Gold Rate In Kanpur

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India is one of the largest consumers of gold in the world. It is, in fact, beaten only by China and that too by not a very huge margin. In a country that consumes so much gold, it is natural that the effects of the change in the rates of gold will be more visible. The prices of gold have been going through a low period since 2015 but they seem to be on the rise now. The year 2016 began with a low price for both 24 and 22 karat gold but it has been recovering. It did manage to climb up to about Rs. 29,770 in March of 2016 but further fluctuation is being expected as market conditions keep changing. One of the key factors that can effect such fluctuations can be the US dollar itself. Since gold is traded in USD, if the dollar gets strong, the price of gold can fall since the demand will fall owing to the cost of the dollar.

Kanpur is a city in the state of Uttar Pradesh and is considered to be one of the largest cities in that state. The city is an industrial hub and boasts of many textile manufacturing units. Other industrial establishment that also find a home in the city include industries like leather production, plastics, detergents, food processing, etc. Gold jewellery is one of the major productions in the city and it is also quite well known for the typical style of the jewellery that is produced here.

Gold Rate Trend in Kanpur for October 2018 to December 2018 (per gram of 24 karat gold)

Gold Rate Trend in Kanpur for October 2018:

• Gold was priced at Rs.3,140 per gram in Kanpur when trading started for the month of October. This month’s trade was largely on the positive side as demand was high due to the US and China still haggling over trade issues.
• Due to this, the US dollar was weakened, which pushed investors to take advantage of the situation in the global market, and the same demand trickled down to all Indian cities as well.
• Gold was at its highest this month on the 25th when the metal traded at Rs.3,271 per gram before closing at Rs.3,260 per gram on the final day of the month.
• Price trends in Kanpur recorded a 3.82% incline this month as demand was on the positive side, thanks to a shaky market.

Gold Rate Trend in Kanpur for November 2018:

• All of October’s positive sales figures were undone in November as demand tumbled in a swift manner leaving gold prices down in the dumps.
• The month began with gold opening at Rs.3,255 per gram before rising to a monthly high rate of Rs.3,266 per gram on the 7th of the month.
• From the 8th onwards, it was all downhill for gold and demand went down as the US dollar recovered and the metal became expensive for importers.
• When the month ended, the yellow metal was priced at Rs.3,124 per gram and price trends changed by 4.02% for the negative.

Gold Rate Trend in Kanpur for December 2018:

• December brought a positive end to what was a tumultuous gold trading final quarter of 2018. Trend was better this month as the dollar was again performing poorly.
• The metal was priced at Rs.3,108 per gram – which continued till the third day of the month. This was also the lowest gold rate for the month.
• From the 4th onwards, however, gold prices picked up as also went up amidst a poor market. The metal traded at Rs.3,260 per gram on the 11th and 12th of the month.
• December’s trading recorded at 4.21% incline in prices, thanks to a much-improved demand for the yellow metal.

Gold Rate Trend in Kanpur for July 2018 to September 2018 (per gram of 24 karat gold)

Gold rate trend In Kanpur for July 2018

• The gold price in Kanpur at the start of July stood at Rs.3,124 per gram. The demand for the precious metal was steady from local jewellers.
• As the US dollar weakened, the price of gold in Kanpur surged and was priced at Rs.3,140 per gram on 7 July. This was also the highest gold rate recorded for the month of July in Kanpur.
• However, in the following few days, the value of the US dollar dropped ahead of the Federal Reserve's policy meeting scheduled to be held in July. This caused gold rates to decline in the city.
• Gold in Kanpur was priced at its lowest on 19 July, and again on 31 July at Rs.3,056 per gram due to poor trend overseas.
• Gold rates could not recover throughout the month and recorded a decline of 2.17%.

Gold rate trend In Kanpur for August 2018

• On 1 August, the yellow metal traded at Rs.3,050 per gram.
• The demand during the beginning of the month was stable amid unfavourable trends overseas.
• The demand for the metal and the value of the US dollar played a crucial role in determining gold rates in Kanpur.
• From 17 to 19 August, as the demand for the metal took a fall due to the strengthening US dollar, gold rates hit a monthly low of Rs.3,003 per gram.
• However, gold prices quickly recovered as investors gravitated towards safe-haven assets.
• On 31 August, the last day of the month, the highest gold rate of Rs.3,092 per gram for the month of August was recorded in Kanpur.
• The trend of gold rates in the city inclined by 1.37% for the month of August.

