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Gold Rate in Telangana
Telangana is one of the newer states in India, formed in June 2014 with Hyderabad as its capital city. It is also the twelfth largest state in India by area and has a population of over 35 million people according to the 2011 census. Its capital, Hyderabad, is a princely state ruled by the Nizam of Hyderabad, and its inclination towards grandeur is no secret. In essence, majority of the people in Telangana purchase gold whether it is in the form of jewellery for daily use or special occasions, gold coins and bullions, ETFs, E-Gold, etc.
Demand for gold is increasing in Telangana as people tend to make purchases whenever there are festivals. Since gold is considered an auspicious element, purchases are made all year round, keeping the dealers on their feet and the customers satisfied.
Gold Rate Trend in Telangana for April 2016 to June 2016 (per gram of 24 karat gold)
|1st day||Rs.2,894 per gram||Rs.3,069 per gram||Rs.2,918 per gram|
|Last day||Rs.3,069 per gram||Rs.2,916 per gram||Rs.3,103 per gram|
|Highest price||Rs.3,069 per gram on April 30th||Rs.3,073 per gram on 7th and 8th of May||Rs.3,180 per gram on June 27th and 29th|
|Lowest price||Rs.2,876 per gram on April 4th||Rs.2,900 per gram on 30th of May||Rs.2,911 per gram on 3rd of June|
Gold Rate Trend of Telangana in April 2016
- Gold prices were recorded at Rs.2,894 on the 1st of April after which they rose steadily over the course of the month.
- Marginal losses on certain days of the month were written off by subsequent gains thanks to strong international and domestic trends that did not adversely affect prices.
- The highest recorded price during the month was on the 30th when rates soared to Rs.3,069.
- The overall increase in rates when comparing the first day of the month with the last was Rs.175.
Gold Rate Trend of Telangana in May 2016
- Gold prices remained unchanged on the first day of May, at Rs.3,069.
- Prices continued to decline during the first week of May, but increased marginally on the 7th and remained unchanged on the 8th at Rs.3,073.
- The slide in prices continued over the month and the lowest price recorded in May was on the 30th when they plunged to Rs.2,900.
- The overall decline in prices when comparing the first day of May to the last was Rs.153.
Gold Rate Trend of Telangana in June 2016
- Gold prices were recorded at Rs.2,918 on the 1st of June and fluctuated over the course of the month.
- The highest recorded rate in June was on the 27th and 29th when prices soared to Rs.3,180.
- Although prices rose over the 30 days, the overall change was Rs.185.
Gold Rate Trend in Telangana for January 2016 to March 2016 (per gram of 24 karat gold)
|1st day||Rs.2,548 per gram||Rs.2,720 per gram||Rs.2,994 per gram|
|Last day||Rs.2,710 per gram||Rs.2,964 per gram||Rs.2,883 per gram|
|Highest price||Rs.2,727 per gram on January 27th||Rs.2,987 per gram on 26th of February||Rs.2,994 per gram on March 1st|
|Lowest price||Rs.2,547 per gram on January 3rd||Rs.2,720 per gram on 1st of February||Rs.2,871 per gram on 28th of March|
Gold Rate Trend of Telangana in January 2016
- Gold traded at Rs.2,548 per gram on the 1st of January with consistent increases over the next few days alleviating prices.
- The highest price in the month was recorded on the 27th when rates soared to Rs.2,727.
- By the end of the month, prices had risen to Rs.2,710, marking an overall increase of Rs.162 between the first and last day of the month.
Gold Rate Trend of Telangana in February 2016
- Gold prices were recorded at Rs.2,720 per gram on the 1st of February, followed by consistent increases over the following weeks.
- Gold rates rose to Rs.2,987 on the 26th of the month, making it the highest recorded price during February.
- A steady rise in prices over the 29 days meant that the yellow metal closed the month at Rs.2,964 per gram.
Gold Rate Trend of Telangana in March 2016
- Gold prices were recorded at Rs.2,994 on the 1st of March after which subsequent declines brought prices down as the month progressed.
- The highest recorded price in May was on the 1st – at Rs.2,994, and prices continued falling from then to the end of the month.
- By the 31st of March, prices were recorded at Rs.2,883, with the lowest price recorded on the 28th when they dropped to Rs.2,871.
