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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 2017 (rates per gram for 24 karat gold)
|Parameters||Gold price (24 karat)|
|Gold rate on 1st November 2017||Rs.3,006 per gram|
|Gold rate on 30th November 2017||Rs.3,026 per gram|
|Highest Rate in November 2017||Rs.3,060 per gram from 18 to 20 November|
|Lowest Rate in November 2017||Rs.3,006 per gram on 1 November|
|Overall Monthly Performance||Incline|
November 2017 - Week 3 (13th - 19th)
- Gold was priced at Rs.3,035 per gram when trading started in Ludhiana for this week.
- Gold rate in Ludhiana jumped to Rs.3,045 per gram as local demand surged considerably. Prices went up again on the 15th to Rs.3,050 per gram as domestic purchasing trend remained strong in spite of weak global cues.
- However, gold prices in Ludhiana fell to Rs.3,040 per gram on the 16th as the US dollar value improved due to high yield from treasury bonds.
- Gold price in Ludhiana fell again to Rs.3,030 per gram on the 17th before seeing a significant rise on the 18th of November.
- The yellow metal traded at Rs.3,060 per gram on the 18th and continued at the same rate on the 19th as demand from local investors remained strong.
November 2017 - Week 4 (20th - 26th)
- Gold opened strongly in Ludhiana before falling over the next two days due to factors concerning the Federal Reserve and its latest meeting.
- On the 20th of November, the yellow metal traded at Rs.3,060 per gram.
- However, rates fell to Rs.3,035 per gram - a Rs.25 decline - as local demand dropped off in all major Asian and European markets.
- Gold rate in Ludhiana went down further to Rs.3,026 per gram on the 23th as US Fed minutes was expected to be revealed to the media.
- Once investors found the Fed rhetoric wasn’t as bad, gold price in Ludhiana surged to Rs.3,046 per gram on the 24th of the month.
- Demand fell on the 25th and prices went down to Rs.3,036 per gram, which continued on till the closing hours of the 26th.
November 2017 - Week 5 (27th - 30th)
- Gold opened at Rs.3,045 per gram for the week in Ludhiana.
- Gold price in Ludhiana dropped to Rs.3,040 per gram the next day because of a poor demand brought about by the Fed chair speech. Rates dropped all over the the world and consequently in India as well.
- A stable demand from local buyers saw gold rate in Ludhiana continue at Rs.3,040 per gram on the 29th of the month.
- The final day of this week saw a significant decrease in gold rates with the metal’s rates falling by nearly Rs.20 to trade at Rs.3,026 per gram.
- The main reason for this drop was the positive data from the US stock market.
Trend of Gold Rate in Ludhiana 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 September 2017||Rs.3,072 per gram from 12 to 16 October|
|Lowest Rate in September 2017||Rs.3,026 per gram on 27, 30 and 31 October|
|Overall Monthly Performance||Decline|
Trend of Gold Rate in Ludhiana for September 2017 (rates per gram for 24 karat gold)
|Parameters||Gold price (24 karat)|
|Gold rate on 1st September 2017||Rs.3,024 per gram|
|Gold rate on 30th September 017||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-10th)
- The first week of September in Ludhiana opened with gold trading at Rs.3,024 per gram on the 1st.
- Gold price in in Ludhiana rose to Rs.3,029 per gram on the 2nd and remained untouched the next day, thanks to steady demand for the metal.
- North Korean nuclear weapon tests led to global markets crashing. This led to an increase in safe-haven investments and gold rates surged to Rs.3,105 per gram on the 4th.
- The 5th witnessed gold rate in Ludhiana rising further to Rs.3,115 per gram with investors and retail jewellers ramping up purchases.
- Prices remained unchanged the next day due to steady demand for the precious metal.
- A drop in domestic demand resulted in gold rates in Ludhiana dropping to Rs.3,100 per gram on the 7th.
- News about North Korea having successfully tested a more powerful weapon broke out and prices surged to Rs.3,130 per gram on the 8th. This was the highest recorded figure for the month of September in Ludhiana.
- The rest of the week witnessed positive demand from investors and stockists and gold was priced at Rs.3,125 per gram.
September 2017 - Week 2 (11th-17th)
- Gold traded at Rs.3,105 per gram on the 11th, when the week began.
- Prices dropped to Rs.3,085 per gram on the 12th as a result of reduced purchases by investors and retailers.
