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Gold Price in Delhi
| Trend of Gold Rate in Delhi in 5 Months |
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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 June (rates per gram of 24 karat gold)
June 2018 - Week 1 (1st - 10th)
- Gold was priced at Rs.3,166 per gram when trading began in Delhi for the month of June.
- This dropped to Rs.3,155 per gram the next day as cues from the global market remained weak after a stronger than expected US jobs data.
- On the 3rd, gold continued to trade at Rs.3,155 per gram as demand was steady in the local market while they fell in other major cities.
- The 4th saw gold rate in Delhi continue at Rs.3,155 per gram as local demand was holding steady.
- On the 5th, gold pricein Delhi dropped to Rs.3,145 per gram after the dollar overpowered other apex currencies and markets almost improved.
- The 6th, however, gold rates go up to Rs.3,150 per gram after the latest improvement in dollar was capped by other uncertainties with the latest regarding the G7 summit.
- Gold rates rose to Rs.3,155 per gram on the 7th before falling to Rs.3,150 per gram the next day.
- The 9th recorded a significant rise in prices and gold traded at Rs.3,187 per gram - a whopping Rs.37 rise after Donald Trump decided to openly criticise other G7 nations over the trade policy.
- Demand was steady on the final day of the week and the metal still traded at Rs.3,187 per gram.
Trend of Gold Rate in Delhi for May 2018 (rates per gram for 24 karat gold)
| Parameters | Gold price (24 karat) |
| May 1 Rate | Rs.3,192 per gram |
| May 31 Rate | Rs.3,187 per gram |
| Highest Rate in May | Rs.3,234 per gram on 14 May |
| Lowest Rate in May | Rs.3,171 per gram on 18 May |
| Overall Monthly Performance | Decline |
| Percentage Change | -0.15% |
May 2018 - Week 1 (1st - 6th)
- In the national capital, the month began with the yellow metal prices holding at Rs.3,192 per gram on the 1st after the rising dollar and equities market led to a decline in gold prices.
- With the US dollar strengthening further ahead of the US Federal Reserve meeting, gold rates in Delhi dropped to Rs.3,176 per gram on the 3rd.
- Prices remained untouched at Rs.3,176 per gram the next day with demand stabilising amid the steady dollar value.
- However, the central bank’s decision to gradually increase the interest rates gradually proved to be dovish. This led to the US greenback losing significant ground against other emerging currencies and gold prices improved as the week progressed.
- The week came to an end with the bullion priced at Rs.3,197 per gram on the 6th amid positive overseas trends.
May 2018 - Week 2 (7th - 13th)
- Delhi’s gold trading for the week remained largely consistent for the initial few days before changing over the second half.
- On the 7th, when the week began, gold was priced at Rs.3,197 per gram.
- This rose slightly to Rs.3,203 per gram as the US dollar fell slightly and local demand moved up. Gold continued to trade at this rate over the 8th and the 9th as sustained buying from local investors helped offset the positive growth in the US dollar.
- During the 10th, gold prices rose to Rs.3,208 per gram as there was a slight decline in the US dollar. Prices surged to Rs.3,213 per gram the next day, i.e., the 11th, as inflation figures that were released showed some subpar performance.
- Inflation figures briefly wreaked havoc on the USD exchange dynamic and bullion investors took advantage of this.
- As a result of this opportunism, gold rates went up to Rs.3,134 per gram - a Rs.21 rise - on the 12th of May.
- Gold traded at Rs.3,134 per gram on the final day of this month as demand quieted down after the dollar began to recover.
May 2018 - Week 3 (14th - 20th)
- In the national capital, gold trade began for the week with the yellow metal priced relatively higher at Rs.3,234 per gram on the 14th following a decline in the dollar value from the previous session.
- However, with the dollar rebounding from its initial shock, gold rates plunged to Rs.3,213 per gram on the 15th.
- Prices remained unchanged at Rs.3,213 per gram the next day before dropping to Rs.3,187 per gram on the 16th after the US dollar rose close to its highest level in 2018.
- Weak trends overseas coupled with poor domestic demand led to gold rates plummeting to Rs.3,171 per gram on the 17th.
