A number of gold shops have flourished in Lucknow over the years. However, there are also very traditional shops, which have passed on from generation to generation. Most of these shops vouch for the purity and authenticity of the gold sold.
These are mostly family business, though we do not find many large scale corporate gold jewelers in the city of Lucknow.
Several jewellery shops are staggered, and we do find them in large concentrations in the city, wherein you can buy and check gold prices today in Lucknow.
How to buy gold in Lucknow?
You must check gold prices in Lucknow before you buy them. You can make enquiry with th many shops in the city. These days there are telephone numbers that many online directories provide. You can call as many jewelers. In the end do not call too many as it may lead to confusion.
The price differential may not be too large. However, it is best to check the gold rates in Lucknow from one shop to the other. Do also remember to check goodreturns.in for an updated price of gold in Lucknow.
It is important to remember that before buying gold, you must ensure that it is hallmark. The Bureau of Indian Standards has earmarked many places, where you can check for hallmarked jewellery.
Also, before buying gold in Lucknow, make sure that you do not have gold allergies. Also insist for a receipt, which will show the date of the purchase, as well as the purity and the grammage.
This will help you to sell the gold, as and when you want. Any person buying the gold may insist on the receipt. So, do preserve the receipt of the same.
916 gold rates live in Lucknow
It is extremely important to understand what 916 gold rates is when you buy gold in Lucknow. 916 is the usual 22 karats gold that we buy. If you want to buy 24 karats gold in Lucknow, it is obviously going to be a lot more expensive. There is a good 10 per cent difference in the price of 22 karats and 24 karats gold. In India that amounts to slightly less than Rs 2000. One thing that you must keep in mind is to check the purity, so that 22 karats gold is not ultimately sold to you as 22 karats gold. This is because when you sell the gold all of sudden it should not be that you get less money for the gold on the pretext of 22 karats.
How do gold rates in Lucknow move?
Gold prices in Lucknow move in tandem with gold prices in the international markets. The precious metal is traded, after which to the international prices is added excise and import duties, exchange rate conversion etc.
The movement of the rupee to the dollar in the forex markets, has an impact on the price of gold.
If the dollar gains against the rupee, the precious metal will become cheaper. On the other hand when it falls it becomes costlier. Also, look for the currency movement which also tends to affect gold prices. Gold rates in Lucknow today, do not forget to visit good returns.
Choices of buying gold in Lucknow
When it comes to purchasing gold in Lucknow there are a plethora of choices. Among these include the gold ETFs, 22 karats gold, 24 karats and gold bars. The gold bars is of course for those who have the money and generally for the high networth individuals in the country. On the other hand people who do not have the money can go for the 22 karats and the 18 karats gold. We also get lower karats or purity of gold, but one cannot be sure of whether these are available in Lucknow. If you want to buy the other varieties it is better to look for gold exchange traded funds. These are also popularly called gold ETFs worldwide and are the most famous of all the gold investment opportunities worldwide. However, this kind of investment maybe slightly complicated, but, you can talk to your broker, because it is like buying shares. You would need to have a demat account to buy gold ETFs. In case you do not have one, please go ahead and open one.
A check list for buying gold in Lucknow
Before buying gold in Jaipur check and compare the prices with every possible jeweller in the city. The second important thing to do is take a note of the making charges. Apart from this do ask if the concerned jeweller is selling hallmarked gold in Lucknow. If he is not, then you might want to skip buying and move to somebody who sells hallmarked gold in the city. There is no way you will not find hallmarked gold in the city. There are many important steps that you must remember, the other is that we should always remember to time the market well. If you find prices have gone too high go ahead and sell. What goes up will finally come down and you will finally get a change to buy all over again. Remember, gold is gold and in the long term the precious metal would always give you decent returns.
How to buy gold coins in Lucknow?
