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Gold rates are set to recover in 2016, owing to a host of factors including improving fundamentals and increase in demand for the precious metal has a safe-haven asset among others, according to analysts. From inflation and oil prices to US economic data and quantitative easing, gold rates are affected by a wide range of economic and political developments. India’s current account deficit, inflation, economic outlook and investment inflow also influence the price of Gold across the country. Furthermore, Gold rates vary from city to city in India due to transportation costs, local taxes, procurement and so forth.
Bellary is one of the major commercial hubs in the state of Karnataka. Bellary also known as the city of iron ore is rich is both metallic and non-metallic resources. The precious yellow metal is widely considered a traditional form of investment. In many ways, Gold is viewed as an ancient currency handed down from generation to generation. Also, Gold is used as a collateral to avail of loans to meet financial requirements.
Gold Rate Trend in Bellary for January 2018 to March 2018 (per gram of 24 karat gold)
Rs.3,002 per gram
Rs.2,998 per gram
Rs.2,987 per gram
Rs.3,045 per gram
Rs.3,014 per gram
Rs.3,109 per gram
Rs.3,084 per gram on 20 and 21 January
Rs.3,031 per gram on 19 February
Rs.3,045 per gram from the 25th to the 29th
Rs.3,001 per gram on 4 January
Rs.2,951 per gram on 8 January
Rs.2,977 per gram on the 19th
Gold Rate Trend in Bellary for January 2018:
- When the first month of Q1 2018 began in Bellary, gold was priced at Rs.3,002 per gram.
- Due to a weak demand, brought about by a strong dollar, gold rates dropped to Rs.3,001 per gram on the 4th - the month’s lowest rates.
- From this point on, gold was largely on the incline albeit with quite a few fluctuations recorded in brief spells throughout.
- By the 20th, gold rates in Bellary had surged to Rs.3,084 per gram - the month’s highest rates - as local demand increased amid strong global cues.
- The rise happened due to a poorly performing US dollar, which help investors improve their positions.
- Over the final ten days, gold rates declined steadily as demand eased amid decreased sales and a rising dollar.
- When the month ended, gold prices were recorded at Rs.3,045 per gram.
- A change of 1.43% was recorded this month, thanks to a strong demand from local investors.
Gold Rate Trend in Bellary for February 2018:
- When trading for the month of February began, gold was priced at Rs.2,998 per gram. This rose to Rs.3,019 per gram on the 2nd as demand surged amid a sudden shift in equity markets.
- On the 8th, gold rates in Bellary dropped to Rs.2,951 per gram - the lowest for the month - as local demand plummeted due to poor cues.
- Gold regained its lost ground as the US dollar fell and the metal traded at Rs.3,017 per gram on 15th February.
- As demand rose, gold price in Bellary reached Rs.3,031 per gram - the month’s highest rates. This, however, dropped as demand couldn’t be sustained.
- The next two weeks saw gold prices fluctuate considerably hitting Rs.3,014 per gram on the 20th before falling to Rs.2,993 per gram by the 23rd.
- Gold recovered to trade at Rs.3,008 per gram on 25th and surged slightly to end the month at Rs.3,014 per gram.
- A surge of 0.53% in price trends were recorded this month - thanks to the steady rise seen during the second and third weeks.
Gold Rate Trend in Bellary for March 2018:
- Gold price in Bellary had fallen to Rs.2,987 per gram - a Rs.27 decline - when markets opened for trading for the month of March.
- This was due to subpar demand from the domestic market and the steadily performing US dollar.
- The worst was yet to come for the month - and it did arrive during the fourth week - leading to gold trading at Rs.2,977 per gram on the 19th of this month.
- Rates recorded on the 19th was the lowest for the month, but this changed soon as demand rose the next week.
- Gold traded at a monthly high figure of Rs.3,045 per gram from the 25th to the 29th as the US dollar underwent some turbulent times.
- The month ended with gold rate in Bellary falling to Rs.3,019 per gram.
