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Ghaziabad is also called as Gateway of Uttar Pradesh as it is close to New Delhi and it acts as the main entrance of Uttar Pradesh. It is a planned industrial city that is connected by the roads and railways. There are a large number of commercial and residential projects coming up along the national highway 24.
With the increase in the residential projects and population, people of Ghaziabad have a passion for buying gold. Most of the jeweler's supply pure BIS Hallmarked gold and offer a wide range of designs and models. Currently gold is being viewed as a safe haven asset all over the world. People residing in Ghaziabad are investing in the precious metal.
Gold Rate in Ghaziabad
The gold rate in Ghaziabad varies according to its purity. People can buy 24 karat, 22 karat, 18 karat and 14 karat gold. The most expensive is the 24 karat gold and 14 karat is the cheapest. Gold rate changes according to the gold market in the country and overseas. The prices of gold had fallen down a lot in 2015 and it picked up in January, 2016.
24 karat gold:
24 karat gold is the purest gold as it includes 99.95% gold mass. This is a soft metal and it cannot be used to make jewellery and other ornaments. The gold rate for 24 karat gold in Ghaziabad is Rs.29,660 per 10 grams as on 10th March, 2016.
22 karat gold:
22 karat gold is the highest quality gold it includes 91.6% gold mass. It is used to make jewellery and ornaments. It has a shiny yellow coat and the brightness depends on if silver or copper is mixed. When gold is mixed with copper, it has a reddish tint. Zinc is added to copper to neutralise the rose color and make it more yellow. The best quality is when the 22 karat gold is alloyed with silver. It is the most common form of retail gold jewellery and it has to be taken care of so that it doesn’t wear off. The gold rate for 22 karat gold in Ghaziabad is Rs.27,730 per 10 grams as on 10th March, 2016.
18 karat gold:
This includes 75% of the gold mass and it is the popular karat for jewellery. Its strength can hold gemstones, diamonds and emeralds in place. Rose and pink gold are 18 karat.
14 karat gold:
This includes 58.3% gold mass and it is the cheapest type of gold jewellery. If alloyed with copper it gives out a dull bronze color. When alloyed with silver or nickel it will look white and it is called white gold.
Gold Rate Trend in Ghaziabad for April 2016 to June 2016 (per gram of 24 karat gold)
|1st day||Rs. 2,943 per gram||Rs. 3,119 per gram||Rs.2,991 per gram|
|Last day||Rs. 3,119 per gram||Rs. 2,960 per gram||Rs.3,167 per gram|
|Highest price||Rs.3,119 per gram on 30th of April||Rs. 3,120 per gram from the 7th to the 9th of May||Rs.3,182 per gram on 28th and 29th June|
|Lowest price||Rs. 2,933 per gram on the 5th of April.||Rs. 2,960 per gram from the 28th to the 31st of May||Rs.2,950 per gram from 2nd June to 5th June|
|Change||Rs. 176 per gram||Rs. 159 per gram||+7.86%|
Gold Rate Trend of Ghaziabad in April 2016
- Gold prices were recorded at Rs. 2,943 per gram on the first of April and remained unchanged until the 5th of the month after which they declined marginally before rising constantly for the following few days.
- Prices fluctuated over the course of the month as marginal losses were written off by subsequent gains.
- The highest price recorded in the month of April was on the last day of the month when rates soared to Rs.3,119.
- The overall increase in rates when comparing prices on the first day and the last day of the month was Rs. 176.
Gold Rate Trend of Ghaziabad in May 2016
- Gold prices were recorded at Rs.3,119 on the 1st of May and remained constant for the next two days after which prices fluctuated for the next three days.
- Prices remained stable at Rs.3,120 from the 7th to the 9th of May after which they declined by Rs.40 to Rs.3,080 and remained unchanged until the 16th of the month.
- Gold prices declined continuously until the end of the month and the overall decline in rates at the end of the month in comparison with the first day of the month was Rs.159.
Gold Rate Trend of Ghaziabad in June 2016
- Gold prices increased steadily over the month of June as international trends began firming in addition to a rise in demand.
