Gold Rate in Pune

Most of the gold purchased in Pune is through the established players, with pan India presence. Some of the big names in Pune are KP Gems World, Krishna Jewellers, VS Waikar and Sons, Sagar Jewellers and Tikhe Saraf. Gold can be purchased at the smaller stores across town too, with stores catering to individual needs and demands.

Trend of Gold Rate in Pune for February 2018 (rates per gram for 24 karat gold)

February 2018 – Week 1 (1st – 4th)

• The month began in Pune with the precious metal trading at Rs.3,128 per gram on the 1st of February.
• The release of the highly anticipated US employment data had no effect on the local market, and gold price in Pune were holding steady at Rs.3,128 per gram on the 2nd.
• Strong domestic demand amid the strengthening US dollar led to gold rate in Pune rising to Rs.3,148 per gram on the 3rd.
• When the week concluded, the metal was priced at Rs.3,148 per gram on the 4th with steady demand from local industries, retailers and industries.

February 2018 – Week 2 (5th -11th)

• Gold traded at Rs.3,148 per gram in Pune when the week began in Pune.
• Prices fell to Rs.3,125 on 6th, and analysts suggested that “today’s gold rate” saw a change due to the US dollar bouncing back.
• The 6th saw gold rate in Pune rise back after the previous day’s fall to Rs.3,148 per gram as demand from the domestic market trumped the USD’s performance.
• The remaining few days saw gold rates fall as local demand weakened amid poor sales from various investing quarters of the city.
• Gold rates in Pune dropped to Rs.3,125 per gram on the 8th of February, and fell again by Rs.34 the next day to hit Rs.3,091 per gram.
• The last two days of this week saw gold trading at Rs.3,091 per gram due to steady demand.

February 2018 – Week 3 (12th – 18th)

• The third week opened with the bullion trading relatively higher at Rs.3,103 per gram on the 12th with the US dollar declining after the previous week’s rally.
• The US dollar lost against other apex currencies with investors and traders eyeing on the US price data for signs of interest rate hikes. This resulted in an increased demand for the yellow metal.
• The strong global cues coupled with strong demand from local jewellers, retailers and industries resulted in gold rate in Pune remaining untouched at Rs.3,103 per gram until the 15th.
• The 16th witnessed bullion prices surging to Rs.3,129 per gram with the greenback hitting near two-month lows amid the US tax cut concerns.
• Gold rate in Pune rose further to Rs.3,148 per gram the following day following a renewed interest in the safe-haven metal in order to hedge against inflation concerns.
• Trading concluded for the week with the precious metal holding steady at Rs.3,148 per gram on the 18th amid firm overseas trends.

Trend of Gold Rate in Pune for January 2018 (rates per gram for 24 karat gold)

January 2018 – Week 1 (1st – 7th)

• Gold rate in Pune was relatively unchanged for the most part of the week.
• On the 1st of January, gold was priced at Rs.3,093 per gram.
• Due to a steady local demand, gold rates continued at Rs.3,093 per gram for the next two days as well.
• However, the 4th saw gold rate in Pune reach Rs.3,080 per gram as local demand was affected by overseas trend slightly.
• Reports claimed that “today’s gold rate” declined due to decreased purchases from investors in the city.
• The final three days of the week saw gold trading at Rs.3,080 per gram.

January 2018 – Week 2 (8th – 14th)

• Trading began in Pune with gold priced at Rs.3,080 per gram on the 8th after local demand from domestic jewellers, industries and retailers subdued amid a poor trend overseas.
• Demand for the precious metal surged with the US dollar losing other other major emerging currencies and gold was trading at Rs.3,087 per gram on the 9th.
• Gold rate in Pune were recorded at Rs.3,094 per gram on the 10th before rising further to Rs.3,111 per gram the next day on account of the poorly performing equity markets that pushed demand higher for the metal.
• Gold price in Pune rose to Rs.3,114 per gram on the 12th with a slight increase in domestic demand from local jewellers, industries and retailers.
• On the 13th, gold rates in Pune touched a seven-week high of Rs.3,147 per gram with the US dollar performing poorly.
• Strong trends overseas coupled with increased global demand led to gold prices remaining unchanged at Rs.3,147 per gram for the rest of the week.

January 2018 – Week 3 (15th – 21st)

• Gold trading in Pune hit a peak in the beginning before consolidating as the week progressed.
• On the 15th of January, gold rate in pune was at Rs.3,147 per gram. This rose to Rs.3,162 per gram on the 16th of the month as demand rose in the local market.
• Prices this week was largely on the steadier side in Pune despite some significant fluctuations in other major cities in the country.
• Gold continued to trade at Rs.3,162 per gram on the 17th and the 18th of January, as well as domestic demand, was stable.
• However, there was a considerable drop to be witnessed on the 19th when the yellow metal traded at Rs.3,148 per gram.

January 2018 – Week 4 (22nd – 28th)

• Gold was valued at Rs.3,100 per gram when the week began in Pune.
• As the local market took time to react to outside stimulus, gold continued at Rs.3,100 per gram on the 23rd as well.
• After a slowdown in the US dollar became apparent, gold rate in Pune increased slightly to Rs.3,112 per gram on the 24th of the month.
• Courtesy of strong global cues demand from local jewellers also increased. This pushed gold price in Pune to increase to Rs.3,144 per gram on the 25th of January.
• Gold recorded its highest rates since August 2016 globally but in the domestic market, demand seemed to fall flat. Due to this gold continued to trade at RS.3,144 per gram on the 26th of the month.
• Gold continued to trade at Rs.3,144 per gram over the final two days as demand saw little signs of picking up despite the positive stimulus offered by the international market.

January 2018 – Week 5 (29th – 31st)

• The week commenced in Pune with the bullion trading at Rs.3,144 per gram on the 29th.
• Strong domestic demand by industries, jewelers and retailers despite the recovering US dollar resulted in prices remaining unchanged at Rs.3,144 per gram on the 30th.
• The 31st, however, saw gold rate in Pune declining to Rs.3,121 per gram with demand dropping against the strengthening US dollar equities market.
• An increase in domestic demand brought about by the positive trends overseas resulted in Pune registering a profit of 0.90% during the course of the month.