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Gold Rate in Srinagar
Srinagar is among the most beautiful capital cities in India. The city is steeped in scenic beauty and is among the top tourist destinations in the country. The residents of Srinagar have an affinity towards gold and this is evident in the demand for gold and gold products in the city. Gold rates in Srinagar provide a good benchmark for gauging gold rates in this northernmost state of India.
The primary demand for gold in Srinagar is in the form of jewelleries and ornaments. The city has branches of some of the largest gold traders in the country, providing the residents with ample options to buy gold from. The demand is both from the urban populace as well as the rural folks.
Gold Rate Trend in Srinagar for January 2018 to March 2018 (per gram of 24 karat gold)
|1st day||Rs.3,010 per gram||Rs.3,077 per gram||Rs.3,113 per gram|
|Last day||Rs.3,066 per gram||Rs.3,129 per gram||Rs.3,134 per gram|
|Highest price||Rs.3,120 per gram on 24 & 25 January||Rs.3,161 per gram on 18 & 19 February||Rs.3,171 per gram on 25 & 26 March|
|Lowest price||Rs.3,010 per gram from 1-3 January||Rs.3,035 per gram on 9 February||Rs.3,098 per gram on 19 & 20 March|
Gold Rate Trend in Srinagar for January 2018:
- The month began in Srinagar with the precious metal trading at Rs.3,010 per gram on the 1st of January.
- With the dollar holding on to its gains during the initial few days, the bullion was priced on the weaker side of the month.
- Prices remained untouched at Rs.3,010 per gram until the 3rd with subdued but steady demand from local jewellers, retailers and industries at the domestic level. This was also the lowest recorded monthly figure in the city.
- However, with the dollar losing against other currencies following the weaker-than-expected US employment reports, investor demand rose globally.
- Gold rates in Srinagar rose to Rs.3,120 per gram - the highest recorded monthly figure - on the 24th with the bullion capitalising on the poor US inflation data.
- Strong safe haven demand coupled with positive overseas trends led to gold rates remaining untouched at Rs.3,120 per gram the next day.
- Trading concluded for the month with the yellow metal prices holing at Rs.3,066 per gram on the 31st after the recovering greenback resulted in declining investor demand for the metal.
- Srinagar registered a profit of 1.19% in bullion trade due to the strong global cues that pushed demand higher during the month.
Gold Rate Trend in Srinagar for February 2018:
- Trading commenced for the month with the precious metal priced relatively higher at Rs.3,077 per gram on the 1st after a drop in the dollar value led to gold prices surging in the global bullion market.
- The second week saw gold rates in Srinagar plunging to its lowest monthly level at Rs.3,035 per gram on the 9th after a positive US employment report indicated a rise in the number of jobs contributing to the US economy.
- However, the next few days saw gold prices gradually picking up with investors banking on the safe-haven metal to hedge against inflation concerns.
- The 18th witnessed gold prices hitting their highest recorded monthly figure of Rs.3,161 per gram, thanks to strong investor demand coupled with positive global cues.
- Prices remained untouched at Rs.3,161 per gram on the 19th with steady demand from local jewellers, retailers and industries amid the strong trend overseas.
- As the month progressed, gold rates dropped to Rs.3,100 per gram range with the US dollar regaining lost ground in the international market.
- The month came to an end with gold prices holding at Rs.3,129 per gram on the 28th with subdued but steady demand from industries at the domestic level.
- Srinagar recorded an incline of 1.68% in gold rates during the course of the month.
Gold Rate Trend in Srinagar for March 2018:
- The final month of the quarter began with gold trading at Rs.3,113 per gram on the 1st with the US dollar continuing to rise against other apex currencies in the world markets.
- However, demand for the metal picked up in the domestic level as the dollar lost sheen over the next few days.
- Prices remained mostly stable during the initial three weeks before plummeting to a monthly low figure of Rs.3,098 per gram on the 19th after the US dollar index rose against a basket of other emerging currencies, strengthening the US greenback.
- Gold rates remained unaltered at Rs.3,098 per gram the next day before a steep decline in the dollar value resulted in an increased demand for the metal.
- Strong domestic demand coupled with positive global trends led to gold prices surging to Rs.3,171 per gram - the highest recorded monthly figure - on the 25th.