Gold Rate Trend in Bellary for October 2017 to December 2017 (per gram of 24 karat gold)
|1st day||Rs.2,985 per gram||Rs.2,942 per gram||Rs.2,932 per gram|
|Last day||Rs.2,942 per gram||Rs.2,947 per gram||Rs.2,941 per gram|
|Highest price||Rs.2,995 per gram on 16 October||Rs.2,981 per gram on 20 November||Rs.2,942 per gram on 2, 3 and 4 December|
|Lowest price||Rs.2,932 per gram 27 October||Rs.2,907 per gram on 6 November||Rs.2,861 per gram on 16, 17 and 18 December|
Gold Rate Trend in Bellary for October 2017:
- The final quarter of 2017 began in Bellary with gold trading at Rs.2,985 per gram. Gold prices would see considerable decline this month owing to poor local cues which was affected by a strong dollar.
- There were considerable fluctuations to be witnessed during the initial half of the month, with demand remaining uncharacteristically low despite the onset of a major festive season.
- Gold rates in Bellary were at their highest on the 16th when it traded at Rs.2,995 per gram as traders took advantage of a brief fall in the dollar.
- However, prices continued to dwindle from the 17th as demand remained mostly flat and even fell as days progressed.
- Gold prices were at their lowest this month on the 27th when the metal traded at Rs.2,932 per gram.
- Price trend saw a considerable decline this month with rates falling at a rate of 1.90% due to poor sales.
Gold Rate Trend in Bellary for November 2017:
- November’s gold trading took a positive turn as global cues was steady and the US dollar losing its lustre.
- On the 1st of November, gold was priced at Rs.2,942 per gram. The first week saw gold demand at its lowest for this month, which was seen as gold traded at a monthly low figure of Rs.2,907 per gram on the 7th.
- But, once the US dollar began to weaken amid a poor market, gold prices continued its gradual surge.
- The 20th saw gold prices in Bellary hitting Rs.2,981 per gram figure - the highest rate for the entire month.
- But, there were fluctuations from the 21st onwards as there was no clear indication of a stable demand.
- When November came to an end gold was seen trading at Rs.2,947 per gram - a marginal high of Rs.5 from the prices seen on the 1st of the month.
Gold Rate Trend in Bellary for December 2017:
- December began in Bellary with gold trading at Rs.2,932 per gram.
- The 2nd and 3rd recorded the highest gold rates - with the metal trading at Rs.2,942 per gram - as demand was steady.
- However, demand was strongly swung by the tax reform introduced by US president Donald Trump, which caused the dollar to strengthen subsequently pushing gold rates down.
- Gold rates in Bellary went down to as low as Rs.2,896 per gram as the rallying of the US dollar continued, which caused gold demand to plummet.
- On the 13th, gold rates were at their lowest for the month. The metal traded at Rs.2,859 per gram as markets remained strong, which gave little incentive for bullion investors.
- Prices rallied as other concerns regarding Trump’s US presidency resurfaced. This, combined with a declining dollar led to consistent increase in gold prices.
- Price trend saw a 0.30% decline this month, thanks to a solid start to the given by strong investor sentiments.
Gold Rate Trend in Bellary for July 2017 to September 2017 (per gram of 24 karat gold)
|1st day||Rs.2,950 per gram||Rs.2,878 per gram||Rs.2956 per gram|
|Last day||Rs.2,874 per gram||Rs.2,956 per gram||Rs.2,985 per gram|
|Highest price||Rs.2,950 per gram on 1 and 2 July||Rs.2,976 per gram on 29 August||Rs.3,056 per gram on 8 September|
|Lowest price||Rs.2,796 per gram on 14 July||Rs.2,845 per gram on 7 August||Rs.2,956 per gram on 1 September|
Gold rate trend in Bellary for July 2017
- When trading commenced in Bellary, gold was priced at Rs.2,950 per gram on the 1st of July.
- The implementation of GST had little effect on the local trade. However, the following days witnessed demand for the metal dropping significantly, and gold was trading at Rs.2,880 per gram on the 8th.
