Gold Rate in Coimbatore Today

  • Today's Gold Rate in Coimbatore ( 24 Jan 2020 )
    ₹ 3,819
    Today's Gold Rate (22K) per gram
    Compare Gold Rate In Coimbatore (Today & Yesterday)
    Today
    (24 Jan 2020)
    Yesterday
    (23 Jan 2020)
    Rate Change
    Standard Gold (22 K) ( 1 gram ) ₹ 3,819 ₹ 3,815 ₹ 4 ↑
    Standard Gold (22 K) ( 8 grams ) ₹ 30,552 ₹ 30,520 ₹ 32 ↑
    Pure Gold (24 K) ( 1 gram ) ₹ 4,010 ₹ 4,006 ₹ 4 ↑
    Pure Gold (24 K) ( 8 grams ) ₹ 32,080 ₹ 32,048 ₹ 32 ↑
    Daily Gold Rates
    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    24 Jan 2020 ₹ 3,819 ₹ 30,552 ₹ 4,010 ₹ 32,080
    23 Jan 2020 ₹ 3,815 ₹ 30,520 ₹ 4,006 ₹ 32,048
    22 Jan 2020 ₹ 3,807 ₹ 30,456 ₹ 3,997 ₹ 31,976
    21 Jan 2020 ₹ 3,836 ₹ 30,688 ₹ 4,028 ₹ 32,224
    20 Jan 2020 ₹ 3,820 ₹ 30,560 ₹ 4,011 ₹ 32,088
    19 Jan 2020 ₹ 3,828 ₹ 30,624 ₹ 4,019 ₹ 32,152
    18 Jan 2020 ₹ 3,828 ₹ 30,624 ₹ 4,019 ₹ 32,152
    17 Jan 2020 ₹ 3,809 ₹ 30,472 ₹ 3,999 ₹ 31,992
    16 Jan 2020 ₹ 3,802 ₹ 30,416 ₹ 3,992 ₹ 31,936
    15 Jan 2020 ₹ 3,801 ₹ 30,408 ₹ 3,991 ₹ 31,928

    Weekly & Monthly Graph of Gold Rate in Coimbatore

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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 Coimbatore

    Coimbatore is the second largest city in the southern state of Tamil Nadu and is one of the fastest growing tier 2 cities in India. It is home to some of the biggest textile and manufacturing industries, which have ensured that the city has a high standard of living. Gold has been the preferred choice of investments among Indians and Coimbatore too has seen a steady increase in gold consumption, regardless of the prevailing gold rates.

    Gold rates in Coimbatore depend on market fluctuations and availability. Gold buyers can choose from 22 karat or 24 karat gold, depending on their needs and budget. 22 karat gold is about 92% and the gold rate for this is less than 24 karat gold, which is 99.99% pure.

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

    Parameters Gold price (24 karat)
    January 1 Rate Rs.3,922 per gram
    January 19 Rate Rs.4,019 per gram
    Highest Rate in January Rs.4,125 per gram on 8 January
    Lowest Rate in January Rs.3,922 per gram on 1 January
    Overall Performance Decline

    January 2019 - Week 1 (01 - 05):

    • Gold prices in Coimbatore saw a positive trend in the month of January. Opening the month at Rs.3,922 per gram, the metal’s prices increased throughout the week based on a weak dollar and other factors.
    • On 3 January, the price of the metal increased to Rs.3,983 per gram after decreasing marginally to Rs.3,919 per gram on 2 January. The rise in prices was majorly due to the falling value of the dollar in the global markets. Due to this, investors shifted to the bullion, thus increasing demand.
    • As the tensions between Iran and the United States of America escalated, the price of the gold increased further to be priced at Rs.4,024 per gram on 4 January. With President Trump’s remarks on the drone strike, traders relied on the bullion as a safe haven asset.

