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Gold Price In Meerut
One of the oldest cities in India, and the base for a lot of freedom movements against the British since the 1850s, Meerut has now grown to become the largest manufacturer and distributor of sporting goods and musical instruments in the country. A city mentioned in countless mythological tales and steeped in the magic of pre-history, Meerut has also been the destination for a number of archaeological digs which found settlements dating back to the Indus Valley Civilization.
The people residing in Meerut have a greater affinity for gold than most other Indians, as tales of the inherent value of gold and its rarity have been passed down generations, and a large amount of the gold here is in the form of family heirlooms and ancient gold artefacts.
Residents of Meerut are moving towards a more progressive approach to buying gold for various reasons now, however, as gold is being viewed more as an investment that can generate long term returns, rather than just as ornamentation or jewellery.
Gold Rate Trend in Meerut for January 2020 to March 2020 (per gram of 24 karat gold)
|1st Day||Rs.3,995 per gram||Rs.4,169 per gram||Rs.4,274 per gram|
|Last Day||Rs.4,169 per gram||Rs.4,368 per gram||Rs.4,253 per gram|
|Highest Price||Rs.4,211 per gram on 9 January||Rs.4,394 per gram on 25 and 26 February||Rs.4,536 per gram on 7 March|
|Lowest Price||Rs.3,995 per gram on 1 January||Rs.4,116 per gram on 7 February||Rs.4,111 per gram on 20 March|
Quarterly Gold Rate in Meerut from January 2020 to March 2020:
- In Meerut, January was a month where the gold prices had seen an increasing trend. The prices of gold had stood at Rs.3,995 per gram on 1 January and on 31 January, the rates were Rs.4,169 per gram. The performance of the precious for the month had represented a 4.35% incline. In this city, the prices of gold had reached the highest for the month on 9 January as a gram of the metal had cost Rs.4,211. The hike in the rates can be associated with the U.S. dollar staying on the backfoot as a lot of progress had been made when it came to the US-Sino trade deal. A lot of optimism about the signing of the treaty between Beijing and Washington coupled with the easing of tensions in the Middle East had led the prices of gold to dip. On 20 January, the yellow metal had been traded at Rs.4.074. In the last week of January, the prices of gold had hiked up and had then dipped to Rs.4,116 per gram by 30 January. This dip in prices was because the World Health Organization (WHO) had declared a world health emergency as the number of coronavirus cases across the world increased.
- Gold prices had shown an incline and opened February at Rs.4,169 per gram. The metal had then seen a hike in its price to Rs.4,195 per gram by 4 February. This can be owed to the increase in demand as this month is a wedding season across the country. The prices of gold had increased by 13 February to Rs.4,169 per gram on 14 February and had then further hiked up to Rs.4,211 per gram by 16 February. The rates of the yellow metal had skyrocketed because of high safe-haven demand as South Korea had reported many new cases of the coronavirus. During the last week of the month, gold rates had hiked up and this had led to the metal reaching its highest price at Rs.4,395 per gram by 25 February. However, due to constant fluctuations and high prices, traders had decided to book profits on gold. The profit-booking had driven the rates of the yellow metal to fall and eventually close at Rs.4,368 per gram by 29 February.
- During the month of March, the metal had gone through a decline of 0.49% in its price. Gold had been priced at Rs.4,274 per gram by 1 March and in 2 days’ time, by 3 March, the rates of the metal had increased to Rs.4,284 per gram. With this increase in the rates, the precious metal had been recovering from a huge decline, led by the traders waiting for potential interest rate cuts by the U.S. Federal Reserve. On 8 March, the metal had been priced at Rs.5,510 per gram. One gram of the metal had been priced at Rs.4,237 by 16 March. The rates had then fallen because the traders had decided to go into a selling spree. They had sold their yellow metal and wanted to hoard cash. This was an attempt to meet the margin calls. By 20 March, gold had touched its lowest for March. The metal had been sold at Rs.4,111 per gram. This fall in price was due to investors liquidating their positions in the metal despite the constant measures from central banks to absorb the impact of the coronavirus. The last week of this month had witnessed the rates of the metal remain constant. Starting from 22 March till 31 March, the rates of gold had remained at the same figure, Rs.4,253 per gram.
Gold Rate Trend in Meerut for October 2019 to December 2019 (per gram of 24 karat gold)
|1st Day||Rs.3,864 per gram||Rs.3,938 per gram||Rs.3,906 per gram|
|Last Day||Rs.3,927 per gram||Rs.3,869 per gram||Rs.3,995 per gram|
|Highest Price||Rs.3,953 per gram from 26 October to 29 October||Rs.3,974 per gram on 3 and 4 November||Rs.4,001 per gram on 29 and 30 December|
|Lowest Price||Rs.3,801 per gram on 2 October||Rs.3,869 per gram on 29 and 30 November||Rs.3,848 per gram on 14 December|
Quarterly Gold Rate in Meerut from October 2019 to December 2019:
- In Meerut, the price of gold opened the month of October at Rs.3,864 per gram and showed a steady incline in prices throughout the month. Geopolitical factors such as the trade tensions between China and the United States of America lowered risk appetite amongst investors, shifting the focus to the bullion. With the increasing demand, the price of the metal hit its monthly high at Rs.3,953 per gram from 26 October to 29 October. The metal closed the month at a percentage incline of 1.63 at Rs.3,927 per gram.
