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Gold price in Solapur
Solapur is south eastern city of Maharashtra. It is the 43rd largest agglomeration and the 4th largest district in Maharashtra. It is also the 43rd largest populated district of India. The gold consumption is also high due to the high population. The demand for gold increases during the festivals and wedding season. The gold rate depends on the international gold rate.
Gold Rate Trend in Solapur for October 2018 to December 2018 (per gram of 24 karat gold)
|1st day||Rs.3,140 per gram||Rs.3,302 per gram||Rs.3,131 per gram|
|Last day||Rs.3,302 per gram||Rs.3,140 per gram||Rs.3,219 per gram|
|Highest price||Rs.3,302 per gram on 30 and 31 October||Rs.3,302 per gram on 1 November||Rs.3,234 per gram from 11 to 17 December|
|Lowest price||Rs.3,140 per gram on 1 October||Rs.3,140 per gram on 30 November||Rs.3,131 per gram on 1 December|
Gold Rate Trend in Solapur for October 2018:
- There was a gradual rise in gold rates in Solapur as positive market cues and rising local demand kept prices stable after opening at Rs.3,140 per gram on 1 October.
- Demand vagaries and declining demand from Asia dented gold gains but growing retail sales kept prices from sliding.
- Gold prices rose as jewellers increased orders ahead of the festive and wedding seasons, though a poor rupee rate restricted sharp rises in the price.
- Overseas interest rose as markets reacted negatively to the possibility of a slowdown in the Chinese economy and the economic impact of Brexit.
- The end of the month saw a rise in positive sentiment towards bullion as gold traded at Rs.3,302 per gram on 31 October to record a 5.15% rise in value.
Gold Rate Trend in Solapur for November 2018:
- Gold opened strongly at Rs.3,302 per gram on 1 November but declining retail demand and poor overseas cues led to a steep fall in the metal’s performance during the month.
- The metal failed to recover during Diwali as jewellers and retail buyers reduced offtake due to the dollar rising against the rupee, which increased local prices sharply.
- Market volatility also failed to entice investors who reduced bullion investments on rumours of possible interest rate hikes.
- Plunging demand continued till the end of the month, when gold traded at Rs.3,140 per gram on 30 November to record a whopping 4.90% decline in price over the course of the month.
Gold Rate Trend in Solapur for December 2018:
- Rising retail demand and a more favourable rupee rate bolstered gold prices in Solapur as the metal traded at Rs.3,131 per gram on 1 December.
- Though industrial demand from overseas continued to be muted local jewellers raised orders and maintained prices in spite of fluctuations in overall order volumes.
- Declining interest from China momentarily led to a reduction in gold prices but rising investor interest due to volatile equity markets resulted in prices continuing to rise.
- Prices rose steadily as the government shutdown in the U.S. led to higher interest in the metal, with gold ending the month at Rs.3,219 per gram on 31 December.
Gold Rate Trend in Solapur for July 2018 to September 2018 (per gram of 24 karat gold)
|1st day||Rs.3,142 per gram||Rs.3,091 per gram||Rs.3,104 per gram|
|Last day||Rs.3,095 per gram||Rs.3,104 per gram||Rs.3,140 per gram|
|Highest price||Rs.3,148 per gram from 5 - 11 July||Rs.3,104 per gram on 31 August||Rs.3,178 per gram on 27 and 28 September|
|Lowest price||Rs.3,082 per gram from 19 - 24 July||Rs.3,031 per gram on 20 - 21 August||Rs.3,104 per gram on 1 September|
Gold Rate Trend in Solapur for July 2018
- Gold prices in Solapur were on the rise as the month began, with the yellow metal trading at Rs.3,142 per gram.
- Fluctuating dollar rates and volatile stock markets resulted in increased demand for gold, as prices climbed to a monthly high of Rs.3,148 per gram from 5-11 July.
- As the dollar recovered and equities stabilised, overall demand for the yellow metal began to drop, reaching a low of Rs.3,082 per gram on 19 July.
- Prices recovered marginally as the month ended, with gold priced at Rs.3,095 per gram on 31 July to record a loss of 1.49%.
Gold Rate Trend in Solapur for August 2018
- The month began with gold trading at Rs.3,091 per gram as the rising dollar and bullish stock markets reduced investor demand for bullion.
- Prices were more or less static for a few weeks, with prices fluctuating due to declining local demand.
