Apr 30
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Gold Rate in Panaji
Panaji primary demand for gold is for use as jewelry. Investments are the next greatest demand driver. Despite the importance of the yellow precious metal being more for the sake of ornamentation. It is important to know gold rates in the city located in one of the most pleasant states in India, Goa since the state is very prosperous and there are more than often people who can afford it as a wealth investment in this part of the country.
Trend of Gold Rate in Panaji for March 2018 (rates per gram for 24 karat gold)
| Parameters | Gold price (24 karat) |
| Gold Rate on 1st March | Rs.3,014 per gram |
| Gold Rate on 31st March | Rs.3,019 per gram |
| Highest Rate in March | Rs.3,045 per gram on 25, 26, 28 and 29 March |
| Lowest Rate in March | Rs.2,977 per gram on 19 March |
| Overall Monthly Performance | Incline |
| Percentage Change | 0.16% |
March 2018 – Week 1 (1st – 4th):
- Gold opened at Rs.3,014 per gram on the 1st of March – a relative strong note – before declining to Rs.2,987 per gram on the 2nd.
- The steep Rs.27 drop was largely due to poor local demand even though global cues remained considerably steady.
- However, gold rates went up to Rs.3,007 per gram on the 3rd, thanks to a strong local demand.
- On the 4th, prices dipped slightly to end the week at Rs.3,003 per gram.
March 2018 – Week 2 (5th – 11th):
- The second week began with gold rates still continuing at Rs.3,003 per gram before rising to Rs.3,008 per gram on the 6th.
- A slowdown in demand brought prices down to Rs.2,998 per gram, which then surged to Rs.3,019 per gram on the 8th of March.
- As demand was highly topsy-turvy, rates fell again to Rs.2,993 per gram on the 9th before moving up slightly to Rs.2,998 per gram on the 10th.
- When the week ended, gold prices were holding at Rs.2,998 per gram.
March 2018 – Week 3 (12th – 18th):
- Gold prices had dropped further over the weekend due to pure cues and the metal traded at Rs.2,987 per gram.
- The metal continued to trade at Rs.2,987 per gram the next day before rising to Rs.3,003 per gram on the 15th of the month.
- This dropped again on the 16th and the metal’s rates fell to Rs.2,982 per gram – a Rs.21 decline from the previous day.
- Demand remained muted during the next two days and gold continued to trade at Rs.2,982 per gram on the 17th and 18th respectively.
March 2018 – Week 4 (19th – 25th):
- When the fourth week of March started, the yellow metal’s rates had dropped to Rs.2,977 per gram as the US dollar remained strong while international demand was weak.
- Thanks to a shaky equity market, gold bounced back against the dollar’s stronghold to trade at Rs.2,993 per gram on 20th March.
- The 21st saw prices remain the same before dropping to Rs.3,014 per gram as demand went up.
- Talks of the Federal Reserve taking a sterner approach to curb the inflation rose causing markets to plummet and gold prices to rise. Gold prices went up to Rs.3,035 per gram on the 23rd, which continued on till the 24th as well.
- The final day of this week saw gold prices rise to Rs.3,045 per gram as markets were still struggling to recover.
March 2018 – Week 5 (26th – 31st):
- Gold prices in Panaji fluctuated considerably, with a sharp decline recorded on one of the days of this week.
- On the 26th, gold was still continuing at Rs.3,045 per gram, which then dropped to Rs.3,040 per gram the next day.
- The 28th saw gold rates come back up to Rs.3,045 per gram and trade at this rate till the closing hours of the 29th.
- As domestic demand declined amidst a rising dollar, gold rates went down to Rs.3,014 per gram on the penultimate day of the month.
- The final day of March saw a slight increase in prices and gold traded at Rs.3,019 per gram.
- Gold price trends saw a marginal 0.16% incline this month and March turned out to be a rather topsy-turvy period for bullion investors.
Trend of Gold Rate in Panaji for February 2018 (rates per gram for 24 karat gold)
| Parameters | Gold price (24 karat) |
| Gold Rate on 1st February 2018 | Rs.2,998 per gram |
| Gold Rate on 28th February 2018 | Rs.3,014 per gram |
| Highest Rate in February | Rs.3,031 per gram on 19 February |
| Lowest Rate in February | Rs.2,951 per gram on 8 February |
| Overall Monthly Performance | Incline |
| Percentage Change | 0.53% |
February 2018 – Week 1 (1 – 4):
- The month began in Panaji with the white metal trading at Rs.42,600 per kg on the 1st after the US dollar weakened ahead of the US employment data. This was also the lowest monthly figure recorded in the city.
