We’ll talk about gold rate in Maharashtra specifically in this article. We’ll talk about the circumstances that affect the gold rate in Maharashtra, for which we catered multiple tables and charts as well. Furthermore, we’ll disclose many historical data for your convenience too.
This will help you in understanding the reason for all the fluctuation in gold rate within the state. We’ll then move on to explain the types of gold.
Once that gets done, we’ll elaborate the trend of the gold rate in 2019 and 2020. At last we’ll help you figure out the rate of taxes you must pay while buying gold in Maharashtra.
Things have been going absurd in the world ever since the pandemic came into play. The world economy faced a huge downfall and, it even impacted the gold rate trend across the world. That’s why we’ve created this article.
So, go ahead and read out the entire article to know all about gold rate in Maharashtra live. In fact, you may even consider this article as a way to learn about the gold rate in Maharashtra today!
22 Carat Gold Rate in Maharashtra – Gold Price in Maharashtra Today
Also, Check out the Silver Rate in Maharashtra Today
This is the part that helps you to understand all about 22 carat gold rate in Maharashtra. However, you must know something else before moving on to that part.
22 carat gold is known to be the best for ornamental purposes. India has a vivid history of hoarding ornamental gold in its household for centuries.
In fact, Indian households are known to possess over 25,000 tonnes of gold. In other words, the value of gold across versatile Indian cultures is pretty much unmatched by anything else. Perhaps, that makes us the largest importers of the yellow metal.
Anyway, you’ll get to locate 22 carat gold rate in Maharashtra via this paragraph. In fact, we’ve incorporate a table that’ll detail you about gold price in Maharashtra today with distinction!
24 Carat Gold Rate in Maharashtra Today – Gold Price in Maharashtra
24 carat gold is usually known as the pure gold. That’s because it does not have any added impurities unlike 22 carat gold.
This is the fact that makes it more valuable. However, it can only be used for trading or storage purposes. That’s because of its fragile nature.
Nevertheless, blocks of 24 carat gold are used to further create 22 carat and other forms of gold. Anyway, this is the part that shows 24 carat gold rate in Maharashtra.
We’ve incorporated a well researched table for this purpose as well. So, if you’re seeking to learn about pure gold price in Maharashtra, then this part will definitely help you out!
Check out some amazing Gold Calculators
|Maharashtra Gold Investment Calculator||Gold Rate Calculator of Maharashtra|
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Gold Price in Maharashtra for Last 15 Days
The entire world economy was shook by the sudden occurrence of Covid 19. Maharashtra having the financial capital of India, took the worst hit in the country.
However, with the Unlock 1.0 in progress, things have been better for the state and, gold rate in Maharashtra was also impacted by this new normality.
So, we try to explain the trend in gold price across the state with a table charting the gold rate for the last 15 days in this part!
Find Gold Rates of other Indian Cities & States
|Gold Rate in Kochi||Gold Rate in Chennai||Gold Rate in Kerala||Gold Rate in Mysore|
|Gold Rate in Bangalore||Gold Rate in Delhi||Gold Rate in Hyderabad||Gold Rate in Vizag|
|Gold Rate in Mumbai||Gold Rate in Pune||Gold Rate in Kolkata||Gold Rate in Jaipur|
Graph of Gold Rate Today in Maharashtra – Also Past Gold Price in Maharashtra
Here’s a graphical representation of all we’ve discussed so far in terms of gold rate in Maharashtra.
The graph underneath will help you to simplify and track down the patterns that gold rate in Maharashtra has been following for some time. It will even help you to predict the possible movement of gold price in the days to come.
Gold Price in Maharashtra – Past 6 Months Price
Until now, we’ve discussed about gold rate across the two major segments in Maharashtra in the recent days.
However, with this part, we plan on understanding the pattern it’s been following so far. That’s why we help you dig in a little further and, by further we mean upto 6 months.
That brings us to the illustration underneath! It is meant to elaborate the gold rate in Maharashtra as a trend throughout the last 6 months! So, go ahead and take a look for yourself!
