Gold Rate In Chhattisgarh

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Gold rate in Chhattisgarh

Chhattisgarh is a centrally located state in India which is extremely rich in culture and boasts of various folk music and dance forms. Due to the cultural strength and heritage in the country and the vivacious lifestyle, clothing and jewelery, gold is an integral part of their culture. However, in Chhattisgarh similar to other states in the country the rates are based on the prices around the region and fixed on the basis of the gold rates from the other parts of the country. Here, you will read about the general trend and rates of gold in the state.

Gold Rate Trend in Chhatisgarh for January 2017 to March 2017 (per gram of 24 karat gold)

Factor	January	February	March
1st day	Rs.2,821 per gram	Rs.2,965 per gram	Rs.2,990 per gram
Last day	Rs.2,954 per gram	Rs.3,003 per gram	Rs.2,940 per gram
Highest price	Rs.2,978 per gram on 23rd January	Rs.3,014 per gram on the 25th and 26th of February	Rs.2,994 per gram on the 2nd of March
Lowest price	Rs.2,821 per gram on 1st January	Rs.2,944 per gram on the 4th and 5th of February	Rs.2,900 per gram on 15th of March
Trend	Incline	Incline	Decline
Change	4.71%	1.28%	-1.67%

Gold Rate Trend in Chhatisgarh for January 2017:

• When January began in Chhatisgarh, gold was trading at Rs.2,821 per gram, which increased over the next few days as the US dollar weakened amidst Donald Trump’s monetary policies.
• Demand for the metal was so strong that prices had gone up to Rs.2,876 per gram when the 9th came to an end.
• The 10th saw prices go up again - to Rs.2,892 per gram - as demand saw no signs of letting down.
• However, rates fluctuated over the subsequent 10 days as it ended at Rs.2,951 per gram on 20th.
• As demand was steady, gold prices increased over the last week as well and hit Rs.2,978 per gram - the highest gold rate for the entire month.
• The month ended with gold trading at Rs.2,954 per gram.

Gold Rate Trend in Chhatisgarh for February 2017:

• When February started, gold was trading at Rs.2,965 per gram.
• Prices seemed to fluctuate considerably as US federal reserve introduced a rate cut, which brought global bullion market down by a notch.
• Despite the fall in demand, gold prices seemed to be on the positive side as demand had built up quite a lot over the previous month.
• After some falls, gold prices hit their highest during the 25th and the 26th as the yellow metal was trading at Rs.3,014 per gram.
• The month ended with gold trading at Rs.3,003 per gram.
• Price trends in Chhatisgarh changed by 1.28% for the month of February.

Gold Rate Trend in Chhatisgarh for March 2017:

• In March, gold prices seemed to go down as demand from global bullion traders decreased.
• The lack of demand could be attributed the historic interest rate hike from the US Federal Reserve, which hiked the rate for the second time in a span of 2 months.
• The month started with gold trading at Rs.2,990 per gram but went down as demand slipped up amidst concerns over strengthening dollar.
• Gold rates hit their lowest on 15th, when the metal was trading at Rs.2,900 per gram as demand hit a new low.
• However, gold prices rallied by the end of the month to close at Rs.2,940 per gram, marking the beginning of a negative price trend.
• Rate trends changed by -1.67% for the month of March.

Gold Rate Trend in Chhattisgarh from October 2016 to December 2016 (per gram of 24 karat gold)

Factor	October	November	December
1st Day	Rs.3,152 per gram	Rs.3,065 per gram	Rs.2,893 per gram
Last Day	Rs.3,067 per gram	Rs.2,942 per gram	Rs.2,821 per gram
Highest Price	Rs.3,152 per gram on 1st	Rs.3,166 per gram on 9th November	Rs.2,892 per gram on the 2nd
Lowest Price	Rs.3,021 per gram on 15th and 16th	Rs.2,914 per gram on 25th November	Rs.2,767 per gram on the 22nd
Trend	Decline	Decline	Decline
Change	-2.69%	-4.01%	-2.48%

Gold Rate Trend in Chhattisgarh for October 2016:

• When October began in Chhattisgarh, gold was trading at Rs.3,152 per gram but decreased gradually over the course of the week.
• On 3rd, prices were down to Rs.3,138 per gram and then to Rs.3,026 by the 9th.
• The next week saw prices stabilising as gold rates were holding at Rs.3,037 per gram on 13th.
• After much downslide in rates, prices picked up to close the 20th at Rs.3,053 per gram.
• At the end of the month, gold prices recovered slightly to trade at Rs.3,067 per gram.
• Overall, Chhattisgarh witnessed a change of -2.69% with regards to gold rate for October.

