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Gold rate in Madhya Pradesh
Madhya Pradesh is a Northern state in India which is is said to be very rich in culture and boasts of one of the most ancient but renowned universities of India, Nalanda. The state is very well established in terms of language and artistry and are said to be consisting a population that has a very simple taste and lead a humble lifestyle, but when it comes to jewelry, gold is an auspicious part of their day to day life. A woman from the state is often seen wearing some sort of gold ornament even if it is the form of a nose ring. However, in Madhya Pradesh similar to other states in the country the rates are based on the prices around the region and fixed on the basis of the gold rates from the other parts of the country. Here, you will read about the general trend and rates of gold in the state.
Gold Rate Trend in Madhya Pradesh for April 2019 to June 2019 (per gram of 24 karat gold)
|1st day||Rs.3,266 per gram||Rs.3,281 per gram||Rs.3,255 per gram|
|Last day||Rs.3,297 per gram||Rs.3,255 per gram||Rs.3,486 per gram|
|Highest price||Rs.3,297 per gram on 28-30 April||Rs.3,318 per gram from 16-18 May||Rs.3,533 per gram on 26 and 27 June|
|Lowest price||Rs.3,245 per gram from 20-22 April||Rs.3,213 per gram from 4 May||Rs.3,255 per gram on 1 June|
Gold Rate Trend in Madhya Pradesh for January 2019 to March 2019 (per gram of 24 karat gold)
|1st day||Rs.3,219 per gram||Rs.3,411 per gram||Rs.3,439 per gram|
|Last day||Rs.3,411 per gram||Rs.3,439 per gram||Rs.3,266 per gram|
|Highest price||Rs.3,411 per gram on 31 January||Rs.3,446 per gram from 20-27 February||Rs.3,439 per gram on 1 March|
|Lowest price||Rs.3,219 per gram from 1-3 January||Rs.3,398 per gram from 8-19 February||Rs.3,281 per gram on 22 March|
Gold rate trend in Madhya Pradesh for January 2019:
- The gold rate in Madhya Pradesh increased at the start of January 2019 as the rupee increased in value in comparison to the dollar.
- Demand for the metal surged globally amongst investors, as many switched to investing in bullion as opposed to stocks and equites. The share mark dipped in value globally and the metal stood at Rs.3,219 per gram on 1st January. It remained the same till 3rd January after which there was a steady increase in the value of gold for the month.
- There was a surge in demand for the metal amongst industrialists and local jewelers throughout the country. Therefore, there was a surge in the price of the metal causing the import business for gold to thrive.
- At the end of the month, the price of gold hit its highest point at Rs.3,411 per gram resulting in a percentage incline of 5.96%.
Gold Rate Trend in Madhya Pradesh for February 2019:
- On the 1st of February, gold sold at Rs.3,411 per gram as equity markets remained low and bad economic trends prevailed despite the Federal Reserve indicating positive trends.
- Gold rate in Madhya Pradesh from the 8th to 19th dipped to Rs.3,398 per gram as investor interest in the metal declined and the US dollar dipped rose in comparison to other currencies. This also dampened local and retail demand.
- Trade talks between Sino-US boosted the value of the dollar. However, economic uncertainty caused due to Brexit led to a higher interest in bullion. On 20th February, the price of the metal stood at Rs.3,446 per gram.
- The price of gold in the city then remained steady as local offtake increased. However, as the US dollar gained an edge towards the end of the month, the price of gold declined to Rs.3,439 per gram on 28th February.
Gold rate trend in Madhya Pradesh for March 2019:
- The month started at a low as the gold rate in Madhya Pradesh declined from last month as the dollar increased in value. During the same time, equities declined in value as well. The price of gold at the start of March was recorded at Rs.3,439 per gram. This was also the highest price that the yellow metal stood at for the month.
- At the end of the first week of the month, the Euro surpassed the dollar after the ECB (European Central Bank) postponed their interest hike. This stunted potential gain for bullion propelled by darkened economic situations.
- On 22nd March, the value of gold dipped to one of its lowest points as the dollar strengthened and poor economic conditions prevailed. At this point, gold in Madhya Pradesh was trading at Rs.3,281 per gram.
- The month ended with gold being priced at its lowest when it was priced at Rs.3,266 per gram. The month recorded a declining trend for the month and the percentage decline was recorded at –5.03%.
