*Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.
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 November 2016 (rates per gram for 24karat gold)
|1st Day||Rs.3,065 per gram|
|Last Day||Rs.2,942 per gram|
|Highest Price||Rs.3,166 per gram on 9th November|
|Lowest Price||Rs.2,914 per gram on 25th November|
November ‘16 – Week 1 (1st-6th)
- Gold traded at Rs.3,065 per gram on 1st November, with a slight increase in price the next day.
- On the 2nd of November, 2016, price of gold increased to Rs.3,101 per gram and rose further.
- There were minor variations in the rate of gold over the next few days.
- On the last day of the week, the price of gold was Rs.3,119 per gram, the same as it was during the previous day.
November ’16- Week 2 (7th-13th)
- The price of gold on the first day of week 2 was lower than the previous week’s price.
- Gold traded at Rs.3,095 per gram on 7th and decreased by Rs.20 on the 8th of November.
- A marginal increase was noted in the rate of this precious metal wherein gold traded at Rs.3,166 per gram. However, this increase was not sustained and rates declined again.
- On the last day of week 2, gold traded at Rs.3,059 per gram.
- The decline in prices could be attributed to Prime Minister Modi’s Demonetization announcement.
- Gold traded at its highest on the 9th of November, at Rs.3,166 per gram.
November ’16- Week 3 (14th-20th)
- On the first of day of the third week of November, the price of gold declined slightly to trade at Rs.3,054 per gram. This was a marginal decline as compared to the price that was noted on the last day of week 2.
- Minor variations were noted in gold rates throughout the week.
- On 18th, price of gold plunged to Rs.2,984 per gram.
- This low rate was sustained until the end of week 3.
November ’16- Week 4 (21st-27th)
- Low rate of gold continued until the 22nd after which a minor increase in gold prices was noted.
- There were very minor fluctuations noted during the week.
- On November 23rd, gold traded at Rs.3,001 per gram but fell again to Rs.2,945 per gram on 24th.
- The lowest rate of gold was noted on the 25th, which was Rs.2,914 per gram.
November ‘16 – Week 5 (28th-30th)
- Gold traded at Rs.2,951 per gram on 28th of November, after which prices declined further.
- On the 29th, gold traded at Rs. 2,946 per gram, which was the same as the previous day.
- Gold rate closed at Rs.2,942 per gram on the last day of the month which was a decline as compared to the beginning of the month.
- There was a decline of 4.01% in the rate of gold as compared to the beginning of the month.
|1st Day||Rs.3,152 per gram|
|Last Day||Rs.3,067 per gram|
|Highest Price||Rs.3,152 per gram on 1st and 2nd October|
|Lowest Price||Rs.3,021 per gram on 15th and 16th October|
October ‘16 – Week 1 and 2 (1st-9th)
- The price of gold in Bhubaneswar was Rs.3,152 per gram on 1st October as demand was high and markets were performing poorly.
- As the markers recovered, demand for gold fell, with prices dropping to Rs.3,025 per gram on 7th October.
- Speculation of a Fed rate hike led to markets strengthening, resulting in demand for gold falling.
- Gold was priced at Rs.3,026 per gram on 9th October, a decrease in price of Rs.126 per gram from the price at the beginning of the week.
October ’16- Week 3 (10th-16th)
- Gold prices rose as demand from jewellers increased, with gold trading at Rs.3,038 per gram on 10th October.
- The price fluctuated due to market instability, as industrial demand also increased marginally.
- A decline in price was seen as domestic demand dropped.
- Gold traded at Rs.3,021 per gram on 16th October, a decrease of Rs.17 per gram.
October ’16- Week 4 (17th-23rd)
- Gold traded at Rs.3,023 per gram on 17th October as demand was low.
- Prices rose during the week, with the international markets seeing greater trade volumes.
- The U.S. Dollar fell slightly as the chances of a Fed rate hike looked dim, leading to a spurt in demand for gold.
