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Gold prices in Karnal
Karnal is an important rice-producing region of Haryana, lies within the National Capital Region that includes New Delhi. The city has proud historical antecedents, believed to have been founded by Karna of the Mahabharata. It has passed through the reigns of Nadir Shah, the Marathas, Raja Gopal Singh of Jind and Raja Gurdit Singh of Ladwa, before the British took over the administration.
Karnal is dotted with historical monuments such as tombs of emperors and saints, temples and churches, and a fort. It was a walled city up to 1862, when the fort was given over to the Education Department. The city is the headquarters of Karnal district and has a population of more than 3 lakh as per the 2011 census.
Gold is an important commodity in Indian households, and Karnal is no exception to this preference. People of Karnal buy gold to wear on occasions such as weddings and parties, as well as give gold jewellery as gift on birthdays and anniversaries. Gold is also popular as an investment avenue. Those who use gold or ornamental purposes also purchase rolled gold or gold-plated jewellery. These ornaments generally contain about 1% of gold that is polished on to the surface.
Karnal’s gold rates generally follow a pattern of being lower than the prices of the precious metal in its neighbour and the country’s capital, New Delhi. Without any local gold production, Karnal depends on imported gold to meet its needs. Hence, fluctuations in international gold prices are reflected in the prices seen in Karnal.
The prices for 24-karat and 22-karat gold differ here just like in any other place in the country. While 24-karat gold is bought by jewellers and those investing in gold coins and bars, 22-karat gold is favoured by consumers buying jewellery. Pure gold comes at 24 karat. The 22-karat gold is mixed with 2 parts of silver, nickel, copper or other metals to form a stronger and more durable alloy to make ornaments and gold articles with.
Gold Rate Trend in Karnal for January 2020 to March 2020 (per gram of 24 karat gold)
|1st Day||Rs.3,995 per gram||Rs.4,169 per gram||Rs.4,274 per gram|
|Last Day||Rs.4,169 per gram||Rs.4,368 per gram||Rs.4,253 per gram|
|Highest Price||Rs.4,179 per gram on 7 January||Rs.4,394 per gram on 25 February||Rs.4,536 per gram on 7 March|
|Lowest Price||Rs.3,995 per gram on 1 January||Rs.4,127 per gram on 6 February||Rs.4,111 per gram on 20 March|
Quarterly Gold Rate in Karnal from January 2020 to March 2020:
- In the month of January, gold opened at Rs.3,995 per gram in Karnal, closed at Rs.4,169 per gram, with a high of Rs.4,179 and a low of Rs.3,995. The overall trend for gold during this month was one of an incline with prices going up by 4.35%. Some of the factors that contributed to this incline were continuing fears around the US-China trade war combined with speculation about Covid-19 becoming a pandemic that led to the appeal of precious metals as a safe-haven investment in times of market volatility. The US-Iran conflict also contributed to equities taking a hit which led to more investments in precious metals with prices going up.
- In February, the price of gold at the start of the month was Rs.4,169, which declined to Rs.4,127 in the first week (which was also the lowest for the month) but then again increased to Rs.4,394 by the end of the month, closing at Rs.4,368 (all prices per gram of 24 karat gold). The overall trend for gold during the month of February was a steep incline of 4.77% driven by the impact of the coronavirus pandemic on stock markets and economies around the world, although the World Health Organisation was slow to declare it as a pandemic. The appeal of gold as a safe-haven investment in times of uncertainty continued throughout the month of February as the virus spread to more than 180 countries around the world. The dips were at a time when China’s central bank released a monetary intervention that dimmed the sheen of gold somewhat with the dollar also holding firm. However, prices soon shot back up by the end of the month as investors returned to gold as a safe investment with Asian stocks plummeting due to the coronavirus impact.
- In the month of March, the price of gold started off at Rs.4,274 per gram and ended at Rs.4,253 per gram. There were steep dips and highs throughout the month with the highest price being Rs.4,536 per gram by the end of the first week but quickly plummeting to Rs.4,111 per gram by the end of the third week. Overall, the trend was on a decline of –0.49% throughout the month. This can be attributed to investors choosing the bullion market in an atmosphere of the coronavirus pandemic affecting stock markets across the world. The lockdown by the end of March in nearly every country in the world adversely effected the physical buying of gold with trading also slowing down considerably worldwide.
Gold Rate Trend in Karnal for October 2019 to December 2019 (per gram of 24 karat gold)
|1st Day||Rs.3,864 per gram||Rs.3,938 per gram||Rs.3,906 per gram|
|Last Day||Rs.3,927 per gram||Rs.3,869 per gram||Rs.3,995 per gram|
|Highest Price||Rs.3,953 per gram from 26 October to 29 October||Rs.3,974 per gram on 3 and 4 November||Rs.4,001 per gram on 29 and 30 December|
|Lowest Price||Rs.3,801 per gram on 2 October||Rs.3,869 per gram on 29 and 30 November||Rs.3,848 per gram on 14 December|
Quarterly Gold Rate in Karnal from October 2019 to December 2019:
- In Karnal, the rates of gold showed an upward incline over the month of October. Gold opened the month at Rs.3,864 per gram in the city. Investors shifting to the bullion, increased demand for the metal and uncertainty about the trade deal between Washington and Beijing meant that that gold prices climbed over the month and closed at Rs.3,927 per gram with an incline of 1.63%.