- Volatile markets coupled with fluctuating bullion demand resulted in the yellow metal trading at Rs.2,796 per gram - the lowest monthly figure - on the 14th of July.
- An ugly stand-off between the US and North Korea resulted in safe-haven investments increasing globally. This led to gold rates rising to Rs.2,830 per gram on the 18th.
- In addition, demand for the metal rose against the poorly performing US dollar, pushing prices up to Rs.2,866 per gram on the 22nd.
- However, a decline in demand from domestic investors resulted in rates falling to Rs.2,850 per gram on the 26th.
- But, demand for the yellow metal soon picked up with the US-North Korean aggression escalating. This resulted in gold prices rising to Rs.2,874 per gram the next day.
- Bellary witnessed gold trading at Rs.3,872 per gram on the 31st, owing to stable domestic demand from investors and jewellers.
Gold rate trend in Bellary for August 2017
- Gold opened relatively higher at Rs.2,878 per gram on the 1st, from the price on the previous month.
- Prices dipped to Rs.2,854 per gram on the 3rd as investors refrained from making purchases awaiting the US Federal Reserve meeting results.
- On account of Varamahalakshmi, local demand surged for the precious metal and gold was trading at Rs.2,865 per gram on the 4th. However, the next day witnessed demand declining significantly resulting in prices falling to Rs.2,855 per gram.
- The US-North Korean conflicts sent global markets crashing. This led to safe-haven investments rising worldwide, pushing gold rates up to Rs.2,922 per gram on the 11th.
- The possibility of a new Fed rate hike coupled with a recovering dollar proved to be unfavourable for the bullion trade. This resulted in gold rates dropping to Rs.2,913 per gram on the 18th.
- The overseas relations between North Korea and the US worsened, forcing investors to gravitate towards safe-haven assets like gold. This led to gold prices in Bellary touch the highest recorded monthly figure of Rs.2,976 per gram on the 29th.
- The month ended with the yellow metal trading at Rs.2,956 per gram, thanks to steady demand from local investors and retail jewellers.
Gold rate trend in Bellary for September 2017
- The yellow metal was trading at Rs.2,956 per gram, when gold trade commenced for the month in Bellary.
- Gold prices surged to touch the highest recorded monthly figure of Rs.3,056 per gram on the 8th as safe-haven investments witnessed a rise with North Korea’s confirmation on its successful nuclear weapon test.
- Investors around the world leant on safe-haven assets like gold as relations worsened between the US and North Korea, resulting in the precious metal trading at Rs.3,010 per gram on the 13th.
- The rising dollar value resulted in reduced demand for the metal. This led to gold rates falling to Rs.2,971 per gram on the 19th.
- Over the next few days, prices fluctuated with varying bullion demand, and gold was priced at Rs.2,980 per gram on the 23rd.
- The arrival of Dussehra pushed the festive demand higher in the local trade, resulting in gold rates rising to Rs.3,029 per gram on the 26th.
- However, the recovery of the US economy and a strong dollar value resulted in declining global demand for the yellow metal, and gold was trading at Rs.2,985 per gram when the month ended.
Gold Rate Trend in Bellary for April 2017 to June 2017 (per gram of 24 karat gold)
|1st day||Rs.2,910 per gram||Rs.2,945 per gram||Rs.2,933 per gram|
|Last day||Rs.2,945 per gram||Rs.2,918 per gram||Rs.2,920 per gram|
|Highest price||Rs.2,990 per gram on 15 and 16 April||Rs.2,945 per gram on 1 May||Rs.2,965 per gram on 8 June|
|Lowest price||Rs.2,905 per gram per gram on 10 April||Rs.2,840 per gram from 11-14 May||Rs.2,895 per gram on 20 June|
Trend of gold rate in Bellary for April 2017
- When gold trading in Bellary for the second quarter of 2017, prices were recorded at Rs.2,910 per gram.
