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  • Gold Rate In Allahabad

    Daily Gold Rates
    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    28 Mar 2017 ₹ 2,810 ₹ 22,480 ₹ 3,003 ₹ 24,024
    27 Mar 2017 ₹ 2,810 ₹ 22,480 ₹ 3,003 ₹ 24,024
    26 Mar 2017 ₹ 2,800 ₹ 22,400 ₹ 2,993 ₹ 23,944
    25 Mar 2017 ₹ 2,800 ₹ 22,400 ₹ 2,993 ₹ 23,944
    24 Mar 2017 ₹ 2,810 ₹ 22,480 ₹ 3,003 ₹ 24,024
    23 Mar 2017 ₹ 2,810 ₹ 22,480 ₹ 3,003 ₹ 24,024
    22 Mar 2017 ₹ 2,785 ₹ 22,280 ₹ 2,976 ₹ 23,808
    21 Mar 2017 ₹ 2,785 ₹ 22,280 ₹ 2,976 ₹ 23,808
    20 Mar 2017 ₹ 2,780 ₹ 22,240 ₹ 2,971 ₹ 23,768
    19 Mar 2017 ₹ 2,780 ₹ 22,240 ₹ 2,971 ₹ 23,768

    *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.

    The ancient city of Uttar Pradesh, Allahabad has housed many prominent personalities. From Amitabh Bachchan to Jawaharlal Nehru, Allahabad has been a hub of activity famous for its world-renowned university. As like all parts of eastern UP, Allahabad too shares its culture with cities like Kanpur, Lucknow and Varanasi.

    The economy of the city is majorly driven by small businesses and people working in the public sector. Schools and colleges too make up for a huge percentage of employment option. Since, the city is home to most service-sector employees, savings is one of the primary financial features of the city. And savings in the form of gold is one of the most popular financial option chosen by the local people. With the lowering of gold prices globally, Allahabad too was not untouched by the growing demand for the yellow metal.

    Rate of Gold in Allahabad

    Rate of gold is a huge factor in determining the demand for the precious metal in the city of Allahabad. The demand for the metal peaks irrespective of rate during the season of Diwali as well as during the wedding season. Let us look into the rate of gold for different variants.

    • 24 karat gold

      24 karat gold, as of 15th March, 2016 traded at Rs.3030 per gram which translates to Rs.30300 per 10 grams. 24 Karat gold is the purest form of gold and as such it is used as an investment tool since the appreciation in its value offers substantial returns. Gold, in its purest forms is also used extensively in the electronic industry where it is used in various components like those of the computer or laptop.

    • 22 karat gold

      Gold jewelry comes mostly in the form of either 22 karat or 18 karat gold. This is a mixed form of gold so as to make it more malleable and strong to be shaped into different designs. The price of 22 karat gold in Allahabad, as of 15th march 2016 is Rs.2810 per gram which means that 10 gram of 22 karat gold will cost Rs.28100. This is higher than the previous price of the yellow metal.

    Gold Rate Trend in Allahabad for October 2016 to December 2016 (per gram of 24 karat gold)

    Factor October November December
    1st day Rs.3,205 per gram Rs.3,099 per gram Rs.2,893 per gram
    Last day Rs.3,099 per gram Rs.2,930 per gram Rs.2,844 per gram
    Highest price Rs.3,205 per gram from 1st-4th October Rs.3,213 per gram on 5th November and 6th November Rs.2,893 per gram on 1st and 2nd December
    Lowest price Rs.3,088 per gram from the 6th of October to the 25th of October Rs.2,929 per gram from 25th November to 27th November Rs.2,800 per gram from 23rd December to 28th December.
    Trend Decline Decline Decline
    Change -3.16%                                   -5.45% -1.72%

    Gold Rate Trend for Allahabad in October 2016

    • Gold was priced at Rs.3,205 per gram on 1st October in Allahabad, with prices remaining constant due to high demand. This rate was sustained for the next three days, until the 4th of October as well.
    • The price of gold was completely stable at Rs.3,088 per gram for 24 carat gold from the 6th of October to the 25th of October. This is quite unusual but stable demand in both domestic and international markets could have contributed to this stability in prices.
    • However, despite the stability in prices, there was a decline of 3.16% noted in the price of gold at the end of October as compared to the beginning of the month.

    Gold Rate Trend for Allahabad in November 2016

    • The beginning of November saw gold trade at a high price of Rs.3,099 per gram. However, right from the second day of November, a rise was noted in the price of gold due to uncertainty in the international markets.
    • Price of gold was steady at Rs.3,150 per gram on the second and third day of November and rose even further the next 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.
    • Gold reached Rs.3,211 per gram in the aftermath of the demonetisation announcement and stayed there 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 marginally reducing.
    • As the month drew to a close the price of gold fluctuated slightly before closing at Rs.2,941 per gram which was again quite low as compared to the previous months. A number of factors contributed to a decline of 5.45% in the price of gold as compared to the beginning of the month.

    Gold Rate Trend for Allahabad in December 2016

    • Gold opened at Rs.2,893 per gram on the 1st of December and was steady until the next day.
    • Price of gold declined 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 price 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 price of gold was steady at Rs.2,800 per gram during the last week of December which was also the lowest rate at which gold traded at for the entire month of December.
    • Gold traded at Rs.2,844 per gram on 31st December, recording a decline of 1.72% due to low demand.

