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Gold Rate In Raipur
Raipur, the capital of the central Indian state of Chhattisgarh, is a historic city which has been an intrinsic part of Indian history through the ages. The city has a large population of over a million residents and is among the top consumers of gold in the state. Gold rate in Raipur is a good benchmark for analysing the gold rates in Chhattisgarh. The city has a number of jewellers and dealers catering to the rising demand for gold.
Gold is primarily consumed in the form of jewelleries and ornaments in Raipur. The city has a good demand for physical gold preferred by both the urban and rural populace. Gold demand is there in the city and gold rates are affected by these demands.
Trend of Gold Rate in Raipur for October 2016 (rates per gram for 24karat gold)
|1st Day||Rs.3,152 per gram|
|Last Day||Rs.3,067 per gram|
|Highest Price||Rs.3,152 per gram on 1st|
|Lowest Price||Rs.3,021 per gram on 15th and 16th October|
October 2016 – Week 1 and 2 (1st to 9th)
- Gold prices jumped on the slide down as market trends were unfavourable.
- Gold traded at Rs.3,152 per gram on 1st and 2nd October.
- Demand was dull in the domestic market.
- The U.S. Federal Reserve was confident of the interest rate hike soon which resulted in investors moving away to the sidelines.
- By the end of the week, gold was trading at Rs.3,026 per gram.
October 2016 – Week 3 (10th to 16th)
- At the start of the week, gold traded at Rs.3,034 per gram.
- Festive shopping started early this year as gold rates were low.
- By 13th October, gold rates touched Rs.3,040 per gram, the highest for this week.
- Gold rates fell again as prospects of the Fed rate hike grew strong.
- By the end of the week, gold rates dropped to Rs.3,021 per gram.
October 2016 – Week 4 (17th to 23rd)
- The lowest price for this month was recorded on 17th October with gold trading at Rs.3,018 per gram.
- Demand picked up this week on account of the upcoming wedding season.
- Global market trends firmed up and gold prices rose to Rs.3,046 per gram on 22nd and 23rd October.
October 2016 – Week 5 (24th to 31st)
- On 24th October, gold traded at Rs.3,040 per gram, the lowest price for this week.
- The dollar was weak which resulted in a favourable market for gold.
- With the festive season in full swing, domestic demand was on the rise.
- Gold prices increased to Rs.3,067 from 29th to 31st October which was the highest price for this week.
- There was a decline of 2.69% this week.
|1st Day||Rs.3,132 per gram|
|Last Day||Rs.3,169 per gram|
|Highest Price||Rs.3,195 on 8th September|
|Lowest Price||Rs.3,132 on 1st September|
September '16 - Week 1 (1st to 4th)
- Gold traded at Rs.3,132 per gram at the start of this week. This was the lowest price recorded for this week.
- Prices started to rise as U.S. economic data wasn’t strong enough to vet an interest rate hike by the U.S. Federal Reserve.8
- The demand for the yellow metal surged as its safe-haven appeal shone was again.
- Gold prices climbed to Rs.3,150 per gram by the end of the week.
September '16 - Week 2 (5th to 11th)
- Demand for gold soared this week in the domestic and global market.
- Gold reached its highest price for the month on 8th September, trading at Rs.3,195 per gram.
- Demand dropped again on the back of hawkish statements from the U.S. Federal Reserve about the possibility of a rate hike this month.
- Gold traded at Rs.3,181 per gram on 11th September.
September '16 - Week 3 (12th to 18th)
- As the uncertainty of a Fed rate hike loomed over the market, sentiments turned bearish.
- Gold prices started to drop this week.
- Gold traded at Rs.3,171 per gram on 12th September.
- As demand was slow, gold dropped to Rs.3,146 per gram on 18th September.
September '16 - Week 4 (19th to 25th)
- Gold traded at Rs. 3,160 per gram on 19th September.
- The U.S. Federal Reserve put the rate hike off till December as the presidential elections of the U.S. draw nearer.
- The market outlook was bullish and gold prices began to climb again.
- Gold had gained Rs.26 by the end of the week and traded at Rs.3,186 per gram on 25th September.
September '16 - Week 5 (26th to 30th)
- Gold traded at Rs.3,185 per gram on 26th September.
- The dollar grew strong this week turning the market sentiments bearish.
- Muted demand in the domestic market led to gold prices dropping.
