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Gold Price in Ahmedabad
Gold is a major resource in India and has fascinated its citizens from time immemorial. Ahmedabad is the largest city of Gujarat with a population of over 5.5 million people and is an important center of trade and commerce. It is home to some of the most affluent people in the country and the former capital city of Gujarat is touted as a model city, one which has become a benchmark for other cities to look up to.
Gold rates fluctuate according to market conditions and availability and there is an ever growing demand for gold in Ahmedabad. Residents of Ahmedabad are undeterred by fluctuating gold rates and have embraced it with both hands.
Gold buyers in Ahmedabad can opt for either 22 karat gold, which is 92% pure or 24 karat gold, which is 99.9% pure.
Gold as an investment in Ahmedabad
Gold has always been considered as a safe source of investment and is seen as the answer to combat rising inflation. Some of the investment opportunities in gold are mentioned below.
- Jewelry – Buying jewelry has been the most preferred choice of gold investment among Indians and accounts for a major portion of gold investments in Ahmedabad. Jewelry can be sold or exchanged if need be, making it an attractive proposal.
- Gold Bullion Bars – A gold bullion bar is generally 99.5% pure and weighs around 1 kg. This bar can be ideal for those who can afford it and is often considered as one of the safest form of investments.
- Gold Bullion Coins – These coins come in different weights, ranging from 1 g to 10 g or more. People In Ahmedabad are warming up to purchasing gold coins as compared to jewelry as there are no wastage or making charges involved to purchase them.
- Allocated Gold Accounts – Owning gold can often be a source of worry, as people are concerned about its safety. Investing in gold accounts removes any tension about storing gold as the banks keep the gold safe, allowing the owner access to it when the need arises.
- Gold Accumulation Plan – An investor can deposit a fixed sum of money for a specified term in this plan. On maturity the investor can opt for gold coins or jewelry in exchange for the investment.
Gold Price Trend in Ahmedabad
- 24 karat gold dash; 1 g of 24 karat gold costs around Rs 2717 as of June 2015. The rate of gold has hovered around the Rs 2800 mark in the last year, having peaked at Rs 2904 in August. The rate plummeted to a low of Rs 2572 around December 2014.
- 22 karat gold dash; 1 g of 22 karat gold costs around Rs 2535 as of June 2015. An average price of Rs 2600 was witnessed over the last year, with the highest being Rs 2716 in August and the lowest hitting Rs 2365 in December 2014.
Trend of gold Rate in Ahmedabad for September 2017 (rates per gram for 24 karat gold)
|Parameters||Gold price (per 1 kg)|
|Gold rate on 1st September||Rs.3,079 per gram|
|Gold rate on 30th September||Rs.3,109 per gram|
|Highest Rate in September||Rs.3,194 per gram from 8 September to 10 September|
|Lowest Rate in September||Rs.3,068 per gram from 5 September to 7 September|
|Overall Monthly Performance||Incline|
September 2017- Week 1 (1st to 10th)
- Gold opened at Rs.3,079 per gram on 1 September and stayed steady at this price the next day as well due to steady demand for this yellow metal. This was due to spectators raining bets amidst firm trends being seen globally.
- The rate of gold increased marginally on the 3 of September to trade at Rs.3,084 per gram but fell thereafter to be priced at Rs.3,068 per gram from 5 September to 7 September. This was also the lowest at which gold was priced at for the month in Ahmedabad.
- The impact on the rate of gold could be attributed to North Korea’s confirmation regarding the testing of new powerful nuclear weapons.
- The rate of gold shot up to trade at Rs.3,194 per gram on 8 September and stayed steady at this price until 10 September due to geopolitical factors resulting in an increase in the demand for gold.
September 2017- Week 2 (11th to 17th)
- Gold rae in Ahmedabad plunged to Rs.3,160 per gram on 11 September due to a decline in the demand for this metal.
- The rate of gold continued to decline as the week progressed due to a recovery in the value of the US dollar.
- On the 12 of September, gold was priced at Rs.3,140 per gram and fell the next day to be priced at Rs.3,139 per gram.
- Throughout the week, gold rate in Ahmedabad varied between Rs.3,140 per gram and Rs.3,139 per gram.
