Gold Rate In Panaji

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 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 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 ‘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.

December '16 - Week 1 (1st to 4th)

• The price of gold was high as the month began, with gold trading at Rs.2,905 per gram on 1st December.
• The continued effect of the policy of demonetisation led to a currency shortage, which reduced consumer spending on gold during the festive season.
• International markets were high, which led to a reduction in demand for bullion, keeping prices low.
• Gold traded at Rs.2,900 per gram on 4th December, recording a very marginal drop in price.

December '16 - Week 2 (5th to 11th)

• Demand failed to increase in the second week of December, resulting in gold prices falling slightly.
• Gold traded at Rs.2,885 per gram on 5th December as industrial demand fell.
• A decrease in retail purchase of gold led to a decline in price, with gold trading at Rs.2,840 per gram on 9th December.
• In spite of international trends reflecting an increase in demand for gold, domestic demand continued to be sluggish, resulting in gold trading at Rs.2,825 per gram on 11th December.

December '16 - Week 3 (12th to 18th)

• Gold prices dipped further during the week due to weak demand and strengthening markets.
• Gold was priced at Rs.2,825 per gram on 12th December, with the price falling further to Rs.2,785 per gram on 15th December.
• A rise in U.S. Dollar rates led to a decrease in demand for gold on the international market, which resulted in a decline in price in the domestic market as well.
• Gold was priced at Rs.2,775 per gram on 18th December, registering a marginal dip in price.

December '16 – Week 4 (19th to 25th)

• Prices did not improve in the fourth week in spite of holiday buying due to Christmas and the wedding season in India as a result of the continuing currency shortage.
• Gold traded at Rs.2,780 per gram on 19th December as markets staged a recovery, which decreased demand for bullion.
• Gold prices fell to Rs.2,765 per gram on 23rd December before rising marginally to close the week at Rs.2,770 per gram on 25th December.

December '16 – Week 5 (26th to 31st)

• The last week of December saw gold prices remain more or less constant due to stable demand.
• Gold was priced at Rs.2,775 per gram on 26th December, with the metal recording marginal increases in price throughout the week.
• Domestic demand rose slightly as the currency shortage appeared to be abating, with gold trading at Rs.2,800 per gram on 28th December.
• International demand also rose as the week ended, resulting in gold reaching Rs.2,820 per gram on 31st December.

November '16 - Week 1 (1st to 6th)

• Gold prices in Panaji were high as the week began, as demand from industry and the retail sector were stable.
• Gold traded at Rs.3,060 per gram on 1st November and prices rose throughout the week.
• Weakening markets due to the upcoming U.S. elections led to investors putting their money into gold to safeguard against losses on the markets.
• Strong domestic demand on account of the festive season also contributed to keeping prices high.
• Gold traded at Rs.3,120 per gram on 6th November as the week ended with gold firmly in the black.

November '16 - Week 2 (7th to 13th)

• The second week saw prices reach their monthly high due to renewed uncertainty following the U.S. election results as well as the demonetisation policy.
• Gold was priced at Rs.3,090 per gram on 7th November as markets fell following the surprise victory of Donald Trump in the U.S. election.
• The government’s announcement on the demonetisation of large currency notes created panic, leading investors to invest heavily in gold.
• Gold reached its monthly high of Rs.3,180 per gram on 9th November due to the market crash following the demonetisation announcement.
• Demand for gold fell as the shortage of legal tender affected the economy.
• Gold traded at Rs.3,040 per gram on 13th November.

November '16 - Week 3 (14th to 20th)

• Gold prices began to slide as demand dropped due to a shortage of funds as a result of demonetisation.
• The government also enacted more stringent laws to monitor gold purchases, further putting people off investing in the metal.
• Gold was priced at Rs.3,025 per gram on 14th November, with the price dropping to Rs.2,960 on 18th November.
• Gold traded at Rs.2,965 per gram on 20th November, recording a marginal increase in price.

