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The urban population of Udaipur was about 608,426 as per the 2011 Census. It average literacy rate is 90.43%. The main industries in Udaipur are the handicraft and cottage industry, tourism and agriculture. Udaipur is one of the first 20 cities shortlisted by the Union Government under the Smart Cities project.
Gold price in Udaipur
Gold rates follow the basic principles of supply and demand. Since much of gold in India is imported, prices in the international market impact the prices of the precious metal in Udaipur. The prices shoot up in the wedding season because of the large-scale purchasing of gold jewellery and gift items.
Gold is mainly purchased in 24-karat (99.9% purity) for gold bars and coins, and in 22-karat (91.6% purity) for gold jewellery. The 22-karat gold is mixed with metals such as copper, silver and nickel to make it more suitable for jewellery-making. Ornaments are also made of 20-karat, 18-karat and 14-karat versions of gold. These, however, are not very popular as their resale value is lower.
Gold Rate Trend in Udaipur from July 2022 to September 2022
|1st Day||Rs.5,128 per gram||Rs.5,044 per gram||Rs.4,983 per gram|
|Last Day||Rs.5,065 per gram||Rs.5,052 per gram||Rs.4,983 per gram|
|Highest Price||Rs.5,160 per gram on 5 July||Rs.5,144 per gram on 14 August, and 15 August||Rs.5,010 per gram on 6 September|
|Lowest Price||Rs.4,965 per gram on 18 July||Rs.5,023 per gram on 23 August||Rs.4,883 per gram on 27 September|
Quarterly Gold Rate in Udaipur from July 2022 to September 2022
- On 1 July 2022, the price of gold in Udaipur was Rs.5,182 per gram. Gold rates fell by the end of the month and closed at Rs.5,065 for a gram. Gold prices declined by -1.24% over the course of the month in Udaipur.
- In Udaipur, the month of August opened with gold price standing at the rate of Rs.5,044 per gram. Gold prices in Udaipur recorded the lowest for the month on 23 August when a gram of the 24-karat gold was being traded for Rs.5,023. Gold reached its highest price point of Rs.5,144 per gram on 14 August and 15 August. The overall performance of the yellow metal witnessed a inclining trend wherein the percentage change stood at 0.15%.
- In Udaipur, the month of September opened with gold price standing at the rate of Rs.4,983 per gram. Gold prices in Udaipur recorded the lowest for the month on 27 September when a gram of the 24-karat gold was being traded for Rs.4,883. Gold reached its highest price point of Rs.5,010 per gram on 6 September.
Gold Rate Trend in Udaipur from April 2022 to June 2022
|1st Day||Rs.5,128 per gram||Rs.5,202 per gram||Rs.5,097 per gram|
|Last Day||Rs.5,202 per gram||Rs.5,133 per gram||Rs.5,007 per gram|
|Highest Price||Rs.5,312 per gram on 18 April and 19 April||Rs.5,202 per gram on 1 May||Rs.5,196 per gram on 13 June|
|Lowest Price||Rs.5,097 per gram on 4 April, 5 April, and 6 April||Rs.4,950 per gram on 18 May||Rs.5,007 per gram on 30 June|
Quarterly Gold Rate in Udaipur from April 2022 to June 2022
- Gold rates in Udaipur for the month of April opened at Rs.5,128 per gram and closed at Rs.5,202 for a gram. The prices of gold fluctuated throughout the month in the city. Gold prices increased by 1.44% in Udaipur in April.
- On the first day of May, gold prices in Udaipur were Rs.5,202 for a gram. By the end of the month, the prices of gold fell and were Rs.5,133 for a gram. Gold prices fell by 1.32% over the course of the month in Udaipur.
- In Udaipur, the month of June opened with gold price standing at the rate of Rs.5,097 per gram. Gold prices in Udaipur recorded the lowest for the month on 30 June when a gram of the 24-karat gold was being traded for Rs.5,007. The overall performance of the yellow metal witnessed a declining trend wherein the percentage change stood at 1.76%.
Gold investment in Udaipur
Gold is as much an investment as an adornment and auspicious metal in India. Indians buy gold ornaments and articles for weddings, birthdays, anniversaries and any festival or religious occasions. Gold is part of the investment in almost every Indian household. Gold ornaments are a store of money for Indians and we do not hesitate to pawn our jewellery or sell it off when urgently required.
Udaipur has its share of jewellery shops, and ethnic Rajput jewellery is popular both among the locals and tourists. Investment in gold is made in two major forms in Udaipur, as in most other cities in the country:
Physical gold - Jewellery and gift articles are the most popular gold investment options in Udaipur. People generally buy gold at lower prices and sell them or pawn them when the prices are high. But during the wedding season, people buy gold irrespective of its price. Gold coins and bullions are also bought as an investment. The best quality gold coins/bars can be obtained from banks and other authorised financial firms, but jewellers also sell the same products for less commission.
Market trade - Trading in paper gold is no longer a new concept in India. Several trading options such as gold exchange traded funds (ETFs), e-gold, futures trading and sovereign gold bonds are open to investors and speculators. Though these are not very popular in Udaipur currently, individuals interested in experimenting are making the most of the benefits of these investment options.
Also Check Gold Price in NearBy Cities of Udaipur
FAQs on Gold rate in Udaipur
- How is the gold rate in Udaipur determined?
In Udaipur, the gold rate is determined by several factors like demand, inflation, interest rates, currency fluctuations, government policies, and more.
- What is the current gold price trend in Udaipur?
Since the start of the year, the gold price trend in Udaipur has looked impressive. With local demand for the metal rising exponentially, the gold markets have seen an inflationary trend in gold prices in recent months.
- What are the different methods of investing in gold in Udaipur?
In Udaipur, the various forms of gold investment are gold jewellery, gold mutual funds, digital gold, gold ETFs, sovereign gold bonds, etc.
- How to check gold in Udaipur?
Hallmarking is a process used to indicate the purity of gold. When purchasing gold in Udaipur, check the hallmarking, Bureau of Indian Standards (BIS) logo, Jewellers' Identification Mark and Number.
- How can I check if the gold jewellery I have purchased in Udaipur is authentic?
When buying gold in Udaipur, you can check its purity by immersing it in water. If it drops to the bottom, it indicates that gold is pure. Bringing your gold near a magnet is another way to determine if it is pure or not. If gold is pure, it will not be attracted to the magnet.
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