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Gold Price in Lucknow
Gold in India is bought primarily as jewelry and ornaments, and secondarily as a means of investment. The case is no different in Lucknow, the capital city of the state of Uttar Pradesh. The “golden city” as it’s called is home to over 4 million people and is a highly developed urban city.
Trend of Gold Rate in Lucknow for July 2017 (rates per gram for 24 karat gold)
July 2017 - Week 1 (1st to 9th)
- Gold opened at Rs.2,992 per gram on the first day of the month in the city of Lucknow. This rate was a continuation of the price seen during the previous week.
- Gold steadily traded at Rs.2,992 per gram on 2 July as well before falling to Rs.2,972 per gram on 3 July.
- The price of this precious metal was steady ahead of the U.S. Independence Day celebrations although the value of the dollar was quite low.
- This yellow metal was priced at Rs.2,942 per gram from 4 July until 6 July due to steady demand for gold from domestic as well as international markets.
- However, this demand could not be sustained and the price of gold reduced marginally on 7 July to trade at Rs.2,922 per gram.
- On the last two days of the first week of July in Lucknow, gold was priced at Rs.2,902 per gram.
July 2017 - Week 2 (10th to 16th)
- In Lucknow, gold prices started at Rs.2,902 per gram on the 10th.
- Priced had gone down to Rs.2,872 per gram on the 11th demand in global circles went down due to a rise in US dollar value.
- The US job market showed some surprisingly positive growth, which brought about some more decrease in gold prices over the next few days.
- When trading began on the 12th, gold prices had further dropped by Rs.29 to hit Rs.2,843 per gram.
- However, as president Trump’s scandal came into the fore gold prices picked up over the latter half of the week.
- Prices were recorded at Rs.2,843 per gram on the 13th but jumped to Rs.2,863 per gram on the 14th and remained there till the end of the week.
Trend of Gold Rate in Lucknow for June 2017 (rates per gram for 24 karat gold)
|June 1 Rate||Rs.3,012 per gram|
|June 30 Rate||Rs.2,992 per gram|
|Highest Rate in June||Rs.3,057 per gram on 7 June|
|Lowest Rate in June||Rs.2,972 per gram on 27 June|
June 2017 - Week 1 (1st-4th):
- Bullion prices in Lucknow fluctuated slightly owing to some major concerns in the world market.
- On the 1st of June, gold was trading at Rs.2,977 per gram but went down to Rs.2,965 per gram on the 2nd as uncertainty over multiple issues rose in the US.
- Prices went up to Rs.2,998 per gram as there were some low points in US-EU relationship, which pushed gold prices up.
- As US dollar remained on a low after the conflict, gold rates ended the first week of June at Rs.2,998 per gram.
- Gold trading was quite positive for the month as there was a Rs.21 increase since the beginning of the week.
June 2017 - Week 2 (5th - 11th)
- When the second week of June rolled out, gold was priced at Rs.3,006 per gram.
- Prices went up to Rs.3,025 on the 6th as demand went up after US employment data shook the market.
- However, the price hike was a little on the cautious on the 7th as it went up to Rs.3,030 per gram.
- The reason for caution was due to news reports that the Federal Reserve was deliberating on a possible rate hike.
- Prices dropped on the 8th to go down to Rs.3,012 per gram as they consolidated after the rise earlier in the week.
- Gold prices kept falling further as they went down to Rs.2,987 per gram on the 9th, because of some startling results in the UK General Elections.
- The election result combined with its implications on Brexit talks brought bullion trading prices further down to Rs.2,981 per gram on the 10th.
- Prices consolidated on the 11th, as gold was still seen trading at Rs.2,981 when the week ended.
June 2017 - Week 3 (12th-18th)
- On the first day of the third week of June, gold was priced at Rs.3,007 per gram. This could be attributed to high demand for this metal in the country.
- Gold continued to trade at the above rate until the 15th of June in Lucknow.
- However, there were issued regarding banks’ import of bullion due to lack of clarity on GST.
- As the demand for this precious metal reduced, the price of gold in Lucknow fell as well.
- On the 16th of June, gold was priced at Rs.2,992 per gram on account of lower demand.
- There was no sign of recovery due to which, gold rate fell further the next day. On the last two days of the week, this yellow metal was priced at Rs.2,982 per gram.
June 2017 - Week 4 (19 to 25)
- The price of gold in Lucknow was on the upswing over the course of the fourth week as domestic demand increased and international trends were also favourable.
- Gold traded at Rs.2,982 per gram on 19 June and remained constant for the next few days as demand was more or less constant.
- While demand for the precious metal was on the increase, minor fluctuations in the price did not appear to affect demand in Lucknow.
- The price rose to Rs.2,987 per gram on 23 June as the U.S. Dollar was subject to extreme volatility due to petroleum prices, which led to an increase in demand for bullion.
- The price rose still further as the week ended, with gold trading at Rs.2,992 per gram on 25 June.
June ’17 – Week 5 (26 to 30)
- The price of gold was constant for most of the last week of June in Lucknow in spite of the wildly fluctuating demand from multiple sectors.
- Gold was priced at Rs.3,002 per gram on 26 June but the price soon fell to Rs.2,972 per gram on 27 June due to a dip in demand from overseas.
- Prices recovered as demand increased due to increased buying before GST, with gold trading at Rs.2,992 per gram on 28 June.
- The price remained constant for the remainder of the week, resulting in gold trading at Rs.2,992 per gram on 30 June and recording a loss of 0.66% over the course of the month.
|May 1st Rate||Rs.3,011 per gram|
|May 31st Rate||Rs.2,992 per gram|
|Highest Rate in May||Rs.3,011 per gram on 1st & 2nd May|
|Lowest Rate in May||Rs.2,918 per gram from 11th-15th May|
May 2017 - Week 1 (1st-7th)
- Gold was priced at Rs.3,011 per gram on the 1st and 2nd of May due to sustained demand from overseas markets.
- However, due to decreasing demand for the safe-haven asset as a result of the U.S. Dollar gaining against the Yen, the rate of gold fell.
- Gold was priced at Rs.2,982 per gram on the 3rd of May and declined further thereafter.
- Low demand for this precious metal resulted in this metal trading at Rs.2,952 per gram from the 4th of May until the very end of the week.
- Low demand and geopolitical factors resulted in a decline of gold rate as the first week of May progressed.
May 2017 – Week 2 (8th -14th)
- The price of gold declined steadily in the second week of May due to a decline in demand and geopolitical factors.
- Gold traded at Rs.2,942 per gram on 8th May, with the price falling to Rs.2,928 per gram as investors pulled out of gold investments due to a resurgent market.
- A strong U.S. Dollar and strengthening markets due to the victory of a centrist candidate in the French elections kept demand for gold muted.