- November was not a good month for investors focusing on the bullion for their investments. As China took initiative to mend the trade tensions, the price of the metal opened the month at Rs.3,938 per gram. The highest price of the metal hit its highest price at Rs.3,974 per gram on 3 November and 4 November. As the United States Federal Reserve cut the interest rates all over again, investors shifted focus to the stock market with the support of a strong dollar and positive U.S. jobs data. The metal closed the month at Rs.3,869 per gram with a decline of 1.75%.
- December proved to be beneficial for the investors looking to invest in the bullion market. As the tensions between the United States of America and China eased, there were renewed geopolitical tensions between the former and Iran. With the U.S. launching a drone strike in Iran, killing an Army official, the stock markets and the dollar saw a fall in value. Opening the month at Rs.3,906 per gram. With the impeachment inquiry on President Trump, the price of the metal closed at Rs.3,995 per gram with a percentage incline of 2.27.
Gold Rate Trend in Meerut for July 2019 to September 2019 (per gram of 24 karat gold)
|1st day||Rs.3,302 per gram||Rs.3,402 per gram||Rs.3,738 per gram|
|Last day||Rs.3,381 per gram||Rs.3,749 per gram||Rs.3,665 per gram|
|Highest price||Rs.3,428 per gram on 20 July||Rs.3,770 per gram on 30 August||Rs.3,801 per gram on 6 September|
|Lowest price||Rs.3,271 per gram from 3 July||Rs.3,371 per gram on 2 August||Rs.3,663 per gram on 21 September|
Gold Rate Trend in Meerut for April 2019 to June 2019 (per gram of 24 karat gold)
|1st day||Rs.3,266 per gram||Rs.3,266 per gram||Rs.3,276 per gram|
|Last day||Rs.3,271 per gram||Rs.3,276 per gram||Rs.3,486 per gram|
|Highest price||Rs.3,276 per gram on 28-30 April||Rs.3,313 per gram on 15 May||Rs.3,502 per gram on 25 - 27 June|
|Lowest price||Rs.3,245 per gram from 20-22 April||Rs.3,224 per gram on 24 May||Rs.3,276 per gram on 1 June|
Gold Rate Trend in Meerut for January 2019 to March 2019 (per gram of 24 karat gold)
|1st day||Rs.3,234 per gram||Rs.3,392 per gram||Rs.3,402 per gram|
|Last day||Rs.3,397 per gram||Rs.3,428 per gram||Rs.3,266 per gram|
|Highest price||Rs.3,397 per gram on 31 January||Rs.3,465 per gram on 21 February||Rs.3,402 per gram on 1 March|
|Lowest price||Rs.3,234 per gram on 1 and 2 January||Rs.3,360 per gram on 14 February||Rs.3,239 per gram on 30 March|
Gold Rate Trend in Meerut for January 2019:
- A rise in jeweller demand and a weak U.S. dollar increased interest in bullion locally as gold prices in Meerut rose after a staid opening of Rs.3,234 per gram, climbing to Rs.3,276 per gram on 6 January.
- Rising uncertainty due to Brexit and the ongoing U.S. government shutdown dented the U.S. dollar and increased investor interest in bullion as gold rose to Rs.3,297 per gram on 11 January.
- A decline in overseas demand failed to cap gold’s gains as local demand boosted rates to Rs.3,334 per gram on 18 January but a firm dollar rate and increasing risk appetite saw prices drop to Rs.3,308 per gram on 23 January.
- A late rally fuelled by rising industrial orders saw the yellow metal surge to Rs.3,355 per gram on 29 January with the gain continuing as the month ended with gold priced at Rs.3,397 per gram.
Gold Rate Trend in Meerut for February 2019:
- Weak equities resulted in gold prices in Meerut opening at a steady Rs.3,392 per gram and rising further to Rs.3,418 per gram on 6 February on steady local and industrial demand.
- Prices dipped briefly on conflicting overseas cues due to the ongoing Sino-U.S. trade talks as the precious metal fell to Rs.3,386 per gram on 9 February further dropping to Rs.3,360 per gram on 14 February.
- Hopes of a trade deal between the U.S. and China boosted bullion as gold rose to Rs.3,428 per gram on 20 February which in turn buoyed local demand, as the yellow metal inched higher to Rs.3,434 per gram on 24 February.
- Fluctuations in the U.S. dollar rate capped gains as the month drew to a close, resulting in the metal falling slightly to Rs.3,428 per gram on 28 February.
Gold Rate Trend in Meerut for March 2019:
- Declining local demand and a slip in jeweller offtake saw gold rates in Meerut opening weak at Rs.3,402 per gram, as a recovering U.S. dollar also pressured bullion which saw prices drop to Rs.3,276 per gram on 8 March.
- Positive U.S. payrolls data encouraged riskier asset offtake as bullion lost its appeal, though steady local demand capped losses as gold traded at Rs.3,302 per gram on 15 March.
- Continued fluctuations in overseas industrial offtake and weak jeweller demand saw bullion prices drop to Rs.3,260 per gram on 20 March amidst profit taking by investors.
- Fears over an impending global recession raised gold’s profile as investor interest in the metal boosted prices to Rs.3,308 per gram on 26 March but prices fell marginally to end the month at Rs.3,266 per gram.
