Gold Rate In Salem Today

  • Today's Gold Rate in Salem ( 20 Jan 2021 )

    ₹ 4,644
    Today's Gold Rate (22K) per gram

    Compare 22K & 24K Gold Rate In Salem (Today & Yesterday)

    Today
    Yesterday
    Rate Change
    Standard Gold (22 K) ( 1 gram ) ₹ 4,644 ₹ 4,622 ₹ 22 ↑
    Standard Gold (22 K) ( 8 grams ) ₹ 37,152 ₹ 36,976 ₹ 176 ↑
    Pure Gold (24 K) ( 1 gram ) ₹ 4,876 ₹ 4,853 ₹ 23 ↑
    Pure Gold (24 K) ( 8 grams ) ₹ 39,008 ₹ 38,824 ₹ 184 ↑

    Daily Gold Rates

    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    20 Jan 2021 ₹ 4,644 ₹ 37,152 ₹ 4,876 ₹ 39,008
    19 Jan 2021 ₹ 4,622 ₹ 36,976 ₹ 4,853 ₹ 38,824
    18 Jan 2021 ₹ 4,602 ₹ 36,816 ₹ 4,832 ₹ 38,656
    17 Jan 2021 ₹ 4,608 ₹ 36,864 ₹ 4,838 ₹ 38,704
    16 Jan 2021 ₹ 4,608 ₹ 36,864 ₹ 4,838 ₹ 38,704
    15 Jan 2021 ₹ 4,652 ₹ 37,216 ₹ 4,885 ₹ 39,080
    14 Jan 2021 ₹ 4,677 ₹ 37,416 ₹ 4,911 ₹ 39,288
    13 Jan 2021 ₹ 4,677 ₹ 37,416 ₹ 4,911 ₹ 39,288
    12 Jan 2021 ₹ 4,677 ₹ 37,416 ₹ 4,911 ₹ 39,288
    11 Jan 2021 ₹ 4,662 ₹ 37,296 ₹ 4,895 ₹ 39,160

    Weekly & Monthly Graph of Gold Rate in Salem

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    • 6 Months

    *Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.

    Gold Price in Salem

    Gold rates in Salem depend on several global factors such as gold imports, oil prices and strength of the dollar among others. Gold rates touched a 4-year low in India and over five-year low globally this year. According to experts, gold prices are unlikely to rise in the near future due to an imminent hike in interest rates by the US Fed and Greece’s default crisis. Intriguingly, 60% of demand for gold comes from rural India especially during weddings.

    Experts, therefore, warn that reducing rural purchasing power, crop failure and a bad monsoon may hit gold sales. According to World Gold Council, 50% of the Indian population is under 25 years. As a result, around 150 million weddings are likely to take place in the coming ten years.

    Most consumers in Salem buy gold jewellery for traditional festivals and weddings. Auspicious days such as Dhanteras and Akshaya Tritiya attract long queues in front of jewellery stores in Salem. In addition to its obvious ornamental uses, gold is used as a safe hedge against inflation.

    Trend of Gold Rate in Salem for January 2021 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    January 1 Rate Rs.4,965 per gram
    January 9 Rate Rs.4,935 per gram
    Highest Rate in January Rs.5,100 per gram on 6 January
    Lowest Rate in January Rs.4,935 per gram on 9 January
    Overall Performance Decline

    January 2021 - Week 1 (1 - 9):

    • Gold rate in Salem opened the month of January at Rs.4,965 per gram on 1 January and increased to Rs.4,985 per gram on 2 January. The metal’s price held steady on the following day at the same price.
    • Crossing the Rs.5,000 per-gram mark on 4 January at Rs.5,032 per gram, the precious metal’s value increased to Rs.5,083 per gram on 5 January. Gold hit its highest price of the week on 6 January at Rs.5,100 per gram.
    • In the second half of the week, the gold rate dipped to Rs.5,045 per gram on 7 January and declined further to Rs.5,032 per gram on 8 January. The metal closed the week on 9 January at Rs.4,935 per gram.

    Trend of Gold Rate in Salem for December 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    December 1 Rate Rs.4,759 per gram
    December 31 Rate Rs.4,960 per gram
    Highest Rate in December Rs.5,017 per gram on 21 December
    Lowest Rate in December Rs.4,759 per gram on 1 December
    Overall Performance Incline

    December 2020 - Week 1 (1 - 6):

    • Gold price in Salem opened the first week of December at Rs.4,759 per gram. The price of the yellow metal was down by Rs.44 for every gram when compared to the closing price of the previous month. The opening price of gold was the lowest for the month till date.
    • The price of gold increased over the next few days and recorded its highest price for the month till date on 4th December. In Salem, a gram was retailed for Rs.4,889 on the mentioned date.
    • Gold rate slipped slightly on 5th December and closed the week at Rs.4,885 per gram. The rates witnessed an inclining trend in the city over the opening week of the month.

    December 2020 - Week 2 (7 - 13):

    • Opening at Rs.4,881 per gram, gold rate in Salem showed an inclining trend for the second week of December despite fluctuating prices in the market. On 8 December, the metal had hit its highest price of the week at Rs.4,970 per gram.
    • On the next day, the metal’s price fell to Rs.4,918 per gram and further to Rs.4,877 per gram on 10 December. With the risk appetite at a high amongst investors, the price of the metal dipped further to Rs.4,871 per gram on 11 December.
    • Increasing marginally due to support found in the lower levels, the price of the metal increased to Rs.4,890 per gram on 12 December and closed at the same rate on 13 December.

    December 2020 - Week 3 (14 - 20):

    • In Salem, the price of gold was Rs.4,890 per gram at the start of the third week of December. When compared to the closing price of the previous week, gold price didn’t see any change in the city.
    • Gold price in Salem slipped on 15th December before increasing gradually in the city. A gram of the 24-karat gold was retailed for Rs.4,962 on 18th December.
    • Gold closed the week in Salem at Rs.4,981 per gram. The closing price of the precious metal was the highest for the month till date. The overall performance of gold witnessed an inclining trend in Salem.

    December 2020 - Week 4 (21 - 27):

    • Opening at Rs.5,017 per gram on 21 December, the price of the metal was at its highest on the same day. Gold rate in Salem decreased to Rs.4,984 per gram on 22 December and increased marginally to Rs.4,984 per gram.
    • On 23 December, the price of the metal dipped further to Rs.4,949 per gram. With minor fluctuations, the price of the metal increased to Rs.4,950 per gram and on Christmas Day, it increased further to Rs.4,963 per gram.
    • The price of the metal on 26 December increased to Rs.4,967 per gram and remained steady on the next day and closed the week at the same rate.

