Gold Rate In Cuttack

  • Gold Rate Today ( 21 Jan 2020 )
    ₹ 3,939
    Today's Gold Rate (22K) per gram
    Compare Gold Price (Today & Yesterday)
    (21 Jan 2020)
    (20 Jan 2020)
    Rate Change
    Standard Gold (22 K) ( 1 gram ) ₹ 3,939 ₹ 3,909 ₹ 30 ↑
    Standard Gold (22 K) ( 8 grams ) ₹ 31,512 ₹ 31,272 ₹ 240 ↑
    Pure Gold (24 K) ( 1 gram ) ₹ 4,136 ₹ 4,104 ₹ 32 ↑
    Pure Gold (24 K) ( 8 grams ) ₹ 33,088 ₹ 32,832 ₹ 256 ↑
    Daily Gold Rates
    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    21 Jan 2020 ₹ 3,939 ₹ 31,512 ₹ 4,136 ₹ 33,088
    20 Jan 2020 ₹ 3,909 ₹ 31,272 ₹ 4,104 ₹ 32,832
    19 Jan 2020 ₹ 3,909 ₹ 31,272 ₹ 4,104 ₹ 32,832
    18 Jan 2020 ₹ 3,909 ₹ 31,272 ₹ 4,104 ₹ 32,832
    17 Jan 2020 ₹ 3,909 ₹ 31,272 ₹ 4,104 ₹ 32,832
    16 Jan 2020 ₹ 3,909 ₹ 31,272 ₹ 4,104 ₹ 32,832
    15 Jan 2020 ₹ 3,880 ₹ 31,040 ₹ 4,074 ₹ 32,592
    14 Jan 2020 ₹ 3,912 ₹ 31,296 ₹ 4,108 ₹ 32,864
    13 Jan 2020 ₹ 3,939 ₹ 31,512 ₹ 4,136 ₹ 33,088
    12 Jan 2020 ₹ 3,939 ₹ 31,512 ₹ 4,136 ₹ 33,088

    Gold Rate Trend

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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 Cuttack

    Cuttack is perhaps one of the oldest cities in the country, occupying an important position in the history of northern India. A bustling metropolis, today Cuttack is the second largest city of Odisha and has a teeming population. The city was the capital of the Ganga Dynasty and served as a key trading and commerce destination, making it a prosperous and important city. This trade and commerce helped the residents grow their wealth, with gold becoming an integral unit of money and a part of life here.

    Today, gold is viewed as an excellent investment option in the city, with a number of people purchasing it on auspicious occasions. Given the fact that the city does not have local gold production, residents rely on imported gold, which means that international prices have an impact on local gold rates in Cuttack.

    Gold Rate Trend in Cuttack for January 2018 to March 2018 (per gram of 24 karat gold)

    Factor January February March
    1st day Rs.3,090 per gram Rs.3,146 per gram Rs.3,143 per gram
    Last day Rs.3,127 per gram Rs.3,163 per gram Rs.3,159 per gram
    Highest price Rs.3,172 per gram on 25 January Rs.3,191 per gram on 18 & 19 February Rs.3,198 per gram on 25 & 26 March
    Lowest price Rs.3,088 per gram on 5 January Rs.3,105 per gram from 10-13 February Rs.3,117 per gram on 20 March
    Trend Incline Incline Incline
    Change 1.19% 0.54% 0.50%

    Gold Rate Trend in Cuttack for January 2018:

    • Gold opened at Rs.3,090 per gram when trading commenced for the first month of Q1 2018.
    • The US dollar was weak during the first few days of the month, which caused gold rates to surge to Rs.3,103 per gram by the 4th.
    • However, the announcement of US jobs data caused gold rate in Cuttack to plummet to Rs.3,088 per gram - the month’s lowest rates - on the 5th of January.
    • After the jobs data turned out to be weak, gold bounced back to trade at Rs.3,107 per gram on the 6th.
    • Gold fluctuated largely over the first three week before seeing significant surges towards the fourth and fifth week of the month.
    • On the 25th, gold traded at Rs.3,172 per gram - the month’s highest rate - as dollar went through a torrid phase and gold investors capitalised on that.
    • When the month came to an end, gold was priced at Rs.3,127 per gram and a 1.19% incline was recorded over this month’s trading.

