Gold Rate In Panaji

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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 October 2018 (rates per gram)

Parameters	Gold price (24 carat)
October 1 Rate	Rs.3,017 per gram
October 31 Rate	Rs.3,140 per gram
Highest Rate in October	Rs.3,140 per gram on 31 October
Lowest Rate in October	Rs.3,014 per gram on 2 October
Overall Monthly Performance	Incline
Percentage Change	4.07%

Trend of Gold Rate in Panaji for September 2018 (rates per gram)

Parameters	Gold price (24 carat)
September 1 Rate	Rs.2,984 per gram
September 30 Rate	Rs.3,017 per gram
Highest Rate in September	Rs.3,035 per gram on 26 September
Lowest Rate in September	Rs.2,972 per gram on 3 and 4 September
Overall Monthly Performance	Incline
Percentage Change	1.10%

Trend of Gold Rate in Panaji for August 2018 (rates per gram)

Parameters	Gold price (24 carat)
August 1 Rate	Rs.3,146 per gram
August 31 Rate	Rs.3,082 per gram
Highest Rate in August	Rs.3,165 per gram on 6 and 7 August
Lowest Rate in August	Rs.3,082 per gram on 31 August
Overall Monthly Performance	Decline
Percentage Change	-2.03%

August 2018 - Week 1 (1 - 5)

• Gold opened at Rs.2,964 per gram on 1 August as the demand for the metal was steady ahead of the central bank’s monetary policy review.
• As the retailer demand for the metal fell and the value of the US dollar rose, the price of gold fell marginally and traded at Rs.2,930 per gram on 2 August.
• As the US dollar dominated against other apex currencies, gold prices in Panaji fell throughout the first week of August.
• Gold closed at Rs.2,914 per gram on 5 August.

August 2018 - Week 2 (6 - 12)

• From 6 to 9 August, the gold rate in Panaji remained stable and continued trading at Rs.2,914 per gram. Gold prices could remain stable due to the steady demand for the metal from local industries, jewelers, and retailers.
• Though experts expected the price of gold in Panaji to rise after the US unemployment data was released, fluctuating demand led gold rates to decline in the following days.
• Gold traded at Rs.2.909 per gram on 10 and 11 August.
• On the last day of the week, a slight increase in gold rates was noted as the local demand for the metal picked up. The metal traded at Rs.2,919 per gram on this day.

August 2018 - Week 3 (13 - 19)

• Trading commenced for the week with gold in Panaji priced at Rs.2,919 per gram on the 13 August.
• As the US dollar was losing its value, the prices of gold surged in Panaji this week.
• As investors banked on the bullion, gold prices rose and traded at Rs.2,930 per gram on 14 August.
• As the value of the US dollar starting recovering, gold prices fell to Rs.2,919 per gram on 15 August.
• Due to weak trend overseas, gold in Panaji recorded holding a monthly low of Rs.2,888 per gram on 17 August.

August 2018 - Week 4 (20 - 26)

• On the first day of the week, gold was priced relatively high. The precious metal at Rs.2,898 per gram on 20 August. On the other hand, the US dollar stabilised amid the rising trade war concerns.
• Gold prices fluctuated throughout the week. As the value of the US dollar fell during the week after President Trump criticized the Federal Reserve for raising the US interest rates, the price of gold surged in Panaji.
• Gold was traded at Rs.2,909 on 22 August and increased further to Rs.2,919 per gram on 23 August.
• During the last few days of the week, gold prices fell due to poor demand and closed at Rs.2,914 per gram.

August 2018 - Week 5 (27 - 31)

• The precious metal continued to trade at Rs.2,914 per gram on the 27 August.
• As the US dollar index lost against a basket of major emerging currencies again this week, the demand for gold increased in Panaji.
• This led gold price in Panaji rising to a monthly high of Rs.2,964 per gram on 28 August which continued to trade at the same rate next day amid the firm trend overseas.
• The month ended with gold in Panaji closing slightly lower at Rs.2,959 per gram on 30 and 31 August with subdued but steady demand from local industries and jewellers.
• Panaji registered a profit of 0.81% in gold trade owing to the firm trends overseas that pushed demand higher during the month.

