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Gold Rate in Kolhapur
Kolhapur is one of the major markets of gold in Maharashtra. Gold rate in Kolhapur is decided after a number of factors are taken into consideration. With a sizable population of gold buyers in the city being females and service-sector people, Kolhapur has a good demand for gold ornaments. This is also true for the rural populace who tend to invest in gold ornaments as a form of savings instead of gold bullions or ingots. The lower and middle class people in Kolhapur have an affinity towards gold.
Gold is available in different types in Kolhapur. Therefore, gold rate in Kolhapur varies from product-to-product of the yellow metal. In general, the gold bullion rates are the lowest in the city, while jewellery, ornaments and coins tend to cost more due to the workmanship done on them. Gold rate in Kolhapur is dynamic and follows the general trend of the state of Maharashtra.
Gold Rate Trend in Kolhapur for January 2017 to March 2017 (per gram of 24 karat gold)
|1st day||Rs.2,884 per gram||Rs.2,985 per gram||Rs.3,054 per gram|
|Last day||Rs.2,985 per gram||Rs.3,054 per gram||Rs.3,011 per gram|
|Highest price||Rs.2,997 per gram from 16th to 27th January||Rs.3,054 per gram from 24th to 28th February||Rs.3,054 per gram on 1st and 2nd March|
|Lowest price||Rs.2,884 per gram on 1st & 3rd January||Rs.2,985 per gram on 1st February||Rs.2,968 per gram on 15th of March|
Gold Rate Trend in Kolhapur for January 2017:
- Gold trading in Kolhapur was on the positive side as concerns over US monetary policy pushed the demand up.
- On 1st January, gold was trading at Rs.2,884 per gram.
- In fact, gold prices were doing so well that the rates seen during the first week were the lowest for the entire month.
- Gold prices didn’t change from 16th to 27th as they stayed at Rs.2,997 per gram.
- As investors saw profit to investing in gold, rates went up.
- The lack of sufficient action from the Donald Trump government helped gold prices kick up for most of January.
- Price trends saw an inclined growth in January at a rate of 3.50% as demand rose.
Gold Rate Trend in Kolhapur for February 2017:
- February began with gold selling at Rs.2,985 per gram, which went up over the subsequent days.
- Gold prices seemed to pick up to Rs.3,054 per gram, which happened towards the end of the month.
- February came to an end with gold rates holding at Rs.3,054 per gram - the highest gold rate for the entire quarter.
- The US Federal Reserve increased the interest rate in February, which brought down gold trading prices as investors were wary of investing in the bullion market.
- The interest rate increase affected both the international and the Indian markets as demand fell considerably.
- Despite seeing a hike in gold prices, Kolhapur saw gold prices go down gradually, thereby starting off on a downward trend for March.
- Price trends changed at a rate of 2.33% for the month of February.
Gold Rate Trend in Kolhapur for March 2017:
- March was a downer for gold sales as prices seemed to go down after the US Federal Reserve increased the interest rate for the second month in a row.
- The increase in interest rate brought about a rise in dollar value, which affected gold trading as investors backed out.
- When trading began for March, gold was selling at Rs.3,054 per gram before reaching lowest on 15th to Rs.2,968 per gram courtesy of a fall in demand.
- By the end of the month, however, prices rallied to end at Rs.3,011 per gram.
- The month of March saw the momentum drop massively as gold rates reached a negative stage, for the first time since Q4 2016 - when demonetisation gripped the nation.
- The last month of Q1 2017 saw gold prices decline at a rate of 1.40%.
Gold Rate Trend in Kolhapur from October to December 2016 (rates per gram for 24 karat gold)
|1st day||Rs.3,249||Rs.3,168 per gram||Rs.2,938 per gram|
|Last day||Rs.3,168||Rs.2,975 per gram||Rs.2,884 per gram|
|Highest price||Rs.3,249 on 1st and 2nd October||Rs.3,247 per gram on 11th November||Rs.2,938 per gram from 1st to 7th|
|Lowest price||Rs.3,123 from 7th October to 9th October||Rs.2,949 per gram on 25th November||Rs.2,810 per gram on the 22nd and 26th|
Gold Rate Trend in Kolhapur for October 2016
- Gold trading for Quarter 4 of 2016 started with the metal trading at Rs.3,249 per gram but dipped to as low as Rs.3,123 per gram on the 9th.
- On 10th, prices increased to Rs.3,135 per gram and further increased to Rs.3,143 per gram on 13th before falling again on the 14th to Rs.3,133 per gram.
- Prices seemed to pick up as they went up to Rs.3,154 per gram on the 20th.
- The last 10 days of October saw prices stabilise and increase to hit Rs.3,168 per gram on the 26th and continued at the same rate till the end of the month.
- Overall, there was a price trend change of -2.49% seen in the first month of Q4.
Gold Rate Trend in Kolhapur for November 2016
- November saw prices dwindle considerably as demonetisation came into effect.
