*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.
|Insight of Gold Rate in Pune - March 2018||Insight of Gold trend in Pune - February 2018||Insight of Gold trend in Pune - January 2018|
Gold Price in Pune
Pune has transformed itself from an educational hub to a cosmopolitan city in the last few years and is now considered as an excellent destination for safe investments. Gold, has been the preferred choice of investment in India regardless of the prevailing gold rate, making it a commodity which is always in demand. Pune boasts of a qualified, professional crowd, one which has the money and wisdom to invest in gold.
With no gold mine in Pune, residents depend on gold supplied from other cities in India and exported gold to cater to their needs. This would mean that the gold here is a bit more expensive compared to places which produce gold. Gold rates change on a daily basis, keeping into account world gold rates and market trends.
Pune is considered one of the best destinations in India for safe-haven investments such as gold. Despite the surging gold prices, people’s participation in the bullion trade has not been deterred in the city. However, there are a lot of questions left unanswered that are related to the precious metal. So, here is a detailed explanation aimed at covering every possible topic that relates to the bullion and its investment in Pune.
Gold can be bought in either the 22 Karat form or the 24 Karat form and the gold rates vary depending on the purity and quantity of gold present in an item. 22 karat gold is about 92% pure, making it less expensive than 24 karat gold, which is 99.99% pure.
Trend of Gold Rate in Pune for March 2018 (rates per gram for 24 karat gold)
March 2018 - Week 1 (1 - 5):
- Pune saw gold trading at Rs.3,147 per gram on 1 March as jewellers lowered demand for the precious metal.
- In spite of major fluctuations in the market performance across other cities, there was no significant change in the price of gold in Pune.
- Local demand was also muted, resulting in gold price in Pune remaining constant for most of the week.
- A slight dip in the price was observed as the week ended on 5 March, with gold trading at Rs.3,146 per gram.
March 2018 - Week 2 (5-11):
- Gold rates in Pune started at Rs.3,146 per gram when the second week of March commenced.
- The metal continued to traded at the same rate for the next two days as local demand remained largely unchanged despite changes in the global market.
- On the 8th, gold rates in Pune went up slightly to Rs.3,148 per gram before continuing on at this rate for the next day as well.
- However, as local demand dropped, gold rates fell to Rs.3,134 per gram on the 10th of March.
- When the week came to an end, gold rates were still recorded at Rs.3,134 per gram.
Trend of Gold Rate in Pune for February 2018 (rates per gram for 24 karat gold)
|Parameters||Gold price (24 karat)|
|Gold rate on 1st February 2018||Rs.3,128 per gram|
|Gold rate on 28th February 2018||Rs.3,147 per gram|
|Highest Rate in February||Rs.3,148 per gram on 3, 4, 5, 7 and from 17 to 22 February|
|Lowest Rate in February||Rs.3,091 per gram from 9 to 11 February|
|Overall Monthly Performance||Incline|
February 2018 - Week 1 (1st - 4th)
- The month began in Pune with the precious metal trading at Rs.3,128 per gram on the 1st of February.
- The release of the highly anticipated US employment data had no effect on the local market, and gold price in Pune were holding steady at Rs.3,128 per gram on the 2nd.
- Strong domestic demand amid the strengthening US dollar led to gold rate in Pune rising to Rs.3,148 per gram on the 3rd.
- When the week concluded, the metal was priced at Rs.3,148 per gram on the 4th with steady demand from local industries, retailers and industries.
February 2018 - Week 2 (5th -11th)
- Gold traded at Rs.3,148 per gram in Pune when the week began in Pune.
- Prices fell to Rs.3,125 on 6th, and analysts suggested that “today’s gold rate” saw a change due to the US dollar bouncing back.
- The 6th saw gold rate in Pune rise back after the previous day’s fall to Rs.3,148 per gram as demand from the domestic market trumped the USD’s performance.
- The remaining few days saw gold rates fall as local demand weakened amid poor sales from various investing quarters of the city.
- Gold rates in Pune dropped to Rs.3,125 per gram on the 8th of February, and fell again by Rs.34 the next day to hit Rs.3,091 per gram.
- The last two days of this week saw gold trading at Rs.3,091 per gram due to steady demand.
February 2018 - Week 3 (12th - 18th)
- The third week opened with the bullion trading relatively higher at Rs.3,103 per gram on the 12th with the US dollar declining after the previous week’s rally.
- The US dollar lost against other apex currencies with investors and traders eyeing on the US price data for signs of interest rate hikes. This resulted in an increased demand for the yellow metal.
- The strong global cues coupled with strong demand from local jewellers, retailers and industries resulted in gold price in Pune remaining untouched at Rs.3,103 per gram until the 15th.
- The 16th witnessed bullion prices surging to Rs.3,129 per gram with the greenback hitting near two-month lows amid the US tax cut concerns.
- Gold rate in Pune rose further to Rs.3,148 per gram the following day following a renewed interest in the safe-haven metal in order to hedge against inflation concerns.
- Trading concluded for the week with the precious metal holding steady at Rs.3,148 per gram on the 18th amid firm overseas trends.
February 2018 - Week 4 (19th - 25th)
- On the 19th, when the week began in Pune, gold was priced at Rs.3,148 per gram. The Pune market wasn’t hindered by the global bullion scenario, which was quite evident with the sales figures.
- For the next four days, i.e., till the 22nd of February, the yellow metal traded at Rs.3,148 per gram.
- As markets eagerly awaited the minutes from the latest Fed Reserve meeting, gold rates in Pune dropped slightly to Rs.3,145 per gram on the 23rd.
- With other markets remaining steady, gold rates in Mumbai saw little reason to change as well. For the remainder of the week i.e., the 24th and the 25th, gold price in Pune continued at Rs.3,145 per gram, thanks to stable demand.
February 2018 - Week 5 (26th - 28th)
- The final week commenced with the yellow metal trading at Rs.3,145 per gram on the 1st amid firm trend overseas.
- Thanks to an increase in demand from local jeweller, industries and retailers amid the steady dollar, gold price in Pune surged to Rs.3,147 per gram on the 27th.
- The month concluded with the bullion prices holding steady at Rs.3,147 per gram on the 28th and Pune registered a profit of 0.60% in gold trade during the course of the month.
Trend of Gold Rate in Pune for January 2018 (rates per gram for 24 karat gold)
|Parameters||Gold price (24 karat)|
|Gold Rate on 1st January 2018||Rs.3,093 per gram|
|Gold Rate on 31st January 2018||Rs.3,121 per gram|
|Highest Rate in January||Rs.3,162 per gram on 17 and 18 January|
|Lowest Rate in January||Rs.3,080 per gram from 4 to 8 January|
|Overall Monthly Performance||Incline|
January 2018 - Week 1 (1st - 7th)
- Gold rate in Pune was relatively unchanged for most part of the week.
- On the 1st of January, gold was priced at Rs.3,093 per gram.
- Due to a steady local demand, gold rates continued at Rs.3,093 per gram for the next two days as well.
- However, the 4th saw gold price in Pune reach Rs.3,080 per gram as local demand was affected by overseas trend slightly.
- Reports claimed that “today’s gold rate” declined due to decreased purchases from investors in the city.
- The final three days of the week saw gold trading at Rs.3,080 per gram.
January 2018 - Week 2 (8th - 14th)
- Trading began in Pune with gold priced at Rs.3,080 per gram on the 8th after local demand from domestic jewellers, industries and retailers subdued amid a poor trend overseas.
- Demand for the precious metal surged with the US dollar losing other other major emerging currencies and gold was trading at Rs.3,087 per gram on the 9th.
- Gold rate in Pune were recorded at Rs.3,094 per gram on the 10th before rising further to Rs.3,111 per gram the next day on account of the poorly performing equity markets that pushed demand higher for the metal.
- Gold price in Pune rose to Rs.3,114 per gram on the 12th with a slight increase in domestic demand from local jewellers, industries and retailers.
- On the 13th, gold rates in Pune touched a seven-week high of Rs.3,147 per gram with the US dollar performing poorly.
- Strong trends overseas coupled with increased global demand led to gold prices remaining unchanged at Rs.3,147 per gram for the rest of the week.
January 2018 - Week 3 (15th - 21st)
- Gold trading in Pune hit a peak in the beginning before consolidating as the week progressed.
- On the 15th of January, gold price in pune was at Rs.3,147 per gram. This rose to Rs.3,162 per gram on the 16th of the month as demand rose in the local market.
- Prices this week was largely on the steadier side in Pune despite some significant fluctuations in other major cities in the country.
