Gold Price Trend In Shimla

December 1st Rate Rs.2,893 per gram
December 31st Rate Rs.2,844 per gram
Highest Rate in December Rs.2,893 per gram on 1st & 2nd December
Lowest Rate in December Rs.2,800 per gram from 23rd -28th December
Overall Performance Decline
Percentage Change -1.69%

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

  • Gold began the month trading at Rs.2,893 per gram on 1st December, as demand from retail and industrial sectors was high.
  • Prices dipped marginally due to fluctuations in the market, but stayed stable for most of the week.
  • The shortage of currency notes led to lower than expected demand from investors.
  • Gold traded at Rs.2,887 per gram on 4th December, recording a marginal decrease in price.

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

  • The second week saw gold prices stay constant before increasing slightly due to a rise in demand.
  • Gold traded at Rs.2,887 per gram on 5th December, with prices rising to Rs.2,892 per gram on 8th December on slight market uncertainty.
  • Retail demand dipped as the week progressed due to greater scrutiny of bullion purchases, which led to gold trading low.
  • The week ended with gold priced at Rs.2,864 per gram on 11th December.

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

  • Gold prices fell during the week due to weak demand as markets performed well.
  • Gold was priced at Rs.2,864 per gram on 12th December, with prices remaining constant till 14th December on stable demand.
  • Prices dipped to Rs.2,822 per gram on 15th December as the U.S. Dollar gained in value, which lowered demand for bullion.
  • Prices remained unchanged for the rest of the week, with gold trading at the same rate due to stagnant demand.

December '16 – Week 4 (19th to 25th)

  • Prices remained unchanged at Rs.2,822 per gram on 19th December as demand was domestic demand was muted, though international demand increased slightly.
  • Gold prices fell to their lowest monthly rates, trading at Rs.2,800 per gram on 23rd December as retail demand slumped.
  • A recovering market also contributed to lower demand for gold from the industrial sector.
  • Gold traded at Rs.2,800 per gram as the week ended on 25th December, registering a marginal loss due to market forces.

December '16 – Week 5 (26th to 31st)

  • The last week of December saw gold prices make a slight recovery due to higher international demand.
  • Gold was priced at Rs.2,800 per gram on 26th December as domestic demand continued to be poor.
  • Prices rose marginally to Rs.2,833 per gram on 29th December with anticipated announcement on the demonetisation policy leading to markets falling.
  • Gold prices rose as the year ended to Rs.2,844 per gram on 31st December, though gold prices recorded a monthly loss of over 1%.
November 1st Rate Rs.3,099 per gram
November 30th Rate Rs.2,941 per gram
Highest Rate in November Rss.3,213 per gram on 5th & 6th November
Lowest Rate in November Rs.2,929 per gram from 25th-27th November
Overall Performance Decline
Percentage Change -5.09%

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

  • The price of gold was relatively stable as the month began, as high demand from the industrial sector coupled with strong domestic demand kept prices high.
  • Gold traded at Rs.3,099 per gram on 1st November and rose as the week progressed.
  • Market fluctuations due to the impending U.S. elections led to heavier investment in gold.
  • Gold reached its monthly high of Rs.3,213 per gram on 5th and 6th November.

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

  • The price of gold was stable as the week began but dropped due to the government’s demonetisation policy.
  • Gold traded at Rs.3,211 per gram on 7th November as markets fell following the election of Donald Trump as U.S. President.
  • The surprise move to demonetise Rs.1,000 and Rs.500 notes led to markets falling and a renewed interest in gold.
  • Prices stayed high initially but dipped as legal tender became difficult to come by, thereby reducing demand.
  • Gold traded at Rs.3,071 per gram on 13th November, with the price falling due to decreasing demand from the retail sector.

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

  • Demonetisation and the currency shortage resulted in demand for gold dwindling, as retail demand all but ground to a halt.
  • Gold was priced at Rs.3,071 per gram in 14th November, with the price dipping as the week progressed.
  • International demand for gold was consistent, though demand fell marginally.
  • Gold fell below Rs.3,000 for the first time in the month, trading at Rs.2,994 per gram on 20th November.

