Gold Rate in Visakhapatnam Today

  • Today's Gold Rate in Visakhapatnam ( 17 Oct 2021 )

    ₹ 4,465
    Today's Gold Rate (22K) per gram

    Compare 22K & 24K Gold Rate In Visakhapatnam (Today & Yesterday)

    Today
    Yesterday
    Rate Change
    Standard Gold (22 K) ( 1 gram ) ₹ 4,465 ₹ 4,515 ₹ -50 ↓
    Standard Gold (22 K) ( 8 grams ) ₹ 35,720 ₹ 36,120 ₹ -400 ↓
    Pure Gold (24 K) ( 1 gram ) ₹ 4,688 ₹ 4,741 ₹ -53 ↓
    Pure Gold (24 K) ( 8 grams ) ₹ 37,504 ₹ 37,928 ₹ -424 ↓

    Daily Gold Rates

    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    16 Oct 2021 ₹ 4,465 ₹ 35,720 ₹ 4,688 ₹ 37,504
    15 Oct 2021 ₹ 4,515 ₹ 36,120 ₹ 4,741 ₹ 37,928
    14 Oct 2021 ₹ 4,505 ₹ 36,040 ₹ 4,730 ₹ 37,840
    13 Oct 2021 ₹ 4,444 ₹ 35,552 ₹ 4,666 ₹ 37,328
    12 Oct 2021 ₹ 4,443 ₹ 35,544 ₹ 4,665 ₹ 37,320
    11 Oct 2021 ₹ 4,419 ₹ 35,352 ₹ 4,640 ₹ 37,120
    10 Oct 2021 ₹ 4,438 ₹ 35,504 ₹ 4,660 ₹ 37,280
    09 Oct 2021 ₹ 4,438 ₹ 35,504 ₹ 4,660 ₹ 37,280
    08 Oct 2021 ₹ 4,413 ₹ 35,304 ₹ 4,634 ₹ 37,072
    07 Oct 2021 ₹ 4,411 ₹ 35,288 ₹ 4,632 ₹ 37,056

    Weekly & Monthly Graph of Gold Rate in Visakhapatnam (1 gram)

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    *Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.

    Gold Price in Visakhapatnam

    Visakhapatnam, shortly known as Vizag, is one of the largest cities in Andhra Pradesh and is also known for having its own port along the coast which leads to the Bay of Bengal. In this page, we will give you all the information regarding gold and gold rate in Visakhapatnam.

    Residents of Visakhapatnam mostly view the yellow precious metal as a traditional form of investment. Gold rates in Visakhapatnam are subject to various developments in India and across the world. Gold prices in Visakhapatnam are, however, also dependent on the local taxes and transportation charges in addition to various additional costs charged by jewelry stores across the city.

    Gold in Vizag is mostly bought during the wedding season, festivals such as Diwali and auspicious occasions such as Akshaya Tritiya which witnesses maximum rush with customers making a beeline at jewelry stores across the city to avail of the attractive discounts. Gold in Visakhapatnam is bought in the form of intricate wedding jewelry, gold coins and bars. Traditionally, South India has been the largest consumer of gold with prominent jewelry chains dotting across the region. There are over 300,000 jewelers across India including small businesses.

    Trend of Gold Rate in Visakhapatnam for August 2021 (rates per gram of 24 karat gold)

    Parameter Gold price (24 karat)
    August 1 Rate Rs.4,775 per gram
    August 31 Rate Rs.4,689 per gram
    Highest Rate in August Rs.4,909 per gram on 2 August
    Lowest Rate in August Rs.4,592 per gram on 10 and 11 August
    Overall Performance Decline
    Percentage Change -1.80%

    Trend of Monthly Gold Rate in Visakhapatnam for August 2021:

    • In Visakhapatnam, the rate of gold for the month of August opened at Rs.4,775 per gram. When compared to the closing rate of the month of July 2021, there were no changes in the price of gold.
    • The highest price of the precious yellow metal recorded during the month was Rs.4,909 per gram and was recorded on 2nd August 2021. The lowest recorded price was on 10th and 11th of August when a gram of the 24-karat gold was being sold for Rs.4,592 per gram. Gold closed the month standing at the rate of Rs.4,689 per gram.
    • The overall performance of the precious metal witnessed a fall of -1.80% during the month in Visakhapatnam.

    Trend of Gold Rate in Visakhapatnam for July 2021 (rates per gram of 24 karat gold)

    Parameter Gold price (24 karat)
    July 1 Rate Rs.4,665 per gram
    July 31 Rate Rs.4,775 per gram
    Highest Rate in July Rs.4,901 per gram on 17 July
    Lowest Rate in July Rs.4,665 per gram on 1 July
    Overall Performance Incline
    Percentage Change 2.36%

    Trend of Monthly Gold Rate in Visakhapatnam for July 2021:

    • In Visakhapatnam, the gold rate for the month of July opened at Rs.4,665 per gram. When compared to the closing rate of the previous month, the price of gold witnessed a hike of Rs.34 per kg.
    • The highest price of the precious yellow metal recorded during the month was Rs.4,901 per gram and was recorded on 17th July 2021. The lowest recorded price was on the 1st of July when a gram of the 24-karat gold was being sold for Rs.4,665 per gram. Gold closed the month standing at Rs.4,775 per gram.
    • The overall performance of the precious yellow metal witnessed an increase of 2.36% during the month in Visakhapatnam.

    Trend of Gold Rate in Visakhapatnam for June 2021 (rates per gram of 24 karat gold)

    Parameter Gold price (24 karat)
    June 1 Rate Rs.5,030 per gram
    June 30 Rate Rs.4,631 per gram
    Highest Rate in June Rs.5,040 per gram on 3 June
    Lowest Rate in June Rs.4,610 per gram on 21 June
    Overall Performance Decline
    Percentage Change -7.93%

    Trend of Monthly Gold Rate in Visakhapatnam for June 2021:

    • The rate of gold in Visakhapatnam, for the month of June opened at Rs.5,030 per gram. There was an overall declining trend in the price of the precious metal over the month.
    • The highest price of the precious yellow metal recorded during the month was Rs.5,040 per gram and was recorded on 3rd June 2021. The lowest price was recorded on 21st of June when a gram of the 24-karat gold was being sold for Rs.4,610 per gram. Gold closed the month standing at Rs.4,631 per gram.
    • The overall performance of the precious yellow metal witnessed a dip of –7.93% during the month in Visakhapatnam.

