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Gold Rate in Guwahati
Guwahati, the largest city and fastest growing city of Assam has a strong bond with gold dating back to centuries. This city becomes a hub for gold lovers during festivals like Danteras and Diwali, attracting people from nearby towns and states. With business enterprises discovering Guwahati, there are increased job opportunities for residents here, leading to higher disposable incomes. Better incomes offer investment opportunities for people, which is where gold steps in, as the most preferred form of investment here. Gold rates in Guwahati are a reflection of international gold rates, with prices varying according to the politico-economic scenario in the country.
Gold jewellery continues to be a favourite among Guwahati residents, with gold coins, bars, ETFs and E-gold slowly gaining popularity.
Trend of Gold Rate in Guwahati for November 2016 (rates per gram for 24karat gold)
|1st Day||Rs.3,130 per gram|
|Last Day||Rs.2,926 per gram|
|Highest Price||Rs.3,910 per gram on 3rd November|
|Lowest Price||Rs.2,919 per gram on 27th November|
November ‘16 – Week 1 (1st-6th)
- Gold traded at Rs.3,130 per gram on 1st November. This rate was sustained throughout the next day as well.
- On the 3rd of November, 2016, price of gold surged up to Rs.3,190 per gram and rose further.
- This rate was maintained until the next day. This was also the highest rate at which gold traded during the month of November.
- Price of gold fell to Rs.3,102 per gram over the course of the next two days.
- There were minor variations in the rate of gold over the next few days.
November ’16- Week 2 (7th-13th)
- The price of gold on the first day of week 2 was a lot higher than that of the previous week.
- Gold traded at Rs.3,170 per gram on 7th and decreased slightly the next day.
- The rate of gold was stable at Rs.3,154 per gram from 9th November till the end of the week.
- This change in gold rates could be attributed to the recent demonetization rule.
- There were very minor changes in the price of gold during this week.
November ’16- Week 3 (14th-20th)
- Gold rates plunged to Rs.3,117 per gram on the first day of week 3.
- This decline in gold rate continued the next day as well.
- On November 15th, gold rate declined even further to be priced at Rs.3,106 per gram.
- This rate was sustained until the next day.
- As the week progressed, the price of gold continued to decline steadily.
- On the last day of the week, gold traded at Rs.3,007 per gram.
November ’16- Week 4 (21st-27th)
- Low rate of gold continued until the 22nd after which a minor increase in gold prices was noted. However, on the 23rd, price of gold plunged further and continued to decline.
- The lowest rate at which gold traded during the week was Rs.2,919 on 27th. This was also the lowest rate of gold for the month of November.
- There were few variations that were noticed during week 4 of November.
November ‘16 – Week 5 (28th-30th)
- Gold traded at Rs.2,951 per gram on 28th of November.
- This rate was sustained until the end of the week.
- There was a decline of 6.51% in the rate of gold as compared to the beginning of the month.
- Gold rate closed at Rs.2,926 per gram.
|1st Day||Rs.3,244 per gram|
|Last Day||Rs.3,130 per gram|
|Highest Price||Rs.3,244 per gram on 1st to 11th October|
|Lowest Price||Rs.3,100 per gram on 18th October|
October 2016 – Week 1 and 2 (1st to 9th)
- Muted demand in the domestic market kept prices steady this week.
- Gold traded at Rs.3,244 per gram from 1st to 9th October.
- In the global market, trends did not favour gold.
- The U.S. Federal Reserve raised expectations of the interest rate hike.
- Demand is expected to pick up in the domestic market in light of the upcoming festive and wedding season.
October 2016 – Week 3 (10th to 16th)
- Gold traded at Rs.3,244 per gram on 10th and 11th October.
- Prices fell this week as market trends were weak.
- Domestic demand went through a slump period.
- Strong U.S. economic data indicated that a rate hike could be possible soon.
- Gold traded at Rs.3,104 per gram on 15th and 16th October.
October 2016 – Week 4 (17th to 23rd)
- Gold continued to trade at low rates at the start of the week.
- The lowest price for this month was recorded on 18th October with gold trading at Rs.3,100 per gram.
- Demand picked up as buyers began their festive shopping early.
- The U.S. Federal Reserve was uncertain of the rate hike till December.
- Gold traded at Rs.3,129 per gram on 22nd and 23rd October, the highest price for this week.
October 2016 – Week 5 (24th to 31st)
- The dollar weakened and worked well for gold.