Gold Rate Trend in Madhya Pradesh for October 2018 to December 2018 (per gram of 24 karat gold)
|1st day||Rs.3,140 per gram||Rs.3,302 per gram||Rs.3,131 per gram|
|Last day||Rs.3,302 per gram||Rs.3,140 per gram||Rs.3,219 per gram|
|Highest price||Rs.3,302 per gram on 30 and 31 October||Rs.3,302 per gram on 1 November||Rs.3,234 per gram from 11 to 17 December|
|Lowest price||Rs.3,228 per gram on 9 October||Rs.3,140 per gram on 30 November||Rs.3,127 per gram on 2 and 3 December|
Gold rate trend in Madhya Pradesh in October 2018
- For the month of October, gold prices showed a positive trend due to the US-China trade wars which led to the falling of global markets.
- On 1 October, gold traded at Rs.3,140 per gram and increased to Rs.3,228 per gram by the middle of the month as investors leaned towards the bullion as a safe-haven asset. This resulted in an increase in demand globally.
- Gold trade saw a rise in the local demand for the metal from jewellers due to the upcoming festivals of Dhanteras in the country.
- Gold trading closed on 31 October at a monthly high of Rs.3,302 per gram resulting in a percentage increase of 5.15.
Gold rate trend in Madhya Pradesh in November 2018
- Gold trading in November showed a downward trend as the value of the dollar recovered against other currencies, as the markets recovered as well.
- The price of the metal on 1 November was Rs.3,302 per gram and was steady in the country until the first week of the month due to Diwali.
- However, in the second half of the month, gold prices plummeted due to low investor demand in the country. This also affected the import trading of the metal.
- In the last week, gold hit the lowest price of the month on 30 November at Rs.3,140 per gram with a percentage decline of 4.90.
Gold rate trend in Madhya Pradesh in December 2018
- On 1 December, gold opened at Rs.3,131 per gram and increased in the month as the value of the rupee increased against the dollar due to falling global markets.
- Due to this, investor demand increased for the bullion, resulting in the rise in prices locally. From 11 December to 17 December, gold trade was priced at its highest at Rs.3,234 per gram.
- In the second half of the month, as the wedding season began in the country, the demand amongst local jewellers increased which also provided a boost to the import business.
- On 31 December, gold trading closed at Rs.3,219 per gram with a percentage incline of 2.81.
Gold Rate Trend in Madhya Pradesh for July 2018 to September 2018 (per gram of 24 karat gold)
|1st day||Rs.3,146 per gram||Rs.3,079 per gram||Rs.3,129 per gram|
|Last day||Rs.3,082 per gram||Rs.3,116 per gram||Rs.3,167 per gram|
|Highest price||Rs.3,165 per gram on 7 July||Rs.3,116 per gram on 31 August||Rs.3,186 per gram on 26 September|
|Lowest price||Rs.3,082 per gram on 31 July||Rs.3,032 per gram on 17 August||Rs.3,114 per gram on 4 September|
Gold Rate Trend in Madhya Pradesh for July 2018:
- The month began with gold price in Madhya Pradesh holding at Rs.3,146 per gram on the 1st with strong investor demand amid the weakened US dollar index and losing equity markets.
- Gold rates were recorded at their highest level on the 7th with the precious metal trading at Rs.3,165 per gram amid the firm trend overseas.
- However, with the Indian rupee losing considerable ground against the dollar index, demand for the metal dropped considerably and the bullion prices were recorded holding at Rs.3,082 per gram on the 31st.
- Poor trends overseas coupled with reduced investor demand for the safe-haven asset led to gold rates dropping by 2.03% during the course of the month.
Gold Rate Trend in Madhya Pradesh for August 2018:
- Gold trade in Madhya Pradesh were greatly influenced by the unsteady US dollar and fluctuating equity markets, pushing demand higher for the safe-haven asset.
- Gold was recorded trading at Rs.3,079 per gram on the 1st when the month began amid positive overseas trends.
- With investors banking on equities and stocks amid the prevailing trade war crisis, demand for the metal was on the low and gold was priced at Rs.3,032 per gram on the 17th. However, with investors gravitating towards safe-haven assets amid the long-term US-China trade war scenario, demand for the yellow metal surged towards the end of the month.