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

  • The possibility of a U.S. Fed rate hike led to the markets rallying, which pushed up the Dollar and resulted in demand for gold falling.
  • Gold was priced at Rs.2,994 per gram on 21st November as domestic markets continued to reel from the effects of demonetisation.
  • The enactment of stringent measures preventing large purchases of gold led to a further lowering of demand for gold.
  • The price fell to Rs.2,929 per gram on 25th November, the lowest price for the month as domestic markets recovered and industrial demand was low.
  • Gold made a slight recovery, trading at Rs.2,941 per gram on 30th November.
1st Day Rs.3,205
Last Day Rs.3,099
Highest Price Rs.3,205 from 1st to 4th October
Lowest Price Rs.3,088 from 6th October to 25th October
Trend Decline
Change -3.31%

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 prices stood at Rs.3,205 on the 1st of October and the remained unchanged until the 4th of the month.
  • A decline on the 5th of October saw prices drop to Rs.3,119 per gram, after which another decline saw prices plunge further down to Rs.3,088 on the 6th.
  • Prices remained stable till the end of the week as there were no fluctuations.

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 remained stable at Rs.3,088 until the end of the week.

October 2016 – Week 4 (17th to 23rd)

  • There was little talk of the interest rate hike by the U.S. Federal Reserve this week, and rates remained unchanged at Rs.3,088 until the week ended.

October 2016 – Week 5 (24th to 31st)

  • Although there was no change in rates on the first day of the week, prices increased to Rs.3,099 on the 26th of October and remained stable until the end of the month.
  • The overall decline in prices between the start and end of October was 3.31%.
1st Day Rs.3,184 per gram
Last Day Rs.3,217 per gram
Highest Price Rs.3,228 per gram from 7th to 12th September
Lowest Price Rs.3,184 per gram on 1st and 2nd September
Trend Incline
Change +1.04%

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

  • Demand for gold was high this week leading to a rise in gold prices.
  • Gold traded at Rs.3,184 per gram at the start of the week. This was the lowest price for the month.
  • With the release of weak U.S. economic data, expectations of a Fed rate hike this month died down.
  • Gold prices rose significantly this week as demand was high.
  • By the end of the week, gold traded at Rs.3,195 per gram.

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

  • Gold traded at Rs.3,195 per gram on 5th September.
  • Positive trends loomed over the global market triggering a rise in demand for gold.
  • Gold prices reached their highest on 7th September trading at Rs.3,228 per gram.
  • For the rest of the week, stable demand kept prices constant.

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

  • Demand for gold took a hit this week as the U.S. Federal Reserve intended on rolling out an interest rate hike soon despite weak economic data.
  • Gold traded at Rs.3,228 per gram on 12th September.
  • Gold prices started falling as investors laid back from the yellow metal.
  • Gold traded at Rs.3,195 per gram on 18th September.

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

  • Gold traded at Rs.3,195 per gram on 19th September.
  • Gold gained this week on the back of the U.S. Federal Reserve’s decision to put the interest rate hike on hold till December.
  • The decision was taken in light of the the upcoming U.S. presidential elections.
  • Gold prices climbed as demand was heavy.
  • On 22nd September, gold rates climbed to Rs.3,227 per gram and stayed constant for the rest of the week.

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

  • Gold traded at Rs.3,227 per gram from 26th to 28th September.
  • Steady demand gave gold rates support to stay constant.
  • Prices of gold soon started to fall as the dollar grew stronger.
  • Gold was seen trading at Rs.3,217 per gram on 30th September.
  • Overall, the trend for this month indicated an increase of 1.04%.
First Day Rs.3,219 per gram
Last Day Rs.3,205 per gram
Highest Price Rs.3,248 per gram on 4th and 10th August
Lowest Price Rs.3,205 per gram from 26th to 31st August
Trend Slight decline
Change -0.43%

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

  • Demand for gold was high in the first week of August.
  • The dollar was weak on account of dampened economic data from the U.S.
  • The global and domestic market was upbeat as the expectations of a U.S. Federal Reserve interest rate hike were low.
  • Gold traded at Rs.3,219 per gram on 1st August and remained constant till 3rd.
  • Though rates initially increased, the week ended with gold trading at Rs.3,206, a marginal decline in prices.

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

  • Gold traded at a steady pace in the second week of August.
  • Demand was stable in light of the upcoming festivals. Jewellers and retailers increased their intake to prepare for the high-demand season.
  • Gold traded at Rs.3,206 per gram on 8th and 9th August.
  • Prices climbed to Rs.3,248 per gram on 10th August put was quick to start falling again.
  • The volatility in prices could be attributed to the expectations of a Fed rate hike amid a weak U.S. economy.
  • Gold prices settled at Rs.3,226 per gram at the end of the week.

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

  • The pre-festive season demand kept gold prices stable this week..
  • Gold traded at Rs.3,226 per gram on 15th August.
  • On 18th August, gold rates climbed to Rs.3,238 per gram and remained constant for the rest of the week.
  • On the global front, the markets were dampened by increased prospects of a Fed rate hike in the month of September.

