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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 May 2017 (rates per gram for 24karat gold)
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.
Trend of Gold Rate in Delhi for April 2017 (rates per gram for 24karat gold)
|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.
|December 1st Rate||Rs.2,893 per gram|
|December 31st Rate||Rs.2,844 per gram|
|Highest Rate in December||Rs.2,893 per gram on 1st and 2nd December|
|Lowest Rate in December||Rs.2,800 per gram from 23rd to 28th December|
December 2016 - Week 1 (1st to 4th)
- Gold price situation in the national capital too remained more or less the same.
- It traded at Rs.2,893 at the beginning of the week on December 1st and continued to be the same on December 2nd too.
- December 3rd, however, saw a noticeable decrease in gold prices as it went down by Rs.6 to hit Rs.2,887.
- At the end of the week, gold prices traded at Rs.2,887, same as the previous day.
December 2016 - Week 2 (5th-11th)
- The national capital didn’t see much of a fall for most of the week, but when the prices fell, they fell hard.
- Gold began trading at Rs.2,887 per gram at the beginning of the week on December 5th and remained the same till the end of December 7th.
- On December 8th, the gold prices increased slightly to hit Rs.2,892 per gram, and continued to be so till the end hours of December 9th.
- On December 10th though, prices fell considerably hard by Rs.28 to hit Rs.2,864 per gram. Prices remained the same at the end of the week on December 11th.
December 2016 - Week 3 (12th to 18th)
- National capital Delhi didn’t see any major change in gold prices as they saw some fluctuations only twice throughout the week.
- Gold traded at Rs.2,864 at the beginning of the week on December 12th and continued to be the same till December 14th.
- On 15th gold prices decreased by Rs.42 per gram as it traded at Rs.2,822 per gram.
- At the end of the week, gold prices remained the same as on the 15th and stood at Rs.2,822 per gram.
December 2016 - Week 4 (19th to 25th)
- As India was left relatively cashless courtesy of demonetisation, demand for gold wasn’t on a high.
- The week in Delhi started with gold trading at Rs.2,822 per gram.
- For much of the week till the 22nd, gold rates remained at Rs.2,822 per gram, same as on the 19th.
- On the 23rd, however, gold prices decreased to round off at Rs.2,800 per gram and went on remain so till the end of the week on 25th.
December 2016 - Week 5 (26th to 31st)
- The demand for gold was muted due to demonetisation leading to a shortage of funds in the economy.
- Gold was priced at Rs.2,800 per gram on 26th December, with the price staying constant till the 28th.
- Prices rose marginally on 29th December, with gold trading at Rs.2,833 per gram as the deadline for the exchange of old demonetised currency drew close.
- Prices rose as the month ended, with gold trading at Rs.2,844 on the 30th and 31st of December.
|1st November rate||Rs.3,099 per gram|
|30th November rate||Rs.2,941 per gram|
|Highest rate in November||Rs.3,213 per gram on 5th and 6th November|
|Lowest rate in November||Rs.2,929 per gram on 25th to 27th November|
November '16 - Week 1 (1st to 6th)
- Gold traded at Rs.3,099 per gram on 1st November.
- The constant trend was broken this week as prices started to climb.
- The festive season and wedding season resulted in high demand in the domestic market.
- The U.S. Federal Reserve has signalled for a rate hike in December.
- Prices climbed to Rs.3,213 per gram on 5th and 6th November, the highest price for this week.
November '16 - Week 2 (7th to 13th)
- Gold traded at Rs.3,211 per gram from 7th to 10th November.
- There was steady demand for gold in the domestic market on account of the wedding season.
- Prices started to fall on 11th November owing to rising expectations of the Fed rate hike.
- On the domestic front, the ban on Rs.500 and Rs.1,000 notes led to gold purchases declining.
- Prices of gold fell to Rs.3,071 per gram on 11th November and remained unchanged for the rest of the week.
November '16 - Week 3 (14th to 20th)
- Gold continued to trade at Rs.3,071 per gram from 13th to 16th November.
- Cash shortage in the country on account of demonetisation led to a fall in demand this week.
- Prices of gold dropped further to Rs.2,994 per gram by the end of the week.
- The dollar weakened in the global market leading to a rise in demand for gold but this had no effect on the domestic market trends.