- Gold rates in Solapur fell to Rs.3,031 per gram on 20 August as the dollar rallied and local demand dropped sharply due to the falling rupee.
- The trade dispute between the U.S. and China also affected bullion demand, with demand for gold rising steadily.
- The end of the month saw gold prices rise to Rs.3,104 per gram, with the metal’s value rising by 0.42%.
Gold Rate Trend in Solapur for September 2018
- Gold was priced at Rs.3,104 per gram when trading began, rising steadily as overseas demand kept pace with a rise in local retail orders.
- Markets were volatile as Brexit negotiations and the U.S. tariffs on Chinese goods affected industrial output, leading to increased interest in bullion as a safe-haven asset.
- Gold prices in Solapur reached a monthly high of Rs.3,178 per gram on 27 and 28 September, fuelled by a rise in industrial demand due to a stagnant dollar rate.
- Local demand fell marginally towards the end of the month as the rupee continued to weaken against the dollar, resulting in gold trading at Rs.3,140 per gram on 30 September.
Gold Rate Trend in Solapur for April 2018 to June 2018 (per gram of 24 karat gold)
|1st day||Rs.3,148 per gram||Rs.3,219 per gram||Rs.3,208 per gram|
|Last day||Rs.3,219 per gram||Rs.3,208 per gram||Rs.3,142 per gram|
|Highest price||Rs.3,232 per gram on 26 and 27 April||Rs.3,228 per gram from 8 - 16 and 25 - 30 May||Rs.3,208 per gram from 1-4 June|
|Lowest price||Rs.3,148 per gram from 1 April to 12 April||Rs.3,205 per gram from 17 to 24 May||Rs.3,142 per gram on 30 June|
Gold Rate Trend in Solapur for April 2018
- The price of gold rose during the month thanks to stable demand and a fluctuating dollar rate, which fuelled demand for safe-haven assets like bullion.
- The precious metal opened the month at Rs.3,148 per gram as retail demand was high thanks to favourable overseas trends and a low dollar rate.
- The possibility of a trade war between China and the U.S. pressured equity markets, though gold gains were capped due to the falling rupee.
- Demand from Asia was muted as analysts were wary of a possible interest rate hike, which would make gold more expensive for non-dollar buyers.
- Prices rose as the month ended, with gold priced at Rs.3,219 per gram.
Gold Rate Trend in Solapur for May 2018
- Gold prices in Solapur slowed some signs of slowing down as the dollar recovered and retail demand fell.
- The precious metal opened at Rs.3,219 per gram as local demand propped up prices initially, as overseas demand slowed down due to conflicting cues.
- Industrial demand dropped marginally as the dollar recovered, making imports more expensive as overseas interest in gold also fell due to strengthening equity markets.
- Gold prices rose to a monthly high of Rs.3,224 per gram towards the end of the month as uncertainty over the proposed meeting between the U.S. and North Korea led to markets falling.
- Prices dipped as the month ended, with gold trading at Rs.3,208 per gram on declining demand universally.
Gold Rate Trend in Solapur for June 2018
- There was no change in the price of gold as June began in Solapur as the metal continued to trade at Rs.3,208 per gram.
- The summit between the U.S. and North Korean leaders was touted a success, which boosted the dollar and equity markets, as investors stayed away from bullion.
- Local demand was struggling as retailers reduced purchases due to the high cost, even as industries reduced offtake.
- The projected rise of the dollar and the Fed Reserve indication of new rate hikes further dented gold’s prospects, as the metal fell heavily.
- Prices continued to dip for the rest of the month as gold rates plunged to Rs.3,142 per gram on 30 June to record a 2.05% drop in value.
Gold Rate Trend in Solapur for January 2018 to March 2018 (per gram of 24 karat gold)
|1st day||Rs.3,093 per gram||Rs.3,128 per gram||Rs.3,147 per gram|
|Last day||Rs.3,121 per gram||Rs.3,147 per gram||Rs.3,148 per gram|
|Highest price||Rs.3,162 per gram on 17 & 18 January||Rs.3,148 per gram from 3-5, 7 and from 17-22 February||Rs.3,148 per gram on 8 & 9 and from 24-31 March|
|Lowest price||Rs.3,080 per gram from 4-8 January||Rs.3,091 per gram from 9-11 February||Rs.3,123 per gram from 17-23 March|
Gold Rate Trend in Solapur for January 2018
- Gold opened the month priced at Rs.3,093 per gram as increased orders from local jewellers kept prices stable.
