Gold Rate in Chandigarh

Chandigarh serves as the capital of two states, Punjab and Haryana. The gold rate in Chandigarh is determined by various factors such as the supply and demand for the metal, the global economic condition, etc. Mainly purchased for ornamental usage, the metal also has a market for investment purposes. Read on for more details on gold prices in Chandigarh.
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  • Today's Gold Rate in Chandigarh ( 23 Jan 2020 )
    ₹ 3,885
    Today's Gold Rate (22K) per gram
    Compare Gold Rate In Chandigarh (Today & Yesterday)
    Today
    (23 Jan 2020)
    Yesterday
    (22 Jan 2020)
    Rate Change
    Standard Gold (22 K) ( 1 gram ) ₹ 3,885 ₹ 3,920 ₹ -35 ↓
    Standard Gold (22 K) ( 8 grams ) ₹ 31,080 ₹ 31,360 ₹ -280 ↓
    Pure Gold (24 K) ( 1 gram ) ₹ 4,079 ₹ 4,116 ₹ -37 ↓
    Pure Gold (24 K) ( 8 grams ) ₹ 32,632 ₹ 32,928 ₹ -296 ↓
    Daily Gold Rates
    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    23 Jan 2020 ₹ 3,885 ₹ 31,080 ₹ 4,079 ₹ 32,632
    22 Jan 2020 ₹ 3,920 ₹ 31,360 ₹ 4,116 ₹ 32,928
    21 Jan 2020 ₹ 3,900 ₹ 31,200 ₹ 4,095 ₹ 32,760
    20 Jan 2020 ₹ 3,880 ₹ 31,040 ₹ 4,074 ₹ 32,592
    19 Jan 2020 ₹ 3,880 ₹ 31,040 ₹ 4,074 ₹ 32,592
    18 Jan 2020 ₹ 3,880 ₹ 31,040 ₹ 4,074 ₹ 32,592
    17 Jan 2020 ₹ 3,880 ₹ 31,040 ₹ 4,074 ₹ 32,592
    16 Jan 2020 ₹ 3,880 ₹ 31,040 ₹ 4,074 ₹ 32,592
    15 Jan 2020 ₹ 3,845 ₹ 30,760 ₹ 4,037 ₹ 32,296
    14 Jan 2020 ₹ 3,880 ₹ 31,040 ₹ 4,074 ₹ 32,592

    Weekly & Monthly Graph of Gold Rate in Chandigarh

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    *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 Price in Chandigarh

    People in Chandigarh prefer buying gold for any occasion and also as a part of investment. Gold is bought mainly as an ornament and also as a safety net for their future. Gold also doesn’t have a depreciating value, making it a very safe investment. Investing in gold is worth it as it is a hedge against inflation.

    Gold rates are constantly changing in Chandigarh. You can avail the updated gold rate directly from the dealers of Chandigarh or through the various financial websites. Gold can be used as an asset to get loans from the banks as well. The changing gold rate information will be provided to you by the Gold Dealers in Chandigarh.

    Trend of Gold Rate in Chandigarh for January 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    January 1 Rate Rs.3,995 per gram
    January 19 Rate Rs.4,074 per gram
    Highest Rate in January Rs.4,211 per gram on 9 January
    Lowest Rate in January Rs.3,995 per gram on 1 January
    Overall Performance Decline

    January 2019- Week 1 (01 - 05):

    • The price of gold opened the month of January at Rs.3,995 per gram in Chandigarh. The metal saw a sharp incline in prices through the first week of the month due to various global factors which also included geopolitical tensions between Iran and the United States of America.
    • On 2 January, gold prices crossed the Rs.4,000 per gram mark and was Rs.4,011 per gram in the city. This was majorly due to the rise in the value of the rupee due to a fall in the value of the dollar in global markets. The value of the metal further increased to Rs.4,069 per gram on 4 January.
    • Gold prices increased further on 5 January to Rs.4,111 per gram as President Trump’s response to the drone attacks did not fare well with Iran as the latter promised retaliation. Due to this, the investors shifted back to the bullion as a safe haven asset.

