Gold Rate in Ahmedabad

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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 rate in Ahmedabad 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.

Trend of Gold Rate in Ahmedabad for September 2019 (rates per gram of 24 karat gold)

Trend of Gold Rate in Ahmedabad for August 2019 (rates per gram of 24 karat gold)

Trend of Gold Rate in Ahmedabad for July 2019 (rates per gram of 24 karat gold)

Trend of Gold Rate in Ahmedabad for June 2019 (rates per gram for 24 karat gold)

Gold Rate Trend in Ahmedabad for June 2019:

• Gold price in Ahmedabad did not see any change between 31 May and 1 June as demand remained stagnant.
• Increased demand globally and subdued dollar led to an increase in price of Gold towards the end of June as it increased to Rs.3,520 per gram on 26 and 27 June.
• Continued trade war between US and China ensured that the demand for the precious metal remained high throughout the month.
• The price of the precious metal maintained its incline and closing price of gold in June was Rs.3,499 per gramas the dollar index was down by around 0.1% towards the end of the month.

Trend of Gold Rate in Ahmedabad for May 2019 (rates per gram for 24 karat gold)

Gold Rate Trend in Ahmedabad for May 2019:

• Gold prices in Ahmedabad opened at Rs.3,283 per gram but fell to Rs.3,252 per gram on 3 May due to the U.S. deciding to not provide any rate cuts in the near future.
• While prices remained more or less stable until 7 May, a steady increase was seen through the second week of May, with the price of gold peaking at Rs.3,339 per gram on 15 May. This increase was due to growing tensions between the United States and China which spurred demand for safe-haven products.
• In the fourth week, a fall in prices was seen with the lowest rate in May being Rs.3,247 per gram (24 May). This was due to U.S. stock indexes extending gains as well economic data showcasing the underlying strength of the U.S. economy. This led to an increase in the dollar rate, reducing the demand for gold.
• Renewed fears of a trade war between the U.S. and China, however, led to an increase in gold prices resulting in gold closing at Rs.3,303 per gram on 31 May.

Trend of Gold Rate in Ahmedabad for April 2019 (rates per gram for 24 karat gold)

Trend of Gold Rate in Ahmedabad for March 2019 (rates per gram for 24 karat gold)

Gold Rate Trend in Ahmedabad for March 2019:

• Demand for bullion was on the decline overall as poor local offtake coupled with a drop in overseas interest impacted prices after gold opened at Rs.3,422 per gram.
• The continued pressure from a rising U.S. dollar resulted in gold price in Ahmedabad falling to Rs.3,302 per gram on 9 March as local offtake also suffered.
• Fears over the economic impact of Brexit bolstered demand for bullion among investors as gold rate in Ahmedabad rose briefly to Rs.3,324 per gram on 15 March but indications of positive economic data from the U.S. once again dented demand as gold fell to Rs.3,282 per gram on 19 March.
• The adoption of a more dovish stance by the Federal Reserve and struggling Eurozone businesses saw the yellow metal’s popularity rise to Rs.3,318 per gram on 26 March before plunging to Rs.3,282 per gram on 31 March.

Trend of Gold Rate in Ahmedabad for February 2019 (rates per gram for 24 karat gold)

Gold Rate Trend in Ahmedabad for February 2019:

• A rise in the demand for gold in from investors negated the decline of local demand while the dollar rates fluctuated. The gold rate in Ahmedabad at the start of February was recorded at Rs.3,417 per gram.
• A spike in demand from local jewellers caused the price of gold to surge marginally to Rs.3,443 per gram as on 6 February. However, a strengthening dollar stunted the demand for the yellow metal and the price as on 12 January stood at Rs.3,417 per gram.
• Retail demand for the metal dropped as weak global cues were recorded. However, investor demand for gold rose over apprehensions over Brexit causing gold price in Ahmedabad to rise to Rs.3,437 per gram on 18 February.
• Prices reached a monthly high of Rs.3,484 per gram on 21 February despite weak offtake from Asia but indications of further interest rate hikes boosted the dollar as gold settled at Rs.3,447 per gram on 28 February to record a 0.87% rise in value during the month.