- The price of gold was Rs.3,046 per gram on 23rd October, an increase of Rs.23 per gram.
October ’16- Week 5 (24th-31st)
- Gold prices rose in the last week of October, trading at Rs.3,040 per gram on 24th October as demand slowly increased.
- A slump in markets brought about by the upcoming U.S. elections led to a surge in demand for gold.
- Prices rose throughout the week, with gold trading at Rs.3,067 per gram on 31st October, ending the month Rs.27 per gram higher than the price at the start of the week.
|1st Day||Rs.3,132 per gram|
|Last Day||Rs.3,169 per gram|
|Highest Price||Rs.3,195 on 8th September|
|Lowest Price||Rs.3,132 on 1st September|
September '16 – Week 1 (1st to 4th)
- Gold traded at Rs.3,132 per gram on the 1st of September.
- Investors became more interested in gold investment a the Fed rate hike was postponed for the time being owing to weak U.S. economic data.
- The festive season added to the stability in gold prices, this week.
- While gold recorded its lowest at Rs.3,132 per gram on 1st of September, it increased to Rs.3,150 per gram on 3rd and 4th September.
- Therefore, week 1 of September saw an overall increase in gold rates.
September '16 – Week 2 (5th to 11th)
- Gold closed at Rs.3,150 per gram on 5th of September.
- On 8th of September, gold reached its highest rate of the month at Rs.3,195 per gram.
- After reaching the peak, gold experienced a decrease by reaching at Rs.3,181 per gram on 10th and 11th of the month.
September '16 – Week 3 (12th to 18th)
- Week 3 experienced a continuous fall in gold prices. The rates are expected to remain volatile in the coming months.
- On 12th September, gold was recorded at Rs.3,171 per gram and closed at Rs.3,146 per gram on 18th September.
- Among the domestic and overseas traders, gold lost its appeal as a safe investment haven.
- Demand for gold from jewellers, stockists, retailers, and consumers remained dull in the domestic market.
September '16 – Week 4 (19th to 25th)
- While the U.S. Federal Reserve set aside plans for a rate hike owing to presidential elections coming near, gold prices saw a return in hike.
- The overseas gold market showed positivity, while bullish tendencies were on the rise.
- On 19th September, gold traded at Rs.3,160 per gram and climbed Rs.3,186 gram on 24th and 25th of September.
- Gold rates improved owing to positive trend overseas with increased domestic demand.
- Stability in gold prices were also achieved owing to the festive fervour.
September '16 - Week 5 (26th to 30th)
- On 26th September, gold traded at Rs.3,185 per gram.
- As sentiments in the global market turned bearish, gold rates experienced a downfall.
- Dollar gained strength as a result of the U.S. presidential elections.
- Gold traded at Rs.3,180 per gram and dropped to Rs.3,155 per gram on 28th September.
- Despite a fall in gold rates this week, overall month of September recorded an incline of 1.18%.
|First Day||Rs.3,215 per gram|
|Last Day||Rs.3,148 per gram|
|Highest Price||Rs.3,224 per gram on 3rd August|
|Lowest Price||Rs.3,148 per gram on 31st August|
August '16 - Weeks 1 (1st to 7th)
- Gold prices in the first week of August were high.
- Gold traded at Rs.3,215 per gram on 1st August.
- Prices climbed to the highest for the month on 3rd August trading at Rs.3,224 per gram.
- The inclination in gold prices can be attributed to a weak dollar on account of sluggish U.S. economic growth data.
August '16 - Week 2 (8th to 14th)
- With the dollar sliding down, investors were confident that a Fed rate hike would not take place any time soon.
- Gold traded at Rs.3,168 per gram on 8th August.
- As investors in the global market and jewellers in the domestic market flocked to buy gold, prices surged.
- The week closed at Rs.3,181 per gram on 14th August.
