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Gold Price In Dhanbad
Dhanbad, known mostly as the Coal Capital of India, is the second most populous city in the state of Jharkhand. Some of the biggest coal companies in the country, including Tata Steel, Bharat Coking Coal Limited (BCCL), and various others operate in this city. The city’s name is derived from two Hindi words, I.e., Dhan meaning Wealth, and Baid meaning Paddy. The name also has various other connotations which refers to the city prospering through all the mineral wealth it has.
Trend of Gold Rate in Dhanbad for May 2018 (rates per gram)
|1st Day||Rs.3,072 per gram||Rs.3,114 per gram||Rs.3,100 per gram|
|Last Day||Rs.3,123 per gram||Rs.3,122 per gram||Rs.3,059 per gram|
|Highest Rate||Rs.3,153 per gram on 19 April||Rs.3,213 per gram on 15 May||Rs.3,127 per gram on 15 June|
|Lowest Rate||Rs.3,064 per gram on 6 April||Rs.3,103 per gram on 3 May||Rs.3,054 per gram on 24 June|
|Overall Monthly Performance||Incline||Incline||Decline|
Gold Rate Trend in Dhanbad for April 2018:
- Gold was priced at Rs.3,072 per gram in Dhanbad when trading commenced for the month of April.
- Prices dropped to a monthly low figure of Rs.3,064 per gram on the 6th as demand was weak owing to weak cues.
- Rates were on the incline this month, after the initial fall, as demand was on the rise globally after the joint force of the US and NATO launched an attack on Syria.
- This new development caused gold rates to surge considerably as markets as well as the US dollar tumbled drastically.
- Cues seemed to strengthen after the US dollar saw little signs of growing and gold traded at Rs.3,153 per gram on the 19th of April - the month’s highest rate - as a result.
- The month ended with gold prices holding at Rs.3,123 per gram - a 1.66% incline from the month’s starting rate.
Gold Rate Trend in Dhanbad for May 2018:
- May’s trading in Dhanbad saw gold opening at Rs.3,114 per gram - a Rs.9 decline from the previous day’s rates.
- Due to weak cues, gold rates dropped to Rs.3,103 per gram - the lowest rate for the month - on the 3rd of the month.
- As demand surged, gold rates went up to Rs.3,213 per gram - the month’s highest - after the US dollar dropped against a host of other currencies.
- The US dollar continued to gain over the second half of the month, which in essence had a negative effect on gold sales.
- Gold rates had come down to Rs.3,122 per gram on the final day of the month.
- Price trends recorded a slightly positive 0.25% incline this month, thanks to a stable demand in the city, especially considering rates fell consistently in other major cities.
Gold Rate Trend in Dhanbad for June 2018:
- Gold opened at Rs.3,100 per gram in the city as demand was on the high side this month.
- As the month wore on, gold rates seemed to drop as the US dollar was buoyant ahead of the latest Fed Meeting which suggested that interest rate hikes were on the cards for later this year.
- Gold trade saw its highest price for this month on the 15th when it traded at Rs.3,127 per gram before dropping over the course of the next two weeks.
- Prices continued to drop over the next week and the metal traded at Rs.3,054 per gram - on the 24th of June, due to poor demand.
- The month ended with gold being priced at Rs.3,059 per gram, due to weakened demand.
- Price trends recorded a 1.32% decline this month, owing to poor cues and a strong dollar.