- The week closed with gold trading at Rs.3,169 per gram on 30th September.
|First Day||Rs.3,215 per gram|
|Last Day||Rs.3,148 per gram|
|Highest Price||Rs.3,224 per gram on 03rd August|
|Lowest Price||Rs.3,148 per gram on 31st August.|
August '16 - Weeks 1 (1st to 7th)
- 24K gold traded at Rs.3,215 per gram on the 1st August.
- Due to high demand from the domestic market, gold prices increased and hit Rs.3,224 per gram on 03rd August which is the highest gold rate recorded for the month.
- Gold rate drifted to Rs.3,200 per gram on the 04th of August and continued the declining trend till the end of the week due as U.S Federal Reserve was positive about a rate hike this year.
- Gold closed at Rs.3,171 per gram.
August '16 - Week 2 (8th to 14th)
- The week opened with a slight decrease in gold rates as gold gold traded at Rs.3,168 per gram on 08th of August.
- Investors shrugged Fed rate hike and increased their gold intake on 10th of August when gold rates increased and traded at Rs.3,197 per gram.
- Gold rate declined gradually from 11th to 14th of August as U.S economy grew stronger.
- On the last day of the week, gold traded at Rs.3,181 per gram.
August '16 - Week 3 (15th to 21st)
- Gold rate was steady on the 15th of August and continued to trade at Rs.3,181 per gram.
- Demand for gold poured in from the domestic market on account of the festive season which caused gold rates to increase on 16th of August when the yellow metal traded at Rs.3,196 per gram.
- The highest gold rate of the week was recorded on 18th of August when gold was brought at Rs.3,207 per gram.
- Gold prices slightly decreased on the 19th when gold traded at Rs.3,200 per gram. Gold remained steady till the end of the week.
August '16 - Week 4 (22nd to 28th)
- Gold rate fell on the first day of the week and traded at Rs.3,182 per gram.
- A slight increase on the 23rd of August can be ignored as gold continued to fall throughout the week.
- Gold rate succumbed to firm dollar rate and strong U.S economy.
- Gold prices drifted to Rs.3,165 per gram on 25th of August before moving to trade at Rs.3,161 on 26th August and finally settled at Rs.3,164 per gram on 28th of August.
August '16 - Week 5 (29th to 31st)
- On overall trend of declining prices was seen this week.
- Gold opened at Rs.3,153 per gram.
- Domestic traders kept the demand for gold high in India on account of the upcoming festivals which caused gold rates to increase on the 30th of August when gold traded at Rs.3,164 per gram.
- Gold prices fell and traded at Rs.3,148 per gram on the 31st of August which is also the lowest gold rate recorded for this month.
- Fed rate hint expectation, positive U.S employment data and muted demand from domestic gold spots and coin makers contributed to the fall in gold rates this week.
|1st July Rate||Rs.3,127 per gram|
|31st July Rate||Rs.3,214 per gram|
|Highest Rate in July||Rs.3,214 per gram on 30th and 31st July|
|Lowest Rate in July||Rs.3,115 per gram on 21st July|
|Overall Performance||Increase in price|
|% Change||+2.78% increase|
July'16 - Week 1 (1st to 3rd)
- As the markets continued to fluctuate due to the uncertainty after Brexit, gold prices were on the rise overseas.
- Domestic demand was weak, resulting in prices being more or less stable.
- Gold retailed at Rs.3,124 per gram at the end of the week.
July'16 - Week 2 (4th to 10th)
- Prices rose as equities were unstable and the Dollar weakened on prolonged volatility.
- Asian stocks began to recover but strong demand domestically offset the overseas trend of lower demand.
- Gold traded at Rs.3,162 per gram at the end of the week.
July'16 - Week 3 (11th to 17th)
- Markets slowly began to recover, leading to reduced demand for gold.
- Prices dipped as the week progressed, with domestic demand also flagging.
- Gold retailed at Rs.3,146 per gram as the week ended, a decrease of Rs.25 from the price at the start of the week.
July '16 - Week 4 (18th to 24th)
- The slide in price continued as markets strengthened, with the Dollar gaining on other currencies.
- Gold exports fell as price rose, with gold hitting its monthly low of Rs.3,115 per gram.
- Prices rose marginally to close at Rs.3,130 per gram by the end of the week.
July‘16 - Week 5 (25th to 31st)
- Prices were stable as demand was low, but prices rose as the week ended.
- Data showing the U.S. economic growth stagnating led to markets and the Dollar plunging.
