Gold Rate in Visakhapatnam Today

  • Today's Gold Rate in Visakhapatnam ( 26 May 2020 )

    ₹ 4,523
    Today's Gold Rate (22K) per gram

    Compare 22K & 24K Gold Rate In Visakhapatnam (Today & Yesterday)

    Today
    Yesterday
    Rate Change
    Standard Gold (22 K) ( 1 gram ) ₹ 4,523 ₹ 4,544 ₹ -21 ↓
    Standard Gold (22 K) ( 8 grams ) ₹ 36,184 ₹ 36,352 ₹ -168 ↓
    Pure Gold (24 K) ( 1 gram ) ₹ 4,749 ₹ 4,771 ₹ -22 ↓
    Pure Gold (24 K) ( 8 grams ) ₹ 37,992 ₹ 38,168 ₹ -176 ↓

    Daily Gold Rates

    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    26 May 2020 ₹ 4,523 ₹ 36,184 ₹ 4,749 ₹ 37,992
    24 May 2020 ₹ 4,544 ₹ 36,352 ₹ 4,771 ₹ 38,168
    23 May 2020 ₹ 4,544 ₹ 36,352 ₹ 4,771 ₹ 38,168
    22 May 2020 ₹ 4,487 ₹ 35,896 ₹ 4,711 ₹ 37,688
    21 May 2020 ₹ 4,496 ₹ 35,968 ₹ 4,721 ₹ 37,768
    20 May 2020 ₹ 4,536 ₹ 36,288 ₹ 4,763 ₹ 38,104
    19 May 2020 ₹ 4,578 ₹ 36,624 ₹ 4,807 ₹ 38,456
    18 May 2020 ₹ 4,586 ₹ 36,688 ₹ 4,815 ₹ 38,520
    17 May 2020 ₹ 4,546 ₹ 36,368 ₹ 4,773 ₹ 38,184

    Weekly & Monthly Graph of Gold Rate in Visakhapatnam

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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 Visakhapatnam

    Visakhapatnam, shortly known as Vizag, is one of the largest cities in Andhra Pradesh and is also known for having its own port along the coast which leads to the Bay of Bengal. In this page, we will give you all the information regarding gold and gold rate in Visakhapatnam.

    Residents of Visakhapatnam mostly view the yellow precious metal as a traditional form of investment. Gold rates in Visakhapatnam are subject to various developments in India and across the world. Gold prices in Visakhapatnam are, however, also dependent on the local taxes and transportation charges in addition to various additional costs charged by jewelry stores across the city.

    Gold in Vizag is mostly bought during the wedding season, festivals such as Diwali and auspicious occasions such as Akshaya Tritiya which witnesses maximum rush with customers making a beeline at jewelry stores across the city to avail of the attractive discounts. Gold in Visakhapatnam is bought in the form of intricate wedding jewelry, gold coins and bars. Traditionally, South India has been the largest consumer of gold with prominent jewelry chains dotting across the region. There are over 300,000 jewelers across India including small businesses.

    Trend of Gold Rate in Visakhapatnam for April 2020 (rates per gram of 24 karat gold)

    Parameters Gold Price (24 karat)
    April 1 Rate Rs.4,150 per gram
    April 30 Rate Rs.4,720 per gram
    Highest Rate in April Rs.4,720 per gram on 30 April 2020
    Lowest Rate in April Rs.4,150 per gram from 1 April to 5 April
    Overall Monthly Performance Incline
    Percentage Change 13.73%

    Trend of Monthly Gold Rate in Visakhapatnam for April 2020:

    • The price of gold in Visakhapatnam for the month of April opened at Rs.4,150 per gram. From 1 April 2020 to 5 April 2020, no changes were made to the prices of gold. Gold hit its lowest price for the month during this period as well. After a slight increase on 6 April 2020, gold prices jumped significantly on 7 April 2020 and were at Rs.4,404 per gram. The coronavirus outbreak across the world and the subsequent lockdown in many countries was the main reason for the prices of gold to increase. After increasing by Rs.13 on 8 April 2020, gold rates decreased to Rs.4,391 per gram by 10 April 2020. The prices of gold were also supported by a weak dollar and the equities markets being affected in Asia. Central Banks in many countries also introduced several measures to boost the economy during the coronavirus pandemic.
    • Gold prices mainly fluctuated over the next seven days in the city. By 14 April 2020, gold was at Rs.4,451 for a gram. On 15 April 2020, gold saw another jump in its prices and was at Rs.4,566 per gram. After increasing over the next two days, gold saw its prices decrease on 18 April 2020. Many investors considered the yellow metal as a safe haven during this period as economies across the world were affected drastically.
    • In the third week of the month, gold prices were unpredictable. Gold prices continued to remain high because of the fears of a global recession. The unpredictable market also played a role in ensuring that the prices of gold remained high. Gold prices decreased during the course of the week as well after the US President said that the markets would reopen shortly. The high value of the dollar also ensured that the prices of gold did not see a huge increase over the course of the week. On 25 April 2020, the price of gold was at Rs.4,582 per gram.
    • At the end of the month, gold prices saw a huge increase in their prices. By 27 April 2020, the price of gold was at Rs.4,700 per gram. The main reason for the increase in prices was due to the several measures that were introduced by Central Banks to help the economy due to the coronavirus outbreak. On 30 April 2020, the price of gold hit its highest rate for the month and was at Rs.4,720 per gram. Over the course of the month, gold saw its prices increase by 13.73%.

    Trend of Gold Rate in Visakhapatnam for March 2020 (rates per gram for 24 karat gold)

    Parameters Gold Price (24 karat)
    March 1 Rate Rs.4,185 per gram
    March 31 Rate Rs.4,150 per gram
    Highest Rate in March Rs.4,443 per gram on 6 March 2020
    Lowest Rate in March Rs.4,026 per gram on 19 March 2020
    Overall Monthly Performance Decline
    Percentage Change -0.83%

    Gold Rate Trend in Visakhapatnam for March 2020:

    • March saw the price of gold decline by 0.49%. The gold was priced at Rs.4,185 per gram on the first day of the month and by 3 March, the rates had hiked to Rs.4,215 per gram. With this rise, the gold had emerged from a decline, led by investors waiting for the U.S. Federal Reserve to cut the interest rate. This week had closed curtains on gold with the gold being priced at Rs.4,417 per gram on 8 March.
    • By 10 March, the price of gold fell to Rs.4,427 per gram. One gram of gold cost Rs.4,160 by 16 March. The rates of the gold had fallen because traders had adhered to a selling spree. They were selling the gold and wanted to hold onto liquid cash for meeting the margin calls of the stock market. By 19 March, gold reached its lowest price for March as it was being sold at Rs.4,026 per gram. This dip in the rates had been driven by traders liquidating their positions in the gold. This was done in spite of the central banks’ measures to combat the coronavirus impact on the economy. On 21 March, the price of the gold had hiked to Rs.4,164 per gram. A lot of fiscal stimulus and monetary measures by the central banks had been announced for combatting the effect of the coronavirus and helping a weak global economy.
    • The fourth week saw traders continuing to fear of an economic fallout driven by the coronavirus. The price of the gold had remained stable during the last week of the month. Gold was priced at Rs.4,150 per gram from 22 March to 31 March.

    Trend of Gold Rate in Visakhapatnam for February 2020 (rates per gram for 24 karat gold)

    Parameter Gold price (24 karat)
    February 1 Rate Rs.4,077 per gram
    February 29 Rate Rs.4,185 per gram
    Highest Rate in February Rs.4,305 per gram on 24 February
    Lowest Rate in February Rs.4,030 per gram on 6 February
    Overall Performance Incline
    Percentage Change 2.64%

    Gold Rate Trend in Visakhapatnam for February 2020:

    • Opening the month at Rs.4,077 per gram, gold rates in Visakhapatnam held steady until 4 February. The price of the metal showed a heavy fall in prices from 5 February at Rs.4,040 per gram and then further down to Rs.4,030 per gram on 6 February. The decline in prices was majorly due to the Central Bank of China liquidating funds and cutting down their reverse repo rates in order to help stabilise their economy after it was greatly affected by Coronavirus. After declining to Rs.4,030 per gram, gold prices increased yet again to Rs.4,093 per gram by 9 February.
    • At the beginning of the second week, on 10 February, the price of gold in the city was trading at a marginally lower price at Rs.4,079 per gram and decreased for the following two days on 11 February and 12 February. This was majorly due to a higher risk appetite amongst investors with the lowering number of Coronavirus cases all over the world. On 12 February, the price of the metal was Rs.4,057 per gram. However, there was a sudden increase in the metal’s prices with new cases being reported all over the world and the death toll rising as well. By 15 February, the price of the metal had increased to Rs.4,120 per gram.
    • Immediately after hitting Rs.4,120 per gram on 15 February, the price of the yellow metal plummeted on 17 February to Rs.4,107 per gram and then increased marginally to Rs.4,109 per gram on 18 February. However, with the escalation in fears of Coronavirus, investors shifted back the bullion, thus increasing global demand and prices. The metal’s price on 19 February had increased to Rs.4,151 per gram and further increasing to Rs.4,179 per gram on 20 February. Gold prices saw major inclines in the fourth week of the month.
    • After increasing substantially in the third week, gold prices saw a price hike in the last week of the month amidst decreasing risk appetite and an increase in demand for gold due to safe-haven appeal. On 21 February, the price of the metal had increased to Rs.4,213 per gram and in just 3 days, the metal hit its monthly high at Rs.4,305 per gram. However, due to the sudden rise in prices and constant fluctuations, investors started booking profits. This led to a further decline in gold prices in the city. At the end of the month, the price of the metal on 29 February was Rs.4,185 per gram with a percentage decline of 2.64.

