Gold Rate In Panaji

*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 Rates in Panaji

Panaji primary demand for gold is for use as jewelry. Investments are the next greatest demand driver. Despite the importance of the yellow precious metal being more for the sake of ornamentation. It is important to know gold rates in the city located in one of the most pleasant states in India, Goa since the state is very prosperous and there are more than often people who can afford it as a wealth investment in this part of the country. The city is also home to a lot of foreigners and expats mainly dealing with tourism. It is one of the most well known destinations in the country for tourism especially because of its location. Hence, it is important to know the gold rates in this city.

Trend of Gold Rate in Panaji for July 2017 (rates per gram for 24 karat gold)

June ‘17- Week 1 (1st to 4th)

• Gold price in Panaji saw minor fluctuations in the first week of June, though prices increased during the course of the week.
• The week opened with gold trading at Rs.2,950 per gram on 1 June.
• Industrial demand rose due to a drop in U.S. dollar rates, resulting in an increase in demand for the precious metal.
• Gold ended the week trading at Rs.2,998 per gram on 3 & 4 June.

June ‘17- Week 2 (5th to 11th)

• Gold price in Panaji rose in the second week as demand was stable but fell towards the end of the week due to a combination of factors.
• Gold traded at Rs.3,006 per gram on 5 June as dollar rates continued to be low due to internal tensions in the United States as well as weak markets.
• Continued steady demand from overseas led to gold prices rising to Rs.3,030 per gram on 7 June, the highest rate for the month.
• As stock markets began to recover from their initial losses, demand for gold also began to slide with the metal trading at Rs.2,987 per gram on 9 June.
• Gold rate in Panaji fell further as the week ended, with gold trading at Rs,2,981 per gram on 11 June due to declining interest from overseas industry.

June ‘17- Week 3 (12th to 18th)

• The third week saw the price of gold continue to slide, with the yellow metal trading at Rs.2,983 per gram on 12 June.
• Fluctuations in the price due to demand vagaries led to the gold rate in Panaji falling to Rs.2,973 per gram on 14 June.
• A decline in local demand due to overseas trends led to prices continuing to drop, as gold traded at Rs.2,954 per gram on 16 June.
• As markets across the world rallied on strong economic projections, gold price in Panaji faltered towards the end of the week, trading at Rs.2,955 per gram on 18 June.

June ‘17- Week 4 (19th to 25th)

• Prices were low as the week began, with gold trading at Rs.2,949 per gram on 19 June due to poor demand from overseas as well as weak demand from domestic jewellers.
• Gold recorded its lowest price for the month on 20 June, trading at Rs.2,942 per gram due to consistently poor demand.
• A sudden dip in the U.S. dollar rate led to prices recovering marginally as gold prices rose to Rs.2,958 per gram on 22 June.
• The rise in price continued for the rest of the week as retail demand also increased.
• Gold ended the week trading at Rs.2,964 per gram on 25 June as local demand helped boost flagging demand.

June ‘17- Week 5 (26th to 30th)

• The last week of June saw the price of gold fluctuate, though it opened at a stable Rs.2,977 per gram on 26 June.
• Gold Price in Panaji fell to Rs.2,957 per gram on 27 June due to a drop in demand from Asian industrial units, though local demand kept prices from falling too steeply.
• Higher retail demand led to prices recovering as gold traded at Rs.2,970 per gram on 28 June.
• Minor fluctuations in overseas demand led to prices falling as the month ended, resulting in gold trading at Rs.2,962 per gram on 30 June.
• The dip in price towards the end of the month led to gold losing 0.50% of its value over the course of the month.

Trend of Gold Rate in Panaji for June 2017 (rates per gram for 24 karat gold)

June ‘17- Week 1 (1st to 4th)

• Gold prices for Panaji fluctuated in the first week of June but ended on a high due to increased demand from the industrial sector.
• Gold traded at Rs.2,933 per gram on 1 June before falling sharply to Rs.2,915 per gram on 2 June.
• Local demand helped boost prices as jewellers and retailers increased orders in anticipation of higher rates after the implementation of GST.
• Gold prices rose to Rs.2,940 per gram on 3 June and the price remained unchanged as the week ended on 4 June.

June ‘17- Week 2 (5th to 11th)

• Market fluctuations as well as internal tensions led to a dip in the U.S. dollar rate and a plunge in the stock markets, which led to an increase in gold demand.
• The yellow metal traded at Rs.2,995 per gram on 5 June on the back of strong demand from investors as well as industry as currency markets were unstable.
• Gold rate in Panaji rose to their monthly high of Rs.2,965 per gram on 8 June as local demand also rose due to positive cues from overseas.
• As the week progressed, demand dropped slightly as stock markets began to recover from their earlier poor performance, with gold prices falling to Rs.2.940 per gram on 9 June.
• Gold prices fell further as the week ended, with gold trading at Rs.2,930 per gram on 11 June due to a sharp drop in demand.

June ‘17- Week 3 (12th to 18th)

• As markets recovered and currency markets stabilised, demand for gold fell further, with the metal trading at Rs.2,925 per gram on 12 June.
• Prices rose marginally to trade at Rs.2,930 per gram on 14 June but soon fell as positive data from the United States led to a rally by stock markets globally.
• Gold was priced at Rs.2,915 per gram on 16 June amidst a slowdown in industrial demand for the metal.
• Gold price in Panaji rose to Rs.2,910 per gram on 18 June but the overall trend was one of a drop in demand.

