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Gold Rate in Ranchi
Ranchi, the capital of Jharkhand, is among the top destinations for buying gold in Eastern India. The city has a rich history with gold and has a good demand for the yellow metal. Being the most populated city in Jharkhand, gold rate in Ranchi can be taken as a benchmark for gold rates in the whole state. Gold rate in Ranchi is affected by various national and international factors.
Gold is sold by numerous dealers and traders in the city. The city boasts of a well-established gold market and as such customers usually get a lot of options to choose from. The city is also a centre of local commercial activity and therefore a large number of customers both from urban and rural localities prefer shopping for gold in Ranchi.
Gold Rate Trend in Ranchi for April 2019 to June 2019 (per gram of 24 karat gold)
|1st day||Rs.3,294 per gram||Rs.3,293 per gram||Rs.3,314 per gram|
|Last day||Rs.3,301 per gram||Rs.3,314 per gram||Rs.3,512 per gram|
|Highest price||Rs.3,306 per gram from 10-12 April||Rs.3,337 per gram on 17 May||Rs.3,529 per gram from 25-27 June|
|Lowest price||Rs.3,246 per gram on 19 April||Rs.3,258 per gram on 24 May||Rs.3,314 per gram on 1 June|
Quarterly gold rate trend in Ranchi for April 2019 to June 2019:
- The quarter that began in April started off with the gold rate in Ranchi trading at Rs.3,294 per gram. This may have been influenced by the demand for gold in the state declining, despite the overseas trend remaining positive.
- The price of the metal then declined to its lowest point in the quarter on 24th May. Gold traded at Rs.3,258 per gram. The demand for the metal remained suppressed at this point while the US dollar rose in value in comparison to other currencies.
- The price of gold in Ranchi rose noticeably in the month of June. Gold rate in Ranchi stood at its highest for three months on from 26 - 27 June. It was recorded at Rs.3,529 per gram. This may have been the effect of favorable global overseas trends clubbed with the surged local and industrial demand for gold.
- The last week of the quarter saw a marginal decline in the gold price in Ranchi as the US and China decided to reignite trade talks. As on 30th June, the price of gold was recorded Rs.3,512 per gram.
Gold Rate Trend in Ranchi for January 2019 to March 2019 (per gram of 24 karat gold)
|1st day||Rs.3,282 per gram||Rs.3,431 per gram||Rs.3,435 per gram|
|Last day||Rs.3,428 per gram||Rs.3,460 per gram||Rs.3,294 per gram|
|Highest price||Rs.3,428 per gram on 31 January||Rs.3,497 per gram on 21 February||Rs.3,435 per gram on 1 March|
|Lowest price||Rs.3,282 per gram on 1 and 2 January||Rs.3,399 per gram on 15 February||Rs.3,313 per gram on 29 March|
Gold Rate Trend in Ranchi for January 2019:
- With the value of the dollar constantly fluctuating, the gold rate in Ranchi increased steadily throughout the month after opening at Rs.3,282 per gram on 1 January. This was also the lowest price point of the metal for the month.
- The ongoing trade tensions between the China and U.S. reduced industrial imports of gold from Asia. However, strong local demand kept the value from declining.
- The dollar weakened while the equity market rose in value. As on 18 January, the price of gold stood at Rs.3,338 per gram. During this time, local and industrial demand for the metal too rose.
- The price of gold stood still for a few days while the dollar recovered in value after the government shutdown ended. However, at the end of the month on 31st January, the yellow metal stood at its highest point as it was trading at Rs.3,428 per gram. The overall percentage increment for the month was recorded at 4.44%.
Gold Rate Trend in Ranchi for February 2019:
- Demand for the yellow metal rose spontaneously as conflicting overseas cues and a volatile U.S. dollar rate impacted local and industrial demand. The gold rate in Ranchi on 1 February was Rs.3,431 per gram.
- Gold prices in Ranchi rose briefly to Rs.3,455 per gram on 6 February as the dollar dropped on global economic slowdown fears but it bounced back as the yellow metal’s value fell to Rs.3,404 per gram on 14 February.
- Sluggish demand from Asia and rising insecurity over Brexit increased gold’s safe-haven appeal among investors as the metal rose to Rs.3,462 per gram on 19 February, as local demand remained static.
- Prices surged to Rs.3,497 per gram on 21 February on news of a resolution to the Sino-U.S. trade dispute but a more aggressive tone by the Federal Reserve boosted the dollar as gold fell to Rs.3,460 per gram on 28 February.
Gold rate trend in Ranchi for March 2019:
- Gold rate in Ranchi dipped in value at the beginning of the month as the value of the US dollar rose substantially. Uncharacteristically, stocks and equities too dipped in value at the same time. The price of gold on 1 March stood at Rs.3,435 per gram. This was also the highest value of the yellow metal for the month.
- The dollar then declined in value on the 7th in comparison to the Euro as the ECB pushed its decision to hike interest rates. This stunted the growth of the metal due to weak economic conditions.