Trend of Gold Rate in Panaji for July 2018 (rates per gram)

Parameters	Gold price (24 karat)
July 1 Rate	Rs.3,146 per gram
July 31 Rate	Rs.3,082 per gram
Highest Rate in July	Rs.3,165 per gram on 7 July
Lowest Rate in July	Rs.3,082 per gram on 31 July
Overall Monthly Performance	Decline
Percentage Change	-2.03%

July 2018- Week 1 (1-6)

• The month began with the Gold rate standing at Rs.2,993 per gram, a slight drop from the last month which can be associated with the dollar price strengthening.
• Gold prices crept up slightly on 5 July to Rs.3,008 per gram as the dollar dropped slightly, and trade policies regarding the Federal Reserve interest rate change created tension in the economy.
• Gold rates held steady for the next few days as the dollar eased ahead of the Federal Reserve's policy meeting (Fed Minutes) for July.
• The Gold rate for Panaji remained stable at the end of the week, standing at Rs. 3,008.

July 2018- Week 2 (7-13)

• The precious metal still rose in value at the start of Week 2. This price trend can be associated with a slight decline in dollar rates during the same period. The price at the start of Week 2 was Rs.3,014.
• In spite of the dollar weakening, Gold rates in Panaji continued to remain stable up until 11 July.
• Gold prices in Panaji declined due to an increased dollar, while the trade spat between China and the USA escalated. The metal’s price on 13 July was Rs.3,003
• The price of the metal in Panaji, at the end of Week 2, remained stable despite the fact that dollar rate increased.

July 2018- Week 3 (14-20)

• Gold price in Panaji commenced at Rs.2,972 at the start of Week 3, a decline when compared to the price of the metal at the end of Week 2.
• The dollar price continued to climb, which did not have an effect on the gold price in Panaji for the coming few days. As on 13 July up to 18 July, the Gold rate was relatively the same, at Rs.2,972 per gram.
• Even weak demand for the precious metal unaffected its rate in Panaji.
• US dollar dropped from a three-week high on 19 July, which led to the deterioration of Gold rates in Panaji. It stood at Rs.2,940 per gram on 19 July, and the week ended at the same price.

July 2018- Week 4 (21-31)

• The week started off with the Gold price in Panaji standing at Rs.2,945 per gram.
• US dollar declined to a two-week-low on 23 July, which increased the Gold prices in Panaji. The Gold rate on 23 July, too, stood at Rs.2,956 per gram.
• On 24 July the US Treasury yields rose, which also failed to alter the Gold rate in Panaji.
• On 26 July, the Gold rate decreased as US dollar sliped after the President of USA, Donald Trump and European Commission President Jean-Claude Juncker agreed to work towards eliminating trade barriers. The price of Gold in Panaji stood at Rs.2,945 per gram.
• The Gold rate then stabilised, and at the end of the month, and the price in Panaji was recorded at Rs.2,940.

Trend of Gold Rate in Panaji for June 2018 (rates per gram)

Parameters	Gold price (24 karat)
June 1 Rate	Rs.3,066 per gram
June 30 Rate	Rs.2,998 per gram
Highest Rate in June	Rs.3,066 per gram on 1 June
Lowest Rate in June	Rs.32,998 per gram on 30 June
Overall Monthly Performance	Decline
Percentage Change	-2.21%

June 2018- Week 1 (1-10)

• The month began with gold priced at Rs.3,066 per gram in Panaji, as increased demand from jewellers and a favourable climate kept the metal’s price stable.
• The impending summit between Donald Trump and Kim Jong-Un led to increased market volatility, but investors stayed away from bullion.
• Gold prices were on the decline for much of the week, trading at Rs.3,029 per gram on 5 June as local demand also began to reduce due to the high import price.
• The steady dollar rate coupled with a bullish market made gold lose lustre for investors, as the precious metal continued to trade low.
• The revival of trade war rhetoric from the U.S. led to markets reeling and renewed bullion sales, as gold rose to Rs.3,056 per gram on 8 June.
• The week ended with the price unchanged, as gold continued its rally due to stable market conditions.

