Gold Rate In Telangana Today

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Gold Price 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 2020 to September 2020 (per gram of 24 karat gold)

Gold Rate Trend in Telangana for April 2020 to June 2020 (per gram of 24 karat gold)

Quarterly Gold Rate in Telangana from April to June:

• On 1 April 2020, the price of gold in Telangana was at Rs.4,150 per gram. On 30 April 2020, the price of gold was at Rs.4,720 per gram. This was also the highest rate that gold hit for the month. Overall, gold prices in Telangana saw a 1.3% increase in its rates for the month.
• Gold opened at the rate of Rs.4,670 per gram for 24 karats in the month of May in Telangana. The last week of the month witnessed the prices going up and down again due to the various political and economic factors which played a direct role. Despite the uncertainty regarding the rise and drop in gold prices, the yellow metal touched its highest rate on 26 May and 27 May at Rs.4,621.
• The price of the metal opened the month of June at Rs.4,917 per gram and showed an overall declining trend with risk appetite amongst investors increasing. The metal closed the month at Rs.5,067 per gram on 30 June with an overall percentage decline of 3.05%.

Gold Rate Trend in Telangana for January 2020 to March 2020 (per gram of 24 karat gold)

Quarterly Gold Rate in Telangana from January 2020 to March 2020:

• The price of gold in Telangana opened at Rs.3,922 and closed at Rs.4,074 on the last day of the month of January. The price of gold was impacted due to the trade tensions between U.S and China. The escalation of political tensions between the Middle East and U.S played a role in Gold touching its highest on 8 January at Rs.4,125 per gram. However, the price of yellow metal fluctuated and as things got better between U.S and China followed by easing of conflict between U.S and Middle East, the price of gold fell as investors turned to riskier assets. The price of gold in Telangana was the lowest on the second day of January 2020 at Rs.3,919. The price of gold for the month of January rose by 3.87%
• The gold prices in Telangana for the month of February opened at Rs.4,077 per gram due to the reports of outbreak of Coronavirus which played a role in the gold prices rising. The highest price the yellow metal touched was Rs.4,305 on 24 February as Covid-19 impacted the global markets forcing investors to turn towards gold which is considered to be a safe haven. The price of gold fluctuated and touched its lowest on 6 February at Rs.4,030 per gram as stock markets looked up due to monetary policy intervention by the Chinese Central Bank. The gold price closed at Rs.4,185 with the overall price of gold for the month of February rising by 2.64%.
• The month of March saw the gold prices opening at Rs.4,185 per gram and closing at Rs.4,150 per gram. The gold prices touched its highest on 6th March at Rs.4,443 as the outbreak of Coronavirus severely impacted the global markets forcing investors to turn to gold which is considered to be a safe haven. The price of yellow metal fell on 19th March at Rs.4,026 as investors sold their shares in order to hoard cash as global economy went through a turbulent time. The poor U.S job claims report also played a role in the price of yellow metal fluctuating throughout the month. Overall, the month of March turned out to be a disappointing month as the overall price of gold in Telangana declined by 0.83%.

Also Check Gold Price in Metro Cities

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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