Gold rates fluctuate according to market conditions and availability and there is an ever growing demand for gold in Ahmedabad. Residents of Ahmedabad are undeterred by fluctuating gold rates and have embraced it with both hands.
Gold buyers in Ahmedabad can opt for either 22 karat gold, which is 92% pure or 24 karat gold, which is 99.9% pure.
Trend of Gold Rate in Ahmedabad for March 2018 (rates per gram for 24 karat gold)
| Parameters | Gold price (24 karat) |
| Gold Rate on 1st March | Rs.3,159 per gram |
| Gold Rate on 31st March | Rs.3,149 per gram |
| Highest Rate in March | Rs.3,182 per gram from 27 to 30 March |
| Lowest Rate in March | Rs.3,109 per gram on 20 March |
| Overall Monthly Performance | Decline |
| Percentage Change | -0.31% |
March 2018 – Week 1 (1 – 4):
- In Ahmedabad, gold rate in Gujarat varied significantly during the first week due to the uneven global cues that resulted in domestic demand vagaries.
- When trading opened for the week, the precious metal prices were recorded holding at Rs.3,159 per gram on the 1st.
- However, with the US dollar tracking a positive trend amid the well-performing equities market, demand for the metal dwindled. This led to gold prices plunging to Rs.3,158 per gram on the 2nd.
- Gold continued trading at Rs.3,138 per gram on the 3rd with subdued but steady demand from local jewellers, retailers and industries.
- The 4th saw gold rates rebounding to Rs.3,149 per gram with the US dollar losing against a basket of currencies amid the losing equities.
March 2018 – Week 2 (5 – 11):
- Uneven trends overseas coupled with varying domestic demand led to gold price in Gujarat fluctuating throughout the week.
- The week began with the yellow metal priced at Rs.3,149 per gram on the 5th amid firm global cues from the previous week.
- The 6th witnessed bullion prices rising to Rs.3,154 per gram before plunging to Rs.3,144 per gram the next day as the dollar regained lost ground in the international market.
- Local demand, however, picked up the next day with an increased buying by jewellers and retailers despite the poor trend overseas. This led to gold being priced at Rs.3,161 per gram on the 8th.
- The dollar continued to rise during the week after the US non-farm data and unemployment reports proved to be stronger than expected in the nation.
- Poor overseas trends coupled with reduced domestic demand for the metal led to gold rate in Gujarat dropping to Rs.3,149 per gram on the 9th which plunged further to Rs.3,134 per gram on the 10th.
- The week came to an end with the yellow metal priced relatively higher at Rs.3,138 per gram on the 11th with a slight incline in demand for the metal.
March 2018 – Week 3 (12 – 18):
- The week saw the bullion trade in Ahmedabad hitting their lowest monthly figures after the commodity asset failed to take advantage of the failing stock markets during the week.
- Gold was recorded trading at Rs.3,138 per gram on the 12th when the week began.
- Gold rate in Gujarat remained unaltered at Rs.3,138 per gram the next day before plunging to Rs.3,139 per gram on the 14th amid poor international trends.
- However, the sudden dismissal of the US Secretary of State Rex Tillerson by the US President led to stock markets failing. This led to gold price in Gujarat rebounding to Rs.3,149 per gram on the 15th.
- The next few days saw gold prices plummeting as the US dollar regained lost ground in the international markets. The yellow metal was priced at Rs.3,144 per gram and Rs.3,120 per gram on the 16th and the 17th respectively.
- The week concluded with the bullion trading at Rs.3,119 per gram on the 18th with poor domestic demand amid weak global cues.
March 2018 – Week 4 (19 – 25):
- The week commenced with the yellow metal prices holding steady at Rs.3,119 per gram on the 19th with no significant change in domestic orders amid the poor trend overseas.
- The 20th saw gold rate in Gujarat plunging to Rs.3,109 per gram after as US dollar rose against other apex currencies after stock markets recovered from their previous rally of losses.
- However, an increase in demand by investors and traders after tracking a strong trend overseas led to gold price in Gujarat surging to Rs.3,134 per gram on the 21st.
- Though the precious metal prices plunged to Rs.3,129 per gram on the 22nd, strong demand from local jewellers and retailers resulted in gold prices holding steady at Rs.3,149 per gram for the remainder of the week.