- Trading closed for the month with gold trading at a monthly high of Rs.3,116 per gram on the 31st amid the strong trend overseas.
Gold Rate Trend in Madhya Pradesh for September 2018:
- The final month of Q3 2018 opened with gold rate in Madhya Pradesh holding at Rs.3,129 per gram on the 1st with domestic market participants capitalising on the gains from the previous month.
- However, with the US dollar gaining against other emerging currencies, demand for the metal dropped and gold was priced at a monthly low of Rs.3,114 per gram on the 4th.
- Demand picked up towards the end of the month with investors and market participants banking on the bullion amid Italy’s budgetary crisis and gold was recorded trading at Rs.3,186 per gram on the 26th.
- Trading closed for the month with the yellow metal priced at Rs.3,167 per gram on the 30th with subdued but steady local demand for the metal. Madhya Pradesh registered a profit of 1.21% during the course of the month.
Gold Rate Trend in Madhya Pradesh for April 2018 to June 2018 (per gram of 24 karat gold)
|1st day||Rs.3,148 per gram||Rs.3,219 per gram||Rs.3,208 per gram|
|Last day||Rs.3,219 per gram||Rs.3,208 per gram||Rs.3,142 per gram|
|Highest price||Rs.3,232 per gram on 26 and 27 April||Rs.3,228 per gram from 8 - 16 and 25 - 30 May||Rs.3,208 per gram from 1-4 June|
|Lowest price||Rs.3,148 per gram from 1 April to 12 April||Rs.3,205 per gram from 17 to 24 May||Rs.3,142 per gram on 30 June|
Gold Rate Trend in Madhya Pradesh for April 2018
- In the beginning of the month of April 2018, the gold rate in Madhya Pradesh stood at Rs.3,418 per gram.
- The lowest price of the metal for the month was Rs.3,148 recorded during the first half of the month until the 12th.
- Due to high demand, Gold price rose to Rs.3,232 towards the end of the month, on 26th and 27th.
- At the end of the month, due to high demand, the Gold Price in the state rose to Rs.3,219 per gram.
- It was an incline trend in Madhya Pradesh when compared to the previous month as the rate of the metal rose by 2.25%.
Gold Rate Trend in Madhya Pradesh for May 2018
- In the beginning of the month of May 2018, the Gold Rate in Madhya Pradesh stood at Rs.3,219 per gram.
- The lowest price of Gold for the month of May was Rs.3,205, recorded on 17th - 24th of the month.
- The Gold rate for the month of May was the highest during the 8th - 16th and 25th to 30th, when it stood strong at Rs.3,228.
- On the last day of May the Gold price stood at Rs.3,208 per gram.
- It was a declining trend for the metal in Madhya Pradesh for May when compared to the previous month as it reduced by 0.34%.
Gold Rate Trend in Madhya Pradesh for June 2018
- In the beginning of June, the Gold price in the state of Madhya Pradesh stood at Rs.3,208 per gram, a slight increment from the last day of the previous month.
- This was the highest that the price of the metal stood at, and remained at Rs.3,208 until the 4th of May.
- The Gold price then deteriorated and hit its lowest on the 30th of June when it stood at Rs.3,142.
- It was a declining trend when compared to the previous month as the Gold rate declined heavily by 2.05%.
- Rs.3,142 per gram is what the Gold rate stood at for the end of the month, June 2018 in Madhya Pradesh.
Gold Rate Trend in Madhya Pradesh for January 2018 to March 2018 (per gram of 24 karat gold)
|1st day||Rs.3,093 per gram||Rs.3,128 per gram||Rs.3,147 per gram|
|Last day||Rs.3,121 per gram||Rs.3,147 per gram||Rs.3,148 per gram|
|Highest price||Rs.3,164 per gram on 25 January||Rs.3,148 per gram from 3 to 5, 7 and from 17 to 22 February||Rs.3,148 per gram on 8, 9 and from 24 to 31 March|
|Lowest price||Rs.3,080 per gram from 4 to 8 January||Rs.3,091 per gram from 9 to 11 February||Rs.3,123 per gram from 17 to 23 March|
Gold Rate Trend in Madhya Pradesh for January 2018:
- Trading commenced for the month with the precious metal priced at Rs.3,093 per gram on the 1st amid firm market trends.
