Gold Rate In Bhilai

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Gold price in Bhilai

Located in eastern central India in the state of Chhattisgarh, Bhilai is just 32 kilometres away from Raipur, the capital of the state. Known for the Bhilai Steel Plant, the city is also home to a good number of gold investors. A large number of residents treat gold as an auspicious possession and use it on a daily basis as well as during ceremonies and celebrations. Gold is also considered one of the best gifts that people can give their near and dear ones during festivals and weddings and other ceremonies.

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

Gold Rate Trend in Bhilai for January 2018:

• The month of January began with gold trading at Rs.3,010 per gram. Due to poor demand gold started at a significant low this month.
• Rates continued to remain at Rs.3,010 per gram till the 3rd. This was the lowest gold rate for the month in the city.
• Towards the final two weeks, gold rate in Bhilai recorded slight surges aided by a poor US dollar performance.
• During the 24th and the 25th, gold prices in Bhilai rose up to Rs.3,120 per gram - the highest for the month.
• However, as the month wore on, prices dropped to Rs.3,066 per gram. A 1.19% positive change in gold prices was recorded this month owing to poor swings in the US dollar rate.

Gold Rate Trend in Bhilai for February 2018:

• Equity markets seemed to perform on a low, which caused gold to continue on its upward trend seen in January.
• On the 1st of February, gold in Bhilai was priced at Rs.3,077 per gram. A rather strong note compared to the previous month.
• There was a gradual dip in prices over the first two weeks, however, because the US dollar seemed to strengthen against a host of currencies and pushed demand down.
• Gold rates in Bhilai went down to a monthly low figure of 3,035 per gram on the 9th as demand was significantly poor.
• Demand, however, picked up as local demand surged towards the end of the second week amid the wedding season.
• Gold traded at Rs.3,161 er gram on the 16th of February - the month’s highest rate as local investors kept purchasing the yellow metal.
• The third and the fourth week saw prices fluctuate as demand subsided and the US dollar reigned supreme and pushed gold prices down.
• February drew to a close with gold trading at Rs.3,129 per gram and a 1.68% hike in prices was recorded over the course the month.

Gold Rate Trend in Bhilai for March 2018:

• When March began in Bhilai, gold was priced at Rs.3,113 per gram. During the second week, gold demand increased owing to dwindling dollar, and rates went up to as high as Rs.3,134 per gram.
• However, demand subsided after the slightly busy period and, as a result, rates fell. The yellow metal traded at monthly low rates of Rs.3,098 per gram over the 18th and 19th of the month.
• This didn’t last long though, as gold bounced back within less than a week to record its highest rate of Rs.3,171 per gram on the 25th and the 26th.
• The month drew to a close with gold prices in Bhilai consolidating down to Rs.3,134 per gram.
• Gold rate in Bhilai trends trends rose by 0.67%, thanks to a strong local demand and a slightly weaker US dollar.

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

Gold Rate Trend in Bhilai for October 2017:

• In Bhilai, the city from Haryana - gold was priced at Rs.3,063 per gram when trading commenced for October.
• Gold rate in Bhilai decline this month because local demand was comparatively weak and the US dollar index continued to remain strong against other currencies.
• The yellow metal was trading at its highest from the 12th to the 16th at Rs.3,072 per gram - thanks to a sudden rise in overseas demand amid a poor dollar.
• Due to the dollar bouncing back, gold demand continued to weaken towards the second half of October 2017.
• In fact, gold rate in Bhilai were at their lowest towards the final 4 four days of this month - when it was expected to be on the high owing to the festive season.
• An uncharacteristically low festive demand, though, pushed gold price in Bhilai down to Rs.3,026 per gram.
• There was a 1.20% decline in gold prices recorded over the course of this month.

Gold Rate Trend in Bhilai for November 2017:

• The month of November saw gold prices record a positive growth, thanks to uncertainty over the US economy.
• On the 1st of November, gold was priced at Rs.3,006 per gram - which then dropped to monthly low figure of Rs.3,005 per gram on the 6th.
• Prices begun to improve from the second week onwards as demand fluctuated considerably as a combination of factors, involving the Fed rate hike, rising and falling overseas demand, and local festive demand all contributed to upheaval in prices.
• Gold traded at its highest prices for this month from the 18th to the 20th when it traded at Rs.3,060 per gram.
• The final 10 days of this month saw gold rate in Bhilai consolidate as demand continued to decline.
• At the time of closing on the 30th of November, gold was priced at Rs.3,026 per gram.
• A 0.66% change in price trends were recorded this month, thanks to positive change in demand and sales.

