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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 September 2019 (rates per gram of 24 karat gold)
|Parameters||Gold price (24 karat)|
|September 1 Rate||Rs.3,959 per gram|
|September 8 Rate||Rs.3,938 per gram|
|Highest Rate in September||Rs.4,037 per gram on 5 September|
|Lowest Rate in September||Rs.3,938 per gram on 7 and 8 September|
September 2019- Week 1 (1-8):
- Steady local and overseas demand saw gold rates 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 the metal surged to Rs.4,037 per gram on 5 September though a steady dollar capped gains.
- Prices 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.
Trend of Gold Rate in Delhi for August 2019 (rates per gram of 24 karat gold)
|Parameters||Gold price (24 karat)|
|August 1 Rate||Rs.3,581 per gram|
|August 31 Rate||Rs.3,959 per gram|
|Highest Rate in August||Rs.4,011 per gram on 27 August|
|Lowest Rate in August||Rs.3,554 per gram on 2 August|
August 2019- Week 1 (1-11):
- There was a sharp rise in gold prices in Delhi, though the metal opened unchanged at Rs.3,581 per gram due to weak local retail demand.
- Gold Prices dropped to Rs.3,554 per gram on 2 August but jumped to Rs.3,665 per gram from 4-6 August after the U.S. indicated the levying of additional tariffs on Chinese goods.
- Low U.S. Treasury yields and global interest rate cuts by central banks increased gold’s appeal, as the Gold Price surged to Rs.3,778 per gram on 7 August and closing the week at Rs.3,843 per gram.
August 2019- Week 2 (12-18):
- There were some fluctuations in the gold price in Delhi due to demand vagaries, with the metal opening unchanged at Rs.3,843 per gram on 12 August amidst increasing demand for safe-haven bullion.
- Prices rose to Rs.3,875 per gram on 14 August as low risk sentiment among investors led to an increase in bullion demand, though prices dipped to Rs.3,833 per gram on 15 August on weak retail demand.
- Despite market uncertainty due to recession fears, bullion prices continued to fluctuate, rising to Rs.3,875 per gram on 17 August before slipping to Rs.3,869 per gram on 18 August.
August 2019- Week 3 (19-25):
- Apart from some minor fluctuations during the week, gold rates in Delhi opened unchanged at Rs.3,869 per gram on 19 August, though prices climbed to Rs.3,896 per gram on 21 August.
- Steady offtake from jewellers ahead of the festive season raised demand, as the yellow metal traded at Rs.3,906 per gram on 22 August.
- Increasing tensions between China and the U.S. raised bullion’s safe-haven appeal, as the metal rose to Rs.3,948 per gram on 25 August.
August 2019- Week 4 (26-31):
- Despite opening unchanged at Rs.3,948 per gram on 26 August, gold prices in Delhi shot up to Rs.4,011 per gram on 27 August on rising economic uncertainty and favourable market cues.
- Prices plunged to Rs.3,980 per gram on 28 August 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 30 August before dropping to Rs.3,959 per gram on 31 August on fluctuations in demand.
Trend of Gold Rate in Delhi for July 2019 (rates per gram of 24 karat gold)
|Parameters||Gold price (24 karat)|
|July 1 Rate||Rs.3,302 per gram|
|July 31 Rate||Rs.3,575 per gram|
|Highest Rate in July||Rs.3,575 per gram on 31 July|
|Lowest Rate in July||Rs.3,302 per gram on 1 and 2 July|
July 2019- Week 1 (1-7):
- After a static opening of Rs.3,486 per gram gold prices in Delhi fell briefly to Rs.3,444 per gram on 2 July on waning investor interest in bullion ahead of key U.S. employment data.
- Despite positive U.S. economic data, the rise in U.S.-Iran tensions and geopolitical uncertainty increased bullion’s appeal, as gold rose to Rs.3,518 per gram on 4 July.
- Fluctuations in local demand saw prices drop to Rs.3,497 per gram on 5 July before the metal climbed to Rs.3,518 per gram when the week ended on 7 July.
