• Gold Rate In Panaji

    Daily Gold Rates
    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    22 May 2018 ₹ 2,900 ₹ 23,200 ₹ 3,045 ₹ 24,360
    21 May 2018 ₹ 2,905 ₹ 23,240 ₹ 3,050 ₹ 24,400
    20 May 2018 ₹ 2,905 ₹ 23,240 ₹ 3,050 ₹ 24,400
    18 May 2018 ₹ 2,910 ₹ 23,280 ₹ 3,056 ₹ 24,448
    17 May 2018 ₹ 2,914 ₹ 23,312 ₹ 3,060 ₹ 24,480
    16 May 2018 ₹ 2,940 ₹ 23,520 ₹ 3,087 ₹ 24,696
    15 May 2018 ₹ 2,945 ₹ 23,560 ₹ 3,092 ₹ 24,736
    14 May 2018 ₹ 2,955 ₹ 23,640 ₹ 3,103 ₹ 24,824
    11 May 2018 ₹ 2,935 ₹ 23,480 ₹ 3,082 ₹ 24,656
    10 May 2018 ₹ 2,930 ₹ 23,440 ₹ 3,077 ₹ 24,616

    *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 April 2018 (rates per gram for 24 karat gold)

    Parameters Gold price (24 karat)
    Gold Rate on 1st April 2018 Rs.3,019 per gram
    Gold Rate on 30th April 2018 Rs.3,077 per gram
    Highest Rate in April Rs.3,098 per gram on 19 and 20 April
    Lowest Rate in April Rs.3,005 per gram on 7 April
    Overall Monthly Performance Incline
    Percentage Change 1.92%

    Trend of Gold Rate in Panaji for March 2018 (rates per gram for 24 karat gold)

    Parameters Gold price (24 karat)
    Gold Rate on 1st March Rs.3,014 per gram
    Gold Rate on 31st March Rs.3,019 per gram
    Highest Rate in March Rs.3,045 per gram on 25, 26, 28 and 29 March
    Lowest Rate in March Rs.2,977 per gram on 19 March
    Overall Monthly Performance Incline
    Percentage Change 0.16%

    March 2018 - Week 1 (1st - 4th):

    • Gold opened at Rs.3,014 per gram on the 1st of March - a relative strong note - before declining to Rs.2,987 per gram on the 2nd.
    • The steep Rs.27 drop was largely due to poor local demand even though global cues remained considerably steady.
    • However, gold rates went up to Rs.3,007 per gram on the 3rd, thanks to a strong local demand.
    • On the 4th, prices dipped slightly to end the week at Rs.3,003 per gram.

    March 2018 - Week 2 (5th - 11th):

    • The second week began with gold rates still continuing at Rs.3,003 per gram before rising to Rs.3,008 per gram on the 6th.
    • A slowdown in demand brought prices down to Rs.2,998 per gram, which then surged to Rs.3,019 per gram on the 8th of March.
    • As demand was highly topsy-turvy, rates fell again to Rs.2,993 per gram on the 9th before moving up slightly to Rs.2,998 per gram on the 10th.
    • When the week ended, gold prices were holding at Rs.2,998 per gram.

    March 2018 - Week 3 (12th - 18th):

    • Gold prices had dropped further over the weekend due to pure cues and the metal traded at Rs.2,987 per gram.
    • The metal continued to trade at Rs.2,987 per gram the next day before rising to Rs.3,003 per gram on the 15th of the month.
    • This dropped again on the 16th and the metal’s rates fell to Rs.2,982 per gram - a Rs.21 decline from the previous day.
    • Demand remained muted during the next two days and gold continued to trade at Rs.2,982 per gram on the 17th and 18th respectively.

    March 2018 - Week 4 (19th - 25th):

    • When the fourth week of March started, the yellow metal’s rates had dropped to Rs.2,977 per gram as the US dollar remained strong while international demand was weak.
    • Thanks to a shaky equity market, gold bounced back against the dollar’s stronghold to trade at Rs.2,993 per gram on 20th March.
    • The 21st saw prices remain the same before dropping to Rs.3,014 per gram as demand went up.
    • Talks of the Federal Reserve taking a sterner approach to curb the inflation rose causing markets to plummet and gold prices to rise. Gold prices went up to Rs.3,035 per gram on the 23rd, which continued on till the 24th as well.
    • The final day of this week saw gold prices rise to Rs.3,045 per gram as markets were still struggling to recover.