Investing in gold is one of the means of savings. There are several ways where one can do the investment, it can be done either in the form of purchasing gold ornaments or coins or biscuits. Coins are available in Lucknow at jewelry shops, banks, the Stock Holding Corporation of India, MMTC (a government authorized public sector unit for sale of gold and silver) and even from non-banking financial institution. Gold coins are available in various denominations in India, ranging from 0.5 grams to 50 grams. One can buy the coin based on the requirement, say if a person has around INR 3000 then he can buy 1 gram gold (value of 22 Karat one gram gold = INR 2994 as on January 25, 2018). The buyer has to check the hallmark symbol in the coins before purchasing it to be on the safer side. The BIS (Bureau of Indian Standards) is set up by the government of India to ensure that the customers are not cheated with non-standard products. The BIS hallmarks only 24 karat, 22 karat and 14 karat gold jewelry in India. 24 karat gold is considered as the purest form of gold jewelry. Gold coins come in tamper proof packaging. The packaging is done to safeguard the product. Jewelers recommend to open the tamper proof of the gold coin only at the time of reselling the coin. The packaging ensures credibility of the gold coin. The buyer need not have to invest more money in buying coins as compared with investing in ornaments. There is relatively less making charges or wastage charges added to determine the value of gold coins compared to ornaments.
Understanding exchange risk fluctuations in gold
If you are a buyer of gold in Lucknow, there are a few things that you should not determine the prices of gold. One of the most important of these is exchange rate fluctuations. As we all know that gold in India is imported through banks who have to pay the importers in dollar. So, if gold is imported today at 67 to the dollar and yesterday it was imported at 66.90 to the to the dollar, gold rates will go higher in Lucknow, because the rupee dipped against the dollar today. We are assuming that all other things like international gold prices and duties remain the same. So, in short the rupee must not fall against the dollar or else you will end-up paying more for gold. Of course, that does not mean that you start monitoring gold on a daily basis. Ultimately what counts is to directly monitor the prices of gold. If you feel gold rates in Lucknow have fallen it maybe a good time to buy into the precious metal. Seek professional advise if needed.
Be careful when selling your gold in Lucknow
If your are looking to sell your gold in Lucknow, it is time to be cautious. This is because there are many companies who will buy your gold and there is a question of the amount they will deduct and pay you. Let us say there are some precious stones in your jewellery. What is the price that they are going to pay you for that. Is there a professional person who can really evaluate the value of that precious stone. How would they pay the individual. Cash transactions on large scale sale of gold, could raise many questions by many authorities. So, unless you are in desperate need of money, make sure that you do not sell gold in Lucknow. Of course, there is a high possibility that you may need to sell some useless stuff, which is broken. But, you can buy another ornament in place of this, if there is a need. You will get the price for the broken piece of gold.
Look at gold ETFs as well
Gone are the days when your choices of buying gold were limited to jewelry, gold coins and gold bars. Today, in Lucknow you can also look at other options like gold ETFs.
Gold ETFs offer you many advantages like there is no need for you to rush to the bank, to deposit the gold, as they are traded in electronic form.
In Lucknow as well, you can buy gold etfs. The beauty of these Gold ETFs is that they can be easily sold as and when required. Since they are in the electronic form like shares, it is very easy to sell the same.
The taxation on these instruments is the same as that for physical gold. You can pay long term tax on sale of gold, as well as short term capital gains tax on gold. If you are looking to buy gold etfs in Lucknow, talk to your broker, who maybe able to give you suitable advise.
Why to look for these quality parameters in Lucknow?
If you are looking at gold quality parameters, or as we all know what is more often called purity of gold, you should look for gold that is branded. Remember, that you do get what is called hallmarked gold in the city. So, stay focused on buying only this variety of gold in the city. The question that arises is: Where do I get hallmarked gold? The answer is simple: you need to visit the BIS centres and see if there is any essaying centre, that will help you to buy hallmarked gold in the city of Lucknow. Remember, it is easy to get duped with gold that is not in the purest form. In the past, there have been instances of consumer complaining that the quality of gold was adulterated or impure. Today, it is very much possible to get that kind of gold in India, which means you need to be very careful. The precious metal becomes impure when it is mixed with a host of other alloys or metals. This is because gold cannot be used to make jewelry by itself as the metal is very brittle. Hence, it needs to be mixed with other metals, so as to ensure tensile strength or to ensure that the gold jewelry does not break. This is why it is mixed with a host of other metals. Bt, mixing it in an abnormal ration, will mean that the quality of gold very much gets diluted. So, be careful and check before you buy.
