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Gold Rate in KeralaWhy to Buy Gold on Dhanteras
According to a Times of India article published in December, 2014,3 gold loan companies together hold around 200 tonnes of the yellow metal in the form of jewelry. This equation is higher than gold reserves of Sweden, Singapore and Australia. This means the that gold rates in Kerala hold very high importance in the global market for the metal and not just in India. Kerala is a state which is a great marketplace for gold investors and buyers alike. Also, jewelry made out of the precious metal is treated as wealth and a form of financial security at the same time.
According to a business portal, Commodity Online, the state contributes for more than 20% of the gold in India’s annual consumption. It is also said that over 5000 jewelers and metal retailers thrive here with over 40,000 people involved as artisans for gold jewellery in Kerala. Gold rates in Kerala, hence is very important for determining the future rates of gold in the country too as the demand is quite high established with the fact the business in gold thrives here.
Trend of Gold Rate in Kerala for October 2016 (rates per gram for 24karat gold)
October '16 - Week 1 (1st to 7th)
- Trends in the global market didn’t deter buyers in Kerala.
- Gold traded steadily at Rs.3,115 per gram from 1st to 5th October.
- The impact of a rising dollar was felt on 5th OCtober when prices start dropping.
- By the end of the week, prices had fallen to Rs.3,040 per gram.
- Jewellers expect festive demand to pick up soon but feel people are reluctant to buy gold in cash in light of stricter tax laws.
Trend of Gold Rate in Kerala for September 2016 (rates per gram for 24karat gold)
|1st September rate||Rs.3,130 per gram|
|30th September rate||Rs.3,135 per gram|
|Highest rate in September||Rs.3,160 per gram on 25th to 26th September|
|Lowest rate in September||Rs.3,120 per gram on 2nd and 19th September|
September '16 - Week 1 and 2 (1st to 10th)
- Gold traded at Rs.3,130 per gram on 1st September.
- Prices dropped on account of slower demand but was quick to rise by 7th September when gold traded at Rs.3,160 per gram, the highest for the week.
- By the end of the week, gold stabilised at Rs.3,145 per gram.
September '16 - Week 3 (11th to 17th)
- Gold prices in Kerala were relatively stable with a slight dip in prices on 15th September.
- Sustained demand in the domestic market allowed gold rates to traded at a constant pace.
- Gold traded at Rs.3,145 per gram on 11th to 14th September.
- Prices dropped to Rs.3,135 per gram on 15th September and remained the same till the end of the week.
September '16 - Week 4 (18th to 24th)
- Gold traded at Rs.3,135 per gram on 18th September.
- Despite upbeat market trends indicating a bullish atmosphere, gold prices slipped to Rs.3,120 per gram on 19th September.
- Prices rose again to Rs.3,130 per gram on 20th September and remained unchanged till the end of the week.
- Domestic demand was high from retailers and stockists this week.
September '16 - Week 5 (25th to 30th)
- Gold prices dipped this week on account of a strong dollar.
- The Fed rate hike has been stalled for the time being as the U.S. presidential elections are in motion.
- Gold traded at Rs.3,160 per gram on 25th and 26th September, which was the highest price for the month.
- Gold started gradually declining and settled at Rs.3,135 per gram on 29th and 20th September.
- Demand in the domestic market was not strong enough to take on the global trends.
|1st July rate||Rs.3,092 per gram|
|31st July rate||Rs.3,130 per gram|
|Highest rate in July||Rs.3,092 per gram on 1st August|
|Lowest rate in July||Rs.3,140 per gram on 26th to 30th August|
August '16 - Week 1 (1st to 7th)
- Gold prices remained stable during the week, rising at the weekend before dipping slightly.
- Gold traded at Rs.3,092 per gram on the 1st and at Rs.3,095 on the 7th of August.
- The low U.S. Dollar led to increased demand both domestically and overseas.