    December 2020 - Week 5 (28 - 31):

    • The price of gold in Salem at the start of the fifth week of December was Rs.4,996 per gram. When compared to the closing price of the previous week, gold price was up by Rs.29 for every gram.
    • Gold price in Salem fluctuated over the remainder of the week. A gram of the yellow metal was retailed for Rs.4,961 on 30th December.
    • Gold closed the final week of the month at Rs.4,960 per gram with the overall performance witnessing an inclining trend in the rates.

    Trend of Gold Rate in Salem for November 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    November 1 Rate Rs.4,998 per gram
    November 30 Rate Rs.4,803 per gram
    Highest Rate in November Rs.5,128 per gram on 7 November to 9 November
    Lowest Rate in November Rs.4,803 per gram on 28 November – 30 November
    Overall Performance Decline

    November 2020 - Week 1 (1 - 8):

    • The price of gold in Salem was Rs.4,998 per gram on 1 November, opening the first week of the month. On 2 November, the price of the metal dipped marginally to Rs.4,997 per gram and remained steady on 3 November as well.
    • Increasing to Rs.5,042 per gram on 4 November, the price of the precious metal then dipped marginally to Rs.5,031 per gram on the following day as the value of the U.S. dollar increased in the market.
    • On 7 November, the price of the metal hit its weekly high at Rs.5,128 per gram and closed the week at the same rate.

    November 2020 - Week 2 (9 - 15):

    • Gold opened the second week of November at Rs.5,128 per gram in Salem. There was no change in the rates when compared to the price charged on the final day of the previous week.
    • Over the next few days, the price of gold witnessed slight fluctuations. A gram of the 24-karat gold was retailed for Rs.4,990 on 12th November. This was the lowest recorded price of the yellow metal for the month till date.
    • Gold rate in Salem closed the week at Rs.5,022 per gram. The overall performance of gold in the city witnessed an inclining trend.

    November 2020 - Week 3 (16 - 22):

    • In Salem, gold opened the third week at Rs.5,062 per gram on 16 November and dipped to Rs.5,041 per gram on 17 November and further to Rs.5,023 per gram on 18 November due to increased risk appetite and the increasing value of the dollar.
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    • On 19 November, the price of the metal dipped to below the Rs.5,000 per gram mark at Rs.4,984 per gram was at its monthly low on 20 November at Rs.4,982 per gram.
    • The precious metal’s value recovered marginally on 21 November at Rs.4,998 per gram and closed the week at the same rate on 22 November, recording an overall weekly decline.

    November 2020 - Week 4 (23 - 30):

    • Gold price in Salem opened the last week of November at Rs.4,990 per gram on 23 November and dipped to Rs.4,876 per gram by 25 November. Further, the metal dipped to Rs.4,837 per gram on 26 November.
    • With investors shifting to the equities market, gold prices continued to fall to Rs.4,805 per gram on 27 November and marginally declined further to Rs.4,803 per gram on 28 November.
    • The price of the metal remained steady at the same price on 29 November and closed at the same rate on 30 November recording an overall monthly decline.

    Trend of Gold Rate in Salem for October 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    October 1 Rate Rs.5,066 per gram
    October 31 Rate Rs.4,998 per gram
    Highest Rate in October Rs.5,131 per gram on 12 October
    Lowest Rate in October Rs.4,904 per gram on 20 October
    Overall Performance Decline

    October 2020 - Week 1 & 2 (1 -11):

    • The price of gold in Salem was Rs.5,066 per gram on 1 October and increased to Rs.5,093 per gram on 4 October. However, the price of the metal dipped to Rs.5,042 per gram on 5 October and was steady on the following day.
    • However, on 7 October, gold rate in Salem, the price of the metal increased marginally to Rs.5,045 per gram and on the following day, the metal hit its lowest price of the week at Rs.5,040 per gram.
    • At the end of the week, gold prices increased to hit its highest price at Rs.5,125 per gram on 10 October and closed at the same rate on the following day.

    October 2020 - Week 3 (12 - 18):

    • A gram of the 24-karat gold was retailed for Rs.5,131 in Salem at the start of the third week of October. Compared to the previous week’s closing price, the price for every gram of gold was up by Rs.6.
    • Having opened the week at the highest recorded price for the month till date, gold price in Salem saw fluctuations in the rates over the week.
    • The price of gold slipped to Rs.4,914 per gram on 17th October before closing the week at the same price. The overall performance of gold in the city witnessed an inclining trend.

    October 2020 - Week 4 (19 - 25):

    • Gold price in Salem was at Rs.4,925 per gram on 19 October, opening the fourth week of the month. However, gold rates hit its lowest on 21 October at Rs.4,904 per gram as the value of the dollar increased in the market.
    • On 22 October, the price of the metal recovered and was Rs.4,956 per gram and dipped marginally to Rs.4,946 per gram on the following day. On 24 October, the price of the metal was Rs.4,935 per gram
    • Gold rate closed the week at Rs.4,958 per gram on 25 October and recorded an overall incline for the week.

    October 2020 - Week 5 (26 - 31):

    • Gold price in Salem on 26th October was Rs.4,949 per gram. There was a drop of Rs.9 in the price of the yellow metal when compared to the closing price of the previous week.
    • The price of the yellow metal shot up to Rs.5,026 per gram on 27th October before slipping. A gram of the 24-karat gold was retailed for Rs.4,971 on 30th October.
    • Gold closed the week in Salem at Rs.4,998 per gram with the overall performance recording a declining trend.

    Trend of Gold Rate in Salem for September 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    September 1 Rate Rs.5,221 per gram
    September 30 Rate Rs.5,076 per gram
    Highest Rate in September Rs.5,221 per gram on 1 September
    Lowest Rate in September Rs.4,993 per gram on 24 September
    Overall Performance Decline

    September 2020 - Week 1 (1 - 6):

    • In Salem, gold price opened at Rs.5,221 per gram on 1 September which was the highest price of the metal during the first week of the month. On 2 September, the price of the metal dipped to Rs.5,162 per gram.
    • Gold rate in Salem dipped to hit its lowest price of the week at Rs.5,121 per gram on 3 September. However, gold prices increased marginally to Rs.5,130 per gram on the following day.
    • At the end of the week, the price of the precious metal was holding steady at Rs.5,132 per gram and closed at the same rate recording an overall decline.

    September 2020 - Week 2 (7 - 13):

    • Gold price opened the second week of September at Rs.5,129 per gram in Salem. Compared to the price charged on the final day of the previous week, the rates were down by 3 paise for every gram.
    • Gold rate in Salem saw slight fluctuations over the week. A gram of the previous metal was retailed for Rs.5,171 per gram on 10th September.
    • The yellow metal closed the week at Rs.5,145 per gram with the overall performance witnessing a declining trend.

