Gold Rate In Gulbarga Today

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Kalaburgi, or Gulbarga as it was formerly known is a key centre in Karnataka, having been an important town for numerous kingdoms in the past. Today, it is home to over 1.1 million people and has a decent industrial setup. Its history of being home to kings and royalty made it a prosperous area, with gold and other forms of precious minerals abundantly used. This association with gold has ensured that it remains popular even today, with a number of its residents investing in gold. Gold prices in the city change on a daily basis, with international prices dictating the trends.

Gold sales pick up during weddings and festivals like Diwali and Dussera in the city, with a number of stores catering to the demand.

Gold Price in Gulbarga

Since a majority of the gold consumed in Gulbarga is imported, international gold prices dictate the amount one finally pays for it. Local taxes, demand and supply, import duty, etc. play a key role in estimating the price on a given day, with fluctuations in gold rates possible on a day to day basis.

Gold Rate Trend in Gulbarga for April 2021 to June 2021 (per gram of 24 karat gold)

Quarterly Gold Rate in Gulbarga from April to June 2021:

• Gold prices in Gulbarga in April started off at Rs.4,544 per gram for 24 karat gold, which also was the lowest price for the precious metal in the entire month in the city. Prices went on an incline from there to settle at the highest price point of Rs.4,920 per gram on 22 April and finally settling at Rs.4,599 per gram by the last day of the month. Overall, gold rates in Gulbarga in April stood at an incline with 1.21% bpercentage change.
• In May, the price of gold in Gulbarga started off at Rs.4,777 per gram which was also the lowest price throughout the month for the yellow metal in the city. Gold rates started increasing from then to settle at the highest price point of Rs.5,030 per gram by the last week of the month on 26 and 27 May. By 31 May, the price had settled at Rs.5,007 per gram making the overall trend of gold prices to be at an incline with a percentage change of 4.81%.
• Gold rates in Gulbarga in June opened at Rs.4,970 per gram and closed at Rs.4,728 per gram. The highest rate for the precious metal in the city was on 3 June at 4,991 per gram. The lowest price was also on the last day of the month at Rs.4,728 per gram on 30 June. The overall trend in gold prices in June in Gulbarga were on a decline with a percentage change of –4.86%.

Gold Rate Trend in Gulbarga for January 2021 to March 2021 (per gram of 24 karat gold)

Quarterly Gold Rate in Gulbarga from January 2021 to March 2021:

• Gold price in Gulbarga was Rs.4,919 per gram on 1 January and opened the year with an overall recorded for the month. The price of the precious metal declined in the middle of January to hit its lowest value at Rs.4,793 per gram on 17 January. However, as gold rates recovered, the metal’s value increased and closed at Rs.5,950 per gram on 31 January with an inclining rate of 1.56%.
• However, the gold rate in February declined in the market due to various factors affecting the international price of the metal. Opening at Rs.5,018 per gram on 1 February, the price of the metal was the highest on the day. The value of the yellow metal declined through the month and was at its lowest on 25 February at Rs.4,473 per gram and closed at Rs.4,771 per gram.
• Continuing its overall declining trend, gold price in Gulbarga opened the month of March at Rs.4,697 per gram and fluctuated heavily throughout the month due to the rising COVID-19 cases and the dollar value. On 31 March, gold prices hit its lowest level at Rs.4,511 per gram and closed the month, recording an overall decline of 3.96.

Gold Rate Trend in Gulbarga for October 2020 to December 2020 (per gram of 24 karat gold)

Quarterly Gold Rate in Gulbarga from October 2020 to December 2020:

• In Gulbarga, the gold rate was Rs.5,006 per gram on 1 October and saw a marginal decline in the overall trend of the metal’s value. The precious metal hit its highest price of the month on 13 October at Rs.5,254 per gram. On 21 October, the price of gold was at its lowest at Rs.5,116 per gram and closed the month at Rs.4,973 per gram on 31 October. The metal recorded an overall decline percentage of 0.17.
• Gold prices in Gulbarga in November opened at Rs.5,194 per gram on 1 November and was at its highest on 10 November at Rs.5,302 per gram. With the rise in risk appetite amongst investors, gold prices were at its lowest on 29 November at Rs.4,910 per gram and closed at Rs.5,146 per gram. The yellow metal recorded an overall monthly decline of 0.92.
• The rate of gold in December was Rs.4,877 per gram on 1 December and was at its lowest on the same day. With a rise in COVID-19 cases seen in many countries and hopes of an economic stimulus, gold prices increased and were at its highest on 21 December at Rs.5,138 per gram and closed at Rs.5,096 per gram on 31 December with an overall incline of 4.49%.

