Gold Rate In West Bengal

  • Today's Gold Rate in West Bengal ( 27 Oct 2021 )

    ₹ 4,680
    Today's Gold Rate (22K) per gram

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

    Today
    Yesterday
    Rate Change
    Standard Gold (22 K) ( 1 gram ) ₹ 4,680 ₹ 4,660 ₹ 20 ↑
    Standard Gold (22 K) ( 8 grams ) ₹ 37,440 ₹ 37,280 ₹ 160 ↑
    Pure Gold (24 K) ( 1 gram ) ₹ 4,914 ₹ 4,893 ₹ 21 ↑
    Pure Gold (24 K) ( 8 grams ) ₹ 39,312 ₹ 39,144 ₹ 168 ↑

    Daily Gold Rates

    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    26 Oct 2021 ₹ 4,680 ₹ 37,440 ₹ 4,914 ₹ 39,312
    25 Oct 2021 ₹ 4,660 ₹ 37,280 ₹ 4,893 ₹ 39,144
    24 Oct 2021 ₹ 4,650 ₹ 37,200 ₹ 4,883 ₹ 39,064
    23 Oct 2021 ₹ 4,650 ₹ 37,200 ₹ 4,883 ₹ 39,064
    22 Oct 2021 ₹ 4,630 ₹ 37,040 ₹ 4,862 ₹ 38,896
    21 Oct 2021 ₹ 4,630 ₹ 37,040 ₹ 4,862 ₹ 38,896
    20 Oct 2021 ₹ 4,620 ₹ 36,960 ₹ 4,851 ₹ 38,808
    19 Oct 2021 ₹ 4,605 ₹ 36,840 ₹ 4,835 ₹ 38,680
    18 Oct 2021 ₹ 4,605 ₹ 36,840 ₹ 4,835 ₹ 38,680
    17 Oct 2021 ₹ 4,595 ₹ 36,760 ₹ 4,825 ₹ 38,600

    Weekly & Monthly Graph of Gold Rate in West Bengal

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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 Rate in West Bengal

    West Bengal is the fourth-most populous state in India, with more than 91 million people. It is an ethno-linguistic state with a proud history of kingdoms and empires that have contributed significantly to the country’s glorious past. As such, the demand for gold in the state is constantly increasing as people make purchases on a consistent basis when there are festivals. Since gold is considered a part of the cultural and traditional heritage of West Bengal, dealers in the state are never short of supply to meet the never-ending demand.

    Gold Rate Trend in West Bengal for April 2021 to June 2021 (per gram of 24 karat gold)

    Factor January February March
    1st Day Rs.5,068 per gram Rs.5,104 per gram Rs.4,818 per gram
    Last Day Rs.5,103 per gram Rs.4,863 per gram Rs.4,667 per gram
    Highest Price Rs.5,801 per gram on 30 January Rs.5,104 per gram on 1 February Rs.4,835 per gram on 2 March
    Lowest Price Rs.4,948 per gram on 17 January Rs.4,545 per gram on 20 February Rs.4,428 per gram on 20 March
    Trend Incline Decline Decline
    Change 0.69% 3.01% 3.13%

    Quarterly Gold Rate in West Bengal from January to March 2021:

    • The prices of gold in West Bengal on 1 January 2021 and 31 January 2021 were at Rs.5,068 per gram and Rs.4,998 per gram, respectively. Overall, gold rates inclined by 0.69% over the course of the month in the city. The lowest and highest prices that the yellow metal hit for the month was on 17 January and 30 January and were at Rs.4,948 for a gram and Rs.5,801 per gram, respectively.
    • Gold prices in West Bengal started off at the rate of Rs.5,104 per gram. Gold rates in West Bengal started witnessing a declining trend during the second half of the month and it closed the month at the lowest recorded rate for the month wherein it stood at the rate of Rs.4,545 per gram.
    • In March, the rates of the yellow metal had declined by 3.13%. The highest and lowest rates that the yellow metal hit for the month were Rs.4,835 per gram and Rs.4,428 per gram.

