Gold Rate In Ghaziabad

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Gold Price in Ghaziabad

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 Trend in Ghaziabad for April 2017 to June 2017 (per gram of 24 karat gold)

Gold Rate Trend in Ghaziabad for April 2017:

• When gold trading began in Ghaziabad for April 2017, the yellow metal was priced at Rs.2,991 per gram.
• Prices remained at Rs.2,991 per gram for the next two days as demand remained unchanged.
• On the 4th, however, gold prices increased to reach Rs.3,003 per gram - a Rs.12 incline - as demand went up slightly.
• Rates held on at Rs.3,003 per gram till the 7th but decreased to hit Rs.2,983 per gram on the 8th, which happened to be the lowest gold rate in the city for April.
• Though rates didn’t change on the 9th and the 10th, they went up to Rs.2,998 per gram on the 11th before increasing significantly by Rs.38 to go up to Rs.3,036 per gram on the 12th.
• Prices fluctuated slightly over the next few days but hit Rs.3,068 per gram on the 15th - the highest gold rate this month.
• From the 17th, there were more fluctuations to be seen as a result of rising US dollar value and positive market data.
• By the 19th, gold prices had gone up to Rs.3,057 per gram and then to Rs.3,062 per gram by the 22nd.
• Rates, however, fell for the next few days, before ending the month at Rs.3,011 per gram.
• Even though there were some significant fluctuations, gold prices inclined at a rate of 0.66% in Ghaziabad.

Gold Rate Trend in Ghaziabad for May 2017:

• Gold prices in Ghaziabad for May started at Rs.3,011 per gram. Prices fell significantly this month as demand was low.
• The low demand was brought about by a surging US dollar rate and a subsequent drop in demand from local jewellers.
• By the end of the first week, i.e, the 9th, gold prices had decreased by Rs.49 to hit Rs.2,952 per gram.
• On the 8th, gold prices went down to Rs.2,942 per gram and declined further to hit Rs.2,918 per gram by the 15th.
• However, bullion recovered after US dollar value fell. On the 17th, gold was trading at Rs.2,939 per gram.
• The 18th saw prices surge significantly - by Rs.52 - to bring trading price up to Rs.2,991 per gram
• After some more fluctuations, gold prices remained steady towards the end of the month to close at Rs.2,992 per gram.
• Overall, gold prices in Ghaziabad had declined by 0.49% in the month of May.

Gold Price Trend in Ghaziabad for June 2017:

• In international terms, June was a key month for gold pricing as Euro rates surged after Emmanuel Macron became the president of France.
• The month began with gold trading at Rs.3,012 per gram.
• As US dollar value went down, demand in local circles increased which pushed gold prices up to Rs.3,037 per gram by the 5th.
• Prices went up to Rs.3,057 per gram by the 7th - the highest gold rate for the month.
• Over the next two weeks prices fluctuated considerably - falling for the most part as demand subsided.
• Gold was priced at Rs.3,017 per gram on the 9th but had gone down to Rs.2,982 per gram by the end of the 19th.
• Bullion rates remained at Rs.2,982 per gram till the 22nd before increased slightly to Rs.2,987 per gram on the 23rd.
• Prices went up on the 24th again - this time by Rs.5 - for the metal to trade at Rs.2,992 per gram.
• On the 27th, gold rates fell by Rs.20 but rallied back to reach Rs.2,992 per gram on the 28th.
• During the last two days of June, gold was still trading at Rs.2,992 per gram.
• Gold price trends decreased at a rate of 0.66% in June as there was significantly less demand in the city when compared to other major metropolises.

Gold Rate Trend in Ghaziabad for January 2017 to March 2017 (per gram of 24 karat gold)

Gold Rate Trend for Ghaziabad in January 2017:

• Gold started the year 2017 at a strong Rs.2,844 per gram, on account of technical buying despite a strong US Dollar on January 1st.
• An increase in demand saw Gold climb to Rs.2,855 per gram on March 4th.
• Healthy global demand saw Gold climb to Rs.2,866 per gram on January 5th.
• US stocks saw a slump as energy shares dropped along with the price of crude oil, allowing Gold to climb to Rs.2,888 per gram on January 10th.
• Uncertainty over the US monetary policy caused Gold to further climb to Rs.2,925 per gram on January 12th.
• Concerns amid Britain’s exit from the European Union saw the global spot price of Gold climb to Rs.2,952 per gram on January 16th and January 17th.
• Uncertainty over the US monetary policy saw the US Dollar slump, causing Gold to climb to an 8-week high of Rs.2,973 per gram on January 18th.
• On the 23rd of January Gold reached a 2-month high of Rs.2,979 per gram amid uncertainty of the future US monetary policy.
• Technical corrections caused Gold to slip to Rs.2,946 per gram on January 27th.
• A weak US Dollar and sluggish economic data from the US saw Gold prices climb to Rs.2,967 per gram on January 30th.
• Gold closed the month’s trade at Rs.2,958 per gram on January 31st.

Gold Rate Trend for Ghaziabad in February 2017:

• Gold opened the month’s trading at Rs.2,978 per gram on February 1st.
• Uncertainty over the upcoming French election, weak industrial data from Germany and a strong US Dollar saw Gold slip to Rs.2,957 per gram to close the week’s trading on February 5th.
• A boost in demand from retailers, jewellers and investors saw Gold prices edge up to Rs.2,999 per gram on February 7th.
• Sustained demand for Gold saw prices further climb to Rs.3,009 per gram on February 8th, 9th and 10th.
• The US Dollar strengthening against the Japanese Yen saw Gold prices slip to Rs.2,983 per gram on February 11th.
• Gold remained stable and closed the second week’s trading at Rs.2,983 per gram on February 12th.
• Gold opened the third week of trading at Rs.2,983 per gram on February 13th.
• Technical corrections saw Gold slip to Rs.2,973 per gram on February 14th and February 15th.
• A weakened US Dollar saw Gold climb to Rs.3,004 per gram on February 17th.
• Gold held firm at Rs.2,999 per gram to close the week’s trade on February 19th.
• Gold opened the fourth week of trading at a stable Rs.2,999 per gram on February 20th.
• A struggling US Dollar amid uncertainty pertaining to the US monetary policy saw Gold climb to weekly high of Rs.3,031 per gram on February 25th.
• A marginally strengthened US Dollar saw Gold prices slip to Rs.3,020 per gram to close the month’s trade on February 28th.

Gold Rate Trend for Ghaziabad in March 2017:

• A stronger US Dollar saw Gold open trading on March 1st at Rs.3,009 per gram.
• Expectations of a US Federal Interest Rate hike in March saw Gold slip to Rs.2,990 per gram between March 3rd and March 6th.
• A weak demand domestically saw Gold prices slip to Rs.2,965 per gram on March 10th.
• A stronger US Dollar and a weak global demand saw domestic prices of Gold fall to Rs.2,951 per gram on March 14th.
• A marginally weakened US Dollar saw Gold prices rise to Rs.2,971 per gram on March 18th and March 19th.
• The failure of a new healthcare bill proposed by President Donald Trump saw Gold climb to Rs.3,003 per gram on March 22nd and March 23rd.
• Technical corrections caused Gold to slip to Rs.2,993 per gram between March 24th and March 26th.
• A strong demand for Gold allowed it to recover to Rs.3,003 per gram between March 27th and March 30th.
• Technical corrections caused Gold to drop to Rs.2,991 per gram to close the month’s trading on March 31st.

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 10^th 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 10^th 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 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.