    September 2020 - Week 3 (14 - 20):

    • Gold opened the third week of September at Rs.5,152 per gram in Salem. There was an increase of Rs.7 for every gram when compared to the price charged on the final day of the previous week.
    • Over the next few days, the price of gold increased in the city. A gram of the 24-karat gold was retailed for Rs.5,208 on 16th September.
    • Gold rate in Salem dropped over the next two days before recovering gradually and closing the week at Rs.5,206 per gram. The overall performance witnessed a declining trend in the city.

    September 2020 - Week 4 (21 - 27):

    • In Salem, during the last week of the month, the gold rate opened at Rs.5,181 per gram and dipped to Rs.5,124 per gram on the following day. The metal dipped to hit its lowest as the value of the dollar dipped to Rs.4,993 per gram on 24 September.
    • On 25 September, the price of the metal recovered marginally to Rs.5,028 per gram and dipped yet again to Rs.5,019 per gram on 26 September.
    • On the last day of the week, the price of the metal closed at Rs.5,109 per gram and recorded an overall declining trend.

    September 2020 - Week 5 (28 - 30):

    • In Salem, gold was priced Rs.5,009 per gram at the start of the fifth and final week of September. When compared to the price charged on the final day of the previous week, the price of a gram was down by Rs.10.
    • Gold price in Salem increased over the next two days and closed the month at Rs.5,076 per gram.
    • The overall performance of gold witnessed a declining trend in the city.

    Trend of Gold Rate in Salem for August 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    August 1 Rate Rs.5,437 per gram
    August 31 Rate Rs.5,190 per gram
    Highest Rate in August Rs.5,691 per gram on 7 August
    Lowest Rate in August Rs.5,158 per gram on 29 August
    Overall Performance Decline

    August 2020 - Week 1 (1 - 9):

    • Gold rate in Salem opened the first week of August at Rs.5,437 per gram and increased throughout the week. The metal was at its lowest on the opening date of the month.
    • The value of gold increased in the city due to increased safe-haven demand and lower risk appetite amongst investors due to a slower economic growth rate.
    • On 7 August, gold price hit record highs at Rs.5,691 per gram and increased marginally on the last day of the month, closing at Rs,5,654 per gram on 9 August.

    August 2020 - Week 2 (10 - 16):

    • Gold rate in Salem opened the second week of August at Rs.5,626 per gram. The rates were down by Rs.28 when compared to the closing price of the previous week.
    • Over the next two days, the rates of the fuel slipped and recorded its lowest price for the month till date on 12th August. A gram was retailed for Rs.5,264 on the mentioned date.
    • While the rates improved gradually, it closed the week at Rs.5,355 per gram. The overall performance witnessed a declining trend in the rates.

    August 2020 - Week 3 (17 - 23):

    • Opening the third week of the month, the gold rate in Salem was Rs.5,325 per gram on 17 August and showed an overall declining trend. The price of the metal increased by Rs.100 and was Rs.5,425 per gram on 18 August.
    • On 19 August, the gold price dipped marginally to Rs.5,414 per gram and further dropped to Rs.5,338 per gram on 20 August.
    • The price of the metal was steady on 21 August at Rs.5,338 per gram and decreased to hit the lowest price of the month till date and closed at Rs.5,300 per gram on 23 August.

    August 2020 - Week 4 (24 - 31):

    • Gold rate in Salem opened the final week of August at Rs.5,243 per gram. Compared to the closing price of the previous week, the rate of the white metal was down by Rs.47 per kg.
    • The rates of the metal slipped over the next two days before increasing to Rs.5,224 per kg on 27th August. The price of gold slipped again and recorded its lowest price for the month on 29th August with a kilo costing Rs.5,158.
    • Gold price improved over the last two days of the month and closed at Rs.5,190 per kg. The metal’s overall performance witnessed a declining trend in the city.

    Trend of Gold Rate in Salem for July 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    July 1 Rate Rs.4,908 per gram
    July 31 Rate Rs.5,381 per gram
    Highest Rate in July Rs.5,381 per gram on 31 July
    Lowest Rate in July Rs.4,841 per gram on 6 July
    Overall Performance Incline

    July 2020- Week 1 (01 - 05):

    • Opening the month at Rs.4,908 per gram, gold prices in Salem showed an overall decline for the first week of July. On 1 July, the value of the metal was Rs.4,908 per gram which was the highest price of the metal in the week. However, on 2 July, the price of the precious metal dipped and was Rs.4,865 per gram with investors shifting away from the bullion market and towards the equities market.
    • On 3 July, the value of the metal dipped further to Rs.4,858 per gram with investors awaiting updates on the economic data and regarding the COVID-19 vaccine. Gold prices dipped further on 4 July at Rs.4,853 per gram and held steady.
    • On the last day of the week, the value of the metal remained unchanged at Rs.4,853 per gram and closed at the same value with an overall decline in value.

    July 2020 - Week 2 (06 - 12):

    • In the city of Salem, the price of the metal opened the second week of the month at Rs.4,841 per gram on 6 July which was the lowest price of the metal since the beginning of the month. The price of gold was trading at a low with risk appetite increasing amongst investors. However, on 7 July, the value of the yellow metal was Rs.4,873 per gram, increasing marginally with the constant rise in the number of fresh cases of COVID-19 all over the world. Gold prices increased and crossed the Rs.4,900 per gram mark at Rs.4,912 per gram on 8 July.
    • On 9 July, the metal hit the highest price of the month at Rs.4,954 per gram as investors shifted away from riskier assets and towards the bullion market. However, investors soon shifted away from the bullion with a higher risk appetite anticipating an economic recovery. This resulted in the gold being priced at Rs.4,927 per gram on 10 July.
    • The price of gold dipped further on 11 July to Rs.4,923 per gram falling marginally due to investors sticking to the equities market amidst the rise in COVID-19 cases. On the last day of the week, the value of the metal remained steady and closed at Rs.4,923 per gram.

    July 2020 - Week 3 (13 - 19):

    • In Salem, a gram of the 24-karat gold was retailed for Rs.4,931 per gram on 13th July. Gold price in the city was up by Rs.8 when compared to the price charged on the final day of the previous week.
    • While gold rates slipped the following day, it increased over the next couple of days and touched its highest price for the month till date on 16th July. A gram of the yellow metal was retailed for Rs.4,954 on the mentioned date.
    • Gold price in Salem closed the third week of July at Rs.4,938 per gram. The rates witnessed an inclining trend over the week.

