Gold Rate In Shimla

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Gold Rates in Shimla

When it comes ornamentation, people of Shimla have an extreme love for it, with an apt love for Threading, pictures, wooden potteries, carving are part and parcel of Shimla region. The metal wares include the attractive utensils, ritualistic vessels, silver jewellery, idols.This makes it evident that silver is the more popular precious metal here. But the people also appreciate gold here as well. Hence it is important to know the this city.

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

Trend of Monthly Gold Rate in Shimla for April 2020:

• The gold prices in Shimla for the month of April opened at a Rs.4,253 for 24 Karat gold. This price remained unchanged for the first 20 days of the month. The reason behind prices remaining steady was due to global trends surrounding the coronavirus pandemic. Countries all over the world were forced go into lockdown and practice social distancing norms as fears of a global recession loomed large due to the coronavirus, due to which the global market suffered. However, while investors moved towards more safe-haven investments such as bullions, the prices were held back from rising exponentially due to the dollar holding strong on the back of several economic stimulus measures announced by the US Federal Reserve as well as the central banks of almost every other country.
• As mentioned earlier, the price of gold remained unchanged at Rs.4,253 per gram for 24 Karat gold for the entire week. There was tentative pull towards equities after reports of a slowdown in coronavirus-related deaths coming in from several parts of the world emerged. However, investors decided to turn to gold as a safe-haven investment because of the ever-widening reach of the coronavirus which continued to impact the global economy.
• In the third week of April, gold continued to remain unchanged at Rs.4,253 per gram for 24 Karats, which by now was also the lowest price for gold in the month of April. The price of gold was impacted due to the release of the US payroll data which confirmed a bleak prognosis for the economy as the true impact of the virus became clear with almost every state in the US continuing to be on lockdown. The investors turned to yellow metal after US crude oil futures plummeted to historic lows. The investors continued to be wary of equities and preferred to stick to bullions instead. This was also in response to increasing fears of a global recession which lowered the risk appetite of investors around the world.
• In the last week of April, the prices of gold suddenly started changing, rising abruptly to Rs.4,792 per kg for 24 Karat at the beginning of the fourth week. This was an abrupt increase from the Rs.4,253 that it had remained on for almost 20 days previously. Gold touched its highest price point of Rs.4,846 per gram on 29 April. This was in response to the continuing havoc created due to the impact of Covid-19 around the world with the death toll remaining high. Along with the US dollar weakening, optimism of the economy reopening in the US and other countries also went down, forcing the investors to turn to precious metals as a safe haven in volatile times. The overall trend for gold in Shimla in April thus remained on a firm incline of 11.94% throughout.

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

Gold Rate Trend in Shimla for March 2020:

• Gold rates in Shimla for the month of March opened at Rs.4,274 for a gram. Gold prices increased significantly in the first week. Investors expecting the US Federal Reserve to cut the interest rates due to the coronavirus outbreak was the reason for the prices to increase. On 7 March 2020, gold hit its highest rate for the month and was at Rs.4,536 per gram.
• The second week of March saw the price decrease slightly. The coronavirus outbreak led to many investors selling their assets for cash, ensuring the prices of gold reduced. Gold opened the week at Rs.4,510 for a gram but had reduced to Rs.4,431 per gram by 13 March 2020.
• Gold prices reduced even further in the third week of March. On 16 March 2020, the price of gold was at Rs.4,237 for a gram but had reduced to Rs.4,153 per grams on 18 March 2020. After increasing slightly on 19 March, gold hit its lowest rate for the month on 20 March and was at Rs.4,111 for a gram. Gold closed the week at Rs.4,190 per gram.
• From 22 March 2020 to 31 March 2020, the prices of gold remained stagnant and were at Rs.4,253 for a gram. The US Federal Reserve introduced several measures to help the economy during the coronavirus outbreak. This ensured that gold rates did not fall further. Overall, gold saw a 0.49% decline in its rate for the month of March in Shimla.

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

Gold Rate Trend in Shimla for February 2020:

• The price of gold in Shimla opened at Rs.4,169 per gram on 1 February 2020 and closed at Rs.4,368 per gram on 29 February 2020. Gold rates fluctuated throughout the month of February in the city.
• Over the course of the first two weeks, gold prices fluctuated due to the coronavirus outbreak and the appetite for equities. Gold hit its lowest rate for the month on 7 February 2020 and 8 February 2020 and was at Rs.4,116 per gram. Gold closed the second week of February at Rs.4,169 per gram.
• In the third week of the month, gold opened at Rs.4,211 per gram, seeing a small rise. After remaining stagnant for two days, the prices of gold decreased over the next two days. However, over the last three days of the week, the prices of gold increased due to the coronavirus spreading outside China.
• In the last week of February, the prices of gold increased over the first few days. Gold hit its highest rate during this period as well and was at Rs.4,394 on 25 February 2020 and 26 February 2020. However, as investors booked profits, the prices of gold fell over the last three days of the month. Overall, gold prices saw an incline of 4.77% for the month of February in Shimla.

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

Gold Rate Trend in Shimla for January 2020:

• The gold rates started the month of January at Rs.3,995 per gram. January saw various events play their respective roles regarding the fluctuation of gold prices. As WHO declared Coronavirus as a global epidemic, the assassination of Iranian General Qassem Soleimani which spurred tensions between Iran and U.S., and uncertainty about the trade deal between the United States and China were reasons behind the fluctuations in gold prices.
• 9 January saw Gold recording its highest price for the month with every gram of the yellow metal being traded for Rs.4,211 in the city. This was due to dollar losing its value as tensions between Iran and U.S. escalated. Apart from that the World Bank trimmed its global growth forecast slightly for 2020 which played a role in the traders investing more in safe havens.
• The rates of the yellow metal faded in the city after U.S House of Representatives stopped U.S President Donald Trump from taking any military actions against Iran. The gold prices dropped after Donald Trump announced a phase-1 deal between Beijing and Washington.
• Gold closed the first month of 2020 at Rs.4,169 per gram with the overall performance showing an incline of 4.35% in the prices of the yellow metal.

