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.

Gold Rate Trend in Sangli for April 2019 to June 2019 (per gram of 24 karat gold)

Quarterly gold rate trend in Sangli for April 2019 to June 2019:

• The start of the quarter beginning April saw the gold rate in Sangli priced at Rs.3,266 per gram. Although overseas trends remained positive, local demand for the yellow metal was on a decline.
• On May 4, the price of gold hit its lowest point for the quarter when it traded at Rs.3,213 per gram. During this time, the demand for gold remained suppressed while the US dollar gained value over other currencies.
• From 25 – 27 June, the metal traded at its highest price as the local and industrial demand for the metal surged and global overseas trends remained positive. At this point, gold traded at Rs.3,533 per gram.
• The last week of the quarter saw a marginal decline in the gold price in Sangli as the US and China decided to reignite trade talks. As on 30th June, the price of gold was recorded Rs.3,486 per gram.

Gold Rate Trend in Sangli for January 2019 to March 2019 (per gram of 24 karat gold)

Gold rate trend in Sangli for January 2019:

• The gold rate in Sangli increased at the start of January 2019 as the rupee increased in value in comparison to the dollar.
• Demand for the metal surged globally amongst investors, as many switched to investing in bullion as opposed to stocks and equites. The share mark dipped in value globally and the metal stood at Rs.3,219 per gram on 1st January. It remained the same till 3rd January after which there was a steady increase in the value of gold for the month.
• There was a surge in demand for the metal amongst industrialists and local jewelers throughout the country. Therefore, there was a surge in the price of the metal causing the import business for gold to thrive.
• At the end of the month, the price of gold hit its highest point at Rs.3,411 per gram resulting in a percentage incline of 5.96%.

Gold Rate Trend in Sangli for February 2019:

• On the 1st of February, gold sold at Rs.3,411 per gram as equity markets remained low and bad economic trends prevailed despite the Federal Reserve indicating positive trends.
• Gold rate in Sangli from the 8th to 19th dipped to Rs.3,398 per gram as investor interest in the metal declined and the US dollar dipped rose in comparison to other currencies. This also dampened local and retail demand.
• Trade talks between Sino-US boosted the value of the dollar. However, economic uncertainty caused due to Brexit led to a higher interest in bullion. On 20th February, the price of the metal stood at Rs.3,446 per gram.
• The price of gold in the city then remained steady as local offtake increased. However, as the US dollar gained an edge towards the end of the month, the price of gold declined to Rs.3,439 per gram on 28th February.

Gold rate trend in Sangli for March 2019:

• The month started at a low as the gold rate in Sangli declined from last month as the dollar increased in value. During the same time, equities declined in value as well. The price of gold at the start of March was recorded at Rs.3,439 per gram. This was also the highest price that the yellow metal stood at for the month.
• At the end of the first week of the month, the Euro surpassed the dollar after the ECB (European Central Bank) postponed their interest hike. This stunted potential gain for bullion propelled by darkened economic situations.
• On 22nd March, the value of gold dipped to one of its lowest points as the dollar strengthened and poor economic conditions prevailed. At this point, gold in Sangli was trading at Rs.3,281 per gram.
• The month ended with gold being priced at its lowest when it was priced at Rs.3,266 per gram. The month recorded a declining trend for the month and the percentage decline was recorded at –5.03%.

Gold Rate Trend in Sangli for October 2018 to December 2018 (per gram of 24 karat gold) 

Gold Rate Trend in Sangli for October 2018:

• Boosted by an increase in retail sales due to the festive season, gold prices in Sangli rose significantly in spite of a strong dollar.
• The precious metal traded at Rs.3,140 per gram on 1 October and remained stagnant for a while as the weak rupee capped possible gains from an increase in local demand.
• Jewellers raised order volumes in anticipation of higher sale volumes and spurred on demand, though overseas cues remained weak.
• Prices picked up towards the end of the month as market volatility, brought about by economic slowdown fears, increased the metal’s value which rose to Rs.3,302 per gram on 31 October.