Trend of Gold Rate in Ahmedabad for January 2019 (rates per gram for 24 karat gold)

Gold rate trend in Ahmedabad for January 2019:

• The gold rate trend showed a steady incline throughout the month of January in Ahmedabad. This was mainly due to the strengthening of the rupee against the dollar due to poor market trends globally.
• Gold rate in Ahmedabad opened the month at Rs.3,257 per gram on 1 January and was steady till 3 January 2019. Gold prices increased considerably to Rs.3,309 by the middle of January. This increase was mainly due to the steady demand of gold by the local jewellers.
• Gold prices increased globally as well due to the weakening of the dollar as there was a fall in the market due to the crisis in United States Federal Government. This resulted in the increased demand of the metal among investors.
• On 31 January, gold price in Ahmedabad was the highest for the month at Rs.3,428 per gram resulting in a percentage incline of 5.25.

Trend of Gold Rate in Ahmedabad for December 2018 (rates per gram for 24 karat gold)

Gold Rate Trend in Ahmedabad for December 2018:

• Gold rate in Ahmedabad was at Rs.3,133 per gram on the 1st of December when trading started for the month. Prices were on the incline this month due to a weak currency, particularly the rupee which was still recovering from the fall seen during the previous two months.
• From the 4th onwards, gold rate in Ahmedabad were on a constant surge as demand was on the higher side as the US dollar was a little weak while the Indian rupee was also at its worst.
• Gold prices seemed to surge for the next few weeks progressed and hit their highest ever point over the final two days of the month. The yellow metal traded at Rs.3,257 per gram on the 30th and 31st of the month as demand was at its highest during these two days.
• When the month ended on the 31st, gold price in Ahmedabad were still at Rs.3,257 per gram. Price trends recorded a 3.95% incline this month as demand soared owing to a weak market and a weak currency.

Trend of Gold Rate in Ahmedabad for November 2018 (rates per gram)

Trend of Gold Rate in Ahmedabad for October 2018 (rates per gram)

Trend of Gold Rate in Ahmedabad for September 2018 (rates per gram)

Trend of Gold Rate in Ahmedabad for August 2018 (rates per gram)

August 2018 - Week 1 (1 - 5):

• Trading commenced for the month with gold price in Ahmedabad holding at Rs.3,078 per gram on the 1st amid steady demand and positive global cues.
• However, with the US dollar rising against a basket of other major emerging currencies ahead of the Federal Reserve statement, demand for the metal dropped during the week.
• Gold in Ahmedabad was recorded trading at Rs.3,078 per gram on the 2nd before plummeting to Rs.3,051 per gram the next day.
• With markets speculating ahead of the Fed Reserve’s monetary policy review, the dollar strengthened further and gold rate in Ahmedabad holding at Rs.3,036 per gram on the 5th as the week came to an end.

August 2018 - Week 2 (6 - 12):

• The second week began with gold price in Ahmedabad standing at Rs.3,036 per gram on the 6th with subdued but steady demand from local industries, jewellers and retailers amid the weak trend overseas.
• rates , however, recovered during the week with the US dollar losing ground as the US jobs data indicated a drop in the number of jobs contributing to the US economy.
• This led to gold in Ahmedabad being priced at Rs.3,046 per gram on the 8th before rising to Rs.3,051 per gram the next day.
• The week came to an end with gold rate in Ahmedabad holding firm at Rs.3,051 per gram on the 12th with steady investor demand amid the weakened US dollar and equity markets.

August 2018 - Week 3 (13 - 19):

• When trading commenced for the week, the precious was priced at Rs.3,051 per gram on the 13th with domestic markets riding on the back of the weakened greenback and equities.
• Strong global demand coupled with favourable market trends led to gold price in Ahmedabad rising to Rs.3,062 per gram on the 14th which rose further to Rs.3,072 per gram the next day.
• Gold in Ahmedabad dropped to a monthly low of Rs.3,026 per gram on the 17th as the US dollar dominated against a basket of other major currencies at the global level.
• Poor domestic demand coupled with weak overseas trends led to gold price in Ahmedabad remaining untouched at Rs.3,026 per gram for the remainder of the week.

