Gold Rate in Vijayawada Today

  • Today's Gold Rate in Vijayawada ( 18 Jan 2020 )
    ₹ 3,828
    Today's Gold Rate (22K) per gram
    Compare Gold Rate In Vijayawada (Today & Yesterday)
    Today
    (18 Jan 2020)
    Yesterday
    (17 Jan 2020)
    Rate Change
    Standard Gold (22 K) ( 1 gram ) ₹ 3,828 ₹ 3,809 ₹ 19 ↑
    Standard Gold (22 K) ( 8 grams ) ₹ 30,624 ₹ 30,472 ₹ 152 ↑
    Pure Gold (24 K) ( 1 gram ) ₹ 4,019 ₹ 3,999 ₹ 20 ↑
    Pure Gold (24 K) ( 8 grams ) ₹ 32,152 ₹ 31,992 ₹ 160 ↑
    Daily Gold Rates
    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    18 Jan 2020 ₹ 3,828 ₹ 30,624 ₹ 4,019 ₹ 32,152
    17 Jan 2020 ₹ 3,809 ₹ 30,472 ₹ 3,999 ₹ 31,992
    16 Jan 2020 ₹ 3,802 ₹ 30,416 ₹ 3,992 ₹ 31,936
    15 Jan 2020 ₹ 3,801 ₹ 30,408 ₹ 3,991 ₹ 31,928
    14 Jan 2020 ₹ 3,764 ₹ 30,112 ₹ 3,952 ₹ 31,616
    13 Jan 2020 ₹ 3,801 ₹ 30,408 ₹ 3,991 ₹ 31,928
    12 Jan 2020 ₹ 3,820 ₹ 30,560 ₹ 4,011 ₹ 32,088
    11 Jan 2020 ₹ 3,820 ₹ 30,560 ₹ 4,011 ₹ 32,088
    10 Jan 2020 ₹ 3,793 ₹ 30,344 ₹ 3,983 ₹ 31,864
    09 Jan 2020 ₹ 3,830 ₹ 30,640 ₹ 4,022 ₹ 32,176

    Weekly & Monthly Graph of Gold Rate in Vijayawada

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    *Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.

    Gold Price in Vijayawada

    Gold in Vijayawada is much sought-after due to several factors including its newfound status as a commercial hub of Andhra Pradesh. Vijayawada has gained increased significance post bifurcation of the erstwhile united Andhra Pradesh state. Residents of Vijayawada buy the yellow precious metal in the form of intricate jewelry including temple jewelry. There is significant demand for gold coins and bars as well. Gold in Vijayawada is mostly considered a traditional investment. The precious metal is widely bought during weddings and other festivities as well. Gold rates in Vijayawada are subject to various developments in India and across the world. However, gold rates in Vijayawada are also dependent on the local taxes and transportation charges in addition to various other additional costs charged by jewelry stores in the city. With increasing population of the middle-class population in Vijayawada, demand for gold will also go up.

    Trend of Gold Rate in Vijayawada for January 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    January 1 Rate Rs.3,922 per gram
    January 12 Rate Rs.4,011 per gram
    Highest Rate in January Rs.4,125 per gram on 8 January
    Lowest Rate in January Rs.3,922 per gram on 1 January
    Overall Performance Decline

    January 2019- Week 1 (01 - 05):

    • The price of gold in Vijayawada showed a steady incline throughout the first week of January due to global factors. Opening at Rs.3,922 per gram on 1 January, the precious metal’s price increased to Rs.3,983 per gram by 3 January due to a weak dollar value.
    • On 4 January, the yellow metal’s prices increased further to Rs.4,024 per gram due to President Trump’s remarks on the drone strike on Iran which resulted in the death of the commander of the Qud’s force.
    • Gold prices closed the first week of the month, year and decade nearing 7-year highs at Rs.4,024 per gram due to the tensions hovering around Iran and the United States of America.