Gold Rate Trend in Kanpur for September 2018

• With the relentless increase of the U.S. Ddollar over the Indian currency, the interest in the precious metal declined, as gold opened for trading at Rs.3,103 per gram.
• Jewellers began stocking up in anticipation of the upcoming festive season which influenced the increase in orders and the increase in prices of gold. Gold touched Rs.3,155 per gram on the 27th of the month. This was the highest gold rate recorded for the month of September in Kannur.
• The lowest gold rate for the month was recorded on 4th September when the precious metal traded at Rs.3,082 per gram.
• Overall, gold prices in Kanpur grew by 1.19% attributed to the appreciation of the U.S. Dollar over the rupee and the steep incline in fuel prices.

Gold Rate Trend in Kanpur for April 2018 to June 2018

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

Gold Rate Trend in Kanpur for January 2018

• Gold price in Kanpur stood at Rs.3,010 per gram when trading began for January. This price is also the lowest gold rate for the month which continued until the 3rd of the month.
• Amid a weak dollar, gold rates were on the rise as demand began to pick up in the first week of the month.
• The USD was affected by an underperforming US market and the policy decisions taken by the US administration.
• Gold rates continued to increase during the third and fourth weeks, which could be attributed to the rise in demand for the precious metal in the market.
• The highest gold rate in Kanpur during the month of January stood at Rs.3,120 per gram recorded on the 24th and the 25th of the month - largely influenced by the rise in demand.
• During the fourth week, gold rates in Kanpur dropped in the backdrop of a steady demand for the metal. On the last day of January, the gold rate in Kanpur stood Rs.3,066 per gram, an increase of Rs.56 per gram compared to the opening date price.
• Gold price in January reflected an upward trend with 1.19% change mainly attributed to the increase in demand for the metal.

Gold Rate Trend in Kanpur for February 2018

• Gold price in Kanpur rose to stand at Rs.3,077 per gram on 1 February 2018. Gold continued to retail with the same price for the first four days of the month before it increased by Rs.5 on the 5th of the month.
• In the second week, the gold rate in Kanpur declined to record its lowest rate at Rs.3,035 per gram on the 9th. The decline in the gold rate was in tandem with the drop in demand for the precious metal as well as due to a stronger dollar.
• However, gold price in Kanpur began to increase in the next week amid higher demand in the backdrop of the wedding season.
• The highest gold price in Kanpur during the month of February stood at Rs.3,161 per gram recorded on the 18th and the 19th as the demand was steady due to strong cues.
• Towards the end of the month, gold price in Kanpur declined with the gold price holding at Rs.3,129 per gram on the last day of the month.
• Overall, gold price in Kanpur during the month of February saw an incline in trend at 1.68% due to an improved demand in the last two weeks of the month.

Gold Rate Trend in Kanpur for March 2018

• On 1st March 2018, the gold traded at Rs.3,113 per gram, a slight decline by Rs.16 per gram compared to the previous day.
• Gold rates in Kanpur continued to remain stable before dropping to its lowest price on the 19th recorded at Rs.3,098 per gram owing to a stabilising dollar as well as a decline in demand for gold.
• Despite a positive growth of gold during this month, it was not the same as it performed over the last two months of the quarter.
• While the gold rate remained stable for the first week, it declined towards the end of the third week.
• During the last week, the price of the precious metal rose to record the highest for the month at Rs.3,171 per gram on 25th and 26th of the month.
• On the last day of the month, gold prices slid owing to the decline in the demand and the stabilisation of the US dollar.
• Gold rate in Kanpur for the month of March reflected an inclining trend with a 0.67% change impacted by the strong changes in demand for the metal especially in the last couple of days.

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

Gold Rate Trend in Kanpur for October 2017:

• Trading began in Kanpur with the bullion prices holding at Rs.3,063 per gram on the 1st amid the strengthening US dollar and rising equities.
• However, a decline in demand brought about by the steady dollar and equities over the next few days resulted in gold rate in Kanpur dropping to Rs.3,028 per gram on the 6th.
• On the 12th, gold price in Kanpur surged to Rs.3,072 per gram - the highest recorded monthly figure - owing to an increased buying by local jewellers, industries and retailers ahead of Dhanteras.
• Despite the arrival of festive season, local demand for gold remained low for much of the week. This was due to the well-performing equities amid the strengthening US dollar index.
• When trading concluded for the month, the precious metal was recorded trading at Rs.3,026 per gram on the 31st. Kanpur witnessed gold rates dropping by 1.20% amid the poor trends overseas.