- Gold traded at Rs.3,139 per gram on 26th October, the highest price for this week.
- By 27th October, gold had settled at Rs.3,130 per gram and remained unchanged for the rest of the month.
- There was a decline of 3.51% in gold prices this week.
|1st Day||Rs.3,218 per gram|
|Last Day||Rs.3,244 per gram|
|Highest Price||Rs.3,244 from 7th to 30th September|
|Lowest Price||Rs.3,200 on 5th and 6th September|
September '16 - Week 1 (1st to 4th)
- The price of gold was Rs.3,218 per gram at the start of this month.
- Gold rates climbed this week as demand grew stronger this week.
- Economic data from the U.S. indicated that the economy was weak squashing hopes of the Federal Reserve’s rate hike this month.
- Gold traded at Rs.3,239 per gram on 3rd and 4th September.
September '16 - Week 2 (5th to 11th)
- Prices initially this week as demand was low for gold.
- The U.S. Federal Reserve raised expectations of the interest rate hike even though economic data was weak.
- Gold traded at Rs.3,200 per gram on 5th and 6th September.
- But by 7th September, prices climbed again to Rs.3,244 per gram.
- A constant trend swept over gold prices in Guwahati till the end of the week.
September '16 - Week 3 (12th to 18th)
- As demand in the domestic market was stable, prices remained constant this week.
- Gold traded at Rs.3,244 per gram from 12th to 18th September.
- Gold prices were unaffected by global trends.
September '16 - Week 4 (19th to 25th)
- In the global market, the outlook turned bullish as the interest rate hike by the U.S. Federal Reserve was put on hold in light of the approaching presidential elections.
- Gold prices in Guwahati remained unchanged from the previous week.
- The constant trend can be attributed to steady domestic demand on account of the festive season.
- Gold traded at Rs.3,244 per gram from 19th to 25th September.
September '16 - Week 5 (26th to 30th)
- Gold continued to travel down the constant path this week as prices remained unchanged.
- Gold traded at Rs.3,244 per gram from 26th to 30th September.
- In the global market, the dollar gained and prices of gold fell.
- Global trends did not have an effect on the gold prices in Guwahati.
- For a major part of the month of September, the trend for gold was a constant rate.
|First Day||Rs.3,271 per gram|
|Last Day||Rs.3,237 per gram|
|Highest Price||Rs.3,287 per gram from 5th to 7th of August|
|Lowest Price||Rs.3,232 per gram on 09th August|
August '16 - Weeks 1 (1st to 7th)
- Gold traded at Rs.3,271 per gram on the 1st August.
- This week witnessed an increasing trend in gold prices expect on 04th of August when gold rates fell and traded at Rs.3,266 per gram, the lowest gold rate recorded for the week.
- As demand poured in from domestic market, gold rates increased and hit Rs.3,287 per gram on the 05th of August and continued to traded at the same rate till the end of the week, which is the highest gold rate recorded for the month of August.
August '16 - Week 2 (8th to 14th)
- A slight decrease in gold rate was reported on the 08th of August when gold opened at Rs.3,248 per gram.
- Gold prices kept fluctuated throughout the week as U.S Federal Reserve hinted a interest rate hike.
- Gold drifted to Rs.3,239 per gram on 12th of August before settling at Rs.3,248 per gram on 13th and 14th of August.
August '16 - Week 3 (15th to 21st)
- Gold rates were steady for the three days of the week when gold traded at Rs.3,248 per gram on 15th, 16th and 17th of the month.
- As investors put aside Fed rate hike speculation, gold rates increased on the 18th of August when gold traded at Rs.3,277 per gram and remained unchanged till the end of the week.
- The increasing trend this week was due to the constant demand from domestic jewellers and coin makers.
August '16 - Week 4 (22nd to 28th)
- Though gold did not perform great in global market, gold rate in Guwahati managed to remain unchanged.
- Throughout the week, gold traded at Rs.3,277 per gram.
- Firm dollar, positive U.S employment rate and Fed rate hike speculation did not decrease the gold rates in India this week.
- The constant trend in gold prices was achieved mainly because of the steady and constant demand from domestic gold spots.
August '16 - Week 5 (29th to 31st)
- After sustaining for one week, gold rate fell on 29th of August and traded at Rs.3,237 per gram.
- Gold price succumbed to firm dollar, growing U.S economy and the much awaited Fed rate hike speculation.
