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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.
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 June 2017 (rates per gram for 24 karat gold)
June 2017 - Week 1 (1st-4th):
- Gold prices in Pune was on the higher side when compared to other cities.
- On the 1st of June, gold was priced at Rs.3,046 per gram and remained the same on the 2nd due to a sustained demand for the metal in the city.
- As some global factors saw gold prices increase internationally, gold prices went up to Rs.3,059 per gram.
- Due to there being no domestic factors in play, gold prices remained at Rs.3,059 per gram on the 4th as well.
June 2017 - Week 2 (5th - 11th)
- Gold prices were at Rs.3,059 per gram in Pune when the second week of June began on the 5th.
- Though, prices remained unchanged on the 6th, they went up considerably to Rs.3,077 per gram on the 7th.
- The 8th saw gold prices still holding at Rs.3,077 per gram as demand from the local circles largely remained constant.
- However, all the progress made over the previous days came undone as prices went down to Rs.3,053 per gram on the 9th.
- As the clout over US Labour Department’s Employment Report cleared, gold prices remained unchanged over the last two days of the week, i.e, the 10th and the 11th.
June 2017 - Week 3 (12th-18th)
- The gold rate in Pune was quite stable and relatively on the higher side as compared to the price of gold in other Indian cities. This could be attributed to stable and heavy demand for this metal.
- On the first day of the week in Pune, gold was priced at Rs.3,053 per gram and continued to trade at this price until the 14th of June .
- There were some issues regarding the import of bullion by banks due to a lack of clarity with respect to GST.
- A slight decline in the rate of this metal was noted from the 15th of June onwards. Gold was priced at Rs.3,033 per gram.
- Due to steady demand, gold continued to trade at this rate until the end of the third week of June.
Trend of Gold Rate in Pune for May 2017 (rates per gram for 24karat gold)
|May 1st Rate||Rs.3,061 per gram|
|May 31st Rate||Rs.3,046 per gram|
|Highest Rate in May||Rs.3,061 per gram on 1st & 2nd May|
|Lowest Rate in May||Rs.2,956 per gram from 11th-16th May|
May 2017 - Week 1 (1st-7th)
- Gold rate in Pune was quite stable if not very high during the first week of May.
- This could be attributed to steady demand for this metal in domestic markets as well as international markets.
- Gold was priced at Rs.3,061 per gram on the 1st of May and was stable at this rate on the 2nd of May as well.
- However, as the demand for this metal reduced and the value of the U.S.Dollar increased, the rate of gold fell drastically the next day to trade at Rs.3,020 per gram.
- From the 5th of May until the end of the week, gold was priced at Rs.2,996 per gram due to slow demand for this metal.
May 2017 – Week 2 (8th -14th)
- The price of gold in Pune saw a marked decline due to a drop in demand due to a resurgent stock market and reducing demand from industry.
- Gold traded at Rs.2,996 per gram on 8th May, with the price falling steeply to Rs.2,977 per gram on 9th May as markets reacted positively to the news of the victory of Emmanuel Macron in the French presidential election.
- As the U.S. Dollar gained on global currencies, industrial demand for gold fell, which led to prices falling to Rs.2,956 per gram on 11th May.
- The price remained unchanged as the week ended on 14th May, with gold prices falling by Rs.40 per gram during the week.
May 2017 - Week 3 (15th - 21st)
- The increase in prices during this week was mostly due to a surge in demand in the local market.
- On 15th, gold in Mumbai was trading at Rs.2,956 per gram.
- As there were no major changes in the domestic market, gold prices remained at Rs.2,956 per gram on the 16th.
- Due to news about Donald Trump’s interference over his government’s Russian connection spreading, gold rate went up to Rs.2,973 per gram on 17th.
- Rates jumped again on the 18th as they went up to Rs.3,017 per gram - an increase of Rs.44 per gram.
- The remaining days of the week didn’t see any price changes as market stabilised for a brief period.
May 2017 – Week 4 (22nd - 28th)
- The rate of gold in the city of Pune was quite high as compared to the rates noted in other cities and were largely steady.