- This was the month when there was a massive cash crunch, which brought about a massive decrease in gold prices.
- The first few days were considerably good as gold was trading at Rs.3,168 per gram which then increased to Rs.3,197 by the 9th as purchases increased.
- Prices increased significantly on the 11th to Rs.3,247 per gram as demand took an upward incline.
- However, price began to drop from the 13th as PAN card was made mandatory for gold purchases of more than Rs.2 lakh.
- From 13th to 18th, gold prices remained at Rs.3,082 per gram but fell significantly to Rs.3,009 per gram on the 19th.
- It was all downward curve from then on as prices hit Rs.2,976 per gram on 24th and then to Rs.2,949 per gram on the 25th.
- As cash flow issues seemed to subside, gold rates picked up slightly to end the month at Rs.2,975 per gram at the end of the month.
- The month of November saw a change of -6.09% in Kolhapur.
Gold Trend Rate in Kolhapur for December 2016
- The ill-effects of demonetisation seemed to continue for much of December as cash was still relatively unavailable in most parts of the country.
- The month began with gold trending at Rs.2,938 per gram - a sharp decrease of 37 from the last day of November.
- Although, prices remained the same till 7th, it fell to Rs.2,907 per gram on the 8th.
- On 10th, prices fell again to hit Rs.2,879 per gram and then to Rs.2,842 per gram on the 16th.
- Prices fell to Rs.2,826 per gram on the 17th and continued at the same rate till 21st but decreased again to Rs.2,810 per gram on the 22nd.
- Courtesy of new year approaching, gold rates seemed to increase as it saw prices end at Rs.2,884 per gram.
- Overall, the month of December saw a change of -1.83%.
Gold Rate Trend in Kolhapur for July 2016 to September 2016 (per gram of 24 karat gold)
|1st day||Rs.3,112 per gram||Rs.3,249 per gram||Rs.3,212 per gram|
|Last day||Rs.3,249 per gram||Rs.3,225 per gram||Rs.3,279 per gram|
|Highest price||Rs.3,246 per gram on 6th and 7th July||Rs.3,283 per gram on 18th August||Rs.3,285 per gram from 24th to 26th September|
|Lowest price||Rs.3,112 per gram on 1st July||Rs.3,225 per gram on 31st August||Rs.3,212 per gram on 1st and 2nd September|
Gold Rate Trend of Kolhapur in July 2016
- Gold traded at Rs.3,112 per gram on 1st July, and prices increased consistently for the first seven days of the month, after which they fluctuated.
- Prices increased marginally on two days of the third week and gained stability at Rs.3,226 between the 11th and 15th of July, and at Rs.3,234 between the 16th and 18th, after which they began to decline.
- Prices remained constant at Rs.3,223 from the 22nd to the 30th of the month thanks to firming trends.
- The month closed with gold trading at Rs.3,249 per gram on 31st July.
Gold Rate Trend of Kolhapur in August 2016
- The rate of gold per gram on the 1st of August was recorded at Rs.3,249.
- Prices fluctuated as the month progressed, rising and falling on certain days until they gained stability at Rs.3,226 on the 6th and remained unchanged until the 9th.
- Domestic demand was stable as jewellers and retailers increased their offtake for the festive season, leading to a consistent rise in prices until the 18th when they hit Rs.3,283 – the highest recorded rate in August.
- Prices then declined consistently and the yellow metal closed the month at Rs.3,225 per gram.
- Overall, prices declined by 0.73% between the first and last day of August.
Gold Rate Trend of Kolhapur in September 2016
- Gold traded at Rs.3,212 per gram on 1st and 2nd September, which was the lowest rate for this month.
- The highlight for this month was that the interest rate hike by the U.S. Federal Reserve was put on hold as the U.S. presidential elections were too close.
- Prices remained stable from the 3rd of September to the 12th at Rs.3,229.
- Prices rose gradually until the 24th when they hit Rs.3,285 per gram and remained stable until the 26th of September.
- Prices remained constant for the last four days of the month and closed September at Rs.3,279 per gram.
- The overall increase in prices between the first and last day of the month was recorded at 2.09%.
Gold Rate Trend in Kolhapur for April 2016 to June 2016 (per gram of 24 karat gold)
|1st day||Rs. 2,989 per gram||Rs. 3,154 per gram||Rs.3,038 per gram on June 1st|
|Last day||Rs. 3,154 per gram||Rs. 3,018 per gram||Rs.3,112 per gram on 30th of June|
|Highest price||Rs. 3,154 per gram on 30 April.||Rs. 3,154 per gram on 1 May.||Rs.3,192 per gram on 27th of June|
|Lowest price||Rs. 2,989 per gram on 1 April.||Rs. 2,915 per gram on 14 May.||Rs.3,015 per gram on June 3rd|
Gold Rate Trend in Kolhapur in April 2016
- There was an increase in the price of gold as the month of April progressed.
