Gold Rate In Delhi Today

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Gold Price in Delhi

Delhi, the national capital, is also one of the largest consumers of gold in the country. All throughout the history of Delhi, gold has been a stable commodity used as jewelries, minted as coins, and also sold as pure gold bars and other forms. Gold rate in Delhi are influenced by various factors that have global implications. The city currently has a large buyer base for gold and related products, with consumers mostly opting for physical gold followed by trading exchanges.

Other than physical gold, consumers can also opt for gold as a commodity, which is traded in various commodity exchanges such as National Spot Exchange (NSEL), National Commodity and Derivatives Exchange (NCDEX) and Multi Commodity Exchange (MCX). The exchanges offer gold as spot contracts where you can buy gold at the spot and get it delivered at the earliest, and also as futures contract, where gold is purchased and sold at a later date, albeit on current prices.

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

January 2019 - Week 1(01 - 05):

• Due to geopolitical tensions and the value of the dollar decreasing in the market, gold prices saw a positive trend in the first week of the month, year and decade. Opening on 1 January at Rs.3,995 per gram, the price of the metal was steady compared to last month’s closing.
• The price of the metal increased to Rs.4,011 per gram on 2 January amidst a soft dollar which increased the value of the rupee. Due to this, the value of the metal increased as well in the market. On 3 January, the price of the metal fell marginally to Rs.4,001 per gram.
• However, on 4 January, gold prices showed a rise in prices again due to the escalating tensions between the United States of America and Iran due to the drone strike by the former. On 5 January, the price of the metal was Rs.4,111 per gram and closed the week at the same.

January 2019 - Week 2(06 - 12):

• As tensions between the United States of America and Iran increased, the price of gold saw a fluctuating trend in the second week of the month. Opening the week at Rs.4,111 per gram without any change from last week’s closing, gold prices increased Rs.4,179 per gram as investors awaited on President Trump’s reaction to Iran’s strike on the United States Military facility.
• As speculations persisted, the price of the metal dipped marginally to Rs.4,121 per gram on 8 January as the market awaited on further developments. However, the price of the metal, despite weak global trends hit its monthly high on 9 January at Rs.4,211 per gram in the capital.
• However, in the second half of the week, the price of the metal began to fall. As President Trump decided not to escalate the tensions further, investors shifted back to the markets for their investments. The demand for gold dipped in the global market and closed the week at Rs.4,095 per gram.

January 2019 - Week 3(13 - 19):

• A number of factors resulted in the constant fluctuations in gold prices in the nation’s capital, New Delhi. The metal opened the third week of the month at Rs.4,095 per gram on 13 January. The price of the metal slipped marginally to Rs.4,074 per gram on 14 January as investors awaited on the signing of the interim trade deal between the United States of America and China. The investors shifted to the stock market with an increased risk appetite, shifting the focus away from the bullion.
• The price of the metal dipped to its weekly low on 15 January as the two countries sign the much-awaited Phase 1 trade deal. Gold prices on the day were Rs.4,037 per gram. However, prices increased marginally to Rs.4,064 per gram on 16 January as investors speculated the further developments on the trade deal regarding many unresolved issues such as tariffs on Chinese goods.
• For the rest of the week, gold prices held steady amidst geopolitical factors such as the drone strike in Yemen which resulted in the death of more than 100 soldiers. Apart from that, strong economic data in the United States also kept gold prices at bay. At the end of the week, the metal closed at Rs.4,064 per gram.

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

December 2019 - Week 1 (1 – 8):

• Gold prices in Delhi witnessed a declining trend in the first week of December. The rates opened the week at Rs.3,906 per gram.
• The rates declined in the first four day of the week as there were flipping reports on the US – China trade deal. However, with the US president stating that the talks were going in the right direction, the rates jumped to Rs.3,927 per gram on 5 December.
• Gold closed the week at Rs.3,875 per gram in the national capital. This was the lowest recorded price for the fuel in the first week.

December 2019 - Week 2 (9 - 15):

• In Delhi, gold opened the second week of December at Rs.3,875 per gram. Compared to the previous week’s closing price, the rates of the yellow metal didn’t see any change.
• Gold prices climbed on 13 December as the metal’s safe-haven appeal was boosted due to the political uncertainties in the world’s biggest economy. Gold was at its highest level for the week with every gram costing Rs.3,869.
• The rates of gold closed the second week at Rs.3,885 per gram in Delhi. The overall performance of the precious metal in the national capital was trending downwards.

