Gold Rate In Gujarat Today

  • Today's Gold Rate in Gujarat ( 24 Jan 2021 )

    ₹ 4,749
    Today's Gold Rate (22K) per gram

    Compare 22K & 24K Gold Rate In Gujarat (Today & Yesterday)

    Rate Change
    Standard Gold (22 K) ( 1 gram ) ₹ 4,749 ₹ 4,776 ₹ -27 ↓
    Standard Gold (22 K) ( 8 grams ) ₹ 37,992 ₹ 38,208 ₹ -216 ↓
    Pure Gold (24 K) ( 1 gram ) ₹ 4,986 ₹ 5,015 ₹ -29 ↓
    Pure Gold (24 K) ( 8 grams ) ₹ 39,888 ₹ 40,120 ₹ -232 ↓

    Daily Gold Rates

    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    22 Jan 2021 ₹ 4,749 ₹ 37,992 ₹ 4,986 ₹ 39,888
    21 Jan 2021 ₹ 4,776 ₹ 38,208 ₹ 5,015 ₹ 40,120
    20 Jan 2021 ₹ 4,729 ₹ 37,832 ₹ 4,965 ₹ 39,720
    19 Jan 2021 ₹ 4,726 ₹ 37,808 ₹ 4,962 ₹ 39,696
    18 Jan 2021 ₹ 4,706 ₹ 37,648 ₹ 4,941 ₹ 39,528
    17 Jan 2021 ₹ 4,712 ₹ 37,696 ₹ 4,948 ₹ 39,584
    16 Jan 2021 ₹ 4,712 ₹ 37,696 ₹ 4,948 ₹ 39,584
    15 Jan 2021 ₹ 4,750 ₹ 38,000 ₹ 4,988 ₹ 39,904
    14 Jan 2021 ₹ 4,760 ₹ 38,080 ₹ 4,998 ₹ 39,984
    13 Jan 2021 ₹ 4,775 ₹ 38,200 ₹ 5,014 ₹ 40,112

    Weekly & Monthly Graph of Gold Rate in Gujarat

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    *Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.

    Gold Price In Gujarat

    Gujarat, the westernmost state of India has been India’s gateway to the world for centuries, with a rich history of trade and culture. This trade resulted in a huge influx of currency, particularly in the form of gold, leading to the start of a love affair with the golden metal. Current gold rates in Gujarat are a reflection of international gold rates, given the fact that a majority of India’s gold needs are met through import. Gujarat, with a long coastline and excellent ports is often the preferred mode for gold imports to enter India, ensuring it plays a significant role in the journey of this precious metal. Gold is an intrinsic part of Gujarat’s culture, with residents purchasing gold to celebrate festivals and other auspicious events.

    Gujarat jewellery is famous across the globe, with diamond encrusted gold jewellery from Surat attracting worldwide attention. A high per capita income and great investment acumen have ensured that gold is high on the mind of Gujaratis.

    Gold Rate Trend in Gujarat for July 2020 to September 2020 (per gram of 24 karat gold)

    Factor July August September
    1st Day Rs.4,943 per gram Rs.5,465 per gram Rs.5,250 per gram
    Last Day Rs.5,455 per gram Rs.5,240 per gram Rs.5,145 per gram
    Highest Price Rs.5,455 per gram on 31 July Rs.5,712 per gram on 8 August Rs.5,311 per gram on 17 September
    Lowest Price Rs.4,919 per gram on 7 July Rs.5,221 per gram on 29 August Rs.5,072 per gram on 29 September
    Trend Incline Decline Decline
    Change 10.35% -4.11% -2.00%

    Quarterly Gold Rate in Gujarat from July 2020 to September 2020:

    • The prices of gold in Gujarat for the month of July opened and closed at Rs.4,943 per gram and Rs.5,455 per gram, respectively. The highest rate that the yellow metal hit for the month was on the last day. Gold hit its lowest rate for the month on 7 July and was at Rs.4,919 for a gram.
    • In August, the prices of gold reduced by 4.11%. Gold prices hit its highest rate on 8 August and its lowest rate on 29 August, respectively. On 1 August, the price of gold was at Rs.5,465 for a gram. On the last day of the month, the price of gold was at Rs.5,240 per gram.
    • On 1 September, the price of the yellow metal was at Rs.5,250 for a gram. However, by the end of the month, gold prices tumbled by 2.00% and were at Rs.5,145 per gram.