    January 2019- Week 2(06 - 12):

    • In Vijayawada, gold prices opened the second week of January at Rs.4,091 per gram and showed a fluctuating trend throughout the week. On 7 January, the price of the metal dipped to Rs.4,035 per gram. The fluctuating price of the metal was majorly due to the tensions between the United States of America and Iran.
    • Despite global trends, the price of gold in Vijayawada hit its highest till date at Rs.4,125 per gram. This was due to a steady local demand of the metal. Gold prices in the second half of the week took a hit soon after.
    • On 9 January, gold prices dipped to Rs.3,983 per gram when United States President Donald Trump took a call to ease the tensions between the two countries. With this, the risk appetite of the investors increased, and gold prices dipped. At the end of the week, the price of the metal closed at Rs.4,011 per gram.

    Trend of Gold Rate in Vijayawada for December 2019 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    December 1 Rate Rs.3,828 per gram
    December 29 Rate Rs.3,819 per gram
    Highest Rate in December Rs.3,830 per gram on 5 December
    Lowest Rate in December Rs.3,771 per gram on 11 and 13 December
    Overall Performance Decline

    December 2019- Week 1 (1 - 8):

    • The price of gold in Vijayawada saw a lot of fluctuations over the final week of November. Having opened the week at Rs.3,806 per gram, the prices slid to Rs.3,794 per gram the next day.
    • With traders being on a wait and watch mode with regard to the trade deal between Washington and Beijing, the rates of the yellow metal saw some fluctuations in the next few days.
    • However, with no clear signs of a trade deal happening between booth the countries coming to the fore, gold prices declined to its lowest for the month on November 28 when a gram cost Rs.3,792 before closing the week at Rs.3,828 per gram, trending downwards.

    December 2019- Week 2 (9 - 15):

    • Gold prices in Vijayawada opened the second week of December at Rs. 3,780 per gram. Compared to the previous week’s closing price, the rates saw a decline of Rs.13 per gram.
    • In Vijayawada, the price of the yellow metal slipped to the lowest recorded price for the month till date on 11 December as investors decided to await clarity on whether a next round of US tariffs on Chinese imports would take effect. Every gram of gold cost Rs.3,771 in the city on December 11.
    • The rates of the yellow fluctuated over the next three days of the week before closing at Rs.3,803 per gram. Gold’s overall performance over the second week of December in Coimbatore was trending downwards.

    December 2019- Week 3 (16 – 22):

    • Gold prices in Vijayawada opened the second week of December at Rs. 3,796 per gram. Due to positive trends in the global market, there was a marginal rise in the metal’s prices compared to last week’s closing.
    • The price of the yellow metal increased to Rs.3,814 per gram on 18 December due to investors shifting to the bullion amongst mixed signals in the trade war between the United States of America and China.
    • Gold prices fluctuated through the rest of the week but not before hitting its weekly high on 21 December following the decision of the United States House of Representatives voted for the impeachment of President Trump on charges of obstruction and abuse of power. The metal closed the week at the same price of Rs.3,819 per gram.

    December 2019- Week 4 (23 - 29):

    • Gold prices in Vijayawada opened the second week of December at Rs. 3,796 per gram. Due to positive trends in the global market, there was a marginal rise in the metal’s prices compared to last week’s closing.
    • The price of the yellow metal increased to Rs.3,814 per gram on 18 December due to investors shifting to the bullion amongst mixed signals in the trade war between the United States of America and China.
    • Gold prices fluctuated through the rest of the week but not before hitting its weekly high on 21 December following the decision of the United States House of Representatives voted for the impeachment of President Trump on charges of obstruction and abuse of power. The metal closed the week at the same price of Rs.3,819 per gram.

