Gold is a very precious metal and has high worth in Indian culture. Gold rate in Madhya Pradesh tend to fluctuate time and again, alongside the prevailing economic conditions in the country.
This article focuses on Gold rates in Madhya Pradesh today and how gold as a metal or ornament impacts the state and the people living in it.
Gold is manifested as an investment or purchased in form of jewellery for women. We will focus on 22 carat gold, 24 carat gold and the movement of gold rates in Madhya Pradesh live here.
22 Carat Gold Rate in Madhya Pradesh – Gold Price in MP Today
22 carat gold is basically 22 parts of gold mixed with 2 parts of other metals like copper or zinc. Jewellery is made using 22 carat gold.
The table below gives information on yesterday’s price of 22 carat gold rate in Madhya Pradesh and gold price in Madhya Pradesh today.
24 Carat Gold Rate in MP Today – Gold Price in Madhya Pradesh
24 carat gold is 24 parts of gold, which is 100% pure gold. Gold bars and coins are made out of 24 carat gold.
The below table represents change in 24 carat gold rate in MP and statistical change from yesterday to today which will determine the pure gold price in Madhya Pradesh.
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Gold Price in Madhya Pradesh for Last 15 Days
Usually before making any investment, investors tend to check past performance and graphs in order to get a clear idea whether it is a right time to invest ones money in it or not.
The same rule applies to buying and selling of gold. The below statistics of the 15 day fluctuation of gold price in Madhya Pradesh will help you determine current trends.
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Graph of Gold Rate Today in Madhya Pradesh – Also Past Gold Price in Madhya Pradesh
It is always easier and more feasible to interpret diagrams and draw conclusions; therefore this section shows the graphical representation of gold rate in Madhya Pradesh today.
Analysis of the past gold rate in MP will also be facilitated through the graph given below.
Gold Price in Madhya Pradesh – Past 6 Months Price
Given below is the data of gold rate in Madhya Pradesh for the past 6 months. This section will help you understand changes in the gold rates over the period of half year.
Gold rate analysis in Madhya Pradesh for August 2020
|Gold Rates in August 2020||22 Carat Gold Rate||24 Carat Gold Rate|
|01-08-2020||₹ 5,143||₹ 5,399|
|08-08-2020||₹ 5,382||₹ 5,650|
|15-08-2020||₹ 5,128||₹ 5,382|
|22-08-2020||₹ 5,140||₹ 5,401|
|31-08-2020||₹ 4,994||₹ 5,246|
|Highest Rate in August||₹ 5,451||₹ 5,730|
|Lowest Rate in August||₹ 4,979||₹ 5,222|
Madhya Pradesh is one of the largest states in the center of India and holds a rich heritage. It has a very high population and people here trade in various types of commodities and services. Gold is one of the basic commodities that the residents of this state love trading as it brings along a lot of revenues.
Traders and investors in this state spend a lot of time throughout the day in monitoring the fluctuations of this precious metal. This helps them in cracking the best business deal and earning a huge amount of profit.
In this article, the latest gold rates and trends for August 2020 will be discussed thoroughly that can influence the trading decisions of traders and investors immensely.
- The price of one gram of 22 Ct Gold fluctuated in the range of Rs.4979 and Rs.5451 throughout this month
- 24 Ct Gold reached the top-most rate of Rs.5730 per gram and the lowest rate for a gram was Rs.5222
- The opening price for 22 Ct Gold in Madhya Pradesh was Rs.5143 per gram and that for a gram of 24 Ct Gold was Rs.5399
- It was seen that the price of this precious metal was the highest in the second week of the month and decreased gradually from the third week
- The performance percentages calculated for 2 Ct Gold was 9.48% and for 24 Ct Gold was 9.73%
July 2020, Gold Rate Movement in Madhya Pradesh
|Gold Rates in July 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-07-2020||₹ 4,674||₹ 4,908|
|08-07-2020||₹ 4,670||₹ 4,899|
|15-07-2020||₹ 4,806||₹ 5,042|
|22-07-2020||₹ 4,782||₹ 5,023|
|31-07-2020||₹ 5,143||₹ 5,402|
|Highest Rate in July||₹ 5,147||₹ 5,405|
|Lowest Rate in July||₹ 4,654||₹ 4,889|
We have documented a table including the gold price for 22 carat and 24 carat gold pertaining to the gold rate in Madhya Pradesh. We have added the highest and lowest gold value. In the meantime, we also included the performance of each gold category. The entire idea is to deliver the right information pertaining to the gold so that you don’t miss anything related to the gold price. So follow the below points to get clues related to that.
