Gold rate plays an important role for business and investment deals in Indore. Gold can be used as an asset to get loans from the banks as well. Indore’s population is at 2.161 million as of 2011, thus increasing the demand for gold in Indore.
Gold as an investment:
Gold can be bought in the form of jewelry, gold coins, gold bars and traded etc.
Jewelry – In Indian households, every person wears gold as a jewelry and they don’t look at it as a form of investment. They are purchased during major occasions such as wedding, festivals etc. But, gold jewelry is lower in value when reselling ornaments, considering making charges and wastage.
Gold Coins – This is the common form of owning gold as an investment. The rates are prices on its weight and a small premium based on its supply and demand.
Gold bars – They are the most traditional way of investing in gold. This can be traded in the international markets as well.
Gold Exchange Traded Fund – It is a type of mutual fund which invests in gold and the units of the mutual fund scheme is listed in the stock exchange. You need to open a demat account and trading account. A brokerage fee is charged for buying and selling the Gold ETFs.
Trend of Gold Rate in Indore for March 2018 (rates per kg)
| Parameters | Gold price (per gram) |
| Gold Rate on 1st March 2018 | Rs.3,147 per gram |
| Gold Rate on 31st March 2018 | Rs.3,148 per gram |
| Highest Rate in March | Rs.3,148 per gram on 8, 9 and from 24 to 31 March |
| Lowest Rate in March | Rs.3,123 per gram from 17 to 23 March |
| Overall Monthly Performance | Incline |
| Percentage Change | 0.03% |
Trend of Gold Rate in Indore for February 2018 (rates per gram for 24 karat gold)
| Parameters | Gold price (24 karat) |
| Gold Rate on 1st February 2018 | Rs.3,128 per gram |
| Gold Rate on 28th February 2018 | Rs.3,147 per gram |
| Highest Rate in February | Rs.3,148 per gram on 3, 4, 5, 7 and from 17 to 22 February |
| Lowest Rate in February | Rs.3,091 per gram from 9-11 February |
| Overall Monthly Performance | Incline |
| Percentage Change | 0.60% |
February 2018- Week 1 (1-4):
- Gold prices in Indore were on the rise in the first week of February as steady demand and favourable market forces kept prices consistent.
- The yellow metal traded at Rs.3,128 per gram on 1 February as local jewellers increased orders following a drop in the dollar rate, which made imports cheaper.
- Prices in the international market were also on the increase as Asian industry increased demand for the metal, as gold prices rose to Rs.3,148 per gram on 3 February.
- There was no change in price as the week ended on 4 February with gold staying steady at Rs.3,148 per gram on consistent demand.
February 2018- Week 2 (5-11):
- Gold price in Indore fluctuated in the second week due to conflicting cues and market instability, which negatively impacted gold rates.
- Gold opened the week at Rs.3,148 per gram on 5 February before falling to Rs.3,125 per gram on 6 February due to a sharp drop in local demand.
- A rise in the dollar rate led to a reduction in demand for bullion overseas, which also resulted in a drop in local demand for the precious metal.
- The drop in price continued for the rest of the week, with gold trading at Rs.3,091 per gram on 9 February as retail demand was also poor.
- Positive employment data from the U.S. boosted equity markets as interest in gold dropped, with gold priced at Rs.3,091 per gram on 11 February.
February 2018- Week 3 (12-18):
- After an initial drop in value, gold prices began to rise on positive market cues and an increase in demand from both local jewellers as well as overseas industry.
- Gold was priced at Rs.3,103 per gram on 12 February, with no change in price observed for a few days.
- In spite of it being the wedding season and gold trading relatively low, there was muted retail demand, which resulted in prices stagnating.
- International demand rose as European markets dropped, which led to an increase in orders and price, with gold trading at Rs.3,129 per gram on 16 February.
- Gold price in Indore jumped to Rs.3,148 per gram on 17 February as turbulent global markets led to a surge in demand for bullion, with prices staying constant for the rest of the week.
February 2018- Week 4 (19-25):
- There was no change in the price of gold as the fourth week began as steady local demand and a rise in industrial offtake balanced fluctuations in the international market.
- Gold traded at Rs.3,148 per gram on 19 February and stayed constant for a few days.
- Asian industry increased orders due to a minor drop in the dollar rate, but gold price in Indore fell marginally to trade at Rs.3,145 per gram on 23 February.
- Prices did not fluctuate for the rest of the week as an equity market recovery kept demand for gold muted, and the week ended with gold priced at Rs.3,145 per gram on 25 February.
February 2018- Week 5 (26-28):
- A minor rise in gold price in Indore was recorded in the last week of February as demand was more or less consistent.
- Gold was priced at Rs.3,145 per gram on 26 February as retail demand as well as industrial offtake was steady.
- Prices rose to Rs.3,147 per gram on 27 February, with the price remaining unchanged as the month ended on 28 February.