- On 29 March, gold stood at one of its lowest points of the month when it was trading at Rs.3,313 per gram. This was influenced with the dollar increasing in value and weak economic conditions prevailed.
- A percentage decline of 4.10 was recorded for the month of March while it was trading at Rs.3,294 per gram. This was also the lowest price the metal stood at for the month.
Gold Rate Trend in Ranchi for October 2018 to December 2018 (per gram of 24 karat gold)
|1st day||Rs.3,167 per gram||Rs.3,292 per gram||Rs.3,166 per gram|
|Last day||Rs.3,292 per gram||Rs.3,166 per gram||Rs.3,284 per gram|
|Highest price||Rs.3,303 per gram on 25 October||Rs.3,292 per gram on 1 November||Rs.3,284 per gram on 30 and 31 December|
|Lowest price||Rs.3,167 per gram on 1 October||Rs.3,166 per gram on 30 November||Rs.3,166 per gram on 1 December|
Gold Rate Trend in Ranchi for October 2018:
- The festive season and volatile equity markets encouraged higher demand for gold as the yellow metal traded at Rs.3,167 per gram on 1 October.
- Fears over Brexit and the ongoing Sino-U.S. trade tariff dispute resulted in higher investor interest in gold’s safe-haven aspect though a weak rupee capped local gains.
- Retail sales surged in the run-up to Dhanteras as gold rates in Ranchi reached Rs.3,303 per gram on 25 October as jewellers also increased their orders.
- There was a slight dip in price towards the end of the month as the stable dollar reduced local interest in gold due to the high cost of import, with the metal trading at Rs.3,292 per gram on 31 October.
Gold Rate Trend in Ranchi for November 2018:
- In spite of the wedding season, gold rates in Ranchi fell as weak overseas cues and a plummeting rupee resulted in a steady drop in demand for the precious metal.
- Gold was priced at Rs.3,292 per gram on 1 November, which remained the highest price for the month as retail demand was poor as Diwali failed to boost the metal’s flagging sales.
- The faltering rupee and rumours of another spate of interest rate hikes by the U.S. Federal Reserve dented the metal’s appeal among investors and industrial units.
- A poor sowing season also impacted demand from the rural sector as the precious metal traded at Rs.3,166 per gram on 30 November to record a 3.82% loss over the course of the month.
Gold Rate Trend in Ranchi for December 2018:
- Political instability owing to Brexit and the U.S. government shutdown enhanced gold’s appeal among retailers and investors alike as the metal traded at Rs.3,166 per gram on 1 December.
- A marginal recovery in the rupee boosted demand from jewellers, as investors also turned to the metal as a hedge against volatile equity markets.
- Prices fluctuated during the middle of the month as conflicting overseas cues briefly impacted demand but gold recovered as U.S. markets reeled after the partial government shutdown during Christmas.
- With fears over a no-deal Brexit also weighing on equity markets, gold prices in Ranchi benefitted from increased sales as they traded at Rs.3,284 per gram on 31 December.
Gold Rate Trend in Ranchi for July 2018 to September 2018 (per gram of 24 karat gold)
|1st day||Rs.3,146 per gram||Rs.3,079 per gram||Rs.3,129 per gram|
|Last day||Rs.3,082 per gram||Rs.3,116 per gram||Rs.3,167 per gram|
|Highest price||Rs.3,165 per gram on 7 July||Rs.3,116 per gram on 31 August||Rs.3,187 per gram on 20 September|
|Lowest price||Rs.3,082 per gram on 31 July||Rs.3,032 per gram on 17 August||Rs.3,114 per gram on 4 September|
Gold Rate Trend in Ranchi for July 2018
- The gold rate in Ranchi declined over the course of the month, as falling local demand and a rising dollar negatively impacted prices.
- The month began with gold priced at Rs.3,146 per gram which then rose to a monthly high of Rs.3,165 per gram on 7 July after a sudden fall in the dollar rate.
- Prices dropped as the dollar was bolstered by positive U.S. economic data and a steady decline in local retail and industrial orders.
- Apart from some fluctuations, gold prices continued to drop for the rest of the month, trading at a monthly low of Rs.3,082 per gram on 31 July to record a loss of 2.03%.
Gold Rate Trend in Ranchi for August 2018
- Gold opened the month at Rs.3,079 per gram as demand for the metal was poor, but volatile markets and fluctuations in the dollar boosted prices.
- Trade tensions between China and the United States led to a drop in the dollar, as investors looked to gold as a safe-haven asset.
- Prices were more or less stable, though gold fell to Rs.3,032 per gram on 17 August after indications of an interest rate hike boosted the dollar.
- Markets continued to fluctuate over economic downturn fears as a result of the Sino-U.S. trade dispute, as gold prices slowly edged higher.
- The month ended with gold prices in Ranchi rising to Rs.3,116 per gram to record a 1.20% rise in price.
