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Gold Price In Rajahmundry
Rajahmundry is one of the biggest cities in Andhra Pradesh located on the banks of river Godavari river. The city was earlier known as Rajamahendravaram and is well known for its rich historic, economic and cultural backgrounds. It has earned the name ‘Cultural Capital of Andhra Pradesh’ over the years. The city’s museums and the river Godavari acts as the main tourist attraction in the city. The city is well known for its cloth and bullion markets. It houses one of the largest cloth markets in India and has many co-operative handloom houses located all over the city. The city is one of the bullion markets in the country and consists hundreds of shops that trade in not only gold but silver and platinum too.
The rate of gold varies from state to state in India. The price of gold in Rajahmundry depends on the quality of gold and weight of gold. Gold is weighed in grams and the price is decided according to the weight. The gold rate for 22 karat and 24 karat gold varies vastly as the purity of gold differs.
Gold Rate Trend in Rajahmundry for October 2020 to December 2020 (per gram of 24 karat gold)
|1st Day||Rs.5,066 per gram||Rs.5,194 per gram||Rs.5,111 per gram|
|Last Day||Rs.4,998 per gram||Rs.4,876 per gram||Rs.5,331 per gram|
|Highest Price||Rs.5,131 per gram on 12 October||Rs.5,302 per gram on 10 November||Rs.5,373 per gram on 22 December|
|Lowest Price||Rs.4,904 per gram on 20 October||Rs.4,876 per gram on 30 November||Rs.4,860 per gram on 4 December|
Quarterly Gold Rate in Rajahmundry from October 2020 to December 2020:
- The prices of gold in Rajahmundry on 1 October 2020 and 31 October 2020 were at Rs.5,066 per gram and Rs.4,998 per gram, respectively. Overall, gold rates declined by 1.34% over the course of the month in the city. The lowest and highest prices that the yellow metal hit for the month was on 20 October and 12 October and were at Rs.4,904 for a gram and Rs.5,131 per gram, respectively.
- Gold prices in Rajahmundry started off at the rate of Rs.5,194 per gram. Gold rates in Rajahmundry started witnessing a declining trend during the second half of the month and it closed the month at the lowest recorded rate for the month wherein it stood at the rate of Rs.4,876 per gram.
- In December, the rates of the yellow metal had increased by 0.43%. The highest and lowest rates that the yellow metal hit for the month were Rs.5,373 per gram and Rs.4,860 per gram.
Gold Rate Trend in Rajahmundry for July 2020 to September 2020 (per gram of 24 karat gold)
|1st Day||Rs.5,049 per gram||Rs.5,583 per gram||Rs.5,221 per gram|
|Last Day||Rs.5,561 per gram||Rs.5,360 per gram||Rs.5,354 per gram|
|Highest Price||Rs.5,561 per gram on 31 July||Rs.5,914 per gram on 8 August||Rs.5,408 per gram on 21 September|
|Lowest Price||Rs.5,049 per gram from 1 July||Rs.5,359 per gram on 30 August||Rs.5,019 per gram on 26 September|
Quarterly Gold Rate in Rajahmundry from July 2020 to September 2020:
- Gold prices in Rajahmundry for the month of July opened at Rs.5,049 per gram and closed at Rs.5,561 per gram. One of the most important factors behind the rise in the price of the precious metal was the coronavirus outbreak all over the world. The various stimulus measures introduced by central banks across the world also affected gold prices. Overall, the yellow metal witnessed an increase of 10.14% in its prices over the course of the month.
- In August, the overall performance of gold dipped by -3.99%. Gold hit its highest rate for the month on 8 August and was at Rs.5,914 per gram. The lowest recorded rate was Rs.5,359 per gram.
- On 1 September 2020, the price of gold had been Rs.5,221 per gram. Gold prices increased by 2.54% over the course of the month and closed at Rs.5,354 for a gram. The increase in the number of coronavirus cased caused fears of a global recession, which further affected the price of the precious metal.
Gold Rate Trend in Rajahmundry for April 2020 to June 2020 (per gram of 24 karat gold)
|1st Day||Rs.4,150 per gram||Rs.4,670 per gram||Rs.4,917 per gram|
|Last Day||Rs.4,720 per gram||Rs.4,898 per gram||Rs.5,067 per gram|
|Highest Price||Rs.4,720 per gram on 30 April 2020||Rs.4,909 per gram on 26 May and 27 May||Rs.5,067 per gram on 30 June|
|Lowest Price||Rs.4,150 per gram from 1 April to 5 April||Rs.4,621 per gram on 2 May||Rs.4,843 per gram on 9 June|
Quarterly Gold Rate in Rajahmundry from April to June:
- On 1 April 2020, the price of gold in Rajahmundry was at Rs.4,150 per gram. From 1 April 2020 to 5 April 2020, the prices of gold remained the same. On 30 April 2020, the price of gold was at Rs.4,720 per gram. This was also the highest rate that gold hit for the month. Overall, gold prices in Rajahmundry saw a 13.73% increase in its rates for the month.