- Prices dropped further to Rs.2,918 per gram on 11th May, with the price remaining unchanged till the end of the week.
May 2017 - Week 3 (15th - 21st)
- On 15th, gold in Lucknow was selling at Rs.2,918 per gram, which then went up to Rs.2,923 per gram on the 16th.
- The 17th again saw an increase in gold prices, owing to some weakening dollar amidst concerns over President Donald Trump’s meddlesome behaviour.
- Gold was trading at Rs.2,991 per gram on 18th - an increase of Rs.52 per gram from the previous day’s prices when bullion was selling at Rs.2,939 per gram.
- The US President’s involvement in trying to influence a federal investigation sent the market into a tizzy.
- However, after that concerns mellowed down on intensity, gold rates took a hit to go down to Rs.2,977 per gram on the 19th.
- Rates remained unchanged on the 20th and the 21st as bullion prices consolidated towards the end of May week 3.
May 2017 – Week 4 (22nd - 28th)
- The yellow metal was priced at Rs.2,977 per gram in Lucknow on 22nd of May thanks to high demand for gold from international markets and jewellers.
- The price of gold was steady on the 23rd of May despite the Manchester blasts with investors staying on the sidelines.
- This rate was seen until the 25th of the month as a result of steady demand for gold.
- However, the rate of gold rose on the 26th of the month due to a fall in the value of the U.S. dollar. Additionally, there did not seem to chances of the U.S. Fed increasing the rate of interest resulting in relatively high rates of gold.
- From the 26th to the 28th of May in Lucknow, gold was priced at Rs.2,992 per gram.
May ’17 – Week 5 (29th to 31st)
- Stagnant local demand and negative cues from international trading led to gold prices remaining constant for the last three days in May.
- Gold traded at Rs.2,992 per gram on 29th May as the U.S. Dollar was stable in spite of the attacks in Manchester, which jilted markets across Europe.
- Demand from industry was poor due to high import costs, which reduced demand further.
- Prices remained constant as the month ended, with gold continuing to trade at Rs.2,992 per gram on 31st May, recording a nominal drop in value of 0.63% over the course of the month.
|April 1st Rate||Rs.2,991 per gram|
|April 30th Rate||Rs.3,011 per gram|
|Highest Rate in April||Rs.3,068 per gram on the 15th and 16th of April|
|Lowest Rate in April||Rs.2,983 per gram from the 8th to the 10th of April|
April 2017 - Week 1 (1st-9th)
- Due to increased demand for this precious metal, rate of gold was on a rise during the first week of April in the city of Lucknow.
- Rate of gold was Rs.2,991 per gram on the 1st day of the month.
- Due to higher demand from both domestic and international markets, the rate of gold was stable at Rs.2,991 per gram until the 3rd of April.
- As the week progressed, the rate of gold continued to rise due to increased offtake.
- The price of gold was Rs.3,003 per gram between the 4th of April to the 7th of April.
- However, a slight decline was noted in the rate of gold during the last two days of the month with gold trading at Rs.2,983 per gram.
April 2017 - Week 2 (10th-16th)
- In Lucknow, when trading began on 10th, gold was priced at Rs.2,983 per gram which then rose by Rs.15 to Rs.2,998 per gram as local demand surged on 11th.
- The 12th saw the biggest increase in prices as gold rate rose by Rs.38 to trade at Rs.3,036 per gram.
- However, as demand dipped suddenly on 13th, price of gold in Lucknow went down by Rs.20 to Rs.3,016 per gram.
- The fall, though, was short lived as gold rate in Lucknow gained by Rs.31 on 14th to bring trading prices up to Rs.3,047 per gram.
- As demand was on the increase from both domestic and international markets, rates went up again on the 15th, this time to reach Rs.3,068 per gram - Rs.21 per gram increase.
- On the last day of the week, gold price in Lucknow remained unchanged as it was still seen trading at Rs.3,068 per gram.
April 2017 - Week 3 (17th-23rd)
- Gold rates were relatively stable during the third week of April in the city of Lucknow. This could be attributed to steady demand for this metal.
- In early trade, this metal traded higher due to rising tensions in North Korea and Syria, resulting in investors being driven to safe haven assets.
- This precious metal was priced at Rs.3,057 per gram on the 17th of April. This rate was noted until the 21st of April due to sustained demand for this metal.
- However, due to increased demand on the 22nd as well as geopolitical tensions, the price of gold rose to Rs.3,062 per gram and stayed steady at this rate until the end of the week.
April 2017 - Week 4 (24th-30th)
- Owing to a number of factors such as geopolitical reasons as well as the demand, the rate of gold was not very high during the final week of the month of April in Lucknow.
- On the first day of the week, gold traded at Rs.3,041 per gram thanks to sustained demand. This rate was noted the next day as well.
- However, as the U.S Dollar gained value, the price of gold fell.
- Gold was priced at Rs.3,011 per gram from the 26th of April until the end of the week due to steady yet low demand.
- The French presidential elections were another reason for the decline in the rate of gold.
|March 1st Rate||Rs.3,009 per gram|
|March 31st Rate||Rs.2,991 per gram|
|Highest Rate in March||Rs.3,009 per gram on 1st March|
|Lowest Rate in March||Rs.2,950 per gram on 15th March|
March 2017 - Week 1 (1st - 4th):
- Gold prices saw a change in Lucknow on two occasions.
- On 1st, gold was trading at Rs.3,009 per gram and remained the same on 2nd as well.
- Prices decreased on the 3rd by Rs.19 to trade at Rs.2,990 per gram as US economy seemed to pick up slightly.
- Rates didn’t change on the 4th as it was still trading at Rs.2,990 per gram.
March 2017 - Week 2 (5th - 11th):
- Like the rest of the country, gold rates in Lucknow fluctuated over the second week of March.
- On 5th, gold was trading at Rs.2,990 per gram and continued at the same rate on the 6th.
- The 7th saw prices go down by Rs.20 to trade at Rs.2,970 per gram but increased to Rs.2,993 per gram on 8th.
- Rates went down on 9th to Rs.2,977 per gram and again to Rs.2,965 per gram on 10th as demand plummeted.
- The last day of March week 2 saw prices pick up slightly to end at Rs.2,971 per gram.
March 2017 - Week 3 (12th-18th):
- Gold prices in the third week of March in Lucknow were on the increase due to increased purchasing from industrial as well as retail sectors.
- Gold traded at Rs.2,971 per gram on the first day of the third week of March.
- Despite seasonal demand, the price of gold dropped by Rs.20 the next day to trade at Rs.2,951 per gram.
- The rate of gold continued to decline over the next two days owing to a fall in demand from markets overseas.
- On the 17th of March, rate of gold recovered marginally to trade at Rs.2,970 per gram.