- As demand from local jewellers went up, gold prices went up to Rs.2,930 per gram on the 4th despite holding at Rs.2,910 per gram for the previous three days.
- Rates, however, fell to Rs.2,915 per gram as demand took a hit.
- Gold price in Bellary further went down to Rs.2,905 per gram on the 10th - the lowest gold rate for the month.
- The fall was curtailed by an increase over the next couple days as gold prices went up to Rs.2,990 per gram on the 15th.
- During the next two weeks, gold price fluctuated considerably with there being plenty of increase and decrease in trading rates.
- When April came to an end, gold prices were holding at Rs.2,945 per gram.
- Also, gold price in Bellary trend saw a positive change as there was an incline of 1.20% compared to March’s prices.
Trend of Gold Rate in Bellary for May 2017
- The month of May was rather negative with regard to gold trading in Bellary.
- When the month began, gold was priced at Rs.2,945 per gram. But as demand dropped prices went down by Rs.40 on the 2nd for the metal to trade at Rs.2,905 per gram.
- Bullion rates fell as demand dropped further to go down to Rs.2,855 per gram on the 10th and then to Rs.2,840 per gram on the 11th - the month’s lowest gold rate.
- As US dollar value seemed to fall, gold prices picked up over the next few days.
- Despite some fall, gold prices rose to Rs.2,908 per gram by the end of the 20th.
- On the 22nd, gold was trading at Rs.2,905 per gram but rocketed to Rs.2,930 per gram on the 23rd.
- Gold Rate in Bellary fell slightly over the next few days to end the month’s trading price at Rs.2,918 per gram.
- There was a price decline of 0.91% for this month as international and local demand were comparatively low.
Trend of Gold Rate in Bellary for June 2017
- When gold trading for June began, gold was priced at Rs.2,933 per gram but as demand went down prices dropped to Rs.2,915 per gram on the 2nd.
- The 3rd, however, saw prices increase to Rs.2,940 per gram and continue on an encouraging note for the next few days.
- Gold rate in Bellary had increased to Rs.2,965 per gram by 8th - which consequently happened to be the highest gold price for the month..
- From the 9th to the 20th, gold rates fell gradually due to sub par demands from key sections of the society.
- On the 20th, gold prices were recorded at Rs.2,895 per gram - which happened to be the lowest trading rate for the month.
- However, prices stabilised over the last 10 days of June and even hit Rs.2,960 per gram on the 28th.
- As the sudden spike was a one-off instance, prices dropped back to Rs.2,920 per gram on the 29th and continued at the same rate on the 30th.
- Despite some increases over the latter half of the month, price trends saw a decline of 0.44% during this month.
|1st day||Rs.2,820 per gram||Rs.2,945 per gram||Rs.3,005 per gram|
|Last day||Rs.2,930 per gram||Rs.3,005 per gram||Rs.2,900 per gram|
|Highest price||Rs.2,970 per gram on 23rd & 24th January||Rs.3,005 per gram from 27th and 28th February||Rs.3,005 per gram on 1st of March|
|Lowest price||Rs.2,820 per gram on 1st & 2nd January||Rs.2,945 per gram on 1st February||Rs.2,855 per gram on 15th of March|
Gold Rate Trend for Bellary in January 2017:
- In January, gold was trading at Rs.2,820 per gram, which increased over the next few days as demand increased
- Gold rate in Bellary reached their highest during the 4th week i.e., the 23rd and 24th of January when they reached Rs.2,970 per gram.
- Rate trends were so good that prices on the 1st were the lowest for the entire month.
- Price trends increase by 3.90% for the month of January as bullion industry seemed to recover from the impact of demonetisation.
Gold Rate Trend for Bellary in February 2017:
- Like January 2017, February also saw gold prices maintain their positive trend, albeit at a much lower level.
- During February, gold prices saw some ups and downs, most of which came within the 11th and the 20th, which was when business seemed to slow down.
- Gold rates hit their highest towards the end of the month, on 27th and 28th, when they were trading at Rs.3,005 per gram.