- An incline in global as well as local demand led to gold rates rising to Rs.3,094 per gram on the 13th.
- Gold rates dropped significantly as investors suspended purchases with the US dollar building up. This resulted in gold trading at Rs.3,085 per gram on the 14th.
- The rest of the week saw gold rates in Ludhiana remaining untouched due to poor demand for the yellow metal.
- The week ended with gold trading at Rs.3,085 per gram on the 17th.
September 2017 - Week 3 (18th-24th)
- Gold opened at Rs.3,073 per gram on the 18th, when the week began.
- The strengthening of the US dollar resulted in fluctuating demand for the precious metal, and gold rates dropped to Rs.3,056 per gram on the 19th.
- Safe-haven investments saw an incline as relations between the US and North Korea worsened. This led to prices rising to Rs.3,078 per gram on the 20th.
- However, poor global trade and reduced demand brought gold rates down to Rs.3,051 per gram on the 21st.
- Gold prices in Ludhiana surged to Rs.3,078 per gram on the 22nd as demand for the metal increased with the festive season nearing in.
- The recovery of the US economy coupled with the dollar strengthening reduced gold prices to Rs.3,058 per gram on the 23rd.
- Gold traded at Rs.3,058 per gram the next day with poor but steady demand for the metal.
September 2017 - Week 4 (25th-30th)
- Gold was trading at Rs.3,051 per gram on the 25th, when the last week of September began.
- An increase in festive purchases pushed demand for the metal up and gold traded at Rs.3,110 per gram on the 26th.
- However, gold rates in Ludhiana dropped the next day as the dollar strengthened following the news about a possible Fed rate hike and the metal was trading at Rs.3,085 per gram on the 27th.
- Demand for the yellow metal dropped over the next two days, and prices fell to Rs.3,067 per gram and Rs.3,057 per gram on the 28th and the 29th respectively.
- The last week ended with gold trading at Rs.3,063 per gram on the 30th as demand increased marginally.
|Parameters||Gold price (24 karat)|
|August 1 Rate||Rs.2,926 per gram|
|August 31 Rate||Rs.2,971 per gram|
|Highest Rate in August||Rs.2,999 per gram on 29 August|
|Lowest Rate in August||Rs.2,899 per gram on 3 August|
|Overall Monthly Performance||Incline|
August ‘17- Week 1 (1st to 6th)
- The price of gold in Ludhiana was on the decline as demand fluctuations led to a drop in the price.
- Gold opened the week at Rs.2,960 per gram on 1 August as steady demand from the previous month kept prices stable.
- However, a rise in the dollar rate led to gold price in Ludhiana falling to Rs.2,930 per gram on 3 August.
- The continued low demand from local jewellers and industry kept prices low, though the metal rose to trade at Rs.2,940 per gram on 4 August.
- Stable markets and a recovering Euro led to weakened demand from overseas as the yellow metal ended the week trading at Rs.2,930 per gram on 5 & 6 August.
August ‘17- Week 2 (7th to 13th)
- The second week of August sae gold trade at Rs.2,930 per gram on 7 August, with the price remaining unchanged due to lack of significant trade in the metal over the weekend.
- Gold price in Ludhiana fluctuated due to conflicting cues from different markets, with gold rising to Rs.2,939 per gram on 9 August.
- Demand was on the increase as the U.S. dollar rate was on the decline as internal tensions in the United States fuelled market uncertainty, resulting in gold prices rising to Rs.2,974 per gram on 10 August.
- Higher demand for the precious metal was seen towards the middle of the week as interest from investors rose, pushing prices to Rs.2,999 per gram from 11-13 August.
- While demand from local industry was still poor, there was a slight increase in demand from retail markets due to overseas trends.
August ‘17- Week 3 (14th to 20th)
- Fluctuations in the price of god marked the third week of August, with the metal opening the week priced at Rs.2,994 per gram on 14 August.
- Demand fell sharply to Rs.2,979 per gram on 15 August as local demand fell due to stable markets and the dollar rate rose after a period of instability.
- The relative lack of major geopolitical crises led to markets also beginning to stabilise, which led to lower demand for the safe-haven asset.
- Gold price in Ludhiana rose to Rs.2,999 per gram on 18 August as industrial demand from Asia increased, but prices fell to Rs.2,982 per gram on 19 August as demand stabilised.
