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Gold price in Bareilly
An important trading centre and manufacturing hub, the city of Bareilly in the state of Uttar Pradesh is also a major attraction for religious tourism. Being known as the Nath Nagri (or Land of Lord Shiva) and home to Ala Hazrat, the city attracts religious travellers and pilgrims from all over the country. Its primary revenue generation comes not from religious pilgrim tourism, but from the manufacture and trade of cotton, sugar, cereals, and cane furniture. The city is also home to an ancient fortress and is said to the place where Gauthama Buddha once visited.
Gold in Bareilly is no longer being viewed as it was, traditionally, as jewellery, ornaments, and as a status symbol of prosperity. People are starting to view gold as an investment through which to increase their wealth, instead of as just a security to be held until it appreciates.
Gold Rate Trend in Bareilly for January 2018 to March 2018 (per gram of 24 karat gold)
Rs.3,010 per gram
Rs.3,077 per gram
Rs.3,113 per gram
Rs.3,066 per gram
Rs.3,129 per gram
Rs.3,134 per gram
Rs.3,120 per gram on 24 and 25 January
Rs.3,161 per gram on 18 and 19 February
Rs.3,171 per gram on 25 and 26 March
Rs.3,010 per gram from 1 to 3 January
Rs.3,035 per gram on 9 February
Rs.3,098 per gram on 19 & 20 March
Gold Rate Trend in Bareilly for January 2018:
- The first quarter of 2018 was quite productive for gold sales in Bareilly.
- On the 1st, when the first month of Q1 2018 began, gold was priced at Rs.3,010 per gram. This rate - also the lowest for the month - continued on till the 3rd day of the month.
- Rates were on the incline from this point on as demand began to pick up amid a weak US dollar.
- The US dollar was affected by a underperforming US markets and the policy decisions taken by the Donald Trump administration.
- Gold rates in Bareilly inclined over the third and the fourth week as demand was on the incline.
- On the 25th of the month, gold rates went up to Rs.3,120 per gram - the month’s highest rates, thanks to an increased demand for the metal.
- However, rates dropped as the month came to an end as demand was sustainable. When the month ended, gold was seen trading at Rs.3,066 per gram.
- Price trends saw a 1.19% change this January, owing to a strong rise in demand towards the final week.
Gold Rate Trend in Bareilly for February 2018:
- The yellow metal’s rates had risen to Rs.3,077 per gram - a Rs.11 increase - as a change in overnight trading positions pushed gold prices up.
- This month - like the previous one - recorded a hike in gold rates as demand remained largely consistent amid favourable marketing conditions.
- Gold prices in Bareilly remained steady for the first week before dipping considerably during the second week.
- It was then that gold recorded the lowest figure of this month - Rs.3,035 per gram - on the 9th of February - as the US dollar showed some improvement.
- From the 10th onwards, gold rates were vastly on the rise as demand went up owing to strong global cues.
- The Valentine’s day weekend also helped contribute to the rise in demand as sales seemed to be reinvigorated.
- Gold traded at its highest for the month on the 18th and the 19th - at Rs.3,161 per gram - as demand reached a high point.
- Prices, however, consolidated over the subsequent days as demand went dropped amid poor sales.
- The month came to an end with gold trading at Rs.3,129 per gram. All in all, a 1.68% change in price trends were recorded this month.
Gold Rate Trend in Bareilly for March 2018:
- Gold prices had fallen to Rs.3,113 per gram when trading commenced for the final month of Q1 2018.
- The yellow metal, although seeing a positive growth, didn’t match the results from the previous two months in this quarter.
- For the first three weeks of this month, gold rates in Bareilly was largely stable before declining towards the end of week 3.
- On the 19th, gold was priced at Rs.3,098 per gram - the lowest rate for the month - which continued on till the closing hours of the next day.
- Over the final two weeks, gold rates saw a considerable rise with the 25th and the 26th recording a monthly high rate of Rs.3,171 per gram.
- As the month ended, gold rates went down to Rs.3,134 per gram as demand decline owing to a poor demand and a stabilising dollar.
- Price trends recorded a 0.67% change this month, thanks to strong changes in demand seen during the final few days.
