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Gold Rate in Ludhiana
Ludhiana is one of the major cities in Punjab. Therefore, gold rates in Ludhiana depend on the gold rates persisting in the state of Punjab and closely follows the trend of rates elsewhere in the country. Gold rates in Ludhiana are dynamic and fluctuate every day. Gold is a popular commodity as well as form of investment for the residents of Ludhiana, who invest in gold as a form of hedging against inflation. Gold rates in Ludhiana have been declining this year following the trend of gold prices in the rest of the country.
Gold is popular in the form of jewellery and ornament in Ludhiana. This is true for both the urban and rural populace. Gold rate in Ludhiana varies for different varieties of gold, with the base price considered to be that of gold bullions. Jewelleries and coins usually have higher rates owing to the workmanship costs that get added to the final price of the metal.
Trend of Gold Rate in Ludhiana for November 2016 (rates per gram for 24karat gold)
|1st Day||Rs.3,099 per gram|
|Last Day||Rs.2,929 per gram|
|Highest Price||Rs.3,213 per gram on 5th November|
|Lowest Price||Rs.2,929 per gram on 25th November|
November ‘16 – Week 1 (1st-6th)
- Gold traded at Rs.3,099 per gram on 1st November, with a rise in price the next day.
- On the 2nd of November, 2016, price of gold increased to Rs.3,150 per gram and rose further.
- This rate was maintained until the next day.
- There were minor variations in the rate of gold over the next few days.
- On 5th November, gold traded at Rs.3,213 per gram which was the highest rate of gold during the month.
- This rate was sustained until the end of week 1.
November ’16- Week 2 (7th-13th)
- The price of gold on the first day of week 2 was marginally lower than that of the previous week.
- Gold traded at Rs.3,211 per gram on 7th and remained the same on the next day as well.
- The rate of gold was stable at Rs.3,211 per gram until the 10th of November.
- A marginal decrease was noted in the rate of this precious metal wherein gold traded at Rs.3,071 per gram on the 11th.
- Gold continued trading at Rs.3,071 per gram until the end of the week which was a marginal decline from the rate noted during the beginning of the week.
- The decline in prices could be attributed to Prime Minister Modi’s Demonetization announcement.
November ’16- Week 3 (14th-20th)
- Gold continued trading at Rs.3,071 per gram until the 16th of November.
- There was a slight decline noted in the price of gold on 17th, wherein gold was priced at Rs.3,056 per gram. This rate was sustained until the next day.
- Gold rates plunged after this to touch Rs.2,994 per gram on the 19th which was one of the lowest rates at which gold traded at, for the month.
- This rate was sustained until the end of the week.
- Minor variations were noted in gold rates throughout week 3.
November ’16- Week 4 (21st-27th)
- Low rate of gold continued until the 22nd after which a minor increase in gold prices was noted.
- There were very minor fluctuations noted during the week.
- On November 23rd, gold traded at Rs.3,020 per gram but fell again to Rs.2,971 per gram on 24th.
- The lowest rate of gold was noted on the 25th, which was Rs.2,929 per gram.
- This low rate was sustained until the end of the week.
November ‘16 – Week 5 (28th-30th)
- Gold traded at Rs.2,941 per gram on 28th of November.
- This rate was sustained until the end of the week.
- There was a decline of 5.48% in the rate of gold as compared to the beginning of the month.
|1st Day||Rs.3,205 per gram|
|Last Day||Rs.3,099 per gram|
|Highest Price||Rs.3,205 per gram on 1st to 4th October|
|Lowest Price||Rs.3,088 per gram on 6th October to 25th October|
October 2016 – Week 1 and 2 (1st to 9th)
- Gold traded at a constant pace this week.
- The price of gold in Ludhiana was Rs.3,025 per gram from 1st October to 4th October.
- Prices soon started to decline as demand for gold was muted in the domestic market.
- The U.S. Federal Reserve raised expectations of the interest rate hike which created a reluctant atmosphere in the global market.
