Gold Rate In Jodhpur

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Jodhpur is a historical city popular among tourists. It is the second-largest in Rajasthan, with a population of more than 1 million. The city is lined with palaces and forts built by the various kings who ruled the land. Jodhpur was founded by Rao Jodha, a Rajput Rathore king who established the kingdom of Marwar in the region.

The popular tourist spots in Jodhpur include: the Mehrangarh Fort, the Jaswant Thada, and the Umaid Bhawan Palace. Several colourful fairs surrounding religious festivals are held in Jodhpur that attract large domestic and foreign tourists. The primary economic activities in Jodhpur are handicrafts, furniture and sporting goods manufacture and textile industry. Gypsum and salt are the key minerals products mined in the Jodhpur region.

Gold prices in Jodhpur

There are only 3 gold fields in India – Hutti and Uti in Karnataka, and Hirabuddini mines in Jharkand. Therefore, much of the gold used in India is imported. Because of this, gold prices follow the international trends. Prices also shoot up during the wedding season because of high demand and limited supply.

Most of the gold bought over the counter in India is in the form of 24-karat gold coins/bars (this is mainly for investment purposes), and jewellery made of 22-karat, 20-karat, 18-karat or 14-karat gold. Of these, 22-karat is the most popular and its prices can be easily tracked. Pure gold is not strong enough to be moulded into ornaments and hence is mixed with silver, copper or nickel.

24-karat gold price: 24-karat gold is the purest form of gold, with a purity of 99.99%. If you wish to buy 10 gram of 24-karat gold in Jodhpur, you will have to pay Rs. 29,690 as on March 11, 2016. This is Rs. 180 higher than the price of gold a week ago. Compared to the price of Rs. 30,374 in the national capital of Delhi, this is Rs. 684 lower.

22-karat gold price: Jewellery is usually made with 22-karat gold, with a purity of 91.6%. The rates of 22-karat gold are lower than that of 24-karat gold because of the decreased purity. If you want to buy 22-karat gold in Jodhpur, you have to shell out Rs. 27,750 for 10 grams (as on March 11). Prices have increased only slightly – around Rs. 200 – over the last 7 days. In Delhi, he price is Rs. 28,400, lower by Rs. 650.

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

Factor	January	February	March
1st day	Rs.2,893 per gram	Rs.3,035 per gram	Rs.3,080 per gram
Last day	Rs.3,017 per gram	Rs.3,095 per gram	Rs.3,029 per gram
Highest price	Rss.3,060 per gram on 23rd and 24th of January	Rs.3,101 per gram from 25th-27th February	Rs.3,080 per gram on 1st and 2nd March
Lowest price	Rs.2,841 per gram on 10th and 11th of January	Rs.3,034 per gram on 1st & 2nd February	Rs.2,974 per gram from 15th to 17th of March
Trend	Rise	Incline	Decline
Change	+4.28%	+1.97%	1.65%

Gold Rate Trend in Jodhpur for January 2017:

• Gold opened the trading for the month of January at Rs.2,893 per gram on January 1st.
• Technical adjustments saw gold prices slip to Rs.2,888 per gram between January 3rd and January 5th.
• A weakened US Dollar saw gold prices rise to Rs.2,937 per gram between January 7th and January 8th to close the first week of trading.
• Gold opened the second week of trading at a stable Rs.2,937 per gram on January 9th.
• A stronger US Dollar saw gold prices drop to Rs.2,841 per gram between January 10th and January 11th.
• Prevailing low prices resulted in technical buying from investors, allowing gold to recover to Rs.2,990 per gram between January 12th and January 15th to close the second week of trading.
• Technical corrections saw gold open the third week of trading at Rs.3,023 per gram on January 16th.
• A marginal increase in domestic demand saw gold prices climb to Rs.3,034 per gram between January 17th and January 20th.
• Technical corrections saw gold prices drop by Rs.10 to Rs.3,024 per gram between January 21st and January 22nd to close the third week of trading.
• An uncertain environment surrounding the US monetary policy saw gold open the fourth week of trading at Rs.3,060 per gram on January 23rd.
• A strengthened US Dollar saw a drop in gold prices to Rs.3,029 per gram between January 26th and January 29th.
• Technical trading saw gold prices drop further to Rs.3,017 between January 30th and January 31st to close the trading for the month of January.