- The month concluded with the precious metal prices holding firm at Rs.3,134 per gram on the 31st and gold rates in Srinagar recorded an incline of 0.67% during the course of the month.
Gold Rate Trend in Srinagar for October 2017 to December 2017 (per gram of 24 karat gold)
|1st day||Rs.3,063 per gram||Rs.3,006 per gram||Rs.3,016 per gram|
|Last day||Rs.3,026 per gram||Rs.3,026 per gram||Rs.3,020 per gram|
|Highest price||Rs.3,072 per gram from 12 to 16 October||Rs.3,060 per gram from 18 to 20 November||Rs.3,036 per gram from 2 to 4 December|
|Lowest price||Rs.3,026 per gram on 27, 30 and 31 October||Rs.3,006 per gram on 1 November||Rs.2,910 per gram on 11 to 13 December|
Gold Rate Trend in Srinagar for October 2017:
- October’s trading started with gold trading at Rs.3,063 per gram in Srinagar - Jammu and Kashmir’s capital city.
- The metal’s prices fluctuated for the first two weeks due to uneven demand from local circles brought about by a fluctuating dollar.
- By the 12th, gold rate in Srinagar hit Rs.3,072 per gram - the month’s highest rate - and continued till the 15th of the month.
- However, the US dollar continued to mount its comeback and gold rates seemed to fall as the month wore off.
- Gold rate in Srinagar hit their lowest for the month on the 30th and the 31st of October when the metal traded at RS.3,026 per gram.
- There was a 0.26% decline in gold price trends which was caused by poor demand in the domestic market.
Gold Rate Trend in Srinagar for November 2017:
- When trading began in Srinagar for the month of November, gold was priced at Rs.3,006 per gram, which was a Rs.20 decline from the previous day’s rates.
- As demand for the yellow metal continued to remain low, gold rates in Srinagar dropped to Rs.3,005 per gram on the 6th of the month.
- However, a falling trend with regards to the US dollar brought about a gradual surge in gold prices. After much fluctuations gold rate in Srinagar reached their highest monthly figures towards the 18th of the month when it traded at Rs.3,060 per gram.
- Gold continued to trade at Rs.3,060 per gram till the 20th as jewellers continued to increase purchases to meet festive demand.
- With the dollar clawing back as the month progressed, gold rates went down to Rs.3,026 per gram on the final day of November.
- Gold price trends inclined by as much as 0.66% this month due to a rise in festive demand and a slightly weakened dollar.
Gold Rate Trend in Srinagar for December 2017:
- December commenced with gold trading at Rs.3,016 per gram. This rose to Rs.3,036 per gram on the 2nd - and continued till the 4th - as volatility in the US market pushed safe haven demand to new heights.
- Prices seen between the 2nd to the 4th were the highest gold rates for this month, which was brought about by US President Donald Trump’s introduction of new tax laws.
- The backlash the new tax structure brought had a considerable bearing on the way gold prices changed.
- By the 11th gold prices dropped considerably to Rs.2,940 per gram as the US markets bounced back after some poor showing towards the beginning of the month.
- Gold rates improved over the course of the next two weeks and gold close at Rs.3,020 per gram on the 31st of December.
- Price trends had witnessed a 0.13% incline as demand picked up after falling significantly towards during the second week.
Gold Rate Trend in Srinagar for July 2017 to September 2017 (per gram of 24 karat gold)
|1st day||Rs.2,992 per gram||Rs.2,960 per gram||Rs.3,024 per gram|
|Last day||Rs.2,950 per gram||Rs.2,999 per gram||Rs.3,063 per gram|
|Highest price||Rs.2,992 per gram on 1 & 2 July||Rs.3,017 per gram on 28 August||Rs.3,130 per gram on 8 September|
|Lowest price||Rs.2,843 per gram on 12 & 13 July||Rs.2,930 per gram on 3 & 6 August||Rs.3,024 per gram on 1 September|
Gold rate trend in Srinagar for July 2017
- Gold trade opened in Srinagar with the yellow metal trading at Rs.2,992 per gram for the month of July.
- The rising dollar and the implementation of GST led to gold priced being affected in the next couple of weeks.
- On the 12th, gold rates in Srinagar plunged to Rs.2,843 per gram as local demand declined with the newly approved 3% Goods and Services Tax on the precious metal. This was also the lowest recorded monthly figure in Srinagar.