- The week ended with gold trading at Rs.2,982 per gram on 20 August as trading in the metal was stable.
August ‘170 Week 4 (21 to 27)
- Gold price in Ludhiana were low as the week began, with gold trading at Rs.2,972 per gram on 21 August due to stable dollar rates.
- The threat of a major hurricane along the U.S. coast led to some market uncertainty but demand for the yellow metal did not fluctuate too steeply.
- Gold was priced at Rs.2,987 per gram on 23 August as local demand began picking up following a sustained period of poor demand.
- There was a gradual increase in the price of the precious metal as the week progressed following the renewal of rhetoric between the U.S. and North Korea.
- Gold rate in Ludhiana surged to Rs.2,992 per gram on 24 August and remained unchanged for the remainder of the week.
August ‘17- Week 5 (28th to 31st)
- The devastation wrought by Hurricane Harvey as well as the possibility of war with North Korea led to U.S. markets plummeting and an increase in demand for safe-haven assets.
- Gold traded at Rs.3,017 per gram on 28 August before prices stabilised to Rs.3,009 per gram on 29 August.
- Local industrial demand was on the rise as conducive market conditions led to an increase in orders, which helped keep prices stable.
- Gold traded at Rs.3,004 per gram on 30 August before ending the month at Rs.2,999 per gram on 31 August.
|Parameters||Gold price (24 karat)|
|July 1st Rate||Rs.2,992 per gram|
|July 31st Rate||Rs.2,950 per gram|
|Highest Rate in July||Rs.2,992 per gram on 1 & 2 July|
|Lowest Rate in July||Rs.2,843 per gram on 12 & 13 July|
|Overall Monthly Performance||Decline|
July ‘17- Week 1 (1st to 9th)
- Unstable markets led to gold price in Ludhiana fluctuating in the first week of July, as the precious metal opened the month at Rs.2,992 per gram.
- Prices dropped to Rs.2,972 per gram on 3 July as U.S. markets recovered from their losses from the previous month.
- The run-up to the G20 summit buoyed the U.S. dollar and stock markets as gold prices plunged to Rs.2,942 per gram from 4-6 July.
- The decline in local demand led to gold rate in Ludhiana falling to Rs.2,902 per gram on 8 July.
- Prices remained low as the week ended on 9 July, with gold continuing to trade at Rs.2,902 per gram.
July ‘17- Week 2 (10th to 16th)
- Gold was priced at Rs.2,902 per gram on 10 July as demand continued to be low as the week began.
- Golf rate in Ludhiana fell to Rs.2,843 per gram on 12 July as local demand was muted based on international trends.
- The U.S dollar fluctuated due to erratic trading but overseas demand was still poor as industry awaited news from the Federal Reserve before increasing orders.
- Gold prices rose marginally to trade at Rs.2,863 per gram on 14 July as jewellers increased orders.
- International demand was also on the increase as the possibility of a rate hike was unfounded, with gold ending the week at Rs.2,863 per gram on 16 July.
July ‘17- Week 3 (17th to 23th)
- Gold price in Ludhiana rose as a combination of falling stock markets and rising industrial demand led to higher trading in the yellow metal.
- Gold traded at Rs.2,863 per gram on 17 July and rose to Rs.2,883 per gram on 19 July as local demand picked up after a lull following the launch of GST.
- Demand spiked as the possibility of a repeal of Obamacare led to U.S. markets crashing, with gold trading at Rs.2,944 per gram on 22 July.
- The sudden rise in price was maintained as local demand also surged, with investors increasing orders due to a low U.S. dollar rate.
- Prices remained constant as the week ended on 23 July, with gold trading at Rs.2,944 per gram.
July ‘17- Week 4 (24th to 31st)
- Prices fluctuated in the last week as demand was subject to stock market fluctuations.
- Gold traded at Rs.2,944 per gram on 24 July as industrial demand from overseas kept prices high.
- Demand reached Rs.2,950 per gram on 27 July as geopolitical tensions led to investors putting their money into safe-haven assets like gold.
- Gold rate in Ludhiana fell to Rs.2,945 per gram on 28 July but soon rose to Rs.2,955 per gram on 29 July.
- There was a minor change in the price as the month ended, with gold priced at Rs.2,950 per gram on 31 July.