- In the month of November, the gold prices slipped over the month after opening at Rs.3,938 per gram. The drop in the prices was due to the US Federal Reserve announcing a rate cut and there being positive signs about the trade deal between Washington and Beijing. The yellow metal closed the month at Rs.3,869 per gram. There was an overall drop of –1.75% in the performance of the metal.
- The rates of gold showed an upward trend in the month of December. The price of the yellow metal climbed over the month after opening at Rs.3,906 per gram. The increase in the prices was accounted to the impeachment inquiry against the US president and investors shifting to the bullion due to a marginal fall in the value of the dollar. Gold closed the month at Rs.3,995 per gram with an incline of 2.27%.
Gold Rate Trend in Karnal for July 2019 to September 2019 (per gram of 24 karat gold)
|1st Day||Rs.3,486 per gram||Rs.3,581 per gram||Rs.3,959 per gram|
|Last Day||Rs.3,575 per gram||Rs.3,959 per gram||Rs.3,880 per gram|
|Highest Price||Rs.3,612 per gram on 20 July||Rs.3,980 per gram on 28 August||Rs.4,022 per gram on 6 September|
|Lowest Price||Rs.3,444 per gram on 2 July||Rs.3,554 per gram on 2 August||Rs.3,843 per gram on 16 September|
Gold Rate Trend in Karnal for April 2019 to June 2019 (per gram of 24 karat gold)
|1st day||Rs.3,266 per gram||Rs.3,266 per gram||Rs.3,276 per gram|
|Last day||Rs.3,271 per gram||Rs.3,276 per gram||Rs.3,486 per gram|
|Highest price||Rs.3,276 per gram on 28-30 April||Rs.3,313 per gram on 15 May||Rs.3,502 per gram on 25 - 27 June|
|Lowest price||Rs.3,245 per gram from 20-22 April||Rs.3,224 per gram on 24 May||Rs.3,276 per gram on 1 June|
Gold Rate Trend in Karnal for January 2019 to March 2019 (per gram of 24 karat gold)
|1st day||Rs.3,234 per gram||Rs.3,417 per gram||Rs.3,402 per gram|
|Last day||Rs.3,397 per gram||Rs.3,447 per gram||Rs.3,266 per gram|
|Highest price||Rs.3,397 per gram on 31 January||Rs.3,484 per gram on 20 and 21 February||Rs.3,402 per gram on 1 March|
|Lowest price||Rs.3,234 per gram on 1 and 2 January||Rs.3,396 per gram from 13-15 February||Rs.3,239 per gram on 30 March|
Gold Rate Trend in Karnal for January 2019:
- Gold prices in Karnal saw steady growth after opening at Rs.3,234 per gram as a dovish Federal Reserve stance and the ongoing U.S. government shutdown increased the metal’s safe-haven appeal.
- Prices climbed to Rs.3,297 per gram on 11 January as a weak U.S. dollar rate bolstered local retail demand and higher orders from jewellers as gold rates surged to Rs.3,318 per gram on 16 January.
- There was a momentary drop in prices as the precious metal fell to Rs.3,308 per gram on 23 January as equities received a boost but steady local demand helped raise rates to Rs.3,313 per gram on 25 January.
- Despite an end to the shutdown, fears over the economic impact of the Brexit crisis and a possible recession dampened demand for equities as gold rose to Rs.3,344 per gram on 28 January, surging to Rs.3,397 per gram on 31 January.
Gold Rate Trend in Karnal for February 2019:
- Opening marginally lower at Rs.3,392 per gram, gold rates in Karnal recovered on steady local and overseas demand as the metal traded at Rs.3,407 per gram on 7 February.
- Despite rising local demand, a stronger U.S. dollar and worries over trade talks saw gold prices drop to Rs.3,360 per gram on 14 February but a weakening U.S. dollar once again helped raise rates to Rs.3,428 per gram on 19 February.
- Fluctuations in the dollar rate saw prices rise to Rs.3,444 per gram on 22 February but gains were capped as investor interest was low ahead of the Federal Reserve’s policy meeting.
- Positive overseas cues failed to influence local demand as a weak rupee reduced retail and industrial output, resulting in gold prices ending the month at Rs.3,428 per gram.
Gold Rate Trend in Karnal for March 2019:
- Rising stocks and steady global currencies dented bullion appeal as gold prices in Karnal opened at Rs.3,402 per gram before dropping to Rs.3,318 per gram on 6 March.