July 2019- Week 2 (8-14):
- Opening unchanged at Rs.3,518 per gram, gold rates in Delhi rose on positive overseas cues and a weak equity market, rising to Rs.3,528 per gram on 10 July.
- A brief drop to Rs.3,507 per gram was recorded on 11 July as markets reacted favourably to strengthening U.S. jobs data, but surged to Rs.3,570 per gram on 12 July on renewed indications of an impending U.S. interest rate cut.
- Prices once again fell to Rs.3,539 per gram on 13 July as poor retail sales impacted local demand, though the metal ended the week higher at Rs.3,554 per gram.
July 2019- Week 3 (15-21):
- There was a significant rise in gold rates in Delhi after the metal opened unchanged at Rs.3,554 per gram on 15 July
- Prices dropped to Rs.3,539 per gram on 18 July as a recovery in the dollar and waning investor demand dented overall offtake.
- An escalation in tensions between the U.S. and Iran bolstered flagging bullion demand, as prices surged to Rs.3,612 per gram on 20 July before ending the week at Rs.3,586 per gram.
July 2019- Week 4 (22-28):
- Fluctuations in local demand and conflicting overseas cues impacted gold rates in Delhi after the metal opened unchanged at Rs.3,586 per gram on 22 July.
- Prices climbed to Rs.3,591 per gram on 23 July as jewellers increased orders but a strengthening U.S. dollar rate capped gains as prices dipped to Rs.3,570 per gram on 24 July.
- Investors reduced offtake ahead of the U.S. Fed Reserve meeting and local demand failed to keep prices stable, as the metal ended the week at Rs.3,570 per gram on 28 July.
July 2019- Week 5 (29-31):
- The drop in retail demand failed to dent gold rates in Delhi, which opened at Rs.3,570 per gram on 29 July.
- Trade war tensions spilled over as markets remained volatile, bolstering bullion demand though prices remained unchanged.
- There was a marginal rise as the month drew to a close, with the yellow metal priced at Rs.3,575 per gram on 31 July.
Also Check Gold Price in Metro Cities
|Gold Rate Today In Bangalore||Today Gold Rate In Chennai||Today Gold Rate In Hyderabad|
|Today Gold Rate In Kolkata||Gold Rate Today In Mumbai||Gold Rate Today In India|
Trend of Gold Rate in Delhi for June 2019 (rates per gram of 24 karat gold)
|Parameters||Gold price (24 karat)|
|June 1 Rate||Rs.3,302 per gram|
|June 30 Rate||Rs.3,486 per gram|
|Highest Rate in June||Rs.3,305 per gram from 25-27 June|
|Lowest Rate in June||Rs.3,302 per gram on 1 and 2 June|
June 2019- Week 1 (1-9):
- Gold rate in Delhi rose sharply after opening at a lacklustre Rs.3,276 per gram with strong local demand and positive overseas cues bolstering demand.
- The threat of fresh U.S. tariffs against Mexico rattled equity markets as investors switched to bullion, resulting in gold rising to Rs.3,302 per gram on 3 June with prices remaining stable for a few days.
- Static local demand kept prices unchanged for a few days but gold price in Delhi rose to Rs.,3337 per gram on 7 June, with a late rally boosting rates to Rs.3,371 per gram on 9 June.
June 2019- Week 2 (10 - 16):
- The gold rate in Delhi remained unaltered from the end of week 1. At the start of week 2, the price still stood at Rs.3,371 per gram.
- A subdued dollar rate caused gold price to soar, and on 13 June, gold price in Delhi to Rs.3,339 per gram.
- Despite a rise in the U.S. dollar rate, gold rates continued to climb, trading at Rs.3,371 per gram on 15 June before surging to Rs.3,376 per gram on 16 June.
June 2019- Week 3 (17-23):
- The surge in global bullion demand boosted gold price in Delhi, though the metal opened at a static Rs.3,376 per gram on 17 June and remained constant till 19 June.