- Though gold didn’t pick up throughout the week and closed at Rs.3,237 per gram, experts predicted that gold will increase in the second half of the year on account of the upcoming festivals in India.
|1st July Rate||Rs.3,252 per gram|
|31st July Rate||Rs.3,292 per gram|
|Highest Rate in July||Rs.3,305 per gram on 7th July|
|Lowest Rate in July||Rs.3,218 per gram from 27th-29th July|
|Overall Performance||Increase in price|
|% Change||+1.23% increase|
July'16 - Week 1 (1st to 3rd)
- Gold prices dropped marginally in the first week in spite of markets being low.
- Domestic demand was low, leading to prices dropping.
- Gold traded at Rs.3,244 per gram as the week ended.
July'16 - Week 2 (4th to 10th)
- Gold prices rose significantly as markets were still unstable due to fluctuations.
- The Dollar continued to trade low, spurring gold purchases.
- Gold reached its monthly high of Rs.3,300 per gram before settling at Rs.3,281 per gram at the end of the week.
July'16 - Week 3 (11th to 17th)
- Prices began to drop as the markets recovered, with demand for gold falling.
- A spurt in demand domestically kept prices from falling too steeply.
- Gold prices slid to Rs.3,261 per gram, a decrease of Rs.23 from the beginning of the week.
July '16 - Week 4 (18th to 24th)
- Prices rose but slumped towards the middle of the week due to a dip in demand and unfavourable overseas trends.
- The rising Dollar led to lowered demand on the international market.
- Gold retailed at Rs.3,243 per gram at the end of the week, a difference of Rs.4 from the start of the week.
July‘16 - Week 5 (25th to 31st)
- An unfavourable prediction of U.S. economic growth led to markets falling and demand for gold rose again.
- The domestic market slowly reflected the international trend.
- Gold jumped to Rs.3,292 per gram, an increase of Rs.49 from the beginning of the week.
|1st June rate||Rs.2,918|
|30th June rate||Rs.3,103|
|Highest rate in June||Rs.3,180 per gram on 30th June|
|Lowest rate in June||Rs.2,911 per gram on 3rdJune|
Jun'16 - Week 1 (1st to 4th)
- There were a number of variations in the rate of gold throughout the entire month of June.
- Gold opened at Rs.2,918 per gram on the 1st of the month.
- There was a minor increase in the price of gold on the 2nd.
- A decrease was noted in the price of gold wherein the price was Rs.2,911 per gram on the 3rd.
- An increase was again noted in gold rate on the 4th with the price of gold being Rs.2,974 per gram.
Jun'16 - Week 2 (5th to 11th)
- There were minor variations noted in the price of gold throughout the second week of the month as well.
- The rate of gold on the 5th was the same as the last day of the previous week at Rs.2,974 per gram.
- The ate of gold fluctuated between Rs.2,970 per gram to Rs.2,973 per gram between the 5th of June to the 8th of June.
- The rate of gold crossed Rs.3,000 on the 9th and continued rising from thereon.
- Gold closed at Rs.3,039 per gram on the last day of the week.
Jun'16 - Week 3 (12th to 18th)
- There were many variations in the rate of gold throughout the entire third week of June.
- The week opened with gold being priced at Rs.3,039 per gram and continued rising steadily.
- The rate of gold was Rs.3,072 per gram on the 15th and rose to Rs.3,110 per gram on the 16th.
- There was decline in the price from there and on the last day of the week, the price of gold was Rs.3,087 per gram.
Jun'16 - Week 4 (19th to 25th)
- The week opened with gold being priced at Rs.3,087 per gram.
- There was a minor decline noted in gold rate after that until the 23rd wherein the rate hovered between Rs.3,070 per gram to Rs.3,023 per gram.
- A significant increase in gold rate was witnessed from the 24th onwards with gold being priced at Rs.3,156 per gram on the 24th.
- On the last day of the week, the price of gold was Rs.3,165 per gram which was also the highest for the week.
Jun'16 - Week 5 (26th to 30th)
- The price of gold was relatively high in the final week of the month.
- On 27th, gold rate was Rs.3,180 per gram which was the highest for the entire month.
- There was decline noted in the price of gold after that.
- The month closed with gold being priced at Rs.3,103 per gram.
|1st May rate||Rs.3,018|
|31st May rate||Rs.3,003|
|Highest rate in May||Rs.3,157 from the 7th to the 11th of May|
|Lowest rate in May||Rs.3,003 from the 27th to the 31st of May|
|Overall performance||Loss / Negative|
May'16 - Week 1 (1st to 7th)
- Prices were recorded at Rs.3,018 on the 1st day of the month and Rs.3,157 on the 7th.