    Gold Rate Trend in Allahabad for July 2016 to September 2016 (per gram of 24 karat gold)

    Factor July August September
    1st day Rs.3,167 per gram Rs.3,219 per gram Rs.3,184 per gram
    Last day Rs.3,219 per gram Rs.3,205 per gram Rs.3,217 per gram
    Highest price Rs.3,227 per gram from 7th to 9th July Rs.3,248 per gram on 4th and 10th August Rs.3,228 per gram from 7th to 12th September
    Lowest price Rs.3,163 per gram on 22nd July Rs.3,205 per gram from 26th to 31st August Rs.3,184 per gram on 1st and 2nd September
    Trend Incline Slight decline Incline
    Change +1.64% -0.43% +1.04%

    Gold Rate Trend of Allahabad in July 2016

    • Gold traded at Rs.3,167 per gram on 1st July.
    • The Brexit vote led to growing expectations of the central banks providing monetary stimulus to the market.
    • Prices for the metal soared this month on account of higher demand.
    • On 7th to 9th July gold traded at Rs.3,227 per gram which was the highest for this month.
    • The dollar gained on the back of strong U.S. economic data which led to a fall in gold prices.
    • Overall, there was an incline of 1.61% in gold rates this week.

    Gold Rate Trend of Allahabad in August 2016

    • Domestic demand was stable as jewellers and retailers started their preparations to meet high festive demand.
    • Gold traded at Rs.3,219 per gram on 1st August and climbed to its highest rate for the month on 4th August at Rs.3,248 per gram.
    • Prospects of the Fed rate hike grew strong this month and demand for gold took a hit.
    • The market turned bearish as investors and buyers took to the sidelines.
    • As demand fell, the trend for this month was a decline of 0.43%.

    Gold rate trend of Allahabad in September 2016

    • Gold traded low on 1st and 2nd September at Rs.3,184 per gram on account of rising expectations of the Fed rate hike.
    • As the U.S. presidential elections were too close, the Federal Reserve decided to put off the rate hike till December.
    • The global market had a bullish outlook and gold prices started to recover.
    • Demand in the domestic market was also stable.
    • The overall trend for this month was an increase of 1.04% in gold prices.

    Gold Rate Trend in Allahabad for April 2016 to June 2016(per gram of 24 karat gold)

    Factor April May June
    1st day Rs. 2,943 per gram Rs. 3,119 per gram Rs.2,960 per gram
    Last day Rs. 3,119 per gram Rs. 2,960 per gram on 30th of May Rs.3,167 per gram
    Highest price Rs.3,119 per gram on 1st of May Rs. 3,120 per gram on 9th of May Rs.3,182 per gram on 28th June
    Lowest price Rs. 2,933 per gram on 5 of May Rs. 2,960 per gram on the 30th of May Rs.2,950 per gram on 2nd June
    Trend Rise Decline Rise
    Change +5.98% -5.09% +6.99%

    Gold Rate Trend of Allahabad in April 2016

    • Gold continued to trade at Rs. 2,943 per gram for the first three days of April
    • Gold rate fluctuated owing to varied demand in the month of April.

    Gold Rate Trend of Allahabad in May 2016

    • Gold rate remained unchanged Rs. 3,119 per gram for the first three days of May.
    • Gold witnessed a decline at Rs. 3,048 per gram on 24th of May owing to the expectation of a Fed interest rate hike.
    • There was a further decline of Rs. 88 by the end of May as gold stood at Rs. 2,960 per gram.

    Gold Rate Trend of Allahabad in June 2016

    • There was an increase noted in the price of gold as the month progressed.
    • Although globally, there was a rise in the price of gold, demand was still noted.
    • The highest rate of gold during the month of June in Allahabad was witnessed on the 28th, at Rs.3,182 per gram.
    • Due to Brexit, there was an increase noted in the price of gold as investors rushed to buy this precious metal amidst economic uncertainty.
    Factor January February March
    1st day Rs. 2,585 per gram Rs. 2,756 per gram Rs. 3,030 per gram
    Last day Rs. 2,756 per gram Rs. 3,037 per gram Rs. 2.948 per gram
    Highest price Rs. 2,772 per gram on January 28th Rs. 3049 per gram on 26th of February Rs. 3,030 per gram from March 1st to 14th
    Lowest price Rs. 2,580 per gram from January 2nd to 4th Rs. 2,756 per gram on February 1st Rs. 2,948 per gram on March 31st
    Trend Rising Rising Decline
    Change +6.61% +10.19% -2.70

    Gold Rate Trend of Allahabad in January 2016

    • Gold traded at a low rate of Rs. 2,585 per gram on the 1st of January.
    • Due to increase in global demand, gold rose to Rs. 2,681 per gram on 7th of January.
    • Gold hit the highest rate for January on 27th at Rs. 2,767 per gram and saw a dip again on 31st of January at Rs. 2,756 per gram.

    Gold Rate Trend of Allahabad in February 2016

    • Gold remained unchanged at Rs. 2,756 per gram on the 1st of February.
    • Gold traded at Rs. 3,008 per gram during the second week of the month.
    • February witnessed a steady rise in Gold prices as it shot up to Rs. 3,049 per gram on 26th of February.

    Gold Rate Trend of Allahabad in March 2016

    • Gold remained unchanged at Rs. 3,030 per gram for the first two weeks of May
    • 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.

    Gold investment options in Allahabad

    Since gold is a popular investment option, gold is available in various forms in the city of Allahabad. Two ways to obtain gold are either as an indirect financial instrument or by buying physical gold in the form of gold jewelry, gold bullions or gold coins.

    • Financial Market

      Gold-based financial schemes are quite popular with the people of Allahabad. Gold ETFs are an innovative way of leveraging the return-potential of gold as an investment instrument. The current government has also launched a Gold Monetization scheme wherein gold lying at home can be utilized to earn interest.

    • Over the counter

      Jewelry shops, both local and branded are places where gold is traded the most. Customers usually flock to these outlets to buy gold jewelry and even gold coins and bullions for investment purposes. Weddings and festivals are two seasons when customers visit gold sellers to buy gold.

    Also Check Gold Price in NearBy Cities of Allahabad

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