Gold Rate In Telangana

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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 2019 to June 2019 (per gram of 24 karat gold)

Gold Rate Trend in Telangana for January 2019 to March 2019 (per gram of 24 karat gold)

Gold Rate Trend in Telangana for January 2019:

• Despite an uninspiring start in the beginning of 2019 when gold traded at Rs.3,172 per gram, the gold rate in Telangana surged in the coming weeks as retail demand rose and there were favourable overseas market cues. This was also the lowest price the metal stood at for the month.
• The price of the metal saw an up rise on 4th January as investors increased their stake in bullion as a hedge against potential equity losses due to volatile markets.
• Demand for the precious metal in Asia remained weak due to the impact of trade sanctions. However, healthy local and industrial demand maintained the positive trend of gold prices in Telangana.
• The month ended with gold trading at its highest on 30th January. This may have been the effect of the US government shutting down and Brexit’s negative effects in the economy. On 31st January, the yellow metal was priced at Rs.3,321 per gram on.

Gold Rate Trend in Telangana for February 2019:

• A diminished retail offtake and a volatile marked stunted the value of gold even though the gold rate in Telangana trading at a high at the start of the month. As on 1st February, the metal was trading at Rs.3,326 per gram.
• Due to conflicting overseas trends, the price of gold fluctuated. As on 5th February, gold was trading at Rs.3,346 per gram. During this time, local and industrial demand remained steady. However, the price dipped on 12th February when it was priced at Rs.3,305 per gram as investor interest declined.
• The Sino-US trade talks stirred up negativity in the economy and investors switched to safe-haven assets as a hedge against any losses. This boosted the demand for gold in Telangana and the price rose to Rs.3,350 per gram on 16 February.
• A weak US dollar also boosted local demand for the metal as gold prices rose to Rs.3,392 per gram on 21 February, but an aggressive stand by the Fed Reserve saw demand decline as gold closed at Rs.3,333 per gram on 28 February. The metal in Telangana saw a percentage incline of 0.21% for the month of February.

Gold Rate Trend in Telangana for March 2019:

• Gold rate in Telangana dipped in value at the beginning of the month as the value of the US dollar rose substantially. Uncharacteristically, stocks and equities too dipped in value at the same time. The price of gold on 1st March stood at Rs.3,305 per gram. This was also the highest value of the yellow metal for the month.
• The dollar then declined in value on the 7th in comparison to the Euro as the ECB pushed its decision to hike interest rates. This stunted the growth of the metal due to weak economic conditions.
• On 29th March, gold stood at its lowest point for the month when it was trading at Rs.3,169 per gram. This was influenced by the dollar increasing in value and the economic conditions weakening.
• A percentage decline of 3.17 was recorded for the month of March while it was trading at Rs.3,200 per gram. This was also one of the lowest prices the metal stood at for the month.

Gold Rate Trend in Telangana for October 2018 to December 2018 (per gram of 24 karat gold) 

Gold rate trend in Telangana in October 2018:

• The month of October saw an upward trend in gold prices. As the markets fell, the value of the dollar fell against the other currencies, resulting in an increase in demand for gold as a safe-haven asset.
• The metal opened at Rs.3,071 per gram. By 15 October, prices increased to Rs.3,211 per gram as the investors switched to investing in bullion compared to the market.
• Geopolitical factors such as the Indo-China trade war, the budgetary crisis in Italy as well as the crisis in the Middle-East played a major role in gold trade for the month.
• In the second half of the month, demand increased among local jewellers due to the upcoming festivals of Diwali. The metal closed at Rs.3,188 per gram with a percentage incline of 3.80.

Gold rate trend in Telangana in November 2018:

• In November, gold trade saw an equally downward trend in the prices of the metal. The dollar recovered in the market against other currencies, resulting in the decrease in value of the rupee.
• The first week of November was steady with the price in the country due to the festivals of Diwali and Dhanteras. On 1 November, gold opened at Rs.3,184 per gram increasing marginally to Rs.3,196 per gram by the end of the first week.
• However, throughout the rest of the month, the price of the yellow metal dipped due to low demand by local jewellers and poor import trends.
• On 30 November, gold trade closed with a percentage decline of 4.36, priced at Rs.3,045 per gram.

Gold rate trend in Telangana in December 2018:

• December provided some respite to investors as gold showed a slight upward trend in the month. The dollar took a hit against other currencies due to the US-China trade truce and the ongoing Brexit negotiations.
• Gold trade opened at Rs.3,045 per gram and increased to hit the month’s highest at Rs.3,192 per gram by mid-month. Local demand for the precious metal was at a rise due to the onset of the wedding season in the country.
• Import trends showed a positive trend, and the value of the rupee increased against the dollar.
• On 31 December, gold closed at Rs.3,165 per gram with a percentage incline of 3.94 closing the gap between monthly losses. 