- On the last day of the second week of September, gold was priced at Rs.3,139 per gram due to a low demand for this metal.
September 2017- Week 3 (18th to 24th)
- This yellow metal opened the third week of September by trading at Rs.3,128 per gram before falling to trade at Rs.3,112 per gram. This was due to a firm dollar as well as rising equity markets.
- Gold in Ahmedabad was priced at Rs.3,133 per gram on 20 September and declined by Rs.2 the next day to be priced at Rs.3,131 per gram.
- Due to steady but low demand for this yellow metal from both domestic as well as international markets, the rate of gold was stable at Rs.3,131 per gram from 22 September to 24 September.
September 2017- Week 4 (25th to 30th)
- There was a decline in the rate of gold on the first day of the fourth week of September in Ahmedabad with gold being priced at Rs.3,117 per gram but recovered thereafter.
- The rate of gold in Ahmedabad was Rs.3,165 per gram on 26 of September due to a recovery in the demand for this metal from domestic markets.
- As the value of the US dollar marginally reduced, the rate of gold slightly increased with this metal being priced at Rs.3,145 per gram on 27 September.
- However, this rate was not sustained and the price of this metal reduced marginally to trade at Rs.3,142 per gram on 28 September and declined even further thereafter to trade at Rs.3,118 per gram on the penultimate day of the month.
- Gold closed the month of September in Ahmedabad by being priced at Rs.3,109 per gram while recording an incline of 0.97% in the rate of gold.
Trend of Gold Rate in Ahmedabad for August 2017 (rates per gram for 24 karat gold)
|Parameters||Gold price (24 karat)|
|Gold Rate on 1st August||Rs.3,003 per gram|
|Gold Rate on 31st August||Rs.3,056 per gram|
|Highest Rate in August||Rs.3,056 per gram on 30 & 31 August|
|Lowest Rate in August||Rs.2,979 per gram on 7 August|
|Overall Monthly Performance||Incline|
Trend of Gold Rate in Ahmedabad for July 2017 (rates per gram for 24 karat gold)
|Parameters||Gold price (24 karat)|
|July 1st Rate||Rs.3,063 per gram|
|July 31st Rate||Rs.3,003 per gram|
|Highest Rate in July||Rs.3,079 per gram on 2 July|
|Lowest Rate in July||Rs.2,917 per gram on 11 July|
|Overall Monthly Performance||Decline|
July ‘17- Week 1 (1st to 9th)
- Gold rate in Ahmedabad were on the decline in the first week of July in spite of a relatively weak U.S. dollar.
- The precious metal traded at Rs.3,063 per gram on 1 July and rose to Rs.3,079 per gram on 2 July as demand increased as the markets reacted negatively to continued allegations against the Trump administration.
- Prices dipped to Rs.3,016 per gram on 3 July as local demand was poor following the imposition of the new GST tax regime.
- International demand was also poor, with the yellow metal seeing a decline in overseas demand.
- Prices did not change as the week drew to a close, resulting in gold trading at Rs.3,016 per gram on 9 July.
July ‘17- Week 2 (10th to 16th)
- Gold prices fell further as the week began, with the metal trading at Rs.2,993 per gram on 10 July before plunging to Rs.2,917 per gram on 11 July.
- The U.S. dollar was boosted by higher growth figures as evidenced from U.S. jobs data, which led to the markets rallying.
- Gold traded at Rs.2,919 per gram from 12-15 July as the stable market and recovering dollar rate led to decreasing demand from international consumers.
- Gold price in Ahmedabad rose as the week ended as oil prices impacted the U.S. dollar negatively, resulting in gold trading to Rs.2,932 per gram on 16 June.
July ‘17- Week 3 (17th to 23th)
- Gold price in Ahmedabad were on the ascent in the third week as there was an increase in demand from the jewellery sector as well as industry due to low import rates.
- The precious metal was priced at Rs.2,937 per gram on 17 July on stable demand from China and Europe, as local demand remained muted.
- Prices rose to Rs.2,965 per gram on 20 July as markets were jittery following the escalation of threats with North Korea.