    January 2019- Week 2(06 - 12):

    • The price of gold opened the second week of the month at Rs.4,111 per gram in Chandigarh. The metal saw fluctuations in the prices through the week with the ongoing tensions between Iran and the United States of America. The metal was priced at Rs.4,179 per gram on 7 January.
    • On 8 January, gold prices dipped to Rs.4,121 per gram as investors awaited on updates on what will be President Trump’s response on the attacks by Iran. Amidst the tensions and the speculation in the market, gold prices hit its highest value in the week at Rs.4,211 per gram on 9 January.
    • However, as President Trump decided not to retaliate against Iran, the price of the metal decreased in the market. Investors showed an increased risk appetite and the value of the metal fell to Rs.4,106 per gram on 10 January and remained stagnant until 11 January. Gold prices finally closed the week at Rs.4,905 per gram.

    January 2019- Week 3(13 - 19):

    • In Chandigarh, the price of the metal opened the third week of January at Rs.4,095 per gram. The week saw gold prices fluctuating in the second half due to a rise in tensions in the Middle East. On 14 January, the price of the metal dipped to RS.4,074 per gram as investors awaited the signing of the trade deal between China and the United States of America.
    • On 15 January, as the trade deal was signed, traders with a higher risk appetite shifted their investments to the stock market. This resulted in gold prices hitting the lowest price of the week at Rs.4,037 per gram. The price of the metal bounced back on 16 January at Rs.4,074 per gram as speculation rose amongst investors on the unresolved issues in the trade deal.
    • Gold prices remained firm in the latter half of the week due to rising tensions in the Middle East. With drone strikes killing more than 100 soldiers in Yemen, the safe-haven appeal of the metal increased. The price of the yellow metal closed the week at Rs.4,074 per gram.

    Trend of Gold Rate in Chandigarh for December 2019 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    December 1 Rate Rs.3,906 per gram
    December 29 Rate Rs.3,901 per gram
    Highest Rate in December Rs.3,927 per gram on 5 December
    Lowest Rate in December Rs.3,848 per gram on 14 December
    Overall Performance Decline

    December 2019- Week 1 (1 – 8):

    • The price of gold opened the first week of December at Rs.3,906 per gram. Compared to the previous week’s closing price, the rates saw an increase of Rs.37 per gram.
    • After witnessing a drop in the prices for the first few days of the week, gold prices climbed to Rs.3,927 per gram on December 5 as the US president stated that talks regarding the trade deal with China was moving along.
    • Gold closed the week at Rs.3,875 per gram. This was the lowest recorded price of the yellow metal in Chandigarh over the week.

    December 2019- Week 2 (9 - 15):

    • Gold price in Chandigarh stood at Rs.3,895 per gram at the start of the second week of December. There was no change in the price when compared to the previous week’s closing price.
    • With investors adopting to await clarity on the next round of US tariffs on Chinese imports as well as the US Federal Reserve’s monetary policy statement, the price of the yellow metal slipped to the lowest recorded price for the month on December 14 with every gram costing Rs.3,848.
    • The rates saw a slight increase on the final day of the week as the safe-haven appeal of gold was boosted. Gold closed the week at Rs.3,885 per gram with the overall performance trending downwards.

    December 2019- Week 3 (16 – 22):

    • Gold price in Chandigarh stood at Rs.3,885 per gram at the start of the second week of December. The price of gold increased through the week due to various geopolitical factors playing a role around the world.
    • As investors awaited clarity on the trade deal between the United States of America and China, gold prices were holding steady with a marginal increase and decrease in its prices. By 20 December, the price of the metal had increased to Rs.3,890 per gram.
    • With the impeachment of United States President, Donald Trump, investors shifted to the bullion from the stock market. The price of the metal increased to Rs.3,896 per gram on 21 December and closed the week at an increased price of Rs.3,901 per gram.

    December 2019- Week 4 (23 - 29):

    • Gold price in Chandigarh stood at Rs.3,885 per gram at the start of the second week of December. The price of gold increased through the week due to various geopolitical factors playing a role around the world.
    • As investors awaited clarity on the trade deal between the United States of America and China, gold prices were holding steady with a marginal increase and decrease in its prices. By 20 December, the price of the metal had increased to Rs.3,890 per gram.
    • With the impeachment of United States President, Donald Trump, investors shifted to the bullion from the stock market. The price of the metal increased to Rs.3,896 per gram on 21 December and closed the week at an increased price of Rs.3,901 per gram.

