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Gold Rate 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 January 2017 to March 2017 (per gram of 24 karat gold)
|1st day||Rs.2,843 per gram||Rs.2,989 per gram||Rs.3,030 per gram|
|Last day||Rs.2,989 per gram||Rs.3,008 per gram||Rs.2,987 per gram|
|Highest price||Rs.3,014 per gram on the 24th of January||Rs.3,010 per gram from the 20th of February to the 22nd of February||Rs.3,030 per gram on the 1st and 27th of March|
|Lowest price||Rs.2,838 per gram on the 2nd of January||Rs.2,977 per gram on the 2nd of February||Rs.2,945 per gram on the 15th of March|
Gold Rate Trend in Jharkhand for January 2017:
- The highlight of January in Jharkhand was that gold prices kept rising for most of the month due to burgeoning demand.
- On 1st January, gold was priced at Rs.2,843 per gram and kept increasing as days progressed.
- The 2nd, however, saw an uncharacteristic drop in prices due to some corrections as they went down to Rs.2,938 per gram.
- But from the 3rd, gold prices were largely on the increase as there was a sustained demand from traders.
- Gold rates reached their highest on 24th as they hit Rs.3,014 per gram as concerns over US monetary policy loomed large.
- At the end of the month, though, gold prices underwent some correction to close at Rs.2,989 per gram - a Rs.146 increase from the first day’s prices.
- Gold rate trends changed by 5.13% as there was enough cash in the system after the economy broke away from the clutches of demonetisation.
Gold Rate Trend in Jharkhand for February 2017:
- In February, the highlight was the US Federal Reserve rate hike, which caused gold rates to slip during the later half of the month.
- On the 1st, gold was priced at Rs.2,989 per gram, which went down to Rs.2,977 per gram on the 2nd.
- As demand seemed to fluctuate, gold prices changed as well over the next few days.
- Rates kept changing on a daily basis as fed rate hike prompted investors to back away from gold.
- February lost all the positive momentum brought about by the previous month as gold prices ended at Rs.3,008 per gram on 28th.
- The month saw price trend dip to 0.63% - a decrease of 4.5% compared to the previous month.
Gold Rate Trend in Jharkhand for March 2017:
- In March, the US Federal Reserve increased the interest rate for a record second time in two months.
- The Federal Reserve has increase the rates on two occasions over a period of 7 years earlier.
- As interest was hiked, gold prices took a hit, leading to a fall in demand.
- On 1st March, gold was trading at Rs.3,030 per gram and hit its lowest point on 15th, when the metal was trading at Rs.2,945 per gram.
- There were several other changes in rates over the month as demand didn’t show any signs of picking up.
- Prices, however, rallied to end the month at Rs.2,987 per gram.
Gold Rate Trend in Jharkhand from October 2016 to December 2016 (per gram of 24 karat gold)
|1st Day||Rs.3,244 per gram||Rs.3,130 per gram||Rs.2,884 per gram|
|Last Day||Rs.3,130 per gram||Rs.2,926 per gram||Rs.2,843 per gram|
|Highest Price||Rs.3,244 per gram from 1st-11th October||Rs.3,190 per gram on 3rd & 4th November||Rs.2,963 per gram on 1st & 2nd December|
|Lowest Price||Rs.3,100 per gram on 18th October||Rs.2,919 per gram on 27th November||Rs.2,749 per gram from 24th-26th December|
Gold Rate Trend for Bihar in October 2016
- Gold prices in Jharkhand remained steady as October began thanks to the increase in industrial demand.
- On 1st gold was trading at Rs.3,244 per gram, and remained there till the 11th as international demand didn’t change by much.
- Prices witnessed a dip from 12th October onwards as stock markets began to pick up from their occasional slump.
- The month ended with gold trading at Rs.3,130 per gram - a Rs.114 per gram less compared to the rates from the start of the month.
- Jharkhand saw gold rates decline by 3.51% for the month of October.
Gold Rate Trend for Bihar in November 2016
- The first two weeks of November played host of one of the best gold rate trends over the course of the year.
- However, with cash shortage looming large, demand for the yellow metal slowly began to decrease over the next 3 weeks or so.
- The month began with gold trading at Rs.3,130 per gram and increased gradually as uncertainty rose due to the US Presidential Election Results.
- As demonetisation was increased, prices went up a little more as people began investing in gold as a safe bet.