- Fears of a Brexit fallout and the resultant drop in the U.S. dollar rate buoyed bullion demand but local demand remained stagnant as gold prices dropped further to Rs.3,276 per gram on 16 February.
- A momentary rise in local demand saw prices inch higher but gains remained capped as the U.S. dollar was steady, with the precious metal priced at Rs.3,308 per gram on 24 March.
- Market uncertainty over a possible economic slowdown failed to boost bullion demand, as a gradual dip in overseas and local interest resulted in gold dropping to Rs.3,239 per gram on 30 March before recovering marginally to close the month at Rs.3,266 per gram.
Gold Rate Trend in Karnal for October 2018 to December 2018 (per gram of 24 karat gold)
|1st day||Rs.3,140 per gram||Rs.3,255 per gram||Rs.3,108 per gram|
|Last day||Rs.3,260 per gram||Rs.3,124 per gram||Rs.3,239 per gram|
|Highest price||Rs.3,271 per gram on 25 October||Rs.3,266 per gram on 7 November||Rs.3,260 per gram on 12 and 13 December|
|Lowest price||Rs.3,140 per gram on 1 October||Rs.3,124 per gram on 30 November||Rs.3,108 per gram from 1 to 3 December|
Gold rate trend in Karnal for October 2018
- Gold was priced at Rs.3,140 per gram in Karnal at the beginning of the month and increased due to the strengthening of the rupee against the dollar.
- As the geopolitical tensions were high in this month with the US-China trade war and the ongoing Brexit negotiations, the bullion fared well on the global and local trade.
- The value of the US dollar decreased against other currencies which encouraged investors to invest in the metal.
- The price of gold was the highest on 25 October at Rs.3,271 per gram and closed at Rs.3,260 per gram on the last day of the month.
- Crediting the fluctuating market, gold ended with a percentage incline of 3.82 at the end of the month.
Gold rate trend in Karnal for November 2018
- The month of November was not beneficial for the investors as the demand decreased swiftly due to the dollar recovering against other currencies.
- Gold opened the month at Rs.3,255 per gram, rising to reach its monthly high rate of Rs.3,266 per gram within the first week of the month.
- However, post that, the price of the metal declined rapidly as the international markets recovered substantially and demand decreased. This made it expensive for the importers of the metal.
- At the month end, the price of gold closed at Rs.3,124 per gram resulting in an incline of 4.02%.
Gold rate trend in Karnal for December 2018
- In December, investors were benefited to a great extent after a turbulent previous month. The major reason for the increased demand was the poor performance of the market. This led to a decrease in the value of the dollar.
- The price of the metal at the beginning of the month was Rs.3,108 per gram which was the lowest in December. However, through the month, it went up due to global political trends such as the US-China trade truce, leading to poor markets.
- On 12 and 13 December, gold was trading at the highest at Rs.3,260 per gram.
- At the end of the month, gold trading recorded a percentage incline of 4.21 as the demand increased ahead of the wedding season in the country.
Gold Rate Trend in Karnal for July 2018 to September 2018 (per gram of 24 karat gold)
|1st day||Rs.3,124 per gram||Rs.3,050 per gram||Rs.3,103 per gram|
|Last day||Rs.3,056 per gram||Rs.3,092 per gram||Rs.3,140 per gram|
|Highest price||Rs.3,140 per gram on 7 July||Rs.3,092 per gram on 31 August||Rs.3,155 per gram on 26 and 27 September|
|Lowest price||Rs.3,056 per gram on 19 and 31 July||Rs.3,003 per gram from 17 to 19 August||Rs.3,082 per gram on 4 September|
Gold rate trend In Karnal for July 2018
- The gold price in Karnal 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 Karnal 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 Karnal.
- However, in the following 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 plunge in the city.
- Gold in Karnal was priced at its lowest on 19 July, and again on 31 July at Rs.3,056 per gram due to the poor trend overseas.
- Gold rates could not recover throughout the month and recorded a decline of 2.17%.
Gold rate trend In Karnal for August 2018
- On 1 August, the precious 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 Karnal.
- 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 Karnal.
- The trend of gold rates in the city inclined by 1.37% for the month of August.
Gold Rate Trend in Karnal for September 2018
- Gold rates in Karnal gained during the course of the month, with the yellow metal opening trading at Rs.3,103 per gram amid an increase in local demand.
- Despite the decline in the exchange rate of the Indian currency, there was an incline in demand for gold from jewellers ahead of the festive season prompting gold prices to rise.
- Demand for the precious metal in the international market fluctuated due to a volatile market during Brexit negotiations coupled with Italy’s budgetary crisis influencing the interest in bullion as a safe-haven asset.
- Gold touched a monthly high of Rs.3,155 per gram on 26 and 27 September influenced by the increase in industrial demand.