Gold Rate Trend in Sangli for November 2018:

• In a surprising trend, demand for the yellow metal weakened as the stable dollar and static overseas demand dented local interest.
• Gold was priced at Rs.3,302 when trading opened on 1 November but Diwali failed to see a rise in price as the local demand was impacted by declining overseas sales and poor industrial orders.
• Prices fell steadily in spite of volatile equity markets, as investors stayed away from bullion and local demand also dropped due to higher costs associated with a strong dollar.
• Gold rates in Sangli fell to a monthly low of Rs.3,140 per gram when trading ended on 30 November and recorded a 4.90% loss in value during the month.

Gold Rate Trend in Sangli for December 2018:

• As the Brexit crisis dented investor confidence in equity markets, gold rates in Sangli rose on rising retail sales and positive global cues.
• When trading began on 1 December gold traded at Rs.3,131 per gram but recovered on a spurt in local industrial demand.
• The partial U.S. government shutdown severely impacted the dollar and boosted interest in gold overseas, as jewellers spurred local demand and gold traded at Rs.3,234 per gram on 11 December.
• Prices dropped marginally on weak demand from Asia as gold ended the month priced at Rs.3,219 per gram on 31 December to reflect a rise of 2.81% over the course of the month.

Gold Rate Trend in Sangli for July 2018 to September 2018 (per gram of 24 karat gold)

 

Gold Rate Trend in Sangli for July 2018

• Gold opened the month priced at Rs.3,142 per gram, with local demand on the decline due to the falling rupee.
• Prices were high as the month began, with gold trading at a monthly high of Rs.3,148 per gram from 5-11 July.
• As the dollar continued to climb, demand for bullion fell gradually both domestically as well as overseas.
• Gains from gold were capped by the falling rupee, as gold prices in Sangli remained static in spite of rising demand.
• Prices fell steadily, dropping to Rs.3,095 per gram at the end of the month to record a loss of 1.49%.

Gold Rate Trend in Sangli for August 2018

• Gold rates in Sangli were on the rise in August, fuelled by fluctuating equity markets and an uncertain dollar.
• The metal traded at Rs.3,091 per gram on 1 August as both the U.S. and China imposed trade tariffs on each other, which led to steep falls across bourses.
• Local demand was static as the rupee continued to fall against the dollar, though prices held steady due to industrial demand.
• Prices fell to Rs.3,031 per gram on 20 August as the possibility of an interest rate hike reduced interest in gold.
• The end of the month saw a revival in gold’s fortunes, with the metal closing at Rs.3,104 per gram to record a rise of 0.49% during the month.

Gold Rate Trend in Sangli for September 2018

• The month began with gold priced at Rs.3,104 per gram with a steady rise in local retail demand due to the upcoming festive season.
• A sluggish rupee capped gains from bullion, as industrial demand was stagnant due to rising costs associated with a strengthening dollar.
• Gold prices in Sangli were static till the end of the month when volatile stock markets saw a rise in investor interest in bullion and subsequently raised prices.
• The precious metal reached a monthly high of Rs.3,178 per gram on 27 September but was unable to maintain this momentum, closing the month at Rs.3,140 per gram.
• In spite of a sharp decline towards the end of the month, gold prices rose by 1.15% during the course of the month.

Gold Rate Trend in Sangli for April 2018 to June 2018 (per gram of 24 karat gold)

Gold Rate Trend in Sangli for April 2018

• Gold rates in Sangli rose steadily over the month, fuelled by strong industrial demand and prevalent overseas trends.
• Gold opened the month at Rs.3,148 per gram as retail demand continued to be high, though prices fell marginally as the dollar rate rose.
• Trade tensions between the U.S. and China caused some friction on global markets, as investors looked to gold as a safe-haven asset.
• Prices dipped as industrial demand slowed, before a sharp drop in the dollar rate boosted prices and gold reached Rs.3,232 per gram on 26 April.
• Stability across markets and a rising dollar led to gold falling to Rs.3,219 per gram on 30 April.