- Data showing steady economic growth in the non-farm sector pushed markets up, lowering gold demand at the end of the week.
August '16 - Week 2 (8th-14th)
- Gold rates were relatively constant through the week.
- Gold traded at Rs.3,095 per gram for majority of the week ignoring global trends.
- Gold rose to Rs.3,125 per gram on 13th August owing to higher demand in the domestic market as well as global trends that was indicative of the fact that the U.S. Fed rate hike may not happen this year.
August '16 - Week 3 (15th-21st)
- Prices of gold for the third week of August were relatively stable.
- Gold traded at Rs.3,125 per gram on 15th of August.
- Gold jumped up by Rs.10 trading at Rs.3,135 per gram on 16th August.
- Sustained demand in the domestic market helped prices stay constant through the week.
August '16 - Week 4 (22nd-28th)
- Gold prices remained stable through the week.
- Gold rates in Kerala seemed to be unaffected by the global market as the strong dollar led to a drop in prices around the world.
- Gold traded at Rs.3,135 per gram at the beginning of the week and climbed to Rs.3,140 per gram by the end of the week.
- The incline in prices are a result of increased domestic demand as the festive season approaches.
August '16 - Week 5 (29th-31st)
- Gold continued the stable trend from the previous week trading at Rs.3,140 per gram at the beginning of the week.
- Gold rates dropped to Rs.3,130 per gram as the dollar gained strength.
- The U.S. Federal Reserve rate hike might be put in place in the month of September.
|1st July rate||Rs. 3,000 per gram|
|31st July rate||Rs. 3,092 per gram|
|Highest rate in July||Rs. 3,167 per gram July 16 and 17|
|Lowest rate in July||Rs. 3,000 per gram on July 30|
July'16 - Week 1 and 2 (1st to 10th)
- Prices soared in July in the state of Kerala trading at Rs.3,000 on July 1st.
- Prices were rising and falling through the week but became more stable by July 7th.
- Gold traded constantly at Rs.3,055 till the end of the week.
- The Brexit vote and domestic trends worked in favor of gold rates.
July'16 - Week 3 (11th to 17th)
- Prices rose during the week, with a minor drop in prices recorded during the middle of the week. However, prices recovered as the week ended.
- Prices were recorded at Rs.2,055 per gram on the first day of the week and Rs.2,167 per gram on the last day of the week.
- In spite of marginal losses during the middle of the week, the price rose thanks to an increase in global and domestic demand, resulting in the difference in rates between the first and last days being Rs.112.
July '16 - Week 4 (18th to 24th)
- Gold traded at a relatively stable pace in Kerala this week.
- Global trends led to a weaker market but gold is still viewed as a safe-haven investment and demand remained quite stable.
- Slight fluctuations were seen with the lowest price recorded on 21st july at Rs.3,041.
- The highest price followed soon after and gold traded at Rs.3,070 on 22nd July.
July‘16 - Week 5 (25th to 31st)
- Gold rates remained constant between the 25th and 27th of July, at Rs.3,060.
- An increase of Rs.32 on the 28th of the month saw prices climb to Rs.3,092, and the remained unchanged until the end of the month, thus closing at the aforementioned rate.
|1st June rate||Rs.2,895|
|30th June rate||Rs.2,990|
|Highest rate in June||Rs.3,050 from 25th to 28th of June|
|Lowest rate in June||Rs.2,935 on 10th of June|
Jun'16 - Week 1 (1st to 5th)
- Gold traded on a steady path in Kerala in the beginning of June.
- Prices of gold were at Rs. 2,895 and did not change at all.
- The Kerala gold prices seemed to be unaffected by the situation in the domestic market as well as the international market.
- Stable demand allowed prices of gold to stay steady.
Jun'16 - Week 2 (6th to 12th)
- Gold traded at Rs.2,895 per gram for the first three days of the week till 8th of June.
- Gold prices rose up to Rs. 2,935 per gram on the 9th of June and stayed the same for the next one day.
