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Gold Price in Jabalpur
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.
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 January 2020 to March 2020 (per gram of 24 karat gold)
|1st Day||Rs.3,985 per gram||Rs.4,179 per gram||Rs.4,263 per gram|
|Last Day||Rs.4,179 per gram||Rs.4,358 per gram||Rs.4,158 per gram|
|Highest Price||Rs.4,216 per gram on 9 January||Rs.4,410 per gram on 25 February||Rs.4,531 per gram on 7, 8 and 9 March|
|Lowest Price||Rs.3,985 per gram on 1 January||Rs.4,132 per gram on 7 February||Rs.4,116 per gram on 18 March|
Quarterly Gold Rate in Jabalpur from January 2020 to March 2020:
- The price of gold in Jabalpur for the month of January opened at Rs.3,985 per gram. It was also the lowest price for the month. Overall, gold prices increased by 4.86% over the course of the month. The trade deal between China and the US and the tensions between the Middle East and the US saw investors shift towards the bullion market. On 9 January 2020, gold hit its highest rate for the month and was at Rs.4,216 per gram. The main reason for the increase in prices was due to the progress made in the trade deal between China and the US. Gold closed the month at Rs.4,179 per gram.
- The prices of gold continued to increase in Jabalpur for the month of February. Gold opened at Rs.4,179 per gram and closed at Rs.4,358 per gram. On 7 February 2020, the price of gold hit its lowest for the month and was at Rs.4,132 for a gram. A strong US dollar and the stock markets being down saw the prices of gold fluctuate till mid-February. However, the coronavirus outbreak saw gold prices increase as investors considers the yellow metal as a safe haven. Gold hit its highest rate for the month on 25 February 2020 and was at Rs.4,410 per gram.
- In March, the prices of gold opened at Rs.4,263 for a gram in Jabalpur. The prices of gold dropped by Rs.95 when compared to the last day of February. In the first week of the month, gold rates jumped significantly as investors were expecting the US Federal Reserve to cut the interest rates. On 7, 8, and 9 March, gold hit its highest rate for the month and was at Rs.4,531 for a gram. After fluctuating throughout the second week, gold prices reduced drastically in the third week due to the coronavirus outbreak. During this period, gold hit its lowest rate for the month on 18 March and was at Rs.4,116 for a gram. However, the US Federal Reserve launched several measures to help the economy during the coronavirus pandemic. This ensured that gold prices did not drop further by the end of the month. Gold rates closed the month at Rs.4,158 per gram, seeing a decline of 2.46%.
Gold Rate Trend in Jabalpur for October 2019 to December 2019 (per gram of 24 karat gold)
|1st Day||Rs.3,864 per gram||Rs.3,938 per gram||Rs.3,917 per gram|
|Last Day||Rs.3,969 per gram||Rs.3,885 per gram||Rs.3,985 per gram|
|Highest Price||Rs.3,969 per gram from 26 to 31 October||Rs.3,980 per gram from 3 to 8 November||Rs.3,985 per gram from 28 to 31 December|
|Lowest Price||Rs.3,806 per gram on 2 and 3 October||Rs.3,885 per gram on 29 and 30 November||Rs.3,854 per gram from 12 to 14 December|
Gold Rate Trend in Jabalpur for July 2019 to September 2019 (per gram of 24 karat gold)
|1st Day||Rs.3,486 per gram||Rs.3,575 per gram||Rs.3,953 per gram|
|Last Day||Rs.3,575 per gram||Rs.3,953 per gram||Rs.3,864 per gram|
|Highest Price||Rs.3,607 per gram on 27 July||Rs.4,010 per gram on 27 August||Rs.3,980 per gram on 5 September|
|Lowest Price||Rs.3,434 per gram on 3 July||Rs.3,549 per gram on 2 August||Rs.3,833 per gram on 23 September|
Gold Rate Trend in Jabalpur for April 2019 to June 2019 (per gram of 24 karat gold)
|1st day||Rs.3,266 per gram||Rs.3,281 per gram||Rs.3,255 per gram|
|Last day||Rs.3,297 per gram||Rs.3,255 per gram||Rs.3,486 per gram|
|Highest price||Rs.3,297 per gram on 28-30 April||Rs.3,318 per gram from 16-18 May||Rs.3,533 per gram on 26 and 27 June|
|Lowest price||Rs.3,245 per gram from 20-22 April||Rs.3,213 per gram from 4 May||Rs.3,255 per gram on 1 June|
Gold Rate Trend in Jabalpur for January 2019 to March 2019 (per gram of 24 karat gold)
|1st day||Rs.3,219 per gram||Rs.3,411 per gram||Rs.3,439 per gram|
|Last day||Rs.3,411 per gram||Rs.3,439 per gram||Rs.3,266 per gram|
|Highest price||Rs.3,411 per gram on 31 January||Rs.3,446 per gram from 20-27 February||Rs.3,439 per gram on 1 March|
|Lowest price||Rs.3,219 per gram from 1-3 January||Rs.3,398 per gram from 8-19 February||Rs.3,281 per gram on 22 March|
Gold Rate Trend in Jabalpur for January 2019:
- Despite strong overseas cues, gold prices in Jabalpur opened at Rs.3,219 per gram on subdued local offtake as industrial units and a steady U.S. dollar dampened retail demand.
