Delhi, the national capital, is also one of the largest consumers of gold in the country. All throughout the history of Delhi, gold has been a stable commodity used as jewelries, minted as coins, and also sold as pure gold bars and other forms. Gold rates in Delhi are influenced by various factors that have global implications.
Trend of Gold Rate in Delhi for April 2018 (rates per gram for 24 karat gold)
April 2018- Week 1 (1st-7th)
- Demand for gold in the capital city saw some upward movement towards the middle of the first week of April but trade ended flat due to declining demand.
- The precious metal traded at Rs.3,140 per gram on 1 April and remained constant the next day as demand was stagnant.
- Gold rate in Delhi jumped to Rs.3,161 per gram on 3 April as demand surged due to a fall in the dollar index, which made gold imports cheaper.
- Industrial demand overseas also rose, which propped up domestic prices and gave impetus to local industrial demand.
- A recovering dollar led to equity markets inching higher, as investors lost interest in gold and the gold price in Delhi fell to Rs.3,145 per gram on 4 April.
- The downward trends continued as retail demand dropped sharply following the end of the wedding season.
- Gold fell to Rs.3,129 per gram on 6 April as the U.S. Dollar rallied on positive U.S. non-farms data as well as low unemployment figures, which put pressure on gold.
- With news of additional tariffs being imposed on China, stock markets fell sharply and interest in gold increased, resulting in gold rising to Rs.3,140 per gram on 7 April.
April 2018- Week 2 (8th -15th)
- The week began in Delhi with gold trading at Rs.3,140 per gram.
- Local demand was largely steady for most of this week and gold prices saw little change for the first four days.
- From the 8th to the 11th, gold continued to trade at Rs.3,140 per gram.
- This, however, changed on the 12th as global cues improved amidst the beginning of a war between the US and Syria.
- Gold rates surged to Rs.3,166 per gram on the 12th before rising to Rs.3,197 per gram the next day.
- Even though gold demand was high in the international market, rates dropped in Delhi owing to saturated demand.
- On the 14th, the yellow metal traded at Rs.3,171 per gram before rising to Rs.3,187 per gram the next day.
- The rise on the last day of this week was due to the combined strikes on Syria by the US, France and England.
April 2018 – Week 3 (16th – 22nd)
- In the national capital, gold opened trading at Rs.3,208 per gram on the 16th with the bullion capitalising on the US-led missile strikes on Syria.
- Prices plunged to Rs.3,192 per gram the next day after the US dollar gained on a positive US housing and industrial production report for the month of March.
- Gold rate in Delhi rose marginally to Rs.3,197 per gram on the 18th after the rallying base metal markets fuelled fears of inflationary pressure on the international market.
- Rates remained unchanged at Rs.3,197 per gram the next day with gold supported by the persiting US-China trade war concerns.
- The 20th saw gold rates in Delhi rising by Rs.27 per gram to Rs.3.224 per gram following an incline in safe-haven demand for the metal amid global political tensions.
- Gold prices plunged to Rs.3,213 per gram on the 21st before rising again to Rs.3,218 per gram on the last day following an increased buying by local jewellers to meet wedding season demand at the domestic level.
Trend of Gold Rate in Delhi for March 2018 (rates per gram for 24 karat gold)
| Parameters | Gold price (24 karat) |
| Gold Rate on 1st March 2018 | Rs.3,113 per gram |
| Gold Rate on 31st March 2018 | Rs.3,134 per gram |
| Highest Rate in March | Rs.3,171 per gram on 25 and 26 March |
| Lowest Rate in March | Rs.3,098 per gram on the 19 and 20 March |
| Overall Monthly Performance | Incline |
| Percentage Change | 0.67% |
March 2018 – Week 1 (1 – 5):
- The price of gold was recorded at Rs.3,108 per gram on 1 March in Delhi, as there was no significant change in demand as the month began.
- Gold price in Delhi rose sharply to trade at Rs.3,134 per gram on 3 March as equity markets across the world were thrown into chaos over the surprise announcement of the imposition of import tariffs on aluminium and steel in the U.S.
- Local demand rose marginally as the Dollar fell heavily, making gold imports cheaper.
- An increase in gold imports in China also kept prices stable, with a few minor fluctuations recorded over the week.
- Gold traded at Rs.3,129 per gram on 5 March as prices began to regularise following the sudden spike.
