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Siliguri is a fast growing town in the state of West Bengal, with a population of close to 7.5 lakh people. Often referred as the gateway to Northeast India, it forms a key link in the North eastern territory. The residents of this beautiful town are known for their penchant for gold, with gold being a popular investment cum family heirloom here. Gold prices in Siliguri are primarily determined after taking international gold rates into consideration, with rates changing on a regular basis. Gold sales in this hill town pick up during the festival season, with Diwali and Durga Puja being popular times for people to buy gold.
Gold price in Siliguri
The price an individual pays for gold in Siliguri depends largely on international trends, with global markets and the performance of the dollar playing a key role in calculating the final rate. Local demand and supply and taxes also impact the rates, with different gold products available for multiple budgetary needs, thanks to varying purity levels. Addition of impurities makes gold cheaper, with 14 or 18 karat gold costing lower than 22 or 24 karat gold.
Gold Rate Trend in Siliguri for October 2019 to December 2019 (per gram of 24 karat gold)
|1st Day||Rs.3,889 per gram||Rs.3,974 per gram||Rs.3,948 per gram|
|Last Day||Rs.3,956 per gram||Rs.3,910 per gram||Rs.4,027 per gram|
|Highest Price||Rs.3,989 per gram from 26 to 29 October||Rs.4,006 per gram on 3 and 4 November||Rs.4,031 per gram on 29 and 30 December|
|Lowest Price||Rs.3,833 per gram on 2 October||Rs.3,908 per gram from 28 November||Rs.3,884 per gram on 14 December|
Quarterly Gold Rate in Siliguri from October 2019 to December 2019:
- The price of gold saw an overall incline of 1.72% in Siliguri for the month of October 2019. The main reason for the increase in prices was the uncertainty in the trade talks between the US and China. The lowest and highest prices of gold in Siliguri for the month of October were at Rs.3,883 per gram and Rs.3,989 per gram, respectively.
- In November, gold prices fell in Siliguri as investors moved towards the stock market after no rate cuts were made by the US Federal Reserve. Siliguri saw an overall decline of 1.61% over the course of the month. The prices of gold opened at Rs.3,974 per gram on 1 November 2019 and closed at Rs.3,910 per gram on 30 November 2019. Gold prices hit its highest rate of Rs.4,006 per gram on 3 November and 4 November.
- In December, the prices of gold increased in Siliguri because of the impeachment of the US President and the uncertainty in the trade talks between China and the US. Various other political factors also affected the prices of gold. The lowest and highest gold rates in Siliguri for the month of December 2019 were at Rs.3,884 per gram and Rs.4,031 per gram.
Gold Rate Trend in Siliguri for July 2019 to September 2019 (per gram of 24 karat gold)
|1st Day||Rs.3,512 per gram||Rs.3,614 per gram||Rs.3,986 per gram|
|Last Day||Rs.3,608 per gram||Rs.4,001 per gram||Rs.3,911 per gram|
|Highest Price||Rs.3,644 per gram on 20 July||Rs.4,030 per gram on 27 August||Rs.4,064 per gram on 5 September|
|Lowest Price||Rs.3,467 per gram on 2 July||Rs.3,572 per gram on 2 August||Rs.3,864 per gram on 21 September|
Gold Rate Trend in Siliguri for April 2019 to June 2019 (per gram of 24 karat gold)
|1st day||Rs.3,294 per gram||Rs.3,293 per gram||Rs.3,314 per gram|
|Last day||Rs.3,301 per gram||Rs.3,314 per gram||Rs.3,512 per gram|
|Highest price||Rs.3,306 per gram from 10-12 April||Rs.3,337 per gram on 17 May||Rs.3,529 per gram from 25-27 June|
|Lowest price||Rs.3,246 per gram on 19 April||Rs.3,258 per gram on 24 May||Rs.3,314 per gram on 1 June|
Quarterly gold rate trend in Siliguri for April 2019 to June 2019:
- The start of the quarter saw gold in Siliguri trading at Rs.3,294 per gram. A declining local and industrial demand for the metal clubbed with positive overseas trends was recorded during this time.
- Gold rate in Siliguri dropped to its lowest point for the quarter 24th May when it traded at Rs.3,258 per gram. Demand for the yellow metal remained stagnant during this time while the dollar rose in value over competing currencies.
- The value of gold in Siliguri rose substantially in the month of June. Gold rate in Siliguri stood at its highest for three months on from 26 - 27 June. It was recorded at Rs.3,529 per gram. This may have been the effect of favorable global overseas trends clubbed with the surged local and industrial demand for gold.
- The last week of the quarter saw a marginal decline in the gold price in Siliguri as the US and China decided to reignite trade talks. As on 30th June, the price of gold was recorded Rs.3,512 per gram.