- A rise in the dollar value coupled with well-performing equity markets led to gold priced plunging to Rs.3,080 per gram on the 4th.
- Poor global cues coupled with weak domestic demand from local jewellers, retailers and industries led to gold rates remaining untouched at Rs.3,080 per gram until the 8th.
- However, with the US payroll data indicating a decline in employment figures for the month of December, the US dollar index lost against a basket of other currencies. This led to gold prices recover over the next couple of week.
- Demand for gold surged as the month progressed with investors gravitating towards assets considered safe such as bullion to hedge against inflation concerns. Gold was recorded trading at Rs.3,164 per gram on the 25th amid the positive trend overseas.
- Trading concluded for the month with the yellow metal trading at Rs.3,121 per gram as domestic demand stabilised and Madhya Pradesh registered a profit of 0.90% in bullion trade during the course of the month.
Gold Rate Trend in Madhya Pradesh for February 2018:
- The second month began with gold prices holding at Rs.3,128 per gram on the 1st with steady domestic demand coupled with positive trends overseas.
- The weakened US dollar coupled with poorly-performing equities markets led to gold rates surging during the initial weeks.
- On the 3rd, the yellow metal was recorded trading at Rs.3,148 per gram - the highest monthly figure - with the bullion capitalising on the back of the losing dollar and equities.
- Strong global cues coupled with steady domestic demand led to gold rates remaining unaltered at Rs.3,148 per gram for the next couple of days.
- However, the US jobs and payrolls’ data for the month of January proved to be stronger-than-expected with reports indicating a rise in number of jobs contributing to the US economy. This led to gold rates dropping to Rs.3,091 per gram on the 9th.
- As the month progressed, the US dollar eased and returns on stocks declined. This led to gold prices rebounding to Rs.3,148 per gram on the 17th.
- The month came to an end with the bullion prices holding at Rs.3,147 per gram on the 28th with steady domestic demand from retailers and jewellers amid positive global trends.
- Gold prices in Madhya Pradesh gained by 0.60% during the course of the month.
Gold Rate Trend in Madhya Pradesh for March 2018:
- Firm trends overseas coupled with steady domestic demand led to gold prices remaining on the positive side for much of the month in Madhya Pradesh.
- Trading began with the precious metal prices holding firm at Rs.3,147 per gram on the 1st with steady demand from local jewellers, retailers and industries.
- Gold rates rose to Rs.3,148 per gram on the 8th as the US dollar index lost against other emerging currencies and continued trading at the same price the following day
- Prices, however, declined over the next few days with the US dollar regaining lost ground from its previous rally of losses and equities recovering from the initial shock.
- On the 17th, the precious metal was recorded trading at Rs.3,123 per gram due to poor domestic demand brought about by the strengthening US dollar and stock markets.
- The last week saw trade relations between China and the US deteriorating with Trump threatening to increase US import rates. This led to the dollar losing significantly and gold rates rebounded to Rs.3,148 per gram on the 24th.
- Thanks to steady investor demand amid the positive overseas trend, gold rates remained untouched at Rs.3,148 per gram for the rest of the week.
- Steady market trends coupled with stable domestic demand led to gold prices in Madhya Pradesh increasing by 0.03% during the course of the month.
Gold Rate Trend in Madhya Pradesh for October 2017 to December 2017 (per gram of 24 karat gold)
|1st day||Rs.3,127 per gram||Rs.3,070 per gram||Rs.3,074 per gram|
|Last day||Rs.3,088 per gram||Rs.3,081 per gram||Rs.3,093 per gram|
|Highest price||Rs.3,135 per gram from 12 to 17 October||Rs.3,115 per gram on 19 and 20 November||Rs.3,094 per gram from 2 to 4 December|
|Lowest price||Rs.3,002 per gram from 23 to 26 October||Rs.3,061 per gram on 6 November||Rs.2,988 per gram on 12 and 13 December|
Gold Rate Trend in Madhya Pradesh for October 2017:
- Gold opened at Rs.3,127 per gram when trading opened in Madhya Pradesh for the final quarter of October.
- Prices seemed to fluctuate considerably during the initial few days as demand from local investors was on the uneven side.
- The 12th recorded the highest gold rate - of Rs.3,135 per gram - as jewellers increased purchases to meet the upcoming festive season demand. This continued till the 17th of the month.
