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Gold Price In Jammu and Kashmir
Nestled in the foothills of the Himalayas, Jammu and Kashmir has the power to mesmerize us with its beauty. There are few objects which can match the beauty of this place, gold perhaps being the only element which evokes as much awe as Jammu and Kashmir. Gold has a long relationship with J&K, forming an integral part of its history and culture. Gold rates in Jammu and Kashmir depend on the economic conditions prevalent in the country, which in turn are closely related to international trends.
The demand for gold in Jammu and Kashmir peaks during the festival and wedding season, with jewellers across the state offering a plethora of options to residents. Gold has also been viewed as an excellent investment avenue in the state, serving a dual purpose for gold owners.
Gold Rate Trend in Jammu and Kashmir for April 2021 to June 2021 (per gram of 24 karat gold)
|1st Day||Rs.4,527 per gram||Rs.4,761 per gram||Rs.5,013 per gram|
|Last Day||Rs.4,761 per gram||Rs.4,992 per gram||Rs.4,771 per gram|
|Highest Price||Rs.4,892 per gram on 22 April||Rs.5,013 per gram on 26 May||Rs.5,034 per gram on 3 June|
|Lowest Price||Rs.4,527 per gram on 1 April||Rs.4,761 per gram on May 1 and 2||Rs.4,771 per gram on 30 June|
Quarterly Gold Rate in Jammu and Kashmir from April 2021 to June 2021:
- On 1 April, the price of gold in Jammu and Kashmir was at Rs.5,079 per gram. However, by the end of the month, gold rates fell by 1.79% and were at Rs.4,988 per gram. The highest and lowest rates that the yellow metal hit for the month were Rs.5,213 per gram and Rs.4,988 per gram, respectively.
- In May, gold prices opened and closed the month at Rs.4,995 per gram and Rs.4,647 for a gram, respectively. Overall, gold prices fell by 6.96% over the course of the month in the state. The lowest and highest rates that the yellow metal touched for the month were Rs.4,647 for a gram and Rs.4,995 per gram, respectively.
- In June, gold rates fell by 4.30% in Jammu and Kashmir. On 1 June, the price of gold was at Rs.4,673 per gram. However, by the end of the month, gold rates fell to Rs.4,472 for a gram. The highest and lowest rates that the yellow metal touched for the month were Rs.4,673 per gram and Rs.4,472 per gram, respectively.
Gold Rate Trend in Jammu and Kashmir for January 2021 to March 2021 (per gram of 24 karat gold)
|1st Day||Rs.5,079 per gram||Rs.4,995 per gram||Rs.4,673 per gram|
|Last Day||Rs.4,988 per gram||Rs.4,647 per gram||Rs.4,472 per gram|
|Highest Price||Rs.5,213 per gram on 6 January||Rs.4,995 per gram on 1 February||Rs.4,673 per gram on 1 March|
|Lowest Price||Rs.4,935 per gram on 29 January||Rs.4,647 per gram on 27 and 28 February||Rs.4,472 per gram on 31 March|
Quarterly Gold Rate in Jammu and Kashmir from January 2021 to March 2021:
- On 1 January, the price of gold in Jammu and Kashmir was at Rs.5,079 per gram. However, by the end of the month, gold rates fell by 1.79% and were at Rs.4,988 per gram. The highest and lowest rates that the yellow metal hit for the month were Rs.5,213 per gram and Rs.4,988 per gram, respectively.
- In February, gold prices opened and closed the month at Rs.4,995 per gram and Rs.4,647 for a gram, respectively. Overall, gold prices fell by 6.96% over the course of the month in the state. The lowest and highest rates that the yellow metal touched for the month were Rs.4,647 for a gram and Rs.4,995 per gram, respectively.
- In March, gold rates fell by 4.30% in Jammu and Kashmir. On 1 March, the price of gold was at Rs.4,673 per gram. However, by the end of the month, gold rates fell to Rs.4,472 for a gram. The highest and lowest rates that the yellow metal touched for the month were Rs.4,673 per gram and Rs.4,472 per gram, respectively.