- Gold continued to rise as markets and investors looked to safe haven assets like gold due to uncertainty, with gold priced at Rs.2,977 per gram on 21 & 22 July.
- Prices jumped to Rs.3,024 per gram as the week ended on 23 July.
July ‘17- Week 4 (24th-31st)
- Demand stabilised after a sudden increase over the previous week, opening the trading week at Rs.2,999 per gram on 24 July.
- Prices rose to Rs.3,003 per gram on 25 July as demand from local markets picked up following initial teething troubles with the new tax regime.
- In spite of fluctuating markets and a relatively weak U.S. dollar, there was no change in the price of gold.
- The month ended with gold priced at Rs.3,003 per gram on 31 July, recording a loss of 1.95% over the course of the month.
|Parameters||Gold price (24 karat)|
|June 1st Rate||Rs.3,065 per gram|
|June 30th Rate||Rs.3,063 per gram|
|Highest Rate in June||Rs.3,099 per gram from 7-10 June|
|Lowest Rate in June||Rs.3,047 per gram from 2-6 June|
|Overall Monthly Performance||Decline|
June ‘17- Week 1 (1st to 4th)
- Gold prices in Ahmedabad reflected trends seen across other Indian cities, with prices stable as the month began before falling due to poor demand.
- Gold was priced at Rs.3,065 per gram on 1 June before prices fell to Rs.3,047 per gram till the end of the month due to stagnating demand.
- Local demand was also poor due to global trends in demand.
June ‘17- Week 2 (5th to 11th)
- Prices were stable as the week began, trading at Rs.3,047 per gram on 5 & 6 June as demand did not see any change.
- Gold jumped to Rs.3,099 per gram on 7 June as political turmoil in the United States led to markets plunging, increasing demand for bullion.
- As local demand also rose, prices were stable and consistent for the remainder of the week.
- An increase in demand was also seen due to higher demand prior to the implementation of GST.
- Prices in Ahmedabad dipped marginally as the week ended, trading at Rs.3,064 per gram on 11 June.
June ‘17- Week 3 (12th to 18th)
- The yellow metal traded at Rs.3,064 per gram on 12 June as demand was steady from the previous week.
- Prices began to dip as the week progressed, trading at Rs.3,050 per gram on 16 June due to a revival of the U.S. stock market as well as a resurgent U.S. dollar.
- Demand from local jewellers was also on the decline due to rising dollar rates and a global dip in demand..
- Prices ended with gold trading at Rs.3,050 per gram on 18 June.
June ‘17- Week 4 (19th to 25th)
- Demand for gold continued to remain stable with a few fluctuations due to demand vagaries.
- Gold traded at Rs.3,050 per gram on 19 June as demand was steady due to increased demand from Asian markets, which kept prices high in spite of a dip in local demand.
- The frequent fluctuations in the dollar rate coupled with market instability led to consistent demand for bullion, especially gold.
- Prices did not change for the whole week, resulting in gold ending the week at Rs.3,050 per gram on 25 June.
June ‘17- Week 5 (26th to 30th)
- The last week of June saw gold prices continue to remain stable as local demand helped keep prices steady, as gold opened the week at Rs.3,050 per gram on 26 June.
- Higher demand from Europe was also seen due to faltering markets, which helped maintain prices in spite of a dip in Asian demand.
- The U.S. political crises appeared to be abating as the month drew to a close but demand for gold was still high.
- Prices rose with gold ending the month at Rs.3,063 per gram on 30 June, though prices still declined by 0.06% over the course of the month.
|May 1st Rate||Rs.3,058 per gram|
|May 31st Rate||Rs.3,065 per gram|
|Highest Rate in May||Rs.3,065 per gram on the 31st of May|
|Lowest Rate in May||Rs.2,976 per gram on 11th and 16th May|
May 2017 - Week 1 (1st-7th):
- On 1st, when the month of May began, gold was priced at Rs.3,058 per gram.
- Gold rates went down slightly during this week as stock prices in the US rose and which led to a rise in the US dollar rates.
- On 2nd, bullion rates went up to Rs.3,061 per gram as there was a tiny bit of demand for the precious metal.
