Gold Price Trend In Salem

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

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

August 2019 - Week 1 (1-11):

  • A rise in overseas cues and steady local demand saw gold rates in Salem rise after opening the month at Rs.3,481 per gram.
  • The rise in economic instability due to the ongoing Sino-U.S. trade war and falling equities bolstered bullion demand, as gold rose to Rs.3,633 per gram on 5 August.
  • The precious continued to climb despite weak retail demand, trading at Rs.3,750 per gram on 8 August and climbing to Rs.3,761 per gram when the week ended on 11 August.

August 2019 - Week 2 (12-18):

  • A rise in overseas cues and steady local demand saw gold rates in Salem rise after opening the month at Rs.3,481 per gram.
  • The rise in economic instability due to the ongoing Sino-U.S. trade war and falling equities bolstered bullion demand, as gold rose to Rs.3,633 per gram on 5 August.
  • The precious continued to climb despite weak retail demand, trading at Rs.3,750 per gram on 8 August and climbing to Rs.3,761 per gram when the week ended on 11 August.

August 2019 - Week 3 (19-25):

  • Despite opening lower at Rs.3,766 per gram, gold rates in Salem recovered as positive overseas trends bolstered flagging local demand, with prices rising to Rs.3,781 per gram on 21 August.
  • Trade tensions as well as the upcoming G7 summit dampened local demand for bullion, but industrial orders kept prices on the rise as the precious metal traded at Rs.3,802 per gram on 23 August.
  • Minutes from the Federal Reserve’s meeting also supported bullion growth, while a falling dollar boosted prices to Rs.3,864 per gram on 25 August.

August 2019- Week 4 (26-31):

  • Gold rates in Salem opened higher at Rs.3,904 per gram on 26 August on steady industrial demand and overseas cues, though prices slipped to Rs.3,876 per gram on 28 August on fluctuations in the dollar rate.
  • Prices surged to Rs.3,913 per gram on 29 August as the escalating trade war and poor economic growth increased bullion’s safe-haven appeal.
  • U.S.-China trade negotiations and a rise in the dollar rate bolstered equity markets as bullion dropped to Rs.3,876 per gram when the month ended on 31 August.

Trend of Gold Rate in Salem 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 2 July
Overall Performance Incline
Percentage Change 3.91%

July 2019 - Week 1 (1-7):

  • Gold rates in Salem opened lower at Rs.3,373 per gram as steady equity markets reduced interest in bullion, though prices climbed to Rs.3,443 per gram on 3 July.
  • Positive U.S. payrolls data reduced interest rate cut expectations, which led to gold dropping to Rs.3,425 per gram on 4 July though steady local demand kept prices steady.
  • Demand rose steadily as the week progressed due to escalating tensions between Iran and the U.S., which increased bullion’s safe-haven appeal as gold traded at Rs.3,445 per gram on 7 July.

July 2019 - Week 2 (8-14):

  • After opening at Rs.3,452 per gram, gold rates in Salem dropped briefly to Rs.3,432 per gram on 10 July as waning local interest and a steady U.S. dollar rate led to a decline in offtake.
  • Prices surged to Rs.3,493 per gram on 11 July as renewed fears of global recession coupled with the Federal Reserve’s rate cut indications dented the dollar and increased bullion demand.
  • Gold dropped to Rs.3,463 per gram on 12 July as local demand failed to keep prices steady, though a late rally saw the metal trade at Rs.3,482 per gram on 14 July.

July 2019 - Week 3 (15-21):

  • There was a slight drop as the week began, with gold rates in Salem opening at Rs.3,468 per gram before rising marginally to Rs.3,476 per gram on 16 July.
  • Investors reduced offtake prior to U.S. jobs data, resulting in prices falling to Rs.3,459 per gram on 18 July but poor equity performance saw gold rise to Rs.3,537 per gram on 19 July.
  • Demand slipped marginally as the week drew to a close with the precious metal trading at Rs.3,512 per gram on 21 July.

July 2019- Week 4 (22-28):

  • Gold prices in Salem opened the week at Rs.3,518 per gram but a rally by the dollar capped gains as prices dropped to Rs.3,501 per gram on 24 July.
  • Rising uncertainty over global economic growth failed to attract investor interest in bullion, as prices fell further to Rs.3,499 per gram on 26 July.
  • Local retail demand rose marginally as the week ended but a steady dollar rate saw gold rates trade at Rs.3,498 per gram on 28 July.

July 2019- Week 5 (29-31):

  • Gold prices in Salem opened at Rs.3,498 per gram when trading began on 29 July as overseas demand was steady in light of the increased geopolitical uncertainty.
  • Prices recorded a minor rise despite a weak rupee, as local industrial demand propped up prices even though retail sales were on the decline due to rising import costs.
  • The end of the month saw the precious metal trade at Rs.3,505 per gram on 31 July to record a modest 3.91% rise in price over the course of the month.

Trend of Gold Rate in Salem for June 2019 (rates per gram of 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.3,473 per gram on 25 June
Lowest Rate in June Rs.3,233 per gram on 1 and 2 June
Overall Performance Incline
Percentage Change 5.62%

June 2019- Week 1 (1-9):

  • After opening at a relatively lacklustre Rs.3,233 per gram, gold rates in Salem rose on steady local and overseas demand, trading at Rs.3,246 per gram on 4 June as jittery markets increased bullion’s appeal.
  • Global indices fell on threats of possible U.S. tariffs against Mexico, while a drop in the U.S. dollar boosted local industrial bullion offtake as the metal rose to Rs.3,257 per gram on 5 June.
  • Gold climbed steadily for the rest of the week on steady investor demand and rising retail sales, ending the week at Rs.3,299 per gram.

June 2019- Week 2 (10 - 16):

  • Gold rate in Salem at the start of week 2 stood at Rs.3,267 per gram. This was a steep decline in value in comparison to what the metal traded at the end of the 1st week.
  • The value of the dollar then dipped in comparison to other currencies. This caused the price of gold to surge to Rs.3,272 per gram on 13th.
  • The US dollar then began to regain its value as the week ended. This, however, did not have an adverse effect on the price of gold. It continued to rise to Rs.3,267 per gram on the 16th.

