Gold Rate In Kochi Today

Gold is very sought after in Kochi and is usually bought for investment purposes and as jewellery. Find the latest gold prices in Kochi for 22 karat and 24 karat variants. Track daily gold trends and get detailed analysis of quarterly trends below.
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  • Today's Gold Rate in Kochi ( 01 Jun 2020 )

    ₹ 4,320
    Today's Gold Rate (22K) per gram

    Compare 22K & 24K Gold Rate In Kochi (Today & Yesterday)

    Today
    Yesterday
    Rate Change
    Standard Gold (22 K) ( 1 gram ) ₹ 4,320 ₹ 4,320 ₹ 0 ↑
    Standard Gold (22 K) ( 8 grams ) ₹ 34,560 ₹ 34,560 ₹ 0 ↑
    Pure Gold (24 K) ( 1 gram ) ₹ 4,536 ₹ 4,536 ₹ 0 ↑
    Pure Gold (24 K) ( 8 grams ) ₹ 36,288 ₹ 36,288 ₹ 0 ↑

    Daily Gold Rates

    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    01 Jun 2020 ₹ 4,320 ₹ 34,560 ₹ 4,536 ₹ 36,288
    31 May 2020 ₹ 4,320 ₹ 34,560 ₹ 4,536 ₹ 36,288
    30 May 2020 ₹ 4,290 ₹ 34,320 ₹ 4,505 ₹ 36,040
    29 May 2020 ₹ 4,290 ₹ 34,320 ₹ 4,505 ₹ 36,040
    28 May 2020 ₹ 4,290 ₹ 34,320 ₹ 4,505 ₹ 36,040
    27 May 2020 ₹ 4,350 ₹ 34,800 ₹ 4,568 ₹ 36,544
    26 May 2020 ₹ 4,350 ₹ 34,800 ₹ 4,568 ₹ 36,544
    24 May 2020 ₹ 4,350 ₹ 34,800 ₹ 4,568 ₹ 36,544
    23 May 2020 ₹ 4,350 ₹ 34,800 ₹ 4,568 ₹ 36,544

    Weekly & Monthly Graph of Gold Rate in Kochi

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    *Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.

    Gold Price In Kochi

    Kochi, the second largest city in Kerala has long been a centre for trade and commerce, having been home to travellers for a major portion of the Middle Ages. Constant interaction with outsiders enabled it to grow prosperous, with its spice trade playing a key role. All this growth provided the city with sufficient money, with gold becoming a source to buy and sell goods. This penchant for gold has stayed strong in Kochi, with it accounting for a major portion of gold consumed in the country. Today, gold is viewed as a safe investment, with a number of its residents purchasing it on a regular basis.

    Gold rates in Kochi closely reflect international gold trends, with a number of factors impacting prices. Jewellery accounts for a major portion of gold demand in the city, with coins, bars, ETFs and gold funds being other popular investment options.

    Gold Rate Trend in Kochi for January 2020 to March 2020 (per gram of 24 karat gold)

    Factor January February March
    1st Day Rs.3,806 per gram Rs.3,964 per gram Rs.4,074 per gram
    Last Day Rs.3,964 per gram Rs.4,153 per gram Rs.3,969 per gram
    Highest Price Rs.3,964 per gram on 7 January and 31 January Rs.4,174 per gram on 25 February Rs.4,242 per gram on 7 and 8 March
    Lowest Price Rs.3,806 per gram on 1 and 2 January Rs.3,927 per gram on 6 and 7 February Rs.3,885 per gram on 18 and 20 March
    Trend Incline Incline Decline
    Change 4.15% 4.76% -2.25%

    Quarterly Gold Rate in Kochi from January 2020 to March 2020:

    • The price of gold on the first day of January was Rs.3,806 per gram which rose up to Rs.3,964 by the last day of the month. In between, the price of gold spiked to the highest of Rs.3,964 per gram by the end of the first week but had its lowest price of Rs.3,806 per gram on the first two days of the month. Overall, the trend was an incline of 4.15% throughout the month. The strong prices were driven by increasing tensions between the US and Iran which led to increased appeal for gold as a safe-haven investment during volatile times. Meanwhile, the US-China trade war was continuing in the background. Amidst all this was the developing coronavirus epidemic that was spreading through China, leading to cautious investments in equities and more enthusiastic investments in the bullion market.
    • In the month of February, gold opened at Rs.3,964 per gram and closed at Rs.4,153 per gram which was a substantial incline of 4.76% overall. There were dips in between, to Rs.3,927 per gram in the first week of the month which quickly recovered to rise to the highest price of Rs.4,174 per gram by the middle of the last week. By this time, the dollar had hit a new low driven by the volatility caused by the coronavirus which had spread beyond China to more than 180 countries across the world, wreaking havoc on the stock markets and the economy. There was a high in the stock markets due to the economic stimulus that were unveiled by China’s central bank which reassured investors, leading to a dip in the sheen of gold as a safe haven investment. However, this was short-lived as the coronavirus soon spread to pandemic proportions, leading to more of its appeal as a safe-haven investment.
    • In the month of March, gold saw a steady decline with a percentage of –2.25% overall. It opened at Rs.4,074 per gram and closed at Rs.3,969 per gram. It had its highest spike in March during the end of the first week and the beginning of the second week at Rs.4,242 per gram. However, it declined again to the lowest price of Rs.3,885 per gram by the third week of the month. This was the time that even the safe haven appeal of precious metals dipped following the lockdown around the world, leading to investors choosing to liquidate their assets in return for cash as fears of a global recession spread throughout.

    Gold Rate Trend in Kochi for October 2019 to December 2019 (per gram of 24 karat gold)

    Factor October November December
    1st Day Rs.3,665 per gram Rs.3,749 per gram Rs.3,728 per gram
    Last Day Rs.3,773 per gram Rs.3,701 per gram Rs.3,806 per gram
    Highest Price Rs.3,764 per gram from 25 October to 30 October Rs.3,780 per gram on 3 November and 4 November Rs.3,806 per gram on 29, 30, and 31 December
    Lowest Price Rs.3,612 per gram on 2 October Rs.3,701 per gram on 13, 27, 28, 29 and 30 November Rs.3,675 per gram on 14 December
    Trend Incline Decline Incline
    Change 2.94% -1.28% 2.09%

    Quarterly Gold Rate in Kochi from October 2019 to December 2019:

    • Gold prices opened the month of October at Rs.3,665 per gram in Kochi. Due to uncertainty in the trade deal between the United States and China, the rates fluctuated in the city over the month. The metal closed the month at Rs.3,773 per gram in the city with an overall incline of 2.94%.
    • The rates of the precious metal stood at Rs.3,749 per gram on 1 November in Kochi. Gold prices climbed to its highest for the month on 3rd and 4th November with every gram costing Rs.3,780. The rates dropped over the month as investors shifted back to the stock market as the US Federal Reserve cut the rates. The overall performance of the metal in the city showed a downward curve.
    • In December, the rates of the yellow metal bounced back given the uncertainty about the trade deal and other political factors. Gold started the month at Rs.3,728 per gram and closed at Rs.3,806 per gram. The jump in the prices was accounted to investors shifting to the bullion as a safe haven after the Senate voted in favour of Donald Trump's impeachment. The overall performance of gold over the month was 2.09%, trending upwards.

    Gold Rate Trend in Kochi for July 2019 to September 2019 (per gram of 24 karat gold)

    Factor July August September
    1st Day Rs.3,302 per gram Rs.3,402 per gram Rs.3,738 per gram
    Last Day Rs.3,381 per gram Rs.3,749 per gram Rs.3,665 per gram
    Highest Price Rs.3,428 per gram on 20 July Rs.3,770 per gram on 30 August Rs.3,801 per gram on 6 September
    Lowest Price Rs.3,271 per gram on 1 and 2 July Rs.3,371 per gram on 2 August Rs.3,663 per gram on 21 September
    Trend Incline Incline Decline
    Change 2.39% 10.19% -1.95%

    Gold Rate Trend in Kochi for April 2019 to June 2019 (per gram of 24 karat gold)

    Factor April May June
    1st day Rs.3,113 per gram Rs.3,119 per gram Rs.3,140 per gram
    Last day Rs.3,134 per gram Rs.3,140 per gram Rs.3,302 per gram
    Highest price Rs.3,140 per gram on 10 April Rs.3,176 per gram on 15 May Rs.3,371 per gram on 26 June
    Lowest price Rs.3,082 per gram on 4,5 and from 19-21 April Rs.3,082 per gram on 4 May Rs.3,140 per gram on 1 June
    Trend Incline Incline Incline
    Change 0.67% 0.67% 5.15%