    January 2019 - Week 2(06 - 12):

    • Gold prices in Coimbatore saw a fluctuating trend in the second week of January. Opening at Rs.4,091 per gram, the metal’s prices fluctuated due to geopolitical factors revolving around the United States of America and Iran.
    • After dipping to Rs.4,035 per gram on 7 January gold prices hit the highest price in the week at Rs.4,125 per gram on 8 January. The sudden surge in prices was majorly due to investors awaiting further developments surrounding the tension between Iran and the United States of America.
    • However, as United States President Donald Trump refused to retaliate, the value of bullion dipped. Investors shifted to the stock market amidst a boost in the dollar value along with increased risk appetite. The metal closed the week at a lowered price of Rs.4,011 per gram.

    January 2019 - Week 3(13 - 19):

    • Gold prices in Coimbatore saw a fluctuating trend in the third week of January. Opening at Rs.3,991 per gram, the metal’s prices fluctuated due to geopolitical factors along with the signing of the trade deal between the United States of America and China.
    • After dipping to Rs.3,952 per gram on 14 January, the price of gold recovered and was Rs.3,991 per gram on 15 January. Investors shifted to the stock market once the trade deal was signed and risk appetite was at a high. On 17 January, the price of the metal increased to Rs.3,999 per gram as traders shifted back to the bullion due to speculations about the unresolved issues in the trade deal.
    • However, with the geopolitical tensions escalating in the Middle East with a drone and military strike in Yemen, investors stuck to the bullion for their investments due to high safe haven appeal. At the end of the week, the price of the metal closed at Rs.4,019 per gram.

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

    Parameters Gold price (24 karat)
    December 1 Rate Rs.3,828 per gram
    December 29 Rate Rs.3,803 per gram
    Highest Rate in December Rs.3,830 per gram on 5 December
    Lowest Rate in December Rs.3,771 per gram on 11 and 13 December
    Overall Performance Decline

    December 2019 - Week 1 (1 – 8):

    • Gold prices in Coimbatore opened the final week of November at Rs.3,806 per gram. The rates of the yellow metal saw a lot of fluctuations due to concerns regarding the trade deal between US and China, ongoing protests in Hong Kong etc.
    • With traders awaiting further developments regarding the trade deal, the rates of the precious metal dropped to its lowest for the month of November on 28 November when every gram of gold cost Rs.3,792.
    • With neither Washington nor Beijing providing any clear signs of there being a trade deal the rates of gold closed the week at Rs.3,828 per gram in Coimbatore and was trending downwards.

    December 2019 - Week 2 (9 - 15):

    • In Coimbatore, gold prices witnessed a declining trend over the second week of December. The rates opened at Rs.3,780 per gram. The rates witnessed a drop of Rs.13 per gram from the previous week’s closing price.
    • With investors awaiting clarity on whether a next round of US tariffs on Chinese imports would take effect, the rates slipped to its lowest recorded price for the month on December 11 with every gram costing Rs.3,771.
    • The prices picked up towards the end of the week as the safe-haven appeal of gold was boosted due to political tensions in the world’s largest economy. Gold closed the week in Coimbatore at Rs.3,803 per gram.

    December 2019 - Week 3 (16 - 22):

    • In Coimbatore, gold prices witnessed a declining trend over the second week of December. The rates opened at Rs.3,796 per gram. There was a marginal drop in prices when compared to the closing price of the previous week due to various global factors including trade deal uncertainty.
    • With the trade deal uncertainty, the prices of the metal increased to Rs.3,814 per gram and fluctuated through the rest of the week. On 19 December, the price of the metal decreased marginally due to positive U.S. jobs data.
    • The week ended with the metal priced at Rs.3,817 per gram with an overall decline due to the impeachment of the president of the United States, Donald Trump. The investors shifted to the bullion from the stock market, resulting in the increase in prices.

    December 2019 - Week 4 (23 - 29):

    • In Coimbatore, gold prices witnessed a declining trend over the second week of December. The rates opened at Rs.3,796 per gram. There was a marginal drop in prices when compared to the closing price of the previous week due to various global factors including trade deal uncertainty.
    • With the trade deal uncertainty, the prices of the metal increased to Rs.3,814 per gram and fluctuated through the rest of the week. On 19 December, the price of the metal decreased marginally due to positive U.S. jobs data.
    • The week ended with the metal priced at Rs.3,817 per gram with an overall decline due to the impeachment of the president of the United States, Donald Trump. The investors shifted to the bullion from the stock market, resulting in the increase in prices.