Gold Rate Trend in Bareilly for October 2017 to December 2017 (per gram of 24 karat gold)
|1st day||Rs.3,063 per gram||Rs.3,070 per gram||Rs.3,016 per gram|
|Last day||Rs.3,026 per gram||Rs.3,006 per gram||Rs.3,020 per gram|
|Highest price||Rs.3,072 per gram on 12, 13, 14, 15 October||Rs.3,060 on 18, 19, 20 November||Rs.3,036 per gram on 2, 3 and 4 December|
|Lowest price||Rs.3,026 on 30, 31 October||Rs.3,006 per gram on 30 November||Rs.2,940 per gram 11,12, 13 December|
Gold Rate Trend in Bareilly for October 2017:
- October’s trading started with gold trading at Rs.3,063 per gram.
- The precious metal’s fluctuated for the first two weeks due to uneven demand from local circles brought about by a fluctuating dollar.
- By the 12th, gold rates hit Rs.3,072 per gram - the month’s highest rate - and continued till the 15th of the month.
- However, the US dollar continued to mount its comeback and gold rate in Bareilly seemed to fall as the month wore off.
- Gold rates in Bareilly hit their lowest for the month on the 30th and the 31st of October when the metal traded at RS.3,026 per gram.
- There was a 0.26% decline in gold price in Bareilly trends which was caused by poor demand in the domestic market.
Gold Rate Trend in Bareilly for November 2017:
- When trading began in Bareilly for the month of November, gold was priced at Rs.3,006 per gram, which was a Rs.20 decline from the previous day’s rates.
- As demand for the yellow metal continued to remain low, gold rate in Bareilly dropped to Rs.3,005 per gram on the 6th of the month.
- However, a falling trend with regards to the US dollar brought about a gradual surge in gold prices. After much fluctuations gold rates reached their highest monthly figures towards the 18th of the month when it traded at Rs.3,060 per gram.
- Gold continued to trade at Rs.3,060 per gram till the 20th as jewellers continued to increase purchases to meet festive demand.
- With the dollar clawing back as the month progressed, gold rates went down to Rs.3,026 per gram on the final day of November.
- Gold price trends inclined by 0.66% this month due to a rise in festive demand and a slightly weakened dollar.
Gold Rate Trend in Bareilly for December 2017:
- December commenced with gold trading at Rs.3,016 per gram. This rose to Rs.3,036 per gram on the 2nd - and continued till the 4th - as volatility in the US market pushed safe haven demand to new heights.
- Prices seen between the 2nd to the 4th were the highest gold rates for this month, which was brought about by US President Donald Trump’s introduction of new tax laws.
- The backlash the new tax structure brought had a considerable bearing on the way gold prices changed.
- By the 11th gold price in Bareilly dropped considerably to Rs.2,940 per gram as the US markets bounced back after some poor showing towards the beginning of the month.
- Gold rates improved over the course of the next two weeks and gold close at Rs.3,020 per gram on the 31st of December.
- Price trends had witnessed a 0.13% incline as demand picked up after falling significantly towards the second week of this month.
Gold Rate Trend in Bareilly for July 2017 to September 2017 (per gram of 24 karat gold)
|1st day||Rs.2,992 per gram||Rs.2,960 per gram||Rs.3,024 per gram|
|Last day||Rs.2,950 per gram||Rs.2,999 per gram||Rs.3,063 per gram|
|Highest price||Rs.2,992 per gram on 1 and 2 July||Rs.3,017 per gram on 28 August||Rs.3,130 per gram on 8 September|
|Lowest price||Rs.2,843 per gram on 12 and 13 July||Rs.2,930 per gram on 3, 5, 6 and 7 August||Rs.3,024 per gram on 1 September|
Gold rate trend in Bareilly for July 2017
- Gold opened at Rs.2,992 per gram on the 1st, when the week began in Bareilly. This was also the highest recorded figure gold traded at, during the month.
- Gold prices in Bareilly dropped to Rs.2,942 per gram as the US dollar strengthened on the 6th of July, which further dipped to Rs.902 per gram as local demand declined on the 9th.
- Gold trade declined with the reduced international demand and prices dropped to Rs.2.872 per gram on the 11th.
- In addition, the US employment data resulted in prices falling further to Rs.2,843 per gram the next day.
- The US economy crumpled as President Trump’s scandal took centre stage, and gold was trading at Rs.2,863 per gram on the 14th.
- Demand for the metal surged in the domestic, as well as the Asian markets, due to weak dollar rates. This led to gold rates rising to Rs.2,944 per gram on the 22nd.