    March 2018 - Week 5 (26th - 31st):

    • Gold prices in Panaji fluctuated considerably, with a sharp decline recorded on one of the days of this week.
    • On the 26th, gold was still continuing at Rs.3,045 per gram, which then dropped to Rs.3,040 per gram the next day.
    • The 28th saw gold rates come back up to Rs.3,045 per gram and trade at this rate till the closing hours of the 29th.
    • As domestic demand declined amidst a rising dollar, gold rates went down to Rs.3,014 per gram on the penultimate day of the month.
    • The final day of March saw a slight increase in prices and gold traded at Rs.3,019 per gram.
    • Gold price trends saw a marginal 0.16% incline this month and March turned out to be a rather topsy-turvy period for bullion investors.

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    Trend of Gold Rate in Panaji for February 2018 (rates per gram for 24 karat gold)

    Parameters Gold price (24 karat)
    Gold Rate on 1st February 2018 Rs.2,998 per gram
    Gold Rate on 28th February 2018 Rs.3,014 per gram
    Highest Rate in February Rs.3,031 per gram on 19 February
    Lowest Rate in February Rs.2,951 per gram on 8 February
    Overall Monthly Performance Incline
    Percentage Change 0.53%

    February 2018 - Week 1 (1 - 4):

    • The month began in Panaji with the white metal trading at Rs.42,600 per kg on the 1st after the US dollar weakened ahead of the US employment data. This was also the lowest monthly figure recorded in the city.
    • Silver rate in Panaji remained unaltered at Rs.42,600 per kg on the 2nd owing to strong domestic demand amid the positive global cues.
    • However, the US dollar index rose against other emerging currencies after the US payrolls data proved to be stronger than expected. This led to silver prices in Panaji plunging to Rs.41,700 per kg on the 3rd.
    • Thanks to the subdued but steady demand from industries and coin manufacturers, the rest of the week saw the industrial metal prices holding steady at Rs.41,700 per kg on the 4th.

    February 2018 - Week 2 (5 - 11):

    • When trading commenced for the second week,  silver was priced relatively lower at Rs.41,500 per kg on the 5th after demand for the metal declined amid weak global cues.
    • Though rates rose to Rs.41,900 per kg the next day, silver prices in Panaji plunged to Rs.41,400 per kg on the 7th with the US dollar index rising against other apex currencies in the international market.
    • Poor trends overseas compounded by weak demand resulted in silver rates dropping further to Rs.40,800 per kg on the 8th.
    • The 9th saw the white metal rates rebounding to Rs.41,000 per kg following an unexpected incline in domestic demand despite the poor trend overseas.
    • However, with the dollar and equities market performing well in the international trade, silver rates in Panaji plummeted to Rs.40,600 per kg on the 10th. This was also the lowest recorded monthly figure in the city.
    • The week concluded with the industrial metal trading at Rs.40,600 per kg on the 11th with poor demand amid the weak trends overseas.

    February 2018 - Week 3 (12 - 18):

    • Poor dollar performances coupled with weakly performing equities resulted in silver prices rising considerably during the course of the week.
    • The week began with silver priced relatively higher at Rs.40,900 per kg on the 12th with the US dollar losing ground ahead of the US inflation data.
    • The next couple of days saw silver rates rising after markets awaited the inflation data for clues on the pace of Fed rate hikes during the year. The white metal was recorded trading at Rs.41,300 per kg on the 13th before rising to Rs.41,400 per kg on the 14th amid the positive trends overseas.
    • Prices surged to Rs.41,800 per kg on the 15th before plunging to Rs.41,700 per kg on the 16th with the US dollar strengthening following the US inflation data.
    • With investors and traders gravitating on safe-haven assets to hedge against inflation concerns, demand for the metal surged. This led silver prices in Panaji holding steady at Rs.41,700 per kg for the remainder of the week.

