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Gold Rate in Bhubaneswar
Buying gold is a fascination for people in Odisha, and Bhubaneswar, the state capital follows a similar trend. The demography of Bhubaneswar comprises people from various parts of the country and Odisha is the one of the most populated states in India. Naturally, the tastes of people pertaining to buying gold also differs by large degrees. Gold rates in Bhubaneswar for varying products like bullion and bars are indicative of the prices of the precious metal over the globe. The gold rate in Bhubaneswar changes depending on the numerous festivities that go on in the culturally diverse state of Odisha.
Gold jewellery is the primary means of investing in gold in Bhubaneswar. It is a mode of gifting as well. Numerous occasions, a multitude of festivities and a plethora of functions are all valid reasons for buying or gifting gold jewellery. In addition to that, Odisha being a state populated by artisans, designs and variants of jewellery are always on the rise. Being the state capital, Bhubaneswar also plays host to many jewellery exhibitions and shows, furthering the cause of gold investment. All levels of the economy are involved in investing in gold jewellery, though the middle class and upper-middle class are more active in the same.
Trend of Gold Rate in Bhubaneswar for January 2018 (rates per gram for 24 karat gold)
|Parameters||Gold price (24 karat)|
|Gold Rate on 1st January 2018||Rs.3,009 per gram|
|Gold Rate on 31st January 2018||Rs.3,127 per gram|
|Highest Rate in January||Rs.3,132 per gram on 29 and 30 January|
|Lowest Rate in January||Rs.3,000 per gram on 4 January|
|Overall Monthly Performance||Incline|
Trend of Gold Rate in Bhubaneswar for December 2017 (rates per gram for 24 karat gold)
|Parameters||Gold price (24 karat)|
|Gold Rate on 1st December 2017||Rs.3,213 per gram|
|Gold Rate on 31st December 2017||Rs.3,175 per gram|
|Highest Rate in December||Rs.3,224 per gram on 02 December|
|Lowest Rate in December||Rs.3,099 per gram on 13 December|
|Overall Monthly Performance||Falling|
December 2017 - Week 1 (1st to 10th)
- The week began in Bhubaneswar with the precious metal trading at Rs.2,982 per gram on the 1st amid firm trends overseas.
- On the 2nd, prices surged to Rs.3,002 per gram with the US dollar weakening against other apex currencies after the US tax reform plans were stalled in the US Senate.
- However, the US Senate’s decision to approve the bill through a vote after setting aside the differences between the House and the Republicans led to the US dollar gaining significantly. This led to gold rates plunging to Rs.2,977 per gram on the 4th.
- Poor global trends coupled with reduced domestic demand for the metal resulted in prices dropping further as the week progressed.
- Gold was priced at Rs.2,968 per gram on the 5th before dropping to Rs.2,957 per gram on the 6th amid the strong US dollar index.
- With the bullion registering near four-month lows in the global market, the yellow metal was recorded trading at Rs.2,920 per gram on the 8th amid the poor overseas trends.
- However, with local jewellers and retailers ramping up purchases to meet the ongoing wedding season demand, prices rebounded to Rs.2,927 per gram on the 9th.
- Steady domestic demand despite the poor global cues resulted in the gold rates holding at Rs.2,927 per gram for the rest of the week.
December 2017 - Week 2 (11th to 17th)
- When trading commenced for the second week, the yellow metal was recorded trading relatively lower at Rs.2,911 per gram on the 11th with a decline in domestic demand for the metal.
- With markets cautious ahead of the upcoming Federal Reserve monetary policy meeting, gold rates dropped to Rs.2,908 per gram on the 12th before dropping further to Rs.2,906 per gram the next day.
- The 14th saw gold prices rising to Rs.2,929 per gram with the US dollar losing against a basket of other emerging currencies.
- Though rates plunged to Rs.2,917 per gram the next day, a strong global safe-haven demand following the release of new Fed rates led to gold prices surging to Rs.2,927 per gram on the 17th.
December 2017 - Week 3 (18th to 24th)
- The bullion was priced at Rs.2,922 per gram on the 18th when trading opened for the week.
- A rise in domestic demand from jewellers, retailers and industries despite the poor trend overseas led to rates rising to Rs.2,933 per gram on the 19th.
- With the US dollar losing its sheen in the international markets, prices surged to Rs.2,937 per gram on the 21st.
- Though gold rates plunged to Rs.2,931 per gram on the 22nd with the US dollar recovering from its previous losses, prices rebounded to Rs.2,956 per gram on the 23rd with investors mulled over the ultimate outcome of the US tax system overhaul of the country’s economy.
- Prices remained unchanged at Rs.2,956 per gram on the 24th owing to steady domestic demand brought about by the positive overseas trends.
December 2017 - Week 4 (25th to 31st)
- The final week of the year began with gold priced relatively lower at Rs.2,945 per gram on the 25th.
- Strong domestic demand compounded by positive global cues led to gold prices rising to Rs.2,957 per gram on the 26th which further surged to Rs.2,964 per gram the following day amid the weakened US dollar and equities.
- With global demand hitting near four-week highs, the bullion rates spiked to Rs.2,985 per gram on the 28th.
