Gold Rate In Jammu

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Gold prices in Jammu

Jammu is the winter capital of the northernmost Indian state of Jammu & Kashmir. The city is believed to have been founded by Raja Jamboo Lochan, a 14^th century king. The city, also the headquarters of Jammu district, is located on the bank of River Tawi and borders Pakistan in the west. Because of this, insurgency and terrorist intrusions are part of the modern narrative of the city. Jammu’s location amidst mountain ranges of the Shivaliks also makes it vulnerable to these attacks.

The district’s population as per 2011 census was around 15.30 lakh. The city has a considerable population of Muslims and Hindus, as well as a smattering of Sikhs and followers of other religions. There are several temples, mosques and churches in the city, and Jammu is also a base camp for pilgrims headed to Vaishno Devi. The temple of Bawey Wali Mata (Mahakali), the dargah of Peer Budhan Ali Shah, the Ragunath Temple are among the popular worshipping spots in Jammu. Other historical monuments such as forts, tombs and museums also make Jammu an attractive tourist spot.

Gold demand in Jammu

Jammu has its share of jewellery shops, including national brands such as Tanishq and PC Jewellers. More than 50 other gold, silver and diamond jewellery showrooms also do brisk business in the city. The demand for traditional Dogri jewellery with exquisite craftsmanship that uses gold and beads, exists not only in Jammu but also across the country.

Gold Rate Trend in Jammu for January 2018 to March 2018 (per gram of 24 karat gold)

Factor	January	February	March
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 & 20 March
Trend	Incline	Incline	Incline
Change	1.19%	1.68%	0.67%

Gold Rate Trend in Jammu for January 2018:

• When the first day of 2018 opened for trading, gold was priced at Rs.3,010 per gram. As demand was low during the initial few days, gold rate in Jammu were on the lower side this month.
• Prices didn’t change till the 3rd and it remained at Rs. 3,010 per gram as demand was steady and there was very little change in the local market dynamics.
• Rates, as seen from the 1st to the 3rd, were the lowest for the month.
• Gold price in Jammu improved over the course of this month, thanks to a shaky US dollar, which pushed investors to invest in the metal.
• There were a few fluctuations over the third and the fourth week, and gold hit its highest rate for the month on the 24th and the 25th when it traded at Rs.3,120 per gram.
• Rates, however, fell over the last few days as the US dollar improved its positions and gold demand dropped as a result.
• A 1.19% incline in gold prices was recorded this month, thanks to a late surge in demand for the precious metal.

Gold Rate Trend in Jammu for February 2018:

• Gold rate in Jammu had surged by Rs.11 when February’s trading began and the yellow metal traded at Rs.3,077 per gram on the 1st.
• This month saw gold prices drop to its lowest figures during the second week owing to poor demand caused by a rising US dollar.
• On the 9th, gold price in Jammu were at their lowest for the month when it traded at Rs.3,035 per gram.
• From the 10th onwards gold prices began its slow but steady surge as the local demand seemed to surge consistently.
• Gold reached its highest monthly figure of Rs.3,161 per gram over the 18th and the 19th as demand from local retailers surged.
• As demand subsided, gold rates consolidated but still remained in the Rs.3,100 per gram range.
• On the final day of this month, gold was seen trading at Rs.3,129 per gram.
• This month saw gold price trends increase by 1.68% buoyed by the strong demand seen during the third week.

Gold Rate Trend in Jammu for March 2018:

• March 2018 began with gold trading at Rs.3,113 per gram - a Rs.16 decline from the previous day’s rates.
• The fall was alarming for investors but the steady and strong demand amid a poor dollar put all the doubts to rest.
• Gold prices in Jammu were largely steady for the first three weeks but fell to a monthly low figure of Rs.3,098 per gram over the 19th and 20th of this month.
• Concerns related to the activities carried out by the US caused the dollar to plummet, which pushed gold rates up to Rs.3,171 per gram on the 25th of the month.
• When the month ended, the yellow metal was priced at Rs.3,134 per gram.