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

    Parameter Gold price (24 karat)
    January 1 Rate Rs.3,922 per gram
    January 31 Rate Rs.4,074 per gram
    Highest Rate in January Rs.4,125 per gram on 9 January
    Lowest Rate in January Rs.3,919 per gram on 2 January
    Overall Performance Incline
    Percentage Change 3.87%

    Gold Rate Trend in Visakhapatnam for January 2020:

    • Gold opened the month of January at Rs.3,922 per gram in Visakhapatnam. The rates showed an inclining trend through the month. Compared to the previous month’s closing price, the rates of the yellow metal slipped by Rs.3 per gram.
    • The rates of gold climbed to the highest for the month in the city on 8 January. A gram of the 24-karat gold was sold for Rs.4,125 as investors shifted to the bullion as a safe-haven asset given the escalating tensions in the Middle East.
    • Gold prices slipped in Visakhapatnam following that as the dollar recovered in the global markets after Washington and Beijing signed the interim Phase-1 trade deal. The outbreak of coronavirus in China also affected the prices of the yellow metal. Gold prices stood at Rs.4,028 per gram on 21 January.
    • With the World Health Organization (WHO) declaring a World Health Emergency due to the rising number of cases of coronavirus and deaths, the rates of the yellow metal closed the month at Rs.4,074 per gram. Gold’s overall performance in Visakhapatnam was 3.87%, trending upwards.

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

    Parameter Gold price (24 karat)
    December 1 Rate Rs.3,828 per gram
    December 31 Rate Rs.3,925 per gram
    Highest Rate in December Rs.3,925 per gram on 31 December
    Lowest Rate in December Rs.3,771 per gram on 11 and 13 December
    Overall Performance Incline
    Percentage Change 2.53%

    Gold Rate Trend in Visakhapatnam for December 2019:

    • Gold started the month of December at Rs.3,828 per gram in Visakhapatnam. The rates of the precious metal didn’t see any change when compared to the previous month’s closing price.
    • As investors decided to take a wait and watch approach about the new US tariffs on Chinese products and US Federal Reserve’s monetary policy statement, the rates of the yellow metal slipped to Rs.3,771 per gram in the city.
    • The prices of gold remained stable for most part of the third week. However, with the Senate voting in favor of impeachment of the US president, the rates fluctuated towards the end of the week.
    • In the final week of December, the rates of gold soared as demand for the safe-haven metal increased due to persisting uncertainties about the signing of the U.S. - China trade deal. Gold closed the month Rs.3,925 per gram with the overall performance being on an upward curve of 2.53%.

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

    Parameter 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.3,803 per gram on 12 and 29 November
    Overall Performance Decline
    Percentage Change -1.64%

    Gold Rate Trend in Visakhapatnam for November 2019:

    • Gold rates saw an overall decline of 1.64% for the month of November in Visakhapatnam due to the trade talk tensions between the US and China and the weak US dollar.
    • The price of gold opened at Rs.3,892 on 1 November. However, the prices of gold saw a decline of 1.64% and closed at Rs.3,828 on 30 November.
    • The price of gold recorded its highest rate of Rs.3,892 per gram on 1 November.
    • The prices of gold recorded its lowest rates on 12 and 29 November and hit Rs.3,803 per gram.

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

    Parameters Gold price (24 karat)
    October 1 Rate Rs.3,722 per gram
    October 31 Rate Rs.3,857 per gram
    Highest Rate in October Rs.3,872 per gram from 26 October – 27 October
    Lowest Rate in October Rs.3,722 per gram on 1 October
    Overall Performance Incline
    Percentage Change 3.62%

    Gold Rate Trend in Visakhapatnam for October 2019:

    • The price of gold showed a positive trend throughout the month opening at Rs.3,722 per gram. Uncertainty in the trade war between China and the United States of America, gold prices increased as investors shifted from the stock market to the bullion.
    • On 5 October, the price of the metal increased to Rs.3,830 per gram as investors awaited the decision made by both the countries in the trade talks. After constant fluctuations in the markets, the price of the metal hit Rs.3,856 per gram on 15 October.
    • The metal hit its highest price on 26 October at RS.3,872 per gram as investors awaited the decision on Brexit along with the United States Federal Reserve cut the interest rates for the third time in the year.
    • Due to this, the price of the metal increased. However, in the last three days of the month, gold prices saw a slight decline, closing the month at Rs.3,857 per gram with a percentage incline of 3.62%.

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

    Parameters Gold price (24 karat)
    September 1 Rate Rs.3,876 per gram
    September 30 Rate Rs.3,783 per gram
    Highest Rate in September Rs.3,941 per gram on 5 September
    Lowest Rate in September Rs.3,758 per gram on 19 September
    Overall Performance Decline
    Percentage Change -2.39

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

    Parameters Gold price (24 karat)
    August 1 Rate Rs.3,614 per gram
    August 31 Rate Rs.4,001 per gram
    Highest Rate in August Rs.4,030 per gram on 27 August
    Lowest Rate in August Rs.3,572 per gram on 2 August
    Overall Performance Incline
    Percentage Change 10.70%

    Trend of Gold Rate in Visakhapatnam for July 2019 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    July 1 Rate Rs.3,373 per gram
    July 31 Rate Rs.3,505 per gram
    Highest Rate in July Rs.3,537 per gram on 19 July
    Lowest Rate in July Rs.3,373 per gram on 1 July
    Overall Performance Incline
    Percentage Change 3.91%

    Trend of Gold Rate in Visakhapatnam for June 2019 (rates per gram for 24 karat gold)

    Parameters Gold price (24 karat)
    June 1 Rate Rs.3,233 per gram
    June 30 Rate Rs.3,415 per gram
    Highest Rate in June Rs.3,428 per gram on 28 June
    Lowest Rate in June Rs.3,233 per gram on 1 – 2 June
    Overall Performance Incline
    Percentage Change 5.62%

    Gold Rate Trend in Visakhapatnam for June 2019:

    • Gold rate in Visakhapatnam opened at Rs.3,233 per gram for the month of June as the demand was stagnant.
    • The ongoing trade conflict between the United States and China ensured that the gold demand remains high throughout June.
    • Due to overall increase in demand for the yellow metal, prices went as high as Rs.3,428 per gram on June 28.
    • The precious metal maintained an overall incline throughout the month and closed at Rs.3,415 per gram.

    Trend of Gold Rate in Visakhapatnam for May 2019 (rates per gram for 24 karat gold)

    Parameters Gold price (24 karat)
    May 1 Rate Rs.3,190 per gram
    May 31 Rate Rs.3,215 per gram
    Highest Rate in May Rs.3,246 per gram on 14 May
    Lowest Rate in May Rs.3,156 per gram on 23 May
    Overall Performance Incline
    Percentage Change 0.78%

    Gold Rate Trend in?Visakhapatnam for May 2019:

    • Gold opened the month of May at the rate of Rs.3,190 per gram in Visakhapatnam, staying steady for the next couple of days.
    • By the end of the second week of May, prices began to incline, influenced by dollar fluctuations. The gold rate on May 14 was Rs.3,246 per gram, which was the highest recorded for the months of May.
    • By the end of the second last week of the month, prices started going downhill. On May 23, the gold rate stood at Rs.3,156 per gram. This was the lowest rate recorded in the month.
    • The overall performance of gold in the month of May was at an inclining rate, with an incline percentage of 0.78%. The month closed at the rate of Rs.3,215 per gram.

    Trend of Gold Rate in Visakhapatnam for April 2019 (rates per gram for 24 karat gold)

    Parameters Gold price (24 karat)
    April 1 Rate Rs.3,189 per gram
    April 30 Rate Rs.3,194 per gram
    Highest Rate in April Rs.3,208 per gram on 9, 27 and 28 April
    Lowest Rate in April Rs.3,161 per gram on 3 April
    Overall Performance Incline
    Percentage Change 0.15%

    Trend of Gold Rate in Visakhapatnam for March 2019 (rates per gram for 24 karat gold)

    Parameters Gold price (24 karat)
    March 1 Rate Rs.3,305 per gram
    March 31 Rate Rs.3,200 per gram
    Highest rate in March Rs.3,305 per gram on 1 March
    Lowest rate in March Rs.3,169 per gram on 29 March
    Overall Performance Decline
    Percentage Change -3.17%

    Gold Rate Trend in Visakhapatnam for March 2019:

    • Gold rates in Visakhapatnam were on the decline after trading at Rs.3,305 per gram on 1 March as strengthening equity markets and a rising U.S. dollar rate capped gains from local offtake.
    • The precious metal slipped to Rs.3,233 per gram on 11 March as a weak overseas trend coupled with a rise in the dollar rate reduced local demand, though fears of a global slowdown capped losses.
    • Prices fell to Rs.3,190 per gram on 18 March as positive U.S. economic data bolstered investors risk sentiment and reduced bullion safe-haven appeal before a slight drop in the dollar rate once again boosted gold rates to Rs.3,236 per gram on 24 March.
    • Demand fluctuated in the last week as gains were capped despite stable local demand on waning overseas industrial offtake and a strengthening dollar as the precious metal dropped to Rs.3,169 per gram on 29 March before recovering marginally to close at Rs.3,200 per gram on 31 March.