August 2018 - Week 4 (20 - 26):

• Gold in Ahmedabad was recorded trading at Rs.3,036 per gram on the 20th when the week began amid firm trends overseas.
• The 22nd saw gold rate in Ahmedabad surging to Rs.3,046 per gram after a drop in the dollar value led to an increase in investor demand for the metal.
• With the US President criticizing the Fed Reserve’s decision to raise the US interest rates, the dollar dropped further.
• Strong global demand coupled with positive market cues led to gold price in Ahmedabad closing at Rs.3,056 per gram on the 26th.

August 2018 - Week 5 (27 - 31):

• The final week gold rate in Ahmedabad rising considerably on account of strong trends overseas that pushed demand higher around the world.
• Gold in Ahmedabad was priced at Rs.3,057 per gram on the 27th when the week began.
• With domestic bullion markets capitalising on the weakened US dollar, gold price in Ahmedabad surged considerably during the week.
• With investors and market participants refraining from making purchases ahead of the Federal Reserve Chairman’s statement on the US interest rate hike, the dollar value plunged. This led to gold rate in Ahmedabad touching a monthly high figure of Rs.3,108 per gram on the 28th and the 29th.
• The month concluded with gold finishing at Rs.3,103 per gram on the 31st and Ahmedabad registering an incline of 0.81% in gold rates during the course of the month.

Trend of Gold Rate in Ahmedabad for July 2018 (rates per gram)

July 2018- Week 1 (1-6)

• Gold rates in Ahmedabad were on the rise in the first week of July as consistent demand and few fluctuations led to stable price patterns.
• The precious metal opened at Rs.3,138 per gram and prices did not fluctuate for a few days in spite of a rise in demand for the metal due to the falling rupee.
• Local retail demand was on the decline but industrial demand was in line with trends seen overseas, as gold rose to Rs.3,149 per gram on 5 July.
• The rise in price continued as the week ended on 6 July, with gold priced at Rs.3,149 per gram on stable demand.

July 2018- Week 2 (7-13)

• Gold continued to trade at a stable rate during the week, opening at Rs.3,154 per gram on 7 July as the rupee recouped some of its earlier losses.
• The possibility of a trade war due to escalating tensions between China and the United States led to a higher interest in bullion both domestically and overseas.
• Prices dipped marginally due to demand vagaries, as gold traded at Rs.3,149 per gram from 8-10 July.
• Gold prices rose briefly as investors offloaded the dollar over fears of the trade war affecting its prospects, as the metal traded at Rs.3,159 per gram on 11 July.
• Demand for the yellow metal fell as the dollar recovered, resulting in gold falling to Rs.3,144 per gram as the week ended on 13 July.

July 2018- Week 3 (14-20)

• A sharp drop in the gold price in Ahmedabad was observed in the third week, as gold opened the week at Rs.3,108 per gram, the drop attributed to the continued fall of the rupee.
• Prices did not see much in the way of fluctuation for a few days as the falling rupee capped possible gains.
• Investors also stayed away from bullion investments after the Federal Reserve indicated it might step up the pace of rate hikes, which would make gold an unviable asset in the long-term.
• Prices dropped further as both industrial, as well as retail demand, was slow, trading at Rs.3,083 per gram on 20 July.

July 2018- Weeks 4 and 5 (21-31)

• The last two weeks saw gold prices continue to fall, trading at Rs.3,083 per gram when the week began.
• The steady drop in retail demand severely affected local prices, as industrial demand could not prop up gold rates.
• Prices rose to Rs.3,098 per gram from 22-24 July as a sudden dip in the dollar led to investor interest in gold increasing.
• Stable local equity markets led to a declining interest in the precious metal among buyers, as gold once again fell to Rs.3,083 per gram on 25 July.
• There were minor fluctuations in price as gold closed the month at Rs.3,078 per gram to record a 1.91% fall in value.

