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Udaipur was the capital of the former kingdom of Mewar. It was founded by Maharana Udai Singh of the Sisodia clan in 1553. Now it is a major city in Rajasthan, a popular tourist spot lined with restaurants, heritage hotels and museums. The city is centered around Lake Pichola, and is famed for its Rajputana charm and a lively arts market. The primary tourist attractions are the City Palace, the attached museum, the handicrafts village Shilpgram, Durbar Hall, Lake Pichola and Jagmandir Island.
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 prices 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.
24-karat gold prices: To buy 24-karat gold in Udaipur, you have to pay Rs. 29,690 as on March 11, 2016, up by just 0.6% from Rs. 29,510 a week ago. This price is only 2.25% lower than the price of gold in New Delhi, which was Rs. 30,374 on March 11.
22-karat gold prices: those who wish to purchase gold jewellery in Udaipur will have to fork out Rs. 27,730 for 22-karat gold (as on March 11). The precious metal was priced at Rs. 27,550 on March 2 – registering a rise of Rs. 180 (0.65%). The price rise of 22-karat gold and 24-karat has followed similar price rise patterns. Gold rate in New Delhi on March 11 was Rs. 28,400, around Rs. 670 higher than the rate in Udaipur.
Gold Rate Trend in Udaipur for January 2020 to March 2020 (per gram of 24 karat gold)
|1st Day||Rs.4,023 per gram||Rs.4,194 per gram||Rs.4,291 per gram|
|Last Day||Rs.4,194 per gram||Rs.4,379 per gram||Rs.4,229 per gram|
|Highest Price||Rs.4,256 per gram on 9 January||Rs.4,425 per gram on 25 February||Rs.4,497 per kg on 7, 8 and 9 March|
|Lowest Price||Rs.4,023 per gram on 1 January||Rs.4,163 per gram on 6 and 7 February||Rs.4,153 per gram on 18 and 19 March|
Quarterly Gold Rate in Udaipur from January 2020 to March 2020:
- In January, gold rates in Udaipur opened at Rs.4,023 per gram and closed at Rs.4,194 per gram. Gold hit its lowest in January on the first day of the month. However, the tensions between the Middle East and the US ensured that the prices of gold increased over the following days. On 9 January 2020, gold hit its highest rate and was at Rs.4,256 for a gram. The trade deal between China and the US ensured that the prices of gold fluctuated for the remainder of January. Overall, gold saw a 4.25% incline in its rates for the month.
- Gold prices increased in the month of February. After opening the month at Rs.4,194 per gram, the price of gold reduced and hit its lowest rate on 6 and 7 February and was at Rs.4,163 per gram. Following this, the prices of gold increased as investors shifted towards the bullion markets. Gold hit its highest rate on 25 February and was at Rs.4,425 per gram. Gold rates closed the month at Rs.4,379 per gram, seeing a 4.41% incline.
- The prices of gold in March saw a 1.44% decline. The main reason for the reduction in prices was the coronavirus outbreak. Gold opened the month at Rs.4,291 per gram and closed the month at Rs.4,229 per gram. The highest and lowest gold rates for the month were Rs.4,497 for a gram and Rs.4,153 per gram, respectively.
Gold Rate Trend in Udaipur for October 2019 to December 2019 (per gram of 24 karat gold)
|1st Day||Rs.3,901 per gram||Rs.3,983 per gram||Rs.3,936 per gram|
|Last Day||Rs.3,988 per gram||Rs.3,900 per gram||Rs.4,023 per gram|
|Highest Price||Rs.3,988 per gram on 31 October||Rs.3,992 per gram on 6 November||Rs.4,029 per gram on 29 December|
|Lowest Price||Rs.3,807 per gram on 1 October||Rs.3,900 per gram on 30 November||Rs.3,880 per gram on 12 December|
Quarterly Gold Rate in Udaipur from October 2019 to December 2019:
- The price of gold opened at Rs.3,901 per gram in Udaipur in October. Over the course of the month, the prices of gold increased by 2.23%. Due to traders waiting for clarity on the trade deal between the US and China, they shifted towards riskier assets. On 31 October 2010, the price of gold in Udaipur hit Rs.3,988 per gram.
- Gold prices saw a decline in the month of November. The prices of gold opened at Rs.3,983 per gram but saw a decline of 2.08% and closed at Rs.3,900 per gram. Traders invested in gold in November as the stock market bounced back from the previous month. As there were no rate cuts and the traders received some clarity regarding the trade deal, gold prices decreased in the month of November.
- The prices of gold saw an overall incline of 2.21% in Udaipur in December. Gold prices opened at Rs.3,936 per gram and closed at Rs.4,023 per gram. The impeachment inquiry of the US President and the value of the dollar impacted the prices of gold.