- Gold closed the week at Rs. 2,955 on the 12th of June.
Jun'16 - Week 3 (13th to 19th)
- Gold traded at Rs. 2,740 per gram on the 13th of June.
- The price rose to Rs. 2,755 per gram on the 15th of June.
- Gold rate climbed higher as the week progressed and hit its highest for the week on the 16th of June at Rs. 2,770 per gram and held steady till the end of the week.
Jun'16 - Week 4 (20th to 26th)
- As the month progressed, there was a steady increase in the price of gold and was relatively steady with a few minor variations.
- At the beginning of the week, the price of gold was Rs. 2,975 per gram and towards the end of the week, the price had risen to Rs. 3,050 per gram which was also the highest for the week.
- Gold prices in Kerala seems to be quite steady and unaffected by global trends or decline.
Jun'16 - Week 5 (27th to 30th)
- Prices fluctuated during the four days but the presence of strong domestic and international cues ensured that changes were not drastic.
- Prices were recorded at Rs.3,050 on the 27th of June and Rs.2,990 on the 30th of June.
- Prices decreased by just Rs.60 between the 27th and 30th of June.
|1st May rate||Rs. 3,025 per gram|
|31st May rate||Rs. 2,895 per gram|
|Highest rate in May||Rs. 3,025 per gram May 1|
|Lowest rate in May||Rs. 2,885 per gram on May 30|
May'16 - Week 1 (1st to 7th)
- Prices remained stable throughout the week after gaining slightly on Tuesday.
- Prices were recorded at Rs.3,025 on the 1st of May and Rs.3,014 on the 7th of May.
- With a marginal increase on Tuesday, prices remained the same for the rest of the week with no change whatsoever.
May ‘16 - Week 2 (8th to 14th)
- Prices fluctuated during the week, first dropping before picking up again towards the end of the seven-day period.
- Prices were recorded at Rs.3,014 on the 8th of May and Rs.2,998 on the 14th of May.
- With a marginal decline on Tuesday, prices rose again on Thursday before declining on Friday and rising again on Saturday
May ‘16 - Week 3 (15th to 21st)
- Prices fluctuated during the third week of the month, first remaining stable for the first two days before picking up marginally on the following two days and declining again to remain constant for the remainder of the seven-day period.
- Prices were recorded at Rs.2,998 on the 15th of May and Rs.2,985 on the 21st of May.
- Despite marginal losses on Tuesday and Thursday, the decline in prices over the course of the week was only Rs.13 thanks to firming international and domestic trends in addition to an increase in industrial demand.
May ‘16 - Week 4 (22nd to 28th)
- In Kerala, the gold rates declined at a steady pace. The week started out being constant and ended with a lower but constant rate.
- Prices were recorded at Rs. 2,985 on the 22nd of May and Rs. 2,937 on the 28th of May .
- Prices started dropping on 25th May, and dropped further on 26th May. The rates then stayed steady till the end of the week with global trends having minimal effects.
May ‘16 - Week 5 (29th to 31st)
- Due to steady demand, there were minor gold fluctuations recorded in the month of May.
- On the final day of the month, gold traded at Rs. 2,895 per gram which was lower than the price on 29th May, which was Rs. 2,937 per gram.
- Gold rates in Kerala have a significant impact in the market globally.
|1st April rate||Rs 2,872|
|30th April rate||Rs 3,025|
|Highest rate in April||Rs 3,025 on 30th|
|Lowest rate in April||Rs 2,852 on 4th|
|% Change||+ 5.32%|
Apr'16 - Weeks 1 & 2 (1st to 10th)
- Gold prices appreciated in Kerala over the first two weeks of the month as global cues and domestic demand helped spur rates.
- Prices were Rs.2,863 on 1st and Rs.2,890 on 10th.
- Gold posted positive trends for the most part, and registered cumulative gains of Rs.37 during the time period.