- Reports of an interest rate cut by the U.S. Fed bolstered bullion offtake as the U.S. dollar dropped, though the precious metal briefly dropped to Rs.3,371 per gram on 20 June.
- Gold rate in Delhi surged to Rs.3,444 per gram on 21 June as local retail sales rose on positive global cues, continuing to climb for the rest to week as the yellow metal traded at Rs.3,497 per gram on 23 June.
June 2019- Week 4 (24-30):
- Gold rate in Delhi saw some fluctuations as the dollar rate and global uncertainty impacted demand after the metal opened the week at Rs.3,486 per gram on 24 June.
- Gold Price in Delhi jumped to Rs.3,502 per gram on 25 June as war rhetoric between the U.S. and Iran increased bullion’s safe-haven appeal, though prices slid back to Rs.3,486 per gram on 28 June.
- Gold rose to Rs.3,502 per gram on 29 June as the ongoing G20 summit negotiations increased bullion demand but the month ended with the precious metal trading at Rs.3,486 per gram.
Trend of Gold Rate in Delhi for May 2019 (rates per gram of 24 karat gold)
|Parameters||Gold price (24 karat)|
|May 1 Rate||Rs.3,266 per gram|
|May 31 Rate||Rs.3,276 per gram|
|Highest Rate in May||Rs.3,281 per gram on 18 May|
|Lowest Rate in May||Rs.3,218 per gram on 4 May|
May 2019- Week 1 (1-5):
- As the constant fluctuations across equity markets continued, gold prices in Delhi dropped after opening at a steady Rs.3,266 per gram on 1 May.
- A momentary drop to Rs.3,260 per gram on 2 May was followed by a sharp fall to Rs.3,218 per gram on 4 May as encouraging export figures from China boosted equity offtake among investors.
- A low rupee made imports more expensive but a late rally by the yellow metal helped boost prices marginally as gold traded at Rs.3,229 per gram on 5 May.
May 2019- Week 2 (6-12):
- Gold prices in Delhi recovered from their steep drop the previous week as increased local and overseas offtake led to a spike in demand, though the metal opened unchanged at Rs.3,229 per gram on 6 May.
- Prices rose to Rs.3,239 per gram on 8 May as bullion demand rose on heightened market volatility after the U.S. threatened China with more trade tariffs.
- Sanctions against Iran over the nuclear agreement also rattled markets, as gold rates surged to Rs.3,250 per gram on 10 May, continuing to rise to Rs.3,271 per gram when the week ended on 12 May.
May 2019- Week 3 (13-19):
- Gold prices in Delhi recovered from their steep drop the previous week as increased local and overseas offtake led to a spike in demand, though the metal opened unchanged at Rs.3,228 per gram on 13 May.
- Prices rose to Rs.3,237 per gram on 14 May as bullion demand rose on heightened market volatility after the U.S. threatened China with more trade tariffs.
- Sanctions against Iran over the nuclear agreement also rattled markets, as gold rates surged to Rs.3,259 per gram on 16 May, continuing to rise to Rs.3,278 per gram when the week ended on 19 May.
May 2019- Week 4 (20-26):
- Falling demand for bullion impacted gold prices in Delhi, with prices falling sharply after opening unchanged at Rs.3,271 per gram on 20 May.
- Positive U.S. economic data and reducing investor interest in commodities saw the metal’s value to Rs.3,239 per gram on 22 May as local industrial and retail demand failed to maintain prices.
- The stand-off between the U.S. and Iran as well as Sino-U.S. trade talk failures bolstered the U.S. dollar as gold plunged to Rs.3,224 per gram on 24 May before recovering to end the week at Rs.3,250 per gram.
May 2019- Week 5 (27-31):
- After a relatively subdued opening of Rs.3,250 per gram on 27 May gold prices in Delhi rose on steady local offtake and rising overseas interest.
- A stable U.S. dollar rate capped some gains but a surge in local industrial demand saw prices rise to Rs.3,255 per gram on 29 May, with overseas investor demand also bolstering bullion.
