Gold Rate In Madhya Pradesh

  • Today's Gold Rate in Madhya Pradesh ( 19 Jan 2021 )

    ₹ 4,726
    Today's Gold Rate (22K) per gram

    Compare 22K & 24K Gold Rate In Madhya Pradesh (Today & Yesterday)

    Today
    Yesterday
    Rate Change
    Standard Gold (22 K) ( 1 gram ) ₹ 4,726 ₹ 4,706 ₹ 20 ↑
    Standard Gold (22 K) ( 8 grams ) ₹ 37,808 ₹ 37,648 ₹ 160 ↑
    Pure Gold (24 K) ( 1 gram ) ₹ 4,962 ₹ 4,941 ₹ 21 ↑
    Pure Gold (24 K) ( 8 grams ) ₹ 39,696 ₹ 39,528 ₹ 168 ↑

    Daily Gold Rates

    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    19 Jan 2021 ₹ 4,726 ₹ 37,808 ₹ 4,962 ₹ 39,696
    18 Jan 2021 ₹ 4,706 ₹ 37,648 ₹ 4,941 ₹ 39,528
    17 Jan 2021 ₹ 4,712 ₹ 37,696 ₹ 4,948 ₹ 39,584
    16 Jan 2021 ₹ 4,712 ₹ 37,696 ₹ 4,948 ₹ 39,584
    15 Jan 2021 ₹ 4,750 ₹ 38,000 ₹ 4,988 ₹ 39,904
    14 Jan 2021 ₹ 4,760 ₹ 38,080 ₹ 4,998 ₹ 39,984
    13 Jan 2021 ₹ 4,775 ₹ 38,200 ₹ 5,014 ₹ 40,112
    12 Jan 2021 ₹ 4,775 ₹ 38,200 ₹ 5,014 ₹ 40,112
    11 Jan 2021 ₹ 4,760 ₹ 38,080 ₹ 4,998 ₹ 39,984
    10 Jan 2021 ₹ 4,798 ₹ 38,384 ₹ 5,038 ₹ 40,304

    Weekly & Monthly Graph of Gold Rate in Madhya Pradesh

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    *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 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 July 2020 to September 2020 (per gram of 24 karat gold)

    Factor July August September
    1st Day Rs.4,904 per gram Rs.5,450 per gram Rs.5,250 per gram
    Last Day Rs.5,397 per gram Rs.5,240 per gram Rs.5,145 per gram
    Highest Price Rs.5,397 per gram on 30 July and 31 July Rs.5,723 per gram on 8 August Rs.5,311 per gram on 17 September
    Lowest Price Rs.4,883 per gram on 4 July, 5 July, and 6 July Rs.5,221 per gram on 29 August Rs.5,072 per gram on 29 September
    Trend Incline Decline Decline
    Change 10.05% -3.85% -2.00%

    Quarterly Gold Rate in Madhya Pradesh from July 2020 to September 2020:

    • Gold prices in Madhya Pradesh in the month of July opened and closed at Rs.4,904 per gram and Rs.5,397 per gram, respectively. The prices of gold were stable on 4 July, 5 July, and 6 July and were at Rs.4,883 for a gram. This was also the lowest rate that the yellow metal hit for the month.
    • In August, gold prices declined by 3.85% over the course of the month. On 8 August 2020, gold hit its highest prices for the month and was at Rs.5,723 for a gram. The yellow metal hit its lowest rate on 29 August and was at Rs.5,221 per gram.
    • On 1 September, the price of gold in the state was at Rs.5,250 per gram. However, gold prices declined by 2.00% by the end of the month and closed at Rs.5,145 for a gram. The highest and lowest rates that the yellow metal hit for the month were Rs.5,311 per gram and Rs.5,072 per gram, respectively.

    Gold Rate Trend in Madhya Pradesh for April 2020 to June 2020 (per gram of 24 karat gold)

    Factor April May June
    1st Day Rs.4,158 per gram Rs.4,699 per gram Rs.4,799 per gram
    Last Day Rs.4,761 per gram Rs.4,799 per gram Rs.4,988 per gram
    Highest Price Rs.4,757 per gram on 26 April to 28 April Rs.4,833 per gram on 18 May and 19 May Rs.4,988 per gram on 30 June
    Lowest Price Rs.4,158 per gram from 1 April to 20 April Rs.4,646 per gram on 2 May Rs.4,767 per gram from 12 June to 15 June
    Trend Incline Incline Incline
    Change 14.50% 2.12% 3.93%

    Quarterly Gold Rate in Madhya Pradesh from April to June:

    • On 1 April 2020, the price of gold in Madhya Pradesh was at Rs.4,158 for a gram and remained steady over the next 20 days. 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 14.50% incline over the course of the month.
    • In the month of May, the prices of gold opened at Rs.4,699 per gram and closed at Rs.4,799 per gram. The tensions between China and the US was the main reason for the prices to increase. Gold saw its prices increase by 2.12% in May.
    • In June, the prices of gold saw an incline of 3.93% as the price of gold opened and closed at Rs.4,799 and Rs.4,988 respectively. The increase in the number of coronavirus cases and the stimulus measures that were introduced ensured that the prices increased.