Gold Rate Trend in Karnal for April 2018 to June 2018
Rs.3,140 per gram
Rs.3,192 per gram
Rs.3,187 per gram
Rs.3,208 per gram
Rs.3,187 per gram
Rs.3,119 per gram
Rs.3,224 per gram on 20 April
Rs.3,234 per gram on 14 May
Rs.3,192 per gram on 16 June
Rs.3,129 per gram on 7 April
Rs.3,171 per gram on 18 May
Rs.3,119 per gram on 30 June
Overall Monthly Performance
Gold Rate Trend in Karnal for April 2018:
- Trading opened for the month with gold price in Karnal holding at Rs.3,140 per gram on the 1st with domestic market pressurised by the strong US dollar and equities.
- Prices dropped to a monthly low of Rs.3,129 per gram on the 7th with poor local demand from industries, jewellers and retailers amid the weak trend overseas.
- The 20th witnessed gold rate in Karnal rising to a monthly high figure of Rs.3,224 per gram after the US dollar lost against a basket of other major currencies at the international level.
- The month ended with gold priced at Rs.3,208 per gram on the 30th, registering a profit of 2.16% in bullion trade during the course of the month.
Gold Rate Trend in Karnal for May 2018:
- The second month of the quarter commenced with gold trading at Rs.3,192 per gram on the 1st with subdued but steady demand from local industries and jewellers.
- The 14th saw gold price in Karnal rising to a monthly high of Rs.3,234 per gram on the 14th with the bullion market capitalising on the weakened US dollar and stock markets.
- However, with the US dollar regaining lost ground, rates dropped to Rs.3,171 per gram on the 18th amid the poor trend overseas.
- Trading concluded for the month with gold priced at Rs.3,187 per gram on the 31st and Karnal registered a drop of 0.15% in gold rates during the course of the month.
Gold Rate Trend in Karnal for June 2018:
- The month began with gold rate in Karnal holding at Rs.3,187 per gram on the 1st amid poor overseas trends.
- However, with the US dollar losing against other apex currencies amid market speculations ahead of the G7 summit, demand for the metal surged and gold was recorded trading at Rs.3.192 per gram on the 16th.
- The month came to an end with the gold price in Karnal closing at Rs.3,119 per gram - the lowest recorded monthly figure - on the 30th.
- Gold rates dropped by 2.13% on account of the poor market trends that pushed demand lower during the month.
Gold Rate Trend in Karnal for January 2018 to March 2018 (per gram of 24 karat gold)
Rs.3,010 per gram
Rs.3,077 per gram
Rs.3,113 per gram
Rs.3,066 per gram
Rs.3,129 per gram
Rs.3,134 per gram
Rs.3,120 per gram on 24 & 25 January
Rs.3,161 per gram on 18 & 19 February
Rs.3,171 per gram on 25 & 26 March
Rs.3,010 per gram from 1-3 January
Rs.3,035 per gram on 9 February
Rs.3,098 per gram on 19 & 20 March
Gold Rate Trend in Karnal for January 2018
- The gold price in Karnal on 1st January stood at Rs.3,010 per gram - its lowest rate for the month, which continued for three consecutive days.
- Demand for the precious metal grew by the end of first week amid a weak dollar, which led to a spike in gold rates across the country.
- The US dollar, regarded as the base currency for exchange rate over other currencies, was impacted by an underperforming US market and policy measures taken by the Donald Trump administration.
- With the demand continuing to increase, gold prices continued to spiral upwards during the third and fourth week as well.
- Gold price in Karnal recorded its highest rate for the month at Rs.3,120 per gram on the 24th and 25th of the month.
- However, the last week witnessed a drop in gold prices due to a steady demand for the metal.
- The gold rate on the last day of the month stood at Rs.3,066 per gram, an increase attributed to the rising demand for gold.
- Overall, the trend in the gold price in Karnal during the month of January 2018 inclined by 1.19%. The upward trend is attributed to the increase in demand for the precious metal.
Gold Rate Trend in Karnal for February 2018
- Price for a gram of gold in Karnal began trading at Rs.3,077 on the 1st of the month, a hike of Rs.10 per gram compared to the previous day.
- Gold rates continued to increase briefly before it began to decline from the 6th onwards, recording its lowest price on the 9th at Rs.3,035 per gram.
- The drop in the gold price is in sync with the decline in demand as well as due to a stronger US dollar over the INR.
- However, during the third week gold prices began to increase due to the wedding season which saw the demand for gold rising to its highest on the 18th and 19th of the month.
- February’s highest gold price in Karnal stood at Rs.3,161 per gram attributed to stronger global cues.
- By the end of the month, the price for a gram of gold dropped to Rs.3,129 on the 28th of the month.
- The gold rate trend in Karnal for February 2018 reflected a change of 1.68%, mainly influenced by the rising demand as well as a stronger US dollar.
Gold Rate Trend in Karnal for March 2018
- Gold began trading at Rs.3,113 in March 2018, declining by Rs.16 per gram over the previous day’s rate.
- Gold continued to decline in the first and second weeks recording its lowest price at Rs.3,098 per gram on the 19th and 20th of the month.
