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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 14^th 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 14^th 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 2017 to June 2017 (per gram of 24 karat gold)

Gold rate trend in Noida for April 2017

• Gold prices in Noida rose in the month of April due to favourable market conditions as well as increased demand.
• Gold opened the month at Rs.2,991 per gram on 1 April and rose to Rs.3,003 per gram on 4 April as tensions in the Korean peninsula led to markets falling and higher demand for bullion.
• Gold rate in Nodia dipped due to a reduction in demand from European markets which led to gold falling to Rs.2,983 per gram from 8-10 April.
• Demand soon rose to Rs.3047 per gram on 14 April as the weak dollar led to increased bullion buying as U.S. jobs data was disappointing.
• Prices remained high as local demand as well as industrial demand from Asia was steady, keeping prices at Rs.3,057 per gram from 17-21 April.
• Gold ended the week trading at Rs.3,011 per gram on 30 April and recording a 0.66% increase in price over the course of the month.

Gold rate trend in Noida for May 2017

• Gold prices were high as the month began but petered off due to a rising U.S. dollar and strong markets.
• May opened with gold trading at Rs.3,011 per gram but prices soon fell to Rs.2,952 per gram from 4-7 May as European markets rose on news of the victory of Emmanuel Macron in the French presidential election.
• Prices dropped further as U.S. markets were also on the increase, resulting in gold falling to Rs.2,918 per gram from 11-15 May.
• Local demand was steady due to increased demand from jewellers, which pushed prices to Rs.2,991 per gram on 18 May.
• Prices fluctuated due to unsteady demand from Asian consumers, with gold hovering around Rs.2,977 per gram in the third week of May.
• Gold failed to capitalise on a weakening U.S. dollar as it traded at Rs.2,992 per gram on 31 May, recording a loss of 0.49%.

Gold rate trend in Noida for June 2017

• A rise in the rate of gold was observed in June due to a drop in the U.S. dollar rate, which led to higher demand for bullion.
• Gold was priced at Rs.3,012 per gram on 1 June as demand was stable from the previous month before prices rose to Rs.3,057 per gram on 7 June due to plunging U.S. markets.
• Sluggish industrial demand and muted local demand led to prices falling in spite of favourable conditions as gold traded at Rs.3,007 per gram from 10-15 June.
• A momentary rise in stocks led to a drop in demand for gold as the metal traded at Rs.2,982 per gram from 17-22 June, as local demand was also poor.
• Prices fluctuated as the month drew to a close, with gold priced at Rs.2,992 per gram on 30 June.

Gold Rate Trend in Noida for January 2017 to March 2017 (per gram of 24 karat gold)

Gold Rate Trend in Noida for January 2017:

• The month of January was a great period for gold sales in Noida as prices seemed to increase over the course of the month.
• On 1st January, gold was priced at Rs.2,844 per gram, which went up to Rs.2,855 per gram on 4th and then to Rs.2,866 per gram on 5th as demand increased.
• By 10th, gold prices had gone up to Rs.2,888 as demand provided no signs of letting down.
• All the positive growth was due to the rapid influx of cash into the system which was on short supply over the previous quarter.
• On 20th, prices prices had gone up to Rs.2,952 per gram and again went up to reach the highest rate for the month - Rs.2,979 per gram - on 24th.
• However, prices went down slightly by the end of the month as bullion finished trading at Rs.2,958 per gram.
• During January, gold prices rose by 4% due to a sustained demand for the metal.

Gold Rate Trend in Noida for February 2017:

• February again was a good month for gold sales in Noida as prices seemed to go up this month as well.
• The month started with gold selling at Rs.2,978 per gram but went down to Rs.2,957 per gram by the 6th due to a sudden fall in demand.
• Rates seen from the 4th to the 6th i.e., Rs.2,957 per gram were the highest rate of gold for the entire month.
• On 7th, gold prices went up considerably, thereby suggesting that the sudden slowdown over the previous three days was temporary.
• By the end of the 17th, gold prices had gone up to Rs.3,,004 per gram albeit after significant fluctuations.
• The last ten days of the month saw little change in gold prices as there was a sustained demand for bullion in the city.
• From 18th to the 24th, gold was trading at Rs.2,999 per gram as there was no change in demand.
• On 25th, gold prices had gone up to Rs.3,031 per gram - the highest rate for the entire month - but fell to Rs.3,020 per gram on 28th.
• Overall, Noida saw gold prices change at the rate of 1.41% for the month of February.

Gold Rate Trend in Noida for March 2017:

• Gold rates fell during the month of March owing to a number of national and international factors.
• The month began with gold trading at Rs.3,009 per gram but fell to Rs.2,990 per gram on 3rd and then to Rs.2,977 per gram on 9th.
• Gold rates seemed to be on a freefall as they fell to Rs.2,965 per gram on 10th but increased slightly to Rs.2,971 per gram to calm the markets on 11th.
• All the change in prices was due to the US Fed rate hike, which increased the value of the US dollar, thereby spurring a downfall in demand.
• Gold rates reached their worst for the month on 15th when they hit Rs.2,950 per gram - the lowest price of gold for March.
• However, prices picked up gradually over the next few days to end the third week at Rs.2,970 per gram.
• Rates again fluctuated considerably over the last ten days of March before ending the month at Rs.2,991 per gram.
• All in all, gold rates in Noida decline at a rate of 0.59% for the month of March.

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.