- Prices increased by Rs.31 on the 2nd day of the month to Rs.3,049, after which a loss of Rs.10 saw prices drop to Rs.3,039 and they remained unchanged until the 5th of the month
- Prices fell by Rs.16 on the 6th and settled at Rs.3,123 before an increase of Rs.44 saw them increase and close the week at Rs.3,157.
- Between the first and last day of the first week of May, prices recorded an increase of Rs.141.
May ‘16 - Week 2 (8th to 14th)
- Gold rates remained unchanged on the first four days of the second week and prices remained at Rs.3,157 until the 11th of May.
- A decline by Rs.41 on the 12th of May saw prices fall to Rs.3,108.
- A marginal increase of Rs.3 saw prices rise to Rs.3,111 and prices remained unchanged on the last day of the week as well.
- The overall decline in prices when comparing the first day of the week with the last was Rs.46.
May ‘16 - Week 3 (15th to 21st)
- Gold prices increased by Rs.20 on the first day of the third week of May and climbed to Rs.3,131 and remained unchanged for another day.
- Prices then declined by Rs.8 to Rs.3,123 on the 17th after which a loss of Rs.4 on the 18th saw prices fall to Rs.3,119 and remain there until the 20th of the month.
- A further decline by Rs.27 saw gold close the week at Rs.3,092 per gram.
- Gold prices declined by Rs.39 at the end of the week in comparison with the first day of the week.
May ‘16 - Week 4 (22nd to 31st)
- Gold prices started the final week of May with a marginal decline on the 22nd, and prices were recorded at Rs.3,087.
- Prices fluctuated between the 23rd and 26th of May.
- Prices fell by Rs.37 to Rs.3,003 on the 27th of May and remained unchanged until the end of the month. Rs.3,003 was also the lowest recorded rate in the month of May.
- The overall decline in prices between the first and last day of the month was Rs.15.
|1st April rate||Rs 3,018|
|30th April rate||Rs 3,018|
|Highest rate in April||Rs 3,018 throughout the month|
|Lowest rate in April||Rs 3,018 throughout the month|
|Overall performance||No Change|
Apr ‘16 - Week 1 (1st to 3rd)
- Demand for gold in Guwahati declined on account of international trends and market conditions.
- Gold traded at Rs 3,018 on 1st, with no change observed over the week.
Apr ‘16 - Week 2 (4th to 10th)
- There was no change in gold rates from the previous week.
- Gold continued to trade at Rs 3,018.
Apr ‘16 - Week 3 (11th to 17th)
- Changing international trends had no impact on local gold trade.
- Prices remained unchanged, trading at Rs 3,018.
Apr ‘16 - Week 4 (18th to 24th)
- There was no change in gold rates from the previous week.
- Gold continued to trade at Rs 3,018.
Apr ‘16 - Week 5 (25th to 30th)
- There were no changes observed in gold rates over the month.
- Gold traded at Rs 3,018, ending the month on par, with no gain or loss recorded.
|1st March rate||Rs 3,090|
|31st March rate||Rs 3,018|
|Highest rate in March||Rs 3,090 from 1st to 18th|
|Lowest rate in March||Rs 3,018 from 22nd to 30th|
Mar'16 - Week 1 (1st to 6th)
- Protests against the decision to hike excise duty on gold were witnessed in Guwahati.
- These protests had an inverse effect on gold trade.
- Gold rates were unchanged through the week, selling at Rs 3,090.
Mar'16 - Week 2 (7th to 13th)
- Protests continued into the second week, impacting trade.
- There were no changes in gold rates on account of protests.
- Prices remained constant at Rs 3,090.
Mar'16 - Week 3 (14th to 20th)
- The week began with no change in gold rates.
- A few jewellers reopened their stores for business.
- Prices changed on 19th, dropping to Rs 3,019 from Rs 3,090.
- There were no further changes in the week.
Mar'16 - Week 4 (21st to 27th)
- Most jewellery stores were now open for business.
- Prices dropped marginally on 22nd, as gold traded at Rs 3,018.
- There were no further rate changes in the week.
Mar'16 - Week 5 (28th to 31st)
- Prices remained unchanged from the previous week.
- Gold traded at Rs 3,018 till the end of the month.
|1st February rate||Rs.2,692|
|29th February rate||Rs.3,067|
|Highest rate in February||Rs.3,092 on 26th|
|Lowest rate in February||Rs.2,692 on 1st|
Feb '16 - Week 1 (1st to 7th)
- Gold prices appreciated at the beginning of February.
