• Gold Rate In Shimla

    Daily Gold Rates
    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    10 Dec 2018 ₹ 3,025 ₹ 24,200 ₹ 3,176 ₹ 25,408
    09 Dec 2018 ₹ 3,025 ₹ 24,200 ₹ 3,176 ₹ 25,408
    08 Dec 2018 ₹ 3,025 ₹ 24,200 ₹ 3,176 ₹ 25,408
    07 Dec 2018 ₹ 3,045 ₹ 24,360 ₹ 3,197 ₹ 25,576
    06 Dec 2018 ₹ 3,015 ₹ 24,120 ₹ 3,166 ₹ 25,328
    05 Dec 2018 ₹ 3,015 ₹ 24,120 ₹ 3,166 ₹ 25,328
    04 Dec 2018 ₹ 2,980 ₹ 23,840 ₹ 3,129 ₹ 25,032
    03 Dec 2018 ₹ 2,960 ₹ 23,680 ₹ 3,108 ₹ 24,864
    02 Dec 2018 ₹ 2,960 ₹ 23,680 ₹ 3,108 ₹ 24,864
    01 Dec 2018 ₹ 2,960 ₹ 23,680 ₹ 3,108 ₹ 24,864

    *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 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 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.
    Parameters Gold Price (per gram for 24K gold)
    Gold Rate on 1st October 2017 Rs.3,063 per gram
    Gold Rate on 31st October 2017 Rs.3,026 per gram
    Highest Rate in October 2017 Rs.3,072 per gram from 12 to 16 October
    Lowest Rate in October 2017 Rs.3,026 per gram on 27, 30 and 31 October
    Overall Monthly Performance Decline
    Percentage Change -1.20%

    October 2017 - Week 1 (1st to 8th)

    • The bullion metal opened trading at Rs.3,063 per gram on account of steady demand from local jewellers and industries.
    • The next few days witnessed gold rates declining significantly with the dollar strengthening amid the possibility of an interest rate hike by the US central bank in December. The gold price in Shimla was priced at Rs.3,043 per gram on the 3rd.
    • Firm equity markets and strong dollar rates during the week led to gold being priced at Rs.3,043 per gram and Rs.3,033 per gram on the 4th and 5th respectively.
    • Poor global demand despite strong favourable geopolitical concerns led to the gold rate in Shimla dropping to Rs.3,028 per gram on the 6th.
    • Prices, however, surged over the next couple of days with the government making KYC (know your customer) mandatory throughout the country. This led to gold price in Shimla surging to Rs.3,046 per gram on the 7th and the 8th.

    October 2017 - Week 2 (9th to 15th)

    • The domestic bullion trade was greatly influenced by the strong trend overseas coupled with the arrival of the festive season during the second week.
    • Gold was recorded trading at Rs.3,057 per gram on the 9th.
    • An increase in local demand resulted in gold rate in Shimla surging to Rs.3,072 per gram on the 12th. The increase in demand was due to the positive feedback from consumers on the mandated KYC norms.
    • Steady domestic demand ahead of the festive season resulted in gold being priced at Rs.3,072 per gram from the 13th to the end of the week.

    October 2017 - Week 3 (16th to 22nd)

    • The third week saw gold price in Shimla decline significantly due to poor global trends and the festive effect wearing off during the week.
    • When the week commenced, the precious metal was recorded trading high at Rs.3,072 per gram on the 16th.
    • A strong dollar index and poor trends overseas led to gold rate in Shimla declining to Rs.3,067 per gram and Rs.3,056 per gram on the 17th and 18th respectively.
    • Gold trade remained weak despite the auspicious occasion of Dhanteras and the bullion metal was priced at Rs.3,057 per gram on the 19th.
    • Despite the arrival of Diwali, poor domestic demand led to prices remaining at Rs.3,057 per gram on the 20th.
    • The last two days of the week witnessed gold rates decline further to Rs.3,047 per gram despite the nuclear prowess of North Korea affecting the US economy.

    October 2017 - Week 4 & Week 5 (23rd to 31st)

    • The final week began with the precious metal trading lower at Rs.3,041 per gram on the 23rd with the dollar strengthening against other apex currencies.
    • The dollar, however, slipped the next day and the yellow metal was recorded trading at Rs.3,046 per gram.
    • However, prices plunged over the next few days as investors suspended gold purchases amid the possibility of an interest rate hike by the US Federal Reserve. This led to rates dropping to Rs.3,031 per gram on the 26th.
    • The 27th witnessed gold rates decline further to Rs.3,026 per gram - the lowest recorded monthly figure - on account of subdued demand from local jewellers, industries and retailers amid strong equity markets.
    • Though prices recovered to Rs.3,036 per gram on 28th and the 29th due to an increased buying by local jewellers amid positive global leads, the yellow metal plunged again to Rs.3,026 per gram on the 30th as the markets remained cautious ahead of major central banks’ policy meetings.
    • The month ended with the precious metal trading at Rs.3,026 per gram registering a decline of 1.20% in bullion prices.
    Parameters Gold price (24 karat)
    Gold rate on 1st September Rs.3,024 per gram
    Gold rate on 30th September Rs.3,063 per gram
    Highest Rate in September Rs.3,130 per gram on 8 September
    Lowest Rate in September Rs.3,024 per gram on 1 September
    Overall Monthly Performance Incline
    Percentage Change 1.27%