Gold Rate Trend in Telangana for July 2018 to September 2018 (per gram of 24 karat gold)

Gold Rate Trend in Telangana for July 2018:

• The start of the month saw gold prices open at Rs.3,059 per gram as demand for the yellow metal was stable.
• As the rupee fell against the dollar, local demand declined as retail and industrial sales recorded a drop in order volumes.
• Gold rates in Telangana rose briefly to trade at Rs.3,071 per gram on 6 July but market forces and declining overseas demand impacted local demand and rates.
• The increasingly protectionist policies adopted by the U.S. and the rising dollar resulted in gold prices falling to a low of Rs.2,986 per gram on 31 July to record a loss of 2.38% during the month.

Gold Rate Trend in Telangana for August 2018:

• While pressure on gold continued due to the steady dollar, the precious metal made some gains due to fluctuating equities and growing reliance on safe-haven assets.
• The month began with gold priced at Rs.2,983 per gram as industrial demand from Asia was sluggish.
• The trade dispute between China and the United States increased market volatility as investors hedged equities against gold purchases, but prices remained low.
• Gold fell to a low of Rs.2,940 per gram on 16 August as the dollar rose on strong U.S. fundamentals and falling unemployment figures.
• Stalling negotiations regarding Brexit and fears of the long-term impact of the Sino-U.S. tariff war pushed demand for gold to Rs.3,036 per gram on 31 August.

Gold Rate Trend in Telangana for September 2018:

• Gold prices in Telangana saw a boost during the month, with the metal opening trading at Rs.3,029 per gram on rising regional demand.
• In spite of the falling rupee, there was a spike in demand for gold from jewellers ahead of the festive season, which kept prices high.
• International demand fluctuated as markets were volatile during Brexit negotiations and Italy’s budgetary crisis, which boosted interest in bullion as a safe-haven asset.
• Gold reached a monthly high of Rs.3,090 per gram on 25 and 26 September, fuelled by increased industrial demand.
• The end of the month saw gold prices close at Rs.3,074 per gram to record a 1.48% rise in price.

Gold Rate Trend in Telangana for April 2018 to June 2018 (per gram of 24 karat gold)

Gold Rate Trend in Telangana for April 2018:

• Gold was priced at Rs.3,072 per gram when trading began in Telangana for the second quarter of 2018.
• Demand was on the higher side this month as the US and NATO’s joint force conducted a joint strike on Syria. This caused uncertainty in the market and the US dollar plummeted owing to this.
• As safe haven demand surged due to the aforementioned reason, gold rates in Telangana and other major cities in the world also rose.
• The US dollar failed to recover from the fall as gold demand was on the rise and investors began to take advantage of the situation.
• Gold was trading at its lowest on the 6th when it was priced at Rs.3,064 per gram - as demand was yet to soar.
• Gold was at its highest this month on the 19th when it traded at Rs.3,153 per gram - as demand skyrocketed ahead of strong cues from the global market.
• Price trends recorded a 1.66% incline this month, thanks to a strong demand.

Gold Rate Trend in Telangana for May 2018:

• When trading for May began, gold was priced at Rs.3,114 per gram - a Rs.9 drop from the previous day’s rates.
• Demand was slow this week as the US dollar picked up and local demand slowed down as a result.
• The metal was at its lowest on the 2nd when it traded at Rs.3,103 per gram - a rapid slow down owing to poor demand. This picked up over the course of the month, reaching the highest point on the 14th when it traded at Rs.3,147 per gram.
• When the month ended, gold was priced at Rs.3,122 per gram - a Rs.8 more than the month’s starting rates.
• Price trends recorded a 0.25% incline this month, owing to a slightly uneven demand. The prices, however, signaled a much weaker end to the quarter.

Gold Rate Trend in Telangana for June 2018:

• When trading began for the final month of Q2 2018, gold was priced at Rs.3,100 per gram.
• This month was really bad for gold trading as demand was on the weaker side, owing to a strong market and a stronger Fed rate meeting, both of which pointed towards a rate hike later in the year.
• The aforementioned development weighed heavily on the yellow metal. This caused gold rates to plummet worldwide, including all the major cities in the country.
• Gold traded at its highest on the 9th and 10th, when it was priced at Rs.3,119 per gram. Consequently, the lowest rate for the month was recorded on the last day when it traded at Rs.3,054 per gram.
• Price trends fell by a significant 1.48% owing to a strong dollar and weakened local demand.

