Gold Rate In Nellore

  • Today's Gold Rate in Nellore( 01 Jun 2020 )

    ₹ 4,508
    Today's Gold Rate (22K) per gram

    Compare 22K & 24K Gold Rate In Nellore (Today & Yesterday)

    Today
    Yesterday
    Rate Change
    Standard Gold (22 K) ( 1 gram ) ₹ 4,508 ₹ 4,508 ₹ 0 ↑
    Standard Gold (22 K) ( 8 grams ) ₹ 36,064 ₹ 36,064 ₹ 0 ↑
    Pure Gold (24 K) ( 1 gram ) ₹ 4,733 ₹ 4,733 ₹ 0 ↑
    Pure Gold (24 K) ( 8 grams ) ₹ 37,864 ₹ 37,864 ₹ 0 ↑

    Daily Gold Rates

    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    01 Jun 2020 ₹ 4,508 ₹ 36,064 ₹ 4,733 ₹ 37,864
    31 May 2020 ₹ 4,508 ₹ 36,064 ₹ 4,733 ₹ 37,864
    30 May 2020 ₹ 4,485 ₹ 35,880 ₹ 4,709 ₹ 37,672
    29 May 2020 ₹ 4,485 ₹ 35,880 ₹ 4,709 ₹ 37,672
    28 May 2020 ₹ 4,476 ₹ 35,808 ₹ 4,700 ₹ 37,600
    27 May 2020 ₹ 4,523 ₹ 36,184 ₹ 4,749 ₹ 37,992
    26 May 2020 ₹ 4,523 ₹ 36,184 ₹ 4,749 ₹ 37,992
    24 May 2020 ₹ 4,544 ₹ 36,352 ₹ 4,771 ₹ 38,168
    23 May 2020 ₹ 4,544 ₹ 36,352 ₹ 4,771 ₹ 38,168

    Gold Rate Trend

    • 7 Days
    • 30 Days
    • 3 Months
    • 6 Months

    *Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.

    Gold Price in Nellore

    Gold rates in the first two months of 2016 have been on the rise despite strong US jobs data and equities and weak demand among other factors. Gold rates in India are influenced by various national and international factors such as import duties, inflation, current account deficit, currency fluctuations and so forth. According to reports, geopolitical conflicts and plummeting stock markets have resulted in strengthening the position of gold as a safe haven asset this year.

    Nellore is one of the well-known districts in Andhra Pradesh owing to its cultural and historical importance. Gold is viewed as a traditional form of investment in Nellore as most residents buy various forms of gold jewelry, coins and bars. The gold jewelry is handed down from generation to generation in many households. Gold jewelry is an important part of various auspicious occasions and ceremonies such as weddings and religious processions.

    Gold Rate Trend in Nellore for January 2020 to March 2020 (per gram of 24 karat gold)

    Factor January February March
    1st Day Rs.3,922 per gram Rs.4,077 per gram Rs.4,185 per gram
    Last Day Rs.4,074 per gram Rs.4,185 per gram Rs.4,150 per gram
    Highest Price Rs.4,125 per gram on 8 January Rs.4,305 per gram on 24 February Rs.4,443 per gram on 6 March
    Lowest Price Rs.3,919 per gram on 2 January Rs.4,030 per gram on 6 February Rs.4,026 per gram on 19 March
    Trend Incline Incline Decline
    Change 3.87% 2.64% -0.83%

    Quarterly Gold Rate in Nellore from January 2020 to March 2020:

    • The price of gold in Nellore opened at Rs.3,922 and closed at Rs.4,074 on the last day of the month of January. The price of the yellow metal was impacted due to the trade tensions between Beijing and Washington. The political tensions between the Middle East and U.S which got escalated was one of the major reasons behind Gold touching its highest on 8 January at Rs.4,125 per gram. However, the price of yellow metal fluctuated and as things got better between U.S and China followed by easing of conflict between U.S and Middle East, the price of gold fell as investors turned to riskier assets. The price of gold in Nellore was the lowest on the second day of January 2020 at Rs.3,919. The price of gold for the month of January rose by 3.87%
    • The gold prices in the state of Nellore for the month of February opened at Rs.4,077 per gram due to the reports of outbreak of Covid-19 which resulted in the rise of gold prices. The highest price gold touched was Rs.4,305 on 24 February as Coronavirus impacted the global markets forcing investors to turn towards gold which is considered to be a safe haven. The price of gold fluctuated and touched its lowest on 6 February at Rs.4,030 per gram as stock markets looked up due to monetary policy intervention by the People’s Bank of China. The gold price closed at Rs.4,185 with the overall price of gold for the month of February rising by 2.64%.
    • The month of March saw the gold prices opening at Rs.4,185 per gram and closing at Rs.4,150 per gram. The gold prices touched its highest on 6th March at Rs.4,443 as the outbreak of Covid-19 had severe impact on the performance of global markets forcing investors to turn to gold which is considered to be a safe haven. The price of yellow metal fell on 19th March at Rs.4,026 as investors sold their shares in order to hoard cash as global economy went through a turbulent time. The poor U.S job claims report was one of the major reasons behind the fluctuation of the price of yellow metal throughout the month. Overall, the month of March turned out to be a disappointing month as the overall price of gold in Nellore declined by 0.83%.