- Gold prices picked up as the Dollar fell, with gold retailing for Rs.3,214 per gram at the end of the month.
|1st June rate||Rs.2,918|
|30th June rate||Rs.3,103|
|Highest rate in June||Rs.3,180 per gram on 27th June|
|Lowest rate in June||Rs.2,911 per gram on 3rd June|
Jun'16 - Week 1 (1st to 4th)
- There were minor fluctuations in the rate of gold throughout the first week of june.
- Gold opened at Rs.2,918 per gram on the 1st.
- There was a minor increase in gold rate the next day but decreased again slightly after that.
- On the last day of the week, gold rate was Rs.2,974 per gram which was the highest for the week.
Jun'16 - Week 2 (5th to 11th)
- Continuing from the last day of the previous week, gold rate was Rs.2,974 per gram on the 5th after which prices slightly declined again.
- A rise in gold rate was noted on the 8th at Rs.2,973 per gram being the rate of gold.
- There was an increase noted in the price of gold thereafter with prices crossing Rs.3,000.
- Week closed with rate of gold being Rs.3,039 per gram on the 11th.
Jun'16 - Week 3 (12th to 18th)
- There were minor variations noted in the price of gold during the third week of the month.
- Gold rate on the 12th was Rs.3,039 per gram which continued increasing steadily.
- The highest rate noted in the week was on the 16th with rate of gold being Rs.3,110 per gram.
- Week closed with Rs.3,087 per gram being the rate of gold.
Jun'16 - Week 4 (19th to 25th)
- The 4th week opened with gold being priced at Rs..3,087 per gram.
- There was a minor decrease noted in the price of gold wherein rates fell to Rs.3,070 per gram for the next two days.
- Price of gold dropped even further on the 23rd wherein gold rate was Rs.3,023 per gram.
- Gold rate rose significantly again, with Rs.3,165 per gram being the rate of gold on the last day of the week.
Jun'16 - Week 5 (26th to 30th)
- The highest rate of gold for the month was on the 27th with price of gold being Rs.3,180 per gram.
- Gold rate declined significantly after this to hover between Rs.3,113 per gram to Rs.3,122 per gram until the 29th.
- On the last day of the month, gold rate was Rs.3,103 per gram.
|1st May rate||Rs.3,069|
|31st May rate||Rs.2,916|
|Highest rate in May||Rs.3,073 on the 7th and 8th of May|
|Lowest rate in May||Rs.2,900 on the 30th of May|
|Overall performance||Loss / Negative|
May'16 - Week 1 (1st to 7th)
- Prices were recorded at Rs.3,069 on the 1st day of the month and Rs.3,073 on the 7th.
- Prices fell by Re.1 on the 2nd day of the month and remained unchanged on the 3rd before a loss of Rs.20 on the 4th day of trading saw prices plunge to Rs.3,048.
- Prices remained at Rs.3,048 on the 5th of May, after which a decline of Rs.3 on the 6th was followed by an increase of Rs.28, thus closing the week at Rs.3,073 per gram.
- Between the first and last day of the first week of May, prices recorded an increase of Rs.4.
May ‘16 - Week 2 (8th to 14th)
- Gold rates remained unchanged on the first of the second week and prices were recorded at Rs.3,073 on the 8th of May.
- A decline by Rs.21 on the second day of the week saw prices fall to Rs.3,052.
- A further decline by Rs.30 on the third day of the week saw prices plunge to Rs.3,022, after which an increase of Rs.18 elevated prices to Rs.3,040.
- A loss of Rs.9 on the 5th saw prices decline to Rs.3,031, followed by subsequent increases over the next two days, resulting in gold closing the week at Rs.3,051 per gram.
- The overall decline in prices when comparing the first day of the week with the last was Rs.22.
May ‘16 - Week 3 (15th to 21st)
- Gold prices remained unchanged on the first and second day of the third week of May at Rs.3,051.
- Prices then increased by Rs.2 to Rs.3,053 on the 17th after which a loss of Rs.5 on the 18th saw prices fall to Rs.3,048.
- Rates fell consistently over the next three days and the precious metal closed the week at Rs.3,015 per gram.
- Gold prices declined by Rs.36 at the end of the week in comparison with the first day of the week.
May ‘16 - Week 4 (22nd to 31st)
- Gold prices were recorded at Rs.3,015 on the 22nd of May and increased by Rs.3 on the 23rd after which they fell consistently until the 30th of the month.
- The lowest price in the month of May was recorded on the 30th when prices dropped to Rs.2,900.