- Rates were Rs.2,692 on 1st and Rs.2,882 on 7th.
- Gold rose continuously through the week, rising to Rs.2,882 by 7th and clocking an overall gain of Rs.192 over the week.
Feb '16 - Week 2 (8th to 14th)
- Gold continued its winning streak in the second week.
- Prices were Rs.2,864 on 8th and Rs.3,030 on 14th.
- Gold was once again up on all days, and breached the 3,000 mark for the first time this month on 12the when it was priced at Rs.3,051.
- Prices slid marginally to Rs.3,030 by 14th.
Feb '16 - Week 3 (15th to 21st)
- Gold prices were up in the third week also.
- Prices were Rs.2,992 on 15th and Rs.3,038 on 21st.
- Gold dropped to Rs.2,942 by 17th before rallying from behind to cover the losses and post some profit by the end of the week.
- Gold rose by an overall margin of Rs.46 over the week.
Feb '16 - Week 4 (22nd to 29th)
- Gold ended February on a positive note.
- Prices were Rs.2,997 on 22nd and Rs.3,067 on 29th.
- Gold rose consecutively to Rs.3,092 by 26th before sliding over the next three days to settle at Rs.3,067 for the month.
Details of Gold Price in Guwahati (22 Karat & 24 Karat) - Till October 2015
Gold rates in Guwahati differ depending on the purity of gold, with 24 karat gold costing more compared to 22 karat gold. Gold rates for both 22 and 24 karat gold in Guwahati are mentioned below.
22 Karat Gold – One gram of 22 karat gold will set you back by Rs 2,548 (as of October 15, 2015). 22 karat gold is slightly cheaper than 24 karat gold on account of purity, with 92% pure gold in every piece. Gold prices in Guwahati have seen major ups and downs in the recent past, with prices jumping in August 2014 and January 2015, before gradually declining towards the middle of 2015. July witnessed some of the lowest gold rates in the city, as prices fell to a five year low. Gold prices have steadily increased in October 2015, rising by almost Rs 50 since October 7.
24 Karat Gold – With 99.9% purity, 24 karat gold is the purest form of gold one can purchase. Individuals wishing to purchase one gram of 24 karat gold in Guwahati would need to pay Rs 2,726 (as of October 15, 2015). Current prices have steadily increased after a tumultuous year, which saw gold prices fall to a five year low in July-August, when one gram of 24 karat gold could be purchased for around Rs 2,500. A close relation can be observed between the prices of 22 and 24 karat gold on account of international gold trends. January 2015 witnessed some of the highest gold prices in 2015, with rates touching the Rs 2,700 per gram mark.
Gold investment avenues in Guwahati
Gold forms an integral part of investments in Guwahati, with different options available to residents to suit their requirements.
Over-the-counter – Gold jewellery, coins and bullion still remain the preferred mode of gold investments in Guwahati, with a number of jewellers and banks offering products for every budgets. Gold prices for products purchased through banks could be higher than prices offered by jewellers on account of quality assurance. GS road is considered a hub for gold jewellers, with stores like Manikchand Jewellers offering a multitude of products to gold enthusiasts.
Market trade – Another avenue which is slowly finding acceptance in Guwahati is E-gold, futures contracts and Exchange Traded Funds, with ETFs being considered a safe investment option.
Also Check Gold Price in NearBy Cities of Guwahati
|Gold Rate in Kolkata||Gold Rate in Patna||Gold Rate in Ranchi|
|Gold Rate In Jamshedpur||Gold Rate In Siliguri|
- Also Check:Gold Rate in Assam
|Also Know: Silver Rate in Guwahati|
Read more on Gold
- Why Investing In Gold Is A Golden Opportunity
- Gold Rates Trend in 2015
- Basic Highlights of The Gold Schemes Launched in 2015
- Tips for Buying Gold Jewellery
- Gold Rates Fluctuation – Why Gold Is On A Roller Coaster Ride
News About Gold rate in Guwahati
Global indicators push gold rates
TStrong global indicators helped gold rates soar in India, as prices went up by 0.20% locally. Gold futures for June delivery traded at Rs 28,663 for 10 grams, up by 0.27%, while gold for April delivery traded at Rs 28,464 for 10 grams, up by 0.20%. Current prices for gold can be attributed to increased global demand, which saw gold rates go up by 0.30% globally.
