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Gold Price In Rajkot
Rajkot is the 4th largest city in Gujarat. The population is more than 1.2 million and it is the 35th largest urban agglomeration in India. It is the 22nd fastest growing city in the world. The women of Rajkot are extremely fond of gold. They wear large necklaces and pendants for marriages, festivals and other functions. The gold prices keep changing based on the international gold rates.
Gold Rate Trend in Rajkot for October 2020 to December 2020 (per gram of 24 karat gold)
|1st Day||Rs.5,159 per gram||Rs.5,162 per gram||Rs.4,835 per gram|
|Last Day||Rs.5,162 per gram||Rs.4,879 per gram||Rs.5,063 per gram|
|Highest Price||Rs.5,231 per gram on 12 October||Rs.5,205 per gram on 7 November to 9 November||Rs.5,120 per gram on 21 December|
|Lowest Price||Rs.4,914 per gram on 17 October and 18 October||Rs.4,879 per gram on 28 November to 30 November||Rs.4,835 per gram on 1 December|
Quarterly Gold Rate in Rajkot from October 2020 to December 2020:
- In Rajkot, the month of October opened with gold price standing at the rate of Rs.5,159 per gram. Gold price closed the month at the rate of Rs.4,914 per gram. The overall performance of the yellow metal witnessed a declining trend wherein the percentage change stood at 0.05%.
- The price of gold declined throughout the rest of the month due to higher risk appetite amongst investors due to vaccine optimism. The demand for the precious metal gradually declined. At the end of the month, gold price in Rajkot was at its lowest on 28 November at Rs.4,879 per gram and closed the month at the same rate, recording an overall decline of 5.48%.
- In Rajkot, the month of December opened with gold price standing at the rate of Rs.4,835 per gram. Gold price closed the month at the rate of Rs.5,063 per gram. The overall performance of the yellow metal witnessed an inclining trend wherein the percentage change stood at 4.71%.
Gold Rate Trend in Rajkot for July 2020 to September 2020 (per gram of 24 karat gold)
|1st Day||Rs.4,943 per gram||Rs.5,465 per gram||Rs.5,250 per gram|
|Last Day||Rs.5,455 per gram||Rs.5,240 per gram||Rs.5,145 per gram|
|Highest Price||Rs.5,455 per gram on 31 July||Rs.5,712 per gram on 8 August||Rs.5,311 per gram on 17 September|
|Lowest Price||Rs.4,919 per gram on 7 July||Rs.5,221 per gram on 29 August||Rs.5,072 per gram on 29 September|
Quarterly Gold Rate in Rajkot from July 2020 to September 2020:
- The prices of gold in Rajkot for the month of July opened and closed at Rs.4,943 per gram and Rs.5,455 per gram, respectively. The highest rate that the yellow metal had recorded for the month was on the last day. The precious metal had hit its lowest rate for the month on 7 July and stood at the rate of Rs.4,919 for a gram.
- In August, the prices of gold reduced by 4.11%. Gold prices hit its highest rate on 8 August and its lowest rate on 29 August, respectively. On 1 August, the price of gold was standing at Rs.5,465 for a gram. On the last day of the month, the price of gold stood at the rate of Rs.5,240 per gram.
- On 1 September, the price of the yellow metal stood at the rate of Rs.5,250 for a gram. However, by the end of the month, gold prices tumbled by 2.00% and was being traded at the rate of Rs.5,145 per gram.
Gold Rate Trend in Rajkot for April 2020 to June 2020 (per gram of 24 karat gold)
|1st Day||Rs.4,229 per gram||Rs.4,699 per gram||Rs.4,727 per gram|
|Last Day||Rs.4,761 per gram||Rs.4,727 per gram||Rs.4,959 per gram|
|Highest Price||Rs.4,846 per gram on 29 April||Rs.4,883 per gram on 18 and 19 May||Rs.4,959 per gram on 30 June|
|Lowest Price||Rs.4,229 per gram from 1 April to 20 April||Rs.4,646 per gram on 2 May||Rs.4,706 per gram from 8 June to 10 June|
Quarterly Gold Rate in Rajkot from April to June:
- The prices of the yellow metal in Rajkot for the month of April opened at Rs.4,229 per gram. The prices remained stagnant for the first 20 days of the month. However, by the end of the month, gold rates increased by 12.5% and were at Rs.4,761 for a gram. The COVID-19 outbreak all over the world led to an increase in prices.