March 2018 – Week 2 (5-11):
- Gold was seen trading at Rs.3,129 per gram when trading began in Delhi for the second week of March.
- Due to a strong dollar performance, gold rates dropped by Rs.10 and the metal traded at Rs.3,119 per gram on the 6th of March.
- As the US dollar weakened, gold rates surged to Rs.3,a40 per gram on the 7th before dropping back to Rs.3,129 per gram on the 8th. The fall happened as the dollar bounced back while demand seemed to saturate.
- The 9th saw gold rates drop again to Rs.3,113 per gram as investor sentiment remained quite weak.
- With the US dollar seeing a decline amid poor wage gains, gold rates went back up to Rs.3,134 per gram on the 10th of March.
- The week ended with gold still trading at Rs.3,134 per gram.
March 2018 – Week 3 (12 – 18):
- When trading began in Delhi, the bullion prices were recorded holding at Rs.3,134 per gram on the 12th with steady domestic demand amid firm trend overseas.
- With the US dollar index rising against other apex currencies ahead of the US consumer price report, prices plunged to Rs.3,124 per gram on the 13th.
- Rates remained unchanged at Rs.3,124 per gram the next day with steady domestic demand from local jewellers and retailers despite the poor trends overseas.
- The 15th saw gold prices in Delhi edging higher to Rs.3,129 per gram with trade war concerns weighing on stock markets.
- However, with the dollar strengthening amid expectations over a possible interest rate hike by the Federal Reserve next week, gold rates dropped to Rs.3,119 per gram on the 16th.
- With markets bracing for the first interest rate hike this year, the US dollar rose further. This led to the bullion prices plunging to Rs.3,103 per gram the following day.
- The week came to an end with gold rates in Delhi holding firm at Rs.3,103 per gram on the 18th with reduced local demand amid the weak trends overseas.
March 2018 – Week 4 (19 – 25):
- Gold was priced at Rs.3,098 per gram when trading opened in Delhi on 19 March as prices showed minor dips due to demand vagaries.
- Gold price in Delhi jumped in a single day as the metal climbed to Rs.3,113 per gram on 20 March following a drop in the dollar value, which spurred greater demand for bullion.
- Prices dropped marginally as local demand fell, but global demand for the metal was high as investors were jittery ahead of the Fed meeting on monetary policy.
- Fewer interest rate hikes caused consternation among investors, which led to a market slump and increased interest in gold.
- The gold traded at Rs.3,134 per gram on 22 March and rose to Rs.3,171 per gram on 24 March as demand for gold continued to climb.
- Higher demand from Asian markets as well as generally poor equity results led to gold becoming a more attractive investment option.
- The week ended with gold rate in Delhi at Rs.3,171 per gram on 25 March, as market conditions and a low dollar rate helped keep prices stable.
March 2018 – Week 5 (26 – 31):
- The bullion trade opened in Delhi with the metal trading strong at Rs.3,171 on the 26th with gold holding its five-week high from the previous session amid possible trade war fears.
- However, with the trade war being diverted following negotiations between the US and China, the US dollar surged. This led to gold rates plummeting to Rs.3,161 per gram on the 27th.
- The dollar index lost against a basket of currencies with tensions rising between the US and Russia the next day. This led to gold price in Delhi rising to Rs.3,166 per gram on the 28th.
- Firm trends overseas coupled with steady demand led to bullion prices remaining untouched at Rs.3,166 per gram on the 29th.
- The dollar, however, regained lost ground despite a drop in equities amid the US-China stand-off and gold was priced at Rs.3,134 per gram on the 30th.
- The week ended with the precious metal trading firm at Rs.3,134 per gram on account of a subdued but steady domestic demand from local jewellers, retailers and industries.
- Gold rates in Delhi surged by 0.67% due to the firm trends overseas that pushed demand higher during the month.
Trend of Gold Rate in Delhi for February 2018 (rates per gram for 24 karat gold)
| Parameters | Gold price (24 karat) |
| Gold rate on 1st February 2018 | Rs.3,077 per gram |
| Gold rate on 28th February 2018 | Rs.3,129 per gram |
| Highest Rate in February | Rs.3,161 per gram on 17 and 18 February |
| Lowest Rate in February | Rs.3,035 per gram on 9 February |
| Overall Monthly Performance | Incline |
| Percentage Change | 1.68% |
February 2018 – Week 1 (1st – 4th)
- The bullion trade in Delhi opened with gold priced at Rs.3,077 per gram on the 1st with steady demand from local jewellers, retailers and industries.
