabad for October 2017:

• Gold opened at Rs.3,127 per gram when trading in Aurangabad opened for the month of October.
• This month bore witness to considerable decline in prices as demand for the metal remained weak as the US dollar was strong.
• Gold rates in Aurangabad ebbed and flowed for the first two weeks considerably before hitting a monthly high figure of Rs.3,135 per gram on the 12th of the month. This continued on till the 14th as demand continued to flourish owing to strong global cues.
• However, as the US dollar started to regain its lustre, gold prices in Aurangabad began to decline as days passed.
• On the 23rd, the yellow metal traded at Rs.3,002 per gram - the month’s lowest rate as the US markets strengthened allowing the dollar index to improve.
• Festive season helped gold prices to an extent and the metal traded at Rs.3,088 per gram when the month came to an end.
• Weak demand despite the onset of key festivals caused gold prices to fall by 1.24% this month.

Gold Rate Trend in Aurangabad for November 2017:

• When trading started for November, gold rates had fallen slightly. The metal opened at Rs.3,070 per gram for this month.
• With the local demand continuing to be weak amid a strong global economy, gold rate in Aurangabad dropped to Rs.3,061 per gram on the 6th of November.
• As jewellers increased purchases, gold rates began to rise from the second week onwards.
• Gold price in Aurangabad were at their highest this month on the 19th and the 20th when the metal traded at Rs.3,115 per gram, thanks to rising purchased from jewellers.
• However, demand consolidated as the month wore on and so did the prices, leading to gold prices going down to Rs.3,081 per gram on the 30th of November.
• There was a 0.35% incline in prices this month, thanks to a slightly better demand seen particularly during the third week of the month.

Gold Rate Trend in Aurangabad for December 2017:

• The last month of Q4 2017 saw gold price in Aurangabad improve in spite of the the weak cues seen during the second week.
• The US President Donald Trump’s latest tax reform, which initially garnered poor response actually pushed the dollar value up.
• On the 1st of December, gold was priced at Rs.3,078 per gram, which surged to Rs.3,094 per gram the next day - the month’s highest rate.
• This was due to the market’s volatility brought about by the backlash for Trump’s corporate-friendly tax structure.
• The dollar improved against other currencies, which caused gold demand to drop considerably and rates dropped significantly to reach Rs.2,988 per gram on the 12th of the month.
• However, various other issues concerning the administration caught gold rate in Aurangabad to surge as the month progressed.
• Gold improved to trade at Rs.3,093 per gram on the final day of the month and year.

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Gold Rate Trend in Aurangabad for July 2017 to September 2017 (per gram of 24 karat gold)

Gold rate trend in Aurangabad for July 2017

• Gold was priced at Rs.3,011 per gram, when trading commenced in Aurangabad for the month of September.
• The GST implementation seemed to have less impact on the local demand, the precious metal was trading at Rs.3,044 per gram the next day.
• However, prices dropped over the next few days with a decline in domestic demand for the bullion. This led to gold rates dropping to Rs.2,992 per gram on the 8th.
• Demand - overseas, as well as, domestic - dropped significantly leading to gold rates dropping to Rs.2,912 per gram on the 12th.
• The 14th witnessed the bullion touch the lowest recorded monthly figure of Rs.2,903 per gram due to a steep decline in demand from local, as well as, international markets.
• The geopolitical crisis between the US and North Korea sent the US economy crashing, pushing gold prices up to Rs.2,939 per gram on the 19th.
• Gold prices in Aurangabad rose further to Rs.3,002 per gram on the 22nd, thanks to an increase in safe-haven investments around the world coupled with an incline in Asian demand for the metal.
• However, investors suspended purchases over the next few days with the US dollar recovering, and the yellow metal was trading at Rs.2,972 per gram on the 26th.
• Increased local demand towards the end of the month resulted in gold prices in Aurangabad surging to Rs.3,001 per gram on the 29th.
• The month of July ended with gold trading at Rs.3,001 per gram, owing to steady demand from investors and retail jewellers.

Gold rate trend in Aurangabad for August 2017

• Gold opened at 3,005 per gram on the 1st, but prices dropped to Rs.2,997 per gram the next day as demand for the precious metal declined.
• The US dollar strengthened with the possibility of an increase in interest rates by the US Federal Reserve, leading to gold trading at Rs.2,975 per gram on the 5th.
• However, prices surged to Rs.3,034 per gram on the 11th as safe-haven investments around the world increased due to the overseas conflict between the US and North Korea.
• Investors banked on investments considered safer with the stand-off between North Korea and the US intensifying. This led to gold prices rising to Rs.3,072 per gram on the 17th. This was also the highest recorded monthly figure in Aurangabad.
• Prices dropped as the US dollar rates improved with the upcoming central banks’ meeting, and gold was trading at Rs.3,030 per gram on the 22nd.
• With speculations on a nuclear war between the US and North Korea, global markets crashed pushing gold prices up to Rs.3,058 per gram on the 28th.
• The 29th witnessed gold rates decline significantly to Rs.3,015 per gram with increased local demand in spite of positive global cues.
• The rest of the month witnessed gold holding steady at Rs.3,041 per gram with stable domestic demand against a strong dollar.

