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 April 2017 to June 2017 (per gram of 24 karat gold)

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)

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.

Gold Rate Trend in Punjab from October to December 2016 (rates per gram for 24 karat gold)

Factor	October	November	December
1st day	Rs.3,205 per gram	Rs.3,099 per gram	Rs.2,893 per gram
Last day	Rs.3,099 per gram	Rs.2,941 per gram	Rs.2,844 per gram
Highest price	Rs.3,205 per gram from 1st to 4th	Rs.3,213 per gram on 5th and 6th	Rs.2,893 per gram on 1st and 2nd
Lowest price	Rs.3,088 per gram from 8th to 25th	Rs.2,929 per gram from 25th to 27th	Rs.2,800 per gram from 23rd to 28th
Trend	Decline	Decline	Decline
Change	-3.30%	-5.09%	-1.69%

Gold Rate Trend in Punjab for October 2016:

• In Punjab, gold began trading at Rs.3,205 per gram when October began but dropped by nearly Rs.80 in less than 4 days to hit Rs.3,119 per gram on 5th.
• Prices further fell on 6th to reach Rs.3,088 per gram before continuing at the same rate for much of the month, till 25th.
• On 26th, prices increased by Rs.11 to hit Rs.3,099 per gram and remained there till the end of the month on 31st.
• Gold rate trend in Punjab, despite remaining largely unchanged, saw a decline of 3.30%.

Gold Rate Trend in Punjab for November 2016:

• Like all the other states in India, November was one of the worst periods for gold in India.
• Although, the entire world was riding on a high demand due to Donald Trump winning the US elections, India’s gold industry was nearly brought down to its knees due to demonetisation.
• The first week of November saw gold prices spike on a daily basis but began falling as the latter half of the month approached.
• Having started trading at Rs.3,099 per gram on 1st, gold prices increased significantly to reach Rs.3,211 per gram on 9th.
• However, price dropped just as significantly as it rose on 11th to end the day at Rs.3,071 per gram.
• By the time 19th approached, prices went as low as Rs.2,994 per gram and went further down to record the lowest monthly price of Rs.2,929 per gram on 26th.
• The month ended with a respite as gold rates gained slightly to end at Rs.2,941 per gram.
• November saw a change of -5.09% with regards to gold rate in Punjab.

Gold Rate Trend in Punjab for December 2016:

• The impact of demonetisation was still there to be seen in December as the nation as a whole had to endure a cash crunch.
• December began with gold trading at Rs.2,893 per gram and went through a few fluctuations to reach Rs.2,892 per gram on 9th.
• When trading began on 10th, gold prices had slumped to Rs.2,864 per gram before continuing at this rate till the 14th.
• Rates fell again on the 15th as it Rs.2,822 per gram and remained the same till the closing hours of 22nd.
• On 23rd, however, gold rates reached their lowest for the month at Rs.2,800 per gram but picked up during the last three days of the month as new year was approaching.
• The month ended with gold trading at Rs.2,844 per gram.
• Of all three months in Q4, December witnessed the lowest change, of -1.84%, with respect to gold price trends.

Gold Rate Trend in Punjab for July 2016 to September 2016 (per gram of 24 karat gold)

Factor	July	August	September
1st day	Rs.3,167 per gram	Rs.3,219 per gram	Rs.3,184 per gram
Last day	Rs.3,219 per gram	Rs.3,205 per gram	Rs.3,217 per gram
Highest price	Rs.3,227 per gram on 7th and 8th July	Rs.3,248 per gram on 4th and 10th August	Rs.3,228 per gram from 7th-12th September
Lowest price	Rs.3,163 per gram on 22nd July	Rs.3,205 per gram on 31st August	Rs.3,184 per gram on 1st and 2nd September
Trend	Increase in price	Decrease in price	Increase in price
Change	+1.64%	-0.43%	+1.03%

Gold Rate Trend in Punjab for July 2016

• The price of gold was Rs.3,167 per gram on 1st July as domestic demand was high, with prices rising to Rs.3,203 per gram on 4th July.
• Prices continued to rise as positive global trends and market uncertainty kept prices high, with gold trading at Rs.3,227 per gram on 7th July.
• Slight fluctuations in the price led to gold falling to Rs.3,199 per gram from 13th-21st July as demand dropped domestically.
• Prices continued to fall as the markets recovered, resulting in gold falling to Rs.3,163 per gram on 22nd July.
• Prices rose marginally towards the end of the month, with gold trading at Rs.3,219 per gram on 31st July, an overall increase of 1.64% from the rate at the start of the month.

