Gold Price in Lucknow
Gold in India is bought primarily as jewelry and ornaments, and secondarily as a means of investment. The case is no different in Lucknow, the capital city of the state of Uttar Pradesh. The “golden city” as it’s called is home to over 4 million people and is a highly developed urban city.
| Date | Standard Gold (22 K) | Pure Gold (24 K) | ||
| 1 gram | 8 grams | 1 gram | 8 grams | |
| 25 Feb 2018 | ₹ 2,975 | ₹ 23,800 | ₹ 3,124 | ₹ 24,992 |
| 24 Feb 2018 | ₹ 2,975 | ₹ 23,800 | ₹ 3,124 | ₹ 24,992 |
| 23 Feb 2018 | ₹ 2,970 | ₹ 23,760 | ₹ 3,119 | ₹ 24,952 |
| 22 Feb 2018 | ₹ 2,975 | ₹ 23,800 | ₹ 3,124 | ₹ 24,992 |
| 21 Feb 2018 | ₹ 2,985 | ₹ 23,880 | ₹ 3,134 | ₹ 25,072 |
| 20 Feb 2018 | ₹ 3,000 | ₹ 24,000 | ₹ 3,150 | ₹ 25,200 |
| 19 Feb 2018 | ₹ 3,010 | ₹ 24,080 | ₹ 3,161 | ₹ 25,288 |
| 18 Feb 2018 | ₹ 3,010 | ₹ 24,080 | ₹ 3,161 | ₹ 25,288 |
| 17 Feb 2018 | ₹ 2,990 | ₹ 23,920 | ₹ 3,140 | ₹ 25,120 |
| 16 Feb 2018 | ₹ 2,990 | ₹ 23,920 | ₹ 3,140 | ₹ 25,120 |
Market Rates & Gold Price Trends in Lucknow
The gold rate fluctuates, and it is during these fluctuations that investors can make money. At the start of April, 2015, the cost for 1 gram of 24 karat gold was Rs.2,649 and went up to Rs.2,738 by the start of May, 2015. By mid-May, the gold rate hit Rs.2,782, and dropped to Rs.2,722 by the start of June. In June, the gold rate had dropped down to Rs.2,697, but has now risen and is plateaued at Rs.2,701 (as on 15th June 2015). Studying these fluctuations is the key to smart investing and eventually growing your finances by investing in gold in Lucknow.
Buying Gold in Lucknow
One can purchase gold as an investment, or as jewelry from many stores and traders across the city such as Tanishq Jewellery, P C Jewellers, ORRA, Khaleej Times, Bombay Gold Palace, Painter Gold Stores, J M D Gold Jewellers, Reliance Jewels, etc.
When buying gold in Lucknow, it is highly recommended that you approach a certified and well established dealer, and ensure that the gold is stamped, engraved or in some way certified and determined to be real gold of whichever purity you choose – 22 karat or 24 karat. Make sure that you also get a certificate of authenticity which contains details of purity, rate on the date of purchase and the amount of gold purchased – along with the gold.
Investing in Gold in Lucknow
Gold bullion is gold that is bought from a certified authority, and is in the form of bars, tablets or standard-sized pieces, used primarily as an invested commodity. These bars, etc. are available at the current price per gram multiplied by the amount of grams you wish to buy. Gold bullion is generally traded in weightages over 500 grams, the most common being 1 kilo. Most gold bullion is internationally tradable, depending on the body from which you purchase the gold.
Gold coins are the most common form of gold investment in Lucknow and the rest of India. While gold bullion is the safer, better and more accepted version of tradable gold, gold coins are far easier to acquire – as they are cheaper, smaller and represent smaller investments. Fluctuations in the price effect bullion and coins in the same way, and the risk and reward will be proportional to the amount of cash invested in gold. Gold coins are available from most gold merchants and the weightages available range from 1 gram to 500 grams.
Jewelry and ornaments are still the largest form in which gold is bought and sold in India. While there are more pure forms of gold that are far more easily tradable, transportable and storable – most Indians prefer to buy gold in the form of jewelry and ornaments. This is to increase the utility of the asset in terms of a daily use item and also as a means of preserving the asset value, should the need arise to sell it.