- Despite plenty of fluctuations during the month, gold rates seemed to consolidate towards the end of the month.
- Gold rates inflated at a rate of 2.03% during the month of February.
Gold Rate Trend for Bellary in March 2017:
- After a slightly less productive month in February, gold prices seemed to bounce back during the month of March.
- This is when demand seemed to increase, owing to a number of decisions taken by US President Donald Trump.
- With Donald Trump exercising more of his power, market seemed to hit their volatile best on a constant basis.
- Despite seeing a productive month in terms of price trends, gold prices didn’t really hit a high point after the 1st when the metal was trading at Rs.3,005 per gram.
- Price trends in Bellary saw an incline to the tune of 3.49% for the month of March.
- Overall, gold price trends saw an average incline of 3.14% during the first quarter of 2017.
|1st day||Rs.3,160 per gram||Rs.3,060 per gram||Rs.2,905 per gram|
|Last day||Rs.3,060 per gram||Rs.2,930 per gram||Rs.2,820 per gram|
|Highest price||Rs.3,160 per gram on 1st October||Rs.3,180 per gram on 9th November||Rs.2,905 per gram on 1st December|
|Lowest price||Rs.3,023 per gram on 17th October||Rs.2,931 per gram on 24th November||Rs.2,765 per gram on 16th December, 22nd December and 23rd December|
Gold Rate Trend for Bellary in October 2016
- Demand and market conditions in India and abroad determines the rate of gold. Higher the demand, higher is the rate. This precious metal also determines the currency value. Due to ongoing wedding season, gold traded at a healthy Rs.3,160 per gram on the 1st of October due to which demand for this precious metal was quite high.
- Price of gold was steady at this rate for the next two days as well but a slight decline in gold rates was seen.
- Few fluctuations were seen in the rate of gold as the month progressed. Gold rate varied between Rs.3,020 per gram and Rs.3,030 per gram until November the 13th..
- On 17th of October, price of gold was Rs.3,016 per gram which was also the lowest at which gold traded for the month. Price of gold improved slightly after this.
- On the final day of the week, gold was priced at Rs. 3,060 per gram and an overall decline of 3.16% was noted in gold rates.
Gold Rate Trend for Bellary in November 2016
- Gold traded at Rs.3,060 per gram on the 1st of November.
- There was a slight increase noted in the rate of gold on November 2nd to trade at Rs.3,095 per gram. Gold rate shot up to Rs.3,115 per gram on the next day which was one the highest for the week. However, as the week progressed, the price of gold shot up to Rs.3,120 per gram on the 5th of November and 6th of November.
- This rate however could not be sustained however and decreased the next day itself.
- On the 9th of November however, gold rate was Rs.3,180 per gram which was also the highest rate at which gold was priced at for this month.
- However, this rate could also not be maintained and started decreasing the next day itself and continued reducing thereafter.
- Prime Minister Narendra Modi’s demonetization policy resulted in a cash crunch, denting the demand for gold. However, external market factors prevented from gold rates from completely reducing.
- Towards the third week of November, price of gold fluctuated between Rs.3,010 per gram and Rs.2,985 per gram.
- On 24th November, gold rate plunged to Rs.2,931 per gram which was the lowest price of gold for the entire month of November.
- There were a few marginal fluctuations noted in gold rates as the month progressed.
- Overall, a decline of 4.24% was noted in gold rates during November with respect to the rate of gold.
Gold Rate Trend for Bellary in December 2016
- Gold traded of Rs.2,905 per gram for 24 karat gold on the 1st of December. This was also the highest rate at which gold traded for the month of December.
- Price of gold was relatively low as compared to November. Demonetisation and President Trump’s nomination in the United States resulted in a cash crunch and market fluctuations respectively.
- This rate however, was not sustained and rate of gold reduced slightly the next day before increasing again, although not as high as seen on the 1st of the month.
- Variations in gold rate was noted throughout the month.