June 2018- Week 2 (11-17)

• Gold prices fluctuated significantly in the second week, as global currencies fell heavily against a resurgent dollar, with gold starting the week at Rs.3,056 per gram on 11 June.
• Prices dipped to Rs.3,045 per gram on 12 June as local retail demand was poor on account of the rising cost of imports.
• The yellow metal soared to Rs.3,101 per gram on 14 June after the threat of fresh trade sanctions against China caused a drop in global stock markets.
• Prices fell sharply the next day, with gold trading at Rs.3,066 per gram on 16 June as markets rebounded from their previous day’s losses.
• Prices were on the decline as the week ended, with gold priced at Rs.3,045 per gram on 17 June.

June 2018- Week 3 (18-24)

• The continued rise of the dollar and lowered interest in gold led to the metal’s value falling steadily over the course of the week.
• Gold was priced at Rs.3,045 per gram on 18 June as local industrial units reduced offtake due to the rising costs associated with a resurgent dollar.
• The drop in price continued, as investors awaited news from the Federal Reserve meeting on possible interest rate hikes and economic policy.
• China’s retaliatory trade tariffs against the U.S. led to equity markets falling, but gold prices continued to trade low at Rs.3,035 per gram on 20 June.
• There was a brief rise in price as gold jumped to Rs.3,040 per gram on 22 June as the dollar weakened after the fresh trade sanction announcement.

June 2018- Week 4 (25-30)

• The last week of June saw Panaji’s gold prices dip on prevalent trends and poor local demand.
• The precious metal was price at Rs.3,008 per gram on 25 June before prices recovered to trade at Rs.3,014 per gram on 26 June.
• With the Brexit negotiations affecting markets negatively, there was a rise in demand for gold, as the metal traded at Rs.3,134 per gram on 27 June.
• Prices dipped sharply as the dollar strengthened in spite of the escalation of the trade tariff dispute, with gold falling to Rs.3,014 per gram on 28 June,
• The continued firming of the dollar led to gold ending the month at Rs.2,998 per gram to lose 2.21% of its value over the month.

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

Parameters	Gold price (24 karat)
May 1 Rate	Rs.3,060 per gram
May 31 Rate	Rs.3,061 per gram
Highest Rate in May	Rs.3,103 per gram on 14 May
Lowest Rate in May	Rs.3,045 per gram on 22 May
Overall Monthly Performance	Incline
Percentage Change	-0.03%

May 2018 - Week 1 (1st - 6th)

• The week commenced with the bullion trading at Rs.3,060 per gram on the 1st in Panaji.
• The dollar rose further against a basket of currencies ahead of the two-day Federal Reserve monetary policy meeting. This led to gold rates in Panaji plunging to Rs.3,056 per gram on the 3rd.
• However, the Federal Reserve’s decision to gradually increase the interest rates led to the dollar weakening in the global trade. This led to gold prices improving over the next few days.
• The week ended with gold prices holding at Rs.3,071 per gram on the 6th as the dollar weakened amid rising geopolitical concerns.

May 2018 - Week 2 (7th - 13th)

• When the week began on the 7th, the precious metal was priced at Rs.3,077 per gram.
• This then rose to Rs.3,082 per gram due to increased buying but fell back to Rs.3,077 per gram on the 8th as the US dollar surged ahead of positive treasury yields.
• A rise in local demand pushed prices in Panaji up to Rs.3,082 per gram on the 9th. The previous day’s incline was helped by a poor inflation data in the US.
• Gold traded at a much improved rate of Rs.3,087 per gram on the 11th before recording a Rs.16 jump to sell at Rs.3,103 per gram.
• On the final day of this week, gold traded at Rs.3,103 per gram.