    Trend of Gold Rate in Chandigarh for November 2019 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    November 1 Rate Rs.3,938 per gram
    November 30 Rate Rs.3,869 per gram
    Highest Rate in November Rs.3,974 per gram on 3 and 4 November
    Lowest Rate in November Rs.3,869 per gram on 29 and 30 November
    Overall Performance Decline

    November 2019- Week 1 (01-03):

    • Gold prices in Chandigarh saw an upward trend in the first week of November. Opening at Rs.3,938 per gram, the prices remained steady due to stagnant local demand and fading hopes in the trade talks between the United States of American and China.
    • The price of the metal remained steady on 2 November, at Rs.3,938 per gram due to ready local demand and fluctuating global trend.
    • On 3 November however, the price of the precious metal increased marginally to Rs.3,974 per gram due to a decrease in the value of the United States dollar and speculation over the trade talks.

    November 2019- Week 2 (04-08):

    • As the markets recovered with positive cues from the trade talks between China and the United States of America, gold prices declined in the second week of the month. Opening at Rs.3,974 per gram, gold prices decreased to Rs.3,969 per gram by 5 November.
    • On 6 November, the price of gold decreased further as the risk appetite of investors increased due to the positive cues from the trade talks and the boost in the dollar. Gold was priced at Rs.3,964 per gram.
    • Gold prices nearly hit the monthly low on 7 November at Rs.3,922 per gram and were steady on 8 November as well, as both China and the United States of America make to a mutual agreement on the tariff rollbacks.

    November 2019- Week 3 (09-17):

    • Gold prices witnessed a fluctuating trend in Chandigarh over the third week of November. The prices opened the week at Rs.3,896 per gram.
    • Due to positive developments regarding the trade talks between Washington and Beijing saw the rates drop in the following days.
    • The rates of the yellow metal slid to a 3-month low on 12 November after witnessing an upbeat risk appetite from investors in the hope of positive trade talks. Every gram of gold cost Rs.3,885 on 12 November.
    • However, with investors shifting to the bullion as a safe-haven asset the prices recovered slightly before closing the week at Rs.3,906 per gram.

    November 2019- Week 4 (18 - 24):

    • The price of gold fluctuated throughout the fourth week of the month in Chandigarh over the month. Opening the week at Rs.3,906 per gram, gold prices dipped slightly on 19 November to Rs.3,896 per gram as Huawei was given a temporary reprieve from the U.S. which resulted in positive cues regarding the trade deal.
    • However, the metal recovered in the following days to Rs.3,922 per gram as the ongoing impeachment inquiry on the President of the United States dented the trade deal optimism and lowered risk appetite.
    • The rates of the yellow metal slid marginally on 21 November after witnessing an upbeat risk appetite from investors in the hope of positive trade talks. The price of the metal was Rs.3,917 per gram on 21 November and 22 November. The metal closed at a price of Rs.3,901 per gram.

    November 2019- Week 5 (25 - 30):

    • The prices of gold fluctuated throughout the fifth week of November in Chandigarh. The rates opened the week at Rs.3,901 per gram.
    • The dip in the prices of the yellow metal was accounted to traders deciding to wait for further developments regarding the trade deal between the United States and China.
    • With neither country providing clear indication about the trade deal, the rates closed the final week of November at Rs.3,869 per gram. Gold’s overall performance in the union territory was trending downwards.

    Trend of Gold Rate in Chandigarh for October 2019 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    Rate on 1st October Rs.3,864 per gram
    Rate on 31st October Rs.3,927 per gram
    Highest Rate in October Rs.3,953 per gram on 28 and 29 October
    Lowest Rate in October Rs.3,801 per gram on 2 October
    Overall Performance Incline

    October 2019- Week 1 (1-6):

    • Demand for gold was weak as the month began with the metal trading at Rs.3,864 per gram but picked up due to economic uncertainty and increased retail offtake.
    • Gold prices in Chandigarh fell briefly to Rs.3,801 per gram on 2 October but rebounded after equity markets dropped on news of fresh U.S. tariffs on EU goods.
    • Prices continued to climb as investors switched to safe-haven bullion over riskier equities, as gold rose to Rs.3,901 per gram on 4 October and ended the week at Rs.3,911 per gram on 6 October.

    October 2019- Week 2 (7-13):

    • Due to decreased local and overseas demand, the price of gold at the beginning of October in Chandigarh was Rs.3,864 per gram however, the price gradually increased due to a rise in retail offtake.
    • In the second week of the month, the precious metal hit its weekly high on 10 and 11 October at Rs.3,932 per gram due to the uncertainty of trade talks between the U.S. and China.
    • However, due to the renewed optimism of trade talks and Brexit fears, investors shifted back to the stock market resulting in gold closing the week at Rs.3,906 per gram.

