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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 2017 to June 2017 (per gram of 24 karat gold)
|1st day||Rs.2,956 per gram||Rs.2,984 per gram||Rs.2,977 per gram|
|Last day||Rs.2,984 per gram||Rs.2,968 per gram||Rs.2,962 per gram|
|Highest price||Rs.3,040 per gram on 15 & 16 April||Rs.2,984 per gram on 1 May||Rs.3,030 per gram on 7 June|
|Lowest price||Rs.2,954 per gram on 8 & 9 April||Rs.2,888 per gram on 15 May||Rs.2,942 per gram on 20 June|
Gold Rate Trend in Warangal for January 2017 to March 2017 (per gram of 24 karat gold)
|1st day||Rs.2,821 per gram||Rs.2,965 per gram||Rs.2,990 per gram|
|Last day||Rs.2,954 per gram||Rs.3,003 per gram||Rs.2,940 per gram|
|Highest price||Rs.2,978 per gram on 23rd January||Rs.3,014 per gram on the 25th and 26th of February||Rs.2,994 per gram on the 2nd of March|
|Lowest price||Rs.2,821 per gram on 1st January||Rs.2,944 per gram on the 4th and 5th of February||Rs.2,900 per gram on 15th of March|
Gold Rate Trend for Warangal in January 2017
- On the first day of the first month of the year, gold was priced at Rs.2,821 per gram due to reduced demand for this metal. This was also the lowest at which gold was priced for the month.
- There was a slight increase in the price of gold over the next few days due to slow demand for this metal.
- At the end of the first week of the month, the price of gold rose up to Rs.2,872 per gram and stayed at this rate the next day as well.
- There was an improvement in the price of gold from the 14th of January onwards due to the harvest festival of Sankranti in Warangal. Gold was priced at Rs.2,941 per gram on the 14th and 15th of January before continuing to rise.
- There were quite a few variations noted in the rate of gold towards the end of January with gold trading between Rs.2,962 per gram and Rs.2,913 per gram between the 21st of January and 27th of January.
- On the last day of January, gold traded at Rs.2,954 per gram, with a rise of 4.71% in the price of gold.
Gold Rate Trend for Warangal in February 2017
- On the first day of the month, gold traded at Rs.2,965 per gram and reduced the next day to trade at Rs.2,954 per gram.
- However, due to a decline in the demand for this metal, the rate of gold fell to Rs.2,944 per gram on the 4th of February. This price was also noted on the 5th of February.
- There was a slight improvement in the rate of gold as the week progressed with this metal trading at Rs.2,964 per gram on the 11th and 12th of February, after which prices dropped again.
- The price of this yellow metal increased again on the 17th of February to trade at Rs.2,988 per gram.
- Gold traded at its highest rate on the 25th and 26th of February wherein it was priced at Rs.3,014 per gram. However, this rate could not be sustained and at the end of the month, gold traded at Rs.3,003 per gram recording a rise of 1.28% in the price.
Gold Rate Trend for Warangal in March 2017
- Gold traded at a promising rate of Rs.2,990 per gram on the first of the month before rising to the monthly high price of Rs.2,994 per gram.
- However, these rates could not be sustained due to a fall in the demand for this precious metal resulting in gold trading between Rs.2,972 per gram and Rs.2,951 per gram between the 3rd and 9th of March.
- The price of this metal continued to reduce with gold trading at Rs.2,900 per gram on the 15th of March which was also the lowest at which gold traded during the month. This could be attributed to the Dutch Elections and the decision of the U.S. Fed Reserve regarding the rate of interest.
- Towards the end of March, the price of gold fell, with a few minor variations here and there. On the last day of the month gold traded at Rs.2,940 per gram recording a decline of 1.67% in the price of this precious metal.
|1st day||Rs.3,152 per gram||Rs.3,065 per gram||Rs.2,893 per gram|
|Last day||Rs.3,067 per gram||Rs.2,942 per gram||Rs.2,821 per gram|
|Highest price||Rs.3,152 per gram on 1st & 2nd October||Rs.3,166 per gram on 9th November||Rs.2,895 per gram on 2nd December|
|Lowest price||Rs.3,021 per gram on 15th & 16th October||Rs.2,914 per gram on 25th November||Rs.2,767 per gram on 26th December|
Gold Rate Trend for Warangal in October 2016
- On the first day of October, gold traded at Rs.3,152 per gram in Warangal due to increased demand from the retail and industrial sector due to the wedding season and also festive season.