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

  • The impact of global trends affected the domestic markets in the fourth week of September.
  • Demand for the precious metal was sluggish and gold rates started to decline.
  • Gold traded at Rs.3,238 at the start of the week.
  • Prices gradually dropped to Rs.3,205 per gram on 26th August. This was the lowest price recorded for the month.
  • The week ended with a constant trend as sustained demand helped keep gold rates stable.

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

  • The constant trend of week 4 continued into the final week of August.
  • Gold traded at Rs.3,205 per gram, which was the lowest rate recorded for the month.
  • Investors in the global market lost their interest in gold due to the anticipated Fed rate hike.
  • Gold rates are expected to pick up in the domestic market as the festival season approaches.
  • However, trends in the global market indicate that prices will be volatile for longer.
1st July rate Rs.3,167
31st July rate Rs.3,219
Highest rate in July Rs.3,227 on 7th to 9th
Lowest rate in July Rs.3,163 on 22nd
Overall performance Gain/Positive
% Change + 1.64%

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

  • The trend for the first week of July was constant.
  • Gold traded at Rs.3,167 per gram on 1st July and climbed to Rs.3,203 per gram on 2nd.
  • Gold traded at the same price on 3rd July amidst the uncertain climate of the global markets.

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

  • The gold rates were at Rs.3,203 per gram on 4th July.
  • The Brexit vote and expectations of financial stimulus from the central banks coupled with a rising dollar led to a number of fluctuations for gold rates.
  • By the end of the week, gold prices stabilized and traded at Rs.3,227 per gram.

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

  • Gold prices stagnated through Week 3 due to the dollar recouping some of its previous losses.
  • Gold traded at Rs.3,226 per gram on 11th July but soon slipped to Rs.3,199 per gram.
  • Gold stayed constant through most of the week owing to domestic demand.

July ‘16 - Week 4 (18th to 24th)

  • Gold traded at Rs.3,199 till 21st July continuing the constant pace from week 3.
  • The global gold market was hit with strong U.S. economic data that shocked everyone.
  • Expectations of a U.S. fed rate hike grew as the dollar gained momentum.
  • Gold dipped again and traded at Rs.3,178 per gram by the end of the week.

July ‘16 - Week 5 (25th to 31st)

  • Going into the last week of July, gold picked up the same pace as the previous week. Gold traded at Rs.3,178 per gram on 25th and 26th.
  • Demand grew amongst domestic jewellers and gold prices rose to Rs.3,219 per gram.
  • The domestic gold market was more positive at the end of July.
1st June rate Rs.2,960
30th June rate Rs.3,167
Highest rate in June Rs.3,182 per gram on 28th June
Lowest rate in June Rs.2,950 per gram on 2nd June
Overall performance Rise
% Change +6.99%

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

  • Gold traded at Rs.2,960 per gram on the first day of the month.
  • Price of gold declined by Rs.10 the next day and stayed steady at Rs.2,950 per gram for the rest of the week.

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

  • Continuing from the previous day, the rate of gold was Rs.2,950 on the 5th of June and significantly increased after that.
  • Rate of gold was steady at Rs.3,003 per gram on the 6th and 7th of June and declined slightly after that.
  • Gold rate was steady at Rs.3,006 per gram on the 10th and 11th of June.

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

  • Price of gold was Rs.3,006 on the first day of the week and increased by Rs.50 the next day.
  • Gold was steady at Rs.3,066 per gram from the 14th to 16th of June.
  • Price of gold rose to Rs.3,109 per gram on the 17th and remained the same on the 18th as well.

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

  • There were many fluctuations in the rate of gold over the course of the week.
  • Gold opened at Rs.3,109 per gram on the 19th and stayed the same even on 20th june.
  • Prices increased after that until the 22nd after which gold rate declined to Rs.3,098 per gram and stayed the same until 25th June.

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

  • Price of gold was steady at Rs.3,098 per gram until the 27th and rose to Rs.3,182 per gram on 28th and 29th which was also the highest for the month.
  • Gold closed at Rs.3167 per gram on 30th June.
1st May rate Rs.3,119
31st May rate Rs.2,960
Highest rate in May Rs.3,120 from the 7th to the 9th of May
Lowest rate in May Rs.2,960 from the 28th to the 31st of May
Overall performance Loss / Negative
% Change -5.10%

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

  • Gold rates remained constant at Rs.3,119 for the first three days of the week after which a decline by Rs.41 saw prices drop to Rs.3,078 on the fourth day of trading.
  • Prices increased by Rs.20 to Rs.3,098 on the 5th and remained unchanged on the 6th as well.
  • The last day of the week saw gold rates rise by Rs.42 and finish strong at Rs.3,120.
  • In comparison with the first day of the week, prices increased by Re.1 during the first seven days of May 2016.

