Gold Rate In Punjab

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Gold Rate in Punjab

Punjab is said to be one of the most prosperous states in India. It is a part of a very fertile area in North-west India, making it flourish in agriculture and related industries. The state capital is Chandigarh while the other important cities include Amritsar, Jalandhar, Ludhiana and Patiala. The region is rich in culture and gold forms a very important part of the regular festivities of India. Gold rates in Punjab, are highly driven by the rates for the yellow metal in the state and the traditional requirements such as for Dhanteras, weddings and other auspicious occasions. Lets not forget that the world renowned Golden Temple is also located in this state, in Amritsar.

Jewelry is the primary trading route for gold in Punjab, while the maximum demand for gold comes from the rural regions of the state. Punjab residents also go online to buy gold or buy gold from the bank for larger instruments. People can also buy gold for bullion, but gold has it maximum significance as being a traditional and auspicious buy.

Gold Rate Trend in Punjab for July 2018 to September 2018 (per gram of 24 karat gold)

Factor	July	August	September
1st day	Rs.3,124 per gram	Rs.3,050 per gram	Rs.3,103 per gram
Last day	Rs.3,056 per gram	Rs.3,092 per gram	Rs.3,140 per gram
Highest price	Rs.3,140 per gram on 7 July	Rs.3,092 per gram on 31 August	Rs.3,155 per gram on 26 and 27 September
Lowest price	Rs.3,056 per gram on 19 and 31 July	Rs.3,003 per gram from 17 to 19 August	Rs.3,082 per gram on 4 September
Trend	Decline	Incline	Incline
Change	-2.17%	1.37%	1.19%

Gold Rate Trend in Punjab for July 2018

• The opening price of gold stood at Rs.3,124 per gram due to a stable demand for the yellow metal in the market.
• As the rupee’s exchange rate against the U.S. dollar depreciated, local demand dropped as retail and industrial sales registered a decline in order volumes.
• Gold rates in Punjab inclined marginally on the 7th to trade at Rs.3,140 per gram; however, market forces and drop in overseas demand influenced local demand and rates.
• Due to the increasingly protectionist policies by the U.S. administration coupled with the depreciation of the rupee over the dollar resulted in gold rates falling to a low of Rs.3,056 per gram on the 31st of July to register a loss of 2.17% during the course of the month.

Gold Rate Trend in Punjab for August 2018

• While there was pressure on the yellow metal from a steady U.S. dollar, gold made some gains in the back of fluctuating equities and the increasing trust on safe-haven assets.
• On the 1st of August, the gold rate in Punjab stood at Rs.3,050 per gram because the industrial demand from Asia was slower than expected.
• Market volatility increased in the back of the trade war between the U.S. and China as investors hedged equities against purchases of the yellow metal but rates remained low.
• On the 17th of August, gold rates in Punjab dropped to its lowest of Rs.3,003 per gram, which remained unchanged until the 19th of the month as the U.S. dollar gained amid strong U.S. fundamentals and decline in the unemployment numbers.
• With fears of the long-term influence of the China-U.S. tariff war edged the demand for the precious metal to touch Rs.3,092 per gram on the 31st of the month.

Gold Rate Trend in Punjab for September 2018

• Gold rates in Punjab gained during the course of the month, with the yellow metal opening trading at Rs.3,103 per gram amid an increase in local demand.
• Despite the decline in the exchange rate of the Indian currency, there was an incline in demand for gold from jewellers ahead of the festive season prompting gold prices to rise.
• Demand for the precious metal in the international market fluctuated due to a volatile market during Brexit negotiations coupled with Italy’s budgetary crisis influencing the interest in bullion as a safe-haven asset.
• Gold touched a monthly high of Rs.3,155 per gram on the 26 and 27 September influenced by the increase in industrial demand.