    July 2020 - Week 4 (20 - 26):

    • Gold price in Salem was Rs.4,930 per gram at the start of the fourth week of July. There was a decline of Rs.8 in the rates when compared to the closing price of the previous week.
    • The price of gold increased in the city over the week and recorded its highest price for the month till date on 25th July.
    • With gold rates seeing no change on the final day of the week in Salem, the yellow metal closed at Rs.5,149 per gram.

    July 2020 - Week 5 (27 - 31):

    • Gold prices in Salem opened the last week of the month at Rs.5,227 per gram on 27 July and increased to Rs.5,264 per gram on 28 July.
    • The metal’s value kept increasing throughout the week due to a lower risk appetite amongst investors. The price of the metal increased to cross the Rs.5,300 per gram on 29 July and increased further.
    • On the last day of the month, the metal hit its highest of the month at Rs.5,381 per gram and closed at the same price on 31 July with an overall incline.

    Trend of Gold Rate in Salem for June 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    June 1 Rate Rs.4,733 per gram
    June 30 Rate Rs.4,858 per gram
    Highest Rate in June Rs.4,877 per gram on 29 June
    Lowest Rate in June Rs.4,657 per gram on 8 June
    Overall Performance Incline

    June 2020 - Week 1 (1 - 7):

    • Gold was priced Rs.4,733 per gram on June 1 in Salem. There was no change in the rates when compared to the closing price of the previous month. This was the highest recorded price of the yellow metal for the month till date.
    • The rates were on a declining trend over the next few days as equities jumped to a three-month high on optimism over global economic recovery. The rates recovered slightly on 5th June and was priced Rs.4,708 in the city.
    • The price of the precious metal slipped further and closed the opening week at Rs.4,648 per gram. This was the lowest price of the metal for the month till date. Gold’s overall performance in the city witnessed a declining trend in the rates.

    June 2020 - Week 2 (8 - 15):

    • In the city of Salem, the price of gold was Rs.4,669 per gram on 9 June and increased by Rs.50 per gram to Rs.4,719 per gram on 10 June. The rise in prices was due to a lower risk appetite amongst investors due to a rise in the number of new COVID-19 cases in many countries. Safe-haven demand of the metal showed an incline and on 11 June, the price of gold increased to Rs.4,764 per gram with investors awaiting the economic projections of the U.S. by the United States Federal Reserve.
    • On 12 June, however, the price of the metal dipped marginally to Rs.4,752 per gram with the value of the dollar recovering in the international market. Gold prices recovered the following day and showed an incline to Rs.4,780 per gram on 13 June with the economic data projections stirring towards a bearish market causing the risk appetite of investors to drop.
    • The price of the metal on 14 June held steady at Rs.4,780 per gram and dipped at the end of the week. On 15 June, the price of the metal showed a decline and closed the week at Rs.4,759 per gram even though the metal showed positive signs in the international market with the United Kingdom showing poor economic data.

    June 2020 - Week 3 (16 - 21):

    • In Salem, gold opened the third week of June at Rs.4,757 per gram. There was a minimal decline of Rs.2 for every gram when compared to the closing price of the previous week.
    • Gold rates increased gradually in the city over the week. The increase in the rates was accounted to increased demand fearing a second wave of coronavirus cases.
    • The precious metal recorded its highest price for the month till date on 20th June with a gram of the 24-karat gold costing Rs.4,838. There was no change in the rates on the final day of the week and closed at the same price. Gold’s overall performance witnessed an inclining trend in Salem over the week.

    June 2020 - Week 4 (22 - 30):

    • In Salem, a gram of the 24-karat cost Rs.4,860 at the start of the final week of June. The rates of the precious metal were up by Rs.22 when compared to what was charged on the final day of the previous week.
    • Gold rates fluctuated over the next couple of days before dropping to Rs.4,831 per gram on 26th June. The decline in the rates was seen as investors turned to the safety of the US dollar and pressured risky assets given a spike in coronavirus cases and mounting economic trolls.
    • The rates of the yellow metal edged higher in the following days and recorded its highest price for the month of June on 29th June with a gram costing Rs.4,877 in the city. It closed the week at Rs.4,858 per gram with the overall performance witnessing an inclining trend.

    Trend of Gold Rate in Salem for May 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    May 1 Rate Rs.4,615 per gram
    May 31 Rate Rs.4,773 per gram
    Highest Rate in May Rs.4,773 per gram on 16 May
    Lowest Rate in May Rs.4,558 per gram from 2 May
    Overall Performance Decline

    May 2020 - Week 1 (1 - 9):

    • In Salem, a gram of the 24-karat gold was priced at Rs.4,615 on 1st May. There was a decline of Rs.49 for every gram when compared to the closing price of the previous week. Over the opening week of May, the rate of the gold witnessed an inclining trend.
    • The drop in the price of gold continued the following day as well. This saw gold record its lowest price in the city for the month to date with a gram costing Rs.4,558. However, gold prices improved over the next few days as the bullion’s safe-haven appeal was bolstered.
    • In the city, the rate of gold dipped on 8th May before increasing and closing the week at Rs.4,675 per gram. This was the highest recorded price of the metal for the month to date. The overall performance of the gold in Salem witnessed an inclining trend in the rates.

    May 2020 - Week 2 (10-16):

    • Opening the second week of the month in Salem at Rs.4,675 per gram on 10 May, gold in the city showed no changes in its prices compared to the previous week’s closing price. The price of the metal remained steady on 11 May at Rs.4,675 per gram with investors analysing the market trends amidst rising cases of COVID-19 all over the world. With this, the price of the metal increased to Rs.4,681 per gram on 12 May due to many countries showing an increasing number of fresh COVID-19 cases.
    • The price of the metal increased marginally on 13 May Rs.4,686 per gram and dipped marginally to Rs.4,665 per gram on 14 May. The incline in prices was due to central banks releasing stimulus packages which supported the gold markets and investors shifted to the bullion market with lower risk appetite. The price of the metal dipped marginally to Rs.4,665 per gram due to a strong dollar value in the international market. This prompted investors with higher risk appetite to shift to the equities market.
    • On 15 May, the price of the metal increased yet again to Rs.4,708 per gram, covering up its losses and increasing in value. This was majorly due to rising tensions between China and the United States of America regarding the trade deal. At the end of the week, the price of the metal increased to hit its highest of the week at Rs.4,773 per gram on 16 May.

    May 2020 - Week 3 (17 - 23):

    • In Salem, gold opened the third week of May at Rs.4,773 per gram. Compared to the closing price of the previous week, the rates of the yellow metal saw no change in the city.
    • Due to worries over the growing tensions between Washington and Beijing and bleak U.S. economic data, gold recorded its highest price for the month till date on 18th May with a gram of the 24-karat costing Rs.4,815.
    • Gold prices slipped in the city following that and cost Rs.4,763 per gram on 20th May. The rates dipped further in the city as investors banked on cash as doubts about the economic recovery persisted. Gold rates improved by Rs.60 for every gram on the last day of the week and closed at Rs.4,771 per gram. In Salem, the yellow metal’s overall performance witnessed an incline in the rates.