Gold Rate Trend in Ranchi for September 2018
- In spite of a few fluctuations, gold prices in Ranchi were stable for most of the month as rising local demand balanced out a declining overseas trend.
- Gold was priced at Rs.3,129 per gram when trading began as the continued slide in the rupee value affected local imports.
- Jewellers increased orders ahead of the festive season but industrial demand stagnated, as gold rose to Rs.3,187 per gram on 20 September.
- A rise in the dollar rate and stable markets led to a slight drop in gold rates, as the meta closed the month at Rs.3,167 per gram.
Trend of Gold Rate in Ranchi for April to June 2018 (rates per gram of 24 karat gold)
|1st Day||Rs.3,072 per gram||Rs.3,114 per gram||Rs.3,100 per gram|
|Last Day||Rs.3,123 per gram||Rs.3,122 per gram||Rs.3,059 per gram|
|Highest Rate||Rs.3,153 per gram on 19 April||Rs.3,213 per gram on 15 May||Rs.3,127 per gram on 15 June|
|Lowest Rate||Rs.3,064 per gram on 6 April||Rs.3,103 per gram on 3 May||Rs.3,054 per gram on 24 June|
|Overall Monthly Performance||Incline||Incline||Decline|
Gold Rate Trend in Ranchi for April 2018:
- Gold was priced at Rs.3,072 per gram when trading began in Ranchi for the month of April.
- Gold rates dropped to a monthly low of Rs.3,064 per gram on the 6th as demand remained weak and the dollar seemed to rise.
- Demand was on the bullish side this month after the initial fall, as the joint force of the US and NATO decided to attack Syria over the bombing of its citizens.
- As a result, gold rates began to surge, while the dollar plummeted. On the 19th, gold was at its highest of Rs.3,153 per gram as demand surged consistently as the dollar failed to recover and gold demand remained on the rise.
- The month ended with gold prices holding at Rs.3,123 per gram - marking a 1.66% incline in prices.
Gold Rate Trend in Ranchi for May 2018:
- When May’s trading began, gold was priced at Rs.3,114 per gram. Demand this month was slightly on the lower side after the dollar recovered from the previous month’s fall. This caused gold rates to drop after demand weakened.
- Gold was at its highest on the 15th when it traded at Rs.3,213 per gram and the lowest was recorded on the 3rd, when it sold at Rs.3,103 per gram.
- A slightly higher local demand helped offset the rise in the US dollar. Gold was seen trading at Rs.3,122 per gram on the final day of the month.
- There was a 0.25% change in price trends this month, brought about by a positive local demand amidst a rising dollar.
Gold Rate Trend in Ranchi for June 2018:
- Positive market cues and increased trading in the dollar resulted in a drop in demand for bullion.
- When the month began, gold was priced at Rs.3,100 per gram, which fell considerably within the first week after the payroll data showed some positive numbers.
- There was a incline in gold prices mid-month as demand seemed to rise and the metal traded at Rs.3,127 per gram on the 15th.
- However, a fall in demand caused gold rates to drop to a monthly low of Rs.3,054 per gram on the 24th of June.
- When the month ended, gold prices were recorded at Rs.3,059 per gram. Price trends were held to a 1.32% decline this month due to a buoyant dollar and resurgent markets.
Gold Rate Trend in Ranchi for January 2018 to March 2018 (per gram of 24 karat gold)
|1st day||Rs.3,090 per gram||Rs.3,146 per gram||Rs.3,143 per gram|
|Last day||Rs.3,127 per gram||Rs.3,163 per gram||Rs.3,159 per gram|
|Highest price||Rs.3,172 per gram on 25 January||Rs.3,191 per gram on 18 & 19 February||Rs.3,198 per gram on 25 & 26 March|
|Lowest price||Rs.3,088 per gram on 5 January||Rs.3,105 per gram from 10-13 February||Rs.3,117 per gram on 20 March|
Gold Rate Trend in Ranchi for January 2018
- Gold prices in Ranchi opened at Rs.3,090 per gram on steady demand from local jewellers due to increased retail sales during the wedding season.
- International demand was also on the increase as the U.S. Dollar rate fell following the renewal of tensions between the U.S. and North Korea.
- Demand from Asia was also steady as the low dollar rate made it more affordable for buyers overseas due to lower import costs.
- Prices slumped briefly in the third week due to a slight drop in international interest in the metal but prices rebounded to trade at Rs.3,172 per gram on 25 January.
- Gold prices fell marginally as the month ended, with the metal trading at Rs.3,127 per gram following a recovery by the dollar.
Gold Rate Trend in Ranchi for February 2018
- The month began with gold priced at Rs.3,146 per gram, showing a sharp increase from the previous month due to a surge in demand from local industrial units.
- After an initial rise in demand, interest in gold was muted among investors as equity markets recovered from the previous month’s losses.
- Anticipation of positive jobs data from the U.S. also led to the dollar rising as local demand for gold fell.
- Trade tensions with China led to global markets plunging on fears of a possible global trade war, as gold prices reached a monthly high of Rs.3,171 per gram on 18 February.