Gold Rate Trend in Punjab for April 2018 to June 2018 (rates per gram of 24 karat gold)

Factor	April	May	June
1st day	Rs.3,140 per gram	Rs.3,192 per gram	Rs.3,187 per gram
Last day	Rs.3,208 per gram	Rs.3,187 per gram	Rs.3,124 per gram
Highest price	Rs.3,224 per gram on 20 April	Rs.3,234 per gram on 14 May	Rs.3,192 per gram on 16 June
Lowest price	Rs.3,129 per gram on 7 April	Rs.3,171 per gram on 18 May	Rs.3,124 per gram on 25 June
Trend	Incline	Decline	Decline
Change	2.16%	-0.15%	-1.32%

Gold Rate Trend in Punjab for April 2018

• Demand for gold in Punjab was on the upswing as local and international demand was high, with  the metal opening at Rs.3,140 per gram.
• Retail demand for gold kept prices steady, in spite of the dollar rate rising on positive U.S. jobs data reports.
• The trade stand-off between China and the U.S. caused markets to fall briefly, as global trade war fears resulted in higher demand for bullion as a safe-haven asset
• Prices rose to a monthly high of Rs.3,224 per gram on 20 April as industrial demand peaked following a sharp dip in the dollar rate.
• There was a minor dip in price as the month ended, with gold priced at Rs.3,208 per gram to record a 2.16% rise in value.

Gold Rate Trend in Punjab for May 2018

• The month began with gold prices falling to Rs.3,192 per gram on sluggish industrial demand and falling retail demand.
• Local jewellers reduced orders as the rupee fell steadily against the dollar, making imports of gold more expensive.
• The upcoming summit between North Korea and the U.S. also boosted the dollar, though equity markets remained volatile due to the escalating trade tensions.
• Gold fell to a monthly low of Rs.3,171 per gram on 18 May after a tumultuous trading day, as local retail demand dropped sharply.
• Prices failed to recover significantly over the rest of the month, as gold closed at Rs.3,181 per gram on 31 May.

Gold Rate Trend in Punjab for June 2018

• Gold opened the month strongly, trading at Rs.3,216 per gram as investors looked to gold due to wildly fluctuating equity markets.
• The upcoming North Korea-U.S. summit led to some fluctuations in the dollar rate, but demand for gold continued to remain static as investors stayed away from bullion.
• Escalating trade tensions between the U.S. and China over tariffs impacted global economies, but gold prices did not see any traction from the markets falling.
• The drop in prices continued as the month drew to a close, with gold priced at Rs.3,146 per gram due to poor offtake.

Gold Rate Trend in Punjab for January 2018 to March 2018 (per gram of 24 karat gold)

Factor	January	February	March
1st day	Rs.3,010 per gram	Rs.3,077 per gram	Rs.3,113 per gram
Last day	Rs.3,066 per gram	Rs.3,129 per gram	Rs.3,134 per gram
Highest price	Rs.3,120 per gram on 24 and 25 January	Rs.3,161 per gram on 18 and 19 February	Rs.3,171 per gram on 25 and 26 March
Lowest price	Rs.3,010 per gram from 1 to 3 January	Rs.3,035 per gram on 9 February	Rs.3,098 per gram on 19 and 20 March
Trend	Incline	Incline	Incline
Change	1.86%	1.68%	0.67%

Gold Rate Trend in Punjab for January 2018:

• The bullion trade in Punjab witnessed gold prices fluctuating considerably due to demand vagaries brought about by the uneven global cues during the month of January 2018.
• When trading began, the precious metal prices were recorded holding at Rs.3,010 per gram - the lowest recorded monthly figure - on the 1st amid subdued but steady demand from local jewellers and retailers.
• The next few weeks saw gold rates greatly influenced by the weakened US dollar, during which the bullion touched near seven-week highs in the international market.
• Gold rates in Punjab surged to Rs.3,120 per gram on the 24th after investors and stockists gravitated towards assets considered safer such as the bullion to hedge against inflation concerns. This was also the highest recorded monthly figure in the state.
• The rest of the month witnessed the US dollar gaining against a basket of other apex currencies due to which demand for the metal plunged.
• When the month came to an end, the yellow metal was recorded trading at Rs.3,066 per gram on the 31st, thanks to steady demand from local industries and jewellers despite the poor trends overseas.