March 2018 – Week 5 (26 – 31):
- The last week saw gold rate in Gujarat greatly influenced by the Federal Reserve’s monetary policy for the year and the impact of the news of the new US Secretary of State John J Sullivan on the markets.
- The week opened with gold trading at Rs.3,175 per gram on the 26th with strong domestic demand amid firm overseas trends.
- With the US greenback losing against a basket of currencies amid the poorly performing stocks, gold rates rose to Rs.3,182 per gram on the 27th.
- Strong demand compounded by positive global cues led to gold rates in Ahmedabad remaining untouched at Rs.3,182 per gram until the 30th.
Trend of Gold Rate in Ahmedabad for February 2018 (rates per gram for 24 karat gold)
| Parameters | Gold price (24 karat) |
| Gold Rate on 1st February 2018 | Rs.3,138 per gram |
| Gold Rate on 28th February 2018 | Rs.3,159 per gram |
| Highest Rate in February | Rs.3,175 per gram on 20 February |
| Lowest Rate in February | Rs.3,092 per gram on 9 and 10 February |
| Overall Monthly Performance | Incline |
| Percentage Change | 0.66% |
February 2018 – Week 1 (1 – 4):
- Gold opened at Rs.3,138 per gram when February’s trading began in Ahmedabad.
- Gold price in Ahmedabad were the same on the 2nd but surged to Rs.3,162 per gram on the 3rd because there was an increased demand for the metal from investors.
- Gold traded at Rs.3,138 per gram on the 4th of the month as demand took a hit as the US dollar shook off its losses to surge against other currencies.
February 2018 – Week 2 (5 – 11):
- There was no change in gold price in Ahmedabad when the second week of February began on the 5th of February. The metal traded at Rs.3,138 per gram over the course of this day before dropping to Rs.3,124 per gram as the dollar improved again.
- However, the surge of the USD wasn’t sustainable with the prevailing marketing conditions and the administration, which gave enough reasons for gold rate in Ahmedabad to improve.
- On the 7th, the yellow metal traded at a significantly better rate of Rs.3,154 per gram as local demand was also on the rise. But, demand went down the next day and prices went back down to Rs.3,124 per gram.
- Equity markets, which were under performing to a large extent this week, showed major gains and hence pushed gold demand down.
- Gold rates in Ahmedabad went down to Rs.3,092 per gram on the 9th before holding on till the closing hours of the 10th.
- On the final day of this week, i.e., the 11th of February, gold prices rebounded to hit Rs.3,103 per gram.
February 2018 – Week 3 (12 – 18):
- The third week began with gold continuing to trade at Rs.3,103 per gram, which then jumped to Rs.3,113 per gram the next day.
- During the 14th of February, demand for gold increased for the yellow metal traded at Rs.3,120 per gram.
- As recorded, gold rate in Ahmedabad were mostly on the incline this week, which was made possible by a weak dollar and the subsequent increase in demand.
- Gold price in Ahmedabad went up slightly to Rs.3,129 per gram on the 15th and surged by Rs.27 to trade at Rs.3,156 per gram on the 16th of the month.
- The 17th saw gold trade at Rs.3,156 per gram and rates went up again on the 18th to Rs.3,165 per gram as demand was on the increased.
February 2018 – Week 4 (19 – 25):
- On the 19th of February, when the fourth week began, gold was trading at Rs.3,171 per gram.
- This rose slightly to Rs.3,175 per gram as demand from jewellers and other quarters in the city was on the incline.
- The 21st, however, recorded a Rs.25 slump to bring rates down to Rs.3,150 per gram as local demand weakened while the dollar index hit positive figures.
- Gold rate in Ahmedabad slumped gradually this week and the metal traded at Rs.3,145 per gram on the 22nd, which then went down to Rs.3,140 per gram on the 23rd.
- Over the 24th, gold prices in Ahmedabad held on at Rs.3,140 per gram as demand was low yet stable.
- Gold price in Ahmedabad increased to Rs.3,149 per gram on the last day of this week due to positive global cues.
February 2018 – Week 5 (26 – 28):
- Gold traded at Rs.3,149 per gram on the 26th of February before continuing at the same rate on the next day as well.
- The final day of February saw gold sell at an improved rate of Rs.3,159 per gram.
- Overall, gold price in Ahmadabad trends saw a 0.66% increase over the course of this month, thanks to a volatile stock market and a burgeoning local demand.