May 2018 - Week 3 (14th - 20th)

• Gold prices in Panaji were recorded holding at Rs.3,103 per gram on the 14th, when the week began amid positive overseas cues.
• The precious metal was priced at Rs.3,092 per gram on the 15th before plunging to Rs.3,087 per gram on the 16th amid the poor trend overseas.
• Demand declined further with the US dollar holding onto its gains over during the week and gold was recorded trading at Rs.3,060 per gram on the 17th.
• The 18th saw bullion rates plummeting to Rs.3,087 per gram before plunging further to Rs.3,050 per gram towards the end of the week after the strengthening US dollar coupled with rising equities resulted in declining demand at the domestic front.

May 2018 - Week 4 (21st - 27th)

• In Panaji, gold opened at a relatively strong rate of Rs.3,050 per gram. Due to a drop in demand ahead of a strong dollar, gold rates dropped to Rs.3,045 per gram on the 22nd.
• On the 23rd, gold rates in Panaji went up to Rs.3,060 per gram - a Rs.15 increase compared to the previous day.
• Local demand also surged over the next two days and gold began to trade at Rs.3,066 per gram on the 24th and then at Rs.3,067 per gram on the 25th.
• The 26th again saw gold rates in Panaji rise to Rs.3,087 per gram before dropping to Rs.3,077 per gram on the final day of the month.

May 2018 - Week 5 (28th - 31st)

• Gold trading opened in Panaji with rates holding firm at Rs.3,077 per gram on the 28th with consistent demand from domestic industries.
• However, with the US dollar gaining against a basket of other apex currencies, gold rate in Panaji dropped to Rs.3,061 per gram on the 29th.
• Steady domestic demand despite the weak trends overseas led to gold being priced at Rs.3,061 per gram the next day.
• The month came to an end with the yellow metal trading at Rs.3,061 per gram amid weak global cues.

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%

April 2018 - Week 1 (1st - 7th):

• On the first of the month, gold was priced at Rs.3,019 per gram in Panaji. The price remained the same for the next two days as well.
• The stability in the rate of the metal can be linked to the stability in the USD/INR exchange rate, along with the demand for gold, which was also stable.
• The price on the 4th then increased to Rs.3,029 per gram. Favourable US economic reports and a devalued dollar have caused a price rise of Rs.10 per gram within the first 4 days of the month.
• However, a steady decline in the price of gold on 5th, 6th and 7th of April occured because of the sluggish gold market in Panaji.
• The average gold rate for the first week of April stood mighty at Rs.3,017 per gram. Both upward and downward trends were noticed during the week.

April 2018 - Week 1 (8th - 15th):

• On 8th, the beginning of the second week of April, gold retailed at Rs.3,019 per gram. However, the price of the metal dropped to Rs.3,014 per gram on 9th and 10th.
• Subsequently, on 12th and 13th, gold price in Panaji rose by Rs.21 per gram and Rs.29 per gram respectively. This increment was caused due to the increase in demand for gold.
• The highest that the price of gold stood during the week was Rs.3,069 per gram, the lowest rate was registered at Rs.3,014 per gram.
• The gold rate in Panaji averaged at Rs.3,037 per gram during the second week of April, slightly higher than that of the previous week. The demand for gold was steady during this week. The increment in price could be due to a marginal rise in inflation.

April 2018 - Week 3 (16th - 22nd):

• During the first five days of the third week, gold rate in Panaji continued to rise, however, they dropped significantly on 21st and 22nd April.
• Even though the INR gained its conversion rate almost by Re.1 against the USD this week, gold prices were not impacted in the city.
• In comparison with the first two weeks, the average price of the metal has risen considerably. This could have been triggered by local factors such as unchanged rate of interests on cash deposits and bonds.
• Globally, employment opportunities, GDP reports, and production reports were reported to be positive.

April 2018 - Week 4 (23rd - 30th):

• On 23rd, the gold rate per gram in Panaji stood at Rs.3,092. Market experts believed that the price would remain stable during the rest of the week.
• However, on 24th, the price of the metal declined to Rs.3,077 per gram due to unappealing market conditions.
• The price remained stable on the 25th, 26th and 27th April.
• The average gold rate in Panaji for this week was lower than that of the previous week. A strengthened dollar might be the cause.
• In April 2018, gold price in Panaji have exhibited a mixed reaction in sync with both domestic and international elements. For the entire month, growth rate was estimated to be 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.

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.