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Gold Price In Gurgaon
The city of Gurgaon is one of the foremost industrial and financial centers in India and currently boasts one of the highest per capita income in the country. It is located in the state of Haryana and harbours over 250 Fortune 500 companies from around the world. The city is home to approximately two million people and is also a top consumer of gold due to the affluence of its residents. Gold jewellery is popularly worn as a fashion statement as well as a status symbol at various festival celebrations and social events.
Gold rate in Gurgaon differ depending on their purity. Gold is available in both 22 Karat or 24 Karat, with the prices for each varying on the basis of weight such as 1 grams, 2 grams, 4 grams, 8 grams etc
Gold Rate Trend in Gurgaon for October 2020 to December 2020 (per gram of 24 karat gold)
|1st Day||Rs.5,166 per gram||Rs.5,171 per gram||Rs.4,846 per gram|
|Last Day||Rs.5,171 per gram||Rs.4,890 per gram||Rs.5,074 per gram|
|Highest Price||Rs.5,229 per gram on 13 October||Rs.5,215 per gram on 7, 8, and 9 November||Rs.5,130 per gram on 21 December|
|Lowest Price||Rs.4,914 per gram on 18, 19, and 20 October||Rs.4,890 per gram on 28, 29 and 30 November||Rs.4,846 per gram on 1 December|
Quarterly Gold Rate in Gurgaon from October 2020 to December 2020:
- Gold price in Gurgaon on 1st October was Rs.5,166 per gram. Over the month, the price of the yellow metal witnessed an inclining trend with the percentage change being 0.09%. The highest and lowest price for the month was recorded on 13th and 18th October with a gram costing Rs.5,299 and Rs.4,914 respectively.
- In November, gold opened at Rs.5,171 per gram. There was no change in the price of the gold when compared to the closing price of the previous month. The highest and lowest price for the month was recorded on 7th and 28th November when a gram of the 24-karat gold cost Rs.5,215 and Rs.4,890 respectively. The overall trend witnessed in the rates was one of decline with the percentage change being -5.43%
- The yellow metal was priced Rs.4,846 per gram in Gurgaon on 1st December. This was the lowest recorded price for the month. While the price of gold fluctuated in the city, gold recorded its highest price for the month on 21st December with a gram costing Rs.5,130. Gold’s overall performance witnessed an inclining trend in Gurgaon with the percentage change being 4.70%.
Gold Rate Trend in Gurgaon for July 2020 to September 2020 (per gram of 24 karat gold)
|1st Day||Rs.4,946 per gram||Rs.5,481 per gram||Rs.5,287 per gram|
|Last Day||Rs.5,439 per gram||Rs.5,250 per gram||Rs.5,135 per gram|
|Highest Price||Rs.5,439 per gram on 31 July||Rs.5,749 per gram on 8 August||Rs.5,297 per gram on 16 September|
|Lowest Price||Rs.4,925 per gram on 7 July||Rs.5,234 per gram on 27 August and 28 August||Rs.5,077 per gram on 29 September|
Quarterly Gold Rate in Gurgaon from July 2020 to September 2020:
- In Gurgaon, gold prices increased by 9.96% in the month of July. The prices of gold opened at Rs.4,946 for a gram and closed at Rs.5,439 per gram. The highest and lowest rates that the yellow metal hit for the month were on 31 July and 7 July, respectively. The coronavirus outbreak across the world was the main reason for the prices to increase.
- On 1 August, the prices of gold in Gurgaon was at Rs.5,481 per gram. However, gold prices reduced by 4.21% over the course of the month and were at Rs.5,250 for a gram on the last day. The highest and lowest rates that the yellow metal hit for the month were Rs.5,749 per gram and Rs.5,234 per gram, respectively.
- In September, gold prices reduced by 2.87% in Gurgaon. On 16 September, gold hit its highest rate for the month and was at Rs.5,297 for a gram. On 29 September 2020, gold prices hit its lowest rate for the month and was at Rs.5,077 per gram.
Gold Rate Trend in Gurgaon for April 2020 to June 2020 (per gram of 24 karat gold)
|1st Day||Rs.4,253 per gram||Rs.4,699 per gram||Rs.4,799 per gram|
|Last Day||Rs.4,761 per gram||Rs.4,799 per gram||Rs.4,961 per gram|
|Highest Price||Rs.4,846 per gram on 29 April||Rs.4,799 per gram on 31 May||Rs.4,961 per gram on 30 June|
|Lowest Price||Rs.4,253 per gram from 1 April to 20 April||Rs.4,646 per gram on 2 May||Rs.4,725 per gram on 8 June|
Quarterly Gold Rate in Gurgaon from April to June:
- On 1 April 2020, the price of gold in Gurgaon was at Rs.4,253 for a gram and remained steady over the next 20 days. This was the lowest rate that the yellow metal hit for the month. The coronavirus outbreak across the world was the main reason for the prices to increase. On 30 April, the price of gold was at Rs.4,761 for a gram, seeing a 11.94% incline over the course of the month.