August '16 - Week 3 (15th to 21st)
- Gold traded at Rs.3,181 per gram on 15th August and started increasing as the week progressed.
- As the auspicious festivals of India approaches, coin makers and jewellers have increased their intake as they prepare to meet the increased demand in the near future.
- Gold touched its highest recorded price for the month on 18th August at Rs.3,207 per gram.
- Prices started to drop as the U.S. economic data indicated that the economy was strong enough to handle a Fed rate hike.
August '16 - Week 4 (22nd to 28th)
- Gold prices started to decline as the prospects of a Fed rate hike kicked off again.
- Gold traded at Rs.3,182 per gram on 22nd August.
- With the dollar firming up, gold rates slipped further.
- Gold shed Rs. 18 by the week and traded at Rs.3,164 per gram on 28th August.
August '16 - Week 5 (29th to 31st)
- U.S. policymakers pushed for the interest rate hike and stated that further delays could lead to other economic risks.
- Gold was seen trading at low rates of Rs.3,153 per gram on 29th August.
- By 31st August, the price had fallen to the lowest for this month, trading at Rs.3,148 per gram.
- A slump in domestic demand didn’t help, however demand is expected to pick up with the festival time approaching.
|1st July rate||Rs.3,127.50|
|31st July rate||Rs.3,214.00|
|Highest rate in July||Rs.3,214.00 on 30th and 31st|
|Lowest rate in July||Rs.3,115.50 on 21st|
|% Change||+ 2.76%|
July'16 - Week 1 (1st to 3rd)
- The month of July started with a slight decline in prices.
- Gold traded at Rs.3,127.50 on 1st July and dropped to Rs.3,124.50 till the end of the week.
- The decline can be attributed to the negative air that loomed over the global market owing to the Brexit vote.
July'16 - Week 2 (4th to 10th)
- Gold rates fluctuated but showed an overall increasing trend for week 2 owing to the safe-haven appeal of the investment.
- Gold traded at Rs.3,136 on 4th July and closed the week at Rs.3,162.50.
- It touched the highest rate on July 7th at Rs.3,179 on the back of investors’ expectations of monetary stimulus from the central banks in the wake of the Brexit vote.
- Gold dropped again as the U.S. released surprisingly positive non-farm job data. But domestic demand helped gold maintain its stability.
July'16 - Week 3 (11th to 17th)
- Gold opened week 3 trading at Rs.3,171.50 per gram on 11th July. This was the highest rate recorded for the week.
- Rates dropped through the week and closed at Rs.3,146 on 17th July.
- Decreased demnad in the domestic market as well as international cues led to a drop in prices.
- Gold recovered slightly towards the end of the week closing at Rs.3,146 per gram.
July '16 - Week 4 (18th to 24th)
- The week opened low at Rs.3,140.50 per gram on 18th July.
- Week 4 saw a few fluctuations with the highest for the week at Rs.3,147.50 per gram.
- As the dollar recovered, prices of gold slipped and closed the week at Rs.3,130 per gram.
July ‘16 - Week 5 (25th to 31st)
- Gold traded at Rs.3,120 on 25th July and then jumped up through the week.
- The week ended at its highest at Rs.3,214 per gram. Domestic demand helped rates remain steady.
- In the international market, the U.S. released unexpected strong economic data. The anticipation of an interest rate hike by the U.S. Federal Reserve sprouted.
|1st June rate||Rs.2,918|
|30th June rate||Rs.3,013|
|Highest rate in June||Rs.3,110 per gram on 16th June|
|Lowest rate in June||Rs.2,911 per gram on 3rd June|
Jun'16 - Week 1 (1st to 4th)
- Gold opened at Rs.2,918 per gram at the beginning of the week.
- There were minor fluctuations in the rate of gold throughout the week but did not cross Rs.3,000.
- There was a decrease noted in the price of gold on the 3rd at Rs.2,911 per gram which was also the lowest for the month.