    May 2020 - Week 4 (24 - 31):

    • Opening the last week of the month at Rs.4,771 per gram on 24 May, gold prices fluctuated through the week in the city of Salem. The price of the metal dipped marginally on 26 May at Rs.4,749 per gram due to increased risk appetite amongst investors amidst positive Japanese equities data. Gold prices held steady on 27 May at Rs.4,749 per gram with marginal differences in prices in the international market.
    • The price of gold on 28 May dipped by Rs.49 per gram to Rs.4,700 per gram and increased marginally to Rs.4,709 per gram on 29 January. With investors shifting to the bullion market amidst growing tensions between China and the United States of America, gold prices showed marginal gains at the end of the session on 29 January.
    • On 30 January, the price of the metal remained steady at Rs.4,709 per gram and closed the week and the month at Rs.4,733 per gram, increasing by Rs.33 per gram due to rising tensions between the two countries along with riots taking place in the United States of America. At the end of the month, gold closed with an overall monthly incline its prices.

    Trend of Gold Rate in Salem for April 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    April 1 Rate Rs.4,150 per gram
    April 30 Rate Rs.4,664 per gram
    Highest Rate in April Rs.4,734 per gram on 27 April
    Lowest Rate in April Rs.4,150 per gram from 1 - 6 and 8 – 18 April
    Overall Performance Incline

    April 2020 - Week 1 (1 - 4):

    • In the city of Salem, Kerala, gold prices opened the first week of April at Rs.4,150 per gram and did not show any rise or fall in prices for the week. Due to the lockdown imposed in the country, all trading platforms were shut along with any physical buying and selling of the metal as well.
    • The gold in the international market saw continuous fluctuations in prices as traders waited for the United States of America to release their job data. The price of the gold was hovering at an incline.
    • As the dollar value increased in the market, the price of the gold was set to fall. However, with the unemployment rate at a high due to the novel pandemic, COVID-19, the losses for the gold was limited. At the end of the week, in Salem, gold closed at Rs.4,150 per gram.

    April 2020 - Week 2 (5 -11):

    • A gram of gold was priced at Rs.4,150 per gram in Salem at the start of the second week of April. This was the lowest recorded price of the precious metal in the southern city for the month till date.
    • The rates jumped to its highest on 7th April with a gram of the 24-karat gold costing Rs.4,404. It was accounted to expectations of global stimulus measures in order to counter the economic damage caused by the outbreak of Covid – 19. This was the highest recorded price of the metal in the city for the month till date.
    • Having recorded its highest price for the month on 7th April, gold prices eased as the U.S. dollar firmed, while signs of a slowdown in the new coronavirus cases in major hot spots hurt the metal's safe-haven appeal. The yellow metal closed the week at Rs.4,150 per gram in the city.

    April 2020 - Week 3 (12 - 18):

    • In Salem, a gram of gold was priced at Rs.4,150 per gram at the beginning of the third week of April. The price of the metal held steady throughout the week with no changes due to the lockdown going on in the country with bullion trading centres shut for operations.
    • The price of the metal increased to hit its highest on 7th April with a gram of the 24-karat gold costing Rs.4,404. This was majorly due to the stimulus measures taken to mitigate the effect of the virus on the economy. However, in the third week of the month, the price was steady with no change at all.
    • With constant fluctuations in the price of the metal in the international market, gold prices showed heavy inclines with investors speculating a recession. However, with President Trump announcing measures to restart the economy in the country, the price of the metal declined. However, in the city of Salem, the yellow metal closed the week at Rs.4,150 per gram in the city.

    April 2020 - Week 4 (19 - 25):

    • In Salem, gold opened the fourth week of April at Rs.4,150 per gram. There was no change in the rates of the yellow metal when compared to the closing price of the previous week.
    • The rates climbed in the city after staying constant for the next day as investors sought safe havens after oil prices recorded a historic slump. The increase in the prices saw gold prices hit its highest for the month till date on 23rd April with a gram costing Rs.4,759 in the city.
    • Gold closed the penultimate week of the month at Rs.4,755 per gram in Salem. The overall performance showed an incline in the prices over the week.

    April 2020 - Week 5 (26 - 30):

    • In the last week of the month, gold prices in Salem opened at Rs.4,734 per gram on 26 April and were the highest price of the metal in the week and the month. The metal recorded a steady price on 27 April as well due to various global factors in the international market.
    • The price of the metal on 28 April dipped marginally to Rs.4,698 per gram with investors taking to profit booking with the high prices of the precious metal due to which, the price of the metal dipped. On 29 April, gold prices dipped further to Rs.4,645 per gram with higher risk appetite amongst investors as they speculated ease of the lockdown restrictions in the United States of America.
    • Gold, on the last day of the week and the month, closed at Rs.4,664 per gram, recovering marginally with central banks announcing stimulus packages to help mitigate the losses in the economy due to COVID-19. Overall, the metal recorded an incline through the month of April.

    Trend of Gold Rate in Salem for March 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    March 1 Rate Rs.4,185 per gram
    March 31 Rate Rs.4,150 per gram
    Highest Rate in March Rs.4,443 per gram on 6 March
    Lowest Rate in March Rs.4,026 per gram on 19 March
    Overall Performance Decline

    March 2020 - Week 1 (01 - 07):

    • Gold prices in Salem opened at Rs.4,185 per gram in March. With the increased fear of Coronavirus all over the world, the demand for the gold had increased amongst investors due to its safe-haven appeal. By 2 March, the gold had already increased marginally to Rs.4,198 per gram, further increasing to Rs.4,315 per gram on 3 March.
    • The rate of the gold increased further on 4 March to Rs.4,361 per gram. The rise in prices was majorly due to the rate cuts by the Federal Reserve of the United States of America. Gold prices, however, dipped marginally on 5 March, Rs.4,343 per gram due to subdued demand in the country along with a marginally higher risk appetite amongst investors due to the stronger value of the United States dollar in the market.
    • On 6 March, the price of the gold increased by Rs.100 to Rs.4,443 per gram which was the highest price of gold in 7 years. The rise in prices was attributed to the spread of the Coronavirus all over the world which resulting in a higher number of new cases along with a rise in the death toll. On 7 March, the gold rate dipped marginally as the United States dollar capped the gains by the dollar and closed the month at Rs.4,417 per gram.