- The yellow metal prices dropped to Rs.2,929 per gram on the 26th as investors refrained from making purchases, but gold trade rebounded the following day rising to Rs.2,950 per gram due to the US dollar’s poor performance.
- The US dollar dropped further with tensions rising between the US and North Korea and gold was trading at Rs.2,955 per gram on the 31st.
- Local demand dropped on the 31st and led to gold prices falling to Rs.2,950 per gram in Bareilly.
Gold rate trend in Bareilly for August 2017
- Gold was priced at Rs.2,960 per gram on the 1st of August, when trading commenced in Bareilly.
- Demand dropped globally with investors and retail jewellers suspending purchases due to speculations on the possibility of an interest rate hike by the US Federal Reserve. This resulted in gold rates in Bareilly dropping to Rs.2,930 per gram on the 3rd, the 5th, the 7th, and the 6th. This was also the lowest recorded monthly figure in the city.
- The stand-off between the US and North Korea resulted in an increasing demand for the precious metal as investors around the world gravitated to safe-haven investments. This resulted in gold rates surging to Rs.2,974 per gram and Rs.2,999 per gram on the 10th and the 11th respectively.
- The improving dollar collapsed as the ongoing conflicts between the US and North Korea sent world markets crashing. This led to gold trading at Rs.2,994 per gram on the 17th.
- Prices rose marginally to Rs.2,999 per gram on the 18th, but gold rates declined to Rs.2,982 per gram the next day due to reduced domestic, as well as, overseas demand.
- However, gold rebounded to be priced at Rs.2,992 per gram on the 24th as local demand for the metal improved despite poor global cues.
- The bullion rates surged to Rs.3,017 per gram on the 28th due to the geopolitical crisis in the Korean peninsula pushed demand for the yellow metal.
- Prices dropped towards the end of the month as the dollar rate stabilised resulting in reduced demand for the metal, and gold was trading at Rs.2,999 per gram on the last day of August.
Gold rate trend in Bareilly for September 2017
- Gold opened the month trading at Rs.3,024 per gram on the 1st in Bareilly.
- The yellow metal rates surged to Rs.3,115 per gram on the 5th as investors gravitated towards safer investments with North Korea confirming its most powerful thermonuclear test to date.
- Gold prices in Bareilly surged further to Rs.3,130 per gram on the 8th as North Korea threatened to go on a nuclear war with the US, pushing safe-haven investments higher around the world.
- The US economy recovered over the next few days and gold was trading at Rs.3,085 per gram on the 13th with reduced overseas demand.
- The US dollar collapsed with Hurricane Harvey and Hurricane Irma having taken its toll on the US coast. This resulted in an increased demand from the Asian markets, and prices rose to Rs.3,094 per gram on the 13th.
- Demand for the bullion dropped with the US dollar retaining lost ground, and the yellow metal prices dropped to Rs.3,056 per gram on the 19th.
- With the festive season around the corner, local demand improved significantly, and the precious metal was trading at Rs.3,078 per gram on the 22nd.
- The 25th witnessed gold trading at Rs.3,051 per gram, as demand declined with the US dollar dominating over other apex currencies around the world.
- The arrival of Dussehra pushed demand for the precious metal up on the 26th, and gold was trading at Rs.3,110 per gram.
- The possibility of a new Fed rate hike coupled with a strengthening dollar resulted in prices dropping towards the end of September, and gold was trading at Rs.3,063 on the 31st, when trading ended for the month.
Gold Rate Trend in Bareilly for April 2017 to June 2017 (per gram of 24 karat gold)
|1st day||Rs.2,991 per gram||Rs.3,011 per gram||Rs.3,012 per gram|
|Last day||Rs.3,011 per gram||Rs.2,992 per gram||Rs.2,992 per gram|
|Highest price||Rs.3,068 per gram on 15 and 16 April||Rs.3,011 per gram on 1 and 2 May||Rs.3,057 on 7 June|
|Lowest price||Rs.2,983 per gram from 8 - 10 April||Rs.2,918 per gram from 11 to 15 May||Rs.2,972 on 27 June|
Gold rate trend for Bareilly in April 2017
- When the month of April began in Bareilly, 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 Bareilly remained positive at 0.66%.
Gold rate trend for Bareilly 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 rate trend in Bareilly 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.
- Bullion prices fell at a rate of -0.66% during the last month of Q2 2017, as international as well as domestic demand wasn’t as good as expected.