Gold Rate Trend in Siliguri for January 2019 to March 2019 (per gram of 24 karat gold)
|1st day||Rs.3,282 per gram||Rs.3,431 per gram||Rs.3,435 per gram|
|Last day||Rs.3,428 per gram||Rs.3,460 per gram||Rs.3,294 per gram|
|Highest price||Rs.3,428 per gram on 31 January||Rs.3,497 per gram on 21 February||Rs.3,435 per gram on 1 March|
|Lowest price||Rs.3,282 per gram on 1 and 2 January||Rs.3,399 per gram on 15 February||Rs.3,313 per gram on 29 March|
Gold Rate Trend in Siliguri for January 2019:
- With the value of the dollar constantly fluctuating, the gold rate in Siliguri increased steadily throughout the month after opening at Rs.3,282 per gram on 1 January. This was also the lowest price point of the metal for the month.
- The ongoing trade tensions between the China and U.S. reduced industrial imports of gold from Asia. However, strong local demand kept the value from declining.
- The dollar weakened while the equity market rose in value. As on 18 January, the price of gold stood at Rs.3,338 per gram. During this time, local and industrial demand for the metal too rose.
- The price of gold stood still for a few days while the dollar recovered in value after the government shutdown ended. However, at the end of the month on 31st January, the yellow metal stood at its highest point as it was trading at Rs.3,428 per gram. The overall percentage increment for the month was recorded at 4.44%.
Gold Rate Trend in Siliguri for February 2019:
- Demand for the yellow metal rose spontaneously as conflicting overseas cues and a volatile U.S. dollar rate impacted local and industrial demand. The gold rate in Siliguri on 1 February was Rs.3,431 per gram.
- Gold prices in Siliguri rose briefly to Rs.3,455 per gram on 6 February as the dollar dropped on global economic slowdown fears but it bounced back as the yellow metal’s value fell to Rs.3,404 per gram on 14 February.
- Sluggish demand from Asia and rising insecurity over Brexit increased gold’s safe-haven appeal among investors as the metal rose to Rs.3,462 per gram on 19 February, as local demand remained static.
- Prices surged to Rs.3,497 per gram on 21 February on news of a resolution to the Sino-U.S. trade dispute but a more aggressive tone by the Federal Reserve boosted the dollar as gold fell to Rs.3,460 per gram on 28 February.
Gold rate trend in Siliguri for March 2019:
- Gold rate in Siliguri dipped in value at the beginning of the month as the value of the US dollar rose substantially. Uncharacteristically, stocks and equities too dipped in value at the same time. The price of gold on 1 March stood at Rs.3,435 per gram. This was also the highest value of the yellow metal for the month.
- The dollar then declined in value on the 7th in comparison to the Euro as the ECB pushed its decision to hike interest rates. This stunted the growth of the metal due to weak economic conditions.
- On 29 March, gold stood at one of its lowest points of the month when it was trading at Rs.3,313 per gram. This was influenced with the dollar increasing in value and weak economic conditions prevailed.
- A percentage decline of 4.10 was recorded for the month of March while it was trading at Rs.3,294 per gram. This was also the lowest price the metal stood at for the month.
Gold Rate Trend in Siliguri for October 2018 to December 2018 (per gram of 24 karat gold)
|1st day||Rs.3,167 per gram||Rs.3,292 per gram||Rs.3,166 per gram|
|Last day||Rs.3,292 per gram||Rs.3,166 per gram||Rs.3,284 per gram|
|Highest price||Rs.3,303 per gram on 25 October||Rs.3,292 per gram on 1 November||Rs.3,284 per gram on 30 and 31 December|
|Lowest price||Rs.3,167 per gram on 1 October||Rs.3,166 per gram on 30 November||Rs.3,166 per gram on 1 December|
Gold Rate Trend in Siliguri for October 2018:
- A rise in local retail demand offset a falling rupee as gold rates in Siliguri traded strongly after opening at Rs.3,167 per gram on 1 October.
- Weak demand from China due to the fallout of the Sino-U.S. trade tariff dispute capped gains but rising interest from local jewellers due to the upcoming festive season boosted prices to Rs.3,276 per gram on 13 October.
- In spite of a weak rupee, industrial demand was stable and helped steady gold rates as equity markets remained volatile.
- Renewed uncertainty over Brexit’s impact on the economy rattled markets and helped push gold prices to Rs.3,292 per gram on 31 October to record a 3.94% rise in value.
Gold Rate Trend in Siliguri for November 2018:
- In spite of the festive season, local demand for gold declined as a high dollar rate and conflicting overseas cues impacted sales.
- The precious metal traded at a stable Rs.3,292 per gram on 1 November but prices quickly fell as jewellers reduced orders and industrial demand was also on the decline.
- Fears of an economic slowdown in China reduced overall demand for the metal, with investors also keeping away from heavy involvement in bullion.
- Gold prices in Siliguri dropped to a monthly low of Rs.3,166 per gram when the month ended on 30 November, recording a drop in value of 3.82% due to uniformly poor offtake.
Gold Rate Trend in Siliguri for December 2018:
- Gold's fortunes revived amidst renewed interest in the metal among retail buyers and investors, with the metal trading at Rs.3,166 per gram on 1 December.
- The upcoming festive season and a slight improvement in the rupee bolstered demand from jewellers and the retail sector as gold rates in Siliguri steadily rose.
- Markets plummeted on Brexit turmoil and the partial U.S. government shutdown as investor interest in bullion rose sharply, resulting in the metal ending the month at Rs.3,284 per gram on 31 December.