June 2019- Week 3 (17-23):

  • Gold prices in Salem opened unchanged at Rs.3,305 per gram on 17 June as static local demand and a stable U.S. dollar capped gains, with prices slipping to Rs.3,301 per gram on 19 June.
  • Indications of an interest rate cut by the U.S. Fed bolstered demand for bullion, as gold surged to Rs.3,372 per gram on 20 June.
  • Demand continued to climb with the yellow metal trading at Rs.3,435 per gram on 21 June before ending the week at Rs.3,422 per gram on steady investor interest.

June 2019- Week 4 (24-30):

  • After opening unchanged at Rs.3,422 per gram on 23 June, gold prices in Salem rose to Rs.3,473 per gram on 25 June on rising uncertainty following renewed war rhetoric between Iran and the U.S.
  • Prices stabilised on news of a backtrack by the Fed on interest rate cuts, resulting in the precious metal trading lower at Rs.3,413 per gram on 27 June.
  • Interest in bullion remained stable but retail demand fell due to rapidly rising prices, as the metal climbed to Rs.3,428 per gram on 28 June before settling at Rs.3,415 per gram on 30 June.

Trend of Gold Rate in Salem for May 2019 (rates per gram of 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.3,215 per gram on 31 May
Lowest Rate in May Rs.3,150 per gram on 3 May
Overall Performance Incline

May 2019 - Week 1 (1-5):

  • Continued fluctuations in local demand and renewed global uncertainty pushed gold rates in Salem lower despite the metal opening the month at Rs.3,190 per gram.
  • Gold dropped sharply to Rs.3,150 per gram on 3 May on weak jeweller demand due to a rising U.S. dollar and positive economic indicators from overseas, though retail demand remained stable due to the upcoming wedding season.
  • Prices recovered marginally towards the end of the week as the dollar rate dropped ahead of a possible rate cut by the Fed Reserve as gold traded at Rs.3,163 per gram on 5 May.

May 2019 - Week 2 (6-12):

  • A drop in the U.S. dollar rate prompted increased local demand for bullion, with the precious metal trading at Rs.3,171 per gram when the week began on 6 May.
  • Poor Asian offtake was offset by a spike in investor interest, as gold prices in Salem climbed to Rs.3,184 per gram on 8 May as global market uncertainty results in equities plunging.
  • Prices remained high as the week progressed despite a drop in local retail demand, with the precious metal closing the week at Rs.3,205 per gram on 12 May.

May 2019- Week 3 (13-19):

  • A drop in the U.S. dollar rate prompted increased local demand for bullion, with the precious metal trading at Rs.3,170 per gram when the week began on 13 May.
  • Poor Asian offtake was offset by a spike in investor interest, as gold prices in Salem climbed to Rs.3,186 per gram on 16 May as global market uncertainty results in equities plunging.
  • Prices remained high as the week progressed despite a drop in local retail demand, with the precious metal closing the week at Rs.3,203 per gram on 19 May.

May 2019- Week 4 (20-26):

  • A steady rise in investor risk sentiment dented bullion’s appeal as gold prices in Salem weakened after a relatively stable opening at Rs.3,170 per gram.
  • Prices dropped to Rs.3,156 per gram on 23 May as robust economic data and falling overseas demand weighed on the metal, though a reversal in fortune saw gold surge to Rs.3,188 per gram on 24 May.
  • The impact of rising tensions between Iran and the U.S. saw investors seek safety in bullion, though a rising U.S. dollar rate capped gains as the precious metal ended the week at Rs.3,183 per gram.

May 2019- Week 5 (27-31):

  • Sluggish industrial demand and weak overseas cues dampened demand for bullion as the week began, with gold rates in Salem opening at Rs.3,184 per gram on 27 May.
  • Steady local equity markets following the recent elections also capped gains despite steady retail offtake, as the yellow metal rose marginally to Rs.3,188 per gram on 29 May.
  • The steep drop in global equities amidst fears of a global recession saw investors increase their bullion orders, as gold rose to Rs.3,215 per gram on 31 May.

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

Parameters Gold price (24 karat)
April 1 Rate Rs.3,189 per gram
April 28 Rate Rs.3,208 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

April 2019 - Week 1 (1-7):

  • Despite a steady opening of Rs.3,189 per gram, gold prices in Salem fell on sluggish local demand due to conflicting overseas cues and a strong U.S. dollar rate.
  • Prices dropped to Rs.3,170 per gram on 2 April as gains were capped due to a rising dollar before plunging to Rs.3,162 per gram on 4 April on declining local offtake.
  • A drop in the dollar rate and rising interest from Asia boosted prices marginally as the week ended, with gold rates rising to Rs.3,185 per gram on 7 April.

April 2019 - Week 2 (8-14):

  • Demand for bullion rose on growing market volatility following news of possible U.S. sanctions on European goods, as the precious metal opened the week at Rs.3,198 per gram.
  • Prices rose to Rs.3,208 per gram on 9 April as local demand also steadied on a declining U.S. dollar but weak offtake from jewellers saw rates fall to Rs.3,206 per gram on 11 April in Salem.
  • Equities rose on positive economic data from the U.S. and China as interest in bullion waned and prices fell to Rs.3,178 per gram on 12 April, with a late rally boosting the metal’s value to Rs.3,183 per gram on 14 April.

April 2019 - Week 3 (15-21):

  • Declining global demand for bullion saw gold prices in Salem open lower at Rs.3,177 per gram on 15 April and continue to dip as local jeweller demand reflected weak overseas trends.
  • The precious metal traded at Rs.3,171 per gram on 17 April before plunging to Rs.3,162 per gram on 19 April as robust Chinese export data bolstered flagging equity markets.
  • Bullion received a boost as European businesses showed sluggish growth as investors renewed safe-haven asset offtake, resulting in gold rates rising marginally to Rs.3,166 per gram on 21 April.

