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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 October 2020 to December 2020 (per gram of 24 karat gold)
|1st Day||Rs.5,066 per gram||Rs.5,194 per gram||Rs.5,111 per gram|
|Last Day||Rs.4,998 per gram||Rs.4,876 per gram||Rs.5,331 per gram|
|Highest Price||Rs.5,131 per gram on 12 October||Rs.5,302 per gram on 10 November||Rs.5,373 per gram on 22 December|
|Lowest Price||Rs.4,904 per gram on 20 October||Rs.4,876 per gram on 30 November||Rs.4,860 per gram on 4 December|
Quarterly Gold Rate in Guntur from October 2020 to December 2020:
- Gold rate in Guntur opened the month of October at Rs.5,066 per gram and was at its highest on 12 October at Rs.5,131 per gram. However, towards the end of the month, gold prices dipped and were at its lowest on 20 October at Rs.4,904 per gram. On the last day of the month, the price of the metal closed at Rs.4,998 per gram, recording an overall decline of 1.34%.
- The price of the metal, on 1 November, was Rs.5,194 per gram and recorded a decline for the month. On 10 November, the price of the precious metal hit its highest at Rs.5,302 per gram. However, with constant fluctuations, gold prices dipped and were at its lowest on 30 November at Rs.4,876. The metal recorded an overall percentage decline in its prices by 0.96%.
- In December, gold prices in Guntur opened at Rs.5,111 per gram on 1 December and declined to its lowest early in the month at Rs.4,860 per gram on 4 December. The price of the metal recovered and increased through the rest of the month and was at its highest on 22 December at Rs.5,373 per gram. On the last day of the year, gold prices closed at Rs.5,331 per gram, recording an overall incline of 0.43%.
Gold Rate Trend in Guntur for July 2020 to September 2020 (per gram of 24 karat gold)
|1st Day||Rs.5,049 per gram||Rs.5,583 per gram||Rs.5,221 per gram|
|Last Day||Rs.5,561 per gram||Rs.5,360 per gram||Rs.5,354 per gram|
|Highest Price||Rs.5,561 per gram on 31 July||Rs.5,914 per gram on 8 August||Rs.5,408 per gram on 21 September|
|Lowest Price||Rs.5,049 per gram from 1 July||Rs.5,359 per gram on 30 August||Rs.5,019 per gram on 26 September|
Quarterly Gold Rate in Guntur from July 2020 to September 2020:
- Gold price in Guntur in July opened at Rs.5,049 per gram on 1 July and was at its lowest on the same day. The metal recorded an overall incline of 10.14% due to the safe-haven demand as it hit its highest price of the month at Rs.5,561 per gram on 31 July.
- However, as the markets gradually recovered in August, the gold rate dipped in Guntur, opening at Rs.5,583 per gram and hitting its highest price on 8 August at Rs.5,914 per gram. The metal’s price dipped throughout the month and hit its lowest on 30 August at Rs.5,359 per gram, closing with a decline of 3.99%.
- In September, gold prices opened at Rs.5,221 per gram and recorded an overall incline for the month, fluctuating heavily. The metal hit its highest price on 21 September at Rs.5,408 per gram and was at its lowest on 26 September at Rs.5,019 per gram, closing with an incline of 2.54%.
Gold Rate Trend in Guntur for April 2020 to June 2020 (per gram of 24 karat gold)
|1st Day||Rs.4,150 per gram||Rs.4,670 per gram||Rs.4,917 per gram|
|Last Day||Rs.4,720 per gram||Rs.4,898 per gram||Rs.5,067 per gram|
|Highest Price||Rs.4,720 per gram on 30 April||Rs.4,909 per gram on 26 May and 27 May||Rs.5,067 per gram on 30 June|
|Lowest Price||Rs.4,150 per gram from 1 April to 5 April||Rs.4,621 per gram on 2 May||Rs.4,837 per gram on 8 June|
Quarterly Gold Rate in Guntur from April to June:
- With a percentage incline of 1.3%, gold prices opening the month of April at Rs.4,150 per gram on 1 April and recorded the lowest price of the month till 5 April. The price of the metal showed an inclining trend in the month due to the rise of COVID-19 cases all over the world which dipped risk appetite. The price of the yellow metal hit the highest price in April at Rs.4,720 per gram on 30 April and closed the month at the same price.