    Trend of Gold Rate in Visakhapatnam for May 2021 (rates per gram of 24 karat gold)

    Parameter Gold price (24 karat)
    May 1 Rate Rs.4,777 per gram
    May 31 Rate Rs.5,007 per gram
    Highest Rate in May Rs.5,030 per gram on 26 and 27 May
    Lowest Rate in May Rs.4,777 per gram on 1 May
    Overall Performance Incline
    Percentage Change 4.81%

    Trend of Monthly Gold Rate in Visakhapatnam for May 2021:

    • Gold prices in Visakhapatnam for the month of May opened at Rs.4,777 per gram and closed at Rs.5,007 per gram.
    • The highest and lowest rates that the yellow metal touched for the month were Rs.5,007 per gram (on 26 May and 27 May) and Rs.4,777 per gram (on 1 May), respectively.
    • Overall, gold rates jumped by 4.81% over the course of the month in the city.

    Trend of Gold Rate in Visakhapatnam for April 2021 (rates per gram of 24 karat gold)

    Parameter Gold price (24 karat)
    April 1 Rate Rs.4,544 per gram
    April 30 Rate Rs.4,599 per gram
    Highest Rate in April Rs.4,920 per gram on 22 April
    Lowest Rate in April Rs.4,544 per gram on 1 April
    Overall Performance Incline
    Percentage Change 1.21%

    Trend of Monthly Gold Rate in Visakhapatnam for April 2021:

    • In April, the price of gold in Visakhapatnam opened at Rs.4,544 for a gram. However, by the end of the month, gold rates grew and closed at Rs.4,599 per gram.
    • Gold rates rose by 1.21% over the course of the month in Visakhapatnam.
    • The lowest and highest prices that the yellow metal hit for the month were on 1 April and 22 April and were at Rs.4,544 per gram and Rs.4,920 per gram, respectively.

    Trend of Gold Rate in Visakhapatnam for March 2021 (rates per gram of 24 karat gold)

    Parameter Gold price (24 karat)
    March 1 Rate Rs.4,697 per gram
    March 31 Rate Rs.4,511 per gram
    Highest Rate in March Rs.4,697 per gram on 1 March
    Lowest Rate in March Rs.4,511 per gram on 30 March and 31
    Overall Performance Decline
    Percentage Change -3.95%

    Trend of Monthly Gold Rate in Visakhapatnam for March 2021:

    • In Visakhapatnam, the prices of gold opened and closed at Rs.4,697 per gram and Rs.4,511 per gram, respectively which incidentally were also the highest and lowest rates for the month of March respectively.
    • Overall, gold rates fell by 3.95% in the city.
    • Gold rates fluctuated throughout the month in Visakhapatnam, hitting its lowest rate on 30 March and 31 March.

    Trend of Gold Rate in Visakhapatnam for February 2021 (rates per gram of 24 karat gold)

    Parameter Gold price (24 karat)
    February 1 Rate Rs.5,018 per gram
    February 28 Rate Rs.4,771 per gram
    Highest Rate in February Rs.5,018 per gram on 1 February
    Lowest Rate in February Rs.4,690 per gram on 19 February
    Overall Performance Decline
    Percentage Change –4.92%

    Trend of Monthly Gold Rate in Visakhapatnam for February 2021:

    • Gold prices in Visakhapatnam in February opened at Rs.5,018 per gram for 24 karat gold. Gold rates started to decline steadily since then, with this remaining the highest price for the month of February in the city.
    • The lowest gold rate in Visakhapatnam was on 19 February when it sunk to Rs.4,690 per gram. However, the price increased a bit after that to settle at Rs.4,771 per gram by the last day of the month.
    • Overall, gold prices in Visakhapatnam were on a steady decline throughout the month of February with a percentage change of –4.92%.

    Trend of Gold Rate in Visakhapatnam for January 2021 (rates per gram of 24 karat gold)

    Parameter Gold price (24 karat)
    January 1 Rate Rs.4,965 per gram
    January 31 Rate Rs.4,996 per gram
    Highest Rate in January Rs.5,950 per gram on 30 January
    Lowest Rate in January Rs.4,838 per gram on 17 January
    Overall Performance Incline
    Percentage Change 0.62%

    Trend of Monthly Gold Rate in Visakhapatnam for January 2021:

    • On 1 January 2021, the price of gold in Visakhapatnam was at Rs.4,965 per gram. However, by the end of the month, gold prices increased by 0.62% and were at Rs.4,996 for a gram.
    • On 17 January, gold rates hit its lowest rate for the month and were at Rs.4,838 per gram.
    • On 30 January, the prices of the yellow metal touched its highest rate for the month and were at Rs.5,950 for a gram.

    Trend of Gold Rate in Visakhapatnam for December 2020 (rates per gram of 24 karat gold)

    Parameter Gold price (24 karat)
    December 1 Rate  Rs.4,759 per gram
    December 31 Rate Rs.4,960 per gram
    Highest Rate in December Rs.5,017 per gram on 21 December
    Lowest Rate in December Rs.4,759 per gram on 1 December
    Overall Performance Incline
    Percentage Change 4.22%

    Trend of Monthly Gold Rate in Visakhapatnam for December 2020:

    • In Visakhapatnam, gold opened the month of December at Rs.4,759 per gram. The price of the yellow metal was down by Rs.117 for every gram when compared to the closing price of the previous month. The opening price of gold was the lowest recorded price for the month.
    • Over the month, the price of gold witnessed an inclining trend in the rates. The yellow metal recorded its highest price for the month on 21st December when a gram was retailed for Rs.5,017.
    • Gold price in Visakhapatnam closed the month at Rs.4,960 per gram. The percentage change recorded in the rates stood at 4.22%.