- The overall value of gold fell by 1.40% due to poor demand.
|Parameters||Gold price (24 karat)|
|June 1 Rate||Rs.3,012 per gram|
|June 30 Rate||Rs.2,992 per gram|
|Highest Rate in June||Rs.2,057 per gram on 7 June|
|Lowest Rate in June||Rs.2,972 per gram on 27 June|
|Overall Monthly Performance||Decline|
June ‘17- Week 1 (1st to 4th)
- Gold price Ludhiana increased in the first week of June as demand from overseas as well as local jewellers was high, as the metal opened the week at Rs.3,012 per gram on 1 June.
- There was no change in the price as demand was stable, with the falling U.S. dollar helping prices remain steady.
- Prices rose by Rs.10, trading at Rs.3,022 per gram on 3 June as U.S. markets tumbled due to geopolitical tensions in the continental U.S.
- The week ended with gold trading at Rs.3,022 per gram on 4 June.
June '17- Week 2 (5th to 11th)
- The price of gold in Ludhiana increased in the second week as local demand was on the rise, trading at Rs.3,037 per gram on 5 June.
- Gold rose to Rs.3,057 per gram on 7 June as demand climbed as the U.S. dollar continued to drop due to poor trading in the currency on the bourses.
- The release of positive U.S. jobs data led to demand for gold falling to Rs.3,042 per gram on 8 June.
- Demand slipped to Rs.3,017 per gram on 9 June as markets rallied following the positive market trends and increase in job creation.
- Gold price in Ludhiana continued to fall, trading at Rs.3,007 per gram on 10 & 11 June due to lowered demand from the domestic retail sector.
June ‘17- Week 3 (12th to 18th)
- The price of gold was muted in the third week as overseas demand was sluggish due to a recovering U.S. dollar rate.
- Gold traded at Rs.3,007 per gram on 12 June, with the price remaining unchanged till 15 June.
- Tensions between North Korea and the United States led to some instability, though markets did not react adversely.
- Local demand began to rise as consumers bought gold ahead of the implementation of GST, which would increase prices.
- In spite of the rise in local demand, gold price in Ludhiana fell to Rs.2,992 per gram on 16 June before ending the week at Rs.2,982 per gram on 18 June.
June ‘17- Week 4 (19th to 25th)
- Gold traded at Rs.2,982 per gram on 19 June due to poor demand from overseas industrial units and a lowering of demand from investors.
- Gold price in Ludhiana began to rise marginally towards the middle of the week as Asian investors renewed interest in the yellow metal, pushing prices to Rs.2,987 per gram on 23 June.
- Local demand was steady but did not appear to impact overall prices much, as gold traded at Rs.2,992 per gram on 24 June.
- Demand was stable and prices did not change on the last day of the week, trading at Rs.2,992 per gram on 25 June.
June ‘17- Week 5 (26th to 30th)
- Gold rate in Ludhiana rose to Rs.3,002 per gram as the week began on 26 June, as local retail demand boosted prices.
- Poor demand from overseas due to steady markets led to gold price in Ludhiana dropping to Rs.2,992 per gram on 27 June.
- Industrial units had saturated demand for the yellow metal, leading to stagnant demand and no change in the price of gold.
- The month ended with gold trading at Rs.2,992 per gram on 30 June and losing 0.66% in its value.
|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 May 1st|
|Lowest Rate in May||Rs.2,918 from 11th May to 15th May|
May ’17 – Week 1 (1st – 7th)
- Gold opened at the market on the 1st week of May on a high note in Ludhiana, trading at an aggressive Rs.3,011 per gram on 1st of May. This was the highest rate in the month.
- The price remained the same on the next day.
- The price slumped on 3rd May to Rs.2,982 per gram due to increase in the US Dollar rate and other geopolitical developments.
- The price further fell to Rs.2,952 per gram in Ludhiana, a slight drop by Rs.30 per gram, due to a drop in global demand.
- The price remained the same until the end of the 1st week of May.
- The price of the precious yellow metal declined over the course of the week. It started out on a high note and came dwindling down to Rs.2,952 per gram on 7th May, the last day of the week.
- This decrease in price can be attributed to the gradual fall in demand for safe-haven assets.
May ’17 – Week 2 (8th – 14th)
- The week opened at a cautious Rs.2,942 per gram. The price in the second week remained comparatively stable with certain minor fluctuations.
