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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 9th 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 9th of March, 2016, the price of 22 karat gold in Aurangabad stood at Rs.2,870.
Gold Rate Trend in Aurangabad for July 2017 to September 2017 (per gram of 24 karat gold)
|1st day||Rs.3,055 per gram||Rs.2,988 per gram||Rs.3,045 per gram|
|Last day||Rs.2,988 per gram||Rs.3,045 per gram||Rs.3,127 per gram|
|Highest price||Rs.3,055 per gram on 1 and 2 July||Rs.3,045 per gram from 29-31 August||Rs.3,186 per gram from 9-13 September|
|Lowest price||Rs.2,902 per gram on 10 July||Rs.2,978 per gram on 8 August||Rs.3,045 per gram on 1 September|
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)
|1st day||Rs.3,011 per gram||Rs.3,021 per gram||Rs.3,030 per gram|
|Last day||Rs.3,021 per gram||Rs.3,015 per gram||Rs.3,011 per gram|
|Highest price||Rs.3,096 per gram on 22 & 23 April||Rs.3,029 per gram on 23 May||Rs.3,080 per gram 8 June|
|Lowest price||Rs.3,005 per gram from 5 April||Rs.2,937 per gram from 11 May||Rs.2,994 per gram on 19 & 20 June|
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.
|1st day||Rs.2,884 per gram||Rs.2,985 per gram||Rs.3,054 per gram|
|Last day||Rs.2,985 per gram||Rs.3,054 per gram||Rs.3,011 per gram|
|Highest price||Rs.2,997 per gram from 16th of January to 27th of January||Rs.3,054 per gram from the 24th of February to 28th of February||Rs.3,054 per gram on the 1st and 2nd of March|
|Lowest price||Rs.2,884 per gram on the 1st of January and the 3rd of January||Rs.2,985 per gram on the 1st of February||Rs.2,968 per gram on the 15th of March|
Gold Rate Trend for Aurangabad in January 2016
- On the first day of the new year, gold traded at Rs.2,884 per gram before rising marginally the next day to trade at Rs.2,872 per gram.
- The rate of this precious metal fell the next day before trading at Rs.2,895 per gram on the 4th due to a slight decrease in the value of the U.S.Dollar.
- However, from the 5th of january to the 9th of January, the rate of gold stayed steady due to stable demand for this metal resulting in gold trading at Rs.2,908 per gram.
- The situation was similar from the 12th of January to 15th of January as well wherein gold traded at Rs.2,974 per gram.
- From the 16th to the 27th of January, gold traded at its highest which was Rs.2,997 per gram.
- At the end of the month, the rate of gold was Rs.2,985 per gram, recording an incline of 3.50%.
Gold Rate Trend for Aurangabad in February 2016
- Continuing from the rate noted during the previous month, gold traded at Rs.2,985 per gram on the 1st of February.
- Due to an increase in demand, the rate of gold shot up to Rs.3,014 per gram on the 2nd and stayed steady at this price until the 7th.
- After this due to fluctuating demands, the rate of gold varied between Rs.3,034 per gram and Rs.3,013 per gram until the 15th.
- A marginal decline was noted in gold rate on the 24th before recovering to trade at Rs.3,034 per gram again, on the 17th of February. This rate was noted until the 23rd of February.
- On the last day of the month, gold traded at Rs.3,054 per gram recording an incline of 2.31% in the rate of gold.
Gold Rate Trend for Aurangabad in March 2016
- Gold opened at Rs.3,054 per gram on the first of March in Aurangabad which was a continuation of the rate noted towards the end of February as well.
- However, due to a fall in the demand for this precious metal from jewellers, the rate of gold reduced to Rs.3,026 per gram on the 2nd and stayed steady at this rate until the 6th of March.
- Due to negative market cues and the Dutch Elections, the rate of gold plunged to Rs.2,968 per gram on the 15th of March which was also the lowest at which gold traded at for the month of March.
- However, gold recovered after this to trade at Rs.3,012 per gram the next day until the 22nd of March after which gold traded at Rs.3,035 per gram until the 30th of March.
- At the end of the month, the rate of gold fell to Rs.3,011 per gram recording a decline of 1.40% in the price of gold as the month progressed.
|1st day||Rs.3,249 per gram||Rs.3,168 per gram||Rs.2,938 per gram|
|Last day||Rs.3,168 per gram||Rs.2,975 per gram||Rs.2,884 per gram|
|Highest price||Rs.3,249 per gram on 1st October||Rs.3,247 per gram on 11th December and 12th December||Rs.2,938 per gram from 1st December to 7th December|
|Lowest price||Rs.3,123 per gram from 7th October to 9th October||Rs.2,949 per gram from 25th December to 27th December||Rs.2,810 per gram 22nd December to 26th December|
Gold Rate Trend for Aurangabad in October 2016
- Gold rates vary depending on demand both domestic and international as well as market fluctuations. On the 1st of October, gold traded at a robust Rs.3,249 per gram due to ongoing wedding season, due to which demand for this precious metal was quite high.
- The next day, however, there was a slight decline noted in gold rates although the variation was quite minor.
- As the week progressed, price of gold plunged to Rs.3,123 per gram on the 7th and this rate was sustained until the 9th of October.
- Prices recovered after this marginally to trade at Rs.3,135 per gram on the 10th.
- As the month progressed, there were minor variations seen in gold rates.
