Gold Rate In Jharkhand

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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 October 2019 to December 2019 (per gram of 24 karat gold)

Quarterly Gold Rate in Jharkhand from October 2019 to December 2019:

• The prices of gold fluctuated throughout the month of October in Jharkhand due to the uncertainty in the trade talks between China and the US. Overall, the prices of gold saw an incline of 1.72% in Jharkhand in October. Gold rates in Jharkhand opened at Rs.3,889 on 1 October 2019 and closed at Rs.3,956 on 31 October 2019. The highest rate of gold in October was at Rs.3,989 per gram.
• Gold rates saw an overall decline of 1.61% in Jharkhand for the month of November. Investors moved towards the stock market after no rate cuts were made by the US Federal Reserve. Initially, the prices of gold increased and touched Rs.4,006 for a gram. However, the prices of gold gradually decreased towards the end of the month. The highest and lowest prices of gold in Jharkhand for the month of November were Rs.4,006 per gram and Rs.3,908 per gram, respectively.
• The impeachment of the US President and the trade talk concerns ensured that the prices of gold increased in the month of December in Jharkhand. Overall, gold rates saw an incline of 2.00% in Jharkhand in December. The lowest and highest prices of gold in Jharkhand were at Rs.3,884 per gram and Rs.4,031 per gram, respectively.

Gold Rate Trend in Jharkhand for July 2019 to September 2019 (per gram of 24 karat gold)

Gold Rate Trend in Jharkhand for April 2019 to June 2019 (per gram of 24 karat gold)

Gold Rate Trend in Jharkhand for January 2019 to March 2019 (per gram of 24 karat gold)

Gold Rate Trend in Jharkhand for January 2019:

• With the value of the dollar constantly fluctuating, the gold rate in Jharkhand increased steadily throughout the month after opening at Rs.3,282 per gram on 1 January. This was also the lowest price point of the metal for the month.
• The ongoing trade tensions between the China and U.S. reduced industrial imports of gold from Asia. However, strong local demand kept the value from declining.
• The dollar weakened while the equity market rose in value. As on 18 January, the price of gold stood at Rs.3,338 per gram. During this time, local and industrial demand for the metal too rose.
• The price of gold stood still for a few days while the dollar recovered in value after the government shutdown ended. However, at the end of the month on 31st January, the yellow metal stood at its highest point as it was trading at Rs.3,428 per gram. The overall percentage increment for the month was recorded at 4.44%.

Gold Rate Trend in Jharkhand for February 2019:

• Demand for the yellow metal rose spontaneously as conflicting overseas cues and a volatile U.S. dollar rate impacted local and industrial demand. The gold rate in Jharkhand on 1 February was Rs.3,431 per gram.
• Gold prices in Jharkhand rose briefly to Rs.3,455 per gram on 6 February as the dollar dropped on global economic slowdown fears but it bounced back as the yellow metal’s value fell to Rs.3,404 per gram on 14 February.
• Sluggish demand from Asia and rising insecurity over Brexit increased gold’s safe-haven appeal among investors as the metal rose to Rs.3,462 per gram on 19 February, as local demand remained static.
• Prices surged to Rs.3,497 per gram on 21 February on news of a resolution to the Sino-U.S. trade dispute but a more aggressive tone by the Federal Reserve boosted the dollar as gold fell to Rs.3,460 per gram on 28 February.

Gold rate trend in Jharkhand for March 2019:

• Gold rate in Jharkhand dipped in value at the beginning of the month as the value of the US dollar rose substantially. Uncharacteristically, stocks and equities too dipped in value at the same time. The price of gold on 1 March stood at Rs.3,435 per gram. This was also the highest value of the yellow metal for the month.
• The dollar then declined in value on the 7th in comparison to the Euro as the ECB pushed its decision to hike interest rates. This stunted the growth of the metal due to weak economic conditions.
• On 29 March, gold stood at one of its lowest points of the month when it was trading at Rs.3,313 per gram. This was influenced with the dollar increasing in value and weak economic conditions prevailed.
• A percentage decline of 4.10 was recorded for the month of March while it was trading at Rs.3,294 per gram. This was also the lowest price the metal stood at for the month.

