*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 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 October 2016 (rates per gram for 24karat gold)
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.
Trend of Gold Rate in Lucknow for September 2016 (rates per gram for 24karat gold)
|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
- Akshaya Tritiya – An Auspicious Day to Buy Gold
- 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