- The rise in price was short-lived as demand was sluggish due to a decrease in offtake among the retail and industrial sectors.
- The month ended with gold priced at Rs.3,163 per gram on 28 February to record a 0.50% rise in price over the course of the month.
Gold Rate Trend in Ranchi for March 2018
- The price of gold fluctuated in the month of March due to conflicting cues from global markets and demand patterns.
- The yellow metal was priced at Rs.3,143 per gram on 1 March as local demand continued to drop on weak purchasing trends.
- In spite of the dollar rate fluctuating due to internal political tensions, overall demand for the precious metal was poor as investors focussed on equities and bonds.
- Gold fell to Rs.3,117 per gram on 20 March as equity markets and the dollar surged on positive industrial data from the U.S.
- The possibility of an interest rate hike as indicated in the Fed Reserve’s meeting also bolstered currency markets.
- Prices recovered marginally as the month ended with gold priced at Rs.3,159 per gram on 31 March.
- Prices did not see much movement during the month, resulting in a minimal increase of 0.50% in gold value over the course of the month.
Gold Rate Trend in Ranchi for October 2017 to December 2017 (per gram of 24 karat gold)
|1st day||Rs.3,109 per gram||Rs.3,071 per gram||Rs.3,074 per gram|
|Last day||Rs.3,091 per gram||Rs.3,085 per gram||Rs.3,098 per gram|
|Highest price||Rs.3,138 per gram from 12 to 17 October||Rs.3,123 per gram on 20, 25th and 26th November||Rs.3,098 per gram on 30 and 31 December|
|Lowest price||Rs.3,079 per gram from 27 to 29 October||Rs.3,035 per gram 18 November||Rs.3,001 per gram on 12 and 13 December|
Gold Rate Trend in Ranchi for October 2017:
- Gold opened at Rs.3,109 per gram when the final quarter of 2017 began.
- Gold trade this month was affected by poor local demands and a strong US market. Even some of the key festivals failed to spur investor sentiments.
- Prices dropped to Rs.3,086 per gram by the 6th due to a considerable drop in demand but surged back to Rs.3,113 per gram after a poor US dollar showing.
- The yellow metal’s rates hit their highest rate of Rs.3,138 per gram on the 12th and continued at this rate till the 18th of the month.
- Towards the final few days of the month, gold rates in Ranchi seemed to decline before picking up over the 30th and the 31st.
- When the month came to an end, the yellow metal was priced at Rs.3,091 per gram.
- Price trends dropped by 0.57% this month due to poor global cues and weak local demand.
Gold Rate Trend in Ranchi for November 2017:
- When trading started for November, gold opened at Rs.3,071 per gram.
- There were price fluctuations for most part of the month but a steady local demand kept gold rates from witnessing any major changes.
- However, as the US dollar improved against other currencies, gold rates fell and hit Rs.3,035 per gram on the 18th - the lowest rate for the month.
- From this period on, prices fluctuated quite a bit before closing at Rs.3,085 per gram on the last day of the month.
Gold Rate Trend in Ranchi for December 2017:
- Gold trading in December began on a positive note, dropped considerably as the month progressed and improved again towards the end of the month.
- On the 1st of December, the precious metal was priced at Rs.3,074 per gram. Rates went up during the initial few days as the equity market in the US went through a rough patch, which pushed gold rates up.
- In Ranchi, the metal traded at Rs.3,088 per gram from the 2nd to the 4th of the month.
- Gold hit its lowest of the month of Rs.3,001 per gram on the 12th as the dollar bounced back amid a strong market.
- But, various concerns regarding the Trump administration recurred, which led to a weakening of the stock exchanges.
- Gold recovered from the fall to end the month on a high - trading at Rs.3,098 per gram - which was also the highest gold rate for the month.
- Price trends saw a 0.78% change this month, thanks to strong global cues and increased trading in the local market.
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Gold Rate Trend in Ranchi for July 2017 to September 2017 (per gram of 24 karat gold)
|1st day||Rs.3,011 per gram||Rs.3,005 per gram||Rs.3,041 per gram|
|Last day||Rs.3,001 per gram||Rs.3,041 per gram||Rs.3,109 per gram|
|Highest price||Rs.3,044 per gram on 3 July||Rs.3,072 per gram on 17 August||Rs.3,185 per gram from 8-11 September|
|Lowest price||Rs.2,903 per gram on 14 July||Rs.2,971 per gram on 7 August||Rs.3,041 per gram on 1 & 2 September|
Gold rate trend in Ranchi for July 2017
- When the month began the yellow metal was priced at Rs.3,011 per gram in Ranchi.
- The 3rd marked the highest recorded monthly figure of Rs.3,044 per gram owing to the increased local buying from domestic jewellers and industries.
- Local demand declined significantly with the implementation of GST in the country. This pushed gold price in Ranchi as low as Rs.2,903 per gram on the 14th. This was also the lowest recorded monthly figure in Ranchi.