Gold Rate Trend in Telangana for January 2018 to March 2018 (per gram of 24 karat gold)

Gold Rate Trend in Telangana for January 2018:

• The month commenced with gold trading at Rs.3,009 per gram with steady demand from domestic jewellers, retailers and industries.
• However, an increase in the dollar value led to demand declining over the next few days and gold was priced at Rs.3,000 per kg - the lowest recorded monthly figure - on the 4th.
• The next couple of weeks witnessed gold rates rising considerably with the dollar value tumbling on account of the poor US employment data.
• Rates surged to Rs.3,129 per gram on the 25th as investors gravitated towards safe-haven assets such as gold to hedge against the US inflation concerns.
• The month came to an end with gold rates stabilising at Rs.3,045 per gram on the 31st with demand held in check by the gaining US dollar.
• Gold rates in Telangana rose by 1.19% due to the positive global market trends that boosted local demand during the month.

Gold Rate Trend in Telangana for February 2018:

• In Telangana, when trading opened for the month, gold was priced relatively lower at Rs.3,040 per gram on the 1st with domestic demand suppressed by the strengthened US greenback and equity markets.
• Strong dollar performances coupled with reduced demand from local industries, jewellers and retailers led to gold prices dropping to Rs.3,003 per gram on the 8th.
• However, an increase in purchases made at the domestic markets ahead of Valentine’s Day led to gold rates recovering to Rs.3,103 per gram on the 14th. This was also the highest recorded monthly figure in that state.
• The next couple of weeks saw gold prices in Telangana declining as the US dollar index gained against other apex currencies, strengthening the greenback.
• The month came to an end with the precious metal priced at Rs.3,046 per gram on the 28th amid the poor trend overseas.
• Telangana registered a profit of 0.19% in the domestic bullion market owing to the firm overseas cues during the month.

Gold Rate Trend in Telangana for March 2018:

• The last month of Q1 2018 opened with the yellow metal prices holding at Rs.3,043 per gram on the 1st following a slight decline in local demand from the previous month.
• An unevenly performing bullion market coupled with the unsteady US dollar led to gold rates fluctuating during the month.
• The 19th witnessed gold rates in Telangana plunging to their lowest recorded monthly figure of Rs.3,030 per gram as equities markets skyrocketed following the dismissal of Rex Tillerson, the US Secretary of State, pushing the US greenback higher.
• However, with the new US import tariffs raising concerns over trade relations with China, demand for the bullion surged.
• Strong safe-haven demand coupled with positive global cues led to gold being priced at Rs.3,105 per gram on the 24th.
• Trading closed for the month with bullion prices holding steady at Rs.3,072 per gram on the last day with steady demand from jewellers and retailers.
• The month saw gold rates rising by 0.95% in Telangana due to the strong global cues that pushed safe-haven demand for the metal during the month.

Gold Rate Trend in Telangana for October 2017 to December 2017 (per gram of 24 karat gold)

Gold rate Trend in Telangana for October 2017

• Gold prices in Telangana began the month at Rs.3,040 per gram as demand was stable courtesy high demand from local jewellers.
• The sudden rise in the dollar rate in the light of favourable financial cues led to a decline in interest in the precious yellow metal, which led to demand dropping quite sharply.
• Prices fluctuated as local demand struggled to keep prices stable as European markets reduced orders for gold.
• The middle of the month saw an increase in the price of gold as there was a momentary slide in the dollar index, which led to the precious metal’s price rising to Rs.3,059 per gram on 14 October.
• The onset of the festive season also contributed to the rise in demand for gold, though this was short-lived as prices took a nosedive after Diwali.
• Consistently poor demand from Asia took a toll on the price of gold as prices fell steadily.
• The month ended with gold priced at Rs.2,996 per gram on 31 October to register a loss of 1.44% over the course of the month.

Gold Rate Trend in Telangana for November 2017

• Demand for gold in November reflected a change in market behaviour, with gold prices on the rise for most of the month.
• The precious metal traded at Rs.2,974 per gram on 1 November, with prices falling further due to restrained demand from industrial units.
• Local demand was also muted in spite of it being the wedding season, which led to a further drop in prices.
• A minor rise in price due to a drop in the dollar rate provided some respite for the metal, but local jewellers continued to reduce orders.
• The announcement of a new tax policy that would provide tax breaks to industry was met with some trepidation on the markets, which led to a slight increase in interest for gold.
• Asian demand rose marginally towards the middle of the month, which led to a slight rise in the price of gold.
• The metal reached its highest rates for the month from 18-20 November when gold price  in Telangana rose to Rs.3,030 per gram after the U.S. Dollar dropped on speculation over the appointment of the new Fed chief.
• Prices fluctuated due to demand vagaries, but there was a decline in the price of gold as markets recouped their earlier losses.
• The month ended with gold priced at Rs.2,996 per gram on 30 November, registering a rise of 0.730.66% over the course of the month.