- Gold was priced Rs.3,017 per gram on the first day of the week. This rate was a continuation of the prices seen during the previous week.
- The above price of gold was noted until the 24th of the month with the Manchester blasts having no impact on gold prices. Investors remained largely on the sidelines after the attack.
- However, as the demand for this metal fell, the rate of gold plunged to trade at Rs.3,028 per gram on the 26th of May. As the demand was steady despite being quite low, gold continued to trade at this price until the end of the week.
May ’17 – Week 5 (29th to 31st)
- Gold prices in Pune reflected those of its larger counterpart, Mumbai, with a decline in price observed.
- Gold traded at Rs.3,028 per gram on 29th May as investor demand continued to be low in spite of jittery markets following the blast in Manchester.
- Markets in India were unaffected by the terrorist attack in the U.K., though the Indian Rupee fell against the U.S. Dollar, leading to lower domestic demand for gold.
- Prices rose as the month ended, trading at Rs.3,046 per gram on 31st May. However, the overall performance of the metal was one of decline, as it fell by 0.49%.
|April 1st Rate||Rs.3,011 per gram|
|April 30th Rate||Rs.3,061 per gram|
|Highest Rate in April||Rs.3,061 per gram on the 29th and 30th of April|
|Lowest Rate in April||Rs.3,011 per gram on the 1st and 2nd of April|
April 2017 - Week 1 (1st-9th)
- The gold rate in Pune was quite stable as compared to other cities due to relatively stable demand.
- Gold was priced at Rs.3,011 per gram on the 1st of April, with prices remaining relatively constant as compared to that of the previous month.
- This rate was steady until the 3rd of April as there was no change in the rate of the U.S. Dollar or other factors that would have otherwise had an impact on the price of gold.
- Gold traded at Rs.3,043 per gram on 4th April, as a sudden rise in the U.S. Dollar and a hike in markets led to reduced demand for gold.
- Due to steady demand for this precious metal, the gold price in Pune remained steady until the end of the week trading at Rs.3,043 per gram.
April 2017 - Week 2 (10th-16th)
- Like the prices in Mumbai, gold rate in Pune didn’t see much of a change during April week 2.
- The week began on 10th with gold selling at Rs.3,025 per gram and due to a sustained demand and no apparent catalytic events, prices remained the same.
- When the week came to an end, gold was still trading at Rs.3,025 per gram, marking little to no difference from the prices on the first day.
April 2017 - Week 3 (17th-23rd)
- The price of gold was completely stable during the third week of April in Pune. This could be a result of a multitude of factors.
- There were no variations in the demand for this precious metal in both domestic and international markets and there was also no significant change noted in the value of the U.S.Dollar during this period.
- The rate of gold during this period was stable as well as high. This was due to the political tensions in Syria and North Korea resulting in investors flocking to purchase safe haven assets.
- Gold rate in Pune from the 17th of April to 23rd of April was Rs.3,025 per gram, without any variations.
April 2017 - Week 4 (24th-30th)
- There were a number of variations noted in the rate of gold during the final week of April in Pune.
- Market cues as well as geopolitical factors resulted in the price variations noted during the week.
- Gold was priced at Rs.3,025 per gram on the 24th of April and stayed steady at this rate on the 25th as well.
- As the week progressed, the rate of gold continued to increase, trading at Rs.3,048 per gram on the 27th and 28th of April. This was due to an increase in the demand for this metal.
- On the last two days of the month, gold was priced at Rs.3,061 per gram which was also the highest rate of gold noted during the week.
|March 1st Rate||Rs.3,054 per gram|
|March 31st Rate||Rs.3,011 per gram|
|Highest Rate in March||Rs.3,054 per gram on 1st March|
|Lowest Rate in March||Rs.2,968 per gram on 15th March|
March 2017 - Week 1 (1st - 4th):
- Pune clocked the highest gold rates in the country during the first week of March.
- The week began on 1st with gold trading at Rs.3,054 per gram and continued at the same rate during the next day.
- The 3rd, however, saw prices drop by Rs.28 per gram to hit Rs.3,026 per gram as demand seemed to tank.
- Rates didn’t see any change as strengthening of the US dollar didn’t allow for a change in price.
