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The last few months have been very tumultuous for gold prices in India. There was a downward trend in the prices owing to the wait for the announcement of the US Federal interest rate changes. The prices have now been recovering a bit and are up a bit now. Where in December of 2015 they were down to Rs. 25,724 for 10 grams of 24 Karat gold, they now stand at about Rs. 29,800. The reason the prices suffered such a drop in price was also that the uncertainty of the price of gold was deterring imports and was also pushing the demand down. Since the announcement of the interest rates, the prices of gold have been recovering across the country.
Warangal is a district about 145 km northeast of the city of Hyderabad. It is one of the cities that has been slated to be turned into one of India’s first 100 smart cities. The main economic activity of the city is agriculture with it sporting Asia’s second largest grain market. The city is also attracting investors from the information technology and providing them with the opportunity to set up shop there. It has also been given the status of a world heritage by UNESCO as a result of its strong ties to the history of the country.
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Gold as an investment
While Warangal may be an industrial town which is attracting more and more attention from the IT industry, its people also keep a close watch on investment opportunities. These opportunities can even present themselves in the form of investments in gold.
Physical gold: Physical gold is the most common form of investment when it comes to investing in gold. In such an investment, people actually purchase gold in the form of jewellery, not with the view of it being an ornament but from the view of it being an investment and an ornament. Warangal has a good network of gold shops and traders who offer people the opportunity to be able to invest in gold through jewellery.
Buying gold from banks: Another way gold can be invested in, in Warangal, is through the purchase of gold bullion through banks. Banks offer both 22 karat and 24 karat gold along with proper certification for the gold purchased.
Investing in gold ETF: Gold can also be invested in through gold ETFs (Exchange Traded Funds) that don’t require the investors to own physical gold purchased from banks or shops. These funds track the market price of gold and can even be offered in the form of mutual funds. They offer a good opportunity to gain returns through investment in gold markets.
Gold Rate Trend in Warangal for October 2020 to December 2020 (per gram of 24 karat gold)
|1st Day||Rs.5,274 per gram||Rs.5,194 per gram||Rs.4,877 per gram|
|Last Day||Rs.5,193 per gram||Rs.4,876 per gram||Rs.5,096 per gram|
|Highest Price||Rs.5,375 per gram on 17 October||Rs.5,302 per gram on 10 November||Rs.5,138 per gram on 21 December|
|Lowest Price||Rs.5,096 per gram on 21 October||Rs.4,876 per gram on 30 November||Rs.4,877 per gram on 1 December|
Quarterly Gold Rate in Warangal from October 2020 to December 2020:
- The prices of gold in Warangal on 1 October 2020 was Rs.5,274 per gram and on the last day was Rs.5,193 per gram for 24 karat. Overall, gold rates declined by 1.53% over the course of the month in the city. The highest price that the yellow metal hit for the month was on 17 October at Rs.5,375 per gram and the lowest was on 21 October at Rs.5,096 per gram.
- Gold prices in Warangal started off at the beginning of the month of November at Rs.5,194 per gram for 24 karat but by the end of the month it had dipped to Rs.4,876 per gram, which was also the lowest gold rate in the city for the month. The highest gold rate was Rs.5,302 per gram on 10 November. Overall, gold prices were on a declining trend with a percentage change of –0.96%.
- The gold rate in Warangal started off at Rs.4,877 per gram for 24 karat in the month of December and escalated to Rs.5,096 per gram by the end of the month. The lowest price was also on the first day of the month while the highest price was on 21 December at Rs.5,138 per gram. The price of gold had an inclining trend of 4.49% throughout the month in the city of Warangal.
Gold Rate Trend in Warangal for July 2020 to September 2020 (per gram of 24 karat gold)
|1st Day||Rs.5,049 per gram||Rs.5,583 per gram||Rs.5,221 per gram|
|Last Day||Rs.5,561 per gram||Rs.5,360 per gram||Rs.5,354 per gram|
|Highest Price||Rs.5,561 per gram on 31 July||Rs.5,914 per gram on 8 August||Rs.5,408 per gram on 21 September|
|Lowest Price||Rs.5,049 per gram on 1 July||Rs.5,359 per gram on 30 August||Rs.5,019 per gram on 26 September|
Quarterly Gold Rate in Warangal from July to September:
- On 1 July 2020, the price of gold in Warangal was at Rs.4,150 per gram. On 30 July 2020, the price of gold was at Rs.4,720 per gram. This was also the highest rate that gold hit for the month. Overall, gold prices in Warangal saw a 1.3% increase in its rates for the month.