Gold Rate Trend in Siliguri for July 2018 to September 2018 (per gram of 24 karat gold)
|1st day||Rs.3,146 per gram||Rs.3,079 per gram||Rs.3,129 per gram|
|Last day||Rs.3,082 per gram||Rs.3,116 per gram||Rs.3,167 per gram|
|Highest price||Rs.3,165 per gram on 6 and 7 July||Rs.3,116 per gram from 31 August||Rs.3,186 per gram on 26 September|
|Lowest price||Rs.3,082 per gram on 31 July||Rs.3,032 per gram on 17 August||Rs.3,114 per gram on 4 September|
Gold Rate Trend in Siliguri for July 2018
- The price of gold in Siliguri rose steadily at the start of the month but a declining rupee and bullish stock markets resulted in prices falling by the middle of the month.
- Gold traded at Rs.3,146 per gram on 1 July as local demand was steady in spite of the falling rupee.
- Industrial demand was static, in line with overseas trends as the metal rose to Rs.3,165 per gram on 6 July.
- Prices dipped as the dollar rose on positive U.S. economic data, resulting in gold prices falling steadily.
- The end of the month saw gold rates fall to Rs.3,082 per gram, as the metal lost 2.03% of its value during the month.
Gold Rate Trend in Siliguri for August 2018
- Demand for gold was steady during the month, though fluctuations in demand as a result of the Sino-U.S. trade dispute impacted prices.
- The yellow metal was priced at Rs.3,079 per gram when trading opened for the month, as international demand for bullion stagnated.
- The retaliatory trade tariffs imposed by China and the United States rattled markets and investors, who looked to bullion as a safe-haven asset.
- Gold prices in Siliguri fell to a monthly low of Rs.3,032 per gram on 17 August as both local and international demand fell sharply.
- Prices rose sharply towards the end of the month, with the precious metal trading at Rs.3,116 per gram to register a rise of 2.03% in value.
Gold Rate Trend in Siliguri for September 2018
- The upcoming festive season and volatile markets resulted in an increase in bullion sales, with gold opening the month at Rs.3,129 per gram.
- Prices dropped to a monthly low of Rs.3,114 per gram on 4 September but quickly rebounded as overseas demand for the metal rose.
- Industrial orders were limited as Asian offtake was poor due to the impact of trade tariffs on China’s productivity, but local industrial demand maintained prices.
- There was a surge in demand towards the end of the month as the dollar succumbed to market volatility, as gold traded at Rs.3,186 per gram on 26 September.
- Prices slipped as the month ended, with gold rates in Siliguri closing at Rs.3,167 per gram to record a 1.21% increase in value.
Gold Rate Trend in Siliguri for April 2018 to June 2018 (per gram of 24 karat gold)
|1st day||Rs.3,140 per gram||Rs.3,192 per gram||Rs.3,216 per gram|
|Last day||Rs.3,208 per gram||Rs.3,187 per gram||Rs.3,146 per gram|
|Highest price||Rs.3,224 per gram on 20 April||Rs.3,234 per gram on 14 May||Rs.3,216 per gram on 1 June|
|Lowest price||Rs.3,129 per gram on 7 April||Rs.3,171 per gram on 18 May||Rs.3,146 per gram on 30 June|
Gold Rate Trend in Siliguri for April 2018
- Demand for gold in Siliguri was on the upswing as local and international demand was high, with the metal opening at Rs.3,140 per gram.
- Retail demand for gold kept prices steady, in spite of the dollar rate rising on positive U.S. jobs data reports.
- The trade stand-off between China and the U.S. caused markets to fall briefly, as global trade war fears resulted in higher demand for bullion as a safe-haven asset.
- Prices rose to a monthly high of Rs.3,224 per gram on 20 April as industrial demand peaked following a sharp dip in the dollar rate.
- There was a minor dip in price as the month ended, with gold priced at Rs.3,208 per gram to record a 2.16% rise in value.
Gold Rate Trend in Siliguri for May 2018
- The month began with gold prices falling to Rs.3,192 per gram on sluggish industrial demand and falling retail demand.
- Local jewellers reduced orders as the rupee fell steadily against the dollar, making imports of gold more expensive.
- The upcoming summit between North Korea and the U.S. also boosted the dollar, though equity markets remained volatile due to the escalating trade tensions.
- Gold fell to a monthly low of Rs.3,171 per gram on 18 May after a tumultuous trading day, as local retail demand dropped sharply.
- Prices failed to recover significantly over the rest of the month, as gold closed at Rs.3,181 per gram on 31 May.
Gold Rate Trend in Siliguri for June 2018
- Gold opened the month strongly, trading at Rs.3,216 per gram as investors looked to gold due to wildly fluctuating equity markets.
- The upcoming North Korea-U.S. summit led to some fluctuations in the dollar rate, but demand for gold continued to remain static as investors stayed away from bullion.
- Escalating trade tensions between the U.S. and China over tariffs impacted global economies, but gold prices did not see any traction from the markets falling.
- The drop in prices continued as the month drew to a close, with gold priced at Rs.3,146 per gram due to poor offtake.