- When week 1 of March ended, gold was trading at Rs.3,026 per gram.
March 2017 - Week 2 (5th - 11th):
- Gold prices in Pune fluctuated considerably during the second week of March.
- When the week started on 5th, gold was trading at Rs.3,026 per gram and remained unchanged on 6th.
- As the demand decreased, gold prices too went down to Rs.3,016 per gram on 7th but rallied to reach Rs.3,045 per gram on 8th.
- After a sudden surge in demand, gold rates went down again on 9th to Rs.3,030 per gram and went down again by Rs.25 to reach Rs.3,005 per gram.
- When week 2 of March ended, gold in Pune was still trading at Rs.3,005 per gram.
March 2017 - Week 3 (12th-18th):
- Rate of gold in Pune was more or less stable for the week, in opposition to trends seen across the country.
- This precious metal traded at Rs.3,013 per gram on 13th March, with prices remaining relatively constant as compared to the previous week.
- This rate was steady until the 15th of March as there was no indication of international trends having an impact on the price of gold.
- Gold was priced at Rs.3,024 per gram on 16th March, as a sudden rise in the U.S. Dollar and a hike in markets led to reduced demand for gold.
- The rate increased to Rs.3,034 per gram on 17th March as gold demand rose in response to falling stock markets.
- Gold traded at Rs.3,034 per gram on 18th March, recording a weekly increase of Rs.21 per gram.
March 2017 - Week 4 (19th-25th):
- Mumbai’s neighbouring city Pune didn’t see much of a change in rate trends over the fourth week of March.
- The week started on 20th with gold priced at Rs.3,012 per gram and remained unchanged over the next two days till the 22nd.
- On 23rd, gold prices went up by Rs.23 to bring the metal’s prices up to Rs.3,035 per gram.
- As demand in the city cancelled out the impact of a strengthening dollar, gold was still trading at Rs.3,035 per gram on 24th.
- Due to domestic demand not budging, the week ended with gold prices still holding at Rs.3,035 per gram.
March 2017- Week 5 (26th-31st):
- In Pune, gold rates remained largely unchanged over the fifth week of March.
- The week began on 27th March with gold trading at Rs.3,035 per gram and continued at the same rate till the closing hours of the 30th.
- On 31st, however, gold rate in Pune slumped to Rs.3,011 per gram - a decrease of Rs.24 per gram - as domestic demand fell considerably.
|February 1st Rate||Rs.2,985 per gram|
|February 28th Rate||Rs.3,054 per gram|
|Highest Rate in February||Rs.3,054 per gram from 24th-28th February|
|Lowest Rate in February||Rs.2,985 per gram on 1st February|
February 2017 - Week 1 (1st-4th):
- Like Mumbai, gold rates saw considerable appreciation in Pune in the first week of February.
- Gold was trading at Rs.2,985 per gram on 1st, which later went up to Rs.3,014 per gram when trading began on 2nd.
- The sudden fluctuation in prices was due to a surge in global demand brought about by US President Donald Trump’s questionable policy decisions.
- At the end of the week on 4th gold prices didn’t see any change as it continued at Rs.3,014 per gram till the end of the business day.
February 2017 - Week 2 (5th-11th)
- The price of gold in Pune was unchanged at the start of the week but increased due to favourable market conditions.
- Gold was priced at Rs.3,014 per gram on 5th February, with the price remaining constant for the next two days as demand was steady.
- The price rose as trading in the metal increased due to market uncertainty, reaching Rs.3,034 per gram on 8th February, an increase of Rs.20 per gram from the previous day.
- Prices dipped as the week ended, with gold trading low at Rs.3,013 per gram on 10th February as demand from Asia slowed down.
- Gold traded at Rs.3,013 per gram on 11th February, a decline of Re.1 per gram from the start of the week.
February 2017 - Week 3 (12th-18th)
- The price of gold in Pune remained unchanged for the first few days of the third week as demand was stable, with gold trading at Rs.3,013 per gram from 12th-15th February.
- A fall in industrial demand was observed during the start of the week, which was offset by higher retail demand.