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

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

• In Gulbarga, gold price opened the month of July at Rs.4,984 per gram and was at its lowest price of the month in the first week at Rs.4,946 per gram. However, the gold rate in Gulbarga increased substantially throughout the month, closing at Rs.5,496 per gram with an inclining rate of 10.2%.
• In August, gold rate showed a gradual decline in prices as the equity markets showed a positive trend. Opening at Rs.5,501 per gram, the metal hit its highest price of the month on 8 August at Rs.5,761 per gram and its lowest on 29 August at Rs.5,066 per gram with a percentage decline of 3.75.
• The gold rate was Rs.5,127 per gram on 1 September and showed continuous fluctuations due to various international trends. The metal’s price was highest on 17 September at Rs.5,357 per gram and lowest on 26 September at Rs.4,946 per gram. Gold rate closed the month with a percentage decline of 0.85.

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

Quarterly Gold Rate in Gulbarga from April to June:

• In the city of Gulbarga, gold prices opened at Rs.4,053 per gram on 1 April and recorded a substantial incline. The price of the metal remained steady during the first week of the month and increased in the last. The metal hit its highest price at Rs.4,800 per gram on 27 April and closed at Rs.4,731 per gram with a 16.72% overall monthly incline.
• Gold rates in Gulbarga in May opened at Rs.4,681 per gram and was at its lowest on 6 May at Rs.4,587 per gram. However, with constant fluctuations, the metal hit its highest on 20 May at Rs.4,900 per gram and closed at Rs.4,803 per gram on 31 May.
• Recording an overall incline of 3.05% in June, gold prices opened at Rs.4,817 per gram on 1 June and hit its highest price on the last day of the month at Rs.4,991 per gram. Closing at the same price, the metal recorded an overall incline of 3.05%.

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

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

• Gold prices for the month of January in Gulbarga opened at Rs.3,860 per gram and closed at Rs.4,014 per gram. Gold prices fluctuated throughout the month. Overall, gold saw a 3.98% incline in its rates for the month. Several factors such as the trade deal between the US and China and the tensions between the Middle East and the US ensured that the prices of gold increased. Gold hit its lowest rate for the month on 2 January 2020 and was at Rs.3,848 for a gram. On 9 January 2020, gold prices hit its highest rate for the month and was at Rs.4,053 for a gram.
• Gold prices continued to increase in the month of February. The prices of gold opened the month at Rs.4,014 per gram. Gold did not see any changes to its prices on 1 February 2020 when compared to the last day of January. Gold hit its lowest rate for the month on 7 and 8 February and was at Rs.3,956 for a gram. However, in the following days, the prices of gold continuously increased as investors moved towards the bullion market due to the coronavirus outbreak. On 25 February 2020, gold hit its highest rate for the month and was at Rs.4,232 for a gram. Overall, gold saw a 4.50% increase in its rates for the month of February in Gulbarga.
• On 1 March 2020, the prices of gold opened at Rs.4,090 per grams. Gulbarga saw a 0.90% decline in its gold rates for the month. In the first week, gold prices increased significantly as investors were expecting the US Federal Reserve to cut the interest rates. Gold hit its highest rate for the month and was at Rs.4,368 for a gram on 7 March 2020. Over the following days, gold rates reduced drastically. The coronavirus outbreak led to investors selling their assets, ensuring that the prices of gold reduced. During this period, gold hits its lowest rate for the month and was at Rs.3,953 on 20 March 2020. The US Federal Reserves introduced several measure to help the economy during the pandemic, ensuring that the prices of gold increased by the end of the month. Gold closed the month at Rs.4,053 per gram.

Gold investment avenues in Gulbarga

Investing in gold is a popular choice in Gulbarga, with a number of people purchasing it during weddings and celebrations. Given the expense involved with gold, a majority of the population opts for either 18 or 22 karat purity, with 24 karat gold purchased by only a section of the city. Some of the modes to buy gold in Gulbarga are mentioned below.

Market trade – Market trade of gold hasn’t gained popularity in Gulbarga despite the ease and convenience associated with it. One can invest in gold through the National Stock Exchange and the Mumbai Stock Exchange, with the option to choose between gold ETFs, futures contracts and E-gold.

Over-the-counter – The most popular means of buying gold, over-the-counter purchases are fast and simple. One can approach any jeweller or bank to purchase gold, though banks typically offer only gold coins and bars. Individuals looking for gold jewellery can buy it from local jewellers, albeit jewellery isn’t the best way to invest in gold on account of wastage and making charges..