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Vadodara is the 3rd largest city in Gujarat. The city has over 2.2 million people and it is also a site of Lakshmi Vilas Palace where the Maharaja of Baroda and the Royal family resides. The city also has the largest University in Gujarat. It has been a cultural and educational centre and it had the first modern factory established in 1907. The large industrial unit’s establishment has paved way for the smaller enterprises.
Vadodara is also known as the cultural capital of Gujarat. There is enough cash flow in the city for people to invest in gold. The gold prices keep changing based on the international gold rates.
Gold Rate in Vadodara
The gold rate in Vadodara varies according to its purity. People get to buy 24 karat, 22 karat, 18 karat and 14 karat gold. 24 karat gold being the most expensive and 14 karat is the cheapest. Gold rate changes according to the international gold market. The prices of gold had fallen down significantly in 2015 and it picked up in January, 2016.
24 karat gold:
This is the purest form of gold. It includes 99.95% gold mass. This is a very soft metal and it cannot be used to make jewellery or other ornaments. The gold rate for 24 karat gold in Vadodara is Rs.29,650 per 10 grams as on 10th March, 2016.
22 karat gold:
22 karat gold it includes 91.6% gold mass and it is the highest quality gold. 22 karat gold is used to make jewellery and ornaments. 22 karat gold has a shiny yellow coat. The brightness of the 22 karat gold depends on the metal it is alloyed with. 22 karat gold is usually alloyed with silver or copper. When gold is mixed with copper, it gives a reddish tint. Zinc is also added to copper so that it neutralises the rose color and makes it more yellow. The best quality gold is when the 22 karat gold is alloyed with silver. This is the most common form of retail gold jewellery. It is worn off easy so special care has to be taken. The gold rate for 22 karat gold in Vadodara is Rs.27,720 per 10 grams as on 10th March, 2016.
18 karat gold:
This includes 75% of the gold mass and is the popular karat for jewellery. It provides enough strength to hold gemstones, diamonds and emeralds in place. Pink and rose gold are 18 karat.
14 karat gold:
It includes 58.3% gold mass and it is the cheapest type of gold jewellery. If alloyed with copper you get a dull bronze color. When alloyed with silver or nickel it will look white and it is known as white gold.
Gold Rate Trend in Vadodara for January 2017 to March 2017 (per gram of 24 karat gold)
|1st day||Rs.2,893 per gram||Rs.3,035 per gram||Rs.3,080 per gram|
|Last day||Rs.3,017 per gram||Rs.3,095 per gram||Rs.3,029 per gram|
|Highest price||Rs.3,060 per gram on the 23rd and 24th of January||Rs.3,101 per gram from the 25th of February to the 27th of February||Rs.3,062 per gram on the 8th of March|
|Lowest price||Rs.2,888 per gram from the 3rd to the 5th of January||Rs.3,034 per gram on the 4th and 5th of February||Rs.3,274 per gram from the 15th of March to the 17th of March|
Gold Rate Trend for Vadodara in January 2016
- On the first day of the new year, gold traded at Rs.2,893 per gram on the 1st of January due to relatively low demand for this metal as well as an incline in the value of the U.S.Dollar. This rate was noted in the 2nd of January as well.
- However, the rate of gold declined the next day to trade at Rs.2,888 per gram and stayed steady at this price until the 5th of January. This was also the lowest at which gold traded for the month.
- As the month progressed, there was a recovery noted in the price of gold due to an increase in the demand for this metal.
- On the 23rd and 24th of January, gold traded at its highest at Rs.3,060 per gram. This was due to a spike in the demand for this metal from investors and jewellers.
- As the month of January ended, an incline of 4.28% was noted in the rate of gold.
Gold Rate Trend for Vadodara in February 2016
- The rate of gold on the 1st of February was Rs.3,035 per gram which was higher than the rates noted during the month of January.
- However, due to a marginal increase in the demand for this metal, there was an increase of Rs.3 in the price of gold. But this demand, however could not be sustained and the rate of gold fell to a monthly low of Rs.3,034 per gram on the 4th and stayed steady at this rate on the 5th as well.
- As the month progressed, a number of variations were noted in the price of gold in Vadodara.
- Gold rate was steady at Rs.3,044 per gram from the 13th of February until the 15th of February
- This precious metal traded at its highest from the 25th to the 27th of February at Rs.3,101 per gram but falling marginally.
- On the last day of the month, this metal traded at Rs.3,095 per gram and recorded a incline of 1.97% in the price of gold.
Gold Rate Trend for Vadodara in March 2016
- There were a number of variations observed in the rate of gold during the month of March in Vadodara.
- Gold traded at Rs.3,080 per gram on the 1st of March and stayed steady at this rate the next day as well.
- However, due to a reduction in the demand for this metal, the rate of gold reduced to Rs.3,056 per gram. Gold was steady at this rate until until the 7th of March.
