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Gold Rate in Assam
Assam, the land of tea and forests is a state with a rich cultural heritage and background. While it might be small in size, it forms an integral part of India, offering a new perspective to life in the hills. Home to some major towns and cities in the northeast, Assam has always been viewed as a prosperous place, one conducive for investments and business. Gold is intrinsic to the culture of Assam, occupying a place in the hearts and souls of residents here. Gold rates in Assam generally mimic the economic conditions prevalent in the country, which in turn are impacted by international market scenarios.
Gold continues to be viewed as an excellent investment opportunity here, making it a favourite purchase during festivals like Diwali and Dhanteras.
Trend of Gold Rate in Assam for October 2016 (rates per gram for 24karat gold)
|1st Day||Rs.3,244 per gram|
|Last Day||Rs.3,130 per gram|
|Highest Price||Rs.3,244 per gram on 1st to 11th October|
|Lowest Price||Rs.3,100 per gram on 18th October|
October 2016 – Week 1 and 2 (1st to 9th)
- Gold traded at a steady pace this week.
- The price of gold remained fixed at Rs.3,244 per gram from 1st to 9th October.
- The constant trend can be attributed to muted demand in the domestic market coupled with unfavourable global market trends.
- Demand is expected to pick up in light of the ongoing festive season and the upcoming wedding season.
October 2016 – Week 3 (10th to 16th)
- Gold continued to trade at Rs.3,244 per gram at the start of the week.
- Prices plummeted as demand declined both in the global and domestic markets.
- Gold traded at Rs.3,103 per gram on 14th October, the lowest price for the week.
- Prospects of the Fed rate hike were high.
October 2016 – Week 4 (17th to 23rd)
- Gold traded at Rs.3,106 per gram on 17th October as demand was low.
- On 18th, gold traded at its lowest for the month at Rs.3,100 per gram.
- Demand for the metal slowly picked up.
- By 22nd October, gold prices climbed up to Rs.3,129 per gram.
- The U.S. Federal Reserve was uncertain of the interest rate hike which helped gold gain its appeal back.
October 2016 – Week 5 (24th to 31st)
- Gold traded at Rs.3,124 per gram at the start of the week.
- Gold prices soared to Rs.3,139 per gram on 26th October on the back of increased demand.
- The dollar fell against a basket of currencies which worked in favour of the yellow metal.
- Gold rates settled at Rs.3,130 per gram on 27th October and stayed constant till the end of the month.
- There was a decline of 3.51% in gold rates this month.
- Demand is expected to climb as the wedding season kicks off.
|1st Day||Rs.3,218 per gram|
|Last Day||Rs.3,244 per gram|
|Highest Price||Rs.3,244 from 7th to 30th September|
|Lowest Price||Rs.3,200 on 5th and 6th September|
September '16 - Week 1 (1st to 4th)
- Demand for gold increased this week and gold prices started to climb.
- Gold traded at Rs.3,218 per gram at the start of this month.
- Weak economic data indicated that the interest rate hike by the U.S. Federal Reserve was not possible this month.
- By the end of the week, gold traded at Rs.3,239 per gram.
September '16 - Week 2 (5th to 11th)
- At the start of the week, demand dropped.
- Gold traded at Rs.3,200 per gram on 5th and 6th September.
- But by 7th September, festive demand picked up and gold prices climbed again to Rs.3,244 per gram.
- Rates remained unchanged for the rest of the week on account of steady demand.
September '16 - Week 3 (12th to 18th)
- Gold prices in Assam were unaffected by fluctuations in the market.
- Domestic demand for gold was stable lending support to gold prices.
- The price of gold remained at Rs.3,244 per gram from 12th to 18th September.
September '16 - Week 4 (19th to 25th)
- The trend of constant gold rates continued into week 4 of September.
- The global market turned bullish as the Fed rate hike was put off till December as the U.S. presidential elections were too close.
- Gold traded at Rs.3,244 per gram from 19th to 25th September.