    March 2020 - Week 2 (8 - 14):

    • Gold prices in Salem opened the second week of March at Rs.4,417 per gram in March. There was no change in the rates of the yellow metal when compared to the closing price of the previous week. The rates slipped to Rs.4,408 per gram the next day as a rout in global equities on concerns over the economic fallout due to coronavirus raised demand for safe-haven assets.
    • The rates jumped to Rs.4,427 per gram on 10 March as some worries about the growth outlook eased following US president Donald Trump’s pledge to take steps to cushion the economy from coronavirus.
    • The rates slipped following that as traders sold the yellow metal to cover margins for stock markets after being spooked by the global spread of coronavirus. Gold closed the week at Rs.4,131 per gram, the lowest recorded price for the month till date in the city with the overall performance showing a declining trend in the rates.

    March 2020 - Week 3 (15 - 21):

    • In the city of Salem, gold opened the third week of March at Rs.4,131 per gram and increased substantially to Rs.4,160 per gram in one day, on 16 March. The price hike of the gold was majorly attributed to the emergency rate cut by the United States Federal Reserve which prompted temporary buying amidst safe-haven appeal. However, on 17 March the price of the gold dipped to Rs.4,064 per gram due to traders selling off their assets to convert them to cash on an urgent basis to survive the lockdown.
    • The gold price on 18 March increased to Rs.4,136 per gram due to marginal safe-haven demand for the gold. However, on 19 March, the gold rate hit its monthly and weekly low till date at Rs.4,026 per gram. With the European Central Bank taking and announcing measures to fight the virus in the economical level, the gold price increased and was Rs.4,104 per gram on 20 March.
    • The gold, amidst safe-haven appeal and demand, saw a rise in price on 21 March at Rs.4,164 per gram and ended the week at the same price.

    March 2020 - Week 4 (22 - 31):

    • In the city of Salem, gold opened the fourth week of March at Rs.4,164 per gram. The rates of the yellow metal remained unchanged when compared to the closing price of the previous week.
    • The rates of gold in Salem witnessed a declining trend over the week. Having opened the rates at Rs.4,164 per gram, the rates of the 24-karat slipped to Rs.4,159 per gram the next as investors stockpiled cash, with a rising numbers of coronavirus-led national lockdowns threatening to overshadow stimulus measures from global central banks to combat the pandemic’s economic damage.
    • On 24 March, gold prices slipped again by Rs.9 per gram before remaining stagnant till the end of the week. The rates remaining unchanged in the city was accounted to the 21-day lockdown which was imposed in the country to contain the spread of coronavirus. The rates of the 24-karat gold closed the week in Salem at Rs.4,150 per gram with the overall performance showing a decline in the prices.

    Trend of Gold Rate in Salem for February 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    1st February Rate Rs.4,077 per gram
    29th February Rate Rs.4,185 per gram
    Highest Rate in February Rs.4,305 per gram on 24 February
    Lowest Rate in February Rs.4,030 per gram on 6 February
    Overall Performance Incline

    February 2020 - Week 1 (1 - 9):

    • The price of the metal in Salem opened the month at Rs.4,169 per gram. There were mixed trends in the metal’s prices through the week due to various global factors, mainly the effect of the virus on the global economy.
    • In the first half of the week, the price of the metal remained steady at Rs.4,169 per gram until 4 February. However, on 5 February, gold prices dipped to Rs.4,158 per gram but not before hitting its highest price of the week at Rs.4,195 per gram on 4 February. Gold prices continued to slip, hitting its lowest of the week at Rs.4,116 per gram on 7 February. This was majorly due to increased risk appetite amongst investors with the Central Bank in China cutting the reverse repo rates.
    • However, the dip in gold prices did not last for long with the virus claiming more lives and affected a larger number of people all over the world. Investors shifted back to the safe-haven asset and gold prices increased. The price of the metal on 9 February was Rs.4,148 per gram.

    February 2020 - Week 2 (10 - 16):

    • Gold prices in Salem started the second week of February at Rs.4,079 per gram. Compared to the previous week’s closing price, there was a drop of Rs.14 for every gram in the rates of the yellow metal.
    • Over the next couple of days, gold prices dipped to Rs.4,057 per gram. This was accounted to the fall of new coronavirus cases and the risk appetite improving even though there was uncertainty over the economic impact of the outbreak.
    • In the latter half of the week, the rates of the yellow metal shot up as hopes for global measures to counter the coronavirus outbreak increased appetite for equities. Gold closed the week at Rs.4,120 per gram with the overall performance showing an incline in the prices.

    February 2020 - Week 3 (17 - 23):

    • On 17 February, the price of gold opened the third week at Rs.4,107 per gram after decreasing by Rs.13 when compared to the previous day’s closing price. The metal’s prices dipped at the beginning of the week with China liquidating funds and lowering the reverse repo rate in order to support their economy. The price of the metal increased marginally to Rs.4,109 per gram on 18 February.
    • However, investors shifted back to the bullion market on 19 February because of the Coronavirus all over the world and on the global economy. With the demand for the bullion increasing, the price of the metal increased to Rs.4,151 per gram and increasing to Rs.4,179 per gram on 20 February.
    • The metal’s prices showed an inclining trend through the second half of the week at Rs.4,213 per gram on 21 February. Gold prices in Salem increased to Rs.4,276 per gram on 22 February and closed the week at the same price.

    February 2020 - Week 4 (24 to 29):

    • In Salem, the price of gold opened the fourth week of February at Rs.4,305 per gram after the rates increased by Rs.29 for every gram when compared to the previous day’s closing price. The opening price was also the highest recorded price of the metal for the month.
    • Given the rapid spread of coronavirus beyond China drove fears of a pandemic and weighed on Asian currencies and global equities, the rates of the yellow metal slipped to Rs.4,264 per gram on 26 February in the city.
    • The rates increased by Rs.22 for every gram the following day as coronavirus scare spurred safe haven flows towards bullion and raised hopes of interest rate cuts by major central banks.
    • Gold closed the week at Rs.4,185 per gram in Salem with the overall performance showing an inclining trend in the prices over the month.

    Trend of Gold Rate in Salem for January 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    January 1 Rate Rs.3,922 per gram
    January 31 Rate Rs.4,074 per gram
    Highest Rate in January Rs.4,125 per gram on 8 January
    Lowest Rate in January Rs.3,919 per gram on 2 January
    Overall Performance Incline

    January 2020 - Week 1 (01 - 05):

    • Gold rates in Salem opened the month at Rs.3,922 per gram and increased through the week as the value of the rupee increased against the dollar in the global markets. Another factor which played a role in the rise in gold prices is the geopolitical factors.
    • After decreasing marginally to Rs.3,919 per gram on 2 January, the price of the yellow metal increased to Rs.3,983 per gram on 3 January as the value of the dollar fell marginally against other currencies. As the value of the rupee rose, the demand for gold increased as well.
    • Due to the drone strike by the United States of America in Iran, the geopolitical tensions between the two countries escalated quickly after President Trump’s remarks. Investors shifted to the bullion in response and the metal closed the week at Rs.4,024 per gram.