- With investors banking on the bullion to hedge against the rising US-Italian political crisis, gold rates rebounded to Rs.3,192 per gram during the closing hours of the week.
May 2018 - Week 4 (21st - 27th)
- In the national capital, Delhi, gold was priced at Rs.3,192 per gram when the fourth week of May began.
- As cues from the international market dropped owing to the upcoming Fed minutes, gold rates in Delhi was also affected. This caused the going rate to drop down to Rs.3,182 per gram on the 22nd.
- On the 23rd, gold continued to trade at Rs.3,182 per gram as gold steadied against the dollar and local demand reflected that.
- When trading started for the 24th, the precious metal’s rates rose to Rs.3,192 per gram as the Fed Reserve decided to keep the rates unchanged.
- With the dollar continuing to tumble amidst the latest situation, gold prices surged further up to Rs.3,203 per gram on the 25th of May.
- While the US dollar tried to exert control, demand continued to rise locally. The metal traded at Rs.3,213 per gram on the 26th.
- After the dollar gained against other currencies on the 27th, prices dropped to Rs.3,203 per gram.
May 2018 - Week 5 (28th - 31st)
- Trading began in the national capital with the yellow metal priced at Rs.3,203 per gram on the 28th with gold capitalising on its gains from the previous session.
- However, with the US dollar regaining lost ground at the international level, gold rates in Delhi plunged to Rs.3,187 per gram on the 29th.
- Poor trend overseas coupled with subdued domestic demand led to gold prices remaining unchanged at Rs.3,187 per gram for the rest of the month.
- The bullion trade in Delhi registered a loss of 0.15% due to the uneven global cues that resulted in an inconsistent demand in the domestic markets during the course of the month.
Trend of Gold Rate in Delhi for April 2018 (rates per gram for 24 karat gold)
| Parameters | Gold price (24 karat) |
| April 1 Rate | Rs.3,140 per gram |
| April 30 Rate | Rs.3,208 per gram |
| Highest Rate in April | Rs.3,224 per gram on 20 April |
| Lowest Rate in April | Rs.3,129 per gram on 7 April |
| Overall Monthly Performance | Incline |
| Percentage Change | 2.16% |
April 2018- Week 1 (1st-7th)
- Demand for gold in the capital city saw some upward movement towards the middle of the first week of April but trade ended flat due to declining demand.
- The precious metal traded at Rs.3,140 per gram on 1 April and remained constant the next day as demand was stagnant.
- Gold rate in Delhi jumped to Rs.3,161 per gram on 3 April as demand surged due to a fall in the dollar index, which made gold imports cheaper.
- Industrial demand overseas also rose, which propped up domestic prices and gave impetus to local industrial demand.
- A recovering dollar led to equity markets inching higher, as investors lost interest in gold and the gold price in Delhi fell to Rs.3,145 per gram on 4 April.
- The downward trends continued as retail demand dropped sharply following the end of the wedding season.
- Gold fell to Rs.3,129 per gram on 6 April as the U.S. Dollar rallied on positive U.S. non-farms data as well as low unemployment figures, which put pressure on gold.
- With news of additional tariffs being imposed on China, stock markets fell sharply and interest in gold increased, resulting in gold rising to Rs.3,140 per gram on 7 April.
April 2018- Week 2 (8th -15th)
- The week began in Delhi with gold trading at Rs.3,140 per gram.
- Local demand was largely steady for most of this week and gold prices saw little change for the first four days.
- From the 8th to the 11th, gold continued to trade at Rs.3,140 per gram.
- This, however, changed on the 12th as global cues improved amidst the beginning of a war between the US and Syria.
- Gold rates surged to Rs.3,166 per gram on the 12th before rising to Rs.3,197 per gram the next day.
- Even though gold demand was high in the international market, rates dropped in Delhi owing to saturated demand.
- On the 14th, the yellow metal traded at Rs.3,171 per gram before rising to Rs.3,187 per gram the next day.
- The rise on the last day of this week was due to the combined strikes on Syria by the US, France and England.