    Gold Rate Trend in Nellore for October 2019 to December 2019 (per gram of 24 karat gold)

    Factor October November December
    1st Day Rs.3,772 per gram Rs.3,892 per gram Rs.3,828 per gram
    Last Day Rs.3,857 per gram Rs.3,828 per gram Rs.3,925 per gram
    Highest Price Rs.3,872 per gram on 26 and 27 October Rs.3,892 per gram on 1 November Rs.3,925 per gram on 31 December
    Lowest Price Rs.3,772 per gram on 1 October Rs.3,792 per gram on 28 November Rs.3,771 per gram on 11 and 13 December
    Trend Incline Decline Incline
    Change 2.25% -1.64% 2.53%

    Quarterly Gold Rate in Nellore from October 2019 to December 2019:

    • In Nellore, the price of the yellow metal saw an incline by 2.25% in the month of October. Gold opened at Rs.3,772 per gram and was steady throughout the month. This was majorly due to investors awaiting developments on the trade war between China and the United States of America. However, in the last week of the month, gold prices hit its monthly high on 26 and 26 October at Rs.3,872 per gram. This was majorly due to lowered risk appetite amongst investors and a fall in the value of the dollar against other currencies. Gold closed the month at Rs.3,857 per gram.
    • Gold prices took a hit in the month of November opening at Rs.3,892 per gram and fluctuating heavily throughout the month. The highest price in the month was its opening price. As the trade tensions between China and the United States of America eased and the United States Federal Reserve announced another rate cut, gold rates dipped. Investors with a higher risk appetite shifted to the stock market, resulting in the low demand for the precious metal. At the end of the month, gold closed at Rs.3,828 per gram with a percentage decline of 1.64.
    • The month of December proved to be beneficial for the traders. As the trade deal between China and the United States of America was put down for early January for its first phase, tensions between the former grew with Iran. As the U.S. had sanctioned a drone strike in the country, Iran was looking to retaliate and avenge their fallen Army soldier. Due to this, gold opened the month at Rs.3,928 per gram and increased in the end of the month with President Donald Trump facing an impeachment inquiry. The metal closed at Rs.3,925 per gram.

    Gold Rate Trend in Nellore for July 2019 to September 2019 (per gram of 24 karat gold)

    Factor July August September
    1st Day Rs.3,373 per gram Rs.3,481 per gram Rs.3,876 per gram
    Last Day Rs.3,505 per gram Rs.3,876 per gram Rs.3,783 per gram
    Highest Price Rs.3,537 per gram on 19 July Rs.3,913 per gram on 29 August Rs.3,953 per gram on 4 September
    Lowest Price Rs.3,373 per gram on 1 July Rs.3,481 per gram on 1 August Rs.3,758 per gram on 19 September
    Trend Incline Incline Decline
    Change 3.91% 11.34% -2.39%

    Gold Rate Trend in Nellore for April 2019 to June 2019 (per gram of 24 karat gold)

    Factor April May June
    1st day Rs.3,266 per gram Rs.3,281 per gram Rs.3,255 per gram
    Last day Rs.3,297 per gram Rs.3,255 per gram Rs.3,486 per gram
    Highest price Rs.3,297 per gram on 28-30 April Rs.3,318 per gram from 16-18 May Rs.3,533 per gram on 26 and 27 June
    Lowest price Rs.3,245 per gram from 20-22 April Rs.3,213 per gram from 4 May Rs.3,255 per gram on 1 June
    Trend Incline Decline Incline
    Change 0.94% -0.79% 7.09%

    Gold Rate Trend in Nellore for January 2019 to March 2019 (per gram of 24 karat gold)