Gold Rate Trend in Telangana for December 2017

• The last month of the year saw gold prices fluctuate wildly due to conflicting cues from international markets.
• The yellow metal opened the month trading at Rs.2,982 per gram due to a minor dip in demand.
• Asian demand continued to be muted due to the high dollar rate, which made imports more expensive.
• European industry also put off gold purchases due to the falling Euro, which led to a further decline in price.
• Demand was muted around the Christmas break due to a rise in consumer spending which led to a surge in equity markets.
• Gold price in Telangana rose towards the end of the month as markets were jittery ahead of the appointment of the new Fed chief and the possibility of a tightening of monetary policy.
• The month ended with gold priced at Rs.3,015 per gram on 31 December, resulting in a rise in value of 1.10%.

Gold Rate Trend in Telangana for July 2017 to September 2017 (per gram of 24 karat gold)

Gold Rate Trend in Telangana for July 2017:

• In Telangana, gold traded at Rs.2,950 per gram when July started.
• Rates, however, declined considerably over the first few weeks due to weak demand.
• The Indian government introduced the Goods and Services Tax (GST) on all commodities, which pushed demand down.
• By the end of the 14th, gold rates in Telangana had reached Rs.2,800 per gram - which was one of the lowest gold prices since demonetisation in November 2016.
• Another reason for the sharp fall in gold prices was the Fed Reserve statement, which said the bank is on course to rise interest rate later this year.
• Prices, though, improved towards the end of the month to close at Rs.2,920 per gram on the 31st of July.
• Due to low demand from local markets, owing to GST and a strong dollar, gold rates in Telangana fell by 1.01% for this month.

Gold Rate Trend in Telangana for August 2017:

• When trade exchanges opened for business for August, gold was priced at Rs.2,931 per gram.
• During the period between 5th to the 7th of August, gold rates reached the lowest for this month, which was Rs.2,900 per gram. This was because of a stronger-than-expected development in the US economy.
• However, local trading pushed through to record highest gold prices in Telangana for the month of Rs.2,977 per gram on the 12th of August.
• Prices seemed to increase and decrease quite a bit over the third and fourth week of the month, due to strong US dollar.
• However, Hurricane Harvey put a stop to the burgeoning US market, which pushed gold rates up.
• Gold prices inclined by 1.16% this month, thanks to a sudden decline in US dollar rates, which happened towards the end of the month.

Gold Rate Trend in Telangana for September 2017:

• September saw gold prices in Telangana pick up on the strong trends set by the previous month.
• When trading started for the 1st of September, gold was priced at Rs.2,995 per gram. The metal’s prices surged to a monthly high figure of Rs.3,071 per gram on the 7th as US economy slumped after weak data.
• The US dollar began to improve after US President Donald Trump offered $15 billion aid to states hit by Hurricane Harvey.
• Bullion prices seemed to fall on the aftermath of the aforementioned event, but picked up slightly due to the arrival of festive season in India.
• Gold prices in Telangana were recorded at Rs.3,040 per gram when the month came to an end on the 30th of September.

Gold Rate Trend in Telangana for April 2017 to June 2017 (per gram of 24 karat gold)

Gold Rate Trend in Telangana for April 2017

• Gold was priced at Rs.2,956 per gram in Nellore when the month of April began.
• Due to a falling US dollar, demand from overseas markets increased, which subsequently pushed the prices in telangana up.
• The yellow metal witnessed a monthly low price of Rs.2,954 per gram on the 8th and the 9th as a result of muted demand.
• However, prices bounced back and within a week (15th and 16th) reached a monthly high figure of Rs.3,040 per gram after demand surged/
• The last two weeks saw some fluctuations but rates remained more and less steady before ending at Rs.2,984 per gram on the 30th of April.
• Prices in telangana changed at a rate of 0.94% for the month of April - thereby keeping up with the nationwide trend.