Trend of Gold Rate in Ahmedabad for June 2018 (rates per gram)

June 2018 - Week 1 (1st - 10th):

• When trading began in Ahmedabad, gold prices were recorded holding at Rs.3,203 per gram on the 1st amid strong market trends overseas.
• Gold rates surged to Rs.3,206 per gram - the highest recorded month figure - on the 2nd on account of an incline in industrial offtake for the precious metal.
• However, with the US employment data indicating an increase in the number of jobs contributing to the nation’s economy, the US dollar surged. This led to gold being priced at Rs.3,165 per gram on the 3rd.
• Thanks to steady domestic demand, prices remained untouched at Rs.3,165 per gram over the next couple of days before surging to Rs.3,170 per gram on the 6th.
• The 8th saw gold rates rising further to Rs.3,180 per gram as global markets tumbled following disagreements between the participating nations of the G7 summit, weakening the US dollar.
• However, with the US dollar index regaining lost ground, demand for the metal plunged and the yellow metal was recorded trading at Rs.3,170 per gram on the 9th.
• Trading concluded for the week with the bullion priced at Rs.3,170 per gram with subdued but steady demand for the precious metal.

June 2018 - Week 2 (11th - 17th):

• The week began with gold trading firm at Rs.3,170 per gram on the 11th before surging to Rs.3,195 per gram the next day with bullion markets capitalising on the weakened US dollar.
• Rates dropped marginally to Rs.3,190 per gram on the 13th with market participants suspending purchases amid possibilities of a Fed rate hike by the US central bank.
• Gold price in Ahmedabad remained unaltered at Rs.3,190 per gram until the 16th with subdued but steady demand from local jewellers, retailers and industries amid the weak trend overseas.
• The week came to an end with gold rate in Ahmedabad holding at Rs.3,190 per gram on the 17th.

June 2018 - Week 3 (18th - 24th):

• Trading opened for the week with gold price in Ahmedabad holding at Rs.3,179 per gram after rates dropped by Rs.11 on the 18th with the bullion market losing against the strengthening US dollar.
• Thanks to an increase in retail demand from the domestic markets, gold rates rose to Rs.3,182 per gram on the 19th.
• Gold was recorded trading at Rs.3,186 per gram on the 22nd before plummeting to Rs.3,149 per gram on the 23rd after the US dollar index touched its highest level since eleven months against other apex currencies at the international level.
• When trading concluded for the week, the yellow metal prices were recorded holding at Rs.3.149 per gram on the 24th with poor global demand amid the week market trends overseas.

June 2018 - Week 4 (25th - 30th):

• The last week of June began with gold priced at Rs.3,149 per gram on the 25th with the greenback capitalising on its gains from the previous week’s session.
• Rates rose to Rs.3,154 per gram on the 26th as domestic demand stabilised amid the weak trend overseas.
• Prices remained untouched at Rs.3,154 per gram the next day before hitting a monthly low figure of Rs.3,149 per gram on the 28th amid the strong dollar and well-performing equities.
• Trading closed for the month with the bullion prices holding slightly higher at Rs.3,159 per gram on the 30th with steady demand from local jewellers, retailers and industries amid firm global cues.
• Poor market trends overseas coupled with reduced domestic demand led to gold rates in Ahmedabad dropping by 1.37% during the course of the month.

Trend of Gold Rate in Ahmedabad for May 2018 (rates per gram of 24 karat gold

May 2018 - Week 1 (1st - 6th)

• Trading commenced for the month in Ahmedabad with gold prices holding at Rs.3,227 per gram on the 1st amid positive overseas cues.
• With the US greenback rising against other apex currencies, demand declined over the next couple of days and gold was recorded trading at Rs.3,203 per gram on the 3rd.
• Prices dropped further to Rs.3,190 per gram on the 4th with local demand held in check by the strengthened US dollar index and well-performing equity markets.
• However, an incline in industrial offtake despite the poor trend overseas led to rates rebounding to Rs.3,213 per gram on the 6th.