    September 2017 - Week 1 (1st-10th)

    • Gold trade started off in Shimla opened with gold trading at Rs.3,024 per gram on the 1st.
    • Steady demand for the metal over the next couple of days resulted in prices staying static at Rs.3,029 per gram on the 2nd and the 3rd.
    • Safe-haven investments saw a rise around the world after the North Korean government confirmed their nuclear weapon tests. The led to gold prices rise to Rs.3,105 per gram on the 4th.
    • Investors and retailers ramped up their purchases on the 5th, leading to gold rates rising to Rs.3,115 per gram.
    • Steady demand for the metal resulted in gold trading at Rs.3,115 per gram the next day as well.
    • Gold rates in Shimla dropped to Rs.3,100 per gram on the 7th as demand declined in the domestic trade.
    • North Korea’s confirmation on its successful latest nuclear weapon tests brought down the US economy. This resulted in gold prices surging to Rs.3,130 per gram on the 8th. This was highest recorded monthly figure in Shimla.
    • Gold price in Shimla dropped marginally to Rs.3,125 per gram on the 9th that continued on to the next day, thanks to steady demand from stockists and retailers.

    September 2017 - Week 2 (11th-17th)

    • The third week started on a relatively low note with gold trading at Rs.3,105 per gram on the 11th.
    • Gold rate in Shimla slid further to Rs.3,085 per gram on the 12th after investors and jewellers suspended their purchases.
    • The strengthening of the US dollar led to subdued demand for the metal in the global market. This resulted in gold rates falling to Rs.3,085 per gram on the 14th.
    • Gold rate in Shimla remained unchanged at Rs.3,085 per gram for the rest of the week, thanks to steady demand for the precious metal.

    September 2017 - Week 3 (18th-24th)

    • The week began with the precious metal trading at Rs.3,073 per gram on the 18th.
    • Global demand fluctuated with the US dollar recovery and prices slid to Rs.3,056 per gram the next day.
    • The rising tensions between the US and North Korea led to an incline in safe-haven investments. This resulted in gold rising to Rs.3,078 per gram on the 20th.
    • The 21st witnessed the yellow metal prices falling to Rs.3,051 per gram due to uneven global cues and poor demand for the metal.
    • However, gold rate in Shimla bounced back to Rs.3,078 per gram with the imminent arrival of the festive season pushing gold sales up on the 22nd.
    • Gold price in Shimla fell to Rs.3,058 per gram on the 23rd due to reduced demand after the recovery of the US economy.
    • The week ended with gold trading at Rs.3,058 per gram on the 24th, thanks to steady demand for the precious metal.

    September 2017 - Week 4 (25th-30th)

    • The final week of September in Shimla opened with gold priced at Rs.3,051 per gram on the 25th.
    • Demand for the yellow metal spiked with the arrival of Dussehra as consumers pushed up gold sales in Shimla. This led to gold being priced at Rs.3,110 per gram on the 26th.
    • But, the news about a possible Fed rate hike resulted in the dollar strengthening, and gold prices slid to Rs.3,085 per gram on the 27th.
    • With the US economy having recovered, demand for the metal dropped globally.
    • Gold rate in Shimla dropped to Rs.3,067 per gram on the 28th, which further fell to Rs.3,057 per gram on the 29th.
    • Local trade witnessed a slight increase in demand, which led to prices rise to Rs.3,063 per gram on the last day of the month.
    Parameters Gold price (24 karat)
    Gold Rate on 1st August Rs.2,960 per gram
    Gold Rate on 31st August Rs.2,999 per gram
    Highest Rate in August Rs.3,017 per gram on 28 August
    Lowest Rate in August Rs.2,930 per gram 3 August and 5 to 7 August
    Overall Monthly Performance Incline
    Percentage Change 1.31%
    Parameters Gold price (24 karat)
    July 1st Rate Rs.2,992 per gram
    July 31st Rate Rs.2,950 per gram
    Highest Rate in July Rs.2,992 per gram on 1 & 2 July
    Lowest Rate in July Rs.2,843 per gram on 12 & 13 July
    Overall Monthly Performance Decline
    Percentage Change -1.40%

    July 2017 - Week 1 (1 - 9):

    • Gold traded at Rs.2,992 per gram on 01st July 2017.
    • Due to a sustained demand, prices remained unchanged on the 2nd before dropping to Rs.2,972 per gram on the 3rd as global demand went down.
    • Prices went down again on the 4th to Rs.2,942 per gram - nearing eight-week lows - as the US dollar surged ahead of other currencies.
    • On the 7th, gold prices went down to Rs.2,922 per gram - as the dollar kept strengthening - and went down to Rs.2,902 per gram on the 8th.
    • When the week came to an end on the 9th, gold was still trading at Rs.2,902 per gram.