Gold Rate Trend in Siliguri for January 2018 to March 2018 (per gram of 24 karat gold)
|1st day||Rs.3,090 per gram||Rs.3,146 per gram||Rs.3,143 per gram|
|Last day||Rs.3,127 per gram||Rs.3,163 per gram||Rs.3,159 per gram|
|Highest price||Rs.3,172 per gram on 25 January||Rs.3,191 per gram on 18 & 19 February||Rs.3,198 per gram on 25 & 26 March|
|Lowest price||Rs.3,088 per gram on 5 January||Rs.3,105 per gram from 10-13 February||Rs.3,117 per gram on 20 March|
Gold Rate Trend in Siliguri for January 2018
- Demand for gold was on the rise during the month of January in Siliguri, with the precious metal priced at Rs.3,090 per gram on 1 January.
- Positive market cues as well as increased demand from local jewellers due to the wedding season led to prices staying high.
- A minor drop led to gold falling to its lowest rate for the month on 5 January when it traded at Rs.3,088 per gram but prices soon picked up.
- Industrial demand was also strong as a weak U.S. Dollar encouraged more orders due to the lower import cost.
- Gold rose to Rs.3,172 per gram on 25 January to record the month’s highest rate before declining demand led to the metal trading at Rs.3,127 per gram on 31 January.
Gold Rate Trend in Siliguri for February 2018
- February saw the yellow metal trade at Rs.3,146 per gram as the month began as local demand led to a surge in price.
- Internal political tensions led to U.S. equity markets trading weakly, which led to investors turning to gold as a hedge against possible losses on the stock markets.
- The dollar rate fell on poor investor sentiment which further boosted demand for bullion as a safe-haven asset, which kept gold rate steady in spite of slight fluctuations in demand.
- Prices fell marginally as local demand fell due to declining retail sales, prompting jewellers to reduce orders.
- Gold fell to Rs.3,105 per gram on 10 February as the dollar recovered, leading to reduced interest in the precious metal.
- Less than favourable economic data led to markets falling sharply as gold prices rose to Rs.3,171 per gram on 18 & 19 February, the highest rate for the month.
- Local demand fell as the high price of gold put off many retail buyers, resulting in the precious metal losing value towards the end of the month.
- Gold ended the month priced at Rs.3,163 per gram on 28 February, registering a 0.50% rise in price over the course of the month.
Gold Rate Trend in Siliguri for March 2018
- Gold traded at Rs.3,143 per gram on 1 March as strong equity markets and a rising dollar rate led to reduced interest in gold.
- Local demand was on the decline as retail sales fell owing to the increased cost, which also affected industrial orders.
- International demand was also sluggish as investors preferred bonds and equities, putting pressure on gold prices.
- Demand was on a steady decline, with gold falling to Rs.3,117 per gram on 17 March due to a strong dollar and poor investor interest.
- Market fluctuations resulted in prices recovering marginally, with gold closing the month at Rs.3,159 on 31 March.
Gold Rate Trend in Siliguri for October 2017 to December 2017 (per gram of 24 karat gold)
|1st day||Rs.3,109 per gram||Rs.3,071 per gram||Rs.3,074 per gram|
|Last day||Rs.3,091 per gram||Rs.3,085 per gram||Rs.3,098 per gram|
|Highest price||Rs.3,138 per gram from 12 to 17 October||Rs.3,123 per gram on 20, 25 and 26 November||Rs.3,098 per gram on 30 and 31 December|
|Lowest price||Rs.3,079 per gram from 27 to 29 October||Rs.3,035 per gram 18 November||Rs.3,001 per gram on 12 and 13 December|
Gold Rate Trend in Siliguri for October 2017:
- Gold opened at Rs.3,109 per gram when the final quarter of 2017 began.
- Gold trade this month was affected by poor local demands and a strong US market. Even some of the key festivals failed to spur investor sentiments.
- Gold price in Siliguri dropped to Rs.3,086 per gram by the 6th due to a considerable drop in demand but surged back to Rs.3,113 per gram after a poor US dollar showing.
- The yellow metal’s rates hit their highest rate of Rs.3,138 per gram on the 12th and continued at this rate till the 18th of the month.
- Towards the final few days of the month, gold rate in Siliguri seemed to decline before picking up over the 30th and the 31st.
- When the month came to an end, the yellow metal was priced at Rs.3,091 per gram.
- Price trends dropped by 0.57% this month due to poor global cues and weak local demand.
Gold Rate Trend in Siliguri for November 2017:
- Gold trading in November was remained mostly positive and prices seemed to rise consistently over the course of the month.
- When trading started for November, gold opened at Rs.3,071 per gram.
- There were a lot of price fluctuations for most part of the month but a steady local demand kept gold rates from witnessing any major changes.
- However, as the US dollar improved against other currencies, gold ratein Siliguri fell and hit Rs.3,035 per gram on the 18th - the lowest rate for the month.
- As festive season approached, gold prices in Siliguri seemed to incline towards the final week of the month.
- Gold traded at its highest rate of Rs.3,123 per gram on the 20th, the 25th and the 26th of the month as some festive season buying from traders pushed rates up.
- However, prices dropped when the month came to an end and the metal traded at Rs.3,085 per gram
- Price trends this month inclined by 0.45%, thanks to robust demand seen as the month reached its end.