- By the 9th, prices went up to as much as Rs.3,152 per gram but began to fall from then on.
- Gold prices seemed to recover marginally as the metal was trading at Rs.2,926 per gram on 30th November.
- Overall, Jharkhand saw one of the worst change in gold rate trends, which stood at -6.51 for the month of November.
Gold Rate Trend for Bihar in December 2016
- December saw gold prices continue on a low as demands didn’t see much of an increase, owing to the lack of cash in the system.
- The month began with gold trading at Rs.2,884 per gram and went down to Rs.2,852 per gram by the 9th.
- As dollar strengthened, gold price began to fall as it went down to Rs.2,808 per gram on 15th.
- Gold rates continued on its downward path as they hit the lowest for the month at Rs.2,749 per gram.
- Thanks to new year approaching, gold prices seemed to pick up slightly over the last three days of 2016.
- The month ended with gold trading at Rs.2,843 per gram.
- Overall, gold price trends saw a change of -1.42% for the month of December.
Gold Rate Trend in Jharkhand for July 2016 to September 2016 (per gram of 24 karat gold)
|1st day||Rs.3,252 per gram||Rs.3,271 per gram||Rs.3,218 per gram|
|Last day||Rs.3,292 per gram||Rs.3,237 per gram||Rs.3,244 per gram|
|Highest price||Rs.3,305 per gram on 7th July||Rs.3,287 per gram from 5th to 7th August||Rs.3,244 per gram from 7th to 30th September|
|Lowest price||Rs.3,218 per gram from 27th to 29th July||Rs.3,232 per gram on 9th August||Rs.3,200 per gram on 5th and 6th September|
|Trend||Increase in price||Decrease in price||Increase in price|
|Change||+1.23% increase||-1.03% decrease||+0.80% increase|
Gold Rate Trend for Jharkhand in July 2016
- Gold traded at Rs.3,252 per gram on 1st July.
- With the dust from the Brexit vote settling down, the market stabilised and demand for gold picked up.
- The highest price for this month was witnessed on 7th July with gold trading at Rs.3,305 per gram.
- There were fluctuations in gold rates and prices fell to their lowest from 27th to 29th July with gold trading at Rs.3,218 per gram.
- Overall, there was an increasing trend of 1.23% this month.
Gold Rate Trend for Jharkhand in August 2016
- Gold continued to trade at high prices at the start of the month as demand was steadily flowing into the market.
- Trends soon changed as expectations of a Fed rate hike grew strong.
- On the domestic front, demand was stagnant although it was expected that demand would pick up in light of the upcoming festive season.
- Gold traded at Rs.3,271 per gram on 1st August and by the end of the month, gold prices had reached Rs.3,237 per gram.
- This indicated a decline in gold rates by 1.03%.
Gold Rate Trend for Jharkhand in September 2016
- At the start of the month, gold rates were falling as trends in the market were not in favour of gold.
- Gold traded at Rs.3,218 per gram during the first week of September.
- The U.S. Federal Reserve put the interest rate hike on hold as the presidential elections were fast approaching.
- Demand for gold was steady and prices remained constant at Rs.3,244 per gram from 7th to 30th September.
- The trend for this month was an increase of 0.80% in gold rates.
Gold Rate Trend in Jharkhand for April 2016 to June 2016 (per gram of 24 karat gold)
|1st day||Rs.3,018 per gram||Rs.3,018 per gram||Rs.3,015 per gram|
|Last day||Rs.3,018 per gram||Rs.3,003 per gram on 31st of May||Rs.3,221 per gram on 30th of June|
|Highest price||Rs.3,018 per gram||Rs.3,157 per gram from 7th to 11th May||Rs.3,266 per gram on the 27th of June|
|Lowest price||Rs.3,018 per gram||Rs.3,003 per gram on the 31st of May||Rs.3,002 per gram on the 2nd of June|
Gold Rate Trend of Jharkhand in April 2016
- Gold opened the month at Rs.3,018 per gram on the 1st of April.
- Gold hit its highest for the month at Rs.3,018 per gram on the last day.
Gold Rate Trend of Jharkhand in May 2016
- The gold price remained unchanged at Rs.3,018 per gram on the first day of May.
- Gold price increased to Rs.3,157 on the 7th of May and held steady till 11th before dropping again.
- The price declined to Rs.3,003 per gram on the 31st of May.
Gold Rate Trend of Jharkhand in June 2016
- Gold traded at Rs.3,015 per gram on the 1st of June.