- However, this high price could not be sustained and started reducing thereafter.
- Due to a decrease in demand, the price of gold started to reduce.
- There was a lot of speculation regarding the upcoming U.S elections which would have contributed to fluctuating markets.
- Gold closed at Rs.3,067 per gram due to fluctuating markets and an overall decline of 2.69% was noted as the month came to an end.
Gold Rate Trend for Warangal in November 2016
- Gold prices in Warangal increased in the first week of November as market speculation over the U.S. presidential election along with higher industrial demand led to gold being priced at Rs.3,065 per gram.
- On November 8th, the Prime Minister of India, Narendra Modi announced the ban of certain cash notes in order to curb corruption. This rule came to be known as demonetization and the ban of notes worth Rs.500 and Rs.1,000 resulted in a lot of confusion and panic.
- However, gold traded at its highest on the 9th of November due to increased demand, at Rs.3,166 per gram.
- Price of gold remained quite low as gold rate reduced by over 4% to be priced at Rs.2,942 per gram on 30th November.
Gold Rate Trend for Warangal in December 2016
- Low demand kept the price of gold low in December, as the cash shortage continued, resulting in gold trading at Rs.2,893 per gram on the 1st of December.
- Prices were stable due to steady international demand, but reduced in the second week of December.
- Poor demand in domestic and international market led to declining prices of gold.
- The highest rate at which gold traded at for the month of December was on the 2nd at Rs.2,895 per gram.
- Prices reduced to a quarterly low of Rs.2,767 per gram on 26th December. This was the lowest at which gold traded at for the month of December. Declining demand led to the sharp decline.
- At the end of the month, a decline of 2.48% was noted in the price of gold. Gold demand during December was quite low.
|1st day||Rs.3,127.50 per gram||Rs.3,215 per gram||Rs.3,132 per gram|
|Last day||Rs.3,214 per gram||Rs.3,148 per gram||Rs.3,169 per gram|
|Highest price||Rs.3,214 per gram on 30th and 31st July||Rs.3,224 per gram on 3rd August||Rs.3,195 on 8th September|
|Lowest price||Rs.3,127.50 per gram on 1st July||Rs.3,148 per gram on 31st August||Rs.3,132 on 1st September|
Gold Rate Trend of Warangal in July 2016
The global market had a bullish outlook this month as positive trends swept over the markets.
- On 1st July, gold was seen trading at Rs.3,127.50 per gram.
- Gold prices climbed through the month as demand for the yellow metal was high.
- By the end of the month, gold prices reached Rs.3,214 per gram. This was the highest price recorded for this month.
- The trend for this month was an increase of 2.77% in gold rates.
Gold Rate Trend of Warangal in August 2016
- There was high demand for gold as the trends in the market remained bullish at the start of the month.
- Gold prices edged higher very quickly from Rs.3,215 per gram on 1st August to Rs.3,249 per gram on 3rd August.
- The atmosphere in the global market was soon dampened as the U.S Federal Reserve raised expectations of the interest rate hike.
- Prices of gold started to fall as investors were reluctant to buy gold.
- Gold traded at Rs.3,148 per gram on 31st August, the lowest price recorded for the month of August.
- There was a decline of 2.08% in gold rates this month.
Gold rate trend of Warangal in September 2016
- At the start of the month, gold was seen trading at low prices.
- Sentiments in the market were bearish but was soon turned over as the U.S. Federal Reserve decided to put the interest rate hike on hold till December taking into account the upcoming presidential elections.
- The highest price for this month was recorded on 8th September with gold trading at Rs.3,195 per gram.
- By 30th September, gold prices had stabilised and fell back to Rs.3,169 per gram.
- This month witnessed an increase in gold prices by 1.18%.
|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.
|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
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