Gold Rate Trend in Siliguri for December 2017:
- When trading began for the final month of Q4 2017, the yellow metal was priced at Rs.3,074 per gram.
- Gold price in Siliguri dropped to new lows on the 12th - to trade at Rs.3,011 per gram - as demand for the metal was largely affected by a rising US dollar.
- The third week onwards saw gold prices improve considerably as the US dollar seemed to lose some of its sheen.
- Gold rates in Siliguri, in fact, hit its highest for the month on the 30th and the 31st of the month when it traded at Rs.3,098 per gram as demand increased amid a poor dollar.
- Price trends saw a 0.78% incline this month, thanks to improved demand towards the final few days of the year.
Gold Rate Trend in Siliguri for July 2017 to September 2017 (per gram of 24 karat gold)
|1st day||Rs.3,011 per gram||Rs.3,005 per gram||Rs.3,041 per gram|
|Last day||Rs.3,001 per gram||Rs.3,041 per gram||Rs.3,109 per gram|
|Highest price||Rs.3,044 per gram on 3 July||Rs.3,072 per gram on 17 August||Rs.3,185 per gram from 8-11 September|
|Lowest price||Rs.2,903 per gram on 14 July||Rs.2,971 per gram on 7 August||Rs.3,041 per gram on 1 & 2 September|
Gold Rate Trend in Siliguri for July 2017:
- Gold rates in Siliguri remained comparatively on the better side compared to other cities in the country.
- Price drops were on the subdued side in the hilly town of West Bengal as local trading wasn’t as affected by GST.
- On the 1st of July, gold was priced at Rs.3,011 per gram. As local traders saw the impending impact of GST, they increased their purchases.
- This led to gold rate in Siliguri surging to Rs.3,044 per gram on the 3rd of the month.
- But, rates began to fall from the 4th onwards before dropping to a significant low of Rs.2,903 per gram on the 14th of July.
- This was mostly because of a weak demand, which was weakened further by a strong US dollar.
- Gold price in Siliguri improved over the final few days of the month to close at Rs.3,001 per gram on the 30th of July.
- Price trends saw a decline of 0.33% in the city, which was better when compared to other major cities.
Gold Rate Trend in Siliguri for August 2017:
- Festive demand combined with a weak US market led to gold rates increasing this month.
- On the 1st of August, the yellow metal was priced at Rs.3,005 per gram, but fell over the course the first week due to an unexpected gain in the US economy.
- Gold rate in Siliguri hit a monthly low figure of Rs.2,971 per gram on the 7th of September before rising over remainder of the month.
- The 17th saw gold trade at Rs.3,072 per gram - the month’s highest rate - as local jewellers increased their purchases to meet the upcoming festive demand.
- Towards the end of the month, gold rates saw another surge due to a fall in the US dollar brought about by Hurricane Harry, which wreaked havoc on key US cities.
- When the month ended, gold was seen trading at Rs.3,041 per gram.
- Gold prices increased by as much as 1.19% this month, thanks to increased buying in local circles.
Gold Rate Trend in Siliguri for September 2017:
- Gold opened at Rs.3,041 per gram for the month of September.
- Demand remained stable for much of the first week before surging to Rs.3,185 per gram on the 8th of September.
- Rates were so high for three days because the US dollar plummeted after North Korea’s latest nuclear test sent US markets crashing.
- However, the US dollar picked up after the initial fall to keep gold rate in Siliguri respectable for the remainder of the month.
- Gold rates were largely steady before surging towards the end of the month as festive season loomed large.
- When the month came to an end, the yellow metal was seen trading at Rs.3,109 per gram.
- Overall, gold price in Siliguri surged by 2.23% this month as a potential war between the US and North Korea didn’t reflect well on the market.
Gold Rate Trend in Siliguri for April 2017 to June 2017 (per gram of 24 karat gold)
|1st day||Rs.3,011 per gram||Rs.3,021 per gram||Rs.3,030 per gram|
|Last day||Rs.3,021 per gram||Rs.3,015 per gram||Rs.3,011 per gram|
|Highest price||Rs.3,096 per gram on 17, 22 & 23 April||Rs.3,034 per gram on 30 May||Rs.3,080 per gram on 7 June|
|Lowest price||Rs.3,011 per gram from 1-3 April||Rs.2,937 per gram on 11 May||Rs.2,994 per gram on 19 & 20 June|
Gold Rate Trend in Siliguri for April 2017:
- When trading began for the month of April, gold was priced at Rs.3,011 per gram and remained unchanged till the 3rd of April.
- The 4th saw prices increase to Rs.3,034 per gram as a negative US economic data led to an increased demand worldwide.
- After the slight rise, gold price in Siliguri fell to Rs.3,024 per gram due to there being very little demand from local investors.
- Gold rates hit a monthly low of Rs.3,005 per gram due to unusually low demand on the 10th but bounced back to Rs.3,058 per gram on the 12th.
- On the 22nd, gold rate in Siliguri reached a monthly high of Rs.3,096 per gram as demand surged in the local circles.
- However, gold price in Siliguri fell over the subsequent day and hit a 15-day low of Rs.3,010 per gram on the 26th.