    February 2018 - Week 4 (19 - 25):

    • The fourth week commenced with the industrial metal priced at Rs.41,600 per kg on the 19th.
    • However, silver rates in Panaji plunged to Rs.41,200 per kg the next day after the US dollar strengthened against other emerging currencies.
    • Though rates remained untouched at Rs.41,200 per kg on the 21st amid the poor trends overseas, silver prices rebounded to Rs.41,400 per kg the next day with an increase in demand from local industries and coin manufacturers.
    • Prices surged further to Rs.41,600 per kg on the 23rd with the US dollar index and equities market losing in the international market.
    • The 24th saw rates declining slightly to Rs.41,500 per kg after domestic demand stabilised amid the firm trends overseas.
    • Thanks to steady demand from industries and coin makers, the rest of the week saw silver trading firm at Rs.41,500 per kg amid the positive trend overseas.

    February 2018 - Week 5 (26 - 28):

    • When trading commenced for the last week, silver prices in Panaji were recorded holding at Rs.41,600 per kg on the 26th.
    • Silver rates surging to Rs.41,700 per kg on the 27th as markets were shaky.
    • The month came to an end with the industrial metal trading at Rs.41,200 per kg on the 28th with silver trade in Panaji registered a loss of 3.28% during the course of the month.

    Trend of Gold Rate in Panaji for January 2018 (rates per gram for 24 karat gold)

    Parameters Gold price (24 karat)
    Gold Rate on 1st January 2018 Rs.2,953 per gram
    Gold Rate on 31st January 2018 Rs.2,998 per gram
    Highest Rate in January Rs.2,953 per gram on 1, 2 and 3 January
    Lowest Rate in January Rs.3,032 per gram on 25 January
    Overall Monthly Performance Incline
    Percentage Change 1.93%

    January 2018 - Week 1 (1 to 7):

    • Trading began in Panaji with the precious metal priced at Rs.2,953 per gram on the 1st of January.
    • Gold prices remained unaltered at Rs.2,953 per gram until the 3rd with steady demand from local jewellers, retailers and industries amid firm trends overseas.
    • However, the 4th saw gold rate in Panaji plunging to Rs.2,947 per gram tracking the strengthening US dollar and equities in the world market.
    • Prices remained untouched at Rs.2,947 per gram on the 5th before surging to Rs.2,966 per gram on the 6th after the US dollar index lost against a basket of other apex currencies.
    • With the US jobs data failing to reach market expectations, the US dollar remained on the weaker side for the rest of the week.
    • The precious metal prices were recorded holding at Rs.2,963 per gram on the 7th when the week concluded amid firm overseas trends.

    January 2018 - Week 4 (8 to 14):

    • The second week commenced with gold prices in Panaji holding at Rs.2,963 per gram on the 8th with steady domestic demand from local retailers and jewellers.
    • Gold price in Panaji rose to Rs.2,969 per gram on the 9th after the US dollar weakened amid losing equities.
    • The 10th, however, saw gold rates plunging to Rs.2,958 per gram after the greenback regained lost ground with investors mulled over ahead of the inflation data.
    • Rates remained untouched at Rs.2,958 per gram on the 11th before surging to Rs.2,976 per gram the next day following an incline in demand brought about by a firm trend overseas.
    • With markets concerned over a possible US government shutdown, demand for safe-haven assets surged. Gold rates in Panaji were recorded trading at Rs.3,061 per gram on the 12th while touching near seven-week highs in the international market.
    • The 13th saw gold rate in Panaji surging to Rs.3,000 per gram with investors and traders hedging on the bullion amid the weak trend overseas.
    • Strong and steady demand coupled with positive global cues resulted in the bullion being price at Rs.3,000 per gram for the rest of the week.

    January 2018 - Week 3 (15 to 21):

    • Trading opened in Panaji with the yellow metal prices holding steady at Rs.3,000 per gram on the 15th amid firm overseas trends.
    • Thanks to steady demand from local industries, retailers and jewellers, gold prices were recorded holding at Rs.3,000 per gram on the 16th.
    • The 17th saw gold rate in Panaji surging to Rs.3,024 per gram with the dollar index losing against  basket of currencies amid the poorly performing equities.
    • With the dollar performing on par with the equities, gold rates dropped to Rs.3,004 per gram on the 18th.
    • Gold was recorded trading at Rs.3,007 per gram on the 19th before rising to Rs.3,019 per gram on the 20th amid firm trends overseas.
    • The week concluded with the precious metal prices holding steady at Rs.3,019 per gram on the 21st with the dollar remaining flat amid concerns over a possible government shutdown in the country.