May 2018 - Week 2 (7 th- 13th)

• The second week saw gold prices fluctuating considerably due to vagaries in demand brought about by the enevenly performing US dollar and equities market.
• Gold was priced at Rs.3,213 per gram on the 7th, when the week began with domestic markets capitalising on the previous session’s gains.
• The 8th witnessed the yellow metal rates surging to Rs.3,227 per gram as the US dollar weakened with market participants refraining from making purchases amid the ongoing US-China trade war concerns.
• Prices plunged to Rs.3,217 per gram on the 9th before an increase in industrial orders from the Asian continent led to gold rates rebounding to Rs.3,221 per gram on the 10th.
• Thanks to steady demand from local jewellers, retailers and coin makers, prices remained untouched at Rs.3,221 per gram for the remainder of the week.

May 2018 - Week 3 (14th- 20th)

• Trading opened for the week with gold rates in Ahmedabad holding at Rs.3,242 per gram - the highest recorded monthly figure - on the 14th.
• The rise in prices was mainly attributed to the strong safe haven demand brought about by the ongoing geopolitical tensions in the US and Europe.
• With domestic demand stabilising over the next couple of days, gold was priced at Rs.3,239 per gram on the 15th and the 16th.
• The 17th saw the precious metal prices dropping to Rs.3,227 per gram before plunging further to Rs.3,207 per gram on the 18th with market sentiments revived ahead of the summit between North Korea and the United States.
• Poor market trend overseas coupled with subdued demand from domestic industries led to gold rates closing at Rs.3,200 per gram on the 20th.

May 2018 - Week 4 (21st - 27th)

• The week commenced with the bullion priced relatively higher at Rs.3,208 per gram on the 21st with markets tracking firm overseas trends from the previous session.
• With the US dollar gaining against a basket of other emerging currencies, demand declined. This led to gold rates holding at Rs.3,191 per gram on the 22nd and the 23rd. This was also the lowest figures recorded during the month.
• Thanks to an increase in retail demand from the domestic markets, prices recovered to Rs.3,211 per gram on the 24th.
• The 25th saw rates surging further to Rs.3,221 per gram owing to strong local demand coupled with positive global cues.
• With bullion markets capitalising on the losing US dollar and equity markets overseas, gold rates rose to Rs.3,237 per gram on the 26th.
• The week concluded with gold prices holding at Rs.3,216 per gram on the 27th as local demand stabilised amid the recovering greenback and stocks.

May 2018 - Week 5 (28th - 31st)

• The final week began with the yellow metal trading at Rs.3,216 per gram on the 28th with steady domestic demand coupled with firm overseas trends.
• The next couple of days saw gold priced at Rs.3,195 per gram with the US dollar regaining lost ground as the US-Sino trade war concerns eased down.
• Trading concluded for the month with gold prices in Ahmedabad holding at Rs.3,206 per gram on the 31st, registering a decline of 0.65% in bullion trade during the course of the month.

Trend of Gold Rate in Ahmedabad for April 2018 (rates per gram for 24 karat gold)

April 2018 - Week 1 (1st - 7th)

• In Ahmedabad, gold was priced at Rs.3,154 per gram when April opened for trading.
• The 3rd saw gold prices rise to Rs.3,162 per gram as demand surged because of a fall in the US dollar and the subsequent improvement in global cues.
• The reason behind this increase was US President Donald Trump who nearly sparked a trade war with China, and investors took advantage of the chaos.
• Prices went up further to Rs.3,184 per gram as the demand for gold outweighed that of the dollar.
• However, demand subsided and the week ended with gold prices holding at Rs.3,150 per gram.

April 2018 - Week 2 (8th - 15th)

• Gold rates in Ahmedabad had risen by Rs.9, when trade exchanges opened for the 8th of April.
• Rates surged again on the 9th, this time by Rs.27, and the precious metal traded at Rs.3,186 per gram amidst strong sales locally.
• Gold sales would see even better days this week, which was evidenced by another rise on the 10th. On this day, the metal traded at Rs.3,216 per gram as the US dollar seemed to regress.
• Prices over the next couple days to Rs.3,190 per gram, before rising to Rs.3,200 per gram on the final day of this week.

April 2018 - Week 3 (16th - 22nd)

• On the 16th, gold was priced at Rs.3,200 per gram before rising to Rs.3,205 per gram the next day as demand rose.
• The 18th saw price rise to Rs.3,221 per gram as the air strikes on Syria pushed safe haven demand up and investors capitalised on it.
• Rates continued to stay at Rs.3,221 per gram the next day before rising to Rs.3,247 per gram on the 21st and the 22nd - the month’s highest gold rate.