    Trend of Gold Rate in Visakhapatnam For February 2019 (rates per gram for 24 karat gold)

    Parameters Gold Price (24 karat)
    February 1 Rate Rs.3,326 per gram
    February 28 Rate Rs.3,333 per gram
    Highest Rate in February Rs.3,392 per gram on 20 and 21 February
    Lowest Rate in February Rs.3,292 per gram on 13 February
    Overall Monthly Performance Incline
    Percentage Change 0.21%

    Gold Rate Trend in Visakhapatnam for February 2019:

    • Declining retail offtake and market volatility capped bullion gains despite gold rates in Visakhapatnam trading consistently after opening at Rs.3,326 per gram on 1 February.
    • Prices fluctuated on conflicting overseas cues, rising to Rs.3,346 per gram on 5 February on steady jeweller demand before dipping to Rs.3,305 per gram on 12 February as investor interest declined.
    • Apprehension over the outcome of the upcoming Sino-U.S. trade talks bolstered demand for safe-haven bullion, as gold prices rose to Rs.3,350 per gram on 16 February.
    • A weak U.S. dollar also boosted local demand for the metal as gold prices rose to Rs.3,392 per gram on 21 February, but a hawkish Fed Reserve stand saw demand drop as gold closed at Rs.3,333 per gram on 28 February.

    Trend of Gold Rate in Vishakhapatnam for January 2019 (rates per gram for 24 karat gold)

    Parameters Gold Price (24 karat)
    January 1 Rate Rs.3,172 per gram
    January 31 Rate Rs.3,321 per gram
    Highest Rate in January Rs.3,326 per gram on 30 January
    Lowest Rate in January Rs.3,172 per gram on 1 and 2 January
    Overall Monthly Performance Incline
    Percentage Change 4.69%

    Gold rate trend in Vishakhapatnam for January 2019:

    • Gold rate opened the month at Rs.3,172 per gram in Vishakhapatnam on 1 January 2019 and showed a steady incline through the month.
    • Due to the weakening of the dollar against the other currencies, the demand for the bullion increased, resulting in the increase in value of gold.
    • The demand amongst local jewellers also played a significant role in the rise in demand in the city as well as in India. By the middle of the month, the price of the metal had increased to Rs.3,242 per gram.
    • The highest price of the metal was on 30 January 2019 at Rs.3,326 per gram. The metal decreased marginally and closed the month at Rs.3,321 per gram with a percentage incline of 4.69.

    Trend of Gold Rate in Visakhapatnam for December 2018 (rates per gram for 24 karat gold)

    Parameters Gold Price (24 karat)
    December 1 Rate Rs.3,045 per gram
    December 31 Rate Rs.3,165 per gram
    Highest Rate in December Rs.3,260 per gram on 11 December
    Lowest Rate in December Rs.3,045 per gram on 1 December
    Overall Monthly Performance Incline
    Percentage Change 3.94%

    Gold Rate Trend in Visakhapatnam for December 2018

    • In the port city of Vizag, gold bore witness to significant gains over the course of trading this month. On the 1st of December, the precious metal was priced at Rs.3,045 per gram – the lowest gold rate this month as demand was weak.
    • Demand began to surge from the 2nd onwards and as bullion investors began to take advantage of the falling dollar, gold rates went up to Rs.3,260 per gram on the 11th, to record the highest gold rate this month.
    • As demand slowed down over the next 20-odd days, gold rates in Visakhapatnam dropped considerably from the month’s high to end at Rs.3,165 per gram.
    • Gold prices trends recorded an incline over this month and there was a 3.94% change compared to trading in November. This growth was made possible by a poor rupee in the domestic market and a poor dollar in the global market, and the shaky economic market.

    Trend of Gold Rate in Visakhapatnam for November 2018 (rates per gram)

    Parameters Gold price (24 carat)
    November 1 Rate Rs.3,184 per gram
    November 30 Rate Rs.3,045 per gram
    Highest Rate in November Rs.3,187 per gram on 6 November
    Lowest Rate in November Rs.3,045 per gram on 30 November
    Overall Monthly Performance Decline
    Percentage Change -4.36%

    Trend of Gold Rate in Visakhapatnam for October 2018 (rates per gram)

    Parameters Gold price (24 carat)
    October 1 Rate Rs.3,071 per gram
    October 31 Rate Rs.3,188 per gram
    Highest Rate in October Rs.3,205 per gram on 27 October
    Lowest Rate in October Rs.3,071 per gram on 1 October
    Overall Monthly Performance Incline
    Percentage Change 3.81%

    Trend of Gold Rate in Visakhapatnam for September 2018 (rates per gram)

    Parameters Gold price (24 carat)
    September 1 Rate Rs.3,029 per gram
    September 30 Rate Rs.3,074 per gram
    Highest Rate in September Rs.3,091 per gram on 19 September
    Lowest Rate in September Rs.3,019 per gram on 3 September
    Overall Monthly Performance Incline
    Percentage Change 1.48%

    Trend of Gold Rate in Visakhapatnam for August 2018 (rates per gram)

    Parameters Gold price (24 karat)
    August 1 Rate Rs.2,983 per gram
    August 31 Rate Rs.3,036 per gram
    Highest Rate in August Rs.3,036 per gram on 31 August
    Lowest Rate in August Rs.2,940 per gram on 16 August
    Overall Monthly Performance Incline
    Percentage Change 1.77%

    August 2018 - Week 1 (1 - 5):

    • August 2018 began with steady industrial and investor demand for gold. This could be associated to the US Federal Reserve’s monetary policy meeting. The month began with gold in Visakhapatnam trading at Rs.2,983 per gram.
    • Gold rate in Visakhapatnam dropped to Rs.2,972 per gram on the 2nd before dipping further to Rs.2,956 per gram on 3 August as the US dollar strengthened.
    • With the US dollar increasing in value against several other emerging currencies ahead of the US Fed statement, demand for the metal dropped, which did not affect the price of the metal considerably during the week.
    • The week came to an end with the gold price in Visakhapatnam holding at Rs.2,973 per gram on 5 August as demand for the metal from local jewellers and industries remained steady. Weak overseas trends were also recorded during this time.

    August 2018 - Week 2 (6 - 12):

    • Trading commenced for the week with the gold rate in Visakhapatnam holding at Rs.2,968 per gram on the 6th amid poor global cues.
    • However, with the US employment data indicating a drop in the number of US jobs contributing to the nation’s economy, the dollar dropped during the week.
    • Positive market trends overseas coupled with steady investor demand led to gold in Visakhapatnam being priced at Rs.2,965 per gram the 9th of August.
    • Strong domestic demand coupled with favourable market cues globally led to the gold price in Visakhapatnam holding steady at Rs.2,967 per gram on 10 August.
    • However, on the last day of the week, the metal was priced at Rs.2,984 per gram on 12 August.

    August 2018 - Week 3 (13 - 19):

    • The week opened with the gold rate in Visakhapatnam standing at Rs.2,985 per gram on the 13th with domestic bullion markets capitalising on the previous week’s gains.
    • With the US greenback losing against other apex currencies, demand for the metal surged during the week.
    • This led to gold in Visakhapatnam being priced at Rs.2,968 per gram on the 14th before surging to Rs.2,977 per gram on the 15th amid the positive trend overseas.
    • However, with the US dollar regaining lost ground over the next few days, investor demand for the metal dropped significantly. This led to gold in Visakhapatnam being priced at Rs.2,946 per gram , one of the lowest prices recorded in the month on the 17th.
    • Poor trends overseas coupled with declining demand led to gold rate in Visakhapatnam finishing at Rs.2,952 per gram on the 19th.

    August 2018 - Week 4 (20 - 26):

    • The fourth week began with gold in Visakhapatnam priced relatively higher at Rs.2,962 per gram on the 20th as the US dollar stabilised as the tension rose regarding trade war concerns.
    • Gold continued to trade at the same rate before surging to Rs.2,974 per gram on the 22nd amid the positive trend overseas.
    • With President Trump criticizing the US Federal Reserve decision to raise interest rates, the greenback tumbled. This led to investors banking on the bullion during the week.
    • The week ended with the gold rate in Visakhapatnam holding at Rs.3,004 per gram on the 26th with steady demand from market participants amid positive global cues.

    August 2018 - Week 4 (27 - 31):

    • When trading commenced for the last week, gold price in Visakhapatnam was recorded holding at Rs.2,999 per gram on the 27th with steady demand from local industries, jewellers and retailers amid the firm trend overseas.
    • With the US dollar losing considerably against a basket other major currencies, demand for the metal surged.
    • Gold in Visakhapatnam continued trading at Rs.2,999 per gram on the 28th which rose slightly the next day to Rs.3,012 per gram ahead of the US Federal Reserve chairman statement.
    • Trading closed for the month with the gold rate in Visakhapatnam holding slightly higher at Rs.3,036 per gram on the 31st with subdued but steady demand from domestic jewellers and retailers.
    • Visakhapatnam registered an incline of 1.77% in gold trade during the course of the month.

    Trend of Gold Rate in Visakhapatnam for July 2018 (rates per gram)

    Parameters Gold price (24 carat)
    July 1 Rate Rs.3,059 per gram
    July 31 Rate Rs.2,986 per gram
    Highest Rate in July Rs.3,071 per gram on 6 July
    Lowest Rate in July Rs.2,990 per gram on 27 July
    Overall Monthly Performance Decline
    Percentage Change -2.38%

    July 2018 - Week 1 (1 - 6):

    • Gold was priced at Rs.3,059 per gram when trading began for the month of July in the port city of Visakhapatnam. This was a drop from the previous month’s closing rates as the US dollar seemed to strengthen against other currencies.
    • By the 5th, gold rates went up to Rs.3,067 per gram as the latest indecision over the rise of Fed rate hike caused the dollar to drop and prices surged.
    • The next day saw gold rates rise marginally as the US dollar began to strengthen after a positive Fed minutes.
    • When the week ended on the 6th, gold was trading at Rs.3,071 per gram.