- Prices surged to Rs.3,284 per gram from 4-14 January as the economic effects of the ongoing U.S. government shutdown rattled markets and resulted in higher demand volumes from investors.
- The steady growth in gold rates continued, with the metal trading at Rs.3,341 per gram on 19 January as Brexit fears and the impact of the Sino-U.S. trade dispute kept the dollar rate low.
- A brief dip to Rs.3,331 per gram on 22 January apart, the precious metal enjoyed a surge in interest as prices once again rose to Rs.3,375 per gram on 30 January before closing the month at Rs.3,411 per gram on positive global cues and encouraging local demand.
- As markets settled and global currencies recovered from the previous month’s turbulence, gold rates in Jabalpur opened unchanged at Rs.3,411 per gram and remained constant for a few days.
- With investors awaiting the Fed Reserve’s policy meeting, demand for bullion dropped as local demand stagnated, with the metal trading at Rs.3,398 per gram from 8-18 February.
- Brexit’s impact on global markets and weak financial data once again boosted demand for bullion as the precious metal rose sharply to trade at Rs.3,446 per gram on 20 February, with prices remaining steady for nearly a week.
- Despite steady local demand, a gradual decrease in overseas interest in the yellow metal resulted in prices falling to Rs.3,439 per gram on 20 February.
Gold Rate Trend in Jabalpur for March 2019:
- Opening unchanged at Rs.3,439 per gram, gold prices in Jabalpur saw a steep dip in fortunes as local demand was unable to keep prices from dipping as overseas and industrial interest waned.
- Gold fell to Rs.3,313 per gram on 7 March as robust jobs data bolstered the U.S. dollar and equities, prompting reduced investor appetite for bullion as the metal dropped further to Rs.3,297 per gram on 13 March.
- Prices rose briefly to Rs.3,318 per gram on 15 March but sank to Rs.3,266 per gram on 20 March despite positive overseas cues.
- A halt in interest rate hikes saw the yellow metal rise to Rs.3,302 per gram from 24-30 March as local retail and jeweller demand kept prices stable but the end of the month saw gold sink to Rs.3,266 per gram to record a loss in value of 5.03%.
Gold Rate Trend in Jabalpur for October 2018 to December 2018 (per gram of 24 karat gold)
|1st day||Rs.3,140 per gram||Rs.3,302 per gram||Rs.3,131 per gram|
|Last day||Rs.3,302 per gram||Rs.3,140 per gram||Rs.3,219 per gram|
|Highest price||Rs.3,302 per gram on 30 and 31 October||Rs.3,302 per gram on 1 November||Rs.3,234 per gram from 11 to 17 December|
|Lowest price||Rs.3,228 per gram on 9 October||Rs.3,140 per gram on 30 November||Rs.3,127 per gram on 2 and 3 December|
Gold trend in Jabalpur for October 2018
- In October, as the rupee strengthened against the dollar, the demand for gold increased in the country, leading to an increase in price in Jabalpur.
- The price of the metal on 1 October 2018 was Rs.3,140 per gram and increased to Rs.3,228 by the middle of the month as the local jewellers saw an increase in demand ahead of the festivals of Diwali and Dhanteras in the country.
