*Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.
Gold Rate in Haryana
Gold rates in Haryana depend on various factors such as gold imports, current account deficit of India, global oil prices, strength of the dollar and US Fed interest rate rike among others. The price of the yellow metal touched a 4-year low in India and over a five-year low across the globe this year. About 60% of the demand for gold originates from rural India. Consequently, crop failure, inadequate monsoon and decreasing purchasing power will invariably hit gold sales, especially during weddings, according to experts.
Most consumers in Haryana buy gold jewellery for special occasions such as Dhanteras and Akshaya Tritiya. In Gurgaon, customers buy more gold coins than jewellery during auspicious days. Buying silver idols of Ganesh and Lakshmi and coin on Dhanteras is commonplace. Many jewellers in Haryana accept bookings for new jewellery weeks in advance to deliver them on the auspicious day of Akshaya Tritiya.
Gold is, by and large, preferred to bank deposits as a savings and investment instrument in several villages and towns across India including Haryana. However, according to Crisil, the price of gold fell 7.80 per cent in July this year.
Trend of Gold Rate in Haryana for January 2017 (rates per gram for 24karat gold)
|January 1st Rate||Rs.2,844 per gram|
|January 31st Rate||Rs.2,958 per gram|
|Highest Rate in January||Rs.2,979 per gram on 23rd & 24th January|
|Lowest Rate in January||Rs.2,844 per gram from 1st-3rd January|
January ‘17 - Week 1 (1st to 7th)
- The gold price in Haryana for the month of January rose due to higher demand from the industrial sector and favourable market conditions.
- Gold traded at Rs.2,844 per gram on 1st January, as stable demand kept prices constant till 3rd January.
- Increased demand from the industrial sector led to a rise in price, as local demand also rose.
- Gold was priced at Rs.2,866 per gram on 6th January as markets dipped marginally, which prompted a higher demand for gold.
- Gold traded at Rs.2,866 per gram on 7th January, recording an increase of Rs.22 per gram over the week.
January ‘17 - Week 2 (8th to 14th)
- The second week of January saw gold prices continue to rise due to favourable market conditions, trading at Rs.2,866 per gram on 8th January.
- Prices rose to Rs.2,888 per gram on 10th January as industrial orders rose from Asia, as the U.S. Dollar was unstable and fell on poor trading.
- Gold futures also rose as gold prices kept increasing, reaching Rs.2,925 per gram on 12th January on consistent demand both domestically as well as internationally.
- Gold traded at Rs.2,941 per gram on 14th January, an increase of Rs.75 per gram over the week.
January 2017- Week 3 (15th to 21st)
- Gold prices continued to rise in the second week on strong demand from the Asian markets.
- Gold traded at Rs.2,941 per gram on 15th January, rising to Rs.2,973 per gram on 18th January due to higher demand from Asia before the Lunar New Year.
- Prices fell as demand declined, with gold trading at Rs.2,952 per gram on 20th January on poor domestic demand.
- Gold prices rose marginally towards the end of the week, trading at Rs.2,963 per gram on 21st January, to record a weekly increase of Rs.22 per gram.
January 2017- Weeks 4 & 5 (22nd to 31st)
- The price of gold in the last two weeks of January saw fluctuations due to an unstable U.S. Dollar.
- Gold traded at Rs.2,963 per gram on 22nd January, and prices rose to Rs.2,979 per gram on 233rd January due to a fall in market performance as investors were wary following the inauguration of Donald Trump as U.S. President.
- Gold prices were unchanged for the subsequent days despite reduced demand from Asian markets, with prices falling on 27th January to trade at Rs,2947 per gram.
- Prices fell due to a decrease in demand but rose as the month ended, trading at Rs.2,967 per gram on 30th January.
- Prices fell on the last day of the month, trading at Rs.2,958 per gram on lowered demand, though the overall trend was an increase in price.
Trend of Gold Rate in Haryana for December 2016 (rates per gram for 24karat gold)
|December 1st Rate||Rs.2,893 per gram|
|December 31st Rate||Rs.2,844 per gram|
|Highest Rate in December||Rs.2,893 per gram on the 1sst|
|Lowest Rate in December||Rs.2,800 per gram from 23rd to 28th|
December 2016 - Week 1 (1st - 4th):
- In Haryana, gold prices didn’t see too much of a fluctuation in December.