Gold Rate Trend in Udaipur for July 2019 to September 2019 (per gram of 24 karat gold)
|1st Day||Rs.3,499 per gram||Rs.3,581 per gram||Rs.3,989 per gram|
|Last Day||Rs.3,582 per gram||Rs.3,989 per gram||Rs.3,901 per gram|
|Highest Price||Rs.3,602 per gram on 21 - 23 July||Rs.4,013 per gram on 27 August||Rs.4,036 per gram on 5 September|
|Lowest Price||Rs.3,460 per gram on 2 July||Rs.3,571 per gram on 2 August||Rs.3,855 per gram on 15 - 17 September|
Gold Rate Trend in Udaipur for April 2019 to June 2019 (per gram of 24 karat gold)
|1st day||Rs.3,282 per gram||Rs.3,283 per gram||Rs.3,303 per gram|
|Last day||Rs.3,293 per gram||Rs.3,303 per gram||Rs.3,499 per gram|
|Highest price||Rs.3,298 per gram on 10 April||Rs.3,339 per gram on 15 May||Rs.3,520 per gram on 26 and 27 June|
|Lowest price||Rs.3,247 per gram from 20-22 April||Rs.3,247 per gram on 24 May||Rs.3,303 per gram on 1 June|
Gold Rate Trend in Udaipur for January 2019 to March 2019 (per gram of 24 karat gold)
|1st day||Rs.3,257 per gram||Rs.3,417 per gram||Rs.3,422 per gram|
|Last day||Rs.3,428 per gram||Rs.3,447 per gram||Rs.3,282 per gram|
|Highest price||Rs.3,326 per gram on 30 January||Rs.3,484 per gram on 20 and 21 February||Rs.3,422 per gram on 1 March|
|Lowest price||Rs.3,257 per gram on 1, 2, 3 and 7 January||Rs.3,396 per gram from 13-15 February||Rs.3,252 per gram on 30 March|
Gold rate trend in Udaipur for January 2019:
- The price of gold in Udaipur on 1 January 2019 was Rs.3,257 per gram and was steady till 3 January 2019. Through the month, the metal showed a positive trend amidst global tensions.
- The value of the dollar decreasing against other currencies due to a fall in the market, led to the increase in demand for the metal from investors.
- The price in Udaipur increased to a great extent compared to other cities due to higher demand amongst local jewelers.
- On 31 January, gold was valued at the highest at Rs.3,428 per gram resulting in a percentage incline of 5.25.
Gold Rate Trend in Udaipur for February 2019:
- Despite a relatively static start where gold traded at Rs.3,417 per gram on 1 February, there was a steady rise in the prices in Udaipur as markets remained volatile due to Brexit fears.
- Demand was on the upswing as orders from local jewellers was steady due to the low dollar rate, with the yellow metal trading at Rs.3,422 per gram on 10 February before dropping marginally to Rs.3,396 per gram on 14 February.
- Conflicting cues from the overseas market as well as a drop in local retail demand due to a recovering U.S. dollar resulted in price fluctuations, with the precious metal rising to Rs.3,484 per gram on 21 February.
- A slight drop in price was recorded towards the last week as overseas demand was muted after a more hawkish assessment by the Federal Reserve, resulting in gold ending the month at Rs.3,447 per gram to record a marginal rise of 0.87%.
Gold rate trend in Udaipur for March 2019:
- Gold rate in Udaipur declined at the start of March as the dollar gained value over other currencies. During the same time, stocks dipped in value too. This was the highest value for the month and was trading at Rs.3,422 per gram.
- On 7th March, the dollar declined in value in comparison to the Euro after the European Central Bank pushed its decision to hike rates of interest. This kept the value of the yellow metal from rising due to poor economic conditions.
- On 30th March, the precious metal declined to its lowest point for the month as the dollar strengthened and the precious was faced with poor global economic cues. On this day, the metal stood at Rs.3,252 per gram.
- The month ended with the metal trading at Rs.3,282 per gram, and a percentage decline of 4.09% was recorded for the month of March.
Gold Rate Trend in Udaipur for October 2018 to December 2018 (per gram of 24 karat gold)
|1st day||Rs.3,138 per gram||Rs.3,283 per gram||Rs.3,133 per gram|
|Last day||Rs.3,282 per gram||Rs.3,144 per gram||Rs.3,257 per gram|
|Highest price||Rs.3,288 per gram on 30 October||Rs.3,283 per gram on 1 and 2 November||Rs.3,257 per gram on 30 and 31 December|
|Lowest price||Rs.3,138 per gram on 1 October||Rs.3,144 per gram on 30 November||Rs.3,124 per gram on 2 and 3 December|
Gold Rate Trend in Udaipur for October 2018:
- The festive season saw an increase in demand for gold and the metal gained steadily after opening at a relatively weak Rs.3,138 per gram on 1 October.
