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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 14th 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 prices in Jammu
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 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 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 October 2016 to December 2016 (per gram of 24 karat gold)
| Factor | October | November | December |
| 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 |
| Trend | Decline | Decline | Decline |
| Change | -3.30% | -5.09% | -1.69% |
Gold Rate Trend for Jammu in October 2016
- Gold prices in Jammu were stable but lower than expected as the month began, trading at Rs.3,205 per gram on reduced demand from industry and jewellers.
- Fears over increased scrutiny of bullion purchases led to a slight decline in demand in the retail sector, though industrial demand was consistent.
- A drop in demand overseas led to demand stagnating over the next two weeks, with gold trading at Rs.3,088 per gram from 6th-25th October.
- Prices rose marginally as the month ended, with gold trading at Rs.3,099 per gram on 31st October, registering an overall loss of 3.30%.
Gold Rate Trend for Jammu in November 2016
- The price of gold in November saw some increases, though prices dropped towards the middle of the month after an initial rally.
- Gold traded at Rs.3,099 per gram on 1st November and rose to Rs.3,211 per gram on 9th November on strong demand following the announcement of the demonetisation of large currency notes.
- The surprise victory of Donald Trump in the U.S. presidential election led to markets falling, which led to an increased demand for gold.
- Prices fell due to a currency shortage in India and a rally by markets overseas.
- Gold prices failed to recover from the slump in demand, resulting in gold trading at Rs.2,941 per gram on 30th November, amounting to a 5.09% decline in price.
Gold Rate Trend for Jammu in December 2016
- The last month of the year saw prices continue to drop due to a decrease in demand.
- Gold traded at Rs.2,893 per gram on 1st December as demand rose marginally on market fluctuations.
- An increase in retail demand led to markets and currencies rising, which led to a reduction in demand for gold, pushing prices lower.
- The currency shortage led to lower than usual demand for gold during the festive season, which kept domestic prices low.
- Gold fell to a quarterly low of Rs.2,800 per gram in 23rd December, but recovered marginally to close the year at Rs.2,844 per gram.
- Gold prices fell by 1.69% during the month of December.
Gold Rate Trend in Jammu for July 2016 to September 2016 (per gram of 24 karat gold)
| Factor | July | August | September |
| 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-9th July | Rs.3,248 per gram on 4th and 10th August | Rs.3,228 per gram from 7th-12th September |
| Lowest Price | Rs.3,163 per gram on 22nd July | Rs.3,206 per gram from 7th-9th August | Rs.3,184 per gram on 1st September |
| Trend | increase in price | Decrease in price | Increase in price |
| Change | +1.64 % increase | -0.43% decrease | +1.03% increase |
Gold Rate Trend for Jammu in July 2016
- Gold traded at Rs.3,167 per gram in the first week of July, with positive market trends leading to the price rising.
- There was a slight slump in prices due to lowered demand during the second week, with prices dropping.
- Prices remained low due to stagnant domestic demand and similar trends overseas, trading at Rs.3,163 per gram.
- Gold rates rose marginally as the week progressed as demand picked up., trading at Rs.3,178 per gram.
- Prices stabilised as the month ended, with gold trading at Rs.3,219 per gram.
Gold Rate Trend for Jammu in August 2016
- Gold traded at Rs.3,219 per gram for the first week, with prices stabilised due to flat demand.
- Prices rose sharply to Rs.3,248 per gram at the start of the second week, but demand stabilised and price settled at Rs.3,206 per gram.
- As markets were unstable, demand for gold rose, resulting in prices increasing marginally.
- Overseas cues led to a slight drop in demand, with prices falling in the third week of August.
- Prices maintained a marginal increase as the month ended, with gold trading at Rs.3,205 per gram.
Gold Rate Trend for Jammu in September 2016
- Gold prices slumped further on poor domestic demand and weak international cues, but demand picked up as the week ended.
- Gold traded at Rs.3,228 for the second week as prices remained constant for the most part of the week.
- Market fluctuations led to a slight rise in price but weak international demand resulted in prices staying low.
- The third week saw gold trading at Rs.3,195 per gram for most of the week, buoyed by strengthening demand.
- A resurgent market led to demand for gold falling, with gold trading at Rs.3,217 per gram.
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% |
Gold Rate Trend of Jammu in April 2016
- Gold rates started at Rs. 2,943 per gram for the month of April.
- The rates fluctuated throughout the month rising and falling every few days.
- The rates end at a high of Rs. 3,119 per gram marking a 5.98% increase.
Gold Rate Trend of Jammu in May 2016
- Gold rates were at Rs. 3,119 at the start of May.
- Prices fluctuated throughout the month with the highest at Rs. 3,120 on the 7th to the 9th of May.
- The prices dropped to Rs. 2,960 by the end of the month with a decline of 5.09%.
| Factor | January | February | March |
| 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 January 28th | Rs. 3,049 per gram on February 26th | Rs. 3,030 per gram on March 1st – 14th |
| Lowest price | Rs. 2,580 per gram from January 2nd - 4th | Rs. 2,756 per gram on February 1st | Rs. 2,940 per gram on March 15th – 17th |
| Trend | Rising | Rising | Decline |
| Change | + 6.61% | + 10.19% | - 2.70% |
Gold Rate Trend of Jammu in January 2016
- Gold traded at Rs. 2,585 at the start of the month falling to Rs. 2,580 for the next three days.
- Prices picked up again on January 7th at Rs. 2,681. It dropped and picked up to the same rate on January 14th.
- Prices continued to fluctuate but showed a pattern on incline ending at Rs. 2,756.
Gold Rate Trend of Jammu in February 2016
- Gold remained unchanged at Rs. 2,756 per gram on 1st of February.
- Prices fluctuated through the month of February but showed an increase overall.
- The highest price recorded this month was on 26th February at Rs. 3,049 after which it started to decline again.
Gold Rate Trend of Jammu in March 2016
- Gold rates remained at a high rate of Rs. 3,030 and remained constant for the first two weeks.
- Prices started dropping from March 15th at the lowest for the month at Rs. 2,940
- Prices fluctuated but finally dropped to Rs. 2,948 on 25th March and remained unchanged for the rest of the month.
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% |
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 Rate in Jammu and Kashmir
Also Check Gold Price in NearBy Cities of Jammu
| Gold Rate In Chandigarh | Gold Rate In Srinagar | Gold Rate In Ludhiana |
| Gold Rate In Shimla | Gold Rate In Delhi |
Read more on Gold
- Auspicious Days To Buy Gold In 2016
- Global Demand For Gold Driven By Indian Wedding Traditions
- Gold And Devaluation
- Significance Of Indian Jewellery
- Where To Buy Gold In India