Gold Rate Trend in Jammu and Kashmir for October 2020 to December 2020 (per gram of 24 karat gold)
|1st Day||Rs.5,166 per gram||Rs.5,171 per gram||Rs.4,846 per gram|
|Last Day||Rs.5,171 per gram||Rs.4,890 per gram||Rs.5,074 per gram|
|Highest Price||Rs.5,229 per gram on 13 October||Rs.5,215 per gram on 7, 8, and 9 November||Rs.5,130 per gram on 21 December|
|Lowest Price||Rs.4,914 per gram from 18, 19, and 20 October||Rs.4,890 per gram on 28, 29, and 30 November||Rs.4,846 per gram on 1 December|
Quarterly Gold Rate in Jammu and Kashmir from October 2020 to December 2020:
- On 1 October 2020, the price of gold in Jammu and Kashmir was at Rs.5,166 per gram. However, by the end of the month, the prices of the yellow metal increased by 0.09% and were at Rs.5,171 for a gram. The highest and lowest rates that gold touched for the month were Rs.5,229 and Rs.4,914 per gram, respectively.
- The prices of gold for the month of November opened at Rs.5,171 per gram and closed at Rs.4,890 per gram, respectively. Over the course of the month, the prices of the yellow metal fell by 5.43%. The lowest and highest rates that gold touched for the month were Rs.4,890 and Rs.5,215 per gram, respectively.
- Gold prices for the month of December in Jammu and Kashmir increased by 4.70%. After opening the month at Rs.4,846 per gram, the prices of the yellow metal increased to Rs.5,074 per gram by the end of the month. The lowest and highest rate that the yellow metal hit for the month were on 1 December and 21 December, respectively.
Gold Rate Trend in Jammu and Kashmir for July 2020 to September 2020 (per gram of 24 karat gold)
|1st Day||Rs.4,946 per gram||Rs.5,481 per gram||Rs.5,287 per gram|
|Last Day||Rs.5,439 per gram||Rs.5,250 per gram||Rs.5,135 per gram|
|Highest Price||Rs.5,439 per gram on 31 July||Rs.5,749 per gram on 8 August||Rs.5,292 per gram on 2 September|
|Lowest Price||Rs.4,946 per gram from 1 July||Rs.5,234 per gram on 27 and 28 August||Rs.5,077 per gram on 29 September|
Quarterly Gold Rate in Jammu and Kashmir from July 2020 to September 2020:
- The Gold rate in July in Jammu and Kashmir opened at Rs.4,946 per gram and closed at Rs.5,439 per gram. The prices of gold had increased by 9.96% for this month. The outbreak of Covid-19 all over the world and the stimulus measures introduced by governments and central banks were the reasons behind the prices of gold rates rising significantly.
- On 1 August 2020, the price of gold was recorded to be at Rs.5,481 for a gram. By the end of the month, price of gold had reached Rs.5,250 per gram. Prices of gold in Jammu and Kashmir had dipped as many countries decided to reopen their economies. Gold rates declined by 4.21% in August.
- In September, the rates of the precious metal had dropped by 2.87%. Gold prices dropped due to the increase in appetite for riskier products. The gold prices in Jammu and Kashmir for the month of September opened at Rs.5,287 and closed at Rs.5,135.
Gold Rate Trend in Jammu and Kashmir for January 2018 to March 2018 (per gram of 24 karat gold)
|1st day||Rs.3,010 per gram||Rs.3,077 per gram||Rs.3,113 per gram|
|Last day||Rs.3,066 per gram||Rs.3,129 per gram||Rs.3,134 per gram|
|Highest price||Rs.3,120 per gram on 24 and 25 January||Rs.3,161 per gram on 18 and 19 February||Rs.3,171 per gram on 25 and 26 March|
|Lowest price||Rs.3,010 per gram from 1 to 3 January||Rs.3,035 per gram on 9 February||Rs.3,098 per gram on 19 and 20 March|
Gold Rate Trend in Jammu and Kashmir for January 2018:
- Gold rates in Jammu and Kashmir were greatly influenced by the fluctuating market trends during the month of January.
- The month began with the bullion prices holding at Rs.3,010 per gram on the 1st. This was also the lowest recorded monthly prices in the state and gold continued trading at the same rate with poor demand until the 3rd.
