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Gold Price In Jharkhand
Jharkhand is a Northern state in India which is is said to be very rich in culture and boasts of one of the most ancient but renowned universities of India, Nalanda. The state is very well established in terms of language and artistry and are said to be consisting a population that has a very simple taste and lead a humble lifestyle, but when it comes to jewelry, gold is an auspicious part of their day to day life. A woman from the state is often seen wearing some sort of gold ornament even if it is the form of a nose ring. However, in Jharkhand similar to other states in the country the rates are based on the prices around the region and fixed on the basis of the gold rates from the other parts of the country. Here, you will read about the general trend and rates of gold in the state.
Gold Rate Trend in Jharkhand for October 2020 to December 2020 (per gram of 24 karat gold)
|1st Day||Rs.5,222 per gram||Rs.5,222 per gram||Rs.4,835 per gram|
|Last Day||Rs.5,222 per gram||Rs.4,932 per gram||Rs.5,063 per gram|
|Highest Price||Rs.5,287 per gram on 13 October||Rs.5,257 per gram on 7, 8, and 9 November||Rs.5,120 per gram on 21 December|
|Lowest Price||Rs.4,914 per gram from 18 and 19 October||Rs.4,932 per gram on 28, 29, and 30 November||Rs.4,835 per gram on 1 December|
Quarterly Gold Rate in Jharkhand from October 2020 to December 2020:
- The prices of gold in Jharkhand for the month of October opened and closed at Rs.5,222 and Rs.5,222 for a gram respectively. The highest rate that the yellow metal touched for the month was on 13 October and was at Rs.5,287 per gram. The lowest rate that gold touched in October was Rs4,914 for a gram.
- In November, the prices of the yellow metal opened and closed at Rs.5,222 and Rs.4,932 for a gram, respectively. The highest and lowest rats that gold touched for the month were Rs.5,257 and Rs.4,932 per gram. Overall, gold rates declined by 5.55% over the course of the month.
- On 1 December, the price of gold in the state was at Rs.4,835 per gram. However, by the end of the month, gold rates increased by 4.71% and closed at Rs.5,063 for a gram. The lowest rate that the yellow metal hit in the month was on 1 December.
Gold Rate Trend in Jharkhand for July 2020 to September 2020 (per gram of 24 karat gold)
|1st Day||Rs.5,005 per gram||Rs.5,513 per gram||Rs.5,293 per gram|
|Last Day||Rs.5,431 per gram||Rs.5,293 per gram||Rs.5,198 per gram|
|Highest Price||Rs.5,431 per gram on 30 July and 31 July||Rs.5,786 per gram on 8, 9, and 10 August||Rs.5,345 per gram on 16 September and 17 September|
|Lowest Price||Rs.4,961 per gram from 7 July||Rs.5,263 per gram on 29 August||Rs.5,130 per gram on 29 September|
Quarterly Gold Rate in Jharkhand from July 2020 to September 2020:
- The Gold rate in July in Jharkhand opened at Rs.5,005 per gram and closed at Rs.5,431 per gram. The prices of gold had increased by 8.5% for this month. The outbreak of Covid-19 all over the world and the stimulus measures introduced by governments and central banks were the reasons behind the prices of gold rates rising significantly.
- On 1 August 2020, the price of gold was recorded to be at Rs.5,513 for a gram. By the end of the month, price of gold had reached Rs.5,293 per gram. Prices of gold in Jharkhand had dipped as many countries decided to reopen their economies. Gold rates declined by 3.99% in August.
- In September, the rates of the precious metal had dropped by 1.79%. Gold prices dropped due to the increase in appetite for riskier products. The gold prices in Jharkhand for the month of September opened at Rs.5,293 and closed at Rs.5,198.
Gold Rate Trend in Jharkhand for April 2020 to June 2020 (per gram of 24 karat gold)
|First Day||Rs.4,263 per gram||Rs.4,699 per gram||Rs.4,799 per gram|
|Last Day||Rs.4,761 per gram||Rs.4,799 per gram||Rs.5,005 per gram|
|Highest Price||Rs.4,846 per gram on 29 April||Rs.4,883 per gram on 18 and 19 May||Rs.5,013 per gram on 25 and 26 June|
|Lowest Price||Rs.4,263 per gram from 1 April to 20 April 2020||Rs.4,646 per gram on 2 May 2020||Rs.4,788 per gram on 8, 9, and 10 June 2020|
Quarterly Gold Rate in Jharkhand from April to June:
- For the month of April 2020, gold opened at the rate of Rs.4,253 per gram in Jharkhand. The price remained steady at this rate till the 20th of April 2020. The prices went up after that and recorded the highest price on the second last day of the month wherein it stood at the rate of Rs.4,846 per gram. It closed at the rate of Rs.4,761 per gram. There was a hike of 11.94% in the overall performance of the metal.
- Opening the month of May 2020 at the rate of Rs.4,699 per gram, gold prices in Jharkhand witnessed an overall incline for the month. The highest price of the yellow metal was recorded on the 18th and 19th of May wherein it stood at the rate of Rs.4,883 per gram. The month came to an end with the price of the precious metal standing at the rate of Rs.4,799 per gram. The overall performance increased by 2.12%.