- During the second week of December, the gold rate was Rs.2,825 per gram until the 14th of December after which prices reduced once again.
- Towards the end of December, rate of gold varied between Rs.2,780 per gram to Rs.2,820 per gram noted on the final day of this month.
- An overall decline of 2.92% was noted in the rate of gold in this month.
|1st day||Rs.3,130 per gram||Rs.3,190 per gram||Rs.3,125 per gram|
|Last day||Rs.3,170 per gram||Rs.3,140 per gram||Rs.3,160 per gram|
|Highest price||Rs.3,205 per gram on 7th July||Rs.3,225 per gram on 3rd August||Rs.3190 from 25th September to 29th September|
|Lowest price||Rs.3,130 per gram on 1st July||Rs.3,140 per gram on 31st August||Rs.3,115 on 2nd September|
Gold Rate Trend of Bellary in July 2016
- The month of July started with gold trading at Rs.3,130 per gram.
- Gold prices edged higher this week as trends in the global market turned positive.
- Expectations of monetary stimulus from the central banks in the wake of the Brexit vote were high.
- Gold prices reached their highest on 7th July, trading at Rs.3,205 per gram.
- By the end of the month, prospects of a Fed rate hike sprung up again.
- Gold traded at Rs.3,170 per gram at the end of the month marking an incline of 1.28% this month.
Gold Rate Trend of Bellary in August 2016
- On 1st August, gold traded at Rs.3,190 per gram.
- Gold prices climbed to Rs.3,225 per gram on 3rd August, the highest price for this month.
- The U.S. Federal Reserve raised expectations of an interest rate hike in light of strong economic data.
- Gold prices started to drop on account of low demand and a gloomy global market.
- By the end of the month, there was a decline of 1.57% in gold prices.
Gold rate trend of Bellary in September 2016
- Gold traded at Rs.3,125 per gram on 1st September.
- The lowest price for this month was recorded on 2nd September with gold trading at Rs.3,115 per gram.
- The global market turned bullish as the Federal Reserve put the interest rate hike on hold in light of the approaching U.S. presidential elections.
- Gold prices rose by 1.12% on account of high demand in the global and domestic market.
|1st day||Rs. 2, 905 per gram||Rs. 3,070 per gram||Rs.2,895 per gram|
|Last day||Rs. 3, 070 per gram||Rs. 2, 895 per gram||Rs.3,130 per gram|
|Highest price||Rs. 3, 070 per gram||Rs. 3, 080 per gram from 7th-8th May, 2016||Rs.3,200 per gram on 24th June|
|Lowest price||Rs. 2, 880 per gram||Rs. 2, 895 per gram from 30th -31st May, 2016||Rs.2,915 per gram on 1st June|
|Trend||Prices rose after a lull, stabilising over the month||Prices fell||Rising|
|change||+ 5.67% increase||-5.70% decrease||+9.78%|
Gold Rate Trend in Bellary in April 2016
- With the commencement of operations after the strike was called off, prices rose on renewed domestic demand.
- Gold prices globally fell on the news that the Fed could be raising interest rates.
- The US Dollar strengthened on the interest rate hike, resulting in gold rates dropping.
- Domestic demand managed to keep prices stable in spite of the global downslide in prices.
Gold Rate Trend in Bellary in May 2016
- Gold was being traded at Rs. 3, 070 at the start of the month, boosted by high demand.
- The market fluctuations due to US Fed interest rates being hiked pushed global prices lower, but the rate was steady domestically.
- Stable demand continued, keeping prices constant in the third week of May.
- A decrease in demand lowered prices, with gold trading at Rs. 2, 895, a decrease of 5.70%.
Gold Rate Trend of Bellary in June 2016
- Gold rates increased steadily during the month of June thanks to stronger overseas trends amid increased offtake by industrial investors.
- Despite marginal losses on certain days, the value of the precious metal rose consistently as the month progresses, and the highest rate was recorded on the 24th of the month when prices soared to Rs.3,200 per gram.