    Gold Rate Trend in West Bengal for January 2021 to March 2021 (per gram of 24 karat gold)

    Factor January February March
    1st Day Rs.5,068 per gram Rs.5,104 per gram Rs.4,818 per gram
    Last Day Rs.5,103 per gram Rs.4,863 per gram Rs.4,667 per gram
    Highest Price Rs.5,801 per gram on 30 January Rs.5,104 per gram on 1 February Rs.4,835 per gram on 2 March
    Lowest Price Rs.4,948 per gram on 17 January Rs.4,545 per gram on 20 February Rs.4,428 per gram on 20 March
    Trend Incline Decline Decline
    Change 0.69% 3.01% 3.13%

    Quarterly Gold Rate in West Bengal from January to March 2021:

    • The prices of gold in West Bengal on 1 January 2021 and 31 January 2021 were at Rs.5,068 per gram and Rs.4,998 per gram, respectively. Overall, gold rates inclined by 0.69% over the course of the month in the city. The lowest and highest prices that the yellow metal hit for the month was on 17 January and 30 January and were at Rs.4,948 for a gram and Rs.5,801 per gram, respectively.
    • Gold prices in West Bengal started off at the rate of Rs.5,104 per gram. Gold rates in West Bengal started witnessing a declining trend during the second half of the month and it closed the month at the lowest recorded rate for the month wherein it stood at the rate of Rs.4,545 per gram.
    • In March, the rates of the yellow metal had declined by 3.13%. The highest and lowest rates that the yellow metal hit for the month were Rs.4,835 per gram and Rs.4,428 per gram.

    Gold Rate Trend in West Bengal for October 2020 to December 2020 (per gram of 24 karat gold)

    Factor October November December
    1st Day Rs.5,265 per gram Rs.5,253 per gram Rs.5,104 per gram
    Last Day Rs.5,252 per gram Rs.5,203 per gram Rs.5,216 per gram
    Highest Price Rs.5,328 per gram on 13 October Rs.5,444 per gram on 19 November Rs.5,219 per gram on 23 December
    Lowest Price Rs.5,131 per gram on 18 October Rs.5,201 per gram on 28 November Rs.5,052 per gram on 2 December
    Trend Decline Decline Incline
    Change -0.24% -0.95% 2.14%

    Quarterly Gold Rate in West Bengal from October 2020 to December 2020:

    • Gold prices for 24 karat on the first day of October in West Bengal stood at Rs.5,265 per gram for 24 karat and was Rs.5,252 per gram on the last of the month. There was a negative trend in gold prices through the month at –0.24%. The highest price was Rs.5,328 per gram on 13 October which soon dipped to the lowest price for the month at Rs.5,131 per gram on 18 October.
    • In November, the gold rate in West Bengal stood at Rs.5,253 per gram for 24 karat and quickly rose to the highest price in the month on 19 November at Rs.5,444 per gram. The lowest price for the yellow metal was on 28 November at Rs.5,201 per gram. On the last day of the month, the price of gold stood at Rs.5,203 per gram, leading to an overall decline in the percentage of gold prices to –0.95% throughout the month.
    • Gold prices in December in West Bengal for 24 karat fared better than the previous two months with an overall incline in prices with a percentage change of 2.14%. The price of gold on the first day of December stood at Rs.5,104 per gram while it increased to Rs.5,216 per gram by the last day of the month. The highest price was on 23 December at Rs.5,219 per gram while the lowest price was Rs.5,052 per gram on 2 December.

    Gold Rate Trend in West Bengal for July 2020 to September 2020 (per gram of 24 karat gold)

    Factor July August September
    1st Day Rs.4,895 per gram Rs.5,381 per gram Rs.5,293 per gram
    Last Day Rs.5,313 per gram Rs.5,313 per gram Rs.5,242 per gram
    Highest Price Rs.5,313 per gram on 31 July Rs.5,652 per gram on 10 August Rs.5,399 per gram on 9 September
    Lowest Price Rs.4,856 per gram on 5 July Rs.5,283 per gram on 29 August Rs.5,157 per gram on 29 September
    Trend Incline Decline Decline
    Change 8.53% -1.26% -0.96%

    Gold Rate Trend in West Bengal for April 2020 to June 2020 (per gram of 24 karat gold)

    Factor April May June
    1st Day Rs.4,263 per gram Rs.4,681 per gram Rs.4,722 per gram
    Last Day Rs.4,731 per gram Rs.4,712 per gram Rs.4,895 per gram
    Highest Price Rs.4,800 per gram on 27 April Rs.4,909 per gram on 26 May and 27 May Rs.4,972 per gram on 20 June
    Lowest Price Rs.4,263 per gram from 1 April to 5 April Rs.4,620 per gram on 9 May Rs.4,711 per gram on 9 June
    Trend Incline Incline Incline
    Change 10.9% 0.66% 3.6%