April 2018 - Week 4 (23rd - 30th)

• The final week of April saw gold rates drop gradually before increasing on the last day.
• When the week began on the 23rd of April, gold was priced at Rs.3,237 per gram as demand dropped.
• This then dropped to Rs.3,231 per gram before falling further to Rs.3,221 per gram on the 25th.
• As month-end demand went up, gold prices inclined, albeit marginally. The metal’s rates went up to Rs.3,234 per gram on the 26th.
• When the month ended, the yellow metal was priced at Rs.3,227 per gram.
• This month saw a 2.25% change in prices as demand for gold recorded significant changes owing to a shaky US dollar.

Trend of Gold Rate in Ahmedabad for March 2018 (rates per gram for 24 karat gold)

March 2018 - Week 1 (1 - 4):

• In Ahmedabad, gold rate in Gujarat varied significantly during the first week due to the uneven global cues that resulted in domestic demand vagaries.
• When trading opened for the week, the precious metal prices were recorded holding at Rs.3,159 per gram on the 1st.
• However, with the US dollar tracking a positive trend amid the well-performing equities market, demand for the metal dwindled. This led to gold prices plunging to Rs.3,158 per gram on the 2nd.
• Gold continued trading at Rs.3,138 per gram on the 3rd with subdued but steady demand from local jewellers, retailers and industries.
• The 4th saw gold rates rebounding to Rs.3,149 per gram with the US dollar losing against a basket of currencies amid the losing equities.

March 2018 - Week 2 (5 - 11):

• Uneven trends overseas coupled with varying domestic demand led to gold price in Gujarat fluctuating throughout the week.
• The week began with the yellow metal priced at Rs.3,149 per gram on the 5th amid firm global cues from the previous week.
• The 6th witnessed bullion prices rising to Rs.3,154 per gram before plunging to Rs.3,144 per gram the next day as the dollar regained lost ground in the international market.
• Local demand, however, picked up the next day with an increased buying by jewellers and retailers despite the poor trend overseas. This led to gold being priced at Rs.3,161 per gram on the 8th.
• The dollar continued to rise during the week after the US non-farm data and unemployment reports proved to be stronger than expected in the nation.
• Poor overseas trends coupled with reduced domestic demand for the metal led to gold rate in Gujarat dropping to Rs.3,149 per gram on the 9th which plunged further to Rs.3,134 per gram on the 10th.
• The week came to an end with the yellow metal priced relatively higher at Rs.3,138 per gram on the 11th with a slight incline in demand for the metal.

March 2018 - Week 3 (12 - 18):

• The week saw the bullion trade in Ahmedabad hitting their lowest monthly figures after the commodity asset failed to take advantage of the failing stock markets during the week.
• Gold was recorded trading at Rs.3,138 per gram on the 12th when the week began.
• Gold rate in Gujarat remained unaltered at Rs.3,138 per gram the next day before plunging to Rs.3,139 per gram on the 14th amid poor international trends.
• However, the sudden dismissal of the US Secretary of State Rex Tillerson by the US President led to stock markets failing. This led to gold price in Gujarat rebounding to Rs.3,149 per gram on the 15th.
• The next few days saw gold prices plummeting as the US dollar regained lost ground in the international markets. The yellow metal was priced at Rs.3,144 per gram and Rs.3,120 per gram on the 16th and the 17th respectively.
• The week concluded with the bullion trading at Rs.3,119 per gram on the 18th with poor domestic demand amid weak global cues.

March 2018 - Week 4 (19 - 25):

• The week commenced with the yellow metal prices holding steady at Rs.3,119 per gram on the 19th with no significant change in domestic orders amid the poor trend overseas.
• The 20th saw gold rate in Gujarat plunging to Rs.3,109 per gram after as US dollar rose against other apex currencies after stock markets recovered from their previous rally of losses.
• However, an increase in demand by investors and traders after tracking a strong trend overseas led to gold price in Gujarat surging to Rs.3,134 per gram on the 21st.
• Though the precious metal prices plunged to Rs.3,129 per gram on the 22nd, strong demand from local jewellers and retailers resulted in gold prices holding steady at Rs.3,149 per gram for the remainder of the week.