- Overseas demand was also on the rise as investors sought to capitalise on a weak dollar, with high order volumes seen from Asian countries.
- Prices dipped to Rs.3,080 per gram from 4-8 January as a rally by the dollar led to a drop in demand overseas.
- Local industrial demand rose steadily and kept prices stable in spite of fluctuations seen internationally.
- Gold surged to its highest price for the month, trading at Rs.3,162 per gram on 17 and 18 January as demand rose both locally and internationally.
- The renewal of tensions between the U.S. and North Korea as well as a poor performance by equity markets led to greater demand for bullion.
- Prices fell marginally due to a lowering of demand, resulting in gold trading at Rs.3,121 per gram on 31 January.
Gold Rate Trend in Solapur for February 2018
- The precious metal traded at Rs.3,218 per gram as the month began, with fluctuating cues from markets and a strengthening dollar which led to a drop in demand.
- Local demand from jewellers also fell marginally, as the retail sales fell due to the higher cost associated with a strong dollar rate.
- Gold fell to a monthly low of Rs.3,091 per gram from 9-11 February as global markets were steady after positive economic data from the U.S.
- Prices jumped to Rs.3,148 per gram on 17 February as the dollar fell sharply on news of the implementation of trade tariffs by the U.S., which led to renewed interest in gold.
- Overseas demand for the metal was strong as industrial units as well as investors rushed to buy the safe-haven asset, keeping prices high.
- The price of gold continued to trade high in spite of the dollar recovering some of its earlier losses, resulting in gold trading at Rs.3,147 per gram on 28 February.
- The steady rise in gold prices led to the metal rising by 0.60% over the course of the month.
Gold Rate Trend in Solapur for March 2018
- Gold was priced at Rs.3,147 per gram in Solapur as the month began, as a weak dollar rate kept demand for gold high.
- Prices dropped marginally as jewellers reduced orders due to poor retail sales, but industrial demand kept prices from falling too steeply.
- Demand from overseas was also quite stable as equity markets traded lower than expected on poor U.S. economic results.
- The escalation of tensions with North Korea impacted stock markets globally but demand for gold remained stable.
- Prices fell to Rs.3,123 per gram on 17 March as the rising dollar rate led to fewer orders from local industry and jewellers.
- Gold reached its monthly high of Rs.3,148 per gram from 24-31 March as international demand rose due to unstable stock markets.
Gold Rate Trend in Solapur for October 2017 to December 2017 (per gram of 24 karat gold)
|1st day||Rs.3,127 per gram||Rs.3,070 per gram||Rs.3,074 per gram|
|Last day||Rs.3,088 per gram||Rs.3,081 per gram||Rs.3,093 per gram|
|Highest price||Rs.3,135 per gram from 12 to 17 October||Rs.3,115 per gram on 19 and 20 November||Rs.3,094 per gram from 2 to 4 December|
|Lowest price||Rs.3,002 per gram from 23 to 26 October||Rs.3,061 per gram on 6 November||Rs.2,988 per gram on 12 and 13 December|
Gold Rate Trend in Solapur 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 Solapur 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 Solapur 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 Solapur.
Gold Rate Trend in Solapur for November 2017:
- Gold rates in Solapur 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 Solapur 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 Solapur for December 2017:
- Gold rates in Solapur 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 in Solapur trend inclined by 0.61% in Solapur in December owing to strong demand.
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Gold Rate Trend in Solapur 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 Solapur for July 2017:
- Gold started trading at Rs.3,055 per gram on the 1st of July but fell over the next few days due to a weak demand domestically.
- This low demand was reflected in the entire country and was primarily due to the introduction of GST.
- Demand was so bad that rates fell to Rs.2,981 per gram by the end of the 9th, recording a Rs.74 drop in just over a week.
- The 10th saw gold rates in Solapur record their lowest gold rate of Rs.2,902 per gram as demand remained weak.
- Prices picked up over the latter half of the month and traded mostly at Rs.2,988 per gram for the final eight days of the month.
Gold Rate Trend in Solapur for August 2017:
- When trading began for August in Solapur, gold was priced at Rs.2,988 per gram.
- As the US dollar fell, gold rates fell to Rs.2,978 per gram - which was the lowest gold rate for the month.
