Gold Price Trend In Panaji

December 1st Rate Rs.2,905 per gram
December 31st Rate Rs.2,820 per gram
Highest Rate in December Rs.2,905 per gram on 1st December
Lowest Rate in December Rs.2,765 per gram on 16th, 22nd & 23rd December
Overall Performance Decline
Percentage Change -2.92%

December '16 - Week 1 (1st to 4th)

  • The price of gold was high as the month began, with gold trading at Rs.2,905 per gram on 1st December.
  • The continued effect of the policy of demonetisation led to a currency shortage, which reduced consumer spending on gold during the festive season.
  • International markets were high, which led to a reduction in demand for bullion, keeping prices low.
  • Gold traded at Rs.2,900 per gram on 4th December, recording a very marginal drop in price.

December '16 - Week 2 (5th to 11th)

  • Demand failed to increase in the second week of December, resulting in gold prices falling slightly.
  • Gold traded at Rs.2,885 per gram on 5th December as industrial demand fell.
  • A decrease in retail purchase of gold led to a decline in price, with gold trading at Rs.2,840 per gram on 9th December.
  • In spite of international trends reflecting an increase in demand for gold, domestic demand continued to be sluggish, resulting in gold trading at Rs.2,825 per gram on 11th December.

December '16 - Week 3 (12th to 18th)

  • Gold prices dipped further during the week due to weak demand and strengthening markets.
  • Gold was priced at Rs.2,825 per gram on 12th December, with the price falling further to Rs.2,785 per gram on 15th December.
  • A rise in U.S. Dollar rates led to a decrease in demand for gold on the international market, which resulted in a decline in price in the domestic market as well.
  • Gold was priced at Rs.2,775 per gram on 18th December, registering a marginal dip in price.

December '16 – Week 4 (19th to 25th)

  • Prices did not improve in the fourth week in spite of holiday buying due to Christmas and the wedding season in India as a result of the continuing currency shortage.
  • Gold traded at Rs.2,780 per gram on 19th December as markets staged a recovery, which decreased demand for bullion.
  • Gold prices fell to Rs.2,765 per gram on 23rd December before rising marginally to close the week at Rs.2,770 per gram on 25th December.

December '16 – Week 5 (26th to 31st)

  • The last week of December saw gold prices remain more or less constant due to stable demand.
  • Gold was priced at Rs.2,775 per gram on 26th December, with the metal recording marginal increases in price throughout the week.
  • Domestic demand rose slightly as the currency shortage appeared to be abating, with gold trading at Rs.2,800 per gram on 28th December.
  • International demand also rose as the week ended, resulting in gold reaching Rs.2,820 per gram on 31st December.
November 1st Rate Rs.3,060 per gram
November 30th Rate Rs.2,930 per gram
Highest Rate in November Rss.3,180 per gram on 9th November
Lowest Rate in November Rs.2,905 per gram on 25th November
Overall Performance Decline
Percentage Change -4.24%

November '16 - Week 1 (1st to 6th)

  • Gold prices in Panaji were high as the week began, as demand from industry and the retail sector were stable.
  • Gold traded at Rs.3,060 per gram on 1st November and prices rose throughout the week.
  • Weakening markets due to the upcoming U.S. elections led to investors putting their money into gold to safeguard against losses on the markets.
  • Strong domestic demand on account of the festive season also contributed to keeping prices high.
  • Gold traded at Rs.3,120 per gram on 6th November as the week ended with gold firmly in the black.

November '16 - Week 2 (7th to 13th)

  • The second week saw prices reach their monthly high due to renewed uncertainty following the U.S. election results as well as the demonetisation policy.
  • Gold was priced at Rs.3,090 per gram on 7th November as markets fell following the surprise victory of Donald Trump in the U.S. election.
  • The government’s announcement on the demonetisation of large currency notes created panic, leading investors to invest heavily in gold.
  • Gold reached its monthly high of Rs.3,180 per gram on 9th November due to the market crash following the demonetisation announcement.
  • Demand for gold fell as the shortage of legal tender affected the economy.
  • Gold traded at Rs.3,040 per gram on 13th November.

November '16 - Week 3 (14th to 20th)

  • Gold prices began to slide as demand dropped due to a shortage of funds as a result of demonetisation.
  • The government also enacted more stringent laws to monitor gold purchases, further putting people off investing in the metal.
  • Gold was priced at Rs.3,025 per gram on 14th November, with the price dropping to Rs.2,960 on 18th November.
  • Gold traded at Rs.2,965 per gram on 20th November, recording a marginal increase in price.