Gold Rate Trend in Chhattisgarh for November 2016:

• November was a rather tumultuous period for gold rates in India.
• For starters, the appointment of Donald Trump as US president sent the world market crashing leading to a surge in gold investments.
• The first 10 days of the month performed admirably picking up on the progres October had posted.
• However, PM Narendra Modi shocker with the introduction of demonetisation quelled the buyer sentiment brought on by US election results.
• The month started with gold trading at Rs.3,065 per gram which went up to Rs.3,119 per gram by the 6th.
• Slump in prices began on the 9th as rates dropped by nearly Rs.100 per gram from Rs.3,166 per gram on 9th to hit Rs.3,059 per gram on 12th.
• After much fluctuations, prices further dropped to Rs.2 986 per gram by the 19th.
• The last 10 days of November saw prices fluctuate as well as prices had gone down to as low as Rs.2,914 per gram by the 25th.
• November ended when gold rates were holding out at Rs.2,942 per gram.
• The month saw a change of -4.01% with respect to gold rates.

Gold Rate Trend in Chhattisgarh for December 2016:

• Although December was a better month for gold, it still saw prices go down.
• The month began with gold trading at Rs.2,893 per gram and fluctuations to go down to Rs.2,864 per gram on 7th.
• There was still a massive cash crunch around the nation as Rs.500 and Rs.1,000 notes were invalidated.
• By the end of the 20th, prices were down to Rs.2,788 per gram.
• The onset of Christmas did little to improve gold rates as the price of the yellow metal went down to Rs.2,773 per gram due to the lack of demand.
• Prices were down to Rs.2,821 per gram at the end of the month.
• Gold rates decline by 2.48% for the month of December.

Gold Rate Trend in Chhattisgarh for July 2016 to September 2016 (per gram of 24 karat gold)

Factor	July	August	September
1st day	Rs.3,127.50 per gram	Rs.3,215 per gram	Rs.3,132 per gram
Last day	Rs.3,214 per gram	Rs.3,148 per gram	Rs.3,169 per gram
Highest price	Rs.3,214 per gram on 30th and 31st July	Rs.3,224 per gram on 3rd August	Rs.3,195 on 8th September
Lowest price	Rs.3,127.50 per gram on 1st July	Rs.3,148 per gram on 31st August	Rs.3,132 on 1st September
Trend	Incline	Decline	Incline
Change	+2.77%	-2.08%	+1.18%

Gold Rate Trend of Chhattisgarh in July 2016

• The lowest price for this quarter was witnessed on 1st July with gold trading at Rs.3,127.50 per gram.
• Post the Brexit vote, demand for gold picked up as the market stabilised.
• Gold prices climbed to Rs.3,214 per gram on 30th and 31st July, the highest for this month.
• Prices increased by 2.77% this month on account of positive trends in the domestic and global markets.

Gold Rate Trend of Chhattisgarh in August 2016

• Demand for gold was stable at the start of the month with the positive trends of July continuing to rule the market.
• Gold was seen trading at Rs.3,215 per gram on 1st August and by 3rd, it had climbed to its highest for the month, trading at Rs.3,224 per gram.
• Hawkish comments released by the U.S. Federal Reserve brought back high anticipation of the interest rate hike.
• Investors were reluctant when it came to gold and prices started to drop.
• Gold prices declined by 2.08% this month as demand for the metal was low.

Gold Rate Trend of Chhattisgarh in September 2016

• Gold prices remained low at the start of the month.
• Gold traded at Rs.3,132 per gram on 1st September.
• Demand started to pick up in the domestic market as jewellers increased their offtake to prepare to meet high demand during the festive season.
• The interest rate hike by the U.S. Federal Reserve was put on hold as the presidential elections were too close.
• The market outlook was bullish and demand for gold started to climb up.
• There was an increase of 1.18% in gold rates in September.