- Apart from the festivities in the country, the price of gold also increased in lieu of various political events happening globally. The Brexit negotiations in Europe, the US-China trade war as well as the budgetary crisis in Italy, all contributed to the fall of the markets.
- Due to this, investors focused on the bullion, resulting in the increase in demand. Gold was priced the highest on 30 October 2018 and 31 October 2018 at Rs.3,302 per gram with a percentage incline of 5.15%.
Gold trend in Jabalpur for November 2018
- The price of gold decreased in the month of November as the dollar recovered from being in the low in October. Due to this, the rupee decreased leading to the decrease in demand.
- At the beginning of the month, the price of the metal was Rs.3.302 per gram and was steady in the first week due to Diwali and Dhanteras as the demand was comparatively high. However, the price decreased by almost Rs.100 to Rs.3,209 by the middle of the month.
- Gold prices fluctuated in the second half of the month as the value of the rupee kept decreasing against the dollar. However, the price of the metal increased marginally when the Central Bank announced the slow pace of interest rate hikes in the following year.
- Gold took a major hit in the last week of November, when the price hit Rs.3,171 per gram, closing the month at a low of Rs.3,140 per gram resulting in a percentage decline of 4.90.
Gold trend in Jabalpur for December 2018
- For the month of December, the price of gold increased considerably as the rupee recovered against the dollar, resulting in the increase in demand.
- Gold prices opened the month at Rs.3,131 per gram and increased to Rs.3,234 per gram from 11 December 2018 to 17 December 2018 which was the highest price of the metal in December.
- In this month, gold prices saw a surge due to the markets falling as a result of the US-China trade truce.
- With a percentage incline of 2.91, gold prices closed the month on 31 December 2018 at Rs.3,219 per gram.
Gold Rate Trend in Jabalpur for July 2018 to September 2018 (per gram of 24 karat gold)
|1st day||Rs.3,142 per gram||Rs.3,091 per gram||Rs.3,104 per gram|
|Last day||Rs.3,095 per gram||Rs.3,104 per gram||Rs.3,140 per gram|
|Highest price||Rs.3,148 per gram from 5 - 7 July||Rs.3,104 per gram from 28 to 31 August||Rs.3,178 per gram on 27 and 28 September|
|Lowest price||Rs.3,082 per gram on 19 - 24 July||Rs.3,031 per gram on 20 and 21 August||Rs.3,104 per gram on 1 September|
Gold Rate Trend in Jabalpur for July 2018
- Although domestic demand for gold in Jabalpur was stable at the start of the month, the drop in the rupee dented demand from investors in the following weeks, decreasing the value of gold.
- Gold in the city, for the month of July, commenced trading at Rs.3,142 per gram. On 5 - 11 August, gold was priced at Rs.3,148 per gram, the highest it stood for the month.
- Demand for the metal dipped as domestic industries caused a reduced offtake.
- From 19-24, gold was priced at a monthly low of Rs.3,082 per gram as the rupee dipped in value causing demand for the metal to plunge.
- The month of July recorded a loss of 1.49% as it was priced at Rs.3,095 per gram at the end of the month.
Gold Rate Trend in Jabalpur for August 2018
- Demand for gold in Jabalpur surged as trade disputes between the United States and China intensified.
- The month began with gold being priced at Rs.3,091 per gram as demand from investors rose.
- On 20 August, the value of gold in Jabalpur fell substantially as it was priced at Rs.3,031 per gram.
- On 31 August, gold was trading at Rs.3,104 per gram, recording an increment of 0.42%.
Gold Rate Trend in Jabalpur for September 2018
- The month began with gold priced at Rs.3,104 per gram with a steady rise in local retail demand due to the upcoming festive season.
- A sluggish rupee capped gains from bullion, as industrial demand was stagnant due to rising costs associated with a strengthening dollar.
- Gold prices in Jabalpur were static till the end of the month when volatile stock markets saw a rise in investor interest in bullion and subsequently raised prices.
- The precious metal reached a monthly high of Rs.3,178 per gram on 27 September but was unable to maintain this momentum, closing the month at Rs.3,140 per gram.
