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Gwalior, located in Madhya Pradesh has traditionally been a seat of empire since ancient times. Trade routes crisscrossed the city, making it an important stop along medieval trade routes. It was also a major manufacturing hub before focus shifted to other sectors like agriculture, chemicals and textiles. Due to its status as a trading hub, bullion has long been in use and purchased in the city.
While gold was usually associated with festivals and weddings, nowadays there is growing interest in the metal as a valuable financial asset.
Gold Rate Trend in Gwalior from April 2018 to June 2018 (per gram of 24 karat gold)
|1st day||Rs.3,148 per gram||Rs.3,219 per gram||Rs.3,208 per gram|
|Last day||Rs.3,219 per gram||Rs.3,208 per gram||Rs.3,142 per gram|
|Highest price||Rs.3,232 per gram on 26 and 27 April||Rs.3,228 per gram from 8 - 16 and 25 - 30 May||Rs.3,208 per gram from 1-4 June|
|Lowest price||Rs.3,148 per gram from 1 April to 12 April||Rs.3,205 per gram from 17 to 24 May||Rs.3,142 per gram on 30 June|
Gold Rate in Gwalior for April 2018
- When trading opened in April, gold prices in Gwalior stood at Rs.3,148 per gram as demand was sluggish due to poor retail demand.
- Prices remained unchanged for close to two weeks, before fluctuating markets led to a spurt in demand.
- Gold prices rose to Rs.3,232 per gram on 26 April as industrial demand was on the rise, though retail sales remained slow.
- There was a slight dip in prices as the month ended, with gold trading at Rs.3,219 per gram to record a rise of 2.25% due to steadily rising demand.
Gold Rate in Gwalior for May 2018
- As the dollar recovered and markets were buoyed by positive economic data, demand for gold was on the decline.
- The precious metal opened trading at a stable Rs.3,219 per gram but the price fell on lowered demand from both industrial and retail sectors.
- The middle of the month saw a sharp fall in gold prices, as the metal’s value fell to Rs.3,205 per gram from 17-24 May.
- The possibility of an interest rate hike and the impending U.S.-North Korea summit boosted the dollar and equity markets, leading to a drop in demand for gold.
- The end of the month saw gold trade at Rs.3,208 per gram to record a 0.38% drop in value.
Gold Rate in Gwalior for June 2018
- Gold rates in Gwalior in June echoed trends seen across other cities, with a steady drop in price due to unfavourable market cues and a fluctuating dollar.
- The month began with gold priced at Rs.3,208 per gram and remained constant for a few days due to static demand.
- The success of the U.S.-North Korean summit bolstered the dollar as investors stayed away from bullion, as gold prices fell to Rs.3,177 per gram from 8-12 June.
- Prices recovered somewhat before fluctuating demand resulted in prices dropping to Rs.3,148 per gram on 23 June before closing the month at Rs.3,142 per gram.