Gold Rate Trend in Punjab for February 2018:

• Gold prices in Punjab were greatly affected by the fluctuating US dollar value and uncertainties in the equities market during the month.
• The month opened with gold trading at Rs.3,077 per gram on the 1st with the bullion holding on its gains from the previous session.
• The release of a stronger-than-expected employment data during the next few weeks resulted in the dollar surging against other emerging currencies. This led to a decline in demand for the metal at the domestic level.
• The 18th, however, saw gold rate in Punjab rising to Rs.3,161 per gram - the highest recorded monthly figure - after a poor US inflation data resulted in an increased investor demand for the precious metal.
• Steady domestic demand brought about by the ongoing local wedding season led to gold rates remaining unaltered at Rs.3,161 per gram on the 19th.
• Prices, however, decline over the next few days with the positive global trends wearing off amid the receding wedding demand. This led to gold being priced at Rs.3,119 per gram on the 23rd.
• The month concluded with the yellow metal prices holding at Rs.3,129 per gram on the last day after a drop in the US dollar value led to an increase in domestic demand for the metal.
• Punjab registered an increase of 1.68% in gold prices due to the strong market trends that increased demand for the metal during the course of the month.

Gold Rate Trend in Punjab for March 2018:

• When the last month of the quarter began, the bullion was recorded trading at Rs.3,113 per gram on the 1st amid firm trend overseas.
• Thanks to strong demand coupled with positive global cues over the next few days, gold prices in Punjab rose to Rs.3,134 per gram on the 4th.
• The next few weeks witnessed rates varying considerably after strong US political uncertainties resulted in a fluctuating greenback.
• Though the abrupt dismissal of Rex Tillerson the US Secretary of State led to an initial downtrend in the US dollar value, an increase in stock market returns over the next few days resulted in the US dollar index gaining against other apex currencies. The yellow metal prices were recorded holding at Rs.3,129 per gram on the 15th.
• The dollar, however, weakened after Trump imposed new import tariffs on Chinese imports during the next couple of weeks. With the bullion capitalising on possible trade war concerns between the two large world economies, gold prices in Punjab surged to Rs.3,171 per gram on the 26th.
• Trading concluded for the month with gold prices holding at Rs.3,134 per gram on the last day with the US dollar recovering from its previous rally of losses.
• Gold rates in Punjab rose by 0.67% during the month with strong global trends pushing demand higher for the yellow metal.

Gold Rate Trend in Punjab for October 2017 to December 2017 (per gram of 24 karat gold)

Factor	October	November	December
1st day	Rs.3,063 per gram	Rs.3,006 per gram	Rs.3,016 per gram
Last day	Rs.3,026 per gram	Rs.3,026 per gram	Rs.3,020 per gram
Highest price	Rs.3,072 per gram from 12 to 16 October	Rs.3,060 per gram from 18 to 20 November	Rs.3,036 per gram from 2 to 4 December
Lowest price	Rs.3,026 per gram on 27, 30 and 31 October	Rs.3,006 per gram on 1 November	Rs.2,910 per gram on 11 to 13 December
Trend	Decline	Incline	Incline
Change	-1.20%	0.66%	0.13%

Gold Rate Trend in Punjab for October 2017:

• Gold rate in Punjab were recorded at Rs.3,063 per gram when trading began for the month of October.
• This, however, dropped down to Rs.as low as Rs.3,028 per gram by the 6th as the equities market remained steady.
• Demand for the precious metal remained largely weak throughout this month due to a strong dollar. Even the busy Dhanteras season failed to stimulate positive changes in the city.
• Prices seemed to be on the decline towards the end of the month as local demand saw little signs of recuperating.
• Gold prices were, in fact, at their lowest this month between the 27th and the 31st when the metal traded at Rs.3,026 per gram.
• A poor domestic demand led to gold price trends falling by 1.20% for this month.

Gold Rate Trend in Punjab for November 2017:

• Gold prices had dropped to Rs.3,006 per gram when trading began for the month of November, which was the lowest rate recorded the entire month.
• But, with positive global cues gold rates in Punjab seemed to increase over the subsequent days hitting the Rs.3,045 per gram mark by the 10th of the month.
• As the US dollar remained weak and as local demand surged, gold rate in Punjab reached the Rs.3,060 per gram margin on 18th November.
• This also happened to be the highest rate for the month, made possible by a failing US dollar and an increased festive season demand.
• However, the greenback recuperated to push gold rate in Punjab down over the remaining days of the month.
• When the month ended, the yellow metal was priced at Rs.3,026 per gram and there was a 0.66% incline in price trends recorded over the course of the month.