- The highest gold price for 22 carat gold was recorded as Rs 5,147.
- The lowest gold price for 22 carat gold was Rs 4,654.
- We found that the highest gold rate for 24 gold was Rs 5,405.
- The lowest gold value for 24 carat gold was Rs 4,889.
- The percentage performance of 22 carat gold was 10.59%.
- While the percentage analysis for 24 gold was 10.55%.
June 2020, Gold Rate Movement in Madhya Pradesh
|Gold Rates in June 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-06-2020||₹ 4,576||₹ 4,800|
|08-06-2020||₹ 4,547||₹ 4,777|
|15-06-2020||₹ 4,543||₹ 4,770|
|22-06-2020||₹ 4,643||₹ 4,875|
|30-06-2020||₹ 4,757||₹ 4,990|
|Highest Rate in June||₹ 4,757||₹ 4,990|
|Lowest Rate in June||₹ 4,480||₹ 4,705|
This portion of the article will help gold investors and traders residing in Madhya Pradesh immensely. It will bring forth some of the important points about the performance of this precious metal in this state for June 2020.
Readers will get a thorough idea about the highest and lowest rates of gold and the percentage change in the rates throughout the month.
- The rate of 1 gram of 24 Ct Gold reached Rs.4990 which was very high in comparison to other states
- 24 Ct Gold rate marked the minimum value of Rs.4705 in Madhya Pradesh in this month
- The price of 22 Ct Gold traveled between Rs.4757 and Rs.4480 in the entire month
- Gold rates were higher in June and they increased gradually from the second week of the month
- A below-average percentage change was calculated and it is 6.18% for 22 Ct and 6.06% for 24 Ct Gold
May 2020, Gold Rates in Madhya Pradesh
|Gold Rates in May 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-05-2020||₹ 4,478||₹ 4,700|
|08-05-2020||₹ 4,527||₹ 4,757|
|15-05-2020||₹ 4,563||₹ 4,791|
|22-05-2020||₹ 4,624||₹ 4,858|
|31-05-2020||₹ 4,572||₹ 4,806|
|Highest Rate in May||₹ 4,656||₹ 4,885|
|Lowest Rate in May||₹ 4,428||₹ 4,647|
Prices of 22 carat and 24 carat gold rates in Madhya Pradesh are given below. This data provides information on price changes in the entire month which will give a better understanding to draw conclusions. Major insights are noted below for your reference.
- Price of various intervals of the months is exhibited in the table, which also highlights major changes.
- Highest recorded gold rate is Rs.4,656 for 22 carat gold and Rs.4,885 for 24 carat gold.
- Lowest recorded price is Rs.4,428 for 22 Carat gold and Rs.4,647 for 24 Carat gold.
- Compared to the beginning of the month, it is seen that the prices have risen during the end of the month.
- The percentage change from the month beginning till the end in the gold rate in Madhya Pradesh per gram is 5.15% for 22 carat and 5.12% for 24 carat.
April 2020, Gold Rate Movement in MP
|Gold Rates in Apr 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-04-2020||₹ 3,961||₹ 4,163|
|08-04-2020||₹ 3,962||₹ 4,163|
|15-04-2020||₹ 3,967||₹ 4,164|
|22-04-2020||₹ 4,581||₹ 4,806|
|30-04-2020||₹ 4,538||₹ 4,767|
|Highest Rate in Apr||₹ 4,619||₹ 4,847|
|Lowest Rate in Apr||₹ 3,961||₹ 4,159|
The below table depicts the gold rate movement in MP. However, we have also jotted down some important reference points below.
- Highest recorded gold rate in April in Madhya Pradesh is Rs.4,619 for 22 Carat and Rs.4,847 for 24 Carat.
- The lowest recorded price is Rs.3,961 for 22 Carat gold and Rs.4,159 for 24 Carat.
- In both cases of 22 carat and 24 carat, the prices have increased from the starting of the month to the end of the month.
- The gross percentage change in the gold rate in Madhya Pradesh per gram is recorded 16.61% for 22 carat and 16.54% for 24 carat gold.
- The month of April has more than double change in gold rates in Madhya Pradesh as compared to May.
March 2020, Gold Rate Movement in Madhya Pradesh
|Gold Rates in Mar 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-03-2020||₹ 4,064||₹ 4,265|
|08-03-2020||₹ 4,321||₹ 4,537|
|15-03-2020||₹ 4,251||₹ 4,458|
|22-03-2020||₹ 3,966||₹ 4,164|
|30-03-2020||₹ 3,962||₹ 4,160|
|Highest Rate in Mar||₹ 4,322||₹ 4,537|
|Lowest Rate in Mar||₹ 3,923||₹ 4,119|
To understand gold price movement in Madhya Pradesh better, we have summarized the gold rate for the month of March in the below section. Important points are drawn and noted down for better understanding.