- Demand, however, picked up globally with the continued aggression between the US and North Korea, and the precious metal was priced at Rs.3,002 per gram on the 22nd.
- The monthly ended with gold trading at Rs.3,001 per gram, and Ranchi registering a decline of 0.33% in gold rate trends during the month.
Gold rate trend in Ranchi for August 2017
- Gold prices in Ranchi were significantly influenced by the geopolitical concerns rising in the US and North Korea during the month.
- Gold was priced at Rs.3,005 per gram, when trading commenced.
- The stand-off between the US and North Korea resulted in investors banking on safe-haven assets like gold, pushing global demand higher for the metal. This led to gold prices surging to Rs.3,072 per gram on the 17th. This was also the highest recorded monthly price in the city.
- The month ended with the precious metal trading at Rs.3,041 per gram, thanks to steady demand from industries and jewellers.
- Ranchi witnessed gold rate in Ranchi rising at 1.19% during the month due to strong global cues compounded with increased demand.
Gold rate trend in Ranchi for September 2017
- Gold opened trading firm at Rs.3,041 per gram with steady loca, as well as, global demand from industries and jewellers.
- The news about North Korea’s successful two-stage thermonuclear weapon test sent global markets crashing. This pushed demand for safe-haven investments higher, subsequently, rising gold rates to Rs.3,185 per gram - the highest recorded monthly figure.
- However, the US economy recovered over the next few days, pushing prices as low as Rs.3,111per gram on the 23rd.
- Demand for gold remained low, despite the arrival of the festive season. This led to gold rate in Ranchi dropping further to Rs.3,105 per gram on the 26th.
- When trading concluded for the month, the precious metal was trading at Rs.3,109 per gram marking a 2.23% incline in gold rate trends in the city.
Gold Rate Trend in Ranchi for April 2017 to June 2017 (per gram of 24 karat gold)
|1st day||Rs.3,011 per gram||Rs.3,021 per gram||Rs.3,030 per gram|
|Last day||Rs.3,021 per gram||Rs.3,015 per gram||Rs.3,011 per gram|
|Highest price||Rs.3,096 per gram on 17, 22 & 23 April||Rs.3,034 per gram on 30 May||Rs.3,080 per gram on 7 June|
|Lowest price||Rs.3,011 per gram from 1-3 April||Rs.2,937 per gram on 11 May||Rs.2,994 per gram on 19 & 20 June|
Gold rate trend in Ranchi for April 2017
- Gold prices in Ranchi reflected trends see elsewhere in the country as gold rates strengthened on positive cues and a weak U.S. dollar.
- The yellow metal traded at Rs.3,011 per gram on 1 April and rose to Rs.3,033 per gram on 5 April as internal crises plaguing the Trump administration led to falling markets and higher demand for safe-haven assets like gold.
- Prices were more or less constant for a week before increased demand from overseas markets led to gold trading at Rs.3,065 per gram on 13 April.
- Market fluctuations and an increase in local demand led to gold trading at Rs.3,096 per gram on 17 April before prices stabilised as demand dropped marginally.
- Gold prices were on the decline towards the end of the month due to a decline in demand, with the metal priced at Rs.3,021 per gram on 30 April.
Gold rate trend in Ranchi for May 2017
- While prices were steady as May began, declining demand and strong markets led to gold price in Ranchi falling.
- Gold was priced at Rs.3,021 per gram on 1 May with the price remaining steady for a few days before falling to Rs.2,947 per gram on 6 May.
- Demand for gold was on the decline as markets were buoyed by positive cues from European and American markets, which reduced interest in bullion as gold sank to Rs.2,937 per gram on 11 May.
- Prices recovered as local demand increased, trading at Rs.3,003 per gram on 18 May as demand from China and other Asian nations rose.
- Gold price in Ranchi reached Rs.3,026 per gram on 29 May as the dollar plunged due to internal political crises in the United States.
- Gold rate in Ranchi dipped on the last day of May, trading at Rs.3,015 per gram and recording an overall decline of 0.19%.
Gold rate trend in Ranchi for June 2017
- Gold price in Ranchi in June fluctuated as the month began due to conflicting cues arising out of stable markets but a low U.S. dollar rate.
- Gold traded at Rs.3.030 per gram on 1 June before falling to Rs.3,011 per gram on 2 June due to a sharp decline in orders from overseas.
- Prices recovered to trade at Rs.3,080 per gram on 7 June as markets tumbled following the internal turmoil and scandals enveloping the Trump administration.
- Local demand was also on the rise as consumers increased purchases before GST, which would make gold more expensive.
- Gold traded at Rs.3,024 per gram on 12 & 13 June before prices fell due to a dip in demand from overseas markets.
- Gold price in Ranchi continued to fall, trading at Rs.2,994 per gram on 19 June as the dollar made a partial recovery.
- Gold ended the month trading at Rs.3,011 per gram on 30 June to record a decline in price of 0.62%.
