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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 September 2017 (rates per gram for 24 karat gold)
|Parameters||Gold price (24 karat)|
|Gold rate on 1st September||Rs.2,956 per gram|
|Gold rate on 30th September||Rs.2,985 per gram|
|Highest Rate in September||Rs.3,056 per gram on 8 September|
|Lowest Rate in September||Rs.2,956 per gram on 1 September|
|Overall Monthly Performance||Incline|
September 2017 - Week 1 (1st-10th)
- The week started off with gold trading at Rs.2,956 per gram on the 1st.
- An increase in demand from investors and retail jewellers result in gold prices in Panaji rising to Rs.2,995 per gram on the 2nd.
- Prices remained unchanged at Rs.2,995 per gram on the 3rd due to steady local demand, before rising to Rs.3,015 per gram the next day.
- Demand for the metal increased in the global bullion market as North Korea began their most powerful nuclear test. This resulted an increase in safe-haven investments, and gold was trading at Rs.3,029 per gram on the 5th.
- Safe-haven investments continued to rise which resulted in the precious metal trading at Rs.3,034 per gram on the 6th.
- The 8th witnessed the bullion trade surging after an incline in purchases made by investors worldwide. This was the result of North Korea having successfully tested its most powerful nuclear test to date which led investors refuging in safe-haven investments.
- Gold prices in Panaji dropped to Rs.3,041 per gram on the 9th as the dollar value gained over other apex currencies.
- The week ended with the yellow metal trading at Rs.3,041 per gram on the 10th.
September 2017 - Week 2 (11th-17th)
- Demand for the metal fluctuated during the week due to conflicting market trends and volatile dollar value.
- Gold opened the week at Rs.3,109 per gram on the 11th of September.
- Overseas relations between the US and North Korea escalated with the North Korean nuclear tests. However, an uncharacteristic drop in local demand resulting in gold prices dropping to Rs.3,001 per gram on the 12th.
- Gold recovered the next day as price rose to Rs.3,010 per gram on the 13th.
- Gold prices in Panaji dropped to Rs.2,995 per gram on the 14th, but rose the next day to trade at Rs.3,013 per gram on the 15th.
- Demand for the metal dropped towards the end of the week and gold was trading at Rs.3,005 per gram on the 17th.
September 2017 - Week 3 (18th-24th)
- The third week in Panaji saw prices fall significantly as demand for the metal fluctuated considerably.
- Gold opened trading at Rs.3,005 per gram on the 18th when the week began.
- The 19th witnessed demand drop significantly and prices slid to Rs.2,971 per gram in the city.
- The US-North Korea conflicts pushed gold rates to Rs.2,995 per gram on the 20th. Another reason for the hike in prices was the increased demand during the pre-festive season.
- However, the strengthening US dollar pushed gold prices down to Rs.2,970 per gram on the 21st.
- Gold rates in Panaji surged to Rs.2,990 per gram the next day owing to an increased demand from retail jewellers and investors.
- Gold price in Panaji fell to Rs.2,980 per gram on the 23rd as demand dropped in the domestic market.
- The week ended with prices remaining the same at Rs.2,980 per gram on the 24th with low but steady demand.
September 2017 - Week 4 (25th-30th)
- When the week began, gold was trading at Rs.2,970 per gram on the 25th.
- Gold rates surged to Rs.3,029 per gram the next day after the festive sales pushed up demand in the city.
- Poor trading cues and a strong US dollar value resulted in gold prices dropping to Rs.3,005 per gram on the 27th.
- Prices dropped further to Rs.2,985 per gram on the 28th as a result of reduced demand in the jewellery industry.
- However, steady demand over the next two days led to gold prices remaining unchanged at Rs.2,985 per gram on the 29th and the 30th.