Gold rate trend in Aurangabad for September 2017

• When trading commenced in Aurangabad, the yellow metal was priced at Rs.3,041 per gram on the 1st of September.
• Gold trade improved significantly after the North Korean government announced an official statement on its most powerful thermonuclear weapon test to date. This pushed safe-haven investments higher worldwide, subsequently rising the demand for the precious metal. This led to gold being priced at Rs.3,185 per gram - the highest recorded monthly figure - on the 8th.
• However, the US economy recovered over the next few days, pushing the gold prices in Aurangabad down to Rs.3,141 per gram on the 13th.
• Demand for the bullion, however, dropped further as local investors and jewellers reduced purchases, and gold was trading at Rs.3,111 per gram on the 23rd.
• Despite the arrival of Dussehra, demand for the metal was on the low. This led to gold rates dropping to Rs.3,105 per gram on the 26th.
• The month ended with the yellow metal trading at Rs.3,109 per gram on the 30th as demand for the metal stabilised domestically.

Gold Rate Trend in Aurangabad for April 2017 to June 2017 (per gram of 24 karat gold)

Trend of gold rate in Aurangabad for April 2017

• When Q2 gold trading began in Aurangabad, gold was priced at Rs.3,011 per gram.
• Rates remained at Rs.3,011 for the next two days before increasing to Rs.3,034 per gram US dollar value went through a brief fall.
• However, as the sudden increase in demand drew to a close, gold prices ended at Rs.3,024 per gram on the 8th.
• As demand went down on the 10th, gold prices went down to Rs.3,005 per gram.
• But the fall in demand was short lived which was evident when prices went up to Rs.3,016 per gram on the 11th and then to Rs.3,058 per gram on the 12th.
• Gold purchases from jewellers in the city went up as prices increased over the next few days while demand remained stable.
• On the 13th, gold price in Aurangabad had gone up to Rs.3,065 per gram and continued at the same rate before jumping to Rs.3,096 per gram on the 17th.
• Although, there was a sustained demand till the 23rd, prices dropped suddenly to Rs.3,060 per gram as US dollar strengthened.
• The next few days saw gold prices decrease gradually to hit Rs.3,045 per gram on the 24th and then to Rs.3,010 per gram on the 25th.
• As the market in the US turned volatile, gold prices in Aurangabad went back up to Rs.3,021 per gram on the 28th and remained unchanged till the end of the month.
• Over the course of April, gold prices had increased at a rate of 1.66% due to an increase in demand spurred by a weak US dollar.

Trend of gold rate in Aurangabad for May 2017

• The month of May was a relatively negative period for gold sales in Aurangabad.
• On the 1st of the month, gold was priced at Rs.3,021 per gram but went down to Rs.3,002 per gram on the 2nd and then to Rs.2,994 per gram on the 4th.
• As there was very little demand in the local circles - due to a rising US dollar - gold prices went down to Rs.2,953 per gram on the 5th.
• Over the next few days, gold prices kept fluctuating and trading in the sub-Rs.2,940 range till the 16th of the month.
• However, as some volatility brought about by Trump administration gripped the market, gold prices seemed to pick up briefly.
• On the 17th, gold was trading at Rs.2,957 per gram, which then increased to Rs.3,003 per gram on the 18th.
• Demand remained more or less stable for the subsequent days before increasing to bring prices up to Rs.3,029 per gram on the 23rd.
• For the days, starting 24th and ending 28th, gold prices saw some major fluctuations rising and falling multiple times in this period.
• When trading for the month came to an end, gold prices were holding at Rs.3,015 per gram.
• Gold rate in Auranagabad trends fell at a rate of 0.19% for the month of May as US dollar made a comeback.

Trend of gold rate in Aurangabad for June 2017

• June was comparatively the worst period for gold sales in the city.
• Having gained slightly overnight of 30th May, gold opened at Rs.3,011 per gram on the 1st of June.
• Due to there being some increased demand amidst a weak dollar, gold prices hit their highest of Rs.3,080 per gram on the 8th.
• Demand fell after that as gold prices went down to Rs.3,032 per gram by the 10th.
• Gold rate in Aurangabad fluctuated considerably before ending at Rs.2,994 per gram on the 19th - which also happened to be the lowest bullion rate for the month.
• Prices picked up - albeit slightly - on the 21st to bring the precious metal’s rate up to Rs.2,999 per gram.
• Rates didn’t change till the 26th but increased to Rs.3,011 per gram on the 27th.
• From the 27th to the end of the month, gold prices remained unchanged, thanks to some sustained demand in the local circles.
• The month saw gold price trends fall by a further 0.62% - thereby continuing on the trend set by May.

Gold Investment Avenues in Aurangabad

Gold is considered as one of the safest and best investment options in India, and the fact that Aurangabad has a rich history of kings and rulers, the precious metal has greater appeal in these parts. As a matter of fact, gold is used in almost all ceremonies and celebrations, mostly in the form of jewellery, but also in the form of gifts. Following are the main investment avenues for gold in Aurangabad:

Over-the-counter: The best way to purchase gold in Aurangabad is through over-the-counter dealings. The city has a number of dealers, jewellers and banks that offer customers with a variety of options based on the investors’ budgets. Bars, coins and jewellery are the most common forms of gold in the city, and the rates offered by jewellers may vary from location to location.

Market Trade: Investors can now purchase gold from their homes or offices thanks to modern technology. E-gold, futures contracts and ETFs are the best options for gold trading. E-gold can be traded through the National Spot Exchange while ETFs can be bought and sold on the Mumbai Stock Exchange.