    July 2017 - Week 2 (10th - 16th)

    • Gold continued to trade at Rs.2,902 per gram but fell to Rs.2,872 per gram on the 11th of July.
    • Gold prices fell further on the 12th of July to Rs.2,863 per gram and remained stable till the 13th of July.
    • The 14th of July gold prices increased slightly and traded at Rs.2,863 per gram.
    • The sudden fall was complemented by an increase in prices as a weakening dollar pushed gold rates up.
    • When the week ended, gold was still trading at Rs.2,863 per gram.

    July 2017 - Week 3 (17th - 23rd)

    • When the third week of July commenced, gold was still trading at Rs.2,863 per gram.
    • As gold price in Shimla rising in the global market, rates in Shimla saw a considerable increase as well.
    • Prices went up to Rs.2,873 per gram on the 18th but dropped on the 19th and fell to Rs.2,883 per gram and remained the same on the 20th of the month.
    • A weakening dollar led to a price drop internationally, which pushed domestic prices up.
    • On 21st of July, gold price in Shimla increased as demand picked up and traded at Rs.2,908 per gram.
    • Prices further increased on the 22nd of July when gold prices increased to Rs.2,944 per gram and remained the same till the 25th of July.
    • Gold closed at Rs.2,944 per gram.

    July 2017 - Week 4 (24th - 31st)

    • The final week of July saw gold price in Shimla fluctuate considerably due to several domestic and global factors.
    • On the 24th of July, gold rate in Shimla were recorded at Rs.2,944 per gram and remained the same til, the 25th.
    • The 26th however saw rates dip to Rs.2,929 per gram due to a collectively subdued demand from domestic jewellers.
    • On 27th of July, gold prices went up and traded at Rs.2,950 per gram.
    • Gold traded at Rs.2,945 per gram and Rs.2,955 per gram on the 28th and 29th of July respectively.
    • On 29th and 30th July gold prices picked up and traded at Rs.2,955 per gram before falling to Rs.2,950 gram on 31st July.
    • Despite a late flourish, gold prices saw a decline of 1.40% for the month of July.
    Parameters Gold price (24 karat)
    June 1 Rate Rs.3,012 per gram
    June 30 Rate Rs.2,992 per gram
    Highest Rate in June Rs.3,057 per gram on 7 June
    Lowest Rate in June Rs.2,972 per gram on 27 June
    Overall Monthly Performance Decline
    Percentage Change -0.66%

    June ‘17- Week 1 (1st to 4th)

    • Demand for gold was boosted by an increase in local demand, as the metal opened the month at Rs.3,012 per gram on 1 June.
    • While the U.S. dollar was relatively stable, international demand was high as markets were volatile across Europe and America.
    • Gold price in Shimla to Rs.3,022 per gram on 3 June as geopolitical tensions in the United States led to the dollar rate falling marginally.
    • The week ended with gold continuing to trade at Rs.3,022 per gram on 4 June.

    June ‘17- Week 2 (5th to 11th)

    • There was an increase in the price of gold in Shimla in the second week as volatile markets and higher demand kept interest in the yellow metal high.
    • Gold traded at Rs.3,037 per gram on 5 June as investor confidence in the markets slipped and safe-haven assets like gold were sought after.
    • Prices rose to Rs.3,057 per gram on 7 June amidst a sharp fall in the dollar rate ahead of the release of jobs data.
    • The markets reacted strongly to better than expected jobs data as unemployment fell across the U.S., prompting a surge in markets and a reduction in demand for bullion.
    • Gold prices dipped to Rs.3,017 per gram on 9 June before falling further to Rs.3,007 per gram on 10 June.

    June ‘17- Week 3 (12th to 18th)

    • Gold price in Shimla was more or less stagnant at the start of the third week as the precious metal fell out of favour due to bullish markets.
    • The yellow metal traded at Rs.3,007 per gram on 12 June, with the price remaining unchanged till 15 June due to poor demand from industrial units.
    • Local demand was also muted due to high prices, as retail demand all but ground to a halt.
    • Gold rate in Shimla fell to Rs.2,992 per gram on 16 June as demand from Asian markets dropped ahead of an announcement of a possible rate hike by the U.S. Federal Reserve.
    • As industrial demand was sluggish, prices dipped to Rs.2,982 per gram as the week ended on 18 June.

