Gold Rate In Gulbarga

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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.

24 karat gold – Keen gold investors typically opt for 24 karat gold, either in the form of gold coins or bars, thanks to their high purity content (approx. 99.9%). One gram of pure 24 karat gold in the city costs Rs 2,974 (as of March 11, 2016), with this price subject to change on a regular basis. The price trend in the last three months has been on a high, with costs going up by close to Rs 400 since January. The year 2015 saw gold prices drop to a 5 year low, with it possible to buy gold for as cheap as Rs 2,510 per gram in the month of August.

22 karat gold – 22 karat gold is a popular investment choice among those who wish to buy jewellery. The cost per gram of 22 karat gold is about Rs 200 cheaper when compared to 24 karat gold. The current price for 1 gram of 22 karat gold in Gulbarga is about Rs 2,780 (as of March 11, 2016). A trend similar to 24 karat gold was witnessed when it came to gold rates in 2015, with August being a good time to buy gold, as prices dropped to around Rs 2,350 per gram. Since January 2016, gold rates have gone up from Rs 2,370 to end at the current mark.

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

Factor	January	February	March
1st day	Rs.3,002 per gram	Rs.2,998 per gram	Rs.2,987 per gram
Last day	Rs.3,045 per gram	Rs.3,014 per gram	Rs.3,109 per gram
Highest price	Rs.3,084 per gram on 20 and 21 January	Rs.3,031 per gram on 19 February	Rs.3,045 per gram from the 25th to the 29th
Lowest price	Rs.3,001 per gram on 4 January	Rs.2,951 per gram on 8 January	Rs.2,977 per gram on the 19th
Trend	Incline	Incline	Incline
Change	1.43%	0.53%	1.07%

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

Factor	October	November	December
1st day	Rs.2,985 per gram	Rs.2,942 per gram	Rs.2,932 per gram
Last day	Rs.2,942 per gram	Rs.2,947 per gram	Rs.2,941 per gram
Highest price	Rs.2,995 per gram on 16 October	Rs.2,981 per gram on 20 November	Rs.2,942 per gram from 2 to 4 December and 29 December
Lowest price	Rs.2,932 per gram on 27 October	Rs.2,907 per gram on 6 November	Rs.2,859 per gram on 13 December
Trend	Decline	Incline	Incline
Change	-1.90%	0.16%	0.30%

Gold Rate Trend in Gulbarga for October 2017:

• The final quarter of 2017 began in Gulbarga with gold trading at Rs.2,985 per gram. Gold prices would see considerable decline this month owing to poor local cues which was affected by a strong dollar.
• There were considerable fluctuations to be witnessed during the initial half of the month, with demand remaining uncharacteristically low despite the onset of a major festive season.
• Gold rate in Gulbarga were at their highest on the 16th when it traded at Rs.2,995 per gram as traders took advantage of a brief fall in the dollar.
• However, prices continued to dwindle from the 17th as demand remained mostly flat and even fell as days progressed.
• Gold price in Gulbarga were at their lowest this month on the 27th when the metal traded at Rs.2,932 per gram.
• Price trend saw a considerable decline this month with rates falling at a rate of 1.90% due to poor sales.

Gold Rate Trend in Gulbarga for November 2017:

• November’s gold trading took a positive turn as global cues was steady and the US dollar losing its lustre.
• On the 1st of November, gold was priced at Rs.2,942 per gram. The first week saw gold demand at its lowest for this month, which was seen as gold traded at a monthly low figure of Rs.2,907 per gram on the 7th.
• But, once the US dollar began to weaken amid a poor market, gold prices continued its gradual surge.
• The 20th saw gold price in Gulbarga hitting Rs.2,981 per gram figure - the highest rate for the entire month.
• But, there were fluctuations from the 21st onwards as there was no clear indication of a stable demand.
• When November came to an end gold was seen trading at Rs.2,947 per gram - a marginal high of Rs.5 from the prices seen on the 1st of the month.

Gold Rate Trend in Gulbarga for December 2017:

• December began in Gulbarga with gold trading at Rs.2,932 per gram.
• The 2nd and 3rd recorded the highest gold rates - with the metal trading at Rs.2,942 per gram - as demand was steady.
• However, demand was strongly swung by the tax reform introduced by US president Donald Trump, which caused the dollar to strengthen subsequently pushing gold rates down.
• Gold rate in Gulbarga went down to as low as Rs.2,896 per gram as the rallying of the US dollar continued, which caused gold demand to plummet.
• On the 13th, gold rates were at their lowest for the month. The metal traded at Rs.2,859 per gram as markets remained strong, which gave little incentive for bullion investors.
• Prices rallied as other concerns regarding Trump’s US presidency resurfaced. This, combined with a declining dollar led to consistent increase in gold prices.
• Price trend saw a 0.30% decline this month, thanks to a solid start to the given by strong investor sentiments.