    Trend of Gold Rate in Vijayawada for November 2019 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    November 1 Rate Rs.3,892 per gram
    November 30 Rate Rs.3,828 per gram
    Highest Rate in November Rs.3,892 per gram on 1 November
    Lowest Rate in November Rs.3,792 per gram on 28 November
    Overall Performance Decline

    November 2019- Week 1 (01-03):

    • Gold prices in Vijayawada saw a marginally downward trend in the first week of November opening the month at Rs.3,892 per gram. However, gold prices had increased considerably compared to the closing in the last session at Rs.3,857 per gram.
    • This was majorly due to the interest rate cut by the United States Federal Reserve by 1% along with continued uncertainties in the trade war.
    • However, the price of the precious metal decreased marginally to Rs.3,890 per gram on 2 November and was steady at the same price of 3 November as well. This was majorly due to strong factory data in China as well as in the United States of America, dowsing risk appetite.

    November 2019- Week 2 (04-08):

    • Due to growing risk appetite among investors, increasing value of the dollar and positive trade talk cues between the United States of America and China, the price of gold decreased in the second week of November.
    • In Vijayawada, the price of gold opened the second week of the month at Rs.3,886 per gram and decreased to Rs.3,841 per gram by 6 November. This was majorly due to the positive cues from the trade talks increasing the risk appetite of investors.
    • As both China and the United States of America agreed on tariff rollbacks, the price of gold nearly touched the monthly low at Rs.3,817 per gram on 8 November and closed at the same price.

    November 2019- Week 3 (09-17):

    • Opening the week at Rs.3,812 per gram, gold prices in Vijayawada dropped in the next few days of the week due to positive developments in the trade talks between the United States and China.
    • The prices of the yellow metal touched a 3-month low in 12 November when after an upbeat risk appetite from investors was seen in the hope of positive developments regarding the trade talks.
    • The price of gold saw a fluctuating trend in the third week of the month as there was no clear sign regarding the trade deal. Investors shifted to the bullion as a safe-haven asset to recover the prices and closed the third week of November at Rs.3,827 per gram.

    November 2019- Week 4 (18 - 24):

    • In Vijayawada, the price of gold showed a decline in prices in the fourth week of the month due to investors awaiting developments on the trade deal between China and the United States of America. The price of the metal opened the week at Rs.3,818 per gram.
    • However, between 19 November and 21 November, the precious metal’s prices increased due to the impeachment inquiry on President Trump and him threatening a tariff increase on Chinese imports if a mutually agreed decision was not reached.
    • Amidst other geopolitical tensions when the United States Senate passed legislation supporting protestors in Hong Kong, China invited its counterpart to have a face-to-face regarding the trade deal. Due to this, the price of the metal decreased as trade optimism rose, closing the week at Rs.3,821 per gram.

    November 2019- Week 5 (25 - 30):

    • The price of gold in Vijayawada saw a lot of fluctuations over the final week of November. Having opened the week at Rs.3,806 per gram, the prices slid to Rs.3,794 per gram the next day.
    • With traders being on a wait and watch mode with regard to the trade deal between Washington and Beijing, the rates of the yellow metal saw some fluctuations in the next few days.
    • However, with no clear signs of a trade deal happening between booth the countries coming to the fore, gold prices declined to its lowest for the month on November 28 when a gram cost Rs.3,792 before closing the week at Rs.3,828 per gram, trending downwards.

    Trend of Gold Rate in Vijayawada for October 2019 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    Rate on 1st October Rs.3,722 per gram
    Rate on 31st October Rs.3,857 per gram
    Highest Rate in October Rs.3,869 per gram on 28 October
    Lowest Rate in October Rs.3,722 per gram on 1 October
    Overall Performance Incline

    October 2019- Week 1 (1-6):

    • Despite opening weak at Rs.3,722 per gram, gold rate in Vijayawada climbed steadily on robust overseas demand and local festive demand.
    • Gold price in Vijayawada rose to Rs.3,786 per gram on 2 October as equities fell on news of fresh U.S. tariffs on EU goods, which increased demand for safe-haven assets as a hedge.
    • Local interest in bullion rose as the rupee fell, making imports cheaper and bolstering demand as the gold rate traded at Rs.3,830 per gram when the week ended on 6 October.