    Trend of Gold Rate in Visakhapatnam for November 2020 (rates per gram of 24 karat gold)

    Parameter Gold price (24 karat)
    November 1 Rate Rs.5,194 per gram
    November 30 Rate Rs.4,876 per gram
    Highest Rate in November Rs.5,302 per gram on 10 November
    Lowest Rate in November Rs.4,876 per gram on 30 November
    Overall Performance Decline
    Percentage Change -6.12%

    Trend of Monthly Gold Rate in Visakhapatnam for November 2020:

    • Gold prices in Visakhapatnam started off at the rate of Rs.5,194 per gram. Until 6th November, the prices fluctuated by a Rupee or two and wobbled between the rates of Rs.5,192 per gram to Rs.5,194 per gram.
    • The prices started increasing from the second week wherein it had recorded the highest price for the month standing at the rate of Rs.5,302 per gram on 10 November 2020.
    • Gold rates in Visakhapatnam started witnessing a declining trend during the second half of the month and it closed the month at the lowest recorded rate for the month wherein it stood at the rate of Rs.4,876 per gram.
    • The overall performance of prices of gold in Visakhapatnam for the month of November witnessed a decline of –6.12%.

    Trend of Gold Rate in Visakhapatnam for October 2020 (rates per gram of 24 karat gold)

    Parameter Gold price (24 karat)
    October 1 Rate  Rs.5,066 per gram
    October 31 Rate  Rs.4,998 per gram
    Highest Rate in October Rs.5,131 per gram on 12 October
    Lowest Rate in October Rs.4,904 per gram on 20 October
    Overall Performance  Decline
    Percentage Change -1.34%

    Trend of Gold Rate in Visakhapatnam for September 2020 (rates per gram of 24 karat gold)

    Parameter Gold price (24 karat)
    September 1 Rate Rs.5,221 per gram
    September 30 Rate Rs.5,354 per gram
    Highest Rate in September Rs.5,408 per gram on 21 September
    Lowest Rate in September Rs.5,019 per gram on 26 September
    Overall Performance Incline
    Percentage Change 2.55%

    Trend of Monthly Gold Rate in Visakhapatnam in September 2020:

    • In the month of September, gold rate in Visakhapatnam opened at the rate of Rs.5,221 per gram on 1 September. The price of gold fluctuated throughout the month.
    • The precious metal recorded the highest price on 21 September 2020 wherein it was being traded at the rate of Rs.5,408 per gram. The lowest price was recorded at the rate of Rs.5,019 per gram on 26 September 2020.
    • The main reason behind the dip in the price of gold was the recovery in the value of U.S. Dollar which made investors increase their risk appetite.
    • Although the prices dipped to some extent, by the end of the month, the prices of the yellow metal recovered marginally and closed at Rs.5,354 per gram on 31 September. The overall increase in its performance was 2.55%.

    Trend of Gold Rate in Visakhapatnam for August 2020 (rates per gram of 24 karat gold)

    Parameter Gold price (24 karat)
    August 1 Rate  Rs.5,583 per gram
    August 31 Rate  Rs.5,360 per gram
    Highest Rate in August Rs.5,914 per gram on 8 August
    Lowest Rate in August Rs.5,359 per gram on 30 August
    Overall Performance  Decline
    Percentage Change -3.99%

    Trend of Monthly Gold Rate in Visakhapatnam for August 2020:

    • Gold prices in Visakhapatnam for the month of August opened and closed at Rs.5,583 per gram and Rs.5,360 per gram, respectively. Overall, gold prices reduced by 3.99% over the course of the month in the city.
    • Gold prices increased for the first 8 days of the month and hit its highest rate on 8 August 2020 and were at Rs.5,914 per gram. After fluctuating over the next few days, gold prices declined from 20 August and hit its lowest rate for the month on 30 August 2020.

    Trend of Gold Rate in Visakhapatnam for July 2020 (rates per gram of 24 karat gold)

    Parameter Gold price (24 karat)
    July 1 Rate Rs.5,049 per gram
    July 31 Rate Rs.5,561 per gram
    Highest Rate in July Rs.5,561 per gram on 31 July
    Lowest Rate in July Rs.5,049 per gram on 1 July
    Overall Performance Incline
    Percentage Change 10.14%

    Trend of Monthly Gold Rate in Visakhapatnam for July 2020:

    • The price of gold in Visakhapatnam in the month of July was at an incline of 10.14% driven by global economic factors.
    • The highest gold rate was on 31 July, at Rs.5,561 per gram, while the lowest gold price was on 1 July at Rs.5,049 per gram.
    • The dip in gold prices in Visakhapatnam was due to the impact of the coronavirus, with news of successful vaccine trials driving investors towards riskier assets such as equities after many months. However, the continuing slowdown on a global level, combined with the slump of the US dollar, resulted in investors looking to safe-haven investments such as gold, leading to increase in prices.

    Trend of Gold Rate in Visakhapatnam for June 2020 (rates per gram of 24 karat gold)

    Parameter Gold price (24 karat)
    June 1 Rate Rs.4,917 per gram
    June 30 Rate Rs.5,067 per gram
    Highest Rate in June Rs.5,067 per gram on 30 June
    Lowest Rate in June Rs.4,837 per gram on 8 June
    Overall Performance Incline
    Percentage Change 3.05%

    Trend of Monthly Gold Rate in Visakhapatnam for June 2020:

    • During the month of June, the yellow metal opened at the rate of Rs.4,917 per gram in Visakhapatnam. By the second week, the lowest price of gold was recorded for the month on 8 June 2020 wherein it stood at the rate of Rs.4,837 per gram. For the rest of the month, the prices generally depicted an upward trend.
    • The demand of the yellow metal increased multiple times as the number of COVID-19 positive cases kept increasing, especially in India and USA. The overall economy and business growth have been stunted owing to the same reason.
    • The month of June ended with the price of the precious metal standing at the rate of Rs.5,067 per gram. This was also the highest rate of the yellow metal which was recorded in the month of June. Over the month, there was a percentage increase of 3.05% in the performance of gold in Visakhapatnam.