    Quarterly Gold Rate in West Bengal from April to June:

    • On 1 April 2020, the price of gold in West Bengal was at Rs.4,263 per gram. On 30 April 2020, the price of gold was at Rs.4,731 per gram. This was also the highest rate that gold hit for the month. Overall, gold prices in West Bengal saw a 10.9% increase in its rates for the month.
    • Gold opened at the rate of Rs.4,681 per gram for 24 karats in the month of May in West Bengal. The last week of the month witnessed the prices going up and down again due to the various political and economic factors which played a direct role. Despite the uncertainty regarding the rise and drop in gold prices, the yellow metal touched its highest rate on 26 May and 27 May at Rs.4,909.
    • The price of the metal opened the month of June at Rs.4,722 per gram and showed an overall declining trend with risk appetite amongst investors increasing. The metal closed the month at Rs.4,895 per gram on 30 June with an overall percentage incline of 3.6%.

    Gold Rate Trend in West Bengal for January 2020 to March 2020 (per gram of 24 karat gold)

    Factor January February March
    1st Day Rs.4,027 per gram Rs.4,199 per gram Rs.4,274 per gram
    Last Day Rs.4,199 per gram Rs.4,377 per gram Rs.4,253 per gram
    Highest Price Rs.4,251 per gram on 9 January Rs.4,436 per gram on 25 February Rs.4,536 per gram on 7 March
    Lowest Price Rs.4,027 per gram on 1 January Rs.4,160 per gram on 7 February Rs.4,111 per gram on 20 March 2020
    Trend Incline Incline Decline
    Change 4.27% 4.23% -0.49%

    Quarterly Gold Rate in West Bengal from January 2020 to March 2020:

    • Opening the month and year at Rs.4,027 per gram, gold prices in West Bengal showed an overall incline for the month. The lowest price of the gold was its opening price at Rs.4,027 per gram and increased through the rest of the month with increasing speculations on the trade deal between China and the United States of America and the rising tensions between the United States of America and the Middle East. The metal hit its highest price of the month on 9 January at Rs.4,251 per gram on 9 January. Investors shifted to the bullion market amidst a higher safe-haven appeal of the metal. By 15 January, the price of the metal was at Rs.4,074 per gram with the minimal rise in prices. However, in the third and the last week of the month, gold prices surged to a great extent and by 22 January, the price of gold had hit Rs.4,153 per gram. Closing the month at Rs.4,199 per gram, gold in the month of January recorded an overall incline of 4.27.
    • February proved to be a positive month for the traders invested in the bullion market. Opening the month at Rs.4,199 per gram on 1 February, the price of the metal hit its lowest price for the month in the first week at Rs.4,160 per gram on 7 February. The metal’s prices showed an incline in prices after the second week of the month when the virus, COVID-19 was affecting many people in China on a daily basis. With the country on lockdown, trade was hampered to a great extent which prompted investors to shift to the bullion market due to higher safe-haven appeal. By the middle of the month, the precious metal was valued at Rs.4,212 per gram on 15 February. In the last week of the month, the price of gold increased due to a rise in the number of cases all over the world. The metal hit its highest price of the month at Rs.4,436 per gram on 25 February, closing at Rs.4,377 per gram with a percentage incline of 4.23.
    • In the month of March, the price of the metal showed a gradual decline due to the outbreak of the novel pandemic, COVID-19 all over the world. Affecting not only lives but also the economy, the virus resulted in lockdowns in many countries all over the world disabling all trade to and from nations. Opening the month at Rs.4,274 per gram, the price of the metal hit its highest price of the month on 7 March at Rs.4,536 per gram with investors awaiting a rate cut by the United States Federal Reserve. The price of the metal fluctuated heavily in the second week of the month due to mixed trends in the economy, with the value of the dollar increasing and affecting gold prices. However, poor job data from the U.S. limited the losses of the metal. At the end of the month, the price of the metal held steady since major bullion trading centres in the country were shut due to the government-imposed lockdowns. After hitting its monthly low on 20 March at Rs.4,111 per gram, the metal closed at Rs.4,253 per gram on 31 March with a percentage decline of 0.49.

    Also Check Gold Price in Metro Cities

    Gold Investment Avenues in West Bengal

    West Bengal has multiple options for investors who wish to purchase gold. Following are the most common forms that buyers can choose from based on their unique investment requirements.