- When the month started on the 1st, gold was selling at Rs.2,893 per gram and remained the same on the 2nd as well.
- On 3rd, prices decreased by Rs.6 bringing gold rates to Rs.2,887 per gram.
- Rates didn’t change on the 4th either as gold was still seen trading at Rs.2,887 per gram.
December 2016 - Week 2 (5th - 11th):
- When week 2 began on the 5th, gold was seen trading at Rs.2,887 per gram as no change in trend was witnessed.
- Prices remained at Rs.2,887 per gram till the 7th as buyers sentiments neither went up nor down.
- On 8th, prices increased just a little bit Rs.5 to hit Rs.2,892 per gram and continued at the same rate on the 9th as well.
- The 10th saw prices dip significantly by Rs.28 to bring gold prices to Rs.2,864 per gram.
December 2016 - Week 3 (12th - 18th):
- On 12th, gold traded at Rs.2,864 per gram and remained the same till the closing hours of the 14th.
- Prices decreased quite a lot by Rs.42 on 15th as gold traded at Rs.2,822 per gram.
- From 16th to 18th, there wasn’t any change in prices either, as gold was still trading at Rs.2,822 throughout this period.
December 2016 - Week 4 (19th - 25th):
- When business day began on the 19th gold was still trading at Rs.2,822 per gram and continued at the same frequency till the 22nd.
- The 23rd, however, saw gold prices go down to Rs.2,800 per gram, to hit the lowest rate for the entire month of December.
- Despite Christmas approaching, gold prices didn’t change as they remained at Rs.2,800 per gram on 24th and 25th.
December 2016 - Week 5 (26th - 31st):
- Prices remained at Rs.2,800 per gram from 26th to 28th, as demand didn’t see much of a change.
- As new year was approaching, prices surged significantly on the 29th by Rs.33 to bring rates up to Rs.2,833 per gram
- On 29th, prices again increased by Rs.11 to bring it up to Rs.2,844 per gram and remained the same on the last day of the year.
- Overall, gold price trends were down by -1.89% in Haryana for the month of December.
|November 1st Rate||Rs.3,099 per gram|
|November 30th Rate||Rs.2,941 per gram|
|Highest Rate in November||Rss.3,213 per gram on 5th & 6th November|
|Lowest Rate in November||Rs.2,929 per gram from 25th-27th November|
November '16 - Week 1 (1st to 6th)
- Gold prices in the first week were relatively high, as demand from the industrial as well as retail sectors continued to be strong.
- Gold traded at Rs.3,099 per gram on 1st November, with the price rising to Rs.3,192 per gram as the week progressed.
- The U.S. elections and resultant market turmoil led to higher demand for gold, pushing prices higher.
- Gold traded at Rs.2,213 per gram on 5th and 6th November, its monthly high as the U.S. went to the polls.
November '16 - Week 2 (7th to 13th)
- The price of gold continued to rise as demand was bolstered by uncertain markets both domestically as well as overseas.
- The shock election of Donald Trump as U.S. President led to stocks crashing, resulting in demand for gold surging.
- Gold traded at Rs.3,211 per gram on 7th November, with the price remaining stable for the next few days.
- The surprise announcement of the demonetisation of large Indian currency notes led to chaos for the Indian markets.
- Gold was stable for a few days before plunging to Rs.3.071 per gram on 11th November, with the price remaining constant till the week ended on 13th November.
November '16 - Week 3 (14th to 20th)
- The demonetisation policy led to a dip in demand for gold as there was a shortage of legal tender in the market.
- Gold traded at Rs.3,071 per gram on 14th November, with the price staying constant till 16th November.
- Industrial demand began to slow down as the government enacted strict measures to prevent large gold purchases as a way to circumvent demonetisation.
- Gold traded at Rs.2,994 per gram on 20th November due to domestic demand slowing down in spite of international gold demand being high.
November '16 - Weeks 4 and 5 (21st to 30th)
- With the markets recovering from the election of Donald Trump, gold demand slowed down internationally.
