Gold rate trend in Aligarh for April 2017

• When the month of April began in Aligarh, gold prices were recorded at Rs.2,991 per gram as demand remained more or less stable.
• Prices went up to Rs.3,003 per gram - Rs.12 increase - as there was a fall in the US dollar value and a subsequent increase in international demand.
• However, gold rates went down to Rs.2,983 on the 8th - making it the lowest rate for the month - as demand from the Asian circles took a hit.
• Due to uncertainty in the global market, gold prices went up to Rs.3,036 per gram when trading began on the 12th.
• Prices increased for the next few days, hitting its peak at Rs.3,068 per gram on the 16th, despite a slump in local demand.
• As the US dollar strengthened during the third week, gold prices didn’t see much of a spike, instead ended the week on 23rd at Rs.3,062 per gram.
• The last week of April showed promise as gold was priced at Rs.3,041 per gram on 24th but as investors pulled out due to concerns, rates went down to 3,011 per gram by the 26th.
• There weren’t too many changes by the end of the month, which led to gold closing at Rs.3,011 per gram on the 30th of April.
• Despite some sluggish sales, gold price trend in Aligarh remained positive at 0.66%.

Gold rate trend for Aligarh in May 2017

• May picked up where April left off as gold was seen trading at Rs.3,011 per gram on the 1st of the month.
• As local demand took a hit, gold prices went down to Rs.2,983 per gram on the 3rd.
• By the end of the first week, gold prices had fallen down to Rs.2,952 per gram as demand went downhill owing to a comeback from the US dollar.
• Prices were going down during the second week as well as they went to Rs.2,928 per gram by the 10th and went down to as low as Rs.2,918 per gram on the 14th.
• Prices, however, rallied during the third week as they went up to Rs.2,939 on the 17th and went up to as high as Rs.2,977 per gram as domestic demand surged considerably.
• The fourth week saw marginal price increases, which brought rates up to Rs.2,992 per gram.
• Despite some rather low points during the second and third week of May, gold trading prices ended relatively better at Rs.2,992 per gram when the month ended.
• Gold price trends decline at a rate of 0.49% as local demand fell while US dollar rallied.

Gold rate trend in Aligarh for June 2017

• The month of June didn’t see too many gold rate changes, except for the first few days.
• On the 1st of June, gold was priced at Rs.3,012 per gram, which went up to Rs.3,022 per gram on the 3rd.
• As domestic demand went up owing to a shaky US dollar, gold rates went up to Rs.3,037 per gram on the 5th and then to Rs.3,057 per gram on the 7th.
• However, prices went down to Rs.3,042 per gram on the 8th, as the surge was cut off by a drop in demand.
• On the 9th, gold rates went down to Rs.3,017 per gram.
• Rates remained unchanged for the next few days as they remained at Rs.3,007 per gram from the 10th to the 15th of the month.
• The 16th saw prices go down to Rs.2,992 per gram and to Rs.2,982 per gram the subsequent day.
• Over the next few days, till the end of the month, gold prices fluctuated slightly before going as high as Rs.3,005 per gram on the 26th.
• When the 30th of June approached, gold was trading at Rs.2,992 per gram.
• Gold prices fell at a rate of 0.66% in the month of June as bullion demand was sluggish in the local market.

January 2017

• Gold started the year 2017 at a strong Rs.2,844 per gram, on account of technical buying despite a strong US Dollar on January 1st.
• An increase in domestic demand saw Gold climb to Rs.2,855 per gram on January 4th.
• Gold was stabilized at Rs.2,866 per gram to close the week’s trading on January 8th.
• A slump in US stocks as energy shares dropped along with the price of crude oil, allowed Gold to climb to Rs.2,888 per gram on January 10th.
• Uncertainty over the US Federal Interest Rate hike caused Gold to further climb to Rs.2,925 per gram on January 12th.
• Concerns amid Britain’s exit from the European Union saw the global spot price of Gold climb to Rs.2,952 per gram on January 16th and January 17th.
• Uncertainty over the US monetary policy saw the US Dollar slump, causing Gold to climb to an 8-week high of Rs.2,973 per gram on January 18th.
• Possible US Federal Interest Rate hikes saw Gold slip to Rs.2,952 per gram on January 20th.
• On the 23rd of January Gold reached a 2-month high of Rs.2,979 per gram amid uncertainty of the future US monetary policy.
• Technical corrections caused Gold to slip to Rs.2,946 per gram on January 27th.
• A weak US Dollar and sluggish economic data from the US saw Gold prices climb to Rs.2,967 per gram on January 30th.
• Gold closed the month’s trade at Rs.2,958 per gram on January 31st.