    Also Check Gold Price in Metro Cities

    Gold Rate Trend in Kochi for January 2019 to March 2019 (per gram of 24 karat gold)

    Factor January February March
    1st day Rs.3,077 per gram Rs.3,417 per gram Rs.3,255 per gram
    Last day Rs.3,229 per gram Rs.3,447 per gram Rs.3,113 per gram
    Highest price Rs.3,229 per gram on 31 January Rs.3,484 per gram on 20 and 21 February Rs.3,255 per gram on 1 March
    Lowest price Rs.3,077 per gram on 1 and 2 January Rs.3,396 per gram from 13-15 February Rs.3,113 per gram on 31 March
    Trend Incline Incline Decline
    Change 4.93% 0.87% -4.36%

    Gold Rate Trend in Kochi for January 2019:

    • Demand for gold was on the rise as local offtake was high due to the wedding season, with strong overseas trends also backing a surge in price after gold rates in Kochi opened at Rs.3,077 per gram.
    • The slight dip in the U.S. dollar rate buoyed bullion as prices rose to Rs.3,124 per gram on 6 January but sliding industrial demand saw prices drop to Rs.3,108 per gram on 9 January.
    • The Federal Reserve’s possible interest rate pause rattled equities and the U.S. dollar, which boosted bullion as the metal rose to Rs.3,140 per gram on 14 January, with steady local demand pushing prices to Rs.3,176 per gram from 18-21 January.
    • A momentary drop due to recovering equities saw prices dip to Rs.3,161 per gram on 24 January but fears over the impact of Sino-U.S. trade tensions saw gold surge to Rs.3,229 per gram on 31 January.

    Gold Rate Trend in Kochi for February 2019:

    • Gold prices in Kochi opened flat at Rs.3,229 per gram but steady retail demand boosted rates to Rs.3,266 per gram on 7 February, as escalations in U.S.-China tensions rattled markets.
    • Prices dipped to Rs.3,245 per gram on 10 February as global trade tensions increased equity demand, but a turnaround in investor confidence resulted in prices rising to Rs.3,255 per gram on 18 February.
    • Despite the fluctuations in overseas offtake, local demand remained steady and bullion climbed to Rs.3,260 per gram 23 February though the U.S. dollar strength capped some gains.
    • The Fed’s dovish stance on monetary policy and the growing pressure from rising equities saw gold demand fall, though the metal rose marginally to close the month at Rs.3,271 per gram.

    Gold Rate Trend in Kochi for March 2019:

    • Interest in bullion slipped as the strengthening U.S. dollar rate and positive equity performance dented gold prices in Kochi, which opened at Rs.3,255 per gram before steadily dropping to Rs.3,129 per gram on 8 March.
    • Despite the Fed’s indication of static interest rates, local retail demand was weak due to steady equities but a surge in jeweller demand boosted prices to Rs.3,155 per gram on 15 March.
    • Unchanged interest rates prompted increased offtake in gold, with the precious metal trading at Rs.3,140 per gram on 24 March and climbing marginally to Rs.3,155 per gram on 27 March as local jeweller demand also increased.
    • A rally by the U.S. dollar amid profit-booking and steep drops in industrial offtake resulted in prices dropping to Rs.3,098 per gram on 29 March before rising marginally to end the month at Rs.3,113 per gram.

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

    Factor October November December
    1st day Rs.2,987 per gram Rs.3,098 per gram Rs.2,966 per gram
    Last day Rs.3,108 per gram Rs.2,977 per gram Rs.3,092 per gram
    Highest price Rs.3,119 per gram on 25 October Rs.3,113 per gram on 5 November Rs.3,108 per gram on 12 December
    Lowest price Rs.2,987 per gram on 1 October Rs.2,977 per gram on 30 November Rs.2,966 per gram on 1 December
    Trend Incline Decline Incline
    Change 4.05% -3.90% 4.24%

    Gold rate trend in Kochi for October 2018

    • In October, due to the fall of the US dollar, gold trends fared well in the market with increased global as well as local demand.
    • Gold opened the month at Rs.2,987 per gram and increased on account of various geopolitical issues in the world such as the ongoing Brexit negotiations and the US-China trade war. This led to a fall in global markets.
    • The price of gold was the highest on 25 October at Rs.3,119 per gram ahead of the festivals of Diwali and Dhanteras, early in November, due to which, demand was high.
    • The yellow metal closed the month at Rs.3,108, resulting in a percentage increase of 4.05.

