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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 July 2017 to September 2017 (per gram of 24 karat gold)
|1st day||Rs.3,055 per gram||Rs.2,988 per gram||Rs.3,045 per gram|
|Last day||Rs.2,988 per gram||Rs.3,045 per gram||Rs.3,127 per gram|
|Highest price||Rs.3,055 per gram on 1 & 2 July||Rs.3,045 per gram from 29- 31 August||Rs.3,186 per gram from 9-12 September|
|Lowest price||Rs.2,981 per gram on 9 July||Rs.2,978 per gram on 8 August||Rs.3,045 per gram on 1 September|
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)
|1st day||Rs.3,011 per gram||Rs.3,061 per gram||Rs.3,046 per gram|
|Last day||Rs.3,061 per gram||Rs.3,046 per gram||Rs.3,055 per gram|
|Highest price||Rs.3,061 per gram on 29 April & 30 April||Rs.3,061 per gram on 1 May & 2 May, 2017||Rs.3,077 per gram on 7 June and 8 June, 2017|
|Lowest price||Rs.3,011 per gram from 1 April to 3 April, 2017||Rs.2,956 per gram from 11 May to 16 May, 2017||Rs.3,033 per gram from 15 June to 29 June, 2017|
|Overall Monthly Performance||Incline||Decline||Incline|
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)
|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|
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.
|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%.
|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.
|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
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