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

    Parameters Gold price (24 karat)
    November 1 Rate Rs.3,892 per gram
    November 30 Rate Rs.3,828 per gram
    Highest Rate in November Rs.3,892 per gram on 1 November
    Lowest Rate in November Rs.3,792 per gram on 28 November
    Overall Performance Decline

    November - Week 1 (01-03):

    • The price of gold on 1 November in Bangalore was Rs.3,892 per gram. Gold prices increased marginally due to the interest rate cut by the United States Federal Reserve and renewed uncertainties in the trade talks between the United States of America and China.
    • However, investors shifted focus to the markets, decreasing the price of gold marginally to Rs.3,890 per gram on 2 November.
    • A strong job data in China and increased applications for unemployment benefit in the United States of America took away the risk appetite considerably from the investors.

    November - Week 2 (04-08):

    • Gold in Coimbatore opened the month at Rs.3,780 per gram and decreased due to positive cues in the trade talks between China and the United States of America. On 4 November, the price of the metal was Rs.3,886 per gram.
    • On 6 November, the price of the metal hit Rs.3,840 per gram as the risk appetite of investors increased due to a strong dollar and positive stock market trends as both China and the United States of America agreed on tariff rollbacks.
    • After increasing marginally on 7 November to Rs.3,860 per gram, the price of the precious metal nearly hit its monthly low at Rs.3,817 per gram as investors shifted to the stock market leaving a dent on the bullion demand in global markets.

    November - Week 3 (09-17):

    • Gold prices opened at Rs.3,812 per gram in Coimbatore. There was a decline of Rs.5 per gram in the prices of the precious metal when compared to the previous day’s closing price.
    • The prices saw a fluctuating trend in Coimbatore over the week due to positive developments in the trade talks between Washington and Beijing and an upbeat risk appetite from investors.
    • The rates touched a 3-month low on 12 November when every gram of the yellow metal cost Rs.3,803 in the city.
    • Gold closed the third week of November at Rs.3,827 per gram after recovering slightly as investors shifted to the bullion as a safe-haven asset due to no clear sign of the trade deal between the United States and China.

    November - Week 4 (18 - 24):

    • Due to trade tensions amongst investors, the safe-haven appeal increased, resulting in an increase in prices of gold in Coimbatore. Opening the fourth week of the month at Rs.3,818 per gram, gold prices increased to Rs.3,841 per gram due to the impeachment inquiry on President Trump.
    • On 20 November and 21 November, gold prices held steady as investors awaited developments on the trade talks. Between President Trump threatening to increase prices on Chinese imports and China inviting U.S. officials to their country to continue the talks, investors shifted between the market and bullion, resulting in fluctuating prices.
    • However, at the end of the week, gold prices dipped due to positive U.S. jobs data and positive hopes on the trade deal. This increased the value of the dollar and the precious metal closed the week at Rs.3,821 per gram.

    November - Week 5 (25 – 30):

    • Gold prices in Coimbatore opened the final week of November at Rs.3,806 per gram. The rates of the yellow metal saw a lot of fluctuations due to concerns regarding the trade deal between US and China, ongoing protests in Hong Kong etc.
    • With traders awaiting further developments regarding the trade deal, the rates of the precious metal dropped to its lowest for the month of November on 28 November when every gram of gold cost Rs.3,792.
    • With neither Washington nor Beijing providing any clear signs of there being a trade deal the rates of gold closed the week at Rs.3,828 per gram in Coimbatore and was trending downwards.

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

    Parameters Gold price (24 karat)
    Rate on 1st October Rs.3,722 per gram
    Rate on 31st October Rs.3,857 per gram
    Highest Rate in October Rs.3,869 per gram on 28 October
    Lowest Rate in October Rs.3,722 per gram on 1 October
    Overall Performance Incline

    October 2019- Week 1 (1-6):

    • Gold price in Coimbatore opened relatively static at Rs.3,722 per gram due to poor retail demand but rose steadily during the week on rising jeweller orders and overseas cues.
    • Gold rate in Coimbatore rose to Rs.3,818 per gram on 3 October as local markets fell steeply echoing international cues, with investors switching to equities as a hedge against equity uncertainty.
    • Interest in bullion continued to rise, with the yellow metal trading at Rs.3,830 per gram on 6 October as retail and industrial demand shot up.