- Domestically, the effect of demonetisation led to a sharp decline in gold purchase during the festive season.
- Gold traded at Rs.2,994 per gram on 21st November before rising to Rs.3,020 per gram on 23rd November.
- Prices dropped again as international markets performed well on hopes of a Fed rate hike.
- Gold traded at Rs.2,941 per gram on 30th November.
|Highest Price||Rs.3,205 from 1st to 4th October|
|Lowest Price||Rs.3,088 from 6th October to 25th October|
October 2016 – Weeks 1 and 2 (1st to 9th)
- Though the interest rate hike by the U.S. Federal Reserve has been put on hold till December, expectations have sprouted again as a further delay in the hike could lead to other problems for the economy.
- Gold as priced at Rs.3,205 on the 1st of October and the remained stable until the 4th.
- A decline on the 5th saw prices plunge to Rs.3,119 per gram, after which another decline saw prices drop to Rs.3,088 on the 6th.
- Prices remained stable till the end of the week as there were no fluctuations.
October 2016 – Week 3 (10th to 16th)
- The price of gold per gram did not change from the closing levels of the previous week and prices stood at Rs.3,088 until the end of the week.
October 2016 – Week 4 (17th to 23rd)
- There was little talk of the interest rate hike by the U.S. Federal Reserve this week, and rates remained unchanged at Rs.3,088 until the 23rd of October.
October 2016 – Week 5 (24th to 31st)
- Although there was no change in rates on the first day of the week, prices rose to Rs.3,099 on the 26th of October and remained stable until the end of the month.
- The overall decline in prices between the first and last day of October was 3.31%.
|1st Day||Rs.3,184 per gram|
|Last Day||Rs.3,217 per gram|
|Highest Price||Rs.3,228 per gram from 7th to 12th September|
|Lowest Price||Rs.3,184 per gram on 1st and 2nd September|
September '16 - Week 1 (1st to 4th)
- Gold traded at its lowest price for the month on 1st and 2nd September at Rs.3,184 per gram.
- Anticipation of the Fed rate hike was put to the rest as economic data from the U.S. was weak.
- The safe-haven appeal of gold drew investors and buyers.
- Gold climbed to Rs.3,195 per gram at the end of the week.
September '16 - Week 2 (5th to 11th)
- Gold traded at Rs.3,195 per gram on 5th September and prices started to increase.
- Demand for the metal continued to grow strong this week.
- Gold touched its highest price for the month on 7th September, trading at Rs.3,228 per gram.
- Gold rates remained constant till the end of the week.
September '16 - Week 3 (12th to 18th)
- Demand for gold dropped this week as the U.S. Federal Reserve was hawkish about introducing the rate hike this month despite the weak economic data.
- Gold traded at Rs.3,228 per gram on 12th September.
- Prices dropped gradually as the appeal of gold as an investment became dull.
- Demand in the domestic market sunk low despite expectations of demand picking up in light of the festive season.
- Gold shed Rs.33 by the end of the week and traded at Rs.3,195 per gram on 18th September.
September '16 - Week 4 (19th to 25th)
- Gold traded at Rs.3,195 per gram on 19th September.
- With the presidential elections in the U.S. approaching soon, the Federal Reserve took a call to put the rate hike off till December.
- The yellow metal gained its lustre back and investors increased their appetite for gold.
- With bullish tendencies ruling the market, gold prices started to climb.
- By 22nd September, gold had made its way up to Rs.3,227 per gram and remained constant.
September '16 - Week 5 (26th to 30th)
- Gold traded at a constant rate of Rs.3,227 per gram from 26th to 28th September.
- Demand for gold soon dropped on account of a strong dollar.
- On the domestic front, demand was subdued.
- Gold traded at Rs.3,217 per gram on 30th September.
- The trend for this month was an increase of 1.04%.
|First Day||Rs.3,219 per gram|
|Last Day||Rs.3,205 per gram|
|Highest Price||Rs.3,248 per gram on 4th and 10th August|
|Lowest Price||Rs.3,205 per gram from 26th to 31st August|
August '16 - Weeks 1 (1st to 7th)
- Gold traded at Rs.3,219 per gram on 1st August to 3rd August.