    October 2019- Week 3 (14-20):

    • Being steady and opening the third week of October at Rs.3,906 per gram, gold prices in Chandigarh remained the same on 15 October as well due to stagnant local demand and Brexit fears.
    • However, the price of the metal on 16 October hit its weekly high at Rs.3,938 per gram and continued to hold till 18 October as trade war, Brexit fears and global growth concerns resulted in investors shifting to the bullion as safe haven.
    • On 19 October, the price of the metal decreased marginally as the U.S. dollar upped its value in the market. Due to this, gold prices decreased to Rs.3,932 per gram and closed the week at the same price.

    October 2019- Week 4 (21-27):

    • The price of gold in Chandigarh opened week four of October at Rs.3,932 per gram on 21 October and decreased marginally to Rs.3,927 per gram as investors eyed the ongoing trade talks. However, due to the increased focus on Brexit, the price of the metal decreased further to Rs.3,911 per gram.
    • However, on 24 October, gold prices recovered to be priced at Rs.3,927 per gram and held steady on 25 October as well. This was majorly due to investors awaited a decision on the ongoing Brexit meetings between Great Britain and the European Union.
    • Gold prices increased on 26 October due to weak economic data which indicated a possible rate cut by the United States Federal Reserve, priced at Rs.3,953 per gram. Gold held steady on 27 October as well, closing at the same price.

    October 2019- Week 5 (28-31):

    • Like in Ludhiana, the price of the precious metal in the opening of week 5 was Rs.3,953 per gram as investors shifted focus to the market due to positive cues on the trade talks between China and the United States of America. The value of the dollar increased in the markets due to this as well.
    • After holding steady on 29 October, gold prices dipped to Rs.3,917 per gram on 30 October, hitting its lowest in one week as investors focused on the rate cut decision by the United States Federal Reserve, amidst fading hopes on the trade talks.
    • However, gold recovered marginally to be priced at Rs.3,927 per gram on 31 October after the Federal Reserve announced a rate cut of 1%, resulting in a dip in the value of the dollar and investors shifting to the bullion.

    Trend of Gold Rate in Chandigarh for September 2019 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    September 1 Rate Rs.3,581 per gram
    September 30 Rate Rs.3,959 per gram
    Highest Rate in September Rs.4,011 per gram on 27 September
    Lowest Rate in September Rs.3,554 per gram on 2 September
    Overall Performance Incline
    Percentage Change 10.55%

    September 2019- Week 1 (1-8):

    • The month began with gold rates in Chandigarh opening at Rs.3,959 per gram on rising jeweller demand and overseas trends.
    • Prices remained static for a few days before rising to Rs.4,037 per gram on 5 September on economic slowdown fears after weak U.S. manufacturing data.
    • A rise in the dollar rate after news of an economic stimulus dented demand for bullion, with investors reducing offtake resulting in gold trading lower at Rs.3,938 per gram on 8 September.

    September 2019- Week 2 (9-15):

    • A drop in retail demand and reduced overseas offtake reflected gold rates in Chandigarh, which opened at a static Rs.3,938 per gram as a weak rupee capped gains.
    • Despite interest rate cuts by global central banks, equities were buoyed by a rise in U.S. Treasury yields and a recovering dollar as the yellow metal slid to Rs.3,880 per gram on 13 September.
    • Upcoming trade talks between the U.S. and China also bolstered stock markets as bullion lost favour, with local demand echoing overseas trends as the metal ended the week at Rs.3,843 per gram.

    September 2019- Week 3 (16-22):

    • A drop in retail demand and reduced overseas offtake reflected gold rates in Chandigarh, which opened at a static Rs.3,843 per gram as a weak rupee capped gains.
    • Despite interest rate cuts by global central banks, equities were buoyed by a rise in U.S. Treasury yields and a recovering dollar as the yellow metal slid to Rs.3,880 per gram on 18 September.
    • Upcoming trade talks between the U.S. and China also bolstered stock markets as bullion lost favour, with local demand echoing overseas trends as the metal ended the week at Rs.3,875 per gram.

    September 2019- Week 4 (23-30):

    • Opening at Rs.3,948 per gram on 26 September, gold prices in Chandigarh rose to Rs.4,011 per gram on 27 September on positive overseas cues and a weak rupee.
    • Equity markets rose on news of possible trade negotiations between the U.S. and China, which dampened demand for gold as prices dropped to Rs.3,990 per gram on 29 September.
    • Prices rose as the month ended on renewed market uncertainty and recession fears, with the metal priced at Rs.3,959 per gram on 30 September.