- Though there was no change on the the 3rd and the 4th, gold prices went down by a significant margin on 5th to reach Rs.3,001 per gram, thereby recording a whopping Rs.60 per gram decrease.
- The fall as seen on the 5th was the single largest per-day gold price fall since the November of 2016, which was brought about due to low demand in various European markets.
- On 6th, gold prices went down by Re.1 to Rs.3,000 per gram.
- When the week drew to a close, gold was still priced at RS.3,000 per gram.
May 2017 - Week 2 (8th-14th):
- During the second week of May, gold prices sustained themselves around the Rs.3,000 range as Emmanuel Macron emerged victorious over the divisive Marine Le Pen..
- On the 8th of May, gold was priced at Rs.3,000 per gram. This rate sustained till the end of the 10th as French election results stabilised the market and thereby the demand for gold.
- The 11th, however, saw prices dip to a monthly low of Rs.2,976 per gram as a relatively stable global outlook brought demand for the metal down.
- Rates remained at the same level till the end of the week i.e., the 14th at Rs.2,976 per gram as bullion demand was at its sluggish best.
May 2017- Week 3 (15th - 21st):
- The third week of May started with gold still priced at Rs.2,976 per gram.
- But, prices rose over the subsequent days as retail sales dipped in the US, which led to a drop in the US dollar.
- On the 16th, gold was trading at Rs.2,997 per gram - a Rs.21 increase from the previous day’s prices.
- Gold prices went up again on the 17th to reached Rs.3,029 per gram as rumours that Federal Reserve might possibly increase the interest rate two more times this year.
- However, demand sustained over the next few days to keep gold prices at Rs.3,029 per gram.
- When the week came to an end, gold was still trading at Rs.3,029 per gram.
May 2017 - Week 4 (22nd - 28th):
- The fourth week of May went through some fluctuations with regards to gold rates as there was no stable demand for the precious metal.
- When trading began on the 22nd, gold was priced at Rs.3,043 per gram which trickled onto the 23rd as well.
- During this week, the US Labour Department rolled out a report which suggested that the job situation in the country wasn’t going as well as expected.
- On the 24th, prices slumped slightly to Rs.3,035 per gram before going at the same rate till the end of the 25th.
- Prices went up to Rs.3,050 per gram - a Rs.15 increase - which came as a breather, thanks to a weakened dollar.
- Rates didn’t change for the next two days as there was little to no demand till the end of the week.
May 2017 - Week 5 (29th - 31st):
- As dollar value fell after the Labour Department report hit the news, gold prices started on a high on the the 29th at Rs.3,060 per gram.
- On the 30th, gold prices saw no change in prices as demand didn’t change much as market came into grips with the latest job update.
- However, the last day of May saw prices go up slightly to Rs.3,065 per gram to end the month on a relatively high note.
- All in all, gold rates in Ahmedabad inclined at a marginal rate of 0.22% for the month of May, despite witnessing some potentially market meltdown moments.
- The slight incline in May was a much needed after prices fell the previous month.
|April 1st Rate||Rs.3,043 per gram|
|April 30th Rate||Rs.3,058 per gram|
|Highest Rate in April||Rs.3,118 per gram from 14th-16th April|
|Lowest Rate in April||Rs.3,058 per gram from 27th - 30th April|
April ’17- Week 1 (1st to 9th)
- The price of gold in the first week of April rose gradually as markets conditions were favourable.
- Gold traded at Rs.3,043 per gram on 1st April, with the price remaining constant till 4th April due to steady demand.
- Prices rose sharply to trade at Rs.3,064 per gram on 5th April as markets dropped due to escalating tensions in the U.S. over North Korea’s missile testing and fears of aggression in the region.
- Industrial demand for gold rose in the last few days, as gold ended the week trading at Rs.3,060 per gram on 9th April.
April ’17 – Week 2 (10th to 16th)
- Prices fluctuated due to a decline in demand from jewellers and conflicting cues from the stock markets.
- Gold was priced at Rs.3,038 per gram on 10th April but prices rose to Rs.3,050 per gram on 12th April as domestic demand bolstered prices.