Gold Rate Trend in Jharkhand for October 2018 to December 2018 (per gram of 24 karat gold)

Gold rate trend in Jharkhand in October 2018

• The price of gold opened at Rs.3,167 per gram on 1 October as the value of the dollar increased as a result of falling markets. The first half of the month was steady as the demand was low.
• As a result of the US-China trade war and the ongoing Brexit negotiations, gold trades were at an upward trend.
• In the second half of the month, the demand was higher among local jewellers due to the upcoming festivals in the country. Due to this, the import business of the metal thrived.
• Gold trade touched its highest price at Rs.3,303 per gram on 25 October, closing at Rs.3,292 per gram on 31 October with a percentage incline of 3.94.

Gold rate trend in Jharkhand in November 2018

• The month of November was not beneficial for investors as even though the global trend of the metal was steady, the value of gold decreased to a great extent in India.
• On 1 November, gold trade opened at Rs.3,292 per gram and was steady due to the festivities for Diwali and Dhanteras in the country. However, as the dollar recovered against other currencies, rupee took a hit, resulting in the decrease in the price of the metal.
• In the latter half of the month, with the depreciating value of the rupee, the demand amongst local jewellers also decreased considerably. This affected the import business of gold.
• On 30 November, gold trading closed at Rs.3,166 per gram which was the lowest in the month, recording a percentage decline of 3.82.

Gold rate trend in Jharkhand in December 2018

• In December, gold trade took a positive turn as the value of the rupee increased against the dollar due to the falling of the global markets.
• On 1 December, the price of gold was Rs.3,166 per gram increasing to Rs.3,264 per gram by the middle of the month.
• The US-China trade truce resulted in investors depending on the bullion as a safe-haven asset, thus increasing the global demand of the metal.
• In the second half of the month, there was an increase in the local demand amongst jewellers as it marked the start of the wedding season in the country. Due to this, gold trade reached its monthly high, priced at Rs.3,284 per gram with a percentage increase of 3.72.

Gold Rate Trend in Jharkhand for July 2018 to September 2018 (per gram of 24 karat gold)

Gold Rate Trend in Jharkhand for July 2018

• When trading opened for the month, gold rate in Jharkhand stood at Rs.3,124 per gram on the 1st with steady local demand from industries and jewellers.
• With the US dollar losing against other apex currencies, demand for the metal surged during the month and gold was recorded trading at Rs.3,140 per gram on the 7th.
• However, depreciation in the Indian rupee against the US dollar led to a drop in domestic demand over the next couple of week and the yellow metal was recorded trading at Rs.3,056 per gram on the 19th.
• Trading closed for the month with the precious metal priced at Rs.3,056 per gram on the 31st with subdued demand from local industries, jewellers and retailers amid the weak trend overseas.

Gold Rate Trend in Jharkhand for August 2018

• With the US dollar weighing on the bullion trade, the metal prices were greatly influenced by the fluctuating equities and rising US dollar index.
• The month began with gold in Jharkhand priced at Rs.3,050 per gram on the 1st with subdued industrial demand from the Asian continent.
• However, market speculations amid the US-China trade war concerns led to investors banking on equities and stocks during the month. Gold was recorded trading at its lowest at Rs.3,003 per gram on the 17th amid the weak trend overseas.
• However, demand picked up towards the end of the month with investors beginning to hedge on the bullion amid the long-term influence of the US-China trade war and gold was recorded trading at Rs.3,092 per gram on the 31st, registering a 1.37% incline in gold trade during the month

Gold Rate Trend in Jharkhand for September 2018

• The final month of the quarter commenced with gold trading at Rs.3,103 per gram with domestic investors capitalising on the previous month’s gains.
• Strong local demand from industries, jewellers and retailers despite the weak trends overseas led to gold prices surging during the month.
• Gold price in Jharkhand touched a monthly high of Rs.3,155 per gram on the 26th after Italy’s budgetary crisis and market fluctuations amid the Brexit negotiations led to an increased safe-haven demand for the precious metal.
• Trading concluded for the month with gold rates closing at Rs.3,140 per gram on the 30th with subdued but steady demand for the metal. Jharkhand registered a profit of 1.19% owing to strong market trends that pushed investor demand higher during the course of the month.