- Prices rose for the next two days on account of increased demand from jewellers in the domestic market.
- The pressure of an interest rate by the U.S. Federal Reserve drove prices down.
- Gold prices dropped to Rs.3,206 per gram on 6th August.
- A weak dollar helped rates remain constant till the end of the week.
August '16 - Week 2 (8th to 14th)
- The constant trend of the previous week continued into the second week of August.
- Gold was seen trading at Rs.3,206 per gram on 8th and 9th August.
- Rates started climbing as the demand in the domestic market picked up on account of the upcoming festivals.
- Trends in the global market such as the expectations of a Fed rate hike next month brought gold prices down to Rs.3,226 per gram on 13th and 14th August.
August '16 - Week 3 (15th to 21st)
- Gold prices climbed marginally this week as domestic demand provided support against global trends.
- Gold traded at Rs.3,226 per gram on 15th August, increased to Rs.3,238 per gram on 18th August and settled there till the end of the week.
- The U.S. Federal Reserve officials were upbeat of a rate hike possibly in the month of September.
August '16 - Week 4 (22nd to 28th)
- The anticipation of a Fed rate hike started to take its toll on the demand for gold as investors opted to stay on the sidelines.
- Gold traded at Rs.3,238 per gram on 22nd to 24th August.
- Prices started sliding down on account of a gloomy climate in the global market.
- Gold had touched Rs.3,205 per gram by the end of the week.
August '16 - Week 5 (29th to 31st)
- Gold traded at a constant pace in the last week of August.
- Gold prices remained at Rs.3,205 per gram through the week unaffected by global trends.
- The declining trend indicated a drop of 0.43% in gold prices this month.
- Despite a bad performance this month, experts are hoping for prices to pick up in the coming months in light of the festivals.
|1st July Rate||Rs.3,167 per gram|
|31st July Rate||Rs.3,219 per gram|
|Highest Rate in July||Rs.3,227 per gram form 7th-9th July|
|Lowest Rate in July||Rs.3,163 per gram on 22nd July|
|Overall Performance||Increase in price|
|% Change||+1.61% increase|
July'16 - Week 1 (1st to 3rd)
- The gold price increased during the first week as the markets continued to recover from the Brexit-fuelled collapse.
- Taking their cue from international trends, the domestic demand pushed prices up.
- Gold traded at Rs.3,203 per gram as the week ended, an increase of Rs.36 from the start of the week.
July'16 - Week 2 (4th to 10th)
- Gold rates continued to rise, spurred on by higher demand from both domestic as well as overseas markets.
- Prices reached their monthly high of Rs.3,227 per gram in the middle of the week.
- Gold ended the week trading at Rs.3,227 per gram.
July'16 - Week 3 (11th to 17th)
- As the markets stabilised, the demand for gold fell.
- The Dollar also made a resurgence, gaining on other global currencies, leading to gold demand stagnating.
- Gold retailed at Rs.3,199 per gram, a decrease of Rs.27 from the start of the week.
July '16 - Week 4 (18th to 24th)
- Prices were constant for the first part of the week but prices fell as the demand for gold dropped further.
- Reduced demand from industry also contributed to the slump in price.
- Gold traded at Rs.3,178 per gram at the end of the week, registering a drop in price of Rs.21 from the start of the week.
July‘16 - Week 5 (25th to 31st)
- The price of gold rose as the markets fell due to poorer than expected data regarding the U.S. economy’s growth projection.
- The Dollar slumped to a new low, leading to demand for gold to rise.
- The price of gold reached Rs.3,219 per gram at the end pf the month, an increase in price of Rs.41 from the beginning of the week.
|1st June rate||Rs.2,960|
|30th June rate||Rs.3,167|
|Highest rate in June||Rs.3,182 per gram on 28th June|
|Lowest rate in June||Rs.2,950 per gram on 2nd June|
Jun'16 - Week 1 (1st to 4th)
- At the beginning of the month, rate of gold was Rs.2,960 per gram.
- Price of gold decreased by Rs.10 the next day to cost Rs.2,950 per gram and this rate was maintained until the last day of week.