- Prices rose slightly to Rs.2,988 per gram on the 29th before surging to Rs.3,015 per gram on the 30th with the US dollar losing against other apex currencies amid the US-North Korean diplomatic relations worsening.
- When trading concluded for the week, the bullion prices were recorded holding steady at Rs.3,015 per gram on the 31st amid the firm trends overseas.
- Bhubaneswar recorded an incline of 1.10% in gold rates during the course of the month.
Trend of Gold Rate in Bhubaneswar for November 2017 (rates per gram for 24 karat gold)
|Parameters||Gold price (24 karat)|
|Gold rate on 1st November 2017||Rs.2,974 per gram|
|Gold rate on 30th November 2017||Rs.2,996 per gram|
|Highest Rate in November||Rs.3,030 per gram 18 to 20 November|
|Lowest Rate in November||Rs.2,974 per gram on 1 and 6 November|
|Overall Monthly Performance||Incline|
November 2017 - Week 1 (1st - 5th)
- The week started with gold priced Rs.2,974 per gram.
- On the first day of the month, the price was on the weaker side owing to the poor trend overseas.However, as the demand in the local market spiked up, the bullion price rose to trade at Rs.2,987 per gram on 2nd November. .
- Strong global cues boosted the US dollar that resulted the metal’s prices to slip down slightly.
- Gold rate in Bhubaneswar was Rs.3,987 per gram only to fall further to Rs.2,977 per gram.
- The rates remained stable on the last day of the week.
November 2017 - Week 2 ( 6th - 12th)
- Prices remained stable on the second week due to the static demand from the investors and buyers.
- Gold was priced Rs.2,974 per gram on the first day of the week only go up by Rs.23 per gram. Gold price in Bhubaneswar went up due to the increase in demand in the Asian market.
- Due to the rising demand, gold pricein Bhubaneswar reached Rs.2,997 per gram. The prices were fluctuating in line with the investors opinion at the end of the two-day monetary policy meeting by Federal Reserve.
- Delay in President Trump’s tax reform policy further raised uncertainty among the investors and accelerated the gold’s price to Rs.3,005 per gram.
- On 9th November, the prices remained the same, and then jumped up by Rs.10 per gram and traded at Rs.3,015 per gram that was stable for three days continously.
- US dollar losing its value against other currencies, crept up the gold’s rate as the week ended.
November 2017 - Week 3 (13th - 19th)
- The third week of November saw a steep rise in the metal’s price and touched three-week high.
- On 13th November 2017, gold opened at Rs.3,007 per gram and went up as the week progressed.
- Demand from the local market further raised the metal’s price by Rs.11 per gram on 15th November 2017. The gold price in Bhubaneswar remained steady on the next day.
- The political turmoil caused by the Saudi Arabian crisis, was the prime reason that made gold unreachable for most of the locals.
- Nevertheless, the treasury yields of US helped the yellow metal to gain stability and edge down to Rs.2,999 per gram, a Rs.19 per gram drop.
- On 18th November, gold’s price was the highest. The jump in the price to Rs.3,030 per gram was again due to the rising instability in the US economy. Gold closed at the same price on 19th November.
November 2017 - Week 4 (20th - 26th)
- Gold rate was stable as of the last week as the week commenced due to the continuing market instability that raised the luster of gold and made it a safe haven.
- To ease the rising tension, the US treasury stepped ahead, which helped the gold price in Bhubaneswar to slip slightly and trade at Rs.3,004 per gram.
- Gaining stability in the US dollars attracted the investors that dropped the gold rate in Bhubaneswar to Rs.2,996 per gram.
- On 23rd and 24th November, gold’s rate was steady, with gold priced Rs.3,015 per gram. The growing demand for gold in the Asian as well as the US market raised the bullion price drastically.
- However, the week ended on a good note as the buyers could afford to buy gold at Rs.3,004 per gram.
November 2017 - Week 5 (27th - 30th)
- Gold price in Bhubaneswar surged as the week began due to the delay in the tax reform decision. Gold was priced Rs.3,013 per gram. However, the relief among the investors due to the support from the US reserve bank edged down the gold’s price to Rs.3,009 per gram
- As the week was about to end, gold’s demand rose as it traded at Rs.2,996 per gram. Overall, it was a good month for gold at Bhubaneswar.
|Parameters||Gold Price (per gram for 24K gold)|
|Gold Rate on 1st October 2017||Rs.3,040 per gram|
|Gold Rate on 31st October 2017||Rs.2,996 per gram|
|Highest Rate in October 2017||Rs.3,059 per gram from 14 to 15 October|
|Lowest Rate in October 2017||Rs.2,996 per gram on 31 October|
|Overall Monthly Performance||Decline|
October 2017-Week 1 (1st to 8th)
- As the month commenced, gold at Bhubaneswar was priced Rs.3,040 per gram.
- Over the course of the week, gold prices fell. This was mostly due to the strong US dollar and equity market.
- The gold price in Bhubaneswar dipped by Rs.43 per gram and touched Rs.2,997 per gram on 6 October.
- There has been a slight rise in the gold price in Bhubaneswar to Rs.3,102 per gram due to slight rise in the local demand.