Gold Rate Trend in Sangli for May 2018

• Gold opened in Sangli at Rs.3,219 per gram as May began, the rates being unchanged due to minimal fluctuations in demand.
• Steady rises in the dollar in spite of geopolitical tensions in the U.S. affected gold demand locally, as retail and industrial demand slowed down.
• Prices reached a monthly high of Rs.3,228 per gram from 8-16 May as tensions ahead of the planned summit between North Korea and the U.S. momentarily boosted demand for gold.
• Favourable U.S. jobs data propped up the dollar, as investors moved away from gold towards equities.
• Anticipation of a possible rate hike ahead of the Fed Reserve meeting led to demand for gold falling sharply, as the metal ended the month at Rs.3,208 per gram.

Gold Rate Trend in Sangli for June 2018

• The anticipation over the U.S.-North Korea summit and a steadily climbing dollar rate led to a poor showing for gold, as the metal opened at Rs.3,208 per gram.
• Prices fell steadily over the course of the month, as industrial demand for the metal also dropped due to rising import costs.
• In spite of the U.S. imposing trade tariffs on Chinese and E.U. goods, the dollar rate was unaffected by market fluctuations as gold continued to fall.
• Strong growth projections also boosted the markets in the U.S., as Brexit negotiations put pressure on European currencies and markets.
• Local demand also fell sharply, as retailers and jewellers put off gold purchases due to the high import cost.
• Due to poor offtake, gold fell to Rs.3,142 per gram as the month ended, as its value fell by 2.05%.

Gold Rate Trend in Sangli for January 2018 to March 2018 (per gram of 24 karat gold)

Gold Rate Trend in Sangli for January 2018

• Gold opened the month priced at Rs.3,093 per gram in Sangli as demand was high due to positive market cues and local demand.
• Local jewellers increased orders to keep up with demand during the wedding season and stabilised prices in spite of fluctuations.
• The dollar fell as internal political tensions led to turbulent equity markets, which led to a rise in demand for safe-haven assets like gold.
• Prices rose to Rs.3,162 per gram on 17 January as industrial demand was on the rise due to favourable market conditions.
• Fluctuations in the dollar rate and a drop in retail demand led to gold prices falling towards the end of the month.
• The month ended with gold priced at Rs.3,121 per gram, registering a 0.90% rise in price over the course of the month.

Gold Rate Trend in Sangli for February 2018

• Demand for the yellow metal was consistent for most of the month as markets fluctuated wildly due to conflicting cues.
• Gold began the month trading at Rs.3,128 per gram as investor interest in the metal was high due to poor returns from equity markets.
• Trade tensions between the United States and China led to fears of a trade war, leading investors to seek safe-haven assets like gold.
• Prices rose to Rs.3,148 per gram initially before dipping on declining demand from local industrial units.
• The dollar made some gains after markets stabilised on positive inflation data from the United States, which led to a drop in demand for gold from Asia.
• Prices fluctuated for most of the month, with gold priced at Rs.3,147 per gram on 28 February to record a 0.60% gain in value during the month.

Gold Rate Trend in Sangli for March 2018

• The precious metal opened the month trading at Rs.3,147 per gram on stable demand from local as well as overseas buyers.
• International trends indicated a slowing down of demand for the yellow metal as investor confidence in equity markets improved.
• Local demand also fell as a strong U.S. Dollar resulted in gold imports becoming more expensive as retail buyers stayed away from large gold purchases.
• Prices fell to a monthly low of Rs.3,123 per gram from 17-23 March as global markets capitalised on positive employment data from the U.S.
• Gold prices rose marginally as the month ended, trading at Rs.3,148 per gram.
• There was a negligible rise in the value of gold due to poor demand, as the metal registered a 0.03% rise.