Gold Rate Trend in Meerut for October 2018 to December 2018 (per gram of 24 karat gold)
|1st day||Rs.3,140 per gram||Rs.3,255 per gram||Rs.3,108 per gram|
|Last day||Rs.3,260 per gram||Rs.3,124 per gram||Rs.3,239 per gram|
|Highest price||Rs.3,271 per gram on 25 October||Rs.3,266 per gram on 7 November||Rs.3,260 per gram on 12 and 13 December|
|Lowest price||Rs.3,140 per gram on 1 October||Rs.3,124 per gram on 30 November||Rs.3,108 per gram from 1 to 3 December|
Gold trend in Meerut for October 2018
- In Meerut, the price of gold opened the month of October at Rs.3,140 per gram and increased throughout the month due to the fall in the value of the dollar.
- Post the US-China trade war, the markets weakened, leading to the rise in demand of the metal on a global scale.
- The lowest rate of gold in Meerut was on 1 October 2018. However, the price increased through the rest of the month as investors shifted focus to the bullion as the value of the dollar weakened.
- The highest rate of the metal was on 30 October and 31 October at Rs.3,271 per gram resulting in a percentage incline of 3.82%.
Gold trend in Meerut for November 2018
- The trend of the metal in November was a downward one in Meerut due to a decrease in demands and the strengthening of the dollar in the global markets.
- On 1 November 2018, the price of gold was Rs.3,255 per gram and inclined steadily till 7 November 2018, priced at Rs.3,266 per gram before decreasing throughout the month.
- In the global market, the dollar came back stronger this month when compared to the previous month’s downfall. Since the value of the dollar increased, the rupee weakened and resulted in low demand for the metal in the local markets. This, in turn, led to the decrease in gold’s value.
- The lowest price of gold was at the end of the month, at Rs.3,124 per gram, resulting in a percentage decline of 4.02.
Gold Trend in Meerut for December 2018
- The price of gold, after two months of fluctuating prices, proved to be beneficial for investors in December.
- On 1 December 2018 the metal was priced at Rs.3,108 per gram and gradually increased, reaching the highest price in the month at Rs.3,260 per gram by the second week.
- However, for a brief period, in the second half of December, gold prices decreased till 24 December 2018, but picked up the pace gradually.
- The price of gold increased in the last week of the month, finally closing at Rs.3,239 per gram due to a gradual increase in global demand of the metal.
Gold Rate Trend in Meerut for July 2018 to September 2018 (per gram of 24 karat gold)
|1st day||Rs.3,124 per gram||Rs.3,050 per gram||Rs.3,103 per gram|
|Last day||Rs.3,056 per gram||Rs.3,092 per gram||Rs.3,140 per gram|
|Highest price||Rs.3,140 per gram on 7 July||Rs.3,092 per gram on 31 August||Rs.3,155 per gram on 26 and 27 September|
|Lowest price||Rs.3,056 per gram on 19 and 31 July||Rs.3,003 per gram from 17 to 19 August||Rs.3,082 per gram on 4 September|
Gold rate trend In Meerut for July 2018
- On 1 July, gold in Meerut was trading at Rs.3,124 per gram.
- The US dollar weakened on 7 July as the price of gold rose to Rs.3,140 per gram. This was the highest price of gold in July.
- In the next few days, the price of gold dipped due to an increase in the US dollar value post the Federal Reserve's policy meeting.
- The gold rate hit a monthly low of Rs.3,056 per gram on 19 July and again on 31 July due to poor trend overseas.
- Gold rates could not recover throughout the month and recorded a decline of 2.17%.
Gold rate trend In Meerut for August 2018
- On 01 August, gold was priced at Rs.3,050 per gram in Meerut. The demand during the beginning of the month was steady amid unfavorable trends overseas.
- Throughout the month the demand for the metal and the value of the US dollar played a crucial role in determining gold rates in Meerut.
- From 17 to 19 August, as the demand for the metal took a fall due to the strengthening US dollar, the precious metal hit a monthly low of Rs.3,003 per gram.
- However, gold prices quickly recovered as investors gravitated towards safe-haven assets.
- On 31 August, the last day of the month, the highest gold rate for the month of August was recorded in Meerut. On this day, gold closed at Rs.3,092 per gram.
- High demand for the metal and favorable international trends helped the trend of gold rates in the city incline by 1.37% for the month of August.
Gold rate trend In Meerut for September 2018
- Gold rate inclined and traded at Rs.3,103 per gram when the trading for the metal commenced for the month of September.
- As the retail and the industrial demand for the metal fell, on 04 September, the gold rate in Meerut hit a monthly low of Rs.3,082 per gram.
- However, on account of the festive season, the demand for the precious metal inclined and gold rates surged in Meerut. On 26 and 27 of September, gold rate hit a monthly high of Rs.3,155 per gram.
- Gold closed at Rs.3,140 per gram.
- Overall, gold recorded an incline of 1.19% for the month of September in Meerut.
Gold Rate Trend in Meerut for April 2018 to June 2018 (per gram of 24 karat gold)
|First Day||Rs.3,159 per gram||Rs.3,231 per gram||Rs.3,216 per gram|
|Last Day||Rs.3,231 per gram||Rs.3,217 per gram||Rs.3,146 per gram|
|Highest Rate||Rs.3,243 per gram from 20 to 23 April||Rs.3,254 per gram on 14 May||Rs.3,216 per gram on 1 June|
|Lowest Rate||Rs.3,159 per gram from 1 and 2 April||Rs.3,197 per gram on 18 May||Rs.3,146 per gram on 30 June|
|Overall Monthly Performance||Incline||Decline||Decline|
Gold Rate Trend in Meerut for April 2018
- The precious metal opened trading in Meerut at Rs.3,159 per gram on positive trends overseas as well as steady demand from local jewellers.
