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 Chhattisgarh for July 2019 to September 2019 (per gram of 24 karat gold)

Gold Rate Trend in Chhattisgarh for April 2019 to June 2019 (per gram of 24 karat gold)

Gold Rate Trend in Chhattisgarh for January 2019 to March 2019 (per gram of 24 karat gold)

Gold rate trend in Chhattisgarh for January 2019:

• The gold rate in Chhattisgarh increased at the start of January 2019 as the rupee increased in value in comparison to the dollar.
• Demand for the metal surged globally amongst investors, as many switched to investing in bullion as opposed to stocks and equites. The share mark dipped in value globally and the metal stood at Rs.3,219 per gram on 1st January. It remained the same till 3rd January after which there was a steady increase in the value of gold for the month.
• There was a surge in demand for the metal amongst industrialists and local jewelers throughout the country. Therefore, there was a surge in the price of the metal causing the import business for gold to thrive.
• At the end of the month, the price of gold hit its highest point at Rs.3,411 per gram resulting in a percentage incline of 5.96%.

Gold Rate Trend in Chhattisgarh for February 2019:

• On the 1st of February, gold sold at Rs.3,411 per gram as equity markets remained low and bad economic trends prevailed despite the Federal Reserve indicating positive trends.
• Gold rate in Chhattisgarh from the 8th to 19th dipped to Rs.3,398 per gram as investor interest in the metal declined and the US dollar dipped rose in comparison to other currencies. This also dampened local and retail demand.
• Trade talks between Sino-US boosted the value of the dollar. However, economic uncertainty caused due to Brexit led to a higher interest in bullion. On 20th February, the price of the metal stood at Rs.3,446 per gram.
• The price of gold in the city then remained steady as local offtake increased. However, as the US dollar gained an edge towards the end of the month, the price of gold declined to Rs.3,439 per gram on 28th February.

Gold rate trend in Chhattisgarh for March 2019:

• The month started at a low as the gold rate in Chhattisgarh declined from last month as the dollar increased in value. During the same time, equities declined in value as well. The price of gold at the start of March was recorded at Rs.3,439 per gram. This was also the highest price that the yellow metal stood at for the month.
• At the end of the first week of the month, the Euro surpassed the dollar after the ECB (European Central Bank) postponed their interest hike. This stunted potential gain for bullion propelled by darkened economic situations.
• On 22nd March, the value of gold dipped to one of its lowest points as the dollar strengthened and poor economic conditions prevailed. At this point, gold in Chhattisgarh was trading at Rs.3,281 per gram.
• The month ended with gold being priced at its lowest when it was priced at Rs.3,266 per gram. The month recorded a declining trend for the month and the percentage decline was recorded at –5.03%.

Gold Rate Trend in Chhattisgarh for October 2018 to December 2018 (per gram of 24 karat gold)

Gold rate trend in Chhattisgarh in October 2018

• On the first day of October, gold trade opened at Rs.3,140 per gram and showed a positive trend through the month.
• By the middle of the month, in Chhattisgarh, the metal was priced at Rs.3,228 per gram. This was majorly due to the strengthening of the rupee against the dollar. As the global markets fell, the dollar fell too resulting in the increase in the value of gold in the country.
• In the second half, the demand amongst local jewellers as the state and the country would celebrate the festival of Diwali, early in November.
• Trade of the precious metal closed at Rs.3,302 per gram, the highest during the month, due to various global factors such as the US-China trade war and the Brexit negotiations. The month ended with the trend being at a percentage incline of 5.15.

Gold rate trend in Chhattisgarh in November 2018

• November saw the gold trade take a negative turn after opening at a high of Rs.3,302 per gram. As the dollar recovered, the investors shifted from the bullion to the market resulting in a decrease in demand.
• Gold prices held steady only in the first week of the month in Chhattisgarh and in the country as the people celebrated the festivals of Diwali and Dhanteras.
• Even though gold trends were steady in the global markets, the price of the metal in India was particularly hit as the rupee weakened in the month. The import business in the country also took a dive due to less demand.
• On 30 November, gold trade closed at a monthly low of Rs.3,140 per gram resulting in a decline of 2.81.

Gold rate trend in Chhattisgarh in December 2018

• In December, the trend of gold showed positive signs as the US government and the Chinese government talked about a trade truce, resulting in the fall of the market, globally.
• On 1 December, the price of the metal was Rs.3,131 per gram and increased to a monthly high of Rs.3,234 per gram due to various other global factors such as the ongoing Brexit negotiations.
• In India, the demand gold amongst local jewellers rose as the wedding season started in the latter half of the month, resulting in an increase in the import business.
• Gold trade closed on 31 December at Rs.3,219 per gram resulting in a percentage incline of 2.81.

