Gold Rate In Hisar

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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 3^rd century B.C along with the Tughlaqs in the 14^th 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 10^th 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 10^th 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 January 2017 to March 2017 (per gram of 24 karat gold)

Factor	January	February	March
1st day	Rs.2,844 per gram	Rs.2,978 per gram	Rs.3,009 per gram
Last day	Rs.2,958 per gram	Rs.3,020 per gram	Rs.2,991 per gram
Highest price	Rs.2,979 per gram on 24th and 25th of January	Rs.3,031 per gram from 25th February	Rs.3,009 per gram on the 1st and 2nd of March
Lowest price	Rs.2,844 per gram from 1st January to 3rd February	Rs.2,957 per gram from 4th February to 6th February	Rs.2,950 per gram on 15th March
Trend	Incline	Incline	Decline
Change	4%	1.41%	-0.59%

Gold Rate Trend for Hisar in January 2017:

• After a disappointing quarter in 2016, gold prices picked up over the first quarter of 2017.
• Gold prices in Hisar started at Rs.2,844 per gram on 1st January, which went up over the course of the month.
• As the month saw more cash flow into the economy and reduce the influences of demonetisation, gold prices seemed to pick up.
• The month was quite positive as rate seen on the 1st was the lowest for the entire month.
• On 24th, gold prices hit their highest for the month at Rs.2,979 per gram.
• The month saw gold rates incline at a rate of 4%.

Gold Rate Trend for Hisar in February 2017:

• February, though not as productive for gold rates in Hisar, saw gold price trends continue on a positive note.
• Gold was priced at Rs.2,978 per gram when the month began - a rate which began to climb as days progressed.
• However, gold prices fluctuated to hit their lowest within the first week when they hit Rs.2,957 per gram.
• Consequently, after that fall, gold prices never seemed to go down again and hit the highest for the month at Rs.3,031 per gram on 25th.
• The month saw gold prices incline at the rate of 1.41% in Hisar.

Gold Rate Trend for Hisar in March 2017:

• The last month of Q1 2017 saw gold prices drop as plenty of global factors brought the demand down.
• On 1st of March, gold was selling at Rs.3,009 per gram - which happened to be the highest gold rate for the month.
• Gold prices seemed to fluctuate considerably and hit the lowest rate on 15th when it was trading at Rs.2,950 per gram.
• However, rates picked up slightly to end the month on a high at Rs.2,991 per gram.
• Despite a resurgence toward the end of the month, gold price trends still went down by 0.59% in March.
• On an average, gold price trends inclined at the rate of 1.60% during the first quarter of 2017.

Gold Rate Trend in Hisar for October 2016 to December 2016 (per gram of 24 karat gold)

Factor	October	November	December
1st day	Rs.3,205 per gram	Rs.3,099 per gram	Rs.2,893 per gram
Last day	Rs.3,099 per gram	Rs.2,941 per gram	Rs.2,844 per gram
Highest price	Rs.3,205 per gram from 1st-4th October	Rs.3,213 per gram on 5th & 6th November	Rs.2,893 per gram on 1st & 2nd December
Lowest price	Rs.3,088 per gram from 6th-25th October	Rs.2,929 per gram from 25th-27th November	Rs.2,800 per gram from 23rd-28th December
Trend	Decline	Decline	Decline
Change	-3.30%	-5.09%	-1.69%

Gold Rate Trend for Hisar in October 2016

• Gold traded at Rs.3,205 per gram in Hisar at the start of October, as consistent demand from the industrial sector kept prices stable.
• A drop in demand due to the rising U.S. Dollar was observed in the second week, with domestic demand also low as fears of greater scrutiny of bullion purchases kept investors away.
• Global markets rallied on positive economic data from the U.S., which led to a decline in demand for gold.
• Prices were stagnant as demand was muted, though the end of the month saw a rise in price as uncertainty over the results of the U.S. elections led to markets dropping and gold demand rising.
• Gold traded at Rs.3,099 per gram on 31st October, recording a loss of 3.30% during the month.