March 2018 - Week 5 (26 - 31):

• The last week saw gold rate in Gujarat greatly influenced by the Federal Reserve’s monetary policy for the year and the impact of the news of the new US Secretary of State John J Sullivan on the markets.
• The week opened with gold trading at Rs.3,175 per gram on the 26th with strong domestic demand amid firm overseas trends.
• With the US greenback losing against a basket of currencies amid the poorly performing stocks, gold rates rose to Rs.3,182 per gram on the 27th.
• Strong demand compounded by positive global cues led to gold rates in Ahmedabad remaining untouched at Rs.3,182 per gram until the 30th.

Trend of Gold Rate in Ahmedabad for February 2018 (rates per gram for 24 karat gold)

February 2018 - Week 1 (1 - 4):

• Gold opened at Rs.3,138 per gram when February’s trading began in Ahmedabad.
• Gold price in Ahmedabad were the same on the 2nd but surged to Rs.3,162 per gram on the 3rd because there was an increased demand for the metal from investors.
• Gold traded at Rs.3,138 per gram on the 4th of the month as demand took a hit as the US dollar shook off its losses to surge against other currencies.

February 2018 - Week 2 (5 - 11):

• There was no change in gold price in Ahmedabad when the second week of February began on the 5th of February. The metal traded at Rs.3,138 per gram over the course of this day before dropping to Rs.3,124 per gram as the dollar improved again.
• However, the surge of the USD wasn’t sustainable with the prevailing marketing conditions and the administration, which gave enough reasons for gold rate in Ahmedabad to improve.
• On the 7th, the yellow metal traded at a significantly better rate of Rs.3,154 per gram as local demand was also on the rise. But, demand went down the next day and prices went back down to Rs.3,124 per gram.
• Equity markets, which were under performing to a large extent this week, showed major gains and hence pushed gold demand down.
• Gold rates in Ahmedabad went down to Rs.3,092 per gram on the 9th before holding on till the closing hours of the 10th.
• On the final day of this week, i.e., the 11th of February, gold prices rebounded to hit Rs.3,103 per gram.

February 2018 - Week 3 (12 - 18):

• The third week began with gold continuing to trade at Rs.3,103 per gram, which then jumped to Rs.3,113 per gram the next day.
• During the 14th of February, demand for gold increased for the yellow metal traded at Rs.3,120 per gram.
• As recorded, gold rate in Ahmedabad were mostly on the incline this week, which was made possible by a weak dollar and the subsequent increase in demand.
• Gold price in Ahmedabad went up slightly to Rs.3,129 per gram on the 15th and surged by Rs.27 to trade at Rs.3,156 per gram on the 16th of the month.
• The 17th saw gold trade at Rs.3,156 per gram and rates went up again on the 18th to Rs.3,165 per gram as demand was on the increased.

February 2018 - Week 4 (19 - 25):

• On the 19th of February, when the fourth week began, gold was trading at Rs.3,171 per gram.
• This rose slightly to Rs.3,175 per gram as demand from jewellers and other quarters in the city was on the incline.
• The 21st, however, recorded a Rs.25 slump to bring rates down to Rs.3,150 per gram as local demand weakened while the dollar index hit positive figures.
• Gold rate in Ahmedabad slumped gradually this week and the metal traded at Rs.3,145 per gram on the 22nd, which then went down to Rs.3,140 per gram on the 23rd.
• Over the 24th, gold prices in Ahmedabad held on at Rs.3,140 per gram as demand was low yet stable.
• Gold price in Ahmedabad increased to Rs.3,149 per gram on the last day of this week due to positive global cues.

February 2018 - Week 5 (26 - 28):

• Gold traded at Rs.3,149 per gram on the 26th of February before continuing at the same rate on the next day as well.
• The final day of February saw gold sell at an improved rate of Rs.3,159 per gram.
• Overall, gold price in Ahmedabad trends saw a 0.66% increase over the course of this month, thanks to a volatile stock market and a burgeoning local demand.

