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Gold Rate in Bhopal
Bhopal is the capital of the state of Madhya Pradesh, and is also known as the city of lakes. The city is split by a pair of lakes and both the North and South side have two stark differences in their cityscapes. The north is more predominantly Muslim with a population of over 40% of muslims and is one of India’s highest Muslim concentration. The south of the two lakes is more modern with great roads, shopping complexes, hotels and more. The rate of gold in the city has been on the downward trail after the recent hit to the gold rates worldwide and in India.
The demand for gold in Bhopal like other cities in India, is to keep up with the age old traditional festivities and auspicious occasions like festivals and weddings. The high intrinsic value and significance in the Indian culture is what attracts most customers to this precious yellow metal.
Gold Rate Trend in Bhopal for October 2016 to December 2016 (per gram of 24 karat gold)
|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 of October and 2nd of October||Rs.3,247 per gram from 11th of November to 12th of November||Rs.2,938 per gram from 1st of December to 7th of December|
|Lowest price||Rs.3,123 per gram from 7th of October to 9th of October||Rs.2,949 per gram from the 25th of November to 27th of November||Rs.2,810 per gram from 22nd of December to 26th of December|
Gold Rate Trend for Bhopal in October 2016
- Gold traded at Rs.3,249 per gram in Bhopal, with prices remaining constant until the next day due to sustained demand. This was also the highest rate at which gold traded for the month of October in Bhopal. This rate however, could not be sustained and prices declined thereafter.
- Gold rate was Rs.3,164 per gram for 24 karat gold on the 6th of October and declined steadily over the next few days. On the 7th of October, rate of gold plunged to Rs.3,123 per gram and was the same until 9th of October. This was the lowest rate at which gold traded at for the month of October.
- Rate of gold was largely stable during October with a few minor variations here and there.
- However, despite the stability in prices, there was a decline of 2.69% noted in the price of gold at the end of October.
Gold Rate Trend for Bhopal in November 2016
- Price of gold was relatively high at the beginning of the month where the price was Rs.3,168 per gram. Gold rate, however increased from the 2nd of November due to a high demand for gold in both overseas and domestic markets.
- The rate of gold was Rs.3,197 per gram on 2nd November and was steady until the 10th of November. This steadiness could be attributed to sustained demand.
- On November 8th, Prime Minister Narendra Modi announced the ban of notes worth Rs.500 and Rs.1,000 in order to curb corruption and the rise of black money. This was termed as demonetization. This resulted in quite a few significant fluctuations in the rate of gold. Immediately after this announcement, price of gold increased in Bhopal.
- On the 11th of November, the rate of gold shot up to Rs.3,247 per gram and stayed steady at this the next day as well. This rate was the highest at which gold was priced for the entire month. This rate however could not be sustained and fee the next day to Rs.3,082 per gram and stayed steady at this price until 17th November. Gold traded at Rs.3,009 per gram the next day until 22nd of November due to a fall in demand.
- The price of gold continued to decline steadily throughout November with a few minor variations here and there.
- Gold traded at Rs.2,949 per gram from the 25th of November to 27th of November which was the lowest rate at which gold traded at for this month.
- As the month drew to a close the price of gold varied before closing at Rs.2,975 per gram which was quite low as compared to the previous months. A number of factors contributed to a steep decline of 6.09% in the price of gold.
Gold Rate Trend for Bhopal in December 2016
- The price of gold on the 1st of December was Rs.2,938 per gram. This was relatively high as the rate of gold in other cities was quite low in December. This rate stayed steady until the 7th of December and was also the highest rate at which gold traded for the month of December.
- This high rate however could not be sustained and price of gold reduced slightly to Rs.2,907 per gram. Over the next few days, the rate of gold decreased even further but overall many variations were not seen in gold rates.
- Due to market fluctuations and the possibility of the U.S. Federal Reserve increasing the rate of interest resulted in the price of gold increasing slightly before reducing again.