April 2019- Week 4 (22-28):

  • Gold rates in Salem opened at Rs.3,180 per gram on marginal rises in local offtake but a steady growth in equity demand resulted in prices dropping to Rs.3,165 per gram on 24 April.
  • Local jeweller demand boosted prices as the precious metal traded at Rs.3,179 per gram on 25 April despite weak overseas bullion offtake.
  • Prices continued to climb as investors increased safe-haven asset offtake due to poor U.S. GDP data, with the metal closing the week at Rs.3,208 per gram on 28 April.

Trend of Gold Rate in salem for March 2019 (rates per gram of 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%

March 2019 - Week 1 (1-10):

  • Weak demand from overseas and local markets resulted in gold rates in Salem falling significantly after opening at a steady Rs.3,305 per gram.
  • A strengthening in the U.S. dollar and growing investor confidence in equities reduced dependency on safe-haven assets like bullion, as gold prices dropped to Rs.3,210 per gram on 7 March.
  • The European Central Bank’s decision to defer interest rate hikes boosted demand for gold towards the end of the week, as gold recovered to trade at Rs.3,247 per gram on 10 March.

March 2019 - Week 2 (11-17):

  • Gold prices in Salem opened at Rs.3,233 per gram on 11 March before dropping to Rs.3,213 per gram on 13 March as a rising dollar rate reduced local retail demand for the metal.
  • The resurgent dollar capped steady industrial demand as gold prices fell to Rs.3,207 per gram on 15 March, with declining interest from investors also denting the metal’s value.
  • Prices inched higher as the week ended over fears of the impact of the Brexit vote and the upcoming U.S. Federal Reserve meeting, trading at Rs.3,212 per gram on 17 March.

March 2019 - Week 3 (18-24):

  • A rise in overseas demand for bullion due to market uncertainty and a fluctuating dollar rate resulted in gold prices in Salem gaining after a subdued opening at Rs.3,190 per gram on 18 March.
  • Despite a drop in local jeweller offtake, rising investor interest resulted in prices rising too Rs.3,209 per gram on 20 March as markets remained volatile due to uncertainty over when the U.K. would exit the European Union.
  • A slight drop in price saw gold trade at Rs.3,191 per gram on 22 March but fears of a U.S. recession boosted demand for bullion as gold surged to Rs.3,236 per gram on 24 March.

March 2019- Week 4 (25-31):

  • Declining local demand and a rising U.S. dollar dented gold rates in Salem despite the metal opening at a stable Rs.3,229 per gram on 25 March.
  • Waning overseas interest saw prices fall to Rs.3,210 per gram on 28 March as investor interest moved to equities, with prices dropping to a monthly low of Rs.3,169 per gram on 29 March on falling local jeweller demand.
  • Weak U.S. economic data dulled the U.S. dollar rate slightly as gold rallied to end the month at Rs.3,200 per gram, but the metal’s overall value dropped by 3.17% during the month.

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

Parameters Gold price (24 karat)
February 1 Rate Rs.3,354 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 Performance Decline
Percentage Change -0.62%

February 2019 - Week 1 (1-10):

  • Sliding demand and poor overseas cues resulted in gold prices in Salem falling over the course of the week in spite of opening strongly at Rs.3,354 per gram on 1 February.
  • Retail demand also saw some fluctuations as the recovering dollar resulted in a slight decline in offtake by consumers.
  • Prices dipped to Rs.3,316 per gram on 7 February as positive U.S. jobs data boosted equity markets and reduced investor interest in bullion.
  • The end of the week saw gold prices recover to close at Rs.3,332 per gram on 10 February.

February 2019 - Week 2 (11-17):

  • Fluctuating overseas cues and volatile markets saw gold prices in Salem open at Rs.3,319 per gram on 11 February before dropping to Rs.3,292 per gram on 13 February.
  • Local demand was stable but static industrial orders from Asia due to the impact of the trade dispute brought prices down.
  • Fears over the impact of Brexit resulted in an increase in investor interest in bullion as gold rates rose to Rs.3,350 per gram when the week ended on 17 February.

February 2019 - Week 3 (18-24):

  • Gold rates in Salem saw some fluctuations after opening at a steady Rs.3,356 per gram on 18 February as market volatility and conflicting cues capped gains.
  • Prices rose to Rs.3,392 per gram on 20 February as local retail sales bolstered prices in spite of a drop in overseas investor interest ahead of the Federal Reserve meeting.
  • Indications of further interest rate hikes dampened interest in bullion as the dollar and equities performed well, resulting in gold prices falling to Rs.3,360 per gram on 24 February.

February 2019 - Week 4 (25-28):

  • A drop in overseas demand for the precious metal and a rise in the U.S. dollar rate saw gold prices in Salem fall marginally after a stable opening of Rs.3,355 per gram on 25 February.
  • Prices rose to Rs.3,357 per gram on 26 February as the possibility of a resolution to the Sino-U.S. trade dispute resulted in a fall in the U.S. dollar and boosted local offtake.
  • A more hawkish stance by the Fed Reserve reversed trends and saw a steep fall in bullion demand and the precious metal fell to Rs.3,333 per gram on 28 February to record a drop in overall value of 0.62%.

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

Parameters Gold price (24 karat)
Rate on 1st January2019 Rs.3,172per gram
Rate on 31st January2019 Rs.3,321per gram
Highest Rate in January 2019 Rs.3,326 per gram on 30 January
Lowest Rate in January 2019 Rs.3,172per gramon 1 and 7 January
Overall Performance Incline
Percentage Change 4.69%
Comparison for 24 K Gold Rates for Salem January 2019
Graph for Gold Rate (24K) in Salem January 2019

January 2019 - Week 1 (1 - 6):

  • In spite of steady local demand, gold price in Salem fluctuated briefly during the week due to conflicting overseas cues and volatile markets.
  • Gold opened the year priced at Rs.3,172 per gram before rising to Rs.3,191 per gram on 3 January due to a surge in overseas demand, with investors looking to bullion as markets fell.
  • Gold price continued to climb, reaching Rs.3,205 per gram on 4 January before the dollar strengthened and prices dipped to Rs.3,175 per gram when the week ended on 6 January.

