Gold Rate In Shimla

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 ‘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.

December '16 - Week 1 (1st to 4th)

• Gold began the month trading at Rs.2,893 per gram on 1st December, as demand from retail and industrial sectors was high.
• Prices dipped marginally due to fluctuations in the market, but stayed stable for most of the week.
• The shortage of currency notes led to lower than expected demand from investors.
• Gold traded at Rs.2,887 per gram on 4th December, recording a marginal decrease in price.

December '16 - Week 2 (5th to 11th)

• The second week saw gold prices stay constant before increasing slightly due to a rise in demand.
• Gold traded at Rs.2,887 per gram on 5th December, with prices rising to Rs.2,892 per gram on 8th December on slight market uncertainty.
• Retail demand dipped as the week progressed due to greater scrutiny of bullion purchases, which led to gold trading low.
• The week ended with gold priced at Rs.2,864 per gram on 11th December.

December '16 - Week 3 (12th to 18th)

• Gold prices fell during the week due to weak demand as markets performed well.
• Gold was priced at Rs.2,864 per gram on 12th December, with prices remaining constant till 14th December on stable demand.
• Prices dipped to Rs.2,822 per gram on 15th December as the U.S. Dollar gained in value, which lowered demand for bullion.
• Prices remained unchanged for the rest of the week, with gold trading at the same rate due to stagnant demand.

December '16 – Week 4 (19th to 25th)

• Prices remained unchanged at Rs.2,822 per gram on 19th December as demand was domestic demand was muted, though international demand increased slightly.
• Gold prices fell to their lowest monthly rates, trading at Rs.2,800 per gram on 23rd December as retail demand slumped.
• A recovering market also contributed to lower demand for gold from the industrial sector.
• Gold traded at Rs.2,800 per gram as the week ended on 25th December, registering a marginal loss due to market forces.

December '16 – Week 5 (26th to 31st)

• The last week of December saw gold prices make a slight recovery due to higher international demand.
• Gold was priced at Rs.2,800 per gram on 26th December as domestic demand continued to be poor.
• Prices rose marginally to Rs.2,833 per gram on 29th December with anticipated announcement on the demonetisation policy leading to markets falling.
• Gold prices rose as the year ended to Rs.2,844 per gram on 31st December, though gold prices recorded a monthly loss of over 1%.

November '16 - Week 1 (1st to 6th)

• The price of gold was relatively stable as the month began, as high demand from the industrial sector coupled with strong domestic demand kept prices high.
• Gold traded at Rs.3,099 per gram on 1st November and rose as the week progressed.
• Market fluctuations due to the impending U.S. elections led to heavier investment in gold.
• Gold reached its monthly high of Rs.3,213 per gram on 5th and 6th November.

November '16 - Week 2 (7th to 13th)

• The price of gold was stable as the week began but dropped due to the government’s demonetisation policy.
• Gold traded at Rs.3,211 per gram on 7th November as markets fell following the election of Donald Trump as U.S. President.
• The surprise move to demonetise Rs.1,000 and Rs.500 notes led to markets falling and a renewed interest in gold.
• Prices stayed high initially but dipped as legal tender became difficult to come by, thereby reducing demand.
• Gold traded at Rs.3,071 per gram on 13th November, with the price falling due to decreasing demand from the retail sector.

November '16 - Week 3 (14th to 20th)

• Demonetisation and the currency shortage resulted in demand for gold dwindling, as retail demand all but ground to a halt.
• Gold was priced at Rs.3,071 per gram in 14th November, with the price dipping as the week progressed.
• International demand for gold was consistent, though demand fell marginally.
• Gold fell below Rs.3,000 for the first time in the month, trading at Rs.2,994 per gram on 20th November.

November '16 - Weeks 4 and 5 (21st to 30th)

• The possibility of a U.S. Fed rate hike led to the markets rallying, which pushed up the Dollar and resulted in demand for gold falling.
• Gold was priced at Rs.2,994 per gram on 21st November as domestic markets continued to reel from the effects of demonetisation.
• The enactment of stringent measures preventing large purchases of gold led to a further lowering of demand for gold.
• The price fell to Rs.2,929 per gram on 25th November, the lowest price for the month as domestic markets recovered and industrial demand was low.
• Gold made a slight recovery, trading at Rs.2,941 per gram on 30th November.

October 2016 – Weeks 1 and 2 (1st to 9th)

• Though the interest rate hike by the U.S. Federal Reserve has been put on hold till December, expectations have sprouted again as a further delay in the hike could lead to other problems for the economy.
• Gold prices stood at Rs.3,205 on the 1st of October and the remained unchanged until the 4th of the month.
• A decline on the 5th of October saw prices drop to Rs.3,119 per gram, after which another decline saw prices plunge further down to Rs.3,088 on the 6th.
• Prices remained stable till the end of the week as there were no fluctuations.

