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Gold Rate in Goa
Besides the exotic beaches and the rich scenic adhesive that keeps you coming back for more to this states, gold holds importance here, because of a cosmopolitan population that has a mixed culture of both India and Europe. Gold rates in Goa are of importance because a lot of foreign influence affects the state’s trade and economy. The main industry of this states is tourism along with agriculture but like in other states of India. People in this state love gold for ornamentation and is often seen as a safe haven for investors.
Gold plays a vital role in the state’s history,too. In the early twelfth century Kadambas ruled Goa for over 400 years, when they issues gold coins. The first Portuguese mint that was started in the East, by Alburquerque was in Goa which issued gold coins along with silver and bronze in the sixteenth century. Even today, gold has a significance in trade and retail market. Read on to more about gold rates in Goa and what affects it.
Gold Rate Trend in Goa for January 2018 to March 2018 (per gram of 24 karat gold)
|1st day||Rs.2,953 per gram||Rs.2,998 per gram||Rs.3,014 per gram|
|Last day||Rs.2,998 per gram||Rs.3,014 per gram||Rs.3,019 per gram|
|Highest price||Rs.3,032 per gram on 25 January||Rs.3,031 per gram on 20 February||Rs.3,045 per gram on 25, 26, 28 and 29 March|
|Lowest price||Rs.2,947 per gram on 4 and 5 January||Rs.2,951 per gram on 8 February||Rs.2,977 per gram on 19 March|
Gold Rate Trend in Goa for January 2018:
- The first quarter of 2018 saw gold rates incline consistently as demand was largely on the rise as a direct result of conditions in the US.
- On the 1st of January, when trade exchanges opened for the first time in 2018, gold was priced at Rs.2,953 per gram.
- The initial few days saw gold rates decline, owing to a strong dollar and a poor demand in the local market.
- During the 4th and the 5th, gold was priced at Rs.2,947 per gram - the lowest of the month - as demand hit a low point.
- This low point came rather early in the month which in turn signalled the arrival of better days as the month progressed.
- Gold rates in Goa improved over the next three weeks, albeit after bearing witness to fluctuations caused by uneven demand and poor cues.
- The yellow metal’s rates seemed to rise steadily during the fourth week as demand picked up ahead of strong cues.
- On the 25th, gold was seen trading at Rs.3,032 per gram, which was the month’s highest rate, as demand hit a peak while the dollar weakened.
- The next six days recorded some significant shifts in direction with gold rates dropping down considerably.
- When the month ended, the yellow metal was seen trading at Rs.2,998 per gram.
- Gold recorded a 1.52% change in price trends during the first month of Q1 2018 due to a weak dollar and a strong local demand.
Gold Rate Trend in Goa for February 2018:
- When the second month of Q1 2018 opened for trading, the precious metal was priced at Rs.2,998 per gram - no change from the previous day’s rates.
- On the 2nd, gold rates in Goa went up to Rs.3,019 per gram as demand surged suddenly as the US dollar was poor owing to fluctuating stock markets.
- Gold prices continued to undergo minor changes before falling significantly to a monthly low figure of Rs.2,951 per gram on the 8th.
- Gold rates went up to Rs.3,031 per gram - the month’s highest rate on the 20th of this month as demand surged amid strong change in the dollar - rupee dynamic.
- As this demand couldn’t be sustained, gold rates continued to drop slowly but steadily before consolidating as the month drew to a close.
- Gold recovered to trade at Rs.3,008 per gram on 25th and surged slightly to end the month at Rs.3,014 per gram.
- Price trends saw a 0.53% incline this month, which was brought about by strong change in demand factors.
Gold Rate Trend in Goa for March 2018:
- March’s trading began with gold opening at Rs.2,987 per gram - a markedly lower price compared to the previous month’s last day.
- The US dollar was relatively strong, which in turn affected gold prices as well as the sales.
- Gold prices in Goa was steady for large part of the first three week as demand was steady.
- On the 19th, however, gold rates went down to Rs.2,977 per gram - the month’s lowest rate as demand took a hit.
- Gold traded at a monthly high figure of Rs.3,045 per gram from the 25th to the 29th as the US dollar underwent some turbulent times.
- When the month ended, the yellow metal’s rates were holding at Rs.3,019 per gram.
- Price trends saw a marginal 0.16% incline as local demand was rather weak compared to other major cities in the country.