- A strong dollar rate capped local gold gains as overseas industrial demand was on the decline due to the impact of the Sino-U.S. trade tariff dispute, which reduced overall demand for the precious metal.
- Gold rates in Udaipur rose to a monthly high of Rs.3,288 per gram on 30 October as seasonal retail demand and positive overseas cues boosted interest, though prices dipped to Rs.3,282 per gram when trading ended on 31 October.
Gold Rate Trend in Udaipur for November 2018:
- An overall decline in demand saw gold rates in Udaipur fall steadily this month despite opening strong at Rs.3,283 per gram on 1 November.
- Festive demand due to Diwali failed to boost prices as retail sales were muted as a high dollar rate made local gold purchases more expensive.
- Investor interest in the metal was also poor ahead of a possible series of rate hikes by the Federal Reserve and industrial demand remained stagnant.
- The end of the month saw gold prices drop to Rs.3,144 per gram on 30 November to record an overall fall of 4.23% over the course of the month.
Gold Rate Trend in Udaipur for December 2018:
- Steady gains in retail demand and positive market cues boosted gold rates in Udaipur this month, though the metal opened at a static Rs.3,133 per gram on 1 December.
- The rupee recovered marginally which boosted local jeweller demand as overseas investor interest also rose.
- Industrial demand declined marginally but stable retail sales and increased overseas offtake kept prices from falling.
- The partial U.S. government shutdown rattled markets and increased overall demand as gold traded at Rs.3,257 per gram on 31 December to record a 3.95% rise in price.
Gold Rate Trend in Udaipur for July 2018 to September 2018 (per gram of 24 karat gold)
|1st day||Rs.3,138 per gram||Rs.3,078 per gram||Rs.3,120 per gram|
|Last day||Rs.3,078 per gram||Rs.3,103 per gram||Rs.3,138 per gram|
|Highest price||Rs.3,159 per gram on 11 July||Rs.3,108 per gram on 28 and 29 August||Rs.3,174 per gram on 26 and 27 September|
|Lowest price||Rs.3,078 per gram from 29 - 31 July||Rs.3,026 per gram on 17 August||Rs.3,108 per gram from 3-5 September|
Gold rate trend in Udaipur for July 2018
- Gold opened at Rs.3,138 per gram on 1 July.
- The demand for the metal in Udaipur was steady and gold prices surged in the following days.
- The highest gold rate for the month was recorded on 11 July when the metal traded at Rs.3,159 per gram.
- The price of gold in Udaipur dropped during the last few days of the month as the value of the US dollar increased and investors did not gravitate towards safe-haven assets.
- Gold rate in Udaipur hit a monthly low of Rs.3,078 per gram on 29 July and remained unchanged till the end of the month.
- Gold rates in Udaipur declined by 1.91% in the month of July.
Gold rate trend in Udaipur for August 2018
- When trading for gold commenced on 1 August, the price of the metal stood at Rs.3,078 per gram.
- The demand for the metal at the beginning of the month was steady amid poor trend overseas.
- However, on 17 August, the demand for the precious metal from local jewellers declined and gold prices fell in Udaipur. The lowest gold rate for the month was recorded on this day when the metal traded at Rs.3,026 per gram.
- In the following days, the value of the US dollar declined compared to other apex currencies and gold rates in Udaipur inclined.
- The highest gold rate for the month in Udaipur was Rs.3,108 per gram which was recorded on 28 and 29 August.
- Though gold rates kept fluctuating throughout the month of August, the overall trend of gold rates in Udaipur was an incline of 0.81%.
Gold Rate Trend in Udaipur for September 2018
- The price of gold saw a slight increase during the month as frequent fluctuations across stock markets rattled investors, who looked to gold as a safe-haven asset.
- The precious metal opened the month at Rs.3,120 per gram as local demand was static, but industrial orders kept prices from dipping sharply.
- The falling rupee made gold imports more expensive and reduced retail demand for the metal, but demand picked up towards the end of the month.
- Gold prices in Udaipur reached a monthly high of Rs.3,174 per gram on 26 and 27 September as markets plunged on Brexit uncertainty.
- Prices fluctuated as the month closed, with the precious metal trading at Rs.3,138 per gram on 30 September, to record a rise in price of 0.57%.
Gold Rate Trend in Udaipur for April 2018 to June 2018 (per gram of 24 karat gold)
|1st day||Rs.3,154 per gram||Rs.3,227 per gram||Rs.3,203 per gram|
|Last day||Rs.3,227 per gram||Rs.3,206 per gram||Rs.3,159 per gram|
|Highest price||Rs.3,247 per gram on 20 and 21 April||Rs.3,239 per gram on 15 and 16 May||Rs.3,206 per gram on 2 June|
|Lowest price||Rs.3,154 per gram on 1 and 2 April||Rs.3,191 per gram on 22 and 23 May||Rs.3,149 per gram from 23 to 25 June and on 28 June.|
Gold Rate Trend in Udaipur for April 2018:
- Gold was priced at Rs.3,154 per gram in Udaipur when trading started for the first month of Q2 2018.