- Despite the well performing US dollar and rising equities, gold rate in Delhi remained unchanged throughout the week.
- Gold price in Delhi remained unchanged at Rs.3,077 per gram on the 2nd and 3rd with stable domestic demand for the precious metal.
- The rising dollar rates didn’t seem to have any effect on the demand in Delhi. The bullion was trading steady at Rs.3,077 per gram on the 4th when the week ended.
February 2018 – Week 2 (5th -11th)
- Gold rate in Delhi declined gradually from most part of the week due to poor local demand.
- When the week began, gold was priced at a respectable Rs.3,082 per gram. But, as domestic demand was weak, gold prices went down to Rs.3,066 per gram the next day.
- Over the 7th and the 8th of February, gold traded at Rs.3,066 per gram as a weak dollar had a bullish effect on trading.
- The 9th saw gold price in Delhi drop to Rs.3,035 per gram as a strong dollar influenced the sentiments of local investors.
- The 10th witnessed a surge in local demand, which led to a Rs.15 increase in prices and the metal traded at RS.3,050 per gram.
- WIth the demand continuing to remain steady, gold rates rose again on the 11th and gold was seen selling at Rs.3,056 per gram on the final day of the week.
February 2018 – Week 3 (12th – 18th)
- In Delhi, the bullion was recorded trading at Rs.3,056 per gram on the 12th amid the declining US dollar index and equities ahead of the US inflation data later during the week.
- With investors and traders watching out for the data for clues on the pace of the US interest rate hikes, prices surged to Rs.3,087 per gram on the 13th.
- On the 14th, gold price in Delhi were recorded holding at Rs.3,098 per gram with an increase in domestic demand from local jewellers, industries and retailers amid the firm trend overseas.
- Gold rate in Delhi rose marginally to Rs.3,103 per gram on the 15th before surging to Rs.3,140 per gram on the 16th with the US dollar index losing considerably against other apex currencies.
- The 17th witnessed prices remaining untouched at Rs.3,140 per gram owing to the steady demand brought about by the firm trend overseas.
- The week came concluded with the precious metal priced at R.3,161 per gram on the 18th after local demand spiked amid the strong global cues.
February 2018 – Week 4 (19th – 25th)
- Gold rate in Delhi were affected by the dominant performance put up by the US dollar this week.
- On the 19th of February, gold was priced at Rs.3,161 per gram in the national capital. This dropped to Rs.3,150 per gram the next day as the US dollar recorded an improvement after consistently underperforming over the previous few outings.
- Buoyed by the unveiling of the upcoming Fed Reserve minutes, the greenback strengthened its hold against a basket of major currencies. This caused gold price in Delhi to plummet to Rs.3,134 per gram as demand declined.
- The 23rd again saw rates drop – this time to Rs.3,119 per gram – as a rising dollar contributed to poor gold sales.
- However, a rise in demand was witnessed on the 24th, which led to gold trading at Rs.3,124 per gram on the 24th of February.
- With demand remaining steady, gold continued to trade at Rs.3,124 per gram till the end of the week.
February 2018 – Week 5 (26th – 28th)
- The final week began in Delhi with the bullion priced at Rs.3,124 per gram on the 26th following a steady demand from local jeweller, retailers and industries.
- On the 27th, gold rate in Delhi rose to Rs.3,134 per gram with investors awaiting Fed Chairman Jerome Powell’s first congressional speech to the nation.
- The month came to an end with gold prices plunging to Rs.3,129 per gram on the 28th after the US dollar rose against a basket of other emerging currencies in the global trade.
- Gold price in Delhi rose by 1.68% owing to the strong trends overseas that pushed demand higher for the metal during the month.
Trend of Gold Rate in Delhi for January 2018 (rates per gram for 24 karat gold)
| Parameters | Gold price (24 karat) |
| Gold Rate on 1st January 2018 | Rs.3,010 per gram |
| Gold Rate on 31st January 2018 | Rs.3,066 per gram |
| Highest Rate in January | Rs.3,115 per gram on 15, 16, 20 and 21 January |
| Lowest Rate in January | Rs.3,010 per gram 1 and 2 January |
| Overall Monthly Performance | Incline |
| Percentage Change | 1.86% |