    July 2018 - Week 2 (7 - 13):

    • The second week of July began with gold opening at Rs.3,014 per gram - a significant low compared to the previous week as the markets bounced back after a positive Fed minutes helped the dollar.
    • Gold prices dropped slightly over the next couple days, remaining at Rs.3,008 per gram from the 8th to the 10th of July.
    • Price of gold in Visakhapatnam surged to Rs.3,036 per gram on the 12th as there was still some hot blood between the US and China.
    • The 13th saw rates drop to Rs.3,028 per gram as demand dropped ahead of a strong dollar.

    July 2018 - Week 3 (14 - 20):

    • When the third week of July began, gold was priced at Rs.3,029 per gram - a very slight increase compared to the previous day.
    • The dollar seemed to be on the rise, which led to gold rates held steady on a consistent basis for the next few days.
    • This was because local demand on the rise which in turn helped offset the rise in the the US dollar rates and kept gold prices stable.
    • From the 14th to the 17th, gold continued to trade at Rs.3,029 per gram as demand was on the balance in the domestic market.
    • As the US dollar rose to hit a three-week high, gold rates went up to Rs.2,997 per gram on 19th July.
    • When the week came to a close on the 20th, gold prices stood at Rs.2,997 per gram - a Rs.32 decline from the week’s starting rates.

    July 2018 - Week 4 and 5 (21 - 31):

    • The fourth week of July saw gold opening at Rs.3,018 per gram - a Rs.21 incline from the previous day’s rates.
    • This happened because the US dollar was on a declining path which hit a two-week low on the 23rd, causing gold demand to surge globally.
    • However, there was a slowdown in demand in the Visakhapatnam market, which caused gold prices to hit Rs.3,014 per gram on this day.
    • The US treasury yield results were announced, which showed some good gains. This caused gold rates to drop over the course of the week.
    • On the 24th, the yellow metal traded at Rs.2,997 per gram before rising to Rs.3,014 per gram by the end of the week.
    • When July ended, gold was seen trading at Rs.2,986 per gram - a Rs.63 decline from the month’s starting rates.
    • Price trends saw a 2.38% decline this month as demand was on the weaker side, owing to a strongly performing US dollar.

    Trend of Gold Rate in Visakhapatnam for June 2018 (rates per gram)

    Parameters

    Gold price (24 karat)

    June 1 Rate

    Rs.3,100 per gram

    June 30 Rate

    Rs.3,054 per gram

    Highest Rate in June

    Rs.3,119 per gram on 9 and 10 June

    Lowest Rate in June

    Rs.3,054 per gram on 29 and 30 June

    Overall Monthly Performance

    Decline

    Percentage Change

    1.48%

    June 2018 - Week 1 (1st - 10th):

    • Trading opened for the month in Visakhapatnam with gold priced at Rs.3,100 per gram on the 1st with strong local demand amid positive global trends.
    • With the US jobs and payrolls’ data reporting an increase in US jobs during the last month, the greenback strengthened. This led to gold price in Visakhapatnam dropping over the next few days.
    • The yellow metal was recorded trading at Rs.3,089 per gram on the 3rd before plunging to Rs.3,081 per gram the next day amid the poor trend overseas.
    • However, with the G7 summit around the corner, the bullion trade witnessed an increase in investor demand with market participants speculating over disagreements during the summit.
    • Steady global demand coupled firm market trends led to rates rising to Rs.3,088 per gram on the 6th.
    • Prices remained untouched at Rs.3,088 per gram before surging to Rs.3,103 per gram on the 8th following an increase in domestic demand from local industries and coin makers.
    • The G7 summit, as expected, witnessed strong disagreements between the participating nations with the US President blaming the other head of the states for wrong trade practices.
    • A drop in the dollar value following the eventful summit led to gold rate rising to Rs.3,119 per gram on the 9th. This was also the highest recorded figure during the month.
    • The week came to an end with the precious metal priced at Rs.3,119 per gram with steady demand coupled with strong trends globally.

    June 2018 - Week 2 (11th - 17th):

    • The second week began with gold rates dropping to Rs.3,105 per gram on the 11th with investors refraining from purchases ahead of the US-North Korean summit.
    • Global interest declined for the metal with the US dollar index rising against other apex currencies, strengthening the dollar. The bullion was recorded trading at Rs.3,101 per gram on the 13th amid the weak trend overseas.
    • Though prices rebounded to Rs.3,110 per gram on the 14th on account of an increased industrial offtake for the metal, domestic demand was held in check by the strong US dollar and equities overseas the next couple of days.
    • Trading concluded for the week with gold priced at Rs.3,095 per gram on the 16th with subdued demand from local industries, jewellers and retailers amid the poor global cues.

    June 2018 - Week 3 (18th - 24th):

    • When trading began for the week, gold price in Visakhapatnam were recorded holding at Rs.3,087 per gram on the 18th with investors putting their confidence of the US dollar amid the well-performing equities.
    • Rates surged to Rs.3,098 per gram on the 19th before plummeting to Rs.3,081 per gram the next day with the greenback touching near 11-month highs at the international level.
    • The rest of the week saw gold rate in Visakhapatnam hovering near the Rs.3,065 per gram range with prices fluctuating amid the uneven dollar performance.
    • The week ended with the yellow metal trading at Rs.3,069 per gram on the 24th with subdued but steady local demand amid the weak trend overseas.

    June 2018- Week 4 (25th - 30th):

    • The final week of trading opened as gold rates were recorded holding at Rs.3,070 per gram on the 25th with domestic demand suppressed by the dominant US greenback and well-performing equity markets.
    • With investors and traders speculating ahead of the US Federal Reserve monetary policy meeting, the dollar strengthened. This led to prices plummeting to Rs.3,061 per gram on 27th.
    • The precious metal prices recovered to Rs.3,073 per gram for a brief period on the 28th before plunging to Rs.3,054 per gram - the lowest recorded monthly figure - on the 29th as domestic demand flatlined amid the rising greenback.
    • Poor trend overseas coupled with weak demand from industries and jewellers led to gold rates closing at Rs.3,054 per gram on the last day.

    Trend of Gold Rate in Visakhapatnam for May 2018 (rates per gram for 24 karat gold)

    Parameters Gold price (24 karat)
    May 1 Rate Rs.3,114 per gram
    May 31 Rate Rs.3,122 per gram
    Highest Rate in May Rs.3,213 per gram on 15 May
    Lowest Rate in May Rs.3,103 per gram on 3 May
    Overall Monthly Performance Incline
    Percentage Change 0.25%

    May 2018 - Week 1 (1st - 6th)

    • Trading commenced for the month in Visakhapatnam with the bullion priced at Rs.3,114 per gram o the 1st amid firm overseas trends.
    • Demand for the metal dropped over the next couple of days with traders and market participants speculating ahead of the US Fed Reserve monetary policy meeting.
    • The strengthened US dollar coupled with poor investor demand led to gold rates in Visakhapatnam plunging to Rs.3,103 per gram on the 3rd. This was also the lowest recorded monthly figure in the city.
    • Demand picked up as the week progressed with domestic markets capitalising on the losing dollar index and poorly performing equity markets.
    • The week concluded with gold trading at Rs.3,136 per gram on the 6th with strong demand from jewellers, retailer and industries amid the firm trend overseas.

    May 2018 - Week 2 (7 th- 13th)

    • When trading began for the second week, the precious metal was recorded trading at Rs.3,136 per gram on the 7th with consistent domestic demand brought about by favourable global cues.
    • Gold price in Visakhapatnam plunged by Rs.3 to Rs.3,133 per gram on the 8th before recovering to Rs.3,134 per gram on the 9th as demand stabilised at the domestic level.
    • With the US inflation data reporting a decline in the number of jobs contributing to the US economy for the month of April, the US dollar weakened. This led to gold rates surging to Rs.3,142 per gram on the 10th.
    • Steady demand coupled with positive global cues led to gold rates rising further to Rs.3,166 per gram on the 12th.
    • The week came to an end with the bullion prices holding steady at Rs.3,166 per gram on the 13th, thanks to steady demand from local jewellers, retailers and industries amid the firm trend overseas.

    May 2018 - Week 3 (14th- 20th)

    • The week opened in Visakhapatnam with gold priced relatively lower at Rs.3,147 per gram on the 14th as the US dollar regained lost ground with the dollar index gaining against a basket of other major currencies.
    • However, with investors refraining from making purchases ahead of the US Fed Reserve meeting, the US dollar weakened. This led to gold rates surging to Rs.3,213 per gram on the 15th.
    • The next couple of days saw demand on the decline amid the recovering US dollar and equities and gold was priced at Rs.3,120 per gram and Rs.3,105 per gram on the 16th and the 17th respectively.
    • Gold price in Visakhapatnam remained untouched at Rs.3,105 per gram on the 18th on account of subdued demand from local industries and jewellers.
    • However, an increase in investor demand brought about by the rising US-European political uncertainties led to gold rate in Visakhapatnam recovering to Rs.3,124 per gram on the last day of the week.