- Gold traded at Rs.2,971 per gram on the last two days of the month owing to steady demand from domestic markets.
March 2017 - Week 4 (19th-25th):
- In Lucknow, week 4 began with gold trading at Rs.2,976 per gram which continued on the next day demand remained unchanged.
- The 22nd, gold prices increased by Rs.27 per gram to go up to Rs.3,003 per gram, owing to a sudden surge in domestic demand and a slightly weakening dollar.
- Gold rates remained the same on 23rd before going down by Rs.10 per gram on 24th to hit Rs.2,993 per gram.
- The fall in rates can be attributed to the rallying dollar and a slight fall in demand.
- At the end of the week, gold was still trading at Rs.2,993 per gram.
March 2017- Week 5 (26th-31st):
- When trading started for week 5 on 27th, gold prices in Lucknow stood atRs.3,003 per gram.
- As there was no change in demand, gold rate in Lucknow remained unchanged till 30th March.
- On 31st, prices fell due to a lack of domestic demand to hit Rs.2,991 per gram.
|February 1st Rate||Rs.2,978 per gram|
|February 28th Rate||Rs.3,020 per gram|
|Highest Rate in February||Rs.3,031 per gram from 25th-27th February|
|Lowest Rate in February||Rs.2,957 per gram from 4th-6th February|
February 2017 - Week 1 (1st-4th):
- Compared to other cities in India, Lucknow saw fluctuations to a much lesser extent.
- Gold prices remained the same for the first three days of the week at Rs.2978 per gram.
- The promising trend from 1st to 3rd was brought down by a massive decrease on the 4th.
- When the week ended, prices of gold were down to Rs.2,957 per gram - a decrease of Rs.21 per gram.
February 2017 - Week 2 (5th-11th)
- Gold prices in Lucknow reflected those across the country, with the metal steadily increasing in value during the week.
- Gold traded at Rs.2,957 per gram on 5th February, with the rise in price attributed to steady demand from the industrial sector due to a low U.S. Dollar.
- The price was stable for a few days, before seeing a jump to Rs.2,999 per gram on 7th February, an increase of Rs.42 per gram.
- Global markets were affected by the travel ban imposed in the United States, with markets and currencies faltering, which led to increased demand for gold.
- Gold traded at Rs.3,009 per gram from 8th-10th February as gold continued to garner interest from investors.
- The price dipped on the last day of the week as demand dropped marginally, with gold trading at Rs.2,983 per gram, resulting in gold gaining Rs.26 per gram during the week.
February 2017 - Week 3 (12th-18th)
- The price of gold in Lucknow fell marginally as the week began but prices recovered due to an increase in demand.
- Gold was priced at Rs.2,983 per gram on 12th February as demand was stable, with the price remained the same on 13th February.
- Prices fell by Rs.10 per gram to trade at Rs.2,973 per gram on 14th February as industrial demand dropped on low demand.
- Prices rose as demand once again rose due to a falling U.S. Dollar to trade at Rs.2,989 per gram 16th February.
- Increased retail demand led to gold trading at Rs.3,004 per gram on 17th February.
- Gold ended the week trading at Rs.2,999 per gram on 18th February, registering an increase of Rs.16 per gram.
February 2017 - Weeks 4 & 5 (19th-28th)
- Gold prices in Lucknow were stable for most of the fourth week, with gold trading at Rs.2,999 per gram from 19th-24th February.
- Market conditions and fluctuations in demand did not impact prices due to strong local demand.
- Gold rose to Rs.3,031 per gram on 25th February as global currencies fell and markets also dropped.
- Prices fell as the week ended, with gold trading at Rs.3,020 per gram on 28th February, registering a 1.41% increase in price over the month.
|January 1st Rate||Rs.2,844 per gram|
|January 31st Rate||Rs.2,958 per gram|
|Highest Rate in January||Rs.2,979 per gram on 23rd & 24th January|
|Lowest Rate in January||Rs.2,844 per gram from 1st-3rd January|
January 2017 - Week 1 (1st to 7th)
- Lucknow also maintained its upward trend with regards to gold prices in the country.
- The first day of the year began with gold trading at Rs.2,844 per gram and continued at the same rate for the next two days till the 3rd.
- On 4th, prices increased by Rs.11 to help the yellow metal trade at Rs.2,855 per gram.
- The next three days of the week, from 5th to 7th, saw gold prices hold steady to trade at the same rate at Rs.2,866 per gram.
January 2017 - Week 2 (8th to 15th)
- Gold was priced at Rs.2,866 per gram on 8th January, with the price staying constant for the next day.
- Prices rose to Rs.2,888 per gram on 10th January, an increase of Rs.22 per gram as industrial demand rose on favourable market conditions.
- Falling markets led to gold prices rising to Rs,2,909 per gram on 11th January, as prices rose by Rs.21 per gram in a single day.
- Gold traded at Rs.2,925 per gram on 12th January, the price continuing to rise due to steady demand.
- A minor dip in price led to gold falling to Rs.2,920 per gram on 13th January, though prices recovered.
- Gold traded at Rs.2,941 per gram on 14th January, an increase of Rs.21 per gram.
- The price remained the same, resulting in gold ending the week trading at Rs.2,941 per gram on 15th January, with the price increasing by Rs.75 per gram over the week.
January 2017 - Week 3 (15th to 21st):
- At the beginning of week 3, on the 15th, gold was seen trading at Rs.2,941 per gram and increased to Rs.2,952 per gram on the 16th as global demand soared.
- Prices didn’t change on the 17th as it remained at Rs.2,952 per gram but increased by Rs.21 to hit Rs.2,973 per gram on the 18th.
- As demand fell gold prices followed suit to decrease considerably.
- On 19th, gold prices were down by Rs.16 to Rs.2,957 per gram.
- Prices fell again on the 20th bringing gold trading rates down to Rs.2,952 per gram - a Rs.5 decrease from the previous day.
- The last day of the week on the 21st came as a much-needed breather as gold prices increased to Rs.2,963 per gram - a change of Rs.11.
January 2017- Weeks 4 & 5 (22nd to 31st)
- Gold prices in Lucknow were high as the week began, trading at Rs.2,963 per gram on 22nd January.
- Prices rose to Rs.2,979 per gram on 23rd January as demand was high due to increased purchases preceding the Lunar New Year and higher demand due to market fluctuations.
- Prices began to dip as the week progressed due to lower demand from industry, resulting in gold trading at Rs.2,978 per gram on 25th January.
- A sharp dip in price was observed on 27th January, with gold falling to Rs.2,946 per gram as anticipation over the upcoming U.S. Federal meeting the next week kept gold prices low.