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    Market trade: E-Gold, future contracts and ETFs (Exchange Trade Funds) are the most popular opportunities so far as gold trading is concerned. Most investors choose ETFs as they not only provide good returns, but can also be traded on the Mumbai Stock Exchange. Future contracts are also attractive offers for investors to consider as they provide protection against market fluctuations and buyers have the option of taking possession of their purchase on a predetermined date. E-Gold is mainly purchased by investors who don’t really want to take possession of the metal, but rather sell it at a later date for a profit. E-Gold may be bought and sold via the National Spot Exchange Limited and investors are afforded the option of physically owing the metal should they prefer to do so.

    Over-the-counter: A large number of gold investors in West Bengal prefer to buy gold in the form of jewellery, coins and bullions. Gold coins and bullions can be purchased from major dealers and banks across the state, but local prices are often dictated by international rates. Majority of the investors generally choose to purchase from local dealers instead of banks because the prices charged by dealers are significantly less. Banks charge slightly more than dealers because of quality assurance.

    Also Check Gold Prices in the Cities of West Bengal

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    News About Gold Rate in West Bengal

    • Gold futures prices jump slightly on 8 September 2021

      Gold futures prices on MCX in India jumped slightly on 8 September and were at Rs.46,980 for 10 grams. In the last session, the prices of the yellow metal fell by around 1%. The main reason for the fall in prices was a weak trend in the international markets. In the international markets, the prices of gold were below $1,800 for an ounce. Spot gold prices traded flat and were at $1,796.03 for an ounce. In the previous session, spot gold prices fell to $1,791.90 for an ounce.

      8 September 2021

    • Gold Prices on 3 August 2021

      The price of 10 grams of 22-carat gold remained steady at Rs.47,380 on Tuesday, 3 August 2021. The price of 24-carat gold on Tuesday stood at Rs.48,380 per 10 grams. In Mumbai, the yellow metal was priced at Rs.47,380 while in Delhi, it retailed for Rs.47,150 per 10 grams. Lastly, in Chennai gold was priced at Rs.45,360.

      4 August 2021

    • Gold edges higher while silver slips to below Rs.69,000

      Spot gold was priced at Rs.48,324 while silver was priced at Rs.69,042 in the high-purity spot gold markets today. There was an increase of 0.2% for spot gold to settle at $1,805.39 per ounce. Silver remained steady at $25.89 per ounce which was a prospective loss for the week. Palladium decreased by 0.1% to settle at $2,803.26 while platinum increased by 0.2% to settle at $1,077.15.

      12 July 2021

    • Gold price slips to one-month low on Thursday

      On Thursday, the price of gold slipped in the Multi Commodity Exchange (MCX) and stood at Rs.47,799 for every 10 grams. The decline meant that the price of the yellow metal fell to a one-month low. In the international market, gold rate dropped by more than one percent on Wednesday after the Federal Reserve indicated that interest rates could be hiked sooner than expected. Silver price on the MCX also witnessed a significant decline. July silver futures were trading at Rs.70,332 per kilogram.

      17 June 2021

    • Gold trade higher on Tuesday

      On Tuesday, India gold was trading higher on the Multi Commodity Exchange (MCX) after tracking the positive trend in the international spot prices. Spot gold was trading around $1,911.45 per ounce. It had hit its highest price since January 8 in the previous session. On the MCX, August gold contracts were trading higher at Rs 49,483 for every 10 grams after recording an increase of 0.27 percent. At MCX, Gold has a support at 49180-48950 and resistance at 49580-49800 levels. It needs to be mentioned here that international spot gold price started flat to higher in Asian trade as U.S Dollar extended losses.

      1 June 2021

    • Gold prices increase in the national capital on 6 May due to a weak dollar

      Gold rates in the national capital jumped on 6 May 2021 due to a weak dollar. Gold futures prices for the month of June on MCX jumped by 0.20% and were at Rs.47,092 for 10 grams. According to the Indian Bullion and Jewellers Association, gold prices in the stock market were sold at Rs.46,753 for 10 grams. In the international markets, spot gold prices fell by 0.1% and were at $1,785.05 for an ounce. Gold futures prices in the US were steady and were at $1,785.10 for an ounce.