- Gold prices are expected to stay down till the economy stabilises and cash supply returns to normal.
November '16 - Week 4 and 5 (21st to 30th)
- Cash crisis in the nation took a tremendous toll on the gold this week which saw a 75% drop in business.
- Gold traded at Rs.2,994 per gram at the start of the week.
- Prices of the metal declined as domestic trends coupled with a rising dollar did not work well for gold.
- Gold traded at Rs.2,941 per gram in the last week on November.
- Even though the wedding season is at its peak, demand for gold has been low on account of demonetisation.
|1st October rate||Rs.3,205 per gram|
|31st October rate||Rs.3,099 per gram|
|Highest rate in October||Rs.3,205 per gram on 1st to 4th October|
|Lowest rate in October||Rs.3,088 per gram on 6th October to 25th October|
October '16 - Week 1 (1st to 7th)
- Steady demand in the domestic market helped gold prices stay stable at the start of the week.
- Gold traded at Rs.3,205 per gram from 1st to 4th October.
- Prices of gold slipped drastically as talk of a Fed rate hike grew louder.
- In the domestic market, strict tax laws and an RBI rate cut dampened the demand for gold.
- Gold prices started to fall on 5th October and by the end of the week, gold was trading at Rs.3,088 per gram.
October '16 - Week 2 (8th to 14th)
- Gold prices continued to trade at Rs.3,088 per gram for the entire week.
- Global trends were positive with the anticipation of a Fed rate hike moving slowly.
- There was a steady flow of demand from jewellers and retailers in the domestic market.
- Even though gold rates fell globally at the end of the week, prices were able to stay constant in Delhi.
October '16 - Week 3 (15th to 21st)
- The constant trend of gold rates in Delhi continued this week.
- Firm trends overseas coupled with a steady inflow of demand in the domestic market gave support to gold prices.
- Gold traded at Rs.3,088 per gram throughout the week.
- The wedding season is expected to boost demand for gold.
October '16 - Week 4 (22nd to 28th) & Week 5 (29th to 31st)
- Gold rates in Delhi have continued to trade at a steady pace.
- Gold traded at Rs.3,088 per gram from 22nd October till 25th October.
- Demand for the yellow metal picked up by 26th October as the dollar weakened in the global market.
- On the domestic front, demand spiked amid the festive season.
- Gold prices climbed to Rs.3,099 per gram on 26th October and remained unchanged till the end of the month.
- The Fed rate hike is expected to take place gradually which increased the safe-haven appeal of gold.
- With the wedding season approaching, domestic jewellers have increased their intake in preparations to meet high demand.
|1st September rate||Rs.3,184 per gram|
|30th September rate||Rs.3,217 per gram|
|Highest rate in September||Rs.3,228 per gram on 7th to 12th September|
|Lowest rate in September||Rs.3,184 per gram on 1st and 2nd September|
September '16 - Week 1 and 2 (1st to 10th)
- Gold traded at relatively stable rates this week.
- Gold prices were Rs.3,184 per gram on 1st September after which it climbed to Rs.3,195 per gram on account of lowered expectations of a rate hike by the U.S. Federal Reserve.
- Stable domestic demand and weak U.S. economic data kept prices at Rs.3,228 per gram by the end of the week.
September '16 - Week 3 (11th to 17th)
- U.S. Federal Reserve officials were confident that the economy could handle an interest rate hike this month despite weak data in the recent months.
- Gold prices fluctuated this week as demand for gold fell as it lost its safe haven appeal.
- Gold traded at Rs.3,228 per gram on 11th September.
- Prices climbed to Rs.3,216 between September 13th and 15th, but was quick to fall again on 16th September, buckling under the pressure of global trends.
September '16 - Week 4 (18th to 24th)
- As the U.S. presidential elections are underway, the U.S. Federal Reserve has decided to not raise interest rates for now. The targeted window for a rate hike is December.
- The market saw bullish signs and rates started to climb.
- Gold traded at Rs.3,195 per gram at the beginning of the week.
- By 22nd September, gold prices reached Rs.3,227 per gram and stayed constant for the rest of the week.
- Domestic demand is expected to remain strong.
September '16 - Week 5 (25th to 30th)
- Amid a bearish atmosphere in the global markets, gold prices dropped this week.