- Gold opened at the rate of Rs.4,670 per gram for 24 karats in the month of August in Warangal. The last week of the month witnessed the prices going up and down again due to the various political and economic factors which played a direct role. Despite the uncertainty regarding the rise and drop in gold prices, the yellow metal touched its highest rate on 26 August and 27 August at Rs.4,621.
- The price of the metal opened the month of September at Rs.4,917 per gram and showed an overall declining trend with risk appetite amongst investors increasing. The metal closed the month at Rs.5,067 per gram on 30 September with an overall percentage decline of 3.05%.
Gold Rate Trend in Warangal for April 2020 to June 2020 (per gram of 24 karat gold)
|1st Day||Rs.4,150 per gram||Rs.4,670 per gram||Rs.4,917 per gram|
|Last Day||Rs.4,720 per gram||Rs.4,898 per gram||Rs.5,067 per gram|
|Highest Price||Rs.4,720 per gram on 30 April||Rs.4,909 per gram on 26 May and 27 May||Rs.5,067 per gram on 30 June|
|Lowest Price||Rs.4,150 per gram from 1 April to 5 April||Rs.4,621 per gram on 2 May||Rs.4,837 per gram on 8 June|
Quarterly Gold Rate in Warangal from April to June:
- On 1 April 2020, the price of gold in Warangal was at Rs.4,150 per gram. On 30 April 2020, the price of gold was at Rs.4,720 per gram. This was also the highest rate that gold hit for the month. Overall, gold prices in Warangal saw a 1.3% increase in its rates for the month.
- Gold opened at the rate of Rs.4,670 per gram for 24 karats in the month of May in Warangal. The last week of the month witnessed the prices going up and down again due to the various political and economic factors which played a direct role. Despite the uncertainty regarding the rise and drop in gold prices, the yellow metal touched its highest rate on 26 May and 27 May at Rs.4,621.
- The price of the metal opened the month of June at Rs.4,917 per gram and showed an overall declining trend with risk appetite amongst investors increasing. The metal closed the month at Rs.5,067 per gram on 30 June with an overall percentage decline of 3.05%.
Gold Rate Trend in Warangal for January 2020 to March 2020 (per gram of 24 karat gold)
|1st Day||Rs.3,922 per gram||Rs.4,077 per gram||Rs.4,185 per gram|
|Last Day||Rs.4,074 per gram||Rs.4,185 per gram||Rs.4,150 per gram|
|Highest Price||Rs.4,125 per gram on 8 January||Rs.4,305 per gram on 24 February||Rs.4,443 per gram on 6 March|
|Lowest Price||Rs.3,919 per gram on 2 January||Rs.4,030 per gram on 6 February||Rs.4,026 per gram on 19 March|
Quarterly Gold Rate in Warangal from January 2020 to March 2020:
- The gold price in Warangal opened at Rs.3,922 and closed at Rs.4,074 on the last day of the month. The price of gold was impacted due to the trade tensions between Washington and Beijing and as well as the political tensions between the Middle East and U.S which played a role in Gold touching its highest on 8 January at Rs.4,125 per gram. However, the price of yellow metal fluctuated and as things got better between U.S and China followed by easing of conflict between U.S and Middle East, the price of gold fell as investors turned to riskier assets. The price of gold in Warangal was the lowest on the second day of January 2020 at Rs.3,919. The price of gold for the month of January rose by 3.87%
- The gold prices in Warangal for the month of February opened at Rs.4,077 per gram due to the reports of outbreak of Coronavirus which played a role in the gold prices rising. The highest price the yellow metal touched was Rs.4,305 on 24 February as Covid-19 impacted the global markets forcing investors to turn towards gold which is considered to be a safe haven. The price of gold fluctuated and touched its lowest on 6 February at Rs.4,030 per gram as stock markets looked up due to monetary policy intervention by the Chinese Central Bank. The gold price closed at Rs.4,185 with the overall price of gold for the month of February rising by 2.64%.
- The month of March saw the gold prices opening at Rs.4,185 per gram and closing at Rs.4,150 per gram. The gold prices touched its highest on 6th March at Rs.4,443 as the outbreak of Coronavirus severely impacted the global markets forcing investors to turn to gold which is considered to be a safe haven. The price of yellow metal fell on 19th March at Rs.4,026 as investors sold their shares in order to hoard cash as global economy went through a turbulent time. The price of gold also fluctuated throughout the month due to poor U.S. job claims. Overall, the month of March turned out to be a disappointing month as the overall price of gold in Warangal declined by 0.83%.
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