- Gold traded at Rs.3,088 per gram from 6th to 9th October.
October 2016 – Week 3 (10th to 16th)
- Demand was muted in the domestic market and gold prices lulled at Rs.3,088 per gram the entire week.
- There was no increase in demand contrary to what was anticipated.
- Expectations of the Fed rate hike were slow this week.
- With the festive season soon approaching, jewellers and retailers are expecting more footfall.
October 2016 – Week 4 (17th to 23rd)
- Gold continued its constant trend from the previous week.
- Gold traded at Rs.3,088 per gram from 17th to 23rd October.
- There was no change in gold prices as demand was stable and did not see any increase.
October 2016 – Week 5 (24th to 31st)
- Gold prices climbed this week to Rs.3,099 per gram on 26th October.
- Prices remained constant for the remainder of the week.
- The dollar was weak in the global market leading to an increase in demand for gold.
- Gold rates in Ludhiana were unaffected by market trends this week.
- There was a decline in gold prices this month by 3.31%.
|1st Day||Rs.3,184 per gram|
|Last Day||Rs.3,217 per gram|
|Highest Price||Rs.3,228 per gram from 07th to 12th September.|
|Lowest Price||Rs.3,184 per gram on 01st and 02nd of September.|
September '16 - Week 1 – (01st to 04th)
- Gold traded at Rs.3,184 per gram on the first day of the week.
- Gold rate traded at the lowest rate for the month on the 01st and 02nd of September when the yellow metal traded at Rs.3,184 per gram.
- Gold rates slightly increased on 03rd September as festive demands from domestic market picked up.
- The yellow metal closed at Rs.3,195 per gram.
September '16 - week 2- (05th to 11th)
- Gold continued to trade at Rs.3,195 per gram on 06th of September.
- As domestic jewellers geared up for the festive season, gold rates spiked and traded at Rs.3,200 per gram on 07th of September.
- Gold further increased and touched the highest gold rate recorded for the month on 07th September and traded at Rs.3,228 per gram.
- Gold traded at the highest gold rate of the month from 07th to 12th of September.
- Overall, an upward curve was noted in gold rates.
September '16 - week 3 (12th to 18th)
- Gold continued to trade at Rs.3,228 per gram on 12th of September.
- This week, an overall decline in gold rates was recorded.
- As industrialist reduced their intake of gold, the prices of gold fell on 13th of september and traded at Rs.3,216 per gram.
- Gold rates reduced further and transacted at Rs.3,205 per gram on 16th of September.
- Due to subdued buying interest, gold drifted further and closed at Rs.3,195 per gram.
September '16 - week 4 (19th to 25th)
- Gold continued to trade at Rs.3,195 per gram on the 19th of September.
- As jewellers shrugged the Fed rate hike speculation and increased their gold intake, a slight increase in gold rates was reported on 20th of September when gold traded at Rs.3,215 per gram.
- Though a slight decrease was reported on 21st of September when gold traded at Rs.3,195 per gram, it quickly managed to capture the centre stage when it bounced back and traded at Rs.3,227 per gram from 22nd to 25th of September.
- The increase was mainly due to the demand from the domestic market.
September '16 - week 5 (26th to 30th)
- Gold rates continued to trade at Rs.3,227 per gram from 26th to 28th of September which is also the second highest gold rate recorded for the month.
- Fed rate hike was postponed due to the upcoming elections in the U.S which helped gold rates remain high.
- Gold rate fell on the 29th of September and traded at Rs.3,207 per gram.
- Gold rated increased on the last day of the month and closed at Rs.3,217 per gram.
- Experts ignore the fall in gold prices this week as they are positive that gold rates will increase during the upcoming festive season.
|First Day||Rs.3,219 per gram|
|Last Day||Rs.3,205 per gram|
|Highest Price||Rs.3,248 per gram on 04th and 10th August|
|Lowest Price||Rs.3,205 per gram from 26th to 31st August|
August '16 - Weeks 1 (1st to 7th)
- Gold opened at Rs.3,219 per gram and remained constant till 03rd of August.