    January 2017 - Week 4 (22 to 28):

    • The week opened in Panaji with the billion priced at Rs.3,019 per gram on the 22nd amid strong trends overseas.
    • A weakened US dollar coupled with poorly performing equities led to gold prices rising to Rs.3,024 per gram on the 23rd.
    • Gold rates remained untouched at Rs.3,024 per gram on the 24th before surging to Rs.3,032 per gram - the highest recorded monthly figure on the 25th amid positive global cues.
    • However, with the US greenback recovering from its previous rally of losses, demand for the metal declined as the week progressed.
    • The week came to an end with the yellow metal prices holding at Rs.2,998 per gram on the 28th after the strengthened US dollar and equities resulted in a decline in demand for the precious metal.

    January 2018 - Week 5 (29 to 31):

    • The last week commenced with gold prices holding at Rs.2,998 per gram on the 29th with weak demand from local industries, jewellers and retailers.
    • Reduced domestic demand coupled with poor global cues led to gold rates remaining untouched at Rs.2,998 per gram on the 30th.
    • The month came to an end with the bullion priced at Rs.2,998 per gram on the 31st ahead of the two-day monetary policy meeting by the Federal Reserve.
    • Gold prices in Panaji rose by 1.52% with strong trends overseas pushing demand higher for the metal during the course of the month.

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

    Parameters Gold price (24 karat)
    Gold Rate on 1st December 2017 Rs.2,932 per gram
    Gold Rate on 31st December 2017 Rs.2,941 per gram
    Highest Rate in December Rs.2,942 per gram from 2 to 4 December and 29 December
    Lowest Rate in December Rs.2,859 per gram on 13 December
    Overall Monthly Performance Incline
    Percentage Change 0.30%

    December 2017 - Week 1 (1st to 10th)

    • When trading commenced in Panaji, the precious metal was priced at Rs.2,932 per gram on the 1st.
    • Gold rates were greatly influenced by the approval of the landmark tax reform plan in the US which pushed the US dollar higher during the week.
    • On the 2nd, gold price in Panaji rose to Rs.2,942 per gram as the US dollar lost against a basket of major currencies after the Republican tax bill hit a roadblock in the US Senate.
    • The US tax bill, however, was cleared following a voting session in the Senate. This led to the dollar strengthening and rates dropping to Rs.2,906 per gram on the 5th of December.
    • With the dollar gaining significantly amid the firm equities during the week, gold price in Panaji dropped further to Rs.2,896 per gram on the 8th.
    • The week concluded with the yellow metal holding firm at Rs.2,896 per gram on the 10th owing to a subdued but steady demand for the metal from local jewellers, industries and retailers.

    December 2017 - Week 2 (11th to 17th)

    • The second week opened with the bullion trading at Rs.2,866 per gram on the 11th with a marginal decline in global demand for the metal.
    • With the release of the new interest rates by the Federal Reserve, world markets began to decline. This lead to the US dollar declining and equities market collapsing worldwide during the week.
    • Gold was priced at Rs.2,883 per gram on the 14th amid the positive trend overseas.
    • The dollar, however, began to recover halfway into the week and the precious metal prices plunged to Rs.2,864 per gram on the 15th.
    • Poor domestic demand coupled with weak global cues led to gold rates remaining unchanged at Rs.2,861 per gram for the remainder of the week.

    December 2017 - Week 3 (18th to 24th)

    • Gold was trading at Rs.2,861 per gram on the 18th when the week began.
    • Gold price in Panaji rose to Rs.2,879 per gram the next day before plunging to Rs.2,876 per gram on the 20th amid the strengthened US dollar and firmer equities market.
    • The dollar, however, lost its ground as investors began to speculate over the final outcome of the new tax reform on the US economic growth. This led to rates rising to Rs.2,883 per gram on the 21st.
    • But the dollar regained its lost sheen the following day with the tax reform bill being passed. This led to gold being priced at Rs.2,879 per gram on the 22nd.
    • As a result of the new tax cuts, stocks in the Asian markets began to collapse and the yellow metal prices rebounded to Rs.2,898 per gram on the 23rd.
    • The week ended with gold holding steady at Rs.2,898 per gram on the 24th owing to the steady demand from industries and local jewellers amid the positive trends overseas.