- The decline in gold rates was in tandem with the stable US dollar as well as due to the decrease in demand for the precious metal.
- However, gold rate spiralled upwards in the fourth week touching its highest price at Rs.3,171 per gram on the 25th and the 26th of March.
- Amid a stable dollar and lower demand for gold, the price for a gram of the precious metal on the last day of the month stood at Rs.3,134.
- The gold rate trend in Karnal for the month of March 2018 inclined by 0.67% largely due to the stronger demand for the metal during the last week of the month.
Gold Rate Trend in Karnal 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 Karnal for October 2017:
- Gold rates in Karnal were recorded at Rs.3,063 per gram when trading began for the month of October.
- This, however, dropped down to as low as Rs.3,028 per gram by the 6th as the equities market remained steady.
- Demand for the precious metal remained largely weak throughout this month due to a strong dollar. Even the busy Dhanteras season failed to stimulate positive changes in the city.
- Prices seemed to be on the decline towards the end of the month as local demand saw little signs of recuperating.
- Gold price in Karnal were, in fact, at their lowest this month between the 27th and the 31st when the metal traded at Rs.3,026 per gram.
- A poor domestic demand led to gold price trends falling by 1.20% for this month.
Gold Rate Trend in Karnal for November 2017:
- Gold price in Karnal had dropped to Rs.3,006 per gram when trading began for the month of November, which was the lowest rate recorded the entire month.
- But, with positive global cues gold rates in Karnal seemed to increase over the subsequent days hitting the Rs.3,045 per gram mark by the 10th of the month.
- As the US dollar remained weak and as local demand surged, gold rates reached the Rs.3,060 per gram margin on 18th November.
- This also happened to be the highest rate for the month, made possible by a failing US dollar and an increased festive season demand.
- However, the greenback recuperated to push gold rate in Karnal down over the remaining days of the month.
- When the month ended, the yellow metal was priced at Rs.3,026 per gram and there was a 0.66% incline in price trends recorded over the course of the month.
Gold Rate Trend in Karnal for December 2017:
- December’s trading also yielded positive results in terms of sales figures.
- On the 1st of December, the yellow metal was priced at Rs.3,016 per gram, which then rose to Rs.3,036 per gram on the 2nd before continuing till the 4th of the month.
- This sharp increase was due to a weak US dollar performance compounded by some poor policies from US president Donald Trump.
- Gold prices underwent a lot of fluctuations over the course of the month before consolidating to end at Rs.3,020 per gram.
Gold Rate Trend in Karnal for July 2017 to September 2017 (per gram of 24 karat gold)
|1st day||Rs.2,950 per gram||Rs.2,931 per gram||Rs.2,997 per gram|
|Last day||Rs.2,920 per gram||Rs.2,965 per gram||Rs.3,040 per gram|
|Highest price||Rs.2,950 per gram on 1 July||Rs.2,980 per gram on 29 August||Rs.3,100 per gram on 8 September|
|Lowest price||Rs.2,800 per gram on 14 July||Rs.2,900 per gram from 5 to 8 August||Rs.2,997 per gram on 1 September|
Gold rate trend in Karnal for July 2017
- In Karnal, the precious metal was recorded trading at Rs.2,992 per gram, when trading commenced for the month of July.
- Demand for the metal for dropped over the next few days, resulting in prices declining to Rs.2,902 per gram on the 8th.
- The release of the US employment data resulted in a significant decline in global demand. This led to gold rates in Karnal plunging to Rs.2,843 per gram on the 12th.
- Prices rose gradually over the next few days as Asian demand increased with the downfall of the US dollar, and gold was trading at Rs.2,908 per gram on the 21st.
- With investors capitalising on the weak dollar value, gold rates in Karnal surged to Rs.2,950 per gram on the 26th.
- The US economy tanked with geopolitical tensions rising in the Korean peninsula. This led to a rise in safe-haven investments around the world, and the yellow metal prices rising to Rs.2,955 per gram on the 29th.
- Demand dropped marginally towards the end of the month, and gold was priced at Rs.2,950 per gram on the 31st.
Gold rate trend in Karnal for August 2017
- When trading commenced for the month of August, the yellow metal was recorded trading at Rs.2,960 per gram on the 1st.
- The continued aggression between the US and North Korea pushed demand higher for the precious metal. This led to gold prices surging to Rs.2,974 per gram on the 10th.
- The international equities markets tanked as the US dollar collapsed, and gold rates in Karnal rose further to Rs.2,999 per kg on the 11th.
- Steady local, as well as, global demand resulted in gold trading at Rs.2,982 per gram on the 19th and the 20th.
- The stand-off between the US and North Korea resulted in the US economy collapsing, pushing prices higher to Rs.2,992 per gram on the 24th.
- Equity markets took a hit with the US-North Korea conflicts worsening. This resulted in an increased demand for the bullion, and the yellow metal was recorded trading at Rs.3,017 per gram on the 28th.
