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Gold Price in Jaipur
Gold jewelry and gold ornaments are the primary forms of gold that are bought and sold in India. However, with a new wave of information, education and realization, gold is slowly starting to be thought of as a tradable commodity by the average Indian investor. In Jaipur, the largest city in Rajasthan, the demand and awareness of gold as a tradable commodity is on the rise. The “Pink City”, is an ancient city which is now home to over 3 million people. With the largest SEZ in the country and a growing population of highly educated young adults, the city and its population are perfectly poised to make full use of the benefits of investing in gold as a commodity.
Gold rate in Jaipur fluctuates because of various reasons over different intervals time.
Trend of Gold Rate in Jaipur for January 2016 (rates per gram for 24karat gold)
|January 1st Rate||Rs.2,893 per gram|
|January 31st Rate||Rs.3,017 per gram|
|Highest Rate in January||Rss.3,060 per gram on 23rd and 24th of January|
|Lowest Rate in January||Rs.2,841 per gram on 10th and 11th of January|
January ‘17 - Week 1 (1st to 7th)
- Gold traded at Rs.2,893 per gram on the first day of the new year due to a reduction in demand for gold throughout the country and overseas. This price was constant until the next day.
- There was a marginal reduction in the rate of gold as the week passed to Rs.2,888 per gram. This rate was steady until the 5th of January.
- However, during the last two days of the week, there was a marginal increase noted in the rate of gold.
- On the last day of the week, gold traded at its highest for the first week of january at Rs.2,973 per gram for 24 karat gold.
- Increase in demand could be attributed to the rise in gold rate.
January ‘17 - Week 2 (8th to 14th)
- Continuing from the previous week, the rate of gold was Rs.Rs.2,937 per gram from the 8th of January until the 9th of January.
- Price of gold slightly reduced the next day to trade at Rs.2,841 per gram on the 10th and 11th of January due to fluctuating demands.
- There was a marginal rise noted in the rate of gold over the next few days wherein the rate of gold was steady at Rs.2,990 per gram.
- Rumours of U.S Fed rate hike kept the market on its toes and led to a lot of market fluctuations.
January ’17- Week 3 (15th to 21st)
- Gold rates continued to soar, as market conditions and higher demand led to investors taking an interest in the metal.
- The price of gold was Rs.2,990 per gram on the 15th but rose up to Rs.3,023 per gram the next day.
- Rate of gold was was Rs.3,034 per gram on the 17th and stayed steady at this rate until 20th of January.
- Price of gold reduced by Rs.3,024 per gram the next day on the 21st of January which was also the end of week 3.
- Consistent demand from the industrial sector as well as higher trading in gold bonds kept prices steady for the rest of the week.
- The upcoming handover of the presidency in the United States and uncertainty over policy changes led markets to dip.
January ’17- Weeks 4 & 5 (22nd to 31st)
- The last two weeks of January saw fluctuations in the price of gold due to market and political factors.
- Gold was priced at Rs.3,024 per gram on 22nd January.
- The rate of gold shot up to Rs.3,060 per gram which was the highest rate at which gold traded during the month of January in Jaipur.
- Domestic demand was also high, as demand from the industrial sector rose.
- Gold dropped to Rs.3,029 per gram on 28th January as the executive order banning immigration from certain countries to the United States was announced which had an impact on the market.
- Gold closed at Rs.3,017 per gram on the last day of January noting a rise of 4.28% in the rate of gold.
Trend of Gold Rate in Jaipur for December 2016 (rates per gram for 24karat gold)
|December 1st Rate||Rs.2,963 per gram|
|December 31st Rate||Rs.2,893 per gram|
|Highest Rate in December||Rs.2,963 per gram on the 1st and 2nd|
|Lowest Rate in December||Rs.2,825 per gram on the 22nd and 23rd|
December Week 1 (1st - 4th):
- Pink city Jaipur’s gold trend was rather similar to other tier-1 cities along north-west India.
- The first week of December witnessed gold prices hit a high point which the rest of the weeks couldn’t match.
- Due to demonetisation and unavailability of liquid cash, gold sales weren’t hitting the expected numbers compared to other Christmas/New Year periods.
- On 1st and 2nd, gold traded at Rs.2,963 per gram, the highest gold rate for the entire month of December.
- The 3rd saw prices decrease by Rs.5 to hit Rs.2,958 per gram. The same rate continued until the end of the 4th as well.