Trend of Gold Rate in Ahmedabad for January 2018 (rates per gram for 24 karat gold)
| Parameters | Gold price (24 karat) |
| Gold Rate on 1st January 2018 | Rs.3,086 per gram |
| Gold Rate on 31st January 2018 | Rs.3,120 per gram |
| Highest Rate in January | Rs.3,171 per gram on 25 January |
| Lowest Rate in January | Rs.3,086 per gram on 1 and 2 January |
| Overall Monthly Performance | Incline |
| Percentage Change | 1.10% |
January 2018 – Week 1 (1th to 7th):
- The month began in Ahmedabad with gold trading at Rs.3,086 per gram on the 1st.
- Prices remained unchanged at Rs.3,086 per gram on the 2nd with steady demand from local jewellers, retailers and industries.
- The 3rd, however, saw gold rate in Ahmedabad rising to Rs.3,091 per gram with the US dollar index gaining against a basket of other apex currencies.
- Though rates remained unaltered at Rs.3,091 per gram on the 4th, a rise in the dollar value ahead of the US employment and payrolls’ data led to prices dropping to Rs.3,082 per gram on the 5th.
- Thanks to an increased buying by investors, gold price in Ahmedabad surged to Rs.3,096 per gram on the 6th before rising further to Rs.3,101 per gram on the 7th amid positive overseas trends.
January 2018 – Week 2 (8th to 14th):
- Steady domestic demand coupled with firm global cues resulted in the week opening with the yellow metal priced at Rs.3,101 per gram on the 8th.
- The gold price in Ahmedabad remained untouched at Rs.3,101 per gram on the 9th before surging to Rs.3,107 per gram on the 10th with the US dollar index losing against other major currencies in the global trade.
- Though rates dropped to Rs.3,102 per gram on the 11th, the poorly performing equity markets coupled with the losing dollar resulted in prices surging to Rs.3,117 per gram on the 12th.
- The 13th saw gold rate in Ahmedabad surging to Rs.3,119 per gram amid the strong global trends.
- The week concluded with the precious metal priced at Rs.3,130 per gram on the 14th owing to an increased demand for the safe-haven metal amid the poorly performing equities.
January 2018 – Week 3 (15th to 21st):
- Trading commenced for the third week in Ahmedabad with the bullion priced at Rs.3,130 per gram on the 15th following steady domestic demand from local retailers, industries and jewellers.
- Gold continued trading at Rs.3,130 per gram on the 16th before rising to Rs.3,170 per gram the following day with the US dollar index losing ground against a basket of other emerging currencies amid the losing equity markets.
- The 18th saw gold rate in Ahmedabad plunging to Rs.3,165 per gram which dropped further to Rs.3,145 per gram on the 19th after the US greenback began regaining lost ground from the previous day’s losses.
- A steady but subdued domestic demand amid the poor global cues resulted in gold being priced at Rs.3,145 per gram on the 20th.
- However, demand picked up the next day with investors ramping up purchases amid positive overseas trends. The yellow metal was recorded trading at Rs.3,155 per gram on the 21st.
January 2018 – Week 4 (22nd to 28th):
- The week began with the bullion prices holding steady at Rs.3,155 per gram on the 22nd, which continued to remain unchanged the next day amid firm overseas trends.
- The 24th saw gold rate in Ahmedabad surging to Rs.3,165 per gram with an increase in domestic demand following positive trends globally.
- Gold rates in Ahmedabad rose further to Rs.3,171 per gram – the highest recorded monthly figure – on the 25th with the bullion hitting 16-month highs in the international trade.
- However, with the US dollar index and equity markets regaining lost ground over the next few days, demand for the bullion plunged.
- Poor global demand coupled with reduced domestic demand resulted in gold price in Ahmedabad closing at Rs.3,134 per gram on the 28th.
January 2018 – Week 5 (29th to 31st):
- Trading commenced in the city with the yellow metal prices holding at Rs.3,143 per gram on the 29th with steady demand for the bullion.
- With the US dollar rising against other apex currencies and equities performing well against the commodity market, gold rate in Ahmedabad declined towards the end of the month.
- Gold Price in Ahmedabad dropped to Rs.3,129 per gram on the 30th before plummeting to Rs.3,120 per gram on the last day with the US dollar strengthening ahead of the two-day monetary policy meeting next month.
- The bullion trade in Ahmedabad registered a profit of 1.10% during the course of the month.