- For the last two days of the week, the yellow metal was priced Rs.3,017 per gram. The lack of demand from the retailer, buyers and jewellers together influenced the gold to be traded at low price, for the fifth consecutive session.
October 2017-Week 2 (9th to 15th)
- On the second week, gold traded at the highest price and touched the maximum..
- The first day has the record of gold traded at Rs.3,027 per gram, only before it jumped up to Rs.3,033 per gram and was steady at that price for almost two days.
- The sudden rise in the gold price in Bhubaneswar was the nearing festive season. Moreover, North korea’s rising nuclear power has increased volatility in the US market.
- The war of words between two nations has helped the precious metal to be priced Rs.3,059 per gram on 15 October.
- The impacts of Hurricane IRMA and Harvey as well as rising geopolitical tension has resulted the gold prices in Bhubaneswar to edge up.
October 2017-Week 3 (16th to 22nd)
- Amid the festive season, gold prices dropped exponentially, due to the strong US dollar and equity market.
- Gold rate in Bhubaneswar was at Rs.3,034 per gram on the first day of the week.
- The losing appeal of the pure metal due to the rising popularity of the silver, home and car further dropped the gold price in Bhubaneswar to Rs.3,017 per gram on 19 October and was stable until 22 October.
October 2017-Week 4 & Week 5 (23rd to 31st)
- The week began with gold traded at Rs.3,009 per gram.
- As the week progressed, the prices fell drastically. The declining Gold Exchange traded fund and bounced equity linked savings scheme resulted the prices to inch down.
- Demand for the metal went down towards the end of the week and touched gold price in in Bhubaneswar at Rs.2,996 per gram due to the subdued demand from the industry.
|Parameters||Gold price (24 karat)|
|Gold rate on 1st September 2017||Rs.2,995 per gram|
|Gold rate on 30th September 017||Rs.3,040 per gram|
|Highest Rate in September||Rs.3,100 per gram on 8 September|
|Lowest Rate in September||Rs.2,995 per gram on 1 September|
|Overall Monthly Performance||Incline|
September 2017 - Week 1 (1st-10th)
- When the week began in Bhubaneswar, gold traded at Rs.2,995 per gram on the 1st.
- Prices rose marginally to Rs.2,997 per gram on the 2nd with a slight increase in local demand.
- Gold rates in Bhubaneswar remained untouched at Rs.2,997 per gram due to steady demand from investors and retailers.
- Global markets crashed as the US-North Korea relations worsened. This led to gold rates rise to Rs.3,073 per gram on the 4th.
- Rates rose further to Rs.3,084 per gram on the 5th, and to Rs.3,088 per gram on the 6th as North Korea began testing powerful nuclear weapons.
- However, prices dropped the next day to Rs.3,071 per gram due to decreased purchases.
- Safe haven investments witnessed a rise following the North Korean nuclear tests. This led to gold rates touching a monthly high figure of Rs.3,100 per gram on the 8th.
- Gold prices in Bhubaneswar dipped to Rs.3,095 per gram on the 9th and the 10th as demand for the metal subsided marginally.
September 2017 - Week 2 (11-17):
- The second week witnessed gold rates fluctuating as the week progressed.
- The week opened with gold trading at Rs.3,074 per gram on the 11th as a result of reduced demand from jewellers and local traders.
- Stock markets crashed as the US-North Korea relations worsened. However, demand for the precious metal declined and prices dropped to Rs.3,051 per gram on the 12th.
- Gold prices in Bhubaneswar rose to Rs.3,064 per gram on the 13th before sliding to Rs.3,050 per gram on the 14th with jewellers and retail customers suspending their purchases.
- Rates stayed static at Rs.3,050 per gram for the remainder of the week owing to steady demand for the metal.
September 2017 - Week 3 (18th-24th)
- The third week saw gold start on a low note at Rs.3,041 per gram on the 18th as the US dollar value strengthened.
- Gold price in Bhubaneswar dropped further to Rs.3,023 per gram on the 19th awaiting disclosure on the latest Federal Reserve meetings.
- With the festive season arriving, gold rates rose to Rs.3,045 per gram on the 20th.
- Demand for the precious metal receded against the strong US dollar. This resulted in gold trading at Rs.3,018 per gram on the 21st.
- Gold trade bounced back to Rs.3,045 per gram on the 22nd as investments rose due to the US-North Korea conflicts.
- Prices remained unchanged at Rs.3,045 per gram on the 23rd and the 24th, thanks to steady domestic demand for the metal.
September 2017 - Week 4 (25th-30th)
- The final week in Bhubaneswar saw gold start at Rs.3,020 per gram on the 25th.
- With the festive season having begun, demand for gold rose immensely and prices surged to Rs.3,081 per kg on the 26th.
- However, gold rates in Bhubaneswar dropped to Rs.3,055 per gram on the 27th with the dollar going strong.
- With the US economy having bounced back and investors suspending purchases, prices slid to Rs.3,036 per gram on the 28th, and to Rs.3,028 per gram on the 29th.