- In spite of a sharp decline towards the end of the month, gold prices rose by 1.15% during the course of the month.
Gold Rate Trend in Jabalpur for April 2018 to June 2018
Rs.3,148 per gram
Rs.3,219 per gram
Rs.3,208 per gram
Rs.3,219 per gram
Rs.3,208 per gram
Rs.3,142 per gram
Rs.3,232 per gram on 26 and 27 April
Rs.3,228 per gram from 8 - 16 and 25 - 30 May
Rs.3,208 per gram from 1-4 June
Rs.3,148 per gram from 1 April to 12 April
Rs.3,205 per gram from 17 to 24 May
Rs.3,142 per gram on 30 June
Gold Rate Trend in Jabalpur for April 2018:
- Trading opened for the month with gold price in Jabalpur holding at Rs.3,148 per gram on the 1st with subdued local demand amid the weak market trend overseas.
- Poor global demand coupled with the strong US dollar and equities led to gold rates remaining untouched at Rs.3,148 per gram until the 12th.
- However, demand improved towards the end of the month with investors banking on the bullion amid the rising geopolitical tensions and gold was priced at Rs.3,232 per gram on the 26th.
- The month concluded with gold rate in Jabalpur closing at Rs.3,219 per gram on the 30th, registering an increase of 2.25% in bullion trade during the month.
Gold Rate Trend in Jabalpur for May 2018:
- The month began with gold trading at Rs.3,219 per gram on the 1st with steady demand from local industries, jewellers and retailers amid firm overseas trends.
- Rates surged to Rs.3,228 per gram on the 8th and continued holding at the same price until the 16th with strong investor demand brought about by positive global cues.
- However, with the US dollar index regaining lost ground from the previous losses, demand plunged and gold price in Jabalpur was recorded holding at Rs.3,205 per gram from the 17th to the 24th.
- The month came to an end with the precious metal priced at Rs.3,208 per gram with subdued but steady demand from local industries and retailers amid the poor trend overseas.
Gold Rate Trend in Jabalpur for June 2018:
- Trading concluded for the month with gold priced at Rs.3,208 per gram on the 1st with steady domestic demand amid the firm market trends. This was also the highest recorded monthly figure in the city.
- The month witnessed gold rate in Jabalpur greatly impacted by the demand vagaries brought about by the unevenly performing US dollar and equities overseas.
- When trading came to an end, the yellow metal was recorded trading at a monthly low of Rs.3,142 per gram on the 30th with poor demand from local industries and jewellers amid the weak trend overseas.
- Jabalpur recorded a decline of 2.05% in gold prices during the course of the month.
Gold Rate Trend in Jabalpur for January 2018 to March 2018 (per gram of 24 karat gold)
|1st day||Rs.3,093 per gram||Rs.3,128 per gram||Rs.3,147 per gram|
|Last day||Rs.3,121 per gram||Rs.3,147 per gram||Rs.3,148 per gram|
|Highest price||Rs.3,164 per gram on 25 January||Rs.3,148 per gram on 3, 4, 5, 7 and from 17 to 22 February||Rs.3,148 per gram on 8 & 9 and from 24-31 March|
|Lowest price||Rs.3,080 per gram from 4 to 8 January||Rs.3,091 per gram from 9-11 February||Rs.3,123 per gram from 17-23 March|
Gold Rate Trend in Jabalpur for January 2018:
- When trading started for 2018 on January 1, gold was priced at Rs.3,093 per gram.
- This month’s trading was highlighted by a weak demand in the beginning, which picked up as the days passed.
- The lowest gold rate for the month was recorded between the 4th to the 8th when the metal traded at Rs.3,080 per gram.
- On the 25th, gold hit its highest monthly figure when it traded at Rs.3,164 per gram, as demand surged ahead of a shaky dollar.
- The month ended with gold trading at Rs.3,121 per gram.
- 2018 began on a positive note with gold price trends recording a 0.90% change over this month’s trading sessions.
Gold Rate Trend in Jabalpur for February 2018:
- February’s trading commenced with gold being priced at Rs.3,128 per gram.
- This month, the highest gold rate was Rs.3,148 per gram, which was recorded on a number of occasions. Periods in and between the 3rd to 7th and the 17th to the 22nd saw the metal trade at this rate.