Gold Rate Trend for Hisar in November 2016

• Gold prices rose in the first week due to market volatility as the U.S. election results led to a crash.
• Gold traded at Rs.3,099 per gram, with the price rising marginally during the week as markets recorded a significant drop on news that Donald Trump had secured the U.S. Presidency.
• The withdrawal of large denomination currency notes from the Indian market led to panic across the country, as investors rushed to invest in gold, further boosting the price.
• As U.S. markets stabilised, a currency shortage led to reduced demand for gold in India, which resulted in a decline in demand and price.

Gold Rate Trend for Hisar in December 2016

• There was no improvement in the price of gold in December, as demand continued to be low due to stable markets and a strong U.S. Dollar.
• Gold traded at Rs.2,893 per gram on 1st December, which was the highest price for the month.
• Festive shopping boosted global economies, as well as the possibility of a U.S. Fed rate hike, which led to a decline in demand for gold.
• The ongoing currency shortage and scrutiny of bullion purchases in the wake of demonetisation led to lowered demand from the retail sector.
• Prices fell to Rs.2,800 per gram during the Christmas week as interest in bullion was markedly low.
• As a rate hike seemed unlikely, there was a drop in the U.S. Dollar, which led to a slight increase in industrial demand for gold.
• Gold traded at Rs.2,844 per gram at the end of the year, registering a marginal decrease in price.

Gold Rate Trend in Hisar for July 2016 to September 2016 (per gram of 24 karat gold)

Factor	July	August	September
1st day	Rs.2,965 per gram	Rs.3,219 per gram	Rs.3,184 per gram
Last day	Rs.3,010 per gram	Rs.3,205 per gram	Rs.3,217 per gram
Highest price	Rs.3,020 per gram from 7th to 12th July	Rs.3,248 per gram on 5th August, and on 10th August	Rs.3,228 per gram from 7th to 12th September
Lowest price	Rs.2,960 per gram on 22nd July	Rs.3,205 per gram from 26th to 31st of August	Rs.3,184 per gram on 1st and 2nd September
Trend	Incline	Decline	Incline
Change	+1.51%	-0.43%	+1.03%

Gold Rate Trend of Hisar in July 2016

• Gold traded at Rs.2,965 per gram on 1st July.
• Demand was high in domestic and global markets.
• The highest price of gold recorded in the month of July was between the 7th and 12th of July, trading at Rs.3,020 per gram.
• Gold prices remained consistent for large parts of the month, barring marginal inclines and declines along the way.
• A poor performance from the dollar towards the end of the month meant that prices increased gradually until the last day of July.
• The month closed with gold trading at Rs.3,010 per gram on 31st July.

Gold Rate Trend of Hisar in August 2016

• The rate of gold per gram on the 1st of August was recorded at Rs.3,219.
• A constant trend swept over gold rates till 9th August.
• Domestic demand was stable as jewellers and retailers increased their offtake for the festive season.
• Gold rates increased marginally on the 4th following consistency for three days, and then gained stability for a week before fluctuating for a few days.
• Gold prices remained stable between the 16th and 24th at Rs.3,030, as prices were stable for majority of the month.
• Gold prices remained unchanged between the 26th and 31st of August at Rs.3,000.
• The highest rate in the month of August was recorded Rs.3,248 per gram on 5th August, and on 10th August.
• The lowest rate was Rs.3,205 per gram from 26th to 31st of August.

Gold Rate Trend of Hisar in September 2016

• Gold traded at Rs.2,980 per gram on 1st and 2nd September, which was the lowest rate for this month.
• The highlight for this month was that the interest rate hike by the U.S. Federal Reserve was put on hold as the U.S. presidential elections were too close.
• Prices rose gradually over the next two weeks and the highest rate was recorded at Rs.3,228 per gram from 7th to 12th September.
• Although a decline in prices was recorded on three days between the 13th and 21st of the month, gold gained its safe-haven appeal back and investors increased their appetite for gold as prices continued rising until the 28th.
• The overall increases in prices over the course of the month was just over 1%.

Gold Rate Trend in Hisar for April 2016 to June 2016 (per gram of 24 karat gold)

Factor	April	May	June
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 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

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