- The last week ended with gold trading at Rs.3,040 per gram on the 30th.
|Parameters||Gold price (24 karat)|
|August 1 Rate||Rs.2,931 per gram|
|August 31 Rate||Rs.2,965 per gram|
|Highest Rate in August||Rs.2,980 per gram on 29 August|
|Lowest Rate in August||Rs.2,900 per gram from 5-8 August|
|Overall Monthly Performance||Incline|
August ‘17- Week 1 (1st to 6th)
- Gold prices were on the decline in the first week of August in Bhubaneswar as stable markets led to a drop in demand.
- The yellow metal traded at Rs.2,931 per gram on 1 August before falling to Rs.2,901 per gram on 3 August as a result of declining interest in bullion.
- Gold rate in Bhubaneswar fluctuated for the rest of the week as gold traded at Rs.2,913 per gram on 4 August after a marginal increase in demand from Asian markets.
- A rally by the markets and the impending release of U.S. jobs data led to gold prices falling to Rs.2,900 per gram on 5 & 6 August.
August ‘17- Week 2 (7th to 13th)
- Gold price in Bhubaneswar rose marginally in the second week, though gold opened the week at Rs.2,900 per gram on 7 August.
- Trading in the precious metal increased resulting in the price rising to Rs.2,908 per gram on 9 August.
- With markets falling after dismal employment data and renewed rhetoric regarding the building of a wall near the Mexican border, demand for gold rose as the price shot up to Rs.2,944 per gram on 10 August.
- Demand continued to rise as local industry also increased orders as gold reached Rs.2,977 per gram on 12 & 13 August.
August ‘17- Week 3 (14th to 20th)
- Prices stabilised after the late rally in the previous week, with gold trading at Rs.2,968 per gram on 14 August.
- Interest in the metal fell in spite of favourable market conditions, as retail consumers were put off by the high price.
- Gold rate in Bhubaneswar dropped to Rs.2,951 per gram on 16 August but recovered as the week progressed to trade at Rs.2,972 per gram on 18 August.
- A drop in demand from American industry led to gold falling to Rs.2,951 per gram on 19 & 20 August.
August ‘17- Week 4 (21st to 27th)
- The decline in price continued in the fourth week as gold traded at Rs.2,944 per gram on 21 August.
- A sudden drop in the U.S. dollar rate led to an increase in demand from overseas, leading to gold trading at Rs.2,958 per gram on 22 August.
- Local demand was stable but muted as gold recorded marginal increases in price to Rs.2,967 per gram on 25 August.
- Prices remained unchanged as the week drew to a close as gold traded at Rs.2,967 per gram on 27 August in spite of fluctuations in the dollar rate and unstable markets.
August ‘17- Week 5 (28th to 31st)
- A drop in price was recorded as gold traded at Rs.2,942 per gram on 28 August, attributed to a decline in demand from overseas industry.
- Prices rebounded to trade at Rs.2,980 per gram on 29 August as the fear of a nuclear war with North Korea led to U.S. markets crashing and the dollar weakening.
- Demand was stable as the week ended, with gold price in Bhubaneswar at Rs.2,973 per gram on 30 August.
- A slight dip in demand was observed on the last day of the month as gold traded at Rs.2,965 per gram.
|Parameters||Gold price (24 karat)|
|July 1 Rate||Rs.2,950 per gram|
|July 31 Rate||Rs.2,920 per gram|
|Highest Rate in July||Rs.2,950 per gram on 1 and 2 July|
|Lowest Rate in July||Rs.2,800 per gram on 14 July|
|Overall Monthly Performance||Decline|
July 2017 - Week 1 (1st - 9th)
- In Bhubaneswar, Odisha’s capital, gold traded at Rs.2,950 per gram on the 1st of July.
- As demand remained steady from local buyers, prices remained unchanged on the 2nd of the month.
- However, as Independence Day mood in the US set in, gold rates elsewhere took a dip.
- Prices went down to Rs.2,940 per gram on the 3rd due to a slightly improved dollar.
- The 4th of July saw gold prices in Bhubaneswar dip considerably to Rs.2,914 per gram before going down to Rs.2,908 per gram on the 5th.
- Gold price in Bhubaneswar increased slightly to hit Rs.2,910 per gram on the 6th but slipped on the 7th for the metal to trade at Rs.2,892 per gram .
- Gold rates dipped again on the 8th to go down to Rs.2,869 per gram and continued at the same rate when the week came to an end on the 9th of July.
July 2017 - Week 2 (10th - 16th)
- The second week of July saw gold prices in Bhubaneswar dip for the most part, owing to steadily decreasing demand.
- On the 10th of the month, gold was trading at Rs.2,867 per gram, which then went down to Rs.2,824 per gram the next day.
- As domestic buyers remained wary of a strengthening dollar, gold rates dipped for the third consecutive day to reach Rs.2,815 per gram.
- This week saw gold rate in Bhubaneswar reach their lowest for the month of Rs.2,800 per gram as price corrections remained the dominant theme.
- However, the 15th saw prices increase considerably after tensions in the US led to a fall in the dollar value.
- During the last two days of July week 2, gold was selling at Rs.2,818 per gram.
July 2017 - Week 3 (17th - 23rd)
- When the third week began, gold prices had already improved for the yellow metal to trade at Rs.2,822 per gram.
