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Having a rich historical heritage, Jabalpur was ruled by some prosperous kings. With royalty came the fascination for gold. Now a tier 2 city in Madhya Pradesh, Jabalpur is not only flourishing in the agricultural sector, it also has a number of industries. Apart from that, Jabalpur is also home to ordnance factories and defence organizations. Due to a strong economy, people invest in gold, since it is a safe haven during a crisis.

Gold Price in Jabalpur

Owing to market trends, economic scenario, and international trading, the price of the yellow metal in Jabalpur may fluctuate for short or medium term. A volatility in prices does not depreciate the value of gold. People in Jabalpur can purchase the yellow metal as bars, coins, and jewellery of weights 1 gram, 10 gram, 50 grams, and 100 grams. Gold is usually available in values 24 karats and 22 karats, with prices varying due to the quality of the precious metal.

Gold Rate Trend in Jabalpur for April 2017 to June 2017 (per gram of 24 karat gold)

Gold rate trend in Jabalpur for April 2017

• Gold prices in Jabalpur rose at the beginning of April as demand was high following a period of market volatility.
• The yellow metal was priced at Rs.3,011 per gram on 1 June and rose to trade at Rs.3,043 from 4-9 April as the U.S. dollar was weak, resulting in greater demand for gold.
• Markets recovered in spite of the socio-political crisis engulfing the U.S. administration, which led to a reduction in overseas demand for gold, which led to prices falling to Rs.3,025 per gram from 10-25 April.
• While demand was muted, local demand was consistent and helped keep prices from falling.
• European markets fluctuated due to the upcoming French presidential election, though the volatility did not impact the gold rate in Jabalpur significantly.
• Prices rose marginally as the month drew to a close, as gold traded at Rs.3,048 per gram on 27 April.
• Gold enjoyed a late rally as prices reached Rs.3,061 per gram on 30 April as the metal’s value increased by 1.66% over the course of the month.

Gold rate trend in Jabalpur for May 2017

• Gold prices fluctuated in the first week of May as the French presidential election result led to a steep fall in demand for gold.
• The yellow metal traded at Rs.3,061 per gram on 1 May but fell to Rs.2,996 per gram on 5 May due to a rally by markets following the French election result.
• Demand from local jewellers also fell, resulting in gold prices falling to Rs.2,956 per gram on 11 May as investors reduced their interest in the metal.
• The U.S. dollar was weak but reduced demand from the retail sector coupled with declining orders from Asia led to gold prices fluctuating.
• Gold fell to Rs.3,017 per gram on 21 May before prices rose marginally as demand from Asia picked up.
• The month ended with gold trading at Rs.3,046 per gram on 31 May, though prices fell by 0.49% over the course of the month.

Gold rate trend in Jabalpur for June 2017

• Initial trends in Jabalpur for the month of June saw gold prices rise, trading at Rs.3,046 per gram on 1 June before rising to Rs.3,077 per gram on 7 June due to market volatility.
• As the U.S. dollar weakened against other global currencies, demand for gold spiked among Asian countries, which kept prices more or less stable at Rs.3,053 per gram from 9-14 June.
• In spite of favourable market conditions, there was a reduction in demand for gold as stock markets recovered marginally.
• The G20 summit and its implications on the world of finance led to markets rallying, which reduced investors’ dependence on bullion.
• Gold fell to Rs.3,033 per gram with the price remaining constant from 15-29 June as there was minimal movement with regard to gold trading.
• Prices rose on the last day of the week, as gold traded at Rs.3,055 per gram on 30 June.
• In spite of the late rise in price, gold prices gained 0.29% over the course of the month.

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

Gold Rate Trend in Jabalpur for January 2017:

• Gold trading prices in Jabalpur seemed to increase during the first quarter of 2017.
• Prices rose significantly from Q4 2016, during which period gold trading took a massive hit due to demonetisation.
• When January began, gold was trading at Rs.2,884 per gram, which seemed to go up as days went by.
• Gold prices were at their lowest on the 1st and the 3rd, meaning January was a very good period for bullion.
• From 16th to 27th, gold prices remained unchanged at Rs.2,997 per gram, which also happened to be the highest gold rate for the entire month.
• Price trends saw an inclined growth in January at a rate of 3.50% as demand rose.

Gold Rate Trend in Jabalpur for February 2017:

• Although February saw gold price trend continue on a positive note, the extent of the inclination was slightly lower than that of January.
• The month began with gold selling at Rs.2,985 per gram and increased significantly as days went by.
• This was the month when Donald Trump took a number of executive decisions as US President, which resulted in markets turning volatile.
• When President Trump’s travel ban was halted by a court, gold prices seemed to pick up to Rs.3,054 per gram, which happened towards the end of the month.
• February came to an end with gold rates holding at Rs.3,054 per gram - the highest gold rate for the entire quarter.
• Bullion price trends changed at a rate of 2.33% for the month of February.

Gold Rate Trend in Jabalpur for March 2017:

• Compared to the previous two months, gold prices endured an off-month in March as prices seemed to fall.
• Most of the fluctuations and the subsequent fall could be attributed to the US Federal Reserve rate hike, which increased the value of the dollar.
• As bullion is traded in dollar, an increasing dollar price meant an increase in gold prices, which then led to low demand.
• When trading began for March, gold was selling at Rs.3,054 per gram and hit the lowest on 15th to Rs.2,968 per gram as demand began to fall.
• By the end of the month,however, prices rallied to end at Rs.3,011 per gram.
• The last month of Q1 2017 saw gold prices decline at a rate of 1.40%

24k Gold

Gold of 24 karat is pure gold, which is mainly available in the form of coins. Due to its softness, 24 karat gold cannot be crafted into jewellery, unless it is mixed with some alloy. People generally buy coins of 24 karat gold. As on March 14, 2016 one gram gold is valued at Rs 2,975. With prices in the global market fluctuating, the value of gold can either increase or decrease in the coming days.

22k Gold

Gold available in 22 karats is a cheaper variation of the yellow metal. Rated 92% pure, this form is widely used to make ornaments. The rate of 1 gram gold on March 14, 2016 is Rs 2,778.

Gold investment avenues in Jabalpur

Gold has always been a preferred investment and is always considered as an earning asset. Though gold may witness price fluctuations from time to time, there has been no drastic depreciation in value of the yellow metal. It is considered a safe and secure form of investment. This precious metal can be bought in the form of bars, coins, jewellery, and also be traded.

Over-the-counter:

There are a number of jewellers in Jabalpur who sell gold in the form of ornaments, coins, bars and in other customized forms according to the customer’s requirement. Considered as an ideal investment mode, gold should always be bought from authorized places. It is also advisable to look for BIS certification while purchasing the yellow metal. A certificate of authenticity which contains amount of gold purchased, rate on the date of purchase, and details of purity, – along with the gold is also a must. This certificate can prove helpful in case of a resale. Nationalized banks also sell certified coins. However, there is no buy-back policy in banks.

Market trade:

The awareness and demand of gold as a tradable commodity is increasing among the people of Jabalpur. Apart from buying gold in the form of bullions, coins, and ornaments, people are also investing in paper gold. As an investment, the yellow metal can be bought as gold futures, as well as Exchange Traded Funds or ETFs. It is easy to buy gold futures early and sold later when the market experiences instability in gold prices

**Disclaimer: The gold rates mentioned above are subject to change as per the market conditions. Before buying gold, it is advisable to refer the current rates.**