    Gold Rate Trend in Cuttack for February 2018:

    • The metal opened at Rs.3,146 per gram when the second month of Q1 2018 began. Gold prices were on the incline this month as well, thanks to steady local demand and a poorly performing dollar.
    • Gold rate in Cuttack fluctuated largely for much of the month before recording the month’s lowest rate between the 10th to the 13th of the month when it traded at Rs.3,103 per gram.
    • During the Valentine’s day - which also happened to be the wedding season- gold price in Cuttack surged. This was due to increased buying from retailers.
    • As demand kept improving during the 3rd week, gold rates went up to a monthly high figure of Rs.3,191 per gram on the 18th and the 19th of this month.
    • However, as demand subsided, gold rates declined to close at Rs.3,163 per gram on the final day of the month.
    • Gold rates saw a 0.53% incline this month, thanks to steady local demand brought about by the wedding season.

    Gold Rate Trend in Cuttack for March 2018:

    • Gold price in Cuttack had dropped by Rs.20 when trading for the month of March began.
    • On the 1st, gold was priced at Rs.3,143 per gram - as opposed to Rs.3,163 per gram at the time of previous month’s closing.
    • Rates fluctuated quite a bit this month for the first three weeks before a rising dollar pushed rates down to Rs.3,117 per gram on the 20th - the lowest for the month.
    • However, the resurgence of the dollar decline halted and gold rate in Cuttack went down to a monthly high rate of Rs.3,198 per gram over the 25th and the 26th.
    • Gold consolidated over the final five days of March and close at Rs.3,159 per gram when the quarter came to an end.
    • Price trends saw a 0.50% incline this month, thanks to a rise seen towards the final few days of March 2018.

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    Gold Rate Trend in Cuttack for October 2017 to December 2017 (per gram of 24 karat gold)

    Factor October November December
    1st day Rs.3,040 per gram Rs.2,974 per gram Rs.2,982 per gram
    Last day Rs.2,996 per gram Rs.2,996per gram Rs.3,015 per gram
    Highest price Rs.3,059 per gram on 14 and 15 October Rs.3,030 per gram on 18, 19 and 20 November Rs.3,015 per gram on 30, 31 December
    Lowest price Rs.2,842 per gram on 12 October Rs.2,974 per gram on 1 and 6 November Rs.2,906 per gram on 13 December
    Trend Decline Incline Incline
    Change 1.44% 0.73% 1.10%

    Gold Rate Trend in Cuttack for October 2017:

    • In Odisha’s city, Cuttack, gold started trading at Rs.3,040 per gram when the final quarter of 2017 began.
    • Demand for gold this month remained weak due to various factors and was mainly dominated by a strong US dollar.
    • Gold price in Cuttack hit their lowest point on the 12th when it traded at Rs.2,842 per gram - a massive fall.
    • Prices surged back just as they fell and gold recorded its highest rate for the month on the 14th and the 15th when it traded at Rs.3,059 per gram.
    • From the 16th onwards, gold rate in Cuttack witnessed a dip, which was because of a considerably declined demand from local circles.
    • When the month came to an end, gold was seen trading at Rs.2,996 per gram.
    • Price trends saw a 1.44% decline this month due to weak sales and a strong dollar.

    Gold Rate Trend in Cuttack for November 2017:

    • Gold opened at Rs.2,974 per gram when trading commenced for the month of November. This continued on till the 6th of the month as demand for the metal remained steady.
    • Rates from the 1st to the 6th were also the lowest for the month - which signalled that better days were yet to arrive.
    • Gold price in Cuttack continued to rise as the days progressed and gold traded at Rs.3,030 per gram on the 18th of the month.
    • Days from the 18th to the 20th saw gold trade at their highest for this month as purchases from jewellers was on the rise.
    • The 21st onwards saw gold prices consolidate for the metal to trade at Rs.2,996 per gram. There was a 0.73% incline in prices witnessed this month.

    Gold Rate Trend in Cuttack for December 2017:

    • The final month of Q4 2017 saw gold prices remain largely on the incline. This happened despite the impact the latest tax structure had on the economy.
    • On the 1st of December, gold was priced at Rs.2,982 per gram - a relatively poor price compared to other cities in the country.
    • However, with demand falling amid a late yet strong response to the US President Donald Trump’s latest tax break, gold rates plummeted to Rs.2,906 per gram on the 13th of December.
    • As days progressed, gold prices seemed to be on the incline. This was largely because of a poor US dollar.
    • The yellow metal’s prices were at their highest this month when it was trading at Rs.3,015 per gram over the 30th and the 31st of the month.
    • Gold price trends in Cuttack saw a 1.10% rise, owing to strong sales over the course of the month.

