Gold Rate In Delhi Today

*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

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 May 2020 (rates per gram of 24 karat gold)

May 2020 - Week 1 (1 - 9):

• Gold rate in Delhi opened the first week of May at Rs.4,476 per gram. Compared to the closing price of the previous month, the rate of the gold was down by Rs.237 for every gram. The decline in the rates was accounted to investors booking profits on growing optimism that coronavirus lockdowns will be eased.
• The price of the gold in Delhi climbed to its highest for the month on 4th May. A gram cost Rs.4,702 in the national capital as U.S. president’s threat to impose tariffs on China over the coronavirus crisis overshadowed optimism about economies easing lockdown measures.
• Over the next couple of days, gold prices slipped in Delhi. The decline in the price was accounted to equities rising on upbeat risk sentiment.
• Gold price in Delhi closed the opening week of May at Rs.4,602 per gram in the national capital. The overall performance of the gold witnessed an incline in the rates.

May 2020 - Week 2 (10-16):

• In the capital city of the country, gold opened the second week of the month at Rs.4,621 per gram on 10 May and showed a positive trend in its prices throughout the week, increasing marginally to Rs.4,622 per gram on 11 May. The rise in gold rate in Delhi was majorly due to the increasing trend of COVID-19 cases all over the world. With the second wave of infections at a high, safe-haven demand for the metal increased in the international markets.
• Rising to Rs.4,636 per gram on 12 May, gold price in Delhi showed a continuous inclining trend, further increasing to Rs.4,671 per gram on 13 May. With investors having a lower risk appetite and stock market taking heavy hits, the metal’s price on 14 May increasing to Rs.4,696 per gram with various stimulus packages released by central banks all over the world giving bullion prices a major boost.
• Gold price in Delhi on 15 May increased to a great extent and crossed the Rs.4,700 per gram mark, priced at Rs.4,721 per gram with speculations rising in the economy with trade tensions between China and the United States of America affecting the risk appetite of investors. Gold prices on the next day hit the highest price of the month and the week at Rs.4,781 per gram on 16 May, closing the week at the same price, with trade disputes between the two economic superpowers affecting the global economy.

May 2020 - Week 3 (17 - 23):

• In Delhi, gold opened the third week of May at Rs.4,851 per gram. There was an increase of Rs.70 for every gram when compared to the closing price of the previous week. The rates increased over the next three days as dismal U.S. data underscored how badly the coronavirus pandemic has damaged the world’s top economy.
• Gold recorded its highest price for the month on 20th May with a gram of the yellow metal costing Rs.4,897 in the national capital. The jump in the rates was accounted to investors seeking the safe-haven bullion on fears of prolonged global economic weakness.
• Gold rates dipped in the Delhi over the next couple of days as the metal’s safe-haven appeal was dented. The rates dropped to Rs.4,770 per gram in 22nd May before witnessing a minimal increase and closing the penultimate week of the month at Rs.4,771 in the city. Gold’s overall performance in Delhi witnessed an inclining trend in the rates.

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

April 2020 - Week 1 (1 - 4):

• With the novel pandemic Coronavirus spreading all over the world, traders resorted to selling off their assets to hoard cash in the last week of March, resulting in gold price in Delhi hitting new lows. However, due to its safe-haven demand, the gold prices increased gradually and opened the month of April at Rs.4,253 per gram on 1 April.
• The gold rate remained steady in the city of Delhi throughout the week even though there were constant fluctuations in its price in the global markets. With physical buying and selling of the metal being limited, the gold prices have been stagnant for the past days.
• With the rising value of the dollar in the international market, gold price had begun to dip yet again, however, a poor job data from the United States of America limited the gain of the dollar and gold price increased due to its safe-haven demand. The gold was valued at Rs.4,253 per gram on 4 April.

April 2020 - Week 2 (5 -11):

• Gold rate in Delhi on second week of April at Rs.4,253 per gram. This was the lowest rate of gold in Delhi for the month till date. The rates climbed to Rs.4,427 per gram on 7th April as the U.S. dollar and global equities strengthened given signs of a slowdown in coronavirus-related deaths across the world.
• The gold rate jumped further the next day as the precious metal gained in volatile trade amid weakening appetite for risk as increasing number of coronavirus-related deaths diminished hopes for a swift containment of the deadly virus. A gram of the 24-karat gold cost Rs.4,463 in the city.
• Gold price in Delhi slipped following that before increasing due to safe-haven buying ahead of a long weekend on account of Good Friday and a meeting of top oil producers which was aimed at stemming a market slump.