- As the festive season approaches, gold rates were able to stay steady.
September '16 - Week 5 (26th to 30th)
- Gold prices were constant this week, trading at Rs.3,244 per gram from 26th to 30th September.
- Gold rates dropped in the global market as bearish sentiments ruled this week.
- However, in Assam, prices of gold remained unaffected.
- The trend for this month was constant with a slight increase of 0.81%.
|First Day||Rs.3,271 per gram|
|Last Day||Rs.3,237 per gram|
|Highest Price||Rs.3,287 per gram from 5th to 7th of August|
|Lowest Price||Rs.3,232 per gram on 09th August|
August '16 - Weeks 1 (1st to 7th)
- 24k gold opened at Rs.3,271 per gram on the 1st August.
- An increasing trend in gold prices this week can be attributed to the steady and constant demand for gold from domestic gold spots.
- As investors increased their intake of gold, gold prices increased and traded at Rs.3,287 per gram on the 5th of August which is the highest gold rate recorded in the month of August.
- Gold prices remained at the highest gold rate of the month from 5th to 7th of August.
August '16 - Week 2 (8th to 14th)
- Gold rate fell and traded at Rs.3,248 per gram on the 08th of August.
- Due to the pending gold rate hike speculation, gold rate fluctuated throughout the week.
- Gold rate increased and traded at Rs.3,269 per gram on the 10th of August only to drift again to Rs.3,239 per gram on 12th of August due to muted demand.
- Gold price succumbed to firm dollar and closed at Rs.3,248 per gram.
August '16 - Week 3 (15th to 21st)
- Gold rate remained steady for the first three days of the week.
- Gold traded at Rs.3,248 per gram from 15th to 17th of August.
- Investors put aside the expected rate hike from the Federal Government and started to increase their gold intake which caused gold price to increase.
- Gold prices increased and traded at Rs.3,277 per gram from 18th to 21st of the week.
August '16 - Week 4 (22nd to 28th)
- Gold prices remained unchanged throughout the week. It continued to trade at Rs.3,277 per gram from 22nd to 28th of August.
- Despite weak trend overseas, gold managed to stay stable as domestic demand didn’t cease.
- Gold rate was not affected by positive U.S employment rate, strong dollar or Fed rate hike speculation.
August '16 - Week 5 (29th to 31st)
- After trading at Rs.3,277 per gram the previous week, gold rate dipped and traded at Rs.3,237 per gram on 29th of August.
- Gold rates gave up as investors were positive about the Fed rate hike.
- Though gold closed at Rs.3,237 per gram, experts forecasted that gold will increase in the second half of the year on account of the upcoming festivals in India.
|1st July Rate||Rs.3,252 per gram|
|31st July Rate||Rs.3,292 per gram|
|Highest Rate in July||Rs.3,305 per gram on 7th July|
|Lowest Rate in July||Rs.3,218 per gram from 27th -29th July|
|Overall Performance||Increase in price|
|% Change||+1.23% increase|
July'16 - Week 1 (1st to 3rd)
- The price of gold fell during the week due to low domestic demand.
- Overseas trends pointed to a higher demand for gold, but domestic rates were unaffected.
- Gold traded at Rs.3,244 per gram at the end of the first week.
July'16 - Week 2 (4th to 10th)
- Prices began to rise as markets conditions continued to be unstable, leading investors to invest in gold.
- The Dollar continued to trade low, resulting in demand from overseas to stay high.
- Domestic demand followed international trends, with gold trading at Rs.3,281 per gram at the end of the week.
July'16 - Week 3 (11th to 17th)
- The price of gold fell as stocks made profits and the Dollar began to rise.
- Domestic demand kept up with the previous week with mild fluctuations.
- Gold traded at Rs.3,261 per gram as the week ended.
July '16 - Week 4 (18th to 24th)
- There was a slight recovery in gold prices but the resurgent Dollar led to prices falling as the week progressed.