- Gold continued to trade at Rs.3,162 per gram on the 17th and the 18th of January as well as domestic demand was stable.
- However, there was a considerable drop to be witnessed on the 19th when the yellow metal traded at Rs.3,148 per gram.
January 2018 - Week 4 (22nd - 28th)
- Gold was valued at Rs.3,100 per gram when the week began in Pune.
- As the local market took time to react to outside stimulus, gold continued at Rs.3,100 per gram on the 23rd as well.
- After slowdown in the US dollar became apparent, gold rate in Pune increased slightly to Rs.3,112 per gram on the 24th of the month.
- Courtesy of strong global cues, demand from local jewellers also increased. This pushed gold price in Pune to increase to Rs.3,144 per gram on the 25th of January.
- Gold recorded its highest rates since August 2016 globally but in the domestic market, demand seemed to fall flat. Due to this gold continued to trade at RS.3,144 per gram on the 26th of the month.
- Gold continued to trade at Rs.3,144 per gram over the final two days as demand saw little signs of picking up despite the positive stimulus offered by the international market.
January 2018 - Week 5 (29th - 31st)
- The week commenced in Pune with the bullion trading at Rs.3,144 per gram on the 29th.
- Strong domestic demand by industries, jewellers and retailers despite the recovering US dollar resulted in prices remaining unchanged at Rs.3,144 per gram on the 30th.
- The 31st, however, saw gold rate in Pune declining to Rs.3,121 per gram with demand dropping against the strengthening US dollar equities market.
- An increase in domestic demand brought about by the positive trends overseas resulted in Pune registering a profit of 0.90% during the course of the month.
|Parameters||Gold price (24 karat)|
|Gold Rate on 1st December 2017||Rs.3,074 per gram|
|Gold Rate on 31st December 2017||Rs.3,093 per gram|
|Highest Rate in December||Rs.3,094 per gram from 2 to 4 December|
|Lowest Rate in December||Rs.2,988 per gram on 12 and 13 December|
|Overall Monthly Performance||Incline|
December 2017 - Week 1 (1st - 10th)
- The month opened in Pune with the precious metal trading relatively lower at Rs.3,078 per gram amid a strengthening US dollar and firm equities.
- A strong global trend coupled with increased domestic buying to gold price in Pune surging to Rs.3,094 per gram on the 2nd.
- Rates remained unchanged at Rs.3,094 per gram until the 4th, thanks to steady demand from local jewellers, industries and retailers.
- However, the 5th saw prices declining after the tax bill to overhaul the US tax system was cleared by the Senate. This led to gold being priced at Rs.3,061 per gram.
- With the dollar gaining more ground ahead of the Federal Reserve meeting during the month, gold rate in Pune plunged further to Rs.3,048 per gram and Rs.3,045 per gram on the 6th and the 7th respectively.
- The bullion trade witnessed its lowest level in four months at Rs.3,014 per gram on the 8th due to a strong dollar index after the Republican tax bill received positive sentiments from investors.
- Subdued local demand coupled with uneven global trends led to gold rates remaining untouched at Rs.3,014 per gram for the remainder of the week.
December 2017 - Week 2 (11th - 17th)
- Gold was seen trading at Rs.3,014 per gram on the 11th of December.
- The 12th saw gold rate in Pune drop considerably to Rs.2,988 per gram due to low demand, and continued at the same rate on the 13th of the month.
- But, after Fed rate hike news hit the market, the US dollar lost its sheen. This led to the yellow metal’s rates rising to Rs.3,010 per gram on the 14th.
- A steady and consistent local demand held gold price in Pune at Rs.3,010 per gram for the remainder of the week.
December 2017 - Week 3 (18th - 24th)
- Gold was priced at Rs.3,000 per gram on the 18th with the bullion trade impacted by the ongoing US tax reform bill approval.
- The 19th and 20th recorded gold rate in Pune at Rs.3,012 per gram as equity markets muted with investors mulled over the ultimate result of the tax overhaul on the country’s economic growth.
- However, with the dollar dominating against other apex currencies prices dipped to Rs.3,010 per gram on the 21st.
- The Asian stocks began to decline after the newly approved tax cuts during the week. This led to gold rate in Pune rebounding to Rs.3,013 per gram on the 22nd.
- Strong global cues coupled with steady demand for the precious metal resulted in the bullion metal being priced at Rs.3,013 per gram for the remainder of the week.
December 2017 - Week 4 (25th - 31st)
- When the week began in Pune, gold was priced at Rs.3,013 per gram. This then went up to Rs.3,035 per gram on the 26th of the month as demand improved.
- The US dollar was going through a rough patch, which investors decided to take advantage of. This led to gold prices in Mumbai rising to Rs.3,048 per gram on the 27th of the month.
- On the 28th, gold rates surged again to Rs.3,068 per gram. Reports said that “today’s gold rate” went up because of positive global cues, where gold was trading at three-week high rates.
- The 29th saw gold rates increase slightly for the metal to sell at Rs.3,070 per gram.
- During the final two days of this week, gold rates increased to Rs.3,093 per gram as positive cues brought about by a weak US dollar, pushed gold rates to its highest levels since 2010.
|Parameters||Gold price (24 karat)|
|Gold rate on 1st November 2017||Rs.3,070 per gram|
|Gold rate on 30th November 2017||Rs.3,081 per gram|
|Highest Rate in November 2017||Rs.3,115 per gram on 19 and 20 November|
|Lowest Rate in November 2017||Rs.3,061 per gram on 6th November|
|Overall Monthly Performance||Incline|
November 2017 - Week 1 (1st - 5th)
- Gold price in Pune was weak this week as a consequence of the global outlook.
- When the week started, gold was priced at Rs.3,070 per gram - a Rs.18 decline from the previous day’s rates.
- Thanks to steady local demand, gold continued trading at Rs.3070 per gram on the 2nd of November.
- On the 3rd, however, gold rate in Pune fell to Rs.3,065 per gram as demand from domestic investors lost its steam.
- For the next two days, i.e., the 4th and the 5th, gold rates remained unchanged at Rs.3,065 per gram.
November 2017 - Week 2 (6th - 12th)
- When trading commenced in Pune, the yellow metal was trading relatively lower at Rs.3,061 per amid strengthening of the dollar.
- However, the next day saw demand for safe-haven assets rising with the cold war between Saudi Arabia and Iran heating up. This led to gold rate in Pune surging to Rs.3,081 per gram on the 7th.
- The dollar declined with uncertainties over possible delays in a major corporate tax cut over the next few days. This led to prices rising to Rs.3,087 per gram and Rs.3,091 per gram on the 8th and 9th respectively.
- On the 10th, Pune witnessed gold rate in Pune hitting its highest figure in almost three weeks with the dollar losing against most of the major emerging currencies.
- Prices dropped to Rs.3,093 per gram on the 11th, but the rates soon picked up to Rs.3,096 on the 12th owing to an increased local demand from jewellers, industries and retailers amid strong global cues.
November 2017 - Week 3 (13th - 19th)
- When markets opened for this week in Pune gold was seen trading at Rs.3,093 per gram.
- A rise in domestic demand saw gold price in Pune increase to Rs.3,101 per gram on the 14th of the month. A short drop in intensity caused gold rates to fall to Rs.3,099 per gram on the 15th.
- The US dollar’s strong performance, thanks to the treasury yields, caused gold rate in Pune to drop to Rs.3,093 per gram on the 16th.
- On the 17th and the 18th, demand for gold was steady, leading to the metal trading at Rs.3,090 per gram.
- A significant spike in demand seen on the 19th caused gold to trade at Rs.3,115 per gram till the closing hours of the day.
November 2017 - Week 4 (20th - 26th)
- In Pune, gold was priced at Rs.3,115 per gram when the week began.
- Gold rate in Pune fell to Rs.3,091 per gram on the 22nd because of a weakened trend overseas, which was brought about by cautious investors worldwide.
- As gold demand surged internationally, prices went up to Rs.3,102 per gram on the 23rd of the month.
- Gold price in Pune held on at Rs.3,102 per gram over the final three days of the week due to a weak trading performance in key Asian markets.
- The main reason for weak trading the final few days was because of an increased cost of buying gold.
November 2017 - Week 5 (27th - 30th)
- On the 27th of November, gold was priced at Rs.3,103 per gram and continued at the same rate on the 28th as well.
- The 29th saw gold rate in Pune drop to Rs.3,098 per gram due to a poor local trading, which was brought about by a strong US dollar.
- Gold price in Pune dropped again as the greenback strengthened further to cause a global slowdown in gold trades.