- The metal was at its lowest this month over the first two days, i.e., the 1st and 2nd, when it traded at Rs.3,154 per gram as the US dollar was strong initially before falling as the days progressed.
- For the remainder of the month, gold rates were on the incline, thanks to a number of positive changes in the Dollar-Gold dynamic, with the prices falling significantly, owing to shaky market conditions.
- On the 20th and 21st of April, gold was priced at Rs.3,247 per gram - the month’s highest rates as demand rose significantly, owing to a poor dollar.
- When the month ended, gold was priced at Rs.3,227 per gram.
- This month saw gold rate trends rise by 2.31% in Udaipur, thanks to a solid demand.
Gold Rate Trend in Udaipur for May 2018:
- Gold was still priced at Rs.3,227 per gram when trading began for the month of May in the Rajasthani city.
- This month recorded a considerable drop in demand as cues remained weak and the US dollar rose against other currencies.
- After trading consistently for the first two weeks, gold rates rose to Rs.3,239 per gram - the month’s highest figure on the 15th and 16th, thanks to strong demand.
- However, this fell to a monthly low in the subsequent week, when the metal traded at Rs.3,191 per gram over the 22nd and the 23rd of May.
- Gold prices picked up slightly by the end of the month and it traded at Rs.3,206 per gram on the final day.
- Price trends recorded a 0.65% decline this month as the dollar was strong, which pushed gold demand down.
Gold Rate Trend in Udaipur for June 2018:
- June’s trading opened with gold being priced at Rs.3,203 per gram.
- On the 2nd, the metal was trading at its highest of Rs.3,206 per gram for the month, thanks to a solid demand.
- As demand slowed down from the 3rd onwards, gold rates in the city also dropped consistently over the course of the month.
- The metal hit the lowest rate of Rs.3,149 per gram on a number of days i.e., from the 23rd to the 25th and on the 28th of June.
- When the month ended, gold prices were holding at Rs.3,159 per gram. This month saw gold rate trends decline by 1.37%, thanks to poor demand.
Gold Rate Trend in Udaipur for January 2018 to March 2018 (per gram of 24 karat gold)
|1st day||Rs.3,086 per gram||Rs.3,138 per gram||Rs.3,159 per gram|
|Last day||Rs.3,120 per gram||Rs.3,159 per gram||Rs.3,149 per gram|
|Highest price||Rs.3,171 per gram on 25 January||Rs.3,175 per gram on 20 February||Rs.3,182 per gram from 27 to 30 March|
|Lowest price||Rs.3,082 per gram on 5 January||Rs.3,092 per gram on 9 and 10 February||Rs.3,109 per gram on 20 March|
Gold Rate Trend in Udaipur for October 2017 to December 2017 (per gram of 24 karat gold)
|1st day||Rs.3,109 per gram||Rs.3,087 per gram||Rs.3,068 per gram|
|Last day||Rs.3,087 per gram||Rs.3,078 per gram||Rs.3,086 per gram|
|Highest price||Rs.3,133 per gram from 12 to 16 October||Rs.3,113 per gram on 20 and 21 November||Rs.3,086 per gram on 30 and 21 December|
|Lowest price||Rs.3,073 per gram on 27 and 28 October||Rs.3,057 per gram from 4 to 6 November||Rs.2,990 per gram on 14 December|
Gold Rate Trend in Udaipur for October 2017
- Gold was priced at Rs.3,109 per gram as trading opened in Udaipur in October.
- Prices were more or less steady during the first week as local demand was consistent in spite of fluctuations in international demand.
- Gold price in Udaipur rose to their monthly high of Rs.3,133 per gram from 12-16 October as festive shopping led to an increase in orders for the yellow metal.
- The weak U.S. Dollar also contributed to a rise in the price of gold, though this was a short-lived rally.
- The resurgent dollar led to gold prices stagnating for a while before prices rose on sharp investor uptake.
- Demand for gold declined steadily after Diwali as European industry reduced offtake due to a stable dollar.
- Local demand also fell in the wake of plunging demand for gold overseas, resulting in the metal trading at Rs.3,073 per gram on 23 & 24 October.
- Minor gains were recorded as the month drew to a close, with gold priced at Rs.3,087 per gram on 31 October.
Gold Rate Trend In Udaipur For November 2017:
- Gold was priced at Rs.3,087 per gram on 1 November as prices remained unchanged from the previous month due to steady demand.
- There was a steep drop in price as the week progressed due to a bull run by equity markets in the United States, as news of the new tax policy was released.
