*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 Delhi in February 2018||Gold Price in Delhi in January 2018||Gold price in Delhi in December 2017|
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 rates 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 February 2018 (rates per gram for 24 karat gold)
February 2018 - Week 1 (1st - 4th)
- The bullion trade in Delhi opened with gold priced at Rs.3,077 per gram on the 1st with steady demand from local jewellers, retailers and industries.
- Despite the well performing US dollar and rising equities, gold rate in Delhi remained unchanged throughout the week.
- Gold price in Delhi remained unchanged at Rs.3,077 per gram on the 2nd and 3rd with stable domestic demand for the precious metal.
- The rising dollar rates didn’t seem to have any effect on the demand in Delhi. The bullion was trading steady at Rs.3,077 per gram on the 4th when the week ended.
February 2018 - Week 2 (5th -11th)
- Gold rate in Delhi declined gradually from most part of the week due to poor local demand.
- When the week began, gold was priced at a respectable Rs.3,082 per gram. But, as domestic demand was weak, gold prices went down to Rs.3,066 per gram the next day.
- Over the 7th and the 8th of February, gold traded at Rs.3,066 per gram as a weak dollar had a bullish effect on trading.
- The 9th saw gold price in Delhi drop to Rs.3,035 per gram as a strong dollar influenced the sentiments of local investors.
- The 10th witnessed a surge in local demand, which led to a Rs.15 increase in prices and the metal traded at RS.3,050 per gram.
- WIth the demand continuing to remain steady, gold rates rose again on the 11th and gold was seen selling at Rs.3,056 per gram on the final day of the week.
Trend of Gold Rate in Delhi for January 2018 (rates per gram for 24 karat gold)
|Parameters||Gold price (24 karat)|
|Gold Rate on 1st January 2018||Rs.3,010 per gram|
|Gold Rate on 31st January 2018||Rs.3,066 per gram|
|Highest Rate in January||Rs.3,115 per gram on 15, 16, 20 and 21 January|
|Lowest Rate in January||Rs.3,010 per gram 1 and 2 January|
|Overall Monthly Performance||Incline|
January 2018 - Week 1 (1st - 7th)
- The national capital saw gold rate in Delhi start on a subdued note due to poor initial demand.
- When the new year began, the yellow metal was priced at Rs.3,010 per gram. Due to very little fluctuation in the local market, gold rate in Delhi continued at Rs.3,010 per gram on the 2nd of the month.
- As gold hit near four-month highs amid a poor dollar, prices went up to Rs.3,045 per gram on the 3rd of January. Various reports doing the rounds suggested that “today’s gold rate” was affected by gold trading in the $1,310 per ounce range, the highest since September 2017.
- After news of the payrolls data in the US broke out, the bullion market eased a little. This was why gold rates fell to RS.3,030 per gram on the the 4th.
- But, as markets concluded that the data showed some below par performance, gold rates went back up to Rs.3,045 per gram on the 5th.
- This then surged to Rs.3,050 per gram on the 6th and continued on till the end of the week.
January 2018 - Week 2 (8th - 14th)
- The week began with gold being priced relatively lower at Rs.3,045 per gram due to a decline in demand from local jewellers, retailers and industries from the previous week.
- The 9th, however, saw gold prices recovering to Rs.3,051 per gram after the US dollar lost its ground against a basket of other major emerging currencies.
- Though gold rate in Delhi plunged to Rs.3,041 per gram on the 10th amid poor domestic demand, prices rebounded to Rs.3,061 per gram the next day after equity markets weakened following the slump in the US dollar.
- Strong global trends coupled with an increased local demand for the metal led to gold price in Delhi surging to Rs.3,078 per gram on the 12th.
- The 13th recorded gold trade in Delhi hitting their highest since September at Rs.3,099 per gram after the continued poor performance of the dollar led to a decline in equities market.
- A positive trend overseas coupled with strong demand resulted in the week concluding with gold holding steady at Rs.3,099 per gram on the 14th.
January 2018 - Week 3 (15th - 21st)
- When trading began for the week in Delhi, gold was priced at Rs.3,099 per gram.
- As the global market began to see increased sales, gold rate in Delhi surged for the metal to trade at Rs.3,115 per gram on the 16th of January.
- The yellow metal’s rates continued to remain at Rs.3,115 per gram on the 17th as well before an improvement in the dollar index caused bullion demand to subside.
- On the 18th and the 19th, gold traded at Rs.3,095 per gram as a rising dollar was assisted by positive returns from the treasury yields.
- However, this low demand couldn’t be sustained for long as news about a government shutdown cause gold rates to rise significantly the next day.
- Gold price in Delhi surged by Rs.20 for the metal to trade at Rs.3,115 per gram over the final two days of the week.
January 2018 - Week 4 (22nd - 28th)
- Gold rate in Delhi bore witness to marginal increase over the first two days but surged massively as an underperforming dollar pushed rates up.
- On the 22nd of Delhi, gold was priced at Rs.3,056 per gram. As demand from local circles increased amid a weak dollar, gold prices surged to Rs.3,066 per gram the next day.
- A strong overseas demand coupled with a significant rise in local purchases pushed gold rate in Delhi up to Rs.3,108 per gram on the 24th of January.
- The reason behind this sudden rise was the underperforming US dollar and a rapidly increasing international sales.
- However, demand for the metal slowed down in Delhi, which caused gold price to hold at Rs.3,108 per gram for the remainder of the week, i.e., from the 26th to the 28th of the month.
January 2018 - Week 5 (29th - 31st)
- The final week of trading in Delhi for the month opened with gold rates declining to Rs.3,077 per gram on the 29th with the US dollar regaining lost ground and strengthening equities.
- On the 30th, gold rate in Delhi plunged to Rs.3,066 per gram with the US dollar edging higher amid the rising US bond yields.
- Steady local demand despite the poor trend overseas led to gold prices remaining unchanged at Rs.3,066 per gram until the end of the month.
- Gold price in Delhi rose by 1.86% due to the poorly performing US dollar and equities that pushed demand higher for the metal during the month.
