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Gold Rate In Raipur
Raipur, the capital of the central Indian state of Chhattisgarh, is a historic city which has been an intrinsic part of Indian history through the ages. The city has a large population of over a million residents and is among the top consumers of gold in the state. Gold rate in Raipur is a good benchmark for analysing the gold rates in Chhattisgarh. The city has a number of jewellers and dealers catering to the rising demand for gold.
Gold is primarily consumed in the form of jewelleries and ornaments in Raipur. The city has a good demand for physical gold preferred by both the urban and rural populace. Gold demand is there in the city and gold rates are affected by these demands.
Trend of Gold Rate in Raipur for November 2016 (rates per gram for 24karat gold)
|1st Day||Rs.3,065 per gram|
|Last Day||Rs.2,942 per gram|
|Highest Price||Rs.3,166 per gram on 9th November|
|Lowest Price||Rs.2,914 per gram on 25th November|
November ‘16 – Week 1 (1st-6th)
- Gold traded at Rs.3,065 per gram on the first day of the month and rose slightly after that.
- The rate of gold on the 3rd of November was Rs.3,115 per gram but declined by Rs.6 the next day.
- However, there was a rise noted in the price of gold on the 5th wherein the rate was Rs.3,119 per gram.
- This rate was sustained until the end of the week and was also the highest rate at which gold traded for week 1.
November ’16- Week 2 (7th-13th)
- Rate of gold on the first day of the second week was a lot less than that of the previous week.
- Gold traded at Rs.3,095 per gram on the 7th and fell by Rs.20 the next day.
- Price of gold was Rs.3,16 on the 9th which was the highest rate at which gold traded for the month of November.
- Prices reduced quite significantly after this, however.The next day, gold was priced at Rs.3,113 per gram.
- Gold rate closed at Rs.3,059 per gram on the last day of week 2.
- This change in gold rates could be attributed to the recent rule regarding demonetization.
- There were a few minor changes in the price of gold during this week.
November ’16- Week 3 (14th-20th)
- Gold rates reduced to Rs.3,054 per gram on the first day of the third week of November.
- There was a slight increase noted in the price of gold the next day wherein the price was Rs.3,065 per gram.
- On November 16th, gold rate plunged even further to be priced at Rs.3,061 per gram.
- However gold rates reduced again after this.
- As the week progressed, the price of gold continued to fluctuate.
- On the last day of the week, gold traded at Rs.3,986 per gram.
November ’16- Week 4 (21st-27th)
- Gold rates continued to be low until the 22nd of November after which a minor increase in gold prices was noted. However, after the 23rd, price of gold plunged further and continued to decline.
- The lowest rate at which gold traded during the week was Rs.2,914 on 25th. This was also the lowest rate of gold for the month of November.
- There were some variations that were noticed during week 4 of November.
November ‘16 – Week 5 (28th-30th)
- Gold was priced at Rs.2,951 per gram on 28th of November.
- This rate was sustained until the end of the week.
- There was a decline of 4.01% in the rate of gold as compared to the beginning of the month.
- Gold rate closed at Rs.2,942 per gram.
|1st Day||Rs.3,152 per gram|
|Last Day||Rs.3,067 per gram|
|Highest Price||Rs.3,152 per gram on 1st|
|Lowest Price||Rs.3,021 per gram on 15th and 16th October|
October 2016 – Week 1 and 2 (1st to 9th)
- Gold prices jumped on the slide down as market trends were unfavourable.
- Gold traded at Rs.3,152 per gram on 1st and 2nd October.
- Demand was dull in the domestic market.
- The U.S. Federal Reserve was confident of the interest rate hike soon which resulted in investors moving away to the sidelines.
- By the end of the week, gold was trading at Rs.3,026 per gram.
October 2016 – Week 3 (10th to 16th)
- At the start of the week, gold traded at Rs.3,034 per gram.
- Festive shopping started early this year as gold rates were low.
- By 13th October, gold rates touched Rs.3,040 per gram, the highest for this week.
- Gold rates fell again as prospects of the Fed rate hike grew strong.
- By the end of the week, gold rates dropped to Rs.3,021 per gram.
October 2016 – Week 4 (17th to 23rd)
- The lowest price for this month was recorded on 17th October with gold trading at Rs.3,018 per gram.
- Demand picked up this week on account of the upcoming wedding season.
- Global market trends firmed up and gold prices rose to Rs.3,046 per gram on 22nd and 23rd October.
