Gold Rate In Guntur

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Gold Price in Guntur

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 July 2018 to September 2018 (per gram of 24 karat gold)

Factor	July	August	September
1st day	Rs.3,059 per gram	Rs.2,983 per gram	Rs.3,029 per gram
Last day	Rs.2,986 per gram	Rs.3,036 per gram	Rs.3,074 per gram
Highest price	Rs. 3,071 per gram on 6 July	Rs.3,036 per gram on 31 August	Rs.3,090 per gram on 25 and 26 September
Lowest price	Rs.2,986 per gram on 31 July	Rs.2,940 per gram on 16 August	Rs.3,019 per gram on 3 September
Trend	Decline	Incline	Incline
Change	-2.38%	1.77%	1.48%

Gold rate trend in Guntur for July 2018

• Gold in Guntur was experiencing a declining trend at the start of the month as domestic demand for the metal was dented.
• On 1 July, the yellow metal was trading at Rs.3,059 per gram. The rupee declined in value during this point while domestic demand was still on the decline.
• On 6 July gold price was at its peak when it stood at Rs.3,071 per gram. Demand for the metal finally picked up. However, the dollar was on the uprise causing the price of gold to dip in the upcoming days.
• Gold then plummeted steadily and reached its lowest price for the month when it traded at Rs.2,986 per gram on 31 July.

Gold rate trend in Guntur for August 2018

• In the beginning of August, the metal was priced at Rs.2,983 per gram.
• Fluctuation in gold prices was recorded for the remainder of the month that can be associated with the constant change in demand.
• On 16 August, the metal was trading at Rs.2,940 per gram.
• Demand for gold increased towards the end of the month leading to the price surging to its highest point at the end of the month.
• On 31 August, the precious metal was priced at Rs.3,036 per gram.
• Gold prices for the month recorded an upward trend of 1.77%.

Trend of Gold Rate in Guntur for April 2018 to June 2018

Parameters	April	May	June
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
Percentage Change	1.66%	0.25%	-1.32%

 

Gold Rate Trend in Guntur for April 2018:

• The month commenced with gold price in Guntur holding at Rs.3,072 per gram on the 1st amid poor overseas trends.
• With the greenback gaining against a basket of other apex currencies, demand for the metal dropped. This led to gold being priced at Rs.3,064 per gram on the 6th.
• With diplomatic relations deteriorating between the US and North Korea, safe-haven demand for the metal surged and gold rate in Guntur was recorded holding at Rs.3,153 per gram on the 19th.
• The month ended with gold trading at Rs.3,123 per gram on the 30th, registering a rise of 1.66% in gold prices during the course of the month.

Gold Rate Trend in Guntur for May 2018:

• The second month of Q2 2018 opened with gold priced at Rs.3,114 per gram with local demand suppressed by the rising dollar and equities.
• Gold price in Guntur plummeted to a monthly low of Rs.3,103 per gram on the 3rd with investor demand capped by the weak market trend overseas.
• Demand, however, improved over the next two weeks as the dollar lost against a basket of other emerging currencies and gold was recorded trading at Rs.3,213 per gram on the 15th.
• Trading concluded for the month with gold rate in Guntur holding at 3,122 per gram on the 31st, recording an incline of 0.25% in prices during the month.

Gold Rate Trend in Guntur for June 2018:

• The last month of the second quarter commenced with gold priced relatively lower at Rs.3,100 per gram with domestic markets on the decline amid the strong US dollar and equities.
• However, an incline in investor demand brought about by positive market cues led to gold price in Guntur touching a monthly high of Rs.3,127 per gram on the 15th.
• The next few days saw demand dropping considerably with traders and jewellers refraining from making purchases amid the weak trend overseas and gold was priced at Rs.3,054 per gram on the 24th.
• The month came to an end with gold rate in Guntur closing at Rs.3,059 per gram on the last day, registering a drop of 1.32% in bullion trade during the month.