- Favourable market conditions and a low dollar rate led to increased retail demand initially, before prices fell on declining interest from investors.
- Geopolitical crises in the U.S. and political scandals dogging the President led to markets sliding, as gold prices fluctuated on demand vagaries.
- Prices rose to a monthly high of Rs.2,343 per gram on 20 April but declined due to fluctuating demand.
- Local retail demand also stagnated, resulting in gold priced at Rs.3,231 per gram as the month ended, though overall prices rose by 1.66%.
Gold Rate Trend in Meerut for May 2018
- Trading for May saw gold priced at Rs.3,231 per gram with the price being comparatively weaker for sales in the metal as the US dollar recovered from its fall seen over the previous month.
- The metal traded at Rs.3,254 per gram on the 14th - the month’s highest rate as demand was on the higher side. On the flip side, the lowest gold rate was recorded on the 18th when the metal traded at Rs.3,197 per gram just four days later, on the 18th.
- Demand improved over the next few days but wasn’t enough bring the trend back to the positive side.
- When the month ended, the precious metal was priced at Rs.3,217 per gram - which was a 0.43% fall compared to the previous month’s rates.
Gold Rate Trend in Meerut for June 2018:
- When trading started for June in Meerut, gold was priced at Rs.3,216 per gram. Demand this month again was weak as the US dollar recorded significant growth ahead of a strong payrolls data and a positive Fed meeting.
- The metal was at its highest point when it traded at Rs.3,216 per gram on the 1st and rates fell significantly over the rest of the month.
- The lowest gold rate in Meerut for this month was recorded on the 30th of the month when it traded at Rs.3,146 per gram.
- Price trends tumbled by 2.16% in Meerut this month, owing to a strong dollar and a strong equity market.
Gold Rate Trend in Meerut for January 2018 to March 2018 (per gram of 24 karat gold)
Rs.3,010 per gram
Rs.3,077 per gram
Rs.3,113 per gram
Rs.3,066 per gram
Rs.3,129 per gram
Rs.3,134 per gram
Rs.3,120 per gram on 24 & 25 January
Rs.3,161 per gram on 18 & 19 February
Rs.3,171 per gram on 25 & 26 March
Rs.3,010 per gram from 1-3 January
Rs.3,035 per gram on 9 February
Rs.3,098 per gram on 19 & 20 March
Gold Rate Trend in Meerut for January 2018
- Gold prices in Meerut were stable as the month began, with the precious metal trading at Rs.3,010 per gram on 1 January due to consistent demand from jewellers.
- Prices were on the rise as positive market cues as well as steady international demand kept bullion rates stable.
- Fluctuating dollar rates led to an increase in interest in gold, with local demand also rising due to favourable international cues.
- Escalating demand led to gold prices rising to Rs.3,120 per gram on 24 January, as growing tensions between the U.S. and China over trade tariffs led investors to back gold.
- Prices stabilised as the month ended, with gold trading at Rs.3,066 per gram on 31 January on the back of strong local demand.
- The steady rise in price led to gold’s value increasing by 1.19% over the course of the month.
Gold Rate Trend in Meerut for February 2018
- Political tensions in the Middle East and the Korean peninsula led to turbulent equity markets and increased demand for gold in February.
- The month began with gold priced at Rs.3,077 per gram on surging demand from the retail sector as well as investors.
- Prices rose steadily over the start of the month as industrial demand and orders from Asian nations kept prices high in spite of minor price fluctuations.
- Gold dropped to Rs.3,035 per gram on 9 February after positive U.S. jobs data led to the dollar rising and markets stabilising.
- Demand for the yellow metal saw prices rise for the rest of the month, with gold reaching Rs.3,161 per gram on 18 February.
- A reduction in orders from jewellers led to a slight drop in gold rates towards the end of the month, with gold priced at Rs.3,129 per gram on 28 February.
Gold Rate Trend in Meerut for March 2018
- Gold opened the month priced at Rs.3,113 per gram on 1 March as demand for the yellow metal fell marginally due to lower offtake.
- Prices were stable as overseas demand was muted due to the rising dollar rate, which made importing gold more expensive.
- Retail demand was poor due to higher prices, which led to jewellers reducing orders and leading to a dip in the gold rate.
- Tensions with China and North Korea kept U.S. markets volatile and kept interest in gold high, though local rates were largely unaffected in Meerut.
- Prices fell to Rs.3,098 per gram on 19 March as equity markets and currencies were bolstered by strong investor confidence.
- Gold rate rose marginally over the rest of the month, with the precious metal trading at Rs.3,134 per gram on 31 March.
Gold Rate Trend in Meerut for October 2017 to December 2017 (per gram of 24 karat gold)
|1st day||Rs.3,063 per gram||Rs.3,006 per gram||Rs.3,016 per gram|
|Last day||Rs.3,026 per gram||Rs.3,026 per gram||Rs.3,020 per gram|
|Highest price||Rs.3,072 per gram from 12 to 16 October||Rs.3,060 per gram from 18 to 20 November||Rs.3,036 per gram from 2 to 4 December|
|Lowest price||Rs.3,026 per gram on 27, 30 and 31 October||Rs.3,006 per gram on 1 November||Rs.2,910 per gram on 11 to 13 December|
Gold Rate Trend in Meerut for October 2017:
- The price of gold in Meerut was Rs.3,063 per gram when trading began for the month of October.