December 2019 - Week 3 (16 - 22):

• In Delhi, gold was priced at Rs.3,885 per gram opening the third week of the month at an unchanged price compared to last week’s closing. In this week, gold prices saw a marginal increase due to various global factors which included trade tensions between the United States of America and China.
• After dipping marginally on 17 December by Rs.10 per gram, gold prices increased to Rs.3,896 per gram on 19 December as the United States House of Representatives voted to impeach President Trump on the charges of abuse of power and obstruction.
• The price of the metal fluctuated through the rest of the week and closed at Rs.3,901 per gram as investors awaited further clarity on the trade deal between the two economic superpowers.

December 2019 - Week 4 (23 - 29):

• In Delhi, gold was priced at Rs.3,885 per gram opening the third week of the month at an unchanged price compared to last week’s closing. In this week, gold prices saw a marginal increase due to various global factors which included trade tensions between the United States of America and China.
• After dipping marginally on 17 December by Rs.10 per gram, gold prices increased to Rs.3,896 per gram on 19 December as the United States House of Representatives voted to impeach President Trump on the charges of abuse of power and obstruction.
• The price of the metal fluctuated through the rest of the week and closed at Rs.3,901 per gram as investors awaited further clarity on the trade deal between the two economic superpowers.

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

November 2019- Week 1 (01-03):

• The price of gold in Delhi saw an upward trend opened the month at Rs.3,938 per gram as factory data in China showed positive signs which resulted in investors shifted to the market.
• On 2 November, the price of the precious metal remained steady at Rs.3,938 per gram due to positive signs in the United States’ job data. The applications for unemployment benefits in the United States showed a considerable increase.
• However, on 3 November, the price of the metal increased to hit its weekly high at Rs.3,974 per gram due to increased local demand.

November 2019- Week 2 (04-08):

• After opening the month at Rs.3,938 per gram, gold prices in Delhi showed a declining trend in the second week of October. The price of the metal increased to Rs.3,974 per gram on 4 November due to a weak U.S. dollar value in the market.
• However, on 5 November, gold prices decreased to Rs.3,969 per gram and further decreased to Rs.3,964 per gram on 6 November due to renewed trade deal optimism between China and the United States of America.
• As risk appetite increased based on the positive cues of the trade talks, investors shifted to the market with their investments. Gold prices decreased further on 7 November to hit the monthly low at Rs.3,922 per gram, closing the week at the same price.

November 2019- Week 3 (09-17):

• In Delhi, gold opened the third week of November at Rs.3,896 per gram. Compared to the previous week’s closing price, the rates of the precious metal dropped by Rs.26 per gram.
• Due to positive development in the trade talks between Washington and Beijing, the rates of gold plummeted to Rs.3,885 per gram on 12 November.
• With investors shifting to the bullion as a safe-haven asset while waiting for a formal announcement regarding a trade deal, the prices recovered slightly in the next couple of days. Every gram of gold cost Rs.3,927 on 15 November before declining again and closing the week at Rs.3,906 per gram.

November 2019- Week 4 (18 - 24):

• Gold prices in the National Capital Region of Delhi showed a fluctuating trend in the fourth week of November, opening at Rs.3,906 per gram on 18 November. On 19 November, the price of the metal dipped significantly to Rs.3,896 per gram due to low local trends amidst positive global trends.
• On 20 November, the price of the metal increased to Rs.3,922 per gram as investors awaited on developments in the Sino-U.S. trade deal. The trade deal was hampered due to the impeachment inquiry on President Donald Trump and the U.S. Senate passing legislation supporting protestors in Hong Kong.
• However, as China invited officials from the United States of America for a face-to-face sit down for a round of fresh round to reach a deal, the price of gold eased marginally. Apart from this, positive U.S. jobs data also contributed to the declining trend of the metal. Gold closed the week at Rs.3,901 per gram.

November 2019 - Week 5 (25 – 30):

• Gold prices in Delhi witnessed a declining trend in the fifth week of November. The rates opened the week at Rs.3,901 per gram and declined to Rs.3,875 per gram on 27 November.
• The decline in the prices of gold was accounted to traders waiting for further developments regarding the trade deal between Washington and Beijing.
• Ongoing protest in Hong Kong also played a part in the declining trend of the yellow metal in the national capital. The rates closed the week at Rs.3,869 per gram, which was the lowest recorded price for the metal in the month of November.

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

October 2019- Week 1 (1-6):

• Weak overseas trends and sluggish retail sales saw gold price in Delhi open at Rs.3,864 per gram before dropping to Rs.3,801 per gram on 2 October.
• News of fresh U.S. tariffs on EU goods dented equities as investors switched to bullion, resulting in gold rate in Delhi rising to Rs.3,901 per gram on 4 October.
• Weaker than expected U.S. jobs data and renewed uncertainty over Middle East tensions increased bullion’s safe-haven appeal, as the gold rate rose to Rs.3,911 per gram on 6 October.

