Gold Rate In Bhubaneswar

Trend of Gold Rate in Bhubaneswar for March 2018 (rates per gram for 24 karat gold)

March 2018- Week 1 (1-4)

• Gold price in Bhubaneswar were stable in the first week of March, trading at Rs.3,143 per gram when trading opened on 1 March.
• Demand was steady and there was no change in price for most of the short week.
• International demand also saw little in the way of fluctuation in prices, which helped keep local prices stable.
• A jump was seen as the week ended, with gold trading at Rs.3,163 per gram on 4 March.

March 2018- Week 2 (5-11)

• There was some fluctuation in the price of gold in the second week, as market forces and international demand influenced local prices and demand.
• Gold was priced at Rs.3,163 per gram on 5 March but prices fell due to a slackening of demand from jewellers as the wedding season came to an end.
• Gold Price in Bhubaneswar fell to Rs.3,153 per gram on 7 March before rising to Rs.3,170 per gram on 8 March due to demand vagaries.
• Industrial demand was strong overseas but did not impact local prices much, which led to gold falling to Rs.3,143 per gram on 10 March.
• Gold Rate in Bhubaneswar rose marginally as the week ended on 11 March, trading at Rs.3,149 per gram.

March 2018- Week 3 (12-18)

• There was a decline in gold price in Bhubaneswar as markets and the dollar strengthened over the course of the week.
• Gold traded at Rs.3,149 per gram on 12 March but fell to Rs.3,136 per gram on 14 March as local demand fell.
• International demand was also muted as the dollar regained its value after positive unemployment data.
• Gold briefly rose to Rs.3,156 per gram on 15 March before prices once again plunged on declining orders from industry.
• The precious metal traded at Rs.3,132 per gram on 18 March as demand was low across domestic and international markets.

March 2018- Week 4 (19-25)

• Gold price in Bhubaneswar saw a steep rise towards the middle of the week as volatile geopolitical situations as well as a shake-up in the U.S. State Department led to markets plunging.
• The week opened with gold priced at Rs.3,132 per gram on 19 March, with prices rising to Rs.3,140 per gram on 21 March as U.S. stocks tried to recover from the surprise sacking of the U.S. Secretary of State.
• Gold rate in Bhubaneswar rose to Rs.3,162 per gram on 23 March as the dollar fell on market uncertainty over the Fed’s meeting and the possibility of economic tightening policies.
• Gold surged as the week ended, with the yellow metal trading at Rs.3,198 per gram on 25 March.

March 2018- Week 5 (26-31)

• The price of gold was steady towards the start of the week before a sharp drop in demand saw prices plunge later.
• Gold opened the week trading at Rs.3,198 per gram on 26 March as investor sentiment favoured safe-haven assets after a period of market turbulence.
• There was a gradual drop in price over the course of the week, with gold price in Bhubaneswar falling as industrial demand dropped.
• The yellow metal fell to Rs.3,192 per gram on 28 March before falling to Rs.3,179 per gram on 29 March as retail demand stagnated.
• Demand from jewellers was also poor, as gold fell further to Rs.3,159 per gram on 31 March.
• In spite of the sudden drop in price, gold rate in Bhubaneswar rose by 0.50% over the course of the month.

Trend of Gold Rate in Bhubaneswar for February 2018 (rates per gram for 24 karat gold)

February 2018- Week 1 (1 -4)

• The month began with gold trading at Rs.3,146 per gram in Bhubaneswar, with minor fluctuations in price recorded due to market vagaries.
• Gold price in Bhubaneswar rose to Rs.3,166 per gram on 3 February due to a surprise drop in equity markets, which led to higher interest in bullion as a hedge against equity losses.
• Local demand was muted in spite of it being the wedding season, which kept gold price in Bhubaneswar low throughout the week.
• The week ended with gold priced at Rs.3,140 per gram on 4 February.

February 2018- Week 2 (5-11)

• The second week saw the price of gold fluctuate as markets vacillated wildly, with the metal opening the week at Rs.3,140 per gram on 5 February.
• Demand from local jewelers was steady as the week began but slow industrial offtake led to the gold price in Bhubaneswar dropping marginally.
• In spite of markets plunging, there was little impact on the price of gold in Bhubaneswar as the metal traded at Rs.3,159 per gram on 7 February.
• Prices regularised soon after, with gold priced at Rs.3,126 per gram on 8 February as local demand failed to keep pace with global trends.
• The week ended with gold trading at Rs.3,105 per gram on 11 February.

