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Noida (New Okhla Industrial Development Authority) is a planned city in Uttar Pradesh. This was set during the Emergency period as a part of urbanisation thrust. The city has the highest per capita income. It is the hot spot for IT companies. Rs.20,000 crore was offered for development of Noida in 2014 Budget. It is a fast growing city and it has a large number of people residing in it. The demand for gold is high due to the large number of residents. The demand for gold increases by a lot during the festivals and wedding season. The gold rate in Noida depends on the international gold rate.
Gold Rate in Noida
Gold rate per unit in Noida is determined based on the purity of the gold. Buyers can purchase gold in either 24 karat, 22 karat, 18 karat or 14 karat form. 14 karat gold is cheaper and 24 karat gold is expensive. Gold rate in Noida changes as and when the international gold rate changes. 2015 saw a fall in gold rate, but the rates started climbing in January, 2016.
24 karat gold:
24 karat gold is the purest form of gold as it includes 99.95% gold mass. It is a very soft metal therefore it cannot be used to make jewellery or other ornaments. The gold rate for 24 karat gold in Noida is Rs.29,800 per 10 grams as on 14th March, 2016.
22 karat gold:
22 karat gold is a highest quality gold as it has 91.6% gold mass. As it has a shiny yellow coat, it is used to make jewellery and ornaments. The brightness of the 22 karat gold depends mainly on the metal that it is alloyed with. Mostly 22 karat gold is alloyed with silver or copper. When 22 karat gold is alloyed with copper, you end up getting a reddish tint. When zinc is also added to copper it will neutralise the rose color and make it look yellow.
Jewellers prefer alloying 22 karat gold with silver. It is the most common form of retail gold jewellery. But it is worn off easily, so you must take special care of the ornament. The gold rate for 22 karat gold in Noida is Rs.27,830 per 10 grams as on 14th March, 2016.
18 karat gold:
18 karat gold includes 75% of the gold mass and this makes it the popular karat for jewellery. It provides ample strength to hold the gemstones, diamonds and emeralds in place. Pink and rose gold are also 18 karat gold.
14 karat gold:
14 karat gold includes 58.3% gold mass and it is the cheapest type of gold jewellery. When you alloy 14 karat gold with copper, you will get a dull bronze color. When 14 karat gold is alloyed with silver or nickel you will get white gold.
Gold Rate Trend in Noida for April 2016 to June 2016 (per gram of 24 karat gold)
|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||Rs.3,167 per gram on the 30th of June|
|Highest Price||Rs. 3,119 per gram on April 30||Rs. 3,120 per gram on May 7||Rs.3,182 per gram on the 28th and 29th of June|
|Lowest Price||Rs. 2,933 per gram on April 5||Rs. 2,960 per gram on May 31||Rs.2,950 per gram on 2nd of June|
Gold Rate Trend of Noida in April 2016
- There were minor fluctuations seen in the month of April.
- The highest rate of gold in the month was on the last day with gold trading at Rs. 3,119 per gram.
- The lowest rate of gold was on the 5th of the month wherein gold was priced at Rs. 2,933 per gram.
- An increase of 5.98% was observed in the rate of gold as the month progressed.
Gold Rate Trend of Noida in May 2016
- Gold rate traded at Rs. 3,119 per gram on the first day of the month.
- As the month of May progressed, a decline of 5.09% was noted.
- The lowest rate of gold in the entire month was on the last day of the month, at Rs. 2,960.
- The decline could be attributed to an expected increase in interest rate by U.S. Fed and an ongoing strike.
Gold Rate Trend of Noida in June 2016
- Gold traded at Rs.2,960 per gram on the 1st of June.
- Gold hit its lowest on 2nd of June at Rs.2,950 per gram.
- Gold hit the highest for the month on 28th of June at Rs.3,182 per gram.
- Prices steadily increased over the week as gold closed the month at Rs.3,167 per gram on the 30th of June.
Gold Rate Trend in Noida for January 2016 to March 2016 (per gram of 24 karat 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. 2,772 per gram on January 20||Rs. 3,037 per gram on February 29||Rs. 3,030 per gram on March 1|
|Lowest Price||Rs. 2,580 per gram on January||Rs. 2,756 per gram on February 1||Rs. 2,940 per gram on March 15|
Gold Rate Trend of Noida in January 2016
- On the 1st of the month, gold rate traded at Rs. 2,585 per gram.
- There were some fluctuations noticed in the price of gold as the month progressed.
- A rise of 6.61% was seen in the rate of gold at the end of the month, closing at Rs. 2,756 per gram which was also the highest of the month.
Gold Rate Trend of Noida in February 2016
- At the beginning of the month, gold traded at Rs. 2,756 per gram.
- Due to a steady demand and wedding season, the rate of gold increased with minor fluctuations.
- Gold rates closed at Rs. 3,037 per gram on the 29th of February which was also the highest per month.
Gold Rate Trend of Noida in March 2016
- Although gold traded at Rs. 3,030 per gram, there was a steady decline in prices as the month progressed.
- This could be attributed to an ongoing jeweller’s strike or expectations of interest rate hike by U.S Fed.
- A decline of 2.70% was noted in the rate of gold.
Gold investment avenues in Noida
Residents of Noida love buying gold in the form of jewellery or for purpose of investing. Gold sales high during the festivals and wedding season. Investors also prefer to buy gold to protect themselves from the fluctuating market. Gold is treated as a safe haven asset. Gold can be brought in Noida in the following ways:
- Over the counter purchases:
Noida residents prefer looking at the jewellery and try it on before actually buying it. There are a many jewellers in Noida from where people can buy gold in any form. Gold can be brought in the form of coins and bars from the bank as well as jewellers. You also get a purity certificate when you buy gold from the bank which makes it costlier.
- Market trade:
Gold can be purchased from anywhere as now you have access to E-gold, futures and ETFs. E-gold is traded at National Spot Exchange. Bombay Stock Exchange trades ETFs. However, trading in gold is subject to certain risk which you must be aware of before you start trading.
Also Check Gold Price in NearBy Cities of Noida
|Gold Rate In Agra||Gold Rate In Bareilly||Gold Rate In Lucknow|
|Gold Rate In Meerut||Gold Rate In Ghaziabad||Gold Rate In Kanpur|
|Gold Rate In Varanasi||Gold Rate In Allahabad||Gold Rate In Aligarh|
|Gold Rate In Delhi||Gold Rate In Gurgaon|
- Also Check: Gold Rate in Uttar Pradesh
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- How Gold Rate Fluctuation Affects Indian Economy
- How are Gold Rates Determined?