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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.
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 April 2016 to June 2016 (per gram of 24 karat gold)
|1st day||Rs.2,894 per gram.||Rs.3,069 per gram.||Rs. 2,918 per gram.|
|Last day||Rs.3,069 per gram.||Rs.2,916 per gram.||Rs.3,103 per gram.|
|Highest price||Rs.3,069 per gram on 30th April.||Rs.3,073 per gram on 7th and 8th May.||Rs.3,180 per gram on 29th June.|
|Lowest price||Rs.2,877 per gram on 3rd April.||Rs.2,900 per gram on 30th May.||Rs.2,911 per gram on 3rd June.|
|Trend||Increase in price.||Decrease in price.||Increase in price.|
|Change||+6.04% increase.||-4.98% decrease.||+6.33% increase.|
Gold Rate Trend in Warangal in April 2016
- Gold recovered after the jewellers’ strike was called off and demand increased.
- Prices steadily rose over the course of the month due to higher demand and unstable global markets.
- Global surges in gold prices contributed to keeping prices high.
- Prices peaked at Rs.3,069 on the 30th of April.
Gold Rate Trend in Warangal in May 2016
- Prices were steady at the start of the month.
- Prices fluctuated as demand faltered as the U.S. economy revived on the possibility of an interest rate hike by the U.S. Federal Reserve.
- The resurgence of the Dollar and stronger markets led to gold rates declining.
- Prices fell to Rs.2,916 at the end of May.
Gold Rate Trend in Warangal in June 2016
- Prices of gold remained low in the first week of June but increased as demand surged.
- Prices rose as the expected interest rate hike by the Federal Reserve was put off, leading to higher demand for gold.
- Prices reached Rs.3,110 per gram on the 16th of June as markets were unstable due to the impending British referendum.
- With Britain voting to leave the European Union, markets crashed and demand for gold surged, leading to the price closing at Rs.3,103 per gram.
Gold Rate Trend in Warangal for January 2016 to March 2016 (per gram of 24 karat gold)
|1st day||Rs.2,548 per gram.||Rs.2,720 per gram.||Rs. 2,994 per gram.|
|Last day||Rs.2,710 per gram.||Rs.2,964 per gram.||Rs. 2,883 per gram.|
|Highest price||Rs.2,727 per gram on 28th Jan.||Rs.2,973 per gram on 12th, 20th and 21st Feb.||Rs.2,994 per gram on 1st March.|
|Lowest price||Rs.2,547 per gram on 4th Jan.||Rs.2,720 per gram on 1st Feb.||Rs.2,871 per gram on 28th March.|
|Trend||Increase in price.||Increase in price.||Decrease in price.|
|Change||+6.35% increase.||+8.97% increase.||-3.70% decrease.|
Gold Rate Trend in Warangal for January 2016
- The price of gold steadily increased in the month of January as domestic demand was high.
- Gold traded at Rs.2,548 per gram on the 1st of January and prices increased steadily throughout the month.
- Global demand and high domestic demand helped prices reach a peak of Rs.2,727 per gram on the 28th of January.
- Prices settled to Rs.2,710 per gram on the 31st of January.
Gold Rate Trend in Warangal for February 2016
- Prices rose marginally throughout the month as demand was high owing to the festive season.
- Gold was priced at Rs.2,720 at the start of the month, with minor fluctuations seen during the month.
- There was a sharp rise in price on the 12th of February, with gold priced at Rs.2,973 per gram.
- Gold ended the month trading at Rs.2,964 per gram.
Gold Rate Trend in Warangal for March 2016
- Prices rose at the start of the month, trading at Rs.2,994 per gram on strong demand.
- The nationwide jewellers’ strike cut off demand, resulting in prices stagnating.
- Prices fell for the remainder of the month, reaching a low of Rs.2,929 per gram in the third week.
- Prices fell further to Rs.2,883 on the 31st of March.
Gold rates in Warangal
The gold rate in Warangal follows that same trends as are followed throughout the country. Over the last one years these prices have also plummeted towards the second half of 2015 and are now in a state of recovery. Around mid to end of January 2016, the price of 10 grams of 24 karat gold was about Rs. 26,735 and the price of 22 karat gold was Rs. 24,507. Towards the end of the month it came up to about Rs. 27,300 for 24 karat and Rs. 25,025 for 22 karat gold. In the early days of the next month, February, it rose to Rs. 27,755 and Rs. 25,442 respectively. However after that it lost a bit of value over the next couple of weeks, settling at a price of Rs. 26,644 and Rs. 24,424 for 24 karat and 22 karat gold respectively. The month of February 2016 ended with gold reaching a price of Rs. 29,128 and Rs. 26,701 respectively.
Also Check Gold Price in NearBy Cities of Warangal
|Gold Rate In Hyderabad||Gold Rate In Vijayawada||Gold Rate In Visakhapatnam|
|Gold Rate In Guntur||Gold Rate In Nellore||Gold Rate In Kurnool|
|Gold Rate In Rajahmundry||Gold Rate In Kakinada||Gold Rate In Proddatur|
- Also Check: Gold Rate in Telangana
Read more on Gold
- Auspicious Days To Buy Gold In 2016
- Top 5 Factors That Affect Gold Rate In India
- Use Gold Jewellery To Get Yourself A Loan
- What Do The Markings On Gold Mean
- Why Investing In Gold Is A Golden Opportunity