    October 2019- Week 2 (7-13):

    • The price of gold in Coimbatore opened the month of October at a stagnant price of Rs.3,722 per gram. Gold prices increased in 9 and 10 October to hit it weekly high at Rs.3,848 per gram due to increased local demand and positive trends in global markets.
    • Along with local demand, various global factors added to the bullion’s safe-haven appeal as tensions between the United States of America and China rose before the talks along with tensions regarding Brexit.
    • However, gold rate in Coimbatore slipped to Rs.3,826 per gram on 13 October closing the week at a relatively lower price as the stock markets showed positive signs due to global cues.

    October 2019- Week 3 (14-20):

    • Gold prices in Coimbatore opened at Rs.3,822 per gram marginally decreasing from the closing price of last week as the trade talks between the United States and China made progress, which gave rise to positive market trends and decreased risk appetite.
    • However, hitting the weekly high on 15 October at Rs.3,856 per gram, gold prices remained steady as the trade talks between the two economic superpowers faded resulting in investors depending on the bullion.
    • The price of gold kept fluctuating soon after hitting the weekly high due to global growth concerns from investors along with Great Britain signing a new deal with the European Union on Brexit. On 20 October, gold closed the week at Rs.3,849 per gram.

    October 2019- Week 4 (21-27):

    • The price of gold in Coimbatore opened the week at Rs.3,845 per gram and decreased on 27 October to Rs.3,829 per gram due to renewed optimism from the investors on the trade talks between the United States of America and China, increasing risk appetite.
    • However, on 23 October, gold prices surged marginally to be priced at Rs.3,846 per gram and increased marginally to Rs.3,847 per gram on 24 October, holding steady ahead of the meeting on Brexit.
    • On 26 October, the price of gold increased to Rs.3,871 per gram as weak economic data from the United States of America hinted yet another rate cut from the United States Federal Reserve, resulting in investors shifting to gold and silver as a safe haven. On 27 October, gold closed at Rs.3,872 per gram.

    October 2019- Week 5 (28-31):

    • In Coimbatore, the price of gold on 28 October was Rs.3,869 per gram and dipped to Rs.3,836 per gram on 29 October as trade talks showed positive signs for investors, shifting them from the bullion to the market. Due to this, the value of the dollar increased.
    • On 30 October, hopes of trade talks faded which led to a slight increase in gold prices to Rs.3,847 per gram. As the United States Federal Reserve strongly hinted at a rate cut to be implemented soon.
    • After a rate cut of 1% was announced, the value of the U.S. dollar decreased in the market, showing positive trends for gold, closing the week and the month at Rs.3,857 per gram on 31 October.

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

    Parameters Gold price (24 karat)
    September 1 Rate Rs.3,481 per gram
    September 30 Rate Rs.3,876 per gram
    Highest Rate in September Rs.3,913 per gram on 29 September
    Lowest Rate in September Rs.3,481 per gram on 1 September
    Overall Performance Incline
    Percentage Change 11.34%

    September 2019- Week 1 (1-8):

    • Opening marginally higher at Rs.3,876 per gram gold rate in Coimbatore rose on increased overseas interest and higher jeweller demand.
    • Gold price in Coimbatore rose to Rs.3,953 per gram on 4 September as disappointing U.S. data dented the dollar and equity markets, though local demand remained steady.
    • Indications of Sino-U.S. trade talks bolstered risk sentiment and reduced bullion demand as the precious metal traded lower at Rs.3,855 per gram when the week ended on 8 September.

    September 2019- Week 2 (9-15):

    • Interest in bullion was on the decline, with gold price in Coimbatore falling steadily during the week after opening lower at Rs.3,842 per gram.
    • Rising investor confidence in equities coupled with a recovering dollar rate dented bullion demand, as gold rate in Coimbatore dropped to Rs.3,799 per gram on 12 September.
    • A thaw in U.S.-China trade relations boosted equity markets as gold lost its sheen for investors, with the metal sliding to Rs.3,763 per gram when the week ended on 15 September.