- Prices fell to a monthly low of Rs.3,057 per gram from 4-6 November due to the continued positive trading on the bourses, leading to a sharp decline in orders from overseas.
- Local demand was also on the decline in spite of it being the wedding season, putting more pressure on the precious metal’s price.
- Prices continued to fluctuate for the remainder of the month, with gold reaching its monthly high of Rs.3,113 per gram on 20 & 21 November.
- In spite of the late recovery, gold prices slid as the month drew to a close, trading at Rs.3,078 per gram on 30 November to register a loss of 0.29% in value over the course of the month.
Gold Rate Trend In Udaipur For December 2017:
- December began with gold trading at Rs.3,068 per gram, with the price falling due to a lowering of demand across sectors.
- The markets swung wildly over the first week due to the escalation of tensions between the United States and North Korea, though the dollar rate remained quite stable.
- Demand from Asian markets was muted due to the fluctuations, while local demand was also quite poor due to international trends.
- Prices dipped to a monthly low of Rs.2,990 per gram on 14 December as investors shied away from gold due to a market bull run.
- The holiday shopping season also boosted market performance and reduced reliance on bullion.
- Gold prices rose towards the end of the month as fears of monetary tightening due to rising inflation led to jittery markets.
- The yellow metal touched monthly highs of Rs.3,086 per gram on 30 & 31 December to register a rise in value of 0.58%.
Gold Rate Trend in Udaipur for July 2017 to September 2017 (per gram of 24 karat gold)
|1st day||Rs.3,063 per gram||Rs.3,003 per gram||Rs.3,079 per gram|
|Last day||Rs.3,003 per gram||Rs.3,056 per gram||Rs.3,109 per gram|
|Highest price||Rs.3,079 per gram on 2 July||Rs.3,056 per gram on 30 & 31 August||Rs.3,194 per gram from 8-10 September|
|Lowest price||Rs.2,917 per gram on 11 July||Rs.2,979 per gram on 7 August||Rs.3,071 per gram on 4 September|
Gold Rate Trend in Udaipur for July 2017:
- Gold rates in Udaipur started off on a strong note, with the metal trading at Rs.3,063 per gram.
- Prices went further up to Rs.3,079 per gram - the month’s highest rate - as demand for the metal peaked before dropping over the subsequent days.
- The implementation of GST was a major factor which pushed gold rates down this week.
- Local demand was so bad that gold rates in Udaipur hit a monthly low figure of Rs.2,917 per gram on the 11th of July.
- However, from the 11th onwards, there was a slight improvement in gold trading and the yellow metal’s rates picked up to end on a respectable note.
- On the final day of the month, gold traded at Rs.3,003 per gram.
- There was a 1.95% decrease in gold rate in Udaipur trends because gold price took a hit due to weak local demand and a strong US dollar.
Gold Rate Trend in Udaipur for August 2017:
- Gold opened at Rs.3,003 per gram on the 1st of August, but seemed to fluctuated on the lower side as the market was still recovering from GST’s implementation.
- Rates went down to as low as Rs.2,979 per gram by the 7th - proving the extreme low confidence investors had with regards to gold.
- From the 8th onwards, prices seemed to improve as a combination of economic and geopolitical factors pushed US dollar rates down.
- The 30th and the 31st of the month recorded the highest gold rates, with the metal trading at Rs.3,056 per gram.
- Gold price in Udaipur surged by 1.76% this month, following the positive cues seen in the global market and the increased demand witnessed in local circles.
Gold Rate Trend in Udaipur for September 2017:
- September’s gold trading was a follow up of the previous month's positive trend.
- Gold opened at Rs.3,079 per gram on the 1st of September but hit a monthly low figure of Rs.3,071 per gram on the 4th of the month.
- When reports of North Korea’s latest nuclear test hit the newsstand, all major markets plummeted, which led to gold rates rising up to Rs.3,194 per gram on the 8th of September.
- However, the US dollar recovered from the fall to bring gold rates in Udaipur down to a respectable sum.
- By the end of the month, gold prices in Udaipur had fallen, to trade at Rs.3,109 per gram.
Gold Rate Trend in Udaipur April 2017 to June 2017 (per gram of 24 karat gold)
|1st day||Rs.3,043 per gram||Rs.3,058 per gram||Rs.3,065 per gram|
|Last day||Rs.3,058 per gram||Rs.3,065 per gram||Rs.3,063 per gram|
|Highest price||Rs.3,118 per gram from 14 April to 16 April||Rs.3,065 per gram on 31 May||Rs.3,099 per gram from 7 June to 10 June|
|Lowest price||Rs.3,038 per gram on 10 and 11 April||Rs.2,976 per gram on 11 and 16 May||Rs.3,047 per gram from 2 June to 6 June|
Gold Price Trend in Udaipur for April 2017:
- When trading began for April, gold prices in Udaipur were recorded at Rs.3,043 per gram and remained the same for the next three days - till the 4th.