- A sharp spike in the price was observed on 13th April, when gold traded at Rs.3,092 per gram due to the markets plunging in a single day’s trading.
- Prices fell as the U.S. Dollar recovered and traded higher against global currencies, which boosted stock markets, however gold prices rose, trading at Rs.3,118 per gram as the week ended.
April ’17 – Week 3 (17th to 23rd)
- The trend in the third week of April was one of a decline in price as stock markets stabilised after the uncertainty of the previous weeks, which led to a reduction in demand for gold.
- The yellow metal traded at Rs.3,117 per gram on 17th April as industrial demand from Asia was muted due to high export costs.
- The U.S. Dollar continued to gain against other currencies as European markets also strengthened, which led to a drop in investment in the metal.
- Gold traded at Rs.3,113 per gram on 19th April, with the price remaining constant till the end of the week due to stagnant demand.
April ’17 – Week 4 (24th to 30th)
- The last week of April saw the price of gold continue to fall due to declining demand from both jewellers as well as industry.
- Gold traded at Rs.3,097 per gram on 24th April as local demand fell following the end of the wedding season. A strong stock market also led to a drop in interest in gold among investors.
- Prices fell to Rs.3,058 per gram on 27th April as Asian markets cut imports due to a slowing down of industrial production, which in turn affected demand across the region.
- Gold prices were constant, as the month ended with the metal trading at Rs.3,058 per gram on 30th April to record a minimal increase of 0.49% over the month.
|March 1st Rate||Rs.3,080 per gram|
|March 31st Rate||Rs.3,029 per gram|
|Highest Rate in March||Rs.3,080 per gram on 1st and 2nd March|
|Lowest Rate in March||Rs.2,974 per gram from 15th to 17th of March|
March ‘17 - Week 1 (1st to 5th)
- Due to positive cues from markets in both India and abroad, gold opened at Rs.3,080 per gram on the 1st of March in Ahmedabad.
- There was stable demand for this metal resulting in this rate sustaining the next day as well. This was also the highest at which gold traded for the month.
- However, the price of gold fell slightly the next day due to slight recovery in the rate of the U.S. Dollar to trade at Rs.3,056 per gram.
- This rate was maintained until the end of the first week of March due to steady demand.
March ‘17 - Week 2 (6th to 12th)
- Gold rate was stable at Rs.3,056 per gram on the 6th and 7th of March before rising to Rs.3,062 per gram on the 8th of March.
- This increase in gold rate was not sustained however, due to a fall in demand and hence the rate of gold reduced to Rs.3,044 per gram on the 9th of March. Price of gold was steady at Rs.3,044 per gram on the 10th as well.
- As the week progressed, price of gold continued to fall to trade at Rs.3,023 per gram on the 11th of March.
- There were no variations whatsoever noted in the price of gold for the rest of the week as gold rate continued to trade steadily at Rs.3,023 per gram until the end of the week.
March ’17- Week 3 (13th to 19th)
- Price of gold was Rs.3,023 per gram which was a continuation of the rate noted during the end of the second week of March.
- On the 15th of March, demand for this precious metal fell to a monthly low resulting in the reduction of gold rate. This metal traded at Rs.2,974 per gram on the 15th and was steady at this rate until the 17th of March.
- On the 18th, rate of gold increased to trade again at Rs.3,023 per gram and stayed stable at this rate until the end of the week.
March ’17- Weeks 4 (20th to 26th)
- On the 20th of March, ratee of gold was Rs.3,028 per gram which was a slight recovery from that of the previous week’s prices.
- This rate was not sustained however and the rate of gold fell by Rs.10 the next day to trade at Rs.3,018 per gram.
- A recovery in demand for this precious metal and positive cues from markets abroad resulted in the rate of gold shooting up to Rs.3,060 per gram.
- There were some fluctuations noted in the rate of gold during the fourth week of March.
- Rate of gold fell by Rs.10 the next day to trade at Rs.3,050 per gram and stayed steady at this price until the end of the week.
March ’17- Weeks 5 (27th to 31st)
- There was a marginal recovery noted in the rate of gold on the 27th of March wherein this precious metal traded at Rs.3,065 per gram before falling to Rs.3,060 per gram on the 28th of March.