Gold Rate Trend in Jammu for October 2017 to December 2017 (per gram of 24 karat gold)

Factor	October	November	December
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
Trend	Decline	Incline	Incline
Change	-1.20%	0.66%	0.13%

Gold Rate Trend in Jammu for October 2017:

• The price of gold in Jammu was a steady Rs.3,063 per gram as the month began.
• A decrease in price was recorded due to fluctuations in the market, with the price dropping to Rs.3,028 per gram on 6th October.
• Strong equity markets as well as a stable U.S. Dollar kept demand for gold muted overseas, leading to flat trading in the metal.
• The festive season and Diwali also failed to impact gold prices, which remained low for most of the month.
• Uncertainty over the U.S.’s trade negotiations and sluggish local demand kept prices low towards the end of the month.
• Gold price in Jammu dropped to a monthly low of Rs.3,026 per gram from 27th-30th October as steady equity markets as well as a decline in interest in bullion resulted in gold prices stagnating.
• The month ended with gold recovering marginally to close trading at Rs.3,026 per gram on 31st October and register a loss of 1.20%.

Gold Rate Trend in Jammu for November 2017:

• The month of November saw the price of gold rise to Rs.3,006 per gram on 1 November as demand picked up following a lean period.
• International markets were unstable after the U.S. Dollar dropped, resulting in greater local demand for the metal.
• Prices began to rise towards the middle of the month as local jewellers and retail demand picked up.
• Persistently low dollar rates as well as the festive season led to a surge in demand for gold, which led to the metal trading at Rs.3,060 per gram on 18th November.
• Gold price in Jammu were more or less steady as the month wore on, due in part to increased orders by local jewellers.
• Political uncertainty and the rising rhetoric against North Korea led to a loss in investor confidence in equities, which also drove higher demand for gold.
• Gold Price in Jammu dropped marginally as the month came to a close, with gold trading at Rs.3,026 per gram on 30th November to register a rise of 0.66%.

Gold Rate Trend in Jammu for December 2017:

• The last month of the year saw demand for gold fluctuate due to geopolitical factors and sharp price discrepancies.
• Gold opened the month trading at Rs.3,016 per gram, with prices falling as markets recovered after a period of geopolitical turmoil in the United States.
• Local demand kpet prices steady in the face of a global decline in demand for gold, though prices continued to drop.
• Prices kept fluctuating as demand from Asian nations was weak as analysts anticipated further drops in the price of the precious metal.
• Gold continued to make slight losses as the month ended on 31st December, with the metal priced at Rs.2,020 per gram.

Gold Rate Trend in Jammu for July 2017 to September 2017 (per gram of 24 karat gold)

Factor	July	August	September
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 and 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 and 13 July	Rs.2,930 per gram on 3 August and from 5 to 7 August	Rs.3,024 per gram on 1 September
Trend	Decline	Incline	Incline
Change	-1.4%	1.31%	1.29%

Gold Rate Trend in Jammu for July 2017:

• Gold rate in Jammu opened on a high of Rs.2,992 per gram on the 1st of July.
• The 1st and the 2nd saw a considerably higher rate of gold purchases as the newly legalised GST hadn’t yet taken hold of the market.
• From the 3rd onwards, however, gold prices in Jammu began to be impacted by the 3% GST levied on all gold purchases.
• GST put a halt to positive investor sentiments, which led to gold rates falling for vast majority of this month.
• The yellow metal’s prices saw significant decreases as it traded at Rs.2,942 per gram on the 4th, which then went down to Rs.2,902 per gram by the end of 9th July.
• Gold prices in Jammu fell further to Rs.2,872 per gram on the 11th before recording a monthly low figure of Rs.2,843 per gram on the 13th of July.
• The fall in prices occurred despite the US dollar being hit by the US president Donald Trump’s Russia-related scandal.
• Gold trading remained low yet steady with the metal seen trading at Rs.2,883 per gram by the end of July 20.
• The last ten days saw gold rates bounce back as bullion trading was propped up by a weak dollar and a relatively improving domestic outlook.
• When the month ended, gold was priced at Rs.2,950 per gram - a Rs.42 decline from the first day’s rates.