- However, the dollar improved over the next few days, pushing gold rates lower. When trading concluded for the month, gold was trading at Rs.2,999 per gram on the 31st.
Gold rate trend in Karnal for September 2017
- The precious metal was priced at Rs.3,024 per gram, when the month began in Karnal.
- Safe-haven investments surged globally with North Korea having confirmed its successful two-stage thermonuclear weapon test. This resulted in gold rates surging to Rs.3,130 per gram - the highest recorded monthly figure - on the 8th.
- However, demand declined with the strengthening of dollar over the next few days, and the metal was trading at Rs.3,085 per gram on the 12th.
- With the dollar gaining against other apex currencies, demand declined further, pushing prices down to Rs.3,056 per gram on the 19th.
- Local demand spurred on the 26th with the arrival of Dussehra pushing sales higher. This led to gold rates in Karnal surging to Rs.3,063 per gram.
- Demand dropped over the next few days as the dollar recovered with the possibility of a new Fed rate hike. This resulted in gold trading at Rs.3,063 per gram on the 30th.
Gold Rate Trend in Karnal 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 from 15 to 16 April||Rs.3,011 per gram from 1 to 2 May||Rs.3,057 per gram on 7 June|
|Lowest price||Rs.2,983 from 8 to 10 April||Rs.2,918 from 11 to 15 May||Rs.2,972 per gram on 27 June|
Gold rate trend for Karnal in April 2017
- In Karnal, gold traded a bit cautiously on the first day of the month at Rs.2,991 per gram. The price remained stable for the first three days of the month due to US economic data and Federal Reserve developments.
- After a stable beginning, the price of gold inched up on April 4 to Rs.3,003 per gram as geopolitical tensions and safe-haven buying influenced the trend.
- The price of gold in Karnal fell on April 8 to Rs.2,983 per gram, falling to its lowest in the month of April. The price remained the same from April 8 to 10. This was due to the rise in the US Dollar rate.
- Post April 10, the price of the sought after metal inched up, influenced by various factors such as the rising geopolitical tensions surrounding North Korea and Syria.
- The price climbed up from Rs.2,983 on April 10 to Rs.3,036 per gram on April 12. The gold rate price in Karnal came down again the next day reaching Rs.3,016 per gram.
- Gold reached it’s highest in the month on 15 and 16 of April, with prices peaking at 3,068 per gram.
- During the course of the next few days, the price of gold went up and down. On April 19, the price stood at Rs.3,057 per gram.
- The price of the precious metal remained stable for the next two days as the rupee appreciated, giving consumers the opportunity to buy more gold.
- As the month came to end, the prices dipped.There was a declining trend in the last month of April due to the French presidential election even as safe-haven demand continued in the wake of geopolitical tensions.
- However, despite this, the price of gold inclined on an overall basis by 0.66%.
Gold rate trend for Karnal in May 2017
- Gold traded on a high note on the first two days of the month. The price stood at Rs.3,011 per gram in Karnal from May 1 to 2. This was the highest price of gold during the course of the month.
- The gold price in Karnal dipped to Rs.2,982 per gram on May 3 due to bullish stocks and a rise in the US Dollar rate.
- Prices dwindled again on May 4, reaching Rs.2,952 per gram. The price was stable till May 7.
- As the Euro gained and Emmanuel Macron won the presidential election in France the price of gold fell to Rs.2,942 per gram.
- Prices dwindled down in the next few days, reaching Rs.2,918 per gram on May 11. This was the lowest in the month and the price remained the same till May 15.
- On May 16, the price of gold went up to Rs.2,923 per gram as the US Dollar rate fell, adding to this was weak US manufacturing data. Prices continuously increased and reached Rs.2,991 per gram on May 18.
- However, the price came down again on May 19 to Rs.2,977 per gram as the US dollar gained and geopolitical tensions surrounding the US President Donald Trump prevailed.
- The price remained stable at Rs.2,977 per gram till May 25. This trend is attributed to the bullish trends in the Asian stock market, the blast in Manchester and other geopolitical developments.
- During the last week, the price rose to Rs.2,992 per gram. The price stood like this from May 26 to May 30.
- In Karnal, there was an overall decline in the price of gold by -0.63% in May.
Gold rate trend for Karnal in June 2017
- Gold traded at Rs.3,012 per gram on the first day on the month. The price remained the same on June 2.
- The price of gold inched up on June 3 to 3,022 per gram in Karnal due to the weakening of the US Dollar and the Asian stock markets.
- The price of gold reached its highest in the month at Rs.3,057 per gram on 7 June as demand rose during the first week of June.
- The price of gold went down to Rs.3,017 per gram on June 9 and further dwindled to Rs.3,007 per gram on June 10. The price remained the same till June 15.
- Post June 15, prices came down as many traders found it difficult to import gold to the forthcoming introduction of a new tax regime.
- Towards June 19, the price of gold further went down and stood at Rs.2,982 per gram due to US economic data figured which were lesser than expectations.