    Gold Rate Trend in Madhya Pradesh for January 2020 to March 2020 (per gram of 24 karat gold)

    Factor January February March
    1st Day Rs.3,985 per gram Rs.4,179 per gram Rs.4,263 per gram
    Last Day Rs.4,179 per gram Rs.4,358 per gram Rs.4,158 per gram
    Highest Price Rs.4,216 per gram on 9 January Rs.4,410 per gram on 25 February Rs.4,531 per gram on 7, 8, and 9 March
    Lowest Price Rs.3,985 per gram on 1 January Rs.4,132 per gram on 7 February Rs.4,116 per gram on 18 March
    Trend Incline Incline Decline
    Change 4.86% 4.28% -2.46%

    Quarterly Gold Rate in Madhya Pradesh from January 2020 to March 2020:

    • In January, gold prices in Madhya Pradesh opened at Rs.3,985 per gram for 24 karat gold and closed at Rs.4,179 per gram for the same. The lowest price was also on the first day of the month and the highest was a week later at Rs.4,216 per gram for 24 karat on 9 January. The trend was an overall incline of 4.86%. This was driven by several political effects that had an impact on stock markets around the world, which increased the safe-haven appeal of precious metals like gold. The US-China trade war which had been simmering for months seemed to be coming to a head but was soon overshadowed by the US-Iran conflict. News of an epidemic in China, called the coronavirus, shook Chinese markets, all of which contributed to investors turning their backs on equities and looking more towards gold as an investment.
    • In February, gold opened at Rs.4,179 per gram, which was the same as the last day of January. It closed at Rs.4,358, with the highest being in the last week of the month at Rs.4,410 per gram and the lowest being Rs.4,132 which was in the first week of the month. This can be attributed to the coronavirus spreading like wildfire across countries, shooting down stock markets in its wake. Although there was a temporary dip in prices due to China’s central bank injecting an economic boost through a monetary policy and stimulus which boosted the stock markets, this was only temporary as prices of gold went back up as the coronavirus continued got worse, continuing to bring stocks down in its wake. The overall trend this month was on an incline for gold at 4.28%.
    • In March, the trend of gold was completely different from that of the previous two months. There was a steep decline in prices to –2.46% with the lowest price being Rs.4,116 in the third week of March and the highest price being in the first and second weeks of March which was at Rs.4,531. The announcement of the World Health Organisation that the coronavirus was now a pandemic had stoked fears of a global recession which led to a temporary spike in gold prices, but this soon plummeted as investors started liquidating assets and choosing to have cash in hand instead of even equities or safe-haven investments. Physical trading of gold and online trading in bullions also dipped as lockdowns spread in almost every country in the world, further contributing to the dip in prices of gold in March 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.

    Also Check Gold Prices in the Cities of Madhya Pradesh

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    News About Gold Rate in Madhya Pradesh

    • Centre To Propose Lower GST Rate

      The Centre is planning to submit a proposal requesting the government to double the rate of tax on gold under the Goods and Service Tax bracket. This will in return allow the GST council to set low GST rate. GST council will be held this Thursday in which government will point out the benefits of this proposal. The government defence is that the profit from gold consumption will provide enough cushion to set lower GST rate. They further stated that following this rule, GST can be set lower than 20%. This proposal is made based on a previous proposal committee headed by Arvind Subramanian, Chief Economic Advisor last year. It is noteworthy that currently gold and other precious metals are taxed around 1% to 1.6%. Whereas, a major percentage of goods and services are taxed at 27% appropriately.

      19 September, 2016

    • Gold eases off from a fresh 9 day high

      Gold did not sustain over 50 DMA barrier and is now extending its retreat from a 9 day high as a result of a broad US dollar recovery. Gold dropped down by 0.18% at $1,242 after having posted a fresh 9 day high at $1,248.Gold tends to benefit in a low interest rates environment as it is a non-interest paying investment asset. The gold market is now waiting for an update from Fed Chair Yellen about the Federal Reserve rate hike this year.

      7 June 2016

    • Gold Prices Slide Slightly Again

      Gold prices fell slightly on Wednesday amid strong dollar rates. Spot gold decreased by 0.1 percent to USD 1,248.53 per ounce at 0928 GMT, down from the one-week high of USD 1,258. April futures of gold in the US fell by USD 3.60 per ounce to USD 1,250.70.

      The dollar gained around 0.1 percent on Wednesday, dragging gold prices down. Experts expect gold to rally around on the back of expectations of a higher inflation in the US, and negative rates in Japan and Euro zone.

      Silver, in the meanwhile, rose by 0.1 percent to USD 16.95 per ounce, after achieving an 11-month high of USD 17.23.

      21 April 2016

    • For more related news /update on gold price visit: Gold News

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