    June ‘17- Week 4 (19th to 25th)

    • The week began with gold priced at Rs.2,982 per gram on 19 June as local demand continued to be low.
    • While the U.S. dollar rate was unstable, demand from overseas industrial units as well as retail was still poor.
    • U.S. markets were also beginning to fall as the possibility of a rate hike seemed unfounded, though there was no change in the price of gold.
    • Demand rose marginally as gold traded at Rs.2,987 per gram on 23 June as local demand increased ahead of the launch of the new tax regime.
    • Demand rose towards the end of the week, with gold prices rising to Rs.2,992 per gram on 24 & 25 June.

    June ‘17- Week 5 (26th to 30th)

    • Prices were volatile in the last week of June as conflicting cues led to gold prices fluctuating.
    • Gold traded at Rs.3,002 per gram on 26 June, with the prices rising in the wake of increased demand from both local and overseas markets.
    • The opening of new investigations into possible collusion between the Trump campaign and the Russians destabilised the markets.
    • Demand fell to Rs.2,972 per gram on 27 June but recovered to trade at Rs.2,992 per gram on 28 June.
    • There was no change in the price of gold in Shimla as the month ended, with gold trading at Rs.2,992 per gram on 30 June and losing 0.66% of its value.
    May 1st Rate Rs.3,011 per gram
    May 31st Rate Rs.2,992 per gram
    Highest Rate in May Rs.3,011 per gram on the 1st and 2nd of May
    Lowest Rate in May Rs.2,918 per gram from the 11th to the 15th of May
    Overall Performance Decline
    Percentage Change -0.63%

    May ’17 – Week 1 (1st – 7th)

    • Gold opened at Rs.3,011 per gram on the first day of the month of May in Shimla. Due to sustained demand, this price was noted on the 2nd of May as well. This rate was the highest at which gold was priced at for the month of May in Shimla.
    • However, the rate of gold was near a three-week low following diminishing demand for sale-haven bullion as Asian equities rallied. At the same time, the U.S. dollar gained as compared to the yen resulting in a drop in the price of gold.
    • Gold traded at Rs.2,982 per gram on the 3rd of May before falling to trade at Rs.2,952 per gram from the 4th of May until the end of the first week of May in Shimla.

    May ’17 – Week 2 (8th – 14th)

    • Due to decline in demand, the price of this yellow metal continued to fall as well with gold being priced at Rs.2,942 per gram on the first two days of the second week of May.
    • As the week progressed, the rate of gold continued to fall due to numerous geopolitical factors as well as decline in demand.
    • Gold traded at Rs.2,928 per gram on the 10th of May. The euro strengthened after Emmanuel Macron, a pro-EU candidate won the French presidential election.
    • However, as the demand for this precious metal declined, the price of gold declined as well, with this metal trading at Rs.2,918 per gram from the 11th of May until the end of the week. This was also the lowest at which gold was priced at, for the month of May.

    May ’17- Week 3 (15th – 21st)

    • The rate of gold was Rs.2,918 per gram on the 15th of May, which was a continuation of the price noted during the previous week.
    • There was a marginal recovery noted in the rate of gold as relatively weaker dollar increased the demand for gold.
    • Gold traded at Rs.2,923 per gram on the 16th of May before increasing to Rs.2,939 per gram on the 17th of May.
    • As the demand for this metal increased, the rate of gold increased as well with this metal trading at Rs.2,991 per gram on the 18th of the month in Shimla.
    • However, with a sudden increase in the value of the U.S. dollar, the rate of gold took a hit and reduced marginally.
    • Gold traded at Rs.2,977 per gram from the 19th of May until the end of the third week.

    May ’17 – Week 4 (22nd – 28th)

    • Gold continued to reflect the rate noted during the previous week, which was Rs.2,977 per gram until the 25th of May due to low but sustained demand.
    • As Asian stocks gained, the rate of gold fell marginally. Additionally, the Manchester blast did not have a significant impact on the rate of this metal.
    • The price of this metal increased on the 26th of May to trade at Rs.2,992 per gram.
    • The U.S. Federal Reserve’s meeting did not touch upon the chance of an interest rate hike which resulted in gold trading quite steadily.
    • On the last two days of the week, gold was priced at Rs.2,992 per gram due to sustained demand from both domestic as well as international markets.

    May ’17 – Week 5 (29th – 31st)

    • Due to steady demand for this yellow metal from all quarters, gold continued to trade at the same rate noted during the previous week.
    • Gold was priced at Rs.2,992 per gram from the 29th of May to 31st of May in Shimla, recording a decline of 0.63%.
    April 1st Rate Rs.2,991 per gram
    April 30th Rate Rs.3,011 per gram
    Highest Rate in April Rs.3,068 per gram on 15th and 16th of April
    Lowest Rate in April Rs.2,983 per gram from the 8th to the 10th of April
    Overall Performance Incline
    Percentage Change 0.66%

    April ‘17 - Week 1 (1st to 9th)

    • On the 1st day of April, the rate of gold was Rs.2,991 per gram in Shimla. Thanks to sluggish economic data from the U.S. in addition to the U.S. Federal Reserve’s dovish tone with regards to interest rate, this price of gold was noted on the 2nd and 3rd of April as well.
    • Due to positive market cues along with a slight increase in the demand for gold from domestic markets, the price of gold rose to trade at Rs.3,003 per gram on the 5th of April.
    • Due to steady demand for this yellow metal, the price of gold continued to be Rs.3,003 per gram until the 7th of April.
    • However, a slight fall in the rate of gold resulted in this yellow metal being priced at a lower rate of Rs.2,983 per gram on the 8th of April in Shimla.
    • This rate was noted on the last day of week one of April in Shimla as well.