May ‘16 - Week 2 (8th to 14th)

  • Gold rates remained unchanged on the first and second day of the second week and prices were recorded at Rs.3,120 on the 8th and 9th of May.
  • A decline by Rs.40 on the third day of the week saw prices fall to Rs.3,080 and they remained stable until the end of the week.
  • The overall decline in rates from the start of the week to the end of the week was Rs.40.

May ‘16 - Week 3 (15th to 21st)

  • Gold rates remained stable at Rs.3,080 on the 15th and 16th of May after which an increase of Rs.18 on the 17th of the month saw prices climb to Rs.3,098.
  • A decline by Rs.30 on the 18th pushed prices down to Rs.3,068, and a further decline by Rs.20 on the 19th saw prices fall to Rs.3,048, and they remained unchanged until the end of the week.
  • The overall decline in gold prices at the end of the week in comparison with the first day of the week was Rs.32.

May ‘16 - Week 4 (22nd to 31st)

  • Gold prices remained stable at Rs.3,048 until the 24th of May, followed by a decline of Rs.30 which sent prices down to Rs.3,018 on the 25th.
  • A decline by Rs.10 on the 26th sent rates down to Rs.3,008 and they remained unchanged for another day.
  • Prices fell by Rs.48 on the 28th of May, marking the lowest rate of the precious metal during the month, at Rs.2,960, and they remained constant for the rest of the month.
  • The overall decline in prices between the first and last day of the month was Rs.159.
1st April rate Rs 2,943
30th April rate Rs 3,119
Highest rate in April Rs 3,119 on 30th
Lowest rate in April Rs 2,933 on 5th
Overall performance Gain/Positive
% Change + 5.98%

Apr ‘16 - Week 1 (1st to 3rd)

  • April began on a weak note for gold, as global demand was hit due to speculations about US rate changes.
  • Investors in the city also adopted a wait and watch policy, hitting gold trade.
  • Gold traded at Rs 2,943 on 1st, with no changes observed over the week.

Apr ‘16 - Week 2 (4th to 10th)

  • Gold rates gained over the week, with demand increasing among local investors.
  • Gold traded at Rs 2,943 on 4th, gaining momentum with each passing day.
  • The week ended with gold trading at Rs 2,988 on 10th, gaining over Rs 40 since the week started.

Apr ‘16 - Week 3 (11th to 17th)

  • An overall loss was seen over this week, with global cues impacting local rates.
  • Gold traded at Rs 2,988 on 11th and Rs 3,013 on 12th, giving a strong start to the week.
  • Prices fell over the next few days, with gold trading at RS 2,981 on 17th, ending the week on a loss of Rs 7.

Apr ‘16 - Week 4 (18th to 24th)

  • Fluctuations in gold rates continued, with international markets impacting local trade.
  • Gold traded at Rs 3,002 on 18th, gaining momentum over the first few days.
  • Rates peaked at Rs 3,017 before falling to Rs 3,007 on 24th.
  • The week ended on a strong note, with gold gaining Rs 5.

Apr ‘16 - Week 5 (25th to 30th)

  • Increased demand pushed gold rates through the week, giving it a much needed impetus.
  • Gold traded at Rs 3,007 on 25th and Rs 3,024 on 27th.
  • Prices continued to climb up, with gold ending the month on a high of Rs 3,119.
1st March rate Rs 3,030
31st March rate Rs 2,948
Highest rate in March Rs 3,030 on 1st and from 3rd to 14th
Lowest rate in March Rs 2,699 on 2nd
Overall performance Loss/Negative
% Change -2.71%

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

  • Gold rates at the start of the month were over the Rs 3,000 mark, with gold selling at Rs 3,030 on 1st.
  • Jewellers across the city joined protests against the excise duty hikes.
  • Prices fell on 2nd, dropping to Rs 2,699.
  • Prices regained after the fall, stabilising at Rs 3,030 throughout the week.

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

  • Protests continued into the second week, impacting gold trade.
  • Prices remained unchanged from the previous week, staying static at Rs 3,030.

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

  • As the intensity of protests reduced, a number of jewellers were back to business.
  • Prices fell below the Rs 3,000 mark on 15th, as gold traded at Rs 2,940
  • Prices inched towards the Rs 3,000 mark through the week, ending at Rs 2,998.

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

  • There were no major changes in gold rates in the week.
  • Prices fell from Rs 2,988 to Rs 2,948 on 25th and stayed at this mark till 27th.

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

  • Prices were constant through the week.
  • There was no change from Rs 2,948.
  • The month ended with gold having suffered a monthly loss of Rs 82.
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