Gold Rate In Maharashtra

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Gold Rate in Maharashtra

Maharashtra is one of the most prosperous states in India. The state, which includes cosmopolitan cities such as Mumbai and Pune, boasts of one of the largest demands of gold in the country. Gold rates in Maharashtra for different variants such as bullions and bars reflect the gold rates persisting worldwide. Mumbai, with its location in the western coast of India, has made it an ideal location for imports of gold, which form a significant portion of overall supply of the yellow metal in the country.

Gold is primarily traded in the form of jewellery in Maharashtra, with the rural population accounting for a substantial portion of gold purchases. Jalgaon in Maharashtra is also known as the ‘Golden City’ owing to its quality gold jewellery, which is sold far and wide. Gold rate in Maharashtra is related to gold rates in other parts of the countries, albeit with slight differences.

Gold Rate Trend in Maharashtra for January 2018 to March 2018 (per gram of 24 karat gold)

Factor	January	February	March
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
Trend	Incline	Incline	Incline
Change	0.90%	0.60%	0.03%

Gold Rate Trend in Maharashtra for October 2017 to December 2017 (per gram of 24 karat gold)

Factor	October	November	December
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
Trend	Decline	Incline	Incline
Change	-1.24%	0.35%	0.61%

Gold Rate Trend in Maharashtra for October 2017

• Gold opened on a relatively high note, trading at Rs.3,127 per gram when October began.
• Rates continued at this rate before dropping to Rs.3,104 per gram on the 4th as demand seemed to fall amid poor local demand and a rising US dollar.
• Gold prices in Maharashtra flatlined at Rs.3,084 per gram from 6th to 8th October before increasing to Rs.3,119 per gram on the 9th and rising to the month’s highest figure of Rs.3,135 per gram on the 12th of October.
• The yellow metal’s rates continued at Rs.3,135 per gram till the 17th - owing to festive demand and a weak US dollar - but fell to Rs.3,011 per gram on the 19th.
• Gold rate in Maharashtra hit their lowest for the month when the metal traded at Rs.3,002 per gram from the period between the 23rd and 26th October.
• From this point on, rates improved gradually to end the month at Rs.3,088 per gram.
• Gold rates fell by 1.24% this month due to poor demand from local circles, which was brought about by weak global cues.

Gold Rate Trend in Maharashtra for November 2017:

• Gold rates in Maharashtra saw an improvement in the month of November, thanks to various events involving the US president Donald Trump.
• The yellow metal’s rates had actually tumbled when trading began for November - starting at Rs.3,070 per gram as opposed to Rs.3,088 per gram the previous day.
• But, a weak US dollar performance - brought about by the lukewarm response to Donald Trump’s latest tax structure rejig - pushed gold rates up.
• Gold traded at its highest during the 19th and the 20th when it was priced at Rs.3,115 per gram.
• However, a improvement in US treasury yields gave the US economy a much needed reason for growth.
• By the end of this month, gold rate in Maharashtra had plummeted to go down to Rs.3,081 per gram.
• Despite the reduced demand towards the end of the month, gold rate trends managed to record an increase of 0.35%.

Gold Rate Trend in Maharashtra for December 2017:

• Gold rates in Maharashtra opened strongly when December began. However, rates seemed to be on the decline for most part of the month due to poor demand.
• On the 1st of December, the yellow metal was priced at Rs.3,078 per gram, which then rose to Rs.3,094 per gram - the month’s highest gold rate.
• From this point on, there was consistent decline in prices with prices going down to as low as Rs.2,988 per gram on the 12th of December.
• But, a number of issues concerning the US economy and the Trump Presidency led to a weakening of the US dollar and the subsequent rise in gold prices.
• Gold price trend inclined by 0.61% in Maharashtra in December owing to strong demand.

Gold Rate Trend in Maharashtra for July 2017 to September 2017 (per gram of 24 karat gold)

Factor	July	August	September
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 & 2 July	Rs.3,045 per gram from 29- 31 August	Rs.3,186 per gram from 9-12 September
Lowest price	Rs.2,981 per gram on 9 July	Rs.2,978 per gram on 8 August	Rs.3,045 per gram on 1 September
Trend	Decline	Incline	Incline
Change	-2.19%	1.90%	2.69%

Gold Rate Trend in Maharashtra for July 2017:

• Gold rates in Maharashtra took a significant hit this month due to GST and recorded one of the worst trends since demonetisation.
• On the 1st of July, the yellow metal was priced at Rs.3,055 per gram, which was the highest gold rate this month.
• Prices dropped to Rs.2,981 per gram - the month’s lowest gold rates - as demand fell after the US dollar improved.
• Trading improved over the final few weeks of the month and the metal’s rates held on at a respectable Rs.2,988 per gram when the month ended.
• Price trends fell by 2.19% this month, owing to a poor local trading performance.