31st March 2016
Gold goes down on Monday
The yellow metal has probably had its worst day on Monday as far as its rates are concerned. The rates dropped majorly due to comments from US Federal Reserve officials hinting at two tax rate hikes on gold and a stronger dollar since the past week.
Spot gold went down by 0.5% and came to rest at 1210.50 dollars an ounce just above the session low of 1209.26 dollars an ounce. Future gold delivery for April slipped by 0.9% to 1210.90 dollars an ounce.
29th March 2016
Global cues lead to drop in gold prices
Global gold prices witnessed a significant drop on account of limited demand, with investors choosing to play it cautiously. Gold futures for April traded at Rs 28,830 for 10 grams, a drop of Rs 219 or 0.75%. Gold futures for June were down by Rs 221, trading at Rs 29,124 for 10 grams on the Multi Commodity Exchange. Experts attribute the losses to weak international trends, which saw global rates fall by around 0.4%.
23rd March 2016
Profit-booking decreases gains in gold
The prices of US Gold slipped on Tuesday, March 08, 2016 with a negative Chinese exports data pushing investors to lock in gains on commodities. The exports in China, which is the world’s second-biggest economy, decreased by 25.4% in February 2016, as compared to last year. An drop for the eighth straight month was also noticed in the data received from the General Administration of Customs.
Gold futures at India's Multi Commodity Exchange (MCX) is expected to trade weakly. in case of intraday, MCX Gold for delivery in April is seen at 29540 and 29900 is the resistance for the same.
9th March 2016
Sovereign Gold Bond scheme will be see the third tranche
The Sovereign Gold Bond scheme will have the third tranche, with the earlier tranches being successful, the government has decided to launch it again. The first tranche of scheme came in November 2015, where the precious metal was subscribed for 915.95 kg of gold worth Rs 246 crore. The second tranche in January this year received a subscription for 3,071 kg gold worth Rs 798 crore. The government hopes to raise more money this time.
7th March 2016
Gold Rates pick up as Dollar drops
Gold and silver have been going through quite the rollercoaster ride since the past year in 2015 owing to the doubts and concerns surrounding the probable hike of the tax rates on gold bullion by the Federal Reserve.
Yesterday, in the face of a weakly performing dollar, gold closed at 14 dollars higher than its usual rate making a mark of USD 1256.60. Prospects are looking up for the yellow metal as its shiny white sibling silver also looked in the pink, closing at 15.13 dollars, gaining a 0.14 fraction of a dollar.
4th March 2016
Gold Plummets After Recent 4 Year High
Gold prices fell on Tuesday after a significant rally by both the dollar as well as global equity markets due to U.S date surpassing expectations. The price drop led to further speculation that U.S interest rates could be raised by the Fed in the near future.Senior investment strategist for U.S Bank Wealth Management in Minneapolis, Rob Haworth, stated that the strengthening of the U.S dollar has put a headwind into the global market. Spot gold closed at $1,235.96, down by 0.2 percent, following its biggest climb in four years, while U.S gold futures GCv1 closed at $1,230.80.
2nd March 2016
Gold Rates might hit a Four-year High
Post the languishing condition of the yellow metal which started abruptly in the middle of the last year, gold and silver have been gaining back on their rates. In London, gold gained by 1%, owing to the lower share values and a weaker dollar.
Despite the increasing rates of gold and its likely appearance being that of a good asset, demand in India remained less as people eagerly wait for an income tax cut post the Union Budget.
1st March 2016
Gold price in Asia eased off
Easing of gold prices in Asia, with the help of the global monetary policy. The delivery for April on the Comex division of the New York Mercantile Exchange reduced by 0.21% and stood at $1,236.20. Even silver which was for March delivery gained 0.26% and stood at $15.210 for a troy ounce.
26th February 2016
Gold Imports in February Likely to be Lowest in 2 Years
Gold imports in India are expected to be the lowest in two years in February amid rising prices and expectations of a reduction in import duty.
An average of the estimates from 5 industry buyers revealed that the February gold import numbers could be as low as 25 tonnes. This would be 67% less than that in January this year, and the lowest since September 2013.
While this is not good news for global gold prices, the Indian government, which has been trying to cut gold imports would rejoice.
Banks and trading agencies have cut down their imports and are offering high rebates in global markets to clear their inventory because of low demand, according to All India Gems and Jewellery Trade Federation.
25th February 2016
- For more related news /update on gold price visit: Gold News