Gold Rate Trend in Ranchi for January 2017 to March 2017 (per gram of 24 karat gold)
|1st day||Rs.2,843 per gram||Rs.2,989 per gram||Rs.3,030 per gram|
|Last day||Rs.2,989 per gram||Rs.3,008 per gram||Rs.2,987 per gram|
|Highest price||Rs.3,014 per gram on the 24th of January||Rs.3,010 per gram from the 20th of February to the 22nd of February||Rs.3,030 per gram on the 1st and 27th of March|
|Lowest price||Rs.2,838 per gram on the 2nd of January||Rs.2,977 per gram on the 2nd of February||Rs.2,945 per gram on the 15th of March|
Gold Rate Trend in Ranchi for January 2017:
- When 2017 began, gold rates in Ranchi stood at Rs.2,843 per gram, which dropped slightly to Rs.2,938 per gram as there was a small dip in demand.
- But, from the 2nd onwards, there was no turning back for gold trade as prices kept increasing as the days passed.
- Rates seen on the 2nd was the lowest gold rate for the entire month, which meant gold traders had a great month in terms of profitability.
- By the end of the first week i.e., 7th, gold prices had gone up to Rs.2,899 per gram.
- The next couple days, 8th and 9th, saw prices dip as there were a few corrections along the way.
- Prices bounced back on the 10th to bring gold prices up to Rs.2,910 per gram, and increased to go up to Rs.2,984 per gram by the end of 17th.
- Gold prices followed on their incline path before clocking a rate of Rs.3,014 per gram on 24th - the highest gold rate of the month.
- The last few days of January saw some variations in prices, which rallied towards the end of the month to close at Rs.2,989 per gram
- Gold rate trends increased by 5.13% for the month of January owing to strong domestic and international demand and a weak dollar.
Gold Rate Trend in Ranchi for February 2017:
- The month of February in Ranchi began with gold priced at Rs.2,989 per gram. But, as demand took a brief hit on 2nd, prices went down to Rs.2,977 per gram.
- As news of a possible Fed rate hike hit the news, gold rates seemed to vary for the next few days.
- Gold was trading at Rs.2,980 per gram on 6th and remained the same till the end of the 12th.
- As demand went up on 13th, gold prices also went up - this time to Rs.2,991 per gram.
- Rates didn’t change at all till the 19th as there was sustained demand in the domestic market despite a slowdown in global trends.
- After considerable variations, gold prices held on at Rs.3,008 per gram when trading stopped at the end of 28th February.
- The month saw price trend dip to 0.63% - a massive dip of 4.5% compared to the previous month.
Gold Rate Trend in Ranchi for March 2017:
- March was a bad period of gold trade both globally and domestically.
- This was all due to a Fed interest rate hike on top of a strengthening US dollar, both of which combined to bring demand for the metal down.
- On 1st March, gold was priced at Rs.3,030 per gram but as days progressed rates kept dropping.
- Rates on 1st of March were the highest for the month, which meant that prices never seemed to recover for the month.
- Prices had gone down to Rs.2,997 per gram by the end of the 9th, which then dropped to Rs.2,945 per gram on 15th.
- But, after that drastic fall, gold prices seemed to rally marginally to trade at Rs.2,978 per gram on the 20th.
- The last 11 days of March were rather positive as prices seemed to recover mildly, where in they reach Rs.3,030 per gram on 27th.
- However, as demand couldn’t be sustained, they went down to Rs.2,987 per gram at the end of the 31st.
- Overall, gold rates went down by 1.41% for the month of March due to lack of demand.
|1st day||Rs.3,244 per gram||Rs.3,130 per gram||Rs.2,884 per gram|
|Last day||Rs.3,130 per gram||Rs.2,926 per gram||Rs.2,843 per gram|
|Highest price||Rs.3,244 per gram from 1st-11th October||Rs.3,190 per gram on 3rd & 4th November||Rs.2,963 per gram on 1st & 2nd December|
|Lowest price||Rs.3,100 per gram on 18th October||Rs.2,919 per gram on 27th November||Rs.2,749 per gram from 24th-26th December|
Gold Rate Trend for Ranchi in October 2016
- Gold prices in Ranchi remained stable as October began but fell towards the middle of the month as demand began to fall.
- On 1st, gold was trading at Rs.3,244 per gram, thanks to the onset of the festive season.
- The end of the month saw a decrease in demand as the retail sector went through a blip.
- October ended with gold trading at Rs.3,130 per gram, thereby bringing in a change of -3.51% with regard to price trends.
Gold Rate Trend for Ranchi in November 2016
- Gold prices went through a massive wave of decrease as major policy decisions were taken in India while some big events took place around the world.
- The beginning of the month saw prices soar as uncertainty rose due to Donald Trump winning the US Presidential election.
- On 1st, gold traded at Rs.3,130 per gram which later increased to Rs.3,190 per gram on 3rd November.
- Prices further saw fluctuations as the Narendra Modi-led government announced the demonetisation of Rs.500 and Rs.1,000 currencies in India, leading to a boost in demand.