- There was a slight increase in gold rates on the 04th of August as U.S employment data was not yet released. Gold traded at Rs.3,248 per gram which was the highest gold rate recorded for the month.
- Gold rate fell gradually from the 05th of August and settled at Rs.3,206 per gram on 06th and 07th of August.
- Experts geared up to face declining gold rates due to Fed rate hike and positive U.S employment data.
August '16 - Week 2 (8th to 14th)
- Gold rates remained steady on the first day of the week as it continued to trade Rs.3,206 per gram.
- Gold rate once again traded at Rs.3,248 per gram on 10th August and recorded the highest gold rate for the month once more time.
- As U.S federal reserve hinted Fed rate hike in the near future, gold rate started to drift.
- Gold rates declined and settled at Rs.3,226 per gram.
August '16 - Week 3 (15th to 21st)
- Gold rates remained unchanged on 15th of August and sustained at Rs.3,226 per gram.
- Jewellers and coin makers increased their intake of gold on account of the upcoming festivals in India and demand poured in from domestic market.
- Despite weak trend overseas, gold rate slightly increased throughout the week and traded at Rs.3,238 per gram from 18th to 21st of August.
August '16 - Week 4 (22nd to 28th)
- Gold continued to traded at Rs.3,238 per gram from 22nd to 24th of August.
- From 25th of August, gold rates succumbed to firm dollar, strong U.S economy and subdued demand from domestic sport markets.
- Gold prices hit the lowest rate for the month on 26th August when gold traded at Rs.3,205 per gram.
- The declining trend in gold prices can be attributed to the much awaited Fed rate hike.
August '16 - Week 5 (29th to 31st)
- Throughout the last week of August, gold prices remained unchanged.
- Gold continued to trade at Rs.3,205 per gram which is the lowest gold rate recorded for the month of August.
- Gold closed without any major fluctuations at Rs.3,205 per gram on 31st of August.
- Despite gold’s average performance this month, experts predict that the prices for yellow metal will go up in the second half of the year due to the upcoming festivals in India.
|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 on 7th-9th July|
|Lowest Rate in July||Rs.3,163 per gram on 22nd July|
|Overall Performance||Increase in price|
|% Change||+1.64% increase|
July'16 - Week 1 (1st to 3rd)
- Gold prices rose as domestic demand was high, coupled with favourable overseas trends.
- The low Dollar rate spurred sales of gold, while volatile markets drove investors to the safe haven asset.
- Gold traded at Rs.3,203 per gram, an increase of Rs.36 from the beginning of the week.
July'16 - Week 2 (4th to 10th)
- Prices were stable before increasing in spite of markets being bullish.
- The Dollar began to strengthen but strong domestic demand kept prices high.
- Gold traded at Rs.3,227 per gram, an increase of Rs.24 from the start of the week.
July'16 - Week 3 (11th to 17th)
- Prices dropped marginally as the Dollar recovered and markets began to stabilise.
- Lowered demand domestically coupled with weak overseas trends led to prices falling.
- Gold traded at Rs.3,199 per gram at the end of the week.
July '16 - Week 4 (18th to 24th)
- Prices remained unchanged as demand fell.
- A surge in markets led to gold prices sinking to their monthly low of Rs.3,163 per gram.
- Prices stabilised marginally, but gold traded at Rs.3,178 per gram, a decrease of Rs.21 from the start of the week.
July‘16 - Week 5 (25th to 31st)
- Gold prices recovered as data from the U.S. indicating economic growth was slowing down resulted in stocks falling.
- The Dollar dropped in value, resulting in demand for gold increasing by a small margin.
- Prices rose as the week ended, with gold trading at Rs.3,219 per gram, marking a Rs.20 jump in value from the start of the week.
|1st June rate||Rs.2,960|
|30th June rate||Rs.3,167|
|Highest rate in June||Rs.3,182 per gram on 28th June|
|Lowest rate in June||Rs.2,950 per gram on 2nd June|
Jun'16 - Week 1 (1st to 4th)
- Gold opened at Rs.2,960 per gram at the beginning of the week.
