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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 11th March, 2016). This year, the price has steadily increased from Rs.26,680 for 10 grams in January (as on 13th January, 2016), to Rs.30,050 in February (as on 24th 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 11th March, 2016). Over the last week, the price has risen slowly from Rs.Rs.27,540 on the 2nd of March, to Rs.27,770 on the 7th, and Rs.28,480 presently.
Gold Rate Trend in Sangli for October 2016 to December 2016 (per gram of 24 karat gold)
|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|
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)
|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|
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)
|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|
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.
|1st Day||Rs. 2,601 per gram||Rs. 2,775 per gram||Rs. 3,068 per gram|
|Last Day||Rs. 2,775 per gram||Rs. 3,068 per gram||Rs. 2,989 per gram|
|Highest Price||Rs. 2,789 per gram on January 27||Rs. 3,068 per gram on February 29||Rs. 3,093 per gram on March 12|
|Lowest Price||Rs. 2,601 per gram on January 1||Rs. 2,775 per gram on February 1||Rs. 2,989 per gram on March 31|
Gold Rate Trend of Sangli in January 2016
- On the 1st of the month, gold rate traded at Rs. 2,601 per gram.
- There were some fluctuations noticed in the price of gold as the month progressed.
- A rise of 6.68% was seen in the rate of gold at the end of the month, closing at Rs. 2,775 per gram with the highest price being Rs. 2,789 per gram.
Gold Rate Trend of Sangli in February 2016
- At the beginning of the month, gold traded at Rs. 2,775 per gram which was also the lowest for the month.
- Due to a steady demand and wedding season, the rate of gold increased with minor fluctuations.
- Gold rates closed at Rs. 3,068 per gram on the 29th of February which was also the highest for the month.
Gold Rate Trend of Sangli in March 2016
- Although gold traded at Rs. 3,068 per gram at the beginning of the month, there was a steady decline in prices as the month progressed.
- This could be attributed to an ongoing jeweller’s strike or expectations of interest rate hike by U.S Fed.
- A decline of 2.57% was noted in the rate of gold.
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.
- Also Check: Gold Rate in Maharashtra
Also Check Gold Price in NearBy Cities of Sangli
|Gold Rate In Jalgaon||Gold Rate In Kolhapur||Gold Rate In Mumbai||Gold Rate In Nagpur|
|Gold Rate In Pune||Gold Rate In Aurangabad||Gold Rate In Thane||Gold Rate In Nashik|
|Gold Rate In Solapur||Gold Rate In Amravati||Gold Rate In Nanded||Gold Rate In Panaji|
Read more on Gold
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- India's Obsession For Gold
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- Where To Buy Gold In India
- How are Gold Rates Determined?