November '16 - Weeks 4 and 5 (21st to 30th)

  • The continued effect of demonetisation led to demand for gold falling due to a paucity of funds.
  • Gold was priced at Rs.2,970 per gram on 21st November as markets began to recover domestically.
  • A strengthening Dollar and positive market trends led to lower demand for gold in the international markets as well, which impacted domestic demand.
  • Prices fell gradually throughout the week, with gold closing at Rs.2,930 per gram on 30th November.
1st Day Rs.3,160
Last Day Rs.3,060
Highest Price Rs.3,160 from 1st October to 3rd October
Lowest Price Rs.3,016 on 17th October
Trend Decline
Change -3.16%

October 2016 – Weeks 1 and 2 (1st to 9th)

  • Though the interest rate hike by the U.S. Federal Reserve has been put on hold till December, expectations have sprouted again as a further delay in the hike could lead to other problems for the economy.
  • Gold as priced at Rs.3,160 on the 1st of October and prices remained stable until the 3rd.
  • Prices declined consistently until the 7th when they hit Rs.3,020 per gram, and then remained stable until the 9th,
  • Prices rose on the 10th to close the week at Rs.3,030 per gram.

October 2016 – Week 3 (10th to 16th)

  • The price of gold per gram did not change from the closing levels of the previous week and prices stood at Rs.3,030 until the 13th of the month.
  • Rates then increased by Rs.5 on the 14th and gain by Rs.5 on the 15th to settle at Rs.3,020 until the close of the week.
  • In comparison with the previous week, gold prices declined by Rs.10 between the 10th and 16th of October.

October 2016 – Week 4 (17th to 23rd)

  • There was little talk of the interest rate hike by the U.S. Federal Reserve this week.
  • Rates fell by Rs.4 on the first day of the week to stand at Rs.3,016 per gram – the lowest recorded rate in the month of October.
  • Rates then fluctuated for the next two days before rising to Rs.3,045 and remaining constant until the 21st.
  • Prices then fell by Rs.10 and remained stable for another day to close the fourth week of October at Rs.3,035 per gram.

October 2016 – Week 5 (24th to 31st)

  • Gold prices increased during the last week of the month as festive demand picked up in the domestic market.
  • The week began with fluctuations but prices soared to Rs.3,070 on the 29th and remained stable for another day before a drop by Rs.10 on the final day of trading saw the precious metal close the week at Rs.3,060 per gram.
  • The overall decline in prices between the first and last day of October was 3.16%.
1st Day Rs.3,125 per gram
Last Day Rs.3,160 per gram
Highest Price Rs.3,190 per gram on 25th to 29th September
Lowest Price Rs.3,115 per gram on 2nd September
Trend Incline
Change +1.12%

September '16 - Week 1 (1st to 4th)

  • Gold traded at Rs.3,125 per gram on 1st September.
  • On 2nd September, gold rates dropped to the lowest for this month when it traded at Rs.3,115 per gram.
  • Prices soon started to rise as U.S. economic data was weak indicating that a Fed rate hike would not be possible this month.
  • Demand for the yellow metal started to rise and the price of gold got a boost to Rs.3,140 per gram on 3rd and 4th September.

September '16 - Week 2 (5th to 11th)

  • Gold continued to traded at Rs.3,140 per gram this week till 6th September.
  • The constant rates could be attributed to steady demand for gold.
  • Owing to positive global trends, gold rates climbed.
  • Gold traded at Rs.3,180 per gram at the end of the week.

September '16 - Week 3 (12th to 18th)

  • At the start of the week, gold was seen trading at a constant pace of Rs.3,180 per gram.
  • The price of gold slipped after the U.S. Federal Reserve raised expectations of an interest rate hike.
  • Demand was sluggish as investors took a backseat.
  • Gold prices fell to Rs.3,155 per gram at the end of the week.

September '16 - Week 4 (19th to 25th)

  • Gold traded at Rs.3,155 per gram for majority of the week.
  • Prices climbed on 25th September as the Fed rate hike was postponed to December.
  • The U.S. Federal Reserve felt that the presidential elections were too close to introduce a rate hike now.
  • Gold prices soared to Rs.3,190 per gram as demand got a solid boost.