    May 2018 - Week 4 (21st - 27th)

    • Trading opened for the week with gold rates in Visakhapatnam holding at Rs.3,113 per gram on the 21st as demand subsided amid the rising dollar rates and recovering equity markets.
    • Prices remained unaltered at Rs.3,113 per gram on the 22nd before rising to Rs.3,125 per gram the next day with domestic markets tracking favourable trends overseas.
    • The dollar weakened after the US Federal Reserve decided to leave its benchmark interest rates unchanged and gold was priced at Rs.3,137 per gram on the 24th.
    • An increase in investor demand brought about by the tumbling dollar led to gold prices rising further to Rs.3,146 per gram on the 25th.
    • However, a decline in domestic demand from industries and jewellers over the next couple of days led to gold closing at Rs.3,133 per gram on the 27th.

    May 2018 - Week 5 (28th - 31st)

    • When trading commenced for the last week, the precious metal was recorded trading at Rs.3,106 per gram on the 28th with local demand suppressed by the strong US dollar and well-performing equities.
    • However, with the dollar losing ground amid the rising political uncertainties, demand for the metal surged. This led to gold rates rising to Rs.3,122 per gram on the 30th.
    • Trading came to an end with gold prices in Visakhapatnam holding at Rs.3,122 per gram on the 31st, registering an incline of 0.25% in rates during the month.

    Trend of Gold Rate in Visakhapatnam for April 2018 (rates per gram for 24 karat gold)

    Parameters Gold Price(24 karat)
    Gold Rate on 1st April 2018 Rs.3,072 per gram
    Gold Rate on 30th April 2018 Rs.3,123 per gram
    Highest Rate in April Rs.3,153 per gram on 19 April
    Lowest Rate in April Rs.3,064 per gram on 6 April
    Overall Monthly Performance Incline
    Percentage Change 1.66%

    April 2018- Week 1 (1st -7th)

    • The start of April saw gold prices fluctuate as local retail and industrial demand followed global trends.
    • Gold was priced at Rs.3,072 per gram on 1 April and steadily rose over the next few days on positive global trends and steady retail demand.
    • The possibility of higher U.S. trade tariffs on Chinese goods resulted in equity markets falling and an increase in demand for safe-haven assets like gold.
    • The yellow metal’s price rose to Rs.3,091 per gram on 3 April but began to fall over the next few days.
    • Prices fell to Rs.3,066 per gram on 5 April as a rising U.S. Dollar made gold imports more expensive, reducing demand.
    • Gold ended the week at Rs.3,075 per gram on 7 April.

    April 2018- Week 2 (8th-15th)

    • Tensions in Syria and escalating trade tensions between the U.S. and China kept equity markets turbulent this week as demand for gold soared.
    • Gold traded at Rs.3,075 per gram on 8 April but quickly rose to Rs.3,099 per gram on 11 April.
    • The possibility of U.S. intervention in Syria led to market turmoil as the dollar also plunged.
    • Local demand rose and gold traded at Rs.3,129 per gram on 12 April before prices regularised and gold fell to Rs.3,119 per gram on 14 April.
    • Prices shot up to Rs.3,142 per gram on 15 April as markets fell heavily due to political and economic instability

    April 2018- Week 3 (16th-22nd)

    • The third week saw gold prices in Visakhapatnam stabilise as equity markets recouped last week’s losses.
    • The precious metal opened the week at Rs.3,124 per gram on 16 April as markets assessed the effects of U.S.-led airstrikes on Syria.
    • Prices rose as the week progressed, trading at Rs.3,153 on 19 April after a slight rise in demand from Asian industrial units.
    • There was a slight dip in prices as trade tensions eased and markets recovered, resulting in gold falling to Rs.3,146 per gram on 20 April.
    • Prices rose to Rs.3,150 per gram as the week ended on 22 April after a late rally by the precious metal.

    April 2018- Week 4 (23rd-30th)

    • There was a general drop in demand for gold in the last week of April as jewellers reduced orders due to the end of the festive season.
    • The week began with gold priced at Rs.3,140 per gram on 23 April as retail demand was also on the decline.
    • A slight rise in gold rates was observed as U.S. Treasury yields resulted in a falling dollar rate.
    • Gold prices rose to Rs.3,146 per gram on 25 April before dropping to Rs.3,129 per gram on 27 April due to market fluctuations.
    • Prices dropped to Rs.3,123 per gram as the month ended on 30 April, recording a 1.66% rise in value.

    Trend of Gold Rate in Visakhapatnam for March 2018 (rates per gram for 24 karat gold)

    Parameters Gold Price(24 karat)
    Gold Rate on 1st March 2018 Rs.3,043 per gram
    Gold Rate on 31st March 2018 Rs.3,072 per gram
    Highest Rate in March Rs.3,105 per gram on 24 and 25 March
    Lowest Rate in March Rs.3,030 per gram on 19 March
    Overall Monthly Performance Incline
    Percentage Change 0.95%

    March 2018 - Week (1st - 4th)

    • When trade exchanges opened for the month of March, gold was priced at Rs.3,043 per gram.
    • Prices went up to Rs.3,049 per gram on the 3rd as demand for the metal surged amidst a poor equity market.
    • Gold rates in Visakhapatnam went further up to Rs.3,068 per gram on the 4th as the US President Donald Trump introduced tariffs on the import of steel and aluminium products.
    • The rise occurred because markets didn’t respond positively to the newly introduced change.

    March 2018 - Week 2 (5th - 11th)

    • On the 5th, gold was seen trading at Rs.3,054 per gram which then rose to Rs.3,064 per gram as demand rose for the precious metal.
    • The 7th saw prices rise to Rs.3,074 per gram after demand went up amid reports of a trade war between the US and China.
    • Gold prices in Visakhapatnam declined on the 8th to trade at Rs.3,061 per gram before falling further to Rs.3,047 per gram on the 9th as demand dropped.
    • The next day, however, saw gold prices rise to Rs.3,067 per gram as the US dollar weakened ahead of a weak jobs data.

    March 2018 - Week 3 (12th - 18th)

    • The third week began with gold opening at Rs.3,057 per gram before falling to Rs.3,047 per gram on the 13th.
    • On the 14th, gold rates went up to Rs.3,062 per gram after the latest firing of US Secretary Rex Tillerson by President Trump brought uncertainty into the market.
    • During the 15th, gold prices dipped to Rs.3.056 per gram before dropping further to Rs.3,040 per gram on the final day of the month.

    March 2018 - Week 4 (19th - 25th)

    • When the fourth week of March began on the 19th, gold was priced at Rs.3,030 per gram.
    • Due to a number of factors, gold rate rose to as high as Rs.3,067 per gram by the 22nd and surged further up to trade at Rs.3,081 per gram the next day.
    • The final two days of this week saw gold prices holding at Rs.3,105 per gram, which also happened to be the highest figures for the month.

    March 2018 - Week 5 (26th - 31st)

    • Trading opened for 26th March, with gold being priced at Rs.3,095 per gram, which went up marginally to Rs.3,098 per gram on the 27th.
    • The 28th saw prices fall to Rs.3,084 per gram as the US dollar rose against a host of other currencies, which caused gold demand to drop.
    • Over the 30th and 31st of March, gold was seen trading at Rs.3,066 per gram and Rs.3,077 per gram respectively.
    • Price trends recorded a 0.95% incline this month, thanks to a sharp increase in prices towards the final week.

    Trend of Gold Rate in Visakhapatnam for February 2018 (rates per gram for 24 karat gold)

    Parameters Gold Price(24 karat)
    Gold Rate on 1st February 2018 Rs.3,040 per gram
    Gold Rate on 28th February 2018 Rs.3,046 per gram
    Highest Rate in February Rs.3,103 per gram on 14 February
    Lowest Rate in February Rs.3,003 per gram on 8 February
    Overall Monthly Performance Incline
    Percentage Change 0.19%

    February 2018 - Week 1 (1 - 4):

    • In Visakhapatnam, when the first week of February began, gold traded at Rs.3,040 per gram.
    • The 2nd saw gold prices rise to Rs.3,071 per gram - a Rs.31 surge - as domestic demand improved amid positive cues from the overseas market.
    • The rise was facilitated by the commencement of the Fed Reserve meeting, which was keeping bullion investors quiet for a brief moment.
    • Gold price in Visakhapatnam fell to Rs.3,050 per gram as the impending release of the jobs data had a negative impact on gold sales.
    • When the week ended, gold was still trading at Rs.3,050 per gram.

    February 2018 - Week 2 (5 - 11):

    • The second week began in Visakhapatnam with gold trading at Rs.3,035 per gram.
    • As there was a massive sell-off in the global market, gold prices surged by Rs.31 per gram on the 6th of February.
    • The metal traded at Rs.3,071 per gram on the 6th before falling to Rs.3,031 per gram as the US dollar improved considerably.
    • With the dollar’s resurgence continuing, gold rate in Visakhapatnam took a hit. The metal traded at Rs.3,003 per gram on the 8th as a result of this.
    • Domestic demand, especially from jewellers rose, causing gold price in Visakhapatnam to go up to Rs.3,018 per gram on the 9th of February.
    • There was a marginal increase in prices on the 10th and gold was selling at Rs.3,023 per gram. When the week ended, gold rates were still holding at Rs.3,023 per gram.