Gold Rate Trend in Punjab for August 2016

• Gold was priced at Rs.3,219 per gram on 1st August, with the price rising to Rs.3,248 per gram on 4th August on increased demand due to a sudden fall in markets.
• Prices stabilised, with gold trading at Rs.3,206 per gram on 8th August before the price rose as domestic demand increased.
• Cues from international trends and poor market results led to prices rising to Rs.3,236 per gram on 15th August before rising to Rs.3,238 per gram by the end of the week.
• Market stability led to prices falling, with gold trading at Rs.3,218 and closing the month at Rs.3,205 per gram, a drop of almost 0.5% from the rate at the beginning of the month.

Gold Rate Trend in Punjab for September 2016

• Gold traded at Rs.3,184 per gram on 1st September on the back of strong demand from jewellers due to the festive season.
• Prices continued to rise as demand peaked, reaching Rs.3,228 per gram on 7th September as global markets suffered losses and the dollar weakened against other currencies.
• Sustained demand kept prices high for the week beginning 12th September, with the price dipping towards the end of the week due to reduced demand.
• As global demand rose, domestic prices also saw a rise, with gold trading at Rs.3,227 per gram on 23rd September, but dipped to Rs.3,207 per gram on 30th September.

Gold Rate Trend in Punjab for April 2016 to June 2016 (per gram of 24 karat gold)

Factor	April	May	June
1st day	Rs.2,943 per gram	Rs.3,119 per gram	Rs.2,960 per gram
Last day	Rs.3,119 per gram	Rs.2,960 per gram on 30th of May	Rs.3,167 per gram on the 30th of June
Highest price	Rs.3,119 per gram on 1st of May	Rs.3,120 per gram on 9th of May	Rs.3,182 per gram on the 28th and 29th of June
Lowest price	Rs.2,933 per gram on 5 of May	Rs.2,960 per gram on the 30th of May	Rs.2,950 per gram on 2nd of June
Trend	Rising	Decline	Rising
Change	+5.98%	-5.09%	+6.99%

Gold Rate Trend in Punjab in April 2016

• Gold continued to trade at Rs.2,943 per gram for the first three days of April
• Gold witnessed a lot of fluctuation in the month of April with changes in rate every week.

Gold Rate Trend in Punjab in May 2016

• There were no major changes in demand and the rate remained unchanged at Rs.3,119 per gram for the first three days of May.
• Gold witnessed a decline at Rs.3,048 per gram on 24th of May owing to low demand.
• Rising dollar and expectations of a rate hike by the Federal Reserve further led to the decline of gold price to Rs.2,960 per gram on 30th of May.

Gold Rate Trend in Punjab in June 2016

• Gold traded at Rs.2,960 per gram on the 1st of June.
• Prices steadily increased over the week as gold closed the month at Rs.3,167 per gram on the 30th of June.

Gold Rate Trend in Punjab for January 2016 to March 2016 (per gram of 24 karat gold)

Factor	January	February	March
1st day	Rs.2,585 per gram	Rs.2,756 per gram	Rs.3,030 per gram
Last day	Rs.2,756 per gram	Rs.3,037 per gram	Rs.2.948 per gram
Highest price	Rs.2,767 per gram on January 27th	Rs.3049 per gram on 26th of February	Rs.3,030 per gram from March 1st to 14th
Lowest price	Rs.2,580 per gram from January 2nd to 4th	Rs.2,756 per gram on February 1st	Rs.2,948 per gram on March 31st
Trend	Rising	Rising	Decline
Change	+6.61%	+10.19%	-2.70

Gold Rate Trend in Punjab in January 2016

• Gold traded at Rs.2,585 per gram on the 1st of January and remained unchanged for the next four days
• Gold hit the highest rate for January on 27th at Rs.2,767 per gram.
• Gold prices further witnessed a decline as it stood at Rs.2,756 per gram at the end of the month.

Gold Rate Trend in Punjab in February 2016

• Gold remained unchanged at Rs.2,756 per gram on 1st of February as a result of no changes in demand.
• Gold climbed up to Rs.2,788 per gram on the 3rd of February.
• Gold price increased to Rs.3,008 per gram on the 12th of February and went down by Rs.97 at Rs.2,917 per gram on 16th of February.
• Gold prices further shot up as it hit Rs.3,049 per gram on 26th of February.

Gold Rate Trend in Punjab in March 2016

• Gold traded at Rs.3,030 per gram for the first two weeks of March.
• Gold prices fell down to Rs.2,940 per gram on 15th of March as a result of low demand.
• Gold rose again at Rs.2,998 per gram on 18th of March.
• Gold witnessed a steady downfall in the last two weeks of March and stood at Rs.2,948 per gram at the end of March.

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

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