Trend of Gold Rate in Shimla for December 2019 (rates per gram for 24 karat gold)

Gold Rate Trend in Shimla for December 2019:

• The month of December was overall a good month for the gold rates in Shimla, the capital city of Himachal Pradesh, when it witnessed an incline of 2.27%. Multiple factors contribute to the performance of gold some of which are trade talks between US and China, monetary policy statement of the US Federal Reserve, weakening US economy, etc.
• Gold rates in Shimla at the beginning of the month was recorded at Rs.3,906 per gram and by the end of the month, it increased to reach Rs.3,995 per gram.
• The prices of gold witnessed a fluctuation during the third week of December as the Senate House passed a vote of impeachment against the US President.
• The safe-haven metal recorded its highest rate on 29 and 30 December when it was trading at Rs.4,001 per gram. On the other hand, the lowest price of gold for the month of December was recorded at Rs.3,848 per gram on 14 December.

Trend of Gold Rate in Shimla for November 2019 (rates per gram for 24 karat gold)

Gold Rate Trend in Shimla for November 2019:

• The prices of gold in Shimla for the month of September saw an overall decline of 1.53% due to the trade tensions between the US and China and the weakening of the US dollar.
• On 1 November 2019, the price of gold opened at Rs.3,938 per gram. However, on 30 November 2019, the price of gold had reduced to Rs.3,869 per gram.
• Gold prices in Shimla hit its highest on 3 November 2019 and touched Rs.3,974 per gram. The hike in import duty and the depreciation of the rupee against the dollar were some of the reasons for the increase in prices.
• Gold prices in Shimla hit its lowest on the last day of the month and touched Rs.3,869 per gram.

Trend of Gold Rate in Shimla for October 2019 (rates per gram of 24 karat gold)

Gold Rate Trend in Shimla for October 2019:

• The price of gold opened at Rs.3,864 per gram on 1 October. The price of the yellow metal was Rs.3,880 per gram on the previous day, i.e. on 30 September. This concludes a drop of Rs.16 per gram. The prices dropped further to Rs.3,801 per gram on 2 October after which it started rising, owing to the USA-China trade talks.
• The price of the metal was the highest from 26 October to 29 October with a rate of Rs.3,953 per gram. As investors waited for an update with regard to the Brexit negotiations, there has been a steady rise in the price of gold.
• The month of October ended with the price of gold standing at Rs.3,927 per gram. There was an overall performance boost of 1.63%.

Trend of Gold Rate in Shimla for September 2019 (rates per gram of 24 karat gold)

Trend of Gold Rate in Shimla for August 2019 (rates per gram of 24 karat gold)

Trend of Gold Rate in Shimla for July 2019 (rates per gram of 24 karat gold)

Trend of Gold Rate in Shimla for June 2019 (rates per gram for 24 karat gold)

Gold Rate Trend in Shimla for June 2019:

• Gold rate in Shimla at the start of June stood at Rs.3,276 per gram as local and industrial demand for the yellow metal remained stagnant. This was also the lowest rate the metal stood at for the month.
• The Federal Rate Cut pushed the price of gold to Rs.3,502 per gram on June 25- 27. This was the highest price of gold for the month.
• The ongoing Sino-US trade conflict ensured that the demand for the precious metal remained at a high mark throughout June.
• Gold price closed at Rs.3,486 in Shimla and an overall incline was recorded for the month of June. An overall percentage change of 6.41% was recorded for the month.

Trend of Gold Rate in Shimla for May 2019 (rates per gram for 24 karat gold)

Gold Rate Trend in Shimla for May 2019:

• Gold rate in Shimla opened at Rs.3,266 per gram. However, for reduced demand in the local market the price dropped to Rs.3,229 per gram on May 7.
• Gold price was recorded at Rs.3,313 per gram on May 15, the highest in the entire month, as the safe-haven appeal went up due to the ongoing China-United States trade conflict.
• The price slipped to Rs.3,239 per gram on May 21 as there was drop in demand of the yellow metal. The lowest price for the month was recorded at Rs.3,224 per gram in the same week.
• Gold price in Shimla closed at Rs.3,276 per gram for the month of May.

Trend of Gold Rate in Shimla for April 2019 (rates per gram for 24 karat gold)

Trend of Gold Rate in Shimla for March 2019 (rates per gram for 24 karat gold)

Gold Rate Trend in Shimla for March 2019:

• Fluctuating equity markets and a depreciating rupee resulted in gold prices in Shimla falling sharply after opening at Rs.3,402 per gram despite steady local demand.
• Prices were on the decline as weak overseas cues as looming fears over Brexit abated, with the precious metal falling to Rs.3,302 per gram on 12 March.
• A steadying U.S. dollar reduced local bullion demand due to increased import costs as Asian stocks also saw a boost, with the yellow metal dropping further to Rs.3,281 per gram on 18 March.
• Despite indications of a dovish stance by the Federal Reserve, equities rose on better-than-expected U.S. jobs data as overseas gold offtake stagnated, resulting in local prices falling to Rs.3,239 per gram when the month ended to record a 3.99% overall drop in value.

Trend of Gold Rate in Shimla for February 2019 (rates per gram for 24 karat gold)

Gold Rate Trend in Shimla for February 2019:

• Gold prices in Shimla saw a marginal rise in price as the month progressed after opening at Rs.3,392 per gram on 1 February, with the metal rising to Rs.3,418 per gram on 6 February on strong local demand.
• Fluctuations in the dollar rate and local jeweller demand saw prices drop to Rs.3,376 per gram on 13 February despite investor demand for the metal remaining strong due to uncertainty over Brexit.
• The start of Sino-U.S. trade negotiations and rising uncertainty over the economic impact of Brexit saw a rise in gold’s safe-haven appeal as the metal’s price rose to Rs.3,423 per gram on 17 February.
• Rising fears of a possible economic downturn due to poor U.S. employment data resulted in equities and the dollar rate dropping as investors increased interest in bullion, with gold closing the month at Rs.3,465 per gram to record a 1.06% rise in value.

Trend of Gold Rate in Shimla for January 2019 (rates per gram for 24 karat gold)

Gold Rate Trend in Shimla for January 2019:

• Gold prices in Shimla rose sharply during the middle of the month after opening at a modest Rs.3,234 per gram on 1 January.
• Local retail demand was high due to the wedding season, which also boosted demand from jewellers as the yellow metal traded at Rs.3,297 per gram on 11 January.
• Investors also raised stakes in gold as a hedge against equity market fluctuations as the ongoing government shutdown and Brexit crisis rattled markets, with gold prices rising to Rs.3,334 per gram on 18 January.

• Despite weak interest from Asia, demand for bullion continued to rise as the precious metal traded at Rs.3,344 per gram on 27 January before surging to Rs.3,397 per gram on 31 January.