    Gold rate trend in Kochi for November 2018

    • As the dollar recovered to a great extent, gold prices took a major hit in November. The price of gold decreased throughout the month as the demand decreased amongst local jewellers.
    • Gold opened the month at Rs.3,098 per gram and increased to the monthly high price of Rs.3,113 per gram on 5 November. Gold trends remained strong through the first week of the month due to the festival of Diwali and Dhanteras in the country.
    • After 8 November, gold dipped to Rs.3,019 per gram by the middle of the month. As the value of the rupee decreased against the dollar, import of the metal declined to a great extent thus affecting demand and supply.
    • The month closed with the metal priced at Rs.2,977 per gram with a percentage decline of 3.90.

    Gold rate trend in Kochi for December 2018

    • The declining trend of gold reversed in the month of December as the value of the dollar declined yet again, against other currencies.
    • Gold trading opened the market at Rs.2,966 per gram and increased to Rs.3,108 per gram by the middle of the month due to increased global and local demand.
    • As the US-China trade truce developed, the global markets kept falling resulting in the rupee strengthening against the dollar which contributed to an increase in the import business.
    • Apart from global trends, the wedding season in India also contributed to a great extent in the demand for the metal. Trade closed the month at Rs.3,092 per gram which resulted in a percentage incline of 4.24.

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

    Factor July August September
    1st day Rs.2,951 per gram Rs.2,903 per gram Rs.2,956 per gram
    Last day Rs.2,903 per gram Rs.2,966 per gram Rs.2,987 per gram
    Highest price Rs.2,993 per gram on 11 July Rs.2,966 per gram on 31 August Rs.3,014 per gram on 20, 21, 26 and 27 September
    Lowest price Rs.2,903 per gram on 31 July Rs.2,877 per gram on 4 August Rs.2,945 per gram on 4 September
    Trend Decline Incline Incline
    Change -1.62% 2.17% 1.04%

    Gold rate in Kochi for July 2018

    • When trading for the precious metal commenced on 1 July, gold was priced at Rs.2,951 per gram. The demand for the metal was poor amid weak trends overseas.
    • However, as the demand for the metal from retailers and industrial units increased in the following days, the price of the metal surged.
    • The highest gold rate for the month of July in Kochi was recorded on 11 July when the metal traded at Rs.2,993 per gram.
    • Meanwhile, the value of the US dollar increased compared to a basket of apex currencies. This caused gold rates in Kochi decline.
    • Gold closed at Rs.2,903 per gram on 31 July- the lowest gold rate recorded for the month.
    • Overall, the trend of gold rates in Kochi declined by 1.62% for the month of July.

    Gold rate trend in Kochi for August 2018

    • The precious metal continued to trade at Rs.2,903 per gram when the trading for gold commenced on 01 August. As the demand for the metal remained stable, the price of the metal wasn’t affected on the first day of the month.
    • In the following days, the US released the employment data which indicated positive growth for their economy due to which the value of the US dollar increased and the rate of gold in Kochi declined.
    • The lowest gold rate for the month of July was recorded on 1 August when the price of the metal fell to Rs.2,877 per gram.
    • However, due to political tension, the value of the US dollar started to fall in the following days. This caused gold rates in Kochi to incline.
    • The highest gold rate was recorded on the last day of the month when the metal closed at Rs.2,966 per gram.
    • Though the price of the metal kept fluctuated throughout the month, the overall trend of gold rates in Kochi for the month of August was an incline of 2.17%.

    Gold rate trend in Kochi for September 2018

    • Amid poor trend overseas, gold opened at Rs.2,956 per gram on 01 September.
    • As the demand for the metal from industrial units and local jewellers fell, the price of gold dropped and hit a monthly low of Rs.2,945 per gram on 04 September.
    • However, the price of the metal quickly rebounded and traded at a monthly high of Rs.3,014 per gram on 20, 21, 26 and 27 September.
    • Gold closed at Rs.2,987 per gram in Kochi and recorded an incline of 1.04% for the month of September.