Trend of Gold Rate in Jharkhand for April 2018 to June 2018 (per gram of 24 karat gold)

Gold Rate Trend in Jharkhand for April 2018:

• Gold was priced at Rs.3,072 per gram when trading began in Jharkhand for the month of April.
• Gold rates dropped to a monthly low of Rs.3,064 per gram on the 6th as demand remained weak and the dollar seemed to rise.
• Demand was on the bullish side this month after the initial fall, as the joint force of the US and NATO decided to attack Syria over the bombing of its citizens.
• As a result, gold rates began to surge, while the dollar plummeted. On the 19th, gold was at its highest of Rs.3,153 per gram as demand surged consistently while the dollar failed to recover and gold demand remained on the rise.
• The month ended with gold prices holding at Rs.3,123 per gram - marking a 1.66% incline in prices.

Gold Rate Trend in Jharkhand for May 2018:

• When May’s trading began, gold was priced at Rs.3,114 per gram. Demand this month was slightly on the lower side after the dollar recovered from the previous month’s fall. This caused gold rates to drop after demand weakened.
• Gold was at its highest on the 15th when it traded at Rs.3,213 per gram and the lowest was recorded on the 3rd, when it sold at Rs.3,103 per gram.
• A slightly higher local demand helped offset the rise in the US dollar. Gold was seen trading at Rs.3,122 per gram on the final day of the month.
• There was a 0.25% change in price trends this month, brought about by a positive local demand amidst a rising dollar.

Gold Rate Trend in Jharkhand for June 2018:

• If the US dollar felt shackled by the local trend, it broke through all of it this month as there were plenty of positive cues supporting the dollar.
• When the month began, gold was priced at Rs.3,100 per gram, which fell considerably within the first week after the payroll data showed some positive numbers.
• There was a incline in gold prices mid-month as demand seemed to rise and the metal traded at Rs.3,127 per gram on the 15th.
• However, a fall in demand caused gold rates to drop to a monthly low of Rs.3,054 per gram on the 24th of June.
• When the month ended, gold prices were recorded at Rs.3,059 per gram. Price trends were subject to a 1.32% decline this month due to a buoyant dollar and resurgent markets.

Gold Rate Trend in Jharkhand for January 2018 to March 2018 (per gram of 24 karat gold)

Gold Rate Trend in Jharkhand for January 2018:

• When gold trading began in the central Indian state of India - Jharkhand - for January, gold was priced at Rs.3,090 per gram.
• Like in the rest of India, gold trading was on the weaker side during the first week, owing to poor cues.
• The low demand caused gold rates to drop to a monthly low figure on the 5th, when the metal traded at Rs.3,088 per gram.
• Demand picked up as days passed and gold rates surged as a result of this. The US dollar plummeted towards the final week and safe haven demand went up.
• On the 25th, gold rates in Jharkhand went up to Rs.3,175 per gram - the month’s highest rates, thanks to increased buying.
• Demand declined as days passed, and gold rate in Jharkhand went down towards the final few days of this month.
• On the final day of January, gold was priced at Rs.3,127 per gram.

Gold Rate Trend in Jharkhand for February 2018:

• Overnight trading cues helped gold price in Jharkhand rise to Rs.3,146 per gram - Rs.19 increase from January’s last day.
• Gold rate in Jharkhand were on the decline during the first two weeks and they dropped to monthly low levels on the 11th to Rs.3,105 per gram.
• Due to steady but low demand, gold rates continued to trade at Rs.3,105 per gram over the next two days.
• As demand went up, the precious metal’s rates went up to Rs.3,191 per gram on the 18th and 19th of February due to strong demand.
• The final day of this month saw prices dropped to Rs.3,163 per gram because demand consolidated.
• Gold price trends went up to Rs.0.54%, thanks to the wedding demand seen during the second and third week.