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

Gold Rate Trend in Sangli for October 2017

• Gold opened on a relatively high note, trading at Rs.3,127 per gram when October began.
• Rates continued at this rate before dropping to Rs.3,104 per gram on the 4th as demand seemed to fall amid poor local demand and a rising US dollar.
• Gold prices in Sangli flatlined at Rs.3,084 per gram from 6th to 8th October before increasing to Rs.3,119 per gram on the 9th and rising to the month’s highest figure of Rs.3,135 per gram on the 12th of October.
• The yellow metal’s rates continued at Rs.3,135 per gram till the 17th - owing to festive demand and a weak US dollar - but fell to Rs.3,011 per gram on the 19th.
• Gold rate in Sangli hit their lowest for the month when the metal traded at Rs.3,002 per gram from the period between the 23rd and 26th October.
• From this point on, rates improved gradually to end the month at Rs.3,088 per gram.
• Some poor demand towards the latter half of the month led to prices declining by 1.24% in Sangli.

Gold Rate Trend in Sangli for November 2017:

• Gold rates in Sangli saw an improvement in the month of November, thanks to various events involving the US president Donald Trump.
• The yellow metal’s rates had actually tumbled when trading began for November - starting at Rs.3,070 per gram as opposed to Rs.3,088 per gram the previous day.
• But, a weak US dollar performance - brought about by the lukewarm response to Donald Trump’s latest tax structure rejig - pushed gold rates up.
• Gold traded at its highest during the 19th and the 20th when it was priced at Rs.3,115 per gram.
• However, a improvement in US treasury yields gave the US economy a much needed reason for growth.
• By the end of this month, gold rate in Sangli had plummeted to go down to Rs.3,081 per gram.
• Despite the reduced demand towards the end of the month, gold rate trends managed to record an increase of 0.35%.

Gold Rate Trend in Sangli for December 2017:

• Gold rates in Sangli opened strongly when December began. However, rates seemed to be on the decline for most part of the month due to poor demand.
• On the 1st of December, the yellow metal was priced at Rs.3,078 per gram, which then rose to Rs.3,094 per gram - the month’s highest gold rate.
• From this point on, there was consistent decline in prices with prices going down to as low as Rs.2,988 per gram on the 12th of December.
• But, a number of issues concerning the US economy and the Trump Presidency led to a weakening of the US dollar and the subsequent rise in gold prices.
• During the second half of the month, gold rates seemed to be on the incline - rising steadily and closing at Rs.3,093 per gram as the month came to an end.
• Gold price trend inclined by 0.61% in Sangli for the last month of 2017, thanks to a rise in demand both globally and domestically.

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

Gold Rate Trend in Sangli for July 2017:

• July’s gold trading in Sangli was hit by a weak demand and a sturdy US dollar.
• When trading opened for the month, gold was priced at Rs.3,055 per gram, which was the highest rate for the month.
• However, implementation of GST adversely affected gold sales in the city. This issue was then compounded by an improving greenback.
• All these factors contributed to push gold rates in Sangli down for most of the month. Gold sales were at their lowest point on the 9th of July, when the metal traded at Rs.2,981 per gram.
• There was a lot of fluctuations over the final weeks of the month, with gold sales remaining largely volatile.
• At the time of closing on the 31st of July, gold was priced at Rs.2,988 per gram.

Gold Rate Trend in Sangli for August 2017:

• Gold opened at Rs.2,988 per gram when trade exchanges started off on the 1st of August.
• On the 8th, gold prices in Sangli hit a monthly low figure of Rs.2,978 per gram, but from this day forward trading figures rose gradually.
• With investors slowly putting the GST woes behind them, gold rates seemed to improve over time.
• The 29th saw gold trade at Rs.3,045 per gram - the month’s highest rate in the city.
• Price trends improved by 1.90% this month as investor confidence grew and local demand improved, while the US dollar lost some of its sheen.