- When the month ended, the metal was last seen trading at Rs.3,081 per gram - a Rs.22 per gram drop in less than a week.
|Parameters||Gold price (24 karat)|
|Gold Rate on 1st October 2017||Rs.3,127 per gram|
|Gold Rate on 31st October 2017||Rs.3,088 per gram|
|Highest Rate in October 2017||Rs.3,135 per gram from 12 to 17 October|
|Lowest Rate in October 2017||Rs.3,002 per gram from 23 to 26 October|
|Overall Monthly Performance||Decline|
October 2017 - Week 1 (1st -7th)
- Demand for gold in Pune fell sharply as local and international demand was on the decline due to rising dollar rates and high-performing equities.
- Gold began the week at Rs.3,127 per gram and remained constant for a few days due to an increase in demand by jewellers.
- Gold price in Pune dropped to Rs.3,014 per gram on 3 October as international demand fell following an increase in the dollar rate.
- Positive global cues as well as impending release of positive jobs data from the U.S. led to a further drop in the price of gold, which traded at Rs.3,094 per gram on 5 October.
- The week ended with gold rate in Pune at Rs.3,084 per gram on 6 & 7 October as local demand fell but international demand rose marginally.
October 2017 - Week 2 (8th -14th)
- Gold demand in Pune was quite positive this week, thanks to a favourable bullion market, both domestically and globally.
- On the 8th of October, gold traded at Rs.3,084 per gram.
- As the US dollar fell considerably - due to the resumption of the nation’s stand-off with North Korea - gold rates went up to Rs.3,119 per gram on the 9th.
- Demand from local circles remained largely stable, which led to gold price in Pune still remaining at Rs.3,119 per gram on the 10th.
- However, a slightly increased demand on the 11th saw gold prices go up to Rs.3,125 per gram on the 11th.
- The 12th saw gold rate in Pune increase to Rs.3,135 per gram and continue to remain unchanged till the end of the week.
October 2017 - Week 3 (15th - 21st)
- Gold prices in Pune were largely consistent for much of the week as there was little change in demand.
- Gold was priced at Rs.3,135 per gram when the week started on the 15th of October.
- Prices didn’t change over the 16th and the 17th as local demand for gold was relatively on the sturdier side,
- But, a strong US dollar performance saw gold rate in Pune dip to Rs.3,011 per gram on the 18th of October.
- Pre-Diwali demand saw gold prices increase to Rs.3,012 per gram on the 19th and continue at the same rate till the closing hours of the 21st as investor demand was solid.
October 2017 - Week 4 (22nd -28th)
- Gold opened in Pune trading at Rs.3,012 per gram on the 22nd.
- Demand for the metal declined with the strengthening of the dollar against other apex currencies. This led to gold rate in Pune declining to Rs.3,002 per gram on the 23rd.
- Thanks to steady demand from domestic jewellers and industries, prices remained untouched at Rs.3,002 per gram on the 24th and the 25th.
- The dollar weakened against the euro in the wake of the European Central Bank meeting the following day. This resulted in gold rates in Pune surging to Rs.3,097 per gram on the 26th.
- However, the ECB’s decision to extend its monetary policy against expectations resulted in the dollar gaining over the euro. This led to the yellow metal trading at Rs.3,084 per gram on the 27th.
- When the week concluded on the 28th, the precious metal was trading firm at Rs.3,084 per gram owing to steady demand from retail jewellers, investors and industries in the city.
October 2017 - Week 5 (29th- 31st)
- On the 29th, gold was priced at Rs.3,084 per gram.
- A slight drop in global demand saw the metal’s rates fall to Rs.3,081 per gram on the 30th
- When the week drew to a close, gold rates in Pune were recorded at Rs.3,081 per gram as demand remained steady amidst the outcome of Fed Reserve meeting.
|Parameters||Gold price (24 karat)|
|September 1 Rate||Rs.3,045 per gram|
|September 30 Rate||Rs.3,127 per gram|
|Highest Rate in September||Rs.3,186 per gram from 9 to 13 September|
|Lowest Rate in September||Rs.3,045 per gram on 1 September|
|Overall Monthly Performance||Incline|
September 2017 - Week 1 (1st to 10th)
- When trading commenced on the 1st of September in Pune, when the week started, gold was trading at Rs.3,045 per gram.
- As domestic demand increased, courtesy of positive global cues, prices surged to Rs.3,073 per gram on the 3rd.
- For the next few days, until the 8th, gold rate in Pune remained unchanged due to consistent demand.
- Gold rate in Pune reached Rs.3,187 per gram on 9th September, a whopping Rs.113 increase within a single day due to an increased demand in the global market.
- A prime reason for this increase was the confirmation provided by North Korea that it indeed conducted one its most powerful nuclear test to date.
- Sustained buying trends on the 10th led to the metal still trading at Rs.3,187 per gram till the end of the day.
September 2017 - Week 2 (11th to 17th)
- Pune did not see much changes in the price of gold in the second week of September, with the metal trading at Rs.3,186 per gram as the week began on 11 September.
- Gold price in Pune remained constant for the next two days in spite of significant fluctuations in the dollar rate, as local demand kept prices stable.
- Demand dropped sharply as gold traded at Rs.3,140 per gram on 14 September as overseas demand was on the decline.
- The hurricanes battering the U.S. coast and the threat of impending war with North Korea led to stock markets plunging but investors stayed away from gold, which kept prices low.
- Local demand was also poor, which resulted in gold rate in Pune remaining at Rs.3,140 per gram as the week ended on 17 September.
September 2017 - Week 3 (18th-24th)
- Gold trading in Pune started off on a significant high this week and fell as the week progressed.
- On the 18th of September, gold was trading at Rs.3,140 per gram - the highest gold rate in India - and continued at the same rate on the next day.
- The 20th saw local demand fall considerably, pushing gold prices down to Rs.3,113 per gram. Rates dropped on the 21st as well, leading to the metal trading at Rs.3,107 per gram.
- The imminent arrival of the festive season led to a slight increase in prices on the 22nd. The yellow metal sold at Rs.3,109 per gram on this day.
- Due to demand remaining stable, gold rate in Pune remained unchanged till the closing hours of the week.
September 2017 - Week 4 (25th-30th)
- Gold prices in Pune started at at Rs.3,109 per gram.
- But, as festive demand kicked in, rates went up to Rs.3,164 per gram on the 26th.
- Gold rate in Pune went down to Rs.3,148 per gram on the 27th as the US dollar strengthened further after news about a possible Fed rate hike hit the markets.
- The 28th saw gold price in Pune fall to Rs.3,127 per gram as dollar remained steady and local investors refrained from investing.
- Demand remained stable on the 29th and the 30th, which led to the metal trading at Rs.3,127 per gram till the end of the week.
|Parameters||Gold price (24 karat)|
|August 1 Rate||Rs.2,988 per gram|
|August 31 Rate||Rs.3,045 per gram|
|Highest Rate in August||Rs.3,045 per gram from 29-31 August|
|Lowest Rate in August||Rs.2,978 per gram on 8 August|
|Overall Monthly Performance||Incline|
August ‘17 - Week 1 (1st to 6th)
- Contrary to trends seen across the country, there was no change in the price of gold in the first week of August in Pune.
- Gold opened the week trading at Rs.2,988 per gram on 1 August, with the gold price in Pune remaining unchanged from the previous month due to minimal fluctuations in demand.
- In spite of global trends that saw large-scale changes in the price of gold across the world, gold rate in Pune were unaffected due to steady demand from the local market.
- Gold traded at Rs.2,988 per gram throughout the week, as local consumption kept prices stable.
August ‘17 – Week 2 (7th to 13th)
- In Pune , gold prices remained on a subdued note for the first half of the week before going up significantly during the second half.
- On the 7th, gold in Pune was trading at Rs.2,988 per gram, but as local jewellers were cautious with their investment, rates went down to Rs.2,978 per gram.
- Positive cues from the international market led to gold prices increasing to Rs.2,998 per gram on the 9th.
- The 10th saw gold rate in Pune remain at Rs.2,998 per gram before increasing by Rs.46 to trade at Rs.3,044 per gram on the 11th of August.
- As demand remained steady despite falling international demand, gold price in Pune were seen holding at Rs.3,044 per gram over 12th and the 13th of August.
August ‘17 - Week 3 (14th to 20th)
- In trends seen across the country, gold prices in Pune also declined due to market conditions, trading at Rs.3,044 per gram on 14 August.
- There was no change in gold rate in Pune on 15 August but prices fell sharply on 16 August, trading at Rs.3,010 per gram.