- A number of fluctuations were witnessed in gold rates throughout the month.
- The highest rate of gold recorded was on the last day of the month at Rs. 3,154 per gram.
Gold Rate Trend in Kolhapur in May 2016
- Boosted by an increase in demand, the price of gold per gram was Rs. 3,154 at the beginning of the month.
- However, as the month progressed there was a gradual decline. This may be due to the expectation of hike in interest rates by US Fed.
- A decline of 4.31% was witnessed.
Gold Rate Trend of Kolhapur in June 2016
- Gold opened the month at Rs.3,038 per gram on the 1st of June.
- Gold scored the highest for the month on 27th of June at Rs.3,192 per gram.
- Gold closed the month at Rs.3,112 per gram on the 30th of June.
Factor January February March 1st day Rs. 2,601 per gram Rs. 2,775 per gram Rs. 3,068 per gram Last day Rs. 2,775 per gram Rs. 3068 per gram Rs. 2,989 per gram Highest price Rs. 2,775 per gram on 31, January. Rs. 3068 per gram on 29 February Rs. 3086 per gram on 31, March. Lowest price Rs. 2,601 per gram on 1, January. Rs. 2,775 per gram on 1 February. Rs. 2,989 per gram on 1, March. Trend Rising Rising Decline Change +6.68% +10.55% -2.57%
Gold Rate Trend in Kolhapur in January 2016
- Gold rates remained more or less the same throughout the month.
- A rise of 6.68 percent was seen in the rates towards the end of the month.
- The highest rate was seen on the last day of the month at Rs. 2,775 per gram.
Gold Rate Trend in Kolhapur in February 2016
At Rs. 2,775 per gram, gold was at its lowest rate at the beginning of the month.
- However,prices increased towards the end.
- There were a few fluctuations in the rate of gold throughout the entire month of February.
Gold Rate Trend in Kolhapur in March 2016
- One of the highest rates of gold per gram was seen in the month of March.
- There were very minor fluctuations, however as the month progressed, the rate of gold declined.
- A decline of 2.57% was seen by the end of the month as compared to the rates at the beginning.
Details of Gold Price in Kolhapur (22 Karat & 24 Karat) - Till July 2015
Gold rate in Kolhapur for 2015 is available for both 22 karat and 24 karat purities of the yellow metal.
22 karat gold (per gram rates): Since the beginning of 2015, 22-karat gold rate in Kolhapur has seen a general downward movement. Prices were generally above Rs.2,600 in the month of January, and were at a healthy above-2,500 level throughout February and March. The peak reached on 23rd January at Rs.2,625 hasn’t been matched at any other date in this year in Kolhapur. Prices stayed at the level of Rs.2,400 to Rs.2,500 through most of April and May before peaking on Rs.2,583 on 19th May. Gold rates were stable at Rs.2,450 to Rs.2,500 throughout the month of June, while July saw further depreciation of rates over the month before bottoming out on 25th July at Rs.2,279.
24 karat gold (per gram rates): 24 karat gold rate in Kolhapur at the start of the year was above Rs.2,600. Prices climbed steeply for the next 3 weeks and peaked on 23rd Jan at Rs.2,805. Prices for February started at a high of Rs.2,802 before settling in the range of Rs.2,650 to Rs.2,750 for most of the month. Prices spiralled to a low of Rs.2,580 on 13th March, before recovering some value over the next month. Prices stabilised at the level of Rs.2,650 to Rs.2,750 over the months of April and May, and peaked at Rs.2,763 on 19th May. June also saw healthy gold rate in Kolhapur with prices staying within the range of Rs.2,630 and Rs.2,700. However, there was a steep decline in prices in the month of July, when rates fell from Rs.2,600 level at the start of the month to a bottom rate of Rs.2,459 on 25th July.
Gold buying patterns in Kolhapur
Gold is popular in the form of ornaments and jewellery in Kolhapur, being the choice product for female, service-industry and rural people. Gold is available in Kolhapur in the following forms:
- Physical gold: Solid gold is sold in the forms of jewellery, ornaments, utensils, bullions, bars, ingots, coins etc. in Kolhapur, with the most popular form being jewelleries and ornaments. These typically have a higher price tag than pure gold bars. Coins are also a good option as they allow people to hold gold in lower denominations, with bank-offered coins usually sold at higher price due to their assured quality.
- Traded gold: Gold is also available for trade on spot and futures markets. The spot contracts can be bought instantly, with the physical metal getting delivered in the next few days, while futures contract is available for buying gold at current prices for a future date. This helps in offsetting the effects of inflation and will give buyers additional option to earn profits if markets are favourable to the price of gold. Gold is also available as exchange traded funds (ETF) by various providers, who speculate on the rate of gold on stock exchanges such as the Bombay Stock Exchange (BSE).
- Also Check:Gold Rate in Maharashtra
Also Check Gold Price in NearBy Cities of Kolhapur
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