Gold Rate in Meerut
The price for gold varies depending on a number of factors – purity, workmanship, hallmarking, international price trends, etc.
24 karat gold: The purest form of gold that can be bought is 24 karat gold of 99.9% purity. While the purest of gold in this form is brittle and soft, and unfit for use by jewellers and goldsmiths, it is still the most expensive form of gold. Gold in this form is usually bought as bullion, or coins, which are held as investments and for value appreciation. Currently, the price for 10 grams of 24 karat gold in Meerut is Rs.29,800 (as on the 14th of March, 2016). The price for gold in Meerut has risen and fallen marginally in tune with international trends – at Rs.29,900 on the 5th of March, down to Rs.29,690 on the 9th, and eventually rising slowly to hit Rs.29,800 on the 13th, and holding steady at that rate till the 14th.
22 karat gold: This form of gold usually has a purity level of 91.6%, with impurities in the form of alloys being purposely mixed with the gold in order to reduce its brittleness and make it stronger (and more useful for goldsmiths and jewellers). 22 karat gold is the most valuable gold used to make jewellery, compared to its 18 karat and 14 karat alternatives. Currently, the price for 10 grams of 22 karat gold in Meerut is Rs.27,830. At a rate of almost Rs.200 less per gram, first time investors and families invest in this gold in the form of jewellery for weddings and auspicious occasions.
Gold Rate Trend in Meerut for January 2018 to March 2018 (per gram of 24 karat gold)
| Factor | January | February | March |
| 1st day | Rs.3,010 per gram | Rs.3,077 per gram | Rs.3,113 per gram |
| Last day | Rs.3,066 per gram | Rs.3,129 per gram | Rs.3,134 per gram |
| Highest price | Rs.3,120 per gram on 24 & 25 January | Rs.3,161 per gram on 18 & 19 February | Rs.3,171 per gram on 25 & 26 March |
| Lowest price | Rs.3,010 per gram from 1-3 January | Rs.3,035 per gram on 9 February | Rs.3,098 per gram on 19 & 20 March |
| Trend | Incline | Incline | Incline |
| Change | 1.19% | 1.68% | 0.67% |
Gold Rate Trend in Meerut for October 2017 to December 2017 (per gram of 24 karat gold)
| Factor | October | November | December |
| 1st day | Rs.3,063 per gram | Rs.3,006 per gram | Rs.3,016 per gram |
| Last day | Rs.3,026 per gram | Rs.3,026 per gram | Rs.3,020 per gram |
| Highest price | Rs.3,072 per gram from 12 to 16 October | Rs.3,060 per gram from 18 to 20 November | Rs.3,036 per gram from 2 to 4 December |
| Lowest price | Rs.3,026 per gram on 27, 30 and 31 October | Rs.3,006 per gram on 1 November | Rs.2,910 per gram on 11 to 13 December |
| Trend | Decline | Incline | Incline |
| Change | -1.20% | 0.66% | 0.13% |
Gold Rate Trend in Meerut for October 2017:
- The price of gold in Meerut was Rs.3,063 per gram when trading began for the month of October.
- The U.S. Dollar stabilised after a period of instability and this led equity markets to also rise, which led to a decline in demand for gold.
- Gold prices fell to Rs.3,028 per gram on 6 October as a result of lowered demand for the precious metal.
- There was muted demand for gold throughout the month, in spite of festivals like Diwali. In fact, there was little to no impact on the price of gold during the festive period.
- Industrial demand was also on the decline as equities and a resurgent dollar kept imports to a minimum.
- Prices dropped to Rs.3,026 per gram from 27-31 October, resulting in the metal losing 1,20% of its value over the course of the month.
Gold Rate Trend in Meerut for November 2017:
- As the month began, gold was priced at Rs.3,006 per gram in Meerut, with a decline in price seen due to poor demand.
- A spurt in demand due to a sudden dip in the dollar rate led to prices rising to Rs.3,045 per gram on 10 November.
- A weakened U.S. Dollar led to greater demand for gold, as Asian markets also increased orders due to cheaper import costs.
- Prices rose to Rs.3,060 per gram, the highest for the month as local demand also rose due to the festive season.
- As markets stabilised and the dollar recovered, there was a slight drop in demand for gold and the price fell.
- Gold ended the month trading at Rs.3,026 per gram to record a rise of 0.66% over the course of the month.
Gold Rate Trend in Meerut for December 2017:
- The price of gold in Meerut in December saw quite a few fluctuations due to conflicting cues from markets.
- The month began with gold priced at Rs.3,016 per gram, with the price rising to Rs.3,036 per gram on 2 December following strong demand from overseas industrial units.
- Capitalising on the weak dollar, there was heightened demand for the yellow metal before prices regularised.
- Demand continued to fluctuate as markets were skittish due to turbulent geopolitical environment in the United States.
- Prices finally began to stabilise as the month drew to a close, trading at Rs.3,020 per gram on 31 December.
- The turbulence in the markets notwithstanding, gold prices rose by 0.13% during the month.