    Factor January February March
    1st day Rs.3,172 per gram Rs.3,326 per gram Rs.3,305 per gram
    Last day Rs.3,321 per gram Rs.3,333 per gram Rs.3,200 per gram
    Highest price Rs.3,326 per gram on 30 January Rs.3,373 per gram on 22 February Rs.3,305 per gram on 1 March
    Lowest price Rs.3,172 per gram on 1 and 2 January Rs.3,316 per gram on 7 February Rs.3,169 per gram on 29 March
    Trend Incline Incline Decline
    Change 4.69% 0.21% -3.17%

    Gold Rate Trend in Nellore for January 2019:

    • Despite an uninspiring start in the beginning of 2019 when gold traded at Rs.3,172 per gram, the gold rate in Nellore surged in the coming weeks as retail demand rose and there were favourable overseas market cues. This was also the lowest price the metal stood at for the month.
    • The price of the metal saw an up rise on 4th January as investors increased their stake in bullion as a hedge against potential equity losses due to volatile markets.
    • Demand for the precious metal in Asia remained weak due to the impact of trade sanctions. However, healthy local and industrial demand maintained the positive trend of gold prices in Nellore.
    • The month ended with gold trading at its highest on 30th January. This may have been the effect of the US government shutting down and Brexit’s negative effects in the economy. On 31st January, the yellow metal was priced at Rs.3,321 per gram on.

    Gold Rate Trend in Nellore for February 2019:

    • A diminished retail offtake and a volatile marked stunted the value of gold even though the gold rate in Nellore trading at a high at the start of the month. As on 1st February, the metal was trading at Rs.3,326 per gram.
    • Due to conflicting overseas trends, the price of gold fluctuated. As on 5th February, gold was trading at Rs.3,346 per gram. During this time, local and industrial demand remained steady. However, the price dipped on 12th February when it was priced at Rs.3,305 per gram as investor interest declined.
    • The Sino-US trade talks stirred up negativity in the economy and investors switched to safe-haven assets as a hedge against any losses. This boosted the demand for gold in Nellore and the price rose to Rs.3,350 per gram on 16 February.
    • A weak US dollar also boosted local demand for the metal as gold prices rose to Rs.3,392 per gram on 21 February, but an aggressive stand by the Fed Reserve saw demand decline as gold closed at Rs.3,333 per gram on 28 February. The metal in Nellore saw a percentage incline of 0.21% for the month of February.

    Gold Rate Trend in Nellore for March 2019:

    • Gold rate in Nellore dipped in value at the beginning of the month as the value of the US dollar rose substantially. Uncharacteristically, stocks and equities too dipped in value at the same time. The price of gold on 1st March stood at Rs.3,305 per gram. This was also the highest value of the yellow metal for the month.
    • The dollar then declined in value on the 7th in comparison to the Euro as the ECB pushed its decision to hike interest rates. This stunted the growth of the metal due to weak economic conditions.
    • On 29th March, gold stood at its lowest point for the month when it was trading at Rs.3,169 per gram. This was influenced by the dollar increasing in value and the economic conditions weakening.
    • A percentage decline of 3.17 was recorded for the month of March while it was trading at Rs.3,200 per gram. This was also one of the lowest prices the metal stood at for the month.

    Gold Rate Trend in Nellore for October 2018 to December 2018 (per gram of 24 karat gold)

    Factor October November December
    1st day Rs.3,071 per gram Rs.3,184 per gram Rs.3,045 per gram
    Last day Rs.3,188 per gram Rs.3,045 per gram Rs.3,165 per gram
    Highest price Rs.3,211 per gram on 15 October Rs.3,196 per gram on 6 November Rs.3,192 per gram on 11 December
    Lowest price Rs.3,071 per gram on 1 October Rs.3,045 per gram on 30 November Rs.3,045 per gram on 1 December
    Trend Incline Decline Incline
    Change 3.80% -4.36% 3.94%

    Gold trend in Nellore for October 2018

    • For the month of October, the price of gold in Nellore opened at Rs.3,071 per gram and increased steadily through the month due to the weakening of the dollar against other currencies.
    • Mid-month, gold prices had increased to Rs.3,211 per gram marking the highest price in October. This was mainly due to the US-China trade war which resulted in a volatile market, leading to an increase in global demand for gold.
    • However, in the second half of the month, the price of gold decreased marginally due to fluctuations in local demand and the market.
    • The price of the metal, at the end of October, was recorded at Rs.3,188 per gram with a percentage incline of 3.80.

