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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 April 2016 to June 2016 (per gram of 24 karat gold)
|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|
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 Rate Trend in Jodhpur for January 2016 to March 2016 (per gram of 24 karat gold)
|1st day||Rs. 2,605 per gram||Rs. 2,781 per gram||Rs. 3,067 per gram|
|Last day||Rs. 2,781 per gram||Rs. 3,067 per gram||Rs. 2,988 per gram|
|Highest price||Rs. 2,788 per gram on January 28th||Rs. 3,067 per gram on February 27th to 29th||Rs. 3,090 per gram on March 2nd to 19th|
|Lowest price||Rs. 2,605 per gram from January 1st to 3rd||Rs. 2,956 per gram on February 17thst||Rs. 2,991 per gram on March 20th to 22nd|
|Change||+ 0.03%||+ 10.28%||- 2.57%|
Gold Rate Trend of Jodhpur in January 2016
- Gold traded at Rs. 2,605 at the start of January 2016.
- Prices were seen rising and falling every few days through the month.
- A slight incline was witnessed on Jan 30th with gold rates at Rs. 2,781.
Gold Rate Trend of Jodhpur in February 2016
- Gold prices started at Rs. 2,781 for February. Prices steadily inclined till 14th February.
- Rates dropped again and 17th February was the lowest rate for the month at Rs. 2,956.
- On February 27th, prices rose to Rs. 3,067 and stayed steady going into March.
Gold Rate Trend of Jodhpur in March 2016
- Gold rates at the start of the month were at Rs. 3,067 per gram and it climbed to Rs. 3,090.
- For most of the month, the rates were constant but started falling on 20th.
- Prices started rising again to Rs. 2,988 on 26th of March and stayed steady all the way to the end of March.
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.
Also Check Gold Price in NearBy Cities of Jodhpur
|Gold Rate In Kota||Gold Rate In Udaipur||Gold Rate In Jaipur|
- Also Check: Gold Rate in Rajasthan
Read more on Gold
- Auspicious Days To Buy Gold In 2016
- Global Demand For Gold Driven By Indian Wedding Traditions
- Gold Price Valuation In India
- Lack Of Credibility In India's Hallmarked Jewelleries
- Gold Rate Outlook for India in 2016
News About Gold Rate in Jodhpur
Gold Rate Falls As Decline In Gold Rate In The Global Market Hits India
Gold prices reduced by 0.38% to Rs, 31,577 per 10 grams in future trades today as parties involved reduce their transactions after noticing not-so-promising trend abroad. At Multi Commodity Exchange, gold for delivery in the month of October was trading lower by Rs. 120 to Rs. 31,577 per 10 grams in business turnover of about 1,443 lots. Also, gold for delivery in August dropped to Rs. Rs.116 to Rs. 31,492 per 10 grams in 6 lots. According to analysts, the reason for the fall in gold price may be due to the increase in employment rate in the United States and increase in the interest rates.
9th August 2016
Fourth Tranche of SGBs record Rs.919 Crore
The Sovereign Gold Bond Scheme offered by the Government of India through the Reserve Bank of India has gained popularity and momentum with the fourth tranche. The total applications for the first three tranches of the SGBs amounted to Rs.1,318 crore. This was equivalent to 4.9 tons of gold. The fourth tranche alone amounted to Rs.919 crore. The total in all four tranches amounts to Rs.2,240 crore. The issue price of this tranche was set at Rs.3,119 per gram. The record amount of applications in the fourth tranche equals 2.95 tons of gold showing remarkable interest from investors. SGBs are a new scheme of investment in gold without actually buying physical gold. The bonds earn interest at the rate of 2.75% p.a. on the initial investment amount which is payable half yearly. The government took steps to increase the appeal of the SGBs in the fourth tranche by reducing the minimum subscription limit from 2 grams to only 1 gram. Earlier redeeming the bonds would be liable to capital gains tax which has now been removed. The bonds are now tradable on the stock exchanges making it a much more attractive investment.
2nd August 2016
Low Domestic Demand Leads to Gold Price Drop
The price of gold fell for the second consecutive day in the country, closing the day at Rs. 29,030 for 10 grams. The fall in price is attributed to the slump in international markets as well as low demand domestically.
Jewellers and customers have lessened demand for gold over the past few days, while internationally gold was unable to sustain its initial gain. Prices had increased as the possibility of an interest rate hike by the Federal Reserve in June lost steam.
Spot gold fell by 0.3% to trade at $1,240.71 per ounce and U.S. gold futures for the month of June were trading at $1,243.50 per ounce, a fall of $3.90 an ounce.
With the Rupee gaining on the Dollar by 25 paise, importing gold became more affordable, further dampening demand.
Gold of 99.5 purity traded at Rs. 29,035 for 10 grams in Mumbai, a fall of Rs. 10 while the price in Delhi was Rs. 29,030 for 10 grams.
99.9 purity gold traded at Rs. 28,880 for 10 grams in Mumbai and Rs. 29,185 for 10 grams in Delhi.
9th June 2016