- However, demand seemed to pick up with investors banking on the safe-haven metal amid the US-North Korean overseas conflicts.
- When trading commenced for the month, gold rate in Srinagar were recorded at Rs.2,950 per gram.
- Srinagar witnessed prices declining at 1.40% during the course of the month owing to poor domestic trends and reduced local demand.
Gold rate trend in Srinagar for August 2017
- The month of August witnessed the bullion trade being greatly influenced by the geopolitical crisis prevailing in the US and North Korea.
- When the month began, the precious metal was recorded trading at Rs.2,960 per gram.
- The 3rd, however, saw gold rates in Srinagar declining to Rs.2,930 per gram - the lowest recorded monthly figure - as demand took a hit from the ongoing Federal Reserve meetings.
- With the stand-off between the US and North Korea taking centre-stage, safe-haven investments rose globally, pushing demand higher for metals like gold.
- The US dollar collapsed amid the conflicts and gold prices in Srinagar surged to Rs.3,017 per gram on the 28th. This was also the highest recorded monthly figure in the state.
- The month concluded with the yellow metal being priced at Rs.2,999 per gram.
- Gold trade in Srinagar registered a profit of 1.30% due to strong global cues compounded by an improved domestic demand during the month.
Gold rate trend in Srinagar for September 2017
- Both, global as well as domestic factors played an integral part in Srinagar’s bullion trade during the month.
- The 1st of September saw gold rate in Srinagar being recorded at Rs.3,024 per gram.
- Prices surged to Rs.3,130 per gram on the 8th after safe-haven demand skyrocketed in the global trade amid the US-North Korea conflicts, and the later announced their successful nuclear tests.
- The US economy, however, improved over the next couple of weeks with firmer markets and the dollar gaining against most of the major emerging currencies.
- This led to the yellow metal being priced at Rs.3,063 per gram on the last day.
- Positive global, as well as domestic trends resulted in gold price in Srinagar rising by 1.27% during the month.
Gold Rate Trend in Srinagar for April 2017 to June 2017 (per gram of 24 karat gold)
|1st day||Rs.2,991 per gram||Rs.3,011 per gram||Rs.3,012 per gram|
|Last day||Rs.3,011 per gram||Rs.2,992 per gram||Rs.2,992 per gram|
|Highest price||Rs.3,068 per gram on 15 April and 16 April||Rs.3,011 per gram on 1 May and 2 May||Rs.3,057 per gram on 7 June|
|Lowest price||Rs.2,983 per gram from 8 April to 10 April||Rs.2,918 per gram from 12 May to 15 May||Rs.2,982 per gram from 17 June to 22 June|
Gold Rate Trend in Srinagar for April 2017:
- When gold trading began in Srinagar for April 2017, the yellow metal was priced at Rs.2,991 per gram.
- Price of gold in Srinagar remained at Rs.2,991 per gram for the next two days as demand remained unchanged.
- On the 4th, however, gold prices increased to reach Rs.3,003 per gram - a Rs.12 incline - as demand went up slightly.
- Rates held on at Rs.3,003 per gram till the 7th but decreased to hit Rs.2,983 per gram on the 8th, which happened to be the lowest gold rate in the city for April.
- Though rates didn’t change on the 9th and the 10th, they went up to Rs.2,998 per gram on the 11th before increasing significantly by Rs.38 to go up to Rs.3,036 per gram on the 12th.
- Gold Price in Srinagar fluctuated slightly over the next few days but hit Rs.3,068 per gram on the 15th - the highest gold rate this month.
- From the 17th, there were more fluctuations to be seen as a result of rising US dollar value and positive market data.
- By the 19th, gold price in Srinagar had gone up to Rs.3,057 per gram and then to Rs.3,062 per gram by the 22nd.
- Rates, however, fell for the next few days, before ending the month at Rs.3,011 per gram.
- Even though there were some significant fluctuations, gold price in Srinagar inclined at a rate of 0.66% in Srinagar.
Gold Rate Trend in Srinagar for May 2017:
- Gold prices in Srinagar for May started at Rs.3,011 per gram. Prices fell significantly this month as demand was low.
- The low demand was brought about by a surging US dollar rate and a subsequent drop in demand from local jewellers.
- By the end of the first week, i.e, the 9th, gold prices had decreased by Rs.49 to hit Rs.2,952 per gram.