      7 May 2021

    • Gold prices show a flat trend; trades with a positive bias due to rising COVID-19 cases

      Gold rates were trading flat in the domestic market with a positive bias on 19 April 2021 after a positive trend was seen in the international market. Gold contracts for June delivery on the Multi Commodity Exchange were trading higher at Rs.47,385 per 10 grams after increasing by 0.07%. Silver futures for May delivery were trading lower by 0.63% at Rs.68,250 per kg.

      Gold prices in the international market were nearing a high in over 7 weeks due to a weaker dollar value and lower U.S. Treasury yields.

      20 April 2021

    • Gold rate struggle in India on 1 April 2021

      Post a sharp rise in the last session, gold rates struggled in the Indian markets on 1 April 2021. Gold futures prices for the month of June on MCX traded flat and were at Rs.44,977 for 10 grams. In the last session, the prices of the yellow metal jumped by nearly 0.9%. Over the last three months, the prices of gold fell by around Rs.5,000 for 10 grams. In August 2020, gold rates hit record highs and were at Rs.56,200 per 10 grams. However, prices have fallen by nearly Rs.11,000 since then. In the international markets, spot gold prices jumped by 0.2% and were at $,1,710.28 for an ounce.

      2 April 2021

    • Gold prices fall flat ahead of U.S. Federal Reserve meeting

      Gold and silver prices in the domestic market were trading at a flat price on 17 March. Investors awaited the outcome of the meeting of the United States Federal Reserve on the economy.

      On the Multi Commodity Exchange, gold futures were trading marginally higher by 0.23% at Rs.44,917 per 10 grams and silver futures had inclined by Rs.13 to Rs.66,932 per kg. In the spot market, gold prices were recording marginal inclines by Rs.45 to Rs.44,481 per 10 grams. Silver prices also increased by more than Rs.100 to Rs.66,740 per kg.

      In the international market, gold prices were trading at $1,730.82 per ounce and U.S. gold futures had fallen marginally by 0.1% to $1,729.60 per ounce. Silver prices also recorded a decline by 0.7% to $25.77 per ounce.

      18 March 2021

    • Gold prices rise by Rs.241; silver prices increase by Rs.781

      Gold prices showed an incline by Rs.241 and were trading at Rs.45,520 per 10 grams in the domestic markets. In its previous session, the precious metal had closed at Rs.45,279 per 10 grams. Silver prices increased by Rs.781 to Rs.68,877 per kg compared to its previous closing price of Rs.68,096 per kg.

      According to sources, spot gold prices in Delhi for 24-karat gold increased by Rs.241 due to the recovery seen in the global price of the metal and rupee appreciation.

      In the international market, gold prices were trading stronger at $1,753 per ounce and silver was trading at $26.90 per ounce.

      2 March 2021

    • Yellow metal's value dips below the Rs.48,000 per 10-gram mark

      Gold futures for April delivery traded below the Rs.48,000 per 10-gram mark on 11 February on the Multi Commodity Exchange. The price of the metal declined due to a mute trend of the metal in the international market. Silver futures for March delivery was down by 1%.

      Gold contracts for April were down by 0.3% to Rs.47,864 per 10 grams and silver futures for March was trading at Rs.68,271 per kg, down by 0.95%. Both the metals showed a mixed trend in the domestic market after a mute trend in the international market with the U.S. government’s agenda to push another stimulus package for COVID-19 relief.

      In the international market, gold prices settled with a marginal incline at $1,842.70 per ounce and silver contracts for March were at $27.08 per ounce.

      12 February 2021

    • Union Budget 2021 announces cut in customs duty resulting in dip in gold prices

      In the Union Budget 2021 announced by Finance Minister Nirmala Sitharaman on 1 February 2021, the proposal to rationalise customs duty on gold and silver resulted in a heavy dip in gold prices. Currently, the import duty on gold is 12.5%. A cut in customs duty for gold and silver has been announced by the government, bringing it down to 7.5% from 12.5%. On the Multi Commodity Exchange (MCX), gold futures dipped by 3%, almost Rs.1,500 per 10 grams to settle at Rs.47918. Silver futures on the MCX traded higher by 5.5% to settle at Rs.73,508 per kg.

      2 February 2021

    • Gold rates remain flat on 5 January 2021 as the dollar recovers

      Due to a low demand in the global markets, gold futures prices for the month of February on MCX traded flat on 5 January 2021. Spot gold prices in the international markets fell and were at $1,938.11 for an ounce. Gold futures prices in the US fell by 0.3% and were at $1,941.40 for an ounce. Gold futures prices for the month of February on MCX fell by 0.04% and were at Rs.51,495 for 10 grams. Due to the spread of the coronavirus in the UK, gold prices jumped on 4 January 2021.