- On the 21st of December, the rate of gold was Rs.2,826 per gram but this rate could not be sustained and gold traded at Rs.2,810 per gram from the 22nd of December to 26th of December which was also the lowest rate at which gold traded for the month of December.
- During the last few days of December, there were a few minor fluctuations noted in gold rates and closed at Rs.2,884 per gram, noting a decline of 1.83% in gold rates.
Gold Rate Trend in Bhopal for July 2016 to September 2016 (per gram of 24 karat gold)
|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 Bhopal in July 2016
- Gold performed well this month with an increase of 4.40% in prices.
- Initially, gold prices were low. Gold traded at Rs.3,112 per gram on 1st July.
- Gold rates started climbing on account of positive trends in the global market post the Brexit vote.
- There was commotion about the central banks introducing monetary stimulus into the market which led to high demand for gold.
- The highest price for this month was Rs.3,249 per gram on 31st July.
Gold Rate Trend of Bhopal in August 2016
- Gold traded at Rs.3,249 per gram on 1st August.
- In the first half of the month, the market outlook was bullish and gold prices climbed.
- On 18th August, gold traded at Rs.3,283 per gram, the highest for this month.
- In the second half of the month, the U.S. Federal Reserve raised expectations of a rate hike this month and demand for gold fell as investors took to the sidelines.
- The trend for this month was a decline of 0.74%.
Gold Rate Trend of Bhopal in September 2016
- Investors were still reluctant to buy gold as expectations of a Fed rate hike were strong.
- On 1st September, gold traded at Rs.3,212 per gram.
- Initially, gold prices were low but this soon changed as the Fed rate hike was put on hold because the presidential elections of the U.S. were too close.
- With the nearest window for the hike falling only in December, demand for the metal soared.
- The highest price for gold this month was Rs.3,285 from 23rd September to 26th September.
- The trend for this month was an increase of 2.08% in gold prices.
Gold Rate Trend in Bhopal for April 2016 to June 2016 (per gram of 24 karat gold)
|1st day||Rs. 2,989 per gram||Rs. 3,154 per gram||Rs. 3,038|
|Last day||Rs. 3,154 per gram||Rs. 3,018 per gram on 31st of May||Rs. 3,112|
|Highest price||Rs. 3,154 per gram on the 30th of April||Rs. 3,155 per gram between 7th and 11th of May||Rs. 3,192 per gram on 27th June|
|Lowest price||Rs. 2,989 per gram on the 1st of April||Rs. 3,003 per gram on the 30th of May||Rs. 3,015 per gram on 3rd June|
|Trend||Gold prices rose steadily||Gold prices declined||Rise|
Gold Rate Trend of Bhopal in April 2016
- Gold traded at Rs. 2,989 per gram on the 1st of April.
- Despite low demand, gold managed to gain in the month of April as by the end of the month gold traded at Rs. 3,154 per gram.
Gold Rate Trend of Bhopal in May 2016
- Gold opened at Rs. 3,154 per gram in the beginning of the month.
- Gold prices reduced drastically by the end of the month owing to expectations of a rate hike by the Federal Reserve.
- Gold traded at Rs. 3,018 per gram on 31st of May.
Gold Rate Trend of Bhopal in June 2016
- There were a few minor variations noted in the price of gold in the first week of the month.
- Gold opened at Rs.3,038 per gram on the 1st and maintained the same until the 2nd.
- Price of gold reduced slightly to Rs.3,015 per gram on the 3rd which was also the lowest for the month.
- Price of gold increased to Rs.3,063 per gram on the 4th.
- Price of gold was steady at Rs.3,063 per gram from the 5th to 7th of June.
- A slight increase was seen in the price of gold on the 8th.
- Gold rate was steady at Rs.3,094 per gram until the 10th after which prices increased again.
- Price of gold was steady at Rs.3,123 until the 18th from the 11th of June.
- Price of gold was Rs.3,123 per gram on the 19th after which it reduced slightly.
- Gold rate was Rs.3,075 per gram from 19th to the 25th of June with no variations.