Jun'16 - Week 2 (5th to 11th)
- The rate of gold in the second week fluctuated slightly but stayed in the same range.
- On the 5th, gold was priced at Rs.2,974 per gram but decreased by Rs.4 the next day.
- Price of gold decreased even further the next day to Rs.2,958 per gram on the 7th but saw a slight increase from there to touch Rs.2,973 on the 8th.
- The price of gold crossed Rs.3,001 on the 9th and stayed within that range for the rest of the month.
- On the last day of the week, gold was priced at Rs.3,039 per gram.
Jun'16 - Week 3 (12th to 18th)
- Continuing from the rate of the previous week, the rate of gold was Rs.3,039 per gram and increased thereon.
- On the 13th, gold was priced at Rs.3,042 per gram which was an increase of Rs.3 as compared to the previous day.
- The price of gold increased significantly on the 16th to be priced at Rs.3,110 per gram but plummeted from there.
- Although the rate of gold picked up slightly on the 18th, it did not reach the rate of 16th.
Jun'16 - Week 4 (19th to 25th)
- The rate of gold on the 19th was the same as the last day of the previous week, Rs.3,087 per gram.
- Gold rate declined slightly on the 20th and 21st to touch Rs.3,070 per gram.
- Further decline in price was noted from the 22nd to the 23rd before picking up again.
- The rate of gold significantly increased after that to touch Rs.3,165 per gram on the 25th which was also the highest for the week.
Jun'16 - Week 5 (26th to 30th)
- The final week of June saw the highest rate of gold for the month which was Rs.3,180 per gram on the 27th.
- Gold rate slightly decreased after that to hover between Rs.3,113 to Rs.3,103 per gram between the 28th to 30th of June.
- Gold closed at Rs.3,103 per gram on the last day of the month.
|1st May rate||Rs.3,069|
|31st May rate||Rs.2,916|
|Highest rate in May||Rs.3,073 on the 7th and 8th of May|
|Lowest rate in May||Rs.2,900 on the 30th of May|
|Overall performance||Loss / Negative|
May'16 - Week 1 (1st to 7th)
- Gold rates declined steadily during the first week of May, except for the last day when they increased.
- Prices were recorded at Rs.3,069 on the 1st day of the month and Rs.3,073 on the 7th.
- Gold rates declined by Re.1 on the second day of trading and remained unchanged until the third day after which they fell by Rs.20 to Rs.3,048 on the fourth day and remained the same on the fifth.
- A decline of Rs.3 was recorded in prices on the sixth of the month, followed by an increase of Rs.28 on the last day of the week to close at Rs.3,073.
May ‘16 - Week 2 (8th to 14th)
- Gold rates remained unchanged on the first day of the second week and prices were recorded at Rs.3,073 on the 8th of May.
- A decline by Rs.21 on the second day of the week saw prices fall to Rs.3,052.
- Prices fell by Rs.30 on the third day of the week to close at Rs.3,022 and then increased by Rs.18 on the fourth day before fluctuating for the following three days to close the week at Rs.3,051.
- The overall decline in prices from the first day to the last day of the week was just Rs.22.
May ‘16 - Week 3 (15th to 21st)
- Gold prices remained unchanged on the first and second day of the third week of May at Rs.3,051.
- Prices then increased by Rs.2 to Rs.3,053 on the 17th after which a decline of Rs.5 on the 18th saw prices fall to Rs.3,048.
- Rates fell by Rs.24 on the 19th and settled at Rs.3,024.
- Prices were recorded at Rs.3,018 on the 20th after which a decline of Rs.3 was recorded on the 21st and prices stood at Rs.3,015.
- Gold prices declined further at the end of the week in comparison with the first day of the week.
May ‘16 - Week 4 (22nd to 31st)
- Gold prices were recorded at Rs.3,015 on the 22nd of May and consistent declines over the course of the month saw prices drop to Rs.2,900 on the 30th, which was the lowest recorded price in the month.