- The overall increase in prices between the first and last day of the month was Rs.235.
|1st day||Rs. 2, 540 per gram||Rs. 2, 960 per gram||Rs. 2, 975 per gram|
|Last day||Rs. 2, 710 per gram||Rs. 2, 708 per gram||Rs. 2, 900 per gram|
|Highest price||Rs. 2, 715 per gram||Rs. 2, 965 per gram||Rs. 2, 975 per gram|
|Lowest price||Rs. 2, 540 per gram||Rs. 2, 708 per gram||Rs. 2, 870 per gram|
|Trend||Steady increase in gold price due to increased demand||Prices fell mid-month, then stabilized||Prices rose and then stabilised over the course of the month|
|Change||6.69% increase||9.30% increase||2.52% decrease|
Gold Rate Trend in Bellary in January 2016
- Gold traded at Rs. 2, 540 at the start of the month thanks to increased demand domestically, closing at Rs. 2, 710.
- Festive season buying drove up the price, with high demand from jewellers.
- International cues bolstered the price.
- A dip in prices was seen due to global demand falling, but prices rose soon after.
Gold Rate Trend in Bellary in February 2016
- Increased demand from jewellers domestically boosted prices, with gold trading at Rs. 2, 960 at the start of the month.
- Prices peaked at Rs. 2, 965 due to strong international demand and a still weak Dollar.
- Wedding season demand continued to push up prices as demand was steady throughout the month.
- A gradually strengthening Rupee lowered prices fractionally towards the end of the month.
Gold Rate Trend in Bellary in March 2016
- Gold prices were traded at Rs. 2, 975, taking its cue from a heightened demand globally.
- National strike by jewellers resulted in production being halted indefinitely, affecting demand.
- Prices fell fractionally due to the strike, resulting in a 2.552% decrease in the gold rate.
- The strike reduced demand from the jewellery sector, keeping prices stable and constant.
- A weakening Dollar and market uncertainty resulted in prices rising globally, but domestic rates were unaffected due to the strike curtailing operations.
Gold as an investment in Bellary
Gold is all forms - coins, bars and jewelry is sold in Bellary. Many in Bellary invest in Gold bars as protection against inflation. Festive occasions and weddings spur demand for Gold in Bellary. Gold is considered auspicious and various forms of temple jewelery is also popular.
Physical Gold: Jewelry remains the most dominant aspect of buying Gold in Bellary. Major jewellery stores in Bellary sell both traditional and designer Gold jewelry to cater to all kinds of customers. Bullion bars are sought-after by customers who wish to buy Gold for investment purposes.
Gold contracts: Consumers in Bellary also invest in gold contracts. The MCX (Multi Commodity Exchange) and NSEL (National Spot Exchange) sell spot and future gold contracts in India.
Gold rates in Bellary
Gold rates have been on the rise in the first two months of 2016 in Bellary. 1 gm of 24 karat gold which was pegged at Rs.2551 on December 27th, 2015, rose by 2.3% to Rs.2610 on January 1st, 2016. Gold rates rose further throughout the month of January with the price of 1 gm of 24 karat gold pegged at Rs.2679 on January 10th, Rs.2701 on January 19th and Rs.2717 on January 25th. The upward trend continued in the month of February as the price of 1 gm of 24 karat gold pegged at Rs.2759 on February 17th, rose by 6.9% to Rs.2866 on February 18th. The trend continued in the first week of March with 1 gm of 24 karat gold touching Rs.3032. Gold prices plummeted in latter half of 2015 barring mini-rallies in that 1 gm of 24 karat gold which was pegged at Rs.2723 in August, fell by -0.2% to Rs.2702 in September 2015. The downward trend continued in the following months with the price of 1 gm of 24 karat gold touching Rs.2560 in November 2015.
- Also Check: Gold Rate in Karnataka
Also Check Gold Price in NearBy Cities of Bellary
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|Gold Rate In Belgaum||Gold Rate In Proddatur|
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