- The price of the yellow metal opened the month of June 2020 at the rate of Rs.4,799 per gram and showed an overall inclining trend of 4.29% with risk appetite amongst investors increasing. The month came to a close with the highest price of gold being recorded from 8 to 10 June where it stood at the rate of Rs.5,013 per gram. Gold closed at the rate of Rs.5,005 per gram for the month.
Gold Rate Trend in Jharkhand for January 2020 to March 2020 (per gram of 24 karat gold)
|1st Day||Rs.4,027 per gram||Rs.4,199 per gram||Rs.4,303 per gram|
|Last Day||Rs.4,199 per gram||Rs.4,377 per gram||Rs.4,263 per gram|
|Highest Price||Rs.4,251 per gram on 9 January||Rs.4,405 per gram on 28 February||Rs.4,583 per gram on 7 March|
|Lowest Price||Rs.4,027 per gram on 1 January||Rs.4,160 per gram on 7 February||Rs.4,158 per gram on 18 March|
Quarterly Gold Rate in Jharkhand from January 2020 to March 2020:
- In January, gold opened at a price of Rs.4,027 and closed at Rs.4,199, with the lowest price also being on the first day of the month and the highest being in the second week of the month at Rs.4,251. Overall, the trend was an incline in prices of 4.27%. This was in keeping in line with the US-China trade war and the US-Iran conflict that was creating a lot of uncertainty in the stock markets, creating even more appeal for precious metals as a safe-haven investment. The bubbling coronavirus epidemic in China also caused disturbances in Asian stocks, further stoking the prices of gold. All prices given are per gram for 24 karat gold.
- In February, the price of gold opened at Rs.4,199 and closed at Rs.4,377. The highest price was towards the end of the month at Rs.4,405 while the lowest was at the end of the first week at Rs4,160 (all per gram for 24 karat gold). This was all driven by the coronavirus epidemic in China that had escaped the country’s borders and spread through more than 180 countries around the world. With stock markets crashing, the appeal of gold as a safe-haven investment continued to drive up its prices. However, a monetary policy intervention by China’s central bank helped to boost up the economy and stock market, which led to a dip in prices of gold as investors turned back towards equities. However, the appeal of the bullion market sprang back as the coronavirus continued its rampage across the world, thus affecting stocks and leading to a spike in prices of gold again by the end of the month. Overall, the trend in price of gold in February in Jharkhand was a definite incline of 4.23% in keeping with the trends in stocks and bullions.
- In March, the trend for gold was a complete opposite of what it was in January and February, driven by the coronavirus pandemic. With the World Health Organisation now declaring it as a pandemic, and more countries falling to the virus, even gold lost its appeal as a safe-haven investment in the light of fears of a global recession. Investors chose to sell equities and even precious metals, with little to no physical trading happening with lockdowns happening in almost every country. This led to the prices of gold plummeting spectacularly with an overall decline of –0.92%. The highest price was Rs.4,583 per gram for 24 karat gold in the first week of March with the lowest being Rs.4,158 per gram for 24 karat gold by 18 March.
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Gold as an investment in Jharkhand
When it comes to a safe investment option, Gold is considered to be one of the least riskiest of trading commodities in any market, whether regional or global. In Jharkhand too the yellow metal is considered an investment option that is lower on risk factors, primarily based on the fact that it is highly affordable and culturally significant as mentioned before. Most families find this metal auspicious such as weddings and Dhanteras season. Also families involved in marriage exchange gold ornaments as a tradition especially for the bride and the other female family members. Gold is the more expensive option when it comes to the white metal commodities but it is an investment opportunity especially for people who are looking to build wealth over the years or through trading. Investors in this part of the country also find it an integral part of their investment portfolio along with stock market and mutual fund investments. Investors have various options for gold trading through gold contracts and physical gold.
Physical Gold: If you are buying gold in Jharkhand, you have a variety options. This includes buying gold coins from jewelers as well as banks who offer products that are variegated in prices based on individual’s investment requirement and budget. Gold ornaments include chains, anklets, earrings, amulets, nose rings and rings which serve both as an investment along with being an accessory. Gold statues of gods and goddesses are also popular in Jharkhand, with their demand peaking during festivals and religious processions during Akshaya Tritiya and Chhath Puja festivities. Gold in banks are slightly more expensive. But then again you have the advantage of gold that is certified and checked and you can be assured about the purity. If you are planning to build wealth through buying physical gold, perhaps buying hallmark gold from the bank is a better idea.
Market Trade: In this state one can purchase gold through the markets, with gold being traded in the National Multi Commodity Exchange, National Commodity and Derivatives Exchange and the Multi Commodity Exchange. This is apt for individuals willing to purchase gold in bulk, with the minimum trading limit being set at 1 kg in general. It is simply a viable option for people who are well aware of the gold market and all that affects it.
Also Check Gold Prices in the Cities of Jharkhand
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