- During the last day of April, gold was seen trading at Rs.3,021 per gram - and the month overall saw price trends rise by 0.33%, thanks to a sustained demand.
Gold Rate Trend in SIliguri for May 2017:
- On the 1st of the month, gold was priced at Rs.3,021 per gram but went down to Rs.3,002 per gram on the 2nd and then to Rs.2,994 per gram on the 4th.
- As there was very little demand in the local circles - due to a rising US dollar - gold prices went down to Rs.2,953 per gram on the 5th.
- Over the next few days, gold rate in Siliguri kept fluctuating and trading in the sub-Rs.2,940 range till the 16th of the month.
- However, as some volatility brought about by Trump administration gripped the market, gold prices seemed to pick up briefly.
- On the 17th, gold was trading at Rs.2,957 per gram, which then increased to Rs.3,003 per gram on the 18th.
- For the next few days, starting 24th and ending 28th, gold prices saw some major fluctuations rising and falling multiple times in this period.
- When trading for the month came to an end, gold price in Siliguriwere holding at Rs.3,015 per gram.
Gold Rate Trend in Siliguri for June 2017:
- When the last month of Q2 2017 began, gold was priced at Rs.3,030 per gram before falling to Rs.3,011 per gram the next day.
- On the 3rd, prices rose to Rs.3,048 per gram and then to Rs.3,080 per gram on the 7th as US dollar rates fell considerably - affecting gold rates worldwide.
- The rates seen on the 7th also happened to the the highest for the month - which was indicative of a comparatively strong dollar showing for the remaining days of the month.
- During the 9th, gold pricein Siliguri went down to Rs.3,032 per gram and continued at nearly the same rate for the next 5 days.
- However, prices fell on the 15th to Rs.3,012 per gram and then to Rs.2,994 per gram on the 19th - the month’s lowest rates.
- Over the last ten days of June 2017, gold demand was stable which led to the metal trading at Rs.2,999 per gram for the first 5 days and then going up to Rs.3,011 per gram over the latter 5 days.
- The month ended with gold trading at Rs.3,011 per gram.
- Gold prices in SIliguri fell by 0.62% during this month as the US dollar rallied as the month progressed.
Gold Rate Trend in Siliguri for January 2017 to March 2017 (per gram of 24 karat gold)
|1st day||Rs.2,843 per gram||Rs.2,989 per gram||Rs.3,030 per gram|
|Last day||Rs.2,989 per gram||Rs.3,008 per gram||Rs.2,987 per gram|
|Highest price||Rs.3,014 per gram on the 24th of January||Rs.3,010 per gram from the 20th of February to the 22nd of February||Rs.3,030 per gram on the 1st and 27th of March|
|Lowest price||Rs.2,838 per gram on the 2nd of January||Rs.2,977 per gram on the 2nd of February||Rs.2,945 per gram on the 15th of March|
Gold Rate Trend for Siliguri in January 2017
- On the 1st of January, gold traded at Rs.2,843 per gram in Siliguri which was one of the lower rates noted. This was due to low demand for this metal from investors and jewellers.
- The rate of gold fell even more the next day to trade at Rs.2,838 per gram and this was the lowest at which gold traded for the month of January.
- Due to increase in demand, the rate of gold recovered over the next few days. There were also a few variations noted in the price of gold due to fluctuating demand for this metal.
- Price of gold was steady at Rs.2,961 per gram from the 14th to the 16th of January and increased further thereafter.
- Due to heavy demand, the rate of gold shot up to Rs.3,014 per gram on the 24th of January and this was the highest at which gold traded for the month.
- A rise of 5.13% was noted in the price of gold as the month of January came to an end in Siliguri.
Gold Rate Trend for Siliguri in February 2017
- Gold was priced at Rs.2,989 per gram on the 1st of February before falling to Rs.2,977 per gram which was the lowest at which gold traded at for the month of February.
- However, due to a rise in the demand for this precious metal, the price of gold increased steadily as the week progressed.
- During the second and third week of February, the rate of gold was relatively steady with a few minor fluctuations here and there. Gold traded steadily at Rs.2,980 per gram from the 7th of February until the 12th of February.
- From the 13th, due to a minor reduction in the value of the U.S.Dollar, the rate of gold increased to trade at Rs.2,991 per gram. This rate was noted until the 19th of February.
- Gold traded at Rs.3,010 per gram from the 20th of February till the 22nd of February which was also the highest rate of gold for the month.
- However, as demand dropped, the rate of gold marginally fell as well to trade at Rs.3,008 per gram, recording an incline of 0.63% in the price of gold during the month.
Gold Rate Trend for Siliguri in March 2017
- On the first day of the month, gold was priced at Rs.3,030 per gram in Siliguri which was also the highest at which the metal traded for the month. This rate was again noted only on the 27th of the month.
- Demand for this metal fell marginally thereafter resulting in a decline in the value of gold. Gold traded at Rs.2,980 per gram on the 10th of March but increased as the week progressed.
- Due to the impact of the Dutch elections as well as the U.S. Fed’s decision regarding the rate of interest, the price of gold plunged to a monthly low of Rs.2,950 per gram on the 15th of March.