- The upcoming U.S. Federal Reserve meeting led to a decline in demand for gold as consumers waited for results of the meeting, resulting in gold prices trading at Rs.3,010 per gram.
- Prices recovered as demand from Asia increased, with the yellow metal trading at Rs.3,038 per gram on 19 August.
- Consistent demand led to gold ending the week trading at Rs.3,038 per gram on 20 August.
August 2017 – Week 4 (21st - 27th)
- Gold rate in Pune remained the same throughout the week.
- The lack of change in prices was due to a steady demand from domestic jewellers for all days of this week.
- On the 21st, gold was priced at Rs.3,028 per gram.
- When the week ended, gold price in Pune ended at Rs.3,028 per gram.
August 2017 – Week 5 (28th - 31st)
- The price of gold in Pune was more or less stable as bullion prices were largely unaffected by changes seen across the globe.
- Gold was priced at Rs.3,028 per gram on 28 August, with the price remaining unchanged from the previous week due to steady local demand.
- Prices rose to Rs.3,045 per gram on 29 August as overseas markets increased demand for the yellow metal following the escalation of threats from North Korea.
- The devastation of Hurricane Harvey and its projected impact on the U.S. economy led to markets falling as gold prices remained steady.
- Prices remained unchanged as the month drew to a close, with gold continuing to trade at Rs.3,045 per gram thanks to stable local demand.
|Parameters||Gold price (24 karat)|
|July 1 Rate||Rs.3,055 per gram|
|July 31 Rate||Rs.2,988 per gram|
|Highest Rate in June||Rs.3,055 per gram on 1 and 2 July|
|Lowest Rate in June||Rs.2,902 per gram on 10 July|
|Overall Monthly Performance||Decline|
July 2017 - Week 1 (1st to 9th)
- Gold rate was quite steady during the first week of the month in Pune, without too many fluctuations.
- Rate of gold on 1 July was Rs.3,055 per gram. This was one of the highest rates at which this metal traded at in the entire country.
- However, the demand for gold fell which caused a drop in the rate of this metal. Gold traded at Rs.2,991 per gram on 3 July and continued at this rate the next day as well.
- Fluctuations were noted in the price of this metal due to geopolitical factors as well as variations in demand.
- Gold was priced at Rs.3,004 per gram on 5 July and continued at this price until 8 July. However, due to a fall in the demand, gold rate reduced on 9 July to trade at Rs.2,981 per gram.
July 2017 - Week 2 (10th to 16th)
- Although global demand saw both positives and negatives, gold price in Pune didn’t quite reflect the same trend with regards to trading.
- On the 10th of July, gold prices were recorded at Rs.2,902 per gram while the precious metal’s rates hit a near four-month low in the international market.
- Gold rate in Pune went up to Rs.2,919 per gram on the 12th as demand spiked due to a fall in US dollar rates.
- The 13th, however, saw gold prices dipped slightly to reach Rs.2,916 per gram.
- As international demand for gold went up, prices went up in Mumbai on the 14th for the metal to trade at Rs.2,923 per gram.
- Over the next two days, i.e., the 15th and 16th, gold rates remained at Rs.2,923 per gram as demand stabilised while US dollar value picked up.
July 2017 - Week 3 (17th to 23rd)
- Though gold price in pune opened the week at the same rate as the last week, there was a sharp spike in demand and the price over the course of the week.
- Gold was priced at Rs.2,923 per gram on 17 July and jumped to Rs.2,947 per gram on 18 July due to an increase in overseas demand due to lacklustre stock markets.
- Gold rate in Pune were constant for the next few days in spite of fluctuations in demand, as local demand was muted due to the impact of GST on the price of gold.
- The continued turmoil in the Unites States concerning the healthcare overhaul led to stock markets performing poorly and the dollar falling heavily against other global currencies.
- Gold prices capitalised on the low dollar value as prices rose to Rs.2,988 per gram on 22 July, with the price remaining constant as the week ended on 23 July.
July 2017 - Week 4 (24th to 31st):
- In Pune, demand for gold remained constant throughout the last week of July.
- On the 24th, gold was trading at Rs.2,988 per gram.
- Market meltdowns in the US failed to have any impact on gold prices in Mumbai, which was quite evident with no fluctuation in rates.
- Due to sustained demand from local jewellers, gold prices continued at Rs.2,988 per gram for the rest of the week.
- Despite gold hitting 7-month high figures globally - owing to poor US dollar performance - trading cues in Pune remained steady over this week.
|December 1st Rate||Rs.2,938 per gram|
|December 31st Rate||Rs.2,884 per gram|
|Highest Rate in December||Rs.2,892 per gram on 1st and 2nd December|
|Lowest Rate in December||Rs.2,810 per gram from 22nd to 26th December|
December 2016 - Week 1 (1st to 4th)
- Pune too didn’t see much of a surge in gold pricing as it started trading at Rs.2,938 per gram, as opposed to Rs.2,975 on the 30th of November.
- PM’s surgical strike on black money hit the gold sales in the state as there wasn’t much fluctuations to be seen throughout the week.
- The rates remained the same at Rs.2,938 for the 2nd, 3rd, and 4th of December as demand and supply seemed to in harmony with each other.
- At the end of 4th December, gold trading price closed at Rs.2,938.
December 2016 - Week 2 (5th-11th)
- Gold began trading at Rs.2,938 per gram and remained the same for the first three days of the week from December 5th to 7th.
- On December 8th, prices slipped by a massive margin of Rs.31 as gold traded at Rs.2,907. This same trend held on till the end of December 9th too.
- On December 10th, prices fell again by about Rs.28 as gold traded at Rs.2,879 at the end of the week on December 11th.
- New gold purchases seemed to be hit as demonetization had influenced people’s behaviour.
December 2016 - Week 3 (12th to 18th)
- Pune witnessed quite the fall in gold prices during the course of the week.
- When trading began on December 12th, gold prices stood at Rs.2,879 per gram.
- As there was no catalytic changes to be seen over the next two days, gold prices remained largely unchanged till the 14th.
- Gold traded at Rs.2,842 on the 15th as demand began to decrease.
- When the week ended on the 18th, gold prices had decreased by Rs.53 per gram as it traded at Rs.2,826 per gram.
December 2016 - Week 4 (19th to 25th)
- Of all the cities in the country, Pune, like Mumbai didn’t see much of a change in gold pricing either.
- At the beginning of the week, gold traded at Rs.2,826 per gram and continued at the same rate till the 21st of the month.
- The 22nd saw prices go down to Rs.2,810 per gram, and remained so till the end of the week on the 25th.
December 2016 - Week 5 (26th to 31st)
- Pune saw a marginal change in the price of gold as the effects of demonetisation continued to be felt.
- Gold traded at Rs.2,810 per gram on 26th December, with prices rising marginally to Rs.2,815 per gram on 27th December.
- A hike in price was seen on 28th December, with gold trading at Rs.2,848 per gram as demand rose due to a slump in the markets.
- Gold ended the month at Rs.2,884 per gram on 30th and 31st December.
|1st November rate||Rs.3,168 per gram|
|30th November rate||Rs.2,975 per gram|
|Highest rate in November||Rs.3,247 per gram on 11th and 12th November|
|Lowest rate in November||Rs.2,949 per gram on 25th to 27th November|
November '16 - Week 1 (1st to 6th)
- On 1st November, gold traded at Rs.3,168 per gram.
- Demand in the domestic spot market was high as the wedding season draws near.
- Gold climbed to Rs.3,197 per gram on 2nd November.
- Prices remained constant till the end of the week.
- In the global market, trends were positive as the dollar weakened ahead of the U.S. Federal Reserve’s decision on the interest rate hike.
- Prices could fall next week on account of the uncertain outcome of the U.S. elections coupled with speculation of the Fed rate hike.
November '16 - Week 2 (7th to 13th)
- Gold prices were relatively constant for majority of this week.
- In the global market, the U.S. elections resulted in the dollar losing strength and gold prices surged.
- Gold traded at Rs.3,247 per gram on 11th and 12th November, the highest for this week.
- In the domestic market, demand for gold took a hit as PM Modi launched a surgical strike on black money.
- With people being unable to use old Rs.500 and Rs.1,000 notes along with the imposition of PAN card requirements, gold prices dropped to Rs.3,082 per gram by the end of the week.
November '16 - Week 3 (14th to 20th)
- Gold traded at Rs.3,082 per gram from 14th to 17th November.
- Domestic demand stalled as people faced a cash crisis in the nation as PM Modi banned Rs.500 and Rs.1,000 notes.
- Retailers and jewellers complained of empty stores as the strike on black money played out.