- A marginal increase of Rs.16 on the last day of May saw prices rise to the levels before they hit their lowest, but the decline in prices over the last ten days of the month made it the worst period in May for jewellers and traders alike.
- The overall decline in prices between the first and last day of the month was Rs.153.
|1st April rate||Rs 2,894|
|30th April rate||Rs 3,069|
|Highest rate in April||Rs 3,069 on 30th|
|Lowest rate in April||Rs 2,876 on 4th|
|% Change||+ 6.05%|
Apr ‘16 - Week 1 (1st to 3rd)
- International trends resulted in a lack of demand from investors, stagnating gold rates.
- An overall drop in prices was witnessed during the week.
- Gold traded at Rs 2,894 on 1st, dropping to Rs 2,877 on 2nd and ending the week at this mark.
Apr ‘16 - Week 2 (4th to 10th)
- An overall increase in rates was witnessed during this week.
- Gold traded at Rs 2,876 on 4th, picking up marginally on a daily basis.
- Weekly rates peaked at Rs 2,944, an increase of over Rs 60 since the week started.
Apr ‘16 - Week 3 (11th to 17th)
- The strong performance of gold continued into the first two days of week 3.
- Prices went up from Rs 2,944 on 10th to Rs 2,963 on 12th.
- Gold rates fluctuated post this good start, dropping to a low of Rs 2,934 on 14th.
- The week ended on a high, with gold trading at Rs 2,957.
Apr ‘16 - Week 4 (18th to 24th)
- Demand for gold increased on the back of a solid performance.
- An overall increase in rates was observed in the week.
- An initial drop on 19th was mitigated by market demand, which saw prices reach a high of Rs 2,982 on 22nd.
- Gold rates declined marginally on the last two days, ending the week at Rs 2,960.
Apr ‘16 - Week 5 (25th to 30th)
- This was the best week for gold in April, as prices increased on a daily basis.
- Gold traded at Rs 2,965 on 25th, reaching Rs 2,979 on 28th.
- Gold rates crossed the Rs 3,000 mark on 29th, trading at Rs 3,042.
- The month ended with gold trading at Rs 3,069, the highest in April.
|1st March rate||Rs 2,994|
|31st March rate||Rs 2,883|
|Highest rate in March||Rs 2,994 on 1st|
|Lowest rate in March||Rs 2,871 on 28th|
Mar'16 - Week 1 (1st to 6th)
- March started with gold rates in the city at Rs 2,994.
- Jewellers resorted to a protest against the decision to hike import duty on gold, which lead to markets staying inactive.
- Gold rates fell to Rs 2,991 and Rs 2,976 during the week.
- An overall depreciation in prices was witnessed.
Mar'16 - Week 2 (7th to 13th)
- Protests against the duties continued in the second week, as markets remained closed.
- Prices increased marginally on 7th, with rates touching Rs 2,980.
- A further increase in rates was witnessed on 8th, as prices went up to Rs 2,991.
- Gold rates remained constant at Rs 2,991 for the rest of the week.
Mar'16 - Week 3 (14th to 20th)
- While the intensity of protests declined, markets were partially active.
- Gold rates dipped to Rs 2,950 on 14th, further dropping to Rs 2,929 in the next few days.
- Prices picked up to Rs 2,964 on 18th before dropping to Rs 2,940.
- Rates stayed at Rs 2,940 till the end of the week.
Mar'16 - Week 4 (21st to 27th)
- Most jewellers were open to business as the protest started fizzling out.
- An overall decline was witnessed in the week.
- Gold rates fell from Rs 2,940 to Rs 2,896 during this period.
Mar'16 - Week 5 (28th to 31st)
- Gold trading resumed after a month of protests.
- Rates fell to Rs 2,871 on 28th, before picking up.
- Gold price crossed the Rs 2,900 mark on 30th, ending at Rs 2,906.