- Prices recovered marginally, trading at Rs.2,958 per gram on 31st January.
|December 1st Rate||Rs.2,893 per gram|
|December 31st Rate||Rs.2,884 per gram|
|Highest Rate in December||Rs.2,893 per gram on 1st and 2nd December|
|Lowest Rate in December||Rs.2,800 per gram from 23rd to 28th December|
December 2016 - Week 1 (1st to 4th)
- Gold opened trading at Rs.2,893 per gram on December 1st.
- Demonetization efforts by the government had an impact here too and trading prices remained the same at Rs.2,893 per gram on December 2nd.
- On December 3rd though, there seemed to be a small downsurge in the prices as it traded at Rs.2,887 per gram.
- For December 4th, gold prices closed at Rs. 2,887 per gram as the demand seemed to stagnate, courtesy of the de-legalisation of Rs.500 and Rs.1,000 notes.
- Also, gold prices seemed to hit a new low for the week as little incentive for growth.
December 2016 - Week 2 (5th-11th)
- Lucknow enjoyed a relatively calm week with regards to its gold rates.
- On December 5th, at the beginning of week 2, gold traded at Rs.2,887 per gram and went on to remain the same till the closing time on the 7th.
- The 8th though saw a slight increase of Rs.5 as gold traded at Rs.2,892 and stayed the same for the 9th too.
- Gold traded at Rs.2,864 per gram on 10th, a sharp decline of Rs.28 and then remained the same till the closing hours of December 11th.
December 2016 - Week 3 (12th to 18th)
- Lucknow didn’t see much of a fluctuation throughout the week.
- On 12th, gold traded at Rs.2,864 per gram and continued to perform at the same rate till the 14th.
- The 15th, however, saw prices decrease significantly to hit Rs.2,822 per gram.
- Rest of the week from the 16th didn’t see any change in prices at all.
- The third week that ended on the 18th saw gold prices remain at Rs.2,822 per gram.
December 2016 - Week 4 (19th to 25th)
- Lucknow had similar gold trends as Delhi with regards to the pricing.
- The week, starting on the 19th, in Lucknow began with gold trading at Rs.2,822 per gram.
- For much of the week till the 22nd, gold rates remained at Rs.2,822 per gram, same as on the 19th.
- On the 23rd, however, gold prices decreased to round off at Rs.2,800 per gram and went on remain so till the end of the week on 25th.
December 2016 - Week 5 (26th to 31st)
- The price of gold in Lucknow was Rs.2,800 per gram on 26th December as demonetisation continued to affect demand for the yellow metal.
- Gold prices stayed constant at Rs.2,800 per gram till 28th December on low demand.
- Prices rose to Rs.2,833 per gram on 29th December as demand rose marginally.
- Gold settled at Rs.2,844 per gram on 30th and 31st December.
|1st November rate||Rs.3,099 per gram|
|30th November rate||Rs.2,941 per gram|
|Highest rate in November||Rs.3,213 per gram on 5th and 6th November|
|Lowest rate in November||Rs.2,929 per gram on 25th to 27th November|
November '16 - Week 1 (1st to 6th)
- Gold was seen trading at Rs.3,099 per gram on 1st November.
- The constant prices in Lucknow were broken by high demand in the domestic market.
- By 5th November, the price of gold had climbed to Rs.3,213 per gram, the highest for this week.
- Trends in the global market indicated a fall in gold prices could be expected as the Fed rate hike seemed possible in December.
November '16 - Week 2 (7th to 13th)
- Gold traded at Rs.3,211 per gram on 7th to 10th November.
- Demand was steady in the domestic market on account of the wedding season.
- Gold prices started to fall as buyers were reluctant to purchase gold in the domestic market after PM Modi announced his surgical strike on black money.
- Gold traded at Rs.3,071 per gram from 11th to 13th October on account of low demand.
- In the global market, Donald Trump’s victory in the U.S. elections shocked the world and resulted in the dollar dropping. Demand for gold in the overseas market picked up.
November '16 - Week 3 (14th to 20th)
- Gold prices continued to drop this week as domestic demand took a hit post PM Modi’s announcement of the ban on Rs.500 and Rs.1,000 notes.
- Gold traded at Rs.3,071 per gram from 14th to 16th November.
- In the global market, gold prices edged higher as the dollar retreated against a number of currencies.
- Gold rates dipped to Rs.2,994 per gram by the end of the week.
- Demand for the metal is expected to stabilise as the economy slowly returns to normalcy.
November '16 - Week 4 and 5 (21st to 30th)
- Gold traded at Rs.2,994 per gram on 21st and 22nd November.
- Gold prices fell this week as India faced a cash crunch on account of the demonetisation scheme.
- Gold rates fell to Rs.2,929 per gram from 25th to 27th November, the lowest price recorded for the month of November.
- A strong dollar in the global market could be attributed to positive U.S. economic data.
- Gold traded at Rs.2,941 per gram in the last week of November.
- Though the wedding season is at its peak, demand is expected to be low for the next few weeks.
|1st October rate||Rs.3,205 per gram|
|31st October rate||Rs.3,099 per gram|
|Highest rate in October||Rs.3,205 per gram on 1st to 4th October|
|Lowest rate in October||Rs.3,088 per gram on 6th October to 25th October|
October '16 - Week 1 (1st to 7th)
- Gold traded at Rs.3,205 per gram from 1st October to 4th October.
- Constant rates were a result of steady domestic demand.
- However, on 5th, prices started to drop as the dollar gained strength on the back of an improving U.S. economy.
- With talks of a Fed rate hike in the air, gold prices dropped.
- Gold traded at Rs.3,088 per gram on 7th October.
October '16 - Week 2 (8th to 14th)
- The constant prices of gold last week continued.
- Gold traded at Rs.3,088 per gram through the week.
- Constant prices could be attributed to stable demand flowing in from jewellers and retailers in the domestic market on account of the festive season.
- Gold rates dropped globally at the end of the week, but prices remained unchanged in Lucknow.
October '16 - Week 3 (15th to 21st)
- The constant trend still prevailed in Lucknow.
- Gold continued to trade at Rs.3,088 per gram for the entire week.
- Prices seemed to be unaffected by global trends.
- Domestic demand remained steady on account of the wedding season.
October '16 - Week 4 (22nd to 28th) & Week 5 (29th to 31st)
- Prices of gold stayed constant in Lucknow.
- Gold traded at Rs.3,088 per gram from 22nd October to 25th October.
- Festive demand gave gold prices a boost.
- Global trends stayed positive as the dollar weakened.
- On 26th October, gold prices jumped to Rs.3,099 per gram and remained unchanged till the end of the week.