- The U.S. Dollar stabilised after a period of instability and this led equity markets to also rise, which led to a decline in demand for gold.
- Gold prices fell to Rs.3,028 per gram on 6 October as a result of lowered demand for the precious metal.
- There was muted demand for gold throughout the month, in spite of festivals like Diwali. In fact, there was little to no impact on the price of gold during the festive period.
- Industrial demand was also on the decline as equities and a resurgent dollar kept imports to a minimum.
- Prices dropped to Rs.3,026 per gram from 27-31 October, resulting in the metal losing 1,20% of its value over the course of the month.
Gold Rate Trend in Meerut for November 2017:
- As the month began, gold was priced at Rs.3,006 per gram in Meerut, with a decline in price seen due to poor demand.
- A spurt in demand due to a sudden dip in the dollar rate led to prices rising to Rs.3,045 per gram on 10 November.
- A weakened U.S. Dollar led to greater demand for gold, as Asian markets also increased orders due to cheaper import costs.
- Prices rose to Rs.3,060 per gram, the highest for the month as local demand also rose due to the festive season.
- As markets stabilised and the dollar recovered, there was a slight drop in demand for gold and the price fell.
- Gold ended the month trading at Rs.3,026 per gram to record a rise of 0.66% over the course of the month.
Gold Rate Trend in Meerut for December 2017:
- The price of gold in Meerut in December saw quite a few fluctuations due to conflicting cues from markets.
- The month began with gold priced at Rs.3,016 per gram, with the price rising to Rs.3,036 per gram on 2 December following strong demand from overseas industrial units.
- Capitalising on the weak dollar, there was heightened demand for the yellow metal before prices regularised.
- Demand continued to fluctuate as markets were skittish due to turbulent geopolitical environment in the United States.
- Prices finally began to stabilise as the month drew to a close, trading at Rs.3,020 per gram on 31 December.
- The turbulence in the markets notwithstanding, gold prices rose by 0.13% during the month.
Gold Rate Trend in Meerut for July 2017 to September 2017 (per gram of 24 karat gold)
|1st day||Rs.2,992 per gram||Rs.2,960 per gram||Rs.3,024 per gram|
|Last day||Rs.2,950 per gram||Rs.2,999 per gram||Rs.3,063 per gram|
|Highest price||Rs.2,992 per gram on 1 & 2 July||Rs.3,017 per gram on 28 August||Rs.3,130 per gram on 8 September|
|Lowest price||Rs.2,843 per gram on 12 & 13 July||Rs.2,930 per gram on 3 & 6 August||Rs.3,024 per gram on 1 September|
Gold rate trend for Meerut in July 2017
- Demand for gold was on the decrease at the start of July due to a sharp decline in orders from local jewellers and retailers.
- Gold opened the month trading at Rs.2,992 per gram on 1 July before prices fell to Rs.2,942 per gram from 4-6 July.
- Demand continued to be poor, with prices dropping to Rs.2,843 per gram on 12 & 13 July on account of a strong rally in global markets.
- The yellow metal traded low towards the middle of the month as demand from overseas markets, especially China was on the decline.
- Gold prices in Meerut rose to Rs.2,883 per gram on 20 July after the possibility of a rate hike by the Federal Reserve was quashed, increasing reliance on bullion.
- Prices dropped towards the end of the month as markets rallied and the U.S. dollar was stable in spite of geopolitical tensions in the Korean peninsula and the United States.
- Gold ended the month trading at Rs.2,950 per gram on 31 July and registered a loss of 1.40%.
Gold rate trend in Meerut in August 2017
- Gold was priced at Rs.2,960 per gram on 1 August as demand was still poor following the introduction of the new taxation regime.
- Gold prices in Meerut fell in the initial few weeks due to poor local demand and a reduction in overseas demand due to fewer orders from Asia, with gold prices at Rs.2,934 per gram on 8 August.
- Demand jumped to Rs.2,999 per gram on 11 August as the threat of nuclear aggression by North Korea led to higher volumes of trading in gold.
- Prices remained high for a few weeks as international demand also saw a revival, boosted by poor market performance.
- On the 28th, the bullion prices surged to Rs.3,017 per gram as the US economy crashed with Hurricane Harvey taking its toll on the US coast. This was also the highest recorded monthly figure in Meerut.
- The month ended with the yellow metal trading at Rs.2,999 per gram as demand declined towards the end of the month.
Gold rate trend in Meerut for September 2017
- When trading commenced in Meerut, gold was priced at Rs.3,024 per gram on the 1st.
- Prices surged to Rs.3,130 per gram on the 8th, as global demand for safe-haven assets like gold skyrocketed after North Korea announced their powerful two-stage thermonuclear weapon to the world.
- The strengthening of the US dollar over the next few days resulted in gold prices dropping to Rs.3,056 per gram on the 19th.
- However, gold rates in Meerut surged as the dollar dipped with the US-North Korean relations escalating. This led to prices rising to Rs.3,078 per gram the next day.
- The imminent arrival of Dussehra pushed local demand higher for the precious metal, and gold was trading at Rs.3,110 per gram on the 26th.
- Global demand declined with the possibility of a new Fed rate hike over the next few days. This led to gold trading lower at Rs.3,063 per gram on the last day.