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

Factor	July	August	September
1st day	Rs.2,950 per gram	Rs.2,878 per gram	Rs.2956 per gram
Last day	Rs.2,874 per gram	Rs.2,956 per gram	Rs.2,985 per gram
Highest price	Rs.2,950 per gram on 1 and 2 July	Rs.2,976 per gram on 29 August	Rs.3,056 per gram on 8 September
Lowest price	Rs.2,796 per gram on 14 July	Rs.2,845 per gram on 7 August	Rs.2,956 per gram on 1 September
Trend	Decline	Incline	Incline
Change	2.64%	2.63%	0.97%

Gold Rate Trend in Gulbarga for July 2017:

• July’s gold trading in Gulbarga was affected by GST, which was introduced by the central government on the 1st of July.
• The month began on a strong note with the yellow metal priced at Rs.2,950 per gram.
• Due to there being significantly low demand, gold rates were largely on the decline for most of the month.
• The low demand could be attributed to weak sales locally, which was the immediate effect of GST.
• Gold rate in Gulbarga went to a monthly low figure of Rs.2,796 per gram on the 14th of July as demand failed to pick up.
• However, rates improved towards the final two week to end at Rs.2,878 per gram on 31st July.
• Overall, there was a 2.64% decline in gold prices in Gulbarga, which was the effect of 3% GST implemented on gold.

Gold Rate Trend in Gulbarga for August 2017:

• August’s trading began on a relatively weak note, owing to GST and the impact it had on investor's’ mindset.
• Gold opened at Rs.2,878 per gram on the 1st of August.
• Due to the US dollar being steady and local trading remaining weak, gold rates in Gulbarga went down to Rs.2,845 per gram - on the 7th of August.
• The impending festive season and the destruction caused in the US by Hurricane Harry, led to gold prices in Gulbarga rising towards the end of the month.
• On the 29th of August, gold traded at Rs.2,976 per gram - the month’s highest rate.
• There was a 2.63%incline in gold rates caused by a weakened US dollar.

Gold Rate Trend in Gulbarga for September 2017:

• September, again, was a positive month for gold trading in Gulbarga. The month began with gold being priced at Rs.2,956 per gram.
• As the US-North Korea conflict reached a head, gold rates in Gulbarga rocketed to Rs.3,056 per gram on the 8th of September. This was also aided by the US economic data, which turned out to be lower than expected.
• However, the US dollar improved after the latest Federal Reserve meeting concluded that it is on track to raise the interest rates later in the year.
• Buoyed by a steady and rising dollar, gold rates seemed to flatline towards the latter half of the month.
• Diwali and Dhanteras demand pushed gold rates towards the final few days of the month, with the metal ending at Rs.2,985 per gram on the 30st of September.
• Overall, gold price in Gulbarga surged by 0.97% this month, thanks to a strong local demand.

Gold Rate Trend in Gulbarga for April 2017 to June 2017 (per gram of 24 karat gold)

Factor	April	May	June
1st day	Rs.2,910 per gram	Rs.2,945 per gram	Rs.2,920 per gram
Last day	Rs.2,945 per gram	Rs.2,918 per gram	Rs,2,933 per gram
Highest price	Rs.2,990 per gram on 15 and 16 April	Rs.2,945 per gram on 1 May	Rs.2,965 per gram on 8 June
Lowest price	Rs.2,905 per gram per gram on 10 April	Rs.2,840 per gram from 11-14 May	Rs.2,895 per gram on 20 June
Trend	Incline	Decline	Incline
Change	1.20%	-0.91%	0.44%

Gold rate trend in Gulbarga for April 2017

• The gold rate in Gulbarga was on the increase as retail demand for gold was high.
• Gold traded at Rs.2,910 per gram on 1 April and rose to Rs.2,925 per gram on 6 & 7 April as the U.S. dollar slid on news of fresh investigations into Russian interference in the U.S. presidential election.
• Prices dipped due to a drop in industrial offtake from Asia, resulting in gold trading at Rs.2,905 per gram on 10 April.
• Fluctuating demand from Europe led to gold prices reached Rs.2,990 per gram on 15 April as markets were shaky ahead of elections in France, which increased demand for the yellow metal.
• Local demand was still muted due to the end of the wedding season, which brought down prices to Rs.2,965 per gram on 24 April.
• A rally by the dollar and markets saw demand for gold crash as the month drew to a close, resulting in the metal trading at Rs.2,920 per gram on 26 April before closing the month at Rs.2,945 per gram on 30 April.