- A slight decline in rates was witnessed on 31st, as the month ended with gold at Rs 2,883.
|1st February rate||Rs.2,714|
|29th February rate||Rs.2,964|
|Highest rate in February||Rs.2,987 on 26th|
|Lowest rate in February||Rs.2,714 on 1st|
Feb '16 - Week 1 (1st to 7th)
- Gold rates appreciated at the start of February.
- Prices were Rs.2,714 on 1st and Rs.2,823 on 7th.
- God was up on all days, gaining a cumulative amount of Rs.109 over the week.
Feb '16 - Week 2 (8th to 14th)
- Gold rose in the 2nd week also.
- Prices were Rs.2,820 on 8th and Rs.2,934 on 14th.
- Gold prices settled at Rs.2,838 by 11th before rising significantly on 12th to Rs.2,973.
- Gold settled at Rs.2,934 on 14th, rising by Rs.114 over the week.
Feb '16 - Week 3 (15th to 21st)
- Gold prices were up again in the 3rd week.
- It was priced at Rs.2,906 on 15th and Rs.2,973 on 21st.
- Gold dropped to Rs.2,871 on 16th before rising back-to-back in the remaining days of the week to end at a high of Rs.2,973.
Feb '16 - Week 4 (22nd to 29th)
- Gold rates appreciated in the last week of February, completing a positive run for the month.
- It was priced at Rs.2,917 on 22nd and Rs.2,964 on 29th.
- Gold traded positively till 26th to touch a high of Rs.2,987 before settling at Rs.2,974 by 29th.
|4 th January rate||Rs.2,547|
|31 st January rate||Rs.2,710|
|Highest rate in January||Rs.2,727 on 28th|
|Lowest rate in January||Rs.2,547 on 4th|
- Gold rates appreciated in the 1st week of January.
- Prices were Rs.2,547 on 4th and Rs.2,635 on 10th.
- Gold appreciated steadily till 7th to touch Rs.2,637.
- Prices dropped marginally to Rs.2,633 on 8th before settling at Rs.2,635 on 9th and 10th.
- Gold prices were up again in the 2nd week.
- Prices were Rs.2,642 on 11th and Rs.2,654 on 17th.
- Gold prices fell to Rs.2,595 by 13th before rallying over the next 3 days to touch Rs.2,654 on 16th.
- Prices were stable at Rs.2,654 on 17th.
- Gold prices were marginally up in the 3rd week.
- It was priced at Rs.2,649 on 18th and Rs.2,660 on 24th.
- Gold rose to Rs.2,670 by 22nd before settling at Rs.2,660 on 23rd and 24th.
- Gold rates appreciated in the last week of January, completing a positive run for the month.
- It was priced at Rs.2,668 on 25th and Rs.2,710 on 31st.
- Gold rose to Rs.2,727 by 28th on the back of increased domestic demand and a weaker dollar.
- Prices dropped to Rs.2,706 on 29th before stabilizing at Rs.2,710 for the month.
|1st December rate||Rs.2,566|
|31st December rate||Rs.2,541|
|Highest rate in December||Rs.2,598 on 5th and 6th|
|Lowest rate in December||Rs.2,526 on 3rd|
- Gold rates depreciated in the 1st week of the month.
- Prices were Rs.2,566 on 1st and Rs.2,595 on 7th.
- Gold depreciated to Rs.2,526 by 3rd before gaining value till 6th to Rs.2,598.
- Prices were slightly down on 7th at Rs.2,593.
- Gold prices rose again in the 2nd week.
- Prices were Rs.2,572 on 8th and Rs.2,586 on 14th.
- Prices dropped to Rs.2,557 by 11th before rallying by Rs.36 on 12th to rest at Rs.2,593.
- Gold lost Rs.7 on 14th to end the week at Rs.2,486.
- Gold prices were marginally lower in the 3rd week.
- It was priced at Rs.2,558 on 15th and Rs.2,553 on 21st.