Gold Rate Trend in Bhilai for December 2017:

• The last month of Q4 2017 opened on a relatively glib note, with the yellow metal trading at Rs.3,016 per gram.
• Gold price in Bhilai rose to Rs.3,036 per gram as the US President Donald Trump was expected to present his tax restructuring, which caused safe-haven demand to increase.
• The rate of Rs.3,036 per gram seen from the 2nd to the 4th was the highest for the month.
• However, once the negative feedback subsided, the market began to react positively to the changes, which pushed the dollar prices up.
• A rising dollar spelled doom to gold sales and prices fell to Rs.2,940 per gram on the 11th as demand tumbled.
• After this significant fall, gold prices rallied picking up on strong global cues to end 2017 on a respectable note.
• The final day of 2017 saw gold trade at Rs.3,020 per gram. Overall, there was a 0.13% incline in gold prices, thanks to a declining dollar.

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

Gold rate trend in Bhilai for July 2017

• Gold was trading at Rs.2,950 per gram on the 1st with steady industrial demand.
• Prices dipped to Rs.2,914 per gram on the 4th as local demand declined with the implementation of GST.
• Markets rallied as the US dollar surged on American Independence Day, resulting in gold prices dropping to Rs.2,908 per gram.
• The release of a positive US employment data resulted in gold prices crashing to Rs.2,824 per gram on the 11th, which further plunged to Rs.2,800 per gram on the 14th as local demand for the precious metal was muted.
• With geopolitical tensions rising in the Korean peninsula, the US economy began to collapse, leading to gold prices rising to Rs.2,822 per gram on the 17th.
• Demand for the metal increased in the Asian markets as the dollar rate fluctuated. This led to gold trading firm at Rs.2,917 per gram on the 22nd.
• However, the possibility of a Fed rate hike led to the US dollar rebounding, and gold rates in Bhilai dropped to Rs.2,899 per gram on the 26th with reduced local demand.
• Gold rates in Bhilai fluctuated over the next few days, and was recorded trading at Rs.2,920 per gram on the 31st.

Gold rate trend in Bhilai for August 2017

• When trading commenced for the month of August, the yellow metal was trading at Rs.931 per gram.
• Demand for the metal was muted due to poor global cues, and the bullion touched a low monthly figure of Rs.2,900 per gram on the 5th.
• Gold rates in Bhilai surged to Rs.2,975 per gram on the 11th as the North Korean government threatened the US with a nuclear war, pushing safe-haven investments higher.
• However, demand for the precious metal dropped with the US dollar strengthening over the next few days. This led to gold rates plunging to Rs.2,951 per gram on the 15th.
• The continued aggression in the Korean peninsula pushed gold prices up to Rs.2,967 per gram on the 25th after North Korea threatened with nuclear tests.
• Gold price in Bhilai rose to Rs.2,980 per gram on the 29th as a result of increased buying from retail jewellers and investors around the world.
• Gold rate in Bhilai dropped over the next two days to Rs.2,965 per gram due to reduced local demand for the metal.

Gold rate trend in Bhilai for September 2017

• Gold opened trading at Rs.2,995 per gram, when the month began in Bhilai.
• News about North Korea’s two-stage thermonuclear test broke out, pushing safe-haven investments higher. This resulted in gold prices rising to Rs.3,088 per gram on the 6th.
• North Korea’s confirmation on their successful nuclear weapon tests sent world markets crashing. This resulted in investors around the world gravitating towards safe-haven investments like gold, simultaneously pushing prices up to Rs.3,100 per gram on the 8th.
• The recovering economy coupled with a rising dollar proved to be unfavourable as overseas demand declined significantly. This led to gold rates dropping to Rs.3,050 per gram on the 14th.
• Prices dropped further on the 19th to Rs.3,023 per gram as investors and retailers suspended purchases with the rise of the US dollar.
• Volatile markets resulted in varying demand over the next few days. However, demand surged with the arrival of the festive season and gold was trading at Rs.3,081 per gram on the 26th.
• The rest of the month witnessed prices declining against a strong US dollar, and the yellow metal was trading at Rs.3,040 per gram on the 30th.

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

Trend of Gold Rate in Bhilai for April 2017

• When gold trading began on the 1st of April, the metal was priced at Rs.2,956 per gram.
• Due to an increase in demand, rates went up to Rs.2,962 per gram on the 3rd and then to Rs.2,977 per gram.
• Prices increased for the next few days but dropped towards the end of the first week as local jewellers refrained from buying more gold.
• By the 8th, gold prices were down to Rs.2,954 per gram.
• Rates fluctuated for the next few days before reaching Rs.3,040 per gram on the 15th - the highest gold price for the month.
• However, as demand fell, gold prices dropped to go down to Rs.3,031 per gram by the 19th.
• The last few days of the month saw prices fluctuate considerably but increase towards the end of the month to close at Rs.2,984 per gram.
• Overall, gold prices inclined at a rate of 0.94% for the month.