Trend of Gold Rate in Panaji for August 2017 (rates per gram for 24 karat gold)
|Parameters||Gold price (24 karat)|
|Gold Rate on 1st August||Rs.2,878 per gram|
|Gold Rate on 31st August||Rs.2,956 per gram|
|Highest Rate in August||Rs.2,976 per gram on 29 August|
|Lowest Rate in August||Rs.2,845 per gram on 7 August|
|Overall Monthly Performance||Incline|
|Parameters||Gold price (24 karat)|
|July 1st Rate||Rs.2,950 per gram|
|July 31st Rate||Rs.2,874 per gram|
|Highest Rate in July||Rs.2,950 per gram on 1 & 2 July|
|Lowest Rate in July||Rs.2,796 per gram on 14 July|
|Overall Monthly Performance||Decline|
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.
|Parameters||Gold price (24 karat)|
|June 1 Rate||Rs.2,933 per gram|
|June 30 Rate||Rs.2,920 per gram|
|Highest Rate in June||Rs.2,960 per gram on 8 June|
|Lowest Rate in June||Rs.2,895 per gram on 20 June|
|Overall Monthly Performance||Decline|
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.
|May 1st Rate||Rs.2,945 per gram|
|May 31st Rate||Rs.2,918 per gram|
|Highest Rate in May||Rs.2,945 per gram on the 1st of May|
|Lowest Rate in May||Rs.2,840 per gram from 11th May to 14th May|
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.
|April 1st Rate||Rs.2,910 per gram|
|April 30th Rate||Rs.2,945 per gram|
|Highest Rate in April||Rs.2,990 per gram from 14th April to 16th April and 22nd and 23rd April|
|Lowest Rate in April||Rs.2,905 per gram on 10th April|
April ‘17 - Week 1 (1st to 9th)
- On the 1st of April, the rate of gold in Panaji was Rs.2,910 per gram. The reduced rate of this precious metal was a result of the U.S. Federal Reserve’s dovish tone regarding rate of interest in addition to slow U.S. market data.
- The above rate of gold was witnessed until the 3rd of the month.
- The rate of gold increased on the 4th of April by Rs.20 to be priced at Rs.2,930 per gram due to increased demand from jewellers in domestic markets along with positive market cues. As the demand for this yellow metal increased, the rate of gold increased by Rs.5 to trade at Rs.2,935 per gram on the 5th of April.
- However, this demand could not be sustained and gold rate reduced to trade at Rs.2,925 per gram on the 6th and 7th of April.
- As the week continued, the rate of gold continued to decrease with this precious metal being priced at Rs.2,915 per gram on the 8th and 9th of April in Panaji.
April ‘17 - Week 2 (10th to 16th)
- As a result of variations in the demand for this yellow metal, there were quite a few fluctuations noted in the price of gold during the 2nd week of April.
- Gold was priced at a monthly low of Rs.2,905 per gram on the 10th of April thanks to a greater dollar value. As a consequence of a number of geopolitical issues, the rate of gold increased as the safe-haven demand for this metal increased.
- The price of gold in Panaji was Rs.2,960 per gram on the 12th of the month and rose the following day by Rs.5 to trade at Rs.2,965 per gram.
- As the second week of April progressed, the price of gold continued to rise with this metal being priced at Rs.2,990 per gram on the 15th and 16th of April. This was also the highest at which gold was priced at for the month.
April ’17- Week 3 (17th to 23rd)
- Compared to the rates seen during the previous week, gold traded at Rs.2,983 per gram on the the first day of the week 3.
- As the week progressed, variations were seen in the price of gold.
- The price of this yellow metal fell again on the 18th before increasing on the 19th to trade at Rs.2,985 per gram.
- Due to a rise in the value of the rupee on the 20th, potential gold buyers were presented with a good opportunity to buy this metal.
- The rate of gold on the 22nd and 23rd of April was a repeat of that seen on the 15th and 16th of April due to high demand for this metal.
April ’17- Weeks 4 (24th to 30th)
- On the 24th of April in Panaji, gold traded at Rs.2,965 per gram and then fell by Rs.15 the next day to trade at Rs.2,950 per gram. However, as the demand for this metal decreased, the rate of gold fell as well.
- Gold rate fell to Rs.2,920 per gram on the 26th of April prior to marginally increasing to Rs.2,925 per gram on the 27th of April.
- Gold was priced at Rs.2,930 per gram on the 27th as the centrist candidate, Emmanuel Macron, won the first round of the French Presidential election.
- On the last two days of April in Panaji, gold traded at Rs.2,945 per gram, recording an incline of 1.20% in the rate.
|March 1st Rate||Rs.3,005 per gram|
|March 31st Rate||Rs.2,900 per gram|
|Highest Rate in March||Rs.3,005 per gram on 1st of March|
|Lowest Rate in March||Rs.2,885 per gram on 15th of March|
March 2017 - Week 1 (1st - 5th):
- When gold trading began in Panaji for March, the metal was selling at Rs.3,005, which also happened to be the highest rate for the entire month.