Trend of Gold Rate in Delhi for December 2017 (rates per gram for 24 karat gold)
|Parameters||Gold price (24 karat)|
|Gold Rate on 1st December 2017||Rs.3,016 per gram|
|Gold Rate on 31st December 2017||Rs.3,020 per gram|
|Highest Rate in December||Rs.3,036 per gram from 2 to 4 December|
|Lowest Rate in December||Rs.2,910 per gram on 11 to 13 December|
|Overall Monthly Performance||Incline|
December 2017 - Week 1 (1st - 10th)
- The month began in Delhi with the precious yellow metal priced relatively lower at Rs.3,016 per gram as the safe-haven metal lost its appeal after the release of an optimistic US economic data resulted in a stronger dollar and firmer equities.
- However, the dollar weakened after the Republican tax reform to overhaul the country’s tax system was stalled by the US Senate. This led to gold price in Delhi picking up to Rs.3,036 per gram on the 2nd.
- Steady local demand coupled with a strong trend overseas led to gold rates remaining untouched at Rs.3,036 per gram over the next couple of days.
- With investors focusing on the non-farm payrolls during the week and also the much awaited US Federal Reserve meeting next week, the dollar gained against other apex currencies. This led to rates plunging to Rs.2,998 per gram and 2,988 per gram on the 5th and the 6th.
- Gold rate in Delhi dropped further to Rs.2,983 per gram on the 7th before hitting its lowest level of Rs.2,950 per gram on the 8th. This was due to the US Senate’s decision to set aside their internal differences narrowly voted to clear the landmark tax bill, boosting investor sentiments.
- The rest of the week witnessed the precious metal trading slightly higher at Rs.2,955 per gram with a marginal increase in demand amid the ongoing wedding season.
December 2017 - Week 2 (11th - 17th)
- In Delhi, when trade exchanges opened for the week, the yellow metal was priced at Rs.2,940 per gram.
- Due to demand hovering 5-month lows, gold rate in Delhi were still holding at Rs.2,940 per gram on the 12th and the 13th of December.
- News about a crashing dollar had positive impact on gold and the metal’s rates went up to Rs.2,960 per gram on the 14th of December.
- The same demand couldn’t be sustained for longer periods of time. This led to gold price in Delhi dropping down to Rs.2,945 per gram the next day.
- On the 16th, the metal’s rates pushed up to Rs.2,955 per gram and continued at the same rate till the end of the week.
December 2017 - Week 3 (18th - 24th)
- In Delhi, gold opened trading at Rs.2,950 per gram on the 18th with a relatively lower demand for the metal amid the firm equity markets and stronger dollar value.
- But with investors analysing the ultimate outcome of the US tax system overhaul on the country’s economic growth, the dollar lost its ground against a basket of emerging currencies.
- Gold rate in Delhi were recorded at Rs.2,960 per gram on the 19th which continued on to the next day amid the strong trends overseas.
- Though the gold price in Delhi surged to Rs.2,965 per gram on the 21st with the Asian markets muted by the US tax reforms, the dollar soon regained its lost sheen with firmer equities and gold was trading at Rs.2,960 per gram on the 22nd.
- Positive trends overseas coupled with increased global demand resulted in the precious metal being priced at Rs.2,985 on the 23rd and the 24th.
December 2017 - Week 4 (25th - 31st)
- In Delhi, gold rates increased gradually over the first four days of the week before consolidating for the remaining few days.
- On the 25th of December, the yellow metal was priced at Rs.2,975 per gram. Rates went up to Rs.2,985 per gram as there was a surge in international demand.
- Gold prices surged again to Rs.2,995 per gram on the 27th of the month, as gold was seen hitting the $1,300 and above mark in the global market.
- Rates went up again on the 28th to Rs.3,015 per gram as a weak US dollar pushed gold to hit four-week high prices.
- As demand toned down a little, the yellow metal traded at Rs.3,020 per gram on the 29th of the month.
- The last two days of December saw gold rates remain at Rs.3,020 per gram as local demand remained steady despite there being a surge globally.
|Parameters||Gold price (24 karat)|
|Gold rate on 1st November 2017||Rs.3,006 per gram|
|Gold rate on 30th November 2017||Rs.3,026 per gram|
|Highest Rate in November 2017||Rs.3,060 per gram from 18 to 20 November|
|Lowest Rate in November 2017||Rs.3,006 per gram on 1 November|
|Overall Monthly Performance||Incline|
November 2017 - Week 1 (1st - 5th)
- Gold rate in Delhi started relatively poorly at Rs.3,006 per gram on the 1st of the month.
- However, a significant surge from investors in the city saw rates go up to Rs.3,020 per gram on the 2nd of November.
- But, as the US dollar strengthened and global cues weakened, gold rates in the city fell to Rs.3,015 per gram on the 3rd.
- On the 4th, gold price in Delhi went further down to Rs.3,010 per gram as domestic demand fell again to remain in line with the international demand.
- When the week came to an end, gold rates were recorded at Rs.3,010 per gram.
November 2017 - Week 2 (6th - 12th)
- Gold rate in Delhi opened relatively low at Rs.3,005 per gram, when trading commenced for the week in Delhi.
- The 7th witnessed gold price in Delhi surging to Rs.3,025 per gram - an increase of Rs.20 per gram from the previous day - with geopolitical tensions rising in the Middle-East, and concerns between the US and North Korea supporting safe-haven investments globally.
- The downfall of the US dollar amid possible delays in the US tax reform resulted in gold rates rising to Rs.3,035 per gram on the 8th.
- Steady global demand amid strong global cues led to prices remaining unchanged at Rs.3,035 per gram the next day as well.
- With the bullion trade marking a three-week high on the 10th, the yellow metal prices surged to Rs.3,045 per gram on account of the dollar declining against other apex currencies.
- The next two days witnessed gold rate in Delhi remaining unchanged at Rs.3,045 per gram, as a strong trend overseas pushed demand higher for the metal.
November 2017 - Week 3 (13th - 19th)
- When trade exchanges commenced business on the 13th, gold was priced at Rs.3,035 per gram.
- Gold rate in Delhi jumped to Rs.3,045 per gram as local demand surged considerably. Prices went up again on the 15th to Rs.3,050 per gram as domestic purchasing trend remained strong in spite of weak global cues.
- However, gold price in Delhi fell to Rs.3,040 per gram on the 16th as the US dollar value improved due to high yield from treasury bonds.