- Price of gold varied between Rs.3,045 per gram to Rs.3,049 per gram between the 29th and 30th of March.
- Demand for this metal could not be maintained resulting in gold trading at Rs.3,029 per gram which was a fall of 1.65% as compared to the rate noted at the beginning of the month of March.
|February 1st Rate||Rs.3,035 per gram|
|February 28th Rate||Rs.3,095 per gram|
|Highest Rate in February||Rs.3,101 per gram from 25th February to 27th February|
|Lowest Rate in February||Rs.3,034 on 4th and 5th of February|
February ‘17 - Week 1 (1st to 5th)
- Gold opened at Rs.3,035 per gram on the 1st of February in Ahmedabad due to relatively high demand for this metal in the city.
- Due to a further increase in demand for gold, the price of gold increased slightly by Rs.3 the next day to trade at Rs.3,038 per gram.
- This rate was maintained until the next day after which there was a minor decline in gold prices in Ahmedabad.
- Local demand was low, which kept prices stable in spite of increasing demand overseas.
- Rate of gold was stable at Rs.3,034 per gram on the 4th and 5th of February due to sustained demand.
- Industrial demand fluctuated, which led to prices falling as the week ended.
February ‘17 - Week 2 (6th to 12th)
- The second week saw the price of gold rise marginally, though demand was still muted due to poor local demand.
- Gold was priced at Rs.3,044 per gram on 6th February before rising up to trade at Rs.3,075 per gram the next day.
- This could be attributed to high demand for this metal in both domestic as well as international markets.
- Gold price in Ahmedabad were steady at Rs.3,075 per gram on the 8th and 9th of February before falling marginally.
- Unsteady demand resulted in gold trading at Rs.3,068 per gram on the 10th and 11th of February before plunging to Rs.3,048 per gram on the last day of the month.
- Poor local and international demand resulted in the price of gold reducing.
February ’17- Week 3 (13th to 19th)
- Gold Price in Ahmedabad in the third week of February increased as the week progressed due to positive cues from international markets.
- Gold traded at Rs.3,044 per gram on 13th February and stayed steady at this rate until the 15th after which rate increased by Re.1 on the 16th of February.
- Gold rates improved slightly to trade at Rs.3,070 per gram on the 17th of February and was steady at this rate until the very end of the week.
- This could be attributed to stable demand for this metal in both domestic as well as international markets.
- The ongoing wedding season could also be a reason for the stable demand which was reflected in the stability noted in gold rates.
February ’17- Weeks 4 & 5 (20th to 28th)
- Prices in the last few days of February saw prices rise due to increased demand, with gold trading at Rs.3,070 per gram on 20th February.
- Due to steady demand, the price of gold in Ahmedabad was stable at Rs.3,070 per gram until the 24th of February.
- There was a rise in demand for this precious metal as the month came to an end with gold trading at Rs.3,101 per gram from the 25th to the 27th of February. This was also the highest rate at which gold traded at for the month of February in Ahmedabad.
- As the month came to an end, a rise of 1.97% in the rate of gold was noted.
|January 1st Rate||Rs.2,893 per gram|
|January 31st Rate||Rs.3,017 per gram|
|Highest Rate in January||Rs.3,060 per gram on the 23rd and 24th|
|Lowest Rate in January||Rs.2,841 per gram on the 10th and 11th|
|Percentage Change||+ 4.28%|
January 2017 - Week 1 (1st - 7th)
- Gold prices increased in the city during the 1st week because of an increase in international gold demand coupled with an increase in gold orders by local jewellers.
- On the 1st and 2nd days of the month, gold traded at Rs.2,893 per gram.
- Prices dropped marginally due to fluctuations in demand, as gold traded at Rs.2,888 per gram.
- By the end of the week, the prices rose once again to Rs.2,937 per gram.
January 2017 - Week 2 (8th - 14th)
- Ahmedabad witnessed some fluctuations due to unfavourable market conditions, which reduced demand during the 2nd week.
- The price of gold on 8th January was Rs.2,937 per gram.
- Contrary to prevalent trends, gold prices in Ahmedabad fell on the 10th and 11th, trading at Rs.2,841 per gram, which were also the lowest rates for the month.