- The price of gold reached its lowest in the month to Rs.2,972 per gram on 27 June.
- Overall, there was a decline in the price of gold in June by -0.66%.
Gold Rate Trend in Karnal 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 for Karnal in January 2017
- On the 1st of January, gold opened at Rs.2,844 per gram and stayed steady at this rate until the 3rd of the month.
- Thanks to healthy 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.
- This rate was noted on the 25th of January as well.
- 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 Karnal 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 the month, the rate of gold reduced due to a fall in the demand for this metal.
- This rate was steady until the 6th of February post which the rate of gold increased again.
- Due to sustained demand noted in both domestic as well as international 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.
- This precious metal 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 Karnal by trading at Rs.3,020 per gram recording an incline of 1.41% in the rate of gold.
Gold Rate Trend for Karnal in March 2017
- This precious metal traded at Rs.3,009 per gram on the 1st of March and stayed at this rate until the 2nd as well
- However, the rate 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.
- A marginal recovery was noted in the rate of gold hereafter however.
- Gold traded at Rs.3,003 per gram from the 22nd of March till the 23rd before falling to Rs.2,993 per gram on the 24th of March. Gold was steady at this rate until the 26th after which, due to a high demand for this metal, increased to trade at Rs.3,003 per gram from the 27th of March till the 30th of March.
- As the month came to an end, gold traded at Rs.2,991 per gram recording a decline of 0.59% in the price of gold.
|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 to 4th||Rs.3,213 per gram on 5th and 6th||Rs.2,893 per gram on 1st and 2nd|
|Lowest price||Rs.3,088 per gram from 8th to 25th||Rs.2,929 per gram from 25th to 27th||Rs.2,800 per gram from 23rd to 28th|
Gold Rate Trend in Karnal for October 2016
- In October, Karnal seemed to enjoy quite a good period with regards to gold rates as there wasn’t too many fluctuations.
- The 1st began with gold prices standing at Rs.3,205 per gram, the highest rate for the month.
- However, prices went down to Rs.3,119 per gram - as a decrease of Rs.86 per gram was seen within a span of 3 days.
- Prices seemed to go down again on 6th As prices hit Rs.3,088 per gram and remained much the same till the 25th of the month.
- The last week of October saw prices increase to Rs.3,099 per gram and continued at the same rate till the end of the month.
- Overall, gold price trends in Karnal saw a change of -3.307% for the month of October.
Gold Rate Trend in Karnal for November 2016
- November began in Karnal with gold trading at Rs.3,099 per gram and increased during the subsequent days as global demand soared.
- However, the increase during the first week seemed to be a red herring of sorts as the second week began with the government cancelling Rs.500 and Rs.1,000 notes.
- Prices seemed to soar for the first few days as people began buying more gold and hence hit the highest rate of Rs.3,213 per gram during the 5th and 6th.
- The government made PAN card compulsory for heavy gold purchases, which again led to demand crashing down for much of the month.
- As the month drew to a close, gold prices seemed to pick up slightly but couldn’t hit a positive note as cash flow issues came in the way.
- For the second month in a row, gold prices seemed to be on a decline.
- All in all, Karnal saw gold rates change by a massive -5.09%.
Gold Rate Trend in Karnal for December 2016
- The final month of the quarter and year was better for gold rates as the decline wasn’t as bad as it was during the previous two months.
- Demonetisation still seemed to be stopping gold sales as cash liquidity issued dogged the entire nation.
- The 1st of the month began with gold trending at Rs.2,893 per gram and decreased to hit Rs.2,864 by the 10th.
- Prices seemed to go further down over the next 10 days as gold was trading at Rs.2,822 per gram around the 20th.
- Although Christmas didn’t bring any positive sales, New Year seemed to create a bit of magic as gold prices increased.
- Overall, Karnal saw a gold rate changed by -1.69% in December.
- On average, gold prices seemed to change by -3.36% for the quarter between October and 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 August and 10th August||Rs.3,228 per gram from 7th September to 12th September|
|Lowest price||Rs.3,167 per gram on 1st 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 Karnal in July 2016
- Gold traded at Rs.3,167 per gram on 1st July.
- Prices rose slightly on the 2nd and remained stable at Rs.3,203 until the 4th after which fluctuations were recorded over the next two days.
- Prices remained constant at Rs.3,227 from the 7th to the 9th of the month thanks to firming trends making it the highest rate in July.
- Consistent declines over the next three days saw prices drop and remain stable at Rs.3,199 between the 13th and 21st of July.
- Prices rose gradually until the end of July and the precious metal closed the month at Rs.3,249 per gram.
- The overall increase in price over the course of the month was 1.64%.
Gold Rate Trend of Karnal in August 2016
- The rate of gold per gram on the 1stt of August was recorded at Rs.3,219 and remained stable until the 3rd of the month.
- Fluctuations over the next three days saw prices settle at Rs.3,206 on the 6th, remaining constant until the 9th.
- Fluctuations ensued over the next week before gaining stability at Rs.3,238 from the 18th to the 24th.