    Trend of Gold Rate in Visakhapatnam for May 2020 (rates per gram of 24 karat gold)

    Parameter Gold price (24 karat)
    May 1 Rate Rs.4,670 per gram
    May 31 Rate Rs.4,898 per gram
    Highest Rate in May Rs.4,909 per gram on 26 and 27 May
    Lowest Rate in May Rs.4,621 per gram from 2 May
    Overall Performance Incline
    Percentage Change 4.88%

    Trend of Monthly Gold Rate in Visakhapatnam for May 2020:

    • On 1 May 2020, the price of gold in Visakhapatnam was at Rs.4,670 for a gram. On 2 May 2020, gold hit its lowest rate for the month and was at Rs.4,621 per gram. The improvement in the equities market was the main reason for the decrease in prices. From 3 May to 9 May, the prices of gold continuously increased in the city. The tensions between China and the US over the coronavirus outbreak caused the prices to increase. Gold rates closed the week at Rs.4,700 for a gram.
    • At the beginning of the second week, the price of gold was at Rs.4,701 per gram. On the next day, gold prices increased slightly and were at Rs.4,702 for a gram. By 13 May 2020, the price of gold had increased by Rs.38 and was at Rs.4,740 for a gram. Gold prices continued to increase over the course of the week and ended the week at Rs.4,788 for a gram. The weak economic data announced by the US and the fears of a global recession were the main reasons for the increase in prices.
    • On 17 May 2020, the prices of gold jumped significantly and were at Rs.4,854 for a gram. The increasing number of coronavirus cases and the tensions between China and the US ensured that gold rates increased over the course of the week. Gold rates continued to increase over the next four days and were at Rs.4,905 by 21 May 2020. By 23 May 2020, the prices of gold had reduced due to a strong dollar and were at Rs.4,869 per gram.
    • On the first day of the last week, the price of the yellow metal increased and was at Rs.4,900 per gram. Gold prices continued to increase over the next three days. On 26 May and 27 May, gold hit its highest rates for the month and were at Rs.4,909 for a gram. However, the prices of gold reduced by the end of the month as several countries eased the lockdown restrictions. Overall, gold rates in Visakhapatnam saw a 4.88% increase in its prices over the course of the month.

    Trend of Gold Rate in Visakhapatnam for April 2020 (rates per gram of 24 karat gold)

    Parameters Gold Price (24 karat)
    April 1 Rate Rs.4,150 per gram
    April 30 Rate Rs.4,720 per gram
    Highest Rate in April Rs.4,720 per gram on 30 April 2020
    Lowest Rate in April Rs.4,150 per gram from 1 April to 5 April
    Overall Monthly Performance Incline
    Percentage Change 13.73%

    Trend of Monthly Gold Rate in Visakhapatnam for April 2020:

    • The price of gold in Visakhapatnam for the month of April opened at Rs.4,150 per gram. From 1 April 2020 to 5 April 2020, no changes were made to the prices of gold. Gold hit its lowest price for the month during this period as well. After a slight increase on 6 April 2020, gold prices jumped significantly on 7 April 2020 and were at Rs.4,404 per gram. The coronavirus outbreak across the world and the subsequent lockdown in many countries was the main reason for the prices of gold to increase. After increasing by Rs.13 on 8 April 2020, gold rates decreased to Rs.4,391 per gram by 10 April 2020. The prices of gold were also supported by a weak dollar and the equities markets being affected in Asia. Central Banks in many countries also introduced several measures to boost the economy during the coronavirus pandemic.
    • Gold prices mainly fluctuated over the next seven days in the city. By 14 April 2020, gold was at Rs.4,451 for a gram. On 15 April 2020, gold saw another jump in its prices and was at Rs.4,566 per gram. After increasing over the next two days, gold saw its prices decrease on 18 April 2020. Many investors considered the yellow metal as a safe haven during this period as economies across the world were affected drastically.
    • In the third week of the month, gold prices were unpredictable. Gold prices continued to remain high because of the fears of a global recession. The unpredictable market also played a role in ensuring that the prices of gold remained high. Gold prices decreased during the course of the week as well after the US President said that the markets would reopen shortly. The high value of the dollar also ensured that the prices of gold did not see a huge increase over the course of the week. On 25 April 2020, the price of gold was at Rs.4,582 per gram.
    • At the end of the month, gold prices saw a huge increase in their prices. By 27 April 2020, the price of gold was at Rs.4,700 per gram. The main reason for the increase in prices was due to the several measures that were introduced by Central Banks to help the economy due to the coronavirus outbreak. On 30 April 2020, the price of gold hit its highest rate for the month and was at Rs.4,720 per gram. Over the course of the month, gold saw its prices increase by 13.73%.

    Trend of Gold Rate in Visakhapatnam for March 2020 (rates per gram for 24 karat gold)

    Parameters Gold Price (24 karat)
    March 1 Rate Rs.4,185 per gram
    March 31 Rate Rs.4,150 per gram
    Highest Rate in March Rs.4,443 per gram on 6 March 2020
    Lowest Rate in March Rs.4,026 per gram on 19 March 2020
    Overall Monthly Performance Decline
    Percentage Change -0.83%

    Gold Rate Trend in Visakhapatnam for March 2020:

    • March saw the price of gold decline by 0.49%. The gold was priced at Rs.4,185 per gram on the first day of the month and by 3 March, the rates had hiked to Rs.4,215 per gram. With this rise, the gold had emerged from a decline, led by investors waiting for the U.S. Federal Reserve to cut the interest rate. This week had closed curtains on gold with the gold being priced at Rs.4,417 per gram on 8 March.
    • By 10 March, the price of gold fell to Rs.4,427 per gram. One gram of gold cost Rs.4,160 by 16 March. The rates of the gold had fallen because traders had adhered to a selling spree. They were selling the gold and wanted to hold onto liquid cash for meeting the margin calls of the stock market. By 19 March, gold reached its lowest price for March as it was being sold at Rs.4,026 per gram. This dip in the rates had been driven by traders liquidating their positions in the gold. This was done in spite of the central banks’ measures to combat the coronavirus impact on the economy. On 21 March, the price of the gold had hiked to Rs.4,164 per gram. A lot of fiscal stimulus and monetary measures by the central banks had been announced for combatting the effect of the coronavirus and helping a weak global economy.
    • The fourth week saw traders continuing to fear of an economic fallout driven by the coronavirus. The price of the gold had remained stable during the last week of the month. Gold was priced at Rs.4,150 per gram from 22 March to 31 March.