- Silver rate in Panaji remained unaltered at Rs.42,600 per kg on the 2nd owing to strong domestic demand amid the positive global cues.
- However, the US dollar index rose against other emerging currencies after the US payrolls data proved to be stronger than expected. This led to silver prices in Panaji plunging to Rs.41,700 per kg on the 3rd.
- Thanks to the subdued but steady demand from industries and coin manufacturers, the rest of the week saw the industrial metal prices holding steady at Rs.41,700 per kg on the 4th.
February 2018 – Week 2 (5 – 11):
- When trading commenced for the second week, silver was priced relatively lower at Rs.41,500 per kg on the 5th after demand for the metal declined amid weak global cues.
- Though rates rose to Rs.41,900 per kg the next day, silver prices in Panaji plunged to Rs.41,400 per kg on the 7th with the US dollar index rising against other apex currencies in the international market.
- Poor trends overseas compounded by weak demand resulted in silver rates dropping further to Rs.40,800 per kg on the 8th.
- The 9th saw the white metal rates rebounding to Rs.41,000 per kg following an unexpected incline in domestic demand despite the poor trend overseas.
- However, with the dollar and equities market performing well in the international trade, silver rates in Panaji plummeted to Rs.40,600 per kg on the 10th. This was also the lowest recorded monthly figure in the city.
- The week concluded with the industrial metal trading at Rs.40,600 per kg on the 11th with poor demand amid the weak trends overseas.
February 2018 – Week 3 (12 – 18):
- Poor dollar performances coupled with weakly performing equities resulted in silver prices rising considerably during the course of the week.
- The week began with silver priced relatively higher at Rs.40,900 per kg on the 12th with the US dollar losing ground ahead of the US inflation data.
- The next couple of days saw silver rates rising after markets awaited the inflation data for clues on the pace of Fed rate hikes during the year. The white metal was recorded trading at Rs.41,300 per kg on the 13th before rising to Rs.41,400 per kg on the 14th amid the positive trends overseas.
- Prices surged to Rs.41,800 per kg on the 15th before plunging to Rs.41,700 per kg on the 16th with the US dollar strengthening following the US inflation data.
- With investors and traders gravitating on safe-haven assets to hedge against inflation concerns, demand for the metal surged. This led silver prices in Panaji holding steady at Rs.41,700 per kg for the remainder of the week.
February 2018 – Week 4 (19 – 25):
- The fourth week commenced with the industrial metal priced at Rs.41,600 per kg on the 19th.
- However, silver rates in Panaji plunged to Rs.41,200 per kg the next day after the US dollar strengthened against other emerging currencies.
- Though rates remained untouched at Rs.41,200 per kg on the 21st amid the poor trends overseas, silver prices rebounded to Rs.41,400 per kg the next day with an increase in demand from local industries and coin manufacturers.
- Prices surged further to Rs.41,600 per kg on the 23rd with the US dollar index and equities market losing in the international market.
- The 24th saw rates declining slightly to Rs.41,500 per kg after domestic demand stabilised amid the firm trends overseas.
- Thanks to steady demand from industries and coin makers, the rest of the week saw silver trading firm at Rs.41,500 per kg amid the positive trend overseas.
February 2018 – Week 5 (26 – 28):
- When trading commenced for the last week, silver prices in Panaji were recorded holding at Rs.41,600 per kg on the 26th.
- Silver rates surging to Rs.41,700 per kg on the 27th as markets were shaky.
- The month came to an end with the industrial metal trading at Rs.41,200 per kg on the 28th with silver trade in Panaji registered a loss of 3.28% during the course of the month.
