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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 October 2020 to December 2020 (per gram of 24 karat gold)
|1st Day||Rs.5,159 per gram||Rs.5,162 per gram||Rs.4,835 per gram|
|Last Day||Rs.5,162 per gram||Rs.4,879 per gram||Rs.5,063 per gram|
|Highest Price||Rs.5,202 per gram on 10 and 11 October||Rs.5,205 per gram from 7 November to 9 November||Rs.5,120 per gram on 21 December|
|Lowest Price||Rs.4,914 per gram on 18 and 19 October||Rs.4,879 per gram on from 28 November to 30 November||Rs.4,835 per gram on 1 December|
Quarterly Gold Rate in Kota from October 2020 to December 2020:
- Gold prices in Kota opened at the rate of Rs.5,159 per gram in the month of October 2020. During the month it had hit the highest price point on 10th and 11th of October wherein the precious metal was being traded at the rate of Rs.5,202 per gram. The lowest price of the yellow metal was recorded on 18th and 19th of October wherein it stood at the rate of Rs.4,914 per gram. The month closed with gold price in Kota being listed at Rs.5,162 per gram. During the month, the overall performance of gold in Kota witnessed an increase of 0.05%.
- In the month of November 2020, the gold prices in Kota opened at the rate of Rs.5,162 per gram. There was no change in the price when compared to the closing rate of the previous month. During the month it had hit the highest price point from 7th to 9th of November wherein the precious metal at the rate of Rs.5,205 per gram. The lowest price of the yellow metal was recorded from 28th to 30th of November wherein it stood at the rate of Rs.4,879 per gram. The month closed with gold price in Kota being listed at Rs.4,879 per gram. During the month, the overall performance of gold in Kota witnessed a decrease of -5.48%.
- In Kota, the price of gold opened at the rate of Rs.4,835 per gram in the month of December 2020. For the month, gold had hit the highest price point of Rs.5,120 per gram on 21st December 2020. The lowest price was recorded on 1st of December wherein it stood at the rate of Rs.4,835 per gram. The month closed with gold price in Kota being listed at Rs.5,063 per gram. During the month, the overall performance of gold in Kota witnessed an increase of 4.71%.
Gold Rate Trend in Kota for July 2020 to September 2020 (per gram of 24 karat gold)
|1st Day||Rs.4,243 per gram||Rs.5,465 per gram||Rs.5,250 per gram|
|Last Day||Rs.5,455 per gram||Rs.5,240 per gram||Rs.5,145 per gram|
|Highest Price||Rs.5,455 per gram on 31 July||Rs.5,712 per gram on 8 August||Rs.5,311 per gram on 17 September|
|Lowest Price||Rs.4,919 per gram on 7 July||Rs.5,221 per gram on 29 August||Rs.5,072 per gram on 29 September|
Quarterly Gold Rate in Kota from July 2020 to August 2020:
- Opening at Rs.4,243 per gram on 1 July, the gold rate in Kota hit its lowest price of the month on 7 July at Rs.4,919 per gram and showed an inclining trend through July. On 31 July, the metal hit its highest price of the month at Rs.5,455 per gram, closing with a percentage incline of 28.56.
- In August, gold prices opened at Rs.5,465 per gram in Kota and showed a declining trend throughout the month. On 8 August, the metal’s price was at its highest at Rs.5,712 per gram and declined to hit its lowest price on 29 August at Rs.5,221 per gram. Gold closed at Rs.5,240 per gram with a percentage decline of 4.11.
- Gold rate in September opened at Rs.5,250 per gram and showed a continuously fluctuating trend, hitting its highest on 17 September at Rs.5,311 per gram. The metal hit the lowest price of the month on 29 September at Rs.5,072 per gram and closed with a decline of 2%.
