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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)
|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|
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)
|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|
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)
|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|
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)
|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|
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)
|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|
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)
|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|
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)
|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|
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.
|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|
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.
|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|
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.
|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|
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.
|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|
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
|Gold Rate in Chandigarh||Gold Rate in Ludhiana|
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