April 2018 - Week 3 (16th - 22nd)
- In the national capital, gold opened trading at Rs.3,208 per gram on the 16th with the bullion capitalising on the US-led missile strikes on Syria.
- Prices plunged to Rs.3,192 per gram the next day after the US dollar gained on a positive US housing and industrial production report for the month of March.
- Gold rate in Delhi rose marginally to Rs.3,197 per gram on the 18th after the rallying base metal markets fuelled fears of inflationary pressure on the international market.
- Rates remained unchanged at Rs.3,197 per gram the next day with gold supported by the persiting US-China trade war concerns.
- The 20th saw gold rates in Delhi rising by Rs.27 per gram to Rs.3.224 per gram following an incline in safe-haven demand for the metal amid global political tensions.
- Gold prices plunged to Rs.3,213 per gram on the 21st before rising again to Rs.3,218 per gram on the last day following an increased buying by local jewellers to meet wedding season demand at the domestic level.
April 2018 - Week 4 (23rd - 30th):
- Gold opened at Rs.3,218 per gram in Delhi with no changes being seen compared to the previous day.
- On the 24th, gold prices declined to Rs.3,197 per gram - a Rs.21 per gram drop as domestic demand took a massive hit.
- The yellow metal continued to trade at Rs.3,197 per gram before rising up to Rs.3,213 per gram on the 26th.
- Gold rates held on at Rs.3,213 per gram on the 27th but another decline in demand pushed prices down to Rs.3,197 per gram the next day.
- The final day of this week gold rates surged to Rs.3,208 per gram as demand seemed to be on the rise.
Trend of Gold Rate in Delhi for March 2018 (rates per gram for 24 karat gold)
| Parameters | Gold price (24 karat) |
| Gold Rate on 1st March 2018 | Rs.3,113 per gram |
| Gold Rate on 31st March 2018 | Rs.3,134 per gram |
| Highest Rate in March | Rs.3,171 per gram on 25 and 26 March |
| Lowest Rate in March | Rs.3,098 per gram on the 19 and 20 March |
| Overall Monthly Performance | Incline |
| Percentage Change | 0.67% |
March 2018 - Week 1 (1 - 5):
- The price of gold was recorded at Rs.3,108 per gram on 1 March in Delhi, as there was no significant change in demand as the month began.
- Gold price in Delhi rose sharply to trade at Rs.3,134 per gram on 3 March as equity markets across the world were thrown into chaos over the surprise announcement of the imposition of import tariffs on aluminium and steel in the U.S.
- Local demand rose marginally as the Dollar fell heavily, making gold imports cheaper.
- An increase in gold imports in China also kept prices stable, with a few minor fluctuations recorded over the week.
- Gold traded at Rs.3,129 per gram on 5 March as prices began to regularise following the sudden spike.
March 2018 - Week 2 (5-11):
- Gold was seen trading at Rs.3,129 per gram when trading began in Delhi for the second week of March.
- Due to a strong dollar performance, gold rates dropped by Rs.10 and the metal traded at Rs.3,119 per gram on the 6th of March.
- As the US dollar weakened, gold rates surged to Rs.3,a40 per gram on the 7th before dropping back to Rs.3,129 per gram on the 8th. The fall happened as the dollar bounced back while demand seemed to saturate.
- The 9th saw gold rates drop again to Rs.3,113 per gram as investor sentiment remained quite weak.
- With the US dollar seeing a decline amid poor wage gains, gold rates went back up to Rs.3,134 per gram on the 10th of March.
- The week ended with gold still trading at Rs.3,134 per gram.
March 2018 - Week 3 (12 - 18):
- When trading began in Delhi, the bullion prices were recorded holding at Rs.3,134 per gram on the 12th with steady domestic demand amid firm trend overseas.
- With the US dollar index rising against other apex currencies ahead of the US consumer price report, prices plunged to Rs.3,124 per gram on the 13th.
- Rates remained unchanged at Rs.3,124 per gram the next day with steady domestic demand from local jewellers and retailers despite the poor trends overseas.
- The 15th saw gold prices in Delhi edging higher to Rs.3,129 per gram with trade war concerns weighing on stock markets.