    February 2018 - Week 3 (12 - 18):

    • Gold opened at Rs.3,025 per gram on the 12th as markets remained cautious amid as they waited for the US inflation data.
    • Gold price in Visakhapatnam increased slightly to reach Rs.3,030 per gram as there was a marginal increase in demand.
    • On the 14th, gold demand surged by a massive margin and prices went up to Rs.3,103 per gram and hit the month’s highest rate figures.
    • The next day, however, brought a slump in prices because the inflation data turned out to much more positive than expected which impacted global and subsequently local demand.
    • During the 15th, gold traded at Rs.3,071 per gram before rising ever so slightly to Rs.3,074 per gram the next day, on the 16th.
    • Strong global cues pushed gold rate in Visakhapatnam up to Rs.3,096 per gram on the 17th and the metal continued to trade at this rate till the closing hours of the week.

    February 2018 - Week 4 (19 - 25):

    • When the fourth week of February began, gold rate in Visakhapatnam had dropped to Rs.3,083 per gram - a Rs.13 decrease from the previous day.
    • However, rates dropped on the 20th to Rs.3,068 per gram as the US dollar mounted a comeback, thereby affecting the local sales as well.
    • There was a declining trend in gold rate in Visakhapatnam over the next two days too and the metal traded at Rs.3,057 per gram and Rs.3,054 per gram on the 21st and the 22nd respectively.
    • Due to local demand increasing, gold price in Visakhapatnam went up to Rs.3,060 per gram on the 23rd before rising again to Rs.3,069 per gram on the final day of this week.

    February 2018 - Week 5 (26 - 28):

    • Gold rate in Visakhapatnam had risen slightly to Rs.3,069 per gram when trading for February’s last week started.
    • The metal continued to trade at the same price the next day too before falling to Rs.3,046 per gram on the 28th of February.
    • Overall, gold price in Visakhapatnam inclined by 0.19% this month, thanks to a shaky US dollar and steady local demand.

    Find Today's Gold Rate in Top Metro Cities

    Trend of Gold Rate in Visakhapatnam for January 2018 (rates per gram for 24 karat gold)

    Parameters Gold Price(24 karat)
    Gold Rate on 1st January 2018 Rs.3,009 per gram
    Gold Rate on 31st January 2018 Rs.3,045 per gram
    Highest Rate in January Rs.3,129 per gram on 25 January
    Lowest Rate in January Rs.3,000 per gram on 4 January
    Overall Monthly Performance Incline
    Percentage Change 1.19%

    January 2018 - Week 1 (1st to 7th):

    • Trading commenced for the month in Visakhapatnam with the bullion priced at Rs.3,009 per gram on the 1st of January.
    • Thanks to steady domestic demand amid the firm trends overseas, prices remained untouched at Rs.3,009 per gram the next day.
    • Though gold rate in Visakhapatnam surged to Rs.3,014 per gram on the 3rd, the strengthening of the US dollar ahead of the latest US payrolls data resulted in rates plunging to Rs.3,000 per gram on the 4th.
    • However, the yellow metal prices rebounded to Rs.3,015 per gram on the 5th which surged further to Rs.3,021 per gram on the 6th after the dollar lost against other apex currencies due to the weaker than expected US employment data.
    • Steady demand coupled with firm trends overseas resulted in the gold price in Visakhapatnam holding steady at Rs.3,021 per gram for the remainder of the week.

    January 2018 - Week 2 (8th to 14th):

    • The week opened with the precious metal trading relatively lower at Rs.3,015 per gram on the 8th due to a decline in domestic demand from local jewellers, retailers and industries.
    • Gold rate in Visakhapatnam surged to Rs.3,021 per gram on the 9th before plunging to Rs.3,009 per gram the following day after the US dollar regained lost ground from the previous week’s losses.
    • However, with the US dollar index losing against a basket of other emerging currencies in the global market, gold price in Visakhapatnam rebounded to Rs.3,030 per gram on the 11th.
    • The next couple of days saw the yellow metal prices closing in on near seven-week highs in the world market amid strong trends overseas. Gold was priced at Rs.3,045 per gram and Rs.3,048 per gram on the 12th and the 13th respectively.
    • The week concluded with the precious metal prices holding at Rs.3,068 per gram on the 14th, thanks to an increased demand for the metal amid firm global trends.

    January 2018 - Week 3 (15th to 21st):

    • Trading opened for the third week with the bullion priced at Rs.3,071 per gram on the 15th amid the weakened US dollar and poorly performing equities.
    • An incline in global demand coupled with positive domestic investor sentiments amid the firm trends overseas resulted in gold rate in Visakhapatnam rising to Rs.3,086 per gram on the 16th.
    • However, with the US dollar improving against other emerging currencies over the next few days, the yellow metal was recorded trading at Rs.3,082 per gram on the 17th.
    • The 18th saw gold price in Visakhapatnam plummeting to Rs.3,061 per gram after the US treasury yields offered an increase in returns, thus, pushing demand lower for the precious metal.
    • Gold prices climbed as the week progressed as demand for the bullion rose significantly with markets mulled over a possible US government shutdown.
    • Rates rose to Rs.3,064 per gram on the 19th which surged further to Rs.3,084 per gram on the 20th amid the US government shutdown concerns.
    • When the week came to an end, the precious metal prices were recorded holding steady at Rs.3,084 per gram on the 21st owing to strong global demand coupled with positive overseas trends.

    January 2018 - Week 4 (22nd to 28th):

    • When trading commenced for the week, gold was recorded trading at Rs.3,078 per gram on the 22nd after an increase in the dollar value led to a decline in demand for the metal.
    • However, with the equity markets failing in the world market, the US dollar index lost against a basket of other apex currencies. This led to gold prices rising to Rs.3,087 per gram on the 23rd.
    • Gold rate in Visakhapatnam remained untouched at Rs.3,087 per gram the following day, thanks to steady demand from local jewellers, retailers and industries amid strong global cues.
    • The 25th witnessed the bullion prices surging to Rs.3,129 per gram with the US dollar hitting record lows and gold touching near 16-month highs in the global market.
    • Demand, however, began to drop as the week progressed with equity markets recovering from the previous days’ losses.
    • The precious metal was recorded trading at Rs.3,043 per gram on the 28th when the week ended. The decline in gold price in Visakhapatnam was due to the reduced demand for the metal amid the strengthening dollar and rising equities.

    January 2018 - Week 5 (29th to 31st):

    • The final week began with the bullion priced at Rs.3,043 per gram on the 29th with steady domestic demand amid firm trends overseas.
    • Gold price in Visakhapatnam plunged to Rs.3,030 per gram on the 30th after the US dollar regaining lost ground from its precious rally of losses.
    • The month concluded with the precious metal trading at Rs.3,045 per gram on the 31st with markets cautious ahead of the Fed Reserve’s two-day monetary policy meeting.
    • Visakhapatnam registered a profit of 1.33% in bullion trade owing to the strong global trends that pushed demand higher for the metal.

    Trend of Gold Rate in Visakhapatnam for December 2017 (rates per gram for 24 karat gold)

    Parameters Gold Price(24 karat)
    Gold Rate on 1st December 2017 Rs.2,982 per gram
    Gold Rate on 31st December 2017 Rs.3,015 per gram
    Highest Rate in December Rs.3,015 per gram on 30 and 31 December
    Lowest Rate in December Rs.2,906 per gram on 13 December
    Overall Monthly Performance Incline
    Percentage Change 1.10%

    December 2017 - Week 1 (1st to 10th)

    • Trading began in Visakhapatnam with the yellow metal priced at Rs.2,982 per gram on the 1st following the strengthened US dollar rates and firm equities in the world market.
    • However, with the US tax reform bill stalled in the US Senate as a result of conflicting opinions between the House and the Republicans, the dollar weakened. This led to gold being priced at Rs.3,002 per gram on the 2nd.
    • The Senate’s decision to set aside the political differences and green flag the US tax bill led to gold losing its lustre. The precious metal prices were recorded at Rs.2,977 per gram on the 4th before plunging further to Rs.2,968 per gram on the 5th.
    • Prices dropped further during the week with the dollar gaining on positive sentiments from the people on the newly passed tax bill. Gold was trading at Rs.2,957 per gram on the 6th which plummeted further to Rs.2,950 per gram on the 7th amid the poor trends overseas.
    • Gold rate in Visakhapatnam dropped to Rs.2,920 per gram on the 8th with the bullion trade registering its lowest in four months amid the strong US dollar index and firmer equities.
    • The week concluded with the yellow metal trading at Rs.2,927 per gram on the 10th with an increase in local demand by industries and jewellers despite the poor trends overseas.

    December 2017 - Week 2 (11th to 17th)

    • The second week commenced with the precious metal trading as low as Rs.2,911 per gram on the 11th with investors and stockists refraining themselves from purchases ahead of the upcoming Federal Reserve meeting.
    • Gold price in Visakhapatnam were recorded at Rs.2,908 per gram on the 12th before dropping to Rs.2,906 per gram the next day amid the weak trends overseas.
    • However, the interest rate hike by the Fed Reserve seemed to have a negative impact on the US dollar. This led to an increase in demand for the safe-haven metal and gold being priced at Rs.2,929 per gram on the 14th.
    • When the week came to an end, the yellow metal prices had stabilised at Rs.2,927 per gram on the 14th owing to a stable demand from local jewellers, industries and retailers amid the positive overseas trends.