      7 January 2021

    • Gold prices fall on 11 December due to the delay in the US stimulus measures

      On 11 December 2020, gold prices reduced due to the uncertainty in the US stimulus packages. A weaker dollar also ensured that the prices of the yellow metal fell. Spot gold prices in the international markets fell by 0.1% and were at $1,833.70 for an ounce. Gold futures prices in the US were steady and were at $1,837.00 for an ounce. During times of currency debasement and inflation, gold is considered as a safe haven. Gold prices in India are inclusive of 3% GST and 12.5% import duty.

      15 December 2020

    • Gold price trades flat, silver rate rises to Rs.61,600

      The prices of gold traded slightly lower on Monday post flat movement for two consecutive sessions, due to weak global cues. However, the yellow metal continued to trade above Rs 50K mark in India as the investors were attracted by the safe-haven appeal of the metal amid rising coronavirus cases.

      Gold October Futures on the Multi Commodity Exchange-remained flat at Rs.50,700 after hitting an intraday high and low of Rs.50,612 and Rs.50,777, respectively.

      Silver September Futures traded at Rs.61,590 per kg, growing Rs.725.

      The price of gold dropped in global markets due to strong American currency and delay in an agreement on the US economic stimulus.

      Spot gold remained steady at $1,882.00 per ounce, while US gold futures traded at $1,882.90 per ounce. Silver, on the other hand, grew 1.2% to $23.92 per ounce.

      3 November 2020

    • Gold inches lower at Rs.50,000 range

      The Indian Gold MCX futures for December had dipped in spite of a positive trend that had been seen in the global spot rates. A few of the market analysts have said that the investors will buy the dip. They have also said that any dip in the price of the metal will be used as an opportunity to buy for a target of Rs.50,800 to Rs.51,000 for gold and for silver it is Rs.62.000 on silver. When it comes to the Multi-Commodity Exchange, the gold contracts for the month of December had traded lower by 0.11% and stood at Rs.50,489 per 10 gram. The December futures for silver had been trading by 0.19% higher and was at Rs.61,653 per kg.

      20 October 2020

    • Gold price cross the mark of Rs.51,000 for every 10 grams

      In the Mumbai retail market, the price of gold climbed by Rs.546 and was trading at Rs.51,044 for every 10 grams on the back of rupee depreciation and subdued global cues. Following today’s increase, the price of the bullion crossed the mark of Rs.51,000 after a period of 14 days. Spot gold was trading at $1,918.20 per ounce after increasing by $4.78. Gold holdings in SPDR ETF remained unchanged at 1275.60 tonne. The gold-to-silver ratio stands at 85.52 to 1. The ratio means the amount of silver required to buy one ounce of gold.

      6 October 2020

    • Gold prices drops by Rs.326 while silver stoops by Rs.945

      The price of gold has dropped by Rs.326 per 10 grams and now stands at Rs.52,423 for 10 grams. This was the rate in Delhi on Monday. Previously, the yellow metal came to a close at the rate of Rs.52,749 for every 10 grams.

      The price of silver also dropped down by Rs.945 for every kg. wherein it closed the day being traded at the rate of Rs.68,289 per kg. Earlier, it had closed at the rate of Rs.69,234 for every kg. In the meantime, the strength of Indian Rupee gained 7 paise against the USD and closed at Rs.73.38. This was the result even with the domestic equities plunging. In the international market, the precious yellow metal was being traded at $1,940 for an ounce. Silver, on the other hand, was being traded at the rate of $26.50 for every ounce.

      23 September 2020

    • Gold price surge; silver prices cross Rs.68,000 per kg levels

      Gold prices increased for the third straight day on 7 September as the value of gold and silver increased in the international market. The price of the metal in the international market at $1,940 per ounce and silver prices neared the $27 per ounce.

      On the Multi Commodity Exchange, gold futures for October increased marginally by Rs.68 to Rs.50,746 per 10 grams after hitting an intraday high of Rs.50,823 per 10 grams. Gold futures on the MCX had decreased by more than Rs.5,000 compared to its lifetime high at Rs.56,191 per 10 grams.