- With the wedding season approaching, demand for gold is expected to remain high.
|1st September rate||Rs.3,184 per gram|
|30th September rate||Rs.3,217 per gram|
|Highest rate in September||Rs.3,228 per gram on 7th to 12th September|
|Lowest rate in September||Rs.3,184 per gram on 1st and 2nd September|
September '16 - Week 1 and 2 (1st to 10th)
- Gold rates saw a bright week in the beginning of September as the U.S. economic data proved to be weak.
- Gold traded at Rs.3,184 per gram on 1st September and climbed to Rs.3,228 per gram by 7th September.
- Prices remained constant till the end of the week.
September '16 - Week 3 (11th to 17th)
- Gold rates stayed constant at the beginning of the week at Rs.3,228 per gram.
- Prices soon dropped as the global market experienced a downswing on account of rising expectations of a Fed rate hike this month.
- Demand in the domestic market was sluggish as buyers opted to stay on the sidelines.
- Gold fell to Rs.3,195 per gram on 17th September.
September '16 - Week 4 (18th to 24th)
- Gold traded at Rs.3,195 per gram on 18th and 19th September.
- As the week progressed, gold rates rose steadily on account of an increase in domestic demand.
- Investors in the global market were in a bullish mindset as the Fed rate hike was put on hold for now.
- Gold traded at Rs.3,227 per gram and stayed constant going into the fifth week of September.
September '16 - Week 5 (25th to 30th)
- The bullish trend of last week turned bearish this week.
- Gold traded at Rs.3,227 per gram for majority of the week.
- On 29th September, gold rates dived down to Rs.3,207 per gram as the dollar gained amid the presidential elections.
- Gold rates closed at Rs.3,217 per gram on 30th September indicating an overall increase of 1.03% for the month.
|1st July rate||Rs.3,219 per gram|
|31st July rate||Rs.3,205 per gram|
|Highest rate in July||Rs.3,248 per gram on 4th and 10th August|
|Lowest rate in July||Rs.3,205 per gram on 26th to 31st August|
August '16 - Week 1 (1st to 7th)
- Gold prices were constant for the first four days of the week and rose briefly before plunging at the end of the week.
- Prices stood at Rs.3,219 per gram on the 1st and Rs.3,206 per gram on the 7th of August.
- The weak market at the start of the week led to demand being constant, but renewed demand mid-week led to prices rising marginally.
- The strong U.S. economic data led to the Dollar making gains, pushing gold demand lower.
August '16 - Week 2 (8th-14th)
- Gold rates firmed up this week as the dollar weakened owing to a slow U.S. economic growth rate.
- Gold rates were strong at Rs.3,206 per gram at the beginning of the week and climbed to Rs.3,248 per gram on 10th August.
- Prices dropped again but stabilized by the end of the week, trading at Rs.3,226 per gram.
August '16 - Week 3 (15th-21st)
- Gold traded at Rs.3,226 per gram on 15th August.
- Prices rose steadily owing to sustained demand in the domestic market from jewellers and stockist preparing for the festive season.
- The price of gold stayed constant at Rs.3,238 from 18th August going into the fourth week.
August '16 - Week 4 (22nd-28th)
- Gold prices remained stable till 24th August after which it dropped drastically.
- Stable prices for gold could be attributed to the demand in the domestic market on account of the festive season approaching.
- Gold traded at Rs.3,238 per gram on 22nd August.
- By the end of the week, prices dropped to Rs.3,205 per gram as the dollar gained strength.
August '16 - Week 5 (29th-31st)
- Gold rates cruised at a steady pace through the week on account of sustained demand from jewellers in the domestic market.
- Global trends were weak and led to prices dropping as the month of September began.
- Gold traded at Rs.3,205 per gram through the week.
|1st July rate||Rs. 3,167 per gram|
|31st July rate||Rs. 3,219 per gram|
|Highest rate in July||Rs. 3,227 per gram from July 7 to July 9|
|Lowest rate in July||Rs. 3,163 per gram on July 22|
July'16 - Week 1 and 2 (1st to 10th)
- Entering July, gold rates were on a steady rise.
- Gold traded at Rs.3,167 on 1st July and Rs.3,227 on 9th July.
- Global market trends and stable domestic demand kept gold prices stable with a slight increasing trend.
July'16 - Week 3 (11th to 17th)
- Prices declined, with the price being stable for the latter part of the week.
- Prices were recorded at Rs.3,226 per gram on the first day of the week and Rs.2,199 on the last day of the week.
- Prices dropped very marginally at the start of the week before a sharp decline towards the middle of the week, after which prices were stable.
July '16 - Week 4 (18th to 24th)
- Gold remained stable for majority of the week with a few fluctuations towards the end.
- Gold traded at Rs.3,199 per gram at the beginning but fell on 22nd July to Rs.3,163.
- Stable demand allowed the prices to climb back up to Rs.3,178 per gram for the rest of the week.
July‘16 - Week 5 (25th to 31st)
- Gold prices in Lucknow were recorded at Rs.3,178 on the 25th of July.
- Prices remained unchanged on the 26th, after which an increase of Rs.11 lifted prices up to Rs.3,189 and they remained stable for another day.
- Prices then rose by Rs.17 on the 29th after which a further increase of Rs.13 ensured that the precious metal ended the month at Rs.3,219 per gram.
|1st June rate||Rs.2,960|
|30th June rate||Rs.3,167|
|Highest rate in June||Rs.3,182 on 28th and 29th of June|
|Lowest rate in June||Rs.2,950 from 2nd to 5th of June|
Jun'16 - Week 1 (1st to 5th)
- Gold traded at Rs. 2,960 on June 1st.
- Prices took a small hit falling by Rs. 10, but remained constant through the week.
- Owing to expectations of a Fed rate hike being put to rest, demand for gold has stabilised and allowed gold rates run steadily.
- Gold rates traded at Rs. 2,950 on June 5th.
Jun'16 - Week 2 (6th to 12th)
- Gold traded at Rs. 3,003 per gram on the 6th of June.
- Gold prices dropped down by Rs. 20 within two days as gold traded at Rs. 2,983 per gram on the 8th of June.
- The yellow metal hit its highest for the month on the 9th of June as it traded at Rs. 3,045 per gram.
Jun'16 - Week 3 (13th to 19th)
- Gold traded at Rs. 3,056 per gram on the 13th of June.
- Gold hit its highest for the week on the 17th of June at Rs. 3,109 per gram.
- Gold rate remained unchanged for the last three days of the week.
Jun'16 - Week 4 (20th to 26th)
- As the month of June progressed, there was a decline seen in the price of gold.
- This could be attributed to reduced demand and upcoming British referendum.
- On the 20th of June, the price of gold was Rs.3,109 and on the 26th, the rate was Rs. 2,950 per gram.
- The highest rate of gold for the week was noted on the 21st at Rs. 3,120 per gram.
- The lowest was on the last three days of the week at Rs. 2,950 per gram.