- The rate of gold fell by Rs.10 on the 2nd and stayed steady until the end of the week at Rs.2,950 per gram.
Jun'16 - Week 2 (5th to 11th)
- There was a slight increase in price of gold during the second week of the month to Rs.3,003 per gram.
- Price of gold reduced again on the 8th to Rs.2,983 per gram but increased again the next day.
- Gold rate was Rs.3,045 per gram on the 9th and reduced again the next day to Rs.3,006 per gram.
- This rate was maintained until the end of the week.
Jun'16 - Week 3 (12th to 18th)
- Continuing from the previous week, the rate of gold on the 12th was Rs.3,006 per gram.
- Rates increased by Rs.50 the next day to cost Rs.3,056 per gram.
- An additional increase of Rs.10 was seen the next day to Rs.3,066 per gram and this rate was maintained until the 16th of June.
- On the last two days of the week, the price of gold was Rs.3,109 per gram which was the highest for the week.
Jun'16 - Week 4 (19th to 25th)
- The price of gold on the 19th was Rs.3,109 per gram which was the same as the last two days of the previous week and the same rate was maintained until the 20th.
- An increase was seen in gold rate the next day before falling again over the course of the week.
- The price fold varied between Rs.3,120 per gram to Rs.3,098 per gram between the 20th and the 23rd of June.
- This rate was maintained until the 25th.
Jun'16 - Week 5 (26th to 30th)
- Rs.3,098 per gram was the rate of gold for the first two days of the week before increasing quite significantly.
- On the 28th and 29th of June, the price of gold was Rs.3,182 per gram which was also the highest for the month.
- Rate reduced again at the end of the week to close at Rs.3,167 per gram.
|1st May rate||Rs.3,119|
|31st May rate||Rs.2,960|
|Highest rate in May||Rs.3,120 from the 7th to the 9th of May|
|Lowest rate in May||Rs.2,960 from the 28th to the 31st of May|
|Overall performance||Loss / Negative|
May'16 - Week 1 (1st to 7th)
- Gold rates remained constant at Rs.3,119 for the first three days of the week after which a decline by Rs.41 saw prices drop to Rs.3,078 on the fourth day of trading.
- Prices increased by Rs.20 to Rs.3,098 on the 5th and then declined by Rs.20 to fall back to Rs.3,078 on the 6th of the month.
- The last day of the week saw gold rates rise by Rs.42 and finish strong at Rs.3,120.
- In comparison with the first day of the week, prices increased by Re.1 during the first seven days of May 2016.
May ‘16 - Week 2 (8th to 14th)
- Gold rates remained unchanged on the first and second day of the second week and prices were recorded at Rs.3,120 on the 8th of May.
- A decline by Rs.40 on the third day of the week saw prices fall to Rs.3,080 and they remained stable until the end of the week.
- The overall decline in rates from the start of the week to the end of the week was Rs.40.
May ‘16 - Week 3 (15th to 21st)
- Gold rates remained stable at Rs.3,080 on the 15th and 16th of May after which an increase of Rs.18 on the 17th of the month saw prices climb to Rs.3,098.
- A decline by Rs.30 on the 18th pushed prices down to Rs.3,068, and a further decline by Rs.20 on the 19th saw prices fall to Rs.3,048, and they remained unchanged until the end of the week.
- The overall decline in gold prices at the end of the week in comparison with the first day of the week was Rs.32.
May ‘16 - Week 4 (22nd to 31st)
- Gold prices remained stable at Rs.3,048 until the 24th of May, followed by a decline of Rs.30 which sent prices down to Rs.3,018 on the 25th.
- A decline by Rs.10 on the 26th sent rates down to Rs.3,008 and they remained unchanged for another day.
- Prices fell by Rs.48 on the 28th of May, marking the lowest rate of the precious metal during the month, and they remained constant for the rest of the month.