- Prices fluctuated considerably during the month with the yellow metal hitting seven-week highs in the international bullion market amid the weakened US dollar.
- Gold rates in Jammu and Kashmir surged to Rs.3,120 per gram - the highest recorded monthly figure - on the 24th as the greenback lost its ground with world markets capitalising on the possibilities of a US government shutdown.
- However, with the dollar index recovering from its previous decline, gold prices began to collapse as the month progressed.
- The bullion trade concluded for the month with the precious metal priced at Rs.3,066 per gram on the 31st and Jammu and Kashmir recorded an incline of 1.86% in gold prices over the course of the month.
Gold Rate Trend in Jammu and Kashmir for February 2018:
- The poorly performing equity markets coupled with the weakened US greenback helped gold to continue its upward trend during the month of February.
- Trading opened in the state with gold priced at Rs.3,077 per gram on the 1st with strong domestic demand amid positive global cues.
- The next couple of weeks recorded gold rates varying with an unstable US dollar index taking its toll on the commodity markets.
- An increase in demand by traders and investors following the US inflation data led to gold prices in Jammu and Kashmir surging to Rs.3,161 per gram on the 18th. The rise in prices was also due to the strong local demand amid the ongoing wedding season in the state.
- Steady demand coupled with firm market trends led to gold rates remaining unaltered at Rs.3,161 per gram on the 19th.
- Demand, however, began to decline as the domestic wedding season came to an end and gold was priced at Rs.3,119 per gram on the 23rd.
- The month end with the bullion priced slightly higher at Rs.3,129 per gram during the closing hours on the 28th.
- Thanks to the strong global cues that pushed demand higher in the domestic markets, gold rates in Jammu and Kashmir rose by 1.68% over the course of the month.
Gold Rate Trend in Jammu and Kashmir for March 2018:
- The final month of the quarter commenced with the bullion trading at Rs.3,113 per gram on the 1st.
- Though gold rates in Jammu and Kashmir dropped initially, the weakened dollar coupled with strong orders from local industries and jewellers led to prices rebounding to Rs.3,134 per gram on the 4th.
- Prices fluctuated over the next two weeks amid market uncertainties and unstable US dollar performances.
- The dismissal of the US Secretary of State Rex Tillerson by the White House led to a decline in the US dollar index. The issue, however, diminished with the US dollar recovering amid strong stock returns and gold was priced at Rs.3,129 per gram on the 15th.
- Safe-haven demand for the metal surged with investors speculating on a possible trade war between the US and China after Trump announced further import tariffs on China. This led to gold being priced at Rs.3,171 per gram - the highest recorded monthly figure - on the 25th and the 26th.
- Trading closed for the month with gold rates holding at Rs.3,134 per gram on the 31st. Gold rate trends in Jammu and Kashmir registered an incline of 0.67% due to strong investor demand amid the weakened dollar.
Also Check Gold Price in Metro Cities
|Today's Gold Rate In Bangalore||Today's Gold Rate In Chennai||Today's Gold Rate In Hyderabad|
|Today's Gold Rate In Kolkata||Today's Gold Rate In Mumbai||Today's Gold Rate In India|
Gold Rate Trend in Jammu and Kashmir for October 2017 to December 2017 (per gram of 24 karat gold)
|1st day||Rs.3,063 per gram||Rs.3,006 per gram||Rs.3,016 per gram|
|Last day||Rs.3,026 per gram||Rs.3,026 per gram||Rs.3,020 per gram|
|Highest price||Rs.3,072 per gram from 12 to 16 October||Rs.3,060 per gram from 18 to 20 November||Rs.3,036 per gram from 2 to 4 December|
|Lowest price||Rs.3,026 per gram on 27, 30 and 31 October||Rs.3,006 per gram on 1 November||Rs.2,910 per gram on 11 to 13 December|
Gold Rate Trend in Jammu and Kashmir for October 2017:
- Gold was priced at Rs.3,063 per gram in Jammu and Kashmir when trading began for the month of October.