- The dollar gained strength as the U.S. consumer market gained confidence.
- Gold traded at Rs.3,227 per gram from 25th to 28th September.
- Prices plummeted to Rs.3,207 per gram on 29th September.
- Demand in the domestic market also fell in result of global trends.
|1st July rate||Rs.3,219 per gram|
|31st July rate||Rs.3,205 per gram|
|Highest rate in July||Rs.3,248 per gram on 10th August|
|Lowest rate in July||Rs.3,206 per gram on 6th to 9th August|
August '16 - Week 1 (1st to 7th)
- The price of gold was stable for the first three days in August as domestic demand did not reflect overseas trends.
- Gold was trading at Rs.3,219 per gram on the 1st of August and Rss.3,206 per gram on the 7th of August.
- Prices rose to a high of Rs.3,247 per gram as domestic demand picked up and the equity market was still recovering from the previous week’s poor U.S. GDP rates forecast.
- As data from the NFP was higher than expected, markets rallied, resulting in gold demand dropping.
August '16 - Week 2 (8th-14th)
- Gold rates were relatively stable through the week.
- Gold traded at Rs.3,206 per gram at the beginning of the week and experienced minor fluctuations during the week.
- As the festival season dawns upon India, buyers flocked to buy gold leading to a spike on 10th August when gold traded at Rs.3,248.
August '16 - Week 3 (15th-21st)
- The trend from last week continued into the third week as gold traded at constant rates with a slight incline in prices.
- Gold traded at Rs.3,226 per gram on 15th August and climbed to Rs.3,236 per gram.
- Prices settled at Rs.3,238 per gram on 18th August and stayed steady till the end of the week on account of sustained demand in the domestic market.
August '16 - Week 4 (22nd-28th)
- Gold rates dropped drastically this week as the dollar gained its strength.
- Amidst growing expectations of a Fed rate hike, investors were deterred from purchasing gold.
- Gold traded at Rs.3,238 per gram for majority of the week owing to a rise in domestic demand on account of the upcoming festive season.
- Gold dropped to Rs.3,205 per gram by the end of the week.
August '16 - Week 5 (29th-31st)
- Gold rates in Delhi held steady amid a gloomy global market.
- Gold traded at Rs.3,205 per gram throughout the week.
- Gold rates dropped as the month of September began.
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
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- 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
News About Delhi Gold Rate
Gold Prices Slide As Markets Rise
The price of gold has begun to fall due a decline in interest by investors, who are moving out of safe havens in favour of riskier ventures. The relative stability of the Korean crisis and the waning of the cloud of political risk over Europe have bolstered investor risk appetite in the past few days.
Gold futures were priced at $1,225 for a troy ounce on 9th May, 2017 in New York, which was 5% lower than the rates in April 2017 for the same period. The U.S. interest rates being stable and the recent announcement by the U.S. Federal Reserve on the economic slowdown being temporary are also seen as reasons for the decline in demand for gold. The projection for April also saw an upward revision as more jobs were created in the United States. This, coupled with the victory of Macron in the French presidential elections, steadied a shaky market and led to increased trading and a decrease in demand for bullion.
10th May 2017
Yellow metal loses lustre in national capital
The demand for gold saw a drop in the national capital as prices dipped by Rs 175 for the seventh consecutive day.
Prices stood at Rs 28,550 and Rs 28,400 for gold of 99.9% and 99.5% purity, respectively. The yellow metal lost Rs 825 in the last six days.
The local demand for the precious metal declined even as international markets saw a slight increase. On the other hand, silver too saw a decline of Rs 225, reaching Rs 38, 350 per kg. The peak in the global market, analysts say, will pull back the fall in local markets.
9th May 2017
Jewellers request for 1.25% GST to be levied on gold jewellery
Business was quite low on Akshaya Tritiya due to the cap of Rs.2 lakh on cash transactions and considering the same after the effects of demonetization, jewellers are starting to worry about the current environment. Traders now wish to receive a special slab for all gold jewellery in the GST regime that is supposed to begin on the 1st of July.
They have asked the Centre to fix a tax rate at 1.25% for all ornaments that are made of diamond, gold or other precious materials. The current tax regime, gold jewellery has 1% VAT and 10% customs duty on imported gold.