September '16 - Week 5 (26th to 30th)

  • Gold traded at Rs.3,190 per gram from 26th to 29th September.
  • The constant trend was a direct result of stable demand in the domestic and global markets.
  • The market bore a bearish outlook on 30th September as the dollar gained strength.
  • Gold rates fell to Rs.3,160 per gram on 30th September.
  • The trend for this month was an increase of 1.12%
First Day Rs.3,190 per gram
Last Day Rs.3,140 per gram
Highest Price Rs.3,225 on 3rd August
Lowest Price Rs.3,140 per gram 31st August
Trend Slight decline
Change -1.56%

August '16 - Weeks 1 (1st to 7th)

  • Gold traded at Rs.3,190 per gram on 1st and 2nd of August.
  • Weaker than expected growth data from the U.S. led to the dollar losing strength.
  • Gold rates started to rise, with the highest price of the month recorded on 3rd August at Rs.3,225 per gram.
  • Gold maintain high prices this week as there were positive trends on the domestic and global front.

August '16 - Week 2 (8th to 14th)

  • Gold traded at Rs.3,165 per gram on 8th August.
  • There were fluctuations in the equity markets leading to volatile prices in the gold markets.
  • Prices rose to Rs.3,195 per gram on 10th August, but started falling again.
  • The week ended with gold trading at Rs.3,175 per gram.

August '16 - Week 3 (15th to 21st)

  • Steady demand in the domestic market kept gold rates up this week.
  • Gold traded at Rs.3,175 per gram at the start of the week and climbed to Rs.3,205 per gram on 18th August.
  • Rates were relatively stable despite global trends indicating a negative atmosphere.
  • Gold rates dropped to Rs.3,200 per gram by the end of the week.

August '16 - Week 4 (22nd to 28th)

  • Demand for gold was lacklustre as the expectations of a Fed rate hike were heightened.
  • Gold rates started to drop as demand slackened.
  • Gold traded at Rs.3,180 per gram on 22nd August.
  • Gold rates dropped to Rs.3,160 per gram on 26th August, but remained constant till the end of the week on account of domestic demand.

August '16 - Week 5 (29th to 31st)

  • Gold traded at Rs.3,160 per gram on 29th and 30th August.
  • Prices started plummeting as investors expect the Federal Reserve to roll out the rate hike in September.
  • The lowest price gold reached this month was Rs.3,140 per gram on 31st August.
  • The overall trend this month was 1.5% decline.
1st July rate Rs.3,130
31st July rate Rs.3,170
Highest rate in July Rs.3,205 on 7th
Lowest rate in July Rs.3,130 on 1st
Overall performance Gain/Positive
% Change + 1.27%

July'16 - Week 1 (1st to 3rd)

  • Gold traded at Rs.3,130 per gram on 1st July.
  • Expectations of the central banks providing more monetary stimulus to the markets grew rapidly amidst the Brexit vote aftermath.
  • Gold rose to Rs.3,150 per gram on 2nd and 3rd July indicating a more constant trend for the week.

July'16 - Week 2 (4th to 10th)

  • On 4th July, gold prices were at Rs.3,180 per gram.
  • Equity investments fell to an all-time low, the U.S. released strong job data and the dollar gained strength.
  • The mixed sentiments in the global market led to a number of fluctuations through the week.
  • The lowest price was Rs.3,165 per gram on 5th July, but gold rapidly recovered by 7th July, trading at 3,205 per gram.

July'16 - Week 3 (11th to 17th)

  • Gold traded at Rs.3,170 per gram on 11th July.
  • Fluctuations were rampant through the week with gold touching the lowest rate on 14th July at Rs.3,135 per gram.
  • Gold rates recovered slightly and ended the week at Rs.3,170 per gram.

July ‘16 - Week 4 (18th to 24th)

  • Week 4 of July was not good news for gold rates as the U.S. released surprisingly strong economic data which sent the dollar up.
  • Gold traded at Rs.3,165 per gram on 18th and fell to Rs.3,120 per gram by 21st July.
  • Gold gained its strength slowly and traded at Rs.3,150 per gram by the end of the week.