- Gold gained back of its lost value this week as conflicts involving the US paved the way for a revival in demand.
- Gold rate in Bhubaneswar went up to Rs.2,833 per gram on the 18th and went up again on the 19th to Rs.2,850 per gram.
- Bullion rates improved gradually over this week and - by the end of the 23rd - rates had reached Rs.2,917 per gram - a massive Rs.95 gain over the course of seven days.
July 2017 - Week 4 (24th - 31st)
- The final week of July 2017 saw gold prices fluctuate but remain steady for the most part.
- When the week began on the 24th, the precious, yellow metal was priced at Rs.2,916 per gram - which briefly went down to Rs.2,899 on the 26th before bouncing back up.
- On the 27th, the metal’s prices went up to Rs.2,920 per gram - as demand remained bullish amidst concerns of a slowdown in the US economy.
- Price of gold in Bhubaneswar reached the highest of Rs.2,926 per gram for the week on the 29th before ending the month at Rs.2,920 per gram.
- The late flourish saw to it that gold price trends changed at a rate of -1.01% for this month.
|Parameters||Gold price (24 karat)|
|June 1 Rate||Rs.2,985 per gram|
|June 30 Rate||Rs.2,967 per gram|
|Highest Rate in June||Rs.3,030 per gram on 7 June|
|Lowest Rate in June||Rs.2,940 per gram on 20 June|
|Overall Monthly Performance||Decline|
June ‘17- Week 1 (1 to 4)
- Gold prices for Bhubaneshwar fluctuated in the first week of June but ended on a high due to increased demand from the industrial sector.
- Gold traded at Rs.2,985 per gram on 1 June before falling sharply to Rs.2,964 per gram on 2 June.
- Local demand helped boost prices as jewellers and retailers increased orders in anticipation of higher rates after the implementation of GST.
- Gold prices rose to Rs.2,998 per gram on 3 June and the price remained unchanged as the week ended on 4 June.
June ‘17- Week 2 (5 to 11)
- Market fluctuations as well as internal tensions led to a dip in the U.S. dollar rate and a plunge in the stock markets, which led to an increase in gold demand.
- The yellow metal traded at Rs.3,012 per gram on 5 June on the back of strong demand from investors as well as industry as currency markets were unstable.
- Prices rose to their monthly high of Rs.3,030 per gram on 7 June as local demand also rose due to positive cues from overseas.
- As the week progressed, demand dropped slightly as stock markets began to recover from their earlier poor performance, with gold prices falling to Rs.3,017 per gram on 8 June.
- Prices fell further as the week ended, with gold trading at Rs.2,981 per gram on 11 June due to a sharp drop in demand.
June ‘17- Week 3 (12 to 18)
- As markets recovered and currency markets stabilised, demand for gold fell further, with the metal trading at Rs.2,975 per gram on 12 June.
- Prices rose marginally to trade at Rs.2,979 per gram on 14 June but soon fell as positive data from the United States led to a rally by stock markets globally.
- Gold was priced at Rs.2,957 per gram on 16 June amidst a slowdown in industrial demand for the metal.
- Prices rose Rs.2,955 per gram on 18 June but the overall trend was one of a drop in demand.
June ‘17- Week 4 (19 to 25)
- The downward slide in the price of gold continued in the fourth week as the metal traded at Rs.2,949 per gram on 19 June.
- Sharp cuts in orders led to prices falling to their lowest rate of Rs.2,940 per gram on 19 June, though demand from local jewellers led to prices rising as the week progressed.
- Asian demand for gold also helped raise prices, as gold traded at Rs.2,958 per gram on 23 June.
- Stable and consistent demand from jewellers as well as a rise in demand from retailers led to gold ending the week trading at Rss.2,964 per gram on 25 June.
June ‘17- Week 5 (26 to 30)
- WIth the imposition of GST not far off, demand for gold increased as markets were apprehensive of the switch to the new system.
- Gold traded at Rs.2,977 per gram on 26 June but fell to Rs.2,940 per gram on 27 June due to a rally by the U.S. dollar which led to a lowering of demand overseas.
- The unstable Indian stock market led to investors rushing to invest in bullion, which raised gold’s valuation to Rs.2,967 per gram on 28 June.
- Apart from a minor fluctuation, prices were stable as the month ended, with gold trading at Rs.2,967 per gram on 30 June, though prices fell by 0.60% over the course of the month.
|May 1st Rate||Rs.2,984 per gram|
|May 31st Rate||Rs.2,963 per gram|
|Highest Rate in May||Rs.2,984 per gram on the 1st May|
|Lowest Rate in May||Rs.2,890 per gram on 15th May|
May 2017 - Week 1 (1st-7th):
- As Bhubaneswar Isn't a particularly big gold-consuming city, gold prices saw a decline in May 2017.
- The month began with gold priced at Rs.2,984 per gram - which also happened to be the highest gold rate for the entire month.
- From then on, prices seemed to ride the sine wave as demand was a little too flimsy.
- The 2nd saw gold prices dip by Rs.29 as local demand took a hit way more than expected and fell again on the 3rd to reach Rs.2,950 per gram.
- On 4th, gold took a second sub-20 rupee hit in the same week to go down to Rs.2,922 per gram.
