May 14
0
Gold Rate in West Bengal
West Bengal is the fourth-most populous state in India, with more than 91 million people. It is an ethno-linguistic state with a proud history of kingdoms and empires that have contributed significantly to the country’s glorious past. As such, the demand for gold in the state is constantly increasing as people make purchases on a consistent basis when there are festivals. Since gold is considered a part of the cultural and traditional heritage of West Bengal, dealers in the state are never short of supply to meet the never-ending demand.
Gold Rate in West Bengal for January 2018 to March 2018 (per gram of 24 karat gold)
| Factor | January | February | March |
| 1st day | Rs.3,090 per gram | Rs.3,146 per gram | Rs.3,143 per gram |
| Last day | Rs.3,127 per gram | Rs.3,163 per gram | Rs.3,169 per gram |
| Highest price | Rs.3,172 per gram on 25 January | Rs.3,191 per gram on 18 and 19 February | Rs.3,198 per gram on 25 and 26 March |
| Lowest price | Rs.3,088 per gram on 5 January | Rs.3,105 per gram from 11 and 13 February | Rs.3,132 per gram on 18 and 19 March |
| Trend | Incline | Incline | Incline |
| Change | 1.19% | 0.54% | 0.82% |
Gold Rate in West Bengal for October 2017 to December 2017 (per gram of 24 karat gold)
| Factor | October | November | December |
| 1st day | Rs.3,109 per gram | Rs.3,071 per gram | Rs.3,074 per gram |
| Last day | Rs.3,091 per gram | Rs.3,085 per gram | Rs.3,098 per gram |
| Highest price | Rs.3,138 per gram from 12 to 17 October | Rs.3,123 per gram on 20, 25th and 26th November | Rs.3,098 per gram on 30 and 31 December |
| Lowest price | Rs.3,079 per gram from 27 to 29 October | Rs.3,035 per gram 18 November | Rs.3,001 per gram on 12 and 13 December |
| Trend | Decline | Incline | Incline |
| Change | -0.57% | 0.45% | 0.78% |
Gold Rate in West Bengal for October 2017
- Gold was priced at Rs.3,109 per gram as trading opened in West Bengal in October.
- Prices were more or less steady during the first week as local demand was consistent in spite of fluctuations in international demand.
- Gold price West Bengal rose to their monthly high of Rs.3,138 per gram from 12-17 October as festive shopping led to an increase in orders for the yellow metal.
- The weak U.S. Dollar also contributed to a rise in the price of gold, though this was a short-lived rally.
- The resurgent dollar led to gold prices stagnating for a while before prices rose on sharp investor uptake.
- Demand for gold declined steadily after Diwali as European industry reduced offtake due to a stable dollar.
- Local demand also fell in the wake of plunging demand for gold overseas, resulting in the metal trading at Rs.3,079 per gram from 27-29 October.
- Minor gains were recorded as the month drew to a close, with gold priced at Rs.3,091 per gram on 31 October.
Gold Rate in West Bengal For November 2017:
- Gold was priced at Rs.3,071 per gram on 1 November as prices remained unchanged from the previous month due to steady demand.
- There was a steep drop in price as the week progressed due to a bull run by equity markets in the United States, as news of the new tax policy was released.
- Local demand was also on the decline in spite of it being the wedding season, putting more pressure on the precious metal’s price.
- Gold price in West Bengal continued to fluctuate for the remainder of the month, with gold reaching its monthly high of Rs.3,123 per gram on 20 November.
- In spite of the late recovery, gold prices slid as the month drew to a close, trading at Rs.3,085 per gram on 30 November to register a gain of 0.45% in value over the course of the month.
Gold Rate in West Bengal For December 2017:
- December began with gold trading at Rs.3,074 per gram, with the price falling due to a lowering of demand across sectors.
- The markets swung wildly over the first week due to the escalation of tensions between the United States and North Korea, though the dollar rate remained quite stable.
- Demand from Asian markets was muted due to the fluctuations, while local demand was also quite poor due to international trends.
- Gold price in West Bengal dipped to a monthly low of Rs.3,001 per gram on 12 & 13 December as investors shied away from gold due to a market bull run.
- The holiday shopping season also boosted market performance and reduced reliance on bullion.
- Gold price in West Bengal rose towards the end of the month as fears of monetary tightening due to rising inflation led to jittery markets.
- The yellow metal touched monthly highs of Rs.3,098 per gram on 30 & 31 December to register a rise in value of 0.78%.