    Gold Rate Trend in Cuttack for July 2017 to September 2017 (per gram of 24 karat gold)

    Factor July August September
    1st day Rs.2,950 per gram Rs.2,931 per gram Rs.2,995 per gram
    Last day Rs.2,920 per gram Rs.2,965 per gram Rs.3,040 per gram
    Highest price Rs.2,950 per gram on 1 and 2 July Rs.2,980 per gram on 29 August Rs.3,100 per gram on 8 September
    Lowest price Rs.2,800 per gram on 14 July Rs.2,900 per gram from 5 to 8 August Rs.2,995 per gram on 1 September
    Trend Decline Incline Incline
    Change -1.01% 1.16% 1.50%

    Gold Rate Trend in Cuttack for July 2017:

    • Gold prices in Cuttack decline for the month of July due to a number of factors.
    • The month began with gold trading at Rs.2,950 per gram - which, as it turned out, was the highest rate for the month.
    • Local gold trading was significantly hampered due to the Indian government’s introduction of 3% GST on gold purchases.
    • Besides weak local demand, a strengthening US dollar also contributed to the weak performance of gold.
    • Demand for the metal went so low that, gold prices in Cuttack reached a monthly low of Rs.2,800 per gram on the 14th of July.
    • But, demand picked up to push gold rates considerably towards the end of the month. When the month ended, gold was trading at Rs.2,920 per gram.
    • Overall, gold rates in Cuttack saw a 1.01% decline due to a significantly subdued demand brought about by the arrival of GST - India’s biggest tax reform to date.

    Gold Rate Trend in Cuttack for August 2017:

    • After gold’s weak performance in July, rates saw a change for the better in the month of August.
    • When this month began, gold was priced at Rs.2,931 per gram but fell over the next few days due to weak demand domestically.
    • Gold rates in Cuttack were at their lowest this month when the metal traded at Rs.2,900 per gram from the 5th to the 8th of August.
    • But, prices for the precious metal surged after the US government’s rhetoric regarding the construction of a wall hit the newsstands
    • Gold rates in Cuttack went up to as high as Rs.2,944 per gram by the 10th and surged again to Rs.2,977 per gram by the 12th of the month.
    • Demand took a hit over the next two week before picking back up towards the business end of the month.
    • On the 29th of August, gold rates in Cuttack reached the highest for the month of Rs.2,980 per gram.
    • There was an overall positive change of 1.16% with regards to gold prices this month.

    Gold Rate Trend in Cuttack for September 2017:

    • Gold witnessed a considerably increased demand this month because of geopolitical concerns as well as steady local demand.
    • When the month began, gold was priced at Rs.2,995 per gram. Prices surged this during the first week by a significant margin as US and North Korea were at loggerheads over the latter’s nuclear ambitions.
    • Gold reached its highest rate for the month on the 8th as it traded at Rs.3,100 per gram. This rapid hike in such a short period of time was due to North Korea’s confirmation of their latest round of nuclear tests.
    • However, the second week and the third week saw gold rates in Cuttack consolidate due to reduced demand and a steadily recovering US dollar.
    • There were significant fluctuations in gold rates over the final two weeks as demand from industries and jewellers remained on the uneven side.
    • The yellow metal’s prices improved over the final week due to the arrival of the festive season.
    • When the month of September came to an end, gold prices in Cuttack were recorded at Rs.3,040 per gram.
    • Gold trading in September remained on the positive, with a change of 1.50% being seen over the course of the month.