Gold Rate Trend in Jodhpur for February 2017:

• Gold opened trading for the month of February at Rs.3,035 per gram on February 1st.
• Marginal fluctuations saw gold prices at Rs.3,034 per gram between February 4th and February 5th to close the first week of trading.
• Gold opened the second week of trading at Rs.3,044 per gram on February 6th.
• Weak US economic data saw gold prices rise to Rs.3,075 between February 7th and February 9th.
• A drop in domestic demand for gold saw the price of the precious metal slip to Rs.3,048 per gram on February 12th to close the second week of trading.
• Gold opened the third week of trading at Rs.3,044 per gram between February 13th and February 15th.
• Increase in domestic demand saw gold prices climb to Rs.3,070 per gram between February 17th and February 19th.
• Gold opened the fourth week of trading at a stable Rs.3,070 per gram between February 20th and February 24th.
• Safe-haven investing on account of uncertain US economic data saw gold prices rise to Rs.3,101 per gram between February 25th and February 27th.
• Technical corrections saw gold close trading for the month of February at Rs.3,095 per gram on February 28th.

Gold Rate Trend in Jodhpur for March 2017:

• Gold opened trading for the month of March at Rs.3,080 per gram on March 1st.
• A drop in domestic demand saw gold prices slip to Rs.3,056 per gram between March 3rd and March 5th to close the first week of trading.
• Gold opened the second week of trading at a stable Rs.3,056 per gram between March 6th and March 7th.
• Technical corrections saw gold prices slip to Rs.3,044 between March 9th and March 10th.
• Marginal drop in demand for gold saw gold prices slip to Rs.3,023 per gram between March 11th and March 12th.
• Gold opened the third week of trading at a stable Rs.3,023 per gram between March 13th and March 14th.
• A strong US Dollar and dip in global demand for gold saw gold prices plummet to Rs.2,974 per gram between March 15th and March 17th.
• Prevailing low prices saw technical buying from investors, allowing gold to recover to Rs.3,023 between March 18th and March 19th to close the third week of trading.
• Minor technical corrections saw gold open the fourth week of trading at Rs.3,028 per gram on March 20th.
• The failure of a new healthcare bill proposed by President Donald Trump saw Gold climb to Rs.3,060 per gram on March 22nd.
• Technical corrections on account of prevailing prices saw gold trade at Rs.3,050 per gram between March 23rd and March 26th to close the trading for the fourth week.
• Gold opened the final week of trading at Rs.3,065 per gram on March 27th.
• A drop in domestic demand saw gold prices slip to Rs.3,049 per gram on March 30th.
• Technical corrections on account of prevailing prices saw gold close trading for the month of March at Rs.3,029 per gram on March 31st.

Gold Rate Trend in Jodhpur for October 2016 to December 2016 (per gram of 24 karat gold)

Factor	October	November	December
1st day	Rs.3,304 per gram	Rs.3,199 per gram	Rs.2,963 per gram
Last day	Rs.3,199 per gram	Rs.3,012 per gram	Rs.2,893 per gram
Highest price	Rs.3,304 per gram on 1st October	Rs.3,252 per gram from 3rd-6th November	Rs.2,963 per gram on 1st & 2nd December
Lowest price	Rs.3,157 per gram from 7th-13th October	Rs.3,003 per gram on 27th November	Rs.2,800 per gram from 23rd-28th December
Trend	Decline	Decline	Decline
Change	-3.17%	-5.81%	-2.36%