- Prices rose to Rs.3,024 per gram on 16th February as the U.S. Dollar dipped in price, which pushed demand for gold higher.
- Gold prices continued to rise, trading at Rs.3,034 per gram on 17th February due to an increase in demand from jewellers.
- Gold ended the week trading at Rs.3,034 per gram on 18th February to register an increase in price of Rs.21 per gram.
February 2017 - Weeks 4 & 5 (19th-28th)
- Gold prices in Pune were constant as demand was stable in the last two weeks of February.
- Gold traded at Rs.3,034 per gram on 19th February, with the price remaining constant till 23rd February.
- Local demand kept prices steady and helped gold trade at Rs.3,054 per gram on 24th February.
- Prices remained unchanged as the month ended, with gold trading at Rs.3,054 per gram to record a monthly increase of 2.31% in value.
|January 1st Rate||Rs.2,884 per gram|
|January 31st Rate||Rs.2,985 per gram|
|Highest Rate in January||Rs.3,010 per gram on 24th January|
|Lowest Rate in January||Rs.2,872 per gram on 2nd January|
January 2017 - Week 1 (1st to 7th)
- Although there was a minor blip with regards to gold rates on the 2nd, prices largely saw an increase throughout the week.
- When the week began, gold traded at Rs.2,884 per gram but decreased to Rs.2,872 on the 2nd.
- The 3rd, however, saw some positive growth for gold to hit the same price as on the 1st to trade at Rs.2,884.
- On 4th, gold rates again increased by Rs.11 to trade at Rs.2,895 per gram.
- The next three days of the week, i.e., from the 5th to the 7th, gold prices remained the same to cap off the week at Rs.2,908 per gram.
January 2017 - Week 2 (8th to 15th)
- Gold prices for the second week of January rose as demand was steady.
- Gold was priced at Rs.2,908 per gram on 8th January, with the price remaining constant for the next day.
- The price rose by Rs.30 per gram to Rs.2,938 per gram on 10th January as demand from jewellers increased due to the festive season.
- Prices rose to Rs.2,974 per gram on 12th January, marking an increase of Rs.36 per gram in a day due to fluctuating markets, which pushed demand for gold.
- Prices stayed constant for the rest of the week as markets began to recover, though demand was still high.
- Gold ended the week at Rs.2,974 per gram on 15th January, with the price increasing by Rs.66 per gram over the week.
January 2017 - Week 3 (15th to 21st):
- Gold trading rates in Pune remained largely the same for most of the week, except for the opening price on the 15th.
- The week began with gold trading at Rs.2,974 per gram.
- On 16th, prices increased by Rs.23 to Rs.2,997 per gram and continued at the same rate till the end of the week on the 21st.
- There weren’t any catalytic changes to be witnessed throughout the week, which paved the way for little to no fluctuations.
January 2017- Weeks 4 & 5 (22nd to 31st)
- Gold prices in Pune were steady as the week began, trading at Rs.2,997 per gram on consistent demand from industry.
- Domestic demand fluctuated due to market uncertainty over the upcoming Union Budget, but international demand kept prices stable.
- Uncertainty over the outcome of the U.S. Fed meeting the following week led to a decrease in demand for gold, which led to a reduction in its price as the week ended.
- Gold traded at Rs.2,985 per gram on 31st January, registering a marginal dip in price.
|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.
- 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 2017
- 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
News About Pune Gold Rate
Gold Prices Rise As Dollar Drops
The price of gold rose to a two-week high as the U.S. Dollar fell due to the Federal Reserve’s sluggish pace on interest rate hikes. Comex futures rose to a peak of $1,237.95 per troy ounce, the highest rate since 2nd March, 2017.
Spot gold also rose, trading at $1,237.70 per ounce, an increase of $3.40. The U.S> Dollar Index was also down, which sparked fears of a prolonged drop in value for the greenback.
With further uncertainty expected due to the tenuous political landscape and votes on major legislation, investors are hedging their bets and buying more bullion to offset potential risks.
Silver futures for May delivery rose marginally, rising to $17.58 a troy ounce, recording a 0.9% increase in price.
