There are only 3 gold fields in India – Hutti and Uti in Karnataka, and Hirabuddini mines in Jharkhand. Therefore, much of the gold used in India is imported. Because of this, gold prices follow the international trends. Prices also shoot up during the wedding season because of high demand and limited supply.
Most of the gold bought over the counter in India is in the form of 24-karat gold coins/bars (this is mainly for investment purposes), and jewelry made of 22-karat, 20-karat, 18-karat or 14-karat gold. Of these, 22-karat is the most popular and its prices can be easily tracked. Pure gold is not strong enough to be molded into ornaments and hence is mixed with silver, copper or nickel.
24-karat gold price: 24-karat gold is the purest form of gold, with a purity of 99.99%. If you wish to buy 10 gram of 24-karat gold in Jodhpur, you will have to pay Rs. 29,690 as on March 11, 2016. This is Rs. 180 higher than the price of gold a week ago. Compared to the price of Rs. 30,374 in the national capital of Delhi, this is Rs. 684 lower.
22-karat gold price: Jewellery is usually made with 22-karat gold, with a purity of 91.6%. The rates of 22-karat gold are lower than that of 24-karat gold because of the decreased purity. If you want to buy 22-karat gold in Jodhpur, you have to shell out Rs. 27,750 for 10 grams (as on March 11). Prices have increased only slightly – around Rs. 200 – over the last 7 days. In Delhi, he price is Rs. 28,400, lower by Rs. 650.
Gold Rate Trend in Jodhpur for January 2018 to March 2018 (per gram of 24 karat gold)
| Factor | January | February | March |
| 1st day | Rs.3,086 per gram | Rs.3,138 per gram | Rs.3,159 per gram |
| Last day | Rs.3,120 per gram | Rs.3,159 per gram | Rs.3,149 per gram |
| Highest price | Rs.3,171 per gram on 25 January | Rs.3,175 per gram on 20 February | Rs.3,182 per gram from 27-30 March |
| Lowest price | Rs.3,082 per gram on 5 January | Rs.3,092 per gram on 9 & 10 February | Rs.3,109 per gram on 20 March |
| Trend | Incline | Incline | Decline |
| Change | 1.10% | 0.66% | -0.31% |
Gold Rate Trend in Jodhpur for October 2017 to December 2017 (per gram of 24 karat gold)
| Factor | October | November | December |
| 1st day | Rs.3,109 per gram | Rs.3,087 per gram | Rs.3,068 per gram |
| Last day | Rs.3,087 per gram | Rs.3,078 per gram | Rs.3,086 per gram |
| Highest price | Rs.3,133 per gram from 12 to 16 October | Rs.3,113 per gram on 20 and 21 November | Rs.3,086 per gram on 30 and 21 December |
| Lowest price | Rs.3,073 per gram on 27 and 28 October | Rs.3,057 per gram from 4 to 6 November | Rs.2,990 per gram on 14 December |
| Trend | Decline | Decline | Incline |
| Change | -0.70% | -0.29% | 0.58% |
Gold Rate Trend in Jodhpur for October 2017:
- Gold was priced at Rs.3,109 per gram when the month of October began in the Rajasthani city of Jodhpur.
- Prices seemed to drop during the first week before surging briefly amid positive cues from the global market.
- On the 12th, the gold rate in in Jodhpur went up to Rs.3,133 per gram – the month’s highest price. This continued on till the 16th of the month, as there was a steady demand for the metal from local investors.
- Gold prices in Jodhpur began to fall from the 3rd week onwards as the US dollar strengthened, which pushed local investors away from purchase.
- The 27th saw gold rates hit the lowest for the month of Rs.3,073 per gram. This was due to poor local demand brought on by a steady rise in dollar value.
- When the month came to an end, gold rate were recorded at Rs.3,087 per gram – a Rs.22 decline from the first day’s prices.
- Price trends had declined by 0.70% due to poor demand from the domestic market.
Gold Rate Trend in Jodhpur for November 2017:
- When November began, gold was priced at Rs.3,087 per gram.
- A poor global demand brought gold rates down during the initial few days with the metal trading at Rs.3,057 per gram from 4th to 6th November – the lowest for the month.
- This month saw gold prices fluctuate considerably before rising consistently from the third week onwards.
- As the US dollar seemed to fall slightly amid concerns over the Donald Trump administration, gold rates seemed to increase.
- A rise in demand towards the 20th of the month led to gold trading at Rs.3,113 per gram – the month’s highest gold rate.
- The rise in prices were largely due to an increased demand from jewellers who stocked up to meet the upcoming festive demand.
- When the month ended, gold was seen trading at Rs.3,078 per gram. There was a decline in gold rates during this month as well and prices fell by 0.29%.
Gold Rate Trend in Jodhpur for December 2017:
- The last month of 2017 saw gold rates increase, thanks to the tax reform introduced by Donald Trump, which wasn’t very well received by the market initially.
- As days passed, however, the market warmed to the new business-friendly tax cuts and the US economy began to pick up.
- On the 1st of December, the commodity was seen trading at Rs.3,068 per gram.
- Demand for the metal remained weak during the initial few days. Rates hit a monthly low of Rs.2,990 per gram on 14 December after US treasury yields increased.
- However, rates picked up from then on and the metal traded in the Rs.3,000 plus range for the remaining few days of the month.
- Gold prices in Jodhpur were at their highest for the month on the 29th and 30th of the month, when the metal traded at Rs.3,086 per gram.
- Overall, December recorded a price rate increase of 0.58% and helped end 2017 on a positive note.