July ‘16 - Week 5 (25th to 31st)

  • This week was more steady for gold prices. Gold traded at Rs.3,150 per gram on 25th July.
  • The prices fluctuated a bit but rose to Rs.3,170 per gram and stayed steady through the rest of the week.
  • Anticipation of a U.S. Federal Reserve hike was looming which could mean lower gold prices.
1st June rate Rs.2,915
30th June rate Rs.3,130
Highest rate in June Rs.3,175 per gram on 27th June
Lowest rate in June Rs.2,915 per gram 1st June
Overall performance Rise
% Change +7.37%

Jun'16 - Week 1 (1st to 4th)

  • Gold opened at Rs.2,915 per gram which was also the lowest price for the month of June.
  • There was a minor increase in price on the 2nd wherein gold was priced at Rs.2,920 and this rate was maintained until the 3rd.
  • Prices increased even further on the 4th to touch Rs.2,960 which was the highest rate for the month.
  • Although the changes were minor, an increase was seen in the price of gold as the week progressed.

Jun'16 - Week 2 (5th to 11th)

  • The rate of gold was quite steady during the first half of the second week with very minor fluctuations.
  • The rate of gold hovered between Rs.2,960 to Rs.2,965 until the 7th.
  • There was a minor increase noted in the price of gold on the 8th wherein the price of gold was Rs.2,957 per gram.
  • The rate of gold was Rs.2,995 on the 9th after which gold rates touched Rs.3,000 mark.
  • On the last day of the week, gold was priced at Rs.3,035 per gram.

Jun'16 - Week 3 (12th to 18th)

  • Continuing from the last week, the rate of gold was Rs.3,035 per gram on the first day of the week and this was maintained until the 13th.
  • There was a slight increase in the price of gold on the 14th wherein the price of gold was Rs.3,050 per gram.
  • The following days saw even more of an increase in prices with the price of gold touching Rs.3,100 on the 16th and increased even further from there.
  • Gold closed at Rs.3,085 per gram on the 18th which was a minor decrease as compared to the previous two days.

Jun'16 - Week 4 (19th to 25th)

  • Gold opened at Rs.3,085 per gram on the 19th, which was the same as the last day of the previous week.
  • Rate slightly increased on the 20th and steadied at Rs.3,085 per gram on the 21st and 22nd of the month.
  • The price of gold decreased slightly on the 23rd before reaching the highest price for the month which was Rs.3,200 per gram on the 24th of June.
  • Gold closed at Rs.3,150 per gram on the 25th which was a slight decrease from the previous day.

Jun'16 - Week 5 (26th to 30th)

  • The price of gold in the final week of the month was still relatively high as compared to the other weeks.
  • Gold opened at Rs.3,150 per gram and increased by Rs.25 the next day.
  • On the final day of the month, gold was priced at Rs.3,130 per gram.
1st May rate Rs.3,070
31st May rate Rs.2,895
Highest rate in May Rs.3,080 on the 7th and 8th of May
Lowest rate in May Rs.2,895 on the 30th and 31st of May
Overall performance Loss / Negative
% Change -5.70%

May'16 - Week 1 (1st to 7th)

  • Gold rates remained constant at Rs.3,070 for the first three days of the week after which they declined by Rs.18 to Rs.3,052 on the fourth day of trading.
  • Prices increased by Rs.3 to Rs.3,055 on the 5th and then declined by Rs.10 to Rs.3,045 on the 6th of the month.
  • The last day of the week saw gold rates rise by Rs.35 to Rs.3,080.
  • In comparison with the first day of the week, prices increased by Rs.10 during the first seven days of May 2016.

May ‘16 - Week 2 (8th to 14th)

  • Gold rates remained unchanged on the first day of the second week and prices were recorded at Rs.3,080 on the 8th of May.
  • A decline by Rs.20 on the second day of the week saw prices fall to Rs.3,060 and they remained unchanged for another day.
  • Prices fell by Rs.25 on the fourth day of the week and stood at Rs.3,035 after which a further decline of Rs.10 saw prices touch Rs.3,025 on the 12th of May.
  • Subsequent increases of Rs.10 each on the following two days saw gold close the week at Rs.3,045 per gram.
  • The overall decline in rates from the start of the week to the end of the week was Rs.35.

May ‘16 - Week 3 (15th to 21st)

  • An increase of Rs.8 was recorded on the first day of the third week of May and prices remained stable at Rs.3,053 on the 15th and 16th of May.
  • Prices then fell by Rs.15 to Rs.3,038 on the 17th after which an increase of Rs.7 on the 18th saw prices rise to Rs.3,045.
  • Rates fell by Rs.25 on the 19th and settled at Rs.3,020, followed by a decline of Rs.5 which saw prices remain stable at Rs.3,015 for the last two days of the week.
  • Gold prices declined further at the end of the week in comparison with the first day of the week, albeit by just Rs.30.