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

Factor	January	February	March
1st day	Rs.3,005 per gram	Rs.3,040 per gram	Rs.3,043 per gram
Last day	Rs.3,045 per gram	Rs.3,046 per gram	Rs.3,072 per gram
Highest price	Rs.3,086 per gram on 16 January	Rs.3,103 per gram on 14 February	Rs.3,105 per gram on 24 and 25 March
Lowest price	Rs.3,000 per gram on 4 January	Rs.3,003 per gram on 8 February	Rs.3,030 per gram on 19 March
Trend	Incline	Incline	Incline
Change	1.33%	0.19%	0.95%

Gold Rate Trend in Guntur for January 2018:

• Gold was priced at Rs.3,005 per gram when trading started for the first month of 2018.
• This month saw gold prices decline over the initial few days before dropping as the days progressed.
• The yellow metal’s rates were at their lowest for the month on the 4th when it was recorded at Rs.3,000 per gram.
• During the next two weeks, gold rates improved as demand for the metal surged ahead of a rise in local demand.
• Gold rates in Guntur were at their highest for this month on the 16th when it traded at Rs.3,086 per gram.
• As local demand seemed to fluctuate, gold rates consolidated towards the end of the month to end at Rs.3,045 per gram.
• January’s trading recorded a 1.33% owing to stable local demand and positive global outlook.

Gold Rate Trend in Guntur for February 2018:

• When February opened for trading on the 1st, gold rates had dropped to Rs.3,040 per gram.
• The first week’s trading was hindered by a poor demand which was brought about by weak cues and the subsequent weakening in demand.
• Gold was at its lowest point in Guntur this month when it traded at Rs.3,008 per gram after the US dollar strengthened, pushing bullion investors away.
• From the 9th, the yellow metal’s rates improved slowly but steadily as happenings around the country as well as the rise in demand helped with the sales.
• On the 14th, the Valentine’s day, gold rates in Guntur were at their highest. It traded at Rs.3,103 per gram as demand from jewellers surged.
• Demand consolidated and gold price dropped to Rs.3,046 per gram on the final day of the month.
• Price trends recorded a marginal 0.19% incline this month, which would have been slightly higher if not for the capitulation in demand.

Gold Rate Trend in Guntur for March 2018:

• March’s trading started with gold being priced at Rs.3,043 per gram.
• Gold rates were largely steady for the first three week, before dropping to monthly low figures during the third week.
• The metal traded at Rs.3,030 per gram on the 19th as demand weakened around this point - the lowest price for the month.
• The next week recorded a significant bump in gold prices and a highest rate of Rs.3,105 per gram was recorded on the 24th and 25th.
• As demand dropped, gold rates also dropped over the final few days and the metal traded at Rs.3,072 per gram.
• A 0.93% month-on-month rise in price trends was recorded during March’s trading.

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

Factor	October	November	December
1st day	Rs.3,040 per gram	Rs.2,974 per gram	Rs.2,982 per gram
Last day	Rs.2,996 per gram	Rs.2,996 per gram	Rs.3,015 per gram
Highest price	Rs.3,059 per gram on 14 and 15 October	Rs.3,030 per gram 18 to 20 November	Rs.3,015 per gram on 30 and 31 December
Lowest price	Rs.2,996 per gram on 31 October	Rs.2,974 per gram on 1 and 6 November	Rs.2,906 per gram on 13 December
Trend	Decline	Incline	Incline
Change	-1.44%	0.73%	1.10%

Gold Rate Trend in Guntur for October 2017:

• The month began with the yellow metal trading at Rs.3,040 per gram on the 1st amid firm trend overseas.
• However, possibilities of an interest rate hike by the US Federal Reserve resulted in the dollar rising against a basket of other currencies. This led to gold rate in Guntur dropping to Rs.2,997 per gram on the 6th.
• Domestic demand from jewellers and retailers surged with the festive season around the corner. This led to prices rising to Rs.3,027 per gram on the 9th.
• Gold rate in Guntur hit their highest recorded monthly figure of Rs.3,059 per gram on the 14th with strong local demand amid the positive global trends.
• On the 20th, with the US dollar recovering from the previous days’ losses, bullion rates plunged to Rs.3,026 per gram.
• The strong US dollar index coupled with firmer equities brought about by speculating on the possible Fed rate hike during the quarter led to gold rate in Guntur closing at Rs.2,996 per gram on the last day. This was also the lowest recorded monthly figure in the city.
• Guntur witnessed gold prices declining by 1.44% amid the poor global cues during the month.