- In May, the prices of gold saw a small increase of 0.59%. Gold did not see huge gains as several economies relaxed the lockdown restrictions and began reopening their economies. However, the tensions between China and the US over the coronavirus outbreak ensured that the prices of gold saw a small increase.
- On 1 June 2002, the price of gold was at Rs.4,727 per gram. By the end of the month, the prices of gold increased by 4.90% and were at R.4,959 per gram. Investors moved away from the equities market as there was an increase in the number of coronavirus cases. There were fears of a global recession as well during this period.
Gold Rate Trend in Rajkot for January 2020 to March 2020 (per gram of 24 karat gold)
|First Day||Rs.4,023 per gram||Rs.4,194 per gram||Rs.4,291 per gram|
|Last Day||Rs.4,194 per gram||Rs.4,379 per gram||Rs.4,229 per gram|
|Highest Price||Rs.4,256 per gram on 9 January||Rs.4,425 per gram on 25 February||Rs.4,497 per gram on 7, 8, 9, and 12 March|
|Lowest Price||Rs.4,023 per gram on 1 January||Rs.4,163 per gram on 6 and 7 February||Rs.4,153 per gram on 18 and 19 March|
Quarterly Gold Rate in Rajkot from January 2020 to March 2020:
- In the month of January, gold prices opened at the rate of Rs.4,023 per gram in Rajkot which was also the lowest recorded price for the month. Over the month, the price of the yellow metal fluctuated a lot although the trend was mostly inclining. The rate of the precious metal touched the highest price on 9 January owing to the progress made in regard to the US and China trade deal. On the given date, the price of the metal stood at Rs.4,256 per gram. The rates of gold dropped again towards the end of the month and it stood at Rs.4,194 per gram on 31 January 2020. This change was affected after the World Health Organization (WHO) declared the coronavirus (COVID-19) to be a global pandemic. The overall performance of the yellow metal witnessed a rise of 4.25%.
- In Rajkot, the price of gold opened at the rate of Rs.4,194 per gram on 1 February 2020. There was no change in the rate of the precious metal and the rate was similar to the closing rate of the previous month. On the 6th day of the month, the prices dropped to the lowest and stood at Rs.4,163 per gram. With the stock market going down and the American Dollar (USD) hitting a 4-month high, the prices of the yellow metal kept fluctuating till the 14th of February. After reports started suggesting the increase in the spread of COVID-19 virus around the globe, the price of the precious metal went up as people started considering it a haven investment. The deaths due to coronavirus spread outside China was also responsible for the price hike. The price of gold was the highest on 25 February 2020 when it stood at Rs.4,425 per gram. On the last day of the month, the rate of the precious metal stood at Rs.4,379 per gram and it showed an overall performance hike of 4.41%.
- The gold prices in the month of March 2020 opened at a rate of Rs.4,291 per gram in Rajkot. There was a drop of Rs.88 for every gram of the precious metal when compared to the price of the metal on the last closing day, that is on 29 February 2020. For the first week of March, the yellow metal witnessed an upward trend wherein it recovered from a massive drop in price. The investors across the globe were expecting the US Federal Reserve to cut down the rates of interest to tackle the impact of the COVID-19 virus outbreak on the economy. This also resulted in the increase of the price of the metal. The highest rate of the yellow metal was recorded on 7th, 8th, 9th and 12th March when the price stood at the rate of Rs.4,497 per gram. It had hit the lowest rate on 18th and 19th wherein it stood at the rate of Rs.4,153 per gram. During the month, the precious metal witnesses an overall decline of 1.44% in its performance.
Gold investment avenues in Rajkot
People in India buy either gold jewellery or coins and bars or shares as an investment. Gold sales are usually higher during the wedding season and festivals. As gold is treated as a safe haven asset, investors buy gold to protect themselves from the market fluctuations. Gold can be brought in Rajkot in the following ways:
Over the counter purchases:
When people buy gold they prefer to look at the jewellery and try it on before actually buying it. There are a various jewellers in the Rajkot from where people can buy gold. Gold can also be brought in the form of gold coins and bars from the bank as well as the jewellers. When you buy gold from the bank is costlier as you get a purity certificate.
Gold can also be purchased from anywhere now as you have access to E-gold, futures and ETFs. However, trading in gold is subject to risk. ETFs is traded on Bombay Stock Exchange. E-gold trade is done through National Spot Exchange.
- Also Check: Gold Rate in Gujarat
Also Check Gold Price in NearBy Cities of Rajkot
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