    Gold trend in Nellore for November 2018

    • The price of gold took a hit in November as the dollar recovered from the market crisis, resulting in the weakening of the rupee.
    • On 1 November 2018, gold was priced at Rs.3,184 per gram and steadily increased to Rs.3,196 per gram in the first week of the month. This marked the highest price of the metal in November.
    • Throughout the rest of the month, gold prices decreased as the value of the rupee fell against the dollar, resulting in a dip in global and local demand.
    • Gold was priced at Rs.3,045 per gram at the end of the month which resulted in a percentage decline of the metal by 4.36.

    Gold trend in Nellore for December 2018

    • Due to the crisis in the United States of America, the markets fell gradually. This resulted in the price of the metal reaching Rs.3,192 per gram on 11 December, the highest price of gold in Nellore for the month.
    • In the second half of the month, the price of gold fluctuated a great deal due to the continuous rise and fall of global demand and market trends.
    • However, on 31 December 2018, gold prices closed at Rs.3,165 per gram marking an incline of 3.94% in comparison with the rates from the previous month.

    Gold Rate Trend in Nellore for July 2018 to September 2018 (per gram of 24 karat gold)

    Factor July August September
    1st day Rs.3,059 per gram Rs.2,983 per gram
    Last day Rs.2,986 per gram Rs.3,036 per gram
    Highest price Rs. 3,071 per gram on 6 July Rs.3,036 per gram on 31 August
    Lowest price Rs.2,986 per gram on 31 July Rs.2,940 per gram on 16 August
    Trend Decline Incline
    Change -2.38% 1.77%

    Gold rate trend in Nellore for July 2018

    • Domestic demand from local industries and coin makers in Nellore was on the decline at the start of the month.
    • Gold was trading at Rs.3,059 per gram on 1 July. The rupee was recorded to weaken, and the downfall of demand for the metal adversely dictated gold prices for the coming weeks.
    • On 6 July, gold was priced at its highest when it traded at Rs.3,071 per gram. Demand for the metal finally rose, but the strengthening of the dollar caused it to plummet again.
    • Gold reached lowest point on 31 July. On this day, the metal was trading at Rs.2,986 per gram.

    Gold rate trend in Nellore for August 2018

    • August began with gold being priced at Rs.2,983 per gram.
    • Demand for the yellow metal varied throughout the month causing gold prices in Nellore to fluctuate as well.
    • On 16 August, the metal was priced at Rs.2,940 per gram.
    • Towards the end of the month, gold surged as domestic demand for the metal finally increased.
    • Gold was priced at its highest on 31 August when it traded at Rs.3,036 per gram.
    • Gold prices for the month recorded an upward trend of 1.77%.

    Gold rate trend in Nellore for September 2018

    • A slight decline in gold rates was noted when the trading for the metal commenced for the month of September in Nellore. Gold opened at Rs.3,029 per gram on the 1st of the month.
    • On 3 September, due to poor demand and strong US dollar, the price of gold fell and hit a monthly low of Rs.3,019 per gram.
    • In the following days, gold rates inclined as the festive demand for the metal picked up and hit a monthly of Rs.3,090 per gram on 225th and 26th of the month.
    • During the end of the month, gold rates fell marginally and closed at Rs.3,074 per gram.
    • However, gold rates in Nellore recorded an overall incline of 1.48% for the month of September.

    Gold Rate Trend in Nellore for April 2018 to June 2018 (per gram of 24 karat gold)

    Factor April May June
    1st day Rs.3,072 per gram Rs.3,114 per gram Rs.3,100 per gram
    Last day Rs.3,123 per gram Rs.3,122 per gram Rs.3,054 per gram
    Highest price Rs.3,153 per gram on 19 April Rs.3,147 per gram on 14 May Rs.3,119 per gram on 9 & 10 June
    Lowest price Rs.3,064 per gram on 6 April Rs.3,103 per gram on 2 May Rs.3,054 per gram on 30 June
    Trend Incline Incline Decline
    Change 1.66% 0.25% -1.48%

    Gold Rate Trend in Nellore for April 2018:

    • Gold was priced at Rs.3,072 per gram when trading began in Nellore for the month of April.
    • Gold rates dropped to a monthly low of Rs.3,064 per gram on the 6th as demand remained weak and the dollar seemed to rise.
    • Demand was on the bullish side this month after the initial fall, as the joint force of the US and NATO decided to attack Syria over the bombing of its citizens.
    • As a result, gold rates began to surge, while the dollar plummeted. On the 19th, gold was at its highest of Rs.3,153 per gram as demand surged consistently as the dollar failed to recover and gold demand remained on the rise.
    • The month ended with gold prices holding at Rs.3,123 per gram - marking a 1.66% incline in prices.