    Gold Rate Trend in Kochi for April 2018 to June 2018 (per gram of 24 karat gold)

    Factor

    April

    May

    June

    1st day

    Rs.2,966 per gram

    Rs.3,050 per gram

    Rs.3,040 per gram

    Last day

    Rs.3,050 per gram

    Rs.3,040 per gram

    Rs.2,972 per gram

    Highest price

    Rs.3,056 per gram on 20-21 & 25-26 April

    Rs.3,071 per gram on 14 & 15 May

    Rs.3,040 per gram on 1 June

    Lowest price

    Rs.2,966 per gram from 1 – 3 April

    Rs.3,019 per gram on 17 & 18 May

    Rs.2,972 per gram on 30 June

    Trend

    Incline

    Decline

    Decline

    Change

    2.83%

    -0.32%

    -2.23%

    Gold Rate Trend in Kochi for April 2018:

    • Trading commenced for the month with gold price in Kochi holding at Rs.2,966 per gram - the lowest recorded monthly figure - on the 1st with poor local demand brought about by weak global cues.
    • The next few weeks saw gold rates recovering with safe-haven demand on the rise amid intensifying geopolitical tensions between the US and North Korea.
    • Gold prices surged to Rs.3,056 per gram on the 25th with strong demand from local industries, jewellers and retailers brought about by positive cues globally. This was also the highest monthly figure recorded in the city.
    • The month ended with gold priced at Rs.3,050 per gram with subdued but steady domestic demand amid favourable market cues overseas.

    Gold Rate Trend in Kochi for May 2018:

    • The second month of Q2 2018 began with gold rate in Kochi opening at Rs.3,050 per gram with domestic markets tracking positive cues overseas.
    • Poor dollar performances amid the losing equity markets led to gold prices surging to Rs.3,071 per gram on the 14th. This was also the highest monthly figure recorded in the city.
    • However, with the US dollar index gaining against other apex currencies, demand for the metal dropped over the next few days. Gold was recorded trading at a monthly low of Rs.3,019 per gram on the 17th amid the weak trend overseas.
    • Demand improved as the month progressed with bullion markets capitalising on the weakening US dollar and equities.
    • Trading concluded for the month with gold priced at Rs.3,040 per gram on the last day and Kochi recorded a decline of 0.32% in rates during the course of the month.

    Gold Rate Trend in Kochi for June 2018:

    • The month of the quarter began with gold price in Kochi holding at Rs.3,040 per gram on the 1st with steady local demand amid the weakened US dollar. This was also the highest monthly figure recorded in the city.
    • Weak global cues coupled with fluctuating markets led to gold rates dropping considerably during the week.
    • Rates dropped to a monthly low of Rs.2,972 per gram on the 30th with local demand flatlined by the poor trend overseas.
    • Poor market trends coupled with subdued domestic demand led to gold rates dropping by 2.23% during the course of the month.

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

    Factor

    January

    February

    March

    1st day

    Rs.2,924 per gram

    Rs.3,040 per gram

    Rs.2,956 per gram

    Last day

    Rs.2,940 per gram

    Rs.3,046 per gram

    Rs.2,966 per gram

    Highest price

    Rs.3,015 per gram on 25 January

    Rs.3,103 per gram on 14 February

    Rs.3,008 per gram on 28 March

    Lowest price

    Rs.2,909 per gram on 5 January

    Rs.3,003 per gram on 8 February

    Rs.2,945 per gram from 16-19 March

    Trend

    Incline

    Incline

    Incline

    Change

    0.54%

    0.19%

    0.33%

    Gold Rate Trend in Kochi for January 2018

    • On 1st January, the gold rate in Kochi stood at Rs.2,924 per gram in the backdrop of a steady domestic demand from local jewellers, retailers and industries.
    • The yellow metal declined to its lowest rate at Rs.2,909 per gram on the 5th amid strengthening of the US dollar as well as due to the decline in demand in the domestic market.
    • During the next couple of weeks, gold prices fluctuated due to uneven demand due to changes in the performances of the USD. Besides, the unsteady equity returns also contributed to the uneven gold rates in Kochi.
    • However, during the fourth week, gold rates spiralled to record its highest price on the 25th of the month. The highest gold rate in Kochi in the month of January stood at Rs.3,015 per gram.
    • Overall, gold rate trend in Kochi during the month inclined by 0.54% as investors held on to safe-haven asset amid inflation concerns in the US.