Trend of Gold Rate in Shimla for December 2018 (rates per gram for 24 karat gold)

Gold Rate Trend in Shimla for December 2018

• The price of gold on December 1 was Rs.3,108 per gram in Shimla. After starting the month at its lowest point, the demand for the yellow metal picked up among the local jewellers. Consequently, its price increased steadily over the week.
• On December 7, gold was traded at Rs.3,197 per gram. After reaching this high, the price stabilised at Rs.3,176 per gram for the next few days. It wasn’t until towards the end of the week that the price soared to reach its monthly high at Rs.3,260 per gram.
• The reasons for this sharp rise were mainly falling equities and an under-pressure dollar, which prompted the investors to move to the safe-haven asset. As the month progressed, global growth worries and trade concerns also played their part.
• These factors, coupled with possible interest rate hikes in by the U.S. Fed Reserve in 2019, took the price of gold in Shimla up to Rs.3,239 per gram on December 31. Overall, the price increased by 4.21%.

Trend of Gold Rate in Shimla for November 2018 (rates per gram)

Parameters	Gold price (24 carat)
November 1 Rate	Rs.3,255 per gram
November 30 Rate	Rs.3,124 per gram
Highest Rate in November	Rs.3,266 per gram on 8 November
Lowest Rate in November	Rs.3,124 per gram on 29 and 30 November
Overall Monthly Performance	Decline
Percentage Change	-4.02%

Trend of Gold Rate in Shimla for October 2018 (rates per gram)

Parameters	Gold price (24 carat)
October 1 Rate	Rs.3,140 per gram
October 31 Rate	Rs.3,260 per gram
Highest Rate in October	Rs.3,271 per gram on 26 October
Lowest Rate in October	Rs.3,140 per gram from 1 to 3 October
Overall Monthly Performance	Incline
Percentage Change	3.82%

Trend of Gold Rate in Shimla for September 2018 (rates per gram)

Parameters	Gold price (24 carat)
September 1 Rate	Rs.3,103 per gram
September 30 Rate	Rs.3,140 per gram
Highest Rate in September	Rs.3,155 per gram on 26 and 27 September
Lowest Rate in September	Rs.3,082 per gram on 4 September
Overall Monthly Performance	Incline
Percentage Change	1.22%

Trend of Gold Rate in Shimla for August 2018 (rates per gram)

Parameters	Gold price (24 karat)
August 1 Rate	Rs.3,050 per gram
August 31 Rate	Rs.3,092 per gram
Highest Rate in August	Rs.3,092 per gram from 31 August
Lowest Rate in August	Rs.3,014 per gram on 20 - 21 August
Overall Monthly Performance	Incline
Percentage Change	1.37%

August 2018 - Week 1 (1 - 5):

• The month began with gold in Shimla trading at Rs.3,050 per gram on the 1st with steady investor demand ahead of the US Federal Reserve’s monetary policy meeting.
• Gold rate in Shimla dropped to Rs.3,045 per gram on the 2nd before plunging further to Rs.3,035 per gram on the 3rd amid the strengthening US dollar.
• With the US dollar gaining against a basket of other emerging currencies ahead of the US Fed statement, demand for the metal plunged considerably during the week.
• The week came to an end with the gold price in Shimla holding at Rs.3,035 per gram on the 5th with subdued but steady demand from local jewellers and industries amid the weak trend overseas.

August 2018 - Week 2 (6 - 12):

• Trading commenced for the week with the gold rate in Shimla holding at Rs.3,035 per gram on the 6th amid poor global cues.
• However, with the US employment data indicating a drop in the number of US jobs contributing to the nation’s economy, the dollar dropped during the week.
• Positive market trends overseas coupled with steady investor demand led to gold in Shimla being priced at Rs.3,029 per gram the 9th of August.
• Strong domestic demand coupled with favourable market cues globally led to the gold price in Shimla holding steady at Rs.3,029 per gram for the remainder of the week.
• However, on the last day of the week, the metal was priced at Rs.3,050 per gram on 12 August.

August 2018 - Week 3 (13 - 19):

• The week opened with the gold rate in Shimla standing at Rs.3,050 per gram on the 13th with domestic bullion markets capitalising on the previous week’s gains.
• With the US greenback losing against other apex currencies, demand for the metal surged during the week.
• This led to gold in Shimla being priced at Rs.3,050 per gram on the 14th before surging to Rs.3,035 per gram on the 15th amid the positive trend overseas.
• However, with the US dollar regaining lost ground over the next few days, investor demand for the metal dropped significantly. This led to gold in Shimla being priced at Rs.3,003 per gram - the lowest recorded monthly figure - on the 17th.
• Poor trends overseas coupled with declining demand led to gold rate in Shimla finishing at Rs.3,014 per gram on the 19th.

August 2018 - Week 4 (20 - 26):

• The fourth week began with gold in Shimla priced relatively higher at Rs.3,014 per gram on the 20th as the US dollar stabilised amid the rising trade war concerns.
• Gold continued to trade at the same rate before surging by Rs.10 to Rs.3,024 per gram on the 22nd amid the positive trend overseas.
• With President Trump criticizing the US Federal Reserve decision to raise interest rates, the greenback tumbled. This led to investors banking on the bullion during the week.
• The week ended with the gold rate in Shimla holding at Rs.3,035 per gram on the 26th with steady demand from market participants amid positive global cues.

August 2018 - Week 5 (27 - 31):

• When trading commenced for the last week, gold price in Shimla was recorded holding at Rs.3,035 per gram on the 27th with steady demand from local industries, jewellers and retailers amid the firm trend overseas.
• With the US dollar losing considerably against a basket other major currencies, demand for the metal surged.
• Gold in Shimla was recorded trading at Rs.3,082 per gram on the 28th which continued to be priced at the same rate the next day ahead of the US Federal Reserve chairman statement.
• Trading closed for the month with the gold rate in Shimla holding slightly higher at Rs.3,092 per gram on the 31st with subdued but steady demand from domestic jewellers and retailers.
• Shimla registered an incline of 1.37% in gold trade during the course of the month.