    December 2017 - Week 4 (25th to 31st)

    • The week began in Panaji with gold priced at Rs.2,898 per gram.
    • Gold price in Panaji went up to Rs.2,903 per gram on the 26th of the month, with local trends remaining in touch with international demand.
    • Gold rate in Panaji went up to Rs.2,917 per gram on the 27th as a declined US dollar, spurred investors to invest in the metal a little more.
    • The 28th again saw gold rates rise to Rs.2,937 per gram as the metal hit one-month high figures in the global market.
    • During the 29th, the yellow metal traded at Rs.2,942 per gram - a comparatively marginal increase brought about by positive global cues.
    • However, a poor local demand pushed gold rates down to Rs.2,941 per gram on the 30th of the month. When the week came to an end, the yellow metal was still priced at Rs.2,941 per gram.
    • Panaji recorded an incline of 0.30% in gold rates owing to the positive trends overseas the pushed demand higher for the metal during the course of the month.

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

    Parameters Gold price (24 karat)
    Gold rate on 1st November 2017 Rs.2,942 per gram
    Gold rate on 30th November 2017 Rs.2,947 per gram
    Highest Rate in November Rs.2,981 per gram on 20 November
    Lowest Rate in November Rs.2,907 per gram on 6 November
    Overall Monthly Performance Incline
    Percentage Change 0.16%

    November 2017 - Week 1 (1st - 5th)

    • Gold rate in Panaji started off on a relatively improved note but fell as the week progressed.
    • On the 1st of November, the yellow metal was trading at Rs.2,942 per gram.
    • Due to a steady demand from local circles, gold continued selling at Rs.2,942 per gram on the 2nd and the 3rd of November.
    • Keeping in trend with global cues, gold rate in Panaji fell to Rs.2,917 per gram on the 4th of November. This happened because of a relatively strong dollar and also the cautious nature of investors.
    • When the week came to an end, gold price in Panaji were recorded at Rs.2,917 per gram.

    November 2017 - Week 2 (6th - 12th)

    • When trading commenced for the week, the yellow metal was trading low at Rs.2,907 per gram on the 6th.
    • However, prices picked up with geopolitical tensions rising between Saudi Arabia and Iran pushing demand higher for safe-haven assets like gold. This led to rates surging to Rs.2,942 per gram on the 7th.
    • An increased domestic demand coupled with strong overseas trends resulted in prices rising to Rs.2,951 per gram on the 8th.
    • Gold rate in Panaji remained unchanged at Rs.2,951 per gram on the 9th owing to downfall of the US dollar amid uncertainties in the US tax plan.
    • Gold prices, however, recovered with dollar losing against major emerging currencies, and the yellow metal was priced at Rs.2,961 per gram on the 10th.

    November 2017 - Week 3 (1th3 - 19th)

    • Gold rate in Panaji started off on a weak note before surging midweek and consolidating towards the end of the week.
    • On the 13th of November, gold was priced at Rs.2,940 per gram. This rose to Rs.2,945 per gram as there was an increased buying trend in the city.
    • The 15th saw gold price in Panaji surge significantly to Rs.2,966 per gram as local demand improved. This high demand wasn’t to be sustained, which was evident with the next day’s trade.
    • On the 16th, the yellow metal was seen selling at Rs.2,961 per gram.
    • Over the last three days, i.e., from the 17th to the 19th, gold prices remained at Rs.2,951 per gram, a slump despite some strong trend seen worldwide.

    November 2017 - Week 4 (20th - 26th)

    • In Panaji, gold opened for the week at Rs.2981 per gram. A weak demand brought about by wary investors saw gold rates plummet to Rs.2,953 per gram on the 21st of November.
    • Demand crashed for the second day in a row, which caused gold rates to go down to Rs.2,951 per gram on the 22nd.
    • However, positive cues from the global market contributed to a robust trading day on the 23rd. Prices increased to Rs.2,960 per gram this day.
    • With demand from key Asian markets remaining subdued, gold rate in Panaji was unchanged on the 26th and the metal traded at Rs.2,958 per gram.
    • Gold price in Panaji dropped down to Rs.2,958 per gram on the 18th due to the Fed chair speech, which turned out to be a bad thing for gold trading.
    • On the final day of November, though, gold rate in Panaji fell by Rs.13 for the metal to trade at a lowly Rs.2,947 per gram.
    Parameters Gold price (24 karat)
    Gold Rate on 1st October 2017 Rs.2,985 per gram
    Gold Rate on 31st October 2017 Rs.2,942 per gram
    Highest Rate in September 2017 Rs.2,995 per gram
    Lowest Rate in September 2017 Rs.2,932 per gram on 27 October
    Overall Monthly Performance Decline
    Percentage Change -1.90%