Trend of Gold Rate in Panaji for January 2018 (rates per gram for 24 karat gold)
| Parameters | Gold price (24 karat) |
| Gold Rate on 1st January 2018 | Rs.2,953 per gram |
| Gold Rate on 31st January 2018 | Rs.2,998 per gram |
| Highest Rate in January | Rs.2,953 per gram on 1, 2 and 3 January |
| Lowest Rate in January | Rs.3,032 per gram on 25 January |
| Overall Monthly Performance | Incline |
| Percentage Change | 1.93% |
January 2018 – Week 1 (1 to 7):
- Trading began in Panaji with the precious metal priced at Rs.2,953 per gram on the 1st of January.
- Gold prices remained unaltered at Rs.2,953 per gram until the 3rd with steady demand from local jewelers, retailers and industries amid firm trends overseas.
- However, the 4th saw gold rate in Panaji plunging to Rs.2,947 per gram tracking the strengthening US dollar and equities in the world market.
- Prices remained untouched at Rs.2,947 per gram on the 5th before surging to Rs.2,966 per gram on the 6th after the US dollar index lost against a basket of other apex currencies.
- With the US jobs data failing to reach market expectations, the US dollar remained on the weaker side for the rest of the week.
- The precious metal prices were recorded holding at Rs.2,963 per gram on the 7th when the week concluded amid firm overseas trends.
January 2018 – Week 4 (8 to 14):
- The second week commenced with gold prices in Panaji holding at Rs.2,963 per gram on the 8th with steady domestic demand from local retailers and jewellers.
- Gold price in Panaji rose to Rs.2,969 per gram on the 9th after the US dollar weakened amid losing equities.
- The 10th, however, saw gold rates plunging to Rs.2,958 per gram after the greenback regained lost ground with investors mulled over ahead of the inflation data.
- Rates remained untouched at Rs.2,958 per gram on the 11th before surging to Rs.2,976 per gram the next day following an incline in demand brought about by a firm trend overseas.
- With markets concerned over a possible US government shutdown, demand for safe-haven assets surged. Gold rates in Panaji were recorded trading at Rs.3,061 per gram on the 12th while touching near seven-week highs in the international market.
- The 13th saw gold rate in Panaji surging to Rs.3,000 per gram with investors and traders hedging on the bullion amid the weak trend overseas.
- Strong and steady demand coupled with positive global cues resulted in the bullion being price at Rs.3,000 per gram for the rest of the week.
January 2018 – Week 3 (15 to 21):
- Trading opened in Panaji with the yellow metal prices holding steady at Rs.3,000 per gram on the 15th amid firm overseas trends.
- Thanks to steady demand from local industries, retailers and jewellers, gold prices were recorded holding at Rs.3,000 per gram on the 16th.
- The 17th saw gold rate in Panaji surging to Rs.3,024 per gram with the dollar index losing against basket of currencies amid the poorly performing equities.
- With the dollar performing on par with the equities, gold rates dropped to Rs.3,004 per gram on the 18th.
- Gold was recorded trading at Rs.3,007 per gram on the 19th before rising to Rs.3,019 per gram on the 20th amid firm trends overseas.
- The week concluded with the precious metal prices holding steady at Rs.3,019 per gram on the 21st with the dollar remaining flat amid concerns over a possible government shutdown in the country.
January 2017 – Week 4 (22 to 28):
- The week opened in Panaji with the billion priced at Rs.3,019 per gram on the 22nd amid strong trends overseas.
- A weakened US dollar coupled with poorly performing equities led to gold prices rising to Rs.3,024 per gram on the 23rd.
- Gold rates remained untouched at Rs.3,024 per gram on the 24th before surging to Rs.3,032 per gram – the highest recorded monthly figure on the 25th amid positive global cues.
- However, with the US greenback recovering from its previous rally of losses, demand for the metal declined as the week progressed.
- The week came to an end with the yellow metal prices holding at Rs.2,998 per gram on the 28th after the strengthened US dollar and equities resulted in a decline in demand for the precious metal.
January 2018 – Week 5 (29 to 31):
- The last week commenced with gold prices holding at Rs.2,998 per gram on the 29th with weak demand from local industries, jewellers and retailers.
- Reduced domestic demand coupled with poor global cues led to gold rates remaining untouched at Rs.2,998 per gram on the 30th.
- The month came to an end with the bullion priced at Rs.2,998 per gram on the 31st ahead of the two-day monetary policy meeting by the Federal Reserve.
- Gold prices in Panaji rose by 1.52% with strong trends overseas pushing demand higher for the metal during the course of the month.