June ‘17- Week 4 (19th to 25th)

• The downward slide in the price of gold continued in the fourth week as the metal traded at Rs.2,905 per gram on 19 June.
• Sharp cuts in orders led to prices falling to their lowest rate of Rs.2,895 per gram on 20 June, though demand from local jewellers led to prices rising as the week progressed.
• Asian demand for gold also helped raise prices, as gold traded at Rs.2,910 per gram on 23 June.
• Stable and consistent demand from jewellers as well as a rise in demand from retailers led to gold ending the week trading at Rs.2,920 per gram on 25 June.

June ‘17- Week 5 (26th to 30th)

• With the imposition of GST not far off, demand for gold increased as markets were apprehensive of the switch to the new system.
• Gold traded at Rs.2,918 per gram on 26 June but fell to Rs.2,900 per gram on 27 June due to a rally by the U.S. dollar which led to a lowering of demand overseas.
• The unstable Indian stock market led to investors rushing to invest in bullion, which raised gold’s valuation to Rs.2,960 per gram on 28 June.
• Apart from a minor fluctuation, prices were stable as the month ended, with gold trading at Rs.2,920 per gram on 30 June, though prices fell by 0.44% over the course of the month.

Trend of gold Rate in Panaji for May 2017 (rates per gram)

May ’17 – Week 1 (1st – 7th)

• On the first day of the month of May in Panaji, gold was priced at Rs.2,945 per gram. This rate was not sustained, however and the price of gold fell to trade at Rs.2,905 per gram on the 2nd and 3rd of April.
• The price of gold was near a three-week low following diminishing demand for sale-haven bullion as Asian equities rallied. At the same time, the U.S. dollar gained as compared to the yen resulting in a drop in the price of gold.
• Rate of this metal reduced on the 4th of trade at Rs.2,875 per gram and continued to trade at this rate on the 5th of May as well.
• On the last two days of the week, gold was priced at Rs.2,850 per gram in Panaji due to a fall in the demand for this metal.

May ’17 – Week 2 (8th – 14th)

• Due to a reduction in the demand, the price of gold continued to fall as well with this metal trading at Rs.2,850 per gram on the first day of the second week.
• As the week progressed, the price of this metal continued to fluctuate due to various geopolitical factors as well as decline in demand.
• Gold traded at Rs.2,855 per gram on the 10th of May. The euro strengthened after Emmanuel Macron, a pro-EU candidate won the French presidential election.
• However, as the demand for this precious metal declined, the price of gold declined as well, with this metal trading at Rs.2,840 per gram from the 11th of May until the 14th of May . This was also the lowest at which this metal was priced at for the month in Panaji.

May ’17- Week 3 (15th – 21st)

• The price of this metal was Rs.2,845 per gram on the 15th of May, which was marginally higher than the rate noted during the previous week.
• Gold continued to trade at this rate until the 17th of this month as a result of sustained demand for gold from domestic markets.
• Due to increased demand, the rate of gold rose marginally to trade at Rs.2,905 per gram on the 18th of April but fell the next day.
• On May 19, gold was priced at Rs.2,900 per gram and increased by Rs.8 the next day to trade at Rs.2,908 per gram. This rate was noted until the 21st of the month due to sustained demand for this metal from international and domestic markets.

May ’17 – Week 4 (22nd – 28th)

• Gold opened the week at Rs.2,930 per gram but fell the next day to trade at Rs.2,915 per gram. This rate was noted until the 26th of May.
• As Asian stocks gained, gold rate reduced marginally. In addition to this, the Manchester blast did not have a significant impact on the rate of this metal.
• The U.S. Federal Reserve’s meeting hint at a chance of an interest rate hike which resulted in gold trading quite steadily.
• On the last two days of the week, gold traded steadily at Rs.2,930 per gram.

May ’17 – Week 5 (29th – 31st)

• There were a few variations noted in the rate of gold during the last three days of the month in Panaji.
• Gold was priced at Rs.2,930 per gram on the 29th but increased marginally on the 30th to trade at Rs.2,938 per gram.
• Gold traded at Rs.2,918 per gram on the 31st, recording a decline of 0.91% in the rate of gold.

Gold Investments in Panaji

When it comes to a safe investment option, Gold is considered to be one of the least riskiest of trading commodities in any market, whether regional or global. In Madhya Pradesh too the yellow metal is considered an investment option that is lower on risk factors, primarily based on the fact that it is highly affordable and culturally significant as mentioned before. Most families find this metal auspicious such as weddings and Dhanteras season. Investors in this part of the country also find it an integral part of their investment portfolio along with stock market and mutual fund investments. Investors have various options for gold trading through gold contracts and physical gold.

Physical Gold: Jewelleries and ornaments are quite popular in the city and some of the largest jewellers in the country have significant presence in the city. Some of the leading jewellers include Tanishq, Nagvekar and Shobha jewellers. Apart from jewelleries, gold bullion can also be purchased in the city from reputed dealers, while coins can be purchased from dealers and banks. Generally it is a good idea to buy your gold from the banks since they are certified and you can be worry free about their purity. you also get a receipt which you can later use for trading gold for wealth. due to the cosmopolitan and travelling population in Goa, gold is mainly popular among tourists although it is a good idea to be alert about the gold rates in Panaji to avoid being cheated on.

Market Trade: In Panaji you can purchase gold through the markets, with gold being traded in the National Multi Commodity Exchange, National Commodity and Derivatives Exchange and the Multi Commodity Exchange. This is apt for individuals willing to purchase gold in bulk, with the minimum trading limit being set at 1 kg in general. It's a viable option for people who are well aware of the gold market and all that affects it.