- On the 11th, gold prices in Solapur went up to as high as Rs.3,044 per gram due to increased demand and continued at the same rate till the 14th of August.
- The festive season towards the end of the month pushed gold rates up to Rs.3,045 per gram.
- Price trends increased by 1.9% this month, thanks to weak dollar and strong domestic demand.
Gold Rate Trend in Solapur for September 2017:
- September was by far the best month for gold trading in Solapur. The US dollar dropped significantly and so did the US market because of the escalating geopolitical concerns.
- When the month began, gold was priced at Rs.3,045 per gram.
- Gold rates in Solapur surged significantly over the first two weeks and hit a monthly high figure of Rs.3,186 per gram as North Korea’s nuclear test sent markets crashing.
- However, markets and the greenback rallied after the second week to gold prices down to Rs.3,113 per gram by the 20th of September.
- The Dusshera and Dhanteras season demand saw gold rates in Solapur rise to Rs.3,165 per gram on the 26th.
- But, the unsustainable nature of the demand pushed prices back down to Rs.3,127 per gram by the end of the month.
- Price trends inclined by 2.69% this month, thanks to weak markets and robust festive season demand.
Gold Rate Trend in Solapur 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 Solapur for April 2017:
- On the 1st of April in Solapur, gold prices were recorded at Rs.3,011 per gram.
- As demand remained stable for the next two days, gold price in Solapur were holding at Rs.3,011 per gram.
- Due to a decline in US dollar value, gold prices went up to Rs.3,043 per gram on the 4th of April.
- There was sustained demand for the next five days i.e., till the 9th, which helped gold prices remain at Rs.3,043 per gram.
- On the 10th, gold price in Solapur dropped to Rs.3,025 per gram US dollar rallied.
- For the next 15 days, i.e, till the 25th, gold rates didn’t change at all and remained instead at Rs.3,025 per gram.
- However, a sudden increase in demand led to prices reaching Rs.3,036 per gram on the 26th.
- As the demand remained steady, gold rate in Solapur went up to Rs.3,048 per gram on the 27th.
- The 29th saw gold rate in Solapur go up again to Rs.3,061 per gram and remained the same till the end of the month on the 30th of April.
- Gold prices in Solapur went up at a rate of 1.66%, thanks to poor performance from the US dollar and commendable performance from the local market.
Gold Rate Trend in Solapur for May 2017:
- When trading began for the month of May in Solapur, gold was priced at Rs.3,061 per gram.
- The 2nd of May saw gold prices remain at Rs.3,061 per gram but drop by Rs.41 to Rs.3,020 per gram on the 3rd.
- The sudden drop can be attributed to the rallying Us dollar.
- Gold price in Solapur fell to Rs.2,996 per gram on the 4th as demand saw no signs of picking up, while dollar kept getting better.
- Gold price in Solapur went further down to Rs.2,977 per gram as demand fell consistently.
- Gold rate in Solapur hit their lowest - of Rs.2,956 per gram on the 11th - reaching near four-month low figures as stocks surged in the US.
- On the 17th, gold prices went up to Rs.2,973 per gram as US markets fell owing to weak manufacturing data.
- Bullion prices went up again on the 18th to 3,017 per gram and continued at the same rate as local jewellers took advantage of low international rates.
- Although, gold prices rallied towards the end of the month, there was a fall of 0.49% during the month, brought about by a strong US market.
Gold Rate Trend in Solapur for June 2017:
- On the 1st of June, gold was trading at Rs.3,046 per gram and remained unchanged on the 2nd.
- The 3rd saw gold trading at Rs.3,059 per gram - which then went up to Rs.3,077 per gram on the 5th.
- Price of gold in Solapur went down to Rs.3,033 per gram on the 15th as US dollar value increased.
- From the 16th to the 29th, gold rate in Solapur remained at Rs.3,033 per gram as demand from local jewellers remained stable.
- Gold rate in Solapur from the 15th to the 29th i.e., Rs.3,033 per gram were the lowest bullion trading price for the month.
- When the month came to an end on the 30th, gold was trading at Rs.3,055 per gram - up by Rs.22 from the previous day’s closing rates.
- The fall in gold price trends the previous month was halted by a positive performance this month.
- The month ended with gold price in Solapur up by a marginal 0.29% - which was brought about by a falling US dollar and a solid domestic demand.