Gold Rate Trend in Jammu for August 2017:

• In August, gold trading improved as local off take from jewellers and investors surged despite weak demand globally.
• On the 1st of August, gold was priced at Rs.2,960 per gram, which was a slight improvement from the previous day’s rates.
• The lowest rate of Rs.2,930 per gram for the month was recorded between the 3rd and the 7th of the month despite weak dollar performance.
• Gold prices in Jammu improved from then on, hitting Rs.2,999 per gram on the 11th but fluctuating due to weak demand for the subsequent week.
• Rates reached a monthly high of Rs.3,017 per gram on the 28th as demand from local circles as buying intensified.

Gold Rate Trend in Jammu for September 2017:

• During September, price of gold in Jammu improved, thanks to positive cues worldwide.
• Jammu When the month began, gold was priced at Rs.3,024 per gram - which was the lowest gold rate for the entire month.
• Gold rates in Jammu reached a monthly high of Rs.3,130 per gram as the North Korean administration confirmed rumours of its latest nuclear test.
• Prices consolidated towards the end of the month as the US greenback made a comeback.
• When the month ended, gold prices in Jammu were recorded at Rs.3,063 per gram.
• There was a 1.29% increase in price trends this month, which was the result of a weak US market.

Gold Rate Trend in Jammu for April 2017 to June 2017 (per gram of 24 karat gold)

Factor	April	May	June
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 11 May to 15 May	Rs.2,982 per gram from 17 June to 22 June
Trend	Rise	Decline	Decline
Change	0.66%	-0.63%	-0.66%

Gold rate trend in Jammu for April 2017

• Gold opened at Rs.2,991 per gram on 1 April in Jammu, with this rate remaining steady until 3 April.
• From 4 April until 9 April, the value of the U.S. dollar reduced, thereby increasing the demand for this yellow metal. As a result, gold traded at Rs.3,003 per gram from 4 April until 7 April. Additionally, the demand for gold in Jammu was also stable during this period.
• This price was not sustained and the rate of gold plunged from 8 April to 10 April in Jammu. This precious metal traded at Rs.2,983 per gram during the above three days and was also the lowest at which gold was priced for the month of April.
• Socio-political crisis led to a marginal incline in the demand for this metal. Gold was priced at Rs.2,998 per gram on 11 April and increased thereafter.
• The rate of gold was steady at Rs.3,068 per gram of 15 and 16 April which was also the highest at which gold was priced for the month in Jammu.
• Towards the end of the month of April, this yellow metal was priced at Rs.3,011 per gram steadily and an incline of 0.66% was noted in the rate.

Gold rate trend in Jammu for May 2017

• Gold traded at Rs.3,011 per gram on 1 May in Jammu, which was a continuation of the rate noted during the month of April. This was also the highest at which gold was priced for the month of May.
• During the next few days however the rate of gold were quite low due to reducing demand for safe-haven bullion as the U.S. dollar gained as compared to the yen and Asian equities had rallied.
• The rate of gold was steady at Rs.2,952 per gram from 4 May to 7 May in Jammu and reduced by Rs.10 the next day.
• The rate of gold continued to reduce and plunged to a monthly low of Rs.2,918 per gram from 11 May to 15 May.
• The rate of gold was also impacted by Emmanuel Macron, a pro-EU candidate’s win in the French presidential elections.
• The price of this yellow metal increased as weak manufacturing data from the U.S. reduced expectations of an interest rate hike by the U.S Federal Reserve.
• Towards the end of the month, the demand for this metal reduced and gold traded steadily at Rs.2,992 per gram from 26 May to 31 May, recording a decline of 0.63% in the rate of this metal in Jammu.