- On 2nd, prices took a hit as demand went down to bring prices down to Rs.2,990 per gram - a decrease of Rs.15 from the previous day’s trading price.
- As demand went down again, gold prices decreased by Rs.25 to hit Rs.2,965 per gram on 3rd but went up to Rs.2,970 per gram on 4th.
- When the week ended gold was still priced at Rs.2,970 per gram.
March 2017 - Week 2 (6th - 12th):
- By the time trading began for the second week, gold prices had went down to Rs.2,962 per gram but sold at the same price on the 7th as well.
- On 8th, prices went down again as global events brought demand down, to go down to Rs.2,930 per gram.
- Rates didn’t see any hopes of rising as it again went down by Rs.20 to hit Rs.2910 per gram on 9th.
- The next three days till the end of the week, gold prices remained stable at Rs.2,900 per gram as demand sustained.
March 2017 - Week 3 (13th-19th):
- On 13th, when trading began for week 3, gold prices remained the same as it was - at Rs.2,900 per gram - on 12th.
- Prices went down as US dollar seemed to strengthen to bring gold trading prices down to Rs.2,880 per gram.
- Rates hit their worst when gold prices went down to as low as Rs.2,855 per gram - the lowest rate for the month of March.
- At a slump, rates picked up on 16th for the metal to trade at Rs.2,885 per gram and then at Rs.2,890 per gram on 17th.
- Rates didn’t change for the next few days till the end of the week as bullion was still selling at Rs.2,890 per gram.
March 2017 - Week 4 (20th - 26th):
- When gold trading began on 20th, gold prices had gained by Rs.10 from the previous week’s prices to sell at Rs.2,900 per gram.
- On 21st, prices went down again as demand took a hit to Rs.2,885 per gram but increased suddenly on 22nd to trade at Rs.2,920 per gram.
- From 23rd till 26th, gold prices didn’t change as demand stabilised, and bullion was still trading at Rs.2,920 per gram.
March 2017 - Week 5 (27th - 31st):
- Gold was still trading at Rs.2,920 per gram when trading for week 5 began on 27th.
- The next two days saw gold prices hold at Rs.2,925 per gram as demand went up slightly as more people began investing in it.
- On 30th, bullion rates took a hit as traders were wary against the resurgence of the dollar, which brought prices down to Rs.2,915 per gram.
- The last day of March 2017 saw gold trading at Rs.2,900 per gram - a decrease of Rs.15 from the previous day.
- Panaji saw one of the steepest decline with regards to gold prices, which stood at 3.67% for the month of March.
Trend of Gold Rate in Panaji for February 2017 (rates per gram for 24karat gold)
|February 1st Rate||Rs.2,945 per gram|
|February 28th Rate||Rs.3,005 per gram|
|Highest Rate in February||Rs.3,005 per gram from 27th and 28th February|
|Lowest Rate in February||Rs.2,945 per gram on 1st February|
February 2017 - Week 1 (1st - 4th):
- When February began, gold was trading at Rs.2,945 per gram in Panaji.
- Surprisingly, gold rate in Panaji on 1st was the lowest for the entire month - making February a positive month for gold sales.
- Gold rates didn’t witness much of a change for the next few days of the week as there was no catalytic features meddling with the bullion market.
- Week 1 of February ended in Panaji as gold was trading at Rs.2,945 per gram.
February 2017 - Week 2 (5th - 11th):
- Gold rates in Panaji on 5th remained the same as it was on 4th and was trading at Rs.2,945 per gram.
- The 6th, however, saw gold prices increase to Rs.2,955 per gram - an increase of Rs.10 - as domestic demand increased.
- On 7th, gold prices saw a significant surge to hit Rs.2,980 per gram - a Rs.25 increase - and remained unchanged on 8th.
- The 9th saw demand increase bringing a Rs.5 in gold prices to Rs.2,985 per gram.
- On 10th, gold prices fell by a massive margin of Rs.45, courtesy of a strengthening dollar, to reach Rs.2,940 per gram.
- The end of the week was relatively better as gold rates picked up to close week 2 at Rs.2,970 per gram.
