Gold Rate In Ahmedabad Today

The gold rate in Ahmedabad is determined by an array of factors. Naturally, the demand for the yellow metal plays a huge part in what it is priced at. Apart from the demand, the value of the US dollar, the global economic situation, etc. Too determine the price of the metal. More details on the price of in Ahmedabad can be found below.
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  • Today's Gold Rate in Ahmedabad ( 04 Aug 2020 )

    ₹ 5,223
    Today's Gold Rate (22K) per gram

    Compare 22K & 24K Gold Rate In Ahmedabad (Today & Yesterday)

    Today
    Yesterday
    Rate Change
    Standard Gold (22 K) ( 1 gram ) ₹ 5,223 ₹ 5,223 ₹ 0 ↑
    Standard Gold (22 K) ( 8 grams ) ₹ 41,784 ₹ 41,784 ₹ 0 ↑
    Pure Gold (24 K) ( 1 gram ) ₹ 5,484 ₹ 5,484 ₹ 0 ↑
    Pure Gold (24 K) ( 8 grams ) ₹ 43,872 ₹ 43,872 ₹ 0 ↑

    Daily Gold Rates

    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    03 Aug 2020 ₹ 5,223 ₹ 41,784 ₹ 5,484 ₹ 43,872
    02 Aug 2020 ₹ 5,223 ₹ 41,784 ₹ 5,484 ₹ 43,872
    01 Aug 2020 ₹ 5,205 ₹ 41,640 ₹ 5,465 ₹ 43,720
    31 Jul 2020 ₹ 5,195 ₹ 41,560 ₹ 5,455 ₹ 43,640
    30 Jul 2020 ₹ 5,157 ₹ 41,256 ₹ 5,415 ₹ 43,320
    29 Jul 2020 ₹ 5,110 ₹ 40,880 ₹ 5,366 ₹ 42,928
    28 Jul 2020 ₹ 5,061 ₹ 40,488 ₹ 5,314 ₹ 42,512
    27 Jul 2020 ₹ 4,992 ₹ 39,936 ₹ 5,242 ₹ 41,936
    26 Jul 2020 ₹ 4,992 ₹ 39,936 ₹ 5,242 ₹ 41,936
    25 Jul 2020 ₹ 4,950 ₹ 39,600 ₹ 5,198 ₹ 41,584

    Weekly & Monthly Graph of Gold Rate in Ahmedabad

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    *Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.

    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 June 2020 (rates per gram of 24 karat gold)

    Parameter Gold price (24 karat)
    June 1 Rate Rs.4,727 per gram
    June 30 Rate Rs.4,959 per gram
    Highest Rate in June Rs.4,959 per gram on 30 June
    Lowest Rate in June Rs.4,706 per gram on 8, 9 and 10 June
    Overall Performance Incline
    Percentage Change 4.90%

    Trend of Monthly Gold Rate in Ahmedabad for June 2020:

    • Gold opened the month of June at Rs.4,727 per gram in Ahmedabad. There was no change in the rates when compared to the price charged on the final day of the previous month.
    • Over the month the rates of the yellow metal witnessed an inclining trend in the city as demand increased over fears of a second wave of coronavirus cases across the world. Grim outlook on the economic scenario by the U.S. Federal Reserve also played its part.
    • Gold recorded its highest and lowest price for the month on 30th and 8th of July. On the mentioned dates, a gram of the 24-karat gold was retailed for Rs.4,959 and Rs.4,706. The precious metal which witnessed constant fluctuations over the month recorded a percentage of 4.90% in the rates.

    Trend of Gold Rate in Ahmedabad for May 2020 (rates per gram of 24 karat gold)

    Parameter Gold price (24 karat)
    May 1 Rate Rs.4,699 per gram
    May 31 Rate Rs.4,727 per gram
    Highest Rate in May Rs.4,883 per gram on 18 and 19 May
    Lowest Rate in May Rs.4,646 per gram on 2 May
    Overall Performance Incline
    Percentage Change 0.59%

    Trend of Monthly Gold Rate in Ahmedabad for May 2020:

    • In the month of May, the price of gold in Ahmedabad opened at Rs.4,699 per gram and desite a rise in the price of yellow metal in the middle of the week, the rate dropped to Rs.4,694 by the end of the first week. This spike in prices was due to the rising tensions between US-China tensions following the US President’s threat to impose new tariffs on China. However, the ease in lockdown restrictions in many countries around the world improved risk appetite across the globe which led to the fall in gold prices by the end of the week. The lowest price point for the month was also in this first week at Rs.4,646 per gram on 2 May.
    • The second week of May started off by being favorable for gold with international prices hovering around a 2-week high as investors anticipated good numbers from the US non-farm jobs payroll data report. The week started off with gold being at Rs.4,694 per gram for 24 karat and ending the week at Rs.4,720 per gram. Prices eased as the possibility of negative interest rates in the US was rejected by the US government. The ever mounting US-China trade tensions and fears around recession continued to keep prices going steadily throughout the second week of the month.
    • The third week of the month saw the highest price points for gold on 18 and 19 May at Rs.4,883 per gram in response to increasing fears of a global recession, rising US-China trade tensions, and no solution for the abating of the coronavirus. The price of gold at the beginning of the week was at Rs.4,788 per gram which by the end of the week was Rs.4,851 per gram for 24 karat. However, prices were held steady by a firm US dollar, increasing economic stimulus measures by central banks, easing of restrictions around the lockdown in several countries, and anticipation of successful early-stage trials of a coronavirus vaccine.
    • In the fourth week of May, there was a drop in prices of the yellow metal as Japanese equities rose in response to a potential stimulus package. Although the risk appetite improved due to the rise in Japanese equities, it was held in check by tensions around Hong Kong leading to volatility in the stock market. However, the easing of restrictions and the US dollar continuing to hold steady helped to keep the appeal of safe-haven investments fresh. Overall, the trend of gold prices for the month of May in Ahmedabad was at an incline of 0.59% as gold closed at Rs.4,727 on the last day of the month clearly showcasing the continuing unpredictability of political and economic factors around the world.

    Trend of Gold Rate in Ahmedabad for April 2020 (rates per gram of 24 karat gold)

    Parameter Gold price (24 karat)
    March 1 Rate Rs.4,229 per gram
    March 31 Rate Rs.4,761 per gram
    Highest Rate in March Rs.4,846 per gram on 29 April
    Lowest Rate in March Rs.4,229 per gram from 1 - 20 April
    Overall Performance Incline
    Percentage Change 12.57%

    Trend of Monthly Gold Rate in Ahmedabad for April 2020:

    • The prices of gold in Ahmedabad for the month of April opened at a Rs.4,229 for 24 Karat gold. This price remained unchanged for the first 20 days of the month. The reason behind prices remaining unchanged was due to global trends surrounding the coronavirus pandemic. Nations all over the world were forced go into lockdown and practice social distancing norms as fears of a global recession loomed large due to the outbreak of coronavirus, due to which the global economy took a severe hit. However, while traders moved towards more safe-haven investments such as bullions, the prices were held back from rising exponentially due to the dollar holding strong as several economic stimulus measures were announced by the US Federal Reserve as well as the central banks of almost every other country.
    • As mentioned earlier, the price of gold remained steady at Rs.4,229 per gram for 24 Karat gold for the entire week. There was tentative pull towards equities after reports of a slowdown in coronavirus-related deaths coming in from several parts of the world emerged. However, investors decided to turn to gold which is considered as a safe-haven investment because of the ever-widening reach of the coronavirus which continued to impact the global markets.
    • In the third week of April, gold continued to remain unchanged at Rs.4,229 per gram for 24 Karats, which by now was also the lowest price for gold in the month of April. The price of gold was impacted due to the release of the US payroll data which confirmed a gloomy projection for the economy as coronavirus forced every state in the US to continue the lockdown process and practice social distancing norms. The investors turned to yellow metal after US crude oil futures dropped to historic lows. The traders continued to be wary of equities and preferred to stick to bullions instead. This was also in response to increasing fears of a global recession which lowered the risk appetite of investors around the world.
    • In the last week of April, the prices of gold suddenly started changing, rising abruptly to Rs.4,727 per kg for 24 Karat at the beginning of the fourth week. This was an abrupt increase from the Rs.4,229 that it had remained on for almost 20 days previously. Gold touched its highest price point of Rs.4,846 per gram on 29 April. This was due to the havoc created by Covid-19 around the world as the death toll remaining high. Along with the weakening US dollar, optimism of the economy reopening in the US and other countries also fizzled out, forcing the investors to turn to yellow metal as a safe haven in volatile times. The overall trend for gold in Ahmedabad in April thus remained on a firm incline of 12.57% throughout.

    Trend of Gold Rate in Ahmedabad for March 2020 (rates per gram for 24 karat gold)

    Parameter Gold price (24 karat)
    March 1 Rate Rs.4,291 per gram
    March 31 Rate Rs.4,229 per gram
    Highest Rate in March Rs.4,497 per gram on 7, 8, 9, and 12 March
    Lowest Rate in March Rs.4,153 per gram on 18 and 19 March
    Overall Performance Decline
    Percentage Change -1.44%

    Gold Rate Trend in Ahmedabad for March 2020:

    • In Ahmedabad, gold price stood at Rs.4,291 per gram at the start of March. The rates of the precious metal were on an upward curve in the opening week as investors hoped for the US Federal Reserve to cut the interest rates. Gold recorded its highest price for the month on 7th March with a gram costing Rs.4,497.
    • The rates remained stagnant for the next couple of days before dropping to Rs.4,446 per gram on 10th March as traders sold their assets to hoard cash. However, with global central banks announcing measures to combat the impact of coronavirus, the rates increased slightly before slipping again in the city.
    • Gold recorded its lowest price for the month on 18th and 19th March as investors continued to sell off their assets. With global central banks coming up with measures to counter the effect of coronavirus, the rates of yellow metal climbed to Rs.4,229 per gram on 21st March.
    • Over the final week, gold prices didn’t see any change in Ahmedabad. This was accounted to not much activity with almost every country in the world being under lockdown. The precious metal closed the month at Rs.4,229 per gram with the prices declining by 1.44% in the city over the month of March.

    Trend of Gold Rate in Ahmedabad for February 2020 (rates per gram for 24 karat gold)

    Parameter Gold price (24 karat)
    February 1 Rate Rs.4,194 per gram
    February 29 Rate Rs.4,379 per gram
    Highest Rate in February Rs.4,425 per gram on 25 February
    Lowest Rate in February Rs.4,163 per gram on 6 and 7 February
    Overall Performance Incline
    Percentage Change 4.4%

    Gold Rate Trend in Ahmedabad for February 2020:

    • Gold opened on 1 February 2020 in Ahmedabad at a price of Rs.4,194 per gram. The rate had then boosted to Rs.4,217 per gram on 4 February. This can be associated with the rise in appetite for safe havens as people viewed gold as an alternative for cash. This boost in finding refuge in gold was due to the scare of the Coronavirus. On the last day of the week, 9 February, the price of the metal had gone up to Rs.4,204 per gram.
    • Gold set foot into the second week of February at a price of Rs.4,205 per gram. By 12 February, the yellow metal had taken a hit as there was an increase in risk sentiment. A boost in appetite for equities, driven by hopes to counter the epidemic had led to the dip in the price of gold to Rs.4,205 per gram on 15 February. The curtains closed on the second week of the month with gold priced at Rs. 4,229 per gram.
    • After maintaining a steady rate for two days, the rate of the metal dipped to Rs.4,219 on 18 February as the U.S. dollar had inched to a four-month high. Another impetus for this drop was the spread of the Coronavirus. The epidemic weighed on Asian equities and this had limited the bullion’s downside. The week ended with the metal seeing a jump in its rate to Rs.4,394 per gram as investors found refuge in this safe haven metal.
    • On 25 February, gold prices rose to Rs.4,425 per gram. This was because the global epidemic once again stimulated safe haven buying by traders. By the end of the month, the price of the precious metal fell as a result of traders taking profits after an intense price rally. By 29 February, gold was priced at Rs.4,379 per gram.

    Trend of Gold Rate in Ahmedabad for January 2020 (rates per gram for 24 karat gold)

    Parameter Gold price (24 karat)
    January 1 Rate Rs.4,023 per gram
    January 31 Rate Rs.4,194 per gram
    Highest Rate in January Rs.4,256 per gram on 9 January
    Lowest Rate in January Rs.4,023 per gram on 1 January
    Overall Performance Incline
    Percentage Change 4.32%

    Gold Rate Trend in Ahmedabad for January 2020:

    • A gram of gold in Ahmedabad was priced at Rs.4,023 per gram on 1 January and showed an inclining trend through the first week. With the metal hitting its monthly high at Rs.4,256 per gram due to the rising tensions in the Middle East and the impeachment inquiry on President Trump, the first week of the new decade was beneficial for the traders investing in gold.
    • However, the rising prices of the metal were short-lived as the metal’s prices dipped in the second week of the month. This was due to investors having a higher risk appetite shifted to the stock market after the Interim Phase-1 trade deal was finally signed between the U.S. and China. The precious metal was priced at Rs.4,095 per gram on 16 January.
    • With the outbreak of the Coronavirus becoming more prominent around the globe, investors awaited on the development and took into account its effect on the stoke markets. The traders also waited on the decision by the United States Federal Reserve on possible rate cuts. The price of the yellow metal remained steady in the third week of the month at Rs.4,095 per gram from 16 January to 20 January.
    • However, as the virus caused many deaths around the world and the outbreak was seen all over the globe, the WHO declared a Global Health Emergency. In light of this, investors shifted back to the bullion market because of its safe-haven appeal, thus increasing demand. The major rise in prices of the metal occurred during this time and closed the month at Rs.4,194 per gram with a percentage incline of 4.32.

    Find Today's Gold Price in Top Metro Cities

    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.

    Also Check Gold Price in NearBy Cities of Ahmedabad

    Read more on Gold

    News About Ahmedabad Gold Rate

    • Prices of gold increase by over Rs.500 for 10 grams on 11 June 2020

      Tracking an overnight rally in the international rates, the prices of gold increased in India on 11 June 2020. Gold futures prices for the month of August on MCX increased by Rs.550 and are at Rs.47,157 for 10 grams.