    January 2020 - Week 2(06 - 12):

    • Gold rates in Salem opened the week at Rs.4,091 per gram and showed a fluctuating trend throughout the week. As the dollar value fluctuated amidst geopolitical tensions around the United States of America and Iran. On 7 January, the price of gold dipped to Rs.4,035 per gram.
    • On 9 January, the price of the metal dipped yet against to Rs.4,022 per gram soon after hitting the highest price in the week at Rs.3,125 per gram on 8 January. However, as President Trump mentioned that the United States of America will not be taking any action against Iran, gold prices dipped further.
    • The price of the metal dipped on 10 January to Rs.3,983 per gram as investors shifted to the stock market with heavy risk appetite. On 12 January, the price of gold closed the second week of January at Rs.4,011 per gram.

    January 2020 - Week 3 (13 - 19):

    • Gold rates in Salem opened the week at Rs.3,991 per gram and fluctuated throughout the week. With speculations on the trade deal to be signed in the week, the demand for the bullion in the first half of the week was low. On 14 January, the price of the metal dipped to Rs.3,952 per gram.
    • On 15 January, ahead of the signing, investors shifted their focus to the stock market which reduced the demand for the precious metal. The price of gold, however, remained steady at Rs.3,991 per gram and increased to Rs.3,992 per gram on 16 January. However, in the second half of the week, the demand for the metal increased amidst geopolitical tensions.
    • In the second half of the week, the price of gold increased to Rs.3,999 per gram on 17 January and to Rs.4,019 per gram on 18 January. With the tensions in the Middle East rising, the demand for gold increased subsequently as a safe haven for investors. At the end of the week, gold closed at Rs.4,019 per gram.

    January 2020 - Week 4 (20 - 26):

    • Gold price stood at Rs.4,011 per gram on 20 January in Salem. The rates of the precious metal slipped by Rs.8 for every gram when compared to the closing price of the previous week.
    • With investors seeking refuge in the safe-haven metal rates due to concerns regarding the outbreak of coronavirus in China and increasing tensions in the Middle East, gold prices jumped again the next day and touched Rs.4,028 per gram in the city.
    • In Salem, the prices of the yellow metal slipped to Rs.3,997 per gram on 22 January as investors the risk of the deadly coronavirus becoming a global epidemic. The rates increased gradually over the next few days and closed the penultimate week of January at Rs.4,055 per gram.

    January 2020 - Week 5 (27 - 31):

    • As investors were affected by the Coronavirus, the appeal of the stock market reduced and dependence on the bullion increased in the last week of the month. Gold prices opened the month at Rs.4,070 per gram and showed marginal inclines through the course of the week.
    • With investors waiting the decision by the Federal Reserve of the United States of America on rate cuts, the price of the metal dipped to Rs.4,066 per gram on 28 January. The next day, gold hit its lowest price of the week at Rs.4,030 per gram with the help of positive Chinese data on manufacturing good along with the demand increasing for durables from the United States of America.
    • However, as the outbreak of Coronavirus escalated and with the WHO announcing a World Health Emergency, the investors shifted to the bullion yet again due to its safe-haven appeal. The metal closed the month at Rs.4,074 per gram on 31 January.

    Also Check Gold Price in Metro Cities

    Also Check Petrol Price and Diesel Price in Salem

    Gold as an investment in Salem

    Gold in Salem is extensively used for making jewellery with traditional designs. Several jewellers offer hallmarked jewellery offering a wide array of gold articles ideal for several festive occasions.

    Over-the-counter: Gold is sold in retail in the form of bullions, coins and jewellery in Salem. The precious metal has traditionally been a preferred choice of most consumers in Salem as a store of value. Gold as a physical asset is, by and large, viewed a safer investment compared to equities and bank deposits. In addition to various national and international economic transactions, current account deficit and geopolitics, transportation costs and local taxes are included in the price of gold sold in retail chains in Salem.

    Market trade: Several investors prefer buying gold exchange traded funds (ETFs) to physical gold since the former offers higher liquidity and ease of storage. However, gold ETFs are currently on a downward slide owing to falling prices of gold in india and globally. Similarly, gold futures for delivery in the month of August hit the lowest price in a day in six years at 1,134/ounce. Various other factors including sale of over 30 tonnes of gold in the Shanghai spot market recently led to a sharp fall in gold rates.

    Also Check Gold Price in NearBy Cities of Salem

    Read more on Gold

    News About Gold rate in Salem

    • Gold rates cross the Rs.51,000-mark on 4 January 2021

      Gold prices increased by Rs.894 in Mumbai on 4 January 2021 and were at Rs.51,192 for 10 grams. The main reasons for the increase in prices were a positive trend in the international markets and a weak dollar. However, the gains were capped due to a strong rupee. The prices of gold have jumped for the fourth session in a row. The main reason for the increase in the prices was the increase in the number of coronavirus cases all over the world.

      5 January 2021

    • After recording heavy inclines, gold prices drop marginally

      Gold and silver prices showed a marginal decline in the Indian market after a strong trend of the equities market. On the Multi Commodity Exchange, gold futures dipped by 0.15% to Rs.49,879 per 10 grams after closing at Rs.50,175 per 10 grams in its previous session.

      Silver futures also declined by 0.6% to Rs.65,057 per kg. In the previous session, gold futures had increased by 1.5% and silver had inclined by 2.5%. In the international market, gold prices remained steady at $1,863.30 per ounce. Silver prices also remained little unchanged at $24.51 per ounce.

      10 December 2020

    • Gold to face resistance around the Rs.50,700 mark

      The gold futures in India for December had risen on 30 October, tracking the strong trend in the global spot prices. A few analysts have said that the metal will hold onto the crucial support around the Rs.50,000 and resistance has been placed at Rs.50,700 per 10 gram. When it comes to the Multi-Commodity Exchange (MCX), the gold futures contracts for December had been trading higher by 0.26% and reached Rs.50,415 per 10 gram. The December futures for silver had been trading higher by 0.57% and reached Rs.60,516 per kg.

      2 November 2020

    • Domestic Gold Futures ease on rising dollar, but hold Rs.50,400 mark

      Prices of domestic gold and silver fell as US dollar rose , after hopes for a new stimulus package before the presidential elections were dashed by US Treasury Secretary Steven Mnuchin. MCX gold futures fell by Rs.138 - or 0.27% - to Rs.50,404 and silver futures eased to Rs.60,174, down by Rs.1,429 - or 2.32%.