- The failure of Sino-U.S. trade talks and impending sanctions on Chinese goods renewed fears of a global fallout as bullion demand surged, resulting in gold ending the month at Rs.3,276 per gram.
Trend of Gold Rate in Delhi for April 2019 (rates per gram of 24 karat gold)
|Parameters||Gold price (24 karat)|
|April 1 Rate||Rs.3,266 per gram|
|April 28 Rate||Rs.3,276 per gram|
|Highest Rate in April||Rs.3,276 per gram on 10, 12 and 28 April|
|Lowest Rate in April||Rs.3,229 per gram on 4, 5 and 20 April|
April 2019 - Week 1 (1-7):
- Gold prices in Delhi fluctuated significantly during the week after opening the month unchanged at Rs.3,266 per gram.
- Subdued industrial offtake and reduced retail demand due to a rising U.S. dollar rate saw prices plunge to Rs.3,239 per gram on 3 April.
- Prices plunged to Rs.3,229 per gram on 4 April on conflicting cues from U.S. jobs data and stagnant local demand before a weakening dollar helped gold rates rally to Rs.3,255 per gram on 7 April.
April 2019 - Week 2 (8-14):
- Gold rates in Delhi rose steadily after opening at Rs.3,255 per gram on 8 April, reaching Rs.3,276 per gram on 10 April on growing overseas demand due to a flagging U.S. dollar.
- The threat of U.S. trade sanctions against the European Union rattled markets but a recovering dollar capped gold gains as the metal fell to Rs.3,266 per gram on 11 April.
- Prices plunged to Rs.3,245 per gram on 13 April as Chinese industrial data led to a market rally and investor interest in bullion dropped before gold recovered to end the week at Rs.3,250 per gram.
April 2019 - Week 3 (15-21):
- As economic slowdown fears receded after encouraging economic data from the U.S. and China, demand for bullion fell dropped locally as well, with the precious metal trading at Rs.3,250 per gram on 15 April.
- Gold rates in Delhi dropped steadily during the week as retail offtake was poor due to the strengthening U.S. dollar, trading at Rs.3,245 per gram on 17 April before dropping further to Rs.3,239 per gram on 18 April.
- Prices plunged to Rs.3,229 per gram on 20 April on positive U.S.-China trade talks but dovish stances by leading Eurozone central banks helped gold edge up to Rs.3,234 per gram on 21 April.
April 2019- Week 4 (22-28):
- Reflecting trends seen across other cities, gold rates in Delhi rose marginally after opening flat at Rs.3,234 per gram on 22 April as rising industrial and retail demand boosted the metal’s profile.
- Gold surged to Rs.3,250 per gram on 23 April but dropped back to Rs.3,234 per gram on 24 April on conflicting cues, as the steady U.S. dollar capped local gains.
- Interest in bullion rose as global recession fears took hold after weak U.S. GDP data and the Iran-U.S. trade standoff weighed on markets, with the precious metal climbing to Rs.3,276 per gram on 28 April.
Trend of Gold Rate in Delhi for March 2019 (rates per gram of 24 karat gold)
|Parameters||Gold price (24 karat)|
|March 1 Rate||Rs.3,402 per gram|
|March 31 Rate||Rs.3,266 per gram|
|Highest Rate in March||Rs.3,402 per gram on 1 March|
|Lowest Rate in March||Rs.3,239 per gram on 30 March|
March 2019 - Week 1 (1-10):
- Weak overseas trends and a rising U.S. dollar rate pushed gold price in Delhi lower despite steady local demand, with the metal opening lower at Rs.3,402 per gram on 1 March.
- Gold price fell steadily as investors’ risk appetite grew on the possibility of a resolution to the Sino-U.S. trade crisis which resulted in a reduction in the gold’s safe-haven appeal, with prices falling to Rs.3,344 per gram on 5 March.
- Strong U.S. jobs growth and a delay in the European Central bank’s interest rate hikes led to a surge in the dollar rate as gold fell to Rs.3,292 per gram on 9 March before recovering marginally to trade at Rs.3,318 per gram on 10 March.