January 2019 - Week 2 (7 - 13):

  • The second week saw gold rate in Salem continue to rise on steady local jeweller demand as well as increased overseas demand for the precious metal.
  • Gold traded at Rs.3,172 per gram on 7 January and prices surged to Rs.3,187 per gram on 8 January as retail demand was bolstered by wedding season demand and a weak dollar.
  • Gold Price jumped to Rs.3,229 per gram on 10 January on string overseas cues before settling at Rs.3,222 per gram when the week ended on 13 January.

January 2019 - Week 3 (14 - 20):

  • Uncertainty over Brexit and the growing deadlock over the U.S. government shutdown boosted gold rate in Salem this week, with the metal trading at Rs.3,230 per gram on 14 January.
  • The gold benefitted from increased local retail sales thanks to a weak dollar as jewellers and industrial units also raised their orders.
  • Gold price in Salem rose to Rs.3,263 per gram on 17 January before a marginal drop in local demand saw the metal trade at Rs.3,246 per gram when the week ended on 20 January.

January 2019 - Week 4 (21-27):

  • Gold price in Salem saw significant fluctuations as gains from rising retail demand were capped by aa weak rupee and static industrial offtake.
  • The precious metal opened at Rs.3,246 per gram on 21 January before falling to Rs.3,236 per gram on 22 January as investor interest fell ahead of the U.S. Fed Reserve meeting and a stable dollar.
  • Jeweller demand was also muted due to the weak rupee but prices received a mid-week boost as local industrial demand rose with gold trading at Rs.3,248 per gram on 13 January.
  • Prices surged as the week ended on economic uncertainty after the political crisis in Venezuela and Brexit, closing the week at Rs.3,277 per gram on 27 January.

January 2019 - Week 5 (28-31):

  • Gold rate in Salem reflected trends seen in other cities as positive overseas cues and a falling dollar boosted local demand as the metal opened the week at Rs.3,285 per gram on 28 January.
  • Investors also increased their stakes in bullion as markets remained volatile ahead of key Brexit decisions, which took gold prices to Rs.3,291 per gram on 29 January.
  • Prices reached a monthly high of Rs.3,326 per gram on 30 January as the constitutional crisis in Venezuela impacted global markets and currencies.
  • Gold dropped marginally as the month ended, with the metal trading at Rs.3,321 per gram on 31 January to record a 4.69% rise in value over the course of the month.

Trend of Gold Rate in Salem for 2018 ( 24K Gold per gram)

Months First Day Last Day Highest Rate Lowest Rate Overall Monthly Performance Percentage Change
January 2018 Rs.3,002 Rs.3,045 Rs.3,084 on 20 and 21 January Rs.3,001 on 4 January Incline 1.43%
February 2018 Rs.3,040 Rs.3,046 Rs.3,103 on 14 February Rs.3,003 on 8 February Incline 0.19%
March 2018 Rs.3,043 Rs.3,072 Rs.3,105 on 24 and 25 March Rs.3,030 on 19 March Incline 0.95%
April 2018 Rs.3,072 Rs.3,123 Rs.3,153 on 19 April Rs.3,064 on 6 April Incline 1.66%
May 2018 Rs.3,114 Rs.3,122 Rs.3,213 on 15 May Rs.3,103 on 3 May Incline 0.25%
June 2018 Rs.3,100 Rs.3,059 Rs.3,127 on 15 June Rs.3,054 on 24 June Decline -1.32%
July 2018 Rs.3,059 Rs.2,986 Rs.3,070 on 7 July Rs.2,986 on 18 & 31 July Decline -2.38%
August 2018 Rs.2,983 Rs.3,039 Rs.3,039 on 31 August Rs.2,800 on 16 August Incline 1.87%
September 2018 Rs.3,029 Rs.3,074 Rs.3,098 on 19 September Rs.3,019 on 3 September Incline 1.48%
October 2018 Rs.3,071 Rs.3,188 Rs.3,211 on 15 October Rs.3,071 on 1 October Incline 3.80%
November 2018 Rs.3,184 Rs.3,045 Rs.3,196 on 6 November Rs.3,045 on 30 November Decline -4.36%
December 2018 Rs.3,045 Rs.3,165 Rs.3,192 on 11 December Rs.3,045 on 1 December Incline 3.94%

Trend of Gold Rate in Salem for 2017 ( 24K Gold per gram)

Months First Day Last Day Highest Rate Lowest Rate Overall Monthly Performance Percentage Change
January 2017 Rs.2,821 Rs.2,942 Rs.2,974 on 24th January Rs.2,821 on 1st & 2nd January Incline 4.28%
February 2017 Rs.2,957 Rs.3,001 Rs.3,014 on 25th & 26th February Rs.2,940 on 3rd February Incline 1.48%
March 2017 Rs.2,994 Rs.2,942 Rs.2,994 on 1st March Rs.2,906 on 15th March Decline -1.73%
April 2017 Rs.2,956 Rs.2,984 Rs.3,035 on the 22nd and 23rd of April Rs.2,954 on the 8th and 9th of April Incline 0.94%
May 2017 Rs.2,984 Rs.2,968 Rs.2,984 on 1st May Rs.2,889 on 11th May Decline -0.53%
June 2017 Rs.2,977 Rs.2,962 Rs.3,030 on 7 June Rs.2,942 on 20 June Decline -0.50%
July 2017 Rs.2,950 Rs.2,925 Rs.2,950 on 1 July Rs.2,796 on 11 July Decline -0.84%
August 2017 Rs.2,926 Rs.2,971 Rs.2,999 on 29 August Rs.2,899 on 3 August Incline 1.53%
September 2017 Rs.2,995 Rs.3,040 Rs.3,102 on 8 September Rs.2,995 on 1 September Incline 1.50%
October 2017 Rs.3,040 Rs.2,997 Rs.3,059 on 14 and 15 October Rs.2,997 on 6, 27, 30, and 31 October Decline -1.41%
November 2017 Rs.2,982 Rs.3,015 Rs.3,015 on 30 and 31 December Rs.2,903 on 13 December Incline 1.10%
December 2017 Rs.2,982 Rs.3,015 Rs.3,015 on 30 and 31 December Rs.2,903 on 13 December Incline 1.10%