Gold Rate Trend in Maharashtra for August 2017:

• A fall in US dollar value and an increase in domestic demand saw gold rates return to the positive in August.
• When the month commenced, gold was priced at Rs.2,988 per gram.
• But, prices fell to Rs.2,978 per gram on the 8th as the US dollar strengthened after a strong market performance.
• Towards the end of the month, gold prices in Maharashtra improved considerably as a direct result of the havoc caused by Hurricane Harry and the near-war scenario between the US and North Korea.
• When the month came to an end, gold rates had surged to close at Rs.3,045 per gram.

Gold Rate Trend in Maharashtra for September 2017:

• Gold opened at Rs.3,045 per gram on the 1st of September.
• Prices went up to a monthly high figure of Rs.3,186 per gram on the 9th as North Korea conducted its most powerful underground nuclear test.
• A result of this was the increased safe-haven investment in India as well as other countries in the world.
• Gold rates fell after the US dollar made a comeback with the metal’s rates closing at a respectable Rs.3,127 per gram on 30th September.
• Despite a rallying US dollar, gold rate trend went up by a massive 2.69% in September.

Gold Rate Trend in Maharashtra for April 2017 to June 2017 (per gram of 24 karat gold)

Factor	April	May	June
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 & 30 April	Rs.3,061 per gram on 1 & 2 May	Rs.3,077 per gram on 7 & 8 June
Lowest price	Rs.3,011 per gram from 1 to 3 April	Rs.2,956 per gram from 11 to 16 May	Rs.3,033 from 15 to 29 June
Trend	Incline	Decline	Incline
Change	1.66%	-0.49%	0.29%

Gold rate trend in Maharashtra for April 2017

• Gold prices in Maharashtra rose as April began, with the metal trading at Rs.3,011 per gram on 1 April, rising to Rs.3,043 per gram from 4-9 April as local demand was high due to favourable market conditions.
• Demand was steady but declined as the month progressed, with gold priced at Rs.3,025 per gram from 10-25 April as industrial demand was stagnant in spite of the fluctuations in the U.S. dollar rate as well as global markets.
• Local demand was poor as domestic markets were steady, prompting lower demand for safe-haven assets like gold.
• Prices recovered as the month was ending, with gold trading at Rs.3,036 per gram on 26 April.
• An increase in overseas demand led to gold trading at Rs.3,048 per gram on 28 April before prices rose to Rs.3,061 per gram on 30 April to register a 1.66% increase in price.

Gold rate trend in Maharashtra for May 2017

• Demand for gold dipped in May as demand was poor ahead of the French presidential elections, with gold prices falling from Rs.3,061 per gram on 1 May to Rs.2,977 per gram on 9 May.
• Prices were low as international markets were buoyed by the recent victory of Emmanuel Macron in the French presidential election, with the U.S. dollar also making gains.
• Gold prices rose slightly to trade at Rs.2,973 per gram on 17 May as demand from local jewellers helped boost prices.
• Gold price in Maharastra soon rose as industrial demand from Asian markets increased, with gold trading at Rs.3,017 per gram from 18-24 May.
• Demand was high as consumers also sought safety in safe-haven assets like gold following fresh allegations of collusion between the Trump campaign and Russia.
• Gold prices rose for the remainder of the month, trading at Rs.3,046 per gram on 31 May.

Gold rate trend in Maharashtra for June 2017

• Gold was priced at Rs.3,046 per gram on 1 June as demand was stable due to a low U.S. dollar rate, though the markets were stable.
• Prices rose to Rs.3,077 per gram on 7 June as demand from local jewellers rose prior to the implementation of GST.
• Markets fluctuated due to conflicting cues from overseas consumers as demand dipped, with gold priced at Rs.3,053 per gram from 9-14 June.
• Local demand was poor as markets were steady, resulting in gold prices falling to Rs.3,033 per gram from 15-29 June.
• International demand was also on the decline in spite of the low U.S dollar rate, as investors waited for news of a possible rate hike.
• Prices rose as the month ended, with gold trading at Rs.3,055 per gram on 30 June.