- Gold prices rose on the 12th to Rs.2,990 per gram, remaining constant until the 14th.
January 2017 - Week 3 (15th-21st)
- This week saw an increase in gold prices in Ahmedabad. Global geo-political conditions resulted in an increase in gold prices this week. Brexit discussions led to a drop in markets in the UK, which increased demand for gold.
- On the 15th, gold traded at Rs.2,990 per gram, with prices rising due to uncertainties in the global market as a result of the change in leadership in the United States.
- For most of the week, gold traded at Rs.3,034 per gram, with prices stable due to steady demand.
- On 21st, the price dropped marginally as gold traded at Rs.3,024 per gram.
January 2017 - Week 4 and 5 (22nd - 31st)
- Gold prices fluctuated during the week due to uncertainty over the effect of the travel ban in the United States.
- Gold was priced at Rs.3,024 per gram on 22nd January.
- On 23rd and 24th, gold traded at Rs.3,060 per gram, which was the highest for the month.
- Prices fell immediately to Rs.3,032 on the 25th and kept decreasing due to a decline in domestic demand.
- The week ended with gold trading at Rs.3,017 per gram on the 31st.
Major Gold dealers in Ahmedabad
Ahmedabad has attracted gold dealers from across the country and one can find all major names here. Some of the more popular ones include Swarn Ratna Jewellers, Star Jewellery, Suvarna Jewellers, Anisha Jewellers and Kumar Jewellers. Local gold shops are present across the city to cater to individual gold needs.
- Also Check:Gold Rate in Gujarat
Also Check Gold Price in NearBy Cities of Ahmedabad
|Gold Rate In Surat||Gold Rate In Vadodara||Gold Rate In Rajkot|
|Gold Rate In Jamnagar||Gold Rate In Pune||Gold Rate In Kota|
|Also Know: Silver Rate in Ahmedabad|
Read more on Gold
- Auspicious Days To Buy Gold In 2017
- Hallmark, KDM and 916 Varieties of Gold
- Importance of Akshaya Tritiya in India
- Gold Price Valuation in India
- Why Gold Price Fluctuating
- Tips to Buy Real Gold in India
- Gold Price Trend in India
- Gold Loan - Tips
News About Ahmedabad Gold Rate
Gold rates hold firm and set for first weekly rise in three
Price of gold held firm and remained on course for its first weekly rise in three. Spot gold reduced by 0.1% to trade at $1,224.90 per ounce and hit $1,233.13 which is the highest since March 6. S gold futures reduced by 0.2% to trade at $1,224.60. Holdings of the largest gold-backed exchange-traded fund in the world, SPDR Gold Trust fell by 0.28% to trade at 837.06 tonnes.
The Federal Reserve increased the US interest rates for the second time in a period of 3 months but did not put forth any plan to accelerate the pace of monetary tightening as many had expected.
The dollar index held near five week lows hit in the previous session.
17th March 2017
Gold shoots up after biggest drop in the month
Gold dropped by 0.8% to $ 1,279.50 an ounce. ABC Bullion Chief Economist Jordan Eliseo spoke to SMSF Adviser and said that the speculation regarding the Brexit referendum has led to a hike in the gold price from $ 1,300 an ounce to $1,700 an ounce. ABN Amro analyst Georgette Boele said that with the odds for a "Brexit" outcome lower, riskier assets increased and gold is coming under increasing pressure. Considering the fact that gold is seen as a safe haven in times of uncertainty, the reason for surge in investments when surveys suggested that Vote Leave was in position can be explained.
22nd June 2016
Gold Import Numbers Fall To Lowest In 30 Months In Gujarat
The high price of gold and the low demand has had a massive impact on gold imports in the country. The numbers fell to less than half a metric tonne in May 2016 which is being hailed as the lowest import in 30 months. GSEC Ltd has even released data that has shown that the drop in the import has been as high as 92% bring the quantity down to about 0.423 metric tonnes as compared to the 5.6 metric tonnes that were imported during the same time last year. The price of gold sticking to the Rs 30,000 mark has been taken to be the biggest reason for this drop. Even the import of silver has come down drastically in the state. It has come down from 17.14 metric tonnes to 0.17 metric tonnes.