- Another reason for this price hike was because of a weak US dollar, which the investors capitalised on.
- Rates began to fall as the US dollar continued to regain some of its lustre, and gold prices hit Rs.3,002 per gram on the 23rd, making it the lowest figure for the month.
- This continued on till the 26th as demand continued to remain weak.
- Towards the end of the month, however, gold prices improved to end at Rs.3,088 per gram as demand picked up.
- Despite a late flourish, gold price trends recorded a 1.24% decline, which was caused by some poor trades mid-month.
Gold Rate Trend in Madhya Pradesh for November 2017:
- Gold rates in Madhya Pradesh had fallen to Rs.3,070 per gram - a Rs.18 decline from the previous day’s rates.
- Due to poor demand, gold rates fell on a consistent basis, hitting Rs.3,061 per gram - the month’s lowest price - on the 6th of November.
- However, as festivities approached and as the dollar continued to fall, gold prices improved over the latter half of the month.
- The month’s highest price of Rs.3,115 per gram was recorded on the 19th of the month. This continued as demand remained high.
- Prices consolidated as the month drew to a close and the metal traded at Rs.3,088 per gram on the final day of November.
Gold Rate Trend in Madhya Pradesh for December 2017:
- Gold prices improved in the month of December as well despite hitting some significantly low figures during the second week.
- This month’s trading was affected by the latest US tax laws, which brought about a positive change in the US dollar.
- Gold opened at Rs.3,074 per gram on the 1st but surged to Rs.3,094 per gram on the 2nd due to increased demand.
- Rates continued at this rate till the 4th as there was consistent demand for the metal.
- However, as the latest US tax law helped the dollar gain against other currencies.
- Gold recovered from the fall to rise to Rs.3,088 per gram towards the final day of the month. The yellow metal recorded a 0.61% incline this month thanks to steady demand.
Gold Rate Trend in Madhya Pradesh for July 2017 to September 2017 (per gram of 24 karat gold)
|1st day||Rs.3,055 per gram||Rs.2,988 per gram||Rs.3,045 per gram|
|Last day||Rs.2,988 per gram||Rs.3,045 per gram||Rs.3,127 per gram|
|Highest price||Rs.3,055 per gram on 1 and 2 July||Rs.3,045 per gram from 29-31 August||Rs.3,186 per gram from 9-13 September|
|Lowest price||Rs.2,902 per gram on 10 July||Rs.2,978 per gram on 8 August||Rs.3,045 per gram on 1 September|
Gold Rate Trend in Madhya Pradesh for July 2017:
- Trading this month was affected by a weak local demand and a strong US dollar.
- When trading opened for the month, gold was priced at Rs.3,055 per gram, which was the highest rate for the month.
- As the central government of India introduced GST, gold rate in Madhya Pradesh took a significant hit.
- This was because the 3% GST hurt investor sentiments, who decided to refrain from purchasing gold.
- These factors contributed to push gold price in Madhya Pradesh down for most of the month. On the 9th of July, gold rates were at their lowest of Rs.2,981 per gram for the month.
- There were a lot of fluctuations over the latter weeks of the month, with gold sales remaining largely volatile.
- At the time of closing on the 31st of July, gold was priced at Rs.2,988 per gram.
Gold Rate Trend in Madhya Pradesh for August 2017:
- Gold opened at Rs.2,988 per gram when trade exchanges started off on the 1st of August.
- On the 8th, gold prices in Madhya Pradesh hit a monthly low figure of Rs.2,978 per gram, but from this day forward trading figures rose gradually.
- Gold prices remained low for the first few weeks of the month because of a stronger than expected job data from the US markets.
- This led to the US dollar bouncing back and the yellow metal’s demand going down.
- However, investors put the gst woes behind them, which led to gold rates improving. This happened despite the greenback remaining on the sturdier side.
- The 29th saw gold trade at Rs.3,045 per gram - the month’s highest rate in the city.
- The end of the month saw gold rate in Madhya Pradesh increase due to two main reasons - slipping US economy caused by Hurricane Harvey and the festive season in India.
- Price trends improved by 1.90% this month as investor confidence grew and local demand improved, while the US dollar lost some of its sheen.
- News reports showed the emergence of new geopolitical trouble with North Korea strengthening their stand against the United States.