- As market trend fluctuated, causing constant changes in gold prices, the price of the metal was Rs.4,670 per gram on 1 May and hit its lowest price of the month on 2 May at Rs.4,621 per gram. However, with increased safe-haven demand, the metal’s prices recovered and hit its highest price of the month at Rs.4,909 per gram on 26 May. At the end of the month, the metal closed at Rs.4,898 per gram on 31 May with a percentage incline of 0.59.
- Recording the highest incline rate of the quarter, gold prices opened the month of June at Rs.4,917 per gram and was at its lowest at Rs.4,837 per gram on 8 June. However, with the constant rise in COVID-19 cases in the country, the metal hit 8-year highs and closed the month at Rs.5,067 per gram, with a percentage incline of 3.05%.
Gold Rate Trend in Guntur for January 2020 to March 2020 (per gram of 24 karat gold)
|1st Day||Rs.3,922 per gram||Rs.4,077 per gram||Rs.4,185 per gram|
|Last Day||Rs.4,074 per gram||Rs.4,185 per gram||Rs.4,150 per gram|
|Highest Price||Rs.4,125 per gram on 8 January||Rs.4,305 per gram on 24 February||Rs.4,443 per gram on 6 March|
|Lowest Price||Rs.3,922 per gram on 1 January||Rs.4,030 per gram on 6 February||Rs.4,026 per gram on 19 March|
Quarterly Gold Rate in Guntur from January 2020 to March 2020:
- In the city of Guntur, gold prices in January opened at Rs.3,922 per gram and showed an overall incline in its prices throughout the month. The lowest price of the month was the opening price of gold at Rs.3,922 per gram on 1 January. With the escalating tensions rising between the Middle East and the United States of America and trade deal tensions between China and the United States of America, the price of the metal increased gradually in the month. Investors shifted to the bullion market for its safe-haven appeal and at the beginning of the second week of the month, the price of the metal hit its monthly high at Rs.4,125 per gram on 8 January. By 15 January, gold was priced at Rs.3,991 per gram. In the last two weeks of the month, gold prices crossed the Rs.4,000 per gram mark and closed the month at Rs.4,074 per gram on 31 January recording a percentage incline of 3.87.
- February saw an inclining trend in the price of gold in the city of Guntur. Even though the incline percentage was lesser compared to January, gold prices showed a gradual incline with investors shifting to the bullion market with the effect of the Coronavirus being felt in a few countries all over the world and its effect on the economy. Opening the month at Rs.4,077 per gram, the price of the metal hit its lowest price on 6 February at Rs.4,030 per gram. In the first three weeks of the month, gold prices saw a constant fluctuation due to mixed trends in the international market. With everyone taking stock of the effect of Coronavirus on the economy, the price of the metal increased in the latter half of the month. Investors shifted to the bullion market with the stock market being affected. The price of the metal was at its highest at Rs.4,305 per gram on 24 February. Gold closed the month on 29 February at Rs.4,185 per gram, recording a percentage incline of 2.64.
- In March, gold prices plummeted substantially with investors selling off their assets to hoard cash and survive in the market. Opening the month at Rs.4,185 per gram, gold prices in Guntur hit its highest price in the first week itself at Rs.4,443 per gram on 6 March. The rise in prices was in the first week itself due to investors waiting on possible rate cuts by the United States Federal Reserve to mitigate the losses faced in the economy due to COVID-19. With most countries all over the world under lockdown, the bullion trading centres were shut with no trade occurring in the bullion industry. The price of the metal dipped substantially from the second week onwards hitting its lowest price of the month on 19 March at Rs.4,026 per gram. The price of the metal dipped further and closed the month on 31 March at Rs.4,150 per gram recording a percentage decline of 0.83.
Find Today's Gold Rate in Top Metro Cities
|Today's Gold Rate in Mumbai||Today's Gold Rate in Chennai||Today's Gold Rate in Bangalore|
|Today's Gold Rate in Delhi||Today's Gold Rate in Kolkata||Today's Gold Rate in Hyderabad|
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).
- Also Check: Gold Rate in Andhra Pradesh
Also Check Gold Price in NearBy Cities of Guntur
Read more on Gold
- Auspicious Days to Buy Gold in 2021
- Global Demand For Gold Driven By Indian Wedding Traditions
- Gold And Devaluation
- Significance Of Indian Jewellery
- Sovereign Gold Bond Scheme