October 2016 – Week 5 (24th to 31st)
- On 24th October, gold traded at Rs.3,040 per gram, the lowest price for this week.
- The dollar was weak which resulted in a favourable market for gold.
- With the festive season in full swing, domestic demand was on the rise.
- Gold prices increased to Rs.3,067 from 29th to 31st October which was the highest price for this week.
- There was a decline of 2.69% this week.
|1st Day||Rs.3,132 per gram|
|Last Day||Rs.3,169 per gram|
|Highest Price||Rs.3,195 on 8th September|
|Lowest Price||Rs.3,132 on 1st September|
September '16 - Week 1 (1st to 4th)
- Gold traded at Rs.3,132 per gram at the start of this week. This was the lowest price recorded for this week.
- Prices started to rise as U.S. economic data wasn’t strong enough to vet an interest rate hike by the U.S. Federal Reserve.8
- The demand for the yellow metal surged as its safe-haven appeal shone was again.
- Gold prices climbed to Rs.3,150 per gram by the end of the week.
September '16 - Week 2 (5th to 11th)
- Demand for gold soared this week in the domestic and global market.
- Gold reached its highest price for the month on 8th September, trading at Rs.3,195 per gram.
- Demand dropped again on the back of hawkish statements from the U.S. Federal Reserve about the possibility of a rate hike this month.
- Gold traded at Rs.3,181 per gram on 11th September.
September '16 - Week 3 (12th to 18th)
- As the uncertainty of a Fed rate hike loomed over the market, sentiments turned bearish.
- Gold prices started to drop this week.
- Gold traded at Rs.3,171 per gram on 12th September.
- As demand was slow, gold dropped to Rs.3,146 per gram on 18th September.
September '16 - Week 4 (19th to 25th)
- Gold traded at Rs. 3,160 per gram on 19th September.
- The U.S. Federal Reserve put the rate hike off till December as the presidential elections of the U.S. draw nearer.
- The market outlook was bullish and gold prices began to climb again.
- Gold had gained Rs.26 by the end of the week and traded at Rs.3,186 per gram on 25th September.
September '16 - Week 5 (26th to 30th)
- Gold traded at Rs.3,185 per gram on 26th September.
- The dollar grew strong this week turning the market sentiments bearish.
- Muted demand in the domestic market led to gold prices dropping.
- The week closed with gold trading at Rs.3,169 per gram on 30th September.
Gold buying patterns in Raipur
Gold is sold in its physical form as well as a traded variety in Raipur.
Physical gold: Jewelleries and ornaments are quite popular among the residents of Raipur. The city is host to the branches of most of the major jewellers in India and has a well-established market that caters to the ever-increasing demand for gold. Apart from these, other popular forms include coins and bullions, with bullions being sold for higher quantities at cheaper rates as compared to other physical forms of gold.
Traded gold: The people of Raipur also invest in gold through the spot and futures contracts available at market rates. Gold bought at such platforms is usually delivered in a few days or on a specified date in the future.
- Also Check:Gold Rate in Chhattisgarh
Also Check Gold Price in NearBy Cities of Raipur
|Gold Rate in Ranchi||Gold Rate in Bhopal||Gold Rate In Bhilai|
|Gold Rate in Indore||Gold Rate in Nagpur||Gold Rate In Ratlam|
|Gold Rate In Jabalpur||Gold Rate In Jamshedpur|
- Also Check:Gold Price Trend In Raipur
Read more on Gold
- Why Investing In Gold Is A Golden Opportunity
- What Do the Markings on Gold Mean?
- Hallmark, KDM and 916 Varieties of Gold
- Gold Rates Trend in 2015
- Significance of Gold in Indian Culture
News About Gold rate in Raipur
Gold Growth is Stunted
Gold rates fell by a slight margin last week as investors cashed in their gains after the metal achieved its highest growth in the past 30 years. But fears of the investors have not been allayed as the US employment increased and naturally the Federal Reserve would deem it fit to increase the tax on the yellow metal.
Prices went up by 16 percent in March as people thought a tax hike wouldn’t be done after all. China and India have been more conservative about buying more gold due to the concerns that have been floating around since the last year. In addition to that, the gold tax imposed in India has made matters even more dire.
4th April 2016
Gold Rates Increase Yet Again
Since Wednesday, there has been an increase noted in the rates of gold. While in India the prices increased by INR 400 per troy ounce, they increased by 18 dollars in the international market.
Per troy ounce gold now has a price of INR 49550 and 10 grams of gold is right now at INR 42471.