- A marginal recovery was noted in the rate of gold hereafter however.
- From the 23rd of March, a significant recovery in gold rate was witnessed because of which gold traded at above Rs.3,000 until the 30th of March.
- By the end of the month, the rate of gold fell again with a decline of 1.41% in the rate of this metal.
|1st day||Rs.3,244 per gram||Rs.3,130 per gram||Rs.2,884 per gram|
|Last day||Rs.3,130 per gram||Rs.2,926 per gram||Rs.2,843 per gram|
|Highest price||Rs.3,244 per gram from 1st October to 11th October||Rs.3,190 per gram on 3rd November and 4th November||Rs.2,909 per gram on 5th and 6th December|
|Lowest price||Rs.3,103 per gram on 14th of October||Rs.2,919 per gram on 27th of November||Rs.2,749 per gram from 24th December to 28th December.|
Gold Rate Trend for Siliguri in October 2016
- Gold rate was at Rs.3,244 per gram on 1st October in Siliguri, with prices remaining constant due to sustained demand. The rate of gold was the same until the 11th of October. This trend was seen throughout the month wherein rate of gold was largely steady for days at a time before varying slightly. This was also the highest at which gold traded for the month of October in Siliguri.
- On the 14th of October, rate of gold reduced to a low of Rs.2,103 per gram due to market fluctuations and a decrease in demand for this precious metal.
- However, gold rate improved marginally after this.
- However, despite the stability in prices, there was a decline of 3.51% noted in the price of gold at the end of October.
Gold Rate Trend for Siliguri in November 2016
- During the beginning of November, price of gold in Siliguri was quite high at Rs.3,190 per gram. This rate was sustained until the next day as well after which prices increased steeply to Rs.3,190 on the 3rd November and 4th November. This was also the highest rate at which gold was priced during the month.
- A high demand was noted in domestic and international markets which contributed to an increase in the rate of gold. However, this demand declined as the month progressed due to market fluctuations and other factors.
- On the 5th of November, the rate of gold was Rs.3,102 per gram and stayed steady at this the next day as well.
- On November 8th, Prime Minister Narendra Modi announced the ban of cash notes worth Rs.500 and Rs.1,000 in order to curb corruption and the rise of black money. This was termed as demonetization. There was a severe cash crunch after this but the price of gold remained high with a few minor fluctuations.
- Gold reached Rs.3,154 per gram in the aftermath of the demonetisation announcement and stayed there for a couple of days until the 13th of November before reducing again.
- Rate of gold continued to decline as the weeks progressed before trading at a low of Rs.2,919 per gram on the 27th of November after which a marginal increase was witnessed in gold rate.
- As the month drew to a close the price of gold varied before closing at Rs.2,926 per gram which was quite low as compared to the previous months. A number of factors contributed to a decline of 6.51% in the price of gold.
Gold Rate Trend for Siliguri in December 2016
- The price of gold on the 1st of December was Rs.2,884 per gram and this rate was steady until the next day.
- However, this rate could not be sustained any further and reduced to Rs.2,877 per gram. This rate was the sustained until the next day after which there was an increase of Rs.32 in the rate of gold
- However, as the weeks progressed, the price of gold declined with a few minor variations here and there.
- From 15th December to 20th of December, the rate of gold was steady at Rs.2,808 per gram which could be attributed to sustained demand both in India and abroad.
- During the last week of December, gold rate was steady at Rs.2,800 per gram which was the lowest price at which gold traded for the month of December.
- Prices declined after the 20th to hover between Rs.2,767 per gram to Rs.2,848 per gram. The lowest rate at which gold traded for the month of december was noted on the 24th of December until the 26th of December wherein gold was priced at Rs.2,749 per gram.
- On the last day of the month, the price of gold was Rs.2,843 per gram. A decline of 1.42% was recorded over with respect to gold rate.
|1st day||Rs.3,252 per gram||Rs.3,271 per gram||Rs.3,218 per gram|
|Last day||Rs.3,292 per gram||Rs.3,237 per gram||Rs.3,244 per gram|
|Highest price||Rs.3,305 per gram on 7th July||Rs.3,287 per gram on 5th to 7th August||Rs.3,244 per gram from 7th September to 29th September|
|Lowest price||Rs.3,218 per gram on 27th and 29th July||Rs.3,232 per gram on 9th August||Rs.3,200 on 5th and 6th September|
Gold Rate Trend of Siliguri in July 2016
- Gold traded at Rs.3,252 per gram on 1st July.
- Gold prices climbed in the first week with the highest price for this month recorded on 7th July at Rs.3,305.
- Demand for gold was stable in the domestic market as well as the global market.
- Expectations of the Fed rate hike were present but did not affect gold rates drastically.
- Gold traded at Rs.3,292 per gram on the last day of July which marked an increase of 1.23% in gold rates this month.
Gold Rate Trend of Siliguri in August 2016
- The price of gold was Rs.3,271 per gram on 1st August.
- Demand was high at the start of the month, but strong anticipation of the interest rate hike by the U.S. Federal Reserve flooded the market.
- Bearish sentiments sent gold prices down.