Gold Rate Trend in Sangli for September 2017:

• September’s trading opened with gold priced at Rs.3,045 per gram.
• The US economy was setting itself up for another woeful month due to concerns relating to Donald Trump’s administration.
• Prices seemed to surge significantly during the first week as the North Korea - US conflict sent markets crashing.
• Gold rates in Sangli went up to as high as Rs.3,186 per gram on the 9th and continued at the same rate till the 12th of September.
• After the tensions simmered down, the US dollar bounced back, pushing gold prices down.
• On the final day of the month, gold was seen trading at Rs.3,127 per gram. Aided by geopolitical concerns, price trends surged by 2.69% over the course of this month.

Gold Rate Trend in Sangli from April 2017 to June 2017 (per gram of 24 karat gold)

Gold Rate Trend in Sangli for April 2017:

• In Sangli, when trading began for the month of April, gold was priced at Rs.3,011 per gram.
• But, as US economic data suggested a slowdown, gold - considered a safe haven - saw an increased demand.
• In Sangli, gold rate went up to Rs.3,043 per gram on the 4th of April.
• For the next few days, till the 9th, gold prices remained unchanged but went down to Rs.3,025 per gram on the 10th.
• The next 14 days, i.e., till the 25th, gold prices remained at Rs.3,025 per gram as demand for the metal remained steady in the market.
• Rates went up to Rs.3,036 per gram on the 26th and then went up to Rs.3,048 per gram on the 27th.
• On the 28th, gold prices in Sangli went up to Rs.3,061 per gram and continued at the same rate till the end of the month.
• Due to positive trading figures, gold price trends increased at a rate of 1.66% for the month of April.

Gold Rate Trend in Sangli for May 2017:

• Gold began strongly in Sangli for May with the yellow metal trading at Rs.3,061 per gram.
• However, as US dollar rallied against other currencies and gold got dearer for investors, rates went down by Rs.41 to Rs.3,020 per gram on the 3rd of May.
• On the 5th, gold price in Sangali dropped again - this time by Rs.24 - for gold to trade at Rs.2,996 per gram.
• Though, gold rates didn’t change till the 8th, they went down on the 9th to Rs.2,977 per gram as soon as the demand fell.
• Gold price in Sangli kept falling till the 16th when it hit Rs.2,956 per gram.
• Signs of US dollar slowing down led to gold prices increasing to Rs.2,973 per gram on the 16th and then to Rs.3,017 per gram on the 18th.
• On the 25th, prices went up to Rs.3,025 per gram as weak US economic data led to an increased demand.
• Rates went up again on the penultimate day of the month and traded at Rs.3,046 per gram.
• Gold price trends declined by 0.49% for the month of May as US dollar’s late rally affected investor sentiments in Sangli.

Gold Rate Trend in Sangli for June 2017:

• When June began in Sangli, gold was priced at Rs.3,046 per gram, which went up to Rs.3,059 per gram on the 3rd.
• The high prices at the beginning of the month was attributed to some geopolitical concerns on the international stage.
• As demand gradually increased, gold rates hit Rs.3,077 per gram by the 7th - which as it happened - was the highest gold rate for the month.
• On the 9th, prices slipped by Rs.24 to reach Rs.3,053 per gram as demand simmered down.
• The yellow metal traded at Rs.3,053 per gram till the 14th, before falling to Rs.3,033 per gram on the 15th.
• Due to domestic demand remaining more or less stable, gold prices remained at Rs.3,033 per gram till the penultimate day of the month.
• The last day of June, however, saw gold prices in Sangli increase considerably to reach Rs.3,055 per gram.
• All in all, there was a positive, Rs.13 difference from the first day’s to the last day’s gold rates in Sangli.
• A late flourish saw to it that gold price trends inclined marginally at a rate of 0.29% in June.

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

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 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.