- Demand was slightly weak towards the beginning of the second week and gold traded at Rs.3,091 per gram from the 9th to the 11th.
- The remaining days of the month, gold rates in Jabalpur fluctuated on a regular basis as there was no one clear indication to keep them steady.
- The month ended with gold being priced at Rs.3,147 per gram on the final day.
- A 0.60% change in price trends was recorded this month, thanks to a high demand seen on various occasions this month.
Gold Rate Trend in Jabalpur for March 2018:
- Gold was still priced at Rs.3,147 per gram when March’s trading began.
- Demand for the precious metal was largely consistent this month and there were very few changes in prices to be seen.
- Days between the 17th to the 23rd saw gold trade at its lowest value of Rs.3,123 per gram. This was the period when local demand seemed to slowed down.
- The 24th to the 31st, consequently, witnessed gold trade at its highest of Rs.3,148 per gram.
- When March drew to a close, gold was last seen at Rs.3,148 per gram, and a marginal 0.03% change in price trend was recorded over this month.
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Gold Rate Trend in Jabalpur for October 2017 to December 2017 (per gram of 24 karat gold)
|1st day||Rs.3,127 per gram||Rs.3,087 per gram||Rs.3,078 per gram|
|Last day||Rs.3,088 per gram||Rs.3,081 per gram||Rs.3,093 per gram|
|Highest price||Rs.3,135 per gram from 12 to 17 October||Rs.3,115 per gram on 19 and 2 November||Rs.3,094 per gram from 2 to 4 December|
|Lowest price||Rs.3,002 per gram from 23 to 25 October||Rs.3,061 per gram from 6 November||Rs.2,998 per gram on 12 and 13 December|
Gold Rate Trend in Jabalpur for October 2017:
- The price of gold in Jabalpur was a steady Rs.3,063 per gram as the month began.
- A decrease in gold price in Jabalpur was recorded due to fluctuations in the market, with the price dropping to Rs.3,028 per gram on 6th October.
- Strong equity markets as well as a stable U.S. Dollar kept demand for gold muted overseas, leading to flat trading in the metal.
- The festive season and Diwali also failed to impact gold prices, which remained low for most of the month.
- Uncertainty over the U.S.’s trade negotiations and sluggish local demand kept prices low towards the end of the month.
- Gold rate in Jabalpur dropped to a monthly low of Rs.3,026 per gram from 27th-30th October as steady equity markets as well as a decline in interest in bullion resulted in gold prices stagnating.
- The month ended with gold recovering marginally to close trading at Rs.3,026 per gram on 31st October and register a loss of 1.20%.
Gold Rate Trend in Jabalpur for November 2017:
- The month of November saw the price of gold rise to Rs.3,006 per gram on 1 November as demand picked up following a lean period.
- International markets were unstable after the U.S. Dollar dropped, resulting in greater local demand for the metal.
- Prices began to rise towards the middle of the month as local jewellers and retail demand picked up.
- Persistently low dollar rates as well as the festive season led to a surge in demand for gold, which led to the metal trading at Rs.3,060 per gram on 18th November.
- Gold prices in Jabalpur were more or less steady as the month wore on, due in part to increased orders by local jewellers.
- Political uncertainty and the rising rhetoric against North Korea led to a loss in investor confidence in equities, which also drove higher demand for gold.
- Prices dropped marginally as the month came to a close, with gold trading at Rs.3,026 per gram on 30th November to register a rise of 0.66%.
Gold Rate Trend in Jabalpur for December 2017:
- The last month of the year saw demand for gold fluctuate due to geopolitical factors and sharp price discrepancies.
- Gold opened the month trading at Rs.3,016 per gram, with prices falling as markets recovered after a period of geopolitical turmoil in the United States.
- Local demand kpet prices steady in the face of a global decline in demand for gold, though prices continued to drop.
- Prices kept fluctuating as demand from Asian nations was weak as analysts anticipated further drops in the price of the precious metal.
- Gold continued to make slight losses as the month ended on 31st December, with the metal priced at Rs.2,020 per gram.
