Gold Rate in Madhya Pradesh _{Last Updated : 04 Dec 2022}

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Today's Gold Price 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.

October 2022 Gold Rate in Madhya Pradesh

September 2022 Gold Rate in Madhya Pradesh

Trend of Monthly Gold Rate in Madhya Pradesh for September 2022

• The gold price in Madhya Pradesh opened the month of September standing at the rate of Rs.4,964 per gram. Over the month of September, the precious yellow metal witnessed some fluctuations in its price and displayed an overall decline in its performance.
• The highest price for the month was Rs.4,991 on 6 September 2022.
• Gold prices in Madhya Pradesh recorded their lowest for the month on 27 September 2022 when a gram of the 24-karat gold was being traded for Rs.4,859. The overall performance of the yellow metal witnessed a declining trend wherein the percentage change stood at 0.20%.
• The price of gold for the month of September closed at Rs.4,954 in Madhya Pradesh.

Trend of Monthly Gold Rate in Madhya Pradesh for August 2022

Trend of Monthly Gold Rate in Madhya Pradesh for August 2022

• The gold price in Madhya Pradesh opened the month of August standing at the rate of Rs.5,038 per gram. Over the month of August, the precious yellow metal witnessed some fluctuations in its price and displayed an overall incline in its performance.
• The highest price for the month was Rs.5,138 on 14 August and 15 August 2022.
• Gold prices in Madhya Pradesh recorded their lowest for the month on 23 August, 24 August, and 29 August 2022 when a gram of the 24-karat gold was being traded for Rs.5,017. The overall performance of the yellow metal witnessed an inclining trend wherein the percentage change stood at 0.099%.
• The price of gold for the month of August closed at Rs.5,043 in Madhya Pradesh.

Also Check Gold Price in Metro Cities

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.

FAQs on Gold Rate in Madhya Pradesh

1. Can fixed deposit interest rates impact the prices of gold in Madhya Pradesh?

   Yes, any change in the fixed deposit interest rates can impact the prices of gold in Madhya Pradesh.

2. Will the prices of gold in Madhya Pradesh be the same as in the rest of the cities in India?

   No, the prices of gold in Madhya Pradesh will be different from the other cities in India because of local taxes.

3. Is there any difference between 22 carat gold and 24 carat gold?

   Yes, 22 carat gold contains other metals apart from gold, while 24 karat gold contains does not contain any other metals.

4. In which country is the price of gold the cheapest?

   Gold prices are the cheapest in Hong Kong.

5. What are the factors that determine gold prices in Madhya Pradesh?

   Gold prices in Madhya Pradesh are determined by demand, interest rates, and government policies.

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