Gold Rate Trend in Chhattisgarh for April 2016 to June 2016 (per gram of 24 karat gold)

Factor	April	May	June
1st day	Rs. 2,894 per gram	Rs. 3,069 per gram	Rs.2,918 per gram
Last day	Rs. 3,069 per gram	Rs. 2,916 per gram on 31st of May	Rs.3,103 per gram on the 30th of June
Highest price	Rs.3,069 per gram on the 30th of April	Rs. 3,073 per gram on 7th and 8th of May	Rs.3,180 per gram on the 27th of June
Lowest price	Rs. 2,876 per gram on 4th of April	Rs. 2,900 per gram on the 30th of May	Rs.2,911 per gram on the 3rd of June
Trend	Rising	Decline	Rising
Change	+5.52%	-4.31%	+6.33%

Gold Rate Trend of Chhattisgarh in April 2016

• Gold traded at Rs. 2,894 per gram on the 1st of April.
• Gold managed to rise to Rs. 3,069 per gram by the end of the month despite a lot fluctuation in the prices.

Gold Rate Trend of Chhattisgarh in May 2016

• Expectations of a rate hike by the U.S. Federal Reserve pushed down gold prices as gold stood at Rs. 3,051 per gram in the second week of May.
• Gold hit the highest for the month at Rs.3,073 per gram on the 7th and 8th of May.
• Gold traded at Rs. 2,916 per gram on the 31st of May as a consequence of rising dollar.

Gold Rate Trend of Chhattisgarh in June 2016

• Gold traded at Rs.2,918 per gram on the 1st of June.
• Gold hit the highest for the month at Rs.3,180 per gram on the 27th of June.
• Gold closed the month at Rs.3,103 per gram on the last day of June.

Details of Gold Price in Chhattisgarh (22 Karat & 24 Karat) - Till December 2015

Price of 22K gold as of December 18, 2015 is Rs. 2465 or US$37.1 in Chhattisgarh. Price of 24K gold as of December 18, 2015 is Rs. 2636.36 or US$39.68 in Chhattisgarh. Gold rates in Chhattisgarh are affected by the exterior issues which include both global and national economic events. Gold rates fell in August, mainly due to the global sentiments being at the time being weak for the gold market. Both China and India being two of the largest gold markets in the World also were hit as prices dropped and did not have the prior year’s impact of people rushing to buy gold. There were also concerns with the fall of Greece’s economy. Finally, it rose again to a Rs. 2546 during the months that saw the gold requirement through festivities such as Diwali and Dhanteras. It has fallen recently due to the end of the wedding season. 24K gold was priced around Rs. 2693 around the festive season.

Gold as an investment in Chhattisgarh

When it comes to a safe investment option, Gold is generally one of the first things that comes to one’s mind. In Chhattisgarh too the yellow metal is considered an investment option that is lower on risk factors, primarily based on the fact that it is highly affordable and culturally significant as mentioned before. Most families find this metal auspicious, and make it an integral part of their lifestyle especially in family functions such as weddings and Dhanteras season. gold definitely is the more expensive option when it comes to gold but it is an investment opportunity especially for people who are looking to build wealth over the years or through trading. Investors in this part of the country also find it an integral part of their investment portfolio along with stock market and mutual fund investments. Investors have various options for gold trading through gold contracts and physical gold.

Physical Gold: If you are buying gold in Chhattisgarh, you have a variety options. This includes buying gold coins from jewelers as well as banks who offer products that are variegated in prices based on individual’s investment requirement and budget. Gold ornaments include chains, anklets, earrings, amulets, nose rings and rings which serve both as an investment along with being an accessory. Gold statues of gods and goddesses are also popular in chhattisgarh, with their demand peaking during festivals and religious processions during Akshaya Tritiya and Ganesh chaturthi. Gold in banks are slightly more expensive. But then again you have the advantage of gold that is certified and checked and you can be assured about the purity.

Market Trade: In this state you can purchase One can purchase gold through the markets, with gold being traded in the National Multi Commodity Exchange, National Commodity and Derivatives Exchange and the Multi Commodity Exchange. This is apt for individuals willing to purchase gold in bulk, with the minimum trading limit being set at 1 kg in general. It a viable option for people who are well aware of the gold market and all that affects it.

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