    Gold Rate Trend in Cuttack for April 2017 to June 2017 (per gram of 24 karat gold)

    Factor April May June
    1st day Rs.2,956 per gram Rs.2,984 per gram Rs.2,985 per gram
    Last day Rs.2,984 per gram Rs.2,963 per gram Rs.2,967 per gram
    Highest price Rs.3,040 per gram on 15 and 16 April Rs.2,984 per gram on 1 and 30 May Rs.3,030 per gram on 7 June
    Lowest price Rs.2,954 per gram on 8, 9, and 10 April Rs.2,890 per gram on 15 May Rs.2,940 per gram on 20 and 27 June
    Trend Incline Decline Decline
    Change 0.94% -0.70% -0.60%

    Gold rate trend in Cuttack for April 2017

    • Gold began the month of April trading at Rs.2,956 per gram and continued to rise due to favourable market conditions, reaching Rs.2,983 per gram on 5 April.
    • A decline in demand due to a spike in the U.S. dollar rate led to gold prices falling to Rs.2,954 per gram on 9 April.
    • The momentary slide in price was negated the following week as gold prices recovered, trading at Rs.3,031 per gram on 14 April due to an increase in local demand.
    • Demand from Asia and Europe helped sustain gold prices as the U.S. market began to recover from the previous week’s lows, keeping prices stable at Rs.3,021 per gram on 18 April.
    • A dip in price was observed as European markets began to strengthen on the possibility of a victory by Emmanuel Macron, thus strengthening the Eurozone.
    • Gold fell to s.2,998 per gram on 25 April before falling further to end the month at Rs.2,984 per gram on 30 April.
    • In spite of the dip in price towards the end of the month, gold prices rose by 0.94% over the course of the month.

    Gold rate trend in Cuttack for May 2017

    • May began with gold trading at a stable Rs.2,984 per gram on 1 May, though prices fell as the week progressed due to the victory of Emmanuel Macron in the French presidential election, which boosted Eurozone markets.
    • Prices were on the decline due to the continued rally by markets as well as a strong U.S. dollar, which resulted in gold trading at Rs.2,891 per gram on 13 May.
    • Local demand was also lower than expected due to the high import cost but prices rose marginally due to an increase in demand from Asian countries, boosting the price to Rs.2,954 per gram on 20 May.
    • Fluctuations in gold prices were observed towards the end of the month, with the precious metal trading at Rs.2,979 per gram on 23 May before dropping to Rs.2,958 per gram on 26 May.
    • Demand was more or less stable as the month ended, with gold priced at Rs.2,963 per gram on 31 May.
    • Fluctuating demand resulted in the overall price of gold falling by 0.70% over the course of the month.

    Gold rate trend in Cuttack for June 2017

    • Gold was priced at Rs.2,985 per gram on 1 June as U.S. markets were volatile due to the continued allegations of electoral tampering by Russia.
    • Prices rose due to a declining U.S. dollar rate and unstable markets, trading at Rs.3,030 per gram on 7 June as local demand also rose.
    • Demand for gold stabilised as the month progressed and the markets began to strengthen after the sharp fall in the previous week.
    • The G20 summit boosted market performance across the globe, which led to a decline in demand for gold as evidenced by the drop in price to Rs.2,940 per gram on 20 June.
    • Prices recovered marginally over the next few weeks, though demand was sluggish due to a reduction in demand from industry.
    • Gold reached Rs.2,977 per gram on 26 June before ending the month at Rs.2,967 per gram on 30 June.
    • Gold prices fell by 0.60% over the course of the month.

    Gold Rate Trend in Cuttack for January 2017 to March 2017 (per gram of 24 karat gold)

    Factor January February March
    1st day Rs.2,821 per gram Rs.2,965 per gram Rs.2,990 per gram
    Last day Rs.2,954 per gram Rs.3,003 per gram Rs.2,940 per gram
    Highest price Rs.2,978 per gram on 23rd January Rs.3,014 per gram on 25th and 26th February Rs.2,994 per gram on 2nd March
    Lowest price Rs.2,821 per gram on 1st January Rs.2,944 per gram on 4th and 5th of February Rs.2,900 per gram on 15th March
    Trend Incline Incline Decline
    Change 4.71% 1.28% -1.67%

    Gold Rate Trend in Cuttack for January 2017:

    • When trading began for January in Cuttack, gold was trading at Rs.2,821 per gram, which seemed to increase over the next few days.
    • Consequently, prices on the 1st were the lowest for the entire month.
    • Despite a massive slowdown in the previous quarter, gold prices seemed to increase during this month as there was more cash available in the system.
    • Gold hit the highest for the month on 23rd when prices went up to Rs.2,978 per gram.
    • Gold price trends saw a significant incline of 4.71% for the month of January.