      The rupee dropped to end at 73.38 against the US currency. The dollar index settled at Rs.50,663 per 10 grams on Thursday, and silver at Rs.60,159 per kilogram, excluding GST.

      16 October 2020

    • Gold prices down 6.55% in September, Silver falls as well

      Price of gold remained steady at Rs.50,442 per 10 gram due to rupee appreciation and negative global trends. Gold lost Rs.3,534, or 6.55%, in September but surged 28.55% year-to-date.

      The price of 10 gram 22-carat gold in Mumbai was Rs.46,205 plus 3% GST, while 24-carat 10 gram was Rs.50,442 plus GST. The 18-carat gold was rated at Rs.37,832 in the retail market.

      Spot gold traded low $12.30 at $1,885.74 an ounce.

      Silver prices fell Rs.396 to Rs.59,974 per kg.

      In the futures market, the gold price touched a high of Rs.50,515 and low of Rs.50,183 on the MCX. For the December futures, the yellow metal traded at a low of Rs.48,384 and a high of Rs.56,379.

      Gold futures for December delivery fell Rs.392, or 0.77%, at Rs 50,260 per 10 grams. The February Gold futures edged lower at Rs.328, or 0.65% percent, at Rs 50,387.

      1 October 2020

    • Gold prices down Rs.7000

      Prices of Gold and silver continued to flounder in Indian markets today. On MCX, gold futures dropped 0.4% to Rs.49,460 per 10 gram, while silver fell 1% to Rs.58,473 per kg. In the previous week, prices of yellow metal in India had dropped Rs.2,000 per 10 gram in India while silver dropped Rs.9,000 per kg.

      In global markets, prices of gold remained steady after facing massive lows last week. Spot gold remained little changed at $1,860.19 per ounce as the US dollar rally took a pause. The dollar index dropped 0.14%, after touching a two-month high last week. A softer dollar makes bullion cheaper for investors of other currencies.

      Among other precious metals, silver grew 0.3% to $22.93 per ounce, platinum rose 0.4% to $850.74 and palladium grew 0.1% to $2,217.87.

      30 September 2020

    • Gold prices fall to stand at Rs.51,400 on weak global cues

      The precious metals, gold and silver saw their rates fall as it tracked the trend in international markets, post policy outcome by the U.S. Fed. When the central bank had spoken about the policy statement, it had explained that the prices had been almost close to zero until the inflation was on track to "moderately exceed" the 2% inflation target. The yellow metal prices had fallen by Rs.137 and stood at Rs.53,030 per 10 gram. This was amidst the appreciation of the India Rupee. Silver prices had reduced by Rs.517 to Rs.70,553 per kg. On the MCX, the gold futures had been down by 0.80% (Rs.415) at and stood at Rs.51,409 per 10 grams. The silver futures had fallen by 1.3% (Rs.919) and stood at Rs.67,862 per kg.

      21 September 2020

    • Gold prices increase slightly in India on 7 September 2020

      The prices of gold in India increased by Rs.10 on 7 September 2020 and were at Rs.54,120 for 10 grams. The prices of the yellow metal in the country depend on the excise duty and the making charges. Gold futures prices for the month of October fell by 0.10% and were at Rs.50,690 for 10 grams. Gold prices in the country have reduced after hitting record highs of Rs.56,200 for 10 grams last month. The prices of 22-karat gold in New Delhi, Chennai, and Mumbai are at Rs.49,610, Rs.48,890, and Rs.49,510 for 10 grams, respectively.

      9 September 2020

    • Gold rate drops as hopes of COVID-19 vaccine sparks risk appetite among investors

      In the international market, gold prices dropped on 24 August 2020 as the U.S. drug regulator authorised the use of blood plasma from recovered COVID-19 patients as an option for treatment.

      This move increased the risk appetite amongst investors. Spot gold was down by 0.4% at $1,932.48 per ounce and U.S. gold futures traded at Rs.1,942.60 per ounce, dropping by 0.2%. Asian stocks also showed gains after the United States FDA authorised the blood plasma treatment for the disease.

      Silver prices dropped by 1.6% to $26.26 per ounce as the dollar index held steady against other currencies after hitting one-week highs in the previous session.

      26 August 2020

    • Gold trades over Rs.56,000

      The October gold futures in India had traded over Rs.56,000 per 10 gm in spite of the muted trend which was seen in the international gold rates. The upside may extend towards Rs.56,300 but experts advise investors to book partial profits. Support has been placed at Rs.55,000 per 10 gm. On the MCX, the October gold contracts had been trading higher by 0.37% at Rs.56,050 per 10 gram. The September silver futures had been trading 1.6% higher at Rs.77,306 per kg.

      The gold and silver gains had extended as gold had reached a new high in the international market and silver had reached a new high. Gold had gained over 1% and settled at $2058.40 per troy ounce and silver gained 5.50% and had settled at $28.40 per troy ounce.

      10 August 2020

    • Prices of gold reduce in India on 14 July 2020 due to muted trend

      Gold futures prices for the month of August reduced on 14 July 2020 due to a muted trend in the international markets. According to experts, the yellow metal could see crucial support at around Rs.48,900-Rs.48,750 for 10 grams.

      However, the precious metal could show strength over the next few days. In the international markets, the prices of gold fell below the $1,800-levels on 14 July 2020. According to a report from Reuters, even though the value of the dollar is strong, the tensions between China and the US and the increase in the number of coronavirus cases may ensure that the prices of gold do not fall significantly. The report further added that the prices of gold will be more expensive for other currency holders because of a strong dollar. Gold futures prices on MCX reduced by 0.46% and are at Rs.48,922 for 10 grams. In the previous day, the prices of gold increased. According to experts, gold will still be considered as a safe haven due to the increase in the number of coronavirus cases. Investors move towards gold in case of financial and political uncertainties.

      17 July 2020

    • Gold Futures Hike to Rs.45,900

      The domestic gold futures had given up half of their early gains after jumping nearly 1% and touched Rs.46,100 per 10 grams amidst mild the gains in global rates. The MCX gold futures had risen by Rs.402 per 10 grams to Rs.46,100 as compared to the previous close of Rs.45,698. The gold futures for delivery for the month of August had been up by 0.48% at Rs.45,917 per 10 grams.

      The India Bullion and Jewellers Association (IBJA), had said that the closing rate for gold jewellery was standing at Rs.46,479 per 10 grams, and the white metal, silver was at Rs.47,800 per kilogram.

      9 June 2020

    Gold Rate - Sitemap

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