Gold Rate Trend in Guntur for November 2017:

• Trading commenced for the month with the bullion priced at Rs.2,974 per gram on the 1st with declining demand for the metal.
• With the dollar gaining against other apex currencies amid the well-performing equities, the precious metal prices plunged to Rs.2,974 per gram on the 6th.
• The geopolitical crisis in the US and the Korean Peninsula resulted in an increased safe-haven demand around the world. This led to gold rate in Guntur rebounding to Rs.3,015 per gram on the 10th.
• Strong global cues coupled with an increased domestic demand from local jewellers, industries and retailers resulted in gold being priced at Rs.3,030 per gram on the 19th.
• However, with the US tax reform plan being produced in the US Senate by the US President, the dollar regained lost ground. This resulted in the yellow metal prices plunging to Rs.3,009 per gram on the 28th.
• When trading ended for the month, the precious metal was recorded trading at Rs.2,998 per gram amid the poor trends overseas and Guntur recorded an incline of 0.73% in the bullion trade during the course of the month.

Gold Rate Trend in Guntur for December 2017:

• Trading opened in Guntur with the yellow metal prices holding at Rs.2,982 per gram following a decline in demand from jewellers, retailers and industries amid poor global cues.
• The 5th witnessed gold rates plunging to Rs.2,968 per gram after the US dollar rose against the basket of other emerging currencies with the approval of the landmark US tax reform plan.
• The strong dollar performance coupled with gaining equities resulted in prices declining considerably during the month.
• Gold was recorded trading at Rs.2,908 per gram on the 12th before plummeting to a monthly low of Rs.2,906 per gram the next day after investors refrained themselves from making purchases ahead of the Federal Reserve meeting.
• However, the dollar lost its sheen following the Fed rate hike, thus, pushing demand higher for the safe-haven metal. Gold was recorded trading at Rs.2,933 per gram on the 19th.
• With investors gravitating towards safe-haven assets such as the bullion to hedge against the tax system overhaul concerns, gold rate Guntur rose to Rs.2,956 per gram on the 23rd.
• A decline in the Asian stocks following the new tax cuts resulted in the dollar and equities losing in the global markets.
• Strong trends overseas coupled with an increased domestic demand resulted in the bullion being priced at Rs.3,015 per gram on the 31st, and Guntur registered an incline of 1.10% in gold rates during the month of December.

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

Factor	July	August	September
1st day	Rs.2,950 per gram	Rs.2,931 per gram	Rs.2,997 per gram
Last day	Rs.2,920 per gram	Rs.2,965 per gram	Rs.3,040 per gram
Highest price	Rs.2,950 per gram on 1 July	Rs.2,980 per gram on 29 August	Rs.3,100 per gram on 8 September
Lowest price	Rs.2,800 per gram on 14 July	Rs.2,900 per gram from 5 to 8 August	Rs.2,997 per gram on 1 September
Trend	Decline	Incline	Incline
Change	-1.01%	1.16%	1.43%

Gold Rate Trend in Guntur for July 2017:

• Gold prices in Guntur this month were largely impacted by the official introduction of the Goods and Services Tax bill.
• The month of July began on a strong note with the yellow metal trading at Rs.2,950 per gram.
• Rates recorded on the 1st was the highest for the month - which serves as a perfect indication of how the precious metal throughout July.
• The newly approved 3% GST on gold saw demand for the metal drop significantly. This was then compounded by weak cues globally.
• By the 9th, gold rates in Guntur fell to as low as Rs.2,869 per gram and - going by the signs - prices would fall considerably over the next few days.
• On the 14th of July, gold rates in Guntur hit the lowest for the month of Rs.2,800 per gram as GST stifled demand for the yellow metal.
• Strong global cues along with a relatively improved demand saw gold rates improve over the second half of this month.
• Gold demand picked up for the metal to trade at Rs.2,920 per gram on the 27th.
• After considerable fluctuations, gold rates solidified to end the month at Rs.2,920 per gram. There was a 1.01% drop in gold rates compared to the previous month.

Gold Rate Trend in Guntur for August 2017:

• The month of August helped gold trading get back onto the positive side as the Indian bullion industry shook itself off the GST stronghold.
• On the 1st of August, gold was priced at Rs.2,931 per gram - a further Rs.20 improvement from the previous day’s rates.
• But, with local demand remaining low amidst a strong US dollar, gold rates went down to as low as Rs.2,900 per gram on the 5th and continuing on till the 8th of the month.
• The US economy’s fall from grace led to the yellow metal’s rates improving. Gold traded at Rs.2,944 per gram on the 10th and saw further improvement to trade at Rs.2,977 per gram on the 12th.
• Rates picked up over the final stretch of August to record the highest gold rate of Rs.2,980 per gram on the 28th.
• However, a recurrent weak demand pushed prices down to Rs.2,980 per gram on the final day of the month.
• An improved demand aided by a weak US stock market saw gold rate in Guntur trends increase by 1.16% for this month.