- Gold prices fell again to Rs.3,030 per gram on the 17th before seeing a significant rise on the 18th of November.
- The yellow metal traded at Rs.3,060 per gram on the 18th and continued at the same rate on the 19th as demand from local investors remained strong.
November 2017 - Week 4 (20th - 26th)
- Gold opened strongly in Delhi before falling over the next two days due to factors concerning the Federal Reserve and its latest meeting.
- On the 20th of November, the yellow metal traded at Rs.3,060 per gram.
- However, gold rate in Delhi fell to Rs.3,035 per gram - a Rs.25 decline - as local demand dropped in all major Asian and European markets.
- Gold price in Delhi went down further to Rs.3,026 per gram on the 23th as US Fed minutes was expected to be revealed to the media.
- Once investors found the Fed rhetoric wasn’t as bad, gold rates surged to Rs.3,046 per gram on the 24th of the month.
- Demand fell on the 25th and prices went down to Rs.3,036 per gram, which continued on till the closing hours of the 26th.
November 2017 - Week 5 (27th - 30th)
- Gold opened at Rs.3,045 per gram when the fifth week of November began in Delhi.
- Gold rate in Delhi dropped to Rs.3,040 per gram the next day because of a poor demand brought about by the Fed chair speech. Rates dropped all over the the world and consequently in India as well.
- A steady demand saw gold price in Delhi remain at Rs.3,040 per gram on the 29th of the month.
- The final day of this week saw a significant decrease in gold rates with the metal’s rates falling by nearly Rs.20 to trade at Rs.3,026 per gram.
- The main reason for this drop was the positive data from the US stock market.
|Parameters||Gold price (24 karat)|
|Gold Rate on 1st October 2017||Rs.3,063 per gram|
|Gold Rate on 31st October 2017||Rs.3,026 per gram|
|Highest Rate in October 2017||Rs.3,072 per gram from 12 to 16 October|
|Lowest Rate in October 2017||Rs.3,026 per gram on 27, 30 and 31 October|
|Overall Monthly Performance||Decline|
October 2017 - Week 1 (1st -7th)
- The prices of gold in the national capital was steady as the week began but fell sharply due to a gradual decline in demand due to fluctuating markets as well as a rising dollar rate.
- Gold was priced at Rs.3,063 per gram on 1 October and remained steady the subsequent day.
- Gold rate in Delhi dropped to Rs.3,043 per gram on 3 October as the dollar recouped earlier losses following strong trading and a rise in equities.
- Local demand also suffered due to the rise in the dollar rate as imports became more expensive, as gold traded at Rs.3,033 per gram on 5 October.
- Continued political turmoil in the United States did not appear to affect markets as they remained high, staving off demand for bullion.
- Gold price in Delhi dropped to Rs.3,028 per gram on 6 October as U.S. employment data was better than expected.
- Demand for gold rose as the week ended over renewed fears of North Korea’s nuclear capabilities, leading to gold prices rising to Rs.3,046 per gram on 7 October.
October 2017 - Week 2 (8th -14th)
- Gold trading in Delhi was also in tune with the trend seen in other major cities.
- On the 8th of October, gold was priced at Rs.3,046 per gram. With the North Korea- US conflict resurfacing, gold rates in Delhi rose to Rs.3,057 per gram on the 9th.
- Gold price in Delhi increased on the 10th as well to hit Rs.3,062 per gram, thanks to uncertainties in the US economy.
- A steady demand saw gold prices remain unchanged in Delhi on the 11th, before increasing to Rs.3,072 per gram on the 12th.
- The final two days of this week, i.e., the 13th and 14th saw gold rates stabilise and remain at Rs.3,072 per gram as the US dollar regained some of its lost sheen.
October 2017 - Week 3 (15th - 21st)
- In Delhi, gold opened at Rs.3,072 per gram when the trading for October week 3 commenced.
- Gold price in Delhi remained steady on the next day before declining to Rs.3,067 per gram as favourable returns from US treasury bonds saw the greenback hold its own against other currencies.
- An improving dollar caused gold rates in Delhi to drop again on the 18th to Rs.3,056 per gram.
- A less than desirable demand during the pre-Diwali days saw the yellow metal trading at Rs.3,057 per gram on the 19th and the 20th of the month.
- Due to demand slowing down because of subdued demand in domestically, gold rates fell to Rs.3,047 per gram on the 21st of October.
October 2017 - Week 4 (22nd -28th)
- Gold was recorded trading at Rs.3,047 per gram on the 22nd, when trading commenced for the week in the national capital.
- Global demand declined as the dollar dominated over other apex currencies after the US-North Korean conflicts settling down. This resulted in gold prices declining to Rs.3,041 per gram the next day.
- However, gold rates in Delhi rebounded to Rs.3,046 per gram on the 24th with an increase in domestic purchases by local jewellers, retailers and investors, but prices soon dropped the next day to Rs.3,036 per gram as speculations of an early announcement on the next Federal Reserve chairman resulted in the US dollar rising.
- Gold price in Delhi plunged to Rs.3,031 per gram on the 26th, which further dropped to Rs.3,026 per gram on the 27th as dollar gained against euro after the ECB decided to extend its bond-buying programme.
- Positive global cues resulted in an increased local demand for the precious metal. This resulted in the yellow metal prices rebounding to Rs.3,036 per gram on the 28th.
October 2017 - Week 5 (29th- 31st)
- Gold rate in Delhi opened at Rs.3,036 per gram on the 29th of October before dropping to Rs.3,026 per gram as investors played a cautious game with regards to their purchases.
- The main reason for this was the two-day FOMC meeting, which led local investors to reduce their investment for the time being.
- On the 31st, when the month ended, gold was priced at Rs.3,026 per gram, with investors still waiting for the Fed Reserve meeting’s outcome before investing.
|Parameters||Gold price (24 karat)|
|September 1 Rate||Rs.3,024 per gram|
|September 30 Rate||Rs.3,063 per gram|
|Highest Rate in September||Rs.3,130 per gram on 8 September|
|Lowest Rate in September||Rs.3,024 per gram on 1 September|
|Overall Monthly Performance||Incline|
September 2017 - Week 1 (1st to 10th)
- In national capital, Delhi, gold rates started off on a low for the week because of muted demand from investors and jewellers alike.