February 2017

• Gold opened the second month’s trading at Rs.2,978 per gram on February 1st.
• Uncertainty over the upcoming French election, weak industrial data from Germany and a strong US Dollar saw Gold slip to Rs.2,957 per gram to close the week’s trading on February 5th.
• A boost in demand in the domestic Gold market saw Gold prices edge up to Rs.2,999 per gram on February 7th.
• Sustained demand for Gold saw prices further climb to Rs.3,009 per gram on February 8th, 9th and 10th.
• The US Dollar strengthening against the Japanese Yen saw Gold prices slip to Rs.2,983 per gram on February 11th.
• Gold remained stable and closed the second week’s trading at Rs.2,983 per gram on February 12th.
• Gold opened the third week of trading at Rs.2,983 per gram on February 13th.
• Technical corrections saw Gold slip to Rs.2,973 per gram on February 14th and February 15th.
• A weakened US Dollar saw Gold climb to Rs.3,004 per gram on February 17th.
• Gold held firm at Rs.2,999 per gram to close the week’s trade on February 19th.
• Gold opened the fourth week of trading at a stable Rs.2,999 per gram on February 20th.
• A struggling US Dollar amid uncertainty pertaining to the US monetary policy saw Gold climb to weekly high of Rs.3,031 per gram on February 25th.
• Gold remained stable at Rs.3,031 per gram between February 25th and February 27th.
• A marginally strengthened US Dollar saw Gold prices slip to Rs.3,020 per gram to close the month’s trade on February 28th.

March 2017

• A stronger US Dollar saw Gold open trading on March 1st at Rs.3,009 per gram.
• Expectations of a US Federal Interest Rate hike in March saw Gold slip to Rs.2,990 per gram between March 3rd and March 6th.
• A weak demand domestically saw Gold prices slip to Rs.2,965 per gram on March 10th.
• A stronger US Dollar and a weak global demand saw domestic prices of Gold fall to Rs.2,951 per gram on March 14th.
• A marginally weakened US Dollar saw Gold prices rise to Rs.2,971 per gram on March 18th and March 19th.
• The failure of a new healthcare bill proposed by President Donald Trump saw Gold climb to Rs.3,003 per gram on March 22nd and March 23rd.
• Technical corrections caused Gold to slip to Rs.2,993 per gram between March 24th and March 26th.
• A strong demand for Gold allowed it to recover to Rs.3,003 per gram between March 27th and March 30th.
• Technical corrections caused Gold to drop to Rs.2,991 per gram to close the month’s trading on March 31st.

Gold Rate Trend for Aligarh in October 2016

• On 1st October, the price of gold in Aligarh was Rs.3,205 per gram. These prices were largely constant due to high demand. Gold rate was steady for the next three days, until the 4th of October.
• There were very minor variations in demand due to the U.S. Dollar resurging and also recovering stock markets. But despite external factors, the steady demand for gold was noted in the relatively stable prices. Ongoing wedding season was another factor that contributed to stable gold rates.
• Towards mid-October, price of gold stabilised some more although demand was still sluggish due to rumoured concerns that a proposed law that would result in tighter scrutiny of bullion purchases.
• Gold rate was stable and completely non-flexible at Rs.3,088 per gram for 24 carat gold from the 6th of October to the 25th of October. This trend is relatively unusual but stable demand in both international and domestic markets could have resulted in this stability of prices.
• Despite fluctuating markets due to final phase of polling in the U.S. elections was underway, the U.S. Dollar was stable due to positive economic policies and this was reflected in stable gold prices.
• Towards the end of October, from the 26th, the price of gold was steady at Rs.3,099 per gram and continued this way till the last day of October.
• However, despite the stability in the rate of gold, a decline of 3.16% noted in the price of gold at the end of the month as compared to the beginning of October

Gold Rate Trend for Aligarh in November 2016

• The beginning of the month saw gold trade at a high price of Rs.3,099 per gram. However, from the second day of November, a further increase was noted in the price of gold due to a little uncertainty in the international markets.
• Rate of gold was steady at Rs.3,150 per gram on the second and third day of November and increased even further the following day to trade at Rs.3,192 per gram.
• Gold traded at an unprecedented high of Rs.3,213 per gram on the 5th and 6th November making this the highest rate at which gold traded at for the month of November.
• However, this rise in gold rates could not be sustained and steadily declined as the month progressed. This decline could be attributed to various factors.
• The unexpected victory of Donald Trump in the U.S. Presidential elections led to markets declining and uncertainty prevailed.
• November was also the time when Prime Minister Narendra Modi unexpectedly announced the rule banning notes worth Rs.1,000 and Rs.500 in order to curb corruption. This announcement led to a lot of panic and uncertainty resulting in demand for this precious metal and consequently, a rise in gold rates.
• Gold reached Rs.3,211 per gram in the aftermath of the demonetisation announcement and was steady for a couple of days before plunging again.
• From the 11th of November to the 16th of November, price of gold was steady at Rs.3,071 per gram before slightly reducing. International markets steadied, leading to decreasing demand for gold as imports started becoming costlier.
• After November 18th, rate of gold reduced, trading at Rs.2,994 per month before rising again slightly to Rs.3,020 per gram on November 23rd.
• However rate of gold plunged again to Rs.2,971 and then Rs.2,929 per gram on the 25th of November which was the lowest rate at which gold traded at for the month of November.
• As the month drew to a close the price of gold varied slightly before closing at Rs.2,941 per gram which was again quite low as compared to the previous months. A decline of 5.45% in the price of gold was noted as compared to the price at the beginning of the month.