Gold Rate Trend in Kanpur for November 2017:

• When the month began, the yellow metal was recorded trading relatively lower at Rs.3,006 per gram with the strong dollar pushing demand lower for the metal. This was also the lowest recorded monthly figure in Kanpur.
• However, with the dollar index losing against other emerging over the next few days, demand for the metal surged. This led to gold price in Kanpur rising to Rs.3,045 per gram on the 10th.
• Thanks to strong domestic demand amid the positive trends overseas, gold rate in Kanpur hit their highest for the month at Rs.3,060 per gram on the 18th.
• With the US dollar regaining lost ground over the next few days and positive sentiments on President Trump’s US tax reform plan, demand for the metal declined as the month progressed.
• The month ended with the bullion prices holding at Rs.3,026 per gram - the lowest recorded monthly figure - on the last day with steady demand from local industries, jewellers and retailers.
• Gold rate trends in Kanpur recorded an incline of 0.66% during the course of the month.

Gold Rate Trend in Kanpur for December 2017:

• The final month of the quarter began with the yellow metal trading at Rs.3,016 per gram on the 1st amid poor trends overseas.
• With the US tax reform bill hitting a roadblock in the US Senate, the dollar lost its sheen. This led to gold rates hitting their highest recorded monthly figure of Rs.3,036 per gram until the 4th.
• Gold rate in Kanpur plunged to Rs.2,910 per gram on the 11th after the US dollar index gained against other apex currencies following the approval of the Republican tax reform bill in the US Senate.
• However, the Federal Reserve’s decision to raise their benchmark interest proved to have a negative impact on the markets with equities declining over the next few days. This led to an increase in safe-haven demand for the metal.
• When trading concluded for the month, the bullion prices were recorded holding at Rs.3,020 per gram on the 31st amid strong global cues.
• Gold trade in Kanpur witnessed an incline of 0.13% in gold prices during the month due to the strong overseas trends that pushed demand higher for the yellow metal.

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

Gold rate trend in Kanpur for July 2017

• When trading commenced in Kanpur, gold was trading high at Rs.2,992 per gram on the 1st of July. This was also the highest recorded monthly figure in the city.
• Gold rates in Kanpur dropped to Rs.2,902 per gram on the 8th due to an uncharacteristic decline in local demand.
• The release of US employment data resulted in further decline in demand. This led to gold rates falling to Rs.2,843 per gram - the lowest recorded monthly figure - on the 12th.
• The US economy tanked as the Trump scandal took centre stage. This resulted in gold prices rise to Rs.2,863 per gram on the 14th.
• Gold prices in Kanpur surged further to Rs.2,908 per gram on the 21st, as Asian demand for the metal increased with the falling dollar rates.
• Thanks to steady demand from industries, jewellers and retailers, rates remained steady at Rs.2,944 per gram from the 22nd to the 24th.
• The 27th witnessed gold trading at Rs.2,950 per gram, courtesy of a weak dollar rate.
• The continued aggression between the US and North Korea sent the US markets crashing. This led to gold rates rising to Rs.2,955 per gram on the 29th.
• The month ended with the yellow metal trading at Rs.2,950 per gram on the 31st, owing to steady demand from local jewellers, retailers and industries.

Gold rate trend in Kanpur for August 2017

• The month started off with the yellow metal trading at Rs.2,960 per gram on the 1st of August.
• Gold prices fluctuated over the next few days as possibilities of an interest rate hike by the Federal Reserve resulted in industries and refraining from making purchases, and the precious metal was trading at Rs.2,930 per gram on the 5th.
• The overseas conflict between the US and North Korea sent global markets crashing. This resulted in an increased demand for safe-haven assets like gold, thus, pushing gold price in Kanpur higher to Rs.2,974 per gram on the 10th.
• The US-North Korean relations worsened over the next few days, pushing demand higher for the metal. This led to gold prices in Kanpur rising to Rs.2,999 per gram on the 18th.
• Prices, however, dropped to Rs.2,982 per gram over the next few days, but recovered to be priced at Rs.2,992 per gram on the 24th as the US dollar inched down as the stand-off between the US and North Korea took centre stage.
• The 28th witnessed bullion trade skyrocketing after the US economy tanked with Hurricane Harvey having taken its toll on the US coast. This resulted in gold rates in Kanpur surging to Rs.3,017 per gram on the 28th.
• When trading concluded for the month of August, gold was priced at Rs.2,999 per gram on the 31st.