- The overall decline in prices between the first and last day of the month was Rs.159.
|1st April rate||Rs 2,963|
|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||+ 5.26%|
Apr ‘16 - Week 1 (1st to 3rd)
- It was a slow start for gold, as investors preferred to adopt a wait and watch strategy after statements concerning US Federal rate hikes were released.
- Gold traded at Rs 2,963 on 1st.
- An overall drop in rates was witnessed, as prices fell by Rs 20.
- The week ended with gold trading at Rs 2,943.
Apr ‘16 - Week 2 (4th to 10th)
- Demand for gold picked up as markets were slow, resulting in an overall improvement in gold rates.
- Gold traded at Rs 2,943 on 4th, unchanged from the previous week.
- A slight drop in prices was witnessed on 5th, before gold rallied to make a strong comeback.
- Gold rates increased steadily, ending the week on a high, trading at Rs 2,988.
Apr ‘16 - Week 3 (11th to 17th)
- This was a topsy-turvy week for gold, as prices fluctuated around the Rs 3,000 mark.
- The week started on a positive note, with gold trading at Rs 3,013 on 12th.
- This high was followed by a loss, as prices dropped to Rs 2,981 on 14th, staying at this mark till 17th.
- An overall loss of Rs 7 was seen over the week.
Apr ‘16 - Week 4 (18th to 24th)
- Fluctuations in gold rates spilled over, as market conditions impacted rates regularly.
- Gold traded at Rs 3,002 from 18th to 20th, before jumping to Rs 3,017 on 21st.
- Rates remained unchanged till 23rd, post which they fell by Rs 10.
- The week ended with gold trading at Rs 3,007, a minor gain of Rs 5 witnessed.
Apr ‘16 - Week 5 (25th to 30th)
- An overall increase in rates was witnessed over the week.
- Gold traded at Rs 3,007 till 26th, as prices picked up marginally.
- A significant jump was seen on 29th, with gold trading at Rs 3,088.
- The month ended with gold trading at Rs 3,119 on the back of weak global markets.
|1st March rate||Rs 3,030|
|31st March rate||Rs 2,948|
|Highest rate in March||Rs 3,068 on 2nd|
|Lowest rate in March||Rs 2,940 on 15th, 16th and 17th|
Mar'16 - Week 1 (1st to 6th)
- Jewellers across the city began a protest against the government’s decision to increase excise duty on gold, impacting market trade.
- Gold rates which were Rs 3,030 on March 1st increased to Rs 3,068 on 2nd, the highest in the month.
- Prices fell to Rs 3,030 on 3rd and stayed at this mark through the week.
Mar'16 - Week 2 (7th to 13th)
- Protests against the excise duty hike continued, impacting market trade.
- Gold prices stayed constant at Rs 3,030 through the week.
Mar'16 - Week 3 (14th to 20th)
- A few jewellers reopened for business after protests.
- Prices fell from Rs 3,030 to Rs 2,940 on 15th.
- Rates increased to Rs 2,948 on 18th and stayed at this mark through the week.
Mar'16 - Week 4 (21st to 27th)
- Most of the jewellers were now open for business, but there was no major impact on rates.
- Prices remained unchanged from Rs 2,998 till the 24th.
- A slight drop was witnessed on 25th, with rates falling to Rs 2,948.
- There was no further change in the week.
Mar'16 - Week 5 (28th to 31st)
- Prices remained steady through the week.
- Rates were constant at Rs 2,948 till the end of the month.
|1st February rate||Rs.2,712|
|29th February rate||Rs.3,037|
|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)
- Prices were up in the first week of the month.
- Prices were Rs.2,712 on 1st and Rs.2,868 on 7th.
- Gold appreciated al through the week, rising by an overall margin of Rs.156 over the week.
Feb '16 - Week 2 (8th to 14th)
- Gold gained value in the 2nd week.
- Prices were Rs.2,863 on 8th and Rs.3,008 on 14th.