Jun'16 - Week 5 (27th to 30th)
- Gold prices fluctuated during the week and there was a significant change in prices between the 27th and 30th of June.
- Prices were recorded at Rs.2,950 on the 27th of June and Rs.3,167 on the 30th of June.
- Unlike most other cities that recorded losses, the value of gold increased by Rs.217 between the 27th and 30th of June.
|1st May rate||Rs. 3,119 per gram|
|31st May rate||Rs. 2,960 per gram on May 30|
|Highest rate in May||Rs. 3,120 per gram on May 9|
|Lowest rate in May||Rs. 2,960 per gram on May 28|
May'16 - Week 1 (1st to 7th)
- Gold rates remained constant for most part of the week, with a small increase mid-way through the week following which prices returned closer to their original rates by the end of the week.
- Prices were recorded at Rs.3,119 on the 1st of May and Rs.3,120 on the 7th of May.
- Although there was a slight decline on Wednesday, Thursday and Friday’s rates, prices returned to almost the same level as at the start of the week.
May ‘16 - Week 2 (8th to 14th)
- Gold rates remained the same on the first two days of the week before declining by Rs.40 and sticking to the same level for the rest of the week.
- Prices were recorded at Rs.3,120 on the 8th of May and Rs.3,080 on the 14th of May.
- Although there was a slight decline on Tuesday, prices did not record any further losses until the end of the week thanks to strong domestic and international cues amidst rising industrial demand.
May ‘16 - Week 3 (15th to 21st)
- Barring marginal losses on Tuesday, Wednesday and Thursday, prices were stable on the remaining days of the week.
- Prices were recorded at Rs.3,080 on the 15th of May and Rs.3,048 on the 21st of May.
- Although prices fell for three days in succession, the decline was not too significant and firming international and domestic cues ensured that prices gained stability towards the end of the week.
May ‘16 - Week 4 (22nd to 28th)
- Gold rates stayed steady till mid-week and then started to fall.
- Prices were recorded at Rs. 3,048 on the 22nd of May and Rs. 2,960 on the 28th of May .
- Gold rates started dropping on May 25th and continued the trend till the end of the week owing to changes in the global gold markets.
May ‘16 - Week 5 (29th to 31st)
- The rate of gold in Lucknow for the month of May was quite stable throughout the entire month.
- There were no changes in the price of gold during the final week of May.
- Gold traded at Rs. 2,960 on all days of the last week of May.
|1st April rate||Rs 2,943|
|30th April rate||Rs 3,119|
|Highest rate in April||Rs 3,119 on 30th|
|Lowest rate in April||Rs 2,933 on 5th|
|% Change||+ 5.98%|
Apr'16 - Weeks 1 & 2 (1st to 10th)
- Gold prices in Lucknow appreciated in the first two weeks of April as gold’s attractiveness as a safe haven increased while economic data from major economies showed lower than expected growth.
- Prices were Rs.2,943 on 1st and Rs.2,988 on 10th.
- Gold prices dropped on 5th to Rs.2,933 before rallying till 10th to post a net gain of Rs.45 over the weeks.
Apr ‘16 - Week 3 (11th to 17th)
- Gold prices were down by Rs.7 over the course of the third week.
- Prices were Rs.2,988 on 11th and Rs.2,981 on 17th.
- Gold saw minimal variations as prices stayed in a set range on the back of stable global and domestic cues.
Apr ‘16 - Week 4 (18th to 24th)
- Gold gained marginal value in the fourth week.
- Prices were Rs.3,002 on 18th and Rs.3,007 on 24th.
- Gold didn’t see much variations within the week as prices stayed above the 3,000-level.
Apr ‘16 - Week 5 (25th to 30th)
- The week began with gold trading at Rs 3,007.
- Prices picked up marginally over the next three days, reaching Rs 3,024 on 28th.
- A significant jump in rates was witnessed over the next two days, as rates peaked at Rs 3,119 on 30th.
1st March rate
31st March rate
Highest rate in March
Rs 3,030 on 1st and from 3rd to 14th
Lowest rate in March
Rs 2,940 on 15th, 16th, 17th
Mar'16 - Week 1 (1st to 6th)
- Gold markets remained closed in the city as jewellers and traders went on a strike against the proposal of 1% excise duty on gold jewellery made by Finance Minister Arun Jaitley during Budget 2016-17 session.
- Prices were stable at last week’s number of Rs.3,030.
Mar'16 - Week 2 (7th to 13th)
- The jewellers protest entered its second week in the city over introduction of 1% excise duty on non-silver jewellery purchases and compulsory submission of PAN details on jewellery transactions above Rs.2 lakhs.
- Prices were stable at last week’s figure of Rs.3,030.
Mar ‘16 - Week 3 (14th to 20th)
- There was no trading over the third week also.
- Prices were stable at Rs.2,998 with small variations.
Mar ‘16 - Week 4 (21st to 27th)
- Protests from traders over proposed changes in Budget 2016-17 carried into the fourth week.
- Jewellers opened their stores for business in most of the city.
- Prices saw little variation as gold was selling at Rs.2,998 till 24th and Rs.2,948 till 27th.
Mar ‘16 - Week 5 (28th to 31st)
- There were a few jewellers who continued their protest against new budgetary proposals.
- Gold prices stayed steady at Rs 2,948 throughout the week.
1st February rate
29th February rate
Highest rate in February
Rs.3,049 on 26th
Lowest rate in February
Rs.2,712 on 1st
Feb'16 - Week 1 (1st to 7th)
- Gold rates in Lucknow continued the appreciation from January into the 1st week of February.
- Prices were Rs.2,712 on 1st and Rs.2,868 on 7th.
- Gold gained value on all days of the week and also crossed the 2,800-mark during the course of the week.
- Gold touched Rs.2,803 on 4th before rising to 9-months high figures for the rest of the week.
- Gold settled at an impressive Rs.2,868 on 6th and 7th.
Feb '16 - Week 2 (8th to 14th)
- Gold prices were up again in the 2nd week as a mixture of rupee depreciation, global cues and domestic demand pushed gold rates to 19-month highs.
- Prices were Rs.2,863 on 8th and Rs.2,946 on 14th.
- Gold rose to Rs.2,863 by 10th before dropping to Rs.2,835 on 11th.
- Prices surged and breached 3,000-mark on 12th to touch Rs.3,008.
- Gold prices were stable at Rs.2,946 by 14th.
Feb '16 - Week 3 (15th to 21st)
- Gold lost Rs.15 during the third week on the back of muted demand on the domestic front and weak global cues.
- Prices were Rs.3,008 on 15th and Rs.2,993 on 21st.
- Gold prices depreciated by Rs.91 on 16th to fall to Rs.2,917 before gaining by Rs.101 over the next 3 days to beat the previous high for this year at Rs.3,018.