Gold Rate Trend in Kota for April 2020 to June 2020 (per gram of 24 karat gold)
|1st Day||Rs.4,229 per gram||Rs.4,699 per gram||Rs.4,727 per gram|
|Last Day||Rs.4,761 per gram||Rs.4,727 per gram||Rs.4,959 per gram|
|Highest Price||Rs.4,846 per gram on 29 April||Rs.4,883 per gram on 18 and 19 May||Rs.4,959 per gram on 30 June|
|Lowest Price||Rs.4,229 per gram from 1 April to 20 April||Rs.4,646 per gram on 2 May||Rs.4,706 per gram from 8 June to 10 June|
Quarterly Gold Rate in Kota from April to June:
- On 1 April 2020, the price of gold in Kota was at Rs.4,229 for a gram. Over the next 20 days, gold rates remained the same. This was the lowest rate that the yellow metal hit for the month. The coronavirus outbreak across the world was the main reason for the prices to increase. On 30 April, the price of gold was at Rs.4,761 for a gram, seeing a 12.5% incline over the course of the month.
- In the month of May, the prices of gold opened and closed at Rs.4,699 per gram and Rs.4,727 per gram, respectively. The tensions between China and the US was the main reason for the prices to increase. Gold saw its prices increase by 0.59% in May.
- In June, the prices of gold saw an incline of 4.90%. The increase in the number of coronavirus cases and the stimulus measures that were introduced ensured that the prices increased.
Gold Rate Trend in Kota for January 2020 to March 2020 (per gram of 24 karat gold)
|1st Day||Rs.4,023 per gram||Rs.4,194 per gram||Rs.4,291 per gram|
|Last Day||Rs.4,194 per gram||Rs.4,379 per gram||Rs.4,229 per gram|
|Highest Price||Rs.4,256 per gram on 9 January||Rs.4,425 per gram on 25 February||Rs.4,497 per kg on 7, 8 and 9 March|
|Lowest Price||Rs.4,023 per gram on 1 January||Rs.4,163 per gram on 6 and 7 February||Rs.4,153 per gram on 18 and 19 March|
Quarterly Gold Rate in Kota from January 2020 to March 2020:
- The year, 2020 kicked off with gold being priced in Kota at Rs.4,023 per gram on 1 January. The rate of the metal had increased by 4.25% during the month. The gold rates had hiked during the first week of January and had touched its highest price on 9 January. On this day, the metal had been priced at Rs.4,256 per gram. Traders had shifted to the gold bullion market as tensions started brewing in the Middle East, coupled with the impeachment inquiry by the U.S. President. These traders had invested in the bullion market and this led to a steady trend in the gold prices closer to the end of the month. On 16 January, gold was being sold at Rs.4,095 per gram. The price remained the same till 20 January. The month came to an end with the yellow metal being priced at Rs.4,194 per gram.
- Gold had stepped into the second month of the year, standing at Rs.4,194 per gram on 1 February. The rates of the yellow metal had then declined as China had taken steps that were necessary for ensuring that the economy could stand back on its feet. The price of gold had then remained stagnant at Rs.4,229 per gram during the third week of the month. The rates of the metal had skyrocketed in two days’ time from 20 February (Rs.4,224 per gram) to 22 February (Rs.4,322 per gram). This had been driven by the fear of the coronavirus across the world. The fluctuations and hike in rates of the precious metal had forced investors to book profits which had then reduced its rates. On 29 February, the price of the metal stood at Rs.4,379 per gram.
- March had opened with gold being priced at Rs.4,291 per gram. The yellow metal prices had declined across the world because of the pandemic and that had been impacting the global economy. The first week of March saw the rates of gold increase as traders had been hoping for a cut in the interest rates by the United States Federal Reserve. Investors had taken refuge in the gold bullion and this led to a hike in the price of gold to Rs.4,338 per gram by 3 March. The next day, the price had increased to Rs.4,446 per gram. By 21 March, the metal saw an increase in its price because of subdued safe-haven demand. Gold had been priced at Rs.4,229 per gram on 25 March, and it remained steady till 31 March. During this month, gold had recorded a decline of 1.44%.
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
- Also Check: Gold Rate in Rajasthan
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