- When the week commenced on the 1st, gold was priced at Rs.3,024 per gram.
- Prices surged up slightly to Rs.3,029 per gram on the 2nd and remained unchanged on the 3rd on account of stable purchases.
- News about North Korea’s latest nuclear weapon testing sent world markets crashing, which pushed up safe-haven investments. Gold rate in Delhi went up to Rs.3,105 per gram within a day as investors flocked the trade unions.
- As the markets remained volatile, gold price in Delhi were holding above Rs.3,100 per gram levels for the remainder of the week.
- On the 5th, prices surged to Rs.3,115 per gram as more investors and jewellers ramped up their purchases. Rates remained the saw on the 6th the market saw demand sustain at the same level.
- The 7th seemed to witness a slight drop in demand, which was evident with the precious metal’s prices dropping to Rs.3,100 per gram.
- With confirmation arriving from North Korea about its ambitious — and potentially threatening — nuclear test, gold prices surged to Rs.3,130 per gram on the 8th.
- The 9th and the 10th saw the yellow metal trade at Rs.3,125 per gram, thanks to prolonged demand from active investors.
September 2017 - Week 2 (11th to 17th)
- The national capital saw little in the way of change in the price of gold in the second week of September since local markets were stable and shielded the metal from adverse changes on the global front.
- Gold rate in Delhi was at Rs.3,105 per gram on 11 September, a slight drop in price from the previous week as U.S. markets strengthened over the weekend.
- Demand for gold fell as local jewellers reduced orders, leading to the yellow metal trading at Rs.3,085 per gram on 12 September.
- Overseas demand from industry, especially from countries like China rose briefly as markets braced for the economic impact of the hurricanes battering the U.S. coast.
- Gold price in Delhi rose to Rs.3,094 per gram on 13 September but dropped to Rs.3,085 per gram on 14 September as demand stagnated.
- Volatile markets overseas had little impact on the bullion rate in Delhi as gold prices remained unchanged for the remainder of the week, trading at Rs.3,085 per gram on 17 September.
September 2017 - Week 3 (18th-24th)
- When trading started on the 18th, gold price in Delhi had fallen to Rs.3,073 per gram as opposed to Rs.3,085 per gram the previous day.
- As demand fluctuated, gold rate in Delhi fell to Rs.3,056 per gram. Another reason for this was the strengthening US dollar.
- The North Korea - US nexus pushed demand for safe-haven investments, which led to gold rates increasing to Rs.3,078 per gram on the 20th.
- Uneven global cues and a poor local demand pushed gold rates back down to Rs.3,051 per gram on the 21st.
- With the festive season bustle settling in, demand increased. This led to gold rate in Delhi going up to Rs.3,078 per gram on the 22nd.
- The 23rd and 24th saw gold rates decrease and trade at Rs.3,058 per gram as the US dollar strengthened against other apex currencies.
September 2017 - Week 4 (25th-30th)
- When the final week of September, gold was priced at Rs.3,051 per gram, a considerable decrease from the previous day’s prices.
- However, the approaching festive season pushed demand for the metal up on 26th September. This led to the metal trading at Rs.3,110 per gram.
- As the US dollar strengthened after news about a possible Fed rate hike, gold rate in Delhi went down to Rs.3,085 per gram on the 27th of the month.
- Gold price in Delhi fell on the 28th and the 29th for the metal to trade at Rs.3,067 per gram and Rs.3,057 per gram respectively.
- The last day of this week saw demand pick up slightly, which led to the yellow metal trading at Rs.3,063 per gram.
|Parameters||Gold price (24 karat)|
|August 1 Rate||Rs.2,960 per gram|
|August 31 Rate||Rs.2,999 per gram|
|Highest Rate in August||Rs.3,017 per gram on 28 August|
|Lowest Rate in August||Rs.2,930 per gram on 3, and from 5-7 August|
|Overall Monthly Performance||Incline|
August ‘17 - Week 1 (1st to 6th)
- The national capital saw fluctuations in the price of gold due to demand vagaries as well as the U.S. Federal Reserve meeting.
- Gold was priced at Rs.2,960 per gram on 1 August as prices rose from the previous month due to a weak U.S. dollar.
- Gold price in Delhi fell marginally due to slow offtake from jewellers who were monitoring the U.S. Fed rate announcement on the possibility of an interest rate hike.
- The yellow metal traded at Rs.2,950 per gram on 3 August as demand dropped following a recovery in the dollar price as well as renewed market stability.
- Local demand also fell marginally, though gold prices rose to Rs.2,940 per gram on 4 August.
- Gold rate in Delhi fell as the week ended, with gold priced at Rs.2,930 per gram on 5 & 6 August due to a decline in demand from jewellers.
August ‘17 – Week 2 (7th to 13th)
- In Mumbai, gold prices remained on a subdued note for the first half of the week before going up significantly during the second half.
- On the 7th, gold in Mumbai was trading at Rs.2,988 per gram, but as local jewellers were cautious with their investment, rates went down to Rs.2,978 per gram.
- After some positive cues from the global market made its way to Mumbai, gold prices went up to Rs.2,998 per gram on the 9th.
- The 10th saw gold rate in Mumbai remain at Rs.2,998 per gram before increasing by Rs.46 to trade at Rs.3,044 per gram on the 11th of August.
- As demand remained steady despite falling international demand, gold prices were seen holding at Rs.3,044 per gram over 12th and the 13th of August.
August ‘17 - Week 3 (14th to 20th)
- The price of gold in the national capital echoed trends seen in other major Indian cities, with prices fluctuating towards the middle of the week before recovering marginally.
- Gold was priced at Rs.2,994 per gram on 14 August and remained the same on 15 August as commodity markets did not trade on Independence day.
- Gold price in Delhi fell to Rs.2,979 per gram on 16 August as the U.S. dollar rate was on the increase following weeks of poor performance.
- The ongoing tensions between the U.S. and North Korea led to fluctuating U.S. markets and an unstable dollar, which helped gold rose to Rs.2,994 per gram on 17 August.
- A rise in Asian demand led to gold rising to Rs.2,999 per gram on 18 August before prices dipped to Rs.2,982 per gram on 19 August.
- Stable demand from domestic as well as overseas markets led to gold ending the week at Rs.2,982 per gram on 20 August.