- Due to the U.S. Fed’s decision regarding interest rates, the rate of gold plunged to a monthly low of Rs.2,974 per gram from the 15th of January to the 17th of January.
- Due to positive market cues, the rate of gold was Rs.3,050 per gram from the 23rd of March to the 26th of March. However, this rate was not sustained and fell towards the end of the month.
- However, as the month progressed, the rate of gold declined to trade at Rs.3,029 per gram on the last day of the month, recording a decline of 1.65% in the price of gold.
Gold Rate Trend in Vadodara from October to December 2016 (rates per gram for 24 karat gold)
|1st day||Rs.3,304||Rs.3,199 per gram||Rs.2,963 per gram|
|Last day||Rs.3,199||Rs.3,012 per gram||Rs.2,893 per gram|
|Highest price||Rs.3,304 on 1st October||Rs.3,252 per gram on 3rd November||Rs.2,963 per gram on the 1st and 2nd|
|Lowest price||Rs.3,157 from 7th October to 13th October||Rs.2,981 per gram on 25th November||Rs.2,825 per gram on the 22nd and 23rd|
Gold Rate Trend in Vadodara for October 2016
- There were a number of fluctuations noted in the price of gold during the month of October. There was a slump in demand due to market fluctuations.
- On the first day of the 1st of October, gold was priced at Rs.3,304 per gram. This price however could not be sustained and reduced by almost Rs.150 to Rs.3,157 in less than a week on the 7th of October.
- On the 14th, the rate of gold increased slightly to trade at Rs.3,162 per gram and was steady at this price until till the 25th of October.
- The rate of gold rose up again on the 26th to trade at Rs.3,189 per gram as due to increase in demand both in India and overseas.
- At the end of the month, the price of gold was Rs.3,199 per gram which was an increase of Rs.10 from the previous two days.
- A decline of 3.18% was witnessed in the rate of gold in Vadodara as compared to the beginning of the month.
Gold Rate Trend in Vadodara for November 2016
- A number of events that took place in Indian as well as international markets influenced the rate of gold during the month of November.
- Gold traded at a relatively high amount during the beginning of the month and but reduced as the month progressed, with a few fluctuations throughout the month.
- On the 1st of November, this precious metal traded at Rs.3,199 per gram and increased to trade at Rs.3,252 per gram on 6th and by 10th, the price had reduced to Rs.3,242 per gram.
- On the 8th of November, cash notes worth Rs.500 and Rs.1,000 were banned by the Indian Government in order to curb corruption and this move came to be known as demonetization.
- By 19th, prices were down to Rs.3,175 per gram and further went down to Rs.2,981 per gram on 25th.
- The last four days of November saw price pick up slightly to end the month at Rs.3,021 per gram.
- Overall, November gold trends saw a decline of 5.48% in the rate of gold as the month progressed.
Gold Rate Trend in Vadodara for December 2016
- There were a number of fluctuations in the rate of gold in the month of December
- On the 1st of December, gold traded at Rs.2,963 per gram and reduced to Rs.2,926 per gram on the 7th.
- Prices again went down on the 9th to trade Rs.2,918 per gram and a little bit more to Rs.2,846 per gram on the 17th.
- The last week of December however saw prices pick up slightly to end the month at Rs.2,893 per gram.
- A decline of 2.38% was observed in the rate of gold in the month of December in Vadodara.
Gold Rate Trend in Vadodara for July 2016 to September 2016 (per gram of 24 karat gold)
|1st day||Rs.3,224 per gram||Rs.3,247 per gram||Rs.3,245 per gram|
|Last day||Rs.3,244 per gram||Rs.3,245 per gram||Rs.3,304 per gram|
|Highest price||Rs.3,287 per gram on 6th and 7th July||Rs.3,290 per gram on 23rd-26th August||Rs.3,304 per gram from 27th-30th September|
|Lowest price||Rs.3,207 per gram on 15th July||Rs.3,236 per gram on from 8th-14th August||Rs.3,245 per gram on 1st and 2nd September|
|Trend||Increase in price||Decrease in price||Increase in price|
Gold Rate Trend in Vadodara for July 2016
- Gold traded at Rs.3,224 per gram on 1st July on the back of strong domestic demand.
- Prices rose as domestic and overseas trends favoured gold, trading at Rs.3,287 per gram on 7th July.
- Strengthening markets led to demand falling during the middle of the month.
- Gold was priced at Rs.3,207 per gram on 15th July but prices rose marginally as the week ended.
- Gold traded at Rs.3,244 per gram on 31st July after domestic demand pushed prices higher.
Gold Rate Trend in Vadodara for August 2016
- Gold traded at Rs.3,247 per gram on 1st August with a slight rise in price due to increased demand.
- Prices fell as markets stabilised and domestic demand reduced, with gold trading at Rs.3,236 per gram on 8th August.
- Market fluctuations due to the dollar falling against global currencies led to prices rising marginally.