Gold Rate Trend in Madhya Pradesh for September 2017:
- September’s trading opened with gold priced at Rs.3,045 per gram.
- The US economy was setting itself up for another woeful month due to concerns relating to Donald Trump’s administration.
- Prices seemed to surge significantly during the first week as the North Korea - US conflict sent markets crashing.
- Gold rates in Madhya Pradesh went up to as high as Rs.3,186 per gram on the 9th and continued at the same rate till the 12th of September.
- After the tensions simmered down, the US dollar bounced back, pushing gold prices down.
- On the final day of the month, gold was seen trading at Rs.3,127 per gram. Aided by geopolitical concerns, price trends surged by 2.69% over the course of this month.
Gold Rate Trend in Madhya Pradesh for April 2017 to June 2017 (per gram of 24 karat gold)
|1st day||Rs.3,011 per gram||Rs.3,061 per gram||Rs.3,046 per gram|
|Last day||Rs.3,061 per gram||Rs.3,046 per gram||Rs.3,055 per gram|
|Highest price||Rs.3,061 per gram on 29 April and 30 April||Rs.3,061 per gram on 1 May & 2 May May||Rs.3,077 per gram on 7 June and 8 June|
|Lowest price||Rs.3,011 per gram from 1 April to 3 April||Rs.2,956 per gram from 11 May to 16 May||Rs.3,046 per gram on 1 June and 2 June|
Gold Rate Trend in Madhya Pradesh for April 2017
- Compared to other states in India, Madhya Pradesh did fairly well in terms of gold prices for the month of April and June.
- Gold prices opened at Rs.Rs.3,011 per gram on the 01st April 2017.
- Demand was steady for the first three days of the month and the yellow metal continued to trade at the same price till 3rd April 2017, which is the lowest gold rate recorded for the month.
- Gold prices picked up on the 4th of April and traded at Rs. 3,043 per gram as demand from the domestic market was steady.
- Gold prices was stable till the 09th of April before drifting to Rs.3,025 per gram on the 10th of April.
- Gold prices saw a downward curve from the 10th to the 25th of April, when the precious metal was trading at Rs.3,025 per gram constantly.
- Though fluctuations in the U.S dollar was seen abroad, domestic demand helped gold prices remain stable without drifted for a long time.
- The last week of April witnessed an increase in gold prices when it traded at Rs.3,048 on 27th and 28th April.
- Gold closed at Rs.3,061 per gram on 30th April 2017, which is the highest gold rate for the month.
- Overall, gold prices saw an increase of 1.66% for this month in Madhya Pradesh.
Gold Rate Trend in Madhya Pradesh for May 2017
- No changes were noticed on the first day of the month of May as gold continued to trade at Rs.3,061 per gram. This is the highest gold rate recorded in the month of May in this state.
- Gold prices fell on the 03rd of May to Rs.3,020 per gram.
- Gold price further drifted on 05th of May and was sold at Rs.2,996 per gram as the demand was poor ahead of the French presidential elections.
- Prices were low as Gold prices dropped and hit the lowest rate for the month from 11 May to 16 May when it traded at Rs.2,956 per gram.
- Experts believe that the reason for the gold prices to fall was mainly because the international markets were buoyed by the recent victory of Emmanuel Macron in the French presidential election and strong U.S. dollar.
- Though slight increase was noted on the 17th May 2017 when gold traded at Rs.2,973, the month of May has a downward curve in terms of gold prices.
- Gold price in Madhya Pradesh increased during the end of the month due to high demand from local jewellers and closed at Rs.3,046 per gram.
- Overall, gold prices saw a decrease of 0.49% for this month in Madhya Pradesh.
Gold Rate Trend in Madhya Pradesh for June 2017
- No changes notes on the 01st of June as gold continued to trade at Rs.3,046 per gram.
- The first week of June saw an increase in gold prices when the yellow metal rose and traded at Rs.3,059 per gram and Rs.3,077 per gram from 03rd June to 06th June and 07th June to 08th June, respectively.
- Gold prices began to fall in the second week of June as the precious metal traded at Rs.3,053 per gram from the 09th to the 14th of June.
- Gold price in Madhya Pradesh further drifted to Rs.3,033 per gram on the 15th of June and remained the same till the 29th of June as demand from local and international market was poor though U.S dollar rate remained low.