Gold Rate Trend in Goa for October 2017 to December 2017 (per gram of 24 karat gold)
|1st day||Rs.2,985 per gram||Rs.2,942 per gram||Rs.2,932 per gram|
|Last day||Rs.2,942 per gram||Rs.2,947 per gram||Rs.2,941 per gram|
|Highest price||Rs.2,995 per gram on 16 October||Rs.2,981 per gram on 20 November||Rs.2,942 per gram from 2 to 4 December and 29 December|
|Lowest price||Rs.2,932 per gram on 27 October||Rs.2,907 per gram on 6 November||Rs.2,859 per gram on 13 December|
Gold Rate Trend in Goa for October 2017:
- When trading opened for the final quarter of 2017, gold in Goa was priced at Rs.2,985 per gram.
- Gold rates this month were on a decline owing to poor domestic demand in spite of major festivals.
- The metal’s rates fluctuated considerably over the first two weeks before hitting the month’s highest rate of Rs.2,995 per gram on the 16th of October.
- However, prices began to fall from the 17th as demand was poor due to the US dollar remaining strong.
- Gold hit its lowest rate for the month on the 27th of the month when it traded at Rs.2,932 per gram.
- The final two days of this month saw gold price in Goa increase slightly to end at Rs.2,942 per gram on the 31st of October.
- A strong US dollar performance and the subsequent low demand for gold led to rates falling by 1.90% this month.
Gold Rate Trend in Goa for November 2017:
- As cues remained weak, gold opened at Rs.2,942 per gram for the month of November.
- During the first week, gold rates in Goa took a hit due to a strong dollar which pushed investors to exercise caution. This led to gold dropping to a monthly low rate of Rs.2,907 per gram on the 6th of the month.
- It was relatively smooth sailing of gold from the 7th onwards as prices seemed to incline consistently before trading at Rs.2,981 per gram on the 20th. This was the metal’s highest rate for this month.
- However, as demand seemed to remain flat over the final few days, gold rates began to consolidate. This led to the metal trading at Rs.2,947 per gram on the last day of this month.
- A strong demand mid-month contributed strongly to the upswing in gold prices. Price trends saw a marginal 0.16% incline over the course of the month.
Gold Rate Trend in Goa for December 2017:
- Gold opened at Rs.2,932 per gram in the coastal state of Goa for this month.
- The 2nd and 3rd recorded the highest gold rates - with the metal trading at Rs.2,942 per gram - as demand was steady.
- However, demand was strongly swung by the tax reform introduced by US president Donald Trump, which caused the dollar to strengthen subsequently pushing gold rates down.
- Gold rates in Goa went down to as low as Rs.2,896 per gram as the rallying of the US dollar continued, which caused gold demand to plummet.
- On the 13th, gold rate in Goa were at their lowest for the month. The metal traded at Rs.2,859 per gram as markets remained strong, which gave little incentive for bullion investors.
- Prices rallied as other concerns regarding Trump’s US presidency resurfaced. This, combined with a declining dollar led to consistent increase in gold prices.
- Gold traded at Rs.2941 per gram on the last day of 2017 and December recorded a 0.30% increase in price trends.
Gold Rate Trend in Goa for July 2017 to September 2017 (per gram of 24 karat gold)
|1st day||Rs.2,950 per gram||Rs.2,878 per gram||Rs.2,956 per gram|
|Last day||Rs.2,874 per gram||Rs.2,956 per gram||Rs.2,985 per gram|
|Highest price||Rs.2,950 per gram on 1 & 2 July||Rs.2,976 per gram on 29 August||Rs.3,056 per gram on 8 September|
|Lowest price||Rs.2,796 per gram on 14 July||Rs.2,845 on per gram 5 August||Rs.2,956 per gram on 1 September|
Gold rate trend in Goa for July 2017
- Gold trade opened in Goa with the precious metal trading at Rs.2,950 per gram - the highest recorded monthly figure.
- Domestic demand declined over the next couple of weeks as the newly approved GST seemed to affect the investor sentiments. This led to gold prices in Goa plunging to Rs.2,796 per gram on the 14th.
- Demand, however, picked up towards the end of the month as the dollar weakened in the wake of the intensifying US-North Korean conflicts.
- Gold was priced at Rs.2,874 per gram on the 27th, owing to an increased global demand for the safe-haven metal.
- When the month concluded, the precious metal was recorded trading at Rs.2,872 per gram. Goa witnessed prices declining at 2.57% during the month owing to poor domestic demand despite strong global cues.
Gold rate trend in Goa for August 2017
- In August, gold prices in Goa rose significantly with the domestic trade recovering from the impact of GST.