    April ‘17 - Week 2 (10th to 16th)

    • Due to variations in the demand for this precious metal, there were a lot of fluctuations noted in the rate of gold.
    • This yellow metal continued to be priced at at Rs.2,983 per gram on the first day of the second week of April. This rate was also the lowest at which gold traded for the month of April in Shimla.
    • However, as a result of various geopolitical issues, the safe-haven demand for gold rose resulting in a slight increase in the price of gold.
    • On the 11th of the month of April in Shimla, gold was priced at Rs.2,998 per gram before rising up to trade at Rs.3,036 per gram on the 12th of March. This was due to a rise in the demand for this metal from markets overseas.
    • A marginal decrease was seen in the price of gold on the 13th of April but increased again on the 14th of April to be priced at Rs.3,047 per gram.
    • However, as the demand for this precious metal rose up, the price of gold increased as well. Gold traded at Rs.3,068 per gram on the 15th and 16th of April. This was also the highest rate at which gold traded at, for the month of April.

    April ’17- Week 3 (17th to 23rd)

    • On the 17th of the month in Shimla, gold was priced at Rs.3,057 per gram. This was as a result of a fall in the demand for this yellow metal.
    • Although the demand for this metal fell, it was steady due to stable but low demand, resulting in this precious metal trading at Rs.3,057 per gram continuously until the 21st of April, in Shimla.
    • Due to positive and sustained market cues, the demand for this yellow metal increased marginally thereafter.
    • Gold was priced at Rs.3,062 per gram on the 22nd and 23rd of April in Shimla.
    • Towards the end of the third week of April, an increase was noted in the value of the rupee, resulting in an advantageous situation for all those who wished to purchase this metal.

    April ’17- Weeks 4 (24th to 30th)

    • On the 24th of April, gold traded at Rs.3,041 per gram in Shimla, which was lower than the price of gold noted during the previous week. This rate was seen the next day as well.
    • However, this rate of gold could not be sustained due to low demand. Geopolitical factors contributed to a reduction in the rate of gold as well.
    • Gold was priced at Rs.3,011 per gram from the 26th of April until the 30th of April. An incline of 0.66% was noted in the rate of gold as the month of April came to an end.
    March 1st Rate Rs.3,009 per gram
    March 31st Rate Rs.2,991 per gram
    Highest Rate in March Rs.3,009 per gram on 1st and 2nd March
    Lowest Rate in March Rs.2,950 per gram on 15th of March
    Overall Performance Declin
    Percentage Change -0.59%

    March 2017 - Week 1 (1st - 5th):

    • When March began in Shimla, gold was priced at Rs.3,009 per gram, which didn’t change the next day on the 2nd.
    • The rates, as seen on 1st and 2nd, also happened to be the highest gold rates for the month - meaning gold rates went down over the next few weeks.
    • On 3rd, prices went down by Rs.19 to hit Rs.2,990 per gram.
    • Over the next two days gold rates remained at Rs.2,990 per gram as there was no uptick in demand.

    March 2017 - Week 2 (6th - 12th):

    • Gold was still priced at Rs.2,990 per gram, when week 2 began on 6th.
    • However, gold rates saw one of its sharpest decline for the month as global demand took a tumble, bringing prices down to Rs.2,970 per gram on 7th.
    • The decline, though, was short lived as rates bounced back to increase by Rs.23 to close at Rs.2,993 per gram on 8th.
    • This week witnessed considerable fluctuations which was evident from another slump in gold prices on 9th.
    • Rates went from Rs.2,993 per gram to Rs.2,977 per gram - a decrease of Rs.16 - as market volatility was at its best.
    • Unlike the previous instance, there was no bouncing back this time as a lack of demand brought bullion prices further down to Rs.2,965 per gram.
    • The last two days of March week 2, however, showed some respite as rates picked up slightly to end the week at Rs.2,971 per gram.

    March 2017 - Week 3 (13th - 19th):

    • The third week of March was a rather topsy-turvy period for gold rates.
    • On 13th, gold was selling at Rs.2,971 per gram but dropped down by Rs.2,951 per gram on the 14th.
    • When trading began on 15th, prices went down marginally to Rs.2,950 per gram but went back up, thanks to a rise in demand to Rs.2,960 per gram on 16th.
    • Rates again went up on the 17th to hit Rs.2,970 per gram as prices seemed to go back to where they started.
    • Over the last two days of March week 3, gold was trading at Rs.2,971 per gram - marking a change of 0% for the week.