    Trend of Gold Rate in Visakhapatnam for February 2020 (rates per gram for 24 karat gold)

    Parameter Gold price (24 karat)
    February 1 Rate Rs.4,077 per gram
    February 29 Rate Rs.4,185 per gram
    Highest Rate in February Rs.4,305 per gram on 24 February
    Lowest Rate in February Rs.4,030 per gram on 6 February
    Overall Performance Incline
    Percentage Change 2.64%

    Gold Rate Trend in Visakhapatnam for February 2020:

    • Opening the month at Rs.4,077 per gram, gold rates in Visakhapatnam held steady until 4 February. The price of the metal showed a heavy fall in prices from 5 February at Rs.4,040 per gram and then further down to Rs.4,030 per gram on 6 February. The decline in prices was majorly due to the Central Bank of China liquidating funds and cutting down their reverse repo rates in order to help stabilise their economy after it was greatly affected by Coronavirus. After declining to Rs.4,030 per gram, gold prices increased yet again to Rs.4,093 per gram by 9 February.
    • At the beginning of the second week, on 10 February, the price of gold in the city was trading at a marginally lower price at Rs.4,079 per gram and decreased for the following two days on 11 February and 12 February. This was majorly due to a higher risk appetite amongst investors with the lowering number of Coronavirus cases all over the world. On 12 February, the price of the metal was Rs.4,057 per gram. However, there was a sudden increase in the metal’s prices with new cases being reported all over the world and the death toll rising as well. By 15 February, the price of the metal had increased to Rs.4,120 per gram.
    • Immediately after hitting Rs.4,120 per gram on 15 February, the price of the yellow metal plummeted on 17 February to Rs.4,107 per gram and then increased marginally to Rs.4,109 per gram on 18 February. However, with the escalation in fears of Coronavirus, investors shifted back the bullion, thus increasing global demand and prices. The metal’s price on 19 February had increased to Rs.4,151 per gram and further increasing to Rs.4,179 per gram on 20 February. Gold prices saw major inclines in the fourth week of the month.
    • After increasing substantially in the third week, gold prices saw a price hike in the last week of the month amidst decreasing risk appetite and an increase in demand for gold due to safe-haven appeal. On 21 February, the price of the metal had increased to Rs.4,213 per gram and in just 3 days, the metal hit its monthly high at Rs.4,305 per gram. However, due to the sudden rise in prices and constant fluctuations, investors started booking profits. This led to a further decline in gold prices in the city. At the end of the month, the price of the metal on 29 February was Rs.4,185 per gram with a percentage decline of 2.64.

    Trend of Gold Rate in Visakhapatnam for January 2020 (rates per gram for 24 karat gold)

    Parameter Gold price (24 karat)
    January 1 Rate Rs.3,922 per gram
    January 31 Rate Rs.4,074 per gram
    Highest Rate in January Rs.4,125 per gram on 9 January
    Lowest Rate in January Rs.3,919 per gram on 2 January
    Overall Performance Incline
    Percentage Change 3.87%

    Gold Rate Trend in Visakhapatnam for January 2020:

    • Gold opened the month of January at Rs.3,922 per gram in Visakhapatnam. The rates showed an inclining trend through the month. Compared to the previous month’s closing price, the rates of the yellow metal slipped by Rs.3 per gram.
    • The rates of gold climbed to the highest for the month in the city on 8 January. A gram of the 24-karat gold was sold for Rs.4,125 as investors shifted to the bullion as a safe-haven asset given the escalating tensions in the Middle East.
    • Gold prices slipped in Visakhapatnam following that as the dollar recovered in the global markets after Washington and Beijing signed the interim Phase-1 trade deal. The outbreak of coronavirus in China also affected the prices of the yellow metal. Gold prices stood at Rs.4,028 per gram on 21 January.
    • With the World Health Organization (WHO) declaring a World Health Emergency due to the rising number of cases of coronavirus and deaths, the rates of the yellow metal closed the month at Rs.4,074 per gram. Gold’s overall performance in Visakhapatnam was 3.87%, trending upwards.

    Find Today's Gold Rate in Top Metro Cities

    Why is it important to track gold price in Visakhapatnam

    The basic rule of investing is that you also what you are investing in and why you are doing so. And the same is true with the case of gold as well. Whether you want to buy gold in Visakhapatnam or in any other city, you need to know what is happening in the market or how the precious metal is performing. Gold prices are never constant and as such keeps fluctuating based on a number of local and international factors. Sometimes, a rise in demand can also contribute to a rise in demand. For instance, during the many wedding seasons you see over the course of a year, gold prices will be on the higher side. This is because there’s more activity, albeit in the retail side of the business, as more people are looking to purchase the metal. If you are an investor, you have all the more reason to know how good or bad a metal is performing. Choose the right time and use the most used strategy of buying on a low and selling when its peaking idea if you are to make a good gain in the process.

    What are the popular gold jewellery stores in Visakhapatnam?

    Being in the southern part of India where a lot of gold is consumed, Visakhapatnam is home to hundreds of jewellery stores. Some of the most popular ones include Khazana Jewellers - a store with a widespread presence in all five state of South India. Jos Alukkas - owned by one of the Alukkas - this store has seen a significant rise in number over the last decade or so. Again, this store also has a massive presence in Karnataka, Telangana, Andhra Pradesh, Tamil Nadu, and Kerala. Malabar Gold and Diamonds - a Kerala-based business is another popular jeweller in the city that jewellery enthusiasts can visit. Besides this there are other jewellers like Lalithaa Jewellery, Vaibhav Jewellers, Hira Panna Jewellers, who are known among gold buyers in the city.