    Gold Rate Trend in Cuttack for February 2017:

    • February too followed the positive trend set forth by January with regards to gold rates.
    • On the 1st of January, gold was trading at Rs.2,965 per gram - a rate which went up during the subsequent days.
    • Most of the rise in gold prices could be attributed to more cash being in the system as well as some controversial decisions taken by US President Donald Trump.
    • Gold prices reached their highest during the 25th and 26th, when the metal was trading at Rs.3,014 per gram.
    • On the last day of the month, gold was priced at Rs.3,003 per gram.
    • Though there was an incline in price trends, the extent of the drop was still visible for all to see.
    • The month saw gold price trends go up by 1.28%.

    Gold Rate Trend in Cuttack for March 2017:

    • March, compared to the previous two months, was a bad period for gold prices.
    • Rates mostly came down during the month due to the US Federal Reserve rate hike, which increased the value of USD in the market.
    • As interest rates came up, gold prices came down because bullion is usually traded in dollars.
    • When March began, gold was trading at Rs.2,990 per gram, which then seemed to ebb and flow over the course of the month.
    • Gold had its most productive periods in the first week, during which the highest rate for the month was reached - Rs.2,994 per gram.
    • Prices seemed to be vulnerable during the 15th, when gold rates went down to as low as Rs.2,900 per gram.
    • March saw gold price trends decline by 1.67%.
    • Overall, gold price trends inclined at an average of 1.44% during the first quarter of 2017.
    Factor October November December
    1st day Rs.3,152 per gram Rs.3,065 per gram Rs.2,893 per gram
    Last day Rs.3,067 per gram Rs.2,942 per gram Rs.2,821 per gram
    Highest price Rs.3,152 per gram on 1st October and 2nd October Rs.3,166 per gram on 9th November Rs.2,893 per gram on 5th and 6th December
    Lowest price Rs.3,021 per gram on 15th October and 16th October Rs.2,914 per gram on 25th November Rs.2,767 per gram on 26th December
    Trend Decline Decline Decline
    Change -2.69% -4.01% -2.48%

    Gold Rate Trend for Cuttack in October 2016

    • Gold opened at Rs.3,152 per gram in Cuttack, with prices remaining constant until the 2nd due to sustained demand. This was also the highest rate at which gold traded in October. There was a slight decline noted in the price of gold over the next few days.
    • Gold was priced at Rs.3,040 per gram for 24 karat gold on the 6th of October and declined steadily as the weeks progressed. On the 15th of October, rate of gold plunged to Rs.3,021 per gram and was the same on the 16th as well. This was the lowest rate at which gold traded at for the month of October.
    • A slight recovery was noticed in the price of gold as the month progressed, but was relatively low, as compared to the beginning of the month.
    • However, despite the stability in prices, there was a decline of 2.69% noted in the price of gold at the end of October.

    Gold Rate Trend for Cuttack in November 2016

    • In November, the rate of gold was relatively high, as compared due to an increase in demand as it was a continuation of the wedding season in India. Gold rate was quite high during the beginning of the month where the price was Rs.3,065 per gram. However, prices increased from the 2nd of November due to a high demand for gold in both overseas and domestic markets.
    • The rate of gold was Rs.3,101 per gram on 2nd November and Rs.3,115 per gram on 3rd November. On the 4th of November, rate of gold fell down to Rs.3,109 per gram.
    • On the November 5th, the rate of gold shot up to Rs.3,119 per gram and stayed steady at this the next day as well. This rate was not sustained and decreased over the next couple of days before shooting up to Rs.3166 per gram on the 9th of December which was the highest for the month of November.
    • On November 8th, Prime Minister Narendra Modi announced the ban of notes worth Rs.500 and Rs.1,000 in order to combat corruption. This rule was termed as demonetization. Due to the severe cash crunch that followed in the wake of this announcement, fluctuations were noted in the rate of gold.
    • The price of gold continued to decline steadily throughout November with some fluctuations here and there.
    • From the 20th of November, gold was priced at Rs.2,986 per gram. Gold traded at Rs.2,914 per gram on the 25th of November and this was the lowest rate at which gold traded at for the month.
    • Towards the end of November, the price of gold fluctuated before closing at Rs.2,942 per gram.. A number of factors contributed to a decline of 4.01% in the price of gold.