- Gold was priced at Rs.2,878 per gram when the month commenced.
- The 3rd saw prices hitting their lowest at Rs.2,854 per gram as investors suspended purchases amid the US central bank meeting.
- Gold prices were on the rise for much of the month due to the worsening geopolitical relations between North Korea and the US. This led to gold prices surging to Rs.2.976 per gram on the 29th.
- However, demand dropped with the US economy recovering and the precious metal was trading at Rs.2,956 per gram during the closing hours on the last day.
- Strong global trends coupled with increased domestic demand led to gold rates in Goa inclining at 2.71% during the month of August.
Gold rate trend in Goa for September 2017
- When the month began, the yellow metal was trading at Rs.2,956 per gram.
- North Korea’s successful thermonuclear weapon test led to world markets crashing and investors gravitated towards investments considered safer like gold. This led to gold rates surging to Rs.3,056 per gram on the 8th. This was also the highest recorded monthly figure in Goa.
- The demand, however, dropped over the next couple of weeks with the dollar emerging dominant over other apex currencies. This led to gold prices in Goa plunging to Rs.2,980 per gram on the 23rd.
- The domestic bullion trade surged on the 26th with the arrival of Dussehra pushing local demand higher. The precious metal was recorded trading at Rs.3,029 per gram.
- Prices dropped towards the end of the month owing to the strong dollar and firmer equities market and gold was priced at Rs.2,985 per gram on the last day.
- Goa registered a profit of 0.97% in the domestic bullion trade, thanks to positive global as well as domestic trends.
Gold Rate Trend in Goa for April 2017 to June 2017 (per gram of 24 karat gold)
|1st day||Rs.2,910 per gram||Rs.2,945 per gram||Rs.2,920 per gram|
|Last day||Rs.2,945 per gram||Rs.2,918 per gram||Rs,2,933 per gram|
|Highest price||Rs.2,990 per gram on 15 and 16 April||Rs.2,945 per gram on 1 May||Rs.2,965 per gram on 8 June|
|Lowest price||Rs.2,905 per gram per gram on 10 April||Rs.2,840 per gram from 11-14 May||Rs.2,895 per gram on 20 June|
Gold Rate Trend in Goa for April 2017
- Gold opened at Rs.2,910 per gram on the first day of the month.
- Compared to many other states, the gold rates in Goa inclined by 1.20% in the month of April.
- No fluctuations were seen on the second day of the month as the yellow metal continued to trade at Rs.2,910 per gram.
- A slight increase was noted on the 04th and 05th of the month when the precious metal traded at Rs.2,930 and Rs.2,935 per gram, respectively.
- Gold saw a downhill from 06th to 11th April due to poor demand from the local market.
- The lowest gold rate of the month was Rs.2,905 per gram per gram which was recorded on 10 April.
- As the trend for gold in the international market picked up, gold rates in Goa increased on the 12th of April, when the metal traded at Rs.2,960 per gram.
- Goa recorded the highest gold rate of Rs.2,990 per gram on 15th and 16th of April.
- Though, the gold prices starting falling after the 16th of the month, the overall trend of gold in Goa was positive.
- Overall, the month of April saw an incline of 1.20% in gold rates in Goa.
- Gold closed at Rs.2,945 per gram.
Gold Rate Trend in Goa for May 2017
- Gold traded at Rs.2,945 per gram on the first day of the month. This was the highest gold rate recorded for the month of May.
- Gold rates drifted throughout the first week of May as it succumbed to strong U.S dollar.
- Gold price dropped to Rs.2,905 on 2nd May before finally settling at Rs.2,850 per gram on the 08th of May.
- A slight increase was seen on 9th May when gold increased by Rs.5 per gram and traded at Rs.2,855 per gram but gold rates slipped the next day and traded again at Rs.2,850 per gram on the 10th of May.
- Gold drifted further on the 11th of May and traded at Rs.2,840 per gram and remained the same till the 14th of the month. This was the lowest gold price recorded for the month of May in Goa.
- Though gold rates picked up slowly in the following days, the overall trend of gold in Goa was a down curve.
- In the last week of May, gold price slightly increased and remained stable due to varying demands from both domestic and international gold spots.
- Gold closed at Rs.2,918 per gram.
Gold Rate Trend in Goa for June 2017
- Gold rates increased slightly on the first day of the month and traded at Rs.2,910 per gram.
- The highest price for the month of June was recorded on the 8th when gold traded at Rs.2965 per gram.