Gold rate trend in Gulbarga for May 2017

• Gold prices in May were unchanged as the month began, trading at Rs.2,945 per gram on 1 May.
• There was a decline in demand due to buoyant markets as a result of Emmanuel Macron;s victory in the French presidential election.
• Gold was priced at Rs.2,850 per gram on 7 & 8 May and fell to Rs.2,840 per gram from 11-14 May as local and overseas demand declined sharply.
• A revival in interest in gold was seen towards the middle of the month as the euphoria of the Eurozone’s muted by allegations of Russian collusion in the victory of Donald Trump’s campaign.
• Gold prices rose to Rs.2,908 per gram on 20 May as investors turned their attention to safe-haven assets like bullion due to plunging stocks.
• Prices rose to Rs.22,930 per gram on 27 May before dropping slightly as the month ended, trading at Rs.2,918 per gram on 31 May.
• Gold prices fell by 0.91% over the course of the month.

Gold rate trend in Gulbarga for June 2017

• Gold prices rose at the start of June, trading at Rs.2,933 per gram on 1 June and rising to Rs.2,960 per gram on 6 June as the U.S. markets were in turmoil over the planned overhaul of the healthcare system as well as the continued investigation into the Trump administration’s Russia links.
• Prices stabilised as the month progressed, with demand dropping slightly due to declining demand from the local jewellery sector.
• Increased interest from Asian markets kept prices at Rs.2,930 per gram on 13 June before prices dropped to Rs.2,910 per gram on 17 June.
• The G20 summit helped boost markets which resulted in a decline in interest in gold, as prices fell to a monthly low of Rs.2,895 per gram on 20 June.
• There was a marginal recovery in the price of gold in Gulbarga as local industrial demand rose prior to GST coming into effect.
• Prices rose to Rs.2,960 per gram on 28 June due to a sudden slide in market performance before gold prices settled at Rs.2,920 per gram on 30 June.

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

Factor	January	February	March
1st day	Rs.2,820 per gram	Rs.2,945 per gram	Rs.3,005 per gram
Last day	Rs.2,930 per gram	Rs.3,005 per gram	Rs.2,900 per gram
Highest price	Rs.2,970 per gram on the 23rd and 24th of January	Rs.3,005 per gram on the 27th and 28th of February	Rs.3,005 per gram on the 1st of March
Lowest price	Rs.2,820 per gram on the 1st and 2nd of January	Rs.2,940 per gram on the 10th of February	Rs.2,855 per gram on the 15th of March
Trend	Incline	Incline	Decline
Change	3.90%	2.03%	-3.49%

Gold Rate Trend for Gulbarga in January 2017

• At the beginning of the month, the price of gold in Gulbarga was slightly low due to relatively low demand, trading at Rs.2,820 per gram. Gold was steady at this rate the next day as well. This was also the lowest at which this metal traded at for the month in Gulbarga.
• A marginal rise was noted from the 3rd of January due to a continued demand for this yellow metal from jewellers, resulting in gold trading at Rs.2,890 per gram on the 10th of January.
• From the 12th of January, gold traded at Rs.2,920 per gram until the 15th due to the harvest festival of Sankranti and further increased as the week progressed.
• Gold was priced at Rs.2,970 per gram on the 23rd and 24th of January, making this rate the highest at which gold traded at for the month. However, after this, the rate of gold reduced marginally, closing at Rs.2,930 per gram recording a rise of 3.90% in the rate of gold.

Gold Rate Trend for Gulbarga in February 2017

• This precious metal was priced at Rs.2,945 per gram on the 1st of February which was one of the lower rates due to reduced demand from jewellers.
• Gold was steady at this price until the 5th of February after the rate of gold increased by Rs.10.
• As the weeks continued, the rate of gold continued to rise with a few minor fluctuations.
• On the 16th of February, gold was priced at Rs.2,970 per gram before rising to Rs.2,980 per gram on the 17th of February.
• Towards the end of February, the rate of gold increased to Rs.2,995 per gram due to a fall in the value of the U.S.Dollar. This rate was noted from the 24th of February to the 26th of February.
• The final two days of the month saw gold trading at Rs.3,005 per gram which was also the highest rate at which gold traded for the month.
• As the month ended, a 2.03% incline in the rate of this precious metal was noted.

Gold Rate Trend for Gulbarga in March 2017

• Gold traded at Rs.3,005 per gram on the 1st of March due to a high demand for this metal from both domestic as well as international markets. This was also the highest rate at which gold traded at for the month.
• However, this demand was not sustained and the next day the rate of gold dropped to Rs.2,990 per gram before reducing even further as the month progressed.
• There were a number of fluctuations noted in the rate of gold throughout the month due to fluctuations in the demand for this metal.
• On the 15th of March, the rate of gold fell to a monthly low of Rs.2,855 per gram due to the Dutch Elections and U.S. Fed Reserve’s decision regarding interest rates. However, a marginal recovery was noted in the rate of gold over the next few days.
• On the final day of the month, gold was priced at Rs.2,990 per gram recording a decline of 3.49% in the price of this metal in Gulbarga.

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..