Gold Rate Trend in Maharashtra for January 2017 to March 2017 (per gram of 24 karat gold)

Factor	January	February	March
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.2,872 on 2nd January	Rs.2,985 per gram on 1st February	Rs.2,968 per gram on 15th of March
Trend	Incline	Incline	Decline
Change	+3.50%	+2.33%	-1.40%

Gold Rate Trend in Maharashtra for January 2017

• The performance of gold over the first month of the new year was fairly satisfactory as prices increased between the first and last day of January.
• Trading in the precious metal rose to a significant extent as the month went on, thanks mostly to an increased amount of cash re-entering the system after demonetisation.
• An increased amount of cash in the system translated to an increase in the investment in gold as industrial investors as well as coin makers showed more demand in the precious metal.
• Not only was more cash available to invest in gold, but the United States’ monetary policy ensured that markets were volatile, thereby increasing the investment in the precious metal.
• Gold was seen trading at Rs.2,884 per gram on the 1st of January but a minor decline in demand saw rates go down to Rs.2,872 per gram on the following day.
• Rs.2,872 per gram on the 2nd of January was the lowest recorded rate of gold in the month.
• Gold prices kept increasing from the 3rd of January and the value of the precious metal was recorded at Rs.2,908 per gram on the 9th of the month.
• Prices hit Rs.2,997 on the 16th of month and stayed unchanged until the 27th, and this was the highest recorded rate in the entire month.
• Prices then stayed unchanged to end the month at Rs.2,985 per gram, marking an overall increase of 3.50% between the first and last day of January.

Gold Rate Trend in Maharashtra for February 2017

• Gold prices during the month of February fluctuated to a considerable extent, but also became stable on certain days in succession, recording an overall increase between the first and last day of the month.
• The price of gold per gram on the 1st of February was recorded at Rs.2,985, which was also the lowest recorded gold rate for the month.
• On the 2nd, gold prices increased to Rs.3,014 per gram and stayed unchanged at the same rate until the 7th as demand found stability amongst investors.
• On the 8th of the month, gold prices went up by Rs.20 to hit Rs.3,034 per gram and stayed unchanged for the following two days before recording a minor slump and falling to Rs.3,013 per gram on the 10th of the month.
• The US Federal Reserve decided to hike the interest rate around this time of the month, so gold prices stayed unchanged at Rs.3013 for a week after which they came crashing down.
• Local demand for gold went up as the month progressed and prices stayed unchanged as the precious metal was seen trading at Rs.3,024 per gram on the 16th of the month.
• Demand for gold picked up significantly in the last week of the month as the precious metal was seen trading at Rs.3,054 per gram, which happened to be the highest recorded gold rate for the month of February.
• The overall change in rates between the start and end of February was an increase of 2.33%, thanks to unchanged demand from domestic investors.

Gold Rate Trend in Maharashtra for March 2017

• Gold prices between the first and last day of the month fell due to a lack of global demand, which was coupled by the subsequent lack of domestic demand.
• The US Federal Reserve decided to increase the interest rate for the second successive month, due to which, investors’ interest in the purchase of bullion went down considerably.
• Gold was trading at Rs.3,054 per gram on the first day of the month, but prices kept reducing as the month progressed.
• Rs.3,054 on the 1st and 2nd of March was the highest recorded rate of the precious metal over the course of the month.
• Gold prices were at their lowest on the 15th of March, when they fell to Rs.2,968 per gram.
• However, a rally in prices from mid-way through the month until the end saw the precious metal ward off fluctuations to end March at Rs.3,011 per gram.

Gold Rate Trend in Maharashtra for October 2016 to December 2016 (per gram of 24 karat gold)

Factor	October	November	December
1st day	Rs.3,249 per gram	Rs.3,168 per gram	Rs.2,938 per gram
Last day	Rs.3,168 per gram	Rs.2,975 per gram	Rs.2,884 per gram
Highest price	Rs.3,249 per gram on 1st & 2nd October	Rs.3,247 per gram on 11th & 12th November	Rs.2,938 per gram from 1st-7th December
Lowest price	Rs.3,133 per gram from 14th-19th October	Rs.2,949 per gram from 25th-27th November	Rs.2,810 per gram from 22nd-26th December
Trend	Decline	Decline	Decline
Change	-2.49%	-6.09%	-1.83%

Gold Rate Trend in Maharashtra for October 2016

• When October began, gold was trading at Rs.3,249 per gram but due to a decrease in demand prices dipped to Rs.3,123 per gram when 9th approached.
• Prices increased on 10th to hit Rs.3,135 per gram and increased again to Rs.3,143 per gram on 13th but fell when trading began on 14th.
• Gold rates picked up on the 20th as they increased to Rs.3,154 per gram as investor sentiments went up.
• The month of October saw gold price trends change by -2.49% during the first month of Q4.