December 1st Rate Rs.2,890 per gram
December 31st Rate Rs.2,821 per gram
Highest Rate in December Rs.2,892 per gram on 1st and 2nd December
Lowest Rate in December Rs.2,767 per gram on 22nd December
Overall Performance Decline
Percentage Change -2.38%
Comparison for 24 K Gold Rates for Salem November '16

December 2016 - Week 1 (1st to 4th)

  • Compared to the closing hours of November, gold prices fell by a huge margin during the 1st of December as it was traded at Rs.2,890 as compared to Rs.2,938.
  • As the aftereffects of the Rs.500 and Rs.1,000 ban still lingered, demand for gold purchases remained dormant.
  • There was only a slight change on the 2nd of December where in gold traded at Rs.2,892.
  • Gold traded at Rs.2,890 again at the end of the week on the 4th of December till the time of closing.

December 2016 - Week 2 (5th-11th)

  • At the beginning of the week on December 5th, gold trading prices took a massive hit of Rs.21 as the yellow metal was being traded at Rs.2,869 as opposed to Rs.2,890 per gram at the time of closing on December 4th.
  • The rest of the week was also subject to much fluctuation as purchases were massively affected due to demonetization.
  • Although, trading prices remained at Rs.2,869 per gram on December 6th, it marginally increased to Rs.2,972 on December 7th and decreased considerably to Rs.2,963 per gram on December 8th.

December 2016 - Week 3 (12th to 18th)

  • On the 12th, at the beginning of the week, gold traded at Rs.2,836 per gram.
  • Prices stabilised till the 14th as the yellow metal was still trading at Rs.2,836 per gram.
  • On the 15th, prices saw a stark decrease as gold began to trade at Rs.2,800 per gram.
  • Prices again fell on the 16th as gold traded at Rs.2,785 per gram.
  • Demand for gold slightly increased as prices hit Rs.2,781 per gram on the 17th and remained the same at the end of the week on the 18th.

December 2016 - Week 4 (19th to 25th)

  • Gold prices didn’t witness any major changes in Salem for the week.
  • The week began with gold trading at Rs.2,790 per gram and slid down by R.2,780 per gram the next day.
  • On the 21st, prices increased slightly as the metal traded at Ts.2,782 per gram.
  • The 22nd however, saw prices decrease by over Rs.15 as it sold at Rs.2,767 per gram.
  • The fourth week of December ended with gold trading at Rs.2,773 per gram.

December 2016 - Week 5 (26th to 31st)

  • There were no major changes in the prices of god in Salem during the week.
  • Gold was priced at Rs.2,771 per gram on 26th December, which rose to Rs.2,804 per gram on 27th December.
  • Renewed interest in gold led to the price rising to Rs.2,814 per gram on 29th December, with the price rising to Rs.2,830 per gram on 30th December.
  • A slight fall in the price as the year ended led to gold trading at Rs.2,821 per gram on 31st December.
1st November rate Rs.3,075 per gram
30th November rate Rs.2,938 per gram
Highest rate in November Rs.3,166 per gram on 9th November
Lowest rate in November Rs.2,932 per gram on 25th November
Overall performance Decline
% Change -4.45%
Comparison for 24 K Gold Rates for Salem October '16

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

  • Gold traded at Rs.3,075 per gram on 1st November.
  • The overall trend for this week was an incline in gold prices which could be attributed to the wedding season demand in the domestic market.
  • There was a drop in prices on 3rd November owing to speculations of the Fed rate hike coupled with the uncertain outcome of the U.S. presidential elections.
  • Gold traded at Rs.3,119 per gram on 5th and 6th November.

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

  • Gold traded at Rs.3,083 per gram on 7th November as demand was high on account of the wedding season.
  • Gold rates spiked to Rs.3,166 per gram on 9th November soon after Prime Minister Modi declared Rs.500 and Rs.1,000 notes not to be legal tender anymore.
  • With Donald Trump winning the U.S. election, the dollar weakened and gold prices climbed in the global market.
  • With the absence of demand in the domestic market, gold rates dropped to Rs.3,059 per gram by the end of the week.

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

  • Gold traded at Rs.3,054 per gram on 14th November.
  • A declining trend in gold rates was witnessed this week as PM Modi’s fight against black money had strong effects on gold purchases.
  • Gold prices fell to their lowest for this week on 18th November, trading at Rs.2,976 per gram.
  • In the global market, investors flocked to gold for its safe-haven appeal as uncertainty loomed around the economic policies under President-elect Donald Trump.
  • The dollar retreated from its 14-year high resulting in a favourable atmosphere for gold.
  • The week ended with gold trading at Rs.2,986 per gram.

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

  • Gold traded at Rs.2,984 per gram on 21st November.
  • Gold rates plummeted through the week on account of the cash crunch faced by the nation in the wake of the demonetisation scheme.
  • By the end of the week, gold was trading at Rs.2,938 per gram.
  • The decline in prices could also be attributed to a rising dollar resulting in bearish tendencies in the global market.
  • Low demand is expected for the next few weeks even though the wedding season is at its peak.
1st October rate Rs.3,152 per gram
31st October rate Rs.3,065 per gram
Highest rate in October Rs.3,152 per gram on 1st and 2nd October
Lowest rate in October Rs.3,018 per gram on 17th October
Overall performance Decline
% Change -2.76%
Comparison for 24 K Gold Rates for Salem September'16

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

  • Gold traded at Rs.3,152 per gram on 1st and 2nd October.
  • The first week of October was not bright for the shiny metal as demand started to fall.
  • A strong dollar, an improving U.S. economy, and the anticipation of a Fed rate hike led to prices dropping in the global market.
  • In the domestic market, demand was subdued as well.
  • Gold traded at Rs.3,027 per gram on 7th October.