    September 2019- Week 3 (16-22):

    • Interest in bullion was on the decline, with gold rate in Coimbatore falling steadily during the week after opening lower at Rs.3,807 per gram.
    • Rising investor confidence in equities coupled with a recovering dollar rate dented bullion demand, as gold price in Coimbatore dropped to Rs.3,799 per gram on 18 September.
    • A thaw in U.S.-China trade relations boosted equity markets as gold lost its sheen for investors, with the metal sliding to Rs.3,794 per gram when the week ended on 22 September.

    September 2019- Week 4 (23-30):

    • Gold price in Coimbatore opened at Rs.3,904 per gram on steady overseas offtake and rising demand from local jewellers, though a weak rupee dented retail demand as prices fell to Rs.3,876 per gram on 28 September.
    • Increased U.S. tariffs on Chinese goods led to equities falling as investors increased their bullion offtake, pushing gold prices higher to Rs.3,913 per gram on 29 September.
    • Conflicting cues and recessionary fears kept demand steady but prices dropped to Rs.3,876 per gram on 30 September as the metal recorded a 11.34% rise in value during the month.

    Also Check Petrol Price and Diesel Price in Coimbatore

    Gold has been considered a safe investment as it negate any rise in inflation. One can choose to invest in any of the following gold options in Coimbatore.

    • Jewelry – The love for jewelry among Indians is well known and jewelry constitutes the major portion of gold investments in Coimbatore. Jewelry can be sold or exchanged for good rates, making it an investment for all seasons.

    • Gold Bullion Bars – Gold bullion bars are an ideal investment option for those who can afford them. These bars can weigh up to 1 kg each and are highly desired across the world. With 99.5% purity these bars can be perfect for those who wish to invest in a commodity which has no risk.

    • Gold Bullion Coins – Gold coins are today considered the safest and smartest investment in gold. People in Coimbatore prefer buying gold coins rather than jewelry as there is no wastage or making charge involved with gold coins. They are easy to liquidate and can offer instant money when the need arises.

    • Gold Accumulation Plan – This new investment method revolves around people depositing small amounts of money into an account on a monthly basis. After a specified period the investor can choose from gold bars/coins or jewelry, as per the needs.

    • Allocated Gold Accounts – This plan is perfect for those who wish to own gold but do not want to keep it with them. Investing in gold account ensures that banks keep the gold safe and secure and the owner can access the gold when need be.

    • 24 karat gold – The current rate of 1 gram of 24 karat gold in Coimbatore is Rs 2715 (as of June 15, 2015). The rate has remained constant over the last few months, averaging at around Rs 2700 per gram.

    • 22 karat gold – The cost of 1 gram 22 karat gold is approximately Rs 2540 as of June 15, 2015. The cost of 22 karat gold has hovered around the Rs 2550 mark, indicating a stability in costs, making it an opportune time to invest in gold.

    Coimbatore is home to most of the well-established gold dealers and jewellers, some of the major ones being Malabar Gold, Kalyan Jewellers, Josco Jewellers, Karpagam Jewellers and Joyalukkas. Residents can also find smaller gold dealers across the city, with each one catering to specific needs.

    Also Check Gold Price in NearBy Cities of Coimbatore

    Read more on Gold

    Gold Rate - Sitemap

    News About Gold Rate in Coimbatore

    • Gold prices little changed ahead of FED policy statement

      Gold remained little unchanged after investors showed caution ahead of FED economic policy statement and the December 15 deadline for U.S implementing tariffs on Chinese goods.

      Spot gold fell 0.1% to $1,463.20 per ounce. U.S. gold futures dropped 0.1% at $1,467.40.

      Federal Reserve, the Central Bank of U.S.A will issue the economic policy statement later in the day.

      Though it is expected that FED will remain the interest rate unchanged, the investors will be eager to hear the outlook for the economy which has impacted due to U.S - China trade war.