October 2019- Week 2 (7-13):

• Opening the month at Rs.3,864 per gram, gold price in Delhi, compared to the first week of the month, proved to be beneficial for investors in the second week being priced at Rs.3,911 per gram on 7 October in New Delhi.
• The gold rate in Delhi hit weekly highs on 10 and 11 October at Rs.3,932 per gram as trade tensions grew amidst an increased local demand and rise in tensions in the Middle East.
• However, due to Brexit worries and easing of trade tensions between the United States of America and China, the price of the yellow metal decreased marginally, closing the week at Rs.3,906 per gram.

October 2019- Week 3 (14-20):

• In Delhi, after the positive signs in the third week of the month, the price of gold opened the week on 14 October at Rs.3,906 per gram and showed continued positive signs for the third week of the month as well.
• The price of the metal remained steady for 3 days until 15 October due to the trade talks between the United States of America and China were tempered ahead of a meeting between the European Union and Great Britain.
• On 16 October, gold prices hit its weekly high and remained steady until 18 October due to concerns over global growth and Great Britain shying out of a deal with the EU over Brexit. However, the price of the precious metal increased and closed at Rs.3,932 per gram on 20 October.

October 2019- Week 4 (21-27):

• In Delhi, the price of gold opened week 4 of October at Rs.3,932 per gram and dipped for the next couple of days due to investors eagerly waiting on cues on Brexit and the trade talks between the United States of America and China.
• After being priced at Rs.3,927 per gram on 24 October and 25 October due to markets waiting for the meeting of the United States Federal Reserve, the price of gold gained marginally to Rs.3,953 per gram on 26 October.
• Due to poor markets, the Federal Reserve hinted another rate cut, resulting in investors shifting to the bullion as safe have pushing gold to hit its 2-week high at Rs.3,953 per gram on 26 October and 27 October, closing the week at the same price.

October 2019- Week 5 (28-31):

• In the capital, gold prices opened on 28 October at Rs.3,953 per gram after holding steady on 26 October and 27 October amidst positive cues on the trade talks and a strong dollar. The price of the metal remained the same on 29 October as well.
• However, on 30 October the price of gold dipped to Rs.3,917 per gram even amongst positive global trends due to decreased local demand marking the end of the festive season. The trade talks faltered, and investors eagerly awaited on the rate cut by the Federal Reserve.
• Gold prices recovered marginally on 31 October at Rs.3,927 per gram as the dollar weakened further and the Federal Reserve announced the rate cuts of 25 bps. Gold closed the week and month at Rs.3,927 per gram.

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

September 2019- Week 1 (1-8):

• Steady local and overseas demand saw gold rate in Delhi open higher at Rs.3,959 per gram, with prices continuing to climb to Rs.3,990 per gram on 4 September.
• Renewed trade tensions with China dented U.S. equities and increased bullion’s safe-haven appeal, as gold price in Delhi surged to Rs.4,037 per gram on 5 September though a steady dollar capped gains.
• Gold price dropped as equities recovered on increased investor risk appetite, denting bullion demand as the yellow metal ended the week lower at Rs.3,938 per gram.

September 2019- Week 2 (9-15):

• After a month of rising prices, gold rate in Delhi reflected a global downturn in bullion demand, opening at Rs.3,938 per gram before falling to Rs.3,906 per gram on 11 September.
• Weak overseas offtake due to increased risk appetite bolstered equity demand as bullion took a backseat, with the gold rate dropping to Rs.3,880 per gram on 13 September.
• Positive data on U.S. Treasury bonds and upcoming U.S.-China trade talks further boosted equities and the dollar as gold price fell to Rs.3,843 per gram on 15 September.

September 2019- Week 3 (16-22):

• After a month of rising prices, gold rate in Delhi reflected a global downturn in bullion demand, gold rate opening at Rs.3,843 per gram before rising to Rs.3,885 per gram on 17 September.
• Weak overseas offtake due to increased risk appetite bolstered equity demand as bullion took a backseat, with the gold dropping to Rs.3,838 per gram on 20 September.
• Positive data on U.S. Treasury bonds and upcoming U.S.-China trade talks further boosted equities and the dollar as gold fell to Rs.3,875 per gram on 22 September.

September 2019- Week 4 (23-30):

• Despite opening unchanged at Rs.3,948 per gram on 26 September, gold price in Delhi shot up to Rs.4,011 per gram on 27 September on rising economic uncertainty and favourable market cues.
• Prices plunged to Rs.3,980 per gram on 28 September as retail demand failed to keep pace, though steady industrial orders kept prices from falling too sharply.
• Investor interest remained strong but a recovering dollar rate capped gains as the metal rose to Rs.3,990 per gram on 29 September before dropping to Rs.3,880 per gram on 30 September on fluctuations in demand.