- It was all downhill the next two days as well as prices went to Rs.2,910 per gram on the 5th and then to Rs.2,899 per gram on the 6th.
- On the last day of the week i.e., the 7th gold prices stabilised as demand picked up lightly.
May 2017 - Week 2 (8th - 14th):
- When the second week began on 8th, gold rates had appraised to Rs.2,903 per gram as there was a slight increase in demand towards the weekend.
- Rates were the same on the 9th as well but fell to Rs.2,899 per gram on the 10th as demand again went down after that brief incline.
- Gold prices went down on the 11th to Rs.2,889 per gram as there was little to no demand for the precious metal in the local circles.
- However, there was just a teeny bit of increase in demand on the 12th as it went up to Rs.2,890 per gram.
- After that minor increase broke the fall, gold rates went up again on the 13th, albeit by Re.1, to reach Rs.2,891 per gram.
- As a fall in the US dollar saw prices increase everywhere, prices surged slightly in the local markets on the 14th.
- When the second week of May drew to a close, gold prices were still holding at Rs.2,891 per gram.
May 2017 - Week 3 (15th - 21st):
- Like in the previous week, gold prices opened on a negative note as prices had gone down to Rs.2,890 per gram.
- On the 15th, however, gold prices surged to Rs.2,894 per gram and then to Rs.2,910 per gram on 17th as demand in the city went for the first time in half a month.
- The 18th again saw gold prices surge, but this time by a rather significant margin as they increased by Rs.46 to end at Rs.2,956 per gram.
- A sudden increase on the 18th was followed by a drop on the 19th as gold prices went down to Rs.2,949 per gram.
- Prices went up again on the 19th as there was some increase in local demand to reach Rs.2,954 per gram and remained unchanged on the 21st as well.
May 2017 - Week 4 (22nd - 28th):
- Prices had fallen by Rs.7 when week 4 began as gold was seen trading at Rs.2,947 per gram on the 22nd.
- On the 23rd, gold prices rose significantly to Rs.2,979 per gram - a Rs.32 increase from the previous day.
- As the demand couldn’t be sustained on the 24th, prices went down to Rs.2,963 per gram and remained at the same rate on the 25th.
- Bullion rates dropped again on the 26th to go down to Rs.2,958 per gram before going back to Rs.2,979 per gram on the 27th.
- When the week came to an end, price of gold was holding at Rs.2,979 per gram.
May 2017 - Week 5 (29th - 31st):
- Gold rates fluctuated over the last three days of the month.
- On 29th, when trading began, gold was priced at Rs.2,977 per gram before increasing by Rs.7 to go up to Rs.2,984 per gram.
- Rates dropped by Rs.19 on the last day of the week to Rs.2,963 per gram as demand in the local market wasn’t strong enough.
- In Bhubaneswar, gold prices went down by 0.70% for the month of May.
|April 1st Rate||Rs.2,956 per gram|
|April 30th Rate||Rs.2,984 per gram|
|Highest Rate in April||Rs.3,040 per gram on 15th & 16th April|
|Lowest Rate in April||Rs.2,954 per gram from 8th-10th April|
April ’17- Week 1 (1st to 9th)
- The price of gold steadily appreciated during the first week of April as demand for the precious metal rose following a period of market instability.
- Gold traded at Rs.2,956 per gram on 1st April and rose to Rs.2,983 per gram on 5th April as markets took a beating due to falling investor sentiment following poor employment data.
- An increase in demand from industrial units also led to a spurt in the price of gold, as the U.S. Dollar slid against global currencies.
- Prices dipped as the week ended as local demand began to drop, with gold trading at Rs.2,954 per gram on 9th April.
April ’17- Week 2 (10th to 16th)
- Political turmoil led to markets dropping, which bolstered demand for gold in the second week of April.
- Gold traded at Rs.2,954 per gram on 10th April, with the price jumping to Rs.3,010 per gram on 12th April as industrial demand peaked due to a plummeting U.S. Dollar making exports cheaper.
- Prices continued to rise during the week as domestic demand also followed global trends, as gold traded at Rs.3,031 per gram on 14th April.
- Strong demand from Asia and rising demand from investors kept prices high as the week ended, with gold priced at Rs.3,040 per gram on 16th April.
April ’17- Week 3 (17th to 23rd)
- Prices began to stabilise as the third week began, with gold trading at Rs.3,034 per gram on 17th April as the U.S. Dollar recouped some of its losses.
- Industrial demand also began to normalise, which resulted in prices falling marginally due to a reduction in overseas demand.
- Local demand kept prices more or less constant as jewellers hoped for higher sales volumes on account of Akshaya Tritiya.
- Gold traded at Rs.3,020 per gram on 20th April but rose as the week ended to trade at Rs.3,035 per gram on 23rd April.
April ’17- Week 4 (24th to 30th)
- The last week of April saw prices fluctuate due to a decline in demand, as markets stabilised and investors moved out of safe haven investments.
- Gold traded at Rs.3,012 per gram on 24th April, with the price falling steadily throughout the week on poor industrial demand.
- Gold traded at Rs.2,964 per gram on 26th April, with European markets rising as French presidential runoff appeared to be won by an Euro-centric candidate.