Trend of Gold Rate in Shimla for July 2018 (rates per gram)

Parameters	Gold price (24 carat)
July 1 Rate	Rs.3,146 per gram
July 31 Rate	Rs.3,082 per gram
Highest Rate in July	Rs.3,165 per gram on 6 and 7 July
Lowest Rate in July	Rs.3,082 per gram on 31 July
Overall Monthly Performance	Decline
Percentage Change	-2.03%

July 2018- Week 1 (1-6)

• The month began with the gold rate standing at Rs.3,124 per gram. A drop when compared to the price recorded at the end of the previous month. This can be associated with the decline in dollar rates.
• Gold prices marginally rose on the 5 July to Rs.3,129 per gram due to a further decline in the dollar value. The dollar was affected by the trade policies with regard to the Federal Reserve increasing interest rates. This created mounting tension in the economy.
• Gold rates held steady in the following few days as the dollar eased ahead of the Federal Reserve's policy meeting (Fed Minutes) for July.
• The gold rate for Shimla increased at the end of the week as it stood at Rs.3,134 per gram on 6 July

July 2018- Week 2 (7-13)

• The precious metal started off strong on Week 2 at Rs.3,140, an increase from the end of last week, that can be associated with a slight fall in dollar rates.
• In spite of the dollar weakening, gold rates in Shimla dropped slightly during the next few days when it stood at Rs.3,134 per gram from 8 - 9 July.
• The price of the metal in Shimla declined further due to an increased dollar while the trade spat between China and the USA escalated. The metal’s price on 12 - 13 July stood at Rs.3,119 and Rs.3,103 per gram respectively.
• The price of the metal in Shimla, at the end of Week 2, remained at Rs.3,103 per gram.

July 2018- Week 3 (14-20)

• Gold price in Shimla commenced at Rs.3,093 at the start of Week 3, a decrease when compared to the price of the metal at the end of Week 2.
• The dollar price continued to climb, which did not have a substantial effect on the gold price in Shimla for the coming few days. As on 14 July up to 17 July, the gold rate stood around Rs.3,092 per gram.
• A weak demand for the precious metal didn’t affect its rate in Shimla.
• US dollar dropped from a three-week high on 19 July, which was surprisingly detrimental to gold rates in Shimla. The rate stood at Rs.3,056 per gram on 19 July.
• At the end of the week, the gold rate in Shimla increased marginally to Rs.3,061 per gram.

July 2018- Week 4 (21-31)

• The week started off with the gold price in Shimla standing at Rs.3,061 per gram, the same as the gold price as on the last day of Week 3.
• The US dollar rate fell to a two-week-low on 23 July. This caused an increment in gold prices in Shimla. The gold rate on 23 July was reported to be Rs.3,082 per gram.
• On 24 July, when the US Treasury yields rose, the price of the precious yellow metal took a beating in Shimla. The gold rate stood on this day at Rs.3,077 per gram.
• On 26 July, the gold rate went down despite a slip in the US dollar after the President of USA, Donald Trump and European Commission President Jean-Claude Juncker agreed to work towards eliminating trade barriers. The price of gold in Shimla stood at Rs.3,066 per gram.
• The gold rate then plunged further, and at the end of the month and the price in Shimla was recorded at Rs.3,056. The percentage change of gold rate in Shimla was recorded to be -2.03%.

Trend of Gold Rate in Shimla for June 2018 (rates per gram)

Parameters	Gold price (24 karat)
June 1 Rate	Rs.3,187 per gram
June 30 Rate	Rs.3,119 per gram
Highest Rate in June	Rs.3,192 per gram on 16 June
Lowest Rate in June	Rs.3,119 per gram on 30 June
Overall Monthly Performance	Decline
Percentage Change	-2.13%

June 2018- Week 1 (1-10)

• Demand for gold in Shimla fluctuated in the first week of June, with the metal opening the month at Rs.3,187 per gram.
• Poor demand from the retail sector coupled with a rising dollar rate affected local prices, as gold fell to Rs.3,155 per gram on 3 June.
• The upcoming summit between the United States and North Korea increased investor confidence in the dollar, as interest in gold continued to fall.
• A possible interest rate hike by the Federal Reserve also resulted in a drop in gold prices, as the metal traded at Rs.3,145 per gram on 5 June.
• There was a minor rise in price as the dollar dropped on the possibility of fresh trade tariffs against China, with gold trading at Rs.3,155 per gram on 7 June.
• Gold continued to rise as local demand rode contrary to prevailing trends with the precious metal’s price rising to Rs.3,187 per gram on 10 June.

June 2018- Week 2 (11-17)

• The second week of June saw gold prices in Shimla fluctuate, though the metal’s opening price was unchanged at Rs.3,187 per gram on 11 June.
• The success of the summit bolstered the dollar, which resulted in demand for gold falling to Rs.3,171 per gram on 12 June.
• Industrial demand was static, but local jewellers reduced offtake due to the high cost of importing gold on account of the strong dollar.
• Gold rose to Rs.3,192 per gram on 16 June as fresh sanctions against China led to the dollar falling across markets, sending investors rushing to buy gold.
• The price fell back to Rs.3,161 per gram as the week ended on 17 June due to poor local and overseas demand.

June 2018- Week 3 (18-24)

• The start of the third week saw gold continue to trade at Rs.3,161 per gram on 18 June as industrial demand for gold was weak due to the high import cost.
• Analysts awaited news on the Federal Reserve’s monetary policy, as investors put off gold purchases, sending gold prices to Rs.3,150 per gram on 19 June.
• Fluctuating demand from local jewellers and the retail market led to prices rising to Rs.3,166 per gram from 20-22 June, but pressure from overseas trends led to prices dropping.
• Gold futures dropped sharply as the dollar saw a resurgence in demand, as gold plunged to Rs.3,124 per gram on 23 June.
• Unstable equity markets pushed investors to invest in gold, as the metal traded at Rs.3,134 per gram on 24 June.

June 2018- Week 4 (25-30)

• There was significant fluctuation in the price of gold in the last week in Shimla, as a drop in retail demand impacted prices negatively.
• Gold opened the week at Rs.3,134 per gram on 25 June, with prices remaining constant for a few days on static demand.
• A sharp drop in Asian stocks due to the effects of the trade tariff dispute led to a surge in interest in gold, which rose to Rs.3,140 per gram on 29 June.
• The possibility of regular interest rate hikes over the rest of the year by the Fed led to a steep drop in demand for gold, which closed the month at Rs.3,119 per gram.

Trend of Gold Rate in Shimla for May 2018 (rates per gram of 24 karat gold)

Parameters	Gold price (24 karat)
May 1 Rate	Rs.3,192 per gram
May 31 Rate	Rs.3,187 per gram
Highest Rate in May	Rs.3,234 per gram on 14 May
Lowest Rate in May	Rs.3,171 per gram on 18 May
Overall Monthly Performance	Decline
Percentage Change	-0.15%

May 2018- Week 1 (1st-6th)

• Gold price in Shimla were on the increase in the first week, though some turbulence was seen due to fluctuating demand.
• The yellow metal opened the month at Rs.3,192 per gram before prices dipped on sluggish local demand.
• International demand for the metal was on the rise as the dollar failed to capitalise on positive market cues.
• Industrial and retail demand was steady, which kept prices from fluctuating too much as the week ended.