- Gold prices dropped further to Rs.3,009 on 18th November and remained unchanged for the rest of the week.
November '16 - Week 4 and 5 (21st to 30th)
- The declining trend continued this week as demonetisation took a toll on the economy creating a severe cash crisis.
- Fear of scrutiny by the tax department coupled with strict PAN card requirements resulted in the gold business declining by 75%.
- Gold traded at Rs.3,009 per gram at the start of the week.
- A strong dollar backed by positive U.S. economic data made the market unfavourable for gold.
- Rising expectations of the Fed rate hike in December also resulted in gold prices retreating.
- Prices of the metal fell to Rs.2,975 per gram from 28th to 30th November indicating a drop of 1.13% this week.
|1st October rate||Rs.3,249 per gram|
|31st October rate||Rs.3,168 per gram|
|Highest rate in October||Rs.3,249 per gram on 1st and 2nd October|
|Lowest rate in October||Rs.3,123 per gram on 7th October to 9th October|
October '16 - Week 1 (1st to 7th)
- The Fed rate hike seems inevitable as further delays could lead to inflation and result in a bigger increase later.
- Gold prices took a hit this week and plunged by 3.88%.
- Gold traded at Rs.3,249 per gram on 1st October and fell to Rs.3,123 per gram by the end of the week.
- Domestic demand for gold was expected to pick up in the second half of 2016, but so far this has not been the case. Jewellers are hoping for demand to rise in the upcoming festive season.
October '16 - Week 2 (8th to 14th)
- Gold traded at Rs.3,123 per gram on 8th and 9th October.
- The price of gold climbed as global trends were positive. Demand in the domestic market also got a boost as jewellers and retailers increased their offtake.
- Gold rates touched Rs.3,143 per gram on 13th October, the highest for this week.
- On 14th October, prices dropped to Rs.3,133 per gram as political and financial risks led to a weak trend in the global market.
October '16 - Week 3 (15th to 21st)
- Gold traded at Rs.3,133 per gram for majority of the week.
- The stable trend could be attributed to a good amount of demand for the metal in the domestic spot market.
- Trends in the overseas market were positive giving gold prices a boost to Rs.3,154 per gram on 20th and 21st October.
- Demand is expected to pick up on account of the wedding season.
October '16 - Week 4 (22nd to 28th) & Week 5 (29th to 31st)
- Gold prices remained relatively stable this week.
- Gold traded at Rs.3,154 per gram from 22nd October to 25th October.
- Demand for gold received a boost as the dollar weakened.
- In the domestic market, festive demand and wedding season demand pushed jewellers to increase their intake.
- Gold prices climbed to Rs.3,168 per gram on 26th October and stayed constant till 31st october.
- The Fed rate hike is said to happen gradually which increased the appeal of the yellow metal
|1st September rate||Rs.3,212 per gram|
|30th September rate||Rs.3,279 per gram|
|Highest rate in September||Rs.3,285 per gram on 23rd to 26th September|
|Lowest rate in September||Rs.3,212 per gram on 1st September|
September '16 - Week 1 and 2 (1st to 10th)
- Gold prices remained stable this week on account of steady demand in the domestic market as the festival season approaches.
- Global trends set off by dampened U.S. economic data led to a rise in prices.
- Gold traded at Rs.3,212 per gram on 1st September, climber to Rs.3,229 per gram on 3rd September and remained constant till the end of the week.
September '16 - Week 3 (11th to 17th)
- Gold traded at a steady pace in Pune this week on account of sustained domestic demand.
- Gold prices rose from Rs.3,229 per gram on 11th September to Rs.3,246 per gram on 13th September, defying the drop in demand in the global markets.
- An interest rate hike by the U.S. Federal Reserve is expected this month which dampened the appeal of gold.
- With investors reluctant to make purchases, gold prices dipped to Rs.3,231 per gram on 17th September.
September '16 - Week 4 (18th to 24th)
- Investors were drawn to the yellow metal this week as the Fed rate hike seemed distant.
- Gold traded at Rs.3,231 per gram on 18th September.
- Demand in the domestic market was strong which lended support to gold rates.
- Gold traded at Rs.3,285 per gram on 23rd and 24th September.
September '16 - Week 5 (25th to 30th)
- Gold was seen trading at a steady pace for majority of the week, however the prices fell on 27th September.
- Gold traded at Rs.3,285 per gram at the start of the week.
- The dollar gained as U.S. presidential candidate Hillary Clinton blazed through the first debate with Donald Trump.
- With the U.S. market being optimistic, gold lost in the global market.
- Domestic demand also fell owing to global trends and gold closed the week at Rs.3,279 per gram.
|1st July rate||Rs.3,249 per gram|
|31st July rate||Rs.3,225 per gram|
|Highest rate in July||Rs.3,283 per gram on 18th August|
|Lowest rate in July||Rs.3,226 per gram on 6th to 9th August|
August '16 - Week 1 (1st to 7th)
- The price of gold was stable at the beginning of the week and rose towards the middle before falling as the week ended.
- The stable growth coupled with a bearish market resulted in prices stabilising.
- A surge in demand towards the middle of the week from domestic markets pushed prices to a weekly high of Rs.3,275 per gram.
- Prices fell as the U.S. markets recovered on data indicating economic growth, reducing demand for gold.
August '16 - Week 2 (8th-14th)
- Gold rates were steady through the week as gold traded at Rs.3,226 on 8th and 9th August.
- As the dollar lost its strength and domestic demand rose, gold climbed to Rs.3,260 per gram.
- Rates remained constant till the end of the week.
August '16 - Week 3 (15th-21st)
- Prices have slowly climbed through this week as demand in the domestic market is on the rise as the festive season approaches. Retail jewellers and stockists are gearing up to meet the oncoming demand.
- Gold traded at Rs.3,260 per gram on 15th August and touched Rs.3,283 per gram on 18th August, the highest for the week.
- Owing to a strong U.S. economy and a strong dollar, the rates dropped slightly as a Fed rate hike will mostly probably happen this year.
August '16 - Week 4 (22nd-28th)
- Gold traded at Rs.3,278 per gram on 22nd August.
- Gold prices declined following global cues as the dollar grew stronger.
- Domestic demand supported gold prices at Rs.3,268 per gram for majority of the week.
- By the end of the week, gold rates dropped to Rs.3,236 per gram.
August '16 - Week 5 (29th-31st)
- The dollar continued to rise sending gold prices down.
- Gold traded at Rs.3,236 per gram on 29th August.
- Prices dropped to a two-month low with gold trading at Rs.3,225 per gram on 31st August.
|1st July rate||Rs. 3,112 per gram|
|31st July rate||Rs. 3,249 per gram|
|Highest rate in July||Rs. 3,249 per gram on July 31|
|Lowest rate in July||Rs. 3,112 per gram on July 1|
July'16 - Week 1 and 2 (1st to 10th)
- Going into the month of July, trends in the global market had a direct effect on gold prices.
- The Brexit vote made gold more appealing with expectations of the Central banks adding more stimulus to the market.
- Gold prices rose through the week closing at Rs.3,246.
July'16 - Week 3 (11th to 17th)
- Gold rates were stable for most of the week, appreciating slightly as the week concluded.
- Prices were recorded at Rs.3,226 per gram on the first day of the week and Rs.3,234 per gram on the last day of the week.
- Prices rose marginally as the week ended on renewed domestic demand, with the difference in prices between the first and last days of the week being Rs.8.
July '16 - Week 4 (18th to 24th)
- Gold prices fell this week but at a steady pace.
- Gold traded at Rs. 3,234 per gram on 18th July.
- Weakening trends in the global market has sent gold spiralling down.
- Gold dropped to Rs.3,224 on 19th July and remained relatively stable till the end of the week.
July‘16 - Week 5 (25th to 31st)
- Gold prices in Pune remained stable at Rs.3,223 between the 25th and 30th of July.
- On the last day of the month, prices rose to their highest level during the 31-day period to close the month at Rs.3,249.
|1st June rate||Rs.3,038|
|30th June rate||Rs.3,112|
|Highest rate in June||Rs.3,192 on 27th of June|
|Lowest rate in June||Rs.3,015 on 3rd of June|
Jun'16 - Week 1 (1st to 5th)
- Entering June, gold rates in Pune were steady at Rs. 3,038.
- Prices dipped on 4th June owing to a dip in the domestic bullion market.
- Riding on the back of the U.S. dollar falling over a disappointed U.S. job data report, the gold rates rose comfortably on 5th June to Rs. 3,063.
Jun'16 - Week 2 (6th to 12th)
- Gold traded at Rs. 3,063 per gram. on the 6th and 7th of June.