August 2017 – Week 4 (21st - 27th)
- Gold trading in the national capital reflected the global trend with regards to the prices.
- On the 21st of August, gold price in Delhi were recorded at Rs.2,972 per gram.
- As the US-North Korea issue dominated the market on the 22nd, dollar plummeted, which lead to gold trading at Rs.2,982 per gram.
- The 23rd saw demand go up slightly which led to gold price in Delhi reaching Rs.2,987 per gram.
- Domestic demand was considerably better despite some weak global cues and gold rates in Delhi reached Rs.2,992 per gram on the 24th.
- Due to sustained demand, rates remained unchanged over the course of the next three days.
August 2017 – Week 5 (28th - 31st)
- Reflecting trends seen in other Indian cities, gold prices in the national capital appreciated due to higher demand and favourable market conditions.
- Gold was priced at Rs.3,017 per gram on 28 August, its highest rate for the month as the geopolitical crisis in the Korean peninsula led to higher demand for bullion.
- Markets were volatile due to the threat of aggression from North Korea and the flooding in Texas, which led to increased overseas demand for gold.
- Prices dipped marginally as the week progressed, trading at Rs.3,009 per gram on 29 August as local demand diminished.
- The gold rate in Delhi dropped to Rs.2,999 per gram on 31 August as the dollar rate stabilised and industrial demand slowed.
|Parameters||Gold price (24 karat)|
|July 1 Rate||Rs.2,992 per gram|
|July 31 Rate||Rs.2,950 per gram|
|Highest Rate in June||Rs.2,992 per gram on 1 and 2 July|
|Lowest Rate in June||Rs.2,843 per gram on 12 and 13 July|
|Overall Monthly Performance||Decline|
July 2017 - Week 1 (1st to 9th)
- Due to sustained demand for gold from domestic markets, gold was priced at Rs.2,992 per gram on 1 July in the national capital. On 2 July as well, gold traded at the same rate.
- The value of the U.S. dollar was quite low due to global central banks’ decision regarding monetary tightening.
- This yellow metal was priced at Rs.2,972 per gram on 3 July before falling even further the next day.
- On 4 May, gold traded at Rs.2,942 per gram and this price was noted until 6 July. This was due to a rise in the value of the U.S. dollar.
- The price of gold fell even further on 7 July to trade at Rs.2,922 per gram before falling to a monthly low of Rs.2,902 per gram on the last two days of the first week of July.
July 2017 - Week 2 (10th to 16th)
- Gold price in Delhi saw a few fluctuations during the second of July.
- On the 10th of July, gold was priced at Rs.2,902 per gram but went down to Rs.2,872 per gram on the 11th as international demand went down.
- The US job data brought about further decrease in bullion prices which was then compounded by a significant drop in local demand.
- When trading began on the 12th, gold price in Delhi had further dropped by Rs.29 to hit Rs.2,843 per gram.
- However, as president Trump’s scandal came into the fore gold prices picked up over the latter half of the week.
- Prices were recorded at Rs.2,843 per gram on the 13th but jumped to Rs.2,863 per gram on the 14th.
- Gold rate in Delhi remained unchanged on the 15th and 16th to remain at Rs.2,863 per gram as demand in local circles consolidated.
- There was a Rs.39 drop from the start of the week to the end despite an increase in the international demand due to poor domestic sales.
July 2017 - Week 3 (17th to 23rd)
- Prices in the capital city reflected trends seen across the country as gold was highly sought after.
- Gold was priced at Rs.2,863 per gram on 17 July as demand was high owing to a weak U.S. dollar as well as fluctuating stock markets.
- Gold price in Delhi rose to Rs.2,873 per gram on 18 July on the back of renewed interest from investors due to poor returns from falling markets.
- Local demand rose marginally due to positive cues from overseas demand, resulting in gold rate in Delhi was Rs.2,883 per gram on 19 July.
- Demand from Asia also boosted prices, as a low U.S. dollar led to increased buying and pushed gold prices to Rs.2,908 per gram on 21 July.
- The week ended with gold trading at Rs.2,944 per gram on 22 & 23 July.
July 2017 - Week 4 (24th to 31st):
- In national capital Delhi, gold prices started at Rs.2,944 per gram when the week began on 24th July and remained unchanged on the 25th, thanks to steady demand.
- However, prices fell by Rs.15 on the 26th to Rs.2,929 per gram as demand took a hit and investors pulled away from investing in the metal.
- The 27th, however, saw gold prices increase by Rs.21 to hit Rs.2,950 per gram as investors seemed to capitalise on US dollar’s poor performance.
- Gold prices in Delhi went down marginally to Rs.2,945 per gram on the 28th as demand subsided briefly.
- But, as North Korean conflict with the US took centre stage, dollar fell to 13-month lows, which prompted local jewellers to invest in the metal more.
- As a result of this, gold prices went up to Rs.2,955 per gram and traded at the same rate on the 29th and the 30th of July.
- Prices declined to Rs.2,950 per gram on 31st July as local demand hit saturation point.
|Parameters||Gold price (24karat)||June 1 Rate||Rs.3,012 per gram|
|June 30 Rate||Rs.2,992 per gram|
|Highest Rate in June||Rs.3,057 per gram on 7 June|
|Lowest Rate in June||Rs.2,972 per gram on 27 June|
June 2017 - Week 1 (1st-4th):
- National Capital Delhi also saw a positive change in gold rates as US’ turned out to have a quiet impact in India.
- On the 1st of June, gold prices were holding at Rs.3,012 per gram - an increase of Rs.20 per gram from the previous day’s prices.
- As there was not much of a rise in demand, gold prices remained at Rs.3,012 per gram on the 2nd as well.
- However, as price of gold rose globally, there was a knock-on effect to be seen in Delhi.
- Prices went up to Rs.3,022 per gram on the 3rd and remained the same on the 4th, when the week came to an end.
June 2017 - Week 2 (5th - 11th)
- In Delhi, gold prices were recorded at Rs.3,037 per gram on the 5th and the 6th of June.
- As demand for the metal went up amidst some weakening of the US dollar, gold prices went up to Rs.3,057 per gram.
- The 8th, however, saw prices consolidate to bring gold prices down to Rs.3,042 per gram.