Also Check Gold Price in Metro Cities

Gold as an Investment in Delhi

Gold investments are available for consumers in forms as discussed above which are primarily as physical gold or as gold contracts. While physical gold in Delhi sells mostly in the form of jewelry and ornaments, gold bullions and coins are also quite popular with the residents of the city.

Physical gold: Gold jewelry is the choice item for people in Delhi. The city has a large number of dealers specializing in gold jewelry and ornaments. Some of the largest gold dealers in the country are based out of Delhi. Gold coins can also be purchased from various banks and private institutions in the city.

Gold contracts: Gold contracts can be purchased from any of the commodity exchanges operating in India. The contracts are available in differing quantities of gold such as 8 grams, 10 grams, 100 grams or kilos. The contracts can also be purchased for gold of varying purities such as 995 purity and 999 purity.

Gold is generally sold in units such as grams, sovereign, kilograms, tonnes, troy ounces, metric tonnes etc. The base price of gold is generally calculated for either 1 gram of gold or 10 grams of gold.

What’s the rate of gold in Delhi like when compared to other cities?

Gold prices often differ in Delhi when compared to other states and cities in the country because of a number of internal and external factors. Some of the factors for this apparent difference are as follows:

• A number of taxes that are applicable only in the city.
• Cost of transportation in and around the city.
• Making charges.
• Octroi charges, which is basically a charge levied on a variety of goods entering the city, in this instance, gold.

Importing gold into Delhi

Importing gold can’t be done by everyone and is only possible for a number of designated importers such as banks, who sell it to various dealers at a margin in order to recoup the money they have spent. These dealers, in turn, sell the gold to retail outlets (goldsmiths), who basically fix a rate depending on the work they have had to carry out.

Storing Gold in Delhi

The issue of storing gold a few years earlier would have been a problematic thing as crime rates seemed to be high. So, a vast majority of people would choose to keep it in their own locker or in that of a bank. But as times have changed, so have the options for storing gold. For instance, there are plenty of private locker facilities in and around the country, which come with high-tech security features to prevent break-ins from happening. These lockers can be hired by people provided that they pay a subscription charge for a time period as specified by the storage facility.

Is investing in Gold profitable?

While it is a popularly held belief that gold investments are often profitable, things aren’t so clear-cut when you consider the returns. When you buy or sell gold, you will also be required to pay taxes. For instance, buyers have to pay sales tax, service tax and the like while the sellers have to pay capital gains tax. Keeping them into account, gold investments for the short term will result in losses than profits. Especially, in the current scenario where gold prices aren’t climbing by much, gold investments just for the sake of getting good returns would be a bad idea.

However, if you are tempted to buy gold, make sure to do so when the metal is selling at its lowest and sell it when there’s more demand, so as to get positive returns.

Also Check Gold Price in NearBy Cities of Delhi

Purchasing Gold in Delhi

Gold can be purchased in Delhi in various retail outlets like jewellery stores and the like all around the city.Before buying, however, you should compare rates from multiple outlets and also their making charges so that you get the best deal possible.

Tracking Gold rates in Delhi

There are plenty of ways to track gold rates in Delhi. For instance, you can do so with a broking account, wherein you can track gold future, which gives a clear indication of the path the metal is going to take.Another way to track rates would be through the Multi Commodity Exchange (MCX). If you want simple updates on all things gold, you can check bankbazaar.com’s updates, which are updated on a daily basis.

Factors that influence Gold prices in Delhi

There are a number of factors which influence the way gold is priced in the capital city. These may range from small domestic concerns to important international events. Some of the factors are as follows:

• US Federal Reserve: As gold is traded in dollars, any change to the actual value of the currency will bring about a change in gold prices. For instance, if the Federal Reserve decides to hike its interest rate even by the slightest of margins, gold prices will go up significantly. Basically, any positive or negative development with regards to the US dollar will influence how gold is priced around the world. Central banks from other key countries also play a part in gold prices, however with some of them opting for quantitative easing, chances of a major impact is relatively smaller.
• Geopolitical concerns: Gold has been lauded as a safe haven by million of investors around the world and rightly so, because people tend to invest in the metal whenever the market turns exceedingly volatile. The reason why markets fluctuate is largely due to geopolitical issues, like for instance, the US attack on Syria. As market thrives on volatility, demand for gold surges when such events occur. Another classic example is of the Lehman Brothers crash, which decimated the world economy in a short span of time. When the crash happened back in 2008, gold price was the first thing that hiked, as compared to other commodities,
• Local factors: Factors like transportation of gold in and around the city will also determine how gold likely to be priced.

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Read more on Gold

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