Gold Rate Trend in Solapur 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 of January to 27th of January||Rs.3,054 per gram from the 24th of February to 28th of February||Rs.3,054 per gram on the 1st and 2nd of March|
|Lowest price||Rs.2,884 per gram on the 1st of January and the 3rd of January||Rs.2,985 per gram on the 1st of February||Rs.2,968 per gram on the 15th of March|
Gold Rate Trend for Solapur in January 2017
- Gold was priced at Rs.2,884 per gram on the 1st day of January in Solapur. This price was also noted on the 3rd of January. This rate was also the lowest at which gold traded for the month of January.
- There was a slight increase witnessed in the price of gold as the week continued. On the 4th of the month, gold was priced at Rs.2,895 per gram before increasing to Rs.2,908 per gram thanks to heightened demand for gold.
- Rate of gold was Rs.2,938 per gram on the 10th of January and this rate was seen the next day as well.
- There were a number of variations noted in the price of gold throughout the month.
- From the 16th of January till the 27th of January, gold was priced at Rs.2,997 per gram which was the highest rate at which gold traded during the month due to high demand from investors as well jewellers.
- At the end of January, the price of gold increased by 3.50% as compared to the rates seen during the beginning of the month
Gold Rate Trend for Solapur in February 2017
- On the 1st of the month, gold was priced at Rs.2,985 which was a continuation of the rate noted during the end of January in Solapur. This price was seen the next day as well and was the lowest at which gold traded at for the month of February.
- Depending on the demand for gold, the rate of gold varied as the month progressed.
- As the value of the U.S. Dollar increased, the price of gold fell to Rs.3,013 per gram. This price was noted on all days of February between 10th of February and 15th of February.
- As the demand for this yellow metal increased, the price of gold rose by Rs.10 to trade at Rs.3,034 per gram. As the demand remained constant, gold continued to trade at the aforementioned rate until the 23rd of February.
- The price of gold was steady at Rs.3,054 per gram from the 24th of February till February due to a significant increase in the demand for this precious metal from jewellers. An incline of 2.31% was noted in the rate of gold during the month of February.
Gold Rate Trend for Solapur in March 2017
- Gold traded at Rs.3,054 per gram on the 1st of March in Solapur and was stable at this rate until the 2nd of March. This rate was also the highest at which gold traded at for the month of March in Solapur.
- Throughout the month a number of variations were noted in gold rate.
- On the 15th of March, gold plunged to its lowest rate of Rs.2,968 per gram for the month due to uncertainty over the Dutch election outcome and U.S. Fed Reserve meeting. The next day the rate of gold recovered to trade at Rs.3,012 per gram until the 22nd of March.
- Due to steady demand from both domestic and well as international markets, the rate of gold was steady at Rs.3,035 per gram from the 23rd of March to 30th of March.
- The rate of gold on the final day of March in Solapur was Rs.3,011 per gram recording a decline of 1.40% in the price of this precious metal as compared to the rate noted at the beginning of the month.
|1st day||Rs.3,249||Rs.3,168 per gram||Rs.2,938 per gram|
|Last day||Rs.3,168||Rs.2,975 per gram||Rs.2,884 per gram|
|Highest price||Rs.3,249 on 1st and 2nd October||Rs.3,247 per gram on 11th November||Rs.2,938 per gram from 1st to 7th|
|Lowest price||Rs.3,123 from 7th October to 9th October||Rs.2,949 per gram on 25th November||Rs.2,810 per gram on the 22nd and 26th|
Gold Rate Trend in Solapur for October 2016
- In the fourth quarter of the year, the price of gold on the 1st of October in Solapur was Rs.3,249. However, there were a number of variations noted in the rate of gold and as the days progressed, due to a dip in demand, price of gold plunged to Rs.3,123 per gram on the 9th.
- On 10th, price of gold increased to Rs.3,135 per gram and continued from there to Rs.3,143 per gram on 13th of October. However, this increase in gold rate could not be sustained and the price of gold reduced to Rs.3,133 per gram on the 14th of the month.
- Due to fluctuations in demand, price of gold varied as well and traded at Rs.3,154 per gram on the 20th.
- The last 10 days of October saw prices stabilise and rise to trade at Rs.3,168 per gram on the 26th and continued at the same rate till the end of the month.
- Overall, there was a decline of -2.49% seen in the price of gold in the month of October in Solapur.
