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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 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 Rate Trend in Madhya Pradesh from October to December 2016 (rates per gram for 24 karat gold)
|1st day||Rs.3,249||Rs.3,168 per gram||Rs.2,938 per gram|
|Last day||Rs.3,168||Rs.2,975 per gram||Rs.2,884 per gram|
|Highest price||Rs.3,249 on 1st and 2nd October||Rs.3,247 per gram on 11th November||Rs.2,938 per gram from 1st to 7th|
|Lowest price||Rs.3,123 from 7th October to 9th October||Rs.2,949 per gram on 25th November||Rs.2,810 per gram on the 22nd and 26th|
Gold Rate Trend in Madhya Pradesh for October 2016
- When October began, gold traded at Rs.3,249 per gram but prices went to Rs.3,123 per gram by the 9th as demand decreased.
- On 10th, prices increased slightly to Rs.3,135 per gram and went up again hit Rs.3,143 per gram on 13th as buyer sentiments seemed to rise.
- Over the last few days gold prices held on at Rs.3,168 per gram, before remaining there till the end of the month on 31st.
- The central Indian state saw a decline of 2.49% with respect to gold rates for the month of October.
Gold Rate Trend in Madhya Pradesh for November 2016
- Demonetisation wreaked havoc on a steady growing gold prices in November.
- The first two weeks saw gold prices gain day-on-day as the results of US presidential election drew near.
- A possible upset for Hillary Clinton was on the cards leading to a crash in global markets, thereby leading to an increase in demand.
- November began with gold selling at Rs.3,168 per gram which later increased to reach Rs.3,197 by 9th as demands began to soar..
- The downward trend began a little after 10th as prices began crashing owing to the lack of cash in the system and also the introduction of PAN Card rule for retail purchases.
- Gold rates seemed to pick up slightly towards end the month to reach Rs.2,975 per gram as cash flow issues seemed to subside.
- Gold price trends changed by -6.09% in Madhya Pradesh for the month of November.
Gold Trend Rate in Madhya Pradesh for December 2016
- When December began, gold was trading at Rs.2,938 per gram and remained more and less the same until 7th.
- Prices fell to Rs.2,907 per gram when business day ended on 8th, as demand saw a sudden decline.
- Prices again witnessed a downward trend as they hit Rs.2,842 per gram on 16th.
- Gold prices decreased to Rs.2,826 per gram on 17th but continued at the same rate till the end of 21st.
- The arrival of new year saw prices increase to end the month at Rs.2,884 per gram.
- The month of December in Madhya Pradesh saw a change of -1.83% with regards to the price trends.
Gold Rate Trend in Madhya Pradesh for July 2016 to September 2016 (per gram of 24 karat gold)
|1st day||Rs.3,112 per gram||Rs.3,249 per gram||Rs.3,212 per gram|
|Last day||Rs.3,249 per gram||Rs.3,225 per gram||Rs.3,279 per gram|
|Highest price||Rs.3,246 per gram on 6th and 7th July||Rs.3,283 per gram on 18th August||Rs.3,285 per gram from 24th to 26th September|
|Lowest price||Rs.3,112 per gram on 1st July||Rs.3,225 per gram on 31st August||Rs.3,212 per gram on 1st and 2nd September|
Gold Rate Trend of Madhya Pradesh in July 2016
- Gold was priced at Rs.3,112 per gram on 1st July.
- Demand was high in domestic and global markets as prices rose consistently during the first two weeks of the month.
- Prices gained stability at Rs.3,223 from the 22nd to the 30th of the month thanks to firming trends.
- The month closed with gold trading at Rs.3,249 per gram on 31st July.
Gold Rate Trend of Madhya Pradesh in August 2016
- The rate of gold per gram on the 1st of August was recorded at Rs.3,249.
- Prices fluctuated as the month progressed, rising and falling on certain days until they gained stability at Rs.3,226 on the 6th and remained unchanged until the 9th.
- Domestic demand was stable as jewellers and retailers increased their offtake for the festive season, leading to a consistent increase in rates until the 18th when they hit Rs.3,283 – the highest recorded rate in August.
- Prices then fluctuated again and the yellow metal closed the month at Rs.3,225 per gram.
Gold Rate Trend of Madhya Pradesh in September 2016
- Gold traded at Rs.3,212 per gram on 1st and 2nd September, which was the lowest rate for this month.
- The highlight for this month was that the interest rate hike by the U.S. Federal Reserve was put on hold as the U.S. presidential elections were too close.
- Prices remained unchanged from the 3rd of September to the 12th at Rs.3,229.
- Prices increased gradually until the 24th when they hit Rs.3,285 per gram and remained stable until the 26th of September.
- Prices remained stable for the last four days of the month and closed September at Rs.3,279 per gram.