May 2018- Week 2 (7th-13th)

• The second week saw gold open at Rs.3,197 per gram on steady demand from both local as well as overseas buyers.
• Gold price in Shimla rose to Rs.3,203 per gram on 8 May as the dollar dipped in early trading on renewed fears of a trade war between the United States and China.
• Industrial demand from Asia was also on the increase, though prices were not impacted much by it.
• A firm dollar and strong equity markets kept gold gains to a minimum, though the yellow metal’s price rose to Rs.3,208 per gram on 11 May.
• Prices did not change much as the week drew to a close on 13 May.

May 2018- Week 3 (14th-20th)

• Gold opened the week at Rs.3,234 per gram on increased demand from investors due to geopolitical tensions affecting equity market performance.
• Dovish comments from the Fed on a possible rate hike also dampened interest in the dollar, though gold price in Shimla fell to Rs.3,213 per gram on 15 May.
• Prices continued to fall as markets bounced back on positive investor sentiment ahead of the planned talks between the U.S. and North Korea.
• Gold fell to Rs.3,192 per gram as the week ended on 20 May on poor demand.

May 2018- Week 4 (21st-27th)

• Gold prices fluctuated during the week due to a strengthening dollar and increasing investor interest in equities.
• The yellow metal was priced at Rs.3,192 per gram on 21 May before prices dipped to Rs.3,182 per gram on 22 May as Sino-U.S. trade war fears diminished after negotiations.
• Demand for gold rose marginally towards the middle of the week as industrial orders rose i spite of a high dollar index.
• Local demand was still muted, though the metal’s price rose to Rs.3,203 per gram on 25 May on positive global cues.
• The revival of talks with North Korea bolstered U.S. equity markets, which dampened interest in gold, leaving prices unchanged as the week ended on 27 May.

May 2018- Week 5 (28th-31st)

• Prices remained more or less constant in the last week of May as there was minimal movement across bullion markets.
• Gold traded at Rs.3,203 per gram on 28 May as demand for the metal was on the decline across major trading platforms.
• Retail demand was stagnant while industrial demand was also falling due to the strengthening dollar.
• Gold rate in in Shimla fell to Rs.3,187 per gram on 29 May, with the price remaining unchanged till the month ended on 31 May.
• The drop in demand for gold and market factors led to gold prices falling by 0.15% over the course of the month.

Trend of Gold Rate in Shimla for April 2018 (rates per gram for 24 karat gold)

Parameters	Gold price (24 karat)
Gold Rate on 1st April 2018	Rs.3,140 per gram
Gold Rate on 30th April 2018	Rs.3,208 per gram
Highest Rate in April	Rs.3,224 per gram on 20 April
Lowest Rate in April	Rs.3,129 per gram on 7 April
Overall Monthly Performance	Incline
Percentage Change	2.16%

April 2018- Week 1 (1st -7th)

• Gold opened the week trading at Rs.3,140 per gram in Shimla as local demand, especially from jewellers was high.
• Fluctuations in the dollar rate due to trade tensions between the U.S. and China led to higher demand for bullion, which led to gold prices rising to Rs.3,161 per gram on 4 April.
• The persistently weak dollar rate resulted in increased orders from Asian industry, though local demand fell on poor retail sales.
• The precious metal dropped to Rs.3,145 per gram on 5 April as equity markets rose in anticipation of positive U.S. economic results.
• Prices dipped further as the week ended, with gold trading at Rs.3,129 per gram on 7 April.

April 2018- Week 2 (8th -15th)

• In spite of prevalent trends, gold prices in Shimla rose to Rs.3,140 per gram as the week began on 8 April on strong local demand.
• The rising dollar rate coupled with stable equity markets led to prices stagnating, as gold prices remained unchanged for a few days.
• The possibility of interest rate hikes led to the dollar gaining, but domestic gold prices remained unaffected.
• The chemical attack in Syria by suspected government forces led to global stock markets falling sharply and higher demand for gold, which rose to Rs.3,166 per gram on 12 April.
• The continued trade tensions between the U.S. and China further pressured the dollar, as gold climbed to Rs.3,197 per gram on 13 April.
• Prices dropped marginally as the week ended, with gold trading at Rs.3,187 per gram on 15 April.

April 2018- Week 3 (16th-22nd)

• Gold prices surged to Rs.3,208 per gram on 16 April as markets evaluated the economic outcomes of the U.S.-led retaliatory airstrikes against Syria.
• Positive U.S. employment figures led to the U.S. Dollar recovering some of its losses, as gold slipped to Rs.3,192 per gram on 17 April.
• Investors once again sought to hedge stock market losses with gold as the precious metal rose to Rs.3,224 per gram on 20 April on strong local as well as international demand.
• Geopolitical tensions between the Koreas as well as impending trade talks with China led to the dollar index falling against a basket of global currencies.
• In spite of favourable market conditions, local gold demand fell as the metal traded at Rs.3,218 per gram on 22 April.

April 2018- Week 4 (23rd-30th)

• Prices fluctuated in the last week of April due to conflicting cues and market trends, with gold opening the week at Rs.3,218 per gram on 23 April.
• The rise in U.S. Treasury yields boosted the dollar, as interest in gold fell due to the high import cost.
• Local retail demand was also on the decline, as gold fell to Rs.3,197 per gram on 24 and 25 April on reduced orders by jewellers.
• Asian shares fell and the U.S. pledged to enforce tougher sanctions on Iran, which negatively impacted stock markets across the world.
• Demand for gold rose marginally as the month ended, with the precious metal’s price rising to Rs.3,208 per gram on 30 April.

Trend of Gold Rate in Shimla for March 2018 (rates per gram for 24 karat gold)

Parameters	Gold price (24 karat)
Gold Rate on 1st March	Rs.3,113 per gram
Gold Rate on 31st March	Rs.3,134 per gram
Highest Rate in March	Rs.3,171 per gram on 25 & 26 March
Lowest Rate in March	Rs.3,098 per gram on 19 & 20 March
Overall Monthly Performance	Incline
Percentage Change	0.67%

March 2018- Week 1 (1st-4th):

• Demand for gold in Shimla fluctuated in the first week of March on conflicting market cues.
• The precious metal was priced at Rs.3,113 per gram on 1 March before prices dropped to Rs.3,108 per gram on 2 March on declining local demand.
• Prices jumped to Rs.3,134 per gram as the week ended on 4 March due to a drop in the U.S. Dollar value and a subsequent increase in orders.

