Gold Rate In Guntur

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The yellow precious metal has witnessed a rally (gold prices have increased by 16%) in world markets in 2016. This, despite weak overall demand, robust equities and strong US data which may result in tight monetary policy in the US, according to analysts. Various national factors also affect the price of gold in India such as import duties, underperforming economy, inflation in India, current account deficit and the rupee-dollar fluctuations among others.

Guntur is one of the commercial hubs along the east coast of Bay of Bengal in Andhra Pradesh. Guntur is considered a major centre for industry and business. Gold is widely bought in Guntur district in many forms. Gold rates in Guntur depend on rates of the precious metal in India and abroad. Gold is extensively used in the form of temple jewelry as an offering to idols. Gold is also in demand on all auspicious occasions including weddings and festivals.

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

Factor	January	February	March
1st day	Rs.2,821 per gram	Rs.2,965 per gram	Rs.2,990 per gram
Last day	Rs.2,954 per gram	Rs.3,003 per gram	Rs.2,940 per gram
Highest price	Rs.2,978 per gram on 23rd January	Rs.3,014 per gram on the 25th and 26th of February	Rs.2,994 per gram on the 2nd of March
Lowest price	Rs.2,821 per gram on 1st January	Rs.2,944 per gram on the 4th and 5th of February	Rs.2,900 per gram on 15th of March
Trend	Incline	Incline	Decline
Change	4.71%	1.28%	-1.67%

Gold Rate Trend for Guntur in January 2017

• On the first day of the new year, gold traded at Rs.2,821 per gram due to low demand for this metal. This was also the lowest at which gold traded for the month.
• There was a marginal rise in the rate of gold over the next few days due to slow demand for this metal.
• At the end of the first week of January the rate of gold rose up to Rs.2,872 per gram and stayed at this rate the next day as well.
• There was an improvement in the rate of gold from the 14th of January onwards due to the harvest festival of Sankranti in Guntur. Gold was priced at Rs.2,941 per gram on the 14th and 15th of January before continuing to rise.
• There were a number of variations noted in the rate of gold towards the end of January with gold trading between Rs.2,962 per gram and Rs.2,913 per gram between the 21st of January and 27th of January.
• On the last day of the month, gold was priced at Rs.2,954 per gram, with a rise of 4.71% in the price of gold.

Gold Rate Trend for Guntur in February 2017

• On the first day of February, gold was priced at Rs.2,965 per gram and fell the next day to trade at Rs.2,954 per gram.
• However, due to a fall in the demand for this metal, the rate of gold fell to Rs.2,944 per gram on the 4th of February. This rate was also noted on the 5th of February.
• There was a marginal improvement in the rate of gold as the week progressed with this metal trading at Rs.2,964 per gram on the 11th and 12th of February after which prices dropped again.
• The rate of this precious metal rose up again on the 17th of February to trade at Rs.2,988 per gram.
• Gold traded at its highest rate on the 25th and 26th of February wherein it was priced at Rs.3,014 per gram. However, this rate could not be sustained and at the end of the month, gold traded at Rs.3,003 per gram recording a rise of 1.28% in the price.

Gold Rate Trend for Guntur in March 2017

• Gold traded at a promising rate of Rs.2,990 per gram on the first of the month before rising to the monthly high price of Rs.2,994 per gram.
• However, these rates could not be sustained due to a fall in the demand for this precious metal resulting in gold trading between Rs.2,972 per gram and Rs.2,951 per gram between the 3rd and 9th of March.
• The rate of gold continued to fall with gold trading at Rs.2,900 per gram on the 15th of March which was also the lowest at which gold traded during the month. This could be attributed to the Dutch Elections and the decision of the U.S. Fed Reserve regarding the rate of interest.
• Towards the end of the month, the rate of gold fell, with a few minor variations here and there. On the last day of the month gold traded at Rs.2,940 per gram recording a decline of 1.67% in the price of this precious metal.