Gold Rate Trend in Jharkhand for March 2018:

• Gold price in Jharkhand had dropped to Rs.3,143 per gram when March’s trading started on the 1st.
• This month’s trading was on the steadier side, with no change changes being recorded during the first three weeks of trading.
• However, on the 18th, rates in Jharkhand went down to Rs.3,132 per gram - the month’s lowest rates - before continuing at this rate on the next day as well.
• The US dollar fell after the President Donald Trump nearly sparked a trade war with China. This also led to markets crashing and gold rates surged owing to this.
• During the 25th and 26th, the yellow metal traded at Rs.3,198 per gram - the month’s highest rates as investors capitalised on the falling dollar.
• The month ended with gold closed at Rs.3,169 per gram as demand dropped over the last few days.
• A 0..82% change in gold rates were recorded this month, thanks to the rise in demand brought about by Donald Trump’s statements.

Gold Rate Trend in Jharkhand for October 2017 to December 2017 (per gram of 24 karat gold)

Gold Rate Trend in Jharkhand for October 2017:

• Gold prices in Jharkhand fell for the month of October, but the extent of the fall was relatively lower compared to other states in the country.
• When the month began, the precious 24K metal was priced at Rs.3,109 per gram. As the days progressed, prices seemed to fluctuate quite a bit and rates hit a monthly high figure of Rs.3,138 per gram on the 12th of October.
• Due to steady demand, gold prices continued at this rate till the 17th of the month.
• However, towards the last two weeks, gold rate in Jharkhand saw a considerable decline due to unusually poor demand from jewellers, particularly during the festive season.
• Gold was at its lowest point for the month from the 27th to the 29th when it traded at Rs.3,079 per gram.
• Overall, there was a 0.57% decline in prices, owing to low demand during the festive season, which fell around the final few days of the month.

Gold Rate Trend in Jharkhand for November 2017:

• Gold prices for November began with the metal trading at Rs.3,071 per gram and improved over the subsequent days.
• The highs, however, came just after the lows which occurred on the 18th when the metal traded at Rs.3,035 per gram.
• Gold traded at its highest for the month on the 20th, 25th and the 26th when the prices were recorded at Rs.3,123 per gram.
• Rates fell over the remaining few days and consolidated to end the month at Rs.3,085 per gram - a 0.45% incline from the month’s starting point.

Gold Rate Trend in Jharkhand for December 2017:

• Gold rate in Jharkhand had fallen further when the month of December began with the metal being priced at Rs.3,074 per gram.
• Most of the month’s pricing was affected by the new tax structure introduced by US president Donald Trump, which brought about a brief rise in dollar rates after weeks of underperformance.
• The dollar, however, hit lows after a point which cause gold demand to increase as days passed.
• The lowest price this month was recorded on the 13th when it traded at Rs.3,001 per gram, while the highest price was recorded over the final two days of the month - Rs.3,098 per gram.
• A late flourish contributed to a gold price trends rising by 0.78% this month.

Gold Rate Trend in Jharkhand for July 2017 to September 2017 (per gram of 24 karat gold)

Gold rate trend in Jharkhand for July 2017

• Gold was priced at Rs.3,011 per gram when trading commenced for the month of July.
• Thanks to a strong domestic demand from local jewellers, retailers and industries, gold rate in Jharkhand surged to Rs.3,044 per gram - the highest recorded monthly figure - on the 3rd.
• However, the newly approved 3% Goods and Services Tax proved to be unfavourable for the bullion industry. This led to a decline in domestic demand and prices plummeted to Rs.2,903 per gram on the 14th. This was also the lowest recorded monthly figure in Jharkhand.
• However, safe-haven demand picked up with diplomatic relations deteriorating between the US and North Korea. This resulted in the yellow metal prices rising to Rs.3,002 per gram on the 22nd.
• The month ended with the precious metal being priced at Rs.3,001 per gram, registering a decline of 0.33% in gold rates during the month.