21st March 2017
Gold Prices Continues To Decline
The prices of gold in the bullion market is not steady. The last few sessions have seen some faint increase and decrease in gold rates. Over the past few dates, the prices of the yellow metal ranged from Rs. 30600 per kg to Rs. 31400. On Thursday, gold rate fell by 0.33% and stood at Rs. 30945 per 10 grams. The highest price for gold on that day was Rs. 31054 per 10 grams and the lowest was Rs. 30851 per kg.
30th August 2016
Gold price witnesses a dip in Asia as political concerns over Turkey disappear
Gold prices witnessed a dip in Asia on Monday following a failed weekend military takeover in NATO, ally Turkey was assessed with the fact that political risk as of now from the event has reduced. Gold on the Comex division on the New York Mercantile Exchange for August delivery dipped by 0.05% to $1,326.70 an ounce. Gold prices declined last week on Friday as several U.S. economic reports suggested that economic growth paced up in the second quarter of this year.
20th July 2016
Drop in demand from jewellers results in a dip in gold price by Rs.465
10 grams of gold now trades at Rs.30,400, a drop of Rs.465 from its 26-month high. Despite the metal trading strongly overseas, the reduced demand from jewellers and profit selling from the stockists is being cited as the reason for the dip in the rate.
Silver, on the other hand, continues to grow amid speculation of a looming collapse. The metal strode forward by Rs.90 to settle at a trading value of Rs.42,390 per kg. As usual, increased offtake from coin makers and industrial units is being cited as the reason for the advancing price.
A slowdown in the rate of purchases being made by jewellers (at higher levels) in the domestic markets is being cited as the primary reason for the dip in prices for gold.
In the global markets, however, gold was reported to have risen to $1,317.94 per ounce – a growth of 4.9%. Silver, too, grew in the global market to $17.73 per ounce – a growth of 2.6%.
4th July 2016
Gold prices hit two-month high on worldwide cues
Gold prices increased by Rs.340 to hit a two-month high. The value of ten grams of the precious metal currently stands at Rs.26,550 at the bullion market thanks to positive cues from the worldwide market despite increase in demand from jewellers during the wedding season. Silver also recovered to reclaim the Rs.34,000-mark by increasing by Rs.220 to Rs.34,105 per kilogram thanks to rising offtake by coin makers and industrial units. Bullion traders revealed that sentiment received a boost following gold’s gain in the past six weeks as Chinese stocks declined into a bear market and retail sales in the United States capped the weakest year since 2009.
18th January 2016
Banks to issue second tranche gold bond scheme imminently
The Finance Ministry on Wednesday stated that banks will issue the second tranche of sovereign gold bonds soon following the first tranche of the gold bond scheme in November by the Reserve Bank of India. The scheme is aimed at reducing the demand for physical gold as well encouraging people to invest in the precious metal in demat or paper form.
The gold bonds are issued in denominations of 5gm, 10gm, 50gm and 100gm for a term of five years to seven years with a rate of interest to be calculated on the value of the metal at the time of investment.
14th January 2016
Gold futures rise
Gold futures rose by Rs.50 to Rs.25,920 (10 gram) on short-covering on Tuesday.
Gold (February delivery) was trading higher 0.19% at Rs.25,920 (10 gram) in a turnover of 546 lots at the Multi Commodity Exchange. Gold (April delivery) rose by 0.08% at Rs. 26,004 (10 gram) in a turnover of four lots.
According to analysts, surge in gold prices can be attributed to short-covering by speculators.
Gold in Singapore was trading at $1,096.16.
13th January 2016
Gold Prices Recover from Six-Year Low
Gold prices recovered from the new six-year low recorded last week, increasing by 1.2% to $1060 per ounce as Wall Street’s losses were followed by European stock markets. Silver prices also rallied with gold, making up for the earlier 2% drop last week to trade above $13.90 per ounce. Experts revealed that the gold market is in line for a better future come 2016 as the metal has no found equilibrium so far as the US dollar is concerned, with central bank demand and physical investment in a better position to absorb mine supply, a lower pace of liquidation and scrap mainly from US investors.
22nd December 2015
- For more related news /update on gold price visit: Gold News