    Gold as an Investment in Visakhapatnam

    Jewelry -Jewelry in Vizag forms the major component of the overall demand for gold in the city owing to the tradition of buying the yellow metal during auspicious occasions. Most consider gold a safe investment. India's gold jewelry demand increased by 8 percent despite stricter import rules (some rules were done away with during the latter part of 2014).

    Coin - According to experts, gold coins have lesser premium and can be redeemed at the market price during selling. Many investors buy gold coins from reputed jeweler owing to no risk of impurity. While banks sell gold, they don’t buy back coins even as a pledge. Post offices and non-bank financial agencies also sell gold coins. Consumers have to pay a VAT @ 1%.

    Gold ETFs -One unit of ETF is equal to 1 gram of gold. Exchange Traded Funds (ETF) are like mutual funds that invest in gold. ETFs are gaining increasing popularity across the country owing to high liquidity, ease of investing (traded on the stock exchange) among many others. Also, there is no wealth tax involved which makes it an attractive investment option.

    How to invest in gold in Visakhapatnam

    Visakhapatnam, being one of the most popular cities in South India, offers plenty of opportunities for all sorts of gold investors: whether it is the large jewellery-buying consumers or for the investment-oriented companies. People can invest in a range of assets like gold coins, jewellery, gold bullions (bricks), and gold ETFs.

    Opting for a Gold Loan In Visakhapatnam

    While taking a loan against assets has been prevalent in India for a long time, opting for finance through gold is the most popular one. Up until recently taking a gold loan was a major hurdle because one would have been left under the mercy of a local jewellery banker, who would offer rates based on a whim on the actual price of gold. However, as the gold industry has developed there are plenty of national and local entities, who take up gold of the current day’s rates and offer you a loan amount you are looking for. You will of course be required to pay interest rates and the principal for a given point of time before getting your jewellery back.

    Everything about taxes on gold in Visakhapatnam

    Taxing on gold remains largely the same across all states of the country, hence there’s very little change to expect in Visakhapatnam. To start, gold owners are liable to pay income tax depending on their situations. For instance, if you sell your gold, the profit you make is taxable under the ‘Capital Gains’ component of ITD. Jewellers dealers are also liable to pay taxes, which they should pay under the ‘Profits and gains of business or profession’. The actual tax amount payable differs based on a few factors. These involve:

    • Short Term capital asset:Gold is considered to be a short-term capital asset, if you buy the jewellery and sell it within 36 months.
    • Long term capital asset:If you keep gold for longer than 36 months and then sell it later, your gold is considered a long-term capital asset.

    While short term gains on gold are taxed based on the tax slab you fall under, long term gains will be taxed at 20%, which is exclusive of any other cess that the government levies.

    In case, you have lost money by selling you gold, it is considered as a capital loss and you are required to mention the same while filing your Income Tax returns.

    Also Check Petrol Price and Diesel Price in Visakhapatnam

    News About Visakhapatnam Gold Rate

    • Gold Priced at Rs.47,000, Silver Rates Increase

      Gold rates have lowered in the domestic market on Monday. While gold futures went down 0.16% or Rs.74 at Rs.47,450 per 10 gram, silver futures slightly increased by 0.10% or Rs.66 at Rs.65,275 per kg. Friday recorded the lowest level of the dollar index since 4 August.

      Indian gold dealers had vast expectations of getting customers on account of a forthcoming festival. The highest purity gold was sold for Rs.47,246 per 10 gram and silver for Rs.63,475 per kg. The spot price for gold has been flat since the past month, but silver has been reduced to Rs.3,250.

      Spot gold has remained steady at $1826 per ounce in the global markets while silver at $24.69 per ounce. Platinum went down 0.6% to $1018.89 and palladium increased 0.2% to $2428.68.

      7 September 2021

    • Gold prices reduce as silver rates increase

      The gold futures on the MCX had reduced by 0.10%, (Rs.47) and reached Rs.47,954 per 10 gram. The silver futures had traded up by 0.03% (Rs.23) and reached Rs.67, 870 per kg. In the spot market, the highest purity of gold had been priced at Rs.48,430 per 10 gram and silver had been priced at Rs.68,053 per kg.

      4 August 2021

    • MCX futures trade lower for Indian gold at Rs.47,750 per 10 grams

      On the Multi-Commodity Exchange (MCX), gold contracts of August traded lower by 0.33% to settle at Rs.47,750 per 10 grams. Silver futures in July traded higher by 0.60% to settle at Rs.68,946 per kilogram. The August gold closing prices were Rs.47,910 while September closing price for silver was Rs.69,365.

      12 July 2021

    • Gold price increase by Rs.287 on Tuesday

      In the Mumbai retail market, the price of gold increased by Rs.287 on Tuesday. Following the increase, 10 grams of 24-karat gold cost Rs.49,319 plus GST while 10 grams of 22-carat gold in Mumbai was priced Rs.45,176 plus 3 percent GST. The price of 18-carat gold was quoted at Rs.36,989 plus GST in the retail market. The precious metal continued to hold above the $1,900 per ounce level.

      Gold holdings in SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund fell 0.87 tonnes to 1,043.21 tonnes. The ETF has a market value of $63.70 billion. The price of spot gold was up slightly and an ounce cost $1,908.63. In the futures market, gold price touched an intraday high of Rs.49,721 and an intraday low of Rs 49,433 on the Multi-Commodity Exchange (MCX). For the August series, the yellow metal recorded a high of Rs.49,721 and a low of Rs 44,501. Gold futures for August delivery gained 0.52 percent to cost Rs.49,607 for every 10 gram in evening trade on a business turnover of 12,945 lots. The same for October witnessed an increase of Rs.303 to cost Rs.49,965 on a business turnover of 851 lots. Similarly, Gold Mini contract for July recorded an upswing of Rs.294 and stood at Rs.49,399 on a business turnover of 7,699 lots.

      1 June 2021

    • Gold price fall by more than Rs.9,100 after hitting record highs

      Gold prices saw a small gain on 6 May 2021. In New York, gold prices jumped by 0.46% and were at $1,792.50 for an ounce. In 2020, gold prices hit record highs on MCX and were at Rs.56,191 for 10 grams. However, gold futures for the month of June have fallen by 25% since then. Gold futures prices for the month of June were at Rs.47,072 for 10 grams. In the previous session, the prices of the yellow metal closed at Rs.47,000 for 10 grams. Since August 2020, gold prices have fallen by Rs.9,119.