- However, with the dollar strengthening amid expectations over a possible interest rate hike by the Federal Reserve next week, gold rates dropped to Rs.3,119 per gram on the 16th.
- With markets bracing for the first interest rate hike this year, the US dollar rose further. This led to the bullion prices plunging to Rs.3,103 per gram the following day.
- The week came to an end with gold rates in Delhi holding firm at Rs.3,103 per gram on the 18th with reduced local demand amid the weak trends overseas.
March 2018 - Week 4 (19 - 25):
- Gold was priced at Rs.3,098 per gram when trading opened in Delhi on 19 March as prices showed minor dips due to demand vagaries.
- Gold price in Delhi jumped in a single day as the metal climbed to Rs.3,113 per gram on 20 March following a drop in the dollar value, which spurred greater demand for bullion.
- Prices dropped marginally as local demand fell, but global demand for the metal was high as investors were jittery ahead of the Fed meeting on monetary policy.
- Fewer interest rate hikes caused consternation among investors, which led to a market slump and increased interest in gold.
- The gold traded at Rs.3,134 per gram on 22 March and rose to Rs.3,171 per gram on 24 March as demand for gold continued to climb.
- Higher demand from Asian markets as well as generally poor equity results led to gold becoming a more attractive investment option.
- The week ended with gold rate in Delhi at Rs.3,171 per gram on 25 March, as market conditions and a low dollar rate helped keep prices stable.
March 2018 - Week 5 (26 - 31):
- The bullion trade opened in Delhi with the metal trading strong at Rs.3,171 on the 26th with gold holding its five-week high from the previous session amid possible trade war fears.
- However, with the trade war being diverted following negotiations between the US and China, the US dollar surged. This led to gold rates plummeting to Rs.3,161 per gram on the 27th.
- The dollar index lost against a basket of currencies with tensions rising between the US and Russia the next day. This led to gold price in Delhi rising to Rs.3,166 per gram on the 28th.
- Firm trends overseas coupled with steady demand led to bullion prices remaining untouched at Rs.3,166 per gram on the 29th.
- The dollar, however, regained lost ground despite a drop in equities amid the US-China stand-off and gold was priced at Rs.3,134 per gram on the 30th.
- The week ended with the precious metal trading firm at Rs.3,134 per gram on account of a subdued but steady domestic demand from local jewellers, retailers and industries.
- Gold rates in Delhi surged by 0.67% due to the firm trends overseas that pushed demand higher during the month.
Trend of Gold Rate in Delhi for February 2018 (rates per gram for 24 karat gold)
| Parameters | Gold price (24 karat) |
| Gold rate on 1st February 2018 | Rs.3,077 per gram |
| Gold rate on 28th February 2018 | Rs.3,129 per gram |
| Highest Rate in February | Rs.3,161 per gram on 17 and 18 February |
| Lowest Rate in February | Rs.3,035 per gram on 9 February |
| Overall Monthly Performance | Incline |
| Percentage Change | 1.68% |
February 2018 - Week 1 (1st - 4th)
- The bullion trade in Delhi opened with gold priced at Rs.3,077 per gram on the 1st with steady demand from local jewellers, retailers and industries.
- Despite the well performing US dollar and rising equities, gold rate in Delhi remained unchanged throughout the week.
- Gold price in Delhi remained unchanged at Rs.3,077 per gram on the 2nd and 3rd with stable domestic demand for the precious metal.
- The rising dollar rates didn’t seem to have any effect on the demand in Delhi. The bullion was trading steady at Rs.3,077 per gram on the 4th when the week ended.
February 2018 - Week 2 (5th -11th)
- Gold rate in Delhi declined gradually from most part of the week due to poor local demand.
- When the week began, gold was priced at a respectable Rs.3,082 per gram. But, as domestic demand was weak, gold prices went down to Rs.3,066 per gram the next day.
- Over the 7th and the 8th of February, gold traded at Rs.3,066 per gram as a weak dollar had a bullish effect on trading.
- The 9th saw gold price in Delhi drop to Rs.3,035 per gram as a strong dollar influenced the sentiments of local investors.
- The 10th witnessed a surge in local demand, which led to a Rs.15 increase in prices and the metal traded at RS.3,050 per gram.