2nd May 2017
Price of Gold goes below INR 30000 mark
Price of gold went below Rs.30,000 recently. At present, it stands at Rs.29,650 for 10 grams, which means that there has been a reduction in the prices by Rs.350. Silver prices also went down by Rs.100 and the price of silver at present stands at Rs.41,600 per kilogram. The yellow metal tumbled 1.5% globally to USD 1,265.51 per ounce in Singapore.
24th April 2017
Gold price goes down due to slack demand from the local jewellers
Due to slack demand from the local jewellers, the prices of gold went down by Rs.50 per 10 gram. At present, the cost of gold for 10 grams is Rs.29,900. Silver prices went down too and eased by Rs.50. At present, the price of silver is Rs.42,950 per kilogram. The pressure of the prices of gold and silver was kept up by the slack demand from the local jewellers.
There was an increase of 0.07% per ounce for gold in the global market. Silver rates, on the other hand, increased by 0.22% per ounce in Singapore. Sovereign stayed at Rs.24,500 for each piece of 8 grams.
17th April 2017
Gold rates reduce on firmer dollar globally
Rate of gold fell on the 3rd of April due to a firmer dollar and investors booking profits after the best quarter was recorded by bullion in a year last week. Rate of spot gold was lower by 0.23% at $1,245.71 an ounce and US gold futures fell by 0.3% at $1,247.5. The dollar index became stronger by 0.25% against a number of major currencies.
According to a Federal Reserve official, the U.S. Fed could put a hold on the interest rate hike once it starts shedding bond holdings which is a move that would benefit this precious metal. The rate of gold is highly dependent on interest rates.
3rd April 2017
Gold prices stay stable as equities slide on Trump policy issues
Gold prices were close to a near 3-week high buoyed as the value of the dollar reduced and equities fell on doubts over the economic agenda of U.S. President Donald Trump. Spot gold increased by 0.1% at $1,245.21 per ounce. The dollar index was down by 0.1%. Asian stocks fell last week due to a sharp pullback in Wall Street due to doubts regarding Trump’s economic agenda which forced investors to rush to safe haven assets.
Holdings of the SPDR Gold Trust which is the largest gold-backed exchange-traded fund in the world increased by 0.50% to 834.40 tonnes.
22nd March 2017
Gold Prices Fall Below Rs.29,000
Traders revealed that apart from weak demand, gold was hard hit by a higher possibility of an increase in the Fed rates in addition to a general decline in appeal for precious metals. Internationally, the price of gold declined 0.4% to US$1,196.24 per ounce, which made it the lowest recorded rate since the 31st of January in Singapore. Moreover, a decline in demand from domestic retailers and jewellers at local spot market instigated the downtrend. The price of 99.9% gold in Delhi fell by Rs.400 to Rs.28,850, while the price of 99.5% pure gold also declined by the same amount to settle at Rs.28,700 per 10 grams, which made it the lowest price since the 7th of January. The price of the precious metal fell by Rs.850 over the past four days.
14th March 2017
Gold prices hit a new monthly low
After undergoing a tumultuous period in November, gold prices hit their lowest rates this month as the US dollar is strengthening.
Another aspect that has contributed to the drop in gold prices it he recent interest rate hike introduced by the US Federal Reserve for the third time since the year 2006.
This rate decrease is turning into a cause of concern for gold miners as they are going falling back into the negative territory, having seen a decrease of 20% in the last month alone.
10th March 2017
Gold Falls to Below Rs.30,000 As Silver Keeps Pace at Rs.43,000
The price of gold fell to below Rs.30,000 for 10 grams on march 6th, 2017 as weak overseas demand and a decline in local demand pushed prices low. Gold fell by Rs.350 to trade at Rs.29,750 for 10 grams on 6th March as local jewellers also reduced demand. Silver prices also sae a decline in price, falling by Rs.300 to trade at Rs.42,800 per kg on 6th March due to reduced offtake from industry and coin makers. While gold prices dropped, sovereign prices remained steady, trading at Rs.24,500 per 8-gram piece. Silver coins also plummeted, trading at Rs.73,000 for 100 pieces. The end of the wedding season and weak trends overseas were the main factors that contributed to the drop in gold and silver prices. Global gold prices also fell, with gold trading at $1,231.90 per ounce in Singapore, while silver traded at $17 an ounce.
9th March 2017
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