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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 April 2017 to June 2017 (per gram of 24 karat gold)

Gold rate trend in Hisar for April 2017

• Gold prices in Hisar were on the increase at the start of April due to consistent industrial demand, trading at Rs.2,991 per gram on 1 April.
• Prices dipped marginally due to fluctuations in demand, trading at Rs.2,983 per gram on 9 April as local demand was muted.
• A declining U.S. dollar led to increased orders from overseas markets, which pushed prices to Rs.3,036 per gram on 12 April and further to Rs.3,068 per gram on 15 & 16 April.
• Markets were also sluggish due to poor data from the U.S. jobs market, as investors turned to bullion to recover from stock market losses.
• Prices remained high as the month progressed, with gold trading at Rs.3,062 per gram on 22 & 23 April.
• Demand began to stagnate as the month drew to a close, with gold prices falling to Rs,3,011 per gram from 26-30 April.
• In spite of the fall in price towards the end of the month, gold prices rose by 0.66% over the course of the month.

Gold rate trend in Hisar for May 2017

• Gold prices in May fell due to decreasing demand from overseas as well as local markets.
• Gold was priced at Rs.3,011 per gram on 1 May, with the price falling to Rs.2,942 per gram on 8 May as markets surged following the victory of Emmanuel Macron in the French presidential election.
• Prices continued to fall as the week progressed, trading at Rs.2,918 per gram from 11-15 May.
• A marginal rise in demand from China led to gold trading at Rs.2,992 per gram on 18 May as local markets also increased orders.
• Gold was priced at Rs.2,977 per gram from 21-25 May as demand was consistent due to a drop in the U.S. dollar rate.
• Geopolitical tensions and poor market performance led investors to gold, which kept prices stable.
• The month ended with gold trading at Rs.2,992 per gram on 31 May, though prices fell by 0.63% over the course of the month.

Gold rate trend in Hisar for June 2017

• Gold prices were on the ascent, trading at Rs.3,012 per gram on 1 June as the U.S. dollar weakened due to political turmoil and a slump in the markets.
• Prices rose to Rs.3,057 per gram on 7 June as local demand increased on positive global cues.
• As the markets settled, demand for gold slipped marginally, with the yellow metal trading at Rs.3,007 per gram from 10-15 June.
• The drop in price continued as overseas demand for gold fell sharply as the U.S. dollar recovered some of its value, with gold priced at Rs.2,982 per gram on 19 June.
• Prices fluctuated for the rest of the month as industrial and local demand was poor, leading to gold falling to Rs.2,982 per gram on 27 June.
• A late rally by the metal saw prices rise to Rs.2,992 per gram on 30 June, though the metal’s value fell by 0.66% over the course of the month.

Gold Rate Trend in Hisar for January 2017 to March 2017 (per gram of 24 karat gold)

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 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 Price in NearBy Cities of Hisar