    March 2017 - Week 4 (20th - 26th):

    • The last two weeks of March 2017 were again a bit of a tumultuous period for gold rates.
    • This was the period when several altercations in Syria brought about strong responses from the US, which helped the markets go up.
    • On 20th, gold was priced at Rs.2,976 per gram, which continued on the 21st as well.
    • The 22nd saw gold prices gain the highest - an increase of Rs.27 - to end the day at Rs.3,003 per gram.
    • Although, gold prices remained unchanged on 23rd, they went down to Rs.2,993 per gram on the 24th and didn’t change till the 26th.

    March 2017 - Week 5 (27th - 31st):

    • On 27th, rates again went back to Rs.3,003 per gram - only to continue at the same rate till the penultimate day of the month.
    • The last day of March 2017 saw gold prices fall by Rs.12 to end the month at Rs.2,991 per gram.
    • In Shimla, gold prices declined slightly by just 0.59% for the month of March.
    February 1st Rate Rs.2,978 per gram
    February 28th Rate Rs.3,020 per gram
    Highest Rate in February Rs.3,031 per gram from 25th to 27th February
    Lowest Rate in February Rs.2,957 per gram on 4th to 7th February
    Overall Performance Incline
    Percentage Change 1.41%

    February 2017 - Week 1 (1st - 4th):

    • Like its neighbouring city Dehradun, gold rates in Shimla remained more or less identical.
    • When trading started on 1st, gold was priced at Rs.2,978 per gram.
    • Rates didn’t change much over the first three days of week 1, owing to a lack of demand but went down considerably on the last day of the week.
    • Gold was trading at Rs.2,978 per gram on 3rd but decreased massively by Rs.21 to go down to Rs.2,957 per gram.

    February 2017 - Week 2 (5th-11th):

    • On 2nd, when the second week of February began, the yellow metal was still trading at Rs.2,957 per gram - the same price as the previous week - and remained the same on 6th.
    • Rates of gold in Shimla from 4th to 7th - i.e, Rs.2,957 per gram, was the lowest price of gold for the month.
    • As industrial demand increased, while dollar value went down, gold prices went up by Rs.42 per gram to reach Rs.2,999 per gram on 7th.
    • The rise in demand saw no end as it once again spurred an increase on 8th - this time to reach Rs.3,009 per gram.
    • After the sudden rallying of prices, the 9th and 10th saw gold rates holding out at Rs.3,009 per gram.
    • With the US dollar strengthening over the last couple days of Week 2, gold prices in Shimla fell to Rs.2,983 per gram - a decrease of Rs.26.

    February 2017 - Week 3 (12th-18th):

    • Gold in Shimla was priced at Rs.2,983 per gram, when week 3 began, but dropped down to Rs.2,973 per gram on 14th.
    • Rates remained the same on 15th but went up by Rs.16 to reach Rs.2,989 per gram on the 16th.
    • Gold prices, likewise, increased on the 17th - this time by Rs.10 as bullion trading rallied against the dollar.
    • When week 3 ended, gold was seen trading at Rs.2,999 per gram.

    February 2017 - Week 4 & 5 (19th-28th):

    • The last two weeks of February didn’t see too much of a change in gold prices, barring a single occasion towards the end of the month.
    • On 19th, gold was trading at Rs.2,999 per gram and continued at the same rate till the 24th - as US dollar was weakening owing to some questionable policy decisions taken by Donald Trump.
    • Due to an increase in demand in the industrial niches in Shimla, gold prices went up to Rs.3,031 per gram on 25th - a huge increase of Rs.32.
    • Overall, gold price trends went up by 1.41% in Shimla for the month of February.
    January 1st Rate Rs.2,844 per gram
    January 31st Rate Rs.2,958 per gram
    Highest Rate in January Rs.2,979 per gram on 23rd & 24th January
    Lowest Rate in January Rs.2,844 per gram from 1st-3rd January
    Overall Performance Incline
    Percentage Change +4.00%

    January ‘17 - Week 1 (1st to 7th)

    • The price of gold in Shimla for the month of January increased due to steady demand from the industrial sector as well as favourable market conditions.
    • Gold was priced at Rs.2,844 per gram on 1st January, with the price staying constant till 3rd January.
    • Prices rose on increased demand from the industrial sector and a spike in local demand also boosted prices.
    • Gold traded at Rs.2,866 per gram on 6th January as stock markets fell slightly, which led to an increase in demand for gold.
    • Gold ended the week trading at Rs.2,866 per gram, recording an increase of Rs.22 per gram over the week.