Gold rate trend in Jammu for June 2017

• Gold was priced at Rs.3,012 per gram on 1 June in Jammu and stayed steady at this rate the next day as well.
• An increase of Rs.10 was noted in gold rate over the next two days before rising to trade at Rs.3,022 per gram until 4 June.
• Gold traded at Rs.3.57 per gram on 7 June which was the highest at which gold was priced for the month, in Jammu.
• Due to a weaker dollar and increased demand the rate of gold was relatively high at Rs.3,007 per gram from 10 June to 15 June.
• As the weeks progressed, there were a few fluctuations noted in the rate of gold due to variations in the demand as well as geopolitical factors.
• Towards the end of the month, this precious metal traded at Rs.2,992 per gram recording a decline of 0.66% in the rate of gold in Jammu.

Gold Rate Trend in Jammu for January 2017 to March 2017 (per gram of 24 karat gold)

Factor	January	February	March
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 from 23rd of January to 24th of January	Rs.3,031 per gram from the 25th of February to 27th of February	Rs.3,009 per gram on the 1st and 2nd of March
Lowest price	Rs.2,844 per gram from the 1st of January to the 3rd of January	Rs.2,957 per gram from the 4th of February to the 6th of February	Rs.2,950 per gram on the 15th of March
Trend	Incline	Incline	Decline
Change	4.0084%	1.41%	-0.60%

January 2017

• Gold started the year 2017 at a strong Rs.2,844 per gram, on account of technical buying despite a strong US Dollar on January 1st.
• An increase in demand saw Gold climb to Rs.2,855 per gram on January 4th.
• Healthy global demand saw Gold climb to Rs.2,866 per gram on January 5th.
• US stocks saw a slump as energy shares dropped along with the price of crude oil, allowing Gold to climb to Rs.2,888 per gram in its second week of trading on January 10th.
• Uncertainty surrounding the US monetary policy saw Gold further climb to Rs.2,925 per gram on January 12th.
• Concerns amid Britain’s exit from the European Union saw the global spot price of Gold climb to Rs.2,952 per gram to open the third week of trading on January 16th and January 17th.
• Uncertainty over a Federal Interest Rate hike saw the US Dollar slump, causing Gold to climb to an 8-week high of Rs.2,973 per gram on January 18th.
• On the 23rd of January Gold reached a 2-month high of Rs.2,979 per gram amid uncertainty of the future US monetary policy.
• Technical corrections caused Gold to slip to Rs.2,946 per gram on January 27th.
• A weak US Dollar and sluggish economic data from the US saw Gold prices climb to Rs.2,967 per gram on January 30th.
• Gold closed the month’s trade at Rs.2,958 per gram on January 31st.

February 2017

• Gold opened the month’s trading at Rs.2,978 per gram on February 1st.
• Uncertainty over the upcoming French election, weak industrial data from Germany and a strong US Dollar saw Gold slip to Rs.2,957 per gram to close the week’s trading on February 5th.
• A boost in demand from retailers, jewellers and investors saw Gold prices edge up to Rs.2,999 per gram on February 7th.
• Sustained demand for Gold saw prices further climb to Rs.3,009 per gram on February 8th, 9th and 10th.
• The US Dollar strengthening against the Japanese Yen saw Gold prices slip to Rs.2,983 per gram on February 11th.
• Gold remained stable and closed the second week’s trading at Rs.2,983 per gram on February 12th.
• Gold opened the third week of trading at Rs.2,983 per gram on February 13th.
• Technical corrections saw Gold slip to Rs.2,973 per gram on February 14th and February 15th.
• A weakened US Dollar saw Gold climb to Rs.3,004 per gram on February 17th.
• Gold held firm at Rs.2,999 per gram to close the week’s trade on February 19th.
• Gold opened the fourth week of trading at a stable Rs.2,999 per gram on February 20th.
• A struggling US Dollar amid uncertainty pertaining to the US monetary policy saw Gold climb to weekly high of Rs.3,031 per gram on February 25th.
• A marginally strengthened US Dollar saw Gold prices slip to Rs.3,020 per gram to close the month’s trade on February 28th.