      7 May 2021

    • Silver and gold prices incline due to a weak U.S. dollar

      Gold prices were trading higher at the COMEX after increasing by 1.87% to $1,776.51 per ounce and on the MCX, the price of the metal inclined by 1.63% to Rs.47,353 per 10 grams. Silver prices traded higher by 2.78% at the COMEX and were trading at $25.97 per ounce. On the Multi Commodity Exchange, the price of the metal increased by 2.54% and was Rs.68,684 per kg.

      The price of the commodities was higher during the week due to a weaker dollar. Amid inflation, the bullion market saw some momentum with crude oil prices increasing and thus raising hope for the recovery in fuel demand.

      20 April 2021

    • Gold futures prices for the month of June jump on 1 April 2021

      Gold futures prices for the month of June on MCX jumped on 1 April 2021 after seeing a positive trend in the global markets. Gold futures prices for the month of June on MCX jumped by 0.03% and were at Rs.44,950 per 10 grams. On 31 March 2021, the prices of the yellow metal increased as well. The chances of inflation could increase in case stimulus measures are introduced and the precious metal is usually considered as a hedge against it.

      2 April 2021

    • Yellow metal trades flat; could face resistance above Rs.45100

      Prices of gold On the Multi-Commodity Exchange (MCX)grew 0.10% at Rs.44,946 for 10 grams. May silver futures dropped 0.15% at Rs.67,570 a kilogram.

      Gold April futures ended $1729.20 per troy ounce, and Silver May futures contract ended $26.29 per troy ounce.

      17 March 2021

    • Marginal decline in gold rates in Indian metros while silver prices remain the same

      On the first day of March, gold rates saw a marginal decline. One gram of 22-carat gold sold at Rs.4,493, with the earlier rate being Rs.1 lower. Ten grams of 22-carat-gold sold at Rs.44,930 which was Rs.10 lower than the previous trade. The price of 10 grams of 24-carat gold also decreased by Rs.10 to settle at Rs.45,930, falling by Rs 10. The prices in the major metro cities in the country are as follows: In Delhi, 22-carat gold was Rs.44,840 per 10 grams while 10 grams of 24-carat gold was Rs 48,920. In Chennai, the price of 22-carat gold was Rs.43,300 per 10 grams while the price of 24-carat gold was Rs.47,240. In Kolkata, the price of 22-carat gold was Rs.45,340 while the price of 24-karat gold was Rs.48,190. In Mumbai, 24-carat gold was priced at Rs.44,930 while the price of 240-carat gold was Rs.45,930. There were no changes in the price of silver price at Rs.675 per 10 grams.

      1 March 2021

    • Gold prices drop for the first time since 7 February; silver prices fall

      Gold prices dropped in the domestic market on 11 February due to a fall in the international prices of the metal. The silver price in the country also recorded a decline. On the Multi Commodity Exchange, gold futures dropped by 0.32% to Rs.47,857 per 10 grams. Silver prices recorded a drop of 1% at Rs.58,275 per kg.

      In the global market, gold prices saw a fall by 0.2% to $1,838.41 per ounce. According to experts, gold prices may face resistance at the Rs.48,060 per 10-gram level and will have support at the lower level of Rs.46,220 per 10-gram level.

      Silver prices in the global market dipped by 0.4% to $26.89 per ounce.

      11 February 2021

    • Cut in gold duty welcomed by the jewellery industry and market experts

      On 1 February, gold rates fell to Rs.48,409 for 10 grams. The main reason for the reduction in prices was the reduction in customs duty by the government from 12.5% to 7.5%. However, a separate tax of 2.5% on imports will be levied. After China, the second largest gold consumer in the world is India. In 2020, gold demand in the country fell by 35%. According to various experts, the reduction in customs duty is a welcome move. The move is likely to improve the demand for gold in the country.

      2 February 2021

    • Gold to reach new heights in 2021

      In 2020, the gold rates had been up by about 27% and silver had gained 50%. In August, the gold rates in India had reached an all-time high of Rs.56,200 per 10 grams. Silver prices had almost reached Rs.80,000 per kg. In the international markets, gold rates had finished 25% higher in 2020, and it had logged the biggest annual gain in a decade.

      7 January 2021

    • Gold prices decline by 1% due to vaccine optimism amongst investors

      On 9 December, the price of gold dipped by 1% due to the positive developments around the COVID-19 vaccine which prompted investors to shift to riskier assets. Spot gold was trading down at $1,857.70 per ounce, down by 1.7%. The metal had earlier dipped to $1,851.31 per ounce after hitting its highest on 23 November at $1,875.07 per ounce.

      U.S. gold futures had slipped marginally by 0.8% to $1,859.40 per ounce. Global equities had hit record highs with the healthcare sector booming due to the positive news surrounding the COVID-19 vaccine.

      Silver prices dipped by 1.6% to $24.17 per ounce with investors looking forward to the policy meeting of the United States Federal Reserve.

      15 December 2020

    • Gold prices static while price of silver increases to Rs.61,600

      Gold prices remained static for two consecutive sessions while trading above Rs.50,000. On the Multi Commodity Exchange, October futures of gold continued to trade flat at Rs.50,700 with an intraday low of Rs 50,612 and an intraday high of Rs 50,777. September futures of silver sold at Rs.61,590 per kg which was an increase of Rs.725 over the last session’s closing price of Rs.60,865 per kg. Spot gold prices were steady per ounce at $1,882.00 while in the US gold futures, the prices per ounce was $1,882.90. Silver prices increased by 1.2% to settle at $23.92 per ounce.

      3 November 2020

    • Gold and silver rates fall sharply

      The rates of gold and silver had dipped, tracking the muted international rates of these metals. On the MCX, the gold futures for December had also dipped by 0.22% and reached Rs.50,437 per 10 gram. The silver futures had dipped by 0.7% and reached Rs.61,250 per kg. During the previous trading rally, gold had been trading 0.3% lower and silver was a little higher by 0.2%. In the country, the gold rates have now lost its momentum ever since it had reached a record high of Rs.56,200 in the month of August.