- WIth the demand continuing to remain steady, gold rates rose again on the 11th and gold was seen selling at Rs.3,056 per gram on the final day of the week.
February 2018 - Week 3 (12th - 18th)
- In Delhi, the bullion was recorded trading at Rs.3,056 per gram on the 12th amid the declining US dollar index and equities ahead of the US inflation data later during the week.
- With investors and traders watching out for the data for clues on the pace of the US interest rate hikes, prices surged to Rs.3,087 per gram on the 13th.
- On the 14th, gold price in Delhi were recorded holding at Rs.3,098 per gram with an increase in domestic demand from local jewellers, industries and retailers amid the firm trend overseas.
- Gold rate in Delhi rose marginally to Rs.3,103 per gram on the 15th before surging to Rs.3,140 per gram on the 16th with the US dollar index losing considerably against other apex currencies.
- The 17th witnessed prices remaining untouched at Rs.3,140 per gram owing to the steady demand brought about by the firm trend overseas.
- The week came concluded with the precious metal priced at R.3,161 per gram on the 18th after local demand spiked amid the strong global cues.
February 2018 - Week 4 (19th - 25th)
- Gold rate in Delhi were affected by the dominant performance put up by the US dollar this week.
- On the 19th of February, gold was priced at Rs.3,161 per gram in the national capital. This dropped to Rs.3,150 per gram the next day as the US dollar recorded an improvement after consistently underperforming over the previous few outings.
- Buoyed by the unveiling of the upcoming Fed Reserve minutes, the greenback strengthened its hold against a basket of major currencies. This caused gold price in Delhi to plummet to Rs.3,134 per gram as demand declined.
- The 23rd again saw rates drop - this time to Rs.3,119 per gram - as a rising dollar contributed to poor gold sales.
- However, a rise in demand was witnessed on the 24th, which led to gold trading at Rs.3,124 per gram on the 24th of February.
- With demand remaining steady, gold continued to trade at Rs.3,124 per gram till the end of the week.
February 2018 - Week 5 (26th - 28th)
- The final week began in Delhi with the bullion priced at Rs.3,124 per gram on the 26th following a steady demand from local jeweller, retailers and industries.
- On the 27th, gold rate in Delhi rose to Rs.3,134 per gram with investors awaiting Fed Chairman Jerome Powell’s first congressional speech to the nation.
- The month came to an end with gold prices plunging to Rs.3,129 per gram on the 28th after the US dollar rose against a basket of other emerging currencies in the global trade.
- Gold price in Delhi rose by 1.68% owing to the strong trends overseas that pushed demand higher for the metal during the month.
Trend of Gold Rate in Delhi for January 2018 (rates per gram for 24 karat gold)
| Parameters | Gold price (24 karat) |
| Gold Rate on 1st January 2018 | Rs.3,010 per gram |
| Gold Rate on 31st January 2018 | Rs.3,066 per gram |
| Highest Rate in January | Rs.3,115 per gram on 15, 16, 20 and 21 January |
| Lowest Rate in January | Rs.3,010 per gram 1 and 2 January |
| Overall Monthly Performance | Incline |
| Percentage Change | 1.86% |
January 2018 - Week 1 (1st - 7th)
- The national capital saw gold rate in Delhi start on a subdued note due to poor initial demand.
- When the new year began, the yellow metal was priced at Rs.3,010 per gram. Due to very little fluctuation in the local market, gold rate in Delhi continued at Rs.3,010 per gram on the 2nd of the month.
- As gold hit near four-month highs amid a poor dollar, prices went up to Rs.3,045 per gram on the 3rd of January. Various reports doing the rounds suggested that “today’s gold rate” was affected by gold trading in the $1,310 per ounce range, the highest since September 2017.
- After news of the payrolls data in the US broke out, the bullion market eased a little. This was why gold rates fell to RS.3,030 per gram on the the 4th.
- But, as markets concluded that the data showed some below par performance, gold rates went back up to Rs.3,045 per gram on the 5th.
- This then surged to Rs.3,050 per gram on the 6th and continued on till the end of the week.