    Also Check Gold Price in NearBy Cities of Chandigarh

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    News About Gold Rate in Chandigarh

    • Prices of gold cross the Rs.41,000 mark on 6 January 2020

      On 6 January 2020, the prices of gold crossed the Rs.41,000 mark, following a positive trend in the international market. The main reason for the increase in prices was the tensions in the Middle East.

      A weaker rupee saw gold prices in Delhi hit Rs.41,400 for 10 grams. On MCX, gold futures prices for the month of February increased by Rs.984 and touch Rs.41,096 for 10 grams. Spot gold prices in the international market increased by 1.5% and hit $1,579.55 for an ounce. Due to the tensions between the US and Iran, the prices of gold increased by 2% on 3 January 2019. The US President said on 5 January 2020 that there would be major repercussions in case Iran retaliated to the attacks. He further added that big sanctions would be imposed on Iran. Due to the geopolitical worries and high crude oil prices, the prices of gold are expected to trade with a positive bias.

      7 January 2020

    • Gold prices fall down Rs.157 at Rs.38,181, silver drops 1.61%

      Gold prices fell Rs.157 at Rs.38,181 due to a strong rupee and hopes of trade talks resuming between U.S.A and China.

      The gold rate of 10 grams 22-carat gold in Mumbai was Rs.34,974 plus 3 percent GST, while 24-carat 10 gram was Rs.38,181 plus GST. The rate of 18 carat gold was Rs.28,636 plus GST.

      The prices of silver also dropped Rs.720 to Rs.43,980 per kg.

      The gold-silver ratio currently stands at 86.81 to 1.

      The February gold futures dropped Rs.61, or 0.16% at Rs 38,033 per 10 gram in evening trade. The gold futures for April were down by Rs.58 or 0.15% at Rs.38,070.

      9 December 2019

    • Prices of gold increase on 11 November 2019 due to trade deal concerns

      Gold futures prices increased on 11 November as there were mixed signals from the trade talks between China and the US. This helped the demand for gold.

      Gold futures prices for December were trading at Rs.37,690 for 10 grams. On 8 November 2019, gold futures for December were trading 0.30 higher at Rs.37,687 for 10 grams. Last week saw gold prices have its biggest weekly fall in three years. In the international market, prices of gold settled at $1,458 for an ounce. Precious metals continue to remain volatile due to the strength of the dollar and the talks in the trade deal between China and the US. Prices of gold are expected to remain at $1,450 for an ounce. According to the Director of IndiaNivesh Commodities, Manoj Kumar, buying of precious metals eased because of the trade drama between China and the US and the strength of the dollar. He further added that gold prices crashed last week after the Chinese Commerce Secretary announced that both the US and China had decided to reduce the tariffs. However, prices of gold in the domestic market were supported by a weaker rupee.

      12 November 2019

    • Gold prices remain steady as due to lack of clarity on Brexit and trade talks

      The price of gold on Monday, 21 October 2019 was holding steady as investors were waiting for some clarity on Brexit as well as the trade talks between the United States of America and China.

      Spot gold prices were up by 0.2%, at $1,492 per ounce and U.S. Gold Futures were up by 0.1% at $1,495 per ounce.

      The Prime Minister of Britain, Boris Johnson had sent a letter to the European Union requesting a delay to Brexit after a defeat in the parliament over the sequencing of the ratification of the EU divorce deal by him.

      Apart from Brexit uncertainties, investors are also waiting on further developments in the trade war between the United States of America and China and the U.S. Federal Reserve meeting at the end of the month. The meeting of the U.S. Federal Reserve will determine the cues on monetary policies.

      Silver prices also rose by 1% to $17.72 per ounce in the global markets.

      22 October 2019

    • Palladium hits record high, Gold dips due to U.S.-China trade tensions

      Gold prices fell due to the uncertainties revolving around U.S.-China trade tension which drove the investors to the safety of dollar.

      Palladium hit record high as it managed to breach the $1,700 an ounce level for the first time.

      The prices of spot gold dropped 0.4% to $1,490 per ounce at 0743 GMT, while the U.S. gold features fell 0.6% to $1,496.60 per ounce.

      Despite the news surrounding the possibility that the U.S government is planning to delist Chinese companies from U.S. stock exchanges, there was no major impact on European and Asian stock markets including China’s.

      3 October 2019

    • Gold Prices Fall Despite Marginal Increase In Overseas Demand

      Gold prices in India remained under pressure and fell for a fourth consecutive day. Gold futures for October delivery fell by 0.04% to Rs.37,670 for 10 grams.