- Gold saw a slight increase on the last day of the month and closed at Rs.3,055 per gram.
- Overall, gold prices saw an increase of 0.29% for this month in Madhya Pradesh.
Gold Rate Trend in Madhya Pradesh 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 Madhya Pradesh for January 2017:
- In Madhya Pradesh, gold prices seemed to be on the higher side in the month of January.
- As more cash made its way into the system after the demonetisation effort, there was scope for gold trading to increase.
- The availability of cash was coupled with the United States’ monetary policy which caused markets to turn volatile - leading to investments in gold.
- On 1st January, gold was trading at Rs.2,884 per gram but due to a brief fall in demand, rates went down to Rs.2,872 per gram on 2nd.
- From then on, however, there was no turning back for gold prices as they kept increasing.
- On 9th, gold prices went up to Rs.2,908 per gram and then as demand picked up they ended up at Rs.2,997 per gram by the end of 19th.
- Rates remained unchanged till the 27th before going down to Rs.2,985 per gram on 28th.
- For the next three days, prices remained stable to end the month at Rs.2,985 per gram.
Gold Rate Trend in Madhya Pradesh for February 2017:
- When compared to other states, gold prices in Madhya Pradesh didn’t fall by too much during February.
- The month picked up were January with gold trading price of Rs.2,985 per gram - which surprisingly, was the lowest gold rate for the month.
- On 2nd, gold prices went up to Rs.3,014 per gram and sustained at the same rate till the 7th as demand stabilised.
- The 8th saw gold prices go up by Rs.20 to reach Rs.3,034, which again carried on till the for the next two days before slumping down to Rs.3,013 per gram on 10th.
- This was the time when news that US Federal Reserve decided to hike the interest rate, which brought rates crashing down.
- However, there was enough domestic demand for the yellow metal to keep prices stable as gold was seen trading at Rs.3,024 per gram on 16th.
- The last week saw demand go up as gold was trading at Rs.3,054 per gram - which happened to be the highest gold rate for the entire month.
- February saw gold rates change at a rate of 2.33%, owing to a sustained domestic demand.
Gold Rate Trend in Madhya Pradesh for March 2017:
- The month of March turned out to be a downer for gold prices as rate began to fall owing to lack of global, and subsequently domestic demand.
- Around this month, the US Federal Reserve chose to increase the interest rate for the second consecutive month which led investors to back off from bullion purchases.
- On 1st of March, gold was trading at Rs.3,054 per gram but as days passed, prices kept slumping down.
- By the end of the 15th, gold rates had hit a new quarterly low of Rs.2,968 per gram.
- However, prices rallied from them on and weathered some massive fluctuations to end the month at Rs.3,011 per gram.
Gold as an investment in Madhya Pradesh
When it comes to a safe investment option, Gold is considered to be one of the least riskiest of trading commodities in any market, whether regional or global. In Madhya Pradesh too the yellow metal is considered an investment option that is lower on risk factors, primarily based on the fact that it is highly affordable and culturally significant as mentioned before. Most families find this metal auspicious such as weddings and Dhanteras season. Also families involved in marriage exchange gold ornaments as a tradition especially for the bride and the other female family members. Investors in this part of the country also find it an integral part of their investment portfolio along with stock market and mutual fund investments. Investors have various options for gold trading through gold contracts and physical gold.
Physical Gold: If you are buying gold in Madhya Pradesh, you have a variety options. This includes buying gold coins from jewelers as well as banks who offer products that are variegated in prices based on individual’s investment requirement and budget. Gold ornaments include chains, anklets, earrings, amulets, nose rings and rings which serve both as an investment along with being an accessory. Gold statues of gods and goddesses are also popular in Madhya Pradesh, with their demand peaking during festivals and religious processions during Akshaya Tritiya and Ganesh chaturthi. Gold in banks are slightly more expensive. But then again you have the advantage of gold that is certified and checked and you can be assured about the purity.
Market Trade: In this state one can purchase gold through the markets, with gold being traded in the National Multi Commodity Exchange, National Commodity and Derivatives Exchange and the Multi Commodity Exchange. This is apt for individuals willing to purchase gold in bulk, with the minimum trading limit being set at 1 kg in general. It's a viable option for people who are well aware of the gold market and all that affects it.
Also Check Gold Prices in the Cities of Madhya Pradesh
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