- The overall decline in prices between the first and last day of March was Rs.111.
Details of Gold Price in Telangana (22 Karat & 24 Karat) - Till October 2015
24 carat gold: 24 carat gold is the purest form of gold you can find out there. The purity of the metal is 99.99%, making it slightly more expensive that 22 carat gold. If you’re looking to purchase gold in Telangana, you will have to shell out Rs 2725 per gram as of 16 October, 2015. Rates have been fluctuating over the past year, with prices exceeding Rs 2800 in January 2015, and falling and rising over periods of time ever since.
22 carat gold: 22 carat gold comes with 92% purity, which makes it cheaper in comparison with 24 carat gold. If you wish to purchase 22 carat gold in Telangana, you will have to spend Rs 2548 per gram as of 16 October, 2015. Rates of 22 carat gold have been fluctuating too. A gram of 22 carat gold cost about Rs 2600 on 16 October, 2015, and hit peak in January 2015 when a gram cost almost Rs 2700, but have declined since.
Gold Investment Avenues in Telangana
Gold can be bought in different forms based on the distinctive investment requirements of the investors. Following are the most convenient options to consider.
Market trade: E-Gold, future contracts and ETFs (Exchange Trade Funds) are the most common trading opportunities for those who are considering the purchase of gold. E-Gold may be bought and sold via the National Spot Exchange Limited and buyers are granted the option of choosing whether or not they intend on physically owning their purchase. Future contracts offer investors protection against market fluctuations and buyers will be able to possess the metal on a predetermined date. With regards to ETFs, they are the safest option for investors as they provide competitive returns and can also be traded on the Mumbai Stock Exchange.
Over-the-counter: Most of the gold investors in Telangana prefer to buy gold in the form of jewellery, coins and bullions. Gold coins and bullions can be purchased from a number of dealers and banks across the state, and local prices are often affected by international rates. While local dealers offer some of the best rates you can find the state, banks usually charge higher prices in comparison owing to quality assurance. However, local shops offer varying prices that help customers in finding the right kind of jewellery that is within their budget.
Also Check Gold Prices in the Cities of Telangana
|Gold Rate in Hyderabad||Gold Rate In Warangal|
Read More On Gold
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Indian jewellery and ornaments are held in great regard all over the world due to their craftsmanship and intricacy. Learn more about how and why gold and Indian jewellery hold a significant place in Indian culture and history.
India’s Love for Gold
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News About Telegana Gold Rate
Gold bullion falls due to rise in world stocks
Gold prices rose to its best position in three days on the back of weakening U.S Dollar and stock market performances. However bullion staged a dramatic u-turn by falling from its best position in three weeks due to rising world stocks, which reached their highest levels in over 4 months. A marked increase in oil prices in tandem with strong Chinese economic data also contributed to the drop in bullion prices. Spot gold however rose by 0.4 per cent to close at $1,231.96 per ounce, while silver prices reached a 10 month high over the week.
18th April 2016
Gold ETFs buying increases and reaches 6 year high
Gold is enjoying its best days now, the precious metal went as high as $32 for an ounce, after market trends in US put doubts into equity and other securities. Gold ETFs for April in the Comex market of New York, were traded at $1,240.40 for an ounce. The metal has reached an 18% high already this year, thanks to weak market trends globally. The ETF outflows for 2015 were 133 tonnes, and only in January came back with a bang, with roughly 57 tonnes, paying almost $2 billion. Just in this week of February, gold picked up 50 tonnes in only 2 days.
25th February 2016
Open Interest Rises By 3.98% As Buying Of Gold IncreasesAfter the turmoil in the price of gold in the last few months of 2015, the prices of gold so far in 2016 have managed to stay up by 16%. The price of gold also came up to Rs. 29,515 in the expectation that the low interest rates will support this position. Even the discount being offered on gold went up from US$ 35 to US$ 50 per troy ounce. This has been the highest discount recorded so far. Consumers are also waiting to see if the import duty on gold will be reduced by the government from the current 10%. The current situation of the gold markets are being considered to be under fresh buying with the open interest rising by 3.98%.
22nd February 2016
- For more related news /update on gold price visit: Gold News