    October 2019- Week 2 (7-13):

    • Even though gold opened on a weak note in October, gold price in Vijayawada on 1 October was Rs.3,722 per gram following an increased demand overseas as well as local festive demand.
    • The gold rate in Vijayawada increased to Rs.3,841 per gram on 7 October ahead of the trade talks between the two economic superpowers shifting focus to bullion as a haven.
    • After hitting the weekly high on 9 and 10 October at Rs.3,848 per gram, gold price in Vijayawada slipped marginally closing the month at Rs.3,826 per gram as tensions eased ahead of ongoing the trade talks.

    October 2019- Week 3 (14-20):

    • In Vijayawada, the price of gold opened the week at Rs.3,822 per gram and increased too hit its weekly high at Rs.3,856 per gram on 15 October due to the uncertainty of Brexit as well as the trade talks between the United States of America and China.
    • Gold prices kept fluctuating throughout the week due to renewed optimism in the trade talks as well as in the deal between Great Britain and the European Union for Brexit. There was a marginal rise and fall in the metal’s prices due to global factors.
    • However, gold prices plummeted on the last day of the week, 20 October due to Rs.3,829 per gram due to markets showing positive trends as investors find positive signs in the trade deal between the United States of America and China.

    October 2019- Week 4 (21-27):

    • In Vijayawada, the price of the precious metal was Rs.3,845 per gram on 21 October. However, due to renewed optimism on the trade talks and speculation on Brexit, gold prices decreased on 22 October to Rs.3,829 per gram. However, the price of the metal gradually increased to Rs.3,846 per gram on 23 October.
    • Gold prices recovered marginally on 24 October at Rs.3,847 per gram as investors awaited clarity on the issue of Brexit and held steady ahead of the ECB meeting on Brexit between the European Union and Great Britain.
    • However, gold prices shot up on 25 October to Rs.3,871 per gram after weak economic data from the United States of America hinted at another rate cut by the Federal Reserve. Gold prices were priced to hit its 5-week high, closing the week at Rs.3,872 per gram.

    October 2019- Week 5 (28-31):

    • Gold prices in Vijayawada opened the last week of the month at Rs.3,869 per gram and dipped to Rs.3,836 per gram on 29 October due to fresh optimism in the trade talks. Along with this the market also awaited the decision to be made by the United States Federal Reserve.
    • However, on 30 October, the price of gold in the city steadied at Rs.3,847 per gram as the markets waited for the decision on the rate cuts to be made due to weak economic data in the United States of America.
    • On the last day of the week, after a 1% rate cut announced by the Federal Reserve, gold prices closed the month at Rs.3,857 per gram recording a monthly incline in prices.

    Trend of Gold Rate in Vijayawada for September 2019 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    September 1 Rate Rs.3,481 per gram
    September 30 Rate Rs.3,876 per gram
    Highest Rate in September Rs.3,913 per gram on 29 September
    Lowest Rate in September Rs.3,481 per gram on 1 September
    Overall Performance Incline
    Percentage Change 11.34%

    September 2019- Week 1 (1-8):

    • After opening higher at Rs.3,876 per gram, gold price in Vijayawada rose steadily on positive investor sentiment and a weak dollar, though local retail demand was sluggish.
    • The gold rate in Vijayawada traded at Rs.3,953 per gram on 4 September as weak U.S. manufacturing data dented equity appeal and increased interest in safe-haven assets like bullion.
    • Prices fell on news of a possible resolution to the Sino-U.S. trade dispute, with the dollar also strengthening as gold dropped to Rs.3,855 per gram on 8 September.

