Gold Rate In Guwahati

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Gold Rate in Guwahati

Guwahati, the largest city and fastest growing city of Assam has a strong bond with gold dating back to centuries. This city becomes a hub for gold lovers during festivals like Danteras and Diwali, attracting people from nearby towns and states. With business enterprises discovering Guwahati, there are increased job opportunities for residents here, leading to higher disposable incomes. Better incomes offer investment opportunities for people, which is where gold steps in, as the most preferred form of investment here. Gold rates in Guwahati are a reflection of international gold rates, with prices varying according to the politico-economic scenario in the country.

Gold jewellery continues to be a favourite among Guwahati residents, with gold coins, bars, ETFs and E-gold slowly gaining popularity.

Trend of Gold Rate in Guwahati for October 2020 (rates per gram of 24 karat gold)

Trend of Monthly Gold Rate in Guwahati for October 2020

• Gold prices in Guwahati in October started off at Rs.5,174 per gram for 24 karat gold and continued on an upward trend for the rest of the month, with the price on the first day of the month also being the lowest price for the whole month.
• The gold rate in Guwahati in October hit its highest point in the last week of the month at Rs.5,253 per gram on 23 October.
• By the last date of the month, the price of gold in Guwahati had settled at Rs.5,251 per gram with an overall incline in the performance of gold in the city with a percentage change of 1.48%. This was due to gold being seen as a safe haven investment in times of economic volatility due to the effects of the coronavirus pandemic.

Trend of Gold Rate in Guwahati for September 2020 (rates per gram of 24 karat gold)

Trend of Monthly Gold Rate in Guwahati for September 2020:

• The gold rates in Guwahati in September started at Rs.5,293 per gram with prices continuing to rise throughout the first, second, and third weeks.
• Gold rate in Guwahati touched its highest of Rs.5,647 per gram on 25 September. This was due to the US dollar easing and anticipation for the US Presidential debate.
• After the third week, the gold price in Guwahati started declining steadily as the US dollar became stronger, hitting the lowest gold rate in Guwahati for the for the month on 28 and 29 September, which was Rs.5,163 per gram.
• By the end of the month, gold rate in Guwahati had settled at Rs.5,167 per gram with the overall performance for the month of September for gold in Guwahati being on a decline of –2.28%.

Trend of Gold Rate in Guwahati for August 2020 (rates per gram of 24 karat gold)

Trend of Monthly Gold Rate in Guwahati for August 2020:

• The price of gold in Guwahati at the start of the month was Rs.5,078 per gram. Compared to the price charged on the final day of the previous month, the rate of the yellow metal was up by Rs.2.
• Gold price slipped in the city on 5 August and recorded its lowest price for the month. A gram of the 24-karat gold was retailed for Rs.5,562 on the mentioned date.
• Following that, gold rate in Guwahati witnessed an inclining trend. The precious metal recorded its highest price for the month on 31st August when a gram cost Rs.5,562. The percentage change recorded in the price of gold stood at 9.53%.

Trend of Gold Rate in Guwahati for July 2020 (rates per gram of 24 karat gold)

Trend of Monthly Gold Rate in Guwahati for July 2020:

• The price of Gold in Guwahati for the month of July opened at Rs.4,936 per gram. The rate of gold was up by Rs.6 when compared to the price charged on the final day of the previous month.
• Over the month, gold rates witnessed an upward trend in the northeastern state. The increase in the rates saw the yellow metal record its highest price for the month on 31st July with a gram costing Rs.5,076.
• With the incline in the rates, gold price recorded a percentage change of 2.83% in the state.

Trend of Gold Rate in Guwahati for June 2020 (rates per gram of 24 karat gold)

Trend of Monthly Gold Rate in Guwahati for June 2020:

• In the month of June, gold opened at the rate of Rs.4,835 per gram in Guwahati. This has also been the lowest recorded price of the yellow metal for the month. For the rest of the month, the prices generally depicted an upward trend.
• The demand of the yellow metal increased manifold as the number of COVID-19 positive cases kept increasing, especially in India and USA. The overall economy and business growth have been stunted owing to the same reason.
• The month of June ended with the price of the precious metal standing at the rate of Rs.4,930 per gram. This was also the highest rate of the yellow metal which was recorded in the month of June. Over the month, there was a percentage increase of 1.96% in the performance of gold in Guwahati.