2nd June 2016
As the US dollar and stock fall, gold price rise
With the dollar falling, and US stock dropping on Wednesday, the prices of gold took a turn for the better. Spot gold was up by 0.6% and stood at $1,093.25 per ounce, and gold futures went up by 0.2% standing at $1,087.10 per ounce. The downward trend in equities, in the later part of trade lead to the prices moving up the price ladder. Other metals like silver and platinum as well took the upward movement. Silver stood at $ 14.15 per ounce, higher by 2.6% while platinum was up by 1.7% and stood at $ 846.24
14th January, 2016
Gold prices at a 5 year low
The dollar price has dipped to a 0.2% against other currencies, and hits a 8 month high, is expected to rise with the forthcoming US interest rate hikes. In Asia, the physical gold consumption appears to have appears to be refreshing with the low prices in gold. After the fall to $1,064.95 it’s lowest since February 2010, on Tuesday the prices of gold took the upward track providing short term relief.
25th November 2015
Lower gold demand due to insufficient monsoon
In India, most of the rural population invest in gold as wealth. However, due to insufficient monsoon this year, the gold demand has dipped to about 20%. Monsoon plays a key role in the demand for gold. Gold imports fell by 87% this year, only in Gujarat.
In 2015 alone gold bars were being sold in kilograms by wholesalers at a discount. According to a survey of six traders and analysts, the rate, at the London spot market, after tax ranged from $4 to $11, at an average of $5.70. As per Bloomberg generic pricing, immediate delivery gold traded at $1,092.35 for an ounce in London on Monday November 09, 2015. A kilogram of gold at that rate cost around $35,119.87.
11th November 2015
Gold Rates Fall Below Rs.26,000
Gold and silver rates in India have declined to sub-Rs.26,000 per gram and sub-Rs.35,000 per kg respectively. This is good news for traders and jewellers looking to capitalize on the low rates to see a change in fortunes this festive season.
Gold demand has been low this year compared to previous years. While sales dropped by almost 50% during Navratri, demand fell by almost 40% during Pushya Nakshatra. Jewellers and dealers are now pinning their hopes on Dhanteras sales, which have traditionally been good for them. Gold was priced around Rs.31,000 during this time in 2013 and Rs.28,000 in 2014.
The demand for gold has declined this year primarily due to a weak monsoon. Most of the gold demand comes from the rural population, which has been the one hardest hit by the weak monsoon this year. Demand compared to last year has been lower by 30-40% around the country and even offers and discounts have been unable to woo customers this time around.
Sellers are now expecting the low rates to pump up demand during Dhanteras and subsequently in the wedding season. With gold prices at low levels, demand may well pick up now.
9th November 2015
Gold demand goes up ahead of festival
The demand for gold went up on Monday, ahead of Diwali much to the relief of the local dealers and traders. In India, Diwali is traditionally the key period for buying gold. The footfall was welcomed after a poor seasonal demand of the precious metal. Throughout October, the difference between between the London spot gold price and gold rates in the country was the discount.
Sales usually return to normal levels during festive seasons. The price came down to $2-2.50 per ounce from $10 per ounce, that triggered renewed buying. According to a local dealer in Ahmedabad, the demand for gold has returned and the buying has increases.
4th November 2015
Gold imports down by 87% in October
Jewellers across Gujarat may witness lesser footfall this Diwali as compared to previous years, the reason being low gold imports. In comparison to last month where around 24.07 metric tonnes of gold were imported, only 3 metric tonnes are in, this October.
It was the second lowest monthly import of gold in the state, ahead of Diwali, as compared to the past five years. The first instance was in October 2013, when approximately 0.31 metric tonnes of gold were imported. During Diwali in 2012 and 2013, gold was priced above Rs 31,000 per 10 grams. The current rate at which gold is being traded is around Rs. 26,750 for 10 grams.
According to bullion traders and jewellers, low imports is the main cause of higher prices and sluggish demand of the precious metal. However, in contrary, huge amounts of gold were imported in the months of July and August.
3rd November 2015
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