Gold Rate In Sangli

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The city of Sangli is the capital of the Sangli district in Maharashtra. Sangli is a region that’s famous for its production and knowledge in the trade of turmeric, and it also has a lot of sugar factories. Gold is one of the most popular commodities used in Sangli as a measure of prosperity and wealth, in addition to its widespread use all over the country as the best medium in which to own jewellery for weddings and functions.

Sangli has a huge Ganesha temple, and has, as a result, become one of the most popular destinations for religious pilgrimage in the area. Today, Sangli exists as the urban agglomeration of two cities – Sangli, and Miraj, and is an important cultural and educational hub.

Gold rate in Sangli

The gold rate in any location is subject to variations and fluctuations based on international market trends, the purity of the gold in question, etc. The form of the gold being bought also affects the end price the customer pays – for example, 10 grams of gold would be cheaper (charged at the base rate) in the form of a coin or bullion, but more expensive in the form of jewellery.

24 karat gold: The purest form that gold is available in is the 24 karat variety. This form of gold, while not being ideally suited for the crafting of jewellery, is treated more as an investment and traded accordingly. Currently, 10 grams of 24 karat gold in Sangli costs Rs.30,680 (as on 11^th March, 2016). This year, the price has steadily increased from Rs.26,680 for 10 grams in January (as on 13^th January, 2016), to Rs.30,050 in February (as on 24^th February, 2016) to the present rate of Rs.30,680.

22 karat gold: Gold loses some of its purity when it is mixed with certain “impurities” which make the gold ideal for smithing and jewellery making. The best gold jewellery is found in 22 karat purity, as skilled and master craftsmen prefer this gold for ornamentation and decoration. Currently, 10 grams of 22 karat gold in Sangli costs Rs.28,480 (as on 11^th March, 2016). Over the last week, the price has risen slowly from Rs.Rs.27,540 on the 2^nd of March, to Rs.27,770 on the 7^th, and Rs.28,480 presently.

Gold Rate Trend in Sangli for January 2017 to March 2017 (per gram of 24 karat gold)

Factor	January	February	March
1st day	Rs.2,884 per gram	Rs.2,985 per gram	Rs.3,054 per gram
Last day	Rs.2,985 per gram	Rs.3,054 per gram	Rs.3,011 per gram
Highest price	Rs.2,997 per gram from 16th to 27th January	Rs.3,054 per gram from 24th to 28th February	Rs.3,054 per gram on 1st and 2nd March
Lowest price	Rs.2,884 per gram on 1st & 3rd January	Rs.2,985 per gram on 1st February	Rs.2,968 per gram on 15th of March
Trend	Incline	Incline	Decline
Change	+3.50%	+2.33%	-1.40%

Gold Rate Trend in Sangli for January 2017:

• January in Sangli was very positive for gold rates after going through a tough period in the last quarter of 2016.
• On the 1st of January, gold was priced at Rs.2,884 per gram.
• However, due to a slip in demand on 2nd, gold prices went down to Rs.2,972 per gram.
• From 3rd onwards, gold prices were largely in the positive as US dollar value fell, thereby bringing an increase in demand.
• The 3rd saw gold trading at Rs.2,884 per gram and then increased to reach Rs.2,908 per gram by the 9th.
• As demand kept increasing amidst a volatile US market, gold prices went up to Rs.2,938 per gram on 10th.
• Rates went up to Rs.2,974 per gram on 12th as traders offered no sign of letting off, thanks to rise in demand.
• The third week, however, saw gold rates remain largely unchanged as demand dipped.
• By the end of 20th, gold was priced at Rs.2,997 per gram and remained unchanged till the 27th of March.
• On 28th, gold was trading at Rs.2,985 per gram and remained the same till the end of the month.
• Gold price trends in Sangli went up by 3.50%, giving January a positive start.

Gold Rate Trend in Sangli for February 2017:

• February saw gold prices reach their highest point for the quarter as there was sustained demand for the metal.
• On 1st February, gold was trading at Rs.2,985 per gram, which then increased to Rs.3,014 per gram on 2nd.
• Gold prices were mostly on the sub-Rs.3,000 range as demand seemed to grow despite some bad global events.
• On 8th February, gold rates went up to Rs.3,034 per gram but dropped down to Rs.3,013 per gram on 10th.
• By the end of the 17th, gold prices had been through some fluctuations before ending at Rs.3,034 per gram.
• When February came to an end on the 28th, gold was trading at Rs.3,054 per gram - an increase of Rs.40 from the first day’s prices.
• Price trends saw an inclined growth of 2.33% in February 2017.