- Prices increased further as gold traded at Rs. 3,078 per gram on the 8th of June.
- Gold hit the highest for the week on the11th and 12th of June at Rs. 3,123 per gram.
Jun'16 - Week 3 (13th to 19th)
- Gold traded at Rs. 3,123 per gram on the 13th of June.
- There was no change in the gold rate for the whole week as gold price remained the same at Rs. 3,123 per gram from the 13th of June to the 19th of June.
Jun'16 - Week 4 (20th to 26th)
- For the week between 20th to 26th June, the rate of gold was completely steady.
- There were no changes seen, although there was an increase in the price as the month progressed.
- This could be attributed to steady demand and reducing expectations of U.S. Federal Reserve rate increase.
Jun'16 - Week 5 (27th to 30th)
- Gold rates did not undergo drastic changes during the week as small losses and marginal gains wrote off each other as the week progressed.
- Prices were recorded at Rs.3,192 on the 27th of June and Rs.3,112 on the 30th of June.
- The overall change in rates over the last four days of June was Rs.80.
|1st May rate||Rs. 3,154 per gram|
|31st May rate||Rs. 3,018 per gram|
|Highest rate in May||Rs. 3,154 per gram on May 1|
|Lowest rate in May||Rs. 3,018 per gram on May 31|
May'16 - Week 1 (1st to 7th)
- Gold rates remained somewhat stable throughout the week with marginal increases and declines in prices constituting the order of the day.
- Prices were recorded at Rs.3,154 on the 1st of May and Rs.3,123 on the 7th of May.
- There was no major increase or decrease in prices during the week as the levels rose by a few rupees on certain days before subsequently declining by the end of the week.
May ‘16 - Week 2 (8th to 14th)
- Gold rates remained unchanged for the first four days of the week after which they declined by Rs.43 and remained stable for the rest of the week.
- Prices were recorded at Rs.3,155 on the 8th of May and Rs.3,112 on the 14th of May.
- Prices were stable for a few days and despite a fall in rates on Thursday, the week ended with prices gaining stability.
May ‘16 - Week 3 (15th to 21st)
- Gold rates remained stable for most days of the week, usurped only by a small decline on the 17th and a considerable gain on the last day of the week.
- Prices were recorded at Rs.3,140 on the 15th of May and Rs.3,094 on the 21st of May.
- Prices were stable for the first two days before falling on the third day and then remaining constant for the rest of the week until a gain of Rs.66 was recorded on the last day of the week.
May ‘16 - Week 4 (22nd to 28th)
- Gold rates remained steady till mid-week and then start to fall.
- Prices were recorded at Rs.3,094 on the 22nd of May and Rs.3,025 on the 28th of May .
- The decline in the rates was slow and steady and dropped by Rs. 69 by the end of the week. The trends in Mumbai and Pune were similar this week.
May ‘16 - Week 5 (29th to 31st)
- Rate of gold in Pune is generally higher than those of other cities as Pune does not possess a gold mine and gold will have to be brought here from other areas.
- The highest rate was noted on the 7th of may where gold traded at Rs. 3,155 per gram.
- There were minor fluctuations noted in the price of gold as the month progressed.
- Gold closed at Rs. 3,018 per gram on the final day of the month.
|1st April rate||Rs 2,989|
|30th April rate||Rs 3,154|
|Highest rate in April||Rs 3,154 on 30th|
|Lowest rate in April||Rs 2,989 from 1st to 11th|
|% Change||+ 5.52%|
Apr'16 - Weeks 1 & 2 (1st to 10th)
- Gold prices were constant at Rs.2,989 over the first ten days of April as strikes by bullion traders continued over the implementation of 1% excise duty on gold jewellery sales.
- Globally, prices experienced appreciations as rate hikes by the Fed looked set to be postponed and stock markets performed weakly in major markets.
Apr ‘16 - Week 3 (11th to 17th)
- Gold rates didn’t see much variations from last week as prices appreciated to Rs.3,038 by 11th and stayed at that level for the rest of the week as traders’ strike continued.
Apr ‘16 - Week 4 (18th to 24th)
- Gold prices were stable at Rs.3,038 till 23rd before dropping marginally to Rs.3,033 on 24th.
Apr ‘16 - Week 5 (25th to 30th)
- Gold rates in Pune remained unchanged from the previous week till the 28th.
- Prices stayed steady at Rs 3,033 from 25th to 28th.
- Rates picked up over the next two days, ending the week at a high of Rs 3,154.
1st March rate
31st March rate
Highest rate in March
Rs 3,093 from 12th to 17th
Lowest rate in March
Rs 2,989 from 22nd to 31st
Mar'16 - Week 1 (1st to 6th)
- Gold markets were closed through the week in the city as traders and jewellers went up against the government by announcing an indefinite strike against the Budget 2016-7 proposal that levies 1% excise duty on jewellery sales.
- Prices were constant at last week’s closing rate of Rs.3,068.
Mar'16 - Week 2 (7th to 13th)
- Trading remained suspended for the most part in the second week also as jewellers continued protesting against 1% excise duty introduction on non-silver jewellery and mandatory PAN disclosures for transactions over Rs.2 lakhs.
- Prices were constant at last week’s closing rate of Rs.3,068 till 11th and rose to Rs.3,093 for the rest of the week.
Mar ‘16 - Week 3 (14th to 20th)
- Gold trading was again suspended as markets remained closed for the third week.
- Prices were constant at Rs.3,093 till 17th and Rs.3,033 thereon.
Mar ‘16 - Week 4 (21st to 27th)
- Gold saw another week of sporadic trading as traders continued their protests over proposed budgetary changes even as jewellers opened stores for business.
- Prices were stable at Rs.2,989 over the course of the week.
Mar ‘16 - Week 5 (28th to 31st)
- Markets stabilised after a period of unrest, gaining momentum due to a weak US Dollar.
- Prices were constant throughout the week, trading at Rs 2,989.
1st February rate
29th February rate
Highest rate in February
Rs.3,068 on 27th, 28th and 29th
Lowest rate in February
Rs.2,714 on 1st
Feb'16 - Week 1 (1st to 7th)
- Gold gained value in the 1st week of trading in February, building up on the previous gains seen in January.
- Rates were Rs.2,714 on 1st and Rs.2,882 on 7th.
- Prices continued the rise as the wedding season demand spurred rates while global cues were also help in nudging rates up.
- Gold rose on back-to-back days to breach the 2,800-level for the first time this year on 4th when it was trading at Rs.2,832.
- Prices continued the upward climb and touched a 9-months high of Rs.2,882 on 7th.
Feb '16 - Week 2 (8th to 14th)
- Gold prices surged in the second week of February, rising on the back of ongoing domestic demand as well as strong global cues and a weakening rupee which made imports costlier.
- Rates were Rs.2,875 on 8th and Rs.2,944 on 14th.
- Gold breached the 2,900 mark and settled at Rs.2,942 on 9th and 10th.
- Prices slid to Rs.2,833 on 11th before making a significant comeback of Rs.208 to rise to Rs.3,045 on 12th, the highest gold rate in Pune in over 19 months.
- Prices slid to Rs.2,944 on 13th and 14th and ended the week Rs.69 higher.
Feb '16 - Week 3 (15th to 21st)
- Gold rose in the third week, continuing its golden run this year as domestic demand stayed strong and global trends also pushed rates in the upward direction.
- Rates were Rs.2,994 on 15th and Rs.3,028 on 21st.
- The week opened negatively for gold rates, with prices dropping by Rs.42 on 16th to settle at Rs.2,952.
- Gold rose to Rs.2,973 by 18th before rising by Rs.55 on 19th touch reclaim the 3,000-mark once again in the month.
- Gold settled at Rs.3,028 from 19th to 21st.
Feb '16 - Week 4 (22nd to 29th)
- Gold appreciated again in the last week of February, with rates staying north of Rs.3,000 throughout the week as global cues firmed up while there was decent demand on the domestic front.
- Rates were Rs.3,005 on 22nd and Rs.3,068 on 29th.
- Gold rose to Rs.3,064 by 25th and gained another Rs.4 on 27th to touch a high of Rs.3,068.
- Prices remained stable for the rest of the week at Rs.3,068.
|4th January rate||Rs.2,621|
|31st January rate||Rs.2,775|
|Highest rate in January||Rs.2,789 on 27th, 28th and 29th|
|Lowest rate in January||Rs.2,541 on 5th|
Jan'16 - Week 1 (4th to 10th)
- Gold rates were marginally up in the first week of trading in the new year.
- Rates were Rs.2,621 on 4th and Rs.2,630 on 10th.