Apr ‘16 - Week 3 (11th to 17th)
- Gold prices were down by Rs.6 in third week’s trading.
- Prices were Rs.2,911 on 11th and Rs.2,905 on 17th.
- Gold prices saw low fluctuations as global stabilizing of rates helped keep rates in a stable range.
Apr ‘16 - Week 4 (18th to 24th)
- Gold gained value during fourth week’s trading.
- Prices were Rs.2,927 on 18th and Rs.2,969 on 24th.
- Gold rose by Rs.35 to Rs.2,970 on 20th and Rs.2,989 on 22nd.
- Prices dropped to Rs.2,969 on 23rd and ended the week at the same rate.
Apr ‘16 - Week 5 (25th to 30th)
- Gold rates were unchanged from the previous week on Monday (25th).
- A gradual increase in prices was witnessed through the week.
- Prices picked up from Rs 2,969 on 25th to Rs 3,025 on 30th, ending the month on a high.
1st March rate
31st March rate
Highest rate in March
Rs 3,090 on 2nd
Lowest rate in March
Rs 2,822 on 29th
Mar'16 - Week 1 (1st to 6th)
- Gold markets were closed for a few days in the first week of March as traders and jewellers around the country protested against the proposed measure to levy 1% excise duty on jewelleries as announced during Budget 2016-17.
- Prices were constant at Rs.2,872 till 3rd and Rs.2,892 from 4th to 6th.
Mar'16 - Week 2 (7th to 13th)
- Jewellery associations’ strike entered into its second week as both sides didn’t budge from their demands over 1% excise duty on non-silver jewelleries and PAN detail submission on transactions crossing Rs.2 lakhs.
- Prices were constant at Rs.2,892 till 9th, Rs.2,871 till 11th and Rs.2,867 till 13th.
Mar ‘16 - Week 3 (14th to 20th)
- Gold prices went through minor deviations over the week as protests continued through the third week also.
- Prices were constant at Rs.2,852 and Rs.2,857 in the week.
Mar ‘16 - Week 4 (21st to 27th)
- Gold prices depreciated over the fourth week.
- Prices were Rs.2,855 on 21st and Rs.2,833 on 27th.
- Gold dropped to Rs.2,824 by 24th before rising to Rs.2,833 on 25th where it stayed for the rest of the week.
Mar ‘16 - Week 5 (28th to 31st)
- Gold rates witnessed changes on a daily basis during the week.
- Gold price dropped from Rs 2,855 to Rs 2,822 before reaching Rs 2,872.
- Also Check: Importance Of Gold In Kerala
1st February rate
29th February rate
Highest rate in February
Rs.2,882 on 6th
Lowest rate in February
Rs.2,705 on 4th
Week 1 (1st to 7th)
- Gold started February on a positive note in Kerala, rising by a cumulative margin of Rs.38.
- Prices were Rs.2,716 on 1st and Rs.2,754 on 7th.
- Gold prices were volatile over the week, rising to Rs.2,740 by 3rd then falling to Rs.2,705 on 4th.
- Prices rose to Rs.2,730 on 4th and then substantially to Rs.2,882 on 6th before settling at Rs.2,754 for the week.
Week 2 (8th to 14th)
- Gold prices appreciated in the 2nd week also, rising by an overall margin of Rs.100 over the course of trading in the week.
- Prices were Rs.2,728 on 8th and Rs.2,828 on 14th.
- Gold rose to Rs.2,838 by 11th before sliding to Rs.2,828 on 12th.
- Prices rose to Rs.2,852 on 13th but fell back to Rs.2,828 on 14th.
Week 3 (15th to 21st)
- Gold prices were stable at Rs.2,810 all through the 3rd week.
- Prices were Rs.2,810 on 15th and Rs.2,810 on 21st.
Week 4 (22nd to 29th)
- Gold rose again in the final days of February, ending the month on a highly positive note.
