Gold Rate In Noida Today

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Gold Price In Noida

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. 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 Trend in Noida for October 2020 to December 2020 (per gram of 24 karat gold)

Quarterly Gold Rate in Noida from October 2020 to December 2020:

• In October, the rate of gold in Noida opened at Rs.5,166 per gram and closed at Rs.5,171 per gram. The gold prices had increased by 0.096% for this month. The outbreak of the virus all over the world and the stimulus measures introduced by governments and central banks ensured that gold rates increased significantly.
• On 1 November 2020, the price of gold was at Rs.5,196 for a gram. By the end of the month, gold rates had reached Rs.5,146 per gram. Gold prices in Noida had dipped as many countries decided to reopen their economies. Gold rates declined by 0.96% in November.
• In December, the rates of the yellow metal had increased by 0.43%. The highest and lowest rates that the yellow metal hit for the month were Rs.5,373 per gram and Rs.4,860 per gram. 

Gold Rate Trend in Noida for July 2020 to September 2020 (per gram of 24 karat gold)

Quarterly Gold Rate in Noida from July 2020 to September 2020:

• Gold rate in Noida opened the month of July at Rs.4,946 per gram on 1 July and showed an inclining trend. The price of the previous metal was lowest on 7 July at Rs.4,925 per gram and at the end of the month, gold prices hit its monthly high at Rs.5,439 per gram, closing with a percentage incline of 9.96%.
• In August, gold prices showed a declining trend as the value of the dollar recovered in the market. Gold rate opened at Rs.5,481 per gram and was at its highest on 8 August at Rs.5,749 per gram. On 27 August, the metal was at its lowest and closed at Rs.5,250 per gram, with a decline of -4.21%.
• Opening at Rs.5,287 per gram on 1 September, gold price in Noida fluctuated to a great extent, hitting its highest price at Rs.5,077 per gram on 16 September and was at its lowest on 29 September at Rs.5,077, closing with a decline of -2.87%.

Gold Rate Trend in Noida for April 2020 to June 2020 (per gram of 24 karat gold)

Quarterly Gold Rate in Noida from April to June:

• For the month of April 2020, gold opened at the rate of Rs.4,253 per gram in Noida. The price remained steady at this rate till the 20th of April 2020. The prices went up after that and recorded the highest price on the second last day of the month wherein it stood at the rate of Rs.4,846 per gram. It closed at the rate of Rs.4,761 per gram. There was a hike of 11.94% in the overall performance of the metal.
• Opening the month of May 2020 at the rate of Rs.4,699 per gram, gold prices in Noida witnessed an overall incline for the month. The highest price of the yellow metal was recorded on the 18th and 19th of May wherein it stood at the rate of Rs.4,883 per gram. The month came to an end with the price of the precious metal standing at the rate of Rs.4,799 per gram. The overall performance increased by 2.12%.
• The price of the yellow metal opened the month of June 2020 at the rate of Rs.4,799 per gram and showed an overall inclining trend of 3.38% with risk appetite amongst investors increasing. The month came to a close with the highest price of gold being recorded on the last day wherein it stood at the rate of Rs.4,961 per gram.

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

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

• The price of Gold in January opened at Rs.3,995 and closed at Rs.4,169. The ongoing trade tensions between Washington and Beijing along with escalated tensions between Middle East and U.S were major reasons behind the increase in the price of gold. The highest price of gold touched Rs.4,211 per gram on 9 January. The price of gold however fluctuated due to Chinese New Year with the lowest rate touching at Rs.3,995 per gram on the first day of the month as trade tensions between U.S and China, and political conflicts between U.S and the middle east eased. The overall price of Gold for the month of January rose by 4.35%
• The gold prices for the month of February opened at Rs.4,169. There were lot of fluctuations in the gold prices before it closed at Rs.4,368 on 29 February 2020. The news of outbreak of Covid-19 severely impacted the performance of global markets forcing the investors to turn towards safe havens such as gold. The price of gold touched its highest on 25 February 2020 at Rs.4,394. The monetary policy intervention by the People’s Bank of China was one of the major reasons behind the stock market numbers looking upwards as the price of yellow metal was recorded to be the lowest for the month at Rs.4,116 on 7 February. The price of gold for the month of February rose by 4.77%
• The month of March saw the gold prices opening at Rs.4,274 per gram and closing at Rs.4,253 per gram. The gold prices touched its highest on 7th March at Rs.4,536 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 20th March at Rs.4,111 as investors sold their shares in order to save cash as global economy went through a difficult period. 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 Noida declined by 0.49%.

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.