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One of the highest demands for gold comes from the state of Maharashtra. Thane, popularly known as the ‘City of Lakes’, is a flourishing city in the state. A part of the Mumbai Metropolitan region, Thane is also home to a number of industries. With the city being quite prosperous as the third most industrialized district in the state, most of the residents invest in gold as a safe haven. Gold sales usually tend to go up during the festivals of Dussehra and Diwali, where it is considered auspicious to buy gold.
Gold Price in Thane
The price of gold varies in Thane usually depending on purity, with rates decreasing as the amount of the yellow metal reduces. 24 karat gold generally is priced more than 22 karat, 18k or 14k gold. People invest in gold in the form of jewelry or coins. Several other factors such as demand and supply, local cesses, import duties, and international market trends also influence the rate of gold.
Gold Rate Trend in Thane for October 2020 to December 2020 (per gram of 24 karat gold)
|1st Day||Rs.5,159 per gram||Rs.5,096 per gram||Rs.4,825 per gram|
|Last Day||Rs.5,162 per gram||Rs.4,826 per gram||Rs.4,994 per gram|
|Highest Price||Rs.5,231 per gram on 13 October||Rs.5,223 per gram on 10 November||Rs.5,038 per gram on 22 December|
|Lowest Price||Rs.4,914 per gram on 18 October and 19 October||Rs.4,825 per gram on 29 November||Rs.4,793 per gram on 2 December|
Quarterly Gold Rate in Thane from October 2020 to December 2020:
- Gold price in Thane opened the month of October at Rs.5,159 per gram and showed a marginally inclining trend for the month. The price of the yellow metal was at its highest on 13 October at Rs.5,231 per gram. At the end of the month, gold prices recovered marginally and closed at Rs.5,162 per gram, recording an overall incline of 0.05%.
- Price of gold in Thane for the month of November opened and closed at Rs.5,096 and Rs.4,826 for a gram, respectively. Gold rates remained unsteady throughout the month in the city. Over the course of the month, the prices of gold slumped by 5.29% in Thane.
- Price of gold in Thane opened the month of December at Rs.4,825 per gram and showed a marginally inclining trend for the month. The price of the precious metal was at its highest on 22 December at Rs.5,038 per gram. At the end of the month, gold prices recovered marginally and closed at Rs.4,994 per gram, recording an overall incline of 3.50%.
Gold Rate Trend in Thane for July 2020 to September 2020 (per gram of 24 karat gold)
|1st Day||Rs.4,836 per gram||Rs.5,291 per gram||Rs.5,250 per gram|
|Last Day||Rs.5,211 per gram||Rs.5,147 per gram||Rs.5,001 per gram|
|Highest Price||Rs.5,241 per gram on 30 July||Rs.5,541 per gram on 8 August||Rs.5,276 per gram on 2 September|
|Lowest Price||Rs.4,746 per gram on 5 July||Rs.5,136 per gram on 26 August and 28 August||Rs.4,926 per gram on 29 September|
Quarterly Gold Rate in Thane from July 2020 to September 2020:
- On 1 July 2020, gold prices in Thane were Rs.4,836 per gram. The gold rate in Thane increased by 7.75% but was at its lowest price on 5 July at Rs.4,746 per gram. Gold prices in Thane hit the highest on 30 July at Rs.5,241 per gram. By the end of the month, the gold rate in Thane was Rs.5,211 per gram.
- On 1 August 2020, the gold price in Thane were Rs.5,291 per gram. By the end of the month, gold prices fell by –2.72%. The highest and lowest prices of gold in Thane in August were Rs.5,541 per gram on 8 August and Rs.5,136 per gram on 26 and 28 August respectively. By the end of the month, the gold rate in Thane was Rs.5,147 per gram.
- In September, gold prices had an overall decline of –4.74% in Thane. Gold prices in Thane opened at Rs.5,250 per gram and closed at Rs.5,001 per gram. The highest gold price in Thane was on 2 September at Rs.5,276 per gram while the lowest price of gold in Thane was Rs.4,926 per gram on 29 September.
Gold Rate Trend in Thane for April 2020 to June 2020 (per gram of 24 karat gold)
|1st Day||Rs.4,158 per gram||Rs.4,641 per gram||Rs.4,702 per gram|
|Last Day||Rs.4,635 per gram||Rs.4,699 per gram||Rs.4,831 per gram|
|Highest Price||Rs.4,785 per gram on 27 April||Rs.4,757 per gram on 20 May||Rs.4,841 per gram on 25 June|
|Lowest Price||Rs.4,158 per gram from 1 – 5 April||Rs.4,534 per gram on 12 May||Rs.4,564 per gram on 8 March|
Quarterly Gold Rate in Thane from April to June:
- In Thane, gold opened the month of April at Rs.4,158 per gram. Over the month, the rates witnessed an inclining trend with the percentage change being 11.47%. The yellow metal recorded its highest and lowest price for the month on 27th and 1st of April.