Gold Rate Trend in Punjab for December 2017:

• December’s trading also yielded positive results in terms of sales figures.
• On the 1st of December, the yellow metal was priced at Rs.3,016 per gram, which then rose to Rs.3,036 per gram on the 2nd before continuing till the 4th of the month.
• This sharp increase was due to a weak US dollar performance compounded by some poor policies from US president Donald Trump.
• Gold prices underwent a lot of fluctuations over the course of the month before consolidating to end at Rs.3,020 per gram.

Gold Rate Trend in Punjab for July 2017 to September 2017 (per gram of 24 karat gold)

Factor	July	August	September
1st day	Rs.2,992 per gram	Rs.2,960 per gram	Rs.3,024 per gram
Last day	Rs.2,950 per gram	Rs.2,999 per gram	Rs.3,063 per gram
Highest price	Rs.2,992 per gram on 1 & 2 July	Rs.3,017 per gram on 28 August	Rs.3,130 per gram on 8  September
Lowest price	Rs.2,843 per gram on 12 & 13 July	Rs.2,930 per gram on 3 & 6 August	Rs.3,024 per gram on 1 September
Trend	Decline	Incline	Incline
Change	-1.40%	1.30%	1.27%

Gold Rate Trend in Punjab for July 2017:

• When trading began for this month, gold was priced at Rs.2,992 per gram.
• Gold rates in Punjab was at its highest this month during the first two days and fell considerably from the 3rd onwards.
• By the 12th, gold rates had dropped by more than Rs.150 per gram and the metal sold at Rs.2,843 per gram. This was also the lowest gold rate since demonetisation in November 2016.
• Gold rallied to end at Rs.2,950 per gram on the final day of this month.
• Prices fell by nearly 1.40% this month due to low demand and a strong US dollar.

Gold Rate Trend in Punjab for August 2017:

• Gold trading in Punjab for August was considerably better, thanks to improved local demand.
• When the month started, gold was priced at Rs.2,960 per gram. A strong US economy pushed gold rates down to Rs.2,930 per gram on the 3rd.
• Rates bounced back towards the end of the month as local investors decided to push the GST woes behind and invest in the precious metal.
• Gold rates climbed considerably towards the end of the month as the US economy faced some hardships in the aftermath of Hurricane Harry and the escalating issues between North Korea and the US.
• On the final day of the month, gold was seen trading at Rs.2,999 per gram.
• Gold rates improved by 1.30% this month, thanks to a solidifying investors sentiment in the local market.

Gold Rate Trend in Punjab for September 2017:

• The month of September saw gold rates remain in the positive for most of the month.
• On the 1st, when trading opened, gold was priced at Rs.3,024 per gram. Gold prices would see better days as the conflict between the US and North Korea was hitting new lows.
• When news about North Korea’s nuclear test hit the stands, the US dollar rates plummeted, giving rise to increased safe-haven investments.
• Gold was trading at its highest for this month on the 8th when the metal was trading at Rs.3,130 per gram.
• However, as the US economy improved amid positive data, gold rates began to tail off during the third and fourth week of this month.
• After remaining largely stable, gold trading saw a sudden burst towards the last few days of the month, as local jewellers were stocking up to meet festive demand.
• When the month ended, gold was seen trading at Rs.3,063 per gram.
• Gold price trends improved by 1.27%, thanks to a strong local trend and a weak US dollar.

