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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 November 2017 (rates per gram for 24 karat gold)
November 2017 - Week 1 (1st - 5th)
- The yellow metal’s rates started at Rs.3,006 per gram on the 1st of November, which was a step down from the previous day’s rates.
- As investor demand increased, gold rate in Lucknow rose to Rs.3,020 per gram on the 2nd of November.
- But, as the US dollar strengthened and global cues weakened, gold rates in the city fell to Rs.3,015 per gram on the 3rd.
- On the 4th, gold price in Lucknow went further down to Rs.3,010 per gram as domestic demand fell again to remain in line with the international demand.
- When the week came to an end, gold rates were recorded at Rs.3,010 per gram.
November 2017 - Week 2 (6th - 12th)
- The week began with the gold trading at Rs.3,005 per gram on the 6th.
- With geopolitical tensions rising in the Middle-East, and conflicts between the US and North Korea, investors gravitated towards safe-haven investments pushing demand higher for the metal. This led to gold rates surging to Rs.3,025 per gram on 7th.
- Gold prices in Lucknow surged further the following day as the US dollar declined with investors speculating over possible delays in the US tax reform plan. The metal was priced at Rs.3,035 per gram on the 8th.
- Thanks to steady international demand, gold rates in Lucknow remained unchanged at Rs.3,035 per gram on the 9th.
- The 10th, however, witnessed gold price in Lucknowsurging further to Rs.3,045 per gram - the highest in nearly three weeks - as uncertainties over possible delays in President Trump’s tax reform pushed the dollar lower.
- Steady global, as well as, domestic demand coupled with a strong trend overseas led to rates remained untouched at Rs.3,045 per gram for the remainder of the week.
Trend of Gold Rate in Lucknow for October 2017 (rates per gram for 24 karat gold)
|Parameters||Gold price (24 karat)|
|Gold Rate on 1st October 2017||Rs.3,063 per gram|
|Gold Rate on 31st October 2017||Rs.3,026 per gram|
|Highest Rate in October 2017||Rs.3,072 per gram from 12 to 16 October|
|Lowest Rate in October 2017||Rs.3,026 per gram on 27, 30 and 31 October|
|Overall Monthly Performance||Decline|
October 2017 - Week 1 (1st -7th)
- The yellow metal traded at Rs.3,063 per gram on 1 October as demand from the previous month as well as a low U.S. dollar rate kept pries high.
- Local demand was also on the increase ahead of the festive season, resulting in gold price in Lucknow staying stable for the subsequent day.
- As the equity markets saw a revival in fortunes, the U.S. dollar rate rose and demand for bullion fell.
- Gold traded at Rs.3,043 per gram on 3 October as there was a drop in demand from international buyers, especially Asian buyers.
- The relative calm on the geopolitical front led to plunging demand for gold as the price fell to Rs.3,033 per gram on 5 October.
- While local demand was consistent, it was unable to keep prices from falling further, resulting in gold trading at Rs.3,028 per gram on 6 October.
- The end of the week saw a resurgence of interest in North Korea’s nuclear ambitions, which led to markets falling and a surge in gold prices, which traded at Rs.3,046 per gram on 7 October.
October 2017 - Week 2 (8th -14th)
- Gold prices in Lucknow were on a relative high this week - thanks to increased demand in the domestic market.
- On the 8th of October, gold was priced at Rs.3,046 per gram. With the North Korea- US conflict resurfacing, gold rates in Lucknow rose to Rs.3,057 per gram on the 9th.
- Gold rates in Lucknow surged to Rs.3,062 per gram on the 10th, as a result of uncertainties in the US economy.
- A steady demand saw gold prices remain the same on the 11th, before increasing to Rs.3,072 per gram on the 12th.
- The final two days of this week, i.e., the 13th and 14th saw gold rates stabilise and remain at Rs.3,072 per gram as the US dollar regained some of its lost sheen.
October 2017 - Week 3 (15th - 21st)
- Gold was priced at Rs.3,072 per gram when trade exchanges opened on the 15th of October.
- The price of gold in Lucknow remained unchanged on the 16th before falling to Rs.3,067 per gram, courtesy of favourable returns provided by US treasury bonds.