- On the 8th, gold price in Srinagar went down to Rs.2,942 per gram and declined further to hit Rs.2,918 per gram by the 15th.
- However, bullion recovered after US dollar value fell. On the 17th, gold was trading at Rs.2,939 per gram.
- After some more fluctuations, gold rate in Srinagar remained steady towards the end of the month to close at Rs.2,992 per gram.
- Overall, gold prices in Srinagar had declined by 0.49% in the month of May.
Gold Price Trend in Srinagar for June 2017:
- In international terms, June was a key month for gold pricing as Euro rates surged after Emmanuel Macron became the president of France.
- The month began with gold trading at Rs.3,012 per gram.
- As US dollar value went down, demand in local circles increased which pushed gold prices up to Rs.3,037 per gram by the 5th.
- Price of gold in Srinagar went up to Rs.3,057 per gram by the 7th - the highest gold rate for the month.
- Over the next two weeks prices fluctuated considerably - falling for the most part as demand subsided.
- Gold was priced at Rs.3,017 per gram on the 9th but had gone down to Rs.2,982 per gram by the end of the 19th.
- Bullion rates remained at Rs.2,982 per gram till the 22nd before increased slightly to Rs.2,987 per gram on the 23rd.
- During the last two days of June, gold was still trading at Rs.2,992 per gram.
- Gold price trends decreased at a rate of 0.66% in June as there was significantly less demand in the city when compared to other major metropolises.
Gold Rate Trend in Srinagar for January 2017 to March 2017 (per gram of 24 karat gold)
|1st day||Rs.2,844 per gram||Rs.2,978 per gram||Rs.3,009 per gram|
|Last day||Rs.2,958 per gram||Rs.3,020 per gram||Rs.2,991 per gram|
|Highest price||Rs.2,979 per gram on 23rd and 24th of January||Rs.3,031 per gram from 25th February to 27th||Rs.3,009 per gram on the 1st and 2nd of March|
|Lowest price||Rs.2,844 per gram from 1st January to 3rd February||Rs.2,957 per gram from 4th February to 6th February||Rs.2,950 per gram on 15th March|
Gold Rate Trend for Srinagar in January 2017
- On the 1st day of January in Srinagar, gold traded at Rs.2,844 per gram and stayed steady at this rate until the 3rd of the month.
- Due to an increase in the demand for this metal, the rate of gold went up marginally to trade at Rs.2,855 per gram before increasing even further to trade at Rs.2,866 per gram from the 5th of January to the 9th.
- There were a few minor variations noted in the rate of this metal throughout the month.
- On the 24th of January, gold traded at Rs.2,979 per gram which was the highest at which gold traded at for the month. This rate was seen the next day as well.
- At the end of January gold was priced at Rs.2,958 per gram, recording a rise of 4% in the rate of gold.
Gold Rate Trend for Srinagar in February 2017
- Gold traded at at Rs.2,978 per gram on the 1st of February and was stable at this rate until the 3rd of February.
- However, on the 4th of the month, the price of gold reduced due to a rise in the value of the U.S.Dollar trading at Rs.2,957 per gram.
- This rate was stable until the 6th of February after which the rate of gold increased again.
- Due to increased demand from investors the price of gold shot up to Rs.3,009 per gram on the 8th of February and stayed steady at this rate until the 10th of February before reducing again.
- The rate of gold was stable at Rs.2,999 per gram from the 18th of February to the 24th of February due to heavy demand.
- On the last day of the month of February gold traded in Srinagar at Rs.3,020 per gram recording an incline of 1.41% in the price of gold.
Gold Rate Trend for Srinagar in March 2017
- This yellow metal traded at Rs.3,009 per gram on the 1st of March and stayed at this rate until the 2nd as well
- However, the price of gold fell the next day to trade at Rs.2,990 per gram and stayed steady at this rate until the 6th before reducing again.
- Due to the i U.S. Fed’s decision regarding the rate of interest, the price of gold fell to a monthly low of Rs.2,950 per gram on the 15th of March.
- A slight recovery was noted in the rate of gold hereafter however.
- The price of gold fluctuated between Rs.3,003 per gram and Rs.2,993 per gram between the 22nd of March and 26th of March, before steadily trading at Rs.3,003 per gram from the 27th of March to the 30th of March.