- Gold opened at the rate of Rs.4,670 per gram for 24 karats in the month of May in Rajahmundry. The last week of the month witnessed the prices going up and down again due to the various political and economic factors which played a direct role.
- The price of the metal opened the month of June at Rs.4,917 per gram and showed an overall declining trend with risk appetite amongst investors increasing. The metal closed the month at Rs.4,483 per gram on 30 June with an overall percentage incline of 3.05%.
Gold Rate Trend in Rajahmundry for January 2020 to March 2020 (per gram of 24 karat gold)
|1st Day||Rs.3,922 per gram||Rs.4,077 per gram||Rs.4,185 per gram|
|Last Day||Rs.4,074 per gram||Rs.4,185 per gram||Rs.4,150 per gram|
|Highest Price||Rs.4,125 per gram on 8 January||Rs.4,305 per gram on 24 February||Rs.4,443 per gram on 6 March|
|Lowest Price||Rs.3,922 per gram on 1 January||Rs.4,030 per gram on 6 February||Rs.4,026 per gram on 19 March|
Quarterly Gold Rate in Rajahmundry from January 2020 to March 2020:
- For January, the price of the metal opened at Rs.3,922 per gram and showed an overall incline in the city of Rajahmundry. With growing tensions between the United States of America and the Middle East and uncertainty over the trade deal between China and the United States of America, the value of the dollar fell, urging investors to shift in the bullion market due to its safe-haven appeal. The price of the metal hit its highest on 8 January at Rs.4,125 per gram and was at its lowest at the beginning of the month at Rs.3,922 per gram. The precious metal’s prices fluctuated heavily in the second and third week of the month. However, with larger number of investors shifting to the bullion market, the price of the metal closed the month at Rs.4,074 per gram on 31 January. Gold showed an overall incline with a percentage change of 3.87.
- In February, gold prices showed an inclining trend as well, however, the percentage change was lesser compared to January. Opening at Rs.4,077 per gram on 1 February, gold prices fluctuated in the first week of the month, hitting its lowest on 6 February at Rs.4,030 per gram. However, the precious metal showed an inclining trend due to increased safe-haven appeal with Coronavirus affecting more than 70,000 people in China, resulting in a lockdown in the country. Due to minimal or no trade happening from the country, investors shifted to the bullion market. After crossing the Rs.4,100 per gram mark on 15 February at Rs.4,120 per gram, the metal hit its highest price of the month in the last week. On 24 February, gold was priced at Rs.4,305 per gram and closed the month at Rs.4,185 per gram resulting in a percentage incline of 2.64.
- The inclining rate of gold for January and February came to a sudden halt in March. Opening at Rs.4,185 per gram on 1 March, the price of the metal increased in the first week of the month with traders waiting for a rate cut from the United States Federal Reserve. With the novel pandemic, COVID-19 affecting people all over the world, most countries imposed a lockdown which resulted in limited or no trade in the bullion market. The price of the metal hit its highest price of the month on 6 March at Rs.4,443 per gram. With larger number of investors selling of their assets to hoard cash and survive in the crisis-hit market, the value of the bullion dipped to a great extent. The price of the metal dipped in the third week of the month, however recovering marginally in the last week. With bullion trading centres in the country shut to prevent the spread of COVID-19, the price of gold held steady for the last week. At the end of the month, gold prices closed the month of March at Rs.4,150 per gram, recording a percentage decline of 0.83.
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Gold investments in Rajahmundry
Gold investment is not only limited to bullions and there are several other ways in which one can make an investment in gold. Listed below are some of the popular types of investment in gold in Rajahmundry.
Gold bullion- Rajahmundry has one of the biggest bullion markets in the country. Gold bullion is one of the most popular types of gold investment as the purity of gold in bullion bars is above 99.5%. The best way of acquiring gold at low price is through bullion bars.
Gold jewelry- Another popular type of investment in gold is gold jewelry. The price of gold jewelry depends on the design and the quality of gold too. There will be a lot of additional charges such as wastage charge, making charge added along with the rate of gold in case of gold jewelry.
- Also Check: Gold Rate in Andhra Pradesh
Also Check Gold Price in NearBy Cities of Rajahmundry
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