- Prices dropped marginally to Rs.2,993 on 20th and remained stable on 21st.
Feb '16 - Week 4 (22nd to 29th)
- Gold prices appreciated towards the end of February.
- Rates were Rs.2,993 on 22nd and Rs.3,037 on 29th.
- Gold rose on the back of firm overseas trends, which brought global rates to strong levels and managed to clock in the highest net monthly gains in the past 4 years.
- Gold started the week weakly, dropping to Rs.2,977 on 23rd before rallying to Rs.3,049 by 26th.
- Prices dropped a little to Rs.3,037 on 27th and remained stable at that level for the rest of the month.
|4th January rate||Rs.2,580|
|31st January rate||Rs.2,756|
|Highest rate in January||Rs.2,772 on 28th|
|Lowest rate in January||Rs.2,550 on 5th|
Jan'16 - Week 1 (4th to 10th)
- Gold prices appreciated by an overall margin of Rs.51 in the first week of trading in 2016 in Lucknow.
- Prices were Rs.2,580 on 4th and Rs.2,631 on 10th.
- There was a drop in rates on 5th when prices fell to Rs.2,550, however gold rebounded the next day to cover the losses by trading at Rs.2,586.
- Gold breached 2,600-mark on 7th when prices rose to Rs.2,612.
- There were more gains in rates on 8th and 9th on account of domestic demand and international cues to take prices up to Rs.2,631.
- Gold was stable at Rs.2,631 on 10th.
Jan '16 - Week 2 (11th to 17th)
- Gold lost Rs.39 in the course of the 2nd week.
- Prices were Rs.2,638 on 11th and Rs.2,599 on 17th.
- Gold declined marginally on 12th and 13th to settle at Rs.2,633.
- Prices fell substantially on 14th by Rs.34 to Rs.2,599 where they stayed for the rest of the week owing to stable gold performance on the global as well as domestic front.
Jan '16 - Week 3 (18th to 24th)
- Gold gained value during the 3rd week of trading in January.
- Prices were Rs.2,655 on 18th and Rs.2,703 on 24th.
- Gold rates fell by Rs.10 on 19th to settle at Rs.2,645 before appreciating over the next 3 days by Rs.67 to touch Rs.2,714 on 22nd.
- Prices fell substantially on 23rd to Rs.2,660 but rallied back to 2,700+ rates by resting at Rs.2,703 on 24th.
Jan '16 - Week 4 (24th to 31st)
- Gold gained value during the 4th week of the month.
- Rates were Rs.2,703 on 25th and Rs.2,756 on 31st.
- Gold rallied to Rs.2,772 by 28th as domestic demand was healthy and global cues pushed gold rates up.
- Prices declined by Rs.70 on 29th and 30th to settle at Rs.2,702.
- Gold gained Rs.54 on the last day of the month to close at Rs.2,756.
1st December rate
31st December rate
Highest rate in December
Rs.2,639 on 5th and 6th
Lowest rate in December
Rs.2,551 on 1st
Dec'15 - Week 1 (1st to 7th)
- Gold prices appreciated in the 1st week of the month in Lucknow.
- t was priced at Rs.2,551 on 1st and Rs.2,597 on 7th.
- Gold rallied on 2nd to cross the 2,600 mark and settled at Rs.2,610 by day end.
- Prices dropped over the next two days by an overall margin of Rs.57 to rest at Rs.2,553 by 4th.
- Gold gained a hefty Rs.86 on 5th to settle at Rs.2,639.
- Prices dropped by Rs.42 on 7th to fall to Rs.2,597.
Dec'15 - Week 2 (8th to 14th)
- Gold rates gained marginal value in the 2nd week of the month.
- Prices were Rs.2,595 on 8th and Rs.2,599 on 14th.
- Gold depreciated to Rs.2,572 on 9th but came back on 10th to Rs.2,581.
- Rates decline by Rs.13 over the next 2 days to settle at Rs.2,568 on 12th.
- There was a substantial rise of Rs.66 on 13th that brought prices up to Rs.2,634.
- Gold dropped by Rs.35 on the last day to end at Rs.2,599 for the week.
Dec'15 - Week 3 (15th to 21st)
- Gold rates dropped in the 3rd week.
- Prices were Rs.2,577 on 15th and Rs.2,554 on 21st.
- Gold depreciated by Rs.12 on 16th to drop to Rs.2,565.
- Rates declined again on 17th and 18th to rest at Rs.2,561.
- Gold gained Rs.8 on 19th and Rs.22 on 20th to rally to Rs.2,591.
- Prices dropped by a significant margin of Rs.37 on 21st to end at Rs.2,554.
Dec'15 - Week 4 (22nd to 28th)
- Gold rates were volatile in the 4th week.
- Rates were Rs.2,565 on 22nd and Rs.2,560 on 28th.
- Prices appreciated by Rs.47 on 23rd to touch Rs.2,612.
- The next 2 days were highly volatile for gold as prices dropped to Rs.2,560 on 24th but rallied back to Rs.2,612 on 25th.
- Prices were stable on 26th before falling to Rs.2,607 on 27th.
- Gold prices fell by Rs.47 on 28th to end the week at Rs.2,560.
Dec'15 - Week 5 (29th to 31st)
- Gold rates were slightly lower in the 5th week.
- Rates were Rs.2,563 on 29th and Rs.2,557 on 31st.
- Gold appreciated marginally on 30th to Rs.2,565 before dropping to Rs.2,557 on 31st.
1st November rate
30th November rate
Highest rate in November
Rs.2,682 on 16th
Lowest rate in November
Rs.2,564 on 19th
- Gold rate declined in the 1st week of November.
- Gold was priced at Rs.2,679 on 1st and Rs.2,621 on 7th.
- Prices hovered around the 2.680 mark for the first 3 days in the week.
- There was a drop of Rs.44 on 4th when prices fell to Rs.2,638.
- There were further marginal drop in rates on 6th and 7th while price was stable on 5th compared to previous day’s figure.
Nov '15 - Week 2 (8th to 14th)
- Gold rates were stable in the 2nd week of the month.
- Rates were Rs.2,621 on 8th and Rs.2,617 on 14th.
- Gold hovered around Rs.2,615 over the next 3 days.
- Gold rate fell by Rs.29 on 13th to rest at Rs.2,600.
- Gold gained Rs.17 on 14th to touch Rs.2,617.
Nov '15 - Week 3 (15th to 21st)
- Gold price at the start and end of the week were constant.
- It was priced at Rs.2,617 on both days.
- Gold gained Rs.65 on 16th before losing out Rs.86 on 17th to rest at Rs.2,596.
- Gold depreciated again on 19th to fall to Rs.2,564 but gained the lost value on 21st to rest at Rs.2,617 again.