- However, prices tended to fall due to a decrease in industrial demand slowed as markets stabilised after the upheaval of the first two weeks. Lack of cash also played a major part in the falling demand for gold.
- When the end of November struck, gold was seen trading at Rs.2,926 per gram.
- Overall, Ranchi, like many of its neighbouring cities, saw gold price trends change by a massive -6.51% during the month of October.
Gold Rate Trend for Ranchi in December 2016
- When December began, demand for gold remained lower than expected as cash shortage still lingered in the economy.
- On 1st, gold was seen trading at Rs.2,884 per gram but prices seemed to fluctuate significantly as demand too remained low.
- The weeks approaching Christmas also saw a decline in gold demand as there was massive sales while brought about a stabilization in the market.
- On 24th, gold prices fell to a quarterly low of Rs.2,749 per gram as there was a major decrease in the retail sector.
- At the end of the month, gold prices rose marginally as a fear of economic slowdown in in Asia took charge, leading to an increase in investor sentiments.
- At the end of the month gold traded at Rs.2,843 per gram.
- All in all, the last month of Q4 saw gold prices fluctuate by -1.42% compared to November.
|1st day||Rs.3,252 per gram||Rs.3,271 per gram||Rs.3,218 per gram|
|Last day||Rs.3,292 per gram||Rs.3,237 per gram||Rs.3,244 per gram|
|Highest price||Rs.3,305 per gram on 7th July||Rs.3,277 per gram from 18th-28th August||Rs.3,244 per gram from 7th-30th September|
|Lowest price||Rs.3,218 per gram from 27th-29th July||Rs.3,232 per gram on 9th August||Rs.3,200 per gram on 5th and 6th September|
|Trend||Increase in price||Decrease in price||Increase in price|
Gold Rate Trend in Ranchi for July 2016
- Gold traded at Rs.3,253 per gram on 1st July but prices fell as demand was weak.
- Prices rose to Rs.3,300 per gram on 4th July as markets fell due to concerns about Asian markets, but prices stabilised to Rs.3,384 per gram on 10th July.
- Prices fell as markets recovered and domestic demand fell, trading at Rs.3,265 per gram on 12th July.
- The slide continued as markets were strengthened by positive data from the U.S, resulting in gold falling to Rs.2,239 per gram on 19th July.
- Gold recovered as international cues indicated a rise in demand from Asia, with gold trading at Rs.2,243 per gram on 25th July and closing at Rs.3,292 per gram.
Gold Rate Trend in Ranchi for August 2016
- The price of gold stayed high at Rs.3,271 per gram on 1st August, with prices rising to Rs.3,287 per gram on 7th August on renewed demand and market instability.
- Prices fell sharply as local demand dropped, leading to gold trading at Rs.3,248 on 8th August as international markets also suffered from low demand.
- Gold recovered thanks to a slide in currency markets, trading at Rs.3,277 per gram on 18th August for the remainder of the week.
- Prices stayed steady at Rs.3,277 per gram but a dip in demand led to prices falling to Rs.3,237 per gram on 31st August.
Gold Rate Trend in Ranchi for September 2016
- Prices fell to Rs.3,218 per gram on 1st September as demand dropped on strong data from the U.S. economy.
- Gold prices rose in the second week, trading at Rs.3,200 on 5th September as domestic demand increased.
- Prices dipped marginally to Rs.3,244 per gram on 12th September and stayed constant for the rest of the week.
- The third week saw prices stay steady at Rs.3,244 per gram on 18th September till the end of the month due to demand being constant.
|1st day||Rs. 3,018 per gram||Rs. 3,018 per gram||Rs. 3,015|
|Last day||Rs. 3,018 per gram||Rs. 3,003 per gram on 31st of May||Rs. 3,221|
|Highest price||Rs. 3,018 per gram||Rs. 3,157 per gram from 7th to 11th May||Rs. 3,266 per gram on 27th June|
|Lowest price||Rs. 3,018 per gram||Rs. 3,003 per gram on the 31st of May||Rs. 2,988 per gram on 3rd June|
Gold Rate Trend of Ranchi in April 2016
- Gold opened the month at Rs. 3,018 per gram.
- Gold prices remained constant throughout the month and closed April at Rs. 3,018 per gram.
Gold Rate Trend of Ranchi in May 2016
- There were no major changes in demand and the rate remained unchanged at Rs. 3,018 per gram on the first day of May.
- Gold price increased to Rs. 3,157 on the 7th of May and held steady till 11th before dropping again.
- The price declined to Rs. 3,003 per gram on the 31st of May.
Gold Rate Trend of Ranchi in June 2016
- There were minor fluctuations in the rate of gold during the first week of June in Ranchi.
- Gold opened at Rs.3,015 per gram on the 1st of June and reduced by Rs.13 the next day.
- There was a further decrease observed in the price of gold on the 3rd.
- At the end of the week, price of gold increased to Rs.3,035 per gram.