Gold rate analysis in Maharashtra for August 2020
|Gold Rates in August 2020||22 Carat Gold Rate||24 Carat Gold Rate|
|01-08-2020||₹ 5,250||₹ 5,350|
|08-08-2020||₹ 5,425||₹ 5,525|
|15-08-2020||₹ 5,122||₹ 5,222|
|22-08-2020||₹ 5,095||₹ 5,195|
|31-08-2020||₹ 5,050||₹ 5,150|
|Highest Rate in August||₹ 5,450||₹ 5,540|
|Lowest Rate in August||₹ 5,035||₹ 5,135|
One of the largest states in the west of India, Maharashtra, contributes the maximum amount of business to the country’s economy. Its capital city Mumbai is also known as the financial capital of India and is the home for the richest business houses of the nation.
Maharashtra is the birthplace of many stockbroking companies and thus, people here, take a lot of interest in trading shares. However, this has never affected the people’s love for gold jewelry and other products.
Residents of Maharashtra invest in this precious yellow metal to a great extent and thus, gold trading is extremely encouraged here. The rates for 22 Ct and 24 Ct Gold is given below for August 2020. Inventors planning an investment shortly should read them carefully.
- In Maharashtra, the rate of 22 Ct Gold touched the highest mark of Rs.5450 per gram and the lowest mark of Rs.5035 in August this year
- The maximum and the minimum prices of one gram of 24 Ct Gold were Rs.5540 and Rs.5135
- The opening price of this commodity was Rs.5250 for 22 Ct and Rs.5350 for 34 Ct
- Gold rates closed with a lower value which was Rs.5050 in the category of 22 Ct and Rs.5150 for 24 Ct
- The percentage calculated for the price change in 22 Ct Gold was 8.24% and that for 24 Ct Gold was 7.89% which can be called quite good
July 2020, Gold Rate Movement in Maharastra
|Gold Rates in July 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-07-2020||₹ 4,765||₹ 4,865|
|08-07-2020||₹ 4,660||₹ 4,760|
|15-07-2020||₹ 4,790||₹ 4,890|
|22-07-2020||₹ 4,870||₹ 4,970|
|31-07-2020||₹ 5,190||₹ 5,290|
|Highest Rate in July||₹ 5,190||₹ 5,290|
|Lowest Rate in July||₹ 4,645||₹ 4,745|
We have documented a table to clear the doubt regarding the gold rate in Maharashtra. We have included the gold price for both 22 carat and 24 carat gold. We also stated the highest and lowest gold price for the sake of the readers.
The main intention is to help the readers so that they can make the right investment at once. In the meantime, we also included the percentage analysis of both the gold segments.
- The highest gold rate was recorded as Rs 5,190 for 22 carat gold.
- The lowest gold rate was Rs 4,645 for 22 carat gold.
- Highest gold price for 24 gold was recorded as Rs 5,290.
- The lowest gold value for 24 gold was Rs 4,745.
- The percentage performance of 22 carat gold was 11.73%.
- Percentage evaluation of 24 gold was 11.49%.
- We see that the percentage performance of both the gold price was same.
June 2020, Gold Rate Movement in Maharastra
|Gold Rates in June 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-06-2020||₹ 4,605||₹ 4,705|
|08-06-2020||₹ 4,469||₹ 4,569|
|15-06-2020||₹ 4,600||₹ 4,700|
|22-06-2020||₹ 4,687||₹ 4,787|
|30-06-2020||₹ 4,735||₹ 4,835|
|Highest Rate in June||₹ 4,740||₹ 4,840|
|Lowest Rate in June||₹ 4,462||₹ 4,562|
The local gold market of Maharashtra was widely affected in June 2020 as the state was the worst affected by a pandemic. Below are the highest and lowest rates attained by this precious yellow metal in this state along with a brief analysis.
Traders and investors residing in this state should go through them very nicely and plan their future investments accordingly.
- The highest rate recorded for 1 gram of 24 Ct Gold was Rs.4840 in this month and for 22 Ct Gold it was Rs.4740
- 22 Ct Gold attained the lowest rate of Rs.4462 and that for 24 Ct Gold was Rs.4562
- The last two weeks of the month saw a good rise in the price of this precious metal
- A below-average percentage change was calculated in the price difference of 22 Ct Gold and it is 6.23%
- 6.09% was the performance percentage recorded in 24 Ct Gold in Maharashtra for June
May 2020, Gold Rates in Maharashtra
|Gold Rates in May 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-05-2020||₹ 4,530||₹ 4,630|
|08-05-2020||₹ 4,473||₹ 4,573|
|15-05-2020||₹ 4,541||₹ 4,641|
|22-05-2020||₹ 4,623||₹ 4,723|
|31-05-2020||₹ 4,599||₹ 4,699|
|Highest Rate in May||₹ 4,659||₹ 4,759|
|Lowest Rate in May||₹ 4,432||₹ 4,532|
Now that you know a thing or two about the recent gold rates in Maharashtra, we’ll try to help you understand the root cause of its current stature!