    Gold Rate Trend in Nellore for May 2018:

    • When May’s trading began, gold was priced at Rs.3,114 per gram. Demand this month was slightly on the lower side after the dollar recovered from the previous month’s fall. This caused gold rates to drop after demand weakened.
    • Gold was at its highest on the 15th when it traded at Rs.3,213 per gram and the lowest was recorded on the 3rd, when it sold at Rs.3,103 per gram.
    • A slightly higher local demand helped offset the rise in the US dollar. Gold was seen trading at Rs.3,122 per gram on the final day of the month.
    • There was a 0.25% change in price trends this month, brought about by a positive local demand amidst a rising dollar.

    Gold Rate Trend in Nellore for June 2018:

    • Positive market cues and increased trading in the dollar resulted in a drop in demand for bullion.
    • When the month began, gold was priced at Rs.3,100 per gram, which fell considerably within the first week after the payroll data showed some positive numbers.
    • There was a incline in gold prices mid-month as demand seemed to rise and the metal traded at Rs.3,127 per gram on the 15th.
    • However, a fall in demand caused gold rates to drop to a monthly low of Rs.3,054 per gram on the 24th of June.
    • When the month ended, gold prices were recorded at Rs.3,059 per gram. Price trends were held to a 1.32% decline this month due to a buoyant dollar and resurgent markets.

    Gold Rate Trend in Nellore for January 2018 to March 2018 (per gram of 24 karat gold)

    Factor

    January

    February

    March

    1st day

    Rs.3,002 per gram

    Rs.3,040 per gram

    Rs.3,043 per gram

    Last day

    Rs.3,045 per gram

    Rs.3,046 per gram

    Rs.3,072 per gram

    Highest price

    Rs.3,084 per gram on 20 & 21 January

    Rs.3,103 per gram on 14 February

    Rs.3,105 per gram on 24 & 25 March

    Lowest price

    Rs.3,001 per gram on 4 January

    Rs.3,003 per gram on 8 February

    Rs.3,030 per gram on 19 March

    Trend

    Incline

    Incline

    Incline

    Change

    1.43%

    0.19%

    0.95%

    Gold Trend in Nellore for January 2018:

    • The month began in Nellore with gold trading at Rs.3,002 per gram on the 1st with domestic bullion markets holding on to its gains from the previous session.
    • However, with the US dollar gaining against a basket of other apex currencies, prices dropped to Rs.3,001 per gram on the 4th. This was also the lowest recorded monthly figure in the city.
    • The US employment data indicated a drop in the number of jobs supporting the US economy. This led to the dollar declining and gold prices recovered over the next couple of weeks.
    • Gold rates in Nellore surged to Rs.3,084 per gram - the highest recorded monthly figure - on the 20th after the poor US inflation data sent the dollar and stock markets tumbling in the international market.
    • Demand stabilised towards the end of the month with the dollar regaining lost ground amid recovering equity markets and gold was priced at Rs.3,045 per gram on the last day.
    • The bullion trade in Nellore registered an increase of 1.43% in gold rates owing to strong overseas market trends during the course of the month.

    Gold Rate Trend in Nellore for February 2018:

    • The second month of the year commenced with the yellow metal priced at Rs.3,040 per gram as demand for the metal declined with a slight rise in the US dollar value from the previous month.
    • Prices plunged to Rs.3,003 per gram on the 8th after the US payrolls and jobs data reported an rise in the number of jobs contributing to the nation’s economy during the month of January, which in turn raised the US dollar index.
    • On the 14th, gold rates surged to their highest monthly figure of Rs.3,103 per gram following an increase in demand for the precious metal on account of Valentine’s day eve.
    • However, with the greenback recovering from its previous rally of losses, demand for the metal declined. This led to prices declining towards the end of the month.
    • The month came to an end with the bullion prices holding at Rs.3,046 per gram on the 28th and Nellore registered a profit of 0.19% in gold trade during the course of the month.

    Gold Rate Trend in Nellore for March 2018:

    • The last month of Q1 2018 commenced with gold prices holding relatively higher at Rs.3,043 per gram amid firm overseas trends.
    • Uneven dollar performances coupled with vagaries in domestic demand for the bullion led to gold rates fluctuating considerably over the next few weeks.
    • The 19th recorded the lowest monthly figure with gold priced at Rs.3,030 per gram amid the strengthening US dollar and rising equity markets.
    • However, as the month progressed, safe haven demand for the metal surged with trade war tensions rising between the US and China. This led to gold rates surging to Rs.3,105 per gram on the 25th.
    • The month concluded with the yellow metal priced at Rs.3,072 per gram on the last day and gold prices in Nellore rose by 0.95% due to the firm trends that pushed demand higher during the course of the month.