December Week 2 (5th-11th):
- When the second week of December began, the yellow metal was still trading at the same price as that was seen on the 4th, at Rs.2,958 per gram.
- Gold prices remained the same on the 5th and also till the closing hours on the 6th.
- On 7th, however, gold prices dipped significantly by Rs.34 to hit Rs.2,928 per gram and increased by just Re.1 to trade at Rs.2,927 per gram on the 8th.
- The 9th saw prices decrease further down to trade at Rs.2,918 per gram - a Rs.9 per gram change.
- Prices remained the same as the 9th on 10th and till the closing hours of the week on the 11th.
December Week 3 (12th-18th):
- When trading began for the third week on the 12th, gold was still trading at Rs.2,918 per gram, same as on the 11th.
- On 13th, due to lack of demand in terms of purchases, prices decreased further as gold traded at Rs.2,903 per gram.
- The same price trend from the 13th continued on till the closing house of the 16th.
- 17th of the month saw prices fall significantly by Rs.57 per gram to hit Rs.2,846 per gram.
- At the time of closing on the 18th, gold prices held on at Rs.2,846 per gram.
December Week 4 (19th- 25th):
- On 19th when trading began, gold prices were holding steady at Rs.2,846 per gram.
- The 20th and 21st too saw gold trading at the same rate as was seen on the 19th, i.e, Rs.2,846 per gram.
- The 22nd and 23rd saw gold prices reach their lowest for the month as the metal traded at Rs.2,825 per gram.
- Rates, however, picked up slightly courtesy of Christmas and New Year.
- On Christmas eve day, gold prices increased by Rs.25 and traded at Rs.2,850 per gram. This rate continued on till the 25th - the day of Christmas.
December Week 5 (26th - 31st):
- Christmas seemed to increase the prices by a small margin, however as the festival ended, gold prices plummeted to trade at Rs.2,835 per gram - a decrease of Rs.15 per gram.
- As one festival ended another was catching on. With new year approaching, the 27th saw a sudden increase in price as gold began to trade at Rs.2,851 per gram - a Rs.16 increase.
- On the 28th and 29th, gold prices climbed up furthermore to trade at Rs.2,876 per gram, a Rs.25 per gram increase.
- Gold prices surged on the second last day of 2016 as prices increased again for gold to trade at Rs.2,903 per gram.
- As the year drew to a close on the 31st, gold prices dipped and traded at Rs.2,893 per gram.
- Although gold price trend didn’t witness as bad a situation as the previous month, prices still went down by a smaller margin.
- Overall, gold price trend for December saw a decline of -2.38% in pink city Jaipur, despite two major festivals - Christmas and New Year’s - were on toe.
|1st Day||Rs.3,199 per gram|
|Last Day||Rs.3,012 per gram|
|Highest Price||Rs.3,252 per gram on 3rd November|
|Lowest Price||Rs.2,981 per gram on 25th November|
November ‘16 – Week 1 (1st-6th)
- Gold traded at Rs.3,199 per gram on 1st November, with the price staying constant until the next day
- An increase in demand led to a hike in prices the next day, with gold rate reaching Rs.3,252 per gram on the 3rd.
- This increase in rate was maintained until the end of the week.
- Rs.3,252 per gram was also the highest rate of gold during the month of November.
November ’16- Week 2 (7th-13th)
- There was a minor decline noted in the price of gold in the second week of November.
- Prices dropped down to Rs.2,234 per gram and declined further thereafter.
- This could be attributed to a decline in gold prices due to increase in market strength.
- Rate of gold declined even further with the precious metal closing at Rs.3,175 per gram on the last day of the week. The second week saw prices improve marginally, with gold trading at Rs.3,030 per gram on 10th November.
November ’16- Week 3 (14th-20th)
- Gold was priced at Rs.3,175 per gram on 8th of November and this rate was maintained until the 18th.
- Prices remained stable to due a sustained albeit slightly low demand.
- There was a further decline noted in the rate of gold on the 19th.
- Decline in gold rates could be attributed to the recent demonetization ruling.
November ’16- Week 4 (21st-27th)
- Low rates of gold was maintained until the 22nd of November.
- There were very minor fluctuations noted during the week.
- Gold traded at Rs.2,981 per gram which was the lowest rate at which the precious metal was priced at, for the month of November.
- This rate was sustained the next day as well, after which a slight increase was noted in the price of gold.
November ‘16 – Week 5 (28th-30th)
- Gold traded at Rs.3,021 per gram on 28th of November, after which prices declined again.