March 2017

• A stronger US Dollar saw Gold open trading on March 1st at Rs.3,009 per gram.
• Expectations of a US Federal Interest Rate hike in March saw Gold slip to Rs.2,990 per gram between March 3rd and March 6th.
• A weak demand domestically saw Gold prices slip to Rs.2,965 per gram on March 10th.
• A stronger US Dollar and a weak global demand saw domestic prices of Gold fall to Rs.2,951 per gram on March 14th.
• A marginally weakened US Dollar saw Gold prices rise to Rs.2,971 per gram on March 18th and March 19th.
• The failure of a new healthcare bill proposed by President Donald Trump saw Gold climb to Rs.3,003 per gram on March 22nd and March 23rd.
• Technical corrections caused Gold to slip to Rs.2,993 per gram between March 24th and March 26th.
• A strong demand for Gold allowed it to recover to Rs.3,003 per gram between March 27th and March 30th.
• Technical corrections caused Gold to drop to Rs.2,991 per gram to close the month’s trading on March 31st.

Gold Rate Trend in Jammu for April 2016 to May 2016 (per gram of 24 karat gold)

Factor	April	May
1st day	Rs. 2,943 per gram	Rs. 3,119 per gram
Last day	Rs. 3,119 per gram	Rs. 2,960 per gram
Highest price	Rs. 3,119 per gram on 30th of April	Rs. 3,120 per gram on 7th to 9th of May
Lowest price	Rs. 2,943 per gram on 1st to 4th April	Rs. 2,960 per gram on the 28th to the 31st of May
Trend	Rising	Decline
Change	+ 5.98%	-5.09%

Indians consider gold as an investment as well as auspicious and an adornment. We buy gold articles and ornaments for weddings, birthdays, anniversaries as well as religious occasions. Almost every Indian household invests in gold in the form of either jewellery or gold coins. Gold is like a store of money for Indians – we do not hesitate to pledge our jewellery or sell it off in times of monetary crisis.

Gold rates depend on both the supply and demand for gold and gold products in the economy. It follows the demand-supply fundamentals – if demand is high and supply is low, we’ll see higher prices, while excess supply and low demand would lead to lower prices. However, since much of gold in India is imported, any fluctuations in international gold prices will also affect the prices of the precious metal here. The prices go up especially during the wedding season, as large-scale purchasing of gold jewellery and gift items occurs during that time.

Gold is primarily consumed in 24-karat (99.9% purity) for gold bars and coins, and in 22-karat (91.6% purity) for gold jewellery. Ornaments are also made of 20-karat, 18-karat and 14-karat versions. These, however, are not very popular as the resale value would be lower than that of 24- and 22-karat gold.

24-karat gold prices: As on March 9, 2016, 24-karat gold is priced at Rs. 30,321 in Jammu. On March 1, the price stood at Rs. 29,950. This means that in just 9 nine days, gold has gained Rs. 424 – or 1.42 percent – in the city. Also this price is only slightly lower than the price of gold in New Delhi, which was Rs. 30,374 on March 9. This indicates that prices in Jammu follows the national and international patterns of gold rates.

22-karat gold prices: Customers looking to purchase gold in Jammu would have to shell out Rs. 28,350 for 22-karat gold (as on March 9). This commodity was available for Rs. 28,000 at the beginning of the month – registering a rise of Rs. 350 (1.25 percent). The price rise of 22-karat gold has, therefore, been slower in Jammu compared to that of 24-karat gold. Gold rate in Delhi on March 9 was Rs. 28,400, barely Rs. 50 more than the rate in Jammu.

Gold investment in Jammu

Investment in gold is made in two major forms in Jammu, as in most other cities in the country:

Over-the-counter: Jewellery and articles are the most popular forms of investment in gold in Jammu. People buy jewellery and gold items that are sold or pawned when they need money urgently. The tendency would be to buy gold at lower prices and sell them or pawn them when the prices are high.

Market trade: Several trading options on gold are available in the market these days. These include gold exchange traded funds (ETFs), e-gold, gold coins and bars, and sovereign gold bonds. Though these are not very popular in Jammu currently, enterprising individuals have been experimenting and making the most of the benefits associated with these forms of investment.

Also Check Gold Price in NearBy Cities of Jammu

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