    January ‘17 - Week 2 (8th to 14th)

    • The second week of January saw gold prices continue to rise due to favourable market conditions, trading at Rs.2,866 per gram on 8th January.
    • Prices rose to Rs.2,888 per gram on 10th January as industrial orders rose from Asia, as the U.S. Dollar was unstable and fell on poor trading.
    • Gold futures also rose as gold prices kept increasing, reaching Rs.2,925 per gram on 12th January on consistent demand both domestically as well as internationally.
    • Gold traded at Rs.2,941 per gram on 14th January, an increase of Rs.75 per gram over the week.

    January 2017- Week 3 (15th to 21st)

    • The price of gold continued to rise during the week, but at a more conservative rate compares to the previous two weeks.
    • Gold was priced at Rs.2,941 per gram on 15th January and rose to Rs.2,973 per gram on 18th January on strong demand from Asia ahead of the Lunar New Year.
    • Prices dipped due to a decline in demand, trading at Rs.2,952 per gram on 20th January as domestic demand suffered a setback.
    • Prices recovered as the week ended, with gold trading at Rs.2,963 per gram on 21st January, recording a weekly increase of Rs.22 per gram.

    January 2017- Weeks 4 & 5 (22nd to 31st)

    • Prices in the last two weeks saw fluctuations due to a fluctuating U.S. Dollar, which impacted gold prices severely.
    • Gold was priced at Rs.2,963 per gram on 22nd January, with prices rising to Rs.2,979 per gram on 233rd January as markets dipped following the transfer of leadership in the United States.
    • Gold prices were stable for a few days in spite of lowered demand from Asia, but prices dipped on 27th January, trading at Rs,2947 per gram.
    • Prices were low for a few days but soon recovered to trade at Rs.2,967 per gram on 30th January as markets continued to be unstable due to uncertainty over the recently implemented travel ban.
    • Gold prices dipped marginally as the month ended, trading at Rs.2,958 per gram on 31st January, recording a weekly loss in price of Rs.5 per gram.

    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.

    Also Check Gold Price in NearBy Cities of Shimla

    Gold Rate in Delhi Gold Rate in Lucknow Gold Rate in Chandigarh
    Gold Rate in Srinagar Gold Rate in Ludhiana Gold Rate in Dehradun

    Read more on Gold

    News About Gold Rate In Shimla

    • Gold Board of India on the cards for a complete gold policy

      The Centre might set up the Gold Board of India to come up with a comprehensive gold policy and increase the exports of jewellery and gems. A Niti Ayog or the Planning commission that was set up to suggest ways to change India's gold market had advised far-reaching changes to the finance ministry in the ways India deals with the yellow metal. The panel that was headed by principal adviser to the Planning Commission, Ratan P Watal submitted the report of the committee on 'Transforming India's Gold Market,' to the union finance minister recently. One of the suggestions made state that the import duty should be reduced which is not at 10% since 2013 and inspite that the smuggling in gold hasn't decreased.   

      The jewellery and gem industry is expected to take over 15% hit after the closure of Nirav Modi and Mehul Choksi group of companies post the Punjab National Bank loan scam. This was quoted in a report by Care ratings. In this year's Union Budget, Finance Minister Arun Jaitely declared that the government would come up with a complete gold policy to develop it as an asset class. He had advised that the Gold Monetisation Scheme would also be revised to make it more user friendly.

      6 March 2018

    • Gold Prices Hold 2 Week High

      The anticipation that the US Federal Reserve may announce the interest rate hikes a little early has been helping gold hold its prices. It reached its highest in the last 2 weeks with spot gold reaching a price of $ 1,248.40 per ounce. Even though the cost of labour surged in the US, the price of US Gold came down only be 0.1% to $ 1,246.40 per ounce. In the wake of all these things, the world bank reduced its estimate of global growth by 0.5% and brought it down to 2.4%. However, the high prices have still held consumers at bay with China’s Chow Tai Fook Jewellery Group Ltd reporting that they were looking at a 46% drop in profits over the year.

      9 June 2016

    • Gold Makes a Resurgence as Dollar Drops, All Eyes on Rate Hike

      The Dollar weakened slightly and gold rose by a small margin today (2nd June, 2016), with analysts and investors gauging if recent data would result in an interest rate hike this month.

      Figures released indicated U.S. manufacturing data was improving, which pushed the Dollar up, resulting in a fall in gold prices on Wednesday (1st June, 2016).

      The Dollar index fell by 0.1% against the 6 other currencies on Thursday (2nd June, 2016), which accounted for the increase in the gold price as a weaker Dollar makes gold more affordable for buyers from non-Dollar countries.

      Spot gold fell by 0.2% on Wednesday to $1, 212.40 per ounce while U.S. gold rose by 0.2% to close at $ 1, 217.

      Gold has been plummeting on speculation that a Fed rate hike was imminent, which was bolstered as Fed officials dropped hints about a hike as early as June.

      While gold has already dropped to $ 1, 200 an ounce, there are estimates that gold will drop to $ 1,130 an ounce over the next month.

