Gold Rate In Bareilly Today

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Gold Price in Bareilly

An important trading centre and manufacturing hub, the city of Bareilly in the state of Uttar Pradesh is also a major attraction for religious tourism. Being known as the Nath Nagri (or Land of Lord Shiva) and home to Ala Hazrat, the city attracts religious travellers and pilgrims from all over the country. Its primary revenue generation comes not from religious pilgrim tourism, but from the manufacture and trade of cotton, sugar, cereals, and cane furniture. The city is also home to an ancient fortress and is said to the place where Gauthama Buddha once visited.

Gold in Bareilly is no longer being viewed as it was, traditionally, as jewellery, ornaments, and as a status symbol of prosperity. People are starting to view gold as an investment through which to increase their wealth, instead of as just a security to be held until it appreciates.

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

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

Gold rate in Bareilly

The base rate of gold is determined by the balance of various factors – international gold rate trends, purity of the gold (24 karat, 22 karat, 18 karat, etc.), the form in which the gold is being purchased, the date on which the gold is being purchased / sold, etc.

Investing in gold in Bareilly

Traditional over-the-counter purchase / investment: The most trusted way to own gold is to hold in its physical form. The sense of empowerment that comes with owning physical gold has led to many glorious expeditions and conversely, tragic losses. In Bareilly, owning physical gold is a symbol and indicator of prosperity and wealth. Physical gold is mostly held in the form of jewellery for auspicious occasions or marriages, etc. and rarely as bullion or coins in this city. However, gold is being viewed more as an investment than as an ornament or piece of jewellery.

Gold ETFs, E-gold: A change in the traditional mind-set is slowly creeping up on Bareilly, as more and more people are opting to own gold in the electronic form or as ETFs. In this way, people are able to mitigate the risk involved in owning physical gold, and maximise on the potential of earning profits through trading gold smartly during periods of rise and fall in the gold rate. The Mumbai Stock Exchange and National Stock Exchange govern the purchase, sale and trade of gold ETFs and e-gold. Gold futures trading is also catching on as a potentially lucrative field of investments related to gold.