- Gold rates in Meerut rose by 1.27% during the month, owing to an increased global demand coupled with positive global trends.
Gold Rate Trend in Meerut for April 2017 to June 2017 (per gram of 24 karat gold)
|1st day||Rs.2,991 per gram||Rs.3,011 per gram||Rs.3,012 per gram|
|Last day||Rs.3,011 per gram||Rs.2,992 per gram||Rs.2,992 per gram|
|Highest price||Rs.3,068 per gram on April 15 to 16||Rs.3,011 per gram from 1 to 2 May||Rs.3,057 per gram on 7 June|
|Lowest price||Rs.2,983 per gram from 8 to 10 April||Rs.2,918 per gram 11 to 15 May||Rs.2,982 per gram from 17 to 22 June|
Gold rate trend for Meerut in April
- Gold opened at the markets at Rs.2,991 per gram on the first day of the month. This was a slightly dull beginning for the precious yellow metal.
- The price remained the same for the next two days, influenced by US economic data results.
- On April 4, the price of gold in Meerut was Rs.3,003 per gram, an increase by Rs.12 from the earlier price of Rs.2,991 per gram.
- The price of the precious metal remained unchanged for the next few days until April 7. On the next day, the price dropped to Rs.2,983 per gram. The price was unchanged till April 10.
- From April 8 to 10, the price of gold dipped to its lowest in the whole month. Prices took a hit during this week due to an increase in the US dollar rate and other geopolitical tensions around the world.
- After recovering from the previous week’s blues, gold inched up again. The price of the yellow metal reached Rs.3,036 per gram on April 12 and further increased to Rs.3,047 per gram on April 14.
- The highest price in the month was Rs.3,068 per gram from April 15 to 16.
- As the rupee gained against the US dollar, the price of gold remained stable at Rs.3,057 per gram from April 17 to 21. This gave Indian buyers the opportunity to make purchases.
- Prices slumped again during the next few days due various political developments including the French Presidential election.
- The month came to an end on a high note as the price of gold saw an overall incline of 0.66%. The price of gold in Meerut on the last day of the month was Rs.3,011 per gram.
Gold rate trend for Meerut in May
- Gold traded on bullish note at the price of Rs.3,011 per gram on May 1. The price remained the same on May 2 too.
- The price of gold in Meerut decreased to Rs.2,982 per gram on May 3 as the US dollar gained, stocks surged and the demand for safe-haven assets also took a back seat.
- The price of gold went down continuously during the first week of May. The price plunged to Rs.2,952 per gram on May 4 and remained the same till May 7.
- As the euro strengthened due to the Presidential elections in France, the price of gold further fell to Rs.2,942 per gram.
- Prices remained low in the next few days. On May 10, the price of gold stood at Rs.2,928 per gram and it further fell to Rs.2,918 per gram on May 11. The price of gold remained unchanged till May 15.
- On May 16, gold climbed up hopefully, reaching a price of Rs.2,923 per gram and increasing again on the next day to Rs.2,991 per gram. This rise can be attributed to weak US manufacturing data.
- The price of gold in Meerut slumped again the next day to Rs.2,977 per gram due to a rise in the US dollar nad global political tensions surrounding the Donald Trump presidency. The price remained unchanged till May 25.
- On May 26, the price of the precious yellow metal increased again to Rs.2,992 per gram. This was because the US dollar rate fell and also due to US Federal Reserve developments.
- The price remained the same till the last day of the month due to various geopolitical tensions.
- Gold closed at Rs.2,992 per gram on May 31. There was an overall decline in the price of gold by -0.63%.
Gold rate trend for Meerut in June
- Gold opened in the market on the first day of the months at Rs.3,012 per gram. The price remained the same on the next day too.
- During the first week of June the price of gold continuously increased, reaching the highest price in the month on April 7. The price of gold on that day was Rs.3,057 per gram.
- This rise in price is due to the fall in the US dollar rate and a slump in Asian stock markets.
- The price of gold in Meeruton June 9 was Rs.3,017 per gram. On the next day, the price reached Rs.3,007 per gram, remaining unchanged till June 15.
- Post June 15, the price of the yellow metal went down because banks did not import gold. This was due to the developments preceding the roll out of GST.
- On June 20 the price of gold in Meerut fell to Rs.2,982 per gram. The price remained the same till June 22 as demand from local people and jewellers increased.
- The price of gold on June 30 was Rs.2,992 per gram. There was an overall decline by 0.66% during the course of the month.
Gold Rate Trend in Meerut for January 2017 to March 2017 (per gram of 24 karat gold)
|1st day||Rs.2,844 per gram||Rs.2,978 per gram||Rs.3,009 per gram|
|Last day||Rs.2,958 per gram||Rs.3,020 per gram||Rs.2,991 per gram|
|Highest price||Rs.2,979 per gram on 24th and 25th of January||Rs.3,031 per gram from 25th February to||Rs.3,009 per gram on the 1st and 2nd of March|
|Lowest price||Rs.2,844 per gram from 1st January to 3rd February||Rs.2,957 per gram from 4th February to 6th February||Rs.2,950 per gram on 15th March|
Gold Rate Trend in Meerut for January 2017:
- In Meerut, gold rates witnessed some upturn in sales after a disastrous last quarter of 2016.
- January began with gold selling at Rs.2,844 per gram, which increased to Rs.2,855 per gram on 5th and then to Rs.2,866 per gram by the 9th.