    Gold Rate Trend in Gujarat for April 2020 to June 2020 (per gram of 24 karat gold)

    Factor April May June
    1st Day Rs.4,229 per gram Rs.4,699 per gram Rs.4,727 per gram
    Last Day Rs.4,761 per gram Rs.4,727 per gram Rs.4,959 per gram
    Highest Price Rs.4,846 per gram on 29 April Rs.4,883 per gram on 18 and 19 May Rs.4,959 per gram on 30 June
    Lowest Price Rs.4,229 per gram from 1 April to 20 April Rs.4,646 per gram on 2 May Rs.4,706 per gram from 8 June to 10 June
    Trend Incline Incline Incline
    Change 12.5% 0.59% 4.90%

    Quarterly Gold Rate in Gujarat from April to June:

    • On 1 April 2020, the price of gold in Gujarat was at Rs.4,229 for a gram and remained steady over the next 20 days. This was the lowest rate that the yellow metal hit for the month. The coronavirus outbreak across the world was the main reason for the prices to increase. On 29 April, the price of gold was at Rs.4,761 for a gram, seeing a 12.5% incline over the course of the month.
    • In the month of May, the prices of gold opened at Rs.4,699 per gram and closed at Rs.4,727 per gram. The tensions between China and the US was the main reason for the prices to increase. Gold saw its prices increase by 0.59% in May.
    • In June, the prices of gold saw an incline of 4.90% as the price of gold opened and closed at Rs.4,727 and Rs.4,959 respectively. The increase in the number of coronavirus cases and the stimulus measures that were introduced ensured that the prices increased.

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

    Factor January February March
    1st Day Rs.4,023 per gram Rs.4,194 per gram Rs.4,291 per gram
    Last Day Rs.4,194 per gram Rs.4,379 per gram Rs.4,229 per gram
    Highest Price Rs.4,205 per gram on 9 January Rs.4,425 per gram on 25 February Rs.4,497 per gram on 7 March – 9 March
    Lowest Price Rs.4,023 per gram on 1 January Rs.4,163 per gram on 6 and 7 February Rs.4,152 per gram on 18 and March 2020
    Trend Incline Incline Decline
    Change 4.25% 4.41% -1.44%

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

    • In the first month of the year, gold prices in Gujarat recorded an overall monthly incline opening at Rs.4,023 per gram on 1 January. With the increasing tensions between the Middle East and the United States of America and speculations on the trade deal between the United States of America and China, investors shifted to the bullion market due to safe-haven appeal. The price of the metal hit its highest price on 9 January at Rs.4,205 per gram and was the lowest at the beginning of the month at Rs.4,023 per gram. However, with the first phase of the trade deal being fixed between China and the United States of America, the price of the yellow metal dipped with investors with a higher risk appetite shifting to the stock market. At the end of the month, the price of the metal was Rs.4,194 per gram on 31 January recording an overall percentage incline of 4.25.
    • For February, traders invested in the bullion market saw a higher incline in gold prices. Opening at Rs.4,194 per gram on 1 February, the price of the metal hit its lowest at Rs.4,163 per gram on 6 February and held steady on 7 February as well. Even though the price of the precious metal showed a declining trend in the first two weeks of the month, gold prices surged in the third and fourth week of February with reports flooding in about a possible pandemic originating in Wuhan, China. As the virus spread all over the country, China went into lockdown with no trade happening in the country. With this, investors shifted to the bullion market as safe-haven and the stock market suffered. The price of the metal hit its highest on 25 February at Rs.4,425 per gram with an overall percentage incline of 4.41%.
    • In March, the tables turned for the traders invested in the bullion market. Recording a percentage decline of 1.44 at the end of the month, gold prices fell drastically in the global market. Opening at Rs.4,291 per gram on 1 March, the price of the metal increased in the first week and hit its highest at Rs.4,497 per gram on 7 March and held steady at the same price on 9 March as well. However, with mixed trends in the global bullion market, in the second week, the price of the metal fluctuated heavily. However, in the third week, with most countries going into lockdown to prevent the spread of the novel pandemic, COVID-19, investors chose to cash out on their investments to survive in the crisis-hit market. Due to this, the price of the metal fell drastically in the last two weeks of March. With major bullion trading centres shut to promote social distancing, the price of the metal held steady in the last week with no incline or decline. At the end of the month, gold closed at Rs.4,229 per gram on 31 March in the state recording an incline of 1.44%.

    Also Check Gold Price in Metro Cities

    Gold investment avenues in Gujarat

    Gold is viewed as an excellent investment tool in Gujarat, with residents purchasing it in a bid to diversify their investment portfolios.

    Over-the-counter – Jewellery accounts for a major portion of gold investments in Gujarat, with a majority of residents in small towns choosing jewellery over other forms of the precious metal. Jewellery stores across Gujarat cater to different budgetary needs, offering competitive rates to customers. Gold bars and coins are generally purchased by serious investors looking for long term solutions and are available at major jewellery stores and banks. Coins and bars sold by banks are generally a bit more expensive due to their comprehensive quality checks and assurances.