- Prices rose marginally as the week progressed, with gold prices recorded at Rs.2,984 per gram on 30th April for an overall gain in price of 0.94%.
|March 1st Rate||Rs.2,990 per gram|
|March 31st Rate||Rs.2,940 per gram|
|Highest Rate in March||Rs.2,994 per gram on 2nd March|
|Lowest Rate in March||Rs.2,900 per gram on 15th of March|
March ‘17 - Week 1 (1st to 5th)
- Gold rate in Bhubaneswar was relatively low as compared to the rates noted in other cities of India. Gold opened at Rs.2,990 per gram on the first of March before increasing by Rs.4 the next day.
- Rate of gold on the 2nd of March was the highest at which gold traded at for the month of March in Bhubaneswar.
- Rate of gold in Bhubaneswar reduced on Rs.2973 per gram on the 3rd of March due to low demand for this precious metal from jewellers.
- As the week continued, the rate of gold continued to plunge and traded at Rs.2,972 per gram on the last two days of the week.
March ‘17 - Week 2 (6th to 12th)
- Rate of gold on the first day of the second week of March was lower than that of the previous week.
- Due to a rise in the rate of the U.S. Dollar, rate of gold plunged to a weekly low of Rs.2,949 per gram on the 7th of March before recovering the next day to trade at Rs.2,970 per gram.
- This recovery could not be sustained however, and the rate of gold fell again to trade at Rs.2,951 per gram on the 10th.
- Gold rate in Bhubaneswar fluctuated towards the end of the week to finally trade at Rs.2,945 per gram on the 11th and continuing on the 12th as well.
March ’17- Week 3 (13th to 19th)
- Rate in the third week of March was slightly higher than that of the previous week. On the 13th,gold traded at Rs.2,949 per gram.
- This price of gold in Bhubaneswar could not be sustained however and rate of gold fell to Rs.2,933 per gram on the 14th of March before plunging to a monthly low of Rs.2,900 per gram.
- There was a marginal improvement noted in the rate of gold as the week progressed.
- Price of gold in Bhubaneswar varied between Rs.2,928 and Rs.2,940 per gram between the 16th and 18th of March.
- On the last day of the third week of March, the rate of gold was Rs.2,940 per gram on account of low but steady demand for this precious metal.
March ’17- Weeks 4 (20th to 26th)
- This precious metal traded at Rs.2,947 per gram on the first day of the fourth week of March. There were a number of fluctuations noted in the rate of gold as the week progressed.
- A high demand for gold from domestic markets and positive market cues world over resulted in the rate of gold increasing to Rs.2,971 on the 22nd of March and continued to increase on the 23rd as well.
- However, this demand could not be sustained and the rate of gold steadily reduced thereafter.
- On the last day of the week, the rate of gold was Rs.2964 per gram.
March ’17- Weeks 5 (27th to 31st)
- The rate of gold was steady at Rs.2,977 per gram due to increased but stable demand for this precious metal from jewellers as well as markets in both India and abroad.
- However, this demand could not be sustained and fell to Rs.2,971 per gram on the 28th and 29th of March.
- As the week progressed the rate of gold continued to decline.
- A monthly decline of 1.67% was noted in the rate of gold during the month of March.
|February 1st Rate||Rs.2,965 per gram|
|February 28th Rate||Rs.3,003 per gram|
|Highest Rate in February||Rs.3,014 per gram on 25th & 26th February|
|Lowest Rate in February||Rs.2,944 per gram on 4th & 5th February|
February ‘17 - Week 1 (1st to 5th)
- The price of gold in Bhubaneshwar declined in the first week of February due to a decrease in industrial demand and stagnant local demand.
- Gold was priced at Rs.2,965 per gram on 1st February but prices fell to Rs.2,954 per gram on 2nd February as local demand fell drastically.
- While international demand was muted as investors waited for the outcome of the Fed Reserve meeting, domestic demand fell, resulting in gold trading at Rs.2,944 per gram on 4th February.
- Prices remained unchanged as the week ended, with gold trading at Rs.2,944 per gram on 5th February to record a loss of Rs.21 per gram for the week.
February ‘17 - Week 2 (6th to 12th)
- Gold prices rose in the second week, as market fluctuations led to increased demand for the metal.
- Gold was priced at Rs.2,955 per gram on 6th February, rising to Rs.2,980 per gram on 7th February as the U.S. Dollar plunged on news that a rate hike was not immediately forthcoming.
- Prices were more or less constant for the next few days, rising to Rs.2,964 per gram on 11th February as industrial demand rose.
- Gold ended the week trading at Rs.2,964 per gram on 12th February, recording a Rs.9 per gram increase in price over the week.
February ’17- Week 3 (13th to 19th)
- The third week of February saw the price of gold rise towards the middle of the week, as market fluctuations kept prices unstable.
- Gold traded at Rs.2,959 per gram on 13th February, with the price falling to Rs.2,947 per gram on 15th February due to a dip in demand from Asian markets.
- Prices recovered to trade at Rs.2,975 per gram on 16th February, rising further to trade at Rs.2,988 per gram on 17th February.