- On 9th, as dollar value picked up, gold prices took a massive hit and dropped by Rs.25 per gram to trade at Rs.3,017 per gram.
- As demand didn’t from local circles didn’t increase, gold prices went down to Rs.3,007 per gram on the 10th.
- When the week came to an end on the 11th, gold was still seeing trading at Rs.3,007 per gram as demand was steady.
June 2017 - Week 3 (12th-18th)
- On the 12th of June, gold was priced at Rs.3,007 per gram in the capital city of the country. A relatively high demand for this metal was noted from markets in the country and abroad.
- This demand ensured that the rate of gold was sustained until the 15th of the month.
- Due to lack of clarity regarding bank issues due to bullion import as a result of GST kept the market on tenterhooks.
- As the demand for this metal fluctuated, the rate of gold in Delhi reduced on the 16th of June to trade at Rs.2,992 per gram.
- Demand for this metal further reduced as the week progressed. On the last two days of the week this yellow metal traded steadily at Rs.2,982 per gram.
June 2017 - Week 4 (19th to 25th)
- The price of gold in the national capital reflected trends seen in other Indian cities, with the price of gold rising over the course of the week.
- Gold was priced at Rs.2,982 per gram on 19 June as prices remained unchanged from the previous week.
- Prices remained constant as demand was stable, as minimal fluctuations resulted in prices being unaffected.
- Gold rose to Rs.2,987 per gram on 23 June as consumers increased purchases before the onset of the GST tax regime which pushed gold prices higher even though global trends pointed to a decline in the yellow metal’s value.
- The week ended with gold trading at Rs.2,992 per gram on 25 June, registering an increase of Rs.10 over the week.
June ’17 – Week 5 (26 to 30)
- The price of gold in the country’s national capital fluctuated due to demand vagaries as well as geo-political factors.
- Gold was priced at Rs.3,002 per gram on 26 June, rising marginally due to increased demand.
- The price fell sharply the following day, with gold trading at Rs.2,972 per gram on 27 June due to a steep drop in demand overseas, which led to a dip in domestic demand as well.
- Prices began to recover as jewellers increased orders before the advent of GST, which pushed prices to Rs.2,992 per gram on 28 June.
- Demand was consistent for the remainder of the week, with the price remaining unchanged and resulting in gold ending the month trading at Rs.2,992 per gram on 30 June.
|May 1st Rate||Rs.3,011 per gram|
|May 31st Rate||Rs.2,992 per gram|
|Highest Rate in May||Rs.3,011 per gram on 1st & 2nd May|
|Lowest Rate in May||Rs.2,918 per gram from 11th-15th May|
May 2017 - Week 1 (1st-7th)
- Due to sustained demand, on the 1st and 2nd of May, gold was priced at Rs.3,011 per gram in Delhi.
- However, due to falling demand for the safe-haven asset as a result of the U.S. Dollar gaining against the Yen, the rate of gold reduced.
- Gold traded at Rs.2,982 per gram on the 3rd of May and declined further thereafter.
- Diminishing yet steady demand for this precious metal resulted in this metal trading at Rs.2,952 per gram from the 4th of May until the very end of the week. Political factors coupled with low demand resulted in a decline of gold rate as the first week of May progressed.
May 2017 – Week 2 (8th -14th)
- The national capital’s gold prices echoed trends across the country, with prices falling during the second week of May.
- Gold traded at Rs.2,942 per gram on 8th May as markets opened strongly following the news of the victory of the centrist candidate Emmanuel Macron in the French presidential election.
- A decline in industrial demand, both domestically as well as internationally, led to gold prices falling to Rs.2,928 per gram on 10th May.
- A decline in demand for gold from overseas markets due to the high price of exports led to a further drop in gold prices as the metal traded at Rs.2,918 per gram on 11th May.
- Gold rate in Delhi remained constant as the week ended on 14th May, as gold registered a decline in price of Rs.24 per gram over the week.
May 2017 - Week 3 (15th - 21st)
- National capital Delhi endured a mixed week for gold sales this time due to some domestic concerns.
- On 15th, gold in Delhi was selling at Rs.2,918 per gram, which then went up to Rs.2,923 per gram on the 16th.
- The 17th again saw an increase in gold prices, owing to some weakening dollar amidst concerns over President Donald Trump’s meddlesome behaviour.
- Gold was trading at Rs.2,991 per gram on 18th - an increase of Rs.52 per gram from the previous day’s prices when bullion was selling at Rs.2,939 per gram.
- The US President’s involvement in influencing federal investigation sent the market into a tizzy.
- However, after that concerns mellowed down on intensity, gold rates took a hit to go down to Rs.2,977 per gram on the 19th.
- Rates remained unchanged on the 20th and the 21st as bullion prices consolidated towards the end of May week 3.
May 2017 – Week 4 (22nd - 28th)
- Gold was priced at Rs.2,977 per gram on the 22nd of May in the capital city of Delhi. This was due to slightly high demand for this metal from international as well as domestic markets.
- The price of gold was stable on the 23rd of May in spite of the Manchester blasts with investors staying on the sidelines.
- This price was witnessed until the 25th of May due to steady demand for gold.
- However, the rate of gold increased on the 26th of the month due to a fall in the value of the U.S. dollar. In addition to this, there did not seem to chances of the U.S. Fed increasing the rate of interest resulting in relatively high rates of gold.
- From the 26th to the 28th of May in Delhi, gold traded at Rs.2,992 per gram.
May ’17 – Week 5 (29th to 31st)
- Gold prices in the national capital were constant due to minimal fluctuations in demand during the last week of May.
- Prices were unchanged from the previous week, trading at Rs.2,992 per gram on 29th May as demand was stagnant.
- Minor market fluctuations did not affect demand, which led to prices being constant as the month ended.
- Gold traded at Rs.2,992 per gram on 31st May, recording a decline in price by 0.63% over the course of the month.
|April 1st Rate||Rs.2,991 per gram|
|April 30th Rate||Rs.3,011 per gram|
|Highest Rate in April||Rs.3,068 per gram on the 15th and 16th of April|
|Lowest Rate in April||Rs.2,983 per gram from the 8th to the 10th of April|
April 2017 - Week 1 (1st-9th)
- Gold rate in Delhi in the first week of April were on the rise due to higher purchasing from industrial as well as retail sectors.