- Prices increased by Rs.16 on the last day of the month to close at Rs.2,916.
- The overall decline in prices between the first and last day of the month was Rs.153.
|1st April rate||Rs 2,894|
|30th April rate||Rs 3,069|
|Highest rate in April||Rs 3,069 on 30th|
|Lowest rate in April||Rs 2,876 on 4th|
|% Change||+ 6.05%|
Apr ‘16 - Week 1 (1st to 3rd)
- Global cues resulted in a decline in demand for gold, resulting in a minor drop in prices.
- Gold traded at Rs 2,894 on 1st, before falling to Rs 2,877.
- An overall decline was witnessed with prices to progress beyond Rs 2,877.
Apr ‘16 - Week 2 (4th to 10th)
- Strong international trends resulted in increased demand for gold, pushing up rates.
- An overall increase in price was observed over the week.
- Gold traded at Rs 2,876 on 4th and Rs 2,911 on 6th.
- Prices continued on an upward rise, ending the week on Rs 2,944.
Apr ‘16 - Week 3 (11th to 17th)
- This was a mixed week for gold, as an initial strong performance was countered by the US Dollar, resulting in a drop in demand.
- Gold traded at Rs 2,958 on 11th and Rs 2,963 on 12th.
- Rated started falling over the next few days, as prices fell to Rs 2,934 on 14th.
- The week ended with gold trading at Rs 2,957, a marginal decline from 11th.
Apr ‘16 - Week 4 (18th to 24th)
- Rate variations continued into the fourth week, with prices ranging between Rs 2,958 and Rs 2,960.
- Gold traded at Rs 2,958 on 18th, before falling to Rs 2,951.
- Rates picked up on 20th, gaining over Rs 30.
- Fluctuations resulted in gold ending the week at Rs 2,960, a marginal gain of Rs 2.
Apr ‘16 - Week 5 (25th to 30th)
- A weak US dollar helped rates go up, with the best performance for the month observed in this week.
- Gold traded at Rs 2,965 on 25th, steadily climbing to Rs 2,979 on 28th.
- Prices jumped by over Rs 50, with gold trading at Rs 3,042 on 29th.
- The month ended with gold trading at Rs 3,069, a gain of 6% witnessed overall.
|1st March rate||Rs 2,994|
|31st March rate||Rs 2,883|
|Highest rate in March||Rs 3,030 on 2nd|
|Lowest rate in March||Rs 2,871 on 28th|
Mar'16 - Week 1 (1st to 6th)
- Jewellers in Raipur joined nationwide protests against a decision to increase duties on gold.
- Gold rates saw an increase, followed by a drop in the week.
- Prices went up to a high of Rs 3,030 on 2nd before dropping to Rs 2,976 on 3rd.
- Gold rates stayed constant at Rs 2,976 till 6th.
Mar'16 - Week 2 (7th to 13th)
- Protests continued into the second week as well, impacting gold trade.
- Gold rates saw an appreciation during the week.
- Prices increased to Rs 2,980 on 7th and then to Rs 2,991 on 8th.
- Rates remained constant at Rs 2,991 through the week.
Mar'16 - Week 3 (14th to 20th)
- Jewellers reopened their stores for business during the week.
- An overall deprecation in gold rates was witnessed.
- Prices fell to Rs 2,950 on 14th, dipping to a low of Rs 2,929 during the week.
- Rates picked up, reaching Rs 2,964 on 18th, before dropping to Rs 2,940.
Mar'16 - Week 4 (21st to 27th)
- Gold rates saw an overall decline in the week.
- Rates fell to Rs 2,924 on 21st and continued on a downward slide.
- Prices fell below the Rs 2,900 mark on 24th, trading at Rs 2,892.
- The week ended with gold trading at Rs 2,896.
Mar'16 - Week 5 (28th to 31st)
- Gold rates changed on a daily basis in the last week.
- Prices fell to Rs 2,871 on 28th, before touching Rs 2,906 on 30th.
- Rates further fell to Rs 2,883 on 31st to end the month at a loss.
|1st February rate||Rs.2,714|
|29th February rate||Rs.2,964|
|Highest rate in February||Rs.2,987 on 26th|
|Lowest rate in February||Rs.2,714 on 1st|
Feb '16 - Week 1 (1st to 7th)
- Gold prices appreciated at the start of February.
- Rates were Rs.2,714 on 1st and Rs.2,823 on 7th.