    Gold Rate Trend in Kochi for February 2018

    • Gold traded at Rs.2,961 per gram on the 1st day of the month, an increase of Rs.61 over the previous day’s price amid a declining US dollar as the central bank meeting led to an increased demand for the precious metal in the market.
    • While the gold price was steady for a couple days, the yellow metal’s rate declined to post its lowest at Rs.2,919 per gram which stood till the 12th of the month. The plunge on the gold rate is attributed to the strengthening of the USD.
    • With an increase in industrial orders and the weakening of the USD, led to an incline in the gold price.
    • Gold prices rose to post its highest at Rs.2,993 on the 14th of the month amid a weak dollar.
    • In conclusion, gold rates in Kochi for February reflected a downward trend at 0.16% due to weak global cues which led to a lower demand for the precious metal in the market.

    Gold Rate Trend in Kochi for March 2018

    • In the backdrop of a downward trend of the yellow metal in February, gold began trading at Rs.2,956 per gram on the 1st of March 2018 in tandem with a firm global trend.
    • During the first two weeks, gold rates remained steady with the domestic bullion markets less impacted by global market trends.
    • However, gold rates plunged to record its lowest at Rs.2,945 per gram on the 16th and it continued to remain with the same rate till the 19th of the month.
    • The decline in gold rates is attributed to a strong US dollar against other emerging currencies in the global market.
    • However, amid the unstable USD and the poor performance of equities led to an increase in safe-haven assets. This led gold rates to increase to Rs.3,008 per gram on 28th of the month, which is also the highest price for the yellow metal for the month.
    • Gold rate trend in Kochi for March 2018 inclined by 0.33% due to a firm overseas trend that increased the demand for the metal during the month.

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    Gold Investment Avenues In Kochi

    Residents of Kochi consider gold an ideal investment tool, thanks primarily due to its global demand and ease of purchase. The following investment modes are popular in the city.

    • Over-the-counter – Over-the-counter purchases of gold account for a major chunk of gold purchased in Kochi, with gold jewellery, coins and bullions readily available. Jewellery is perhaps the most popular mode of buying gold, with the city home to some of the biggest jewellers in the country. Gold coins and bullions can be purchased from dealers and banks across the city, with the local price being determined by international trends. Different budgetary requirements can be met in the city, with shops catering to multiple budgets. Gold sales peak during festival season, with Diwali and Onam being good times to purchase it.
    • Market trade – Market trade of gold has gained prominence in the last few years, with Exchange Traded Funds, E-gold and futures contracts providing an opportunity to indulge in trade. Thanks to their good returns and ease of trading, gold ETFs are viewed as safe and simple, with an option to trade them on the Mumbai Stock Exchange. The National Spot Exchange permits the sale and purchase of E-gold in the country. Futures contracts can be a good option for people who are looking to own gold in the future, but are subject to market fluctuations.

    Also Check Gold Price in NearBy Cities of Kochi

    Read more on Gold

    News About Gold rate in Kochi

    • Prices of gold fall for the second day in a row in India

      Despite positive global cues, the prices of gold fell for the second day in a row in India on 11 May 2020. Gold futures prices for the month of June on MCX decreased by 0.2% and hit Rs.45,722 for 10 grams.

      In the previous session, the prices of gold fell by 0.72%. In the international markets, the prices of gold were about the $1,700 levels. Despite a strong dollar and firmer equities, the prices of gold were firm due to the spread of the coronavirus. Spot gold prices in the international markets increased by 0.2% and are at $1,704.26 for an ounce. A warning was issued by South Korea regarding a second wave of the coronavirus. On 10 May 2020, China announced its high daily increase since 28 April 2020. In China, the demand for physical gold improved. However, the demand for physical gold in other countries was muted due to holidays and the lockdown. According to several analysts, they expect gold to remain positive due to the coronavirus outbreak and the several measures introduced by Central Banks to help the economy. Gold prices in India are inclusive of 3% GST and 12.5% import duty.

      11 May 2020

    • Prices of gold decrease for the third consecutive day in India on 31 March 2020

      Following a global trend, the prices of gold reduced in India on 31 March 2020. Gold futures prices for the month of June on MCX fell by 0.35% and is at Rs.43,232 for 10 grams.