Gold Rate Trend in Guntur for October 2016 to December 2016 (per gram of 24 karat gold)

Factor	October	November	December
1st day	Rs.3,152 per gram	Rs.3,065 per gram	Rs.2,893 per gram
Last day	Rs.3,067 per gram	Rs.2,942 per gram	Rs.2,821 per gram
Highest price	Rs.3,152 per gram on 1st & 2nd October	Rs.3,166 per gram on 9th November	Rs.2,895 per gram on 2nd December
Lowest price	Rs.3,021 per gram on 15th & 16th October	Rs.2,914 per gram on 25th November	Rs.2,767 per gram on 26th December
Trend	Decline	Decline	Decline
Change	-2.69%	-4.01%	-2.48%

Gold Rate Trend for Guntur in October 2016

• The first week of October saw gold prices in Guntur trade at Rs.3,152 per gram on sustained demand from the industrial sector as well as increased retail demand due to the festive season.
• Prices dropped steeply in the second week as the U.S. Dollar strengthened on positive economic data, leading to a dip in demand for bullion.
• Markets also stabilised, which kept demand for gold low, as industrial demand began to decrease.
• Speculation over the results of the U.S. presidential election led to stock markets fluctuating, which led to a slight rise in demand for gold as the month ended.
• The price of gold fell by 2.69% during the month, closing at Rs.3,067 per gram due to fluctuating markets.

Gold Rate Trend for Guntur in November 2016

• Gold prices in Guntur increased in the first week of November as market speculation over the U.S. presidential election coupled with higher industrial demand led to gold trading at Rs.3,065 per gram.
• Prices rose as news of Donald Trump’s victory led to markets crashing, though domestic demand was muted.
• The demonetisation of high-value currency notes led to domestic markets falling, which boosted demand for gold.
• Prices dropped as a cash shortage gripped the country in the days following demonetisation, which led to reduced demand for gold during the festive season.
• Prices stayed low as gold dropped by over 4% to trade at Rs.2,942 per gram on 30th November.

Gold Rate Trend for Guntur in December 2016

• Lower than expected demand kept the price of gold low in December, as the cash shortage continued, resulting in gold trading at Rs.2,893 per gram on 1st December.
• Prices were stable as international demand was steady, but dropped in the second week due to declining interest in bullion.
• Domestic demand was poor, and prices fell still further due to reduced demand overseas.
• The festive season led to increased spending, which kept investor sentiment high and led to a reduction in demand for gold.
• Prices dropped to a quarterly low of Rs.2,767 per gram on 26th December as both domestic as well as international demand for gold fell sharply.
• Prices recovered marginally as the month ended, with gold trading at Rs.2,821 per gram on increasing interest over fears of an industrial slowdown in Asia in the coming year.

Gold Rate Trend in Guntur for July 2016 to September 2016 (per gram of 24 karat gold)

Factor	July	August	September
1st day	Rs.3,127.50 per gram	Rs.3,215 per gram	Rs.3,132 per gram
Last day	Rs.3,214 per gram	Rs.3,148 per gram	Rs.3,169 per gram
Highest price	Rs.3,214 per gram on 30th and 31st July	Rs.3,224 per gram on 3rd August	Rs.3,195 on 8th September
Lowest price	Rs.3,127.50 per gram on 1st July	Rs.3,148 per gram on 31st August	Rs.3,132 on 1st September
Trend	Incline	Decline	Incline
Change	+2.77%	-2.08%	+1.18%

Gold Rate Trend of Guntur in July 2016

• Gold traded at Rs.3,127.50 per gram on 1st July.
• Demand for the metal picked up in the domestic and global markets.
• The U.S. Federal Reserve raised expectations of a rate hike leading to a fall in gold prices.
• Gold managed to recover as domestic demand was stable.
• There was an incline of 2.77% in gold prices this month.

Gold Rate Trend of Guntur in August 2016

• Demand for gold stayed on the higher rungs at the start of this month.
• Gold traded at Rs.3,215 per gram at the start of the month.
• On 3rd August, gold prices climbed to their highest for the month, trading at Rs.3,249 per gram.
• Investors sentiments were bullish driving demand for the metal higher.
• Towards the latter half of the month, anticipation of a Fed rate hike grew stronger and investors were reluctant to take on gold.
• By 31st August, gold prices declined to Rs.3,148 per gram which was the lowest price for this month.
• The trend this month was a decrease in gold prices by 2.08%.