- Prices began to drop as the markets recovered, leading to a decline in demand for gold due to the increased cost of importing the metal.
- The lack of stable local demand in spite of the festive season led to a further decline in the price, with gold trading at Rs.3,028 per gram on 6 October.
- The onset of Diwali and the Indian wedding season also failed to have much of an impact on the price of gold.
- Prices in fact fell to their lowest of the month, trading at Rs.3,026 per gram from 27-31 October.
- The sharp decline in the price of gold can be attributed to weak demand as well as market forces, as gold registered a drop in value of 1.20% over the course of the month.
Gold Rate Trend in Jammu and Kashmir for November 2017:
- The month began with gold prices at Rs.3,006 per gram as equity markets surged on positive cues and local demand stagnated due to a high U.S. Dollar rate.
- A minor drop in the dollar rate due to geopolitical tensions led to a spurt in demand from gold from the local market, with jewellers increasing orders ahead of the wedding season.
- Prices rose to Rs.3,060 per gram by 18 November as markets stumbled in the face of the new tax policy.
- Local retail demand also picked up in the face of favourable conditions as markets continued to trade low due to the implications of the new tax policy.
- The recovery of the dollar led to a drop in demand for gold once again, as Asian markets reduced orders over fears of an economic slowdown.
- The slump in prices persisted till the end of the month, when gold prices rose marginally.
- Gold was priced at Rs.3,026 per gram on 30 November after a further slump in demand due to high dollar rates.
- Due to the decline in price towards the end of the month, gold prices registered an increase of 0.66% over the course of the month.
Gold Rate Trend in Jammu and Kashmir for December 2017:
- The month of December began with gold priced at Rs.3,016 per gram, with prices falling marginally due to the continued strong performance by the dollar index.
- There was a quick recovery as gold rose to trade at Rs.3,036 per gram on 2 December as the dollar plunged due to the political turmoil over the investigation into the U.S. President.
- Prices fluctuated as industrial demand was muted but sporadic local demand kept prices from falling too drastically.
- Market uncertainty also helped boost prices towards the middle of the month, but this was short-lived as the dollar index recovered and resulted in fewer gold orders.
- The month ended with gold priced at Rs.3,020 per gram on 31 December, resulting in gold recording a 0.13% incline over the course of the month.
Gold Rate Trend in Jammu and Kashmir for July 2017 to September 2017 (per gram of 24 karat gold)
|1st day||Rs.2,992 per gram||Rs.2,960 per gram||Rs.3,024 per gram|
|Last day||Rs.2,950 per gram||Rs.2,999 per gram||Rs.3,063 per gram|
|Highest price||Rs.2,992 per gram on 1 & 2 July||Rs.3,017 per gram on 28 August||Rs.3,130 per gram on 8 September|
|Lowest price||Rs.2,843 per gram on 12 & 13 July||Rs.2,930 per gram on 3 & 6 August||Rs.3,024 per gram on 1 September|
Gold Rate Trend in Jammu and Kashmir for July 2017:
- In Jammu and Kashmir, gold started at Rs.2,992 per gram for the month of July.
- Like every other state in the country, Jammu and Kashmir also saw its gold trading trend hit by GST and the rise of the US dollar.
- Rates recorded on the 1st, were the highest for the month, which gave a clear indication of how bad the month was for gold trades.
- By the 12th, gold prices reached Rs.2,843 per gram - the month’s lowest rate - as demand saw little to no signs of picking up.
- Gold prices in Jammu and Kashmir, however, picked up slightly as investors decided to step away from their reservations and chose to invest in the metal.
- When trading ended for the month, gold prices in Jammu and Kashmir were recorded at Rs.2,950 per gram.
Gold Rate Trend in Jammu and Kashmir for August 2017:
- The month of August was a positive period for gold sales in India’s northernmost state.
- On the 1st of August, gold was priced at Rs.2,960 per gram, but rates dropped down to Rs.2,930 per gram on the 3rd due to low demand.
- Prices picked up during the second week as the US-North Korea issue wreaked havoc on the US dollar’s exchange value.
- This led to gold prices in Jammu and Kashmir reaching a monthly high rate of Rs.3,017 per gram on the 28th of August.