- Price of gold continued to be steady at Rs.3,075 per gram until the 26th after which a significant jump was seen wherein gold price was Rs.3,192 per gram on the 27th which was also the highest for the month.
- Price of gold was steady at Rs.3,112 per gram from the 28th to the 30th of June.
|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 the 27th and 28th of January||Rs. 3,068 per gram on the 29th of February||Rs. 3,093 per gram between 12th and 17th of March|
|Lowest price||Rs. 2,601 per gram on the 1st of January||Rs. 2,775 per gram on the 1st of February||Rs. 2,989 per gram on March 31st|
|Trend||Gold prices rose steadily||Gold prices rose steadily||Gold prices declined|
Gold Rate Trend of Bhopal in January 2016
- Gold opened at Rs. 2,601 per gram on 1st of January.
- Gold prices rose steadily due to heavy demand in the second week of January.
- Gold hit its highest for the month on 27th January at Rs. 2,789 per gram.
Gold Rate Trend of Bhopal in February 2016
- Gold traded at Rs. 2,775 per gram on the 1st of February with no changes in demand.
- There was a steady rise in gold rate in February and gold hits its peak for the month on 29th of February at Rs. 3,068 per gram.
Gold Rate Trend of Bhopal in March 2016
- Gold stood at Rs. 3,068 per gram at the start of the month.
- There were not many changes in the gold price for the month of March as rates did not fluctuate that often.
- Gold dropped down to Rs. 2,989 per gram on 31st of March.
Details of Gold Price in Bhopal (22 Karat & 24 Karat) - Till August 2015
24 karat gold – Karat is a measure of the purity of gold alloys. 24 karat is the purest form of gold with the purity being 99.95% gold. The price of gold is also dependant on it’s purity. 24 karat gold in Bhopal today (10th Aug, 2015) costs you Rs. 2,517.00 per gram which is relatively lower than last month’s Rs. 2, 650 per gram. The current gold rates are at an all time low in 5 years due to multiple global factors. The rates of gold have been fluctuating for few months with almost touching the Rs. 3,000 per gram, and are expected to drop further in the next few months.
22 karat gold – 22 karat gold is generally used by most jewellers to create artistic pieces of jewellery, since it’s considered to be only 92% pure. The lower purity factor makes it slightly cheaper and more affordable than 24 karat gold. Buying 1 gram of 22 karat gold in Bhopal will make the buyer spend Rs 2,258 as of August 10, 2015. 22k gold has see a slow and steady decline over the last month, due the global trends. Gold rates reached a close of Rs 3,000 per gram in September 2013 and stayed around the Rs 2,700 mark in the later part of 2013 – early 2014, after which the rates began to drop to around Rs 2,500 per gram. Many experts believe that this downwards trend in prices are expected to fall even further.
Gold Investment Avenues in Bhopal
In Bhopal like in India buying gold is the best assets for the common man, and preferably stick to the jewellery options. It saves money, adds as a fashion accessory and is extremely liquid. It’s an easy option to purchase it doesn’t need any paperwork, form filling and more to purchase gold. All one needs to do is walk into a store and purchase the precious metal as much as they’d like to and gives one a sense of ownership. Gold is fairly liquid, in India it can always be pawned or sold to get cash within minutes. It also acts as the perfect gifts to your loved ones. It’s a great physical holding or tangible asset, it can be felt, worn and used. It creates a sense of holding and isn’t like equity or paper financial products. As an investment you can buy gold futures, as well as Exchange Traded Funds or ETFs. Gold futures can be bought early and sold later, saving. you from market instability of gold rates. However, spot contracts ares sold and bought quickly and hold risk to gold market risks.
- Also Check:Gold Rate in Madhya Pradesh
Also Check Gold Price in NearBy Cities of Bhopal
|Gold Rate In Indore||Gold Rate In Ratlam||Gold Rate In Jabalpur|
|Gold Rate In Raipur||Gold Rate In Bhilai||Gold Rate In Nagpur|
|Also Know: Silver Rate in Bhopal|
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- What Is Spot Gold?