- As March came to an end, gold traded at Rs.2,991 per gram recording a decline of 0.59% in the price of gold.
Gold Rate Trend in Srinagar for October 2016 to December 2016 (per gram of 24 karat gold)
|1st day||Rs.3,205 per gram||Rs.3,099 per gram||Rs.2,893 per gram|
|Last day||Rs.3,099 per gram||Rs.2,930 per gram||Rs.2,844 per gram|
|Highest price||Rs.3,205 per gram from 1st-4th October||Rs.3,213 per gram on 5th November and 6th November||Rs.2,893 per gram on 1st December|
|Lowest price||Rs.3,088 per gram from the 6th of October to the 25th of October||Rs.2,929 per gram from 25th November to 27th November||Rs.2,800 per gram from 23rd December to 28th December.|
Gold Rate Trend for Srinagar in October 2016
- Gold was priced at Rs.3,205 per gram on 1st October in Srinagar, with prices remaining the same over the next three days due to high demand until the 4th of October as well.
- There were very few variations in demand due to a resurgent U.S. Dollar and recovering stock markets. However, despite external factors, the largely stable demand for gold was reflected in the relatively stable prices. Upcoming wedding season was also a factor that contributed to stable gold rates.
- The price of gold was completely stable at Rs.3,088 per gram for 24 carat gold from the 6th of October to the 25th of October. This is quite unusual but due to stable demand in both domestic and international markets could have contributed to this stability in prices.
- Despite varying markets as the final phase of polling in the U.S. elections was underway, the U.S. Dollar was stable a result of positive economic policies and reflected in stable gold prices.
- Towards the end of the month, from the 26th of October, the price of gold was steady at Rs.3,099 per gram and continued till the last day of October.
- However, despite the stability in rates, there was a decline of 3.16% noted in the price of gold at the end of October as compared to the beginning of the month.
Gold Rate Trend for Srinagar in November 2016
- The beginning of November saw gold trade at a high price of Rs.3,099 per gram. However, right from the second day of November, a rise was noted in the price of gold due to uncertainty in the international markets.
- Price of gold was steady at Rs.3,150 per gram on the second and third day of November and rose even further the next day to trade at Rs.3,192 per gram.
- Gold traded at an unprecedented high of Rs.3,213 per gram on the 5th and 6th November making this the highest rate at which gold traded at for the month of November.
- The unexpected victory of Donald Trump in the U.S. Presidential elections led to markets declining.
- This month was also the time when Prime Minister Narendra Modi unexpectedly put forth the rule banning notes worth Rs.1,000 and Rs.500 as means to curb corruption. This announcement led to severe cash crunch.
- Gold reached Rs.3,211 per gram in the aftermath of the demonetisation announcement and stayed there for a couple of days before plunging again.
- From the 11th of November to the 16th of November, price of gold was steady at Rs.3,071 per gram before marginally reducing. International markets steadied, leading to decreasing demand for gold and costlier imports.
- However this rise in price could not be sustained and price of gold plunged again to Rs.2,971 and then Rs.2,929 per gram on the 25th of November which was the lowest rate at which gold traded at for the month of November.
- As the month drew to a close the price of gold fluctuated slightly before closing at Rs.2,941 per gram which was again quite low as compared to the previous months. A number of factors contributed to a decline of 5.45% in the price of gold as compared to the beginning of the month.
Gold Rate Trend for Srinagar in December 2016
- Demonetization had a negative impact on the demand for gold and was a reflection of the international trend as well, resulting in a decline the price of gold as compared to the month of November.
- Gold opened at Rs.2,893 per gram on the 1st of December and was steady until the next day.
- Price of gold declined slightly the next day to trade at Rs.2,887 per gram and continued at this rate until the 7th after which a slight rise was noted in the price of gold.
- The rate of gold was steady at Rs.2,864 per gram until the 14th of December after which the price of this precious metal declined again to trade at Rs.2,822 per gram until the 22nd of December.
- The price of gold was steady at Rs.2,800 per gram during the last week of December which was also the lowest rate at which gold traded at for the entire month of December.
- Gold traded at Rs.2,844 per gram on 31st December, recording a decline of 1.72% due to low demand.