April 2020 - Week 3 (12 - 18):

• Gold rate in Delhi opened the third week of the month at Rs.4,462 per gram and increased throughout the week. With speculations of a possible recession from traders along with the negative effect of COVID-19 on the market, gold prices hit near 7-year highs due to its continuous safe-haven appeal. On 13 April, the price of the metal increased to Rs.4,498 per gram due to panic-stricken investors shifting towards the bullion market as a safe haven.
• On 14 April, the price of gold in Delhi increased further to Rs.4,511 per gram and further to Rs.4,581 per gram on 15 April. The rise in prices was due to positive trends in the global market along with safe-haven demand of the metal rising and investors investing in the bullion market. On 16 April, a gram of gold was priced at Rs.4,592 per gram, increasing marginally as investors shifted to the bullion market amidst the measures taken by the Central Banks to counteract the effect of the virus on the economy.
• Hitting the highest price of the week and the month, gold was priced at Rs.4,611 per gram on 17 April due to fears of recession by investors. However, on 18 April, the price of the metal dipped substantially at Rs.4,465 per gram with Donald Trump, President of the United States of America announcing measures to restart the economy in the country. With an increased risk appetite, investors shifted to the stock market, resulting in gold prices dropping.

April 2020 - Week 4 (19 - 25):

• Gold price in Delhi opened the fourth week at Rs.4,456 per gram. The rate for every gram was down by Rs.9 when compared to the closing price of the previous week.
• The rate of gold slipped in Delhi over the next few days as it was dragged by a firmer dollar amid doubts over the plans of the United States to reopen the world’s largest economy given that the coronavirus pandemic shows no signs of easing. As of 22nd April, a gram of the 24-karat gold was retailed for Rs.4,446 in the city.
• Gold rates climbed following that as growth fears boost demand. The precious metal was on track for a weekly rise given the stimulus measures announced by the central banks and investor’s appetite for a safe haven. The precious metal closed the week at Rs.4.592 per gram with the overall performance showing an inclining trend.

April 2020 - Week 5 (26 - 30):

• In Delhi, gold prices opened the month at Rs.4,603 per gram on 26 April and increased to Rs.4,780 per gram on 27 April. In the international market, the price of gold showed major fluctuations with investors with higher risk appetite shifting to the stock market, amidst speculations of restarting the economy in the United States of America.
• On 28 April, the price of gold dipped marginally to 4,766 per gram with various countries were in talks of easing the lockdown restrictions including India. With this, investors shifted to the stock market with higher risk appetite. However, gold prices in Delhi hit its highest of the week and the month at Rs.4,826 per gram on 29 April.
• At the end of the week, gold price dipped after hitting its highest price of the month and closed the month at Rs.4,703 per gram on 30 April as investors in the country took to profit booking with the higher price of the precious metal. In the international market, the metal’s prices increased in the last day of the month set to hit its highest price after the United States Federal Reserve decided to keep the interest rates at a low given the fragile state of the economy.

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

March 2020 - Week 1 (01 - 07):

• In the capital city, gold prices opened the month of March at Rs.4,274 per gram and closed at Rs.4,536 per gram. The gold hit its highest price in 7 years in the first week of the month. The gold prices held steady at Rs.4,274 per gram on 2 March as positive economic data from the United States of America capped the metal’s gains. On 3 March, the gold rate was Rs.4,284 per gram increasing marginally by Rs.10. This was majorly due to investors expecting a rate cut by the Central Banks of countries to balance the effect of the virus on the economy.
• Gold prices on 4 March had increased to Rs.4,305 per gram which was an increase by Rs.21 in just one day. This was due to the emergency decision taken to cut the interest rates by the United States Federal Reserve. However, on the same day, the price of the gold had dipped marginally with the steady value of the U.S. dollar in the global markets.
• On 5 March, the price of the gold had increased to Rs.4,452 per gram increasing by over Rs.100. This was due to increased safe-haven demand amongst investors along with increasing local demand due to the wedding season in the country. However, by 6 March, the metal’s prices had dipped marginally to Rs.4,436 per gram due to a subdued local demand even though the price of the gold had increased in the global market. However, on 7 March, the price of the metal rose to Rs.4,537 per gram increasing by Rs.100 and closing at the same price.

March 2020 - Week 2 (8 - 14):

• Gold prices opened the second week of March at Rs.4,510 per gram in New Delhi. There was a drop of Rs.26 per gram in the rates of the yellow metal when compared to the closing price of the previous week. The rates remained unchanged for the next day even though gold prices jumped past the level of $1,700 per ounce in the international market.
• As risk sentiment improved and the dollar firmed on expected global support measures to reduce the economic impact due to coronavirus, the rates of gold slipped to Rs.4,499 per gram on 10 March.
• Increased concerns about the economic impact due to coronavirus after world health officials declared it a pandemic and many countries taking preventive measures like restricting public gatherings to combat the spread of the virus resulted in a decline of the prices from 12 March.
• With gold prices headed for its biggest weekly loss since 1983 with investors embarked on a selling spree in a bid to accumulate cash and meet margin calls across other markets hurt by the impact of coronavirus, the rates closed the week at Rs.4,237 per gram, the lowest for the month till date.

March 2020 - Week 4 (22 - 31):

• In Delhi, gold opened the fourth week of March at Rs.4,253 per gram. Compared to the previous week’s closing price, the rates were up by Rs.63 for every gram.
• The rates of the yellow metal didn’t see any change over the week in the national capital after opening the week with a decent increase. The rates remained unchanged even though the rates of the precious metal did fluctuate in the global market as investors liquidated their positions in the safe-haven metal despite stimulus measures being announced by global central banks in a bid to combat the economic damage caused by the coronavirus pandemic.
• Gold closed the final week of March at Rs.4,253 per gram in Delhi. The rates remaining unchanged in the city can also accounted to the 21-day lockdown imposed across the country by the government in a bid to contain the spread of the deadly virus. The overall performance of the precious metal witnessed a declining trend.