      3 June 2016

    • Gold Dips As Dollar Strengthens

      The precious metal fell by over 1% on the back of the Dollar strengthening to a 3 week high as the US Federal Reserve’s minutes were announced that indicated interest rates would be raised.

      The rate increase is expected to be in June if the second quarter shows stronger growth and employment prospects.

      Fed officials have predicted at least 2 to 3 rate increases in the year, with one official stating a push would be made for an increase in June or early July.

      With gold being influenced by changes in interest rates, this news led to a fall in the rates as the cost associated with holding it becomes higher.

      Spot gold dropped to $ 1, 262.45 per ounce and U.S gold futures dipped to $ 1, 274.4, a decrease of 0.2%.

      With the housing and industrial outlook looking up, there is more incentive to increase interest rates, as consumer prices had the largest increase in over 3 years.

      Bullion has seen an increase as concerns that the Fed will be slowing down its proposed cycle of rate increases due to sluggish economic growth has had investors flock to the yellow metal.

      19 May 2016

    • Gold finally steadies at $1,280 an ounce

      Gold price held steady at almost $1,280 an ounce on Thursday after rising to the highest since last April, the session before. The price is supported by a weaker dollar and soft equities. Spot gold however remained unchanged at $1,277. 36 an ounce after recovering from a two week low overnight. U.S gold delivery for June rose by about 0.3% to $1,279.20 an ounce. Gold has managed to rise by 20% this year.

      12 May 2016

    • Gold Prices Dip Further, Now at Less than Rs.30, 000

      The price of gold has dipped for the second straight day, taking the price below Rs. 30, 000 for 10 grams. Weak demand from overseas and lowered demand from jewellers pushed the yellow metal’s price to Rs. 29, 850 for 10 grams on Tuesday.

      Silver also fell, with the metal retailing at Rs. 40, 600 for a kilo on the back of poor demand by industry.

      Monday saw poor sales for gold due to its high price, in spite of it being Akshaya Tritiya, considered an auspicious day to buy it. Industry insiders said sales were 20-30% lower as compared to the previous year.

      On the global bullion markets too, gold took a dip, trading at $1,263.40 per ounce in New York. Sovereign gold retained its price of Rs. 23, 300 for an 8 gram piece, but 99.9 purity gold fell by Rs. 250 to Rs. 29, 850, while the 99.5 purity variety was retailing at Rs. 29, 700 for 10 grams.

      With Indians being the largest consumers of bullion in the world, the recent Akshaya Tritiya was expected to be a windfall for jewellers. However, demand was slow, with some blaming it on ongoing elections in gold-buying strongholds like Tamil Nadu

      11 May 2016

    • Gold Prices Up in Asia

      The price of gold increased earlier this week following the failure of oil producers to reach an agreement on an output freeze, thereby contributing towards the reduction in equities and crude prices. As a result investors are seeking safe-haven investment instruments owing to which the demand as well as price of bullion has increased.

      Crude futures in the United States declined by 6.8% to $37.61 per barrel. Brent futures, on the other hand, fell by 7% to $40.10 per barrel. Also on the decline were Asian shares, pulled down by the decline in crude oil futures. The value of spot gold hit a session high to close at $1,239.30 per ounce prior to falling by a mere 0.2% to $1,236.20.

      Market experts and chief dealers are of the opinion that there are investors out there who are looking to maximise safe haven purchasing. However, concerns regarding the interest rate hikes in the United States are on the rise, making it a sort of tug of war to ensure that prices are in range.

      19 April 2016

    • Gold Dips ever so slightly

      Gold experienced a dip in its rates on Tuesday but managed to stay above the month-low on account of a lesser aggressive dollar, unconfirmed economic data from the United States and weak speculations of a double hike in the tax rates of gold in the US Federal Reserve.

      Spot gold had a slip in its rates by around 0.2 percent and came to rest at 1218.10 dollars an ounce during 0300 hours GMT in the States. The month low of the metal had been 1208.15 dollars an ounce on Monday and it had increased by 0.4 percent by the end of the day.

      29 March 2016

    • Jewelers’ strike prompts government to set up a panel

      After the recent strike against excise duty by the gold jewelers’ association, the government has decided to set up a panel that will look exclusively into the demand of gold traders and jewelers are work towards solving their issues. The panel will look into the current state of things and then furnish its report in 60 days. The panel will check the compliance procedure, records maintained, operating procedures etc. with respect to the excise department.

      All such gold jeweler associations will get to present their case in written and the all India level committee will get to present its case in person to this panel.

      22 March 2016

    • Gold equity rises close to a 13 month high

      As the European shares dipped, the gold rose hovering below a 13 month high. Fall in the average earnings mean that the Fed is not in any hurry to raise the rates. Low interest rate encourages investors to invest in non-interest bearing assets such as gold. Spot gold rose by 0.8% at $1,269.03 an ounce. Bullish bets in COMEX gold were reduced by hedge funds and money managers.

      8 March 2016

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