- The price of gold in Ludhiana remained the same on 9th May, influenced by the strengthening Euro after Emmanuel Macron made it as a winning candidate in the presidential election in France.
- The price dipped on 10th May to Rs.2,928 per gram, falling again the next day to Rs.2,918 per gram.
- The price of gold stabilized and remained at Rs.2,918 per gram from 11th May to 14th May due to geopolitical developments
May ’17- Week 3 (15th – 21st)
- As gold markets stabilized during the course of the previous week, gold opened at Rs.2,918 per gram on 15th May. This is the same price at which it closed in the previous week.
- The price picked up on 16th May, reaching Rs.2,923 per gram due to the weakening of the US Dollar rate after weak US manufacturing data.
- Over the course of the week, the price of the precious yellow metal continued to rise, influenced by a weaker US Dollar. The price increased to Rs.2,939 per gram on 17th May and further rose to Rs.2,991 per gram on the next day.
- Gold hit the market on a low note on 19th May at Rs.2,977 per gram. This is a drop by Rs.14 per gram from the previous day due to a rise in the US Dollar rate and other geopolitical developments involving US and Russia.
- Gold traded at the market at the same price on the next day as markets remained largely stable.
May ’17 – Week 4 (22nd – 28th)
- The precious metal traded on the first day of the 4th week of May at Rs.2,977 per gram. The price remained stable for most of the week and surged during the last three days.
- The price remained the same from the next day until 25th May due to various factors such as demand forces being constant, the Manchester blast and other political controversies involving US President Donald Trump.
- On 26th May, gold traded higher, at Rs.2,992 per gram, an increase by Rs.15 per gram from the previous day’s price of Rs.2,977. This increase is attributed to the fall in US Dollar rate after a US Federal Reserve meeting, where interest rates were downplayed.
- The price remained at Rs.2,992 per gram until the end of the week as demand forces and markets remained largely stable.
May ’17 – Week 5 (29th – 31st)
- Gold hit the market at Rs.2,992 per gram, trading stably due to weakening stock markets and geopolitical developments.
- In the last week of May, the price remained the same at Rs.2,992 per gram on 29th, 30th, and 31st of May.
- The price of the precious metal declined in May due to various factors such as the French presidential elections, changes in local demand and political developments surrounding the US.
- There was an overall decline by -0.63%.
|April 1st Rate||Rs.3,011 per gram|
|April 30th Rate||Rs.3,061 per gram|
|Highest Rate in April||Rs.3,061 per gram on 29th and 30th April|
|Lowest Rate in April||Rs.3,011 per gram from 1st to 3rd|
April 2017 - Week 1 (1st - 9th)
- In Ludhiana, gold rates remained above Rs.3,000 per gram for the entire month, thanks to sustained demand in the local market.
- The 1st saw gold trading at Rs.3,011 per gram - and as demand didn’t fluctuate - rates remained the same till the 3rd of the month.
- Due to tensions ramping up in the middle east after some hands-on involvement by the US, gold rates began to rise.
- The US government lead by President Donald Trump decided to reply to the gas attacks allegedly orchestrated by the Syrian government, which sent the market into a frenzy.
- As concerns over a possible crash in the market, gold rates went up to Rs.3,043 per gram on the 4th.
- However, as optimism of a good period kicked on despite no demand, gold prices remained at Rs.3,043 till the end of the week on the 9th.
April 2017 - Week 2 (10th - 16th):
- The second week saw gold rates dip down to Rs.3,025 per gram due to some corrections and a sustained demand from the domestic market.
- Gold rates remained at Rs.3,025 per gram from the 11th to the 16th as there was no change in demand among jewellers in the city.
- However, too much optimism during this week meant that gold rates were headed down for a drop over the coming weeks.
April 2017 - Week 3 (17th - 23rd):
- On the 17th, gold was still priced at Rs.3,025 per gram -unchanged from the previous week’s closing prices - as there was no change in demand.
- Rates didn’t change for the next six days as well as local traders from various sectors didn’t particularly feel the need to invest in the bullion market.
- The week ended with gold prices holding at Rs.3,025 per gram.
April 2017 - Week 4 (24th - 30th):
- On the 24th, when the fourth week began, gold was still trading at Rs.3,025 per gram and went on at the same rate during the 25th as well.
