Gold is primarily traded in the form of jewelry in Maharashtra, with the rural population accounting for a substantial portion of gold purchases. Jalgaon in Maharashtra is also known as the ‘Golden City’ owing to its quality gold jewelry, which is sold far and wide. Gold rate in Maharashtra is related to gold rates in other parts of the countries, albeit with slight differences.
Gold Rate Trend in Maharashtra 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 Maharashtra 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 Maharashtra for October 2017
- Gold opened on a relatively high note, trading at Rs.3,127 per gram when October began.
- Rates continued at this rate before dropping to Rs.3,104 per gram on the 4th as demand seemed to fall amid poor local demand and a rising US dollar.
- Gold prices in Maharashtra flatlined at Rs.3,084 per gram from 6th to 8th October before increasing to Rs.3,119 per gram on the 9th and rising to the month’s highest figure of Rs.3,135 per gram on the 12th of October.
- The yellow metal’s rates continued at Rs.3,135 per gram till the 17th – owing to festive demand and a weak US dollar – but fell to Rs.3,011 per gram on the 19th.
- Gold rate in Maharashtra hit their lowest for the month when the metal traded at Rs.3,002 per gram from the period between the 23rd and 26th October.
- From this point on, rates improved gradually to end the month at Rs.3,088 per gram.
- Gold rates fell by 1.24% this month due to poor demand from local circles, which was brought about by weak global cues.
Gold Rate Trend in Maharashtra for November 2017:
- Gold rates in Maharashtra saw an improvement in the month of November, thanks to various events involving the US president Donald Trump.
- The yellow metal’s rates had actually tumbled when trading began for November – starting at Rs.3,070 per gram as opposed to Rs.3,088 per gram the previous day.
- But, a weak US dollar performance – brought about by the lukewarm response to Donald Trump’s latest tax structure rejig – pushed gold rates up.
- Gold traded at its highest during the 19th and the 20th when it was priced at Rs.3,115 per gram.
- However, an improvement in US treasury yields gave the US economy a much-needed reason for growth.
- By the end of this month, the gold rate in Maharashtra had plummeted to go down to Rs.3,081 per gram.
- Despite the reduced demand towards the end of the month, gold rate trends managed to record an increase of 0.35%.
Gold Rate Trend in Maharashtra for December 2017:
- Gold rates in Maharashtra opened strongly when December began. However, rates seemed to be on the decline for most part of the month due to poor demand.
- On the 1st of December, the yellow metal was priced at Rs.3,078 per gram, which then rose to Rs.3,094 per gram – the month’s highest gold rate.
- From this point on, there was a consistent decline in prices with prices going down to as low as Rs.2,988 per gram on the 12th of December.
- But, a number of issues concerning the US economy and the Trump Presidency led to a weakening of the US dollar and the subsequent rise in gold prices.
- Gold price trend inclined by 0.61% in Maharashtra in December owing to strong demand.