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 July 2016 to September 2016 (per gram of 24 karat gold)

Gold Rate Trend of Telangana in July 2016

• Gold traded at Rs.3,128 per gram on the 1st of July and prices declined marginally on the 2nd before consistent increases were recorded until the 8th.
• Prices fluctuated until the 20th of the month before hitting their lowest at Rs.3,116 per gram on the 21st.
• Stability was achieved on the 23rd and 24th at Rs.3,130 per gram, after which prices began fluctuating until the 30th.
• The highest recorded rate in the month of July was on the 30th and 31st when prices soared to Rs.3,214 per gram.
• The overall increase in prices between the start and end of August was just under 3%.

Gold Rate Trend of Telangana in August 2016

• The rate of gold per gram on the 1stt of August was recorded at Rs.3,215.
• Prices fluctuated until the 6th after which they started declining consistently until the 9th after which fluctuations were in order again.
• The highest recorded rate of gold in the month of August was on the 3th when they hit Rs.3,224 per gram.
• Consistency was achieved between the 19th and 21st at Rs.3,200 and the precious metal closed the month trading at Rs.3,148 per gram, and the overall decline in prices between the first and last day of the month was a little over 2%.

Gold rate trend of Telangana in September 2016

• Gold traded at Rs.3,132 per gram on 1st September.
• Prices gained stability at Rs.3,150 between the 3rd and 5th of September.
• Fluctuations occurred for most part of the month as minor increases were written off by subsequent declines, and the highest rate recorded in September was on the 8th when prices soared to Rs.3,195 per gram.
• Gold closed the month trading at Rs.3,169 per gram and the overall increase in prices between the first and last day of the month was 1.18%.

Gold Rate Trend in Telangana for April 2016 to June 2016 (per gram of 24 karat gold)

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)

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

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