      Gold prices have reduced for the third day in a row. On a quarterly basis, the prices of gold have increased by Rs.4,000. In the beginning of the month, gold prices hit record highs and were more than Rs.45,000 for 10 grams. At the international markets, the prices of gold decreased slightly due to a strong dollar and a rally in global equity markets. Spot gold prices reduced by 0.3% and are at $1,616.34 for an ounce. However, gold is supported due to the worries of an economic impact because of the coronavirus outbreak. So far this quarter, gold prices in the global markets have increased by 6.5%. This will be the sixth quarter in a row that the prices of gold have increased. The demand for gold has increased due to global recession worries. According to a note given by Bonanza Portfolio, lower interest rates and global economic worries support gold. Gold prices in India are inclusive of 12.5% import duty and 3% GST. Around one-fifth of the world’s population has been under lockdown due to the coronavirus outbreak.

      31 March 2020

    • Gold prices increase in the global market amidst increased safe-haven demand

      In the country, the price of the yellow metal increased on the Multi Commodity Exchange with investors shifting rapidly to the bullion market due to its safe-haven appeal. Post the markets crashing, investors did not waste time in investing in the precious metal to keep their investments safe.

      Gold futures for delivery in April increased by 0.46% to be priced at Rs.43,555 per 10 grams. With an increase of Rs.200 per 10 grams, the metal closed higher when compared to its previous session’s closing price.

      According to Jigar Trivedi, Fundamental Analyst – Commodity, Anand Rathi, the price of gold was supported by the safe-haven buying with the equity markets crashing globally. Investors also awaited on rate cuts by the European Central Bank which will also support the price of the metal globally.

      Gold prices in the international market also increased with tensions soaring on the effect of the Coronavirus in the United States of America with the country suspending travel from Europe. The rupee however, fell by 54 paisa at 74.19 per dollar. The rising value of the U.S. dollar in the global market capped the gains of gold.

      However, the sentiment for the precious metal tends to remain positive and the resistance for gold on the MCX can be between Rs.43,650 – Rs.43,750 per 10 grams level. Silver futures, on the other hand, dipped by 0.19% to Rs.45,741 per kg compared to its previous closing price of Rs.45,826 per kg.

      12 March 2020

    • Prices of gold fall after increasing for five consecutive days

      Due to the decline of gold rates in the international markets, the prices of gold reduced in India as well. The prices of gold increased by nearly Rs.3,000 for 10 grams over the last five days.

      Gold futures prices for the month of April on MCX declined by 1.34% and hit Rs.42,996 for 10 grams. In the previous session, the prices of gold hit a new high and touched Rs.43,788 for 10 grams. Following gold, the prices of silver also decline in the country. The pullback of the rupee against the dollar ensured the value hit Rs.71.80 and impacted the prices of the yellow metal in India. The number of coronavirus cases increasing outside China ensured that gold was a safe haven over the last few days. In the international markets, the prices of gold reduced by 1% after hitting seven-year highs in the previous session. Spot gold prices reduced from $1,688.66 in the previous session to $1,642.89 for an ounce. According to many analysts from Geojit Financial Services Limited, due to the number of coronavirus cases outside China and its negative impact on the economy, investors may look at gold as a safe haven. Few analysts even predict that the interest rates will be cut due to the slowdown in the economy.

      25 February 2020

    • Prices of gold increased on 30 January 2020

      In India, the prices of gold increased on 30 January 2020 due to the firm global rates. The rates remained firm because of the coronavirus scare. Gold futures prices on MCX increased by 0.66% and touched Rs.40,618 for 10 grams.

      The prices of gold had increased gains in the second session. Post the increase in prices, gold rates are Rs.700 lower from hitting record highs of Rs.41,293 for 10 grams. Gold prices touched record highs earlier in January. According to a note by SMC Global, the prices of gold may move towards Rs.40,700 while taking support around Rs.40,250. In the international markets, the prices of gold increased on 30 January after the US Federal Reserve announced that the coronavirus may affect the economy of China in the short term. The prices of spot gold increased slightly and touched $1,578.05 for an ounce. The US Federal Reserve did not make any changes to the rates. A meeting will be held again today by the World Health Organisation to decide on whether the coronavirus will constitute a global emergency. In India, the demand for gold has been hurt because of the high prices and consumers will take some time to adjust to the new prices. Last year, gold markets saw a decline due to weak consumption, a domestic economy slowdown, and high prices.

      30 January 2020

    • Prices of gold remain the same on 18 December 2019

      In Mumbai’s bullion market, no changes were made to the prices of gold on 18 December 2019 as investors were waiting for details on the trade deal between China and the US. The prices of gold were at Rs.38,112 for 10 grams.

