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Rourkela is one of the largest cities in Odisha and is known for its steel plants and metalworks. The city is known as the ‘industrial capital of Odisha’ and is fast emerging as a hotbed of Information Technology (IT) and engineering in India. Iron and steel are mined in the region, with residents looking to bullion as a safe investment.
Gold Rate Trend in Rourkela for April 2018 to June 2018 (per gram of 24 karat gold)
| Factor | April | May | June |
| 1st day | Rs.3,159 per gram | Rs.3,231 per gram | Rs.3,216 per gram |
| Last day | Rs.3,231 per gram | Rs.3,217 per gram | Rs.3,146 per gram |
| Highest price | Rs.3,243 per gram from 20 to 23 April | Rs.3,254 per gram on 14 May | Rs.3,216 per gram on 1 June |
| Lowest price | Rs.3,159 per gram from 1 and 2 April | Rs.3,197 per gram on 18 May | Rs.3,146 per gram on 30 June |
| Trend | Incline | Decline | Decline |
| Change | 2.27% | -0.43% | -2.17% |
Gold Rate Trend in Rourkela for April 2018
- The precious metal was priced at Rs.3,159 per gram as the month opened on strong demand from both local as well as overseas buyers.
- The escalating tensions between the United States and North Korea led to turbulence and uncertainty across equity markets, which led to a rise in demand for gold.
- Local jewellers increased orders due to a low dollar rate, which kept gold prices stable and on the increase.
- Prices reached their highest for the month from 20-23 April, when gold traded at Rs.3,243 per gram on sustained demand and falling equity markets.
- Prices dropped marginally as the month ended, following a recovery by the dollar and profit taking by investors.
- Gold ended the month priced at Rs.3,231 per gram on 30 April as local demand echoed overseas trends.
Gold Rate Trend in Rourkela for May 2018
- Gold prices fluctuated over the course of the month, opening at Rs.3,231 per gram on static demand.
- The weakened U.S. Dollar led to increased interest in safe-haven resources like bullion, which led to prices climbing.
- Local demand was muted as the high cost of gold and the end of the wedding season led to reduced orders, though Asian demand kept prices steady.
- Geopolitical tensions between the United States and Iran led to fresh uncertainty across the bourses, which in turn resulted in increased demand for bullion.
- Prices stabilised after a prolonged period of instability as the dollar recovered and equity markets also recouped earlier losses.
- The precious metal lost value as investors awaited news of a possible rate hike, as the upcoming U.S.-North Korea summit also buoyed markets.
- The month ended with gold priced at Rs.3,217 per gram on 31 May to register a 0.43% drop in value.
Gold Rate Trend in Rourkela for June 2018
- In spite of markets being turbulent ahead of the summit between the United States and North Korea, demand for gold was sluggish due to contrary cues.
- The precious metal opened trading at Rs.3,216 per gram before prices dropped to Rs.3,194 per gram on 2 June due to falling demand.
- Local demand for gold was weak as investors awaited the results of the summit, as gold prices tumbled.
- The success of the summit boosted the dollar as industrial units also reduced offtake, as gold prices dropped to Rs.3,155 per gram on 23 June.
- Fluctuations in prices saw gold prices to Rs.3,163 per gram on 29 June before falling to Rs.3,146 per gram when the month ended on 30 June.