February 2017 - Week 3 (12th - 18th):
- The third week of February saw gold prices in Panaji fluctuate slightly as global markets ran helter-skelter.
- When trading began on 12th, gold was trading at Rs.2,970 per gram but went down to Rs.2,960 per gram on 13th.
- The 14th and 15th also saw a dip in gold prices as they went down first to Rs.2,955 per gram and then to Rs.2,948 per gram.
- Prices picked up over the next three day period as they first went up to Rs.2,970 per gram on 16th - an increase of Rs.22.
- The 17th again saw prices increase - this time by Rs.10 - for the metal to trade at Rs.2,980 per gram.
- Week 3 ended in Panaji with gold still trading at Rs.2,980 per gram.
February 2017 - Week 4 & 5 (19th - 28th):
- Gold rates in Panaji went up and down over the last two weeks of February as several policy decision in the US affected the dollar rates and, in turn, bullion prices.
- On 19th, gold was still trading at Rs.2,980 per gram, but went down to Rs.2,970 per gram on 20th.
- After a brief slump, gold was back to performing better with rates reaching Rs.2,995 per gram on 25th.
- Rates were unchanged on the 26th and 27th as no fluctuation in demand was seen.
- The last two days of February saw gold prices rise again to go up to Rs.3,005 per gram.
- Overall, gold price trends saw a change of 2.03% in Panaji over the month of February.
|January 1st Rate||Rs.2,820 per gram|
|January 31st Rate||Rs.2,930 per gram|
|Highest Rate in January||Rs.2,970 per gram on 23rd & 24th January|
|Lowest Rate in January||Rs.2,820 per gram from 1st & 2nd January|
January ‘17 - Week 1 (1st to 7th)
- Gold prices in Panaji increased in the first week of January due to increased demand from the retail as well as the industrial sector.
- Gold was priced at Rs.2,820 per gram on 1st January and rose to Rs.2,840 per gram on 4th January as domestic demand from jewellers increased due to the wedding season.
- Prices continued to rise during the week as industrial orders from Asia increased, bolstered by a relatively weak U.S. Dollar.
- Gold traded at Rs.2,870 per gram on 7th January, registering a weekly increase in price of Rs.50 per gram on strong demand.
January ‘17 - Week 2 (8th to 14th)
- Prices rose for the second consecutive week on consistent demand from the retail and industrial sectors, with gold trading at Rs.2,870 per gram on 8th January.
- Prices rose to Rs.2,910 per gram on 11th January as markets began to dip as investors were unsure of the impact new economic policies under Donald Trump would have on the markets.
- Demand was high in Asia before the Lunar New Year, as industry and the retail sector’s appetite for gold rose significantly.
- Gold traded at Rs.2,920 per gram on 12th January, with the price remaining constant till the week ended on 14th January.
January 2017- Week 3 (15th to 21st)
- The third week of January saw a few fluctuations in the price of gold due to stock performance.
- Gold was priced at Rs.2,920 per gram on 15th January, with the price rising to Rs.2,945 per gram on 16th January on higher domestic demand in Panaji due to the wedding season.
- Industrial demand was also high as firms capitalised on a low U.S. Dollar, which made imports cheaper.
- Gold traded at Rs.2,965 per gram on 18th January before falling to Rs.2,952 per gram on 20th January due to a dip in demand.
- Gold prices rose as the week ended, trading at Rs.2,960 per gram on 21st January.
January 2017- Weeks 4 & 5 (22nd to 31st)
- The last two weeks of January saw fluctuations in the price of gold due to a reduction in demand and a strengthening of markets, which lowered demand.
- Gold was priced at Rs.2,960 per gram on 22nd January, with the price rising to Rs.2,970 per gram on 23rd January on steady demand from the Asian markets.
- Gold prices fell to Rs,2,950 per gram on 25th January as demand from Asian markets slowed and the U.S. Dollar rallied, which reduced demand for gold.
- Prices fell to Rs,2,915 per gram on 27th January as domestic demand for gold also fell, echoing international trends.
- Prices made a slight recovery as the week ended, with gold trading at Rs.2,930 per gram on 31st January, recording a fall of Rs.30 per gram in the weekly price.
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.