- Demand fell slightly, leading the metal to trade at Rs.2,999 per gram on the 30th of the month.
- Prices improved by 1.30% this month, thanks to improved demand and a weak US dollar.
Gold Rate Trend in Jammu and Kashmir for September 2017:
- September’s gold trading was affected by the intensifying conflict between USA and North Korea.
- On the 1st of September, gold was priced at Rs.3,024 per gram. Rates fluctuates for the next few days before confirmation of North Korean powerful nuclear test sent gold rates soaring to Rs.3,130 per gram on the 8th of the month.
- The US dollar recovered slightly to keep gold rates in Jammu and Kashmir on the row for the final few days of the month.
- When the month ended, gold was seen trading at Rs.3,063 per gram.
- Prices inclined by 1.27% this month, thanks to a host of local and international situations.
Gold Rate Trend in Jammu and Kashmir for April 2017 to June 2017 (per gram of 24 karat gold)
|1st day||Rs.2,991 per gram||Rs.3,011 per gram||Rs.3,012 per gram|
|Last day||Rs.3,011 per gram||Rs.2,992 per gram||Rs.2,992 per gram|
|Highest price||Rs.3,068 per gram on 15 April and 16 April||Rs.3,011 per gram on 1 May and 2 May||Rs.3,057 per gram on 7 June|
|Lowest price||Rs.2,983 per gram from 8 April to 10 April||Rs.2,918 per gram from 12 May to 15 May||Rs.2,982 per gram from 17 June to 22 June|
Trend of Gold Rate in Jammu and Kashmir for April 2017
- Gold was priced at Rs.2,991 per gram when trading began for April in the Jammu and Kashmir territory.
- As demand increased slightly, the metal was trading at Rs.3,003 per gram from the 4th to the 7th of the month.
- Due to weak local demand, gold prices reached Rs.2,983 per gram - the lowest rate for the month - and continued trading at the same rate till the 10th.
- On the 11th, gold rates increased to Rs.2,998 per gram, courtesy of a positive cue from the international market
- Prices went up again on the 12th to Rs.3,036 per gram as dollar value took a hit.
- With domestic demand remaining stable and the US dollar price dwindling, gold traded at Rs.3,068 per gram - the highest for the month.
- A rallying dollar made sure that gold trading in J and K ended at Rs.3,011 per gram for April.
- Price trends saw an increase of 0.66% for the month.
Trend of Gold Rate in Jammu and Kashmir for May 2017
- When May began, gold was priced at Rs.3,011 per gram. The month saw quite a lot of fluctuations due to the impending French Presidential elections.
- As markets from various continents rallied, gold prices fell to as low as Rs.2,942 per gram on the 8th and 9th of May.
- Rates went down further as Emmanuel Macron won the French elections, leading to markets strengthening further and a fall in demand.
- Gold rates in Jammu and Kashmir reached their lowest of Rs.2,918 per gram on the 11th of May and continued at this rate till the 15th of the month.
- The second half of May saw gold demand increase as controversies involving US president Donald Trump rocked the US economy.
- Gold rates went up to Rs.2,977 per gram on the 20th and reached Rs.2,992 per gram by the 26th of May.
- There was a stable demand for the remaining days of the week, which led to gold prices remaining unchanged.
- The late rallies in prices weren’t enough to save the trend from going down. Gold rates fell by 0.63% this month due to weak demand.
Trend of Gold Rate in Jammu and Kashmir for June 2017
- Gold prices endured a turbulent period during the final quarter of Q2 2017.
- On the 1st of June, gold was trading at Rs.3,012 per gram. Rates, however, went up to Rs.3,057 per gram by the 7th as dollar weakened ahead of controversial issues regarding Donald Trump’s presidency.
- The 9th saw gold rate drop to Rs.3,007 per gram as a positive US jobs data led to a significant rallying of the stock markets.
- Gold rates dropped again the next week to reach Rs.2,982 per gram as speculation over a possible US Fed Rate hike brought the demand down.
- When the month came to an end, gold was prices at Rs.2,992 per gram.
- Weak cues towards the end of the month saw gold price trends in Jammu and Kashmir fall by 0.66% for the month of June.