- In the month of May, the prices of gold opened at Rs.4,699 per gram and closed at Rs.4,799 per gram. The tensions between China and the US was the main reason for the prices to increase. Gold saw its prices increase by 2.12% in May.
- In June, the prices of gold saw an incline of 3.37% as the price of gold opened and closed at Rs.4,799 and Rs.4,961 respectively. The increase in the number of coronavirus cases and the stimulus measures that were introduced ensured that the prices increased.
Gold Rate Trend in Gurgaon for January 2020 to March 2020 (per gram of 24 karat gold)
|1st Day||Rs.3,995 per gram||Rs.4,169 per gram||Rs.4,274 per gram|
|Last Day||Rs.4,169 per gram||Rs.4,368 per gram||Rs.4,253 per gram|
|Highest Price||Rs.4,211 per gram on 9 January||Rs.4,394 per gram on 25 and 26 February||Rs.4,536 per gram on 7 March|
|Lowest Price||Rs.3,995 per gram on 1 January||Rs.4,116 per gram on 7 February||Rs.4,111 per gram on 20 March|
Quarterly Gold Rate in Gurgaon from January 2020 to March 2020:
- In January, gold prices at the beginning of the month opened at Rs.3,995 per gram and were the lowest price of the month. In this month, gold prices showed an inclining trend with increasing tensions between the Middle East and the United States of America. Investors shifted to the bullion market amidst increased safe-haven demand. With speculations rising about the trade deal between China and the United States of America, the price of the metal increased and hit its highest price of the month on 9 January at Rs.4,211 per gram. In the next week, the prices of the metal dipped with the first phase of the trade deal being signed between the two countries. However, the price of the yellow metal increased in the last week of the month and closed at Rs.4,169 per gram on 31 January, recording a percentage incline of 4.35.
- The price of the metal recorded higher inclines in the month of February. Opening at Rs.4,169 per gram on 1 February and hit its lowest price of the month in the first week itself at Rs.4,116 per gram on 7 February. However, in the following weeks, the price of the metal fluctuated due to mixed trends in the global markets. With reports of a virus affecting people at a large scale in China coming in, the focus of investors shifted to the bullion market yet again due to safe-haven appeal. The price of the metal increased in the second week of the month and by 16 February, gold was priced at Rs.4,211 per gram. In the third week of February, gold prices recorded major inclines, hitting its highest price of the month on 25 February at Rs.4,394 per gram and held steady on 26 February as well. At the end of the month, the price of the metal closed at Rs.4,368 per gram on 29 February, recording a percentage incline of 4.77.
- March did not prove to a positive month for the traders invested in the bullion market and with this, the inclining trend of the metal came to a halt. Gold opened the month at Rs.4,274 per gram and increased in the first week of the month due to investors awaiting a rate cut by the United States Federal Reserve. The price of the metal hit its highest price due to this in the first week of the month on 7 March at Rs.4,536 per gram. In the second week, the price of the precious metal fluctuated greatly. With an increasing number of cases being reported all over the world and countries going into lockdown, the price of the metal increased marginally. However, to survive in the crisis-hit market, traders started selling off their assets to hoard cash. Due to this, the price of the metal fell and closed with a percentage decline of 0.49, at Rs.4,253 per gram on 31 March.
Gold Investment Avenues In Gurgaon
Gold is highly sought after in Gurgaon due to its double benefit as an investment for the future a well as it resale value. Due to the large number of working professionals in Gurgaon, the demand for gold is high, keeping in accordance with the income of its residents. Some of the best and most feasible avenues through which one can purchase gold in Gurgaon are as follows:
Over-the-counter: Gurgaon is littered with jewellery shops that specialise in the buying and selling of gold at competitive prices. Customers can purchase gold in the form of jewellery, gold coins and much more from these stores, and will receive certificates of authenticity for every purchase.
Online Portals: Gurgaon has a number of online portals through which one can purchase or sell gold. These portals provide customers with ways of checking the purity of their gold and providing them with up to date information regarding the rates for the precious metal.
Market Trade: Customers can also invest in gold through Gold ETFs, Gold Funds etc, which can be traded on the stock exchange. This can be done by opening a demat account and is a convenient method of trading in gold since the customer can do this from her or her home.
- Also Check: Gold Rate in Haryana