- Slight fluctuations in demand led to gold ending the week trading at Rs.2,980 per gram on 19th February, recording an increase of Rs.21 per gram during the week.
February ’17- Weeks 4 & 5 (20th to 28th)
- Prices fluctuated wildly in the last two weeks as demand was subject to market volatility.
- Gold was priced at Rs.2,976 per gram on 20th February, falling to Rs.2,973 per gram on 22nd February.
- A rise in domestic demand led to gold trading at Rs.2,995 per gram on 24th February.
- A sudden dip in the U.S. Dollar rate led to increased demand from the industrial sector, resulting in gold trading at Rs.3,014 per gram on 25th February.
- Prices fluctuated marginally as the month ended, resulting in gold trading at Rs.3,003 per gram on 28th February to record an overall increase in price of 1.28%.
|January 1st Rate||Rs.2,821 per gram|
|January 31st Rate||Rs.2,954 per gram|
|Highest Rate in January||Rs.2,976 per gram on 25th January|
|Lowest Rate in January||Rs.2,821 per gram on 1st January|
January 2017 - Week 1 (1st - 7th):
- Contrary to the last quarter of 2016, gold prices seemed to increase in January from the get go.
- On 1st, gold was seen trading at Rs.2,821 per gram, which happened to the lowest rate for the month.
- Prices increased by Rs.3 per gram on the 2nd to end the business day at Rs.2,824 per gram.
- Rates went up on 3rd as well to reach Rs.2,836 per gram and then to Rs.2,846 per gram on 4th.
- By the time, week 1 ended, gold prices in Bhubaneswar was holding at Rs.2,872 per gram, thanks to an increase in demand.
January 2017 - Week 2 (8th - 14th):
- Gold prices were still the same as 7th, when week 2 began on the 8th, which was Rs.2,872 per gram.
- The 9th saw prices increase by Rs.4 to trade at Rs.2,876 per gram.
- Barring a slight decrease on 13th, gold prices were largely on the incline thanks to growing demand in the country.
- Prices went from Rs.2,892 per gram on 10th to Rs.2,909 per gram on 11th, and ended the week at Rs.2,941 per gram.
January 2017 - Week 3 (15th-21st):
- Prices continued on their upward trend during week 3 despite some minor blips along the way.
- Gold was trading at Rs.2,941 per gram, which went up to Rs.2,954 on 16th and then to Rs,2,963 per gram on 17th.
- The 19th and 20th saw prices dip and go down to Rs.2,951 per gram as global demand went down for a brief period.
- On 21st, prices returned to normalcy as they went up to Rs.2,962 per gram.
January 2017 - Week 4 and 5 (22nd - 31st):
- The last two weeks of January 2017 saw gold prices fluctuate considerably.
- The first three days saw gold prices increase as week 4 started with gold trading at Rs.2,962 per gram which then went up to Rs.2,978 per gram.
- However, due to confusion over Donald Trump’s travel ban prices seemed to go down significantly over the next few days.
- Prices went from Rs.2,976 per gram on 24th to Rs.2,954 per gram on 31st.
- Overall, gold prices went up for the entire month at a rate of 4.71% for January.
Gold Investment Channels in Bhubaneswar
Gold jewellery is a popular way of exchanging gifts in Odisha, and Bhubaneswar isn’t the odd one out among the other cities. The state capital’s populace goes for gold coins and jewellery as the primary means for investing in gold. Investing is done by all sectors of the community through these channels -
Over-the-counter - Gold in retail has the primary share in jewellery and coins and a minimal percentage of investing happens through bullion trading. Royal Gold Bullion Marketing, MMTC are two primary registered private companies which deal with gold bullion. Banks also deal with gold bullion. The list of jewellers in Bhubaneswar is humongous. Some popular names which come out with great designs and making charges on gold jewellery are Khimji, Lalchand, Tanishq, Epari Sadashiv, Reliance Jewels, PC Chandra, Gitanjali Jewels and Kanchan among others.
Market trade - Through spot contracts, future contracts and exchange-traded funds, people invest in gold on the market. Kotak Securities, SBI Gold Fund, MMTC are some of the few options available in Bhubaneswar wherein people can hope to trade in gold. Spot contracts can be bought and delivered very quickly, and are quite volatile in nature. Future contracts are the same, just the delivery is deferred and thus, the risk of volatility is lessened. Gold ETFs are traded on the national and international stock exchanges. They are pivotal in tracking the price of gold.
- Also Check:Gold Rate in Odisha
Also Check Gold Price in NearBy Cities of Bhubaneswar
|Gold Rate In Cuttack||Gold Rate In Visakhapatnam||Gold Rate In Raipur|
|Gold Rate In Kolkata||Gold Rate In Jamshedpur||Gold Rate In Rajahmundry|
|Also Know: Silver Rate in Bhubaneswar|
Read more on Gold
- Auspicious Days To Buy Gold In 2018
- Historical gold rate trend in India
- Importance of Akshaya Tritiya in India
- Why Investing In Gold Is A Golden Opportunity
- How To Buy Gold Coins/Bars (Bullion) Online
- Where To Buy Gold In India
- Which One Should You Buy, Gold Coins Or Gold Bars
- What Do the Markings on Gold Mean?