Gold Rate in Madhya Pradesh

• Team Antworks

Madhya Pradesh is a Northern state in India which is is said to be very rich in culture and boasts of one of the most ancient but renowned universities of India, Nalanda. The state is very well established in terms of language and artistry and are said to be consisting a population that has a very simple taste and lead a humble lifestyle, but when it comes to jewelry, gold is an auspicious part of their day to day life. A woman from the state is often seen wearing some sort of gold ornament even if it is the form of a nose ring.

Gold Rate Trend in Madhya Pradesh 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, 7 and from 17 to 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 Madhya Pradesh 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.3,074 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 from 12 to 17 October	Rs.3,115 per gram on 19 and 20 November	Rs.3,094 per gram from 2 to 4 December
Lowest price	Rs.3,002 per gram from 23 to 26 October	Rs.3,061 per gram on 6 November	Rs.2,988 per gram on 12 and 13 December
Trend	Decline	Incline	Incline
Change	-1.24%	0.35%	0.61%

Gold Rate Trend in Madhya Pradesh for October 2017:

• Gold opened at Rs.3,127 per gram when trading opened in Madhya Pradesh for the final quarter of October.
• Prices seemed to fluctuate considerably during the initial few days as demand from local investors was on the uneven side.
• The 12th recorded the highest gold rate – of Rs.3,135 per gram – as jewelers increased purchases to meet the upcoming festive season demand. This continued till the 17th of the month.
• Another reason for this price hike was because of a weak US dollar, which the investors capitalised on.
• Rates began to fall as the US dollar continued to regain some of its lustre, and gold prices hit Rs.3,002 per gram on the 23rd, making it the lowest figure for the month.
• This continued on till the 26th as demand continued to remain weak.
• Towards the end of the month, however, gold prices improved to end at Rs.3,088 per gram as demand picked up.
• Despite a late flourish, gold price trends recorded a 1.24% decline, which was caused by some poor trades mid-month.

Gold Rate Trend in Madhya Pradesh for November 2017:

• Gold rates in Madhya Pradesh had fallen to Rs.3,070 per gram – a Rs.18 decline from the previous day’s rates.
• Due to poor demand, gold rates fell on a consistent basis, hitting Rs.3,061 per gram – the month’s lowest price – on the 6th of November.
• However, as festivities approached and as the dollar continued to fall, gold prices improved over the latter half of the month.
• The month’s highest price of Rs.3,115 per gram was recorded on the 19th of the month. This continued as demand remained high.
• Prices consolidated as the month drew to a close and the metal traded at Rs.3,088 per gram on the final day of November.

Gold Rate Trend in Madhya Pradesh for December 2017:

• Gold prices improved in the month of December as well despite hitting some significantly low figures during the second week.
• This month’s trading was affected by the latest US tax laws, which brought about a positive change in the US dollar.
• Gold opened at Rs.3,074 per gram on the 1st but surged to Rs.3,094 per gram on the 2nd due to increased demand.
• Rates continued at this rate till the 4th as there was consistent demand for the metal.
• However, as the latest US tax law helped the dollar gain against other currencies.
• Gold recovered from the fall to rise to Rs.3,088 per gram towards the final day of the month. The yellow metal recorded a 0.61% incline this month thanks to steady demand.