Gold Rate Trend in Sangli for March 2017:

• Gold rates fell for much of March as demand also fell.
• The slip in gold rates was due to the interest rate hike brought up by US Federal Reserve.
• As the interest was hiked, value of the US dollar rallied thereby spurring a crash in gold purchases across sectors.
• March began with gold trading at Rs.3,054 per gram - the same rate as February 28th - but decreased to Rs.2,968 per gram by the 15th as demand took a massive hit.
• On 16th, prices went up to Rs.3,012 as there was enough demand to stop the freefall in gold prices.
• Rates remained unchanged till the 22nd before increasing to Rs.3,035 per gram on the 23rd.
• From 23rd to 30th, gold rates remained the same at Rs.3,035 per gram before falling to Rs.3,011 per gram on 31st March.
• Despite an increase in demand over the last few days, gold price trends couldn’t help falling into the negative side.
• Price trends went down by 1.40% in Sangli for the month of March.

Gold Rate Trend in Sangli for October 2016 to December 2016 (per gram of 24 karat gold)

Factor	October	November	December
1st day	Rs.3,249 per gram	Rs.3,168 per gram	Rs.2,938 per gram
Last day	Rs.3,168 per gram	Rs.2,975 per gram	Rs.2,884 per gram
Highest price	Rs.3,249 per gram on 1st & 2nd October	Rs.3,247 per gram on 11th & 12th November	Rs.2,938 per gram from 1st-7th December
Lowest price	Rs.3,133 per gram from 14th-19th October	Rs.2,949 per gram from 25th-27th November	Rs.2,810 per gram from 22nd-26th December
Trend	Decline	Decline	Decline
Change	-2.49%	-6.09%	-1.83%

Gold Rate Trend for Sangli in October 2016

• Gold price in Sangli started on a high with the beginning of the month trading at Rs.3,249 per gram.
• But as demand fell owing to the lack of requirement from global and domestic buyers, gold trading went down to Rs.3,135 per gram as business ended on 10th October.
• Although gold rates recovered a little bit, thanks to marketing conditions, prices fell soon after as demand dipped.
• October ended with gold trading at Rs.3,168 per gram on the 31st October.
• Overall a fall of 2.49% was seen for the month of October.

Gold Rate Trend for Sangli in November 2016

• Gold was seen trading at at Rs.3,168 per gram when November began and climbed further as Donald Trump surprised the world by winning the US elections against Hillary Clinton.
• Demonetisation of Rs.500 and Rs.1,000 notes also played a part in bringing the markets down, which increased the demand yet again for gold to trade at Rs.3,247 per gram on 12th November.
• The sudden surge couldn't be capitalised upon as India faced a cash crunch and also brought in stricter measures to facilitate gold purchase.
• This was the month when submission of PAN card was made mandatory for Rs.2 lakh and more worth of gold purchases.
• When November ended, gold was seen trading at Rs.2,975 per gram.
• All in all, the month of November witnessed gold prices take a massive tumble of -6.09% owing to a number of factors.

Gold Rate Trend for Sangli in December 2016

• The beginning of December wasn’t any better for gold as prices still continued on its free falling trajectory.

• Gold was seen trading at Rs.2,938 per gram on 1st and maintained at the same rate for much of the week.
• The onset of Christmas didn’t seem to increase demands as people decided to spend on festivities rather than on jewellery.
• However, prices seemed to gain at a positive rate from the 27th owing to increased demand as New Year approached.
• At the end of the month and year, gold was trading at Rs..2,884 per gram.
• December recorded the lowest change in gold rates at -1.83%.