Gold Rate Trend in Jammu and Kashmir for January 2017 to March 2017 (per gram of 24 karat gold)
|1st day||Rs.2,844 per gram||Rs.2,978 per gram||Rs.3,009 per gram|
|Last day||Rs.2,958 per gram||Rs.3,020 per gram||Rs.2,991 per gram|
|Highest price||Rs.2,979 per gram on 24th and 25th of January||Rs.3,031 per gram from 25th February to||Rs.3,009 per gram on the 1st and 2nd of March|
|Lowest price||Rs.2,844 per gram from 1st January to 3rd February||Rs.2,957 per gram from 4th February to 6th February||Rs.2,950 per gram on 15th March|
Gold Rate Trend in Jammu and Kashmir for January 2017:
- In Jammu and Kashmir, India’s war zone, gold rates seemed to go up during the month of January.
- The month began trading with gold priced at Rs.2,844 per gram.
- Rate went up to Rs.2,855 per gram on 5th and then to Rs.2,866 per gram by the 9th, as there was a sustained demand in the global market.
- Gold prices went up to Rs.2,888 per gram on 10th as there were plenty of doubts surrounding US President Donald Trump’s handling of key monetary issues.
- Rates went up to Rs.2,973 per gram on 18th as there was no clear answer to be found on Donald Trump’s policy decisions.
- By the end of the month, gold rates had gone down slightly to end at Rs.2,958 per gram.
- Overall, gold price trends changed at a rate of 4% for the month of January.
Gold Rate Trend in Jammu and Kashmir for February 2017:
- On 1st February, gold in Jammu and Kashmir was priced at Rs.2,978 per gram.
- Rates fell to Rs.2,957 per gram by the 6th as demand went down as news of US Federal Reserve rate hike gripped the markets.
- However, Donald Trump’s policies seemed to bring demand back up as gold rates hit Rs.2,999 per gram on 7th.
- After some drops and eventual gains, gold prices ended at Rs.3,004 per gram on 17th February.
- For the next week and so, gold prices fell to Rs.2,999 per gram before increasing to Rs.3,031 per gram on 25th.
- February ended with gold trading at Rs.3,020 per gram.
- Gold rate trend was on an incline for the second month in a row as it went up by 1.41%.
Gold Rate Trend in Jammu and Kashmir for March 2017:
- On the 1st of March, gold was trading at Rs.3,009 per gram but dropped to Rs.2,990 per gram on 2nd.
- Gold prices seemed to go down as the US Federal Reserve decided to hike the interest rate for a record 2nd month in a row after only doing so twice in nearly 8 years.
- Gold rates went as low as Rs.2,977 per gram on 7th and by the 15th, they were down to Rs.2,950 per gram - the lowest rate for the entire month.
- Prices gained towards the end of the month as demand kept fluctuating along with some technical corrections affecting the market prices.
- When the month ended, gold prices had stabilised to reach Rs.2,991 per gram.
- March saw price trends in Jammu and Kashmir drop by -0.59%.
|1st day||Rs.3,205 per gram||Rs.3,099 per gram||Rs.2,893 per gram|
|Last day||Rs.3,099 per gram||Rs.2,941 per gram||Rs.2,844 per gram|
|Highest price||Rs.3,205 per gram from 1st-4th October||Rs.3,213 per gram on 5th & 6th November||Rs.2,893 per gram on 1st & 2nd December|
|Lowest price||Rs.3,088 per gram from 6th-25th October||Rs.2,929 per gram from 25th-27th November||Rs.2,800 per gram from 23rd-28th December|
Gold Rate Trend for Jammu & Kashmir in October 2016
- The price of gold in Jammu and Kashmir was steady but lower than expected towards the start of the month, with gold trading at Rs.3,205 per gram due to lowered demand from the jewellery sector as well as the industrial sector.
- The possibility of higher scrutiny of bullion purchases led to a dip in price, but stable demand from the industrial sector kept prices more or less stable.
- Overseas demand fell as the month progressed, which resulted in demand dropping and prices falling to Rs.3,088 per gram for two weeks beginning 6th October.