- Gold appreciated to Rs.3,008 by 12th and settled at that rate for the rest of the week.
Feb '16 - Week 3 (15th to 21st)
- Gold declined marginally during the 3rd week.
- Prices were Rs.3,008 on 15th and Rs.2,993 on 21st.
- Gold rose to Rs.3,018 by 19th before sliding to Rs.2,993 on 20th and 21st to end the week on a negative note.
Feb '16 - Week 4 (22nd to 29th)
- Gold performed positively in the last days of February.
- Prices were Rs.2,993 on 22nd and Rs.3,037 on 29th.
- Gold dropped on 23rd to Rs.2,977 before rallying to Rs.3,049 by 26th.
- Prices declined marginally to Rs.3,037 on 28th and 29th to end the month above the psychologically important 3,000-mark.
|4 th January rate||Rs.2,580|
|31 st January rate||Rs.2,756|
|Highest rate in January||Rs.2,772 on 28th|
|Lowest rate in January||Rs.2,580 on 4th|
- Gold rates appreciated during the 1st week of January.
- Prices were Rs.2,580 on 4th and Rs.2,676 on 10th.
- Gold rose on the back of increased domestic demand from jewellers and strong global cues to touch Rs.2,681 by 8th.
- Prices declined marginally to Rs.2,676 on 9th where they remained stable on 10th also.
- Gold was declined in the 2nd week.
- Prices were Rs.2,676 on 11th and Rs.2,655 on 17th.
- Gold was stable at Rs.2,676 till 12th before dropping to Rs.2,639 on 13th.
- Prices appreciated to Rs.2,681 on 14th before settling at Rs.2,655 for the rest of the week.
- Gold rates appreciated in the 3rd week.
- Prices were Rs.2,655 on 18th and Rs.2,703 on 24th.
- Gold was stable at Rs.2,655 till 21st before rising to Rs.2,714 on 22nd and settling at Rs.2,703 for the rest of the week.
- Gold rates appreciated again in the last few days of January.
- Prices were Rs.2,703 on 25th and Rs.2,756 on 31st.
- Gold rose to Rs.2,772 by 28th before dropping to Rs.2,751 on 29th and settling at Rs.2,756 at the end of the month.
|1st December rate||Rs.2,596|
|31st December rate||Rs.2,585|
|Highest rate in December||Rs.2,639 on 5th, 6th, 7th and 8th|
|Lowest rate in December||Rs.2,569 on 18th and 19th|
- Gold rates appreciated in the 1st week of December.
- Prices were Rs.2,596 on 1st and Rs.2,639 on 7th.
- Gold was stable at Rs.2,591 by 4th before rallying by Rs.48 on 5th to touch Rs.2,639.
- Prices were stable for the rest of the week.
- Gold was stable on the whole in the 2nd week.
- Prices were Rs.2,639 on 8th and Rs.2,634 on 14th.
- Gold traded upwards of Rs.2,600 throughout the week, reaching a high of Rs.2,639 on 8th and a low of Rs.2,601 on 11th and 12th.
- Gold rates depreciated in the 3rd week.
- Prices were Rs.2,634 on 15th and Rs.2,591 on 21st.
- Gold lost Rs.65 till 19th when it was trading at Rs.2,569.
- Prices rose by Rs.22 on 20th to settle at Rs.2,591 for the week.
- Gold rates fell again in the last few days of December.
- Prices were Rs.2,612 on 22nd and Rs.2,585 on 31st.
- Gold was stable within the range of Rs.2,601 to Rs.2,612 till 30th, except for 24th when prices dropped below the 2,600 mark to rest at Rs.2,596.
- Gold lost Rs.16 on 31st to end the month and year at Rs.2,585.
|1st November rate||Rs.2,679|
|Highest rate in November||Rs.2,679 on 1st|
|Lowest rate in November||Rs.2,596 on 28th, 29th and 30th|
- Gold rates in Ludhiana depreciated in the first week of November.
