Gold Rate In Chhattisgarh Today

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Gold Price 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 Chhattisgarh for April 2020 to June 2020 (per gram of 24 karat gold)

Quarterly Gold Rate in Chhattisgarh from April to June:

• In April, the price of gold in Chhattisgarh opened at Rs.4,158 per gram. The prices of gold remained the same for the first 20 days. However, from 21 April the prices of gold increased due to the coronavirus outbreak. Gold rates closed the month at Rs.4,761 for a gram. Overall, gold prices increased by 14.50% in April.
• On 1 May 2020, the price of gold was at Rs.4,699 per gram. By the end of the month, the prices of gold increased by Rs.100 and were at Rs.4,799 for a gram. Overall, gold saw its prices increase by 2.12%. The tensions between China and the US was the main reason for the prices to increase.
• The prices of gold on 1 June 2020 and 30 June 2020 were Rs.4,799 per gram and Rs.4,988 per gram, respectively. Gold saw its prices increase by 3.93% in June. Gold prices gained due to the increase in the number of coronavirus cases, which led to fears of a global recession.

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

Quarterly Gold Rate in Chhattisgarh from January 2020 to March 2020:

• In Chhattisgarh, one gram of gold had been priced at Rs.3,985 on 1 January. The price of the metal had witnessed a few fluctuations throughout the month. There were many factors that led to the change in the price of gold. The outbreak of coronavirus in China, and a few geopolitical tensions in the global economy have driven the change in the rates of gold. On 9 January, gold had recorded its highest price at Rs.4,216 per gram in the city. This rise in the rates can be associated with the U.S. dollar standing on the back foot as a lot of progress had been made in trade talks between Beijing and Washington. As the tensions and pressure in the Middle started to ease, optimism about the signing of an interim trade deal between China and the United States stepped foot in the market and the price of gold started to fall. These factors have also rekindled the appetite for higher risk assets. The yellow metal had closed at Rs.4,179 per gram.
• The metal had opened on 1 February at Rs.4,179 per gram. After the rates of gold had been the same for the first three days, the metal saw an increase in its price to Rs.4,184 per gram by 4 February. The price of the yellow metal had then decreased and had closed curtains on the week at Rs.4,142. The first week of the month had seen the metal reach its lowest price on 7 February at Rs.4,132 per gram. After the price had been the same for the next few days, the rates of gold had hiked. The outbreak of the coronavirus across the world had led to an increase in the price of gold. The precious metal had closed the third week being priced at Rs.4,237 per gram. Gold prices had then increased on 23 February and the metal had been priced at Rs.4,358 per gram. The rates of the yellow metal had hiked as the coronavirus outbreak had a huge impact on the global economy. The price of the metal had then come down as traders had booked profits. The precious metal had closed at Rs.4,358 per gram.
• The metal was being sold at Rs.4,263 per gram at the start of the month. On 18 March, the metal cost Rs.4,116. With central banks across the world had launched new measures for combatting the coronavirus, and the rates had skyrocketed and then started to drop. The rates had been the same during the last week of the month and had been Rs.4,158 per gram by the end of the month.

Also Check Gold Price in Metro Cities

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.

Also Check Gold Prices in the Cities of Chhattisgarh

Read more on Gold

• Why Investing In Gold Is A Golden Opportunity
• Where To Buy Gold In India
• Things To Remember Before Buying Gold Jewellery
• All That You Need To Know About The Gold Monetization Scheme
• What Are Gold Futures?