Gold Rate In Shimla Last Updated : 27 Jan 2023

  • Today's Gold Rate in Shimla (27 Jan 2023)

    ₹ 5,360
    Today's Gold Rate (22K) per gram

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

    Rate Change
    Standard Gold (22 K) (1 gram) ₹ 5,360 ₹ 5,420 ₹ -60 ↓
    Standard Gold (22 K) (8 grams) ₹ 42,880 ₹ 43,360 ₹ -480 ↓
    Pure Gold (24 K) (1 gram) ₹ 5,628 ₹ 5,691 ₹ -63 ↓
    Pure Gold (24 K) (8 grams) ₹ 45,024 ₹ 45,528 ₹ -504 ↓

    Daily Gold Rates

    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    27 Jan 2023 ₹ 5,360 ₹ 42,880 ₹ 5,628 ₹ 45,024
    26 Jan 2023 ₹ 5,420 ₹ 43,360 ₹ 5,691 ₹ 45,528
    25 Jan 2023 ₹ 5,380 ₹ 43,040 ₹ 5,649 ₹ 45,192
    24 Jan 2023 ₹ 5,380 ₹ 43,040 ₹ 5,649 ₹ 45,192
    23 Jan 2023 ₹ 5,345 ₹ 42,760 ₹ 5,612 ₹ 44,896
    22 Jan 2023 ₹ 5,335 ₹ 42,680 ₹ 5,602 ₹ 44,816
    21 Jan 2023 ₹ 5,335 ₹ 42,680 ₹ 5,602 ₹ 44,816
    20 Jan 2023 ₹ 5,345 ₹ 42,760 ₹ 5,612 ₹ 44,896
    19 Jan 2023 ₹ 5,310 ₹ 42,480 ₹ 5,576 ₹ 44,608
    18 Jan 2023 ₹ 5,310 ₹ 42,480 ₹ 5,576 ₹ 44,608

    Weekly & Monthly Graph of Gold Rate in Shimla (1 gram)

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    *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.

    Today's Gold Rate 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.

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    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.

    Check Gold Price in NearBy Cities of Shimla

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    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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