      The palladium rose 0.2% to $1,899.67 an ounce, having surged past the key level of $1,900 an ounce for the first time on Tuesday.

      Silver fell 0.3% to $16.60 per ounce.

      11 December 2019

    • Prices of gold increase for the third continuous day

      In India, the price of gold increased for the third day in a row. Gold futures prices for December increased by 0.14% and hit Rs.38,150 for 10 grams. In India, gold prices have increased from around Rs.37,500 for 10 grams.

      However, even after the recent gains, prices of gold have decreased by around Rs.1,850 for 10 grams after reaching record highs in September. In the international market, prices of spot gold increased slightly and hit $1,464.31 for an ounce. Gold prices were supported because of the uncertainty of the trade deal between China and the US. According to a note made by Kotak Securities, prices of gold increased after a three-week dip because of the uncertainty of the trade deal between the US and China. The US President warned that the tariffs would increase if there is no agreement in the trade deal. Investors are also waiting for any progress in the trade deal. According to Kotak Securities, gold has recovered because of the trade uncertainty and disappointing economic data. However, the rates could be steady because of the strong US dollar.

      15 November 2019

    • Price of gold increases by Rs.19 due to increased festive demand

      Gold prices rose by Rs.19 to be priced at Rs.38,450 per 10 grams in Mumbai a day before the festival of Dhanteras. The increase in prices was majorly due to an increase in festive demand for the precious metal.

      The rate of 22-karat gold in Mumbai was Rs.35,220 per 10 grams added with 3% GST, while 24-karat gold was priced at Rs.38,450 per 10 grams plus GST. The 18-karat gold was priced at Rs.28,838 per 10 grams plus GST. On the other hand, silver prices remained the same at Rs.45,535 per kg as of 23 October 2019.

      Gold, in the futures market, touched the intraday high of Rs.38,115 per 10 grams and a low of Rs.37,999 per 10 grams on the Multi Commodity Exchange. For the December series, the precious metal hit a low of Rs.32,289 per 10 grams and a high of Rs.40,771 per 10 grams.

      Gold futures for the December delivery increased by Rs.97 to be priced at Rs.38,100 per gram for a business turnover of 17,749 lots. There was an increase with gold contracts for February delivery as well by 0.24% or Rs.93 to be priced at Rs.38,340 per 10 grams for a turnover of 3,741 lots.

      In the global market, gold traded at a marginally higher price of $1,497.30 an ounce, up by $1.75 in London trading.

      25 October 2019

    • Gold Prices Edge Higher Ahead of Sino-U.S. Trade Talks

      Gold prices edged up in early trading ahead of the Sino-U.S. trade talks scheduled for later this week. Spot gold inched up by 0.1% to $1,505.38 per ounce, while U.S. gold futures dropped by 0.1% to $1,511 per ounce.

      The latest round of trade talks between the United States and China will be held on 10 and 11 October, with markets watching closely for impacts on global trade and economic growth.

      Future trade negotiations seem a distant prospect, and China has doubled down on its demands which could limit progress at the negotiating table.

      Uncertainty over the outcome has boosted demand for safe-haven assets like bullion, though there has been sluggish growth in retail demand across Asia.

      Weak economic data and slow job growth in the U.S. has once again raised fears of recession and dented equity markets globally.

      7 October 2019

    • Price of gold and silver increase in domestic markets due to increased demand

      In New Delhi, the price of 24 karat gold increased by Rs.330 to Rs.39,020 per 10 grams in spot markets according to the HDFC Securities. Along with gold, silver had also seen a rise in prices by Rs.730 to Rs.48,720 per kg.

      However, in the futures market, the price of gold was trading flat. On the Multi Commodity Exchange, gold futures prices for October was Rs.37,879 per 10 grams resulting in a decline of 0.12%. Silver futures on MCX was down by 0.18% to Rs.48,025 per kg.

      Price of the yellow metal held steady in global markets at $1,521 per ounce due to speculation of an economic slowdown and tensions in the Middle East. SPDR Gold Trust mentioned that their holdings increased to 908.52 tonnes, increasing by 1.61%.