Gold rate trend in Kanpur for September 2017

• Gold was recorded trading at Rs.3,024 per gram, when the month began in Kanpur.
• News about North Korea’s successful two-stage thermonuclear weapon test broke out, and world markets tanked. This led to investors gravitating towards investments considered safer, pushing demand for the precious metal and yellow metal was priced at Rs.3,130 per - the highest recorded monthly figure - on the 8th.
• However, demand for the metal dropped with the US economy recovering over the next few days. This led to gold rates in Kanpur plunging to Rs.3,056 per gram on the 18th.
• With the US dollar retaining lost ground, demand dropped further pushing prices down to Rs.3,051 per gram on the 25th.
• The 26th, however, witnessed local demand improve with the arrival of festive season. This led to the yellow metal prices rising to Rs.3,110 per gram.
• The US dollar gained against other major emerging currencies as demand for the metal declined with the possibility of a new Fed rate hike.
• The month concluded with the precious metal trading at Rs.3,063 per gram on the 30th, thanks to steady domestic demand from jewellers, industries and retailers.

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

Gold rate trend for Kanpur in April 2017

• Gold traded on the first day of the month at Rs.2,991 per gram.
• The price of gold remained stable for the next couple of days due to Federal Reserve developments and unhopeful US economic data. The price of gold was stable from 1 to 3 April, standing at Rs.2,991 per gram.
• There was an incline in the price of the precious yellow metal from April 4, when the price stood at Rs.3,003 per gram. The price remained the same till April 7.
• The price dwindled again on April 8 to Rs.2,983 per gram from Rs.3,003 per gram, a fall by Rs.20 per gram. This fall in price is due to the strengthening of the US Dollar.
• As the week progressed the price of gold increased, influenced by geopolitical tensions surrounding Syria and North Korea. This led to a rise in safe-haven buying.
• The price of gold reached the highest in the month, standing at Rs.3,068 per gram from 15 to 16 April as demand increased.
• In the next few days, the rising rupee gave opportunity for ma ny buyers to purchase the precious yellow metal.
• Over the course of the month, prices inclined by 0.66%.

Gold rate trend for Kanpur in May 2017

• Gold opened at the markets on a high note at the beginning of the month. The price of gold was Rs.3,011 per gram on May 1. The price of gold remained the same on the next day.
• The price went down to Rs.2,982 per gram on May 3 from Rs.3,011 the previous day. A fall by Rs.29 per gram due to the rise in the US Dollar rate and a low demand for safe-haven assets as equity markets were on a high.
• Gold price in Kanpur continued to fall over the course of the week. The price fell to Rs.2,942 on May 8.
• The fluctuation in price during this week was due to winning of Emmanuel Macron in the presidential election in France.
• The price of gold in Kanpur fell to its lowest in the month of May from 11 to 15, when price stood at Rs.2,918 per gram. This was because of weak US manufacturing data.
• Prices went up from the next day and consecutively increased over the course of the month. However, the price did not reach its highest, which was on the first two days of the month.
• The price of gold was influenced by the blast in Manchester and other geo-political developments during the last week of May.
• Overall prices declined by -0.63% in Kanpur during the month of May.

Gold rate trend in Kanpur for June 2017

• Gold traded on a high note in the beginning of the month. This is because of various factors and happenings during the first week of June like the weakening of the US Dollar rate and the national election in UK.
• Gold traded at Rs.3,012 per gram in Kanpur on June 1. The price remained the same on the next day.
• The price of the precious metal spiked on June 3, standing at Rs.3,022 per gram. The price continued to increase over the course of the week.
• The price of gold on June 6 was Rs.3,037 per gram. This rise can be attributed to the fall in the US Dollar rate.
• On the next day, June 7, the price of the precious yellow metal reached its highest in the month at Rs.3,057 per gram. This trend is because of the development in Asian stock markets.
• The price of gold came down in the next few days as there were several import-related hindrances due to the forthcoming implementation of a new tax regime in the country.
• The price of gold fell to Rs.2,982 per gram on June 19 due to fluctuation in demand and the increase in the US Dollar.
• Overall, the price of gold declined by -0.66% during June.