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

Gold Rate Trend in Chhattisgarh for January 2018:

• The month commenced with the bullion prices holding at Rs.3,009 per gram with steady local demand brought about by positive trends from the previous month.
• However, the strengthening US dollar coupled with rising equities led to gold prices plunging to Rs.3,000 per gram on the 4th.
• Gold prices improved over the next three with equity markets tumbling following the release of the weaker-than-expected employment data and inflation reports during the period.
• Gold rates surged to Rs.3,144 per gram on the 29th as investors and market participants gravitated towards the bullion to hedge against the US inflation concerns.
• The month concluded with the precious metal trading at Rs.3,121 per gram on the 31st amid firm global cues.
• Chhattisgarh recorded an incline of 3.72% in gold rates on account of strong global cues that raised demand during the course of the month.

Gold Rate Trend in Chhattisgarh for February 2018:

• February began with gold priced at Rs.3,128 per gram on the 1st after a decline in dollar rates led to rates rising from the previous session.
• However, with the dollar regaining lost ground from its previous rally of losses, demand for the metal dropped over the next few days.
• On the 9th, gold was recorded trading at Rs.3,091 per gram - the lowest monthly figure - on account of poor domestic demand from local jewellers and retailers brought about by the strengthening US dollar and rising equity markets.
• The next couple of weeks saw gold rates improving with the bullion capitalising on the tumbling greenback and gold prices were recorded holding at Rs.3,148 per gram on the 17th.
• Thanks to steady domestic demand compounded by strong global cues, prices remained untouched at Rs.3,148 per gram until the 22nd.
• The month came to an end with the yellow metal priced at Rs.3,147 per gram on the 28th with steady demand from local industries, retailers and industries amid positive global cues.
• Gold prices in Chhattisgarh rose by 0.60% owing to the firm markets that stabilised demand during the course of the month.

Gold Rate Trend in Chhattisgarh for March 2018:

• Trading commenced for the final month of Q1 2018 with the yellow metal prices holding at Rs.3,147 per gram on the 1st with steady domestic demand from the previous month.
• Poor dollar performances coupled with uneven returns on equity markets led to an increased investor demand over the next few days.
• Gold rates surged to Rs.3,148 per gram on the 8th and continued trading at the same rate the next day with positive market trends pushing demand higher at the domestic level.
• However, with the stock markets surging following the dismissal of the US Secretary of State by the White House, the US dollar gained against other apex currencies.
• The 17th saw gold prices hitting their lowest recorded monthly figure of Rs.3,123 per gram with demand for the metal declining amid the well performing equity markets.
• The month concluded with the bullion priced at Rs.3,148 per gram as the US greenback and equities tumbled ahead of the US central bank meeting.
• Chhattisgarh registered an incline of 0.03% in gold prices, thanks to steady domestic demand from jewellers and retailers during the course of the month.

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

Gold Rate trend in Chhattisgarh for October 2017:

• The central Indian state of Chhattisgarh played host to a lot of price fluctuations during the month of October.
• When trading began in the state, gold was priced at Rs.3,040 per gram, which seemed to fall as local demand weakened amid a rising dollar.
• Towards the end of the second week, however, gold prices in Chhattisgarh began to soar - hitting a month high figure of Rs.3,059 per gram on the 14th and the 15th.
• A poor local demand from jewellers in spite of the soon approaching festive season caused gold rates to plummet as the month dragged on.
• After considerable fluctuations, gold price in Chhattisgarh hit their lowest monthly rate on the 31st, trading at Rs.2,996 per gram.
• Prices were seen continuing a declining trend for much of this month, which happened to the tune of 1.44%.

Gold Rate Trend in Chhattisgarh for November 2017:

• Gold trading in the state was on the positive side this month, thanks in part to a falling dollar and an increased demand from domestic investors.
• When the month began in Chhattisgarh, gold was priced at Rs.2,974 per gram. This, along with the rates on the 6th, was the lowest figure for the entire month.
• From the second week onwards, gold prices were largely on the incline thanks to increased buying from jewellers who ramped up purchases to meet festive demand.
• Gold rates between the 18th to the 20th - i.e., Rs.3,030 per gram - the highest for the month as demand was on the rise.
• However, as investors backed off slowly and demand reached saturation point, gold prices dipped towards the final few days of the month.
• The final day of November 2017 saw gold trading at Rs.2,996 per gram and there was a 0.73% incline in gold prices this month.

Gold Rate Trend in Chhattisgarh for December 2017:

• December’s gold trading continued the trend seen in the previous month. On the 1st, the yellow metal was priced at Rs.2,982 per gram.
• With the US administration announcing new tax laws, gold price in Chhattisgarh seemed to fall for the first few weeks.
• Gold hit its lowest for the month on the 13th when it traded at Rs.2,906 per gram as demand plummeted amidst a strong dollar.
• However, as the dollar trailed off due to various other concerns regarding Donald Trump administration, gold prices hit Rs.3,015 per gram over the final two days of the month.