We begin by studying gold rate in Maharashtra per gram during May 2020. You may understand the entire thing through the table we’ve mentioned below.
However, we’ve still elaborated major points from the table for you. So, here’s how they go:
- As you can see, the table represents data in two discrete categories. The first one says about the gold rates for 22 carat gold. However, the 2nd one is dedicated to the 24 carat gold rates. Both categories have 5 data points for entries with 7 days’ worth of difference between two consecutive points.
- The lowest 22 carat gold rate in May 2020 was at Rs.4,432. The same parameter for 24 carat gold was recorded at Rs.4,532.
- Highest 22 carat gold rate was recorded while it registered Rs.4,659 per gram. However, the 24 carat gold rate was recorded at its peak in May 2020 at Rs.4,759.
- The graphs plot similar curve for both segments as well. They have the crests during 1st and 4th
- They even performed at a similar pace. 22 carat gold price went for performance worth 5.12%. However, the 24 carat segment performed at 5.01%.
April 2020, Gold Rate Movement in Maharashtra
|Gold Rates in Apr 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-04-2020||₹ 3,966||₹ 4,160|
|08-04-2020||₹ 4,198||₹ 4,298|
|15-04-2020||₹ 4,352||₹ 4,452|
|22-04-2020||₹ 4,256||₹ 4,356|
|30-04-2020||₹ 4,538||₹ 4,638|
|Highest Rate in Apr||₹ 4,608||₹ 4,708|
|Lowest Rate in Apr||₹ 3,964||₹ 4,160|
We’ve already mentioned that the pandemic has impacted the gold rate movement in Maharashtra quite severely. In fact, it’s caused the gold rates to sky rocket in the first place. Here you will learn about gold rate in Maharashtra per gram during April 2020:
- The 22 carat gold rate was recorded at Rs.3,964 on 1st In fact, this was the lowest it ever went in the month.
- The lowest value for 24 carat gold however, was attributed at Rs.4,160 and, even this value was inscribed on 1st April 2020.
- 22 carat gold rate elevated rather quickly during the month and, it was observed to be at a highest value of Rs.4,608.
- As far the highest value of 24 carat gold is concerned, it was recorded at its peak with Rs.4,708 per gram.
- The performance rates for both the segments were 16.25% and 13.17% respectively. This was considerably more than succeeding month!
March 2020, Gold Rate Movement in Maharashtra
|Gold Rates in Mar 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-03-2020||₹ 4,062||₹ 4,266|
|08-03-2020||₹ 4,320||₹ 4,538|
|15-03-2020||₹ 4,248||₹ 4,463|
|22-03-2020||₹ 3,964||₹ 4,163|
|30-03-2020||₹ 3,965||₹ 4,162|
|Highest Rate in Mar||₹ 4,323||₹ 4,538|
|Lowest Rate in Mar||₹ 3,924||₹ 4,120|
Gold price movement in Maharashtra was mostly impacted during March 2020. As a matter of fact, this was the month that explicitly elevated the gold price in Maharashtra per gram.
Here are some interesting facts about the gold price in March 2020 for Maharashtra:
- The highest 22 carat gold price for March 2020 was Rs.4,323. However, the highest 24 carat gold price for the month was even higher. It was recorded at Rs.4,538 per gram.
- The lowest price for the 22 carat segment in March 2020 was at Rs.3,924. But, the same value for the 24 carat segment was Rs.4,120.
- Table underneath shows 5 specific gold rate recordings for 22 and 24 carat segments. Two consecutive recordings were taken at a difference of 7 days. However, the price movement was consistent even on days the recordings were not taken.
- The 22 and 24 carat segments performed at 10.17% and 10.15% respectively.
- This was the highest performing month for gold rate movements in 2020 so far.