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

  • Demand for gold picked up this week as jewellers and retailers increased their offtake to prepare for the festive season.
  • Gold traded at Rs.3,026 per gram on 8th and 9th October.
  • Gold rates climbed to Rs.3,040 per gram on 13th October on account of positive global trends coupled with an increase in domestic demand.
  • Trends in the overseas market turned weak as global political and financial risks deterred investors.
  • Gold prices fell to Rs.3,027 per gram on 14th October.

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

  • Gold traded at Rs.3,021 per gram on 15th and 16th October.
  • Prices took a plunge on 17th October to Rs.3,018 per gram as expectations of an interest rate hike by the U.S. Federal Reserve picked up.
  • Demand for gold in the domestic spot market start to rise as the wedding season began.
  • Gold climbed to Rs.3,049 per gram on 20th October, the highest for the week.
  • The week closed with gold trading at Rs.3,041 per gram.

October '16 - Week 4 (22nd to 28th) & Week 5 (29th to 31st)

  • Gold traded at Rs.3,046 per gram on 22nd and 23rd October.
  • Fluctuations in gold prices were seen through the week with an overall increasing trend.
  • By 29th October, gold prices reached Rs.3,067 per gram, the highest for the week.
  • Global trends were positive for gold as the dollar weakened.
  • In the domestic market, gold saw high demand in light of the festive season.
  • The week closed with gold trading at Rs.3,065 per gram.
  • Demand for gold is expected to increase as the wedding season blossoms.
1st September rate Rs.3,120 per gram
30th September rate Rs.3,176 per gram
Highest rate in September Rs.3,197 per gram on 8th September
Lowest rate in September Rs.3,120 per gram on 1st September
Overall performance Increase
% Change 1.79%
Comparison for 24 K Gold Rates for Salem August'16

September '16 - Week 1 and 2 (1st to 10th)

  • Gold rates fluctuated in Salem in the beginning of September.
  • Gold traded at Rs.3,120 per gram on 1st September and climbed to its highest on 8th when it traded at Rs.3,197 per gram.
  • The rise in prices can be attributed to slow U.S. economic data that dampened the expectations of a Fed rate hike this month.

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

  • Gold rates took a serious hit this week as the expectations of an interest rate hike was raised by the Federal Reserve officials.
  • Prices dipped in the global markets as investors pulled back from the safe-haven investment.
  • Gold traded at Rs.3,181 per gram on 11th September and ended the week at Rs.3,146 per gram.

September '16 - Week 4 (18th to 24th)

  • Gold rates were on an inclined path this week as the Fed rate hike was put off for the time being.
  • Gold traded at Rs.3,146 per gram on 18th September.
  • As domestic demand firmed up, gold rates gained even more support.
  • By 24th September, gold prices had reached Rs.3,193 per gram.

September '16 - Week 5 (25th to 30th)

  • Gold rates took a turn this week and start sliding down.
  • Gold traded at Rs.3,193 per gram at the start of the week.
  • Prices dipped drastically to Rs.3,155 per gram on 28th September.
  • The drop in rates can be attributed to the rise in the dollar as the U.S. economy gains strength.
  • Gold closed at Rs.3,176 per gram at the end of the month indicating an overall increase of 1.79%.
1st July rate Rs.3,201 per gram
31st July rate Rs.3,142 per gram
Highest rate in July Rs.3,229 per gram on 3rd August
Lowest rate in July Rs.3,148 per gram on 8th August
Overall performance Decline
% Change -1.84%
Comparison for 24 K Gold Rates for Salem July'16

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

  • Gold prices increased gradually as the week began before falling towards the end of the week.
  • Gold traded at Rs.3,201 per gram on the 1st and at Rs.3,171 per gram on the 7th of August.
  • A relatively low U.S Dollar led to increased demand at the beginning of the week but demand dipped as equity markets rose on positive U.S. economic data.
  • Domestic demand could not sustain a rise, leading to a drop in the price of gold at the end of the week.

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

  • Gold rates fluctuated slightly through the week owing to trends in the international markets.
  • Gold traded at Rs.3,148 per gram on 8th August and climbed slowly.
  • On 10th August, gold touched its highest at Rs.3,198 per gram.

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

  • Gold traded at Rs.3,181 per gram on 15th August.
  • Prices fluctuated through the week owing to an increase in domestic demand and a fall in prices in the global market.
  • Gold reached its highest on 19th August trading at Rs.3,203 per gram after which it dropped to Rs.3,200 per gram on 20th and 21st August.

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

  • Gold prices fluctuated through the week in Salem.
  • Gold traded at Rs.3,184 per gram on 22nd August.
  • Prices climbed slightly as demand from the jewellers in the domestic market grew.
  • Globally, the dollar grew stronger leading to expectations of a Fed rate hike soon. This led to gold rates dropping rapidly.

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

  • Gold remained steady at RS.3,156 per gram at the beginning of the week.
  • Prices dropped to Rs.3,142 per gram as the dollar gained as a result of positive U.S. job data.
  • A rate hike by the U.S. Federal Reserve might be rolled on soon as policymakers are confident that the economy is strong enough and further delays could result in other risks.
1st July rate Rs. 3,129.50 per gram
31st July rate Rs. 3,214 per gram
Highest rate in July Rs. 3,214 per gram on July 30 and 31
Lowest rate in July Rs. 3,118.50 per gram on July 25
Overall performance Rising
% Change +3.06%
Comparison for 24 K Gold Rates for Salem Jun'16

July'16 - Week 1 and 2 (1st to 10th)

  • Gold prices in Salem fluctuated through the beginning of July.
  • Gold traded at Rs.3,129.50 on July 1st and closed at Rs.3,162.50 on July 9th indicating an increasing trend.
  • Trends in the global and domestic market contributed to a good rise in gold prices.