- Rate of gold was Rs.2,991 per gram on the 1st day of the month.
- As a result of increased demand from both domestic and international markets, the rate of gold was stable at Rs.2,991 per gram until the 3rd of April.
- As the week continued, the rate of gold continued to rise due to increased offtake.
- The price of gold in Delhi was Rs.3,003 per gram between the 4th of April to the 7th of April.
- However, a slight decline was noted in the rate of gold during the last two days of the month with gold trading at Rs.2,983 per gram.
April 2017 - Week 2 (10th-16th)
- Barring a single drop midweek, gold prices remained largely on the rise in national capital Delhi.
- On 10th, gold was priced at Rs.2,983 per gram which then rose by Rs.15 to Rs.2,998 per gram as local demand surged on 11th.
- The 12th saw the biggest increase in prices as the metal’s rate rose by Rs.38 to trade at Rs.3,036 per gram.
- However, as demand dipped suddenly on 13th, gold rate in Delhi went down by Rs.20 to Rs.3,016 per gram.
- The fall, though, was short lived as gold gained by Rs.31 on 14th to bring trading prices up to Rs.3,047 per gram.
- As demand was on the increase from both domestic and international markets, rates went up again on the 15th, this time to reach Rs.3,068 per gram - Rs.21 per gram increase.
- On the last day of the week, gold prices in Delhi remained unchanged as it was still seen trading at Rs.3,068 per gram.
April 2017 - Week 3 (17th-23rd)
- As a result of steady demand for the yellow metal, the price of gold was relatively stable during the third week of April in Delhi.
- The price of gold in Delhi was steady at Rs.3,057 per gram from the 17th of April to the 20th of April due to steady and heavy demand for this metal.
- Gold traded higher in early trade due to increasing tensions in North Korea and Syria, resulting in investors being driven to safe haven assets.
- However, due to continued geopolitical tensions as well as a steady demand for this metal, the price of gold rose to Rs.3,062 per gram and stayed steady at this rate until the end of the week.
April 2017 - Week 4 (24th-30th)
- The price of gold in Delhi during the final week of April was subject to minor fluctuations due to variation in the demand for this metal, among other factors.
- Gold traded at Rs.3,041 per gram on the 24th of April due to slightly high demand and stayed steady at this price on the 25th as well.
- However, as week progressed, due to geopolitical factors including Emmanuel Macron’s win in the first round of the French Presidential elections, the rate of gold reduced.
- Gold traded at Rs.3,011 per gram from the 26th of April until the end of the week due to low but sustained demand.
- The rate of spot gold had also decreased by 0.7%.
|March 1st Rate||Rs.3,009 per gram|
|March 31st Rate||Rs.2,991 per gram|
|Highest Rate in March||Rs.3,009 per gram on 1st March|
|Lowest Rate in March||Rs.2,950 per gram on 15th March|
March 2017 - Week 1 (1st - 4th):
- National capital too was hit by the strengthening US dollar.
- The first of March saw gold trading at Rs.3,009 per gram - a steep decrease from the last day of February.
- Rates remained the same on 2nd but went down due to tumbling demand to reach Rs.2,990 per gram.
- Prices were unchanged on 4th as the first week of March ended with the metal trading at Rs.2,990 per gram.
March 2017 - Week 2 (5th - 11th):
- National capital Delhi too bore witness some ups and downs in gold rates.
- On 5th, gold in Delhi was priced at Rs.2,990 per gram and remained unchanged on the 6th.
- The 7th saw gold rate in Delhi go down to Rs.2,970 per gram but increased to Rs.2,993 per gram on 8th.
- Rates went down on 9th and 10th for the metal to trade at Rs.2,977 and Rs.2,965 per gram respectively.
- The last day of week 2 ended on a high as the metal was seen trading at Rs.2,971 per gram.
March 2017 - Week 3 (12th-18th):
- De to increased demand from both domestic and international markets, the rate of gold in Delhi during the third week of March was relatively high.
- The price of gold was Rs.2,971 per gram on the first day of the third week of March.
- Despite seasonal demand, the price of gold dropped by Rs.20 the next day to trade at Rs.2,951 per gram.
- The rate of gold continued to fall over the next two days owing to a fall in demand from markets overseas.
- On the 17th of March, rate of gold recovered marginally to trade at Rs.2,970 per gram.
- Gold traded at Rs.2,971 per gram on the last two days of the month owing to steady demand from domestic markets.
March 2017 - Week 4 (19th-25th):
- Gold prices in national capital Delhi saw some ups and downs over the fourth week of March, which was due to factors like a strengthening dollar and domestic demand.
- On 20th, gold was trading at Rs.2,976 per gram and continued at the same rate as on 21st as bullion demand didn’t change.
- The 22nd, gold prices increased by Rs.27 per gram to go up to Rs.3,003 per gram, owing to a sudden surge in domestic demand and a slightly weakening dollar.
- Gold rates remained the same on 23rd before going down by Rs.10 per gram on 24th to hit Rs.2,993 per gram.
- The fall in rates can be attributed to the rallying dollar and a slight fall in demand.
- Rates remained unchanged over the next two days at Rs.2,993 per gram when the week came to an end.
March 2017- Week 5 (26th-31st):
- Delhi too followed a similar pattern to that of Mumbai, wherein gold rates didn’t see any change until the last day of the week and month.
- When trading began on 27th, gold price in Delhi was at Rs.3,003 per gram - a rate which continued on till the closing hours of the 30th.
- On 31st, gold rate in delhi fell due to a lack of domestic demand to hit Rs.2,991 per gram.
|February 1st Rate||Rs.2,978 per gram|
|February 28th Rate||Rs.3,020 per gram|
|Highest Rate in February||Rs.3,031 per gram from 25th-27th February|
|Lowest Rate in February||Rs.2,957 per gram from 4th-6th February|
February 2017 - Week 1 (1st-4th):
- In national capital Delhi, there weren’t too many fluctuations to be seen during the first week of February.
- The 1st began with gold trading at Rs.2,978 per gram and continued at the same rate till the business end of 3rd.
- Prices, however, nosedived considerably on the 4th as it hit Rs.2,957 per gram - a sharp decrease of Rs.21 per gram.