Gold Rate Trend in Bareilly for January 2017 to March 2017 (per gram of 24 karat gold)
|1st day||Rs.2,844 per gram||Rs.2,978 per gram||Rs.3,009 per gram|
|Last day||Rs.2,958 per gram||Rs.3,020 per gram||Rs.2,991 per gram|
|Highest price||Rs.2,979 per gram on 24th January||Rs.3,031 per gram from 25th February to||Rs.3,009 per gram on the 1st and 2nd of March|
|Lowest price||Rs.2,844 per gram from 1st January to 3rd February||Rs.2,957 per gram from 4th February to 6th February||Rs.2,950 per gram on 15th March|
Gold Rate Trend for Bareilly in January 2017
- On the 1st day of the new year, gold opened at Rs.2,844 per gram and stayed steady at this rate until the 3rd of the month.
- Due to positive market cues, the rate of gold went up marginally to trade at Rs.2,855 per gram before rising even further to trade at Rs.2,866 per gram from the 5th of January to the 9th.
- Thanks to an increase in the demand for this metal, as the third week of January progressed, the rate of gold continued to rise with marginal fluctuations.
- On the 24th of January, gold traded at Rs.2,979 per gram which was the highest at which gold traded at for the month.
- At the end of the month, gold was priced at Rs.2,958 per gram, recording a rise of 4% in the rate of gold.
Gold Rate Trend for Bareilly in February 2017
- Gold traded at Rs.2,978 per gram on the 1st of February and was steady at this rate until the 3rd of February.
- However, on the 4th of February, the rate of gold reduced due to a rise in the value of the U.S.Dollar trading at Rs.2,957 per gram.
- This rate was maintained until the 6th of February post which the rate of gold increased again.
- Due to heavy demand from jewellers in domestic markets, the rate of gold shot up to Rs.3,009 per gram on the 8th of February and stayed at this rate until the 10th of February before declining again.
- The rate of gold was steady at Rs.2,999 per gram from the 18th of February to the 24th of February due to steady demand.
- Gold closed the month of February in Bareilly by trading at Rs.3,020 per gram recording an incline of 1.41% in the rate of gold.
Gold Rate Trend for Bareilly in March 2017
- Gold opened at Rs.3,009 per gram on the 1st of March and stayed at this rate until the 2nd as well
- However, the rate of gold reduced the next day to trade at Rs.2,990 per gram and stayed steady at this rate until the 6th before reducing again.
- Due to the impact of the Dutch elections as well as the U.S. Fed’s decision regarding the rate of interest, the price of gold plunged to a monthly low of Rs.2,950 per gram on the 15th of March.
- A marginal recovery was noted in the rate of gold hereafter however.
- The rate of gold fluctuated between Rs.3,003 per gram and Rs.2,993 per gram between the 22nd of March and 26th of March, before steadily trading at Rs.3,003 per gram from the 27th of March to the 30th of March.
- As the month of March ended, gold traded at Rs.2,991 per gram recording a decline of 0.59% in the price of gold.
|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.|
Gold Rate Trend for Bareilly in October 2016
- Gold rate was at Rs.3,205 per gram on 1st October in Bareilly, with prices remaining constant due to sustained demand. The rate of gold was the same for the next three days, until the 4th of October as well.
- Gold rates were steady at Rs.3,088 per gram for 24 karat gold from the 6th of October to the 25th of October. This stability can be attributed to stable demand for this metal in both domestic and international markets..
- However, despite the stability in prices, there was a decline of 3.16% noted in the price of gold at the end of October.
Gold Rate Trend for Bareilly in November 2016
- Gold rate was quite high during the beginning of the month where the price was Rs.3,099 per gram. However, prices increased from the 2nd of November due to a high demand for this metal in both domestic as well as overseas markets.
- The rate of gold was Rs.3,150 per gram on 2nd November and 3rd November. On the 4th of November, rate of gold was Rs.3,192 per gram.
- On the 5th of November, the rate of gold shot up to Rs.3,213 per gram and stayed steady at this the next day as well. This rate was the highest at which gold traded during November.
- On November 8th, Prime Minister Narendra Modi announced the ban of cash notes worth Rs.500 and Rs.1,000 in order to curb corruption and the rise of black money. This was termed as demonetization. Due to the severe cash crunch that followed in the wake of this announcement, demand for gold reduced thereby reducing the price, although market conditions prevented the decline from becoming too severe.