November '16 - Weeks 4 and 5 (21st to 30th)

• The continued effect of demonetisation led to demand for gold falling due to a paucity of funds.
• Gold was priced at Rs.2,970 per gram on 21st November as markets began to recover domestically.
• A strengthening Dollar and positive market trends led to lower demand for gold in the international markets as well, which impacted domestic demand.
• Prices fell gradually throughout the week, with gold closing at Rs.2,930 per gram on 30th November.

October 2016 – Weeks 1 and 2 (1st to 9th)

• Though the interest rate hike by the U.S. Federal Reserve has been put on hold till December, expectations have sprouted again as a further delay in the hike could lead to other problems for the economy.
• Gold as priced at Rs.3,160 on the 1st of October and prices remained stable until the 3rd.
• Prices declined consistently until the 7th when they hit Rs.3,020 per gram, and then remained stable until the 9th,
• Prices rose on the 10th to close the week at Rs.3,030 per gram.

October 2016 – Week 3 (10th to 16th)

• The price of gold per gram did not change from the closing levels of the previous week and prices stood at Rs.3,030 until the 13th of the month.
• Rates then increased by Rs.5 on the 14th and gain by Rs.5 on the 15th to settle at Rs.3,020 until the close of the week.
• In comparison with the previous week, gold prices declined by Rs.10 between the 10th and 16th of October.

October 2016 – Week 4 (17th to 23rd)

• There was little talk of the interest rate hike by the U.S. Federal Reserve this week.
• Rates fell by Rs.4 on the first day of the week to stand at Rs.3,016 per gram – the lowest recorded rate in the month of October.
• Rates then fluctuated for the next two days before rising to Rs.3,045 and remaining constant until the 21st.
• Prices then fell by Rs.10 and remained stable for another day to close the fourth week of October at Rs.3,035 per gram.

October 2016 – Week 5 (24th to 31st)

• Gold prices increased during the last week of the month as festive demand picked up in the domestic market.
• The week began with fluctuations but prices soared to Rs.3,070 on the 29th and remained stable for another day before a drop by Rs.10 on the final day of trading saw the precious metal close the week at Rs.3,060 per gram.
• The overall decline in prices between the first and last day of October was 3.16%.

September '16 - Week 1 (1st to 4th)

• Gold traded at Rs.3,125 per gram on 1st September.
• On 2nd September, gold rates dropped to the lowest for this month when it traded at Rs.3,115 per gram.
• Prices soon started to rise as U.S. economic data was weak indicating that a Fed rate hike would not be possible this month.
• Demand for the yellow metal started to rise and the price of gold got a boost to Rs.3,140 per gram on 3rd and 4th September.

September '16 - Week 2 (5th to 11th)

• Gold continued to traded at Rs.3,140 per gram this week till 6th September.
• The constant rates could be attributed to steady demand for gold.
• Owing to positive global trends, gold rates climbed.
• Gold traded at Rs.3,180 per gram at the end of the week.

September '16 - Week 3 (12th to 18th)

• At the start of the week, gold was seen trading at a constant pace of Rs.3,180 per gram.
• The price of gold slipped after the U.S. Federal Reserve raised expectations of an interest rate hike.

• Demand was sluggish as investors took a backseat.
• Gold prices fell to Rs.3,155 per gram at the end of the week.

September '16 - Week 4 (19th to 25th)

• Gold traded at Rs.3,155 per gram for majority of the week.
• Prices climbed on 25th September as the Fed rate hike was postponed to December.
• The U.S. Federal Reserve felt that the presidential elections were too close to introduce a rate hike now.
• Gold prices soared to Rs.3,190 per gram as demand got a solid boost.

September '16 - Week 5 (26th to 30th)

• Gold traded at Rs.3,190 per gram from 26th to 29th September.
• The constant trend was a direct result of stable demand in the domestic and global markets.
• The market bore a bearish outlook on 30th September as the dollar gained strength.
• Gold rates fell to Rs.3,160 per gram on 30th September.
• The trend for this month was an increase of 1.12%