- On the 29th, gold traded at Rs. 3,012 per gram.
- Gold rate closed at Rs.3,012 per gram on the last day of the month.
- There was a decline of 5.84% in the rate of gold as compared to the beginning of the month.
|Highest Price||Rs.3,304 on 1st October|
|Lowest Price||Rs.3,157 from 7th October to 13th 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.3,304 on the 1st of October.
- Prices fell to Rs.2,373 on the 2nd and remained stable until the 4th, after which they declined on the following two days as well.
- Prices declined again on the 7th and were recorded at Rs.3,157 until the end of the week.
October 2016 – Week 3 (10th to 16th)
- Gold rates grew stronger this week as prospects of the U.S. Fed rate hike moved at a slow pace.
- The price of gold per gram did not change from the closing levels of the previous week and prices stood at Rs.3,157 until the 13th of the month.
- Rates then increased by Rs.5 on the 14th and remained unchanged at Rs.3,162 until the close of the week.
- In comparison with the previous week, gold prices increased by Rs.5 between the 10th and 16th of October.
October 2016 – Week 4 (17th to 23rd)
- There was little talk of the interest rate hike by the U.S. Federal Reserve this week.
- Rates remained constant at Rs.3,162 throughout the week.
October 2016 – Week 5 (24th to 31st)
- Gold prices increased during the last week of the month as festive demand picked up in the domestic market.
- Although there was no change in rates on the first day of the week, prices rose to Rs.3,189 on the 26th of October and remained stable until the 29th.
- On the 30th of October, prices hit Rs.3,199 and remained stable for another day to close the month at the same rate.
- The overall decline in prices between the first and last day of October was 3.18%.
|1st Day||Rs.3,245 per gram|
|Last Day||Rs.3,304 per gram|
|Highest Price||Rs.3,304 per gram from 27th to 30th September.|
|Lowest Price||Rs.3,245 per gram on 01st and 02nd of September.|
September '16 - Week 1 – (01st to 04th)
- On 01st September, 24K gold traded at Rs.3,245 per gram.
- On 01st and 02nd of September the lowest gold rate was recorded when gold traded at Rs.3,245 per gram.
- A slight increase in gold rates was noted on 03rd September when the yellow metal traded at Rs.3,255 per gram.
- The increase in gold prices was mainly due to the interest displayed by the local traders and jewellers.
- Gold closed at Rs.3,255 per gram.
September '16 - week 2- (05th to 11th)
- Though the yellow metal didn’t do well in the international market, demand from the domestic market kept the gold rates stable in India.
- Fed rate hike speculation led to decrease in gold rates overseas.
- In Jaipur, gold opened at Rs.3,255 per gram and remained the same on 06th of September.
- On 07th to 11th September, gold rate slightly increased on account of festive season in India and traded at Rs.3,291 per gram.
September '16 - week 3 (12th to 18th)
- Gold remained stable and continued to trade at Rs.3,291 per gram from 12th to 17th September.
- Overall, gold displayed a constant trend this week as demand from domestic market poured in despite adverse international market conditions.
- Investors expect gold prices to increase as jewellers are gearing up for the upcoming festivals.
- Gold prices fell on 18th of September due lacklustre demand and subdued buying interest.
- Gold closed at Rs.3,274 per gram.
September '16 - week 4 (19th to 25th)
- Gold traded at Rs.3,274 per gram on 19th September.
- On 20th September, gold rates slightly increased and traded at Rs.3,277 per gram.
- Gold rates continued to increase on 23rd September as jewellers increased their gold intake to meet the festive demands.
- Gold prices rose and traded at Rs.3,297 per gram from 23rd to 25th of September.
September '16 - week 5 (26th to 30th)
- Gold prices increased this week as investors shrugged Fed rate hike speculation.
- Fed rate hike was also put aside on account of the upcoming presidential elections in the U.S.
- Gold opened at Rs.3,297 per gram.
- Gold prices increased and hit Rs.3,304 per gram on 27th September which is also the highest gold rate recorded for this month.
- The incline in gold rates is mainly due to the constant demand from the domestic market and favourable international factors.
Also Check Gold Price in NearBy Cities of Jaipur
|Gold Rate In Jodhpur||Gold Rate In Kota||Gold Rate In Udaipur|
- Also Check:Gold Rate in Rajasthan
|Also Know: Silver Rate in Jaipur|
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