Gold Rate Trend in Jabalpur for July 2017 to September 2017 (per gram of 24 karat gold)
|1st day||Rs.3,055 per gram||Rs.2,988 per gram||Rs.3,045 per gram|
|Last day||Rs.2,988 per gram||Rs.3,045 per gram||Rs.3,127 per gram|
|Highest price||Rs.3,055 per gram on 1 and 2 July||Rs.3,045 per gram from 29-31 August||Rs.3,186 per gram from 9 to 13 September|
|Lowest price||Rs.2,902 per gram on 10 July||Rs.2,978 per gram on 8 August||Rs.3,045 per gram on 1 September|
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Gold Rate Trend in Jabalpur for July 2017:
- Gold traded at Rs.3,055 per gram on the 1st of July before fluctuating significantly over the course of the month.
- Due to weak industrial and volatile markets, gold rates saw massive drops throughout the first few week.
- Demand was affected so much that, gold rates hit a monthly low of Rs.2,902 per gram on the 10th of July, and prices fell by Rs.153 over a 10-day period.
- Some unwarranted aggression from North Korea pushed gold rates back up as safe-haven investments increased.
- After the initiial fall, gold rate in Jabalpur recovered to end the month at Rs.2,988 per gram.
- Weak global demand combined with the impact of GST saw gold rates dip by 2.13% for the month.
Gold Rate Trend in Jabalpur for August 2017:
- The month of August saw gold perform well, thanks to a major geopolitical issue combined with various other factors.
- Gold was priced at Rs.2,988 per gram on the 1st of August.
- Rising tension between the United States and North Korea sent markets into a frenzy, pushing gold rates up towards the end of the month.
- From the 29th to the 31st of the month, gold traded at a monthly high rate of Rs.3,045 per gram.
- Gold rate in Jabalpur surged by 1.90% this month as local markets recovered from GST’s impact and investors improved their investment.
Gold Rate Trend in Jabalpur for September 2017:
- When September began, gold was priced at Rs.3,045 per gram.
- This rate went up to Rs.3,186 per gram on the 9th as North Korea confirmed reports about its most ambitious, underground nuclear test.
- Gold rates in Jabalpur remained at Rs.3,186 per gram till the 13th as demand from local investors was supplemented by strong cues globally.
- The US dollar, however, regained some of its sheen as markets recovered to push gold rates down.
- But, festive demand led to price increase towards the end of the month, with the metal trading at Rs.3,165 per gram.
- Demand, though, simmered down as the month drew to a close. Buoyed by multiple festivals, gold rates surged by 2.69% this month.
Gold Rate Trend in Jabalpur for April 2017 to June 2017 (per gram of 24 karat gold)
|1st day||Rs.3,011 per gram||Rs.3,061 per gram||Rs.3,046 per gram|
|Last day||Rs.3,061 per gram||Rs.3,046 per gram||Rs.3,055 per gram|
|Highest price||Rs.3,061 per gram on 29 April and 30 April||Rs.3,061 per gram on 1 May & 2 May May||Rs.3,077 per gram on 7 June and 8 June|
|Lowest price||Rs.3,011 per gram from 1 April to 3 April||Rs.2,956 per gram from 11 May to 16 May||Rs.3,046 per gram on 1 June and 2 June|
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)
|1st day||Rs.2,884 per gram||Rs.2,985 per gram||Rs.3,054 per gram|
|Last day||Rs.2,985 per gram||Rs.3,054 per gram||Rs.3,011 per gram|
|Highest price||Rs.2,997 per gram from 16th to 27th January||Rs.3,054 per gram from 24th to 28th February||Rs.3,054 per gram on 1st and 2nd March|
|Lowest price||Rs.2,884 per gram on 1st & 3rd January||Rs.2,985 per gram on 1st February||Rs.2,968 per gram on 15th of March|
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%
|1st day||Rs.3,249 per gram||Rs.3,168 per gram||Rs.2,938 per gram|
|Last day||Rs.3,168 per gram||Rs.2,975 per gram||Rs.2,884 per gram|
|Highest price||Rs.3,249 per gram on 1st & 2nd October||Rs.3,247 per gram on 11th & 12th November||Rs.2,938 per gram from 1st-7th December|
|Lowest price||Rs.3,133 per gram from 14th-19th October||Rs.2,949 per gram from 25th-27th November||Rs.2,810 per gram from 22nd-26th December|
Gold Rate Trend for Jabalpur in October 2016
- Gold prices in Jabalpur appreciated in the first week of October, trading at Rs.3,249 per gram on 1st October.