      In India, the demand for the precious metal was flat due to the Shradh period. However, jewellers seem positive for the demand to pick up by the end of the month, ahead of the festive season.

      24 September 2019

    • Price of gold increases due to concerns over the global economy and trade tensions

      Gold prices increased in the global market on 11 September 2019. The price rise was majorly attributed to the trade tensions between the United States of America and China as well as the state of the global economy.

      However, the increase in price was menial one after the metal hit its lowest in a month in the last session. This was due to the risk-sentiment ahead of the major meetings going to be held by the Central Bank.

      The price of Spot gold was up by 0.5% at $1,492.50 per ounce and is a slight increase when the prices hit the 4-week low of $1,483.90 per ounce last month. U.S. Gold Futures also showed a marginal increase of 0.10% at $1.500.50 per ounce.

      According to sources, both Brexit and the trade war between China and the United States of America are concerns for the price of the bullion in the global market. This will encourage Central Banks to remain dovish, weighing on the yield resulting in a boost in gold.

      The European Central Bank is said to set a tone for the upcoming rate-setting decisions by the United States Federal Reserve and the Bank of Japan in the following week.

      12 September 2019

    • Silver prices increase and gold prices hit record highs

      On 13 August 2019, gold prices hit record highs in India. October gold futures hit a new high of Rs.38,525, rising by 0.70% on MCX. Silver futures also hit Rs.44,280, increasing by 1.4%. The weakening rupee against the dollar, which crossed Rs.71 on 13 August 2019, is considered as one of the reasons for the increase in domestic gold prices.

      According to the Press Trust of India, gold prices also hit an all-time high of Rs.38,470 in spot markets. Trade talks were put in jeopardy after the President of the United States of America said that no deal would be made with China. Recession is a worry for global equity markets due to the damaging Brexit and the trade war between China and the US. As per the data from the commerce ministry, during the April and June quarter of the current financial year, gold imports in India increased by 35.5% hitting $11.45 billion. However, analysts expect the demand to decrease in the second quarter due to the record high prices.

      14 August 2019

    • Gold Rates Rise on Expectations of Economic Stimulus

      Gold rates climbed on an easing on monetary policy from global central banks, but gains were capped by a strong U.S. dollar rate.

      Spot gold rose by 0.4% to $1,422.05 per ounce while U.S. gold futures traded higher at $1,423.60 per ounce.

      Expectations of an interest rate cut by the U.S. Federal Reserve, strong interest in bullion investment and continued geopolitical tensions propped up gold prices. The European Central Bank is also expected to ease monetary policy to boost tepid economic growth.

      The International Monetary Fund (IMF) has revised its global growth rate lower as uncertainty from U.S.-China tariffs and a discordant Brexit could impact investment and supply chains.

      24 July 2019

    • Gold Drops on Waning Jeweller Demand

      Despite positive overseas cues and steady demand, gold rates in India fell on easing jeweller demand.

      Locally, pure gold (99.9% purity) fell by Rs.400 to trade at Rs.35,400 for 10 grams while standard gold (99.5% purity) also recorded a drop of Rs.400 and closed the trading day at Rs.35,230 for 10 grams.

      Spot gold traded higher to close at $1,409.40 per ounce as the dovish comments by the Federal Reserve Chairman bolstered interest in bullion. Weak economic growth figures and waning manufacturing data dented investor confidence in equities, prompting the rise in bullion offtake.

      There was no change in the price of sovereign gold, which continued to trade at Rs.27,400 for 8 grams.

      12 July 2019

    • Weak Economic Data Boosts Gold Demand

      Gold prices rose as weak economic data stoked fears of poor global growth, with spot gold rising 0.1% to $1,276.43 per ounce. U.S. gold futures inched up to settle at $1,279.70 per ounce, recording a $0.50 rise.

      A surprising drop in German and South Korean economic data resulted in equity markets falling as global economic downturn fears were renewed. This acted as a catalyst for gold as investor interest in the metal rose.

      Gold could see a slide with the release of U.S. GDP data later in the week, with projections of 2.1% growth in the first quarter of 2019. The U.S. dollar is usually buoyed by positive economic data which spells a drop in bullion interest.

      25 April 2019

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