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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.
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.
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.
- Also Check:Gold Rate in Panaji
Read more on Gold
- Best Time To Buy Gold 2017
- Know About Hallmark, Kdm And 916 Varieties Of Gold
- How Do Fluctuations In The Gold Rate Affect The Indian Economy?
- Tips For Buying Gold Jewellery
- Beginners Guide To Trading Gold Through Mcx
News About Gold Rate in Goa
2015-16 see a fall of almost 8% in Gold Imports
India’s current account deficit will be affected by weak global prices. In 2015-16, Gold imports have declined by around 8% to $31.72 billion. In 2014-15, gold imports were at $34.38 billion. This could be blamed on the reducing prices of Gold in both domestic and global markets.
The imports reduced a second time in March when it reduced by 80.48% to become $972.96 million.
The reduction in the imports has aided India narrow its trade deficit to the lowest it has been in five years (which was $5.07 billion in March). Last year, the deficit was at $11.39 billion.
Akshaya Tritiya is an auspicious day in our country, with Hindus and Jains across different denominations celebrating it with fervour.
22nd April 2016
Gold rises as dollar weakens
The price of an ounce of spot gold rose by $11.70 from $1,243 in London on the back of a weak dollar on Tuesday. Since June 2015, the price of silver has also been increasing and current pegged at $16.65/16.67.
21st April 2016
- For more related news /update on gold price visit: Gold News