- A sudden drop in demand due to rising markets led to a marginal decline in price, though domestic demand kept prices stable.
- Strengthening markets due to strong economic data led to a decrease in gold demand, which led to prices falling to Rs.3,133 per gram on 14th October.
- Reduced demand from the jewellery sector due to enhanced scrutiny of purchases led to a lowering of demand from the domestic market as well.
- Prices recovered marginally as the month ended, though prices were still lower than expected, as gold traded at Rs.3,168 per gram on 31st October, resulting in an overall decline in price of 2.49%.
Gold Rate Trend for Jabalpur in November 2016
- Prices in November showed extreme volatility due to fluctuating markets.
- Gold traded at Rs.3,168 per gram on 1st November and prices rose to Rs.3,197 per gram in the next few days due to uncertainty in the U.S. markets.
- The demonetisation policy and the surprise victory of Donald Trump led to markets crashing across the world, which increased demand for gold and led to a rise in price.
- As markets stabilised, demand fell as industrial demand declined globally due to fears of a slowdown in Asian markets.
- The currency crisis in India led to reduced demand for retail gold during the festive season, which kept gold prices low.
- A slight recovery led to prices reaching Rs.3,012 per gram on 23rd November before declining demand led to a drop.
- Gold ended the month trading at Rs.2,975 per gram on 30th November, a decline of over 5.50%.
Gold Rate Trend for Jabalpur in December 2016
- The last month of the year saw gold prices continue to slide due to poor demand and unfavourable market conditions.
- Gold traded at Rs.2,938 per gram on 1st December and remained stable for the week due to steady demand.
- Prices fell as markets rose on positive economic cues, resulting in demand for gold dropping.
- Christmas led to higher sales volumes, which boosted markets and currencies, reducing demand for gold as a safe haven asset.
- Prices fell to a low of Rs.2,810 per gram on 22nd December as retail demand also dropped.
- An easing of the currency shortage led to increased demand from jewellers, which raised domestic gold prices marginally.
- Gold ended the month trading at Rs.2,884 per gram, though the value of gold fell by 1.83% during the month.
|1st day||Rs.3,112 per gram||Rs.3,249 per gram||Rs.3,212 per gram|
|Last day||Rs.3,249 per gram||Rs.3,225 per gram||Rs.3,279 per gram|
|Highest price||Rs.3,246 per gram on 6th and 7th July||Rs.3,283 per gram on 18th August||Rs.3,285 per gram from 24th to 26th September|
|Lowest price||Rs.3,112 per gram on 1st July||Rs.3,225 per gram on 31st August||Rs.3,212 per gram on 1st and 2nd September|
Gold Rate Trend of Jabalpur in July 2016
- Gold traded at Rs.3,112 per gram on 1st July.
- Demand was high in domestic and global markets as prices rose consistently for most parts of the first two weeks.
- Prices fluctuated through most parts of the second and third week as marginal inclines were written off by subsequent declines.
- Prices remained constant at Rs.3,223 from the 22nd to the 30th of the month thanks to firming trends.
- The month closed with gold trading at Rs.3,249 per gram on 31st July.
Gold Rate Trend of Jabalpur in August 2016
- The rate of gold per gram on the 1st of August was recorded at Rs.3,249.
- Prices fluctuated as the month progressed, rising and falling on certain days until they gained stability at Rs.3,226 on the 6th and remained unchanged until the 9th.
- Domestic demand was stable as jewellers and retailers increased their offtake for the festive season, leading to a consistent increase in rates until the 18th when they hit Rs.3,283 – the highest recorded rate in August.
- Prices then fluctuated again and the yellow metal closed the month at Rs.3,225 per gram.
Gold rate trend of Jabalpur in September 2016
- Gold traded at Rs.3,212 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 remained stable from the 3rd of September to the 12th at Rs.3,229.
- Prices rose gradually until the 24th when they hit Rs.3,285 per gram and remained stable until the 26th of September.