- Although there were marginal declines on certain days, the value of the precious metal rose consistently and the highest rate in the month of June was recorded on the 28th and 29th when prices soared to Rs.3,182.
- The overall increase in prices when comparing the first day of the month to the last was Rs.176.
Gold Rate Trend in Ghaziabad for January 2016 to March 2016 (per gram of 24 karat gold)
|1st day||Rs. 2,585 per gram||Rs. 2,756 per gram||Rs. 3,068 per gram|
|Last day||Rs. 2,756 per gram||Rs. 3,037 per gram||Rs. 2.948 per gram|
|Highest price||Rs. 2,772 per gram on January 28th.||Rs. 3049 per gram on February 26th||Rs. 3,093 per gram from March 12th to 17th.|
|Lowest price||Rs. 2,617 per gram on January 3rd.||Rs. 2,756 per gram on February 1st||Rs. 2,940 per gram from March 15th to 17th.|
|Change||Rs. 171 per gram||Rs. 281 per gram||Rs. 120 per gram|
Gold Rate Trend of Ghaziabad in January 2016
- Gold traded at Rs. 2,585 per gram on the 1st of January and declined on the 2nd before remaining constant for the following two days after which a gradual increase in price was recorded.
- Prices fluctuated over the course of the month and the highest rate of gold in the month of January was recorded on the 28th when prices hit Rs. 2,772 per gram.
- Gold traded at Rs. 2,772 per gram on the 28th of January.
- A gain of Rs.171 was recorded on the last day of January in comparison with the first day of the month.
Gold Rate Trend of Ghaziabad in February 2016
- Gold traded at Rs. 2,756 per gram on the 1st of February and prices rose steadily until the 15th of the month.
- A small decline was recorded on the 16th of February after which prices fluctuated over the course of the month and the highest rate of gold in the month of February was recorded on the 26th when prices hit Rs. 3,049 per gram.
- The highest price in the month of February was recorded on the 26th as the value of the precious metal rose to Rs.3,049 before the end of the month.
Gold Rate Trend of Ghaziabad in March 2016
- Gold prices remained unchanged at Rs. 3,030 per gram for the first 14 days of the month.
- Gold price dropped by Rs.90 to Rs.2,940 and remained stable for the next three days.
- Gold prices rose again on the 18th of March and remained unchanged at Rs.2,998 until 24th of March and Rs.2,948 between the 25th and 31st of March.
- Although prices remained stable for significant periods of time during March, an overall decline of Rs.120 was recorded between the first and the 31st of March owing to a jeweller strike.
Gold investment avenues in Ghaziabad
Gold is the most common item found in every household in India. People buy gold as an investment or to wear it for various important occasions. Gold sales peak during wedding season, festivals, etc. Since gold is treated as a safe haven asset, investors also buy gold to protect themselves from the market fluctuations. Gold can be brought in Ghaziabad in the following ways:
- Over the counter purchases:
This is the most traditional way of buying gold. People prefer looking at the jewellery and trying it on before actually buying it. There are a various jewellers in the city from where people of Ghaziabad can buy gold based on their need. You can also buy gold coins and bars from the jewellers as well as the banks. When you buy gold from the bank it is costlier as you get purity certificate.
- Market trade:
Gold can now be purchased from the comforts of your home now. You have access to E-gold, futures and ETFs. You must know that trading in gold is subject to risk. E-gold trade can be done through National Spot Exchange. ETFs are traded on Bombay Stock Exchange.
Also Check Gold Price in NearBy Cities of Ghaziabad
|Gold Rate In Kanpur||Gold Rate In Varanasi||Gold Rate In Allahabad|
|Gold Rate In Aligarh||Gold Rate In Noida||Gold Rate In Agra|
|Gold Rate In Bareilly||Gold Rate In Lucknow||Gold Rate In Meerut|
|Gold Rate In Delhi||Gold Rate In Gurgaon|
- Also Check: Gold Rate in Uttar Pradesh
Read more on Gold
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- Significance Of Indian Jewellery
- Top 10 Gold ETFs in India
- Why Gold Prices Are Up
- Top 8 Reasons to Invest in Gold