- Gold reached Rs.3,211 per gram in the aftermath of the demonetisation announcement and stayed there for a couple of days before reducing 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 varied before closing at Rs.2,941 per gram which was quite low as compared to the previous months. A number of factors contributed to a decline of 5.45% in the price of gold.
Gold Rate Trend for Bareilly in December 2016
- The price of gold on the 1st of December was Rs.2,893 per gram and this rate was steady until the next day.
- However, this rate could not be sustained the next day and reduced to Rs.2,887 per gram. This rate was the same until the 7th of December after which there was an increase in gold rate.
- Until December 14th, price of gold was Rs.2,864 per gram after the rate of gold declined again to Rs.2,822 per gram until December 22nd.
- During the last week of December, gold rate was steady at Rs.2,800 per gram which was the lowest price at which gold traded for the month of December.
- On the last day of the month, the price of gold was Rs.2,844 per gram. A decline of 1.72% was recorded over with respect to gold rate.
|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|
Gold Rate Trend of Bareilly in July 2016
- On 1st July, gold traded at Rs.3,167 per gram on 1st July.
- Monetary stimulus from the central banks was expected after the Brexit vote giving demand for gold a boost.
- On 7th to 9th July, gold traded at the highest price for this month which was Rs.3,227 per gram.
- Expectations of a rate hike from the U.S. Federal Reserve grew strong as U.S. economic data was positive.
- Demand took a hit and started dropping.
- On 22nd July, gold traded at Rs.3,163 per gram, the lowest for this month.
Gold Rate Trend of Bareilly in August 2016
- Gold traded at Rs.3,219 per gram on 1st August with demand picking up.
- On 4th August, gold reached the highest for the month at Rs.3,248 per gram.
- The anticipation of a Fed rate hike gained momentum and market sentiments turned bearish.
- This month, there was a decline of 0.43% in gold prices as demand for gold was low.
Gold Rate Trend of Bareilly in September 2016
- Prospects of the rate hike by the U.S. Federal Reserve stayed strong and forced gold prices down.
- On 1st and 2nd September, gold traded at Rs.3,184 per gram which was the lowest price recorded for this month.
- Demand for gold picked up significantly after the U.S. Federal Reserve postponed the rate hike to December as the presidential elections were too close.
- Gold prices climbed and recorded an increase of 1.04% this month.
|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||Rs.3,167 per gram|
|Highest price||Rs. 3, 119 per gram on 30th April, 2016||Rs. 3, 120 per gram from 7th-9th May, 2016||Rs.3,182 per gram on 28th and 29th June|
|Lowest price||Rs. 2, 943 per gram from 1st-4th April, 2016||Rs. 2, 960 per gram from 28th-31st May, 2016||Rs.2,950 per gram from 2nd to 5th June|
|Trend||Prices rose marginally||Prices fell||Gain/Positive|
|change||5.98% increase||5.09% decrease||+6.99%|
Gold Rate Trend in Bareilly in April 2016
- The strike was called off, driving up the price as domestic demand rose.
- Gold traded at Rs. 2, 943, increasing steadily over the week.
- Poor international demand affected prices marginally, but renewed demand stabilized them.
- Prices rose in the last week, with gold trading at Rs. 3, 119 on the back of higher demand, resulting in a monthly increase of 5.98%.
Gold Rate Trend in Bareilly in May 2016
- Gold began on a high, trading at Rs. 3, 119 per gram.
- In spite of global prices falling due to speculation of an imminent interest rate increase in the US, rates were stable.
- Prices stayed constant, with a few minor rate fluctuations.
- Rates fell in the last week due to a slump in demand and a resurgent Rupee gain, with gold prices at a 5.09% decrease.
Gold Rate Trend of Bareilly in June 2016
- Gold traded at low rates at the beginning of the month playing off negative cues in the global market.
- Gold traded at Rs.2,950 till 5th June, after which gold rates recovered slightly.
- As investors sought gold as a safe haven investment, gold prices started soaring again.
- The month ended on a high note of Rs.3,182 per gram on 28th and 29th June.
|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 28th Jan, 2016||Rs. 3, 049 per gram on 26th Feb, 2016||Rs. 3, 030 per gram from 1st- 14th March, 2016|
|Lowest price||Rs. 2,580 per gram from 2nd- 4th Jan, 2016||Rs. 2, 756 per gram on 1st Feb, 2016||Rs. 2, 940 per gram from 15th-17th March, 2016|
|Trend||Prices rose||Prices rose||Prices fell|
|Change||6.61% increase||10.19% increase||2.70% decrease|
Gold Rate Trend in Bareilly in January 2016
- Gold prices began at Rs. 2, 585 for a gram in January, and reached highs of Rs. 2, 772 on strong international and domestic demand.
