*Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.
Gold Price 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 2020 to March 2020 (per gram of 24 karat gold)
|1st Day||Rs.3,985 per gram||Rs.4,179 per gram||Rs.4,274 per gram|
|Last Day||Rs.4,179 per gram||Rs.4,358 per gram||Rs.4,253 per gram|
|Highest Price||Rs.4,216 per gram on 9 January||Rs.4,410 per gram on 25 February||Rs.4,510 per gram on 8 and 9 March|
|Lowest Price||Rs.4,011 per gram on 2 and 3 January||Rs.4,132 per gram on 7 February||Rs.4,111 per gram on 20 March|
Quarterly Gold Rate in Kolhapur from January 2020 to March 2020:
- In January, the gold rate in Kolhapur had a robust incline of 4.86% as it opened at Rs.3,985 per gram and closed at Rs.4,179 per gram. It slipped to the lowest price of Rs.4,011 per gram on the second and third day of the month only to spike to the highest price of Rs.4,216 per gram by the middle of the second week. The upward trend was sparked by volatility in equity markets due to the escalating Middle Eastern tensions between the US and Iran. It was also aided by the ongoing US-China trade war and rising fears of the coronavirus epidemic that had caused Chinese stock markets to plummet. All these factors led to gold taking on a brighter shine as a safe-haven investment in uncertain times.
- In the month of February, the upward trend continued, only to be slightly lower at 4.28%, having opened at Rs.4,179 per gram and closed at Rs.4,358 per gram. The highest spike was around the end of the month at Rs.4,410 per gram with the lowest price being in the first week at Rs.4,132 per gram. The dip in prices was in response to a rising dollar that encouraged the stock markets and dimmed the shine of gold as safe-haven investment somewhat. However, with the coronavirus escaping the boundaries of China and spreading across the world, gold picked up its appeal again as a safe-haven investment by the end of the month.
- The month of March saw a downward trend for gold, with a –0.49% across the month, with the highest being Rs.4,510 per gram in the second week while opening at Rs.4,274 per gram. It declined to Rs.4,111 per gram by 20 March, picking up slightly by the end of the month to close at Rs.4,253 per gram. This was in response to the coronavirus being declared as a pandemic by the World Health Organisation. With almost every country going on a lockdown across the world, physical purchasing and trading took a hit. The fears of a global recession became all too real which led to even precious metals taking a hit and no longer being seen as a safe haven investment. With stock markets plummeting and economies crashing around the world, investors chose to liquidate their assets, including in the bullion market, choosing hard cash over precious metals in times of unprecedented economic volatality.
Find Today's Gold Price in Top Metro Cities
|Today's Gold Price in Mumbai||Today's Gold Price in Chennai||Today's Gold Price in Bangalore|
|Today's Gold Price in Delhi||Today's Gold Price in Kolkata||Today's Gold Price in Hyderabad|
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
|Gold Rate In Mumbai||Gold Rate In Nagpur||Gold Rate In Pune||Gold Rate In Aurangabad|
|Gold Rate In Thane||Gold Rate In Nashik||Gold Rate In Solapur||Gold Rate In Amravati|
|Gold Rate In Nanded||Gold Rate In Sangli||Gold Rate In Jalgaon|
Read more on Gold
- Auspicious Days to Buy Gold in 2021
- Gold and Devaluation – A Relationship
- Lack of Credibility in India’s Hallmarked Jewelleries
- How Do Fluctuations In The Gold Rate Affect The Indian Economy?
- Significance of Gold in Indian Culture
- How To Buy Gold Coins/Bars (Bullion) Online