- Gold hit its highest for the month on the 27th of June at Rs.3,266 per gram.
- Gold price increased over the next couple of weeks as gold traded at Rs.3,221 per gram on the 30th of June.
|1st day||Rs.2,587 per gram||Rs.2,769 per gram||Rs.3,090 per gram|
|Last day||Rs.2,692 per gram||Rs.3,067 per gram||Rs.3,018 per gram|
|Highest price||Rs.2,767 per gram on January 31st||Rs.3,092 per gram on 26th of February||Rs.3,090 per gram from March 1st to 18th|
|Lowest price||Rs.2,587 per gram on the 1st of January||Rs.2,769 per gram on 1st of February||Rs.3,016 per gram on 21st of March|
Gold Rate Trend of Jharkhand in January 2016
- Gold opened the year by trading at Rs.2,585 per gram on the 1st of January.
- Gold climbed higher by Rs.48 at Rs.2,633 per gram on 5th of January.
- Gold hit the highest rate for January on 31st at Rs.2,692 per gram.
Gold Rate Trend of Jharkhand in February 2016
- Gold price increased from the last month as it traded at Rs.2,769 per gram on 1st of February.
- Gold traded at Rs.2,997 per gram during the last week of the month on 22nd of February.
- Gold prices as it shot up to Rs.3,067 per gram on 26th of February as there was a steady incline in the prices.
Gold Rate Trend of Jharkhand in March 2016
- Gold managed to hold steady at Rs.3,090 on the 1st of March.
- Gold witnessed a steady downfall in the last two weeks of March and stood at Rs.3,018 per gram at the end of March.
Details of Gold Price in Jharkhand (22 Karat & 24 Karat) - Till December 2015
Price of 22K gold as of December 20, 2015 is Rs. 2440 or US$36.8 in Jharkhand. Price of 24K gold as of December 20, 2015 is Rs. 2609.63 or US$39.35 in Jharkhand. Gold rates in Jharkhand are affected by the exterior issues which include both global and national economic events. Gold rates fell in August, mainly due to the global sentiments being at the time being weak for the gold market. Finally, it rose again to a Rs. 2546 during the months that saw the gold requirement through festivities such as Diwali and Dhanteras. It has fallen recently due to the end of the wedding season. 24K gold was priced around Rs. 2693 around the festive season.
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 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
|Gold Rate In Jamshedpur||Gold Rate in Ranchi|
Read more on Gold
- Things To Remember Before Buying Gold Jewellery
- All That You Need To Know About The Gold Monetization Scheme
- How Do Fluctuations In The Gold Rate Affect The Indian Economy?
- Global Demand For Gold Driven By Indian Wedding Traditions
- What Do The Markings On Gold Mean?
News About Jharkhand Gold Rate
Jharkhand to auction two Gold Mines
Jharkhand is set to become India’s second state to auction gold mines for which tenders will be issued by April end or May. The state Government is contemplating on issuing notice inviting tenders (NITs) for Parasi block in Ranchi district and Pahardia block in West Singhbum region. Earlier this year, Jharkhand auctioned two limestone blocks on basis of prospecting lease cum mining lease (PM cum ML). The state Government already tried to auction the Pahardia block gold mine earlier this year for which three mining giants including Vedanta expressed interest but did not participate. After this failed auction, the Government has put the plans on abeyance and is now planning on inviting fresh bids. The NITs are close to being finalized and will most likely be announced in last week of April or first week of May. The Parasi block is estimated to have a gold reserve of about 7.47 million tonnes at the rate of 0.5 grams per tonne and Pahardia block has an approximate reserve of about 1.16 million tonnes at the rate of 2.12 grams per tonne.
However, if this tender and auction will have any effect on gold prices in India is yet to be studied.
26th April 2016
Wedding season demand causes gold prices to rise by Rs 180
With wedding season in full swing, the price of gold rose by Rs 180 to close at Rs 29,430 per ten grams on Saturday on the back of jewellers and customers showing an increased demand for the precious metal. Not to be outdone, silver prices also climbed by Rs 50 to close at Rs 38,700 per kg on the back of rising demand from coin makers as well as industrial units. This trend was also felt globally as gold rose by 0.7 per cent to close at $1,234.60 per ounce in New York due to the release of weak U.S economic data.
18th April 2016
- For more related news /update on gold price visit: Gold News