      Silver prices for September increased by Rs.851 to cross the Rs.68,000 per kg levels at Rs.68,117 per kg. Silver futures had hit its lifetime high on 7 August at Rs.77,949 per kg.

      11 September 2020

    • Gold sees support at Rs.50,800

      Gold prices had risen in spite of the muted trend in international spot gold rates. These had edged lower on a stronger U.S. dollar and hopes of a coronavirus treatment.

      On the MCX, the gold October contracts had been trading higher by 0.17% at Rs.51,358 per 10 gram. The silver September futures had been trading at Rs.66,030 per kg, up 0.7%. The U.S. dollar index had been firm near a more than one-week high hit last week.

      27 August 2020

    • Gold rate drops to Rs.50,000 per 10-gram levels; records a decline of Rs.4,500

      Gold prices recorded a substantial decline in the market as Russia announced registering the world’s first COVID-19 vaccine. Triggering a profit booking spree amongst investors, silver and gold prices suffered. The tensions between China and the United States of America increased after Beijing imposed sanctions on 11 US officials.

      On the Multi Commodity Exchange, gold futures were trading at 2.82% lower at Rs.50,580 per 10 grams compared to its previous closing price of Rs.51,929 per 10 grams. Gold futures had touched an intraday high of Rs.51,650 per 10 grams, Rs.4,540 lower than its all-time high of Rs.56,191 in the previous week.

      Silver futures also fell by more than Rs.4,000 to Rs.62,287 per kg after hitting an intraday high of Rs.64,257 per kg. Silver futures had previously hit an all-time high at Rs.77,949 per kg last week.

      13 August 2020

    • Gold price increase by more than 1% on Wednesday

      On Wednesday, gold price climbed by more than 1 percent and recorded its highest in nearly nine years. The jump in the rates was driven by a softer dollar and expectations of more stimulus to revive pandemic-hit economies. The futures of spot gold were up to $1,859.56 per ounce while US gold futures increased to $1,860.40. It must be noted that central banks have slashed interest rates and rolled out a wave of stimulus measures to cushion the economic damage from the pandemic. This has helped gold prices surge by over 22 percent so far this year. Silver rates were also up on Wednesday. An ounce was retailed for $22.34 after increasing by 4.8 percent.

      22 July 2020

    • Gold rates fall in India for the second day in a row on 15 June 2020

      Even though there was a positive global trend, the prices of gold fell in India on 15 June 2020. This is the second consecutive day that the prices of gold have fallen.

      Gold futures prices for the month of August on MCX reduced by 0.4% and are at Rs.47,150 for 10 grams. In the previous session, the prices of gold had fallen by 0.12%. Even though jewellery shops have reopened the demand for gold has been low in India. This has led to shops providing a discount. Prices of gold in India are inclusive of 3% GST and 12.5% import duty. In the international markets, gold prices have increased due to the fears that there would be a second wave of coronavirus infections. Spot gold prices increased by 0.2% and are at $1,733.45 for an ounce. In the previous week, gold prices gained by 2.5%. There has been a sudden spike in coronavirus cases in China, as they announced a record number of infections for the second day in a row. In several US states, the number of new coronavirus cars and hospitalisations have hit record numbers. The prices of gold have also been supported by a weak dollar. According to several analysts, the demand for gold has affected the prices as well.

      15 June 2020

    • Gold futures prices for the month of June increase by 0.24% on 26 May 2020

      Following steady global rates, the prices of gold increased slightly in India on 26 May 2020. Gold futures prices for the month of June on MCX increased by 0.24% and are at Rs.47,088 for 10 grams.

      Earlier in May, the prices of the yellow metal hit record highs and were close to Rs.48,000 for 10 grams. However, the prices have fallen since due to a decline in international rates. The appetite for riskier assets has improved after many countries decided to reopen their economies. The prices of gold have been under pressure since then. In the international markets, the prices of gold remained steady and were at the $1,730 per ounce levels. The value of equities increased as various steps were taken by countries to reopen their economies. The prices of gold were supported at lower levels due to the tensions between China and the US and a softer dollar. According to Geojit Financial Services’ head of commodity research, Hareesh V, the prices of gold will be boosted due to the cold war between China and the US and the oil trade between Iran and Venezuela due to the sanctions by the US. The prices of gold in India are inclusive of 3% GST and 12.5% import duty. The focus remains on the tensions between China and the US after the US added 33 Chinese entities to its trade blacklist.

      26 May 2020

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