    September 2019- Week 2 (9-15):

    • The week began with gold price in Vijayawada trading at Rs.3,842 per gram but flat retail demand and rising prices dented offtake as the metal dropped to Rs.3,816 per gram on 11 September.
    • Despite possible interest rate cuts, gold prices failed to rise as investors preferred riskier assets like equities resulting in the metal falling to Rs.3,787 per gram on 13 September.
    • A resolution to the U.S.-China trade dispute also enticed investors towards equities as the dollar was boosted, with gold rate in Vijayawada trading lower at Rs.3,763 per gram when the week ended.

    September 2019- Week 3 (16-22):

    • The price of gold in Vijayawada opened the week at Rs.3,807 per gram but flat retail demand and rising prices dented offtake as gold rate Vijayawada dropped to Rs.3,816 per gram on 17 September.
    • Despite possible interest rate cuts, gold prices failed to rise as investors preferred riskier assets like equities resulting in the metal falling to Rs.3,758 per gram on 19 September.
    • A resolution to the U.S.-China trade dispute also enticed investors towards equities as the dollar was boosted, with the yellow metal trading lower at Rs.3,794 per gram when the week ended.

    September 2019- Week 4 (23-30):

    • A rise in industrial demand saw gold price in Vijayawada open at Rs.3,904 per gram but weak retail interest resulted in prices dropping to Rs.3,876 per gram on 28 September.
    • Despite a weak rupee, there was a surge in demand for bullion as rising economic uncertainty increased interest in safe-haven assets as the yellow metal rose to Rs.3,913 per gram on 29 September.
    • Prices dropped once again as equities stabilised on the possibility of U.S.-China trade talks, as the precious metal fell to Rs.3,876 per gram on 30 September.

    Trend of Gold Rate in Vijayawada for August 2019 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    August 1 Rate Rs.3,481 per gram
    August 31 Rate Rs.3,876 per gram
    Highest Rate in August Rs.3,913 per gram on 29 August
    Lowest Rate in August Rs.3,481 per gram on 1 August
    Overall Performance Incline
    Percentage Change 11.34%

    August 2019- Week 1 (1-11):

    • Despite the rupee falling against the dollar, gold rates in Vijayawada were on the rise after opening at Rs.3,481 per gram.
    • The dollar index fell on news of additional U.S. tariffs on Chinese goods, boosting bullion demand as prices climbed to Rs.3,633 per gram on 5 August.
    • Gold climbed steadily for the rest of the week on investor demand and weak economic growth, ending the week at Rs.3,761 per gram on 11 August.

    August 2019- Week 2 (12-18):

    • Despite the rupee falling against the dollar, gold rates in Vijayawada were on the rise after opening at Rs.3,481 per gram.
    • The dollar index fell on news of additional U.S. tariffs on Chinese goods, boosting bullion demand as prices climbed to Rs.3,633 per gram on 5 August.
    • Gold climbed steadily for the rest of the week on investor demand and weak economic growth, ending the week at Rs.3,761 per gram on 11 August.

    August 2019- Week 3 (19-25):

    • Weak local demand and a rising dollar rate resulted in gold prices in Vijayawada opening lower at Rs.3,766 per gram on 19 August, though the metal recovered to trade at Rs.3,781 per gram on 21 August.
    • Trade uncertainties due to ramped-up Sino-U.S. tensions bolstered bullion interest globally, as the yellow metal traded at Rs.3,802 per gram on 23 August.
    • A positive indicator for bullion after the Federal Reserve meeting saw a steep rise in rates as the precious metal ended the week at Rs.3,864 per gram on 25 August.

    August 2019- Week 4 (26-31):

    • A rise in industrial demand saw gold prices in Vijayawada open at Rs.3,904 per gram but weak retail interest resulted in prices dropping to Rs.3,876 per gram on 28 August.
    • Despite a weak rupee, there was a surge in demand for bullion as rising economic uncertainty increased interest in safe-haven assets as the yellow metal rose to Rs.3,913 per gram on 29 August.
    • Prices dropped once again as equities stabilised on the possibility of U.S.-China trade talks, as the precious metal fell to Rs.3,876 per gram on 31 August.