- The markets also staged a recovery, leading to demand dipping.
- Gold traded at Rs.3,243 per gram as the week ended, recording a marginal loss of Rs.4 from the price at the start of the week.
July‘16 - Week 5 (25th to 31st)
- Equity markets fell as data showed the U.S. economy appeared to grow at a sluggish pace.
- The Dollar also suffered losses, leading to demand for gold to spike.
- Gold retailed at Rs.3,292 per gram at the end of the week, an increase of Rs.49 from the price at the start of the week.
|1st June rate||Rs.3,015|
|30th June rate||Rs.3,221|
|Highest rate in June||Rs.3,266 per gram on 27th June|
|Lowest rate in June||Rs.2,988 per gram on 3rd June|
Jun'16 - Week 1 (1st to 4th)
- The week started of with gold prices being relatively high as compared to other cities at Rs.3,015 per gram.
- There was decline in prices from there with Rs.2,988 per gram being the lowest rate of gold for the entire month, seen on the 3rd of June.
- A rise in price was noted from thereon and the week closed with Rs.3,035 per gram being the gold rate on 4th June.
Jun'16 - Week 2 (5th to 11th)
- Gold rate was Rs.3,035 per gram on the 5th minor decline was noted after that.
- Price of gold was steady at Rs.3,046 per gram from the 6th until the 8th after which prices increased even more.
- Price of gold was again steady from 10th to 12th of June at Rs.3,092 per gram.
Jun'16 - Week 3 (12th to 18th)
- There were many variations in the rate of gold in the third week of the month.
- Gold opened at Rs.3,092 per gram on the 12th and increased steadily thereafter.
- Gold rate was Rs.3,191 on the 16th and 17th before decreasing again.
- Week closed with gold being priced at Rs.3,170 per gram on the 18th.
Jun'16 - Week 4 (19th to 25th)
- Continuing from the previous week, price of gold was Rs.3,170 on the 19th before declining slightly.
- Price of gold was Rs.3,159 on the 21st and declined to Rs.3,116 per gram the next day.
- A significant rise was noted in the price of gold thereafter.
- Week closed with gold being priced at Rs.3,259 on the 24th and 25th of June.
Jun'16 - Week 5 (26th to 30th)
- In the final week of the month, price of gold was significantly higher.
- Price of gold stayed within the Rs.3,200 range.
- On the first day of the week, gold was priced at Rs.3,259 per gram.
- At the end of the month, gold rate was Rs.3,221 per gram which was a slight increase from the rate noted at the beginning of the month.
|1st May rate||Rs.3,018|
|31st May rate||Rs.3,003|
|Highest rate in May||Rs.3,157 from the 7th to the 11th of May|
|Lowest rate in May||Rs.3,003 from the 27th to the 31st of May|
|Overall performance||Loss / Negative|
May'16 - Week 1 (1st to 7th)
- Prices were recorded at Rs.3,018 on the 1st day of the month and Rs.3,157 on the 7th.
- Prices increased by Rs.31 on the 2nd day of the month to Rs.3,049, and then a loss of Rs.10 forced prices down to Rs.3,039 and they remained constant until the 5th of the month
- Prices declined by Rs.16 on the 6th to Rs.3,123, after which an increase of Rs.44 saw them rise and close the week at Rs.3,157.
- Between the first and last day of the first week of May, prices increased by Rs.141.
May ‘16 - Week 2 (8th to 14th)
- Gold rates remained unchanged on the first four days of the second week and prices remained at Rs.3,157 until the 11th of May.
- A decline by Rs.41 on the 12th of May saw prices fall to Rs.3,108.
- A small incline of Rs.3 saw prices rise to Rs.3,111 and prices remained unchanged on the last day of the week as well.
- The overall fall in prices between the first and last day of the week was Rs.46.
May ‘16 - Week 3 (15th to 21st)
- Gold prices rose by Rs.20 on the first day of the third week of May before climbing to Rs.3,131 and remained constant for another day.