- As there was a sustained demand in the market, gold prices went up to Rs.2,888 per gram on 10th and went up as high as Rs.2,973 per gram on 18th.
- Though prices seemed to fall over the next few days, they picked up to reach the highest gold rate for the month of Rs.2,979 per gram on 23rd.
- By the end of the month, gold rates had trailed off slightly to end January at Rs.2,958 per gram.
- Overall, gold price trends changed at a rate of 4% for the month of January.
Gold Rate Trend in Meerut for February 2017:
- February, again, was a positive month for gold sales in Meerut as bullion trading commanded high prices for the second month in a row.
- On 1st February, gold was priced at Rs.2,978 per gram, which then fell slightly to Rs.2,957 per gram by the 6th as demand went down.
- As demand went up again, owing to Donald Trump’s new policies, gold rates hit Rs.2,999 per gram on 7th.
- After some drops and eventual gains, gold prices ended at Rs.3,004 per gram on 17th February.
- For the next week and so, gold prices fell to Rs.2,999 per gram before increasing to Rs.3,031 per gram on 25th.
- However, rates had fallen when the month ended to reach Rs.3,020 per gram.
- Gold rate trend was on an incline for the second month in a row as it went up by 1.41%.
Gold Rate Trend in Meerut for March 2017:
- After two consecutive months of increase, gold rates decreased in the month of March.
- Most of the changes during this month could be attributed to US Fed rate hike, which brought a momentary end to rising gold demand.
- On the 1st of March, gold was trading at Rs.3,009 per gram but dropped to Rs.2,990 per gram on 2nd.
- Gold rates went as low as Rs.2,977 per gram on 7th and by the 15th, they were down to Rs.2,950 per gram - the lowest rate for the entire month.
- Despite the drop, prices seemed to rally as they went up to Rs.3,003 per gram - the highest rate for the month.
- When the month ended, gold prices had stabilised to reach Rs.2,991 per gram.
- The month of March saw price trends in Meerut drop by -0.59%.
|1st day||Rs.3,205 per gram||Rs.3,099 per gram||Rs.2,893 per gram|
|Last day||Rs.3,099 per gram||Rs.2,941 per gram||Rs.2,844 per gram|
|Highest price||Rs.3,205 per gram from 1st to 4th||Rs.3,213 per gram on 5th and 6th||Rs.2,893 per gram on 1st and 2nd|
|Lowest price||Rs.3,088 per gram from 8th to 25th||Rs.2,929 per gram from 25th to 27th||Rs.2,800 per gram from 23rd to 28th|
Gold Rate Trend in Meerut for October 2016
- In October, Meerut didn’t see too much of a fluctuation with regards to gold prices.
- The first began with gold trading at Rs.3,205 per gram - the highest gold rate for the entire month.
- Prices decreased to hit Rs.3,119 per gram on 5th - a Rs.86 change from the previous three days.
- Gold prices seemed to slump yet again as it hit Rs.3,088 per gram on 9th before continuing at the same rate till 25th October.
- The last week saw prices increase to Rs.3,099 per gram - a rate that held on till the end of the month on 31st.
- All in all, gold price trends in Meerut saw a change of -3.307% for the month of October.
Gold Rate Trend in Meerut for November 2016
- When November began in Meerut, gold was seen trading at Rs.3,099 per gram.
- The next two weeks saw gold prices increase owing to a sudden surge in demand.
- Around the 9th of this month, the central government decided to demonetise Rs.500 and Rs.1,000 notes in the country.
- Gold prices hit the highest rate of Rs.3,213 per gram during the 5th and 6th as rumours of demonetisation seemed to bring prices up.
- November turned out to be the worst month for gold rates as it brought about a change of -5.09% in price trends.
Gold Rate Trend in Meerut for December 2016
- The last month of Q4 didn’t see any major upturn in gold rates as demonetisation still had a firm grip on the market.
- There was an immense cash crunch in the country as no money was available anywhere, particularly in the metro cities.
- The month began with gold trending at Rs.2,893 per gram on the 1st but decreased to hit Rs.2,864 on the 10th.
- In the course of days, prices seemed to go further down, as gold was trading at Rs.2,822 per gram around the 20th.
- However, prices seemed to increase slightly towards the end of the month as new year was approaching.
- Overall, Meerut saw a gold rate change of -1.69% for the month of December.
|1st day||Rs.3,167 per gram||Rs.3,219 per gram||Rs.3,184 per gram|
|Last day||Rs.3,219 per gram||Rs.3,205 per gram||Rs.3,217 per gram|
|Highest price||Rs.3,227 per gram from 7th to 9th July||Rs.3,248 per gram on 4th and 10th August||Rs.3,228 per gram from 7th to 12th September|
|Lowest price||Rs.3,163 per gram on 22nd July||Rs.3,205 per gram from 26th to 31st August||Rs.3,184 per gram on 1st and 2nd September|
Gold Rate Trend of Meerut in July 2016
- The overseas market had a bullish outlook this month as trends played in favor of gold.
- On 1st July, gold was seen trading at Rs.3,167 per gram.
- Demand for the yellow metal surged and prices reached Rs.3,227 per gram on 7th to 9th July, the highest for the month.
- There were fluctuations towards the second half of the month as the dollar gained strength.
- Gold prices dipped to their lowest for the month on 22nd July, trading at Rs.3,163 per gram.
