Gold Rate in Aurangabad
The gold rate in Aurangabad may vary from dealer to dealer depending upon the purity of the precious metal. 24 karat gold is the most expensive form of the metal as it is 99.9% pure in comparison with 22 karat gold which is only 92% pure.
24 karat gold – Since the purity of 24 karat gold is 99.9%, it makes for a fine investment option and is hence relatively expensive when compared to 22 karat, 18 karat or 14 karat gold. However, only a small section of the city invests in 24 karat gold as it cannot be used in the production of jewellery and ornaments. The price of one gram of 24 karat gold in Aurangabad is Rs.3,090 as on the 9th of March, 2016. This price is reflective of international trends over the past one year as prices fell during the second half of the year and increased steadily at the beginning of 2016.
22 karat gold – The purity of 22 karat gold stands at 92%, but the number of investors in this form of the precious metal is higher than the number of those who put their money in 24 karat gold. The main reason for this is that 22 karat gold is produced in such a way that it is ideal to be used in the production of jewellery and ornaments, and since a large number of people in Aurangabad invest in jewellery and ornaments, 22 karat gold experiences plenty of demand and supply in this Maharashtran city. As on the 9th of March, 2016, the price of 22 karat gold in Aurangabad stood at Rs.2,870.
Gold Rate Trend in Aurangabad for January 2018 to March 2018 (per gram of 24 karat gold)
| Factor | January | February | March |
| 1st day | Rs.3,093 per gram | Rs.3,128 per gram | Rs.3,147 per gram |
| Last day | Rs.3,121 per gram | Rs.3,147 per gram | Rs.3,148 per gram |
| Highest price | Rs.3,164 per gram on 25 January | Rs.3,148 per gram from 3 to 5, 17-22 February | Rs.3,148 per gram on 8, 9 and from 24 to 31 March |
| Lowest price | Rs.3,080 per gram from 4 to 8 January | Rs.3,091 per gram from 9 to 11 February | Rs.3,123 per gram from 17 to 23 March |
| Trend | Incline | Incline | Incline |
| Change | 0.90% | 0.60% | 0.03% |
Gold Rate Trend in Aurangabad for October 2017 to December 2017 (per gram of 24 karat gold)
| Factor | October | November | December |
| 1st day | Rs.3,127 per gram | Rs.3,070 per gram | Rs.3,078 per gram |
| Last day | Rs.3,088 per gram | Rs.3,081 per gram | Rs.3,093 per gram |
| Highest price | Rs.3,135 per gram on 12, 13 and 14 October | Rs.3,115 per gram 19 and 20 November | Rs.3,094 per gram on 2, 3 and 4 December |
| Lowest price | Rs.3,002 per gram 23, 24 and 25 October | Rs.3,061 on 6 November | Rs.2,988 per gram 12, 13 December |
| Trend | Decline | Incline | Incline |
| Change | 1.24% | 0.35% | 0.48% |
Gold Rate Trend in Aurangabad for October 2017:
- Gold opened at Rs.3,127 per gram when trading in Aurangabad opened for the month of October.
- This month bore witness to considerable decline in prices as demand for the metal remained weak as the US dollar was strong.
- Gold rates in Aurangabad ebbed and flowed for the first two weeks considerably before hitting a monthly high figure of Rs.3,135 per gram on the 12th of the month. This continued on till the 14th as demand continued to flourish owing to strong global cues.
- However, as the US dollar started to regain its lustre, gold prices in Aurangabad began to decline as days passed.
- On the 23rd, the yellow metal traded at Rs.3,002 per gram – the month’s lowest rate as the US markets strengthened allowing the dollar index to improve.
- Festive season helped gold prices to an extent and the metal traded at Rs.3,088 per gram when the month came to an end.
- Weak demand despite the onset of key festivals caused gold prices to fall by 1.24% this month.
Gold Rate Trend in Aurangabad for November 2017:
- When trading started for November, gold rates had fallen slightly. The metal opened at Rs.3,070 per gram for this month.
- With the local demand continuing to be weak amid a strong global economy, gold rate in Aurangabad dropped to Rs.3,061 per gram on the 6th of November.
- As jewellers increased purchases, gold rates began to rise from the second week onwards.
- Gold price in Aurangabad were at their highest this month on the 19th and the 20th when the metal traded at Rs.3,115 per gram, thanks to rising purchased from jewellers.
- However, demand consolidated as the month wore on and so did the prices, leading to gold prices going down to Rs.3,081 per gram on the 30th of November.
- There was a 0.35% incline in prices this month, thanks to a slightly better demand seen particularly during the third week of the month.
Gold Rate Trend in Aurangabad for December 2017:
- The last month of Q4 2017 saw gold price in Aurangabad improve in spite of the the weak cues seen during the second week.
- The US President Donald Trump’s latest tax reform, which initially garnered poor response actually pushed the dollar value up.
- On the 1st of December, gold was priced at Rs.3,078 per gram, which surged to Rs.3,094 per gram the next day – the month’s highest rate.
- This was due to the market’s volatility brought about by the backlash for Trump’s corporate-friendly tax structure.
- The dollar improved against other currencies, which caused gold demand to drop considerably and rates dropped significantly to reach Rs.2,988 per gram on the 12th of the month.
- However, various other issues concerning the administration caught gold rate in Aurangabad to surge as the month progressed.
- Gold improved to trade at Rs.3,093 per gram on the final day of the month and year.