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

Gold rate trend in Chhattisgarh for July 2017

• The yellow metal opened at Rs.2,950 per gram on the 1st of July. This was also the highest recorded monthly figure.
• Gold price in Chhattisgarh plummeted to Rs.2,824 per gram on the 11th after the US employment proved to be unfavourable for the bullion industry.
• On the 14th, gold rate in Chhattisgarh hit its lowest monthly figure of Rs.2,800 per gram due to the introduction of GST in the country pushing demand lower.
• The rest of the month, however, witnessed rates recovering with the US-North Korean relations intensifying.
• Gold was priced at Rs.2,917 per gram on the 22nd owing to a strong demand from the Asian continent amid poor dollar rates.
• When the month ended, the precious metal was recorded trading at Rs.2,920 per gram on the 30th.
• Chhattisgarh registered a loss of 1.01% during the month owing to poor trends in the domestic trade.

Gold rate trend in Chhattisgarh for August 2017

• Chhattisgarh witnessed the bullion industry recovering from the impact of GST implemented in the previous month owing to a strong trend overseas.
• Gold was priced at Rs.2,931 per gram when the month commenced.
• Global bullion demand remained strong for much of the month due to continued aggression between the US and North Korea. This led to the yellow metal being priced at Rs.2,975 per gram on the 11th.
• The 29th witnessed gold rate in Chhattisgarh surging to Rs.2,980 per gram - the highest recorded monthly figure - as investors gravitated towards investments considered safer amid the US-North Korean conflicts.
• When the month ended, gold was priced at Rs.2,965 per gram amid a stronger dollar and firmer equities market.
• Chhattisgarh registered a profit of 1.16% during the month owing to the strong trends overseas.

Gold rate trend in Chhattisgarh for September 2017

• Trading opened in Chhattisgarh with the precious metal being priced at Rs.2,995 per gram.
• World markets tanked after North Korea announced an official statement on their successful two-stage thermonuclear weapon test. This led an increase in safe-haven demand and gold was priced at Rs.3,100 per gram - the highest recorded monthly figure - on the 11th of September.
• However, the next couple of weeks saw gold rates declining with the US economy recovering from the initial shock.
• Gold rate in Chhattisgarh surged with the arrival of Dussehra pushing domestic demand higher for the precious metal in the local trade. The yellow metal was recorded trading at Rs.3,081 per gram on the 26th.
• The month ended with gold priced at Rs.3,040 per gram and Chhattisgarh witnessed gold prices in Chhattisgarh inclining at 1.50% due to strong global cues and positive domestic trends.

Gold rate trend in Chhattisgarh for April 2017

• There was a gradual rise in the price of gold in April in Chhattisgarh, with gold opening the month at Rs.2,956 per gram and rising to Rs.2,983 per gram on 5 April.
• A momentary increase in the U.S. dollar rate led to a drop in demand for the metal, as it traded at Rs.2,954 per gram on 9 & 10 April.
• Local demand and higher demand from jewellers led to a rise in the price of gold, which traded at Rs.3,040 per gram on 15 & 16 April.
• The fluctuating U.S. dollar rate as well as the volatile markets helped keep demand for gold high as the geopolitical crises in the country adversely affected the markets.
• Prices remained high before falling to Rs.2,964 per gram on 26 April as a late rally by stock markets led to a drop in demand.
• Gold recovered marginally as the month ended, with gold priced at Rs.2,984 per gram on 30 April.

Gold rate trend in Chhattisgarh for May 2017

• Gold prices were on the decline due to various market forces such as the upcoming French presidential election, with the metal opening at Rs.2,984 per gram on 1 May.
• Prices dipped to Rs.2,899 per gram on 6 & 7 May as the U.S. dollar rose following favourable market cues and overseas demand for the precious metal fell.
• Demand continued to be poor as European markets were also high, resulting in a reduction in orders as gold traded at Rs.2,890 per gram on 15 May.
• An increase in local demand led to prices rising to Rs.2,954 per gram on 20 May, rising further to Rs.2,963 per gram on 24 May following the attack in Manchester.
• Demand for gold rose due to uncertainty after the terrorist attack with the yellow metal trading at Rs.2,977 per gram on 29 May and settling at Rs.2,963 per gram on 31 May.

Gold rate trend in Chhattisgarh for June 2017

• The price of gold was steady and rising at the start of June, trading at Rs.2,985 per gram on 1 June before rising to Rs.3,030 per gram on 7 June due to a fluctuating U.S. dollar rate.
• Prices fell as U.S. jobs data was more favourable than anticipated, resulting in gold trading at Rs.2,975 per gram on 12 June.
• Overseas demand was muted due to stable markets though the U.S. dollar rate remained low, falling to Rs.2,940 per gram on 20 June.
• Gold prices began to rise after a sustained period of low trading as the metal sold at Rs.2,977 per gram on 26 June.
• Demand dropped in spite of volatile stock markets as industrial offtake was poor, with gold ending the month at Rs.2,967 per gram on 30 June.

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

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.

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.

Also Check Gold Prices in the Cities of Chhattisgarh

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