Gold Rate Trend in Guntur for July 2017 to September 2017:

• During September, gold rates improved further as a result of various Indian and international factors.
• On the first of the month, gold was priced at Rs.2,997 per gram.
• Prices rocketed to Rs.3,100 per gram on the 8th as the US - North Korea conflict pushed safe-haven purchases to a whole new level.
• With the US stock markets recovering from the initial shock, gold rates climbed down to remain in the sub-Rs.3,040 per gram range for much of the month.
• When the month came to a close, gold prices were holding at Rs.3,030 per gram.
• There was a 1.43% increase in price trends which was brought about by a major geopolitical concerns ruling the world market.

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

Factor	April	May	June
1st day	Rs.2,956 per gram	Rs.2,984 per gram	Rs.2,977 per gram
Last day	Rs.2,984 per gram	Rs.2,968 per gram	Rs.2,962 per gram
Highest price	Rs.3,040 per gram on 15 & 16 April	Rs.2,984 per gram on 1 May	Rs.3,030 per gram on 7 June
Lowest price	Rs.2,954 per gram on 8 & 9 April	Rs.2,888 per gram on 15 May	Rs.2,942 per gram on 20 June
Trend	Incline	Decline	Decline
Change	0.94%	-0.53%	-0.05%

Gold rate trend in Guntur for April 2017

• The price of gold in Guntur fluctuated in the month of April, opening at Rs.2,956 per gram and reaching Rs.2,983 per gram on 5 April.
• Prices fell to Rs.2,954 per gram on 8 April in spite of a weak U.S. dollar as demand from Asian countries as well as reduced local demand led to reduced offtake.
• Gold staged a comeback and traded at Rs.3,010 per gram on 12 April as markets were weak following poor economic data from the U.S. jobs market.
• Prices rose to Rs.3,040 per gram on 15 April as investors looked to gold to recoup their stock market losses.
• Gold prices were more or less steady for a week or two before a decline in demand from the overseas industrial sector led to prices falling to Rs.2,998 per gram on 25 April.
• Prices continued to dip as markets rose on the possibility of a victory by the Euro-centric Emmanuel Macron in the French election.
• Gold ended the month trading at Rs.2,984 per gram on 30 April, recording an increase in price of 0.94%.

Gold rate trend in Guntur for May 2017

• Gold rates were on the decline as May began, trading at Rs.2,984 per gram on 1 May and falling to Rs.2,899 per gram on 7 May as the victory of Emmanuel Macron led to a surge in the markets.
• Reflecting global trends, local demand was also poor, resulting in gold prices remaining low till the middle of the month and trading at Rs.2,892 per gram on 14 May.
• Prices rose marginally due to renewed interest in the metal from Asian markets as the U.S. dollar fluctuated on news of poor jobs data, trading at Rs.2,956 per gram on 18 May.
• Falling markets led to an increase in demand for the yellow metal whose price rose to Rs.2,979 per gram on 23 May.
• An increase in demand from local jewellers kept prices consistent in spite of fluctuating demand from overseas, as gold rose to Rs.2,984 per gram on 30 May.
• Prices dipped on the last day of the month as gold closed at Rs.2,963 per gram, with prices falling by 0.53% over the course of the month.

Gold rate trend in Guntur for June 2017

• Demand for gold was strong as the month began, with gold trading at Rs.2,985 per gram on 1 June before rising to Rs.3,030 per gram on 7 June.
• Ongoing investigations into Russia’s links to the Trump presidency as well as poor jobs data led to markets falling, which increased demand for safe-haven assets like gold.
• Prices dipped slightly due to reducing local demand, which led to gold trading at Rs.2,981 per gram on 11 June.
• Decreased demand from Asian markets as well as a slight recovery by U.S. markets led to reduced demand for gold, in spite of the dollar remaining low.
• Prices fell to Rs.2,949 per gram on 19 June as bullon suffered a setback due to increased trade in crude and speculation.
• Poor local demand also led to prices remaining low, though overseas demand helped boost prices to Rs.2,964 per gram on 24 June.
• Prices fluctuated in the last few weeks of June, with gold trading at Rs.2,977 per gram on 26 June before falling to close the month at Rs.2,967 per gram on 30 June.

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 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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