January 2018 - Week 2 (8th - 14th)
- The week began with gold being priced relatively lower at Rs.3,045 per gram due to a decline in demand from local jewellers, retailers and industries from the previous week.
- The 9th, however, saw gold prices recovering to Rs.3,051 per gram after the US dollar lost its ground against a basket of other major emerging currencies.
- Though gold rate in Delhi plunged to Rs.3,041 per gram on the 10th amid poor domestic demand, prices rebounded to Rs.3,061 per gram the next day after equity markets weakened following the slump in the US dollar.
- Strong global trends coupled with an increased local demand for the metal led to gold price in Delhi surging to Rs.3,078 per gram on the 12th.
- The 13th recorded gold trade in Delhi hitting their highest since September at Rs.3,099 per gram after the continued poor performance of the dollar led to a decline in equities market.
- A positive trend overseas coupled with strong demand resulted in the week concluding with gold holding steady at Rs.3,099 per gram on the 14th.
January 2018 - Week 3 (15th - 21st)
- When trading began for the week in Delhi, gold was priced at Rs.3,099 per gram.
- As the global market began to see increased sales, gold rate in Delhi surged for the metal to trade at Rs.3,115 per gram on the 16th of January.
- The yellow metal’s rates continued to remain at Rs.3,115 per gram on the 17th as well before an improvement in the dollar index caused bullion demand to subside.
- On the 18th and the 19th, gold traded at Rs.3,095 per gram as a rising dollar was assisted by positive returns from the treasury yields.
- However, this low demand couldn’t be sustained for long as news about a government shutdown cause gold rates to rise significantly the next day.
- Gold price in Delhi surged by Rs.20 for the metal to trade at Rs.3,115 per gram over the final two days of the week.
January 2018 - Week 4 (22nd - 28th)
- Gold rate in Delhi bore witness to marginal increase over the first two days but surged massively as an underperforming dollar pushed rates up.
- On the 22nd of Delhi, gold was priced at Rs.3,056 per gram. As demand from local circles increased amid a weak dollar, gold prices surged to Rs.3,066 per gram the next day.
- A strong overseas demand coupled with a significant rise in local purchases pushed gold rate in Delhi up to Rs.3,108 per gram on the 24th of January.
- The reason behind this sudden rise was the underperforming US dollar and a rapidly increasing international sales.
- However, demand for the metal slowed down in Delhi, which caused gold price to hold at Rs.3,108 per gram for the remainder of the week, i.e., from the 26th to the 28th of the month.
January 2018 - Week 5 (29th - 31st)
- The final week of trading in Delhi for the month opened with gold rates declining to Rs.3,077 per gram on the 29th with the US dollar regaining lost ground and strengthening equities.
- On the 30th, gold rate in Delhi plunged to Rs.3,066 per gram with the US dollar edging higher amid the rising US bond yields.
- Steady local demand despite the poor trend overseas led to gold prices remaining unchanged at Rs.3,066 per gram until the end of the month.
- Gold price in Delhi rose by 1.86% due to the poorly performing US dollar and equities that pushed demand higher for the metal during the month.
Know About Gold Schemes by Jewellers & Banks : Click Here
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.`
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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.
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22 karat gold prices in Delhi
22 karat gold per gram was priced at Rs.2,516 at the start of the year. Prices peaked at Rs.2,672 on 21st January, before sliding to Rs.2,438 by 18th March. This was followed by a short rally to Rs.2,612 by 18th May, with the month ending at Rs.2,549.
Also Check Gold Price in NearBy Cities of Delhi
| Gold Rate in Chandigarh | Gold Rate in Indore | Gold Rate in Jaipur |
| Gold Rate in Pune | Gold Rate in Ahmedabad | Gold Rate In Srinagar |
| Also Know: Silver Rate in Delhi |
Read more on Gold
- Which Day Is Good To Buy Gold in Year 2018
- Know Gold Rate Trend in 2016
- Make Gold An Excellent Investment Tool
- Pros And Cons Of Buying Gold Bars And Gold Coins
- Things To Remember Before Purchasing Gold Jewellery
- Jewellery Markings On Gold And Silver
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