- Also Check:Gold Rate in Goa
- Also Check:Gold Price Trend In Panaji
Also Check Gold Price in NearBy Cities of Panaji
|Gold Rate in Pune||Gold Rate in Kolhapur||Gold Rate in Mysore|
|Gold Rate in Mumbai||Gold Rate in Mangalore||Gold Rate in Bangalore|
Read more on Gold
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News About Gold Rate in Panaji
Gold Hits a Three-Week High On Diminishing U.S. Rate Hike Expectations
Gold hit a three week high after an increase of 1.5% overnight, on Thursday. This increase was helped by fading prospects of an interest rate hike by U.S. Fed along with a weak dollar. Other contributing factors include cautious comments by Janet Yellen, the Fed Chair and non-farm payroll data.Spot gold was quite low at $1,262.28 per ounce whereas U.S. gold increased by 0.2% to hit $1265.20.
Although there are chances of gold rate increasing, there may be roadblocks on the way according to James Steel, an HSBC analyst. Gold has risen by 19% until now this year and has allowed companies like Barrick Gold to work on expansion and increase their production in new ways for the very first time in a period of five years.
67.75 tonnes of gold was produced by Russia in the period between January to April which is an increase as compared to the same period the previous year. Dollar index reduced by another 0.1%. Spot palladium and spot platinum were quite flat $559.8 per ounce and $1005.35 per ounce respectively.
9th June 2016
Gold Finally Rises Owing to an Easing Dollar and Weak Asian Stocks
Gold rates are on the rise, climbing on account of weaker Asian stocks. The dollar is also easing up allowing gold rates to be released from its declining trend. This rise marks the first one in ten sessions. Spot gold steadily rose to $1,217.08 per ounce increasing by 0.2%. U.S. gold climbed to $1,219.8, a 0.2% increase. Bullion increased as well, rising by 0.8%, the biggest one-day gain seen since 13th May 2016.
A slip in the crude oil rates resulting in the Asian stocks sagging. This dampened the appeal for investors. The Asian market was also dull due to the dollar stalling against the yen and euro. The U.S. economic data has also been like a bag of mixed emotions. The U.S. consumer spending also recorded its highest increase since six years ago. This suggests an incline in economic growth. The U.S. economy is on the path to grow by 2.9% (annualised) in the second quarter of this year. These factors might soon persuade the U.S. Federal Reserve to increase the interest rates in the near future.
2nd June 2016
On Bourse Listing, Gold Bonds Predicted to Trade at Premium
Usually enamoured by the physical metal, gold bonds look set to catch the eye of Indian investors soon, as gold bonds are expected to trade at a premium.
According to statements released by the Finance Ministry, the first set of gold bonds to be listed n bourses will be by May end. The government has, issued 3 tranches across a 7 months span and has made close to Rs. 1, 300 crore from them.
The rising gold price along with the easy exit will create interest among investors. Predictions that the bonds will list at premium are founded on the argument that gold itself has risen 20% in the past 4 months and thus the new tranche will probably be valued at Rs. 3000- Rs. 3, 500 for a gram.
The precious metal’s spot price has risen by 15.1% since November 2015, with the spot MCX being Rs. 29, 850 for 10 grams on 18th May, ’15.
The first tranche issued had a price of Rs. 2, 682 for a gram, higher than the price of bullion, which led to demand being rather weak.
The second tranche saw Rs. 726 crore subscription, an increase of Rs. 500 crore as the bond price was Rs. 2, 600 per gram. The third tranche, issued at Rs, 2, 916 per gram only garnered Rs. 329 crore as it was issued in March, when tax planning generally reduces appetite for investments.
The stamp duty payable for secondary market sales might also be a dampener when it comes to interest in gold bonds, as well as rules that stipulate that they can only be held in dematerialised form.
19th May 2016
Gold Prices Recover as the Value of the Dollar Declines
Gold prices recovered from a two-week low and the value of the dollar fell slightly as international shares declined, thus rekindling the appetite of investors for gold. The value of spot gold increased by 0.8% to $1277.56 per ounce while US gold for delivery in June increased 1% to $1278.10 per ounce. The value of the dollar fell by 0.5% against a number of other major currencies, making dollar-priced assets like gold less expensive for people who transact in other currencies and opening up the market again after a slow few days.
12th May 2016
Gold Falls Close to Two Week Low on Unyielding Dollar and Equities
Gold fell to an almost 2 week low post its sharpest drop since March in the initial session as higher equities and a firm dollar reduced appetite for the metal.
