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Hisar is located in the state of Haryana and is the administrative centre for Hisar district. Touted as an alternative to the NCR region it acts as a magnet and attracts migrant workers and is developing parallel to the NCR region. This region has a diverse history and was ruled by a barrage of kingdoms including the Mauryan empire in the 3rd century B.C along with the Tughlaqs in the 14th Century A.D. the city of Hisar became a hub for educational institutes post independence and soon transitioned into a manufacturing economy and became a hub for production of steel and galvanized iron. It is also known as the city of steel. Other prominent industries of this city include livestock farms, textile industries and automobile parts.
Gold price in Hisar
Gold is a dynamic commodity and it’s prices are always fluctuating, not just for the country as a whole but fluctuates within different parts of the country as well. Global economic forces, interest rates, production laws and taxes levied against gold, import duties and other cess levied against jewellers all contribute to increasing or decreasing the price of gold and as a result the prices fluctuate across the country. A major defining factor in the price of gold is its purity content. 24 karat gold is widely considered as the purest form of gold and as such is the most expensive and 22 karat gold is considered as second most pure and is slightly cheaper. The prices of both 24 and 22 karat gold in Hisar are as follows
24 karat gold – with a purity of 99.9%, 24-karat gold is considered to be the purest form of gold one can buy and hence serves as a perfect avenue for investment. It can be sold at good prices and is always considered as a viable investment. The price of 1g of 24 karat gold is Rs 2996 as of 10th March 2016. The price of gold had reduced drastically in 2015 and as such was a good time for buyers but the price has been on the rise since then and is expected to increase and cross Rs 3000 mark in the coming months of 2016.
22 karat gold – This form of gold has a lower purity content of 92% but is still favoured by many especially in the form of ornamental jewellery due to the purity content. Even though purity is 92% the impurities in this form of gold are usually metals and other minerals which lend the gold a malleable nature and hence it is easier to convert this type of gold into intricate ornamental jewellery. The price of 22 karat gold is Rs 2773 for 1 gram as of 10th March 2016. The price of 22 karat gold had seen quite a drop in 2015 but like 24-karat gold this too is expected to rise in 2016
Gold Rate Trend in Hisar for April 2016 to June 2016 (per gram of 24 karat gold)
|1st day||Rs. 2, 943 per gram||Rs. 3, 119 per gram||Rs.2,960|
|Last day||Rs. 3, 119 per gram||Rs. 2, 960 per gram||Rs.3,167|
|Highest price||Rs. 3, 119 per gram on 30th April, 2016||Rs. 3, 120 per gram from 7th-9th May, 2016||Rs.3,182 per gram on 28th to 29th June|
|Lowest price||Rs. 2, 943 per gram from 1st-4th April, 2016||Rs. 2, 960 per gram from 28th-31st May, 2016||Rs.2950 per gram on 2nd to 5th June|
|Trend||Prices rose marginally||Prices fell||Rise|
|Change||+5.98% increase||- 5.09% decrease||+6.99%|
Gold Rate Trend in Hisar in April 2016
- Gold traded at Rs. 2, 943, a marginal increase from the previous month.
- The jeweller’s strike was called off, leading to an upsurge in demand and a rise in the rate.
- Lowered demand internationally as the currency markets stabilised led to a drop in prices.
- Gold recovered in the last week, trading at Rs. 3, 119, an increase of 5.98% over the month.
Gold Rate Trend in Hisar in May 2016
- Gold traded at Rs. 3, 119, continuing its good run from the past month.
- Internationally, gold rates fell as speculation regarding the US Federal Reserve raising interest rates gained momentum.
- Prices stabilised as domestic demand continued to bolster prices in spite of a declining trend across global markets.
- The strengthening currency markets coupled with good trade figures in the US pushed gold prices down internationally, which led to a drop in domestic prices.
- Prices recovered marginally, closing at Rs. 2, 960, a decline of 5.09%.