March 2019 - Week 2 (11-17):
- Gold rate in Delhi opened at a steady Rs.3,318 per gram on 11 March but poor demand from overseas and a rise in the U.S. dollar rate dented prices as the precious metal fell to Rs.3,302 per gram on 12 March.
- Despite steady industrial demand, weak investor interest saw gold price in Delhi drop to Rs.3,287 per gram on 13 March before rising to Rs.3,302 per gram on 15 March on uncertainty over the impending Brexit vote.
- A delay in Brexit and strengthening equity markets saw gold price drop to Rs.3,276 per gram on 16 March before a dovish stand by the U.S. Federal Reserve boosted gold to Rs.3,281 per gram on 17 March.
March 2019 - Week 3 (18-24):
- In line with trends across other cities, gold rates in Delhi rose marginally after some initial fluctuations with gold trading at Rs.3,281 per gram on 18 March.
- Prices dropped to Rs.3,260 per gram on 19 March as a steady rise in the U.S. dollar deterred local retail sales and jeweller demand, though overseas demand was consistent.
- Gold rose to Rs.3,276 per gram on 21 March as the U.K. looked set for a hard Brexit and markets tumbled, with the yellow metal rising further to close the week at Rs.3,308 per gram.
March 2019- Week 4 (25-31):
- Weak local demand and fluctuations in overseas demand saw gold prices in Delhi drop steeply during the week after opening at a stable Rs.3,308 per gram on 25 March.
- A recovering U.S. dollar and rising investor confidence in equities dented gold’s appeal as the metal fell to Rs.3,287 per gram on 28 March, with prices falling to Rs.3,276 per gram on 29 March as local demand also declined.
- A resolution to the Sino-U.S. trade dispute and strong economic data from China boosted the dollar as gold plunged to Rs.3,239 per gram on 30 March before prices marginally recovered to close at Rs.3,266 per gram on 31 March.
Trend of Gold Rate in Delhi for February 2019 (rates per gram of 24 karat gold)
|Parameters||Gold price (24 karat)|
|February 1 Rate||Rs.3,423 per gram|
|February 28 Rate||Rs.3,428 per gram|
|Highest Rate in February||Rs.3,465 per gram on 21 February|
|Lowest Rate in February||Rs.3,386 per gram on 8 and 9 February|
February 2019 - Week 1 (1-10):
- Gold price in Delhi opened at a steady Rs.3,423 per gram on 1 February and remained stable for a few days on strong local retail demand.
- Fluctuations in demand due to a strengthening dollar saw prices fall to Rs.3,418 per gram on 6 February as retail offtake failed to prop up prices as Asian orders fell sharply.
- Rising costs associated with a steady dollar rate resulted in a drop in industrial offtake as gold rate slid downwards for the rest of the week before closing at Rs.3,402 per gram on 10 February.
February 2019 - Week 2 (11-17):
- Gold rate in Delhi declined for most of the week before a late rally boosted the metal’s fortunes.
- The precious metal traded at Rs.3,402 per gram on 11 February but fell to Rs.3,360 per gram on 14 February on declining overseas demand as the dollar and equity markets rallied.
- Increased local retail sales kept prices stable as industrial demand dropped, with a falling rupee capping possible gains.
- Fears over Brexit and another possible U.S. government shutdown resulted in higher investor interest in the metal, which rose to Rs.3,423 per gram when the week ended on 17 February.
February 2019 - Week 3 (18-24):
- Positive local cues boosted gold price in Delhi despite a slowing down of overseas interest in the metal.
- Gold traded at Rs.3,423 per gram on 18 February before apprehensions over the impact of Brexit saw investors increase bullion stakes as gold price in Delhi rose to Rs.3,434 per gram on 20 February.
- Prices climbed to Rs.3,465 per gram on 21 February as local retail demand kept prices stable in spite of static demand from Asia.
- A more hawkish stance by the Fed Reserve raised investor confidence in equities and the dollar as gold rate dropped to Rs.3,418 per gram on 23 February before recovering to close at Rs.3,434 per gram on 24 February.