Gold Rate Trend for Jodhpur in October 2016

• Gold prices for the month of October declined overall as demand began to drop towards the end of the month.
• Gold was priced at Rs.3,304 per gram on 1st October but fell to Rs.3,273 per gram on 2nd October due to a drop in industrial demand.
• Prices fluctuated due to market conditions but the trend veered towards a decline in demand.
• The U.S. Dollar performed well on news of a Fed rate hike, which also led to markets recovering, resulting in a drop in demand for gold.
• Prices rose marginally towards the middle of the month as retail demand picked up, though overseas trends continued to point to a decline in demand.
• Gold ended the month trading at Rs.3,199 per gram, registering a loss of 3.17%.

Gold Rate Trend for Jodhpur in November 2016

• Gold prices spiked in the first week of November due to increased demand wing to market instability, but prices dipped for the rest of the month as demand dropped.
• Gold traded at Rs.3,199 per gram on 1st November and rose to Rs.3,252 per gram on 3rd November as market indices fell as the U.S. elections drew near.
• The surprise victory of Donald Trump in the U.S. presidential election and the announcement of the demonetisation of Rs.1,000 and Rs.500 notes led to chaos on the bourses, increasing demand for gold.
• Prices dropped as markets stabilised, with industrial demand falling due to reduced demand from Asian markets.
• The cash shortage led to a drop in retail demand in India, which led to reduced demand from jewellers during the peak season.
• Gold prices continued to drop during the month, trading at Rs.3,012 per gram on 30th November, recording an overall loss of 5.81%.

Gold Rate Trend for Jodhpur in December 2016

• Prices were low for the month of December due to decreased demand from industry and lower than expected demand from the local retail market.
• Gold traded at Rs.2,963 per gram on 1st December as markets continued to rally on positive consumer data.
• The festive season led to increased consumer spending, which boosted markets and led to a drop in demand for safe haven assets like gold.
• Prices fell to a low of Rs.2,800 per gram on 23rd December as both industrial and retail markets saw a reduction in demand.
• Gold recovered as the month ended, trading at Rs.2,893 per gram on 31st December to record a loss of 2.36%.

Gold Rate Trend in Jodhpur for July 2016 to September 2016 (per gram of 24 karat gold)

Factor	July	August	September
1st day	Rs.3,224 per gram	Rs.3,247 per gram	Rs.3,245 per gram
Last day	Rs.3,244 per gram	Rs.3,245 per gram	Rs.3,304 per gram
Highest price	Rs.3,287 per gram on 7th and 8th July	Rs.3,287 per gram from 23rd-26th August	Rs.3,304 per gram from 27th-30th September
Lowest price	Rs.3,207 per gram on 15th July	Rs.3,236 per gram from 8th-14th August	Rs.3,245 per gram on 1st and 2nd September
Trend	Increase in price	Decrease in price	Increase in price
Change	+0.62% increase	-0.06% decrease	+1.81% increase

Gold Rate Trend in Jodhpur for July 2016

• The first week of July saw the price of gold stay more or less stable at Rs.3,224 per gram.
• The second week saw gold prices increase on the back of strong demand domestically and a weaker market.
• Prices fell slightly as the markets recovered and demand for bullion fell internationally.
• Stagnant demand led to prices remaining constant for the next week at Rs.3,218 per gram.
• A steady increase in the price due to demand from jewellers domestically led to gold trading at Rs.3,244 per gram.

Gold Rate Trend in Jodhpur for August 2016

• Prices in August were stable as the week began, trading at Rs.3,247 per gram with small gains seen.
• The second week saw prices appreciate slightly as market uncertainty and a fluctuating Dollar drove bullion demand.
• Prices began to slip as the third week began due to strong data from emerging markets but prices recovered towards the end of the week.
• Gold prices rose to their monthly high of Rs.3,290 per gram on the back of fears of a slowdown in Asian markets, leading to demand for gold rising.
• After the initial surge, prices dropped sharply, closing at Rs.3,245 per gram for an overall decrease in price.

