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Vadodara is the 3rd largest city in Gujarat. The city has over 2.2 million people and it is also a site of Lakshmi Vilas Palace where the Maharaja of Baroda and the Royal family resides. The city also has the largest University in Gujarat. It has been a cultural and educational centre and it had the first modern factory established in 1907. The large industrial unit’s establishment has paved way for the smaller enterprises.
Vadodara is also known as the cultural capital of Gujarat. There is enough cash flow in the city for people to invest in gold. The gold prices keep changing based on the international gold rates.
Gold Rate in Vadodara
The gold rate in Vadodara varies according to its purity. People get to buy 24 karat, 22 karat, 18 karat and 14 karat gold. 24 karat gold being the most expensive and 14 karat is the cheapest. Gold rate changes according to the international gold market. The prices of gold had fallen down significantly in 2015 and it picked up in January, 2016.
24 karat gold:
This is the purest form of gold. It includes 99.95% gold mass. This is a very soft metal and it cannot be used to make jewellery or other ornaments. The gold rate for 24 karat gold in Vadodara is Rs.29,650 per 10 grams as on 10th March, 2016.
22 karat gold:
22 karat gold it includes 91.6% gold mass and it is the highest quality gold. 22 karat gold is used to make jewellery and ornaments. 22 karat gold has a shiny yellow coat. The brightness of the 22 karat gold depends on the metal it is alloyed with. 22 karat gold is usually alloyed with silver or copper. When gold is mixed with copper, it gives a reddish tint. Zinc is also added to copper so that it neutralises the rose color and makes it more yellow. The best quality gold is when the 22 karat gold is alloyed with silver. This is the most common form of retail gold jewellery. It is worn off easy so special care has to be taken. The gold rate for 22 karat gold in Vadodara is Rs.27,720 per 10 grams as on 10th March, 2016.
18 karat gold:
This includes 75% of the gold mass and is the popular karat for jewellery. It provides enough strength to hold gemstones, diamonds and emeralds in place. Pink and rose gold are 18 karat.
14 karat gold:
It includes 58.3% gold mass and it is the cheapest type of gold jewellery. If alloyed with copper you get a dull bronze color. When alloyed with silver or nickel it will look white and it is known as white gold.
Gold Rate Trend in Vadodara for April 2016 to June 2016 (per gram of 24 karat gold)
|1st day||Rs. 2,905 per gram||Rs. 3,070 per gram||Rs.2,991 per gram on June 1st|
|Last day||Rs. 3,070 per gram||Rs. 2,895 per gram||Rs.3,209 per gram on 30th of June|
|Highest price||Rs.3,070 per gram on 30th of April.||Rs. 3,080 per gram on the 7th and 8th of May.||Rs.3,212 per gram on 27th of June|
|Lowest price||Rs. 2,880 per gram on the 4th of April.||Rs. 2,960 per gram from the 28th to the 31st of May.||Rs.2,991 per gram on June 1st|
Gold Rate Trend of Vadodara in April 2016
- Gold traded at Rs. 2,905 per gram on the 1st of April.
- Gold rate fluctuated a lot in April but still managed to rise to Rs. 3,070 per gram by the end of the month.
Gold Rate Trend of Vadodara in May 2016
- Expectations of a rate hike by the U.S. Federal Reserve pushed down gold prices as gold stood at Rs. 3,052 on May 4th.
- Rising dollar further led to the decline of gold in May as gold traded at Rs. 2,895 on the 31st of May.
Gold Rate Trend of Vadodara in June 2016
- Gold opened the month at Rs.2,991 per gram on the 1st of June.
- Gold scored the highest for the month between 25th and 27th of June at Rs.3,212 per gram.
- Gold closed the month at Rs.3,209 per gram on the 30th of June.
Gold Rate Trend in Vadodara for January 2016 to March 2016 (per gram of 24 karat gold)
|1st day||Rs. 2,540 per gram||Rs. 2,708 per gram||Rs. 2,975 per gram|
|Last day||Rs. 2,710 per gram||Rs. 2,960 per gram||Rs. 2.900 per gram|
|Highest price||Rs. 2,715 per gram on January 27th and 28th.||Rs. 2,975 per gram on February 26th and 27th.||Rs. 2,975 per gram from March 1st to 6th.|
|Lowest price||Rs. 2,540 per gram on January 1st.||Rs. 2,708 per gram on February 1st||Rs. 2,870 per gram from March 28th.|
Gold Rate Trend of Vadodara in January 2016
- Gold traded at Rs. 2,540 per gram on the 1st of January.
- Gold witnessed a steady rise in January and hit its highest for the month at Rs. 2,715 per gram on the 27th and 28th of January.
- Gold closed the month at Rs. 2,710 per gram.
Gold Rate Trend of Vadodara in February 2016
- Gold stood at Rs. 2,708 per gram on the 1st of February.
- Gold prices increased steadily in the first week of February and hit Rs. 2,815 per gram on the 6th of February.
- Gold hit its highest for the month on 27th and 28th February at Rs.2,975 per gram.
Gold Rate Trend of Vadodara in March 2016
- Gold price increased by Rs.15 from February 29th and held steady at Rs.2,975 per gram.
- Low demand led to a decline as gold was at its lowest for the month at Rs. 2,870 per gram on 28th of March.
Gold investment avenues in Vadodara
Gold is found in every household in India. People buy gold either as an investment or as a jewellery. Gold sales are higher during wedding season and festivals. Since gold is treated as a safe haven asset, investors buy gold so that they can protect themselves from the market fluctuations. Gold can be brought in Vadodara in the following ways:
- Market trade:
Gold can also be purchased from the comforts of your home now. You can have access to E-gold, futures and ETFs. You must however know that trading in gold is subject to risk. E-gold trade is done through National Spot Exchange. ETFs is traded on Bombay Stock Exchange.
- Over the counter purchases:
People prefer to look at the jewellery and trying it on before actually buying it. There are a various jewellers in the city from where people of Vadodara can buy. As Vadodara house the palace, the city is a hub for jewellers offering gold in various patterns and designs. Gold can also be brought in the form of gold coins and bars from the jewellers as well as the banks. You must know that buying gold from the bank is costlier as you get purity certificate.
- Also Check: Gold Rate in Gujarat
Also Check Gold Price in NearBy Cities of Vadodara
|Gold Rate In Ahmedabad||Gold Rate In Surat||Gold Rate In Rajkot|
|Gold Rate In Jamnagar||Gold Rate In Indore||Gold Rate In Mumbai|
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