- Continuing from the previous week, the price of gold was Rs.3,035 per gram on the 5th and increased by Rs.9 the next day.
- Gold rate was steady at Rs.3,046 per gram from 6th June to 8th June after which prices increased again.
- Gold price was steady at Rs.3,092 per on 10th and 11th June.
- There were a number of minor fluctuations in gold rate throughout the third week of the month.
- Price of gold increased from Rs.3,092 per gram to Rs.3,135 per gram from 12th to 14th June.
- Gold traded at Rs.3,147 per gram on the 15th.
- Rate of gold was steady at Rs.3,191 on the 16th and 17th but decreased to Rs.3,170 per gram at the end of the week.
- Fluctuations were again noted in the fourth week of June regarding gold prices.
- Price of gold varied from Rs.3,170 to Rs.3,259 over the course of the week.
- Lowest price seen during the week was on the 23rd, with gold being priced at Rs.3,111 per gram.
- Price of gold was steady at Rs.3,259 per month on the 24th and 25th.
- There were minor variations noted in the price of gold in the final week of June.
- Gold traded at Rs.3,266 per gram on 27th June which was also the highest for the month.
- Gold closed at Rs.3,221 per gram on 30th June.
|1st day||Rs. 2,587 per gram||Rs. 2,769 per gram||Rs. 3,090 per gram|
|Last day||Rs. 2,692 per gram||Rs. 3,067 per gram||Rs. 3,018 per gram|
|Highest price||Rs. 2,767 per gram on January 31st||Rs. 3,092 per gram on 26th of February||Rs. 3,090 per gram from March 1st to 18th|
|Lowest price||Rs. 2,587 per gram on the 1st of January||Rs. 2,769 per gram on 1st of February||Rs. 3,016 per gram on 21st of March|
Gold Rate Trend of Ranchi in January 2016
- Gold traded at Rs. 2,585 per gram on the 1st of January without many changes over the few days
- Gold rose by Rs. 48 at Rs. 2,633 per gram on 5th of January.
- Gold hit the highest rate for January on 31st at Rs. 2,692 per gram.
Gold Rate Trend of Ranchi in February 2016
- Gold traded at Rs. 2,769 per gram on 1st of February and that was the lowest price for the month.
- Gold traded at Rs. 2,997 per gram during the last week of the month on 22nd.
- February witnessed a steady rise in Gold prices as it shot up to Rs. 3,067 per gram on 26th of February.
Gold Rate Trend of Ranchi in March 2016
- Gold managed to hold steady at Rs. 3,090 on the 1st of March.
- But gold witnessed a steady downfall in the last two weeks of March and stood at Rs. 3,018 per gram at the end of March.
Details of Gold Price in Ranchi (22 Karat & 24 Karat) - Till September 2015
Gold rate in Ranchi for 2015 (1st April to 30th September) for both 22 karat and 24 karat varieties is discussed below:
22 karat gold (price per gram): Gold rate on 1st April was Rs.2,442. This increased over the month and first half of May to touch a high of Rs.2,583 on 19th May. Prices went on a downward slide from then onwards, with June registering a general decline in rates throughout the month. Gold rates at the start and end of June were Rs.2,510 and Rs.2,479 respectively, indicating an overall decline. July saw the largest drop in rates in more than 5 years owing to global cues, with prices bottoming out on 25th July at Rs.2,279. Prices fell in the first part of August before appreciating steeply by 25th August to Rs.2,541. Gold rate at the start and end of September were Rs.2,470 and Rs.2,440 respectively, indicating a slight decline over the month.
24 karat gold (price per gram): Gold rate on 1st April was Rs.2,622, which increased over the month to Rs.2,704 by end of the April. May saw volatility in rates, however month beginning and ending rates were almost the same, signalling a stable month with spikes of volatility in between. Gold rate on 31st May was Rs.2,700. June saw a gradual decline in gold rates, which was further enhanced by global variables in July. Gold rate bottomed out for the year at Rs.2,459 on 8th August, before steeply recovering in the next few days to touch Rs.2,721 by 25th of the month. September beginning and end rates were Rs.2,650 and Rs.2,620 respectively, signalling a slight decline overall.
Gold buying patterns in Ranchi
Gold is sold throughout the city in a number of jewellery and dealer outlets.
Over the counter: Gold is popularly sold as jewelleries and ornaments in the city of Ranchi. The city has a rich culture and people throng to buy gold jewelleries during festival or marriage seasons. Other than jewelleries, gold is also sold as bullions and coins in the city, with bullions being a cheaper option though they are only available for larger quantities of gold.
Traded gold: Gold is traded by the people of Ranchi through spot and future contracts. Spot contracts are available on a real time basis and purchased gold is usually delivered within a week. Futures contract is sold for a future delivery date.
- Also Check:Gold Rate in Jharkhand
Also Check Gold Price in NearBy Cities of Ranchi
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|Also Know: Silver Rate in Ranchi|