    Gold Rate Trend for Cuttack in December 2016

    • On the 1st of December, the rate of gold was Rs.2,893 per gram. Gold rate increased by Rs.2 the next day but decreased steadily thereafter over the following days.
    • However, the gold increased to Rs.2,893 per gram on the 5th of December and 6th of December which was also the highest rate at which gold traded at for the month.
    • Price of gold reduced thereafter and varied between Rs.2,864 to Rs.2,834 and finally declining to Rs.2,803 per gram in the 15th of December.
    • The rate of gold continued declined with a few minor fluctuations. This could be attributed to reduced demand for gold both overseas and in India.
    • On the last day of December, the price of gold was Rs.2,821 per gram. A decline of 2.48% was recorded over with respect to gold rate.
    Factor July August September
    1st day Rs.3,127.50 per gram Rs.3,215 per gram Rs.3,132 per gram
    Last day Rs.3,214 per gram Rs.3,148 per gram Rs.3,169 per gram
    Highest price Rs.3,214 per gram on 30th and 31st July Rs.3,224 per gram on 3rd August Rs.3,195 on 8th September
    Lowest price Rs.3,127.50 per gram on 1st July Rs.3,148 per gram on 31st August Rs.3,132 on 1st September
    Trend Incline Decline Incline
    Change +2.77% -2.08% +1.18%

    Gold Rate Trend of Cuttack in July 2016

    • The trend for this month was an incline of 2.77% in gold prices as positive trends filled the global market.
    • Gold traded at Rs.3,127.50 on 1st July and prices started climbing.
    • As the dust from the Brexit vote settled, expectations of monetary stimulus from the central banks grew strong.
    • On 30th and 31st July, gold prices reached their highest for the month, trading at Rs.3,214 per gram.

    Gold Rate Trend of Cuttack in August 2016

    • Initially, gold prices performed well, but towards the second half of the month, prices fell on account of low demand.
    • Gold traded at Rs.3,215 per gram on 1st August.
    • The price of gold climbed to Rs.3,249 per gram on 3rd August, the highest for this month.
    • The outlook of the global market turned bearish as prospects of an interest rate hike by the U.S. Federal Reserve grew strong.
    • The fall in demand resulted in a decline of 2.08% in gold prices this month.

    Gold Rate Trend of Cuttack in September 2016

    • Gold traded at Rs.3,132 per gram on 1st September.
    • Gold prices rose to Rs.3,195 on 8th September, the highest price for this month.
    • Market sentiments turned bullish when the U.S. Federal Reserve postponed the rate hike to December as the U.S. presidential elections were drawing near.
    • Demand for gold climbed quickly and gold traded at Rs.3,169 per gram on 30th September.
    • There was an increase of 1.18% in gold prices this month.
    Factor April May June
    1st day Rs. 2,894 per gram Rs. 3,069 per gram Rs.2,934 per gram
    Last day Rs. 3,069 per gram Rs. 2,916 per gram on 31st of May Rs.3,103 per gram
    Highest price Rs.3,069 per gram on the 30th of April Rs. 3,073 per gram on 7th and 8th of May Rs.3,180 per gram on 27th June
    Lowest price Rs. 2,876 per gram on 4th of April Rs. 2,900 per gram on the 30th of May Rs.2,911 per gram on 3rd June
    Trend Rising Decline Rising
    Change +5.52% -4.31% +10.09%

    Gold Rate Trend of Cuttack in April 2016

    • Gold traded at Rs. 2,894 per gram on the 1st of April.
    • Gold rate fluctuated a lot in April but still managed to rise to Rs. 3,069 per gram by the end of the month.

    Gold Rate Trend of Cuttack in May 2016

    • Expectations of a rate hike by the U.S. Federal Reserve pushed down gold prices as gold stood at Rs. 3,051 in the second week of May.
    • Rising dollar further led to the decline of gold in May as gold traded at Rs. 2,916 on the 31st of May.

    Gold Rate Trend of Cuttack in June 2016

    • Gold prices increased steadily during the month of June thanks to firming international trends.
    • Although there were days on which gold prices suffered marginal losses, they were overwritten by subsequent gains and the highest rate of gold in the month of June was recorded on the 27th when prices hit Rs.3,180.
    • The overall increase in prices between the first day and last day of June was Rs.264.
    Factor January February March
    1st day Rs. 2,541 per gram Rs. 2,714 per gram Rs. 2,994 per gram
    Last day Rs. 2,710 per gram Rs. 2,964 per gram Rs. 2,883 per gram
    Highest price Rs. 2,727 per gram on January 27th Rs. 2,987 per gram on 26th of February Rs. 2,994 per gram on 1st and 2nd of March
    Lowest price Rs. 2,538 per gram on 2nd and 3rd of January Rs. 2,714 per gram on 1st of February Rs. 2,871 per gram on March 31st
    Trend Rising Rising Decline
    Change +6.68% +10.55% -2.57%

    Gold Rate Trend of Cuttack in January 2016

    • Gold held steady at Rs. 2,541 on 1st of January.
    • Gold witnessed a steady rise from the 6th of January owing to global demand.
    • Gold hit its highest for the month on 27th January at Rs. 2,727 per gram.

