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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 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.