- A strengthening dollar caused gold rate in Lucknow to drop again on the 18th to Rs.3,056 per gram.
- A less than desirable demand during the pre-Diwali days saw the yellow metal trading at Rs.3,057 per gram on the 19th and the 20th of the month.
- Due to demand slowing down because of subdued demand in domestically, gold rates in Lucknow fell to Rs.3,047 per gram on the 21st of October.
October 2017 - Week 4 (22nd -28th)
- In Lucknow, gold was trading steady at Rs.3,047 per gram on the 22nd, when the week began.
- A strong dollar rate resulted in a subdued local demand from jewellers and investors. This led to gold rate in Lucknow falling to Rs.3,041 per gram on the 23rd.
- The 24th witnessed the dollar weakening as investors refrained from making purchases with possibilities of a new US Federal Reserve chief. This resulted in gold prices surging to Rs.3,046 per gram in Lucknow.
- The dollar, however, recovered the next day with strong equity markets, and the yellow metal was priced at Rs.3,036 per gram.
- Gold rates plunged to Rs.3,031 on the 26th, which further dropped to Rs.3,026 per gram on the 27th as the US dollar dominated over the euro after the European Central Bank’s bond-buying policy was extended against expectations.
- However, gold trade in Lucknow recovered the next day, thanks to increased buying from local jewellers and investors. The yellow metal was priced at Rs.3,036 per gram when trading concluded for the week.
October 2017 - Week 5 (29th- 31st)
- In Lucknow, gold rates started off strongly before falling over the next two days.
- Gold opened at Rs.3,036 per gram on the 29th of October
- There was a drop in gold rate in Lucknow, with the metal trading at Rs.3,026 per gram as local demand remained weak as a result of poor global sales.
- The main reason for this was the two-day FOMC meeting, which led local investors to reduce their investment for the time being.
- On the 31st, when the month ended, gold was priced at Rs.3,026 per gram, with investors still waiting for the Fed Reserve meeting’s outcome before investing.
Trend of Gold Rate in Lucknow for September 2017 (rates per gram for 24 karat gold)
|Parameters||Gold price (24 karat)|
|September 1 Rate||Rs.3,024 per gram|
|September 30 Rate||Rs.3,063 per gram|
|Highest Rate in September||Rs.3,130 per gram on 8 September|
|Lowest Rate in September||Rs.3,024 per gram on 1 September|
|Overall Monthly Performance||Incline|
September 2017 - Week 1 (1st to 10th)
- Gold rates started off on a low for the week in Lucknow because of muted demand from investors and jewellers alike.
- When the week commenced on the 1st, gold was priced at Rs.3,024 per gram.
- Prices surged up slightly to Rs.3,029 per gram on the 2nd and remained unchanged on the 3rd on account of stable purchases.
- News about North Korea’s latest nuclear weapon testing sent world markets crashing, which pushed up safe-haven investments. Gold rates in Delhi went up to Rs.3,105 per gram within a day as investors flocked the trade unions.
- As the markets remained volatile, gold price in Lucknow were holding above Rs.3,100 per gram levels for the remainder of the week.
- On the 5th, prices surged to Rs.3,115 per gram as more investors and jewellers ramped up their purchases. Rates remained the saw on the 6th the market saw demand sustain at the same level.
- The 7th seemed to witness a slight drop in demand, which was evident with the precious metal’s prices dropping to Rs.3,100 per gram.
- With confirmation arriving from North Korea about its ambitious — and potentially threatening — nuclear test, gold prices surged to Rs.3,130 per gram on the 8th.
- The 9th and the 10th saw the yellow metal trade at Rs.3,125 per gram, thanks to prolonged demand from active investors.
September 2017 - Week 2 (11th to 17th)
- Gold began the week trading at Rs.3,105 per gram on 11 September, a drop in price from the previous week due to muted demand from industrial units.
- The lack of local demand and poor offtake from jewellers led to prices dropping to Rs.3,085 per gram on 12 September.
- Ongoing crises in the United States coupled with the hurricanes battering the country’s coasts led to markets dropping, as gold recovered to trade at Rs.3,094 per gram on 13 September.