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

February 2020 - Week 1 (1 - 9):

• With the Coronavirus spreading like wildfire, the price of gold opened the month of February at Rs.4,169 per gram on 1 February. The metal showed an overall decline in the month due to the measures taken by China to fight the virus’ effect on the economy. The gold price remained steady in the nation’s capital at Rs.4,169 per gram.
• On 4 February, gold hit the highest price of the month at Rs.4,195 per gram due to the fear of the virus amongst investors. However, there was a marginal drop in gold prices at Rs.4,158 per gram on 5 February with China’s effort to counter the effect of the virus. On 7 February, the metal hit its lowest prices in the week at Rs.4,116 per gram.
• However, at the end of the week, gold prices recovered marginally as the fears of the virus escalated and the equities hit highs as well. Investors also awaited the development on the economic data from the United States of America to understand the health of the country due to the virus. On 9 February, the metal closed at Rs.4,148 per gram.

February 2020 - Week 2 (10 - 16):

• In Delhi, gold prices stood at Rs.4,148 per gram on 10 February. Compared to the previous week’s closing price, the rates of the precious metal didn’t see any change in the national capital.
• With investors’ risk appetite picking up due to reports of a decline in new coronavirus cases, the rates of gold eased. A gram of the 24-karat gold was sold for Rs.4,142 on 13 February.
• The rates increased following that as investors sold equities and sought the safety of the bullion due to an increase in the death toll and infections due to coronavirus. Gold closed the second week of February at Rs.4,211 per gram with the overall performance showing an incline in the prices.

February 2020 - Week 3 (17 - 23):

• In the capital city of the country, gold prices opened the third week at Rs.4,211 per gram with no change in prices when compared to the previous session. The price of the metal, however, inclined through the week on increased safe-haven demand along with local demand due to the wedding season.
• The price of the metal held steady on 17 February and decreased to Rs.4,195 per gram on 18 February due to the value of the dollar increasing marginally in the global market, decreasing the value of the rupee. This price held steady on 18 February as well and increased to Rs.4,237 per gram on 20 February. Following the global trend in prices, gold edged higher to Rs.4,268 per gram on 21 February.
• In the second half of the week, the price of the metal increased marginally to Rs.4,300 per gram due to the outbreak of the virus escalating all over the world including countries like Italy and South Korea. The price of the metal increased further and closed the week at Rs.4,368 per gram on 23 February.

February 2020 - Week 4 (24 to 29):

• Gold prices opened the final week of February at Rs.4,368 per gram in Delhi. There was no change in the prices of the yellow metal when compared to the rates charged on the last day of the previous week.
• The rates climbed to Rs.4,394 per gram on 25 February as investors booked profits after gold prices soared to a seven-year high the previous day. This was the highest recorded price for the metal over the month.
• Having stayed constant for the next day, the rates slipped in the national capital on Thursday as a warning from the United States over the domestic spread of coronavirus outbreak ratted global markets.
• The price of the yellow metal increased as investors sought refuge in safe-haven assets following the US warning of an inevitable pandemic. As of 28 February, a gram of the 24-karat gold cost Rs.4,379 in the capital before closing at Rs.4,368 per gram as investors booked profits from a 1% jump in the last session. Over the month, gold’s overall performance in the prices showed an incline in the 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.

January 2020 - Week 4 (20 - 26):

• The rates of gold started the fourth week of January at Rs.4,074 per gram in the national capital. There was no change in the prices of the yellow metal when compared to the previous week’s closing price.
• Over the next couple of days, gold prices climbed to Rs.4,116 per gram in the city with investors seeking refuge in the safe-haven metal rates. This came amid concerns regarding tensions in the Middle East and the outbreak of coronavirus in China.
• Gold prices slipped the next day in Delhi as investors assessed the risk of coronavirus becoming a global epidemic. The rates closed the week at Rs.4,142 per gram.

January 2020 - Week 5 (27 - 31):

• Amidst the tensions hovering around the deadly Coronavirus, gold prices showed a positive trend in the global markets due to increased safe haven demand. The price of the metal opened the fifth week of the month at Rs.4,142 per gram on 27 January.
• The price of the metal increased on 28 January to Rs.4,153 per gram as the fears amongst investors increased due to the virus outbreak. The investors also awaited on further developments on rate cuts by the United States Federal Reserve.
• Gold prices in the city dipped drastically to Rs.4,116 per gram as investors waited on the rate cuts by the United States Federal Reserve. On this day, the metal hit its lowest price in the week. However, the metal recovered soon after and closed the week and the month at Rs.4,169 per gram with an overall incline in prices.

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.

Also Check Petrol Price and Diesel Price in Mumbai

Read more on Gold

• Auspicious Days to Buy Gold in 2020
• Akshaya Tritiya – An Auspicious Day to Buy Gold
• 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