- Prices were Rs.2,679 on 1st and Rs.2,621 on 7th.
- Gold rates were positive only for a day in the week, with the first 6 days experiencing consecutive drop in rates.
- Gold rose to Rs.2,621 from Rs.2,619 on 7th.
- Gold was stable in the 2nd week.
- Prices were Rs.2,621 on 8th and Rs.2,617 on 14th.
- Gold dropped to Rs.2,612 on 9th before stabilizing at Rs.2,617 for the remaining part of the week.
- Gold rates were stable in the 3rd week.
- Prices were Rs.2,617 on 15th and Rs.2,617 on 21st.
- Gold rates depreciated in the last few days of November.
- Prices were Rs.2,617 on 22nd and Rs. on 30th.
- Gold lost Rs.19 on 28th to touch Rs.2,596 and stayed there for 29th also.
- There was no change in rates on the last day.
Details of Gold Price in Ludhiana (22 Karat & 24 Karat) - Till August 2015
Gold rate in Ludhiana in 2015 for both 22 karat and 24 karat purities are discussed below:
22 karat gold (price per gram): Gold rate in Ludhiana for 22 karat purity was Rs.2,474 at the start of the year. Prices saw a steep appreciation in the next three weeks and came to a high of Rs.2,607 on 23rd January, also the highest rate this year. Prices in February saw fluctuation from Rs.2,456 at the start of the month to end at Rs.2,607. Prices were stable through March and ranged between Rs.2,382-Rs.2,463. Prices were on a general upward trend through April, with month start and end prices at Rs.2,435 and Rs.2,513 respectively. Prices were relatively stable throughout May except for a mini rally mid-month, which took rates up to Rs.2,566. Gold rates were stable in the range of Rs.2,460 to Rs.2,510 through June. July saw the biggest depreciation of rates this year with prices falling to a multi-year low of Rs.2,289 by the end of the month.
24 karat gold (prices per gram): Prices at the start of the year were at Rs.2,700 level and peaked over the next three weeks to Rs.2,837 on 23rd January. Prices at the start of February were also high at Rs.2,837, however the month saw a general decline in rates before ending at Rs.2,680. March saw more or less stable prices of gold ranging from Rs.2,592 to Rs.2,692. Gold prices were on a general upward swing through the month of April, which started at Rs.2,647 and ended at Rs.2,734. Similarly in May gold rates saw a mini rally and went to a high of Rs.2,792 on 19th May. Prices stayed at the level of Rs.2,680 to Rs.2,730 throughout June. The biggest slide in prices this year was experienced in July, which started at Rs.2,680 and ended at Rs.2,492, the lowest in the past few years.
Gold buying patterns in Ludhiana
Gold id preferred in the physical form in Ludhiana like the rest of the state. Major gold products in the city include:
Over the counter: Gold jewellery is a popular item with the people of Ludhiana. Being one of the prosperous cities in the country, Ludhiana residents have been banking on gold products as investment and savings option. Major jewellers in the city include PC Jewellers, Nikkamal Jewellers, Ganpati Jewellers, Palace Jewellers, Nataraj Jewellers, to name a few. Physical gold is also sold as coins by major banks and private dealers in the city. Gold bullion is sold at base gold rates persisting for the day and are offered by a select few large dealers only.
Traded gold: Gold can also be purchased through spot and futures contracts. These contracts are available in a specified time, with spot contracts preferred by those who want the gold to be delivered at the earliest. Futures contracts lets Ludhiana residents buy gold at current prices and get it delivered at a later rate, thereby shielding them against negative market pressure. Gold ETFs can also be traded at the Bombay Stock Exchange
- Also Check:Gold Rate in Punjab
Also Check Gold Price in NearBy Cities of Ludhiana
|Gold Rate in Delhi||Gold Rate in Lucknow|
|Gold Rate in Chandigarh||Gold Rate in Srinagar|
|Also Know: Silver Rate in Ludhiana|
Read more on Gold
- Importance of Akshaya Tritiya in India
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