Trend of Gold Rate in Guwahati for May 2020 (rates per gram of 24 karat gold)

Trend of Monthly Gold Rate in Guwahati for May 2020:

• A gram of the 24-karat gold cost Rs.4,745 in Guwahati on 1st of May. The opening price of the yellow metal was the lowest price for the month. When compared to what was charged on the final day of the previous month, the rates were up by Rs.8 for every gram. Over the first week, the rates witnessed an incline as U.S. president’s threat to impose tariffs on China over the coronavirus crisis overshadowed optimism about economies easing lockdown measures.
• The increase in the rates of gold continued over the second week as well in Guwahati. Having opened at Rs.4,765 per gram, the price for a gram of the precious metal jumped to Rs.4,774 on 12th May due to fears of a second wave of coronavirus cases. The rates continued to see increase in the rates as tensions between Washington and Beijing soared. The yellow metal closed the week at Rs.4,784 per gram.
• Gold prices continued to climb in the third week as well given that the rates were supported by strained relations between China and the United States of America and a gloomy economic outlook. The yellow metal was priced at Rs.4,797 per gram on 18th May in the city before closing the penultimate week at Rs.4,807 per gram.
• The yellow metal opened the final week of May at Rs.4,813 per gram in Guwahati. The rates saw fluctuations over the week as the global revival of the economy was affected by socio-economic tensions between Washington and Beijing and riots in the United States of America. Gold was priced Rs.4,819 per gram on 28th May before the rates improved and closed the month at Rs.4,832 per gram, the highest for the month in the city. The overall performance of the yellow metal witnessed an incline in the rates over the month with the percentage change being 1.83%.

Trend of Gold Rate in Guwahati for April 2020 (rates per gram of 24 karat gold)

Trend of Monthly Gold Rate in Guwahati for April 2020:

• Gold opened in Guwahati at Rs.4,263 per gram for 24 karat gold. It remained constant at this price point itself for the first 5 days of the month, followed by a sharp rise to Rs.4,273 and Rs.4,343 by the end of the first week. This was a good recovery from the fall in prices from previously. The recovery could be attributed to the coronavirus pandemic that continued to wreak havoc on economies around the world, with Asian equities especially taking a drastic hit. Following an economic stimulus from the US Federal Reserve, there was an easing of the US dollar which helped to bolster prices of precious metals, making them a go-to for investors who had become wary of the volatile equities market globally.
• In the second week of April, gold in Guwahati continued its slow but steady upward trend. The release of the US non-farm payrolls data resulted in this steady inching up of gold prices as the data showed the severe economic impact of the coronavirus. A strong US dollar, riding on the back of the US Federal Reserve’s economic stimulus, continued to keep gold prices in check. However, investors were clear about precious metals being a safe haven investment in a volatile equities' scenario, which helped to continue the upward trend for gold prices throughout the world. The long weekend in the second week of April due Good Friday and Easter created a lull in the stock market, which helped to stabilize gold prices from rising or falling steeply.
• In the third week of April, gold prices in Guwahati continued with minor dips and rises as global trends continued to be unpredictable with the coronavirus pandemic. Fears of a global recession would result in prices rising up as the appeal of safe haven investments continued in the wake of a volatile stock market. However, the announcement of the US President of the economy reopening and news of a treatment for the virus drove investors to again plunge into equities. The historic crash of US crude oil prices resulted in shock waves through the equities markets, further bolstering the prices of gold and other precious metals. However, a strong dollar kept the prices of gold from going through the roof. This was fueled by doubts over the economy restarting as deaths related to coronavirus continued unabated throughout the world.
• In the last week of April, there was a sharp rise in the prices of gold with the highest being on 28 April of Rs.4,759 per gram for 24 Karat gold. Anticipation around a generous European Central Bank stimulus combined with the decision of the US Federal Reserve to maintain interest rates at almost zero helped to boost up the prices of gold. Plans of a gradual easing of the lockdown around the world continued to be vague leading to the appeal of gold as a safe haven investment in times of a possible global recession boosting prices. The overall trend this month for gold was an upward incline of 11.11%.