      20 October 2020

    • Price of gold slip in the Indian commodity market

      After tracking weakness from abroad, gold price in the Indian commodity market slipped on Wednesday. In a volatile trading session, gold October futures was trading at Rs.50,050 after falling by Rs.470. In the international market, the futures of gold were trading near a one-week low after the US president halted negotiations with US congress on a large coronavirus stimulus bill. Spot gold was trading at $1,877 per ounce while Comex gold and US gold futures were down by 1.13 and 1.4 percent respectively and was trading at $1,879 and $1,882 per ounce. Supported by unprecedented monetary stimulus from major central banks and worries about the sluggish pace of economic recovery, the price of gold has shot up by 25 percent this year.

      7 October 2020

    • Gold prices fall to Rs.54,000 for 10 grams on 23 September 2020

      The prices of gold fell by Rs.700 in India and are at Rs.54,000 for 10 grams. In the previous session, the prices of gold were at Rss.54,700 for 10 grams. In India, the prices of gold jewellery depend on several factors such as the making charges, state taxes, and excise duty. Gold futures prices for the month of October on MCX reduced by 0.18% and are at Rs.50,381 for 10 grams. Due to a weak trend in the international markets, the prices of gold in Delhi fell by Rs.672 on 22 September. In the global markets, gold prices traded lower and were at $1,900 for an ounce.

      23 September 2020

    • Gold prices drop below the Rs.51,000 per 10-gram mark; silver prices gain 1%

      Gold futures for October in India dropped below the Rs.51,000 per 10-mark level on 8 September 2020 due to mute international trends. As the dollar value increased in the market, investors shifted away from the bullion market as they awaited the decision of the European Central Bank ahead of its meeting.

      On the Multi Commodity Exchange, gold contracts for October was trading lower by 0.43% at Rs.50,843 per 10 grams. Silver futures for September was trading at 0.5% lower at Rs.67,880 per kg.

      At the MCX, gold prices settled above the Rs.51,000 per 10-gram level and silver settled at Rs.68,271 per kg with a 1% gain.

      10 September 2020

    • Gold prices higher and support seen at Rs.50,500

      India’s October gold futures had risen after it had fallen by 0.5% in the previous session. Analysts have said that the volatility will continue, and support has been placed at Rs.50,500-Rs.50,800 per 10 gm.

      The international gold prices had been unchanged as there had been worries over the global economic outlook. On the MCX, October gold contracts had been trading higher by 0.5% at Rs.51,183 per 10 gram. The silver September futures had been trading at Rs.64,302 per kg.

      27 August 2020

    • Gold prices drop due to a strong dollar value amidst U.S. - China tensions

      India gold futures for October dropped on 11 August due to a mute trend in the international market with the U.S. dollar value rising against other currencies. As China added sanctions on U.S. officials escalating tensions between the two countries, the value of gold suffered.

      On the Multi Commodity Exchange, gold contracts for October were trading lower by 0.6% at Rs.54,600 per 10 grams and silver futures for September was trading at 0.9% lower at Rs.74,702 per kg. Gold and silver had previously gained in the international market by 0.50% and more than 6% respectively.

      On the MCX, gold settled at Rs.55,000 per 10-gram levels while silver settled around the Rs.75,600 per 10-gram level as they received support from central banks as they are inclined to increase their gold reserves.

      13 August 2020

    • Gold rates climb by 1.5% as dollar stumbles

      On Tuesday, gold soared to a nine-year peak. The increase in the rates was seen after a dollar sell-off and expectations for increased stimulus to aid the recovery of pandemic-hit economies. The rates of spot gold rose by 1.5% to cost $1,842.52 per ounce. This was the highest recorded price since September 2011 and was on track to post its biggest daily gain since early May. The futures of U.S. gold settled at $1,843.9. In other metals, silver soared by 6.4 percent to cost $21.18 per ounce while palladium and platinum jumped by 5 and 5.2 percent to cost $2,156.71 and $886.97 per ounce.

      21 July 2020

    • Gold prices increase to hit weekly high post weak projections from the U.S. Federal Reserve

      The price of gold hit the weekly high on Thursday, 11 June 2020 with the United States Federal Reserve showed bleak projections on the economic data in the United States of America. This prompted investors to shift away from the equities market and the demand for gold increased due to its safe-haven appeal.

      Spot gold was down by 0.2% to $1,732.56 per ounce and U.S. gold futures increased by 1.2% to $1,741.90 per ounce and gold increased by 1.3%. The United States central bank estimated that the United States economy could shrink by 6.5% in 2020 and the unemployment rate will be at 9.3% by the year ends.

      Asian equities were also set to fall post the Federal Reserve showed bleak economic projections and the value of the United States dollar dipped. The SDPR Gold Trust mentioned that its holdings had increased by 0.4% to 1,129.50 tonnes. Silver prices, on the other hand, dipped by 1.7% to $17.95 per ounce.

      12 June 2020

    • Gold edges higher on US-China tensions

      Gold prices in India had risen and tracked a positive trend in the international market. On the MCX, June gold contracts had traded much higher by 0.4% at Rs.46,590 per 10 gram. The white metal futures had been trading 0.24% lower and stood at Rs.47,220 per kg.

      The U.S.-China frictions had also dampened the risk appetite and underpinned the bullion and offset the pressure on gold's prices from a better data.

      Asian shares had fallen after Beijing’s plan for imposing a new national security legislation on Hong Kong had drawn the warning from the U.S. President Donald Trump.

      Analysts had said that as long as the MCX gold is over 46,500, the bulls can fuel the session towards 46,800 levels. Both the precious metals had crashed on 21 May after a good U.S. economic data and a strong dollar.

      On the MCX, gold prices had dipped 2% and had then settled around Rs.46,500 and silver had reduced over 3% and stayed at 47,400.

      26 May 2020

    Gold Rate - Sitemap

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