Gold Rate Trend in Jodhpur for September 2016

• Gold traded at Rs.3,245 per gram with marginal increases in the first week of September, continuing the previous month’s demand trend.
• The second week saw a sharp increase, with gold trading at Rs.3,291 per gram as demand increased due to the upcoming festive season.
• Prices were stable with slight dips due to fluctuating demand from jewellers and weak international cues.
• Stagnant demand led to prices stabilising at Rs.3,277 per gram before picking up to close at Rs.3,304 per gram. 

Gold Rate Trend in Jodhpur for April 2016 to June 2016 (per gram of 24 karat gold)

Factor	April	May	June
1st day	Rs. 2,988 per gram	Rs. 3,147 per gram	Rs.2,934 per gram
Last day	Rs. 3,147 per gram	Rs. 2,991 per gram	Rs.3,209 per gram
Highest price	Rs. 3,147 per gram on 29th and 30th of April	Rs. 3,169 per gram on 2nd and 3rd of May	Rs.3,212 per gram on 25th June
Lowest price	Rs. 2,957 per gram on 4th April	Rs. 2,991 per gram on the 30th and 31st of May	Rs.2,991 per gram on 1st June
Trend	Rising	Decline	Rise
Change	+ 5.32%	-4.95%	+9.37%

Gold Rate Trend of Jodhpur in April 2016

• In April, gold traded at Rs. 2,988 and remained unchanged till April 3rd.
• The rates then declined on April 4th Rs. 2,957, the lowest for the month.
• Gold prices continued to rise through the month of April but did see a few minor falls.

Gold Rate Trend of Jodhpur in May 2016

• Gold traded at Rs. 3,147 per gram at the start of the month.
• Initially, there was a trend of inclination but that soon changed to a downward trend.
• The month of May ended at Rs. 2,991, which was the lowest price recorded for the month.

Gold Rate Trend of Jodhpur in June 2016

• Post Brexit polls, economic uncertainty throughout the world resulted in a sudden increase in the price of gold.
• Investors rushed to purchase this precious metal as a result of Brexit.
• There was a steady increase noted in the price of gold with few fluctuations seen throughout the month.
• The highest rate at which gold traded at was Rs. 3,209 per gram on the 25th of June.
• A rise of was seen in the price of gold at the end of the month with the lowest price of gold being Rs.2,991 per gram on 1st June.

Gold investment in Jodhpur

Indians do not always buy gold as an investment. The yellow metal transcends the boundaries of monetary profits because of the socio-cultural and religious significance attached to it. Gold is auspicious to Indians for weddings and other personal occasions, as well as during festivals and religious ceremonies. The amount of gold a family owns signifies its wealth as well as social status. The savings of a family are stored in gold. But this does not mean that gold is never purchased as an investment. Indians pledge their jewellery whenever the need arises, and some even sell them. Let us look at the main investment options exercised in Jodhpur:

Physical gold: Gold jewellery and gift articles sold in large showrooms and small outlets form the bulk of gold sales in Jodhpur. Keen buyers will purchase gold when the rates are low. However, during the wedding season, price is no bar for gold shopping. Gold bullions and coins are also bought and sold as an investment avenue. Banks and other financial institutions offer high-purity gold coins and bars. But sometimes buyers prefer local gold shops for this as the prices would be lower, though the purity might not be guaranteed.

Market trade: Trade of paper and virtual gold is not very popular in Jodhpur. Those who like to experiment go for Gold Exchange Traded Funds (ETFs), e-gold, Sovereign Gold Bonds, and other similar schemes. The Gold Monetisation Scheme introduced a year ago by the Central Government has not yet picked up pace. An ETF is the safest option as it provides healthy returns and can be traded easily on the stock exchange. Investors and speculators interested in a safe haven can go for gold futures contracts. E-Gold can be traded on the National Spot Exchange and buyers can either physically own their purchase or reinvest it.