Gold Rate Trend in Madhya Pradesh for April 2016 to June 2016 (per gram of 24 karat gold)
|1st day||Rs.2,989 per gram||Rs.3,154 per gram||Rs.3,038 per gram|
|Last day||Rs.3,154 per gram||Rs.3,018 per gram||Rs.3,112 per gram|
|Highest price||Rs.3,154 per gram on April 30th||Rs.3,155 per gram from May 8th to 11th||Rs.3,192 per gram on June 27th and 29th|
|Lowest price||Rs.2,989 per gram from April 1st to 11th||Rs.3,003 per gram on May 30th||Rs.3,015 per gram on 4th of June|
Gold Rate Trend of Madhya Pradesh in April 2016
- Gold prices were recorded at Rs.2,989 per gram on the 1st of April and remained unchanged until the 11th.
- Prices rose to Rs.3,038 on the 12th and remained constant until the 23rd after which a marginal decline on the 24th brought rates down to Rs.3,033 and they remained unchanged until the 28th.
- Consecutive increases on the last two days of April saw prices rise and close the month at Rs.3,154, and the overall rise in prices between the first and last day of April was Rs.165.
Gold Rate Trend of Madhya Pradesh in May 2016
- Gold prices remained unchanged on the first day of May, at Rs.3,154.
- Prices declined consistently during the first week of May, and small increases over the rest of the month were written off by subsequent losses.
- The highest price recorded in May was Rs.3,155 between the 8th and 11th, and the lowest was Rs.3,003 on the 30th of the month.
- The overall decline in prices when comparing the first day of May to the last was only Rs.136.
Gold Rate Trend of Madhya Pradesh in June 2016
- Gold prices were recorded at Rs.3,038 on the 1st of June and fluctuated over the course of the month.
- The highest recorded rate in June was between the 27th and 29th when prices soared to Rs.3,192, while the lowest was recorded on the 4th of the month, at Rs.3,015.
- The overall increase in prices between the first and last day of the month was Rs.74.
|1st day||Rs.2,601 per gram||Rs.2,775 per gram||Rs.3,068 per gram|
|Last day||Rs.2,775 per gram||Rs.3,068 per gram||Rs.2,989 per gram|
|Highest price||Rs.2,789 per gram from January 27th to 29th t||Rs.3,068 per gram from February 27th to 29th||Rs.3,093 per gram from March 12th to 17th|
|Lowest price||Rs.2,601 per gram on January 1st and 2nd||Rs.2,775 per gram on February 1st and 2nd||Rs.2,989 per gram from 22nd to 31st of March|
Gold Rate Trend of Madhya Pradesh in January 2016
- Gold traded at Rs.2,601 per gram on the 1st of January and consistent increases were recorded over the next two weeks.
- Prices fluctuated over the course of the month as minor declines on certain days were written off by subsequent rises on others.
- The highest rate recorded in January was Rs.2,789 between the 27th and 29th, and the lowest was Rs.2,601 on the first two days of the month.
- The overall increase in prices between the first day and the last day of January was Rs.188.
Gold Rate Trend of Madhya Pradesh in February 2016
- Gold prices were recorded at Rs.2,775 per gram on the 1st of February, as there were no changes in rates from the last day of the previous month.
- Prices increased gradually over the course of the month, and although there were slight declines on certain days, they were written off by subsequent gains.
- The highest rate recorded in the month of February was Rs.3,068 on the last three days of the monthh, while the lowest was Rs.2,775 on the 1st and 2nd.
- The overall increase in prices between the first and last day of the month was Rs.293.
Gold Rate Trend of Madhya Pradesh in March 2016
- Gold prices were recorded at Rs.3,068 on the 1st of March, and they remained unchanged until the 11th of the month.
- Prices rose to Rs.3,093 on the 12th and remained stable until the 17th after which a decline of Rs.80 saw prices plunge to Rs.3,033 and remain there until the 21st.
- Prices fell further and settled at Rs.2,989 on the 22nd and remained stable until the end of the month.
- The overall decline in prices between the first and last day of March was just Rs.79.
Details of Gold Price in Madhya Pradesh (22 Karat & 24 Karat) - Till December 2015
Price of 22K gold as of December 19, 2015 is Rs. 2448 in Madhya Pradesh. Price of 24K gold as of December 18, 2015 is Rs. 2614 in Madhya Pradesh. Gold rates in Madhya Pradesh are affected by the exterior issues which include both global and national economic events. Gold rates reached a close of Rs 3,000 per gram in September 2013 and stayed around the Rs 2,700 mark in the later part of 2013 – early 2014, after which the rates began to drop to around Rs 2,500 per gram. Many experts believe that this downwards trend in prices are expected to fall even further.
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
|Gold Rate in Indore||Gold Rate in Bhopal||Gold Rate In Ratlam|
|Gold Rate In Jabalpur|
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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.
19th 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.
7th 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.
21st April 2016
- For more related news /update on gold price visit: Gold News