- It was priced at Rs.2,805 on 22nd and Rs.2,872 on 29th.
- Gold traded in the positive till 26th to rise by an overall margin of Rs.67 to Rs.2,872 before stabilizing at that level for the rest of the month.
4th January rate
31st January rate
Highest rate in January
Rs.2,773 on 29th
Lowest rate in January
Rs.2,517 on 4th
Week 1 (4th to 10th)
- Gold prices were up in the first week of trading in the New Year.
- Prices were Rs.2,517 on 4th and Rs.2,632 on 10th.
- Gold rose consecutively throughout the week, rising by an overall margin of Rs.115 as strong global cues and a healthy domestic demand from jewellers and retailers spurred rates.
Week 2 (11th to 17th)
- Gold rates declined in the 2nd week of January as strong performance in equity markets and weak global and domestic cues pushed rates down.
- Prices were Rs.2,642 on 11th and Rs.2,602 on 17th.
- Gold had consecutive negative sessions from 11th to 14th with an overall loss of Rs.40 before prices stabilized from 15th onwards at Rs.2,602.
Week 3 (18th to 24th)
- Gold prices continued declining in the 3rd week also.
- Prices were Rs.2,659 on 18th and Rs.2,635 on 24th.
- Prices fluctuated within the rage of Rs.2,648 to Rs.2,663 from 18th to 23rd before falling considerably on 24th by Rs.28 to settle at Rs.2,635 for the week.
Week 4 (25th to 31st)
- Gold prices rallied at the end of the month, recovering previous losses and starting on an upward direction.
- It was priced at Rs.2,635 on 25th and Rs.2,685 on 31st.
- Gold prices appreciated steeply to Rs.2,773 by 29th before sliding to Rs.2,685 by 31st, registering a gain of Rs.50 over the week.
Details of Gold Price in Kerala (22 Karat & 24 Karat) - Till August 2015
Gold is available in Kerala for trading, investing, buying and selling as well as in the form of gaining financial aid through loans in this state and is practiced widely here as established earlier. Here are the gold rates in Kerala as of August, 2015:
22 Karat Gold: This is the lesser pure form of gold, however the price trends of this gold stays very close to the purest 24 karat gold. As of August 2015, gold rates in Kerala are at around Rs. 2,359 per gram. Gold prices were at around Rs. 2805, in January 2014. the sharp decline has been consistent and gradual since then however, have done slightly better in the month of May. But with the sudden lowering of gold rates elsewhere, gold rates in Kerala have also seen a very stark decline in the past few months.
24 Karat Gold: 24 karat gold in its purest form is also traded here and the prices remain higher against its slightly impure counterpart, although the price trends remain the same. As of August 2015, gold rates in Kerala have been hovering around Rs. 2,519 per gram against Rs. 2992 in January 2014. It too has seen a huge fall in prices affected by the global phenomena of the yellow metal prices falling in July, 2014.
Gold Investment Avenues in Kerala
Gold is popularly sold as ingots, bullions, coins and most importantly as jewellery in Kerala. Regardless, the rise and fall of price gold elsewhere, this precious metal is always in demand especially in rural areas which forms a great percentage of people who buy and sell gold:
- Also Check: Buying Gold On Onam
Over-the-counter: Gold is available for retail in the form coins and jewelry. People wear are extremely traditional about the gold and the small and medium scale retailers are doing well, apart from the large retailers in the state. Gold bullions are generally sold in international rates and from private bullion dealers such as Muthoot, Pushpak and Pentagon, etc. However, it is gold jewelry that people in Kerala that make gold is very profitable business in the state. Kerala is also said to have the largest number of gold jewelers in India. Beside Kochi bening the gold capital of India, Thrissur in Kerala is said to be one of the hubs of jewellery manufacturing in Southern India accounting for for 3000 large and medium sized manufacturers. ‘Kundan’ and ‘Filigree’ are the types of jewelry sold here in maximum. Some of the well known jewelers include Joyalukkas, Tribhovandas bhimji Zaveri,Tanishq, Malabar Gold and Fashion Gold Mahal.