March 2018- Week 2 (5th-11th):

• Prices fluctuated in the second week as gold prices were subject to the vagaries of the equity market and dollar rates.
• Gold opened the week at Rs.3,134 per gram on 5 March on steady demand from local jewellers.
• Prices dropped to Rs.3,119 per gram on 7 March as a recovery by the dollar saw a drop in overseas demand as imports became more expensive.
• Retail demand was also on the decline as the wedding season ended which led to fewer orders from jewellers.
• Prices jumped to Rs.3,140 per gram on 8 March as gold futures picked up and overseas demand rose.
• Prices dropped to Rs.3,134 per gram on 11 March as the week ended.

March 2018- Week 3 (12th-18th):

• Prices declined in the third week as equity markets recovered and the dollar rate was stable after a period of bear runs.
• Gold was priced at Rs.3,134 per gram on 12 March as demand stayed constant on positive cues and sustained buying.
• Prices fell to Rs.3,129 per gram on 15 March as the fallout from the surprise firing of U.S. Secretary of State Rex Tillerson was mitigated and stock markets rose.
• Local demand was still poor as retail demand diminished which led to gold falling to Rs.3,119 per gram on 16 March.
• The drop in demand continued as the week ended, with gold priced at Rs.3,103 per gram on 18 March.

March 2018- Week 4 (19th-25th):

• The drop in price continued in the fourth week as retail demand was flat and overseas demand was on the decline.
• Gold opened the week at Rss.3,098 per gram on 19 March as equity markets in the U.S. were on the upswing after a prolonged period of fluctuations.
• Prices rose to Rs.3,113 per gram on 21 March after a slight rise in industrial demand though the price increase was short-lived.
• The dollar plunged on news of additional sanctions against China as fears of a trade war between the U.S. and China caused investors to offload U.S. Dollars.
• Gold prices jumped to Rs.3,145 per gram on 24 March before ending the week at Rs.3,171 per gram on 25 March on strong global demand.

March 2018- Week 5 (26th-31st):

• The last week of March saw gold prices remain steady for most of the week with the precious metal opening the week at Rs.3,171 per gram on 26 March.
• Jewellers increased demand on favourable cues as well as in anticipation of robust sales.
• Industrial demand was also strong as gold traded at Rs.3,166 per gram on 28 March.
• The U.S. Dollar recovered as the week drew to a close, which resulted in a decline in demand from investors.
• Gold prices fell to Rs.3,134 per gram on 30 March and closed the month at the same rate.

Trend of Gold Rate in Shimla for February 2018 (rates per gram for 24 karat gold)

Parameters	Gold price (24 karat)
Gold Rate on 1st February 2018	Rs.3,077 per gram
Gold Rate on 28th February 2018	Rs.3,129 per gram
Highest Rate in February	Rs.3,161 per gram on 18 & 19 February
Lowest Rate in February	Rs.3,035 per gram on 9 February
Overall Monthly Performance	Incline
Percentage Change	1.68%

February 2018 - Week 1 (1 - 4):

• When February’s trading began in Shimla, gold was priced at Rs.3,077 per gram.
• Demand for the precious metal was steady for the first week and, as a result of this, gold price in Shimla remained unchanged.
• When the week came to an end, gold was still trading at Rs.3,077 per gram.

February 2018 - Week 2 (5 - 11):

• The second week of February began with gold trading at Rs.3,082 per gram as local demand saw a slight increase.
• However, on the 6th, gold rate in Shimla went down to Rs.3,066 per gram owing to the rallying of the stock market.
• Demand remained flat for the next two days i.e., the 7th and the 8th and gold continued to trade at Rs.3,066 per gram because of this.
• On the 9th, gold price in Shimla went further down to Rs.3,035 per gram - the month’s lowest rates - as some important non-farm data spurred the equity market/
• As cues improved and as dollar subsided, gold rates went up to Rs.3,050 per gram before rising again to Rs.3,056 per gram on the final day of this week.

February 2018 - Week 3 (12 - 18):

• The third week’s trading commenced with gold trading at Rs.3,056 per gram.
• Rates soon rose to Rs.3,087 per gram on the 13th as the US dollar declined and demand improved. The next day saw gold price in Shimla rise to Rs.3,098 per gram as demand continued to remain positive.
• On the 15th, the precious metal’s prices went further up to Rs.3,103 per gram as demand from retailers increased - who stocked up to meet the valentine’s day demand.
• As the US dollar continued to fall, gold investors saw an opportunity to invest. This caused rates to go up to RS.3,140 per gram on the 16th of the month.
• Gold rate in Shimla were the same on the 17th but surged to hit Rs.3,161 per gram on the final day of this month.

February 2018 - Week 4 (19 - 25):

• On the 19th, when the fourth week of February started, gold was priced at Rs.3,161 per gram which then dropped to Rs.3,150 per gram the next day.
• With the dollar clawing back after falls during the previous week, gold sales seemed to dwindle, leading gold to trade at Rs.3,134 per gram on 21st February.
• The next two days also witnessed prices fall with the metal selling at Rs.3,124 per gram and Rs.3,119 per gram respectively.
• The last day of this week, though, saw gold rate in Shimla improve slightly to end at Rs.3,124 per gram.

February 2018 - Week 5 (26 - 28):

• During the final week of February, gold rate in Shimla fluctuated quite a bit.
• On the 26th, the metal traded at Rs.3,124 per gram before rising to sell at Rs.3,134 per gram on the 27th of the month.
• The month drew to a close with gold selling at Rs.3,129 per gram.
• Gold price in Shimla trends saw a 1.68% increase this month, thanks to the robust demand seen during the second and third week of the month.