Gold Rate Trend in Maharashtra for November 2016

• November was one of the worst periods for gold rates in the country as a number of global and domestic events influenced the gold industry.
• Between Donald Trump’s appointment as US president and India’s demonetisation of Rs.500 and Rs.1,000 notes, markets around the world saw a significant crash.
• The month began with gold trading at Rs.3,168 per gram which then went up to Rs.3,197 by the 9th.
• On 11th, prices increased again to hit Rs.3,247 per gram, thanks to a sudden increase in domestic demand.
• However, the growth was short lived as prices came crashing down due to the lack of liquid cash and implementation of some stringent rules.
• By the time 24th came around, gold prices had gone down significantly to hit Rs.2,976 and again slumped to Rs.2,949 per gram when trading ended on 25th.
• Maharashtra saw a massive decline of -6.09% with regards to gold prices.

Gold Trend Rate in Maharashtra for December 2016

• Although the cash flow issues were somewhat handled, there was still a vast majority that were struggling to get their hands on newly released currency notes.
• This latest scenario meant that gold purchases couldn’t go as unhindered as expected.
• When trading began on 1st December, gold was selling at Rs.2,938 per gram and fell to hit Rs.2,907 per gram as business began on 8th.
• As new year approached gold prices seemed to improve thanks to the increased sales of bullion.
• The last month of Q4 ended with gold trading at Rs.2,884 per gram, thereby clocking a decline of -1.83%.

Gold Rate Trend in Maharashtra for July 2016 to September 2016 (per gram of 24 karat gold)

Factor	July	August	September
1st day	Rs.3,112 per gram	Rs.3,249 per gram	Rs.3,245 per gram
Last day	Rs.3,249 per gram	Rs.3,225 per gram	Rs.3,279 per gram
Highest price	Rs.3,249 per gram on 31st July	Rs.3,283 per gram on 18th August	Rs.3,285 per gram from 23rd-36th September
Lowest price	Rs.3,112 per gram on 1st July	Rs.3,225 per gram on 31st August	Rs.3,245 per gram on 1st and 2nd September
Trend	Increase in price	Decrease in price	Increase in price
Change	+4.40%	-0.73%	+1.04%

Gold Rate Trend in Maharashtra for July 2016

• The price of gold in Maharashtra was Rs.3,112 per gram on 1st July, with the price rising to Rs.2,182 per gram from 2nd-4th July as demand spiked.
• Prices continued to rise as local demand grew, with gold reaching its monthly high of Rs.3,246 per gram on 6th July.
• Demand dropped domestically, which was also reflected internationally, leading to prices to fall to Rs.3,226 per gram on 11th July.
• Gold prices rose marginally due to market fluctuations, trading at Rs.3,234 per gram on 18th July.
• Prices were stable for the week beginning 25th July, with prices rising to Rs.3,244 per gram by the end of the month.

Gold Rate Trend in Maharashtra for August 2016

• Gold traded at Rs.3,249 per gram on 1st August, with prices falling as the week ended due to fluctuating overseas demand.
• Gold prices were stable for the week beginning 8th August, trading at Rs.3,226 per gram before rising to Rs.3,260 per gram on 10th August due to the stock market faltering.
• Prices remained constant and rose to Rs.2,283 per gram on 18th August as international and domestic markets experienced high demand.
• As markets stabilised, gold prices fell, trading at Rs.3,236 per gram on 27th August to close the month at Rs.3,225 per gram.

Gold Rate Trend in Maharashtra for September 2016

• The price of gold was Rs.3,212 on 1st September due to renewed demand from the domestic market.
• Prices continued to rise, trading at Rs.3,229 per gram on 3rd September and staying constant till 11th September.
• Market instability and fears of poor economic data from the U.S.A. led to demand for gold, pushing prices to Rs.3,246 per gram on 13th September.
• Prices fell to Rs.3,231 per gram on 16th September before increased demand led to prices reaching Rs.3,281 per gram on 22nd September.
• The price fluctuated as markets strengthened, but strong domestic demand led to gold trading at Rs.3,279 per gram on 30th September.