Gold Rate Trend in Solapur for November 2016
- Price of gold was relatively high during the month of November in Solapur. Rate of gold depends on a number of factors including demand in both international and domestic markets as well as political factors.
- On the 1st of November, gold traded at Rs.3,168 per gram which was quite high due to sustained demand. The ongoing wedding season in India contributed to this high rate as well.
- Gold continued trading at a high rate and which then increased to Rs.3,197 by the 9th as demand for this precious metal increased.
- On the 8th of November, notes worth Rs.500 and Rs.1,000 were banned by the government led by Prime Minister Narendra Modi in an effort to curb corruption. This move came to be known as demonetization and during the next few days, a severe cash crunch was witnessed.
- Rate of gold increased on the 11th to Rs.3,247 per gram which could be attributed to sustained demand.
- However, the rate of gold declined from the 13th of November as PAN card was made mandatory for gold purchases of more than Rs.2 lakh leading to a reduction in demand.
- From 13th of November to 18th of November, rate of gold was steady at Rs.3,082 per gram but reduced after to Rs.3,009 per gram on the 19th.
- Rate of gold continued declining as the price hit Rs.2,976 per gram on 24th and then to Rs.2,949 per gram on the 25th.
- As issues regarding cash crunch declined slightly, gold rates picked up to trade at Rs.2,975 per gram at the end of the month.
- The month of November saw an overall decline of -6.09% in Solapur regarding the price of gold.
Gold Trend Rate in Solapur for December 2016
- Demonetization resulted in a severe cash crunch, affecting the economy and the U.S Election results continued to have an impact on the rate of gold even during the month of December.
- This precious metal opened at Rs.2,938 per gram which was a decline of Rs. 37 from the last day of November.
- Although, prices remained steady until the 7th of December, it reduced to Rs.2,907 per gram on the 8th.
- On 10th December, rate of gold declined to hit Rs.2,879 per gram and then to Rs.2,842 per gram on the 16th.
- As the weeks progressed, the price of gold declined to Rs.2,826 per gram on the 17th and continued at the same rate till 21st but reduced again to Rs.2,810 per gram on the 22nd of the month.
- Towards the end of the month, the rate of gold slightly improved to close at at Rs.2,884 per gram.
- Overall, the month of December saw a decline of -1.83% in the price of gold as compared to that at the beginning of the month.
|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 from 23rd September to 26th September|
|Lowest price||Rs.3,112 per gram on 1st July||Rs.3,225 per gram on 31st August||Rs.3,212 on 1st September|
Gold Rate Trend of Solapur in July 2016
- Gold traded at Rs.3,112 per gram on July 1st.
- Demand was high this month as the market was ruled by positive trends.
- Talk about the Fed rate hike was dull but expectations of monetary stimulus from central banks grew strong in the market.
- By the end of the month, gold prices reached their highest rate seen in July which was Rs.3,249 per gram.
- There was an increase of 4.40% in gold rates this month.
Gold Rate Trend of Solapur in August 2016
- Bullish sentiments continued into the month of August with gold trading at Rs.3,249 per gram on 1st August.
- By 18th August, gold rates had reached their highest for the month at Rs.3,283 per gram.
- The U.S. Federal Reserve raised expectations of the rate hike in light of strong economic data.
- Gold prices started to fall as demand for the metal dropped.
- The lowest price for this month was Rs.3,225 per gram on 31st July.
- Gold rates fell by 0.74% this month.
Gold Rate Trend of Solapur in September 2016
- Gold traded at Rs.3,212 per gram on 1st September.
- In light of the upcoming presidential elections, the U.S. Federal Reserve decided to put the interest rate hike on hold for now.
- Demand for gold picked up as the market turned bullish.
- Gold traded at Rs.3,285 per gram on 23rd to 26th September which was the highest rate for this month.
- By the end of the month, gold prices had climbed up by 2.08%.
|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 1||Rs.3,192 per gram on 27th June|
|Lowest Price||Rs. 2,989 per gram on April 1||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 Solapur in April 2016
- There were very minor fluctuations in the rate of gold throughout 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 first of the month wherein gold was priced at Rs. 2,989 per gram.
Gold Rate Trend of Solapur in May 2016
- Gold rate traded at Rs. 3,154 per gram on the first day of the month.
- However, as the month progressed, there was a decline seen in the rate of gold due to Greece’s default crisis and expectation of interest rate hike by U.S. Fed..