Trend of Gold Rate in Shimla for January 2018 (rates per gram for 24 karat gold)

Parameters	Gold price (24 karat)
Gold Rate on 1st January 2018	Rs.3,010 per gram
Gold Rate on 31st January 2018	Rs.3,066 per gram
Highest Rate in January	Rs.3,120 per gram on 24 and 25 January
Lowest Rate in January	Rs.3,010 per gram on 1, 2 and 3 January
Overall Monthly Performance	Incline
Percentage Change	1.19%

January 2018 - Week 1 (1st to 7th):

• The month began in Shimla with the yellow metal priced at Rs.3,010 per gram on the 1st with steady local demand from jewellers and retailers.
• Gold price in Shimla remained unchanged at Rs.3,010 per gram for the next couple of days with demand stabilising amid firm trends overseas.
• Prices surged to Rs.3,045 per gram on the 4th before plummeting to Rs.3,030 per gram on the 5th after the US dollar index gained against other apex currencies ahead of the US job data.
• With the US employment data proving to be weaker than expected, the US greenback declined. This resulted in the gold rate in Shimla surging to Rs.3,045 per gram on the 6th.
• An increased demand brought about by the positive trends overseas led to gold rates surging further to Rs.3,050 per gram on the 7th.

January - Week 2 (8th to 14th):

• The second week opened with the bullion trading at Rs.3,050 per gram on the 8th owing to steady domestic demand brought about by firm global cues.
• Prices dropped to Rs.3,045 per gram on the 9th before rebounding to Rs.3,051 per gram the next day with the greenback hitting record low figures in the global trade.
• Gold rate in Shimla plummeted again to Rs.3,041 per gram on the 11th with the US dollar gaining against other emerging currencies.
• However, with the precious metal hitting near seven-week high figures in the world bullion trade, gold price in Shimla surged to Rs.3,061 per gram on the 12th.
• The 13th saw rates surging further to Rs.3,078 per gram with the equity markets declining amid the weakened US dollar index.
• The week came to an end with gold trading as high as Rs.3,099 per gram on the 14th after investors mulled over by the poor dollar performance hedged on the bullion.

January 2018 - Week 3 (15th to 21st):

• Strong global demand coupled with firm trends overseas led to gold rate in Shimla opening at Rs.3,099 per gram on the 15th.
• The yellow metal prices were recorded holding at Rs.3,099 per gram on the 16th before rising to Rs.3,115 per gram the next day due to an increase in domestic demand for the metal.
• However, with the US dollar index regaining lost ground over the next few days, demand for the bullion dropped.
• Steady domestic demand from local jewellers and industries despite the uneven global cues resulted in gold being priced at Rs.3,095 per gram until the 20th.
• The week concluded with gold price in rising to Rs.3,115 per gram on the 21st after the US dollar dropped against a basket of other major currencies.

January 2017 - Week 4 (22nd to 28th):

• The fourth week commenced in Shimla with the bullion prices holding steady at Rs.3,115 per gram on the 22nd.
• Though gold rates dropped to Rs.3,110 per gram the next day, prices rose to Rs.3,120 per gram - the highest recorded monthly figure - on the 24th owing to strong global demand amid the weakened US dollar.
• However, with the US dollar recovering from the previous rally of losses, gold prices declined towards the end of the week.
• Reduced domestic demand coupled with poor global trends over the next few days resulted in gold being priced at Rs.3,077 per gram on the last day of the week.

January 2018 - Week 5 (29th to 31st):

• The last week began in Shimla with the yellow metal prices holding steady at Rs.3,077 per gram on the 29th with steady demand from the previous week.
• The next day saw gold prices plunging to Rs.3,066 per gram after the US greenback gained against other apex currencies in the global trade.
• Trading concluded for the month with the bullion priced at Rs.3,066 per gram on the 31st and Shimla recorded an increase of 1.86% in gold rates during the course of the month.

Trend of Gold Rate in Shimla for December 2017 (rates per gram for 24 karat gold)

Parameters	Gold price (24 karat)
Gold Rate on 1st December 2017	Rs.3,016 per gram
Gold Rate on 31st December 2017	Rs.3,020 per gram
Highest Rate in December	Rs.3,036 per gram from 2 to 4 December
Lowest Rate in December	Rs.2,910 per gram on 11 to 13 December
Overall Monthly Performance	Incline
Percentage Change	0.13%

December 2017 – Week 1 (1st to 10th)

• Gold rates in Shimla were highly influenced by the trends in the international business, interest rates, inflation, import tax, currency variations, government regulations, market demand, and Indian jewelry markets.
• When trading began in Shimla, the gold price on the 1st day was Rs.3,016 per gram.
• On the 2nd, prices rose by Rs.20 to Rs.3,036 per gram - highest recorded price during the month. This price sustained the same until December 5, 2017.
• With the U.S. dollar gaining considerably amidst the company equities in the week, the yellow metal price on the 6th plummeted to Rs.2,998 per gram and even more on the seventh.
• The gold price for the seventh and eighth day was Rs.2,983 per gram respectively.
• Though there were a few variations, there was a good decline after that. The gold price on the tenth day was Rs.2,955 per gram.
• The week ended with a drastic demand for gold from retailers, local jewelers, and a few other industries.

December 2017 – Week 2 (11th to 17th)

• Gold is extremely sensitive to the rising interest rates in the U.S. market, which increases the overall cost to hold a non-yielding bullion. This, in turn, boosts the dollar currency at which it is rated.
• On December 11, 2017, there was a marginal turn down in the global demand. Hence, the gold trade opened with Rs.2,955 per gram.
• On the other markets, the global stocks rose significantly and the equity volatility reached a record much lower on the second week even after the rate decisions the Central Bank made.
• On the twelfth, thirteenth, and fourteenth, prices declined further to Rs.2,940 per gram. Besides being the same, the prices of these three days were also recorded to be the lowest of the month.
• On the fifteenth, the price of the yellow metal was inclined by Rs.20, making it to Rs.2,960 per gram.
• The dollar rate gradually recovered halfway and rates plunged to Rs.2,945 per gram on the sixteenth, which rose to Rs.2,955 per gram on the seventeenth with an increase in domestic demands.

December 2017 – Week 3 (18th to 24th)

• On the eighteenth, gold was trading at Rs.2,950 per gram, which remained untouched on the next day too.
• On the twentieth, the pending tax legislation of U.S. pressured their currency and affected the gold rate as well. It was appended to Rs.2,960 per gram.
• The global stocks plunged with millions of investors taking gains after the recent increase in the technology sector. Consequently, this resulted in gold rates varying over the next three days.
• As a result of the revised tax cuts, the Asian stock market collapsed. This led to prices inclining to Rs.2,985 per gram on the twenty-third.
• The week concluded with a steady demand for gold from the local jewelers and a few other industries.