Market trade: Trade in gold is possible through spot contracts, futures contracts and exchange-traded funds (ETF). Kozhikode and Kannur are well known destinations for gold traders. The gold ETFs are traded on the Mumbai stock exchange (BSE), apart from other international exchanges. These aim to track the price of gold.
Also Check Gold Prices in the Cities of Kerala
|Gold Rate In Kochi||Gold Rate In Kozhikode||Gold Rate In Kannur|
|Gold Rate In Malappuram||Gold Rate In Thrissur||Gold Rate in Trivandrum|
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News About Gold rate in Kerala
Gold Demand to Pick Up with Price Correction during Festive Season
Gold prices have been sliding down in the global market, however, demand is expected to pick up in the domestic market in light of the festive season. According to Deepak Tulsian of the Indian Bullion and Jewellers Association, gold products have been priced competitively to take on the special offers and freebies on offer in the market. Gold demand and sales are expected to pick up with last week’s price correction of gold. Currently, gold has seen a boost in religious coins, customised orders and personalized corporate gifts. Jewellers and retailers are expecting high demand during Navaratri and Dhanteras and other auspicious times to buy gold.
17th October 2016
Increase in Demand for Gold after a slump in Gold Prices
There has been a slump in gold prices from Rs.31,000 to Rs.30,020 per 10 grams. As a result of this, customers have started showing an interest in enquiring about gold. According to PTI, the prices of gold have fallen down to almost less than 1,300 $ an ounce in the global market. However, the consumers and investors might still wait for the prices to drop down further before they start thinking about purchasing gold or entering the market. This decline in prices have occurred at an ideal time of festival and upcoming wedding seasons which might increase its demand further.
According to Sunil Datwani(Director of Gehna Jewellers), the demand might increase further during Navratri festivities and Dhanteras. He also stated that the lack of demand previously has also been on account of government notification on PAN card whenever the expenditure was more than 2 lakh. However Keyur Shah(CEO of Muthoot Exim), has stated that there has been a great demand for gold jewellery at their stores in the last six months in spite of the market scenario. According to Surendra Mehta(Secretary, Indian Bullion and Jewellery Federation), the prices of gold might not get reduced drastically. So, he has advised the buyers to purchase gold now only. An analyst has stated that prices might in fact increase during the Dussehra and Muharram holidays.
7th October 2016
U.S. Releases Inflation Data, Gold Rates Stabilize
Inflation plays a pivotal role in the monetary policy of a country. The U.S. Federal Reserve will take inflation into account as a key factor. Right now, the possibility of a Fed rate hike seems remote and will most likely not take place at the policy meeting next week. A poll taken by Reuters involving 100 economists pointed to a 70% vote for the chance of a hike in the interest rates in December and not any time sooner. But the U.S. economy has been rolling out positive economic data. The latest data report shows that the U.S. consumer inflation has grown much faster than expected last month. This lends a lot of support to the confidence of the Federal Reserve that the economy is strong enough to handle the rate hike by the year end. Gold prices slipped to a two-week low on Friday. Spot gold hit its lowest since September 1st trading at $1,306.38. U.S. gold for December delivery dropped to $1,310.70. However, prices in India still remain quite high which has dampened the demand for the yellow metal.
19th September, 2016
Gold Edges up in Asia after Consumer Prices in China Fall
Following a drop in consumer prices in China, gold went up slightly in Asia amid small gains and losses. China’s prices reached a mark below expectations, capping the recent optimistic data in the country’s trade and manufacturing segment.
In August, China CPI figures rose 0.1% month-on-month, while it went up by 1.3% year-on-year, against the expected 1.7% increase. PPI was reported at a 0.8% decline year-on-year, below the 0.9% drop seen.