Jun'16 - Week 2 (5th to 11th)
- Continuing from the week 1, the price of gold was Rs.2,950 on the first day of the month and increased slightly thereafter.
- The price of gold was steady at Rs.3,003 per gram on the 6th and 7th.
- Gold rate reduced slightly after that on the 8th to cost Rs.2,983 per gram.
- Prices increased thereafter and the price of gold was Rs.3,006 on the last day of the week.
Jun'16 - Week 3 (12th to 18th)
- Price of gold rose from Rs.3,006 per gram on the 12th to Rs.3,056 per gram on the 13th.
- In addition to the above rates, from the 14th to 16th of June, gold rate was steady at Rs.3,066 per gram.
- There was an increase in price seen thereafter with price of gold being Rs.3,109 per gram from 17th to the 20th.
Jun'16 - Week 4 (19th to 25th)
- On the 19th, the price of gold was Rs.3,109 which continued from the previous week.
- There were fluctuations noted in rates seen from 19th to 22nd of June with the highest during those four days being Rs.3,120 per gram on the 21st.
- From 23rd to the 27th, the rate of gold was steady at Rs.3,098 per gram.
Jun'16 - Week 5 (26th to 30th)
- Price of gold was at Rs.3,098 per gram and was the same on the 26th and 27th of June.
- There was an increase observed in the rate of gold on 28th with price of gold being Rs.3,182 per gram which was also the highest for the month.
- This amount was steady for an another day and reduced slightly to close at Rs.3,167 per gram on 30th June.
|1st May rate||Rs.3,119|
|31st May rate||Rs.2,960|
|Highest rate in May||Rs.3,120 from the 7th to the 9th of May|
|Lowest rate in May||Rs.2,960 from the 28th to the 31st of May|
|Overall performance||Loss / Negative|
May'16 - Week 1 (1st to 7th)
- Gold rates remained stable at Rs.3,119 for the first three days of the week.
- A decline by Rs.41 on the 4th day of the month saw prices drop to Rs.3,078.
- Prices increased by Rs.20 to Rs.3,098 on the 5th, and then declined by Rs.20 to fall back to Rs.3,078 on the 6th of the month.
- The last day of the week saw gold rates rise by Rs.42 and finish strong at Rs.3,120.
- Prices increased by Re.1 between the first and last day of the first week of May 2016.
May ‘16 - Week 2 (8th to 14th)
- Gold rates remained constant on the first and second day of the second week and prices were recorded at Rs.3,120 on the 8th and 9th of May.
- A fall in prices by Rs.40 on the third day of the week saw rates decline to Rs.3,080 and they remained stable for the remainder of the week.
- The overall decline in rates between the first and last day of the week was Rs.40.
May ‘16 - Week 3 (15th to 21st)
- Gold rates remained stable at Rs.3,080 on the 15th and 16th of May after which an increase of Rs.18 on the 17th of the month saw prices climb to Rs.3,098.
- A fall in prices by Rs.30 on the 18th pushed rates down to Rs.3,068, and a further decline by Rs.20 on the 19th pushed prices further down to Rs.3,048, and they remained unchanged for the remainder of the week.
- The overall decline in gold prices between the first and last day of the week was Rs.32.
May ‘16 - Week 4 (22nd to 31st)
- Gold prices remained stable at Rs.3,048 until the 24th of May, followed by a decline of Rs.30 which sent prices down to Rs.3,018 on the 25th.
- A loss of Rs.10 on the 26th pushed rates down to Rs.3,008 and they remained constant for another day.
- Prices fell by Rs.48 to Rs.2,960 on the 28th of May, which marked the lowest rate of the precious metal during the month, and they remained unchanged until the end of the month.
- The overall decline in prices between the first and last day of May was Rs.159.
|1st April rate||Rs 2,943|
|30th April rate||Rs 3,119|
|Highest rate in April||Rs 3,119 on 30th|
|Lowest rate in April||Rs 2,933 on 5th|
|% Change||+ 5.98%|
Apr ‘16 - Week 1 (1st to 3rd)
- Demand for gold was on the lower side, with investors waiting for statements regarding Fed rate changes.
- Gold traded at Rs 2,943 on 1st, following market trends.