- Gold lost substantial value on 5th when prices dropped by Rs.60 to settle at Rs.2,541.
- Gold had all positive session from 6th to 9th on account of global cues as well as increased demand from the domestic sector.
- Gold gained Rs.89 over the course of the week to end slightly higher at Rs.2,630 on 10th.
Jan '16 - Week 2 (11th to 17th)
- Gold lost value in the 2nd week.
- Rates were Rs.2,636 on 11th and Rs.2,598 on 17th.
- Gold was down for the most part of week before stabilizing towards the end, as sluggish domestic demand pulled rates down while a weaker rupee helped stabilize rates.
- Gold dropped marginally to Rs.2,634 by 13th, before dropping substantially by Rs.36 on 14th to settle at Rs.2,598.
- Prices were stable for the rest of the week at Rs.2,598.
Jan '16 - Week 3 (18th to 24th)
- Gold gained substantial value in the 3rd week of the month on the back of increased domestic demand as well as strong global cues.
- Rates were Rs.2,654 on 18th and Rs.2,729 on 24th.
- Prices fell marginally to Rs.2,644 on 19th before rallying back to Rs.2,654 on 21st.
- Gold gained Rs.82 on 22nd to breach 2,700-mark and touch Rs.2,736, but lost almost all the value on the next day to settle at Rs.2,661.
- Prices rose once again on 24th to rest at Rs.2,729 for the week.
Jan '16 - Week 4 (24th to 31st)
- Gold gained value during the final days of January.
- Rates were Rs.2,729 on 25th and Rs.2,775 on 31st.
- Gold rallied on the back of a softer dollar as well as increased domestic demand from jewellers.
- Gold prices rose to Rs.2,789 by 27th and settled at that rate till 29th.
- Prices saw high fluctuations on 30th and 31st as there was a drop of Rs.89 on 30th and a gain of Rs.75 on 31st, which ended the month at Rs.2,775.
1st December rate
31st December rate
Highest rate in December
Rs.2,665 on 5th and 6th
Lowest rate in December
Rs.2,550 on 1st
Dec'15 - Week 1 (1st to 7th)
- Gold rates appreciated in the 1st week of the month.
- Prices were Rs.2,550 on 1st and Rs.2,596 on 7th.
- Gold gained a substantial value of Rs.80 on 2nd to touch Rs.2,630 by day end.
- Prices dropped to Rs.2,567 on 3rd and Rs.2,551 on 4th.
- Gold rallied by Rs.98 on 5th to touch Rs.2,665 on 5th and 6th before dropping to Rs.2,596 on 7th.
Dec'15 - Week 2 (8th to 14th)
- Gold was volatile in the 2nd week of November.
- Prices were Rs.2,593 on 8th and Rs.2,597 on 14th.
- Gold prices fell to Rs.2,572 on 9th and stayed within 2,570-2,580 till 11th.
- Prices dropped to Rs.2,565 on 12th from Rs.2,575 in 11th.
- Gold made a substantial comeback on 13th rising by Rs.99 to settle at Rs.2,664.
- Gold lost Rs.67 on 14th to rest at week ending rate of Rs.2,597.
Dec'15 - Week 3 (15th to 21st)
- Gold prices depreciated in the 3rd week.
- Prices were Rs.2,576 on 15th and Rs.2,552 on 21st.
- Gold fell by Rs.16 for the first 3 days of the week to drop to Rs.2,560 by 18th evening.
- Gold appreciated by a significant Rs.54 on 19th to settle at Rs.2,614.
- Prices were stable for 20th at Rs.2,614 by dropped by a substantial Rs.62 on 21st to end at Rs.2,552.
Dec'15 - Week 4 (22nd to 28th)
- Gold prices were volatile in the 4th week.
- Rates were Rs.2,562 on 22nd and Rs.2,558 on 28th.
- Gold appreciated substantially by Rs.75 on 23rd to settle at Rs.2,537.
- The gain was lost on the next day when prices dropped by Rs.79 to fall to Rs.2,558.
- Gold once again rallied steeply on 25th to Rs.2,627, a rise of Rs.69.
- Prices were stable at Rs.2,627 till 27th before dropping substantially to Rs.2,558 on 28th.
Dec'15 - Week 5 (29th to 31st)
- Gold prices were mostly stable in the 5th week.
- Rates were Rs.2,562 on 29th and Rs.2,558 on 31st.
- Gold rose to Rs.2,563 on 30th before dropping to Rs.2,558 on the last day of the year.
1st November rate
30th November rate
Highest rate in November
Rs.2,686.50 on 1st
Lowest rate in November
Rs.2,550 on 21st, 22nd and 25th
- Gold rate in Pune declined in the 1st week of November.
- Gold was priced at Rs.2,686.50 on 1st and Rs.2,590 on 7th.
- Gold gained value only on 3rd when prices rose to Rs.2,680 from Rs.2,674 from the previous day.
- Gold rate declined steeply on 4th by Rs.39 to rest at Rs.2,641.
- This further fell on 5th, 6th and 7th, with Rs.35 drop in rates seen on 7th from previous day’s figure.
Nov '15 - Week 2 (8th to 14th)
- Gold rates saw steep changes in the 2nd week of the month.
- Prices were Rs.2,590 on 8th and Rs.2,557 on 14th.
- Gold rates appreciated by Rs.38 on 9th and fell by Rs.48 on 10th.
- Gold gained another Rs.53.50 on 12th to touch Rs.2,627.
- Rates declined over the next two days by Rs.26 and Rs.44 to touch Rs.2,557 on 14th.
Nov '15 - Week 3 (15th to 21st)
- Gold rates were stable at week beginning and end rates.
- Prices were Rs.2,557 on 15th and Rs.2,550 on 21st.
- Gold gained substantially on 16th to reach Rs.2,680, but lost the gained value on 17th to touch Rs.2,595.
- Gold rates dropped further over the week to stabilize at 2,550 level by week end.
Nov '15 - Week 4 and 5 (22nd to 30th)
- Gold gained marginally in the last weeks of November.
- Prices were Rs.2,550 on 22nd and Rs.2,558 on 30th.
- Gold appreciated by Rs.29 on 23rd to touch Rs.2,570 and lost out the gain over the next two days to settle at Rs.2,550 once more on 25th.
- Prices appreciated by Rs.32 on 26th to breach Rs.2,580 level and settled at Rs.2,582 by 27th.
- Gold was priced at Rs.2,578 on 28th and 29th, and depreciated to Rs.2,558 on 30th.
1st October rate
31st October rate
Highest rate in October
Rs.2,725 on 15th
Oct '15 - Week 1 (1st to 7th)
- Gold rates appreciated in the first week of October.
- Gold was priced at Rs.2,600 on 1st and Rs.2,623 on 7th.
- Prices climbed on 4th to breach the 2,620 mark.
- Prices remained stable at this level for the remaining part of the week.
Oct '15 - Week 2 (8th to 14th)
- Gold rate appreciated again in the second week of October.
- Rates were at Rs.2,627 on 8th and Rs.2,649.50 on 14th.
- Prices climbed on 12th and 14th and dropped on 13th.
Oct '15 - Week 3 (15th to 21st)
- Prices appreciated overall in the third week of the month.
- Gold was priced at Rs.2,669 on 15th and Rs.2,717 on 21st.
- Gold rate appreciated steeply on 19th when prices touched Rs.2,725 from Rs.2,686.50. This was the highest gold rate in Pune for October.
- Gold rate dropped on 20th to 2,710 before climbing to Rs.2,717 on 21st.
Oct '15 - Week 4 (22nd to 28th)
- Gold rates appreciated overall for the fourth week.
- Gold was priced at Rs.2,686.50 on 22nd and Rs.2,707 on 28th again.
- Prices breached the 2,700 mark on 23rd and 26th clocking in Rs.2,712 and Rs.2,701 respectively.
Oct '15 - Week 5 (29th to 31st)
- Gold rates loss value in the final days of the month.
- Prices had appreciated to Rs.2,721 on 29th and dropped to Rs.2,686.50 on 30th before maintaining the same rate on 31st.
Gold rate in Pune over the month of September saw volatility throughout the month. Gold was priced at Rs.2,702 at the start of the month on 1st, which dropped to Rs.2,671 by 4th. Gold rate stabilized over the next few days at the same level, with price on 8th being Rs.2,664. The 2nd week saw prices decline over the first few days to Rs.2,620 by 12th. However, the session on 13th brought up prices steeply to Rs.2,724.