- Prices remained constant for the last four days of the month and closed September at Rs.3,279 per gram.
|1st day||Rs. 2, 989 per gram||Rs. 3, 154 per gram||Rs.3,038|
|Last day||Rs. 3, 154 per gram||Rs. 3, 018 per gram||Rs.3,112|
|Highest price||Rs. 3, 154 per gram on 30th April, 2016||Rs. 3, 155 per gram from 7th- 11th May, 2016||Rs.3,192 per gram on 27th June|
|Lowest price||Rs. 2, 989 per gram from 1st-11th April, 2016||Rs. 3, 003 per gram on 30th May, 2016||Rs.3,015 per gram on 3rd June|
|Trend||Prices rose||Prices fell||Rise|
|change||+5.52% increase||-4.31% decrease||+2.44%|
Gold Rate Trend in Jabalpur in April 2016
- Gold traded at Rs. 2, 989 for a gram at the start of April as the jewellers strike continued.
- Poor demand kept the price stable for the week.
- The strike was called off, leading to an upsurge in demand that raised prices.
- International demand was muted but domestic demand kept pace, stabilising the price.
- Prices rose marginally in the last week, with gold gaining 5.52% in the month.
Gold Rate Trend in Jabalpur in May 2016
- Gold was trading at Rs. 3, 154 as demand continued to be strong.
- A stronger Dollar led to a drop in prices globally, which affected prices domestically.
- Renewed demand and market instability helped gold rally for a while, and prices reached a high of Rs. 3, 155.
- The near certainty of an interest rate hike led to the price plunging to a low of Rs. 3, 003 in the last week, with gold losing 4.31% of its value.
Gold Rate Trend of Jabalpur in June 2016
- Gold rates through the month of June stayed relatively constant and were not badly affected by the trends in the global markets.
- Gold traded at Rs.3,038 on 1st June and dipped to the lowest for the month at Rs.3,015 per gram on 3rd June.
- The highest recorded was Rs.3,192 per gram on 27th June.
- Domestic demand kept gold prices steady with a slight incline of 2.44%.
|1st day||Rs. 2,601 per gram||Rs. 2, 775 per gram||Rs. 3,068 per gram|
|Last day||Rs. 2,775 per gram||Rs. 3,068 per gram||Rs. 2,989 per gram|
|Highest price||Rs. 2,789 per gram on 27th and 28th Jan, 2016||Rs. 3,068 per gram on 27th and 28th Feb, 2016||Rs. 3, 093 per gram from 12th- 17th March, 2016|
|Lowest price||Rs. 2,601 per gram from 1st- 3rd Jan, 2016||Rs. 2,775 per gram on 1st and 2nd Feb, 2016||Rs. 2,989 per gram from 22nd- 31st March, 2016|
|Trend||Prices rose||Prices rose||Prices fell|
|Change||+6.68% increase||+10.55% increase||-2.57% decrease|
Gold Rate Trend in Jabalpur in January 2016
- The price of one gram of gold was Rs. 2, 601 in January, with prices rising due to high demand.
- Prices were stable for a week and then steadily began to climb as global markets experienced volatility due to a fluctuating Dollar.
- Domestic demand from jewellers continued to prop up the price domestically as gold prices fell internationally.
- A slump in the price in global markets led to a dip in price domestically but gold recovered to close the month at Rs. 2, 775.
Gold Rate Trend in Jabalpur in February 2016
- Gold began trading at Rs. 2,775per gram, continuing its stable run from the previous month.
- Gold continued to rally as domestic demand stayed constant due to the wedding season.
- Prices stayed high and increased as gold began to rally internationally as well.
- Prices dipped towards the end of the month but recovered to close at Rs. 3,068.
- Gold gained a whopping 10.55% in the month.
Gold Rate Trend in Jabalpur in March 2016
- The start of the month saw gold trading at Rs. 3,068 per gram as jewellers kept demand high.
- The announcement of a strike by jewellers nationwide led to demand stagnating.
- The price remained constant due to lack of demand from jewellers.
- Due to sustained drop in demand, the price fell towards the end of the month over uncertainty as to how long it would continue.
- Gold ended the month at a low of Rs. 2,989, a loss of 2.57%.
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.
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.
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.**
- Also Check: Gold Rate in Madhya Pradesh
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