    Also Check Gold Price in NearBy Cities of Nellore

    Gold as an investment in Nellore

    Gold bars and coins are widely sold and bought in Nellore. Gold is highly sought-after given its intrinsic value. Many residents in Nellore invest in Gold coins as a hedge against inflation. In many rural areas, the precious yellow metal is more easily accessible and sought-after compared to bank deposits owing to the former being viewed as a robust investment option.

    Physical Gold: There are various jewellery stores in Nellore such as Jain Gold, Shantilal and Sons and Tata Gold Plus among others. Wedding jewellry with intricate designs is much in demand by most consumers in Nellore. Gold rings and various forms of temple jewelry are also much in demand.

    Gold Contracts: The MCX (Multi Commodity Exchange) and NSEL (National Spot Exchange)

    sell spot and future gold contracts in India. MCX Gold contracts are available in two variants - 1 kg and 100 grams (Gold Mini).

    Read more on Gold

    News about Nellore Gold Rate

    • Gold prices show positive trends in the market due to a rise in tensions between China and the U.S.

      On Tuesday, gold prices inched up in the international market due to a sharp rise in the cases of COVID-19 all over the world which resulted in investors shifting to safe-haven assets, thus increasing demand for the metal. The price of the metal showed inclines due to renewed trade tensions between China and the United States of America. On the Multi Commodity Exchange, the price of gold increased by 0.28% to Rs.47,105 per 10 grams whereas, for silver, July futures showed an incline of 1.39% to be priced at Rs.48,927 per kg.

      Due to various factors such as the trade war between China and the U.S. along with the oil trade tensions between Iran and Venezuela, investors have been partial to investing in the bullion market due to increased safe-haven appeal. However, with various factors boosting gold prices, there are various factors such as the reopening of the economy along with equity gains which have kept the gains of gold at bay.

      In the global market, gold prices showed inclines on 26 May 2020 with renewing tensions between China and the United States over subdued demand for the metal in Hong Kong with the renewing economy which had fueled the equities market and put a cap for gold. The value of Spot gold increased by 0.2% to $1,732.38 per ounce and U.S. gold futures were down marginally by 0.1% to $1,733.50 per ounce.

      27 May 2020

    • Gold prices hit a lifetime high of at Rs.44,880 per 10 grams due to increased safe-haven demand

      Gold extended its gains and had touched its highest price ever at Rs.44,880 per 10 grams on 7 April in the Mumbai bullion market. The rise in prices was mainly due to high demand and safe-haven appeal and investors awaiting measures to be taken to mitigate the losses of the economy due to COVID-19.

      With the lockdown in place, major trading centres in the country have been shut down to promote social distancing by state governments along with the central government to combat COVID-19. The rate of 22-karat gold in Mumbai was Rs.41,110 per 10 grams along with a 3% GST and 24-karat gold was priced at Rs.44,880 per 10 grams plus 3% GST. 18-karat gold was priced at Rs.33,660 per 10 grams plus GST in the market.

      16 April 2020

    • Gold futures prices on MCX increase by 0.4% on 20 March 2020

      The prices of gold in India increased slightly on 20 March 2020. However, the prices remain significantly lower when compared to the record highs gold hit earlier in the month.

      Gold futures prices for the month of April on MCX increased by 0.4% and is at Rs.39,996 for 10 grams. The prices of gold have increased for the second day. However, when compared to the record highs of Rs.45,000 for 10 grams that gold hit earlier this month, the prices are still down by Rs.5,000. The value of the rupee increased against the dollar and is at Rs.74.81. In the international markets, the prices of gold increased on 20 March 2020 after seeing a sharp fall over the last few days. The main reason for the reduction in prices was the coronavirus outbreak. Spot gold prices in the international markets increased by 1% and are at $1,484 for an ounce. Last week, the prices of spot gold reduced by 3%. The value of the US dollar did not increase when compared to other currencies as well. This helped in increasing the prices of gold. Even after the sharp fall in gold prices in India, the demand has been low because of the coronavirus outbreak. The government has also decided to shut down all theatres, malls, and other crowded places.