- The rise in price was momentary as there was a decline in orders from Asian countries which led to the yellow metal falling to Rs.3,085 per gram on 14 September.
- Local demand was sluggish as jewellers reduced offtake due to high prices and unfavourable trends, leading to a stagnation in the price of gold.
- Demand remained constant as the week ended, with gold price in Lucknow was at Rs.3,085 per gram on 17 September.
- Gold rate in Vijayawada started off on a low for the week in Lucknow because of muted demand from investors and jewellers alike.
September 2017 - Week 3 (18th-24th)
- When trading started for the week in Lucknow, gold prices were recorded at Rs.3,073 per gram.
- As demand fluctuated, gold rate in Lucknow fell to Rs.3,056 per gram. Another reason for this was the strengthening US dollar.
- The North Korea - US nexus pushed demand for safe-haven investments, which led to gold rates increasing to Rs.3,078 per gram on the 20th.
- Uneven global cues and a poor local demand pushed gold rates back down to Rs.3,051 per gram on the 21st.
- With the festive season bustle settling in, demand increased. This led to gold rates going up to Rs.3,078 per gram on the 22nd.
- The 23rd and 24th saw gold rate in Lucknow decrease and trade at Rs.3,058 per gram as the US dollar strengthened against other apex currencies.
September 2017 - Week 4 (25th-30th)
- When the final week of September, gold was priced at Rs.3,051 per gram, a considerable decrease from the previous day’s prices.
- However, the approaching festive season pushed demand for the metal up on 26th September. This led to the metal trading at Rs.3,110 per gram.
- As the US dollar strengthened after news about a possible Fed rate hike, gold rate in Lucknow went down to Rs.3,085 per gram on the 27th of the month.
- Gold price in Lucknow fell on the 28th and the 29th for the metal to trade at Rs.3,067 per gram and Rs.3,057 per gram respectively.
- The last day of this week saw demand pick up slightly, which led to the yellow metal trading at Rs.3,063 per gram.
|Parameters||Gold price (24 karat)|
|August 1 Rate||Rs.2,960 per gram|
|August 31 Rate||Rs.2,999 per gram|
|Highest Rate in August||Rs.3,017 per gram on 28 August|
|Lowest Rate in August||Rs.2,930 per gram on 3, and from 5-7 August|
|Overall Monthly Performance||Incline|
August ‘17 - Week 1 (1st to 6th)
- Mirroring trends seen in other cities, gold prices in Lucknow fell sharply over the course of the week due to a combination of factors.
- Gold was priced at Rs.2,960 per gram on 1 August, with trade being robust due to the low U.S. dollar and fluctuating markets.
- Prices dipped marginally on 2 August, with the precious metal trading at Rs.2,955 per gram due to vagaries in demand.
- Gold rate in Lucknow fell sharply on 3 August, trading at Rs.2,930 per gram as markets rose in anticipation of the Fed Reserve’s meeting later in the week, which also pushed the dollar to new highs.
- Prices recovered marginally to trade at Rs.2,940 per gram on 4 August but demand was still muted.
- Overseas demand fell as Asian nations reduced demand due to the high dollar rate, which pushed gold prices to Rs.2,930 per gram on 5 & 6 August.
August ‘17 – Week 2 (7th to 13th)
- In UP’s capital city Lucknow, gold prices started at Rs.2,930 per gram when the week began on the 7th of August.
- Due to a slight increase in demand from local jewellers, prices went up to Rs.2,934 per gram on the 8th and then to Rs.2,939 per gram on the 9th of the month.
- After gold demand surged international due to a stand-off between North Korea and the US, gold prices jumped by Rs.35 to end the 10th at Rs.2,974 per gram.
- As markets began to tank, gold purchases skyrocketed, which led to the the yellow metal trading at Rs.2,999 per gram on the 11th of August.
- Thanks to a subdued interest from domestic investors, gold price in Lucknow remained at Rs.2,999 per gram for the last two days of the week.
August ‘17 - Week 3 (14th to 20th)
- The yellow metal saw a decline in its price towards the end of the third week of August due to declining demand and global demand patterns.
