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Gold Price In Hassan
Hassan, located in the south-western part of the state of Karnataka, is a prominent destination with a rich and prosperous history. Gold has been an integral part of Hassan’s culture since the rule of Hoysalas when the city was in its full glory. Gold, considered as one of the safest investments has always been on high demand in the city. Gold prices in Hassan fluctuate depending on the prevalent domestic trends in the state, which is associated to global bullion trade. Gold demand in Hassan usually peaks during the wedding and festive season, where retailers provide a variety of options to the consumers.
Gold Rate Trend in Hassan for April 2018 to June 2018 (per gram of 24 karat gold)
|1st day||Rs.3,019 per gram||Rs.3,060 per gram||Rs.3,066 per gram|
|Last day||Rs.3,077 per gram||Rs.3,061 per gram||Rs.3,014 per gram|
|Highest price||Rs.3,098 per gram on 19 and 20 April||Rs.3,103 per gram on 14 May||Rs.3,134 per gram on 27 May|
|Lowest price||Rs.3,005 per gram on 7 April||Rs.3,045 per gram on 4 and 22 May||Rs.3,008 per gram from 23 to 25 May|
Gold Rate Trend in Hassan for April 2018:
- Gold prices in Hassan rose considerably due to strong investor demand amid positive market trends brought about by the unevenly performing dollar during the month.
- Trading began for the quarter with gold priced at Rs.3,019 per gram on the 1st as the US dollar dropped against a basket of major currencies amid the US-China trade war concerns.
- However, with the greenback regaining lost ground ahead of a possible US interest rate hike by the Federal Reserve, demand for the metal plunged. This led to gold rates dropping to a monthly low of Rs.3,005 per gram on the 7th.
- Demand surged towards the end of the month with market participants gravitating towards safer investments such as gold amid the rising geopolitical tensions.
- Gold was recorded trading at Rs.3,098 per gram - the highest monthly figure - on the 19th with strong demand from local jewellers, retailers and industries amid the firm trend overseas.
- With domestic demand stabilising amid the recovering dollar, gold rates in Hassan were recorded trading at Rs.3,077 per gram on the last day, registering an increase of 1.92% in bullion trade during the course of the month.
Gold Rate Trend in Hassan for May 2018:
- The month saw gold rates greatly impacted by the recovering US dollar index and well-performing equity markets.
- The month began with the precious metal priced at Rs.3,060 per gram on the 1st as local demand plunged amid the rising dollar index.
- Investor demand plunged during the month with market sentiments revived by the upcoming US-North Korean summit, which in turn strengthened the US dollar.
- With traders and stockists capitalising on the bullish market, demand for gold plunged and the yellow metal was recorded trading at Rs.3,045 per gram on the 4th.
- The 14th saw gold prices surging to Rs.3,103 per gram as the US dollar and equity markets tumbled after the Federal Reserve decided to leave its benchmark interest rates unchanged.
- However, a rise in the US Treasury yields resulted in the greenback surging, making the dollar-dependent bullion expensive for foreign investors. This led to rates dropping to Rs.3,045 per gram on the 22nd.
- The month came to an end with precious metal priced at Rs.3,061 per gram on the 31st with steady domestic demand from local jewellers and retailers.
Gold Rate Trend in Hassan for June 2018:
- The final month of the quarter began with gold trading at Rs.3,066 per gram on the 1st of June as the upcoming US-North Korean summit boosted the US dollar.
- Demand remained low for much of the month with industrial offtake held in check by the strong US dollar index.
- With the Trump-Kim summit turning out to be a successful event, investors and traders gravitated towards other financial investments to hedge against inflation.
- Gold rates dropped to Rs.3,008 per gram - the lowest recorded monthly figure - on the 23rd and continued trading at the same rate until the 25th with poor domestic demand for the metal.
- Trading concluded for the month with the bullion priced at Rs.3,014 per gram on the 30th after the US central bank indicated an interest rate hike.
- Hassan recorded a decline of 1.69% in gold rates due to the poor trend overseas that pushed demand lower during the month.