Gold rate continued to be high till 18th when prices dropped once again to Rs.2,659. Prices further fell over the next three days to drop to Rs.2,640 by 23rd of the month. The next two days saw a mini rally in gold rates, which once again breached the Rs.2,710 mark on 25th, when gold was priced at Rs2,712. The next four days were once again tumultuous for gold as rates declined steeply till the end of the month to reach Rs.2,652 by 30th of the month.
Gold rate saw immense volatility in the month of September. Starting at a high of Rs.2,702, prices saw a see-saw movement throughout the month, with small rallies and drops in rates on a weekly basis. Gold rate ended lower than the start of the month. Gold rates are likely to remain volatile over the coming days, however price appreciation can be expected at the onset of the upcoming festive season.
Gold is often considered as a safe investment as the risk factor involved in this is very less and there is always a demand for it. There are plenty of ways to invest in gold, depending on the money at hand and the needs.
Jewelry – Indians and residents of Pune in particular love their jewelry and while most might not view buying jewelry as an investment it could be a worthy asset in times of need. The drawback of investing in jewelry is that we fail to factor in wastage and making charges, which may lower the actual value of gold. Resale of jewelry might however not fetch market value.
Bullion Bars – Gold bullion bars can be an investment option for those with large investment capacities. The bars generally weigh close to 1 kg and have high purity, being about 99.5% pure and are considered a good option for those who can afford them. High net worth individuals in Pune have woken up to gold bars as an investment and the city has seen a slow growth in them.
Bullion coins – These coins are much cheaper than bars and can be an investment option for people who are looking to spend less. Pune is home to a vast upper middle class society and gold coins can be a perfect investment option for them. These coins are easy to sell and provide a source for liquid assets.
Allocated Gold Accounts – Investing in gold through allocated gold accounts can be a smart option for those who wish to own gold but are not keen to keep it with them. Banks which offer this account would keep the gold with them and it can be accessed by the owner when needed.
Investments in gold act as a safety valve against inflation, as it has good resale value and can be a life-saver in case of emergencies.
24 karat gold – The cost of 24 karat gold in Pune is around Rs 2720 per gram as of June 2015. The rate has seen a minimal decline in the last 12 month, with prices hovering around the Rs 2800 mark, having peaked at Rs 2900 about 6 months ago.
22 karat gold – One gram of 22 karat gold in Pune costs around Rs 2530, as of June 2015. The cost has seen extremes in the last year, with prices going as high as Rs 2700 and falling to a low of Rs 2400. The current market rate makes it the right time to invest in gold, with gold rates expected to go up in the future.
Most of the gold purchased in Pune is through the established players, with pan India presence. Some of the big names in Pune are KP Gems World, Krishna Jewellers, VS Waikar and Sons, Sagar Jewellers and Tikhe Saraf. Gold can be purchased at the smaller stores across town too, with stores catering to individual needs and demands.
How Are Gold Prices Determined In Pune?
Gold rate in Pune mainly follow an international trend,i.e., when the gold price rises or loses in the international market, rates move proportionally in Pune simultaneously. Another aspect on which gold prices in Pune are dependent are the exchange rates. If the US dollar rises against the Indian rupee, cost of importing gold will also increase. This will, in turn, increase gold prices in Pune. Other factors that determine gold prices are:
- The minimal cost charged by banks to import the gold
- Price of gold on the Multi Commodity Exchange (MCX)
- Goods and Services Tax (GST) on gold
How Does GST Affect Gold Rate in Pune?
As per the previous tax regulations, gold was assessed at 12.2%, out of which 1% was the customs duty, 1.2% was the value-added tax (VAT) and the remaining 10% was the import duty on gold. However, with the implementation of Goods and Services Tax (GST) on 01 July 2017, the VAT and customs duty has been eliminated and replaced with a 3% GST adjacent to the previous import duty of 10%. In the retail sector, an additional 5% making charge is added to the 3% GST and 10% import duty.
What Are The Factors Affecting Gold Prices In Pune?
One of the most common misconceptions in Pune is that gold rates surge higher during festivals. However, the only reason prices tend to go up is due to the increased consumer demand during the festive season. Hence, it isn’t necessary that the arrival of the festive season will result in gold rates going up.
However, gold marketed in the global markets are influenced by various aspects such as interest rates, exchange rates and the movement of the US dollar index. Gold is inversely proportional to the dollar,i.e., when the dollar value rises, gold plunges and vice versa. Similarly, if you’re sure that US dollar index will gain against other currencies, please proceed and buy gold as gold rates will definitely decline against a strong dollar index.
What Are The Means Of Investing In Gold In Pune?
Pune, being an excellent destination for safe-haven investments in the country has a lot to offer for gold and gold investment. From the most consumer-centric jewellery, ornaments and gold coins to other investments like gold bullions and gold Exchange Traded Funds also known as gold ETFs.
Things To Know Before Investing In Gold In Pune
Before investing in the bullion, one must know about a lot of things such the purity level, labour charges and even the time of your purchase. Here’s a list of things to consider to give you an in-depth knowledge before making an investment.
- The purity of gold: Gold is classified into many levels based on its purity. The most common ones are 24 karat, (99.9% and above), 22 karat (92% pure), 18 karat (75% pure and 14 karat (58.33% pure) gold. The 24 karat gold is considered as the purest form of the precious metal. However, the high level of purity limits its level of customizability to jewellers and 24 karat being very brittle is liable to break easily while performing sophisticated works on them. Hence, 22 karat gold is chosen over the 24 karat gold by jewellers to perform personalise designs according to its need.
- Certification: Once you’ve zeroed in on the purity, the next thing to know is the certification of gold you’re purchasing. Gold is usually certified into two categories - KDM gold and Hallmarked gold. They are categorised based on the metal used for alloying and purity. Before making the investment, it is important to ensure that the gold being purchased has the right certification.
- Time of purchase: Most people believe that the time of purchase has nothing to do with the price of gold. In Pune, however, gold rates tend to go higher during the festive and wedding seasons due to an increase in consumer demand as opposed to purchases during the off season. Hence, it is also important to keep track of the prices during the time of purchase. Lookout for seasonal offers which major jewellery outlets put up often.
- Labour charges: Another thing to consider when buying gold is the labour charge. A labour charge is a compensation for the man-hours spent on the type of jewellery you are buying. It also depends on the detailing required for the design. It can either be machine-made or man-made. Man-made jewellery is usually priced higher than the machine-made jewellery. However, at most jewellers, customers can also negotiate for a discount on the jewellery.
Are gold prices in Pune expected to rise in 2018?
Though it's difficult to predict the future of gold rates in Pune, the recent market trends witnessed over the last couple of months indicate that gold is gearing up for another bull run during the year. With the US Federal Reserve deciding to raise the number of interest rates hikes from three to four, the bullion trade could see a considerable rise in prices. With the US dollar losing significantly after the Republican government failed to produce any convincing policy achievements during Donald Trump’s first year of presidency, gold is expected to benefit further during the year.
What Are The Advantages Of Buying Gold In Pune?
There are a great number of advantages when it comes to buying gold in Pune. The main advantage is that investing in gold can hedge investors and consumers from times of inflation. Reportedly, in the last few decades, the bullion has given some outstanding yields to consumers. Another important advantage is that gold can also act as security during times of emergency. Gold is more of a need rather than an investment. One of the biggest advantages of buying gold in Pune is that purchasing gold for your personal needs can also eventually end up as an investment in the future. Other ways of investing in gold also include Gold ETFs. Gold ETF is an option available to invest in gold online. Buying a unit of gold ETF is equivalent to owning a gram of physical gold. Gold ETFs not only protects you against currency fluctuations but also saves you from undergoing any making charges. The bottom line is that the advantages of buying gold in Pune far outweigh the disadvantages. This makes gold one of most preferred metal for safe-investments in Pune.
- Also Check:Gold Rate in Maharashtra
Also Check Gold Price in NearBy Cities of Pune
|Gold Rate In Aurangabad||Gold Rate In Thane||Gold Rate In Nashik||Gold Rate In Solapur|
|Gold Rate In Amravati||Gold Rate In Nanded||Gold Rate In Sangli||Gold Rate In Jalgaon|
|Gold Rate In Kolhapur||Gold Rate In Mumbai||Gold Rate In Nagpur|
|Also Know: Silver Rate in Pune|
Read more on Gold
- Good Days To Buy Gold In 2018
- Importance of Akshaya Tritiya in India
- Know Why Is Gold An Excellent Investment
- Reason Behind Gold Rates Fluctuation
- How to Buy Genuine Gold In India
- Things To Remember Before Buying Gold Jewellery
- Why Gold is Important in an Indian Wedding