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 January 2020 to March 2020 (per gram of 24 karat gold)

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.

Gold Rate Trend in Guntur for October 2019 to December 2019 (per gram of 24 karat gold)

Gold Rate Trend in Guntur for July 2019 to September 2019 (per gram of 24 karat gold)

Quarterly Gold Rate Trend in Guntur for July to September 2019:

• At the beginning of July, gold prices in Guntur opened at Rs.3,373 per gram and by the end of September 2019, the rates had soared to Rs.3783 per gram. The highest price of gold was recorded on 4 September when the yellow metal was trading at Rs.3,953 per gram.
• The gold rates in Guntur saw the highest inclination of 11.34% in the month of August. The reason for the rise in the gold prices has been attributed to the weakening of rupee against the dollar, rise in the demand of the metal in India, and the market volatility triggered by the US-China Trade war.
• Despite the price of gold in Guntur being recorded the highest on 4 September, overall, there was a decline of 2.39% during the month.
• When observing the quarterly gold rate trend in Guntur, it was noted that the lowest price recorded was on 1 July when it was trading at Rs.3,373 per gram.

Gold Rate Trend in Guntur for April 2019 to June 2019 (per gram of 24 karat gold)

• Demand for the precious metal was high as the month began, with gold prices in Guntur opening at Rs.3,189 per gram but the slide in overseas demand led to prices sliding during most of the month, resulting in the metal trading at Rs.3,194 per gram on 30 June.
• Prices saw some improvement as a marginal increase in local jeweller demand bolstered the metal as gold traded at Rs.3,190 per gram on 1 May before climbing steadily.
• Gold rose to a monthly high of Rs.3,246 per gram on 14 May on rising Sino-U.S. trade tensions but slid on overall weak demand to end the month at Rs.3,215 per gram and record a marginal increase f 0.78%.
• Gold rates in Guntur opened at Rs.3,233 per gram and rose sharply on Iran-U.S. tensions and recession fears, trading at Rs.3,428 per gram on 28 June before settling at Rs.3,415 per gram on 30 June.

Gold Rate Trend in Guntur for January 2019 to March 2019 (per gram of 24 karat gold)

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

Gold Rate Trend in Guntur for October 2018:

• Gold was priced at Rs.3,071 per gram when trading began for the month of October. Demand was on the rise for much of this month as the dollar fell, and markets weakened amidst the US- China trade war.
• Rates seen on the 1st was the lowest for the month, with prices rising for much of the remaining 30 days.
• On the 15th of October, gold was seen trading at Rs.3,211 per gram as demand was at its highest amidst a poor dollar.
• When the month ended, gold prices were recorded at Rs.3,188 per gram with a 3.80% incline in price trends compared to the previous month.

Gold Rate Trend in Guntur for November 2018:

• If October was a positive period for gold sales, November was an equally bad one because demand reached a new low.
• On the 1st of November, the yellow metal was priced at Rs.3,184 per gram which held on steadily before rising to Rs.3,196 per gram on the 6th of November.
• This month saw the US dollar pick up after the fall the previous month, and the Indian rupee continued its fall. Due to this, gold demand dropped in the local market which then led to a fall in prices.
• When the month ended, the precious metal was priced at Rs.3,045 per gram and there was a 4.36% decline in prices due to weak demand.

Gold Rate Trend in Guntur for December 2018:

• After a rather roller coaster ride of a period for the first two months of the quarter, the third month offered some respite to investors.
• When the month began gold was priced at Rs.3,045 per gram and signs showed that positive changes were likely to occur this month.
• The metal was at its highest this month on the 1st when it traded at Rs.3,045 per gram and at its highest on the 11th when it traded at Rs.3,192 per gram.
• On the final day of the month, the metal was seen trading at Rs.3,165 per gram – with a 3.94% incline in prices compared to the first day.

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

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

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)

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.

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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 Price in NearBy Cities of Guntur