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Kota is the third-most populated city of Rajasthan, and is located close to the state’s capital Jaipur. It used to be a part of the kingdom of Bundi, ruled by Rajputs. City Fort Palace, Jagmandir Palace and the artificial lake Kishore Sagar are popular tourist haunts.
Kota is an educational hub, with a number of engineering and medical coaching institutions as well as universities and colleges. The city, located along the banks of River Chambal, is also a trade centre for agricultural products. The main economic activities include mills of cotton and oilseed, weaving, dairy, distilleries as well as production of metal handicrafts, chemicals and fertilizers, and engineering equipment.
Gold prices in Kota
Gold is an auspicious metal for India, and Kota is no exception to this preference. People of Kota buy gold ornaments to wear on weddings and family functions, and give gold jewellery and articles as presents for anniversaries and birthdays. Rolled gold and gold-plated jewellery, which contain about 1% of gold polished on to the surface, are also popular.
Since gold is not produced locally, Kota jewellers depend on imported gold. Fluctuations in te international gold market, therefore, affect the prices in the city. Gold of 99.9% purity – 24-karat gold – is generally purchased by jewellers and those investing in gold coins and bullions. Gold of 91.6% purity – 22-karat – is favoured by consumers buying jewellery. Pure gold is not suitable to make ornaments because of its lack of strength. The 22-karat gold is mixed with 2 parts of silver, copper, nickel or other metals to form a durable alloy with which to make ornaments and gold articles.
24-karat gold prices: The price of 10 grams of 24-karat gold in Kota was Rs. 29,760, up by just Rs. 260 from 10 days ago (March 2, 2016), when it was Rs. 29,500. Gold prices in Kota grew only around 0.87 percent in 10 days. The price of 24-karat gold in Delhi on March 11, on the other hand, was Rs. 30,374, which is Rs. 614 more than the rate in Kota.
22-karat gold prices: On March 11, 10 grams of 22-karat gold was selling at Rs. 27,820 in Kota, merely 1.02 percent higher than the Rs. 27,540 registered on March 2. The gold rate in Delhi on March 11 was Rs. 580 (2%) more that the price in Kota, at Rs. 28,400.
Gold Rate Trend in Kota 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 30 April.||Rs. 3,153 per gram on 16 May.||Rs.3,212 per gram on 25th June|
|Lowest price||Rs. 2,957 per gram on 4 April.||Rs. 2,991 per gram on 31 May.||Rs.2,991 per gram on 1st June|
Gold Rate Trend in Kota in April 2016
- Gold rate per gram steadily increased as the month progressed.
- Gold traded at Rs. 3,147 per gram on 30 April and this rate was the highest in the month.
- A rise of 5.32% was witnessed.
Gold Rate Trend in Kota in May 2016
- The month of May witnessed a decline in gold rates per gram.
- This is largely attributed to the expectation of interest rate hikes by US Fed.
- A decline of 4.95% was witnessed towards the end of the month.
Gold Rate Trend of Kota in June 2016
- 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.
- The highest rate of gold was noted on the 25th of June wherein gold was priced at Rs.3,209 per gram.
- There were many fluctuations noted in the price of gold throughout the month but were largely on the higher side.
- Post Brexit polls, economic uncertainty throughout the world resulted in a drastic increase in the price of gold.
Gold Rate Trend in Kota 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. 2781 per gram on 31 Jan.||Rs. 3,067 per gram on 29 February.||Rs. 3,090 per gram on 10 March.|
|Lowest price||Rs. 2605 per gram on 1 Jan.||Rs. 2,797 per gram on 2 February.||Rs. 2,974 per gram on 23 March.|
Gold Rate Trend in Kota in January 2016
- Gold rates remained more or less the same throughout the month.
- A rise of 6.75 percent was seen in gold rate per gram towards the end of the month.
- The highest rate was seen on the last day of the month at Rs. 2,781 per gram.
Gold Rate Trend in Kota in February 2016
- There were a few fluctuations in gold rate per gram throughout the month of February.
- However, the month witnessed a rise in gold prices at a rate of 10.28%.
- The highest rate was Rs. 3,067 per gram on 29 February.
Gold Rate Trend in Kota in March 2016
- The month of March saw a decline in the rates of gold per gram.
- At the beginning of the month, the rate of gold was at one of its highest but saw a decline as the month progressed.
- The lowest rate recorded was on 23 March at Rs. 2,974 per gram.
Gold investment in Kota
No reliable figures are available to indicate the demand for gold in Kota. However, the high number of gold jewellery showrooms in the city indicate that the appetite for the precious metal is high in Kota. Kota’s status are the third-largest city also means that several small-town citizens will flock to the city to purchase their ornaments.
Gold investment in Kota takes two main forms, just like in the rest of the country.
Physical gold: Indians invest in gold by buying jewellery and gold coins/bullions. They sell off the gold or pledge it for loans when they are in monetary crisis. Gold ornaments and articles are procured over the counter from jewellers and showrooms. However, gold bars and coins of the highest purity and quality can be obtained from banks and authorised financial institutions. These can also be got from jewellers and pawnshops, and people of Kota prefer to deal with shops than banks because of the slightly higher rates the banks charge.
Market trade: Paper gold investment options such as gold exchange traded funds (Gold ETFs), sovereign gold bonds and e-gold are also transacted in Kota. These modes may not be popular yet, but those trading in stocks and bonds are slowly becoming favourable towards gold funds and bonds.
Also Check Gold Price in NearBy Cities of Kota
|Gold Rate In Udaipur||Gold Rate In Jaipur||Gold Rate In Jodhpur|
- Also Check: Gold Rate in Rajasthan
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