    Find Today's Gold Rate in Top Metro Cities

    Gold rate in Vijayawada at the start of September 2015 was Rs.2,717, as on 1st September. The rate went into an immediate decline and bottomed out for the week on 4th at Rs.2,680. The downward slide of prices continued till 8th of the month. Gold went through an appreciation session on 9th when rates shot up to Rs.2,720. However, there was a steep decline in rate on the very next day to Rs.2,642.

    Gold rate continued to be low till 17th of the month, with gold in Vijayawada available at Rs.2,632. There was increase in rates on 18th when prices went up to Rs.2,674. Prices couldn’t hold on to the gained value and started declining once again from 22nd of the month.

    Gold was priced at Rs.2,655 on 23rd before experiencing two days of appreciation which brought up prices to Rs.2,727. This was also the highest gold rate in the city of Vijayawada for the month of September. Prices started dropping from then on and touched Rs.2,664 on 30th September.

    Gold saw a volatile month in September. This volatility is expected to continue in the coming days. However, rates are likely to go north when the festive season kicks in in the latter half of October.

    Jewelry: Many consumers consider gold as a good hedge against inflation. There is a view that returns on gold investment are usually in line with the rate of inflation. Buying gold encompasses heavy making charges. Many jewelers typically deduct making charges from the price of the jewelry at the time of buying from consumers putting the latter at a disadvantage. However, it can also be used as a pledge against a loan.

    Coins: Demand for gold as jewelry and coins was estimated to be 811 tonnes last year, as per the World Gold Council. Most of the gold is held as jewelry in Vijayawada. Gold coins are available across leading banks in addition to the online facility. Gold coins are available in various weights (measured in grams) to cater to the pockets of customers. What’s more, they can be stored with less hassles.

    ETFs: A financial product used by sophisticated investors to get exposure to the yellow metal, ETFs are open-ended mutual funds with one unit equivalent to 1 gram of gold (99.5% pure gold) traded on stock exchanges. There is no risk of theft and zilch storage costs. Major advantages are no sales tax, wealth tax or VAT are applicable on gold ETFs.

    Gold is seen as a safe investment by denizens in Vijayawada since a customer can expect appreciation of capital by holding gold, provided the rate of the yellow metal is on the rise.

    22 karat: One gram of gold is priced at Rs. 2,539 in Vijayawada. Gold rates in Vijayawada have been witnessing minor fluctuations in that the yellow metal was pegged at Rs. 2,552 in the month of May. Towards the end of April, gold rate stood at Rs. 2,568.00 while it was Rs. 2,481.00, Rs. 2,532.00 and Rs. 2,665 in the months of March, February and January respectively.

    24 karat: One gram of gold is currently priced at Rs. 2,715. The yellow metal in Vijayawada has been witnessing minor fluctuations in that one gram of gold was pegged at Rs. 2,729 in May. Towards the end of April, gold rate stood at Rs. 2,747 while it was Rs. 2,654, Rs. 2,708 and Rs. 2,850 in the months of March, February and January this year.

    Where to Buy Gold in Vijayawada?

    Vijayawada boasts of several big jewelry showrooms such as Anjaneya Jewellery, Khazana Jewellery, Joyalukkas, Anmol Jewellery and Kothari Jewellery among many others.

    Also Check Gold Price in NearBy Cities of Vijayawada

    Read more on Gold

    News About Gold rate in Vijayawada

    • Prices of gold increase for the third day in a row to hit a two-month high

      Prices of gold in India continued to rise on 26 December 2019, increasing for the third consecutive day. Gold futures prices on MCX increased by 0.32% and hit Rs.38,763 for 10 grams.