    Market trade – Exchange Traded Funds (ETFs), E-gold and futures contracts are some of the popular trading options for gold investors in Gujarat. Tech savvy and young investors are opening up to the idea of market trade, with ETFs growing fast, thanks to their ease of trading and ability to offer good returns on investment. E-gold can be traded through the National Spot Exchange Limited, offering flexibility to traders. Futures contracts are designed to protect investors against market fluctuations, providing them with an opportunity to take delivery of gold on a predetermined date at an agreed upon rate.

    Also Check Gold Prices in the Cities of Gujarat

    Read More On Gold

    Buying Gold In India? Make Sure It’s Real Gold

    Don’t be fooled into buying gold that isn’t pure. While gold may be a sound financial investment, things can quickly turn sour if you’re sold gold that is below the acceptable quality standard. Learn how to differentiate between real and impure gold.

    How Do Fluctuations In The Gold Rate Affect The Indian Economy?

    With India being the largest consumer of gold in the world, it comes as no surprise that the economy of the country is also tied in with how the precious metal performs. Learn how changes in gold rates have an effect on the Indian economy.

    Things To Remember Before Buying Gold Jewellery

    Indians purchase the largest amount of gold in the world. While gold can be a good form of investment it could be to your benefit to keep in mind a few important tips when buying gold so that you get value for your money.

    News About Gujarat Gold Rate

    • Silver, Gold Throw Up Mixed Results in Early Trading

      Gold prices traded flat on sluggish demand from jewellers and the retail sector. Spot gold fell on poor demand from industrial units as well.

      Meanwhile, gold futures for August delivery were on the rise, with a marginal 0.05% increase to Rs.29,780 for 10 grams. Silver futures for August delivery on the other hand fell by 0.20% to Rs.38,363 for 1 kg in early trading.

      With the surge in the greenback, analysts predict that bullion might be under pressure for a while, as the U.S. economy appears on track for steady growth. The trade conflict with China does not seem to be impacting the economy severely, as investors have avoided bullion as a safe-haven asset for the moment.

      19 July 2018

    • Gujarat jewelers enter their 34th day of strike

      The strike against excise duty on gold entered its 34th day in Gujarat as jewelers refused to give up on their demand. The state of Gujarat is suffering an average loss of Rs.300 crore per day. WIth the arriving festive season, jewelers are worried that they might lose out on a substantial size of sales.

      Throughout the state of Gujarat, jewelers are protesting in their own unique ways for the government to roll back the decision to levy excise duty on the yellow metal jewelry. Since the month of March an estimated number of around 50,000 jewelers has been on strike as an act of not agreeing with the government’s decision of levying excise duty.

      5 April 2016

    • Gold imports in Gujarat fall a record low

      Gold imports in Gujarat plummeted by 44.92% this year, the lowest in six years courtesy the jewellers' strike and high prices. Around 83.8 MT was imported in Gujarat in FY 2015-16 as against around 152 MT in FY 2014-15, according to GSEC Ltd.

      Gujarat imported 0.54 MT of Gold in March 2016 as against 20.7 MT in the corresponding period last year, registering a fall of 97%, according to latest reports.

      4 April 2016

    • India's gold demand seen falling to 7-year low in March quarter

      Our country's gold demand saw a 7 year low in demand in the March quarter which is said to be two-thirds the previous year lead by prices hikes and a strike called by jewellers reducing demands in the world's second-biggest consumer, according to retailers and analysts.

      The sluggish demand could weigh on global prices, which are headed towards their biggest quarterly gain in nearly 30 years, but will help the country bring down its trade deficit.

      Rural demand is slack after the first back-to-back drought in nearly three decades squeezed farmers` earnings also lead to lowered gold demands since rural India contributes two -thirds of India’s gold demand.

      1 April 2016

    • Gujarat gold imports, at the lowest in almost 2 years

      The gold imports into the state of Gujarat, has reached the lowest in the last 23 months. The import quantity in February 2016 was only 1.32 MT, this is been the lowest since February 2014, which has a import of 1.25 MT. The duty and taxes imposed by the government in this year’s budget have been the reason for the decline in imports, as well as low demands and slacking sales. The decline 77% over February 2015.

      8 March 2016

    • Gold Rises as Budget Announces No Change in Import Duty

      After the Union Budget announced no change in the gold import duty, gold prices in India – the second-largest consumer of the precious metal – increased by 1.4 percent.

      Earlier on Monday, gold futures rose to Rs. 29,750 per 10 gram. By 1 p.m., trading rates of the most active gold futures were hovering around Rs. 29,621 per 10 gram.

      Indian customers were holding off gold purchases in the international market in expectation of a decline in import duty. Import duty was expected to fall by up to 4 percentage points from the current 10 percent.

      1 March 2016

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