31st March 2016
Gold to Fall Even More in the Near Future
Gold prices have been on a decline since the comments from US Federal Reserve officials. The comments apparently hinted that gold will have a lesser value as tax rates are hiked on the yellow metal for at least twice this year. That in turn has strengthened the dollar and made commercial gold more accessible to people who are fans of the yellow metal.
24 carat gold in Dubai retailed at 147.25 dirhams on Sunday while 22k, 21k and 18k variants of the metal were on the market at 138.50 dirhams, 132 dirhams and 113.25 dirhams respectively. Spot gold on Thursday had a 0.6 percent decline. Seeing the constant underperformance of the metal, more than half of the retails opine that gold still has its worse days ahead.
28th March 2016
Gold Futures Surge by 0.89%
Gold prices for April delivery went up by 0.89 percent at the Multi Commodity Exchange, boosted by the surges for spot gold and gold futures at COMEX.
Gold for June delivery is also higher by 0.84 percent at Rs. 29,478. Speculative trading had led to a decline in gold futures prices earlier in the day.
International spot gold prices rose by 0.67 percent to USD 1,252.04 per ounce, while April futures at COMEX traded higher by 0.80 percent at USD 1,254 per ounce.
The Federal Reserve’s move to increase rates next month is likely to bear negatively on the precious metal, analysts say.
23rd March 2016
Gold Prices on the Decline Again
Gold prices fell for the second session in a row on Monday. Gold for April delivery decreased by $10 (0.8 percent) to $1,244.20 an ounce on the Comex division of the New York Mercantile Exchange.
After touching 13-month high prices earlier in March, gold prices have fallen in six of the last seven trading sessions. In London, gold decreased by $14.40 (1.1 percent) to $1,252.10 an ounce.
Meanwhile, silver for May delivery gained 0.2 percent (3.6 cents) to $15.847 an ounce. Last week, the metal had climbed by 1.3 percent.
22nd March 2016
Industry demand of gold increases
With the price of gold increasing after almost 22 months, the listing of jewelry companies increased from 4% to 8%. The yellow metal traded at Rs 30,075 per 10 grams on Tuesday. This was recorded the highest since March 18, 2014 when it closed at Rs 30,205. With India being the world's biggest importer of gold, at an average of a 1,000 tonnes a year, the generic gold contract was priced as per the cueson commodity exchange. The Indian Government is also planning to substitute the 1% excise tax with higher import duty or increased value-added tax, as per industry demands.
9th March 2016
Jewellers nationwide strike reaches day 6
National Strike of All India Jewellers, was called in order to force the government to overturn the decision to charge 1% Excise Duty on manufacturing of Gold & Diamond. The Confederation of All India ( CAIT ) has supported the strike, they have said that levy of excise duty is not the only way or solution, talks between the Trade & the Government can find better solutions. The strike has costed the business of almost Rs. 6000 crore and revenue loss of Rs. 200 crore in the form of custom duties, and almost Rs.48 crores as VAT tax all over India.
8th March 2016
Dollar rises along with equities, forcing gold to drop
Earlier on Wednesday, the dollar strengthened and the equities markets also gained with the US data speculations being rekindled. The Federal Reserve may still have rate hikes this year. Owing to these reason gold dropped by 0.1% the price stood at $1,229.06 for an ounce. But, gold ETFs for April delivery stayed the same at $1,230.80 for an ounce. The price of bullion increased this year already by more than 15%, and proving to a safe haven for investors.
3rd March 2016
Chhattisgarh auctioned it’s first gold mine
The first gold mine in Chhattisgarh was auctioned off to the Vedanta Private Limited, who bid the highest price of Rs. 74,712 per troy ounce. Each troy ounce is equivalent to 31.10 grams. Vedanta Private Limited were the highest bidders where they bid 12.55% of the Indian Bureau of Mining. The gold mine has a reserve of 2700 kg, and will earn Chhattisgarh Rs. 81.40 crores and a royalty of Rs. 24.70 crores.
29th February 2016
Gold gains were limited as stocks markets rebounded
Since last Friday, the prices of gold have not changed much $1, 230 per ounce. The equities and oil prices stock and turn for the better, and not letting the gold price go higher. Spot gold after gaining a tiny 0.4% in the earlier session, but remained $1,235.38 for an ounce. On Thursday, the prices of crude oil and the securities markets globally saw a hike for the better.
26th February 2016
- For more related news /update on gold price visit: Gold News