    Gold Rate Trend of Cuttack in February 2016

    • Gold stood at Rs. 2,714 per gram on the 1st of February.
    • There was a steady rise in gold rate in February and gold hits its peak for the month on 26th of February at Rs. 2,987 per gram.

    Gold Rate Trend of Cuttack in March 2016

    • There was a rise in gold rate from 29th of February as gold held steady at Rs. 2,994 per gram on 1st of March.
    • Low demand led to a further decline as gold was at its lowest for the month at Rs. 2,871 on 28th of March.

    Gold rate in Cuttack

    The gold rate in Cuttack varies according to the purity of gold, with 24 karat gold being the most expensive. 22k, 18k, 14 karat gold have different levels of impurity and are thereby cheaper.

    24 karat gold – 24k gold is 99.9% pure, making it an ideal investment option for gold lovers. This purity of gold is not suited to make jewellery or ornaments and is therefore less popular among the masses. Investing in 10 grams of 24 karat gold in the city would set you back by Rs 29,950 (as of March 9, 2016). The price of 24 karat gold in Cuttack has closely followed international trends over the last year, with 2015 providing an excellent opportunity to own this precious metal at low costs. Prices fell in July, August and December before increasing in 2016. According to estimates one can expect further fluctuation in rates in the future.

    22 karat gold – 22 karat gold is mixed with certain impurities, with it typically being around 92% pure, making it ideal to make ornaments. Less purity means lesser rates, with 10 grams costing around Rs 27,990 in the city. The cost of 22 karat gold mimicked the trends witnessed for 24 karat gold, with prices dropping for most of 2015 before steadily picking up since January 2016.

    Gold investment avenues in Cuttack

    Gold is a key component in the Indian way of life, with people considering it auspicious. Most Indian celebrations are incomplete without gold, with gold sales peaking during festivals and weddings. Today, gold is also viewed as an excellent investment option, providing a safety net against market fluctuations, making it popular among the residents here.

    Market trade – New technology has made it possible for people to purchase gold from the comfort of their homes, with E-gold, futures contracts and ETFs providing an avenue to trade in it. Trading in gold comes with an element of risk and individuals should consider it before investing. One can participate in E-gold trade through the National Spot Exchange while gold ETFs can be traded on the Mumbai Stock Exchange.

    Over-the-counter – Over-the-counter purchase of gold remains the most popular form of buying gold, with banks and jewellers across the city offering a number of products for every budget. Gold coins, bars and jewellery are some of the popular means of purchasing gold, with bars and coins typically purchased only as an investment. Gold jewellery can be purchased for different purposes and can be resold, offering liquidity. Well known national jewellery brands have a presence in the city and combined with local jewellers, they provide a plethora of products at different rates. Typically, gold purchased from banks can cost more on account of purity certificates.

    Also Check Gold Price in NearBy Cities of Cuttack

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    Read more on Gold

    News About Gold Rate in Cuttack

    • Gold Rises as Likelihood of Fed Rate Hike Declines

      Gold reached a 3-week high as the possibility of an interest rate hike by the U.S. Federal Reserve looks remote.

      Gold climbed by 1% on Wednesday (8th June, 2016), with spot gold trading at $1,263.81 per ounce while U.S. gold climbed by 1.2% to trade at $1,262.30 per ounce.

      The declining Dollar also contributed to gold prices rising, with the currency falling to a 5 week low against global currencies as speculation of the rate hike being deferred to July spread.

      Market watchers predict gold could rise by up to $20 an ounce over the course of the month if market conditions are favourable, but say this will do little to raise demand for the precious metal.

      Gold reserves in China did not reflect any change but the country’s central bank indicated China would continue purchases in an effort to expand its reserves of forex.

      Demand for gold jewellery continued to be strong in the top three markets, viz. China, India and the U.S.

      9 June 2016

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