- The trend for this month was still an incline of 1.61% in gold rates.
Gold Rate Trend of Meerut in August 2016
- Stable demand flowed into the domestic market on account of the festive season.
- Between 4th and 10th August, gold traded at Rs.3,248 per gram which was the highest rate for this month.
- The prospects of a Fed rate hike gained strength in the market and investors were reluctant to buy gold.
- Bearish sentiments in the market led to a drop in gold prices by 0.43% this month.
Gold Rate Trend of Meerut in September 2016
- The global market continued to have a bearish outlook at the start of the month.
- Gold traded at Rs.3,184 per gram on 1st and 2nd September which was the lowest rate for this month.
- With the U.S presidential elections being too close, the Federal Reserve took a decision to put the rate hike on hold till December.
- The market was flooded with bullish sentiments and demand for gold surged.
- The highest gold rate for this month was Rs.3,228 per gram from 7th to 12th September.
- The month ended on a good note with gold trading at Rs.3,217 per gram indicating an increase of 1.04%.
|1st day||Rs. 2,943 per gram||Rs. 3,119 per gram||Rs.2,960 per gram|
|Last day||Rs. 3,119 per gram||Rs. 2,960 per gram on 30th of May||Rs.3,167 per gram|
|Highest price||Rs.3,119 per gram on 30th April||Rs. 3,120 per gram on 9th of May||Rs.3,182 per gram on 28th June|
|Lowest price||Rs. 2,933 per gram on 5th of April||Rs. 2,960 per gram on the 28th to 31st of May||Rs.2,950 per gram on 2nd June|
Gold Rate Trend of Meerut in April 2016
- Gold prices started steady at Rs. 2,943 per gram for the first three days of April.
- As the strike continued, prices remained constant.
- Once the strike was called off, gold rates rushed back up as the market picked up.
- Gold traded at the highest on 30th April at Rs. 3,119.
- Gold prices inclined by 5.98% by the end of the month.
Gold Rate Trend of Meerut in May 2016
- May started out steady and rising at Rs. 3,119.
- The month of May brought in expectations of a stronger dollar and speculation of an interest rate hike by the U.S. Federal Reserve
- Gold started to decline and by May 24th it was at Rs. 3,048 per gram.
- The month ended at Rs. 2,960 per gram on 30th of May.
Gold Rate Trend of Meerut in June 2016
- Due to an increase in domestic demand and market trends, a rise was noted in the price of gold as the month of June progressed.
- The lowest price at which gold traded at was Rs.2,950 per gram noted on 2nd June.
- The highest rate of gold was noted on the 28th of June wherein gold was priced at Rs.3,182 per gram.
- There were many fluctuations noted in the price of gold throughout the month.
- Post Brexit polls, economic uncertainty throughout the world resulted in a drastic increase in the price of gold.
|1st day||Rs. 2,585 per gram||Rs. 2,756 per gram||Rs. 3,030 per gram|
|Last day||Rs. 2,756 per gram||Rs. 3,037 per gram||Rs. 2,948 per gram|
|Highest price||Rs. 2,767 per gram on January 27th||Rs. 3049 per gram on 26th of February||Rs. 3,030 per gram from March 1st to 14th|
|Lowest price||Rs. 2,580 per gram from January 2nd to 4th||Rs. 2,756 per gram on February 1st||Rs. 2,948 per gram on March 25th to 31st|
Gold Rate Trend of Meerut in January 2016
- Gold traded at Rs. 2,585 per gram at the start of January and was constant for the next four days
- The highest rate for gold in January was on 27th at Rs. 2,767 per gram.
- By the end of the month, rates dropped further due to decline in demand.
- Prices were at Rs. 2,756 per gram on 31st January 2016.
Gold Rate Trend of Meerut in February 2016
- Entering February, gold prices were the same as January end. The month opened at Rs. 2,756 per gram.
- Gold rates were increasing through the month recording 10.19% change.
- The highest price was Rs. 3049 per gram on 26th of February.
Gold Rate Trend of Meerut in March 2016
- Gold rates traded at Rs. 3,030 on February first. The rates stayed the same for two weeks into March owing to the jeweller’s strike that took place across India.
- By March 15th, gold rates declined to Rs. 2,940 per gram but managed to rise again to Rs. 2,998 per gram on 18th of March.
- Overall, there was a declining trend that can be attributed to the strike. The month ended at Rs. 2,948 per gram on 31st March 2016.
Investing in gold in Meerut
Traditional over the counter trading: As one of the oldest cities in the country, Meerut also has one of the oldest jewellery markets and is home to skilled craftsmen, jewellers, and gold traders. Gold can be purchased in the form of bullion, bars, coins, jewellery, etc. and held for value appreciation, or as stock in trade to trade with the rising and falling international gold prices. Physical gold can also be purchased from banks for a slightly higher cost – due to the security provided and the hallmarking certification provided by the bank.
Gold ETFs and E-gold: Meerut is seeing a favourable change in the way e-gold and gold ETFs and being purchased and traded. The old school thinking that physical gold is better for various reasons is being challenged by the profitable results gained through trading e-gold and investing in gold ETFs. Gold futures trading is also gaining ground. The Mumbai Stock Exchange and the National Stock Exchange govern and regulate the trade of e-gold, gold ETFs and gold futures trading.
Also Check Gold Price in NearBy Cities of Meerut
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- Also Check: Gold Rate in Uttar Pradesh