12th September 2016
Gold Falls Another Rs.90 to Rs.31,110 per 10g
Followed by a weakening global trend and lowered gold demand from jewellers at the domestic spot market, gold prices fell further by Rs.90 to Rs.31,110 per 10g. Sovereign gold remained stable at Rs.24,300 per 8g, while in Singapore, gold traded 0.02% lower at the global market at USD 1,322.90 per ounce.
Silver prices shot up Rs.400 to reach Rs.44,800 per kg followed by an accelerated take off by coin makers and industrial units. Meanwhile, price of 100 silver coins remained at Rs.75,000 for buying and Rs.76,000 for selling.
1st September 2016
SGBs have no impact on demand for physical gold
The Government of India has tried to gradually deter Indians from purchasing and hoarding gold. Sovereign Gold Bonds were launched to encourage people to invest in gold without actually holding physical gold. Over 4.5 lakh investors flocked to buy SGBs as it guaranteed a return of 2.75% over the investment price. Though over 2,200 crore worth of bonds were issued, the demand for physical gold has still not shifted. Gold prices are still high at Rs.31,000 per 10 grams. This indicates that the bonds were only able to create a demand for investment in gold-backed products. It has actually not had any significant impact on people’s demand for the real thing. In the first half of 2016, gold consumption dropped but this was due to a rise in gold prices. The demand was only been subdued but not overcome. But in the second half of 2016, demand for gold is surging as the festival and marriage season approaches.
30th August 2016
Gold Demand Pick Up In India Due To Festive Season.
Gold took the centre stage again as demand for gold increased in India well ahead of the festive season. Jewellers brought gold even when discounts were not offered to meet the demand in the local spot market. The discount rates currently offered by the dealers is about US $52 an ounce, which was about US $60 previously. A Mumbai based bullion trader stated that large jewellers have started building their inventory to meet the upcoming gold demand and the demand is going to pick up in the future as festivals are fast approaching. Traders expect demand for gold to increase in the second-half of 2016 unlike the first 6 months when gold didn’t trade very well.
24th August 2016
Demand For Gold Will Pick Up in Second Half of 2016
The demand for gold experienced a slump period in the first half of 2016. But experts say that with the upcoming festive season, the demand for gold may be back on track. The dismal first half of the year can be linked to the imposition of excise duties, the jewellers’ strike, rise in prices and high unofficial imports. All these factors significantly impacted the demand for gold. The market went into a deep discount zone and this took a toll on the supply of gold. But now the demand is expected to rise again on account of festive demand, increase in farmers’ incomes, and payment of arrears to employees of the Central Government under the 7th Pay Commission. With a stable rupee, the demand for gold may get a much needed boost.
22nd August 2016
Gold Prices Drop by 0.34% Following a Weak Global Trend
Gold prices fell by 0.34% to Rs.31,361 per 10g in futures trade, based on an overseas trend. Gold for delivery in the month of December reported a 0.29% drop by Rs.92 to Rs.31,662 per 10g in 11 lots. According to analysts, the decline in gold futures is due to a weak global trend.
Gold prices in Singapore also dipped 0.15% to USD 1,343.80.
18th August 2016
Gold Rate Falls By Rs 30 To Rs 30,900 Per 10 Grams
Following the weak trend overseas, gold prices lowered by Rs 30 to Rs 30,900 per 10 Grams in India. Traders state that the reason for the dip in price is due to subdued demand from jewellers in the local spot market. In Singapore, gold fell 0.3% to USD 1,331.59 an ounce which is the lowest level since July 29. In Delhi, gold of 99.9% and 99.5% purity fell by Rs 30 each to Rs 30,900 and Rs 30,750 per 10 grams, respectively. On the other hand, Silver prices fell by Rs 50 to Rs 46,250 per kg. Silver coins remained steady at Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.
16th August 2016
- For more related news /update on gold price visit: Gold News