      20 March 2020

    • Prices of gold fall on 3 March 2020 after seeing a sharp rise

      Prices of gold in the Indian markets reduced on 3 March 2020 due to a strong rupee. Gold futures prices on MCX reduced by Rs.80 and touched Rs.41,873 for 10 grams.

      In the previous session, the prices of gold had increased by more than Rs.500 for 10 grams. The value of the rupee pulled back against the dollar and touched Rs.72.59. In the previous session, the value of the rupee against the dollar was at Rs.72.73. The prices of gold in India are inclusive of a 12.5% import duty and 3% GST. In the international markets, the prices of gold increased for the second day after falling on 28 February 2020. The prices of spot gold increased by 0.5% and touched $1,597.66 for an ounce. On 2 March 2020, the prices of spot gold increased by 0.4%. According to a note made by SMC Global, gold futures prices for the month of April may recover towards Rs.42,100 and take support near Rs.41,700. According to various analysts, the prices of gold in the Indian markets may increase in the near term. The fears of the coronavirus also ensured that the demand for gold was maintained. There are expectations that the US Federal Reserve will cut the interest rates due to the virus.

      3 March 2020

    • Gold prices increase due to safe-haven appeal as silver prices take a hit

      Price of gold showed an inclining trend on consecutive days and increased by Rs.72 in the bullion market in Mumbai. Gold prices were hovering at Rs.40,738 per 10 grams and have been on the rise due to increased safe-haven demand amidst rising fears of the Coronavirus outbreak. The death toll in China had crossed 900.

      In Mumbai, 22-karat gold was priced at Rs.37,316 per 10 grams plus a GST of 3%. 24-karat gold, on the other hand, was priced at Rs.40,738 per 10 grams excluding GST. In the retail market, 10 grams of 18-karat gold was being sold at a price of Rs.30,554 per 10 grams.

      The rise in prices was majorly due to the increasing fears of the Coronavirus amongst investors which also affected not only the Chinese economy but also the global economy. Even though the United States of America recorded positive economic data, the effect of the virus outweighed these trends to support the rise in gold prices.

      However, while gold prices are on the rise, silver prices have dipped marginally by Rs.5 to Rs.46,225 per kg and the gold to silver ratio stands at 88.12:1. Gold prices touched an intraday high in the futures market at Rs.40,710 per 10 grams and an intraday low of Rs.46,565 per 10 grams on the Multi Commodity Exchange.

      11 February 2020

    • Prices of gold increase by over 1% due to geopolitical concerns

      On 3 January 2020, gold futures prices for February increased by over 1% due to tensions in the Middle East. The prices of spot gold hit its highest since 5 September 2019 and touched $1,540.48 for an ounce.

      The prices of gold hit a four-month high due to the tensions in the Middle East because of the US airstrike that killed a senior Iranian military official. According to a report by Reuters, the weak dollar also played a role in the increase in prices. The prices of spot gold increased by 1.9% for the week. This has seen the prices of gold increase for four weeks in a row. In India, the prices of gold futures for February on MCX increased by Rs.438 and touched Rs.39,715 for 10 grams. The prices of gold increased after the US strike in Baghdad killed several Iranian officials. During the opening session, the prices of gold in the international market tested $1,540 for an ounce. On MCX, the prices of gold tested the Rs.39,700 levels. The value of the dollar also decreased for the second week in a row. According to a report from Reuters, the prices of gold became cheaper for other currency holders because of the weak dollar.

      6 January 2020

    • Gold prices decrease by Rs.40 in Mumbai on 2 December 2019

      Prices of gold reduced by Rs.40 in Mumbai and hit Rs.37,979 for 10 grams on 2 December 2019. The prices of gold in the international market were weak as well. The main reason for the reduction in prices was the factory data in China being positive.

      The prices of 22-carat, 24-carat, and 18-carat gold in Mumbai are at Rs.34,789, Rs.37,979, and Rs.28,484 plus GST for 10 grams. The prices of silver reduced by Rs.170 and hit Rs.44,200 for a kg. Gold futures prices ranged between Rs.37,100 and Rs.37,970 on MCX. Gold futures prices for February reduced by Rs.150 and hit Rs.37,854 for 10 grams. Gold contracts for the month of December reduced by 0.42% and hit Rs.37,870 for 10 grams. Gold contracts for April also reduced by 0.32% and hit Rs.37,909 for 10 grams. Gold Mini contacts for January reduced by 0.33% and hit Rs.37,900. According to Motilal Oswal, gold prices on MCX are supported at Rs.37,700-37,520 and resistance ranges between Rs.37,930 and Rs.38,080. However, the movement of gold is expected to be sideways for the day. In the international market, support for gold is at $1,440 and resistance for gold is at $1,470. Spot gold prices in the international market reduced by $9.05 and hit $1463.65 for an ounce.