Gold Rate Trend in Punjab for April 2017 to June 2017 (per gram of 24 karat gold)

Factor	April	May	June
1st day	Rs.2,991 per gram	Rs.3,011 per gram	Rs.3,030 per gram
Last day	Rs.3,011 per gram	Rs.2,992 per gram	Rs.3,012 per gram
Highest price	Rs.3,068 per gram on 15 April and 16 April	Rs.3,011 per gram on 1 May and 2 May	Rs.3,057 per gram on 7 June
Lowest price	Rs.2,983 per gram from 8 April to 10 April	Rs.2,918 per gram from 11 May to 15 May	Rs.2,972 per gram on 27 June
Trend	Incline	Decline	Decline
Change	0.66%	-0.63%	-0.59%

Gold rate trend in Punjab for April 2017

• Gold opened the month trading at Rs.2,991 per gram on 1 April, with the prices rising to Rs.3,003 per gram from 4-7 April due to a momentary rise in demand.
• Gold price in Punjab fluctuated due to poor local demand as gold traded at Rs.2,983 per gram on 9 April but rose to trade at Rs.3,036 per gram on 12 April following an increase in overseas demand.
• Stable demand and a volatile U.S. dollar rate led to a surge in demand for gold, with prices reaching Rs.3,068 per gram on 15 & 16 April before price stabilised at Rs.3,057 per gram from 17-21 April.
• The continued scrutiny of the Trump administration due to allegations of Russian interference in the U.S. election led to markets falling, as gold traded at Rs.3,041 per gram on 24 & 25 April.
• Demand dropped as the month ended due to a late rally by markets due to higher dollar trading, as gold closed at Rs.3,011 per gram on 30 April.

Gold rate trend in Punjab for May 2017

• The price of gold in Punjab fluctuated in May as markets were high due to the impending French presidential elections.
• Gold traded at Rs.3,011 per gram on 1 May before falling to Rs.2,942 per gram on 8 & 9 May.
• The victory of Emmanuel Macron in the French presidential election led to the U.S. dollar and global markets rising, as gold tumbled to Rs.2,918 per gram from 11-15 May.
• Prices rose as overseas demand, especially from Asian countries rose following a momentary dip in the dollar rate as the yellow metal traded at Rs.2,939 per gram on 17 May.
• Gold rate in Punjab jumped to Rs.2,991 per gram on 18 May before settling at Rs.2,977 per gram from 20-25 May.
• Local demand from jewellers increased due to the low dollar rate as prices rose to Rs.2,992 per gram from 26-31 May.

Gold rate trend in Punjab for June 2017

• While gold traded poorly as the month began, demand rose after market turbulence resulted in investors increasing intake of safe-haven assets like gold.
• Gold traded at Rs.3,012 per gram on 1 June and rose to Rs.3,057 per gram on 7 June as the dollar continued to be low due to poor investor sentiment.
• Gold price in Punjab fell to Rs.3,007 per gram from 9-15 June as markets rose following positive U.S. jobs market data, which resulted in a decrease in demand from overseas consumers.
• Gold dropped to Rs.2,982 per gram from 17-22 June in spite of a low dollar rate as industrial demand was muted ahead of an announcement by the U.S Fed Reserve on monetary policy.
• Demand fluctuated for the remainder of the month, rising to Rs.3,002 per gram on 26 June before prices fell to Rs.2,992 per gram on 30 June.

Gold Rate Trend in Punjab for January 2017 to March 2017 (per gram of 24 karat gold)

Factor	January	February	March
1st day	Rs.2,844 per gram	Rs.2,978 per gram	Rs.3,009 per gram
Last day	Rs.2,958 per gram	Rs.3,020 per gram	Rs.2,991 per gram
Highest price	Rs.2,979 per gram on 24th January	Rs.3,031 per gram from 25th February to	Rs.3,009 per gram on the 1st and 2nd of March
Lowest price	Rs.2,844 per gram from 1st January to 3rd February	Rs.2,957 per gram from 4th February to 6th February	Rs.2,950 per gram on 15th March
Trend	Incline	Incline	Decline
Change	4%	1.41%	-0.59%

Gold Rate Trend for Punjab in January 2017

• On the 1st day of January, gold in Punjab opened at Rs.2,844 per gram and was stable at this rate until the 3rd of the month.
• Due to positive market cues, the rate of gold went up marginally to trade at Rs.2,855 per gram before rising even further to trade at Rs.2,866 per gram from the 5th of January to the 9th.
• Thanks to an increase in the demand for this metal, as the third week of January progressed, the rate of gold continued to rise with marginal fluctuations.
• On the 24th of January, gold traded at Rs.2,979 per gram which was the highest at which gold traded at for the month.
• At the end of the month, gold was priced at Rs.2,958 per gram, recording a rise of 4% in the rate of gold.