- Experts believe that gold prices picked up due to visible fluctuations in the U.S dollar under Trump’s leadership which increased the demand for the yellow metal in the bullion market.
- Markets were also shaky as the G20 summit was underway and global leaders deliberated on socio-economic policies.
- Local demand was muted in spite of favourable market conditions, as evidenced by gold prices falling to Rs.2,930 per gram from 10-14 June.
- While U.S. markets were still uncertain due to poor jobs data, the U.S. dollar gained on other global currencies.
- Gold prices drifted and hit the lowest when it traded at Rs.2,895 per gram on 20 June.
- Gold prices were on the decline for the remainder of the month due to lowered demand from Asia and Europe.
- The month ended with gold trading at Rs.2,920 per gram on 30 June, registering a loss in value of 0.44% over the course of the month.
Gold Rate Trend in Goa for July 2016 to September 2016 (per gram of 24 karat gold)
|1st day||Rs.3,130 per gram||Rs.3,190 per gram||Rs.3,125 per gram|
|Last day||Rs.3,170 per gram||Rs.3,140 per gram||Rs.3,160 per gram|
|Highest price||Rs.3,205 per gram on 7th July||Rs.3,225 per gram on 3rd August||Rs.3,190 per gram from 25th-29th September|
|Lowest price||Rs.3,120 per gram on 21st July||Rs.3,190 per gram on 31st August||Rs.3,115 per gram on 2nd September|
|Trend||Increase in price||Decrease in price||Increase in price|
Gold Rate Trend in Goa for July 2016
- Gold in Goa traded at Rs.3,130 per gram on 1st July, with the price rising as demand rose due to market instability.
- Prices reached Rs.3,205 per gram on 7th July as domestic demand increased, reflecting global trends.
- Prices fell slightly as demand lessened, with gold trading at Rs.3,135 per gram on 14th July.
- Flagging markets led investors to gold, with prices rising to Rs.3,170 per gram on 16th July but falling as the week progressed.
- Prices fell to their lowest of the month at Rs.3,120 per gram on 21st July as domestic demand was weak, though prices recovered to close at Rs.3,170 per gram on 31st July.
Gold Rate Trend in Goa for August 2016
- Gold traded at Rs.3,190 per gram on 1st August and rising to Rs.3,225 per gram on 3rd August as markets were weak, prompting higher demand for gold during the first week.
- Prices dropped slightly in the second week, with gold trading at Rs.3,165 per gram on 8th August as demand from the domestic market lessened.
- Demand was steady, with gold trading at Rs.3,175 per gram on 15th August and rising to Rs.3,200 per gram on 19th August.
- Prices stayed constant as international markets reflected a diminishing interest in gold due to recovering markets, with gold closing the month at Rs.3,140 per gram, decrease of 1.5% from the price at the start of August.
Gold Rate Trend in Goa for September 2016
- Initial trading in gold was muted, with the price being Rs.3,125 per gram on 1st September and falling to the month’s low of Rs.3,115 per gram on 2nd September.
- Prices rose as domestic demand rose due to the festive season, with gold trading at Rs.3,185 per gram on 7th September.
- Prices continued to be high as demand was steady, reflecting international trends.
- Demand fell as currency markets recovered, with lowered demand for gold resulting in the price falling to Rs.3,155 per gram on 16th September.
- Prices stayed low till 25th September, when a fall in the markets resulted in the price rising to Rs.3,190 per gram.
- Gold ended the month at Rs.3,160 per gram, a marginal increase of 1.12% over the price at the start of the month.
Gold Rate Trend in Goa for April 2016 to June 2016 (per gram of 24 karat gold)
|1st day||Rs. 2,905 per gram||Rs. 3,070 per gram||Rs.2,915 per gram|
|Last day||Rs. 3,070 per gram||Rs. 2,895 per gram||Rs.3,130 per gram|
|Highest price||Rs.3,070 per gram on 30th of April||Rs. 3,080 per gram on the 7th and 8th of May||Rs.3,200 per gram on the 24th of June|
|Lowest price||Rs. 2,880 per gram on the 4th of April.||Rs. 2,960 per gram from the 28th to the 31st of May||Rs.2,915 per gram on the 1st of June|
Gold Rate Trend in Goa in April 2016
- Gold traded at Rs. 2,905 per gram on the 1st of April.
- Gold hit the lowest for the month on 4th at Rs.2,880 per gram.
- Gold traded at Rs. 3,070 per gram by the end of the month on 30th of April.