February 2018- Week 3 (12-18)

• Prices rose steadily over the course of the third week as local demand was strong, though global cues were conflicting.
• Gold traded at Rs.3,105 per gram on 12 February before jumping to Rs.3,173 per gram on 16 February after Valentines Day sales.
• Industrial demand was sluggish but an increase in retail demand coupled with strong international cues led to the gold price in Bhubaneswar reaching their monthly high of Rs.3,191 per gram as the week ended on 18 February.

February 2018- Week 4 (19-25)

• Gold rate in Bhubaneswar remained constant as the week began before prices fell after regularisation of demand.
• Gold opened the week at Rs.3,191 per gram on 19 February but fell on inconsistent demand from industrial units as well as jewelers.
• International demand was also falling as the dollar capitalized on strong investor sentiment, leading to gold prices dipping.
• The week ended with gold priced at Rs.3,158 per gram on 25 February.

February 2018- Week 5 (26-28)

• The last week of February led to prices rising marginally as demand was on the increase.
• Gold in in Bhubaneswar was priced at Rs.3,158 per gram on 26 February as local retail demand was steady.
• An increase in overall demand for the metal overseas led to prices rising to Rs.3,163 per gram on 28 February.

Trend of Gold Rate in Bhubaneswar for January 2018 (rates per gram for 24 karat gold)

January 2018 – Week 1 (1st – 7th):

• In Bhubaneswar, gold was priced at Rs.3,009 per gram when January 2018 commenced.
• Gold price in Bhubaneswar went up to Rs.3,014 per gram on the 2nd as a brief fall in the dollar pushed demand up.
• However, the US dollar surged amid strong job gain data, which caused gold rate in Bhubaneswar to reach Rs.3,000 per gram.
• As demand from local investors rose, gold rates went up to Rs.3,015 per gram on the 5th of January.
• With local purchases increasing steadily, the yellow metal’s rates went up to Rs.3,021 per gram on the 6th of the month.
• When the month came to an end gold was still priced at Rs.3,021 per gram.

January 2018 – Week 2 (8th – 14th):

• Due to declining weekend cues, the gold rate in Bhubaneswar had dropped down to Rs.3,015 per gram on the 8th of January.
• Demand seemed to be uneven which caused prices to push up to Rs.3,021 per gram on the 9th before dropping to Rs.3,009 per gram on the 10th.
• With sales in the local circles rising, gold price in Bhubaneswar went up to Rs.3,030 per gram on the 11th of January. Gold improved on its previous day’s performance as the metal’s prices surged to Rs.3,045 per gram the next day.
• On the 13th, the Gold rate in Bhubaneswar went up again as the US dollar continued to weaken. The yellow metal traded at Rs.3,048 per gram on this day before rising to Rs.3,068 per gram on the 14th of January.

January 2018 – Week 3 (15th – 21st):

• When the third week of January started, gold was seen trading at a further improved rate of Rs.3,071 per gram.
• As a result of demand increasing gold price in Bhubaneswar moved up to Rs.3,086 per gram on the 16th before dropping to Rs.3,082 per gram on the 17th.
• Due to demand seemingly declining, the Gold rate went down to Rs.3,061 per gram on the 18th before rising by Rs.3 to Rs.3,064 per gram the next day.
• Over the final two days of this week, the yellow metal traded at Rs.3,084 per gram – a Rs.20 incline from the previous two days.

January 2018 – Week 4 (21st – 28th):

• This week saw gold price in Bhubaneswar rise significantly and reach one of the highest levels since the times of the economic meltdown in 2008.
• On the 21st of the month, gold was priced at Rs.3,084 per gram but dropped to Rs.3,078 per gram the next day.
• Gold rate in Bhubaneswar rose on the 23rd to Rs.3,087 per gram and continued at this rate on the 24th as well due to steady demand.
• Gold traded at Rs.3,127 per gram on the 25th of the month and continued more or less at this rate till the end of the week.

January 2018 – Week 5 (29th – 31st):

• The final week of January saw gold prices remain steady, thanks to stable demand.
• When the week began on the 29th, gold was priced at Rs.3,132 per gram and continued at this rate the next day as well.
• Due to a slight dip in demand, gold rate in Bhubaneswar went down to Rs.3,127 per gram on the final day of the month.
• Overall, gold price in Bhubaneswar trends saw a 3.90% incline over the course of the month as a consequence of a weak dollar and a strong local demand.