- The lowest rate of gold in the entire month was on the last day of the month, at Rs. 3,018.
Gold Rate Trend of Solapur in June 2016
- Gold prices in Solapur reached highs as the markets were unsteady due to the British referendum.
- Markets were stable at the beginning of the month but demand for gold was steady in spite of the strong markets.
- Prices stabilised as the month continued, with the Dollar gaining ground on other currencies.
- The result of the referendum led to equities falling and gold prices rose sharply before settling at Rs.3,112 per gram.
|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 13|
|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 Solapur in January 2016
- Gold traded at Rs. 2,601 on the 1st of January.
- Although there were minor fluctuations seen in the rate of gold, the price was relatively stable.
- A rise of 6.68% was noted in the price of gold as the month progressed.
- The highest price was seen on the 27th of January at Rs. 2,789 per gram.
Gold Rate Trend of Solapur in February 2016
- At the beginning of the month, gold traded at Rs. 3,068 per gram.
- As the month progressed, there was a rise seen in the prices of gold due to steady demand and wedding season.
- Gold rates closed at Rs. 2,775 per gram on the 29th of February which was a rise of 10.55% as compared to the beginning of the month.
Gold Rate Trend of Solapur in March 2016
- As the month of March progressed, there was a reduction in the price of gold due to an ongoing jeweller’s strike and expectation of rate hike by the U.S. Fed.
- Gold rate touched its lowest on 31th March at Rs. 2,989 per gram.
- A decline of 2.57% was noted in the rate of gold at the end of the month as compared to the beginning.
Gold Rate in Solapur
Gold rate in Solapur is determined by the purity of gold. Buyers can buy either 24 karat, 22 karat, 18 karat or 14 karat gold. 14 karat is cheap and 24 karat gold is expensive. Gold rate in Solapur changes according to the international gold market. The gold rate in Solapur had fallen considerable in 2015 and the rates picked up in January, 2016.
24 karat gold:
24 karat gold is the purest form of gold. It includes 99.95% gold mass which makes it a very soft metal therefore it cannot be used to make jewellery or other ornaments. The gold rate for 24 karat gold in Solapur is Rs.29,760 per 10 grams as on 11th March, 2016.
22 karat gold:
22 karat gold on the other hand includes 91.6% gold mass making it a highest quality gold. This is used to make jewellery and ornaments because it has a shiny yellow coat. The 22 karat gold brightness depends on the metal that it is alloyed with. Mostly 22 karat gold is alloyed with silver or copper. You will get a reddish tint when 22 karat gold is mixed with copper. When zinc is added to copper it neutralises the rose color making it look yellow.
Jewellers believe that the best quality is when the 22 karat gold is alloyed with silver. It is the common form of retail gold jewellery. But, it is worn off easily so you must take special care of the ornament. The gold rate for 22 karat gold in Solapur is Rs.27,820 per 10 grams as on 11th March, 2016.
18 karat gold:
18 karat gold includes only 75% of the gold mass and this makes it the popular karat for jewellery. It provides sufficient strength to hold the gemstones, diamonds and emeralds in place. Pink and rose gold are 18 karat gold.
14 karat gold:
14 karat gold comprises of 58.3% gold mass and it is the cheapest type of gold jewellery. You get a dull bronze color when 14 karat gold is alloyed with copper. You will get white gold when you alloy 14 karat gold with silver or nickel.
Gold investment avenues in Solapur
Indians love buying gold either as a jewellery or to invest. Gold sales are the highest during the festivals and wedding season. As gold is treated as a safe haven asset, investors also buy gold to protect themselves from the fluctuating market. Gold can be brought in Solapur in the following ways:
- Over the counter purchases:
Residents of Solapur prefer to look at the jewellery and try it on before actually buying it. There are a various jewellers in Solapur from where people can buy gold in any form. Gold can also be brought in the form of coins and bars from the bank as well as the jewellers. When you are buying gold from the bank it is costlier, as you get a purity certificate.
- Market trade:
Gold can now be purchased from anywhere as you can have access to E-gold, futures and ETFs. E-gold is traded through National Spot Exchange. Bombay Stock Exchange trades ETFs. Trading in gold is subject to certain risk which you must be aware of before you start trading.
- Also Check: Gold Rate in Maharashtra
Also Check Gold Price in NearBy Cities of Solapur
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|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 Hyderabad|
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