- Gold rate in Lunckonw at Rs.2,994 per gram on 14 & 15 August as demand was stable thanks to a resurgence in local trade.
- Prices fell to Rs.2,979 per gram on 16 August as the U.S. markets rose in anticipation of the U.S. Federal Reserve meeting, but recovered to trade at Rs.2,994 per gram on 17 August on negative cues from the Fed meeting.
- Gold reached Rs.2,999 per gram on 18 August as U.S. markets tumbled following the Charlottesville incident as well as the fallout of the continuing tensions with North Korea.
- Prices stabilised as gold demand dropped to Rs.2,982 per gram on 19 & 20 August, with local demand keeping prices from dropping too low.
August 2017 – Week 4 (21st - 27th)
- Gold rates in Lucknow increased gradually over the course of the week as jewellers lined up to take advantage of a slower US dollar.
- The yellow metal was priced at Rs.2,972 per gram on the 21st of August, which went up to Rs.2,982 per gram on the 22nd as the US-North Korea conflict resurfaced to push dollar further down.
- On the 23rd, gold was trading at Rs.2,987 per gram, which was a result of increased buying from jewellers in the city.
- Domestic rates increased for the fourth time this week to reach Rs.2,992 per gram despite a considerable slowdown in the global scenario.
- From the 25th to the 27th, gold price in Lucknow remained at Rs.2,992 per gram courtesy of a stable demand.
August 2017 – Week 5 (28th - 31st)
- Demand for gold increased in the last week of August, with gold rate in Lucknow was Rs.3,017 per gram on 28 August due to uncertainty after the latest exchanges between the United States and North Korea.
- The impact from Hurricane Harvey also led to markets falling in the U.S., though gold prices dropped marginally to trade at Rs.3,009 per gram on 29 August.
- Local demand was muted in spite of the rupee falling heavily against the U.S. dollar as industry waited for the impact on monetary policy from the central bankers meeting in Jackson Hole the previous week.
- Gold dropped to Rs.3,004 per gram on 30 August following a sustained fall in demand from jewellers and local industry due to high prices.
- Low demand led to gold ending the month at Rs.2,999 per gram on 31 August.
|Parameters||Gold price (24 karat)|
|July 1 Rate||Rs.2,992 per gram|
|July 31 Rate||Rs.2,950 per gram|
|Highest Rate in June||Rs.2,992 per gram on 1 and 2 July|
|Lowest Rate in June||Rs.2,843 per gram on 12 and 13 July|
|Overall Monthly Performance||Decline|
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.
July 2017 - Week 3 (17th to 23rd)
- Lucknow’s gold rates were on the upswing in the third week of July as geopolitical crises as well as the low U.S. dollar led to an increase in demand.
- Gold was priced at Rs.2,863 per gram on 17 July with the price rising to Rs.2,873 per gram on 18 July on strong and consistent demand from overseas.
- The political turmoil surrounding the Trump administration caused some turbulence in the markets, which led to an increase in demand for bullion.
- Price of gold in Lucknow rose to Rs.2,883 per gram on 19 July as local demand also picked up, though it was quite muted.
- Gold price in Lucknow rallied as the week drew to a close, with gold trading at Rs.2,944 per gram on 22 July and the price remaining constant on 23 July.
July 2017 - Week 4 (24th to 31st):
- When the fourth week of July began, gold prices were recorded at Rs.2,944 per gram.
- Prices went down to Rs.2,929 per gram on the 26th as demand took a hit and investors pulled away from investing in the metal.
- The 27th, however, saw gold prices increase by Rs.21 to hit Rs.2,950 per gram as investors seemed to capitalise on US dollar’s poor performance.
- Gold prices in Lucknow went down marginally to Rs.2,945 per gram on the 28th as demand subsided briefly.
- But, as North Korean conflict with the US took centre stage, dollar fell to 13-month lows, which prompted local jewellers to invest in the metal more.
- As a result of this, gold prices went up to Rs.2,955 per gram and traded at the same rate on the 29th and the 30th of July.
- Prices declined to Rs.2,950 per gram on 31st July as local seemed to have reached its highest point.
|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.
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