- Declines on the next two days as well meant that prices would settle at Rs.3,205 from the 26th to the 31st of August.
- Overall, prices declined by 0.43% between the start and end of August.
Gold rate trend of Karnal in September 2016
- Gold traded at Rs.3,184 per gram on 1st and 2nd September, which was the lowest rate for this month.
- Prices rose and remained constant from 3rd to 5th September at Rs.3,195.
- Prices fell consistently during September and remained stable for short periods before fluctuating again.
- Prices remained constant from the 22nd until the 28th at Rs.3,227 and closed September at Rs.3,217 per gram.
|1st day||Rs. 2,943 per gram||Rs. 3,119 per gram||Rs.2,991 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, 2016||Rs. 3,120 per gram from 7th-9th May, 2016||Rs.3,182 per gram on 28th and 29th June|
|Lowest price||Rs. 2,943 per gram from 1st-4th April, 2016||Rs. 2,960 per gram from 28th-31st May, 2016||Rs.2,950 per gram from 2nd June to 5th June|
|Trend||Prices rose marginally||Prices fell||Rising|
|Change||+5.98% increase||- 5.09% decrease||+7.86%|
Gold Rate Trend in Karnal in April 2016
- April saw a marginal increase at the start of the month compared to the previous month with gold trading at Rs. 2,943.
- Demand soared with rates increasing after the jeweller’s strike was called off.
- Prices fluctuated through the month with demand dropping internationally.
- Rates finally increased again marking an overall increase of 5.98% for the month with gold trading at Rs. 3,119 per gram.
Gold Rate Trend in Karnal in May 2016
- Continuing the trend from April, going into May, gold traded at the same steady rate of Rs. 3,119 per gram.
- Gold rates seemed spooked by the increased speculation of an interest rate hike by the U.S. Federal Reserve.
- Rates dropped with a declining trend continuing through the month.
- Domestic demand was not able to cover the global market trends.
- The month closed with gold trading at Rs. 2,960, a decline of 5.09%.
Gold Rate Trend of Karnal in June 2016
- A steady increase in gold prices was recorded in the month of June thanks to stronger overseas trends in addition to increase in industrial demand.
- Despite marginal declines on certain days of the month, the value of the precious metal increased consistently as the month progressed, and the highest rate in June was recorded on the 28th and 29th when prices soared to Rs.3,182.
- The overall increase in prices between the first and last day of the month was Rs.176.
|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 January||Rs. 3,049 per gram on 26th February||Rs. 3,030 per gram from 1st to 14th March|
|Lowest price||Rs. 2,580 per gram from 2nd to 4th January||Rs. 2,756 per gram on 1st February||Rs. 2,940 per gram from 15th to 17th March|
|Trend||Prices Increased||Prices Increased||Prices Decreased|
Gold Rate Trend in Karnal in January 2016
- Gold rates were at Rs. 2,585 for a gram on January 1st, 2016.
- Increase in demand by jewellers in the domestic market set a trend of incline in the second week.
- With the wedding season blooming, demand increased further raising gold prices.
- The last week of January saw a slight decline with prices dropping to Rs. 2,756 per gram
Gold Rate Trend in Karnal in February 2016
- February gold rates started at Rs. 2,756.
- Due to global demand, prices remained relatively steady.
- Rates increased marking the highest at Rs. 3,049 per gram on 26th February.
- The overall increase for the month was 10.29% indicating a growing trend and increased demand.
Gold Rate Trend in Karnal in March 2016
- Gold traded at Rs. 3,030 at the start of the month, and stayed steady for two weeks.
- Demand fell nationwide due to the jewellers’ strike which lasted a month.
- The constant prices can be attributed to the strike.
- The final week of March saw a declining trend ending at Rs. 2,948 per gram.
Gold demand in Karnal
There are no reliable figures available to tell us the quantum of demand for gold in Karnal. However, a quick look at the gold jewellery showrooms in the city reveals that the appetite for gold in Karnal is high. National brands such as Tanishq and Gitanjali have their outlets in Karnal. Apart from them, there are over 50 medium-to-small jewellers running brisk business in the city. Since Karnal city is the district headquarters, people from the rural areas and the nearby towns also flock to the city to buy their ornaments.
Gold investment in Karnal
The people of Karnal invest in gold in two major forms:
Over-the-counter: An average Indian’s idea of investment in gold is to buy jewellery and sell it off or pawn it for loans when in need of money. Karnal is no different from other cities in following this trend. The number of jewellers and pawnbrokers in the city cater to this trend.
Market trade: Other gold-related investment options such as gold coins and bars, gold exchange traded funds (Gold ETF), e-gold and sovereign gold bonds are also exercised by the people of Karnal. These modes may not be popular yet, but those trading in stocks and bonds are slowly becoming favourable towards paper gold.
- Also Check: Gold Rate in Haryana
Also Check Gold Price in NearBy Cities of Karnal
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