Gold Rate Trend for Punjab in February 2017

• Gold traded at Rs.2,978 per gram on the 1st of February and was steady at this rate until the 3rd of February.
• However, on the 4th of February, the rate of gold reduced due to a rise in the value of the U.S.Dollar trading at Rs.2,957 per gram.
• This rate was maintained until the 6th of February post which the rate of gold increased again.
• Due to heavy demand from jewellers in domestic markets, the rate of gold shot up to Rs.3,009 per gram on the 8th of February and stayed at this rate until the 10th of February before declining again.
• The rate of gold was steady at Rs.2,999 per gram from the 18th of February to the 24th of February due to steady demand.
• Gold closed the month of February in Punjab by trading at Rs.3,020 per gram recording an incline of 1.41% in the rate of gold.

Gold Rate Trend for Punjab in March 2017

• Gold traded at Rs.3,009 per gram on the 1st of March and stayed at this rate until the 2nd as well
• However, the price of gold reduced the next day to trade at Rs.2,990 per gram and stayed steady at this rate until the 6th before reducing again.
• Due to the impact of the Dutch elections as well as the U.S. Fed’s decision regarding the rate of interest, the price of gold plunged to a monthly low of Rs.2,950 per gram on the 15th of March.
• The rate of gold fluctuated between Rs.3,003 per gram and Rs.2,993 per gram between the 22nd of March and 26th of March, before steadily trading at Rs.3,003 per gram from the 27th of March to the 30th of March.
• As the month of March ended, gold traded at Rs.2,991 per gram recording a decline of 0.59% in the price of gold.

Details of Gold Price in Punjab (22 Karat & 24 Karat) - Till August 2015

The gold rates in Punjab vary based on their karats as following:

22 Karat Gold: 22-karat gold is considered to be lesser in purity and hence the rates are also lower. but the trend of rise of prices remain similar. Rate of gold in Punjab was around Rs.2,341 a gram in the beginning of August 2015. Since August 2014, prices of the yellow metal have continued to fall for the most part of the year, and so the lowest levels in July, when gold was performing poorly in the global markets, down to a 5 and half year low.

24 Karat Gold: Punjab gold was trading at Rs. 2,649 a gram in the beginning of April, while it fell drastically by August beginning to Rs. 2,540. Under the given circumstances of falling price of gold around the world gold rates in Punjab, to followed the lowering of rate and has been dropping consistently for the last one year. 24 karat gold is said to have the highest purity of the metal (999 purity) and hence the prices are comparatively much higher than 22 karat gold.

Gold Investment Avenues in Punjab

If you want to buy in gold, in Punjab, you can buy it in the form of bullions, coins, ingots and in the form of jewellery which is prevalent in the rural areas as well. Punjab has a very high proportion of gold consumers and owning gold is taken as a form of wealth, with the urban and rural areas prospering with high percentage of rural population being wealthy to invest and buy gold. Gold trends in Punjab can be summarized as:

Over-the-counter: You can buy or sell gold in retail in the form of coins, bullions and jewellery in Punjab, with prosperous Amritsar, Patiala and Ludhiana acting as markets in the state. Gold bullions are also available but at international rates. You can find them mostly in banks and large private dealers such as AAR GOLD, Pushpak Bullions and Pentagold etc.The maximum amount of gold gets bought in jewellery shops that include national renowned jewellers such as Joyalukkas and Tanishq, to local gold hot shots such as PC Jewellers, Punjab Jewellers and Blue Gems and Jewellers. Prices of gold in banks are generally higher as you get the assurance of the purity. Jewelry is also bought during the Dhanteras festivity in the state.

Market trade: As an asset investment you can buy gold futures, spot contracts,as well as Exchange Traded Funds or ETFs. ETFs can be bought and sold online from Bombay Stock Exchanges (BSE). Gold futures can be bought early and sold later, saving you from market instability of gold rates. However, spot contracts ares sold and bought quickly and hold rush to gold market risks.

Also Check Gold Prices in the Cities of Punjab

Gold Rate in Chandigarh

Gold Rate in Ludhiana

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