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Trend of Gold Rate in Ahmedabad for January 2018 (rates per gram for 24 karat gold)

January 2018 - Week 1 (1th to 7th):

• The month began in Ahmedabad with gold trading at Rs.3,086 per gram on the 1st.
• Prices remained unchanged at Rs.3,086 per gram on the 2nd with steady demand from local jewellers, retailers and industries.
• The 3rd, however, saw gold rate in Ahmedabad rising to Rs.3,091 per gram with the US dollar index gaining against a basket of other apex currencies.
• Though rates remained unaltered at Rs.3,091 per gram on the 4th, a rise in the dollar value ahead of the US employment and payrolls’ data led to prices dropping to Rs.3,082 per gram on the 5th.
• Thanks to an increased buying by investors, gold price in Ahmedabad surged to Rs.3,096 per gram on the 6th before rising further to Rs.3,101 per gram on the 7th amid positive overseas trends.

January 2018 - Week 2 (8th to 14th):

• Steady domestic demand coupled with firm global cues resulted in the week opening with the yellow metal priced at Rs.3,101 per gram on the 8th.
• The gold price in Ahmedabad remained untouched at Rs.3,101 per gram on the 9th before surging to Rs.3,107 per gram on the 10th with the US dollar index losing against other major currencies in the global trade.
• Though rates dropped to Rs.3,102 per gram on the 11th, the poorly performing equity markets coupled with the losing dollar resulted in prices surging to Rs.3,117 per gram on the 12th.
• The 13th saw gold rate in Ahmedabad surging to Rs.3,119 per gram amid the strong global trends.
• The week concluded with the precious metal priced at Rs.3,130 per gram on the 14th owing to an increased demand for the safe-haven metal amid the poorly performing equities.

January 2018 - Week 3 (15th to 21st):

• Trading commenced for the third week in Ahmedabad with the bullion priced at Rs.3,130 per gram on the 15th following steady domestic demand from local retailers, industries and jewellers.
• Gold continued trading at Rs.3,130 per gram on the 16th before rising to Rs.3,170 per gram the following day with the US dollar index losing ground against a basket of other emerging currencies amid the losing equity markets.
• The 18th saw gold rate in Ahmedabad plunging to Rs.3,165 per gram which dropped further to Rs.3,145 per gram on the 19th after the US greenback began regaining lost ground from the previous day’s losses.
• A steady but subdued domestic demand amid the poor global cues resulted in gold being priced at Rs.3,145 per gram on the 20th.
• However, demand picked up the next day with investors ramping up purchases amid positive overseas trends. The yellow metal was recorded trading at Rs.3,155 per gram on the 21st.

January 2018 - Week 4 (22nd to 28th):

• The week began with the bullion prices holding steady at Rs.3,155 per gram on the 22nd, which continued to remain unchanged the next day amid firm overseas trends.
• The 24th saw gold rate in Ahmedabad surging to Rs.3,165 per gram with an increase in domestic demand following positive trends globally.
• Gold rates in Ahmedabad rose further to Rs.3,171 per gram - the highest recorded monthly figure - on the 25th with the bullion hitting 16-month highs in the international trade.
• However, with the US dollar index and equity markets regaining lost ground over the next few days, demand for the bullion plunged.
• Poor global demand coupled with reduced domestic demand resulted in gold price in Ahmedabad closing at Rs.3,134 per gram on the 28th.

January 2018 - Week 5 (29th to 31st):

• Trading commenced in the city with the yellow metal prices holding at Rs.3,143 per gram on the 29th with steady demand for the bullion.
• With the US dollar rising against other apex currencies and equities performing well against the commodity market, gold rate in Ahmedabad declined towards the end of the month.
• Gold Price in Ahmedabad dropped to Rs.3,129 per gram on the 30th before plummeting to Rs.3,120 per gram on the last day with the US dollar strengthening ahead of the two-day monetary policy meeting next month.
• The bullion trade in Ahmedabad registered a profit of 1.10% during the course of the month.

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.

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.