- Prices reached Rs.3,284 per gram on 20th August on heightened demand from the domestic market.
- A market upsurge led to demand for gold falling to Rs.3,245 per gram on 31st August.
Gold Rate Trend in Vadodara for September 2016
- The price of gold was Rs.3,245 per gram on 1st September as demand was stable.
- Fluctuations in the gold price as a result of increased demand led to minor price rises.
- Gold traded at Rs.3,291 per gram on 8th September as domestic demand rose.
- Prices fell slightly due to overseas trends but recovered to close at Rs.3,304 per gram on 30th September.
Gold Rate Trend in Vadodara for April 2016 to June 2016 (per gram of 24 karat gold)
|1st day||Rs. 2,905 per gram||Rs. 3,070 per gram||Rs.2,991 per gram on June 1st|
|Last day||Rs. 3,070 per gram||Rs. 2,895 per gram||Rs.3,209 per gram on 30th of June|
|Highest price||Rs.3,070 per gram on 30th of April.||Rs. 3,080 per gram on the 7th and 8th of May.||Rs.3,212 per gram on 27th of June|
|Lowest price||Rs. 2,880 per gram on the 4th of April.||Rs. 2,960 per gram from the 28th to the 31st of May.||Rs.2,991 per gram on June 1st|
Gold Rate Trend of Vadodara in April 2016
- Gold traded at Rs. 2,905 per gram on the 1st of April.
- Gold rate fluctuated a lot in April but still managed to rise to Rs. 3,070 per gram by the end of the month.
Gold Rate Trend of Vadodara in May 2016
- Expectations of a rate hike by the U.S. Federal Reserve pushed down gold prices as gold stood at Rs. 3,052 on May 4th.
- Rising dollar further led to the decline of gold in May as gold traded at Rs. 2,895 on the 31st of May.
Gold Rate Trend of Vadodara in June 2016
- Gold opened the month at Rs.2,991 per gram on the 1st of June.
- Gold scored the highest for the month between 25th and 27th of June at Rs.3,212 per gram.
- Gold closed the month at Rs.3,209 per gram on the 30th of June.
|1st day||Rs. 2,540 per gram||Rs. 2,708 per gram||Rs. 2,975 per gram|
|Last day||Rs. 2,710 per gram||Rs. 2,960 per gram||Rs. 2.900 per gram|
|Highest price||Rs. 2,715 per gram on January 27th and 28th.||Rs. 2,975 per gram on February 26th and 27th.||Rs. 2,975 per gram from March 1st to 6th.|
|Lowest price||Rs. 2,540 per gram on January 1st.||Rs. 2,708 per gram on February 1st||Rs. 2,870 per gram from March 28th.|
Gold Rate Trend of Vadodara in January 2016
- Gold traded at Rs. 2,540 per gram on the 1st of January.
- Gold witnessed a steady rise in January and hit its highest for the month at Rs. 2,715 per gram on the 27th and 28th of January.
- Gold closed the month at Rs. 2,710 per gram.
Gold Rate Trend of Vadodara in February 2016
- Gold stood at Rs. 2,708 per gram on the 1st of February.
- Gold prices increased steadily in the first week of February and hit Rs. 2,815 per gram on the 6th of February.
- Gold hit its highest for the month on 27th and 28th February at Rs.2,975 per gram.
Gold Rate Trend of Vadodara in March 2016
- Gold price increased by Rs.15 from February 29th and held steady at Rs.2,975 per gram.
- Low demand led to a decline as gold was at its lowest for the month at Rs. 2,870 per gram on 28th of March.
Gold investment avenues in Vadodara
Gold is found in every household in India. People buy gold either as an investment or as a jewellery. Gold sales are higher during wedding season and festivals. Since gold is treated as a safe haven asset, investors buy gold so that they can protect themselves from the market fluctuations. Gold can be brought in Vadodara in the following ways:
- Market trade:
Gold can also be purchased from the comforts of your home now. You can have access to E-gold, futures and ETFs. You must however know that trading in gold is subject to risk. E-gold trade is done through National Spot Exchange. ETFs is traded on Bombay Stock Exchange.
- Over the counter purchases:
People prefer to look at the jewellery and trying it on before actually buying it. There are a various jewellers in the city from where people of Vadodara can buy. As Vadodara house the palace, the city is a hub for jewellers offering gold in various patterns and designs. Gold can also be brought in the form of gold coins and bars from the jewellers as well as the banks. You must know that buying gold from the bank is costlier as you get purity certificate.
- Also Check: Gold Rate in Gujarat
Also Check Gold Price in NearBy Cities of Vadodara
|Gold Rate In Ahmedabad||Gold Rate In Surat||Gold Rate In Rajkot|
|Gold Rate In Jamnagar||Gold Rate In Indore||Gold Rate In Mumbai|
Read more on Gold
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- Where To Buy Gold In India