December 2017 – Week 4 (25th to 31st)

• Gold trade in Shimla for the fourth week commenced with the metal priced at Rs.2,985 per gram.
• On the twenty-sixth, with the U.S. dollar losing against a few apex currencies, there was a steady demand in the international market and this led to the metal being priced at Rs.2,975 per gram.
• The price rose by Rs.10 for the next two days with the dollar rate being cut down against the euro. The bullion was recorded trading at Rs.2,985 per gram and Rs.2,995 per gram on the twenty-seventh and the twenty-eightieth respectively.
• Apart from the geopolitical concerns on North Korea and declines in the dollar rate, gold managed to rise by 0.13% at the end of the week. These factors resulted in an increased demand for the safe-haven assets like gold.
• The week concluded with the metal being priced at Rs.3,015 per gram and Rs.3,020 per gram on the last two days.

Trend of Gold Rate in Shimla for November 2017 (rates per gram for 24 karat gold)

Parameters	Gold price (24 karat)
Gold rate on 1st November 2017	Rs.3,006 per gram
Gold rate on 30th November 2017	Rs.3,026 per gram
Highest Rate in November	Rs.3,060 per gram from 18 to 20 November
Lowest Rate in November	Rs.3,006 per gram on 1 November
Overall Monthly Performance	Incline
Percentage Change	0.66%

November 2017 - Week 1 (1st to 5th)

• Gold was priced at Rs.3,006 per gram on the 1st when the week commenced in Shimla.
• Gold price in Shimla surged to Rs.3,020 per gram on the 2nd due to an incline in domestic demand from local jewellers, retailers and industries.
• However, the rest of the week saw gold rate in Shimla remaining low amid the strong US dollar index coupled with firmer equity markets.
• Gold price in Shimla were recorded at Rs.3,015 per gram on the 3rd, which dropped to Rs.3,010 per gram on the 4th amid the poor trend overseas.
• The week concluded with the precious metal trading steady at Rs.3,010 per gram on the 5th, thanks to steady local demand despite the poor global trends.

November 2017 - Week 2 (6th to 12th)

• When the week began, the precious metal was recorded trading at Rs.3,005 per gram on the 6th with the dollar gaining against other major emerging currencies and firm equity markets.
• The 7th, however, saw gold price in Shimla surging to Rs.3,025 per gram after a positive trends overseas led to an increase in local buying by jewellers, industries and retailers.
• A poorly performing dollar coupled with weaker equities resulted in gold trading higher for much of the week.
• The yellow metal was recorded trading at Rs.3,035 per gram on the 8th which continued on to the next day amid steady global demand for the metal.
• Gold rate in Shimla surged further to Rs.3,045 per gram on the 10th as the dollar weakened amid the possibilities of the US Federal Reserve raising its benchmark interest rates in December.
• Positive global trends coupled with an increase in orders from the Asian continent led to gold rates remaining untouched at Rs.3,045 per gram until the 12th.

November 2017 - Week 3 (13th to 19th)

• The third week began with the yellow metal trading relatively lower at Rs.3,035 per gram on the 13th due to a drop in domestic demand for the metal.
• However, global demand surged with the rising geopolitical crisis during the week with investors leaning onto the commodity markets.
• Gold was recorded trading at Rs.3,045 per gram on the 14th before it surged to Rs.3,050 per gram on the 15th following the rise in demand for safe-haven assets such as gold amid the Saudi Arabia and Iran conflicts.
• The US dollar, however, recovered from the initial shock with the equity markets regaining lost ground. This led to gold prices plunging to Rs.3,040 per gram on the 16th.
• Gold rate in Shimla plummeted further to Rs.3,030 per gram on the 17th but soon rebounded to Rs.3,060 per gram on the 18th after the political uncertainty in the Middle East restored safe-haven appeal for the metal.
• The week concluded with the precious metal trading at Rs.3,060 per gram amid positive trends overseas.

November 2017 - Week 4 (14th to 19th)

• Strong demand coupled with positive global trends led to gold opening at Rs.3,060 per gram on the 20th of November.
• But with the dollar regaining lost ground and equities market recovering from the previous week’s downfall, gold rate in Shimla plunged to Rs.3,035 per gram on the 21st.
• Prices dropped further to Rs.3,026 per gram on the 22nd amid poor global cues, but an increased buying by jewellers and industries on the 23rd led to gold rates rebounding to Rs.3,046 per gram.
• Despite the strong trends overseas, demand for the metal plummeted. This led to the yellow metal prices dropping to Rs.3,036 per gram on the 25th.
• A subdued but steady demand for the metal against the strengthening US dollar resulted in the bullion metal being priced at Rs.3,036 per gram for the rest of the week.

November 2017 - Week 5 (27th to 30th)

• The final week commenced with the precious metal trading at Rs.3,045 per gram on the 27th after a positive trend overseas led to an increase in domestic demand for the metal.
• With investors mulled over the possibilities of the raising the Federal Reserve’s benchmark interest rates in December, the bullion metal was recorded trading at Rs.3,040 per gram on the 28th and the 29th.
• When trading concluded for the month, gold price in Shimla had dropped to Rs.3,026 per gram on the 30th following a decline in domestic as well as global demand amid the weak trends overseas.
• Shimla recorded a profit of 0.66% in bullion trade during the course of the month owing to various global as well as domestic factors that pushed demand higher for the metal.

Gold Investment Opportunities in Shimla

Women from Kulu, Sirmaur, Kinnaur, Panchwati and Bharmour region wear attractive jewellery. Wide variety of architectural works, temples, objects, museums, shops, galleries chastised every tourist. The Himachalis are fond of dance and music. They are mainly spiritual and mainly used to invoke gods and goddesses during festive seasons. This also lead to believe that people in Shimla appreciate the yellow metal and use it as an investment option as well.

Physical Gold: If you are buying gold in Madhya Pradesh, you have a variety options. This includes buying gold coins from jewelers as well as banks who offer products that are variegated in prices based on individual’s investment requirement and budget. Gold ornaments include chains, anklets, earrings, amulets, nose rings and rings which serve both as an investment along with being an accessory. Gold statues of gods and goddesses are also popular in Shimla, with their demand peaking during festivals and religious processions during Akshaya Tritiya and Diwali. Gold in banks are slightly more expensive. But then again you have the advantage of gold that is certified and checked and you can be assured about the purity.

Market Trade: In this state one can purchase gold through the markets, with gold being traded in the National Multi Commodity Exchange, National Commodity and Derivatives Exchange and the Multi Commodity Exchange. This is apt for individuals willing to purchase gold in bulk, with the minimum trading limit being set at 1 kg in general. It's a viable option for people who are well aware of the gold market and all that affects it.