- However, as weak US economic data came to light, gold prices firmed up worldwide and consequently in India and Udaipur as well.
- On the 5th, gold prices went up to Rs.3,064 per gram due to a surge in demand.
- Towards the end of the week, i.e., on the 10th, gold rates in Udaipur reached their lowest of Rs.3,038 per gram before increasing gradually over the course of the next few days.
- On 13th, prices went up to Rs.3,092 per gram and then increased again to Rs.3,118 per gram on the 14th of the month - which was the highest gold rate for the month.
- Gold rates decreased gradually from the 15th to the end of the month as demand from local jewellers failed to pick up.
- During the last day of April, gold was priced at Rs.3,058 per gram - a Rs.15 increase from the first day’s rates.
Gold Rate Trend in Udaipur for May 2017:
- Gold started at Rs.3,058 per gram when trading began on the 1st of May.
- The 2nd saw prices increase marginally for the metal to trade at Rs.3,061 per gram. Rates remained the same till the 4th as demand didn’t fluctuate.
- As international bullion rates hit 7-month lows, gold prices in the Rajasthani city took a significant hit as well.
- Gold prices went from Rs.3,061 to Rs.3,000 on the 6th - making it one of the biggest single-day price drops for the year.
- Rates went further down to Rs.2,976 per gram on the 11th before continuing at the same rate till the 16th of May.
- Demand seemed to pick up from the 17th of May, which was indicative of a gradual price hike over the next couple months.
- By the 18th, prices had gone up to Rs.3,029 per gram and went further up to Rs.3,050 per gram by the 25th.
- As the demand was rising consistently, gold prices reached a monthly high of Rs.3,065 per gram on the 31st of the month.
- Gold price trends rose by 0.22% for the month of May owing to a considerable slowdown of the US dollar.
Gold Rate Trend in Udaipur for June 2017
- The month of June started with gold trading at Rs.3,065 per gram but fell to Rs.3,047 per gram on the 2nd.
- During the second week, gold rates surged massively as US dollar weakened significantly as uncertainties rose over Donald Trump’s presidency.
- On the 6th, gold was trading at Rs.3,047 per gram but went up by Rs.52 to reach Rs.3,099 per gram on the 7th.
- After the initial demand subsided, prices declined to Rs.3,064 per gram as buyers exercised caution.
- By the end of the 19th, gold prices had gone down to Rs.3,050 per gram as demand kept falling.
- For the next 10 or so days - till the 29th of June, gold traded at Rs.3,050 per gram in Udaipur due to stable demand.
- On the last day of June, however, gold prices increased to Rs.3,063 per gram - a Rs.13 day increase within a day.
- Despite the demand remaining more or less stable for most of the month, gold price trends went down by a marginal 0.06% in Udaipur for the month of June.
Gold Rate Trend in Udaipur for January 2016 to March 2016 (per gram of 24 karat gold)
|1st day||Rs.2,893 per gram||Rs.3,035 per gram||Rs.3,080 per gram|
|Last day||Rs.3,017 per gram||Rs.3,095 per gram||Rs.3,029 per gram|
|Highest price||Rs.3,060 per gram on the 23rd and 24th of January||Rs.3,101 per gram from the 25th of February to the 27th of February||Rs.3,080 per gram on the 1st of March|
|Lowest price||Rs.2,888 per gram from the 3rd to the 5th of January||Rs.3,034 per gram on the 4th and 5th of February||Rs.2,974 per gram from the 15th of March to the 17th of March|
Gold Rate Trend for Udaipur in January 2016
- On the 1st of January in Udaipur, gold traded at Rs.2,893 per gram on the 1st of January due to relatively low demand for this metal as well as an incline in the value of the U.S.Dollar. This rate was noted in the 2nd of January as well.
- However, the rate of gold declined the next day to trade at Rs.2,888 per gram and stayed steady at this price until the 5th of January.
- As the month progressed, there was a recovery noted in the price of gold due to an increase in the demand for this metal.
- On the 23rd and 24th of January, gold traded at its highest at Rs.3,060 per gram. This was due to a spike in the demand for this metal from investors and jewellers.
- As the month of January ended, an incline of 4.28% was noted in the rate of gold.
Gold Rate Trend for Udaipur in February 2016
- The rate of gold on the 1st of February was Rs.3,035 per gram which was higher than the rates noted during the month of January.
- However, due to a marginal increase in the demand for this metal, there was an increase of Rs.3 in the price of gold. But this demand, however could not be sustained and the rate of gold fell to a monthly low of Rs.3,034 per gram on the 4th and stayed steady at this rate on the 5th as well.