Gold Rate Trend in Srinagar for July 2016 to September 2016 (per gram of 24 karat gold)
|1st day||Rs.3,167 per gram||Rs.3,219 per gram||Rs.3,184 per gram|
|Last day||Rs.3,219 per gram||Rs.3,205 per gram||Rs.3,217 per gram|
|Highest price||Rs.3,227 per gram from 7th to 9th July||Rs.3,248 per gram on 4th and 10th August||Rs.3,228 per gram from 7th to 12th September|
|Lowest price||Rs.3,163 per gram on 22nd July||Rs.3,205 per gram from 26th to 31st August||Rs.3,184 per gram on 1st and 2nd September|
Gold Rate Trend of Srinagar in July 2016
- Gold traded at Rs.3,167 per gram on 1st July.
- Gold prices increased as demand was high in domestic and global markets.
- On 7th July, gold prices reached their highest for this month, trading at Rs.3,227 per gram till 9th July.
- Positive economic data strengthened the markets and gold prices started to fall.
- Towards the end of the month, the dollar weakened leading to a rise in gold prices again.
- Gold traded at Rs.3,219 per gram on 31st July.
- There was an increase of 1.64% in gold rates this month.
Gold Rate Trend of Srinagar in August 2016
- As demand for gold stabilised, prices remained relatively stable at the start of the month.
- Gold traded at Rs.3,219 per gram on 1st August and remained unchanged till 9th August.
- With the festive season soon approaching, jewellers increased their buying which led to a spike in gold prices.
- Towards the latter half of the month, a chorus of the Fed rate hike grew louder in the global market resulting in demand for gold sliding down.
- Gold traded at Rs.3,205 per gram on the last day of the month. There was a drop in gold prices by 0.43% this month.
Gold Rate Trend of Srinagar in September 2016
- Gold recovered this month on the back of positive trends in the global market.
- The lowest rate for this month was Rs.3,184 per gram on 1st and 2nd September after which demand picked up.
- The interest rate hike by the U.S. Federal Reserve was put off till December since the U.S. presidential elections were drawing near.
- The market turned bullish and gold gained its safe-haven appeal.
- Gold rates climbed to Rs.3,217 per gram by the end of the month leading to an increase of 1.04%.
Gold Rate Trend in Srinagar for April 2016 to June 2016 (per gram of 24 karat gold)
|1st Day||Rs. 2,943 per gram||Rs. 3,119 per gram||Rs. 2,960|
|Last Day||Rs. 3,119 per gram||Rs. 2,960 per gram||Rs. 3,167|
|Highest Price||Rs. 3,119 per gram on April 30||Rs. 3,120 per gram on May 7||Rs. 3,182 per gram on 28th June|
|Lowest Price||Rs. 2,933 per gram on April 5||Rs. 2,960 per gram on May 31||Rs. 2,950 per gram on 2nd June|
Gold Rate Trend of Srinagar in April 2016
- There were fluctuations seen in the rate of gold on the first and third week of April mainly.
- The highest rate of gold in the month was on the last day with gold trading at Rs. 3,119 per gram.
- The lowest rate of gold was on the 5th of April wherein gold was priced at Rs. 2,933 per gram.
Gold Rate Trend of Srinagar in May 2016
- On the first day of the month, gold traded at Rs. 3,119 per gram.
- However, as the month progressed, there was a decline seen in the rate of gold due to Greece’s default crisis and expectation of interest rate hike by U.S. Fed..
- The highest rate of gold in the entire month was on the 7th of May, at Rs. 3,120.
Gold Rate Trend of Srinagar in June 2016
- Gold traded at Rs.2,960 per gram on the first day of the month.
- Price of gold declined by Rs.10 the next day and stayed steady at Rs.2,950 per gram for the rest of the week.
- Continuing from the previous day, the rate of gold was Rs.2,950 on the 5th of June and significantly increased after that.
- Rate of gold was steady at Rs.3,003 per gram on the 6th and 7th of June and declined slightly after that.
- Gold rate was steady at Rs.3,006 per gram on the 10th and 11th of June.
- Price of gold was Rs.3,006 on the first day of the week and increased by Rs.50 the next day.
- Gold was steady at Rs.3,066 per gram from the 14th to 16th of June.
- Price of gold rose to Rs.3,109 per gram on the 17th and remained the same on the 18th as well.
- There were many fluctuations in the rate of gold over the course of the week.