- There was a gradual increase in price in the second week.
- The price kept increasing throughout the month due to the low value of the Rupee and steady demand by jewellers.
- The price dipped for a few days towards the end of the month but recovered to close at Rs. 2, 756.
Gold Rate Trend in Bareilly in February 2016
- Gold traded at Rs. 2, 756 for the first week on the back on stable demand domestically.
- The price increased marginally throughout the week.
- Prices reached a peak of Rs. 3, 049 towards the end of the month but dropped soon after.
- A gradually strengthening Rupee lowered prices fractionally towards the end of the month.
Gold Rate Trend in Bareilly in March 2016
- Gold began trading for the month at Rs. 3, 030.
- A national strike called by jewellers resulted in production being stopped, decreasing demand.
- The price stayed stagnant for two weeks due to no demand by jewellers.
- Prices fell in the last week, closing at Rs. 2, 948 as international markets also experienced a slump.
Gold rate in Bareilly
The base rate of gold is determined by the balance of various factors – international gold rate trends, purity of the gold (24 karat, 22 karat, 18 karat, etc.), the form in which the gold is being purchased, the date on which the gold is being purchased / sold, etc.
24 karat gold: The highest tradable purity of gold is 99.9%, or 24 karat. Gold of this purity is of the highest monetary value, but, as a result of its impeccable purity, is very brittle and soft and hence cannot be used by jewellers or goldsmiths. As 24 karat gold jewellery is almost impossible to craft, it is usually bought and sold in the form of bullion or coins. Currently, the cost of 10 grams of 24 karat gold in Bareilly is Rs.29,800 (as on the 14th of March, 2016). The price has fluctuated along with international gold rate trends over the years, and as of this month, has risen up to Rs.29,930 for 10 grams (on the 8th of March) and dropped as far as Rs.29,690 (on the 9th of March). While it stays within the same general range, the cost of gold can also sometimes be subject to dramatic rises or drops depending on a number of factors which affect the cost of the yellow metal, internationally.
22 karat gold: This is the highest purity of gold that can be used by jewellers and goldsmiths with minimal wastage. Impurities in the form of alloys are added into the gold in order to increase its strength and durability by craftsmen and jewellers. 22 karat gold is generally less expensive than pure gold, and is traded largely in the form of jewellery or ornaments. Currently, the cost of 10 grams of 22 karat gold in Bareilly is Rs.27,830 (as on the 14th of March, 2016). The cost for 22 karat gold has also felt he fluctuations of the international gold rate trend as can be seen by variations in the price this month – 22 karat gold (10 grams) dropped as low as Rs.27,750 (on the 9th of March) and gone up as high as Rs.27,970 (on the 11th of March).
Investing in gold in Bareilly
Traditional over-the-counter purchase / investment: The most trusted way to own gold is to hold in its physical form. The sense of empowerment that comes with owning physical gold has led to many glorious expeditions and conversely, tragic losses. In Bareilly, owning physical gold is a symbol and indicator of prosperity and wealth. Physical gold is mostly held in the form of jewellery for auspicious occasions or marriages, etc. and rarely as bullion or coins in this city. However, gold is being viewed more as an investment than as an ornament or piece of jewellery.
Gold ETFs, E-gold: A change in the traditional mind-set is slowly creeping up on Bareilly, as more and more people are opting to own gold in the electronic form or as ETFs. In this way, people are able to mitigate the risk involved in owning physical gold, and maximise on the potential of earning profits through trading gold smartly during periods of rise and fall in the gold rate. The Mumbai Stock Exchange and National Stock Exchange govern the purchase, sale and trade of gold ETFs and e-gold. Gold futures trading is also catching on as a potentially lucrative field of investments related to gold.
Also Check Gold Price in NearBy Cities of Bareilly
|Gold Rate In Lucknow||Gold Rate In Meerut||Gold Rate In Ghaziabad|
|Gold Rate In Kanpur||Gold Rate In Varanasi||Gold Rate In Allahabad|
|Gold Rate In Aligarh||Gold Rate In Noida||Gold Rate In Agra|
- Also Check: Gold Rate in Uttar Pradesh
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