- As demand went up slightly on the 26th, gold prices increased to Rs.3,036 per gram as concerns over US policies rose.
- The change as seen on 26th was the second change in over two weeks’ period as the market saw its first significant change in as long a time.
- The 27th saw gold rates increase again, this time by Rs.12 to hit Rs.3,048 per gram as local jewellers and consumers began to take stock of the rising demand.
- On 29th, rates went up for the third time this week, to increase to Rs.3,061 per gram.
- The last day of April again saw gold prices remain the same at Rs.3,061 per gram as there was sustained demand for the metal.
- Ludhiana saw gold price trends increase at the rate of 1.66% - one of the highest inclines for the month of April around the country.
|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 and 2nd March|
|Lowest Rate in March||Rs.2,950 per gram on 15th of March|
March 2017 - Week 1 (1st - 5th):
- Gold rate in Ludhiana for March began on a high in Ludhiana but went down over the course of the next 4-5 weeks.
- On 1st March, during the midweek, gold was trading at Rs.3,009 per gram, which didn’t change on the 2nd.
- Rates during the first two days were the highest gold would hit for the month of March.
- As demand seemed to go down owing to a strengthening dollar, gold prices went down to Rs.2,990 per gram on 3rd.
- For the subsequent two days gold rate in Ludhiana sustained at Rs.2,990 per gram as demand didn’t fluctuate by much.
March 2017 - Week 2 (6th - 12th):
- When the second week of March began on 6th, gold rates had changed as it remained at Rs.2,990 per gram - the same as the previous day.
- However, gold rate in Ludhiana saw one of its sharpest decline for the month as global demand took a tumble, bringing prices down to Rs.2,970 per gram on 7th.
- The decline, though, was short lived as rates bounced back to increase by Rs.23 to close at Rs.2,993 per gram on 8th.
- This week witnessed considerable fluctuations which was evident from another slump in gold price in Ludhiana on 9th.
- Rates went from Rs.2,993 per gram to Rs.2,977 per gram - a decrease of Rs.16 - as market volatility was at its best.
- Unlike the previous instance, there was no bouncing back this time as a lack of demand brought bullion prices further down to Rs.2,965 per gram.
- The last two days of March week 2, however, showed some respite as rates picked up slightly to end the week at Rs.2,971 per gram.
March 2017 - Week 3 (13th - 19th):
- The third week of March was a rather topsy-turvy period for gold rates.
- On 13th, gold was selling at Rs.2,971 per gram but dropped down by Rs.2,951 per gram on the 14th.
- When trading began on 15th, prices went down marginally to Rs.2,950 per gram but went back up, thanks to a rise in demand to Rs.2,960 per gram on 16th.
- Rates again went up on the 17th to hit Rs.2,970 per gram as prices seemed to go back to where they started.
- Over the last two days of March week 3, gold was trading at Rs.2,971 per gram - marking a change of 0% for the week.
March 2017 - Week 4 & 5 (20th - 31st):
- The last two weeks of March 2017 were again a bit of a tumultuous period for gold rates.
- This was the period when several altercations in Syria brought about strong responses from the US, which helped the markets go up.
- On 20th, gold was priced at Rs.2,976 per gram, which continued on the 21st as well.
- The 22nd saw gold price in Ludhiana gain the highest - an increase of Rs.27 - to end the day at Rs.3,003 per gram.
- Although, gold prices remained unchanged on 23rd, they went down to Rs.2,993 per gram on the 24th and didn’t change till the 26th.
- On 27th, rates again went back to Rs.3,003 per gram - only to continue at the same rate till the penultimate day of the month.
- The last day of March 2017 saw gold prices fall by Rs.12 to end the month at Rs.2,991 per gram.
- In Ludhiana, gold prices declined slightly by just 0.59% for the month of March.
|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 to 27th February|
|Lowest Rate in February||Rs.2,957 per gram on 4th to 7th February|
February 2017 - Week 1 (1st - 4th):
- In Ludhiana, the first week of February started relatively slow.
- On 1st, gold was trading at Rs.2,978 per gram.
- As there was no change in demand, gold prices remained largely the same for much of week 1.
- Gold was still trading at Rs.2,978 per gram on 2nd and remained unchanged on 3rd.
- However, rates fell by Rs.21 to reach Rs.2,957 per gram.