    December 2017 - Week 3 (18th to 24th)

    • Gold was priced at Rs.2,922 per gram when the week began on the 18th.
    • Gold price in Visakhapatnam rose to Rs.2,933 per gram on the 19th despite the strong dollar dollar rates and equity markets. This rise in rates can be attributed to the increase in domestic demand from local jewellers and retailers amid the ongoing wedding season.
    • Though gold rates dropped to Rs.2,931 per gram on the 20th, prices rebounded to Rs.2,937 per gram on the 22nd with the US dollar losing against other apex currencies.
    • Prices rose to Rs.2,956 per gram on th4e 23rd with stockist and investors speculating over the final result of the tax overhaul on the country’s economic growth.
    • Strong global as well as domestic demand amid the positive overseas trends led to gold rates holding steady at Rs.2,956 per gram for the rest of the week.

    December 2017 - Week 4 (25th to 31st)

    • When the last week commenced, the yellow metal was trading at Rs.2,945 per gram on the 25th.
    • Thanks to a positive trend overseas, demand for the metal surged. This led to gold prices rising to Rs.2,957 per gram on the 26th.
    • On the 27th, rates surged to Rs.2,964 per gram following a decline in the US dollar coupled with the poorly performing equities market.
    • With global demand for the metal touching near one-month highs, gold price in Visakhapatnam surged further to Rs.2,985 per gram on the 28th.
    • Rates rose marginally to Rs.2,988 per gram on the 29th before stabilising at Rs.3,015 per gram on the 30th amid the continued political tensions between the US and North Korea.
    • The bullion was recorded trading at Rs.3,015 per gram on the 31st with Visakhapatnam registering a profit of 1.10% in gold trade during the course of the month.

    Trend of Gold Rate in Visakhapatnam for November 2017 (rates per gram for 24 karat gold)

    Parameters Gold Price(24 karat)
    Gold rate on 1st November 2017 Rs.2,974 per gram
    Gold rate on 30th November 2017 Rs.2,996 per gram
    Highest Rate in November Rs.3,030 per gram 18 to 20 November
    Lowest Rate in November Rs.2,974 per gram on 1 and 6 November
    Overall Monthly Performance Incline
    Percentage Change 0.73%

    November 2017 - Week 1 (1st - 5th)

    • The gold price began with a declining trend on the first day of the week in Visakhapatnam. The metal traded at Rs.2,974.
    • The price was marginally up on the second day since the USD slightly dropped against the INR and the commodity was priced at Rs.2,987 per gram.
    • Gold rates in Visakhapatnam dropped to Rs.2,983 because of a slowdown in domestic demand from investors and jewellers.
    • The gold price in Visakhapatnam variations for the entire week can be attributed to the fluctuations in the exchange rate of the USD against the INR.
    • At the time of closing on 5 November, the price of the commodity was recorded at Rs.2,977.

    November 2017 - Week 2 (6th - 12th)

    • When the second week of November began on 6, gold traded at Rs.2,974 per gram.
    • Gold price in Visakhapatnam jumped to Rs.2,997 per gram on 7 November as domestic demand increased amid positive global cues.
    • The price of gold continued to move up on 08 November and reached Rs.3,005 as demand continued to climb.
    • With the dollar index remaining volatile against a basket of other currencies, gold rate in Visakhapatnam surged to Rs.3,015 per gram on 10 November.
    • Demand remained steady over the next two days, and the yellow metal continued to trade at Rs.3,015 per gram till the end of the week.

    November 2017 - Week 3 (13th-19th)

    • Gold opened at Rs.3,007 on 13 November and witnessed a falling trend.
    • The price further grew to Rs.3,012 since the demand for the commodity was marginally up.
    • Over the next two days, gold price in Visakhapatnam were stable at Rs.3,018 per gram because of steady demand and the USD/INR exchange rate.
    • The commodity was priced at Rs.3,030 at the end of the third week.

    November 2017 - Week 4 (20th-26th)

    • The last week began with a constant trend where the commodity was sold at Rs.3,030 per gram on 20 November with the USD continuing to dominate apex currencies.
    • Since the USD gained against the INR, gold rate in Visakhapatnam fell to Rs.3,004 per gram on 21 November and further fell to Rs.2,996 the next day.
    • A strong global trend pushed the commodity rate to Rs.3,015 per gram and remained the same on 24 November.
    • An uneven demand for the yellow metal caused the price to fall down to Rs.3,004 per gram for the rest of the week.

    November 2017 - Week 5 (27th-30th)

    • The final week commenced with the precious metal trading at Rs.3,013 on 27 November amid strong global trends.
    • However, on 28 November, prices declined to Rs.3,009 per gram after Trump’s tax reform plan was produced in the US Senate.
    • Though gold price in Visakhapatnam recovered to Rs.3,011 per gram on 29 November, strong dollar rates coupled with firmer equities market led to the bullion prices plunging to Rs.2,996 per gram on the last day.

    Why is it important to track gold price in Visakhapatnam

    The basic rule of investing is that you also what you are investing in and why you are doing so. And the same is true with the case of gold as well. Whether you want to buy gold in Visakhapatnam or in any other city, you need to know what is happening in the market or how the precious metal is performing. Gold prices are never constant and as such keeps fluctuating based on a number of local and international factors. Sometimes, a rise in demand can also contribute to a rise in demand. For instance, during the many wedding seasons you see over the course of a year, gold prices will be on the higher side. This is because there’s more activity, albeit in the retail side of the business, as more people are looking to purchase the metal. If you are an investor, you have all the more reason to know how good or bad a metal is performing. Choose the right time and use the most used strategy of buying on a low and selling when its peaking idea if you are to make a good gain in the process.

    What are the popular gold jewellery stores in Visakhapatnam?

    Being in the southern part of India where a lot of gold is consumed, Visakhapatnam is home to hundreds of jewellery stores. Some of the most popular ones include Khazana Jewellers - a store with a widespread presence in all five state of South India. Jos Alukkas - owned by one of the Alukkas - this store has seen a significant rise in number over the last decade or so. Again, this store also has a massive presence in Karnataka, Telangana, Andhra Pradesh, Tamil Nadu, and Kerala. Malabar Gold and Diamonds - a Kerala-based business is another popular jeweller in the city that jewellery enthusiasts can visit. Besides this there are other jewellers like Lalithaa Jewellery, Vaibhav Jewellers, Hira Panna Jewellers, who are known among gold buyers in the city.

    Gold as an Investment in Visakhapatnam

    Jewelry - Jewelry in Vizag forms the major component of the overall demand for gold in the city owing to the tradition of buying the yellow metal during auspicious occasions. Most consider gold a safe investment. India's gold jewelry demand increased by 8 percent despite stricter import rules (some rules were done away with during the latter part of 2014).

    Coin - According to experts, gold coins have lesser premium and can be redeemed at the market price during selling. Many investors buy gold coins from reputed jeweler owing to no risk of impurity. While banks sell gold, they don’t buy back coins even as a pledge. Post offices and non-bank financial agencies also sell gold coins. Consumers have to pay a VAT @ 1%.

    Gold ETFs - One unit of ETF is equal to 1 gram of gold. Exchange Traded Funds (ETF) are like mutual funds that invest in gold. ETFs are gaining increasing popularity across the country owing to high liquidity, ease of investing (traded on the stock exchange) among many others. Also, there is no wealth tax involved which makes it an attractive investment option.

    How to invest in gold in Visakhapatnam

    Visakhapatnam, being one of the most popular cities in South India, offers plenty of opportunities for all sorts of gold investors: whether it is the large jewellery-buying consumers or for the investment-oriented companies. People can invest in a range of assets like gold coins, jewellery, gold bullions (bricks), and gold ETFs.

    Opting for a Gold Loan In Visakhapatnam

    While taking a loan against assets has been prevalent in India for a long time, opting for finance through gold is the most popular one. Up until recently taking a gold loan was a major hurdle because one would have been left under the mercy of a local jewellery banker, who would offer rates based on a whim on the actual price of gold. However, as the gold industry has developed there are plenty of national and local entities, who take up gold of the current day’s rates and offer you a loan amount you are looking for. You will of course be required to pay interest rates and the principal for a given point of time before getting your jewellery back.

    Everything about taxes on gold in Visakhapatnam

    Taxing on gold remains largely the same across all states of the country, hence there’s very little change to expect in Visakhapatnam. To start, gold owners are liable to pay income tax depending on their situations. For instance, if you sell your gold, the profit you make is taxable under the ‘Capital Gains’ component of ITD. Jewellers dealers are also liable to pay taxes, which they should pay under the ‘Profits and gains of business or profession’. The actual tax amount payable differs based on a few factors. These involve:

    • Short Term capital asset: Gold is considered to be a short-term capital asset, if you buy the jewellery and sell it within 36 months.
    • Long term capital asset: If you keep gold for longer than 36 months and then sell it later, your gold is considered a long-term capital asset.

    While short term gains on gold are taxed based on the tax slab you fall under, long term gains will be taxed at 20%, which is exclusive of any other cess that the government levies.

    In case, you have lost money by selling you gold, it is considered as a capital loss and you are required to mention the same while filing your Income Tax returns.

    Also Check Petrol Price and Diesel Price in Visakhapatnam

    News About Visakhapatnam Gold Rate

    • Prices of gold hit record highs in India on 13 April 2020

      Gold futures prices in India hit record highs on 13 April 2020 due to prices increasing in the international markets. The prices of gold increased even though physical buying was closed due to the lockdown.