- Prices then fell by Rs.8 to Rs.3,123 on the 17th after which a loss of Rs.4 on the 18th sent prices down to Rs.3,119 and they remained unchanged until the 20th of May.
- A further decline by Rs.27 saw gold close the week at Rs.3,092 per gram.
- Gold prices declined by Rs.39 over the course of the seven-day period.
May ‘16 - Week 4 (22nd to 31st)
- Gold prices were recorded at Rs.3,087 following a marginal decline on the 22nd.
- Prices fluctuated between the 23rd and 26th of May as marginal losses and marginal gains wrote off each other.
- Prices fell by Rs.37 to Rs.3,003 on the 27th of May, which was the lowest recorded price during the 31-day period, and prices remained unchanged until the end of the month.
- The overall decline in prices between the first and last day of the month was Rs.15.
|1st April rate||Rs 3,018|
|30th April rate||Rs 3,018|
|Highest rate in April||Rs 3,018 throughout the month|
|Lowest rate in April||Rs 3,018 throughout the month|
|Overall performance||No Change|
Apr ‘16 - Week 1 (1st to 3rd)
- A cautious approach by investors led to a drop in demand for gold, primarily on the back of statements concerning US Federal Rates.
- Gold traded at Rs 3,018 on 1st, with no changes observed over the week.
Apr ‘16 - Week 2 (4th to 10th)
- There were no major changes in demand, with the rates staying unchanged.
- Gold continued to trade at Rs 3,018 through the week.
Apr ‘16 - Week 3 (11th to 17th)
- Gold rates fluctuated internationally, but had no impact on prices here.
- Gold continued to trade at Rs 3,018.
Apr ‘16 - Week 4 (18th to 24th)
- There was a rollover of rates from the previous week, with no changes observed.
- Gold continued to trade at Rs 3,018.
Apr ‘16 - Week 5 (25th to 30th)
- The month ended with no changes in gold rates, in contradiction to global performance.
- Prices continued to stagnate at Rs 3,018.
|1st March rate||Rs 3,090|
|31st March rate||Rs 3,018|
|Highest rate in March||Rs 3,090 from 1st to 18th|
|Lowest rate in March||Rs 3,018 from 22nd to 30th|
Mar'16 - Week 1 (1st to 6th)
- Protests against the decision to hike excise duty on gold were witnessed in Assam.
- These protests had an inverse effect on gold trade.
- Gold rates were unchanged through the week, selling at Rs 3,090.
Mar'16 - Week 2 (7th to 13th)
- Protests continued into the second week, impacting trade.
- There were no changes in gold rates on account of protests.
- Prices remained constant at Rs 3,090.
Mar'16 - Week 3 (14th to 20th)
- The week began with no change in gold rates.
- A few jewellers reopened their stores for business.
- Prices changed on 19th, dropping to Rs 3,019 from Rs 3,090.
- There were no further changes in the week.
Mar'16 - Week 4 (21st to 27th)
- Most jewellery stores were now open for business.
- Prices dropped marginally on 22nd, as gold traded at Rs 3,018.
- There were no further rate changes in the week.
Mar'16 - Week 5 (28th to 31st)
- Prices remained unchanged from the previous week.
- Gold traded at Rs 3,018 till the end of the month.
|1st February rate||Rs.2,692|
|29th February rate||Rs.3,067|
|Highest rate in February||Rs.3,092 on 26th|
|Lowest rate in February||Rs.2,692 on 1st|
Feb '16 - Week 1 (1st to 7th)
- Gold was up at the starting of February.
- Rates were Rs.2,692 on 1st and Rs.2,882 on 7th.
- Gold gained value every day during the week and managed to rise by a cumulative margin of Rs.196 over the course of the week.
Feb '16 - Week 2 (8th to 14th)
- Gold appreciated again during the second week.
- Prices were Rs.2,864 on 8th and Rs.3,030 on 14th.