February 2020, Gold Price Movement in Maharashtra
|Gold Rates in Feb 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-02-2020||₹ 3,985||₹ 4,183|
|08-02-2020||₹ 3,940||₹ 4,133|
|15-02-2020||₹ 3,978||₹ 4,175|
|22-02-2020||₹ 4,040||₹ 4,244|
|29-02-2020||₹ 4,155||₹ 4,365|
|Highest Rate in Feb||₹ 4,207||₹ 4,416|
|Lowest Rate in Feb||₹ 3,937||₹ 4,133|
The table underneath describes about 22 carat gold price in Maharashtra during Feb 2020. It even describes the same for the 24 carat segment.
Anyway, we’ve created a list of takeaways to help you understand the table even better. So, just stay calm and take a look at what we figured out:
- The highest gold price in Maharashtra for 22 carat was registered at Rs.4,207 per gram.
- The case was totally different with the 24 carat segment nonetheless. In fact, the highest 24 carat gold price during Feb 2020 was registered at Rs.4,416.
- Lowest gold rate for the 22 carat segment was recorded at a difference of Rs.246. That means the lowest 22 carat gold rate in Feb 2020 was Rs.3,937 per gram.
- The lowest gold rate for the 24 carat segment was recorded at a difference of Rs.255. That means the lowest 24 carat gold rate in Feb 2020 was Rs.4,133 per gram.
- Neither of the segments performed at their best. However, their performance was recorded wasn’t that bad either. In fact, they were recorded worth 6.86% and 6.85% respectively.
January 2020, Gold Price Movement in Maharashtra
|Gold Rates in Jan 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-01-2020||₹ 3,802||₹ 3,986|
|08-01-2020||₹ 3,975||₹ 4,177|
|15-01-2020||₹ 3,883||₹ 4,077|
|22-01-2020||₹ 3,925||₹ 4,121|
|30-01-2020||₹ 3,926||₹ 4,126|
|Highest Rate in Jan||₹ 4,020||₹ 4,224|
|Lowest Rate in Jan||₹ 3,802||₹ 3,986|
This part elaborates about the gold price in Maharashtra during Jan 2020. So, just have a glimpse:
- The highest 22 carat gold price in Maharashtra during this month was Rs.4,018.
- Although, the 24 carat gold rate at the same time was even higher. In fact, it was registered at a rate worth Rs.4,224 per gram!
- The lowest price for the 22 carat category went down to Rs.3,874. This created a variation worth Rs.144 per gram.
- The lowest 24 carat gold rate, however was assumed to at Rs.4,066. This means that the overall variation in this scenario was worth Rs.158.
- The overall difference in price variation during the month generated a difference in the overall rate of performance as well. That’s why the 22 carat gold rate performed at 3.72%. However, the 24 carat gold rate performed at 3.89%.
December 2019, Gold Rate Movement in Maharashtra
|Gold Rates in Dec 2019||22 Ct Gold Rate||24 Ct Gold Rate|
|01-12-2019||₹ 3,732||₹ 3,919|
|08-12-2019||₹ 3,716||₹ 3,900|
|15-12-2019||₹ 3,673||₹ 3,860|
|22-12-2019||₹ 3,716||₹ 3,907|
|30-12-2019||₹ 3,799||₹ 3,992|
|Highest Rate in Dec||₹ 3,800||₹ 3,992|
|Lowest Rate in Dec||₹ 3,671||₹ 3,855|
Gold rate in Maharashtra differed from 2020 in many ways during 2019. This part will help you understand a bit of it:
- 22 carat gold rate in Maharashtra in Dec 2019 was less than Jan 2020. In fact, it was takes to be at Rs.3,800 during its peak.
- Things were not that different for the 24 carat category either. The highest rate per gram for this segment was worth Rs.3,992.
- The lowest price of 22 carat gold during Dec 2019 was Rs.3,671. This made a difference of Rs.129 per gram!
- The same factor for the 24 carat category performed differently though. The lowest price for the 24 carat gold was worth Rs.3,855. This created an overall difference worth Rs.137 per gram.
- Both the categories performed averagely during this month. The 22 carat segment’s performance was recorded to be worth 3.51%. On the other hand, the 24 carat segment performed at 3.55%.
Gold Rate in Maharashtra – Trend in 2020
This part talks about the gold rate trend in Maharashtra during 2020.
We’ve discretely divided the information on 22 and 24 carat gold segments for this as well.
Gold rate in Maharashtra have been high throughout this year, given the present pandemic situation.