      Gold futures prices for the month of June on MCX increased by 1% and hit record highs of Rs.45,800 for 10 grams. Gold rates in India are inclusive of 3% GST and 12.5% import duty. In the international markets, the prices of gold were flat on 13 April 2020. However, gold rates managed to maintain a one-month high. The prices of gold were supported due to several measures that were introduced by the US Federal Reserve because of the coronavirus outbreak. Spot gold prices in the international markets were flat at $1,686.82 for an ounce. In order to help small and mid-sized businesses and the local governments, the US Federal Reserve announced a stimulus package. The demand for investment in gold has increased. Buying physical demand in gold gas remained suspended in India due to the lockdown. Due to the uncertainty of the extension of the lockdown, no orders are being allowed to be placed in May as well.

      13 April 2020

    • Prices of gold increase after falling by Rs.5,000 in 5 days

      In India, the prices of gold were flat on 17 March 2020 after a sharp decrease over the last few sessions. Gold futures prices on MCX for the month of April increased by 0.13% and are at Rs.39,570 for 10 grams.

      In the previous session, the prices of gold fell by Rs.850 for 10 grams. On 13 March 2020, the prices of gold fell by Rs.1,800 for 10 grams. Gold rates in the international markets also reduced on 13 March 2020. Over the past five sessions, the prices of gold have fallen by Rs.5,000 for 10 grams decreasing from Rs.44,500 to Rs.39,500. In times of turmoil in the financial markets, gold is usually considered as a safe haven. However, the recent coronavirus outbreak has ensured that the prices of gold have fallen. In the international markets, the prices of gold edged lower due to the coronavirus pandemic. Spot gold prices reduced by 0.2% and at $1,511.30 for an ounce. In the previous session, the prices of gold fell by 5%. Wall Street stocks hit its lowest since 1987 once the US President warned of a recession. The markets in Asia were mixed on 17 March 2020. However, most analysts remain positive about gold even after the price correction.

      17 March 2020

    • Gold prices show a spike in price due to increased safe-haven demand

      Gold futures increased by almost 1% on Monday due to increased safe-haven demand amongst investors. This was due to escalating concerns of the Coronavirus outbreak in the world. The virus has spread significantly outside of China as well as affecting the economic growth to a great extent.

      Gold futures for April were trading at 0.87% higher at Rs.43,037 per 10 grams on the Multi Commodity Exchange. Silver futures for April delivery were at Rs.48,615 per kg on the MCX. According to SMC global, the bullion can hold on to its upward trend amidst growing features of the Coronavirus in the world. Banks have also prepared to ease on its measures to help the weak economy. Gold’s safe-haven demand has pushed its prices much higher since the previous month.

      According to data, the virus has been rapidly spreading outside of quarantined China with cases hitting 763 in South Korea and 8 deaths. The number of cases has hit 150 in Italy and Iran who had reported two cases last week have already had 43 confirmed cases and 8 deaths till date.

      In the global market, the price of the metal has increased by more than 2% since February 2013 due to the effect of the virus on the economy. Spot gold was priced at 1.1% higher at $1,661.86 per ounce and U.S. gold futures increasing by 1% to $1,664.60 per ounce.

      24 February 2020

    • Gold prices were on an upward curve due to concerns regarding coronavirus

      On Friday, India Gold April Futures were trading higher as fears regarding coronavirus and its economic impact fuelled safe-haven buying. On the Multi Commodity Exchange (MCX), April gold contracts were trading at Rs.40,435 per 10 grams after increasing by Rs.84 or 0.21 percent. As per reports, China’s move to cut tariffs on some US imports also helped matters as it sent global stock markets higher in the previous session. Experts believe that escalating fears with regard to coronavirus will keep the interest alive and push the prices towards Rs.40,500 in the coming days.

      7 February 2020

    • Gold rates dip by Rs.121 while silver plunges by Rs.520

      The appreciation of the rupee and subdued demand has led to the slippage in the prices of gold. The price of the yellow metal dipped by Rs.121 to reach Rs.39,119 per 10 gram in Mumbai’s bullion market. In terms of rupee gold prices ended 2019 with 23.74% gain while in terms of dollars, there was a gain of 19%. In dollar terms, this was the second-best performance by gold in 10 years after 2010. In Mumbai, the price of 10 grams of 22-carat gold was recorded at Rs.35,833 plus 3% GST while for 10 grams of 24-carat gold, the price was Rs.39,119 plus GST. In the retail market, the price of 18-carat gold was recorded at Rs.29,339 plus GST. In the meantime, prices of silver witnessed gains of Rs.535 to reach Rs.46,665 per kg on 30 December from its closing. Silver ended 2019 with 22.02% gain. The Vice President of Mumbai Jewellers Association has stated that gold may continue its bullish trend and rates may hit Rs.40,000 to Rs.41,000 in January.

      3 January 2020

    • Prices of gold reduce sharply on 2 December 2019

      Following a decline in prices in the international market, the prices of gold reduced in India on 2 December 2019. On MCX, gold futures prices reduced by 0.4% and hit Rs.37,878 for 10 grams.

      Over the last 10 days, the prices of gold have reduced on 8 days. Gold futures prices for February reduced by 0.37% and hit Rs.37,863 for 10 grams. Following the latest price drop, gold prices have reduced by about Rs.2,100 since hitting record highs of Rs.40,000 in September. In the international market, prices of gold reduced by 0.3% and hit $1,461.15 for an ounce. The better-than-expected factory data in China was the main reason why gold prices reduced. Despite reports that the trade deal between China and the US had stalled due to the Hong Kong legislation, the prices of gold gained. According to another report, the top priority of China in ‘Phase 1’ of the trade deal would be the removal of tariffs. According to Reliance Commodities, prices of gold is expected to trade between Rs.37,650 and Rs.38,100 in the short-term. According to Reuters, the reduction in gold prices has seen a restocking by jewellers in the country. However, the retail demand for gold has been low. Prices of gold in India are inclusive a 3% GST and a 12.5% import tax.

      3 December 2019

    • Gold prices increase after a sharp fall

      Gold prices increased in India on 4 November 2019 despite a weak trend in the international market. Gold futures prices increased by 0.22% on MCX and hit Rs.38,396 for 10 grams. In the previous session, gold prices decreased by Rs.263.

      Silver futures prices also followed gold and increased by 0.5% and hit Rs.46,622 for a kg on MCX. In the international market, gold prices decreased on 4 November 2019 because of the optimism that the trade deal between China and the US would be signed in November. The pressure was added to gold because of the strong economic data from China and the US. Even though gold prices have increased after hitting recent lows of $1,480 for an ounce, it has not increased past $1,520. According to a report by Kotak Securities, even though gold prices have increased, it has stayed between $1,480 and $1,520. In order to result in gains, the prices of gold must be more than $1,520. Any fall in the US dollar results in gold prices decreasing in other countries. Therefore, this helps in increasing demand. In India, the demand for gold has decreased since the prices have increased by nearly 20% this year. According to a report from Reuters, discounts of $6 for an ounce were provided by dealers last week. A discount of $4 for an ounce was provided the previous week.

      6 November 2019

    • Prices of gold falls Rs.1,800 from last month’s high

      The prices of gold edged lower, while the prices of gold futures on MCX fell 0.13% to Rs.38,170 per 10 gram after rising 0.45% in Wednesday's trade.

      The price of silver also dropped 0.45% to Rs.45,090. Gold prices had hit a new high of Rs.40,000 last month, as gold’s global prices had hit a record high, going above $1,550 an ounce.

      The prices of spot gold were down 0.2% at $1,489.02 an ounce, while U.S. gold futures dropped 0.4% to $1,492.50.

      U.S. data also showed the retail sales dropping for the first time in seven months, which clearly suggested that weakness showed by manufacturing can spread to the broader economy. The industrial output for the last month also fell.

      However, it is suggested that weak set of data may compel US Federal Reserve to cut interest rates at its meeting later this month. It is expected that the global prices of gold to rise following the trade tensions between U.S and China.

      The gold traders will closely monitor the progress at a European Union (EU) leaders' two-day summit in Brussels to seal a deal on Britain's exit from EU.

      SPDR Gold Trust GLD, the world's largest gold-backed ETF, dropped 0.16% to 918.19 tonnes on Wednesday, from 919.66 tonnes on Tuesday.

      21 October 2019

    • Gold Prices Drop On Choppy Overseas Trends

      Gold prices in India continued to struggle as overseas trends were weak, with gold futures falling 0.24% to Rs.37,740 for 10 grams on the Multi Commodity Exchange (MCX).

      Prices have been on the decline after hitting historic highs earlier in the month, as equities have rebounded and the dollar has strengthened. Global demand for bullion has also seen a steady decline, with spot gold trading at $1,506.25 per ounce after reaching $1,550 per ounce earlier in the month.

      However the upcoming festive season and geopolitical uncertainty have supported bullion offtake, with jewellers increasing orders. Political turmoil in Washington and the expectation of further reductions in key U.S. interest rates could also bolster demand for gold.

      27 September 2019

    • Gold Prices Continue Their Slide, Silver Also Drops

      Gold prices continued their decline, with losses extending to the third consecutive day. Gold futures on the MCX dropped by 0.66% to Rs.37,600 for 10 grams as global fluctuations impacted local rates.

      Global volatility in bullion prices and a fluctuating rupee have resulted in choppy waters for gold and silver, with both seeing sharp swings in prices.

      On the international market, gold traded marginally lower at $1,492.15 per ounce after reaching highs of $1,550 per ounce earlier this month.

      Fears over the economic impact of the U.S.-China trade war had bolstered demand for bullion, but an easing in trade war rhetoric has stemmed demand for gold.

      The U.S. Federal Reserve cut interest rates by 25 basis points earlier this week, which generally boosts bullion demand. However, mixed signals from the Fed on future easing measures kept investors cautious.

      19 September 2019

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