- On the last day of October, the price of gold was Rs.3,168 per gram and an overall decline of 2.49% was noted in gold rates.
Gold Rate Trend for Aurangabad in November 2016
- Continuing from the previous month, gold opened at Rs.3,168 per gram on the 1st of November.
- There was a marginal increase noted in the rate of gold the next day to trade at Rs.3,197 per gram and stayed steady until 10th November.
- Gold was priced at Rs.3,247 per gram on the 11th of November which was also the highest rate at which gold was priced at for the month of November.
- This rate could not be sustained however and decreased slightly thereafter.
- There were a few marginal fluctuations noted in gold rates as the month progressed. Gold traded at Rs.2,949 per gram between 25th to 27th and was the lowest at which gold was priced at for the month of November.
- Overall, a decline of 6.09% was noted in gold rates during November.
Gold Rate Trend for Aurangabad in December 2016
- Price of gold was quite low during the entire month of November. Demonetisation and President Trump’s nomination in the United States caused cash crunch and fluctuation of markets.
- Gold traded at Rs.2,938 per gram on the 1st of December and stayed steady until the 7th. This was also the highest rate at which gold traded at for the month of December.
- Gold rate decreased slightly hereafter, fluctuation every week.
- Price of this precious metal declined to an all-time low of Rs.2,810 per gram on the 22nd of December and stayed steady until the 26th.
- An overall decline of 1.83% was noted in the rate of gold in the month of December.
|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 and 2nd September|
Gold Rate Trend of Aurangabad in July 2016
- Gold traded at Rs.3,112 per gram on 1st July.
- Positive trends in the global market led to an increase in demand for gold.
- There were strong expectations of the central banks providing monetary stimulus after the Brexit vote. This gave demand for the yellow metal a good boost.
- Gold rose to Rs.3,249 per gram on 31st July, its highest price for this month.
- There was an increase of 4.40% in gold prices this month.
Gold Rate Trend of Aurangabad in August 2016
- Gold traded at Rs.3,249 per gram at the start of the month.
- Bullish sentiments rocked the global market which sent gold prices up.
- On 18th August, gold traded at Rs.3,283 per gram, the highest for this month.
- Demand for gold took a hit towards the second half of August as expectations of a rate hike by the U.S. Federal Reserve grew stronger.
- Gold rates fell by 0.74% this month.
Gold rate trend of Aurangabad in September 2016
- As the market turned gloomy, gold rates edged lower.
- On 1st September, gold traded at Rs.3,212 per gram.
- Brighter times were in store for the yellow metal as the U.S. Federal Reserve put the interest rate hike on hold till December in light of the upcoming presidential elections.
- Gold regained its safe-haven appeal and investors flocked to buy gold.
- Prices climbed to Rs.3,285 from 23rd September to 26th September.
- There was an increase of 2.08% in gold prices this month.
|1st day||Rs. 2,989 per gram||Rs. 3,154 per gram||Rs.3,038 per gram|
|Last day||Rs. 3,154 per gram||Rs. 3,018 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 of May||Rs.3,015 per gram on 3rd June|
|Trend||Rising||Decline||Increase in price|
|Change||Rs. 165 per gram||Rs. 136 per gram||+2.43% increase|
Gold Rate Trend of Aurangabad in April 2016
- Gold prices were recorded at Rs. 2,989 per gram on the first of April and remained unchanged until the 11th of the month after which they rose to Rs.3,038 and remained constant until the 22nd of the month.
- Prices dropped by Rs.5 to Rs.3,033 on the 23rd of April before remaining stable until the 28th of April.
- Prices then increased consistently on the last two days of the month, and April, as a whole, recorded an increase of Rs.165 over 30 days.
Gold Rate Trend of Aurangabad 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 at Rs.3,155 before declining further to gain stability at Rs. 3,112 until the 15th of the month.
- Gold prices began rising steadily from the 16th to the 24th of May after which point they declined gradually until the last day of the month.
Gold Rate Trend of Aurangabad in June 2016
- Gold prices increased steadily before plateauing due to demand stagnating during the month.
- Demand for gold was steady as the month began but the uncertainty over the British referendum led to prices rising towards the end of the month.
- Markets stabilised as the Dollar strengthened, keeping demand low.
- The British exit from the European Union led to markets falling and gold prices rose, reaching Rs.3,112 per gram.
|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 Aurangabad in January 2016
- Gold traded at Rs. 2,601 per gram on the 1st of January and remained stable for the following three days after which prices started to rise gradually.
- Prices fluctuated over the course of the month and the highest rate of gold in the month of January was recorded on the 27th and 28th when prices rose to Rs. 2,789 per gram.
- 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 Aurangabad in February 2016
- Gold traded at Rs. 2,775 per gram on the 1st of February as there were no changes in demand in addition to lack of international or local events to affect prices.
- Gold prices increased at a steady rate as the month progressed, 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 Aurangabad 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 immediately after a change in rates.
- Gold prices recorded marginal losses at regular intervals of time over the course of the 31 days.
- Although prices remained stable for significant periods of time during March, an overall decline of Rs.82 was recorded between the first and the 31st of March owing to a jeweller strike.
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.
- Also Check: Gold Rate in Maharashtra
Also Check Gold Price in NearBy Cities of Aurangabad
|Gold Rate In Thane||Gold Rate In Nashik||Gold Rate In Solapur||Gold Rate In 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|
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