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

Gold Rate Trend for Kanpur in January 2017

• On the 1st day of January, gold in Kanpur opened at Rs.2,844 per gram and was stable at this rate until the 3rd of the month.
• Due to positive market cues, the rate of gold went up marginally to trade at Rs.2,855 per gram before rising even further to trade at Rs.2,866 per gram from the 5th of January to the 9th.
• Thanks to an increase in the demand for this metal, as the third week of January progressed, the rate of gold continued to rise with marginal fluctuations.
• On the 24th of January, gold traded at Rs.2,979 per gram which was the highest at which gold traded at for the month.
• At the end of the month, gold was priced at Rs.2,958 per gram, recording a rise of 4% in the rate of gold.

Gold Rate Trend for Kanpur in February 2017

• Gold traded at Rs.2,978 per gram on the 1st of February and was steady at this rate until the 3rd of February.
• However, on the 4th of February, the rate of gold reduced due to a rise in the value of the U.S.Dollar trading at Rs.2,957 per gram.
• This rate was maintained until the 6th of February post which the rate of gold increased again.
• Due to heavy demand from jewellers in domestic markets, the rate of gold shot up to Rs.3,009 per gram on the 8th of February and stayed at this rate until the 10th of February before declining again.
• The rate of gold was steady at Rs.2,999 per gram from the 18th of February to the 24th of February due to steady demand.
• Gold closed the month of February in Kanpur by trading at Rs.3,020 per gram recording an incline of 1.41% in the rate of gold.

Gold Rate Trend for Kanpur in March 2017

• Gold traded at Rs.3,009 per gram on the 1st of March and stayed at this rate until the 2nd as well
• However, the price of gold reduced the next day to trade at Rs.2,990 per gram and stayed steady at this rate until the 6th before reducing again.
• Due to the impact of the Dutch elections as well as the U.S. Fed’s decision regarding the rate of interest, the price of gold plunged to a monthly low of Rs.2,950 per gram on the 15th of March.
• The rate of gold fluctuated between Rs.3,003 per gram and Rs.2,993 per gram between the 22nd of March and 26th of March, before steadily trading at Rs.3,003 per gram from the 27th of March to the 30th of March.
• As the month of March ended, gold traded at Rs.2,991 per gram recording a decline of 0.59% in the price of gold.

Gold as an investment

Since the city is so well known for the gold that comes out of it, it is natural to assume that the people of Kanpur are keen on spending on gold in the form of ornaments and in the form of an investment. The ways that they can do this in are:

Physical gold: Since the jewellery made in Kanpur is so famous, the people always have the option to buy physical gold in the form of ornaments. The city has a lot of shops that sell jewellery made out of gold and offer all sorts of trinkets made out of it.

Buying gold from banks: Banks in Kanpur also offer gold bullion in both 24 karat and 22 karat gold. This can be purchased from most of the banks and with appropriate certificates as to the purity of the gold being sold.

Trading in gold: Trading in gold is another avenue open to the people of Kanpur. This trading can be conducted either by investing in gold directly through gold exchange traded funds or through gold mutual funds that many of the asset management companies offer. These mutual funds even come with CRISIL ratings that can help identify the good funds to invest in.

Gold rates in Kanpur

Since the price of gold in Kanpur follows the same trends as the rest of the country, it too saw a sharp drop in the price in 2015. The demand for gold had also gone down since there was a lot of uncertainty about the prices. Since 2016, gold prices have begun a slow march towards a rise and now stand at Rs. 27,820 for 10 grams of 22 karat gold and Rs. 29,790 for 24 karat. In the beginning of 2016, the price of gold stood at about Rs. 2,655 for 1 gm of 24 karat gold. It has since risen by slightly over 10% to settle at Rs. 3,030 per gram of 24 karat gold. There is still fluctuation expected in the market even as US Federal Reserve rates are set to change once again which, no doubt, will affect the gold rate in Kanpur.