- There were no changes in gold rate through the week.
Apr ‘16 - Week 2 (4th to 10th)
- An overall increase in gold rates was observed over the week.
- Gold rates were unchanged compared to the previous week on 4th, trading at Rs 2,943.
- A slight dip in rates was witnessed on 5th, post which prices picked up.
- The week ended with gold trading at Rs 2,988, a gain of over Rs 40.
Apr ‘16 - Week 3 (11th to 17th)
- Gold rates fluctuated on a daily basis, recording a marginal loss.
- Gold traded at Rs 2,988 on 11th, before crossing the Rs 3,000 mark on 12th, when it traded at Rs 3,013.
- Gold rates fell post this strong beginning, ending the week on Rs 2,981.
Apr ‘16 - Week 4 (18th to 24th)
- An overall increase in gold rates was observed over the week.
- Gold traded at Rs 3,002 on 18th, with strong global cues pushing up prices.
- Rates peaked at Rs 3,017 on 21st, before falling to Rs 3,007.
- The week ended on a positive note, as gold gained Rs 5.
Apr ‘16 - Week 5 (25th to 30th)
- This was the best week for gold in the month.
- Gold traded at Rs 3,007 on 25th, gradually gaining momentum.
- Gold price was Rs 3,088 on 29th and Rs 3,119 on 30th.
- Prices witnessed on 30th were the highest for the month.
|1st March rate||Rs 3,030|
|31st March rate||Rs 2,948|
|Highest rate in March||Rs 3,030 from 1st to 14th|
|Lowest rate in March||Rs 2,940 on 15th, 16th, 17th|
Mar'16 - Week 1 (1st to 6th)
- Jewellers across the state joined protests against an excise duty hike, affecting gold trade.
- Gold traded at Rs 3,030 on March 1st.
- There were no changes in the week on account of protests.
Mar'16 - Week 2 (7th to 13th)
- Protests continued into the second week, with trade suspended.
- There was no change in gold rates over the week, as prices stayed stable at Rs 3,030.
Mar'16 - Week 3 (14th to 20th)
- A few jewellers were open for business, ending two weeks of protest.
- Gold rates fell to Rs 2,940 on 15th.
- Prices went up to Rs 2,998 on 18th, staying at this mark till the 20th.
Mar'16 - Week 4 (21st to 27th)
- An overall depreciation in rates was witnessed in the week.
- The week started with gold rates at Rs 2,998.
- Rates dropped to Rs 2,948 on 25th, ending the week at this level.
Mar'16 - Week 5 (28th to 31st)
- There were no changes in gold rates in the final week.
- Price remained stable at Rs 2,948.
- The month ended with gold at Rs 2,948, down by Rs 82 from the 1st.
|1st February rate||Rs.2,712|
|29th February rate||Rs.3,037|
|Highest rate in February||Rs.3,049 on 26th|
|Lowest rate in February||Rs.2,712 on 1st|
Feb '16 - Week 1 (1st to 7th)
- Gold prices gained value during the first week of February.
- Prices were Rs.2,712 on 1st and Rs.2,868 on 7th.
- Gold was up every day in the week, rising cumulatively by Rs.156 to end the week on a high note.
Feb '16 - Week 2 (8th to 14th)
- Gold continued its appreciation going into the second week.
- Prices were Rs.2,863 on 8th and Rs.3,008 on 14th.
- Gold rose to Rs.3,008 on 12th, breaching the 3,000-mark for the first time this month.
- Prices slid to Rs.2,946 on 13th before rallying back to Rs.3,008 on 14th.
Feb '16 - Week 3 (15th to 21st)
- Gold prices were slightly lower in the 3rd week.
- Prices were Rs.3,008 on 15th and Rs.2,993 on 21st.
- Gold was trading at Rs.3,018 by 19th but settled at Rs.2,993 on 20th and 21st.
Feb '16 - Week 4 (22nd to 29th)
- Gold continued gaining value in the final days of February, ending a very profitable month for the metal on a positive note.
- Prices were Rs.2,993 on 22nd and Rs.3,037 on 29th.
- Gold started the week negatively, falling to Rs.2,977 on 23rd before rallying to Rs.3,049 by 26th.