In five out of the previous six sessions, bullion has reduced and has not benefited from the last weeks’ data which shows that the economy in US added the lowest number of jobs in 7 months in the month of April.
Spot gold was reduced to $1258.1 at 0.4% an ounce after hitting a low of $1257.15 which is the weakest since 28 April. Bullion was reduced by 1.9% which is its sharpest drop in one day since 23 March.
For June delivery, US gold was reduced by 0.5% at $1261.1 for an ounce. Spot prices have increased by 18% this year and higher rates would boost the dollar while increasing the opportunity cost of holding gold.
The dollar index saw an increase of 0.2% which i the highest in almost two weeks in the Asian Trading Session.
Gold, which reached a high of $1303.6 the previous week will not find it easy to cross the $1300 barrier and the physical demand for it is currently poor, according to Tom Kendall, an ICBC Standard Bank analyst.
The demand for gold in China is not certain and Indian consumption is sluggish said HSBC when asked about the appetite for gold amongst the top two consumers of gold in the world.
During the annual festival of Akshaya Tritiya, Indians purchased a third less amount of gold as compared to last year due to drought affecting millions of farmers within the country.
Silver increased by 0.2% to $17.04 for an ounce and platinum increased by 0.7% at $1043.58 an ounce. Palladium reduced by 0.2% to 4584.70.
11th May 2016
Gold futures Trade Lower by Rs. 136 amidst Weak Global Cues
Amidst profit booking by speculators and a weak global trend, gold futures dipped by Rs. 136 and sold at Rs. 30, 318 per 10 gram on May 4, 2016. Gold for delivery in August was selling lower by 0.45 per cent or Rs. 136 and was set at Rs. 30, 097 per 10 gram. Analysts attribute the decrease in gold futures to weak overseas trend where the gold prices fell for the third consecutive day as dollar swayed on prospects of interest rate increase. In Singapore, gold prices fell by 0.5 per cent to touch $ 1, 279.75 an ounce. Gold prices reached $ 1, 303. 82 on May 4th, 2016, the highest intra - day price since January 2015.
4th May 2016
Experts predict that gold will trade higher
Gold closed trading on MCX at Rs.30,464 / 10 grams on Friday, a rise of 4.2%. An unexpectedly weaker growth in the US economy was reported, which led to a weakened dollar, and an opportunity for spot gold to jump and close at $1,293.40 / ounce.
Experts now suggest that gold could trade even higher because of the positive looking reports of manufacturing out of China. The entire Asian market could stand to see a higher gold rate.
2nd May 2016
Gold Prices Set To Fall Again
Gold prices, after 3 consecutive days of loss, stabilised a little on Friday. However, experts believe the prices will decline again as US dollar is gaining and the stock market picking up pace, therefore reducing the need for a safe haven.
Bullion prices reached a 3-week high on Tuesday but started falling after the global equity market made gains on the back of strong Chinese economic data and oil price hikes.
Spot gold was stable at $1,228.50 per ounce by 03:08 GMT on Friday, after a decline of 1.3 percent in the previous session. The prices are lower by 1 percent compared to the previous week.
15th April 2016
Rate Outlook Aids in Increasing Gold Prices
Gold prices increased to their highest over the past three weeks, thereby ensuring that the market is on course for the $1300 per ounce. Scepticism over the US monetary policy and weak economic information played a crucial role in contributing to risk aversion, increasing investor appetite for bullion and other safe-haven assets such as the Japanese Yen among others. The value of spot gold was reported at $1258.70 per ounce, making it the highest value at which gold was traded since the 22nd of March, before dropping marginally to $1255.93.
12th April 2016
Jewellers Strike Causes Losses To Rise to Rs. 40,000 crore
As a result of the strike by jewellers, the economy has suffered a reported loss of about Rs. 40,000 crores. The strike has now been going on for 40 days and has been called in opposition to the implementation of an excise on gold as a luxury commodity. The excise duty has also been implemented in an effort to stem the flow of black money. Not only has the strike led to a loss in the industry, it has also caused about 200,000 people their jobs since the artisans that work in this industry and are actually daily wage workers. The government had assured the jewellers that a committee would be set up to look into the implications of the excise however no results of such claims have been forthcoming so far. Even the Confederation of All India Traders has lent its support to the strike.
11th April 2016
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