February 2019 - Week 4 (25-28):
- After a period of stability there was a drop in gold price in Delhi as market cues and declining industrial interest affected demand for the metal.
- Gold opened the week at Rs.3,434 per gram on 25 February as the ongoing Sino-U.S. trade talks had investors pull away from bullion as a caution.
- The U.S. dollar surged on news of a more hawkish address by the Fed Reserve and a standoff in the trade talks.
- Gold rate in Delhi dropped to Rs.3,428 per gram on 26 February with prices remaining unchanged when the week ended on 28 February as gold recorded an overall increase in value of 0.14% during the month.
Trend of Gold Rate in Delhi for January 2019 (rates per gram of 24 karat gold)
|Parameters||Gold price (24 karat)|
|Rate on 1st January 2019||Rs.3,234per gram|
|Rate on 31st January 2019||Rs.3,397per gram|
|Highest Rate in January 2019||Rs.3,397per gram on 31 January|
|Lowest Rate in January 2019||Rs.3,234 per gram on 1 January|
January 2019 - Week 1 (1 - 6):
- Increased overseas demand along with strong local jeweller orders boosted gold rate in Delhi, with the metal opening trading at Rs.3,234 per gram.
- The dollar continued to trade poorly as the government shutdown affected markets, resulting in higher interest in bullion.
- Strong local demand drove gold price to Rs.3,281 per gram on 4 January before a slight dip saw gold settle at Rs.3,276 per gram when the week ended on 6 January.
January 2019 - Week 2 (7 - 13):
- In line with trends seen across other cities, gold price in Delhi rose steadily as a weak dollar and volatile markets increased overall interest in bullion.
- Gold traded at Rs.3,245 per gram when trading opened on 7 January and fell marginally to Rs.3,239 per gram on 8 January due to fluctuating overseas demand.
- Gold price rose steadily as the government shutdown in the U.S. and Brexit negotiations rattled markets, with investors increasing bullion purchases.
- The gold rate in Delhi rose to Rs.3,266 per gram on 10 January before surging to Rs.3,297 per gram when the week ended on 13 January.
January 2019 - Week 3 (14 – 20):
- Gold price in Delhi echoed trends seen across other cities, as burgeoning demand from jewellers and positive market cues raised the precious metal’s value.
- The precious metal was priced at Rs.3,297 per gram when trading opened on 14 January and prices quickly rose, boosted by rising Asian demand and increased orders from investors.
- Industrial demand was on the rise as the Sino-U.S. trade dispute neared resolution as gold rate in Delhi rose to Rs.3,318 per gram on 16 January.
- Continued reliance on bullion by overseas investors due to turbulent financial markets further raised gold rate in Delhi, which closed at Rs.3,334 per gram on 20 January.
January 2019 - Week 4 (21-27):
- Interest in gold saw significant fluctuations this week as geopolitical crises in Venezuela and the ongoing U.S. government shutdown increased demand for safe-haven gold.
- Gold traded at Rs.3,334 per gram on 21 January before dropping steeply to Rs.3,308 per gram on 23 January on poor investor offtake ahead of the U.S Federal Reserve meeting.
- Gold rate in Delhi rose as local and global demand for the metal rose as markets dropped on news of the political uncertainty in Venezuela to close the week at Rs.3,344 per gram on 27 January.
January 2019 - Week 5 (28-31):
- Strong overseas cues and steady local demand boosted gold price in Delhi with the metal opening at Rs.3,344 per gram on 28 January.
- Continued tensions over the Venezuelan political crisis shook equity markets as investors turned to bullion as a safe-haven, raising prices to Rs.3,355 per gram on 29 January.
- An easing of the monetary tightening policy by the Federal Reserve also bolstered gold demand with prices surging to Rs.3,397 per gram on 31 January to record a rise of 5.04% over the course of the month.
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
|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|
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.
Also Check Petrol Price and Diesel Price in Mumbai
Read more on Gold
- Which Day Is Good To Buy Gold in Year 2019
- 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