    October 2017 - Week 1 (1st to 8th)

    • The first week witnessed Panaji register a seven-week low in domestic gold trade amid the strong US economy compounded with high treasury yields.
    • Trading commenced at Rs.2,985 per gram on the 1st, which inched down to Rs.2,966 per gram on the 2nd as a result of the dollar gaining against a basket of other major currencies.
    • Gold price in Panaji dropped further to Rs.2,956 per gram on the 3rd with the precious metal losing its appeal amid the strong trend overseas.
    • However, prices rose to Rs.2,961 per gram on the 4th as demand for the yellow metal surged in the local trade ahead of the festive season.
    • On the 6th, gold rate in Panaji dropped again to Rs.2,942 per gram, which rebounded to Rs.2,952 per gram on the 7th owing to positive buyer sentiments after the introduction of KYC norms into the industry.
    • The week concluded with the bullion metal trading at Rs.2,952 per gram on the 8th.

    October 2017 - Week 2 (9th to 15th)

    • The week began with the precious metal priced at Rs.2,976 per gram on the 9th, which gradually rose to Rs.2,981 per gram the next day due to the increased buying from local jewellers, industries and retailers.
    • Thanks to steady festive demand from local buyers, prices remained unchanged at Rs.2,981 per gram for the next couple of days.
    • Gold rate in Panaji rose further to Rs.2,987 per gram on the 13th as the US economy lost its ground amid North Korea’s attempt to nuclear prowess.
    • Steady demand coupled with positive global trends led to the precious metal being priced at Rs.2,987 per gram on the 14th and the 15th.

    October - Week 3 (16thto 22nd)

    • The third week opened with gold trading at Rs.2,995 per gram - the highest recorded monthly figure - on the 16th. This was due to the excessive demand in the local market ahead of the auspicious occasion of Dhanteras.
    • However, the US dollar found its ground with the release of the US economic data. This proved to be unfavourable for the bullion trade and the precious metal prices dropped to Rs.2,981 per gram and Rs.2,976 per gram on the 17th and the 18th.
    • Despite the ongoing geopolitical crisis in the Korean peninsula, world markets focussed on the possibility of an interest rate hike by the Federal Reserve in December. This led to the safe-haven metal losing its appeal and the metal was trading at Rs.2,966 per gram from the 19th to the 22nd.

    October - Week 4 (23rd to 31st)

    • The last week commenced with the yellow metal trading at Rs.2,956 per gram amid a strong dollar index and firmer equities market.
    • Gold price in Panaji dropped further to Rs.2,951 per gram on the 25th but rebounded to Rs.2,956 per gram on the 26th due to a marginal increase in domestic demand from jewellers and retailers.
    • The 27th, however, witnessed the bullion trade in Panaji hit its lowest recorded monthly figure of Rs.2,932 per gram as the precious metal lost it lustre amid a poor trend overseas and the strengthening dollar.
    • Though demand picked up over the next couple of days, the dollar soon regained lost ground after President Trump brought up a new US tax reform plan before the US Senate. This led to gold being priced at Rs.2,942 per gram on the last day.
    • Panaji registered a decline of 1.90% in gold prices during the month owing to poor domestic demand amid strong overseas trends.
    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
    Percentage Change 0.97%

    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.
    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
    Percentage Change 2.71%
    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
    Percentage Change -2.57%

    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
    Percentage Change -0.44%

    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
    Overall Performance Decline
    Percentage Change -0.91%

    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
    Overall Performance Incline
    Percentage Change 1.20%

    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
    Overall Performance Declin
    Percentage Change -3.49%

    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
    Overall Performance Incline
    Percentage Change 2.03%

    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
    Overall Performance Incline
    Percentage Change +3.90%

    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 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

    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.

      9 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.

      2 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.

      19 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.

      12 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.

      11 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.

      4 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.

      2 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.

      15 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.

      12 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.

      11 April 2016

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