- On 5th to 7th August, gold traded at Rs.3,287 per gram the highest price of the month.
- Gold rates fell to Rs.3,237 per gram by the end of the month.
- There was a drop in gold rates by 1.04% this month.
Gold rate trend of Siliguri in September 2016
- Initially, trends in the global market had its negative effects on gold rates.
- Bearish sentiments soon turned bullish as the U.S. Federal Reserve put the interest rate hike on hold.
- Gold traded at Rs.3,218 per gram at the start of the month, and by 7th September, prices climbed to Rs.3,244 per gram.
- A constant trend swept over prices in Siliguri as demand was stable.
- Gold traded at Rs.3,244 per gram till the end of the month.
|1st Day||Rs. 2,989 per gram||Rs. 3,154 per gram||Rs.3,015 per gram|
|Last Day||Rs. 3,154 per gram||Rs. 3,018 per gram||Rs.3,221 per gram|
|Highest Price||Rs. 3,154 per gram on April 30||Rs. 3,154 per gram on May 20||Rs.3,266 per gram on 27th June|
|Lowest Price||Rs. 2,989 per gram on April 5||Rs. 3,018 per gram on May 31||Rs.2,988 per gram on 3rd June|
|Trend||Rise||Decline||Increase in price|
Gold Rate Trend of Siliguri in April 2016
- Gold opened the month at Rs. 2,989 per gram.
- Gold prices fluctuated quite a bit in the month of April owing to lukewarm response from Jewellers and traders.
- Gold closed the month at Rs. 3,154 per gram.
Gold Rate Trend of Siliguri in May 2016
- There were no major changes in demand and the rate remained unchanged at Rs. 3,154 per gram on the first day of May.
- Gold price reduced as the month progressed in the expectation of a federal reserve rate hike.
- The price declined to Rs. 3,018 per gram on the 31st of May.
Gold Rate Trend of Siliguri in June 2016
- Gold prices increased steadily as the demand for gold rose due to increased demand and the British referendum.
- Prices stabilised around the middle of the month as domestic demand was steady in spite of global demand being stagnant.
- The referendum led to market fluctuations and gold prices rising, with the Dollar weakening.
- The referendum result prompted investors to invest in gold, pushing prices up.
- Gold closed at Rs.3,221 per gram.
|1st Day||Rs. 2,601 per gram||Rs. 2,775 per gram||Rs. 3,068 per gram|
|Last Day||Rs. 2,775 per gram||Rs. 3,068 per gram||Rs. 2,989 per gram|
|Highest Price||Rs. 2,789 per gram on January 27th||Rs. 3,068 per gram on February 29th||Rs. 3,093 per gram on March 12th|
|Lowest Price||Rs. 2,601 per gram on January 1st||Rs. 2,775 per gram on February 1st||Rs. 2,989 per gram on March 31st|
Gold Rate Trend of Siliguri in January 2016
- Gold traded at Rs. 2,601 per gram on the 1st of January without many changes over the few days
- Gold rose steadily in the month of January owing to good demand.
- Gold hit the highest rate for January on 31st at Rs. 2,775 per gram.
Gold Rate Trend of Siliguri in February 2016
- Gold traded at the same rate as on the last day of January on the first day of February too at Rs. 2,775 per gram.
- February witnessed a steady rise in Gold prices as it shot up to Rs. 3,068 per gram on 26th of February.
- Gold gained by 10.55% in the month of February.
Gold Rate Trend of Siliguri in March 2016
- Gold managed to hold steady at Rs. 3,068 on the 1st of March.
- Gold hit its highest for the month at Rs. 3,093 per gram on the 12th of March
- But gold witnessed a steady downfall in the last two weeks of March and stood at Rs. 2,989 per gram at the end of March.
Gold investment avenues in Siliguri
Investing in gold is extremely popular in India, and people strive to own gold regardless of the place they stay in. Residents of Siliguri are no different, and purchase gold both as an investment and as family heirlooms. Most weddings and celebrations require gold purchase, with people passing it down from generation to generation. Two of the popular modes to invest in gold in Siliguri are mentioned below.
Over-the-counter – Most residents of Siliguri prefer to buy gold from jewellery stores, with the town having a number of such stores offering different products. Gold bars, coins, jewellery (bangles, bracelets, chains, etc.) are the popular modes of owning gold. One can buy gold coins from banks as well, though the cost of gold purchased from banks can be costlier on account of purity certificates provided by them. One can buy gold of different purity levels from jewellers, while banks typically offer either 22 or 24 karat gold only.
Market trade – Market trade of gold is not very popular in Siliguri, with people preferring over-the-counter purchases. Individuals who are keen on investing in gold through the markets, can however do so through the Mumbai Stock Exchange or the National Stock Exchange, with an option to invest in gold ETFs, gold futures or E-gold.
Also Check Gold Price in NearBy Cities of Siliguri
|Gold Rate In Kolkata||Gold Rate In Ranchi||Gold Rate In Jamshedpur|
|Gold Rate In Guwahati||Gold Rate In Patna|
- Also Check: Gold Rate in West Bengal
Read more on Gold
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- Which One Should You Buy Gold Coins Or Gold Bars
- Gold Prices in 2016
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