- As the month progressed, a number of variations were noted in the price of gold in Udaipur.
- Gold rate was steady at Rs.3,044 per gram from the 13th of February until the 15th of February. Gold then traded steadily at Rs.3,070 per gram from the 17th of February to the 24th of February.
- This precious metal traded at its highest from the 25th to the 27th of February at Rs.3,101 per gram but fell slightly after.
- On the last day of the month, this metal traded at Rs.3,095 per gram and recorded a incline of 1.97% in the price of gold.
Gold Rate Trend for Udaipur in March 2016
- There were a number of variations observed in the rate of gold during the month of March in Udaipur.
- Gold traded at Rs.3,080 per gram on the 1st of March and stayed steady at this rate the next day as well. This was also the highest at which gold traded for the month.
- However, due to a reduction in the demand for this metal, the rate of gold reduced to Rs.3,056 per gram. Gold was steady at this rate until until the 7th of March.
- Due to the U.S. Fed’s decision regarding interest rates, the rate of gold plunged to a monthly low of Rs.2,974 per gram from the 15th of January to the 17th of January.
- Due to positive market cues, the rate of gold was Rs.3,050 per gram from the 23rd of March to the 26th of March. However, this rate was not sustained and fell towards the end of the month.
- However, as the month progressed, the rate of gold declined to trade at Rs.3,029 per gram on the last day of the month, recording a decline of 1.65% in the price of gold.
|1st day||Rs.3,304 per gram||Rs.3,199 per gram||Rs.2,963 per gram|
|Last day||Rs.3,199 per gram||Rs.3,012 per gram||Rs.2,893 per gram|
|Highest price||Rs.3,304 per gram on 1st October||Rs.3,252 per gram from 3rd-6th November||Rs.2,963 per gram on 1st & 2nd December|
|Lowest price||Rs.3,157 per gram from 7th-13th October||Rs.3,003 per gram on 27th November||Rs.2,800 per gram from 23rd-28th December|
Gold Rate Trend for Udaipur in October 2016
- The rate of gold in Udaipur started off quite strongly but as the month progressed, fell due to a reduction in demand.
- Gold opened at Rs.3,304 per gram on 1st of October but prices reduced to Rs.3,273 per gram on 2nd October due to variations in market demand.
- Due to a decline in industrial demand, there was an overall decline in the demand for this precious metal, thereby decreasing gold rate.
- Towards the mid of the month, the rate of gold was steady at Rs.3,162 per gram until the 26th of October.
- Gold ended the month trading at Rs.3,199 per gram recording an overall decline of 3.17% in the rate of gold.
Gold Rate Trend for Udaipur in November 2016
- Continuing from the previous month’s trend, the rate of gold was quite high during the beginning but fell towards the end due to insufficient demand although the wedding season was going on.
- Gold traded at Rs.3,199 per gram on 1st November, increasing to Rs.3,252 per gram on the 3rd of November as markets were unsteady as U.S. elections drew nearer.
- On the 8th of November, the Prime Minister of India, Narendra Modi announced the ban of cash notes worth Rs.500 and Rs.1,000 in order to curb the spread of black money and corruption. This came to be known as demonetization and was responsible for sending the markets into a tizzy.
- As news of Donald Trump’s victory emerged, markets crashed and gold demand rose sharply, as the demonetisation policy led to a market crash in India.
- Towards the end of the month, the price of gold varied between Rs.3,074 per gram to Rs.3,021 per gram.
- Gold prices fell and traded at Rs.3,012 per gram on 30th November and registering an overall decline of 5.81%.
Gold Rate Trend for Udaipur in December 2016
- Due to markets falling and a reduction in demand throughout the world, the price of gold fell during the month of December.
- On the 1st of December the price of gold was Rs.2,963 per gram, which was quite low as compared to the price at the beginning of October and November.
- This was also the highest at which gold traded at during the month of December. However, prices steadily declined as the month progressed.
- Prices reached a quarterly low of Rs.2,800 per gram on 23rd December due to weak demand for this precious metal.
- Gold prices increased slightly towards the end of the month, trading at Rs.2,893 per gram on 31st December with a decline of 2.36% in gold rates.
|1st day||Rs.3,224 per gram||Rs.3,247 per gram||Rs.3,245 per gram|
|Last day||Rs.3,244 per gram||Rs.3,245 per gram||Rs.3,304 per gram|
|Highest price||Rs.3,287 per gram on 7th and 8th July||Rs.3,290 per gram on 23rd-26th August||Rs.3,304 per gram from 27th-30th September|
|Lowest price||Rs.3,207 per gram on 15th July||Rs.3,236 per gram from 8th-14th August||Rs.3,245 per gram on 1st and 2nd September|
|Trend||Increase in price||Decrease in price||Increase in price|
Gold Rate Trend in Udaipur for July 2016
- Gold traded at Rs.3,224 per gram at the start of the month as domestic demand was high.