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

  • Gold rates fell as the week progressed due to poor demand from the domestic market as well as a subdued trading session on the global markets.
  • Prices were recorded at Rs.3,155 per gram on the first day of the week and Rs.3,146 per gram on the last day of the week.
  • Minor fluctuations in the gold price was observed as the week began, before the rates declined marginally and prices closed with a Rs.9 difference in price between the first and last days in the week.

July '16 - Week 4 (18th to 24th)

  • Gold rates in Salem fluctuated quite a bit this week.
  • Prices initially rose from Rs.3,140 per gram on 18th July to Rs.3,148.50 on 19th July.
  • Unstable market trends led to gold rates dropping drastically with the lowest recorded on 21st July at Rs.3,123,50.
  • The end of the week saw gold rates stabilizing and climbing back up slowly.

July‘16 - Week 5 (25th to 31st)

  • Gold prices were recorded at Rs.3,118.50 on the 25th of July.
  • Prices then fluctuated until the 29th of the month as marginal losses were overwritten by subsequent gains.
  • On the 30th of July, prices increased to Rs.3,214 and did not change on the last day of the month, thereby closing July at the aforementioned rate.
1st June rate Rs.2,934
30th June rate Rs.3,105
Highest rate in June Rs.3,180 on 27th of June
Lowest rate in June Rs.2,916 on 3rd of June
Overall performance Rise
% Change +9.05
Comparison for 24 K Gold Rates for Salem May'16

Jun'16 - Week 1 (1st to 5th)

  • Gold traded at Rs. 2,934 on June 1st.
  • Prices fluctuated owing to changes in the domestic and international markets.
  • Prices climbed back up as the U.S. dollar weakened coupled with the hype of a U.S. Federal Reserve rate hike being subdued.
  • Gold traded at Rs. 2,794 on June 4th and 5th.

Jun'16 - Week 2 (6th to 12th)

  • Gold traded at Rs.2,968 per gram on the first day of the second week of June.
  • There was no change in the price of gold on the 7th of June as gold traded at Rs. 2,968 per gram.
  • Gold price shot up to Rs. 3,39 on the last two days of the second week, 11th and 12th of June.

Jun'16 - Week 3 (13th to 19th)

  • Gold opened the week at Rs. 3,064 per gram on the 13th of June.
  • The prices rose further as the week progressed as gold hit its highest for the month on the 16th of June at Rs. 3,122 per gram.
  • Gold ended the week at Rs. 3,087 per gram on the 19th of June.

Jun'16 - Week 4 (20th to 26th)

  • Due to steady demand from consumers, traders and jewellers, there was a steady increase seen in the rate of gold as the week progressed.
  • Gold rate throughout the month was relatively steady with a few minor fluctuations.
  • Gold rate opened at Rs. 3,076 per gram at the beginning of the month.
  • The highest rate of gold was noted on the 26th at Rs. 3,165 per gram.

Jun'16 - Week 5 (27th to 30th)

  • Gold rates did not undergo drastic changes during the last four days of June, but there was a relative drop in prices over the same period.
  • Prices were recorded at Rs.3,180 on the 27th of June and Rs.3,105 on the 30th of June.
  • The overall change in rates over the last four days of June was Rs.75.
1st May rate Rs. 3,069 per gram
31st May rate Rs. 2,914 per gram
Highest rate in May Rs. 3,076 per gram on May 2
Lowest rate in May Rs. 2,914 per gram on May 31
Overall performance Decline
% Change -5.05%

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

  • Gold rates remained constant during the course of the week with small changes in prices on certain days.
  • Prices were recorded at Rs.3,069 on the 1st of May and Rs.3,050 on the 7th of May.
  • Small fluctuations in rates prevailed during the week, but lack of any significant domestic or international events ensured that prices remained mostly stable.

May ‘16 - Week 2 (8th to 14th)

  • Gold rates remained constant during the course of the week with small changes in prices on certain days.
  • Prices were recorded at Rs.3,073 on the 8th of May and Rs.3,051 on the 14th of May.
  • Small fluctuations in rates prevailed during the week, but lack of any significant domestic or international events ensured that prices remained mostly stable.

May ‘16 - Week 3 (15th to 21st)

  • Gold rates fluctuated during the course of the week, with marginal profits and losses dictating the order of the day.
  • Prices were recorded at Rs.3,051 on the 15th of May and Rs.3,015 on the 21st of May.
  • Small fluctuations in rates prevailed during the week, but lack of any significant domestic or international events ensured that prices did not fall by much over the course of the seven-day period.

May ‘16 - Week 4 (22nd to 28th)

  • Through the course of the week, gold rates dropped consistently.
  • Prices were recorded at Rs. 3,015 on the 22nd of May and Rs. 2,916 on the 28th of May .
  • Gold rates fluctuated on 26th May with a slight increase, but the downward trend continued again on 27th May.

May ‘16 - Week 5 (29th to 31st)

  • Due to high demand, the price of gold was relatively steady in Salem during the month of May with minor fluctuations on certain days.
  • There was, however, a decline noted as the month progressed due to imminent hike in rate of interest by U.S Fed and also default crisis in Greece.
  • Gold closed at Rs. 2914 on 31st of May.
1st April rate Rs 2,890
30th April rate Rs 3,069
Highest rate in April Rs 3,069 on 30th
Lowest rate in April Rs 2,869 on 4th
Overall performance Gain/Positive
% Change + 6.19%

Apr'16 - Weeks 1 & 2 (1st to 10th)

  • Gold prices in Salem at the start of April registered appreciations as global cues spurred rates to break losing streaks observed in the past week.
  • Prices were Rs.2,877 on 1st and Rs.2,944 on 10th.
  • Gold prices experienced fluctuations almost on a daily basis as prices breached the 2,900-mark on 5th and managed to rise to Rs.2,944 by 10th of the month.