- Gold lost value on 15th, 16th and 17th to rest at Rs.2,527.
- Prices were up for the rest of the week as gold gained Rs.26 over the next 4 days.
- Gold rates dropped in the final weeks of December.
- It was priced at Rs.2,570 on 22nd and Rs.2,541 on 31st.
- Gold was stable in the range of Rs.2,553 to Rs.2,570 till 30th.
- Prices dropped on 31st to Rs.2,541 from Rs.2,559.
|1st November rate||Rs.2,676|
|Highest rate in November||Rs.2,683 on 2nd|
|Lowest rate in November||Rs.2,548 on 18th and 30th|
- Gold rates depreciated in the 1st week of the month.
- Prices were Rs.2,676 on 1st and Rs.2,608 on 7th.
- Gold rose to Rs.2,683 on 2nd before dropping continuously till 5th to Rs.2,625.
- Prices rose marginally on 6th to Rs.2,627 before falling to Rs.2,608 in 8th.
- Gold prices dropped again in the 2nd week.
- Prices were Rs.2,608 on 8th and Rs.2,582 on 14th.
- Gold rose to Rs.2,624 on 9th before dropping for the rest of the week to settle at Rs.2,582 by 14th.
- Gold prices dropped marginally in the 3rd week.
- It was priced at Rs.2,582 on 15th and Rs.2,571 on 21st.
- Gold rose to Rs.2,609 on 16th before falling to Rs.2,548 by 18th.
- Prices appreciated over the next 2 days to settle at Rs.2,578 by 20th.
- Gold dropped slightly to Rs.2,570 on 21st.
- Gold rates dropped in the final weeks of November.
- It was priced at Rs.2,571 on 22nd and Rs.2,548 on 30th.
- Prices hovered around Rs.2,560 and Rs.2,570 till 27th.
- Gold dropped to Rs.2,554 on 28th and to Rs.2,548 on 30th.
Details of Gold Price in Bhubaneswar (22 Karat & 24 Karat) - Till July 2015
22 Karat (10 grams) - This is the lower purity level of the precious metal that’s available in the market. Compared to an earlier rate of Rs. 23,790 just a week back, the price for 10 grams of gold as of now has come down to Rs. 23,670. Gold price has been steadily decreasing, amounting to almost Rs. 1200 reduction from the prices in July 2015. 2015 has been a mix bag, with prices stabilising during January-February 2015 and then encountering a sharp decline in March 2015. Continuing the trend from July onwards, August 2015 might possibly be the lowest month for gold rates.
24 Karat (10 grams) - This is the purest form of gold that goes into jewellery, bars, coins and the like. Compared to its younger sibling, 24 Karat gold has decreased by Rs. 40 more since the past week. The price for 24K gold as of now is Rs. Rs. 25,270 while a week back, for 10 grams it was Rs. 25,430. Judging by these points, 24 Karat gold rate has been dealt a heavier blow than its 22 Karat counterpart. As of now, August 2015 seems to be not so august for gold rates.
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
- 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?
News About Gold Rate In Bhubaneswar
Poor gold sales in Odisha despite Dhanteras
In spite of the dip in gold rates, the yellow metal’s sale on Dhanteras in Bhubaneswar, Odisha’s capital recorded low. Jewellers in the capital city witnessed low footfall on the day considered auspicious for gold-buying in India.
The price of 10 gm gold of 22 carat was around Rs 25,540 this year, in comparison to Rs 27,925 on Dhanteras in last year. Similarly, the price was for 24 carat gold was Rs 26,240 per 10 gram.
Around Rs. 75 crore worth of precious metals was consumed in Bhubaneswar on Dhanteras. Approximately two quintals of gold was sold in the city on Monday, November 09, 2015. Around 10 to 12 tonnes of gold was imported by Odisha market for the occasion.
12th November 2015
- For more related news /update on gold price visit: Gold News