      4 December 2019

    • Prices of gold decrease by Rs.2,000 since September

      Prices of gold in India continued to be choppy on 7 November 2019. Gold prices remained choppy in the global market as well. Gold futures prices on MCX reduced by 0.64% and hit Rs.38,003 for 10 grams.

      Prices of gold increased by Rs.360 or 1% in the previous session. On 5 November 2019, prices of gold decreased by 1.6%. Since September, where gold prices hit record highs of Rs.40,000, prices have come down by nearly Rs.2,000. In the international markets, prices of gold were marginally higher at $1,490.89 for an ounce. Gold prices were supported as there were worries of a delay in the trade deal between China and the US. According to a report from Reuters, the trade deal could be delayed as discussions were still ongoing regarding the venue and the terms. According to various analysts, prices of gold will remain in this range as investors as waiting for updates on the trade deal. Prices of gold have increased by nearly 16% this year in the global market because of the trade war between China and the US. Gold prices in India have increased by over 20% this year due to import duty hike and the value of the rupee against the dollar.

      8 November 2019

    • Gold falls after Bexit deal between Britain and EU

      The global prices of Gold fell after Britain and European Union (EU) had an agreement regarding the former initiating Brexit. However, weak economic date from United States and China limited the loses.

      The prices of spot gold were down 0.2% at $1,489.02 an ounce, while U.S. gold futures dropped 0.4% to $1,492.50.

      EU were confident of a new Brexit deal with Britain more than three years after the latter voted to exit the union. However, Boris Johnson who is the Prime Minister of Great Britain faced a Brexit showdown in the parliament on Saturday.

      Meanwhile China’s third-quarter economic growth slowed down more than it was expected by the analyst. It was the slowest pace at which the Chinese economy grew in almost thirty years.

      U.S. data also showed the retail sales dropping for the first time in seven months, which clearly suggested that weakness showed by manufacturing can spread to the broader economy. The industrial output for the last month also fell.

      Palladium dropped 0.1% to $1,757.07 an ounce, after hitting a record increase of $1,783.21.

      The silver was down $1,783.21, while Platinum was down 0.4% at $884.07.

      21 October 2019

    • Price of gold remains unchanged in global markets

      On Thursday, the price of gold remained unchanged after a 1% jump in prices in the previous session. This was majorly due to investors seeking more data to check the economic health of the United States of America. The economic health would determine and influence any other action taken by the United States Federal Reserve on interest rates.

      Spot gold remained steady at $1,498.89 per ounce. However, gold futures dipped marginally by 0.3% to $1,502.9 per ounce.

      As per Mr. Jigar Trivedi, commodities analyst at Anand Rathi Shares and Stockbrokers, there have been minor pullbacks on profit-booking by investors. However, the sentiment in the market for gold remains positive.

      The yellow metal’s prices jumped by 1.4% on Wednesday due to low hiring by United States private employers. This disappointed investors even further who are already concerned about the global economic slowdown.

      3 October 2019

    • Gold Prices Drop by Rs.270 Among Weak Investor Sentiment

      Gold prices fell by Rs.270 to Rs.38,454 per 10 grams in New Delhi as the value of the rupee increased and the investment sentiment overall was weak, as per HDFC Securities. Silver prices in the capital of the country also fell by Rs.380 per kilo to Rs.47,310. In just the previous trading session, silver finished at Rs.47,690 per kg. Tapan Patel, a Senior Analyst at HDFC Securities revealed that the price of gold in the country experienced losses, especially for 24 karat gold.

      The spot rupee faced losses in the morning but recovered and traded 14 paisa stronger in comparison with the dollar, according to Mr Patel. On Thursday, the Rupee opened 24 paisa down against the American dollar, at 71.36. So far as global markets were concerned, gold prices were recorded at $1497 per ounce in New York. Silver, on the other hand, was trading at $17.72 per ounce. Geojit Financial Services’ head of commodity research, Mr Hareesh V, stated "Spot gold held below USD 1,500 an ounce, as investors stayed away from taking fresh bets after the US Federal Reserve's policy meeting that has not given a clear picture on the central bank’s policy outlook.” He went on to say that domestic silver and gold traded down because of a stronger rupee as well as weak global sentiments.

      19 September 2019

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