Apr ‘16 - Week 3 (11th to 17th)

  • Gold saw a rise of Rs.7 in the third week.
  • Prices were Rs.2,950 on 11th and Rs.2,957 on 17th.
  • Gold prices saw low volatility as stable cues helped keep rates in a constant level.

Apr ‘16 - Week 4 (18th to 24th)

  • Gold prices were down marginally by Rs.2 in this week.
  • Prices were Rs.2,960 on 18th and Rs.2,958 on 24th.
  • Gold prices appreciated in the first 4 days to Rs.2,998 before losing out the gains by 24th.

Apr ‘16 - Week 5 (25th to 30th)

  • The week began on a high, with gold trading at Rs 2,962 on 25th.
  • Prices dipped marginally on 26th, before rallying back.
  • The week ended with gold trading at Rs 3,069, the highest for the month.

1st March rate

Rs 2,976

31st March rate

Rs 2,891

Highest rate in March

Rs 2,991 on 8th, 9th and 10th

Lowest rate in March

Rs 2,699 on 11th

Overall performance

Loss/Negative

% Change

-2.86%

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

  • Gold trading was suspended in the city from 1st to 6th as jewellers and traders went on a strike to protest against the 1% excise duty on jewellery announced in Budget 2016-17 by the government.
  • Prices were stable at Rs.2,976 over the course of the first week.

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

  • Gold trading was halted again during the second week as the jewellery association protests continued over excise duty and PAN card disclosure issues.
  • Prices were Rs.2,970 on 7th and Rs.2,989 on 13th.

Mar ‘16 - Week 3 (14th to 20th)

  • Gold experienced small changes in rates as protests continued in some parts of the state.
  • Prices were Rs.2,937 on 14th and Rs.2,940 on 20th.

Mar ‘16 - Week 4 (21st to 27th)

  • Gold markets saw fluctuations over the week even as traders continued their protest while jewellers were mostly open.
  • Rates were Rs.2,914 on 21st and Rs.2,896 on 27th.
  • Gold prices appreciated to Rs.2,943 on 22nd before settling at Rs.2,896 by 25th.

Mar ‘16 - Week 5 (28th to 31st)

  • Gold rates fluctuated over the week, owing to market conditions and local demand.
  • A slight increase was witnessed, with prices going up from Rs 2,874 on 28th to Rs 2,910 on 30th, before dropping to Rs 2,891.

1st February rate

Rs.2,720

29th February rate

Rs.2,984

Highest rate in February

Rs.2,984 on 25th and 29th

Lowest rate in February

Rs.2,720 on 1st

Overall performance

Gain/Positive

% Change

+9.71%

Week 1 (1st to 7th)

  • Gold rates appreciated in the 1st week of February.
  • Prices were Rs.2,720 on 1st and Rs.2,813 on 7th.
  • Gold prices were up on all days of the week as strong internal demand and global cues pushed rates in the upward direction.

Week 2 (8th to 14th)

  • Gold rates appreciated again during 2nd week of trading.
  • Prices were Rs.2,815 on 8th and Rs.2,936 on 14th.
  • Gold had mostly positive sessions in the week, rising to Rs.2,961 by 12th before letting go of some of the gains on 13th and 14th to settle Rs.121 higher at Rs.2,936.

Week 3 (15th to 21st)

  • Gold prices appreciated over the 3rd week of trading, continuing its positive trend over the month of February.
  • Prices were Rs.2,889 on 15th and Rs.2,973 on 21st.
  • Gold fell to Rs.2,885 on 17th but rallied back and posted Rs.84 in profits by settling at Rs.2,973 for the week by 21st.

Week 4 (22nd to 29th)

  • Gold continued its winning streak over the final days of February, ending a specifically gainful month of trading that beat 4-year high net monthly gain records.
  • Prices were Rs.2,928 on 22nd and Rs.2,984 on 29th.
  • Gold rose to Rs.2,984 by 25th itself, before losing some of the gains by 28th but rallying back to Rs.2,984 on 29th.

4th January rate

Rs.2,569

31st January rate

Rs.2,710

Highest rate in January

Rs.2,719 on 28th

Lowest rate in January

Rs.2,569 on 4th

Overall performance

Gain/Positive

% Change

+5.49%

Week 1 (4th to 10th)

  • Gold rates appreciated during the 1st week of trading in 2016.
  • Prices were Rs.2,569 on 4th and Rs.2,635 on 10th.
  • Gold prices were up till 7th to settle at Rs.2,629 before falling marginally to Rs.2,626 on 8th.
  • Gold gained value on 9th to touch Rs.2,635 and settled there for 10th also.

Week 2 (11th to 17th)

  • Gold prices were up again during 2nd week of trading.
  • Prices were Rs.2,632 on 11th and Rs.2,654 on 17th.
  • Gold lost Rs.39 in the first 3 days of trading in the week, settling at sub-2,600 rate of Rs.2,593 on 13th.
  • Prices gained momentum toward the end of the week, registering an overall gain of Rs.22 over the week.

Week 3 (18th to 24th)

  • Gold prices appreciated by Rs.18 in the 3rd week, continuing to rise on the back of strong global cues and rising internal demand from retailers and jewellers to meet the wedding season demand.
  • Prices were Rs.2,642 on 18th and Rs.2,660 on 24th.
  • Gold rose to a high of Rs.2,676 by 21st before dropping some of the gains to settle at Rs.2,660 for the week.

Week 4 (25th to 31st)

  • Gold appreciated and crossed the 2,700-mark for the first time this year in the final days of January, ending a mostly positive month.
  • Prices were Rs.2,678 on 25th and Rs.2,710 on 31st.
  • Prices reached a high of Rs.2,718 by rising consecutively till 28th before sliding on 29th and ultimately settling at Rs.2,710 for the month.
Gold Rate In Metro Cities
Gold Rate In Other Capitals
Gold Rate In Other Major Cities
Gold Rate In States
Bank Gold Schemes

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