- Gold posted profits on all days of the week, rising by a cumulative amount of Rs.109 over the first week.
Feb '16 - Week 2 (8th to 14th)
- Gold prices continued appreciation going into the second week.
- Prices were Rs.2,820 on 8th and Rs.2,934 on 14th.
- Gold appreciated to Rs.2,973 by 12th but depreciated to Rs.2,934 on 13th and 14th, clocking overall gains of Rs.114.
Feb '16 - Week 3 (15th to 21st)
- Gold was on its winning streak again during the 3rd week.
- Prices were Rs.2,906 on 15th and Rs.2,973 on 21st.
- Gold prices dropped to Rs.2,871 on 16th but rallied on all remaining days to touch Rs.2,973 by 21st.
Feb '16 - Week 4 (22nd to 29th)
- Gold prices were up again in the last days of the month.
- Prices were Rs.2,917 on 22nd and Rs.2,964 on 29th.
- Gold gained value till 26th to rise to Rs.2,987 before falling over the last three days to end at a respectable Rs.2,964 for the month.
Details of Gold Price in Raipur (22 Karat & 24 Karat) - Till September 2015
Gold rate in Raipur for the year 2015 (till September 30th) for 24 karat and 1st April to 1st October for 22 karat varieties are discussed below:
22 karat gold (price per gram): Gold rate in Raipur on 1st April was Rs.2,442. This increased in the next few weeks to reach Rs.2,583 as of 19th May. Prices started declining from then and there was a general fall in prices through June. July saw sustained losses in gold rates, which touched a low of Rs.2,287 by 31st July. Prices steeply climbed toward the fag end of August and touched Rs.2,541 on 25th of the month. September saw more or less stable rates as per month beginning and ending data, with gold priced at Rs.2,440 on 30th of the month.
24 karat gold (price per gram): Gold rate in Raipur at the start of the year was Rs.2,713 which increased to Rs.2,859 by 22nd January. This steep climb was followed by a sustained downward trend which took prices to Rs.2,617 on 18th March. Prices appreciated over the next 2 months and reached Rs.2,791 on 19th May. Rates saw volatility in the month of June, while July saw the largest drop in rates in more than 5 years. Gold rate on 31st July was Rs.2,520. Prices recovered some value in the next few days and touched Rs.2,723 on 25th August. Prices were volatile in September, however the month beginning and end rates were at almost the same level. Gold rate on 30th September was Rs.2,653.
Gold buying patterns in Raipur
Gold is sold in its physical form as well as a traded variety in Raipur.
Physical gold: Jewelleries and ornaments are quite popular among the residents of Raipur. The city is host to the branches of most of the major jewellers in India and has a well-established market that caters to the ever-increasing demand for gold. Apart from these, other popular forms include coins and bullions, with bullions being sold for higher quantities at cheaper rates as compared to other physical forms of gold.
Traded gold: The people of Raipur also invest in gold through the spot and futures contracts available at market rates. Gold bought at such platforms is usually delivered in a few days or on a specified date in the future.
- Also Check:Gold Rate in Chhattisgarh
Also Check Gold Price in NearBy Cities of Raipur
|Gold Rate in Ranchi||Gold Rate in Bhopal||Gold Rate In Bhilai|
|Gold Rate in Indore||Gold Rate in Nagpur||Gold Rate In Ratlam|
|Gold Rate In Jabalpur||Gold Rate In Jamshedpur|
Read more on Gold
- Why Investing In Gold Is A Golden Opportunity
- What Do the Markings on Gold Mean?
- Hallmark, KDM and 916 Varieties of Gold
- Gold Rates Trend in 2015
- Significance of Gold in Indian Culture
News About Gold rate in Raipur
Gold Growth is Stunted
Gold rates fell by a slight margin last week as investors cashed in their gains after the metal achieved its highest growth in the past 30 years. But fears of the investors have not been allayed as the US employment increased and naturally the Federal Reserve would deem it fit to increase the tax on the yellow metal.
Prices went up by 16 percent in March as people thought a tax hike wouldn’t be done after all. China and India have been more conservative about buying more gold due to the concerns that have been floating around since the last year. In addition to that, the gold tax imposed in India has made matters even more dire.
4th April 2016
Gold Rates Increase Yet Again
Since Wednesday, there has been an increase noted in the rates of gold. While in India the prices increased by INR 400 per troy ounce, they increased by 18 dollars in the international market.
Per troy ounce gold now has a price of INR 49550 and 10 grams of gold is right now at INR 42471.