- A slight rise in prices was observed as the month drew to a close, with gold trading at Rs.3,099 per gram on 31st October, losing over 3.30% in value.
Gold Rate Trend for Jammu & Kashmir in November 2016
- Gold prices in Jammu and Kashmir rose during the first week due to a combination of factors, but dropped as the month progressed.
- Gold was priced at Rs.3,099 per gram on 1st November, rising to Rs.3,211 per gram on 9th November as demand rose following plunging markets due to the U.S. presidential election results and the surprise announcement of the demonetisation of Rs.1,000 and Rs.500 notes.
- A currency shortage due to the withdrawal of over 85% of the legal tender as a result of demonetisation led to a drop in demand for gold during the festive season coupled with lowered demand overseas as markets recovered.
- The price of gold failed to increase following the sharp decline in demand, resulting in gold trading at Rs.2,941 per gram as the month ended, recording a 5.09% drop in value.
Gold Rate Trend for Jammu & Kashmir in December 2016
- The price of gold continued to fall in the last month of the year due to lower than expected demand across sectors.
- Gold was priced at Rs.2,893 per gram on 1st December, with demand rising due to fluctuations in the market.
- The festive season saw higher volumes of retail spending, which stimulated markets and led to a rise in global currencies, which pushed demand for gold lower.
- The continued shortage of legal tender affected consumer demand for gold, which led to prices remaining low.
- Prices dropped to Rs.2,800 per gram on 23rd December on stagnant demand, but recovered as the month ended due to a slight fall in the U.S. Dollar value.
- Gold ended the month trading at Rs.2,844 per gram on 31st December.
|1st day||Rs.3,167 per gram||Rs.3,219 per gram||Rs.3,184 per gram|
|Last day||Rs.3,219 per gram||Rs.3,205 per gram||Rs.3,217 per gram|
|Highest price||Rs.3,227 per gram from 7th to 9th July||Rs.3,248 per gram on 4th and 10th August||Rs.3,228 per gram from 7th to 12th September|
|Lowest price||Rs.3,163 per gram on 22nd July||Rs.3,205 per gram from 26th to 31st August||Rs.3,184 per gram on 1st and 2nd September|
Gold Rate Trend of Jammu and Kashmir in July 2016
- Demand for gold was high this month owing to a positive atmosphere in the global market.
- Gold was seen trading at Rs.3,167 per gram on 1st July.
- Prices climbed to Rs.3,227 per gram from 7th to 9th July, the highest for this month.
- There were fluctuations in gold rates but the lowest it dipped to was only Rs.3,163 per gram on 22nd July.
- Overall, gold prices saw an increase of 1.64% this month.
Gold Rate Trend of Jammu and Kashmir in August 2016
- A constant trend ruled gold prices till August 9th with gold trading at Rs.3,219 per gram.
- Stable prices can be attributed to steady demand in the domestic and global markets.
- Strong economic data from the U.S. indicated that a Fed rate hike was possible soon.
- Gold prices started to plunge as demand declined.
- On the last day of August, gold traded at Rs.3,205 per gram marking a decline of 0.43% in gold rates this month.
Gold Rate Trend of Jammu and Kashmir in September 2016
- Gold traded at Rs.3,184 per gram on 1st and 2nd September which was the lowest price for the month.
- Bearish sentiments had a strong presence in the market till the interest rate hike by the U.S. Federal Reserve was put off till December on account of the approaching presidential elections.
- Gold regained its safe-haven appeal and investors’ willingness to buy gold started to rise.
- By the end of the month, gold rates climbed to Rs.3,217 per gram marking an increase of 1.04%.
|1st day||Rs.2,943 per gram.||Rs.3,119 per gram.||Rs.2,960 per gram.|
|Last day||Rs.3,119 per gram.||Rs.2,960 per gram.||Rs.3,167 per gram.|
|Highest price||Rs.3,119 per gram on 30th April.||Rs.3,120 per gram from 7th-9th May.||Rs.3,182 per gram on 28th June.|
|Lowest price||Rs.2,933 per gram on 5th April.||Rs.2,960 per gram from 28th-31st May.||Rs.2,950 per gram from 2nd-5th, 24th-27th and 29th June.|
|Trend||Increase in price.||Decrease in price.||Increase in price.|
|Change||+5.98% increase.||-5.09% decrease.||+6.99% increase.|
Gold Rate Trend in Jammu and Kashmir in April 2016
- Gold prices were quite stable during the month, with prices increasing as the demand increased after the strike was called off.