Gold Rate Trend in Sangli for July 2016 to September 2016 (per gram of 24 karat gold)

Factor	July	August	September
1st day	Rs.3,112 per gram	Rs.3,249 per gram	Rs.3,212 per gram
Last day	Rs.3,249 per gram	Rs.3,225 per gram	Rs.3,279 per gram
Highest price	Rs.3,249 per gram on 31st July	Rs.3,283 per gram on 18th August	Rs.3,285 per gram from 23rd-26th September
Lowest price	Rs.3,210 per gram on 5th July	Rs.3,225 per gram on 31st August	Rs.3,212 per gram on 1st and 2nd September
Trend	Increase in price	Decrease in price	Increase in price
Change	+4.40%	-0.73%	+2.08%

Gold Rate Trend in Sangli for July 2016

• The price of gold was Rs.3,112 per gram on 1st July, with demand pushing the price to Rs.3,210 per gram on 5th July.
• Market uncertainty coupled with increased domestic demand resulted in prices reaching Rs.3,246 per gram on 9th July, after which demand for gold dropped.
• Markets recovered as Brexit fears eased, leading to gold losing its sheen, trading at Rs.3,223 per gram for the fourth week.
• Gold traded at Rs.3,249 per gram on 31st July.

Gold Rate Trend in Sangli for August 2016

• Gold prices started stable before rising on soaring demand.
• Gold traded at Rs.3,249 per gram on 1st August and reached Rs.3,275 per gram on 5th August.
• Prices fluctuated before stabilising at Rs.3,260 per gram on 10th August, followed by a rise in price to Rs.3,283 per gram on 18th August.
• Demand fell after the middle of the month as markets performed well, resulting in gold trading at Rs.3,225 at the end of the month.

Gold Rate Trend in Sangli for September 2016

• Gold traded at Rs.3,212 per gram on 1st September on weak international demand.
• Prices rose as domestic demand increase due to the festive season, with gold trading at Rs.3,246 per gram on 13th September.
• Demand was constant but market fluctuations led to prices falling marginally before they recovered towards the end of the month.
• Gold traded at Rs.3,285 per gram on 23rd September and closed the month at Rs.3,279 per gram.

Gold Rate Trend in Sangli for April 2016 to June 2016 (per gram of 24 karat gold)

Factor	April	May	June
1st Day	Rs. 2,989 per gram	Rs. 3,154 per gram	Rs.3,038 per gram
Last Day	Rs. 3,154 per gram	Rs. 3,018 per gram	Rs.3,112 per gram
Highest Price	Rs. 3,154 per gram on April 30	Rs. 3,154 per gram on May 20	Rs.3,192 per gram on 27th June
Lowest Price	Rs. 2,989 per gram on April 5	Rs. 3,018 per gram on May 31	Rs.3,015 per gram on 3rd June
Trend	Rise	Decline	Increase in price
Change	+5.52%	-4.31%	+2.43% increase

Gold Rate Trend of Sangli in April 2016

• There were minor fluctuations seen in the month of April.
• The highest rate of gold in the month was on the last day with gold trading at Rs. 3,154 per gram.
• The lowest rate of gold was on the 5th of the month wherein gold was priced at Rs. 2,989 per gram.
• An increase of 5.52% was observed in the rate of gold as the month progressed.

Gold Rate Trend of Sangli in May 2016

• Gold rate traded at Rs. 3,154 per gram on the first day of the month.
• As the month of May progressed, a decline of 4.31% was noted.
• The lowest rate of gold in the entire month was on the last day of the month, at Rs. 3,018 and the highest was on the 20th of May wherein gold rate was Rs. 3,154 per gram.
• The decline could be attributed to an expected increase in interest rate by U.S. Fed and an ongoing strike.

Gold Rate Trend of Sangli in June 2016

• The gold rate in Sangli rose marginally as the month progressed due to the increase in demand domestically and global trends.
• The price rose and then plateaued towards the middle of the month.
• Speculation regarding the upcoming British referendum led to market fluctuations but the price of gold was unaffected.
• With Britain voting to leave the European Union, the markets fell, leading investors to buy gold, pushing its price higher.

Gold investments in Sangli

Regular purchase: Gold can be purchased the old fashioned way (over the counter) from any of Sangli’s many local jewellers and some banks. Gold is mostly purchased here in the form of jewellery for weddings and religious functions, but there are those who invest in the 24 karat variety as a holding investment.

Gold market trading: Gold (while not in its physical form) can be invested in using Gold ETFs and E-gold. There are financial institutions that offer gold ETF investments, and these can be accessed online. The financial benefits of holding gold as an asset can be enjoyed without the danger and risk involved in holding physical gold. The National Spot Exchange enables E-gold investments and trading, while the Mumbai Stock Exchange facilitates gold ETF trading.