Both the gold categories overall trend has been quite similar and have showed an up trend trait.
Another major reason for such a shift in price is the present trade tensions between India and China. This makes up to the highest jump during March to April 2020.
Check out Gold Rates of more cities & states
Gold Rate in Maharashtra – Trend in 2019
Since, we’re discussing about historical gold rate in Maharashtra, we must even talk about the trend of 2019.
The overall gold rate trend 2019 in Maharashtra was similar to that of other previous years displaying the behavior of elevation. However, the segments went for a crash in April 2019.
This especially happened because of the anticipation of the national budget. Even the financial year ending had some part to play in it.
The lowest 24 carat gold rate in this time was worth Rs.3,027 per gram. This was drafted during May 2019. However, the highest 22 carat gold price was worth Rs.3,899 during Nov 2019.
What makes Gold Rates in Maharashtra to increase?
We’ve already specified the gold rate in Maharashtra as on today. We’ve even shared a glimpse of the historical rate trend for 22 and 24 carat gold.
Though, for an investor, it is important to know why the gold price increases. Therefore, we’ve created this segment to tell the reasons that increase the gold price across Maharashtra:
- Much like any other article, gold follows the demand supply curve at times. This means that an increased demand for the metal cause the prices to go up. This even means that with decrease in supply of the metal, the prices of it go up.
- Now, the reverse of the first theory is also true for gold. It is often treated as an alternating or balancing element in investment portfolios. That’s because its price increases whenever the stock market goes down.
- Another reason for its increased price is the validation of international trade laws. India is among one of the largest importers of gold. Therefore, the import taxes levied internationally have an impact on its price. In other words, more the tax value, more the gold price!
What makes Gold Price in Maharashtra to decrease?
Much the increase of gold price, the decrease in gold price in Maharashtra has many contributors! This part just enlists the ones with the most impact:
- It happens since gold sometimes follows the law of demand and supply. This means that the yellow price decreases with an increase in its supply. Furthermore, this also means that the price of gold decreases with a decrease in its demand!
- Again putting, the international trade laws play a major role in its price determination. The less the amount of taxes levied, the lesser the price of gold.
Why Central Bank Policies impacts Gold Rates in Maharashtra?
Central bank such as the RBI treats gold as a contingency. They hoard the yellow metal for time of economic distress.
In such times, they tend to release their reserve of the gold to level the economic crises. This has been going on since centuries and, it’s an effective measure nonetheless.
However, this also impacts the price of gold in the domestic markets. In other words, central banks (and people in general) tend to rely more on their respective gold reserves in cases such as a weak or unstable government, natural calamity or even worldwide recessions scenarios.
However, the situation turns entirely opposite when the circumstances reverse! This is why gold rate in Maharashtra today is more than yesterday. In fact, this is the sole reason why gold rate in Maharashtra is increasing every day!
Why Gold Price in Maharashtra is different from other Cities?
There are numerous factors that decide gold rate in Maharashtra! None however, are as impactful as the decision of the local bullion and jewellers’ association.
This is the association that decides and controls the movement of gold and its price across the borders of Maharashtra and, they take decisions based on multiple factors.
We’re referring to the factors such as upcoming or ongoing festivities, past consumption rate of gold within the state and current demand of gold in the state.
What is Gold Rate in Maharashtra 916 Hallmark gold?
This part will tell you about the 916 gold price in Maharashtra today. However, you must know what it means before we get on to that part. So, 916 gold is simply 22 carat gold. The name comes from the fact that it contains 91.6% pure gold in it.
The remaining composition includes parts of silver and nickel. This is by far the most potent form of gold known for ornamental uses. Anyway, gold price in Maharashtra for 916 gold today is included at the beginning of the article.
Find out Gold Rates of more Indian Cities & States
How much is the Tax Levied on Gold Rate in Maharashtra?
Tax on gold rate in Maharashtra is levied in a layered format! There are basically two types of charge levied gold throughout Maharashtra. We’re referring to:
- A 3% tax as GST on total purchase volume.
- Then, a percentage or fixed amount as making charge while concerting gold into ornaments.
Gold Rate in Maharashtra – Conclusion
We’ve already told you all about gold rate in Maharashtra so far. So, it’s all upto you now to decide how to act with all this information.
You will find up to day information regarding the gold rate in Maharashtra today for the ease of decision making.
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