      Silver on the other hand rose marginally, trading 0.04% higher to Rs.46,626 per kg. However, the industrial metal has seen steep losses over the past few days, with the metal trading Rs.4,900 lower due to declining demand.

      On the international market, spot gold rose 0.3% to $1,503.59 per ounce. Despite this slight rise, the precious metal could remain under pressure as the U.S. Federal Reserve remained non-committal on further possible interest rate cuts.

      Geopolitical tensions and global economic risks could keep bullion popular, as evidenced by the rise in price following the attacks on Saudi Arabia oil infrastructure.

      20 September 2019

    • Gold and Silver Rates Dip After Reaching Record Highs

      There was a sharp dip in gold and silver prices in India, echoing a global drop in bullion prices. Gold futures for October delivery fell 1% to Rs.39,422 for 10 grams after hitting a record high of Rs.39,885 earlier in the week.

      Silver futures also recorded a drop of 1.7% to Rs.50,523 per kg after touching Rs.51,489 per kg in trading the previous day.

      An improvement in risk sentiment saw Asian stocks surge after reports of China opening negotiations with the United States, signalling a possible end to the trade war.

      The withdrawal of the controversial extradition bill in Hong Kong also supported equities, as bullion’s safe-haven appeal was dented.

      5 September 2019

    • Prices of gold and silver increase due to firm demand and trend overseas

      On 2 August 2019, the price of gold increased in the country following a firm global trend. Gold futures, rose by 0.9% to Rs.35,277 per 10 grams almost hitting the highest of Rs.35,409 per 10 grams on MCX.

      The prices of Tracking gold and silver prices also increased by 0.4% to Rs.41,179 per 10 grams. In the global markets, gold prices had increased by almost 2.5% after United States President, Donald Trump mentioned that he will be imposing additional tariffs on the Chinese imports.

      The President had said that he will be imposing a 10% additional tariff on Chinese imports which are worth $300 billion starting from 1 September 2019. This renewed the tension in trade between the two countries hitting the markets and increasing the demand for safe-haven assets of gold and silver.

      This move made by Donald Trump will also influence the United States Federal Reserve’s move on further rate cuts by increasing its chances. Central Bank buying and lower interest rates will help the buying price of the bullion.

      The consumption of gold in India rose to 13% in July to 213.2 tonnes due to increased demand in jewellery and investments along with soft prices. This resulted in India surpassing China to become the biggest consumer of the metal for the first time since December 2013. However, the demand for the yellow metal is said to decrease according to the World Gold Council due to high gold prices.

      5 August 2019

    • Price of gold hits an all-time high at Rs.35,970 per 10 grams

      Gold prices on 22 July 2019 touched its all-time high at Rs.35,970 per 10 grams in the National Capital Region of the country.

      This was mainly attributed to increased demand by local demand which resulted in an increase in the price of the metal by Rs.100. Along with gold, the price of silver also increased by Rs.260 and was at Rs.41,960 per kg as the demand increased from industries and coin makers.

      With the decline in the equity markets and the increase in the local demand of the metal, investors shifted their investments to the bullion from the stock market. This resulted in the rise in prices of the precious metal.

      Spot gold was trading at $1,425.60 an ounce and silver was at $16.40 per ounce. In New Delhi, 99.9% pure gold was priced at Rs.35,970 per 10 grams and 99.5% pure gold was at Rs.35,800 per 10 grams.

      As spot gold increased, the price of Sovereign gold increased as well to Rs.27,500 per 8 grams. Silver prices increased by Rs.260 to Rs.41,960 per kg and weekly-based delivery increased to Rs.41,073 per kg. Silver coins were holding at a flat price of Rs.84,000 for buying of 100 coins and Rs.85,000 for selling of 100 coins.

      23 July 2019

    • Weak Local Demand, Overseas Cues Lead to Gold Price Slide

      Gold rates in India dropped on weak jeweller demand as well as subdued global cues. Spot gold traded lower at $1,322.70 per ounce as trade war fears were averted after the rescinding of possible U.S. tariffs on Mexico.

      Locally gold of 99.5% purity fell by Rs.360 to trade at Rs.33,200 for 10 grams. Pure gold of 99.9% purity also recorded a loss of Rs.360 as the metal traded at Rs.33,370 for 10 grams.

      A lacklustre monsoon prediction has also reduced retail demand for bullion, as rural India stays away from gold purchases.

      11 June 2019

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