October 2016 – Week 3 (10th to 16th)

• The price of gold per gram did not change from the closing levels of the previous week and prices remained stable at Rs.3,088 until the end of the week.

October 2016 – Week 4 (17th to 23rd)

• There was little talk of the interest rate hike by the U.S. Federal Reserve this week, and rates remained unchanged at Rs.3,088 until the week ended.

October 2016 – Week 5 (24th to 31st)

• Although there was no change in rates on the first day of the week, prices increased to Rs.3,099 on the 26th of October and remained stable until the end of the month.
• The overall decline in prices between the start and end of October was 3.31%.

September '16 - Week 1 (1st to 4th)

• Demand for gold was high this week leading to a rise in gold prices.
• Gold traded at Rs.3,184 per gram at the start of the week. This was the lowest price for the month.
• With the release of weak U.S. economic data, expectations of a Fed rate hike this month died down.
• Gold prices rose significantly this week as demand was high.
• By the end of the week, gold traded at Rs.3,195 per gram.

September '16 - Week 2 (5th to 11th)

• Gold traded at Rs.3,195 per gram on 5th September.
• Positive trends loomed over the global market triggering a rise in demand for gold.
• Gold prices reached their highest on 7th September trading at Rs.3,228 per gram.
• For the rest of the week, stable demand kept prices constant.

September '16 - Week 3 (12th to 18th)

• Demand for gold took a hit this week as the U.S. Federal Reserve intended on rolling out an interest rate hike soon despite weak economic data.
• Gold traded at Rs.3,228 per gram on 12th September.
• Gold prices started falling as investors laid back from the yellow metal.
• Gold traded at Rs.3,195 per gram on 18th September.

September '16 - Week 4 (19th to 25th)

• Gold traded at Rs.3,195 per gram on 19th September.
• Gold gained this week on the back of the U.S. Federal Reserve’s decision to put the interest rate hike on hold till December.
• The decision was taken in light of the the upcoming U.S. presidential elections.
• Gold prices climbed as demand was heavy.
• On 22nd September, gold rates climbed to Rs.3,227 per gram and stayed constant for the rest of the week.

September '16 - Week 5 (26th to 30th)

• Gold traded at Rs.3,227 per gram from 26th to 28th September.
• Steady demand gave gold rates support to stay constant.
• Prices of gold soon started to fall as the dollar grew stronger.
• Gold was seen trading at Rs.3,217 per gram on 30th September.
• Overall, the trend for this month indicated an increase of 1.04%.

August '16 - Weeks 1 (1st to 7th)

• Demand for gold was high in the first week of August.
• The dollar was weak on account of dampened economic data from the U.S.
• The global and domestic market was upbeat as the expectations of a U.S. Federal Reserve interest rate hike were low.
• Gold traded at Rs.3,219 per gram on 1st August and remained constant till 3rd.
• Though rates initially increased, the week ended with gold trading at Rs.3,206, a marginal decline in prices.

August '16 - Week 2 (8th to 14th)

• Gold traded at a steady pace in the second week of August.
• Demand was stable in light of the upcoming festivals. Jewellers and retailers increased their intake to prepare for the high-demand season.
• Gold traded at Rs.3,206 per gram on 8th and 9th August.
• Prices climbed to Rs.3,248 per gram on 10th August put was quick to start falling again.
• The volatility in prices could be attributed to the expectations of a Fed rate hike amid a weak U.S. economy.
• Gold prices settled at Rs.3,226 per gram at the end of the week.

August '16 - Week 3 (15th to 21st)

• The pre-festive season demand kept gold prices stable this week..
• Gold traded at Rs.3,226 per gram on 15th August.
• On 18th August, gold rates climbed to Rs.3,238 per gram and remained constant for the rest of the week.
• On the global front, the markets were dampened by increased prospects of a Fed rate hike in the month of September.

August '16 - Week 4 (22nd to 28th)

• The impact of global trends affected the domestic markets in the fourth week of September.
• Demand for the precious metal was sluggish and gold rates started to decline.
• Gold traded at Rs.3,238 at the start of the week.
• Prices gradually dropped to Rs.3,205 per gram on 26th August. This was the lowest price recorded for the month.
• The week ended with a constant trend as sustained demand helped keep gold rates stable.

August '16 - Week 5 (29th to 31st)

• The constant trend of week 4 continued into the final week of August.
• Gold traded at Rs.3,205 per gram, which was the lowest rate recorded for the month.
• Investors in the global market lost their interest in gold due to the anticipated Fed rate hike.
• Gold rates are expected to pick up in the domestic market as the festival season approaches.
• However, trends in the global market indicate that prices will be volatile for longer.