- Prices slid to Rs.3,037 on 27th and remained stable there for the rest of the week.
Details of Gold Price in Haryana (22 Karat & 24 Karat) - Till May 2015
24-karat gold (1 gram rates): Gold prices have plummeted over 10% in the last one year. Unlike gold jewellery, 24 karat gold coins do not entail any wastage and making charges. One gram of 24-karat gold is currently pegged at Rs. 2,514, a 0.8% decrease from Rs.2,680 over the past couple of months. One gram of gold was pegged at Rs.2,837 in January this year and has been on the downward slide ever since with the precious yellow metal pegged at Rs. 2,774 in February, a decrease of 2.2%. Gold rates in Haryana slid further by 2.09%, in the month of March at Rs. 2,716. While there was a brief spurt in the price of gold around the middle of May at Rs. 2,721, the rates fell by 7.6% over a period of two months to the current price of Rs.2514.
22-karat gold: One gram of 22-karat gold is currently pegged at Rs. 2,309 this month, a decrease of 6.2% from Rs. 2,463.00 in June this year. Gold rates in Haryana have been on the downward slide since January this year. The price of one gram of gold was pegged at Rs. 2,607.00 in January. The following month saw prices fall by 4.7% to Rs. 2,483. The downward trend continued in the months of March and April. In May, there was a brief spurt in the price of price of gold at Rs.2,501. However, the following months saw rates plummet by 1.5% to Rs. 2,463.
Gold as an investment in Haryana
Over-the-counter: Gold is sold in the form of bullions, coins and jewellery in Haryana. Gold as a physical asset is, by and large, considered a safer investment compared to equities. Gold prices differ from city to city in Haryana due to several factors such as making charges (amount paid for the labour involved for making jewellery; if the price of gold is higher, it would reflect on the making charges), transportation costs, local taxes and procurement costs among others. Customers can check the spot gold price on MCX and NCDEX to keep a tab on variations in the rates of the yellow metal. Banks also sell gold coins in various weights - 2 to 100 gram bars with 99.99% purity (certificates of purity is provided by the banks). Gold Souk is one of the major jewellery mall developers in Haryana. Other major jewellery stores include Hazoorilal jewellers, Tanishq and Shri Ram Jewellers.
Market trade: Many investors prefer buying gold exchange traded funds (ETFs) to physical gold since the former offers higher liquidity and greater ease of storage. Gold ETFs track the price of the yellow metal. Gold ETFs have been on a downward slide, posting negative returns and outflows since May 2013 (overall net outflow stood at Rs. 4,000 crore). Gold ETFs assets fell 8.5% to Rs.5,957 crore in July this year. Fresh gold ETFs sales are slow owing to plummeting gold prices for the past two years in addition to a negative outlook on the back of a strong stock market. Investors also trade in gold futures by opening a trading account with an initial deposit of Rs. 50,000 to Rs 1 lakh. Speculation about US interest rate hike is one of the many factors which influence sentiments in gold futures.
Also Check Gold Prices in the Cities of Haryana
|Gold Rate In Gurgaon||Gold Rate In Faridabad||Gold Rate In Ambala|
|Gold Rate In Hisar||Gold Rate In Karnal||Gold Rate in Chandigarh|
Read More On Gold
Auspicious Days To Buy Gold In 2016
Gold is ingrained in Indian culture and while buying gold at any time during the year is always a good investment, there are certain auspicious days during the year when buying gold is believed to bring about prosperity and good luck.
Reasons Why Gold Rates Fell Since February
Gold rates are a hot topic of discussion among people the world over. However, gold rates dropped massively during the first eight months of 2015. Find out what caused this huge drop that gave investors sleepless nights for much of the year.
How Gold Price is valuated in India
Buying gold in India is almost like a tradition. Gold has become part of the very fabric of Indian culture and society. Find out what makes gold tick and what the factors are that determine its prices in India.
Gold Rates Fluctuation – Why Gold Is On A Roller Coaster Ride
Gold has always had the ability to bring out a range of emotions in a buyer. Find out why gold rates have been fluctuating the world over and giving buyers and investors happiness and sorrow in equal measure.