      Gold prices in India are inclusive of 3% GST and 12.5% import duty. In May, the prices of gold hit record highs and hit the Rs.48,000-levels for 10 grams. In the international markets, the prices of gold reduced due to a bleak economic outlook after hitting a one-week high. Spot gold prices in the international markets reduced by 0.2% and are at $1,732.56 for an ounce. In the previous session, spot gold prices hit its highest rate since 2 June 2020. According to the Chairman of the Federal Reserve, Jerome Powell, the Central Bank will continue to release measures to help the economy that has been affected due to the coronavirus outbreak. Low interest rates and large stimulus measures support the prices of gold. Gold is considered as a safe haven in the cases of currency debasement and inflation. In the global markets, the prices of gold have increased by 14% this year due to unprecedented stimulus and the fears of a recession. According to various analysts, the ultra-loose monetary policy could help support the prices of gold.

      11 July 2020

    • Gold Surges on Hopes of Fed Rate Cut

      Gold prices surged to their highest in nearly 15 weeks as global trade fears and a possible U.S. interest rate cut fuelled demand.

      Spot gold rose by 0.4% to $1,329.57 per ounce while U.S. gold futures also rose by 0.4% to $1,333.60 per ounce.

      The probability of an interest rate cut has risen after risks from the ongoing trade conflict with China were acknowledged by the U.S. Federal Reserve chief. An interest rate cut could boost gold demand since it would reduce the opportunity cost of the metal, making it a more attractive investment for non-dollar buyers.

      The recent threat of tariffs on Mexico boosted gold prices, which saw a $70 per ounce rise as investors moved away from riskier assets and moved to safe-haven bullion.

      5 June 2019

    • Gold Static on Investor Caution and Dollar Rise

      Gold gained in Friday trading as weak retail sales in the U.S. and troubling inflation data from China rattled markets and investors. Considered a safe-haven asset, gold futures for April 2019 rose by 0.2% to close at $1,316.65 per ounce on the New York Exchange’s commodities division. 

      Bad news from China further bolstered demand for bullion as growth figures consistently missed their targets, dampening investor sentiment in the economy.  

      Uncertain economic times have seen a sharp increase in demand for bullion, with gold prices rising by 12% since August 2018. The announcement of a slowdown in the pace of interest rate hikes by the U.S. Federal Reserve has also bolstered investor interest in bullion, especially among non-dollar buyers.

      15 February 2019

    • Gold Rates Surge On Rising Local Demand, Positive Trends

      Rising demand form local jewellers ahead of the festive season pushed gold prices higher. An increase in global gold demand and rates also boosted local prices, as the metal rose by Rs.130 per 10 grams. Gold of 99.9% purity traded at Rs.32,350 per 10 grams in trading, while gold of 99.5% purity rose to Rs.32,200 per 10 grams, marking an increase of Rs.130 in both cases. There was no change in the price of sovereign gold, which held steady at Rs.24,700 per 8 gram piece. Silver prices also rallied on increased industrial demand, rising by Rs.250 to trade at Rs.39,750 per kg. Silver for weekly delivery rose b Rs.251 to Rs.39,010 per kg. There was no change in the price of silver coins, which traded at Rs.75,000 for buying and Rs.76,000 for selling of 100 pieces. Globally, spot gold rose by 0.2% to trade at $1,223.66 per ounce, bolstered by rising tensions between Saudi Arabia and the United States.

      23 October 2018

    • Gold, Silver Open Trading Flat on Firming Dollar

      Gold prices were steady as markets opened on Wednesday, 18th July, 2018. The dollar continued to firm after the Fed Chairman indicated a continuation of the current economic policy. Gold futures traded flat as the commodity exchange opened, at Rs.29,732 for 10 grams. Siler futures for August delivery lost 0.03% to trade at Rs.38,510 per kg. The dollar opened higher on the positive outlook provided by the Federal Reserve, as it reached a 6-month high against the Yuan. Investors are also anticipating a steady rise in interest rates over the next few months, which further reduced gold’s appeal.

      18 July 2018

    • PNB Fraud Case Affecting Gold Sales

      The Punjab National Bank (PNB) scam has led to a crisis of confidence amongst retailers as gold buyers doubt the purity of gold in ornaments. An estimated 15-20% drop in sales has jewellers worried, especially after reports of synthetic diamonds being sold as natural ones were released.

      Gold prices were stable as investors awaited news on the imposition of tariffs on aluminium and steel. The European Central Bank’s position on monetary policy is also awaited, while positive U.S. non-farm data would also influence the price and outflow of gold.

      9 March 2018

    • 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.

      17 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.

      22 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.

      2 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

      14 January 2016

       

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