Gold Rate In Guntur Today _{Last Updated : 04 Feb 2023}

*Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.

Todays 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.

Also check - Gold Rate in India

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 from July 2022 to September 2022

Gold Rate Trend in Guntur from April 2022 to June 2022

Quarterly Gold Rate in Guntur from April 2022 to June 2022

• Gold rates opened at Rs.5,076 for a gram in the month of April in Guntur. Gold prices jumped by the end of the month and closed at Rs.5,148 per gram. The price of gold increased by 1.41% in April. Gold prices hit their lowest price on 4 April and highest price on 18 April.
• On 1 May 2022, gold prices in the city were Rs.5,148 per gram. The prices did not change when compared to 30 April 2022. By 31 May 2022, gold prices fell and were Rs.5,014 for a gram. The lowest and highest prices the yellow metal touched for the month were Rs.4,964 for a gram and Rs.5,148 per gram, respectively.
• In June, gold prices decreased over the course of the month. After opening the month at Rs.4,977 for a gram, the prices of the yellow metal closed at Rs.4,917 per gram. Gold rates fell by 1.21% over the course of the month in the city.

Gold Rate Trend in Guntur from January 2022 to March 2022 (per gram of 24 karat gold)

Quarterly Gold Rate in Guntur from January 2022 to March 2022

• In Guntur, gold rates in January opened at Rs.4,787 for a gram. Over the month, the prices fluctuated and closed at Rs.4,753 per gram. Gold prices fell 0.71% in January in the city.
• In February, the prices of gold in the city opened at Rs.4,742 per gram. Gold reached its lowest price of Rs.4,740 per gram on 2 February.
• Gold rates in March opened at Rs.5,027 per gram. The month ended with the metal reaching Rs.5,033 per gram. Gold prices jumped by 0.11% over the course of the month in Guntur.

Find Today's Gold Rate in Top Metro Cities

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).

FAQs on Gold rate in Guntur

1. How 22 karat gold differs from 22 karat gold?

   The 24-karat gold is of the highest purity while the 22-karat gold is slightly less pure. It is difficult to make and use jewellery made of 24-karat gold as it would be soft and mushy. That is why 22-karat gold is used to make jewellery.

2. What to check while buying gold?

   You need to check the following points while buying gold: 1. The purity of gold 2. In case it is a jewellery piece, what is the making charge applied 3. Is the gold hallmarked

3. Is the gold price in Guntur same when compared to the other cities?

   No, gold prices in Guntur will be different when compared to the other cities because of local taxes and transportation costs.

4. Why does gold price vary from place to place?

   The various factors affecting the gold rate include high demand for the yellow metal and comparatively low supply, transportation expenses, policies and tariffs imposed by local governments, etc. It is because of these factors that gold price varies from place to place.

5. How is the price of gold determined?

   There are various factors which may determine the overall price of gold. For example, government policy, interest rate, demand for gold, etc. may determine its cost. Externally, the change in currency rates especially of Indian rupee with respect to US dollars, price of oil, and even political factors may determine the price of gold in the country.

6. Is investing in gold a good option?

   If you are looking forward to making a long-term investment in gold, then buying 24-karat gold is a good option.

7. Why is the price of gold in Guntur different than the price of gold in other cities?

   The price of gold in Guntur will be different in comparison with the price of precious metals in other cities due to reasons such as the demand for yellow metal. Gold is purchased generally during auspicious events such as festivals, weddings, etc. and hence the demand will be higher, while in some cities the demand for it may be low. Due to this, the price of gold will differ from state to state.

Also Check Gold Price in NearBy Cities of Guntur