      The 0.32% increase in gold prices saw it touch a two-month high. In the international market, the prices of gold increased by 0.3% and hit $1,503 for an ounce. According to a note made by Kotak Securities, gold prices increased beyond the $1,480 for an ounce after weeks of rangebound movement. This has resulted in the prices of gold going past the $1,500 for an ounce level. The main reason for the increase in gold prices was the disappointing economic data of the US. According to several analysts, the prices have gold have increased due to the geopolitical tensions. Earlier in December, North Korea warned the US and gave them time till the end of the year to start talks over the country’s nuclear arsenal and reduce the tensions between the adversaries. However, there are signs that the trade deal between China and the US would be signed soon. So far this year, the prices of gold have increased by nearly 17% and is on track for its best showing since 2010. The prices of gold have increased due to the trade tensions between China and the US. Gold prices hit a six-year high and touched $1,557.11 for an ounce in September.

      27 December 2019

    • Gold metal prices rise on possible delay in US-China trade deal

      Prices of gold rose after reports that there can be a possible delay in the US-China trade deal. U.S President Donald Trump recently said that there can be a possible delay in the trade deal being signed until the presidential elections 2020.

      Gold February features were up 0.03% at Rs.38,340 per 10 grams. It closed 1% higher at 38,327 on the previous day.

      Prices of both gold and silver rose 1% after Donald Trump hinted a levying a tariff on France and European Union (EU).

      5 December 2019

    • Gold prices increase as there are no developments in the trade deal

      Prices of gold increased slightly on 6 November 2019 as there were no developments in the trade deal between China and the US. In the previous session, prices of gold decreased by over 1%.

      Prices of spot gold increased by 0.1% and hit $1,485.73 for an ounce. On 5 November 2019, the prices of spot gold decreased by around 1.7%. The main reason for the drop in prices was the higher bond yields and the strong dollar. US gold futures increased by 0.2% and hit $1,487.40. According to the market strategist of AxiTrader, Stephen Innes, some of the reasons that helped gold are the equities and bond yields being down. As there was no concrete progress in the trade deal between China and the US, shares in the Asian market also decreased slightly. While the value of the dollar eased against other major countries, the yields on the benchmark were down. The risk sentiment of the financial markets was boosted as there was optimism that Phase 1 of the trade deal between Beijing and Washington could be completed this month. Prices of silver remained the same and hit $17.58 for an ounce.

      7 November 2019

    • Dip in Mumbai gold and silver prices

      Gold was priced at Rs.38,334 per 10 gram in the Mumbai bullion market, which was a dip of Rs.310 on an overseas trend that was weak and the rupee that was strong. The price of 10 grams of 22-carat gold in Mumbai was Rs.35,114 + GST of 3% while 10 grams of 24-carat gold was Rs.38,334 + GST. From the closing price on 15 October, silver slipped Rs.950 to Rs.44,840 per kg. The gold-silver ratio is currently 85.49:1 (the amount of silver that is required to buy one ounce of gold). Gold rate had an intraday high in the futures market of Rs.38,215 with an MCX intraday low of Rs.37,982. In the December series, gold had a high of Rs.40,771 and a low of Rs.32,289. December gold futures for delivery was low on the MCX at Rs.38,030 per 10 grams during the evening trade with a business turnover amounting to Rs.20,196 lots. The December contract that was traded so far was Rs.3452.83 crores. The gold contacts for the February delivery were also lower at Rs.38,315 for 10 gram during a business turnover of 3,069 lots which was lower by 0.06% or Rs.24. The value of February contract that was traded was Rs.102.84 crore. November’s Gold Mini contract was at Rs.38,078 during a business turnover that amounted to 9,968 lots.