February 2017 - Week 2 (5th-11th):
- When week 2 began on 5th, gold was still trading at Rs.2,957 per gram and maintained the same rate on 6th as well.
- Rates jumped up significantly on 7th by Rs.42 to reach Rs.2,999 per gram and went up again to Rs.3,009 per gram on 8th.
- Prices remained unchanged on the 9th and 10th, for the metal to trade at Rs.3,009 per gram, as no fluctuations were seen.
- The week ended on a decline as gold prices in Ludhiana took a hit to go down to Rs.2,983 per gram.
February 2017 - Week 3 (12th-18th):
- The third week of February saw gold prices in Ludhiana fluctuate quite a bit.
- On 12th, gold was trading at Rs.2,983 per gram but went down to Rs.2,973 per gram when trading began on the 14th.
- The 15th saw prices remained unchanged before they increased to reach Rs.2,989 per gram - an increase of Rs.16.
- Prices increased again on the 17th to go up to Rs.3,004 per gram as domestic demand rose but slumped down to Rs.2,999 per gram on 18th.
February 2017 - Week 4 & 5 (19th-28th):
- The last two weeks of February saw gold prices in Ludhiana remain more or less the same, barring a couple of changes along the way.
- On 19th, gold was trading at Rs.2,999 per gram and, as a result of no fluctuations, was still trading at Rs.2,999 per gram when business day ended on 24th.
- As US dollar began to weaken slightly and as domestic demand increased, gold rates went up to Rs.3,031 per gram per gram on 25th.
- Gold rates remained unchanged for the next three days as it was still trading at Rs.3,031 per gram.
- February saw gold price trends in Ludhiana go up by 1.41%.
|January 1st Rate||Rs.2,844 per gram|
|January 31st Rate||Rs.2,930 per gram|
|Highest Rate in January||Rs.2,979 per gram on 23rd & 24th January|
|Lowest Rate in January||Rs.2,844 per gram on 1st to 3rd January|
January 2017 - Week 1 (1st - 7th):
- In Ludhiana, when the first week of January began, gold was trading at Rs.2,844 per gram and remained there till the closing hours of 3rd.
- The rate between 1st and 3rd was the lowest gold rate for the month meaning there was a positive forecast the month.
- On 4th, prices went up by Rs.11 to hit Rs.2,855 per gram increased by Rs.11 on 5th again to reach Rs.2,866 per gram’.
- Rates didn’t change on 6th and 7th as there was no major implications that drove gold prices up and down in the domestic market.
January 2017 - Week 2 (8th - 14th):
- When week 2 began, gold prices were still holding on at Rs.2,866 per gram and remained unchanged on the 9th.
- Prices, however, increased by Rs.22 to reach Rs.2,888 per gram on 10th and increased once more to hit Rs.2,908 per gram on 11th, owing to an increase in demand.
- The 12th also saw prices increase by Rs.16 to end the day’s gold trade at Rs.2,925 per gram.
- On 13th, however, prices dipped by Rs.5 per gram to bring rates down to Rs.2,920 per gram.
- Prices increased on the last day of week 2 as they went up to hit Rs.2,941 per gram.
January 2017 - Week 3 (15th - 21st):
- Prices still remained the same as on 15th as gold was still trading at Rs.2,941 per gram.
- On 16th, prices increased for gold to trade at Rs.2,952 per gram and remained the same on the 17th.
- Prices again increased on the 18th to reach Rs.2,973 per gram but fell to Rs.2,959 per gram on the 19th.
- Prices fell on 20th to hit Rs.2,952 per gram before increasing by Rs.11 on the 21st to end the week at Rs.2,963 per gram.
January 2017 - Week 4 and 5 (22nd - 31st):
- The last week of January saw quite a few fluctuations as markets kept changing tack.
- On 22nd, gold was trading at Rs.2,963 per gram and then increased to Rs.2,979 per gram on the 23rd before continuing at the same rate on the 23rd.
- The 24th saw gold prices go down by Rs.1 per gram to hit Rs.2,978 per gram and remained there on the 25th as well.
- Business day on 26th was affected by strengthening dollar as prices fell by Rs.32 to go down to Rs.2,946 per gram.
- Prices increased by Re.1 over the next two day to bring trading prices to Rs.2,947 per gram.
- At the end of the month, gold was trading at Rs.2,958 per gram.
- Overall, gold prices went up by 3.02% for the month of January.
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|
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