*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 Price In Nizamabad
Nizamabad is a city located in the north-west of Telangana. With a rich history dating back to ancient times, the city has seen a profusion of rulers. Dating back to the times of Indradatta in the 5th century A.D. to the more recent rule of the Nizams, Nizamabad has flourished in later years as well.
Bullion has always played a key role in the city’s commerce, with jewellers receiving royal patronage. Local residents also have an affinity for the yellow metal, helping regulate the price of the precious commodity. Local bazaars and artisans see a boom in business during the festival season, as the volume of gold being purchased has reduced somewhat in recent years.
Gold Rate Trend in Nizamabad for April 2018 to June 2018 (per gram of 24 karat gold)
|1st day||Rs.3,072 per gram||Rs.3,114 per gram||Rs.3,100 per gram|
|Last day||Rs.3,123 per gram||Rs.3,122 per gram||Rs.3,054 per gram|
|Highest price||Rs.3,153 per gram on 19 April||Rs.3,147 per gram on 14 May||Rs.3,119 per gram on 9 & 10 June|
|Lowest price||Rs.3,064 per gram on 6 April||Rs.3,103 per gram on 2 May||Rs.3,054 per gram on 30 June|
Gold Rate Trend in Nizamabad for April 2018
- Demand for gold was on the increase in Nizamabad as stable demand from local jewellers and industrial units kept prices high.
- The precious metal was priced at Rs.3,072 per gram on 1 April with prices seeing a slight rise due to a weak U.S. Dollar rate.
- The renewal of trade tariff tensions between the United States and China led to the dollar plunging amid short-selling by global investors.
- This, coupled with geopolitical tensions in the United States led to a sharp rise in demand for gold, which reached a monthly high of Rs.3,153 per gram on 19 April.
- Infrequent orders from industrial units led to a slight dip in local gold prices, though international demand remained high.
- The month ended with gold priced at Rs.3,123 per gram on 30 April, to reflect a 1.66% rise in value.
Gold Rate Trend in Nizamabad for May 2018
- Gold rates in Nizamabad for May fluctuated due to conflicting cues from overseas markets, with the metal opening the month at Rs.3,114 per gram.
- Anticipation of a resolution to the North Korean nuclear tensions through the upcoming summit led to a rally by the dollar, which resulted in falling interest in gold.
- Local demand was also on the decline as the rupee fell against the dollar, making imports of the metal more expensive.
- The end of the wedding season and stable equity markets also contributed to low demand for gold.
- Prices were more or less consistent for most of the month, ending the month at Rs.3,122 per gram due to static demand.
Gold Rate Trend in Nizamabad for June 2018
- The impending summit between Donald Trump and Kim Jong Un and relatively stable economic front led to a rally by the dollar.
- Gold was priced at Rs.3,100 per gram on 1 June, with prices on the decline as local demand was static due to high prices.
- The release of positive inflation data from the United States led to equity markets gaining, as the dollar continued to capitalise on favourable market cues.
- Gold prices peaked at Rs.3,119 per gram on 9 & 10 June as apprehension over the summit led to investors rushing to safe-haven investments like gold.
- Prices began to drop as industrial offtake reduced in the aftermath of the summit, as demand for gold plunged.
- As demand remained sluggish, gold ended the month at Rs.3,054 per gram on 30 June to register a drop in value of 1.48%.