      The prices for 10 grams of 18-carat, 22-carat, and 24-carat of gold were at Rs.28,584, Rs.34,911, and Rs.38,112 plus GST, respectively. The prices of silver reduced by Rs.75 and hit Rs.44,200 for a kg. Gold futures prices for the month of February decreased by Rs.23 and hit Rs.37,917 for 10 grams on MCX. Gold futures prices for the month of April decreased by Rs.31 and hit Rs.37,971 for 10 grams. Gold Mini contracts for the month of January reduced by Rs.36 and hit Rs.37,925. The prices of gold are currently trading near its resistance level. However, the prices are expected to trade higher. According to Axis Securities, the prices of gold are expected to trade between the Rs.37,500 and Rs.38,300 levels. In the international market, the prices of spot reduced slightly and hit $1,479.25 for an ounce.

      20 December 2019

    • Gold and silver prices fall for the second consecutive day

      On 20 November, gold and silver saw a decrease in prices for the second consecutive day amidst positive global trends, due to various global factors. On the Multi Commodity Exchange, the price of gold was down by 0.09% to Rs.38,172 per 10 grams.

      Compared to the recent highs in September, gold prices have dipped by Rs.1,800 per 10 grams when it had crossed the Rs.40,000 per 10-gram mark.

      The drop in prices was majorly due to the United States Senate passing legislation that supported the ongoing protests in Hong Kong which hampered the trade talks between the United States of America and China. This resulted in a negative impact on the Asian market. Due to this, silver prices on the MCX also fell by 0.08% to be priced at Rs.44,825 per kg.

      According to various sources, the gold prices in the country and all over the world have been majorly supported by uncertainties in the trade talks between China and the United States of America. Apart from this, the weak value of the dollar, recent rate cuts by the United States Federal Reserve has also contributed to the rising prices of gold and silver.

      Traders have shifted attention to the upcoming meeting of the Federal Reserve and since they had already cut the interest rates three times this year already, the demand for gold increased. Apart from this, the President of the United States of America, Donald Trump did threaten to increase tariffs if China did not agree to a deal which is to his liking.

      21 November 2019

    • Gold picks up sale on Dhanteras

      The sales of gold were more than expected after it was recorded that 30 tonnes of yellow metals were sold on the auspicious day of Dhanteras according to the national secretary of Indian Bullion and Jewellers Association, Surendra Mehta.

      The gold sales earlier used to be around 40 tonnes, but less sales were made by investors due to liquidity crunch and high prices. However, the sales have surprised everyone despite the high price of gold.

      The price of gold closed at Rs.38,275 per 10 grams as compared to last year where the metal price was Rs. 31,702 per 10 grams. Gold futures were trading around Rs.38,372 per 10 grams on Friday, having hit a record Rs.39,885 last month.

      28 October 2019

    • Gold prices rise Rs.315 due to stong global cues

      Gold prices in India rose by Rs.315 to Rs.39,325 per 10 grams following strong global cues. The price of Silver was up Rs.1,010 to Rs.47,330 per kg.

      The reason behind the Gold prices rising is lot to do with the ongoing trade tensions between China and U.S. The price of Gold is expected to rise following the uncertainty regarding the trade talks between China and U.S.

      Weaker rupee also played a role in the price of Gold rising. The rupee opened on a cautious note and dropped 20 paise to 71.22 against the U.S. dollar.

      10 October 2019

    • Gold prices climb to its highest in nearly three weeks

      With calls for impeachment proceedings against U.S. President Donald Trump pushing stocks into red, gold rates climbed to its highest in nearly three-weeks on Tuesday. The prices of spot gold rose to $1,527.40 for an ounce, hitting its highest since September 5. The futures of U.S. gold were up by 0.6% at $1,540.20.

      It needs to be mentioned here that S&P 500 and Nasdaq are set for their worst drops in the last month after U.S Representative John Lewis joined other democratic lawmakers in calling for impeachment proceedings against the U.S. President.

      On Monday, the holdings of SPDR Gold Trust GLD soared by 1.6% to 908.52 tonnes. It was the highest since the month of November in 2016. Among other metals, silver fell by 0.8% to $18.49 while platinum eased by 0.4% to $952.91. Palladium on the other hand jumped by 1.2% to $1,673.05 an ounce.

      24 September 2019

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