Gold Rate In Rajasthan Today

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Gold Price In Rajasthan

Rajasthan is India’s largest state by area and its name literally translates to the ‘Land of Kings’, and kings in the olden days were always known for their wealth and grandeur amongst other things. Kings aside, the state of Rajasthan accounts for a good amount of gold purchases in the country owing to its rich cultural heritage. With a population of almost 75 million people, the state continues to increase its gold sales on a regular basis.

The primary demand for gold in Rajasthan comes by means of jewellery, gold coins, gold bars, gold funds, gold ETFs and E-Gold. Rajasthan is also home to several festivals, and gold is an auspicious element during these times, which indicates the need of the people to make purchases on a consistent basis.

Gold Rate Trend in Rajasthan for July 2020 to September 2020 (per gram of 24 karat gold)

Quarterly Gold Rate in Rajasthan from July to August:

• Opening the month at Rs.4,229 per gram, the price of the metal remained the same in the first week of the month with no change in its prices. With investors having a higher risk appetite amidst various world leaders announcing an ease of lockdown restrictions, the demand for the metal dipped and gold closed the month on 30 July at Rs.4,761 per gram with an overall percentage incline of 12.5%.
• Opening the month at Rs.4,699 per gram on 1 August, gold prices in Rajasthan showed a marginal overall incline for the month. The price of the precious metal, on 2 August, had dipped to Rs.4,646 per gram, with positive Japanese equities data prompted investors to shift to the stock market with higher risk appetite. The metal recorded an overall monthly incline in prices by 0.59%.
• In Rajasthan, the price of the metal opened the month of September at Rs.4,727 per gram and showed an overall declining trend with risk appetite amongst investors increasing. The metal closed the month at Rs.4,959 per gram on 30 September with an overall percentage incline of 4.9%.

Gold Rate Trend in Rajasthan for April 2020 to June 2020 (per gram of 24 karat gold)

Quarterly Gold Rate in Rajasthan from April to June:

• Opening the month at Rs.4,229 per gram, the price of the metal remained the same in the first week of the month with no change in its prices. With investors having a higher risk appetite amidst various world leaders announcing an ease of lockdown restrictions, the demand for the metal dipped and gold closed the month on 30 April at Rs.4,761 per gram with an overall percentage incline of 12.5%.
• Opening the month at Rs.4,699 per gram on 1 May, gold prices in Rajasthan showed a marginal overall incline for the month. The price of the precious metal, on 2 May, had dipped to Rs.4,646 per gram, with positive Japanese equities data prompted investors to shift to the stock market with higher risk appetite. The metal recorded an overall monthly incline in prices by 0.59%.
• In Rajasthan, the price of the metal opened the month of June at Rs.4,727 per gram and showed an overall declining trend with risk appetite amongst investors increasing. The metal closed the month at Rs.4,959 per gram on 30 June with an overall percentage incline of 4.9%.

Gold Rate Trend in Rajasthan for January 2020 to March 2020 (per gram of 24 karat gold)

Quarterly Gold Rate in Rajasthan from January 2020 to March 2020:

• Opening at Rs.4,023 per gram, the price of gold in Rajasthan for January showed an inclining trend throughout the month. The metal’s prices increased to hit its highest in the month at Rs.4,256 per gram on 9 January with the increasing tensions between the Middle East and the United States of America. With growing speculations on the trade deal between the United States of America and China, the price of the metal showed a gradual rise due to its safe-haven appeal. The lowest price of the month was its opening at price at Rs.4,023 per gram. By the middle of the month, the price of gold had dipped to Rs.4,100 per gram. With the first phase of the trade deal being finalised, investors with a higher risk appetite shifted to the stock market lowering the price of the metal. The rising value of the dollar also played a major role in gold prices plummeting. The price of the metal at the end of the month closed at Rs.4,194 per gram and recorded a percentage incline of 4.25.
• In February, the price of the metal opened at Rs.4,194 per gram and hit its lowest price of the metal on 6 February and 7 February at Rs.4,163 per gram with investors shifting to the stock market with higher risk appetite. However, the price of gold recorded an overall incline for this month with reports coming out of China about a virus which could affect the economy greatly and result in a great loss of life. In the middle of the month, the price of the metal had hit Rs.4,205 per gram and increased in the last two weeks of February. With China going into lockdown to prevent the spread of the virus, the price of the metal increased drastically due to its safe-haven appeal with minimal to no trade coming out of China. Gold prices increased and hit its highest price in the month at Rs.4,425 per gram on 25 February. Closing at Rs.4,379 per gram on 29 February, gold prices recorded an overall incline of 4.41%.
• For the month of March, traders invested in the bullion market faced a major loss with the decline in the metal’s prices. Opening at Rs.4,291 per gram on 1 March, the precious metal hit its highest price of the month at Rs.4,497 per gram on 7 March and held steady until 9 March. This was due to investors awaiting a rate cut by the United States Federal Reserve to flow a certain amount of liquidity in the crisis-hit market. However, in the second week of the month, the price of the metal fluctuated heavily due to mixed trends in the international market. With the dollar value increasing, gold prices were at a low. However, with poor job data from the United States of America limited the losses of the metal. After declining further, the yellow metal recorded its monthly low at Rs.4,153 per gram on 18 March and 19 March. In the last week of March, the price of the metal was steady with no incline or decline since most countries in the world was on lockdown. At the end of the month, gold closed recording a decline of 1.44% at Rs.4,229 per gram on 31 March.

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Gold Investment Avenues in Rajasthan

In addition to its cultural importance, gold is also among the most preferred investment tools in Rajasthan. It can be bought in various forms to suit the investment needs of an individual.

Market trade: ETFs (Exchange Traded Funds), E-Gold and future contracts present some of the best trading opportunities for those who intend on purchasing gold. ETFs are the safest options as they provide healthy returns while allowing the owner to trade it on the Mumbai Stock Exchange. Future contracts are a great option for investors who are looking to stay safe amidst market fluctuations as they can claim possession of the gold on a prearranged date. E-Gold, on the other hand, can be bought and sold via the National Spot Exchange Limited and buyers can choose whether they want to physically own their purchase or just reinvest it at a later date without taking possession.

Over-the-counter: Jewellery, coins and bullions are the most preferred options among gold investors in Rajasthan. Gold coins and bullions are available with several dealers and banks in the state and local prices are often dictated by international rates. Investors usually tend to make purchases from local dealers instead of approaching banks as the prices charged by banks are slightly higher owing to quality assurance. In any case, potential investors in Rajasthan have no shortage of options when it comes to purchasing gold.

Also Check Gold Prices in the Cities of Rajasthan

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