May ‘16 - Week 4 (22nd to 31st)

  • Gold prices were recorded at Rs.3,015 on the 22nd of May and consistent declines over the next few days saw prices drop to Rs.2,925 on the 27th.
  • Prices remained stable at Rs.2,925 between the 27th and 29th of the month, after which a further decline of Rs.30 saw prices reach their lowest level during the month and settle at Rs.2,895 on the last two days of May.
  • The overall decline in prices between the first and last day of the month was Rs.175.
1st April rate Rs 2,905
30th April rate Rs 3,070
Highest rate in April Rs 3,070 on 30th
Lowest rate in April Rs 2,880 on 4th
Overall performance Gain/Positive
% Change + 5.67%

Apr ‘16 - Week 1 (1st to 3rd)

  • He month began on a slow note for gold, with investors adopting a wait and watch strategy on the back of anticipated statements over a Federal rate change.
  • Gold traded at Rs 2,905 on 1st, dropping marginally over the week.
  • Prices fell by Rs 20 on 3rd, as gold trading at Rs 2,885 to end the week on a loss.

Apr ‘16 - Week 2 (4th to 10th)

  • An overall increase in rates was observed over the week.
  • Gold traded at Rs 2,880 on 4th, marginally gaining momentum.
  • Strong global cues aided gold rates in the city.
  • The week ended with gold trading at Rs 2,940 on 10th, showcasing an overall gain of Rs 60.

Apr ‘16 - Week 3 (11th to 17th)

  • Gold rates fluctuated over the weak, mimicking international trends.
  • Gold traded at Rs 2,945 on 11th, peaking at Rs 2,955 on 12th.
  • This strong start was negated by losses, with gold rates falling over the rest of the days.
  • The week ended with gold trading at Rs 2,950, a minor gain observed.

Apr ‘16 - Week 4 (18th to 24th)

  • Rate fluctuation continued into the fourth week, as international trends had a strong local impact.
  • The week began with gold trading at Rs 2,955.
  • Both gains and losses were observed over this period, with prices dropping to Rs 2,945 on 19th.
  • Prices got a boost towards the end of the week, as a weak US dollar pushed prices to Rs 2,980 on 22nd.

Apr ‘16 - Week 5 (25th to 30th)

  • The week started on a low, with prices falling to Rs 2,960 on 25th.
  • Demand for gold increased over the next few days, pushing up prices.
  • Gold traded at Rs 3,038 on 29th and Rs 3,070 on 30th, ending the month on a strong note.
1st March rate Rs 2,975
31st March rate Rs 2,900
Highest rate in March Rs 2,991 on 2nd
Lowest rate in March Rs 2,870 on 28th
Overall performance Loss/Negative
% Change -2.52%

Mar'16 - Week 1 (1st to 6th)

  • The month began with gold rates under Rs 3,000.
  • Jewellers in the city joined nationwide protests against a proposal to hike excise duty on gold.
  • This impacted gold markets in the city, with minor rate changes observed in the week.
  • Prices went to a high of Rs 2,991 on 2nd before falling to Rs 2,975.

Mar'16 - Week 2 (7th to 13th)

  • Protests continued into the second week.
  • Rates fell marginally, as gold traded at Rs 2,968 till the 10th.
  • Prices increased to Rs 2,973 before falling to Rs 2,926.

Mar'16 - Week 3 (14th to 20th)

  • Prices went up to Rs 2,938 on 15th.
  • A drop was witnessed on 16th, as rates fell to Rs 2,894.
  • Rates increased to Rs 2,926 before falling to Rs 2,908 to end the week.

Mar'16 - Week 4 (21st to 27th)

  • Prices went up to Rs 2,935 on 21st, before dropping to Rs 2,920.
  • Rates further fell to Rs 2,874 on 24th.
  • Gold rates picked up through the next three days, ending the week at Rs 2,910.

Mar'16 - Week 5 (28th to 31st)

  • The last week witnessed gold rates appreciating.
  • Prices went up gradually from Rs 2,882 on 28th.
  • The month ended with gold trading at Rs 2,900.
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