Gold Rate Trend of Hisar in June 2016
- Gold traded at Rs.2,960 at the beginning of the month as gold took a hit in the global gold market.
- With the Brexit polls in play, gold continued to trade at low prices till mid-June.
- As markets recovered, gold rates soared to Rs.3,182 per gram on 28th to 29th June, ending the month on a high note.
Gold Rate Trend in Hisar for January 2016 to March 2016 (per gram of 24 karat gold)
|1st day||Rs. 2, 585 per gram||Rs. 2, 756 per gram||Rs. 3, 030 per gram|
|Last day||Rs. 2, 756 per gram||Rs. 3, 037 per gram||Rs. 2, 948 per gram|
|Highest price||Rs. 2, 772 per gram on 28th Jan, 2016||Rs. 3, 049 per gram on 26th Feb, 2016||Rs. 3, 030 per gram from 1st- 14th March, 2016|
|Lowest price||Rs. 2,580 per gram from 2nd- 4th Jan, 2016||Rs. 2, 756 per gram on 1st Feb, 2016||Rs. 2, 940 per gram from 15th-17th March, 2016|
|Trend||Prices rose||Prices rose||Prices fell|
|Change||+6.61% increase||+10.19% increase||-2.70% decrease|
Gold Rate Trend in Hisar in January 2016
- The price of gold was Rs. 2, 585 for a gram on January 1st, 2016.
- The prices increased marginally in the second week, on the back of strong demand in the domestic market by jewellers.
- Demand was further bolstered by wedding season demand, taking the price higher.
- A slight decline in demand in the last week saw prices fall before closing at Rs. 2, 756 for one gram.
Gold Rate Trend in Hisar in February 2016
- Strong demand by jewellers led to gold opening at Rs. 2, 756 in February.
- Gold maintained its rate thanks to a boost in demand internationally.
- Prices increased as demand increased due to an especially volatile market and low US Dollar.
- The rate lowered as the Rupee made gains, closing at Rs. 3. 037 for a gram, an increase of 10%.
Gold Rate Trend in Hisar in March 2016
- Gold made a strong start, trading at Rs. 3, 030.
- A month- long strike by jewellers led to a sharp drop in demand nationally.
- Prices remained constant due to the ongoing strike.
- The last week saw a drop in prices as the strike continued, further lowering the price to Rs. 2, 948 per gram.
Gold investment avenues in Hisar
Investment in gold has been a long standing practice in India. Gold is not only viewed as a status of wealth and prosperity in the Indian society and with its roots deeply entwined into Indian culture; it is often bought during religious or celebratory occasions. Gold has also, by far and large remained unaffected by the forces of inflation. Hence this precious metal is considered as a safe haven for investors. It has a high liquidity factor and helps one diversify their portfolio
Over-the-counter – This form of gold purchase is the simplest and most easily accessible. Gold can be bought from a multitude of jewellers at very competitive rates especially during the festival seasons and the varying prices fit within the budget of many looking to purchase the metal. Banks across Hisar offer investment avenues for gold which makes investing the gold easy. The most common form of gold bought as investments are gold coins and gold bars. The ornamental jewellery is usually purchased t celebrate certain occasions and are purchased in the form of chains, necklace sets, ear-rings and bangles.
Market trade – this form of gold trade acts solely as a form of investment and trading and while it is catching on in Hisar, it still is in the early stages. The market trading of gold can be done through Gold ETF’s or gold futures and if one is willing to put in the effort and time to overcome the learning curve, gold trade can also be done on the National Stock Exchange or on Mumbai Stock Exchange
- Also Check: Gold Rate in Haryana
Also Check Gold Price in NearBy Cities of Hisar
|Gold Rate In Chandigarh||Gold Rate In Gurgaon||Gold Rate In Faridabad|
|Gold Rate In Ambala||Gold Rate In Karnal||Gold Rate In Delhi|
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