- In May, the precious metal opened the month at Rs.4,641 per gram. There was an increase of Rs.6 for every gram when compared to the closing price of the previous month. The highest and lowest price for the month was recorded on the 20th and 12th of May with a gram costing Rs.4,757 and Rs.4,534 respectively. The overall performance of the metal witnessed an inclining trend in the city with the percentage change standing at 1.24%.
- The rates of gold jumped by 2.74% over the month of June in Thane. Gold opened the month at Rs.4,702 per gram, an incline of Rs.3 from the price charged on the final day of the previous month. The metal recorded its highest and lowest for the month on 25th and 8th of June with a gram being retailed for Rs.4,841 and Rs.4,564 respectively.
Gold Rate Trend in Thane for January 2020 to March 2020 (per gram of 24 karat gold)
|1st Day||Rs.3,985 per gram||Rs.4,179 per gram||Rs.4,263 per gram|
|Last Day||Rs.4,179 per gram||Rs.4,358 per gram||Rs.4,158 per gram|
|Highest Price||Rs.4,216 per gram on 9 January||Rs.4,410 per gram on 25 February||Rs.4,531 per gram on 7,8 and 9 March 2020|
|Lowest Price||Rs.3,985 per gram on 1 January||Rs.4,132 per gram on 7 February||Rs.4,116 per gram on 18 March 2020|
Quarterly Gold Rate in Thane from January 2020 to March 2020:
- With the increasing tensions between the United States of America and the Middle East along with the trade deal speculations between China and the United States of America, gold prices saw a major incline in gold prices for the month of January. Opening at Rs.3,985 per gram, the price of the metal increased throughout the month due to safe-haven demand. Gold hit its highest price of the month in the second week of the month at Rs.4,216 per gram on 9 January. However, after hitting its monthly high, the price of the metal dipped substantially in the market with the trade deal being finalised between China and the United States of America. Traders shifted from the bullion market to the stock market with higher risk appetite. By 15 January, the price of the metal had hit Rs.4,074 per gram. In the last two weeks of the month, gold prices recovered marginally and closed the month at an overall incline with a percentage change of 4.86.
- For the month of February, the metal recorded an overall incline, however, the percentage of the incline was much lesser when compared to January. The price of the metal opened the month at Rs.4,179 per gram and hit its lowest price of the month in the first week at Rs.4,132 per gram on 7 February. With reports increasing about an outbreak of a possible pandemic, China was severely affected. The country was locked down which resulted in trade restrictions all over the world. With mixed trends in the market, the price of the metal in the middle of the month was Rs.4,174 per gram. In the following two weeks, gold prices increased and the metal hit its highest price of the month at Rs.4,410 per gram on 25 February. At the end of the month, gold closed at Rs.4,358 per gram on 29 February with a percentage incline of 4.28.
- March turned out to be the worst for the traders who had invested in the bullion market. With the increasing effect of Coronavirus all over the world and on the global economy, the price of the metal fell due to panic in the market. Opening at Rs.4,263 per gram on 1 March, the price of the metal increased in the first week of the month as investors awaited on a possible rate cut by the United States Federal Reserve to mitigate the losses incurred because of the effect of COVID-19 on the economy. The highest price of the metal was seen in the first and second week of the month at Rs.4,531 per gram from 7 March to 9 March. In the third week of March, gold suffered major losses with investors selling out their assets for cash and to survive in a crashing market. However, poor job data from the United States of America limited the losses for gold even though the dollar value showed an inclining trend. At the end of the month, gold closed the month at Rs.4,158 per gram recording a percentage decline of 2.46.
Gold investment avenues in Thane
Gold has always been a popular mode of investment in Thane. People in the city are quite fascinated with gold jewelry.The sale of the yellow metal usually sees a rise during the wedding season and festivals. Apart from wealth accumulation, gold can also be used to avail loans from banks. The government has also introduced new gold schemes to help residents invest better. A few other investment options are mentioned as under:
Over-the-counter: Thane jewellers offer a number of gold products at different prices, thereby catering to a diverse consumer base. With Thane having a number of popular showrooms that sell BIS hallmarked gold, most of the people in the city throng these stores to purchase gold in the form of jewelry. Some stores also sell gold bars and coins, that come with a purity certificate.
Market trade: Thanks to the Internet, one does not need to wait in long queues, especially during festivals, to purchase gold. The consumer can buy Gold ETFs, futures contracts and E-gold online from certified dealers. The Mumbai Stock Exchange and National Stock Exchange (NSE) also provide a platform for people who wish to trade in gold.
**Disclaimer: The gold rates mentioned above are not constant. They are subject to change as per the market conditions.**
- Also Check: Gold Rate in Maharashtra
Also Check Gold Price in NearBy Cities of Thane
|Gold Rate In Nashik||Gold Rate In Solapur||Gold Rate In Amravati||Gold Rate In Nanded|
|Gold Rate In Jalgaon||Gold Rate In Kolhapur||Gold Rate In Mumbai||Gold Rate In Nagpur|
|Gold Rate In Pune||Gold Rate In Aurangabad||Gold Rate In Surat||Gold Rate In Sangli|
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