Gold Rate Trend in Goa in May 2016
- Gold traded at Rs.3,070 on the 1st of May with no change in prices.
- Gold hit the highest for the month at Rs.3,080 on the 7th and 8th of May.
- Gold prices further declined as the month progressed as gold closed the month at Rs.2,960 per gram on the 31st of May.
Gold Rate Trend in Goa in June 2016
- Gold opened the month at Rs.2,915 per gram on the 1st of June.
- Gold hit the highest for the month at Rs.3,200 per gram on the 24th of June.
- Gold closed the month at Rs.3,130 per gram on 30th of June.
Gold Rate Trend in Goa for January 2016 to March 2016 (per gram of 24 karat gold)
|1st day||Rs. 2,540 per gram||Rs. 2,708 per gram||Rs. 2,975 per gram|
|Last day||Rs. 2,710 per gram||Rs. 2,960 per gram||Rs. 2,900 per gram|
|Highest price||Rs. 2,715 per gram on January 27th and 28th.||Rs. 2,975 per gram on February 26th and 27th.||Rs. 2,975 per gram from March 1st to 6th.|
|Lowest price||Rs. 2,540 per gram on January 1st.||Rs. 2,708 per gram on February 1st||Rs. 2,870 per gram from March 28th.|
Gold Rate Trend in Goa in January 2016
- Gold opened the month at Rs. 2,540 per gram on the 1st of January.
- The price of gold increased over the next two weeks and hit the highest for the month at Rs.2,715 per gram on the 27th and 28th of January.
- Gold closed the month at Rs. 2,710 per gram.
Gold Rate Trend in Goa in February 2016
- Gold traded at Rs. 2,708 per gram on the 1st of February.
- Gold prices climbed up in the first week of February and hit Rs. 2,815 per gram on the 6th of February.
- Gold hit its highest for the month on 27th and 28th February at Rs.2,975 per gram.
- Gold traded at Rs.2,760 on the 29th of February.
Gold Rate Trend in Goa in March 2016
- Gold price increased by Rs.15 from the last day of February and traded at Rs.2,975 per gram on the 1st of March.
- Low demand led to a decline as gold was at its lowest for the month at Rs. 2,870 per gram on 28th of March.
- Gold closed the month at Rs.2,900 per gram on the 30th of March.
Details of Gold Price in Goa (22 Karat & 24 Karat) - Till August 2015
Just as it is found in other states, gold trade and the rates in the state vary depending on the purity. 22 karat and 24 karat gold rates in Goa are generally the two most important rates to be noted:
22 Karat Gold:The rate of 22karat gold per gram in July 2015 was around Rs.2282. The highest gold rate in Goa in early August 2015 has been around Rs. 2450 per gram. Also, in the month of August and in the earlier days the average rate of gold was approximately Rs. 2346 of one gram 22 karat gold in Goa. the rates have fallen approximately by 6.93% from mid July 2015 to mid August 2015. This in respect of the time mentioned, is directly related to the falling prices of gold worldwide. India is one of the largest gold importers after China, in the world. This drastic dip also took a toll on the gold rates in Goa.
24 Karat Gold: The rate of 24 karat gold as of August, 2015 is Rs. 2519 per gram. However the gold rate in Goa, in the month of July was around Rs.2489. the rate of the yellow metal have not shot up drastically, but shown little movement. The highest gold rates in goa between July and August 2015 was approximately Rs. 2673 per gram of 24 karat gold. the average price of gold around this period was around Rs. 2559 for 24 karat gold per gram. Hence, 24 karat gold prices saw a similar trend to 22 karat gold affected by the dropping rates worldwide.
Gold Investment Avenues in Goa
Goa is one of the most exotic places in India, because of its offbeat culture from the rest of the country. Despite colonisation and the civil disturbances of 1961, this beautiful state has come through as a wealthy region of the country. Hence, gold is not something that is ignored here.
Over The Counter: Gold is sold in coins, bullions and jewelery. The cosmopolitan and Indian fusion has created a base for jewelry buyers and designers alike. Investors can buy gold from the various bullion dealers such as Pentagon, Pushpak and Muthoot etc. The usual brands such as Tanishq and Malabar Gold are jewellers well known in Goa. due to Goa’s adequate location there is a demand for gold from tourism industry as well.
Trade: Spot contracts, futures contracts and exchange-traded funds (ETF) are the most common ways of gold trade in international gold rates. The gold ETFs are traded through the Mumbai sTock Exchange.
- Also Check:Gold Rate in Panaji
Read more on Gold