- Gold opened at Rs.3,109 per gram on the 19th and stayed the same even on 20th june.
- Prices increased after that until the 22nd after which gold rate declined to Rs.3,098 per gram and stayed the same until 25th June.
- Price of gold was steady at Rs.3,098 per gram until the 27th and rose to Rs.3,182 per gram on 28th and 29th which was also the highest for the month.
- Gold closed at Rs.3167 per gram on 30th June.
|1st Day||Rs. 2,585 per gram||Rs. 2,756 per gram||Rs. 3,030 per gram|
|Last Day||Rs. 2,756 per gram||Rs. 3,037 per gram||Rs. 2,948 per gram|
|Highest Price||Rs. 2,772 per gram on January 28||Rs. 3,049 per gram on February 26||Rs. 3,030 per gram on March 1|
|Lowest Price||Rs. 2,580 per gram on January 2||Rs. 2,756 per gram on February 1||Rs. 2,948 per gram on March 31|
Gold Rate Trend of Srinagar in January 2016
- Gold opened at Rs. 2,585 per gram on the 1st of the month.
- There were a few minor fluctuations noted on the first and the fourth week but was relatively stable on other days.
- A rise of 6.61% was noted in the price of gold as the month progressed.
- The highest price was seen on the 28th of January at Rs. 2,772 per gram.
Gold Rate Trend of Srinagar in February 2016
- A rise of 10.19% was seen in the price of gold as the month progressed.
- Gold traded at Rs. 3,049 per gram on the 26th of the month which was also the highest for February.
- Increase in demand and wedding season could be attributed to the rise in gold prices.
Gold Rate Trend of Srinagar in March 2016
- As the month of March progressed, there was a decrease of 2.70% in the price of gold due to an ongoing jeweller’s strike and expectation of rate hike by the U.S. Fed.
- Gold rate touched its lowest on 31th March at Rs. 2,948 per gram.
- The highest price at which gold traded at during the month of March was on the 1st at Rs. 3,030 per gram.
Details of Gold Price in Srinagar (22 Karat & 24 Karat) - Till September 2015
Gold rate in Srinagar for the year 2015 (1st April till 30th September) for 22 karat and 24 karat varieties are discussed below:
22 karat gold (price per gram): Gold rate on 1st April was Rs.2,435. Prices stayed at the same levels for the most part of April before peaking on 19th May at Rs.2,566. Rates started depreciating from then on and slid to Rs.2,501 by 31st May. June saw a general downward trend of rates with a localized peak of Rs.2,506 on 19th of the month. Prices fell steeply in July and touched Rs.2,289 on 31st July. August saw a recovery in rates which touched a high of Rs.2,550 on 25th of the month. Prices in September were volatile though they stayed in a stable limit and ended the month at Rs.2,432.
24 karat gold (price per gram): Gold rate on 1st April was Rs.2,649, which gradually increased over the month and for the first part of May to touch Rs.2,792 on 19th May. Rates then fell to Rs.2,721 by 31st May, before declining further to Rs.2,697 by 10th June. There was a slight appreciation in the next few days, however July saw the most sustained fall in gold rates in the last 5 years. Prices bottomed out at Rs.2,492 on 25th July and fell further in the first few days of August before gaining some value around mid-August. September gold rates started at Rs.2,687 and ended at Rs.2,648, a slight decline overall.
Gold buying patterns in Srinagar
Gold is popularly sold as jewelleries in Srinagar, with coins and bullions also being sold in the city.
Physical gold: Gold ornaments and jewelleries are available throughout the city and residents prefer shopping in the stores located there. Coins and bullions are available from gold dealers and traders based in the city, with bullions being the pure block of metal sold at close to market rates and in larger quantities. Coins are a little expensive and are mainly purchased for gifting or religious purposes.
Traded gold: Residents of Srinagar can purchase gold from spot and futures contracts which gives them the option to purchase gold at cheaper rates. The physical gold is delivered on a date as per the terms of the contract.
Also Check Gold Price in NearBy Cities of Srinagar
|Gold Rate In Chandigarh||Gold Rate In Jammu||Gold Rate In Ludhiana|
|Gold Rate In Shimla||Gold Rate In Delhi|
- Also Check:Gold Rate in Jammu and Kashmir
|Also Know: Silver Rate in Srinagar|
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