- The highest rate noted is Rs.4,322 and Rs.4,537 for 22 carat and 24 carat respectively.
- The lowest rate for 22 carat is Rs.3,923 and for 24 carat is Rs.4,119.
- The prices are seen to initially increase in the first two weeks of the month and then decrease in the last 2 weeks.
- The overall percentage change in the gold price in Madhya Pradesh per gram from the beginning of March till the endhas been approximately 10.17% for 22 carat and 10.15% for 24 carat gold.
- Madhya Pradesh saw a decrease in per gram gold price at the end of the month.
February 2020, Gold Price Movement in Madhya Pradesh
|Gold Rates in Feb 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-02-2020||₹ 3,986||₹ 4,181|
|08-02-2020||₹ 3,942||₹ 4,134|
|15-02-2020||₹ 3,981||₹ 4,181|
|22-02-2020||₹ 4,038||₹ 4,241|
|29-02-2020||₹ 4,157||₹ 4,365|
|Highest Rate in Feb||₹ 4,205||₹ 4,413|
|Lowest Rate in Feb||₹ 3,941||₹ 4,134|
This section focuses on the changes in the 22 carat gold rate in Madhya Pradesh and 24 carat gold rates in Madhya Pradesh. These monthly analysis helps in future decision making.
- This month shows volatile gold prices.
- Highest recorded price is Rs.4,205 and Rs.4,413 for each category.
- Lowest price recorded for the month is Rs.3,941 and Rs.4,134 for each of the category.
- The table also shows weekly price schedule for gold rate in Madhya Pradesh per gram for this month.
- Its overall performance is stated to be 6.70% and 6.75%
January 2020, Gold Price Movement in MP
|Gold Rates in Jan 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-01-2020||₹ 3,796||₹ 3,989|
|08-01-2020||₹ 3,974||₹ 4,172|
|15-01-2020||₹ 3,887||₹ 4,082|
|22-01-2020||₹ 3,926||₹ 4,120|
|30-01-2020||₹ 3,929||₹ 4,129|
|Highest Rate in Jan||₹ 4,018||₹ 4,221|
|Lowest Rate in Jan||₹ 3,796||₹ 3,989|
This section highlights the gold price in Madhya Pradesh for the month of January and shows a comparative study of 22 carat gold price in MP and 24 carat gold rate data. The highlights have been summarized in the following points:
- There is a slow and stable increase in prices in January for each of the category.
- For 22 carat gold, the highest price recorded is Rs.4,018 and lowest price recorded is Rs.3,796
- Similarly, for 24 carat gold, the highest price recorded is Rs.4,221 and lowest price recorded is Rs.3,989.
- The overall performance is 5.85% and 5.82% as compared to February.
- The data of 5 different dates is also available in the table.
December 2019, Gold Rate Movement in Madhya Pradesh
|Gold Rates in Dec 2019||22 Ct Gold Rate||24 Ct Gold Rate|
|01-12-2019||₹ 3,734||₹ 3,923|
|08-12-2019||₹ 3,714||₹ 3,899|
|15-12-2019||₹ 3,671||₹ 3,861|
|22-12-2019||₹ 3,718||₹ 3,906|
|30-12-2019||₹ 3,802||₹ 3,992|
|Highest Rate in Dec||₹ 3,802||₹ 3,993|
|Lowest Rate in Dec||₹ 3,671||₹ 3,857|
It is important to reflect on the statistics of December as well, to understand the comparison between 22 carat and 24 carat gold rate in Madhya Pradesh. Some key notes to take away from this statistics are:
- The highest rate for the month of December is Rs.3,802 and Rs.3,993 for 22 carat and 24 carat respectively.
- The lowest is Rs.3,671 and Rs.3,857 for each as well.
- Prices seem to be lower at the beginning of the month and increases by the end of the month.
- The overall percentage change in the gold rate in Madhya Pradesh per gram from the 1st day to the last day of December is 3.57% and 3.53%.
Gold Rate in Madhya Pradesh – Trend in 2020
The gold rate trends in Madhya Pradesh changes alongside any change in the rate of US dollars.
The year 2020 has shower a tremendous fluctuation in gold rates due to the global pandemic and war like situations between India and China.