Gold rate trend in Jharkhand for August 2017

• Gold rates in Jharkhand improved significantly with the bullion industry recovering from the impact of GST in July.
• The yellow metal opened at Rs.3,005 per gram on the 1st.
• The continued aggression between the US and North Korea over the next couple of weeks resulted in an increased demand for safe-haven assets like gold. This led to rates surging to Rs.3,072 per gram on the 17th. This was also the highest recorded figure during the month.
• Prices remained high for much of the month owing to the strong trend overseas.
• When trading concluded for the month, the precious metal was priced at Rs.3,041 per gram registering a profit of 1.19% owing to strong global and domestic trends.

Gold rate trend in Jharkhand for September 2017

• Strong global cues coupled with the arrival of the festive season led to gold rates surging in Jharkhand.
• When the month began, the precious metal was trading at Rs.3,041 per gram.
• Gold rate in Jharkhand surged to Rs.3,185 per gram on the 8th as demand for safe-haven assets skyrocketed after North Korea announced their successful nuclear test.
• Prices, however, dropped over the next few days with the US economy recovering from the initial shock. Gold was trading at Rs.3,111 per gram on the 23rd.
• Domestic demand spurred with the arrival of Dussehra pushing local sales higher. This led to the precious metal being priced at Rs.3,105 per gram on the 26th.
• Gold was priced at Rs.3,109 per gram on the last day registering an incline of 2.23% in prices during the month.

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

Gold Rate Trend in Jharkhand for April 2017

• Gold opened at Rs.3,011 per gram in Jharkhand and continued to remain the same 03rd of April.
• Gold prices slightly picked up and traded at Rs.3,034 per gram on 04th April 2017.
• Gold prices quickly began to fall and recorded the lowest rate for the month of 10th April when the yellow metal traded at Rs.3,005 per gram.
• The reason for gold prices to fall maybe due to weak demand from the local market and steady U.S dollar.
• Demand rose as poor U.S. jobs data results coupled with fresh allegations of the Trump campaign’s collusion with Russia caused markets to fall, resulting in gold rising to Rs.3,065 per gram on 14 April.
• Prices continued to increase as demand from the domestic market and jewellers picked up and gold hit Rs.3,096 per gram which is the highest rate recorded for this month on 17 April, 22 April, and 23 April.
• However, demand fell towards the end of the month as gold traded at Rs.3,021 per gram on 30 April.
• Overall, in the month of April 2017, gold price trends saw an increase of 0.66% for the month.

Gold Rate Trend in Jharkhand for May 2017

• Gold traded at Rs.3,021 per gram on the 01st of May.
• Gold prices saw a decrease of 0.19% for the month of May mainly due to the impending French Presidential elections.
• On 08th and 09th of May, gold prices continued to decline and traded at Rs.2,943 and Rs.2,948 per gram, respectively.
• Prices continued to fall, trading at Rs.2,937 per gram from 11-15 May as industrial orders slowed due to a high U.S. dollar rate.
• The second half of the month of May witnessed increase in gold prices due to the U.S presidential elections.
• Gold prices continued to increase as demand picked up in the local gold spots and the yellow metal traded at Rs.3,034 per gram on 30 May which is the highest rate for this month.
• Unsteady dollar rate due to the geopolitical crises and the attack in Manchester helped gold rates remain stable in Jharkhand during the last few days of the month of May.
• Gold closed at Rs.3,034 per gram on 30 May.

Gold Rate Trend in Jharkhand for June 2017

• A slight decrease in gold rate was seen on the first day of the month of June when gold traded at Rs.3,030 per gram.
• However demand from local market picked up and helped gold rates increase the next few days.
• Gold traded at Rs.3,048 per gram from the 03rd to 05th of June before settling at Rs.3,063 per gram on 06th of June.
• Gold captured the centre stage and recorded the highest gold rate of the month on 7th of June when it traded at Rs.3,080 per gram.
• The increase in gold price was mainly due to week trend overseas, political condition in the U.S, and unsteady U.S dollar.
• Overall, in the month of June 2017, gold price trends saw a decrease of 0.62% for the month.
• Gold prices drifted and closed at Rs.3,030 per gram.

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

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)

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)

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)

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.

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 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

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?