Gold Rate Trend for Aligarh in December 2016

• A negative impact was seen on gold demand due to demonetization and was a reflection of the international trend as well, resulting in a decline in gold rate as compared to the month of November.
• Gold traded at Rs.2,893 per gram on the December 1st and was steady until the next day.
• Rate of gold reduced slightly the next day to trade at Rs.2,887 per gram and continued at this rate until the 7th after which a slight rise was noted in the price of gold.
• The rate of gold was steady at Rs.2,864 per gram until the 14th of December after which the price of this precious metal declined again to trade at Rs.2,822 per gram until the 22nd of December.
• The run-up to Christmas saw a further reduction in the price of gold, as overseas markets were buoyed by high volumes of spending, though demand was quite low in India owing to a shortage in cash.
• The rate of gold was steady at Rs.2,800 per gram during the final week of December which was also the lowest rate at which gold traded at for the entire month of December.
• Towards the last three days of December, the rate of gold slightly recovered as the U.S. Dollar fell due to a low possibility of U.S Federal Reserve rate of interest hike.
• Gold closed at Rs.2,844 per gram on 31st December, recording a decline of 1.72% due to low demand.

Gold Rate Trend of Aligarh in July 2016

• Demand for the yellow metal surged in the global and domestic markets at the start of the month on account of positive market trends.
• Gold traded at Rs.3,167 per gram on 1st July.
• The price of gold was able to reach its highest for the month on 7th to 9th July when it traded at Rs.3,227 per gram.
• Prices fluctuated in between as the dollar gained strength leading to a dip in demand for gold.
• Gold performed well this month with an inclining trend of 1.61% in prices.

Gold Rate Trend of Aligarh in August 2016

• Demand remained stable this month as jewellers and retailers in the domestic market provided support with an increased offtake in light of the upcoming festive season.
• The highest rate for gold this month was Rs.3,248 per gram on 4th and 10th August.
• Expectations of an interest rate hike by the U.S. Federal Reserve by 20-25 basis points was strong this month.
• Investors took to the sidelines and demand fell amid a bearish global market.
• There was a dip of 0.43% in gold prices this month on account of reduced demand.

Gold rate trend of Aligarh in September 2016

• The month of September began with gold trading very low at Rs.3,184 per gram on 1st and 2nd September.
• Gold was able to recover this month on the back of the Fed rate hike being put on hold as the U.S. presidential elections were drawing close.
• Demand for the yellow metal soared once again giving gold rates support to climb back up.
• There was an increase of 1.04% in gold rates recorded this month.

Gold Rate Trend of Aligarh in April 2016

• Gold continued to trade at Rs. 2,943 per gram for the first three days of April
• Gold witnessed a lot of fluctuation in the month of April with changes in rate every week.

Gold Rate Trend of Aligarh in May 2016

• There were no major changes in demand and the rate remained unchanged at Rs. 3,119 per gram for the first three days of May.
• Gold witnessed a decline at Rs. 3,048 per gram on 24^th of May owing to low demand.
• Rising dollar and expectations of a rate hike by the Federal Reserve further led to the decline of gold price to Rs. 2,960 per gram on 30^th of May.

Gold Rate Trend of Aligarh in June 2016

• The global financial climate was gloomy as the Brexit polls took its toll.
• Gold slipped from its high rates in May trading at Rs.2,960 per gram on 1st June.
• By mid-June, as the dollar weakened, gold regained its position as rose to Rs.3,182 per gram on 28th and 29th June.
• Overall, gold gained 6.99% by the end of June.

Gold Rate Trend of Aligarh in January 2016

• Gold traded at Rs. 2,585 per gram on the 1^st of January and remained unchanged for the next four days
• Gold hit the highest rate for January on 27^th at Rs. 2,767 per gram.
• It further declined and gold traded at Rs. 2,756 per gram at the end of the month

Gold Rate Trend of Aligarh in February 2016

• Gold remained unchanged at Rs. 2,756 per gram on 1^st of February as a result of no changes in demand.
• Gold shot up to Rs. 3,008 per gram on the 12^th of February and fell back by Rs. 97 at Rs. 2,917 per gram on 16^th of February.
• The month witnessed a steady rise in Gold prices later as the price shot up to Rs. 3,049 per gram on 26^th of February.

Gold Rate Trend of Aligarh in March 2016

• Gold remained unchanged at Rs. 3,030 per gram for the first two weeks of March.
• Gold price witnessed a decline as the price fell to Rs. 2,940 per gram on 15^th of March.
• Gold rose again at Rs. 2,998 per gram on 18^th of March.
• Gold witnessed a steady downfall in the last two weeks of March and stood at Rs. 2,948 per gram at the end of March.