- Prices rose in the second week of April and high demand pushed prices up by Rs.40 per gram in a day.
- Rates increased marginally as the month progressed.
- Gold traded at Rs.3,119 per gram on the 30th of April.
Gold Rate Trend in Jammu and Kashmir in May 2016
- Prices were high at the beginning of the month but declined due to market factors and low demand.
- Gold traded at highs of Rs.3,120 on the 7th of May but prices declined in the subsequent weeks.
- A stronger market led to lowered demand for gold, causing prices to fall.
- Speculation over a U.S. rate hike caused markets to rally, with gold trading at Rs.2,960 per gram at the end of May.
Gold Rate Trend in Jammu and Kashmir in June 2016
- Prices slowly rose as gold rallied after a poor showing in the previous month.
- Gold traded at Rs.3,003 per gram in the first week of June as markets continued to make gains.
- As the possibility of a rate hike declined, the markets began to falter and demand for gold rose.
- The impending Brexit referendum led to market instability, leading to demand for gold, pushing prices up to Rs.3,167 per gram.
|1st day||Rs.2,585 per gram.||Rs.2,756 per gram.||Rs.3,030 per gram.|
|Last day||Rs.2,756 per gram.||Rs.3,037 per gram.||Rs.2,948 per gram.|
|Highest price||Rs.2,772 per gram on 28th Jan.||Rs.3,049 per gram on 26th Feb.||Rs.3,030 per gram on 1st, 3rd-14th March.|
|Lowest price||Rs.2,580 per gram on 4th Jan.||Rs.2,756 on 1st Feb.||Rs.2,940 per gram from 15th-17th March.|
|Trend||Increase in price.||Increase in price.||Decrease in price.|
|Change||+6.61% increase.||+10.19% increase.||-2.70% decrease.|
Gold Rate Trend in Jammu and Kashmir in January 2016
- Gold retailed at a steady rate with marginal gains during the first half of the month.
- Prices rose as demand from jewellers and industry was high.
- Prices plateaued at Rs.2,655 for a week as demand shrunk.
- Rate increased as demand rose again, closing the month at Rs.2,756 per gram.
Gold Rate Trend in Jammu and Kashmir in February 2016
- Gold prices climbed steadily higher as demand was constant due to the festive season.
- Gold traded at Rs.2,756 per gram at the start of the month, reaching highs of Rs.3,049 per gram on the 26th of February.
- Global cues and consistent demand domestically resulted in prices being relatively stable, with gold closing at Rs.3,037 per gram on the 29th of February.
Gold Rate Trend in Jammu and Kashmir in March 2016
- Gold prices in March were stagnant due to the nationwide jewellers’ strike that lasted the whole month.
- Gold traded at Rs.3,030 per gram for the first half of the month before falling to Rs.2,940 per gram for the remainder of the month.
- Reduced demand from industrial units pushed prices down further, leading to a price stagnation.
Gold investment avenues in Jammu and Kashmir
Gold forms an integral component of the investment portfolio of residents in Jammu and Kashmir, with multiple options to suit the needs of everyone.
Market Trade – While market trade of gold is yet to find favour among local residents, there are a few people who have started experimenting with it, thanks to the huge potential it offers. E-gold, futures contracts and Exchange Traded Funds (ETFs) are some of the options one can choose from.
Over-the-counter – A majority of the gold purchased in the state comes in the form of over-the-counter purchase through jewellers and banks. Jewellery is the preferred form of purchasing gold and the state has jewellery shops to cater to the demand for gold. Gold purchased from banks might be a bit more expensive on account of purity checks and guarantees.
Also Check Gold Prices in the Cities of Jammu and Kashmir
|Today's Gold Rate In Jammu||Today's Gold Rate In Srinagar|
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