31st March 2016
Gold to Fall Even More in the Near Future
Gold prices have been on a decline since the comments from US Federal Reserve officials. The comments apparently hinted that gold will have a lesser value as tax rates are hiked on the yellow metal for at least twice this year. That in turn has strengthened the dollar and made commercial gold more accessible to people who are fans of the yellow metal.
24 carat gold in Dubai retailed at 147.25 dirhams on Sunday while 22k, 21k and 18k variants of the metal were on the market at 138.50 dirhams, 132 dirhams and 113.25 dirhams respectively. Spot gold on Thursday had a 0.6 percent decline. Seeing the constant underperformance of the metal, more than half of the retails opine that gold still has its worse days ahead.
28th March 2016
Gold Futures Surge by 0.89%
Gold prices for April delivery went up by 0.89 percent at the Multi Commodity Exchange, boosted by the surges for spot gold and gold futures at COMEX.
Gold for June delivery is also higher by 0.84 percent at Rs. 29,478. Speculative trading had led to a decline in gold futures prices earlier in the day.
International spot gold prices rose by 0.67 percent to USD 1,252.04 per ounce, while April futures at COMEX traded higher by 0.80 percent at USD 1,254 per ounce.
The Federal Reserve’s move to increase rates next month is likely to bear negatively on the precious metal, analysts say.
23rd March 2016
Gold Prices on the Decline Again
Gold prices fell for the second session in a row on Monday. Gold for April delivery decreased by $10 (0.8 percent) to $1,244.20 an ounce on the Comex division of the New York Mercantile Exchange.
After touching 13-month high prices earlier in March, gold prices have fallen in six of the last seven trading sessions. In London, gold decreased by $14.40 (1.1 percent) to $1,252.10 an ounce.
Meanwhile, silver for May delivery gained 0.2 percent (3.6 cents) to $15.847 an ounce. Last week, the metal had climbed by 1.3 percent.
22nd March 2016
Industry demand of gold increases
With the price of gold increasing after almost 22 months, the listing of jewelry companies increased from 4% to 8%. The yellow metal traded at Rs 30,075 per 10 grams on Tuesday. This was recorded the highest since March 18, 2014 when it closed at Rs 30,205. With India being the world's biggest importer of gold, at an average of a 1,000 tonnes a year, the generic gold contract was priced as per the cueson commodity exchange. The Indian Government is also planning to substitute the 1% excise tax with higher import duty or increased value-added tax, as per industry demands.
9th March 2016
Jewellers nationwide strike reaches day 6
National Strike of All India Jewellers, was called in order to force the government to overturn the decision to charge 1% Excise Duty on manufacturing of Gold & Diamond. The Confederation of All India ( CAIT ) has supported the strike, they have said that levy of excise duty is not the only way or solution, talks between the Trade & the Government can find better solutions. The strike has costed the business of almost Rs. 6000 crore and revenue loss of Rs. 200 crore in the form of custom duties, and almost Rs.48 crores as VAT tax all over India.
8th March 2016
Dollar rises along with equities, forcing gold to drop
Earlier on Wednesday, the dollar strengthened and the equities markets also gained with the US data speculations being rekindled. The Federal Reserve may still have rate hikes this year. Owing to these reason gold dropped by 0.1% the price stood at $1,229.06 for an ounce. But, gold ETFs for April delivery stayed the same at $1,230.80 for an ounce. The price of bullion increased this year already by more than 15%, and proving to a safe haven for investors.
3rd March 2016
Chhattisgarh auctioned it’s first gold mine
The first gold mine in Chhattisgarh was auctioned off to the Vedanta Private Limited, who bid the highest price of Rs. 74,712 per troy ounce. Each troy ounce is equivalent to 31.10 grams. Vedanta Private Limited were the highest bidders where they bid 12.55% of the Indian Bureau of Mining. The gold mine has a reserve of 2700 kg, and will earn Chhattisgarh Rs. 81.40 crores and a royalty of Rs. 24.70 crores.
29th February 2016
Gold gains were limited as stocks markets rebounded
Since last Friday, the prices of gold have not changed much $1, 230 per ounce. The equities and oil prices stock and turn for the better, and not letting the gold price go higher. Spot gold after gaining a tiny 0.4% in the earlier session, but remained $1,235.38 for an ounce. On Thursday, the prices of crude oil and the securities markets globally saw a hike for the better.
26th February 2016
- For more related news /update on gold price visit: Gold News