      18 October 2019

    • Gold prices expected to suffer weekly loss as US dollar and data weigh

      Gold prices recorded a loss on Friday as it remained poised for its 3rd weekly fall in September. The reason for the loss was the dollar holding up near multi-week highs against prominent currencies, and a slew of American economic data beating expectations. The price of spot gold declined by 0.4% to $1,499.22/ounce while US gold futures fell 0.6% to $1,506.01/ounce. According to Mumbai-based Jigar Trivedi who plies his trade as a commodities analyst at Anand Rathi Shares and Stock Brokers, “A bunch of U.S. economic data came way above the forecasts, like the new home sales data and that along with a strong dollar is weighing on gold right now.”

      27 September 2019

    • Gold Shines As Saudi Oil Attacks Increases Safe-Haven Appeal

      Gold prices rose by over 1% as investors switched to safe-haven assets after the weekend attacks on Saudi Aramco’s oil facilities. Global oil supply has been affected, which ramped up rates and increased tensions in the Middle East.

      Spot gold rose by 1.2% to trade at $1,506.87 per ounce, tracking it’s biggest one-day gain since last month. U.S. gold futures rose by 1.1% to $1,516.10 per ounce.

      Oil prices surged after the drone attacks on oil infrastructure in Saudi Arabia, sending markets plummeting on fears of supply disruptions.

      China’s economic growth forecast was also dim, which dampened investor sentiment though Sino-U.S. trade relations appear to be easing.

      16 September 2019

    • Gold Surges To Lifetime High Amidst Economic Uncertainty

      Gold prices picked up again, reaching a lifetime high on increased domestic and retail orders. A rally in global markets and a weak rupee also bolstered bullion prices.

      Pure gold (99.9% purity) rose by Rs.300 to trade at Rs.39,970 for 10 grams, while standard gold (99.5% purity) traded at Rs.39,800 for 10 grams.

      There was a rise in bullion prices on the futures market as well, with gold for October delivery rising 0.45% to Rs.39,217 for 10 grams.

      On the global front gold prices remained steady after recording a steep hike on Tuesday, 27th August, 2019. Spot gold traded at $1,542.25 per ounce, recording no change in price.

      With the U.S. yield curve inversion deepening, bullion demand rose as stock markets fell steeply amid fears of a recession.

      28 August 2019

    • Gold prices fall as Fed’s rate outlook disappoints

      For the first time since 2008, the U.S. Federal Reserve has cut interest rates leading to prices of gold falling.

      Financial markets had in fact expected a quarter percentage point cut but the lack of a dovish outlook did not cheer investors.

      The Fed did say that they would continue to monitor the economy and will take appropriate actions to sustain the economy.

      U.S. President Donald Trump also warned China against waiting out his presidency to finalise a deal and stated that if he wins in November 2020, the outcome could be harsher than it currently is.

      With respect to other precious metals, silver fell by 0.9% to close at $16.43 per ounce, palladium rose by 0.7%, and platinum jumped 0.9% to close at $873.85 per ounce.

      31 July 2019

    • Gold Drops On Profit-Taking Despite Dovish Fed Stance

      Gold prices dropped from a near 2-week high on profit booking, though losses were capped. The Federal Reserve’s dovish monetary policy stance and a possible interest rate cut also kept bullion demand high.

      Spot gold fell by 0.4% to $1,421.06 per ounce in trading as investors sought to book profits at current price ranges.

      Investors and market watchers are focussed on the U.S. Federal Reserve’s next steps, as the United States threatened fresh tariffs on Chinese goods. The uncertainty across markets has boosted demand for gold, as global stock markets traded low.

      18 July 2019

    • Gold Steadies On Chinese Data But Gains Curbed by Equities

      Gold prices steadied after positive Chinese data bolstered equities, which led to curbs in bullion demand. The rise in Chinese industrial growth took markets by surprise but helped raise equity performance.

      There was little change in spot gold prices, which traded at $1,415.51 per ounce, but U.S. gold futures rose by 0.4% to $1,417.50 per ounce.

      Renewed fears over the impact of the ongoing trade tensions between the United States and China have beset investors and markets alike, with many waiting for U.S. economic data for a clearer picture of global economic health.

      15 July 2019

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