Gold Rate Trend in Telangana for May 2017

• A volatile market led to gold prices fluctuate considerably towards the beginning of May.
• On the 1st of May, the yellow metal was trading at Rs.2,984 per gram.
• Rates fell significantly to Rs.2,899 per gram on the 6th as demand took a massive hit after Emmanuel Macron emerged victorious in the French elections.
• Demand from local circles seemed to decline with prices dropping to the month’s lowest figure of Rs.2,888 per gram on the 15th.
• Gold rates began to surge as demand went up after US president Donald Trump-related issues started to drag the high-performing US markets down.
• The metal was trading at Rs.2,910 per gram on the 17th and then went up to Rs.2,950 per gram by the 20th as investor sentiments shone through by pushing up sales.
• Rates climber further towards the end of the month as media reports in the US suggested that their president won the election with Russian help.
• Gold prices on the 27th were recorded at Rs.2,979 per gram - which fell to Rs.2,968 per gram on the last day of the month.
• Price trends in Telangana fell by half a percentage point owing to low demand for most of the month.

Gold Rate Trend in Telangana for June 2017

• June began in Telangana with gold trading at Rs.2,985 per gram on 1st June.
• Prices rose to Rs.3,012 per gram on 5th June as the US dollar was on a decline due to internal political crises wreaking havoc on the Trump administration.
• The 7th saw gold rates reach a monthly high of Rs.3,030 per gram as cues remained positive globally.
• By the end of the 12th, gold prices had dropped to Rs.2,975 per gram despite favourable market conditions as Fed Reserve’s meeting loomed large.
• As demand declined sharply, gold prices went down to as low as Rs.2,949 per gram before bouncing back to trade at Rs.2,964 per gram on the 26th of June.
• Prices fluctuated slightly to trade at Rs.2,962 per gram on the last day of the month.
• For the month of June, gold price trends in Telangana fell by just 0.05%.

Gold Rate Trend in Telangana for January 2017 to March 2017 (per gram of 24 karat gold)

Gold Rate Trend in Telangana for January 2017

• January began in Telangana with gold trading at Rs.2,821 per gram.
• As uncertainty over Donald Trump-led US government’s monetary policy rose, gold rates seemed to increase.
• This led to more investors investing in bullion, which pushed gold rates up by a lot more.
• Gold rates were at their lowest on the 1st, as demand was also on the lower end of the spectrum.
• By the end of the first week, gold rates had appreciated to Rs.2,872 per gram, and then went up to Rs.2,876 per gram on 9th.
• On 10th, gold prices went up to Rs.2,892 per gram and then to Rs.2,909 per gram on the 11th.
• By the end of the 18th, gold rates had gone up to Rs.2,974 per gram as demand was on an incline.
• Rates fluctuated over the next few days to before gaining to end the month at Rs.2,954 per gram.
• The month of January saw gold prices incline at 4.71%, thanks to a weak US dollar.

Gold Rate Trend in Telangana for February 2017

• The month of February saw gold prices continue on an inclined path as prices seemed to increase.
• On 1st February, gold was priced at Rs.2,965 per gram but went on a downhill path for the week and ended at Rs.2,965 per gram on 6th.
• However, due to a surge in demand, gold prices went up to Rs.2,980 per gram on 7th and reached Rs.2,988 per gram when the business day of 17th came to an end.
• During this month, the US federal reserve increased its rates, which led to some variations in gold pricing.
• The last two weeks of February saw gold prices fluctuate considerably as it went from Rs.2,980 per gram on 18th to Rs.2,973 per gram on 21st.
• Rates picked up during the last week as gold was seen trading at Rs.2,995 per gram on 24th as demand from local investors pushed the prices up.
• On 25th, rates again went up, this time by Rs.19 to end at Rs.3,014 per gram.
• Though the rates remained the same on 26th, gold prices fell slightly over the last two days to end the month at Rs.3,003 per gram.

Gold Rate Trend in Telangana for March 2017

• The month of March was a nightmarish period for gold sales in Telangana as demand kept going down owing to a few global and domestic factors.
• On 1st March, gold was priced at Rs.2,990 per gram,which went up to hit the highest gold rate for the month at Rs.2,994 per gram.
• However, as Fed rate hike was introduced for the second time in two months, gold prices went down over the next few days.
• On 7th, gold was trading at Rs.2,949 per gram but increased to Rs.2,970 per gram on 8th as rumours about a rate hike spread and investors went all in with bullion trade.
• After the hike came into effect, gold prices went down on 9th to reach Rs.2,951 per gram on 9th.
• Gold rates saw some variations for the next few days and hit a low point on 15th, when gold was trading at Rs.2,900 per gram.
• Prices rallied from 16th onwards and seemed to increase despite undergoing fluctuations.
• Despite a resurgence over the last few days of March, gold prices didn’t gain by much and ended at Rs.2,940 per gram on the 31st.
• Rate trends in Telangana went down by 1.67% for the month of March.

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

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