February 2017 - Week 2 (5th-11th)
- Steady demand led to gold prices increasing during the second week of February, trading at Rs.2,957 per gram on 5th February.
- Prices remained constant for the next day before prices rose to Rs.2,999 per gram on 7th February due to increased demand from investors following uncertainty over U.S. market performance.
- The price rose to Rs.3,009 per gram on 8th February as domestic demand also rose, with prices remaining constant for the next two days.
- Market fluctuations resulted in the price falling to Rs.2,983 per gram on 11th February, to record a weekly increase of Rs.26 per gram.
February 2017 - Week 3 (12th-18th)
- Fluctuating demand led to gold prices in Delhi gaining ground but dipping as the week ended.
- Gold traded at Rs.2,983 per gram on 12th February due to declining industrial demand with the price remaining constant on 13th February as well.
- Gold prices in Delhi fell to Rs.2,973 per gram on 14th February, as retail demand could no longer keep prices stable.
- Prices rose on 16th February, with gold trading at Rs.2,989 per gram as stock markets dipped, which increased demand for the metal.
- Gold rose to Rs.3,004 per gram on 17th February on increased demand, but fell to Rs.2,999 per gram on 18th February to record a weekly increase of Rs.16 per gram.
February 2017 - Weeks 4 & 5 (19th-28th)
- Demand was more or less stable in Delhi in the last two weeks of February, with gold trading at Rs.2,999 per gram on 19th February on consistent demand from the industrial sector.
- Fluctuations in the market due to fears of an economic slowdown did not affect prices in the capital.
- Gold rose to Rs.3,031 per gram on 25th February as markets and currencies fell, raising demand for the yellow metal.
- Gold prices dropped on the last day of the month to trade at Rs.3,020 per gram on 28th February, registering a weekly increase of Rs.21 per gram and a monthly gain of 1.41%.
|January 1st Rate||Rs.2,844 per gram|
|January 31st Rate||Rs.2,958 per gram|
|Highest Rate in January||Rs.2,979 per gram on 23rd & 24th January|
|Lowest Rate in January||Rs.2,844 per gram from 1st-3rd January|
January 2017 - Week 1 (1st to 7th)
- National capital also kept up with the onward and upward trend with regards to gold prices.
- The first day of the year began with gold trading at Rs.2,844 per gram and continued at the same rate for the next two days till the 3rd.
- On 4th, prices increased by Rs.11 to help the yellow metal trade at Rs.2,855 per gram.
- The next three days of the week, from 5th to 7th, saw gold prices hold steady to trade at the same rate at Rs.2,866 per gram.
January 2017 - Week 2 (8th to 15th)
- Gold prices in the national capital were on the increase due to falling markets and an increase in domestic demand.
- Gold was priced at Rs.2,866 per gram on 8th January as consumer sentiment was favourable to the metal.
- Prices rose to Rs.2,888 per gram on 10th January as international demand was also high due to geopolitical factors.
- U.S markets were shaky as markets braced for changes following Donald Trump taking office, which led to greater demand for gold.
- Prices rose to Rs.2,909 per gram on 11th January and rose to Rs,2,925 per gram the next day.
- Gold prices settled at Rs.2,941 per gram on 15th January to record a weekly increase in price of Rs.75 per gram.
January 2017 - Week 3 (15th to 21st):
- In national capital Delhi, gold prices seemed to fluctuate quite a bit for most of the week.
- On 15th, gold was seen trading at Rs.2,941 per gram and increased to Rs.2,952 per gram on the 16th as global demand soared.
- Prices didn’t change on the 17th as it remained at Rs.2,952 per gram but increased by Rs.21 to hit Rs.2,973 per gram on the 18th.
- As demand fell gold prices followed suit to decrease considerably.
- On 19th, gold prices were down by Rs.16 to Rs.2,957 per gram.
- Prices fell again on the 20th bringing gold trading rates down to Rs.2,952 per gram - a Rs.5 decrease from the previous day.
- The last day of the week on the 21st came as a much-needed breather as gold prices increased to Rs.2,963 per gram - a change of Rs.11.
January 2017- Weeks 4 & 5 (22nd to 31st)
- Gold prices rose in the first few days as demand was high and markets were unstable due to the change of government in the U.S.
- Gold traded at Rs.2,963 per gram on 22nd January, with the price rising to Rs.2,979 per gram on 23rd January due to a drop in the U.S. Dollar.
- Prices were fairly stable though they declined gradually for the rest of the week due to lower industrial demand and weak retail demand from Asia.
- Gold was priced at Rs.2,958 per gram on 31st January as investor demand was muted in anticipation of the U.S. Fed meeting due the next week.
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.
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 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.
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.
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.
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.
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.
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.
Gold Prices in Delhi in 2015
Gold can be purchased in both 22 karat and 24 karat varieties in Delhi. While 24 karat gold is termed as pure gold, 22 karat gold is also quite popular with residents in Delhi. Price trends for gold in Delhi during this year have been detailed below.`
24 karat gold prices in Delhi
24 karat gold price per gram at the start of this year was Rs.2,690. Prices increased over the next 3 weeks to reach a peak of Rs.2,859 on 21st January. This was followed by a general slide of gold prices in Delhi over the next two months, before reaching a low of Rs.2,617 on 18th March. Prices then gradually increased over the next two months to peak at Rs.2,791 on 18th May, before ending the month at Rs.2,727.
22 karat gold prices in Delhi
22 karat gold per gram was priced at Rs.2,516 at the start of the year. Prices peaked at Rs.2,672 on 21st January, before sliding to Rs.2,438 by 18th March. This was followed by a short rally to Rs.2,612 by 18th May, with the month ending at Rs.2,549.
Also Check Gold Price in NearBy Cities of Delhi
|Gold Rate in Chandigarh||Gold Rate in Indore||Gold Rate in Jaipur|
|Gold Rate in Pune||Gold Rate in Ahmedabad||Gold Rate In Srinagar|
|Also Know: Silver Rate in Delhi|
Read more on Gold
- Which Day Is Good To Buy Gold in Year 2018
- Know Gold Rate Trend in 2016
- Make Gold An Excellent Investment Tool
- Pros And Cons Of Buying Gold Bars And Gold Coins
- Things To Remember Before Purchasing Gold Jewellery
- Jewellery Markings On Gold And Silver