Gold Rate Trend of Guntur in September 2016

• The market continued to be bearish at the start of the month.
• Gold traded at Rs.3,132 per gram on 1st September.
• By 8th September, gold prices reached Rs.3,195, the highest price for this month.
• Demand in the global and domestic market picked up as the U.S. Federal Reserve postponed the rate hike to December.
• There was an increase of 1.18% in gold prices this month.
• Gold traded at Rs.3,169 per gram on 30th September.

Gold Rate Trend in Guntur for April 2016 to June 2016 (per gram of 24 karat gold)

Factor	April	May	June
1st day	Rs. 2,894 per gram	Rs. 3,069 per gram	Rs.2,918 per gram
Last day	Rs. 3,069 per gram	Rs. 2,916 per gram	Rs.3,103 per gram
Highest price	Rs.3,070 per gram on 30th of April	Rs. 3,073 per gram on the 7th and 8th of May	Rs.3,180 per gram on 27th June
Lowest price	Rs. 2,934 per gram on the 15th of April.	Rs. 2,900 per gram on the 30th of May	Rs.2,911 per gram on 3rd June
Trend	Rising	Decline	Increase in price
Change	Rs. 165 per gram	Rs. 153 per gram	+6.33% increase

Gold Rate Trend of Guntur in April 2016

• Gold prices were recorded at Rs. 2,905 per gram on the first of April and fluctuated over the course of the month.
• Marginal losses were written off by subsequent gains as the month progressed with.
• The highest price recorded in the month of April was on the last day of the month when rates soared to Rs.3,070.
• The overall increase in rates when comparing prices on the first day and the last day of the month was Rs. 165.

Gold Rate Trend of Guntur in May 2016

• Gold prices were recorded at Rs.3,069 on the 1st of May and fluctuated over the course of the month.
• Small declines in gold prices were overshadowed by marginal increases as the month progressed.
• The overall decline in rates at the end of the month in comparison with the first day of the month was Rs.153.

Gold Rate Trend of Guntur in June 2016

• Gold prices in Guntur were on the rise due to market forces and increased domestic demand.
• Demand rose domestically in spite of a global trend of falling gold sales due to market stability at the start of the month.
• Equities fell as the British referendum drew close, with the markets falling sharply and gold demand rising as the results were announced.
• Gold prices were recorded at Rs.3,103 per gram after a high of Rs.3,180 per gram.

Gold as an investment in Guntur

Gold is seen as a safe and traditional form of investment in Guntur. Gold bars are one of the most preferred forms of investment in Guntur. Gold is widely viewed as a safe haven asset and therefore, considered a robust investment option and a valuable hedge against inflation in the long run.

Physical Gold: Gold is widely sold and bought in the form of jewelry, Gold bars and Gold coins. Customers can buy Gold coins from banks. There are various top jewelry stores in Guntur such as Kalyan Jewelers, Malabar gold and Tanishq among others. Intricate wedding jewelry of various designs is highly sought-after by most consumers in Guntur.

Gold contracts: Spot and future gold contracts are available in India in MCX (Multi Commodity Exchange), NSEL (National Spot Exchange) and NCDEX (National Commodity & Derivatives Exchange). MCX Gold contracts are available in two variants - 1 kg and 100 grams (Gold Mini contract).

Gold as an investment in Guntur

The price of gold has been on the rise in 2016. 1 gm of 24 karat gold was pegged at Rs.2588 on January 4th, 2016, registering a 0.7% increase from Rs.2568 on December 12th, 2015. The price of the precious metal plummeted throughout 2015 barring mini-rallies. 1 gm of 24 karat gold which was pegged at Rs.2711 on March 28th, 2015, rose by 2.9% to touch Rs.2791 in the middle of May 2015. The price of the precious metal, however, fell by -3% to Rs.2707 on June 16th, 2015. Gold rates further fell to Rs.2601 in the month of August. The downward trend continued in the following months of September and October as gold rates fell by an average of -06% to Rs.2690. This year, however, the price of gold, rose in the month of February 2016 reaching a peak on February 29th, 2016 at Rs.3016. Gold rates in Guntur hovered around the figure for the following days and rose by 0.6% to Rs.3037 as on March 9th, 2016.

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