Another reason for change in gold rates is the demand from the public. With an increase in demand for gold in the form of investment, its prices also increase subsequently.
This year has seen a lot of fluctuations in gold prices where it seemed to start rising after March.
Analysts claim that the reason for the gold prices to rise is that people are trying to safeguard their liquid asset by investing in gold during the economic downfall. Since then, we have seen stability present until today gold rate in Madhya Pradesh.
Check out Gold Rates of more cities & states
Gold Rate in MP – Trend in 2019
It can be said that the Gold rate Trend 2019 in Madhya Pradesh was volatile, as overall it has seen rise as well as downfall of prices. The historical gold rate in MP in 2019 was affected by the changes in US dollar.
Another factor that influences gold rate is inflation. During increase in inflation as the value of money decreases, people tend to hold money in the form of gold. Therefore gold prices hike during inflation period.
What makes Gold Rates in Madhya Pradesh to increase?
Madhya Pradesh is known for its legacy in cultural and artistic dynasty. The people in Madhya Pradesh are also highly attracted to gold so much and, that it evident by the jewellery worn by females and children. The demand for gold in this state is everlasting.
However, the reasons for increase in gold rate in Madhya Pradesh as on today are given below:
- With an increase in family income, the need for a safer non-liquid investment comes into the picture. In those times, gold is an important investment option for people. This is when the demand for the metal rises, and so does the price.
- With change in dollar rates, gold prices also change simultaneously.
- The demand for gold increases during festivities which lead to an increase in the gold rate in Madhya Pradesh today per gram, as the supply does not necessarily meet the demand.
- With changes in the market conditions, the gold rates are also corrected alongside.
What makes Gold Price in Madhya Pradesh to decrease?
There are many factors that lead to decrease of gold price in Madhya Pradesh. The major reason for the decrease in gold rates is the demand for gold.
Apart from this, there are several other factors that lead to changes in Today Gold Price in Madhya Pradesh per gram.
- With a rise in interest rates, investors turn to assets which give more stable return, this decreases the demand for gold which further causes gold prices to drop.
- Change in the value of rupee dollar also impact gold rates.
- Income of citizens is also a primary reason for change in gold rates. When income increases, the demand for gold increases which will also increase its prices.
- International factors and a country’s relation with the other countries impact gold prices.
Why Central Bank Policies impacts Gold Rates in Madhya Pradesh?
Central Banks hold cash as well as gold reserves. If the central bank holds more gold, then the flow of gold in the market will decrease, and due to higher demand and inadequate supply the prices of gold will increase.
The similar situation is the other way around if the central bank holds more currency rather than gold reserves. The Gold rate in Madhya Pradesh is also impacted by return on investment on other assets like land, property, bonds etc.
If investors find that other assets can give them more return by holding it for long term or short term, they will rather choose to invest their money in such an asset than in gold. This also impacts Gold Rate in Madhya Pradesh today
Why Gold Price in MP is different from other Cities?
Gold prices vary from city to city. The Gold price in MP is affected by many factors, of which an important one is the local taxes impended on it. Transportation cost levied on import of gold also hike gold rate along with the percentage charge of transportation.
Gold prices in Madhya Prices in 916 is affected by international factors and hauling cost levied on the gold. This cost paid by the importer is transferred to the burden of the buyer by factoring this charge directly on the gold prices itself.
What is Gold Rate in Madhya Pradesh 916 Hallmark gold?
916 Hallmark Gold is a synonym for 22 carat gold. Since. 22 carat gold contains 91.67% of pure gold and the remaining quantity of alloys such as zinc or copper, it is the form of gold that is used to make sculptures and ornaments.
916 Hallmark is a surety that every term and condition of the gold standards has been met. The Gold Rate in Madhya Pradesh 916 is used by localities while purchasing Jewellery.
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How much is the Tax Levied on Gold Rate in Madhya Pradesh?
Tax on Gold rate in Madhya Pradesh is fixed at 5% as per the GST norms. However, additional charges like making charges are also implied which vary from jeweller to jeweller.
These charges can either be a fixed number per gram or a percentage on the final product. Apart from this, a specific tax to be charged is imposed by Madhya Pradesh government.
Gold Rate in Madhya Pradesh – Conclusion
Today gold Rate in Madhya Pradesh is impacted by all the factors stated in this article. We have tried to compile all the data related to 22 carat and 24 carat gold, along with monthly analysis for your better understanding.
Timely tables make it easier to draw conclusion and, we hope this article will be helpful for you to understand the gold rate in Madhya Pradesh and be significant for your next course of action.
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