Trend of Gold Rate in Bhilai for May 2017

• The month of May in Bhilai began with gold trading at Rs.2,984 per gram.
• But, as demand went down owing to lack of purchases from local jewellers, prices fell by Rs.2,955 per gram - a Rs.29 drop.
• On 4th, prices dropped significantly as it went from Rs.2,950 per gram to Rs.2,922 per gram as demand showed no signs of picking up.
• Rates decreased consistently due to low an increase in US dollar value and went down to Rs.2,903 per gram by the 9th.
• Gold trading was weak till the 15th but picked up significantly on the 16th and then the 17th to end the day at Rs.2,956 per gram.
• Trading remained stable for the next few days before surging to Rs.2,979 per gram on the 22nd.
• However, as there were some fluctuations in demand, prices remained on the weaker side over the last week of the month.
• On the final day of May, gold prices were recorded at Rs.2,963 per gram.
• Despite some positive gains in the latter half of the month, gold price trends saw a decline of 0.70% for the month.

Gold Rate Trend in Bhilai for June 2017

• Following the news about the implementation of Goods and Services Tax (GST), June began on a cautious note.
• On 1st June, bullion was priced at Rs.2,985 per gram but slid down to Rs.2,964 per gram on the 2nd.
• However, some positive sales figures brought prices up to Rs.2,994 per gram on the 3rd, which then went up to Rs.3,017 per gram by the end of the 8th.
• As demand went down, gold rates went down to Rs.2,987 per gram on the 9th and continued a downward trend for the corresponding 10 days.
• From Rs.2,981 per gram on the 11th, gold prices gradually fell to Rs.2,949 per gram by the end of the 19th.
• The price drop could be attributed to a strong US dollar and a consequent fall in demand in Asian markets.
• Prices stabilised towards the end of June to end at Rs.2,967 per gram.
• Gold prices in Bhilai declined at a rate of 0.33% for the month of June.

Gold Rate in Bhilai

The rates of gold in Bhilai may differ from jeweller to jeweller depending upon the purity of the precious metal. 24 karat gold is the most expensive form of gold and its level of purity stands at 99.9%.

24 karat gold – Since 24 karat gold is 99.9% pure, it is not only the most expensive form of gold, but is also a great investment option. But the problem with 24 karat gold is that it is produced in a manner such that it is almost impossible to reuse it for the production of ornaments and jewellery, which is why the number of people who invest in it is not as high as it could be. The price of one gram of 24 karat gold in Bhilai is Rs.2,999 as on the 9^th of March, 2016. This price is based on global trends over the past one year, which saw the value of gold reduce during the second half of 2015 and increase steadily in the first few months of 2016.

22 karat gold – 22 karat gold is only 92% pure in comparison with the 99.9% purity of 24 karat gold. However, the number of people who invest in 22 karat gold is significantly higher in comparison with the number of people who invest in 24 karat gold. The reason for this is that 22 karat gold is primarily sold in the form of jewellery and even if it is not, it can be reused to produce ornaments and jewellery, making it a popular choice among the residents of Bhilai. As on the 9^th of March, 2016, the price of one gram of 22 karat gold in Bhilai stood at Rs.2,817.

Gold Investment Avenues in Bhilai

Gold is looked upon as a great investment option as it is not only safe but also because it offers high liquidity. The precious metal has great appeal in the city of Bhilai as people tend to use it during weddings and festivals, thus driving up prices during these times. Gold is also used a great gifting option in the city as people offer the precious metal to their near and dear ones during festive occasions and other sacred ceremonies. Following are the best investment avenues for those who would like to trade gold in Bhilai:

Over-the-counter: Over-the-counter dealings are the best way to purchase gold in Bhilai. The rates and prices offered by jewellers may vary based on the location in the city, but the difference is relatively small and a certificate is awarded upon the purchase of the precious metal. The most common forms of gold purchased by residents of Bhilai are bars, coins and jewellery, and the city is home to a number of jewellers and traders from whom the yellow metal can be purchased.

Market Trade: Thanks to modern technology, gold can now be purchased by investors from the comfort of their homes or offices. E-gold, ETFs and futures contracts are the best options for investment through market trade. While E-gold can be bought and sold through the National Spot Exchange, ETFs can be traded on the Mumbai Stock Exchange.

Also Check Gold Price in NearBy Cities of Bhilai