- Gold continued appreciating, rising to Rs.3,051 on 12th and 13th, marking the first time this month that the yellow metal breached the 3,000-mark.
Feb '16 - Week 3 (15th to 21st)
- Gold rates were up again during the third week.
- Prices were Rs.2,992 on 15th and Rs.3,038 on 21st.
- Gold prices slid to Rs.2,942 by 17th but gained the lost value and then some by 21st to close at Rs.3,038.
Feb '16 - Week 4 (22nd to 29th)
- Gold rates appreciated during the last days of the month.
- Prices were Rs.2,997 on 22nd and Rs.3,067 on 29th.
- Gold touched a high of Rs.3,092 on 3,092 but lost some of the gains by 29th to settle at Rs.3,067 for the month.
Details of Gold Price in Assam (22 Karat & 24 Karat) - Till October 2015
Gold rates in Assam vary depending on the purity of gold an individual intends to purchase. Gold rates for 22 and 24 karat gold are mentioned below.
24 Karat Gold – With a purity index of 99.9%, 24 karat gold is the purest form of gold available for purchase. Buyers who wish to buy 1 gram of 24 karat gold in Assam would have to shell out Rs 2,726 (as of October 15, 2015). Gold prices in Assam have been on a roller coaster ride since 2014, peaking in August 2014 and January 2015, before dropping to a five year low in July-August 2015, during which one gram of gold could be purchased for as low as Rs 2,500. Current prices have stabilised after the huge drop in rates in August.
22 Karat Gold – With a purity index of 92%, 1 gram of 22 karat gold is comparatively cheaper compared to 24 karat gold. One gram of 22 karat gold in Assam can be purchased for Rs 2,548 (as of October 15, 2015). 22 karat gold rates closely follow trends witnessed for 24 karat gold. January 2015 was the best time for gold prices, as their value reached almost Rs 2,700 per gram before gradually declining to a five year low in July, which saw rates drop to around Rs 2,400 per gram.
Gold Investment avenues in Assam
Gold is viewed as an ideal investment instrument in Assam and can be purchased in different forms to match investment requirements of individuals.
Over-the-counter – Over-the-counter gold purchases still account for a major portion of gold purchased in Assam, with a number of jewellers and banks offering a multitude of gold products to individuals. Jewellery continues to be the preferred form of investment, followed by gold coins and bullion. Products are available for every budget, with purity and quality guaranteed by almost every big brand in the state.
Market Trade – While it might still be in its infancy, market trade for gold holds a lot of potential and a small portion of the population has started dabbling in it. Gold Exchange Traded Funds (ETFs), E-gold and Futures Contracts are some of the options available to investors today. ETFs can be traded on the Mumbai Stock exchange and offer good return on investment. The National Spot Exchange permits for buying and selling of E-gold while futures contracts are an ideal investment for those looking to shield themselves from market fluctuations.
|Also Check: Gold Rate In Guwahati|
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News About Gold Rate
Gold extends losses, amid declining US gold futures and strengthening US dollar.
Three consecutive sessions of gold extending its losses, and the dollar gaining ground amid reports of the stock market rising based on positive economic data from the Far East (China).
Gold managed to strike a three-week high notch at $1,262.60 amid stocks and a tumbling US dollar, and US Gold futures declining by 1%. Following suit, silver futures also tumbled by 1%.
14th April 2016
Gold may drop below $1,200 an ounce in coming months
Gold prices are expected to drop below $1,200 an ounce in the coming months, according to GFMS analysts at Thomson Reuters report on Thursday, lead by the U.S. interest rates expected to rise and physical demand remaining soft.
GFMS said, "Following three consecutive years of annual price declines, gold has recorded a blistering start to 2016," in its Gold Survey 2015. "Such an impressive performance has been largely attributed to a reduction in risk appetite among investors and fresh interest in safe haven assets."
1st April 2016
- For more related news /update on gold price visit: Gold News