Gold Rate Trend in Maharashtra for April 2016 to June 2016 (per gram of 24 karat gold)

Factor	April	May	June
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 on 31st of May	Rs.3,112 per gram on 30th of June
Highest price	Rs.3,154 per gram on the 30th of April	Rs.3,155 per gram between 7th and 11th of May	Rs.3,192 per gram on 27th of June
Lowest price	Rs.2,989 per gram on the 1st of April	Rs.3,003 per gram on the 30th of May	Rs.3,038 per gram on 1st of June
Trend	Rising	Decline	Rising
Change	+5.52%	-4.31%	+2.43%

Gold Rate Trend in Maharashtra in April 2016

• Gold traded at Rs.2,989 per gram on the 1st of April.
• Gold hit Rs.3,038 per gram on the 12th of April and remained unchanged till the 22nd.
• Gold managed to climb up in the month of April and traded at Rs.3,154 per gram on the 30th of April.

Gold Rate Trend in Maharashtra in May 2016

• Gold opened at Rs.3,154 per gram in the beginning of the month.
• Expectations of a rate hike by the Federal Reserve managed to bring gold prices down in the month of May.
• Gold traded at Rs.3,018 per gram on 31st of May.

Gold Rate Trend in Maharashtra in June 2016

• Gold traded at Rs.3,038 per gram on 1st of June.
• Prices rose steadily over the next three weeks as gold hit the highest at Rs.3,192 per gram on 27th of June.
• Gold closed the month at Rs.3,112 per gram on the 30th of June.

Details of Gold Price in Maharashtra (22 Karat & 24 Karat) - Till August 2015

24-karat gold (1 gram rates): 24-karat gold represents the highest purity of the metal (999 purity). In the past 12 months, gold rates in Maharashtra for 24-karat gold has come down from Rs.2,930 per gram at the start of August 2014 to Rs.2,512 by the end of July 2015. Prices have seen a gradual decline over the year. Prices continued falling from August till October 2014, before rallying to a high of Rs.2,751 on 22nd October ‘14. Prices followed a downward trend for most of last year till rallying to the highest rate yet in 2015 of Rs.2,859 on 22nd January. Since then, gold rate has fallen to Rs.2,617 in March and have more or less remained stable since then, except for a rally in mid-May which brought prices up to Rs.2,791.

22-karat gold: 22-karat gold rates closely follow the trend of 24-karat gold in the state of Maharashtra. Prices, which were at a high of Rs.2,839 at the start of august 2014, declined to Rs.2,411 by the end of July 2015. Since August’14 prices continued on a downward trend for the most part of the year, before somewhat stabilizing in January and February 2015, when prices rallied to a high of Rs.2,760 on 23rd Jan. Prices have continued the downward spiral from March, and saw the lowest levels in 5 years at the end of July at Rs.2,431.

Gold investment avenues in Maharashtra

Gold is popularly sold as bullions, ingots, coins and jewellery in Maharashtra. The state is among the largest consumers of gold, driven by its upwardly mobile urban population and agriculture-dependent rural populace. Gold trends in Maharashtra can be summarized as:

Over-the-counter: Gold is sold in retail in the form of bullions, coins and jewellery in Maharashtra, with Mumbai being the largest market in the state. Gold bullions are sold mostly on international rates and are sold primarily by banks and large private dealers such as Muthoot, Pushpak Bullions and Pentagold etc. Gold jewellery forms the backbone of the gold industry here and is sold in stores such as Joyalukkas, Tanishq, N. Gopaldas, Rose, Tribhovandas bhimji Zaveri, among others. Cities like Jalgaon and Mumbai have been at the forefront of gold sales for a long time now. Gold coins are another gold product sold in the state, with prices generally higher for coins sold by banks due to their assured quality.

Market trade: Gold is available in spot contracts, futures contracts and exchange-traded funds (ETF). The spot contracts are highly volatile gold contracts which can be bought and delivered quickly. Futures contracts for gold can be bought for delivery at a later date, thereby shielding you against market volatility. The gold ETFs are traded on the Mumbai stock exchange (BSE), apart from other international exchanges. These aim to track the price of gold.

Also Check Gold Prices in the Cities of Maharashtra

Gold Rate in Mumbai	Gold Rate in Pune	Gold Rate in Nagpur
Gold Rate in Kolhapur	Gold Rate In Aurangabad	Gold Rate In Thane
Gold Rate In Nashik	Gold Rate In Solapur	Gold Rate In Amravati
Gold Rate In Nanded	Gold Rate In Sangli	Gold Rate In Jalgaon

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