- Prices continued to rise, with gold trading at its monthly high of Rs.3,287 per gram on 8th July on increased domestic demand.
- Prices fell as markets stabilised and demand lowered, with gold trading at Rs.3,207 per gram on 15th July.
- Prices rose marginally as domestic demand increased towards the end of the month, with gold trading at Rs.3,244 per gram on 31st July.
Gold Rate Trend inn Udaipur for August 2016
- Gold began the month at a stable Rs.3,247 per gram before increasing to Rs.3,257 per gram on 7th August as international demand spiked.
- Prices dipped marginally due to fluctuations in demand, selling at Rs.3,236 per gram on 8th August.
- A slump in currency markets led to demand for gold to increase, with prices rising to Rs.3,254 per gram on 15th August and reaching Rs.3,284 per gram on 19th August.
- Demand fell as markets stabilised, with gold trading at Rs.3,245 per gram on 31st August.
Gold Rate Trend in Udaipur for September 2016
- The price of gold was Rs.3,245 per gram on 1st September, with the price rising as the week progressed to Rs.3,291 per gram on 8th September on sustained overseas demand.
- Prices stayed constant at Rs.3,291 per gram till 17th September as domestic demand also rose due to the upcoming festive season.
- A dip in price due to international markets strengthening led to gold trading at Rs.3,274 per gram on 19th September.
- Prices picked up as the month ended and gold traded at Rs.3,304 per gram on 30th September.
|1st day||Rs. 2,988 per gram||Rs. 3,147 per gram||Rs.2,934 per gram|
|Last day||Rs. 3,147 per gram||Rs. 2,991 per gram||Rs.3,209 per gram|
|Highest price||Rs. 3,147 per gram on 29th and 30th of April||Rs. 3,169 per gram on 2nd and 3rd of May||Rs.3,212 per gram on 25th June|
|Lowest price||Rs. 2,957 per gram on 4th April||Rs. 2,991 per gram on the 30th and 31st of May||Rs.2,991 per gram on 1st June|
Gold Rate Trend of Udaipur in April 2016
- Gold traded at Rs. 2,988 per gram on the 1st of April.
- Gold rate fluctuated a lot in April but still managed to rise to Rs. 3,147 per gram by the end of the month.
Gold Rate Trend of Udaipur in May 2016
- Expectations of a rate hike by the U.S. Federal Reserve pushed down gold prices as gold stood at Rs. 2,991 in the third week of May.
- Rising dollar further led to the decline of gold in May as gold traded at Rs. 2,991 on the 31st of May.
Gold Rate Trend of Udaipur in June 2016
- Demand for gold was quite high despite conflicting trend overseas.
- Investors rushed to purchase this precious metal due to a possible exit of Britain from the European Union.
- There was a rise noted in the price of gold with few fluctuations seen throughout the month.
- The highest rate at which gold traded at was Rs. 3,209 per gram on the 25th of June.
- The lowest price of gold was noted on the 1st of June at Rs.2,991 per gram.
|1st day||Rs. 2,605 per gram||Rs. 2,781 per gram||Rs. 3,067 per gram|
|Last day||Rs. 2,781 per gram||Rs. 3,067 per gram||Rs. 2,988 per gram|
|Highest price||Rs. 2,788 per gram on January 28th||Rs. 3,067 per gram on February 27th to 29th||Rs. 3,090 per gram on March 2nd to 19th|
|Lowest price||Rs. 2,605 per gram from January 1st to 3rd||Rs. 2,781 per gram on February 1st||Rs. 2,991 per gram on March 20th to 22nd|
|Change||+ 6.75%||+ 10.28%||- 2.57%|
Gold Rate Trend of Udaipur in January 2016
- Gold traded at Rs.2,605 per gram on the 1st of January.
- Gold price rose by Rs.95 on the 7th of January at Rs.2,700 per gram owing to a weak dollar.
- Gold prices rose steadily over the month and hit the highest for the month at Rs. 2,788 per gram on January 28th.
Gold Rate Trend of Udaipur in February 2016
- Gold price did not witness much of a change from the last day of January and traded at Rs. 2,781 on the 1st of February.
- Bullion hit the highest for the month at Rs. 3,067 between February 27th and 29th.
- Gold closed the month at Rs. 3,067 per gram
Gold Rate Trend of Udaipur in March 2016
- Gold stood at Rs. 3,067 per gram on the first day of March.
- Gold held steady at Rs. 3,090 per gram between March 2nd and 19th. It was the highest for the month.
- Gold witnessed a decline as the month progressed and traded at Rs.2,988 per gram on the last day of March
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
- Also Check: Gold Rate in Rajasthan
Read more on Gold
- Significance Of Gold In Indian Culture
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