Trend of Gold Rate in Guwahati for March 2020 (rates per gram for 24 karat gold)

Gold Rate Trend in Guwahati for March 2020:

• In Guwahati, gold opened the month of March at Rs.4,303 per gram. The rate of the yellow metal was down by Rs.74 for every gram when compared to the closing price of the previous month. Gold prices climbed over the opening week as investors awaited a rate cut by the US Federal Reserve in order to help mitigate the losses in the economy due to the coronavirus pandemic.
• Having recorded its highest price for the month on 7 March with every gram of the 24-karat gold costing Rs.4,583, the rates slipped in the city. This was accounted to major countries going into lockdown after being affected by the deadly virus.
• In the third week, gold prices saw constant fluctuations. This was due to traders selling off their assets in order to hoard cash even though global central banks rolled out major reforms to counter the effect of coronavirus on the global economy. The yellow metal recorded its lowest price for the month on 18th March with every gram costing Rs.4,158 per gram.
• Over the final week of the month, gold prices remained stable after increasing marginally on 22nd March. There was no change in the prices as there was not much activity given that almost every country in the world being under lockdown. The yellow metal closed the month at Rs.4,263 per gram with the overall per performance showing a decline of 0.92%.

Trend of Gold Rate in Guwahati for February 2020 (rates per gram for 24 karat gold)

Gold Rate Trend in Guwahati for February 2020:

• In Guwahati, gold opened the month of February at Rs.4,199 per gram. Compared to the previous week’s closing price, there was no change in the rates of the yellow metal.
• Over the first two weeks of the month, gold prices witnessed a lot of fluctuations. The rates of the precious metal recorded its lowest price for the month on 7 February with every gram costing Rs.4,160 in the city.
• Following reports that there was an increase in the number of new coronavirus cases and deaths in countries outside China, the rates of the yellow metal were on an upward curve. The incline in the prices saw the precious metal hit its highest for the month on 25 February. A gram of 24-Karat cost Rs.4,436 in the city on the mentioned date.
• The rates dropped in the city following that and closed the month at Rs.4,377 per gram. Gold’s overall performance in Guwahati over the month of February showed an incline of 4.23% in the prices.

Trend of Gold Rate in Guwahati for January 2020 (rates per gram for 24 karat gold)

Gold Rate Trend in Guwahati for January 2020:

• In Guwahati, gold prices stood at Rs.4,027 per gram on 1 January. Compared to the previous month’s closing price, the rates of yellow metal saw no change in the city.
• Over the month, the rates of the yellow metal fluctuated due to the outbreak of coronavirus of China, tensions in the Middle East, and uncertainty regarding the signing of the trade deal between Washington and Beijing.
• Gold recorded its highest for the month on 9 January with every gram of the 24-carat gold costing Rs.4,251 in the city. The jump in the prices was accounted to the ongoing political tensions between the United States and Iran following the killing of a top Iranian military general in a drone attack.
• The rates of the yellow metal closed the month of January at Rs.4,199 per gram in Guwahati. Gold’s overall performance showed an incline of 4.27% in the city.

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Gold investment avenues in Guwahati

Gold forms an integral part of investments in Guwahati, with different options available to residents to suit their requirements.

Over-the-counter – Gold jewellery, coins and bullion still remain the preferred mode of gold investments in Guwahati, with a number of jewellers and banks offering products for every budgets. Gold prices for products purchased through banks could be higher than prices offered by jewellers on account of quality assurance. GS road is considered a hub for gold jewellers, with stores like Manikchand Jewellers offering a multitude of products to gold enthusiasts.

Market trade – Another avenue which is slowly finding acceptance in Guwahati is E-gold, futures contracts and Exchange Traded Funds, with ETFs being considered a safe investment option.

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