Nov '15 - Week 4 and 5 (22nd to 30th)
- Gold rates depreciated on the last two weeks of the month.
- Rates were Rs.2,617 on 22nd and Rs.2,560 on 30th.
- Gold dropped by Rs.27 on 23rd and again by Rs.7 on 24th to settle at Rs.2,573 by 24th evening.
- Prices climbed to Rs.2,617 on 25th before falling to Rs.2,582 on 26th and 27th.
- There was a slight drop in rates on 28th to Rs.2,579 and remained the same on 29th.
- Rates depreciated by Rs.19 on 30th to rest at Rs.2,560 at the end of the month.
1st October rate
31st October rate
Highest rate in October
Rs.2,735 on 22nd
Oct '15 - Week 1 (1st to 7th)
- Prices appreciated in the first week of the month.
- Prices were Rs.2,639 on 1st and Rs.2,657 on 7th.
- Gold gained significant value on 5th when prices rose to Rs.2,677 from Rs.2,612 in a single day.
- Gold lost some value on 7th to settle at Rs.2,657.
Oct '15 - Week 2 (8th to 14th)
- Prices appreciated slightly on the whole in the second week.
- Gold was priced at Rs.2,672 on 8th and Rs.2,682 on 14th.
- Prices gained value on 10th and 13th and lost value on 9th and 14th.
Oct '15 - Week 3 (15th to 21st)
- Prices depreciated slightly overall in the third week of the month.
- Gold was priced at Rs.2,726 on 15th and Rs.2,718 on 21st
- Prices hovered around the 2,720 mark for most of the week and depreciated significantly on to Rs.2,712 on 20th from Rs.2,728 on 19th.
Oct '15 - Week 4 (22nd to 28th)
- Gold lost value in the fourth week of October as per the sample size till 27th.
- It was priced at Rs.2,735 on 22nd and Rs.2,708 on 28th.
- The week starting price of Rs.2,735 was the highest gold rate in Lucknow for October.
- Prices dropped by a margin of Rs.22 on 23rd to rest at Rs.2,713.
- Gold gained some value on 24th at Rs.2,722 before losing out the gains on 26th to settle at Rs.2,704.
Oct '15 - Week 5 (29th to 31st)
- Gold rates saw sustained drop in the final days of October.
- Prices had appreciated to Rs.2,722 on 29th before dropping on 30th to below 2,700 level at Rs.2,699.
- There was some more depreciation on 31st when prices dropped to Rs.2,679.
Gold rate in Lucknow for the month of September started at a high of Rs.2,714. Rates went into a decline from next day onwards and fell to Rs.2,677 by 4th of the month. Prices stabilized somewhat over the next four days, with gold rate on 9th being Rs.2,667. The next three days saw the lowest gold rates for the month of September in Lucknow. Prices bottomed out on 12th at Rs.2,613 before appreciating to Rs.2,679 on 14th.
Gold rates stayed on the level of Rs.2,670-Rs.2,680 to till 23rd of the month. Prices started appreciating from 24th and reached a peak of Rs.2,724 on 25th. This was also the highest gold rate in Lucknow for the month of September. However, prices went on a downward slide from the next day onwards and reached a low of Rs.2,653 on 30th of the month.
Gold rates were volatile throughout the month of September. Overall, there was a drop in rates at the end of the month compared to the beginning. This volatility is expected to continue over the next few days before the festive season kicks in, when prices will likely see sustained appreciation.
Gold bullion is gold that is bought from a certified authority, and is in the form of bars, tablets or standard-sized pieces, used primarily as an invested commodity. These bars, etc. are available at the current price per gram multiplied by the amount of grams you wish to buy. Gold bullion is generally traded in weightages over 500 grams, the most common being 1 kilo. Most gold bullion is internationally tradable, depending on the body from which you purchase the gold.
Gold coins are the most common form of gold investment in Lucknow and the rest of India. While gold bullion is the safer, better and more accepted version of tradable gold, gold coins are far easier to acquire – as they are cheaper, smaller and represent smaller investments. Fluctuations in the price effect bullion and coins in the same way, and the risk and reward will be proportional to the amount of cash invested in gold. Gold coins are available from most gold merchants and the weightages available range from 1 gram to 500 grams.
Jewelry and ornaments are still the largest form in which gold is bought and sold in India. While there are more pure forms of gold that are far more easily tradable, transportable and storable – most Indians prefer to buy gold in the form of jewelry and ornaments. This is to increase the utility of the asset in terms of a daily use item and also as a means of preserving the asset value, should the need arise to sell it.
Fluctuations in the gold price over time can be used as a huge advantage for the investor, if he studies the charts and historical data well. It’s also important to read up on the factors that affect the gold rate, such as the strength of the US Dollar, demand versus supply, international currency movements, etc.
The gold rate fluctuates, and it is during these fluctuations that investors can make money. At the start of April, 2015, the cost for 1 gram of 24 karat gold was Rs.2,649 and went up to Rs.2,738 by the start of May, 2015. By mid-May, the gold rate hit Rs.2,782, and dropped to Rs.2,722 by the start of June. In June, the gold rate had dropped down to Rs.2,697, but has now risen and is plateaued at Rs.2,701 (as on 15th June 2015). Studying these fluctuations is the key to smart investing and eventually growing your finances by investing in gold in Lucknow.
One can purchase gold as an investment, or as jewelry from many stores and traders across the city such as Tanishq Jewellery, P C Jewellers, ORRA, Khaleej Times, Bombay Gold Palace, Painter Gold Stores, J M D Gold Jewellers, Reliance Jewels, etc.
When buying gold in Lucknow, it is highly recommended that you approach a certified and well established dealer, and ensure that the gold is stamped, engraved or in some way certified and determined to be real gold of whichever purity you choose – 22 karat or 24 karat. Make sure that you also get a certificate of authenticity which contains details of purity, rate on the date of purchase and the amount of gold purchased – along with the gold.
Also Check Gold Price in NearBy Cities of Lucknow
|Gold Rate In Meerut||Gold Rate In Ghaziabad||Gold Rate In Kanpur|
|Gold Rate In Varanasi||Gold Rate In Allahabad||Gold Rate In Aligarh|
|Gold Rate In Noida||Gold Rate In Agra||Gold Rate In Bareilly|
- Also Check:Gold Rate in Uttar Pradesh
|Also Know: Silver Rate in Lucknow|
Read more on Gold
- Good Days To Buy Gold In 2017
- Auspicious Days To Buy Gold In 2016
- How Gold Price Is Valuated In India
- Things To Remember Before Buying Gold Jewellery
- Everything You Need To Know About Sovereign Gold Bond Scheme
- What Is Spot Gold?
- For more related news /update on gold price visit: Gold News