Demand for gold in Lucknow
Gold demand on Lucknow has constantly been on an upswing in the recent years. This has led to good demand for the precious metal in the last few years. In fact, since international prices have gone up sharply, gold price in Lucknow have almost tripled in value since 2008. If you are a big investor in gold, it maybe a good idea to keep the faith in the precious metal. Gold has withstood the test of time and there is no reason to believe that gold prices in the next few years will not rally. It is likely that we may see an improved price environment for the precious metal in the days to come. However, one has to makee sure that one is buying the precious metal keeping in mind a more long-term objective. it is extremely difficult to make money if you have a short term objective.
Another important thing that you must note when you are buying gold in Lucknow is that you must but hallmarked 916 gold only. This will ensure that you have the highest level of purity for the precious metal. Look for buying the precious metal only on declines. The current rate in Lucknow of around Rs 27,000 for 22 karats is not a bad bet to gold for the more long term.
Myriad choices to buy in Lucknow
If you are looking to buy gold, of course you should first look at the various choices that you have. Many suggest that the best way to buy gold in Lucknow is the gold ETFs. Now, that gets a little complicated for the layman and it always difficult to understand what these gold exchange traded funds mean. So, if yiu do not have a demat account, it is impossible to but these ETFs. So, in Lucknow you should look for the usual gold coins and bars. However, if you are investing you look for those mentioned, but, if you have a marriage or any other occassion, you cannot look beyond gold jewelry. Large amounts of these should not be bought into. In Lucknow, you get the best designs and patterns of gold ornaments. In fact, the city has always been known for excellent crasftmanship on jewelry. However we wish to emphasize as we have done time and again that you have to tae measures to ensure that the gold you buy is of the utmost purity. So, if you are buying 22 karats gold it should be of 916 and 24 karats of 99.9 per cent purity. Remember, if you have doubts on purity in Lucknow go for the hallmarked gold only.
Taxation on gold in Lucknow
Remember, if you are buying gold in Lucknow, you must also know the different aspects of taxation on the precious metal in the city. First, there is no income tax, because gold does not give you any income like dividend or interest. So, the tax that you pay on gold is capital gains tax. Let is give an example. If you buy gold at Rs 20,000 and sell the same for Rs 30,000, you pay tax on the profit of Rs 10,000. that is you pay on the profits only. Suppose you make losses in one particular year. In that case, what you can do is set off the losses, against profits of the next year. Remember, short term capital gains will apply if you sell the precious metal before three years and long term capital gains will apply if you sell the same after that period. There is also a wealth tax that you have to pay and this has to be kept in mind before investing.
What is in store for gold rates in Lucknow in 2018?
This is always a tricky question to answer and very few people would know the answer to the same.
If you are an investor of gold in Lucknow, you need to be a little careful. It is always a good proposition to exercise a caution. But, the question is: How do you exercise caution. You exercise caution with buying gold in small quantities in Lucknow. Let us give an example. If you have Rs 1 lakh and want to buy gold, you can buy it in small quantities of 10 gram each. Every 10 the price falls, you get to buy the precious metal at lower rates. So, in short when buying gold, make sure that you do not throw caution to the wind.
Factors affecting gold rates today
Today, a host of factors tend to support or lend support to gold rates. The biggest of the factors influencing gold rates today in Lucknow are geo political tensions. When the world witnesses political turmoil, gold tends to gain momentum. However, these events are very few and do not happen all of the time. This is why analysts often recommend buying gold as a hedge against bad times. If you have not invested part of your money in gold, it is time you add some money by investing in the same. It is an excellent hedge in bad times. This is why individuals advise not to put alll your eggs in one basket and diversify your portfolio. Parking in small amounts in gold, can hold you in good stead in the years to come. We wish to emphasize that if you are buying gold, keep a view of at least 6-7 years. This is because longer the time frame for investment, better is the chances of making money in the precious metal.
Understanding wastage charges in Lucknow
Lucknow is the largest city in north India and is also the capital of the state of Uttar Pradesh. Lucknow is also one of the major metropolitan cities in India.
If you are buying or making any jewelry or gold ornaments here are few things you must keep in mind, so that you are not fooled by the gold merchants. Those charges are making charges, wastage charges etc. So it will be better to have a very good understanding so that while you are buying you can have a clear idea are you getting for what you are paying.
Most individuals in Lucknow sell or modify their old model jewelry to make new model jewelry. It will be better to go for a reputed as you can find better models from reputed shops or jewelry merchants and also they give offers such as zero making charges and wastage charges.
Before you buy gold in Lucknow its better to check gold rates in Lucknow on goodreturns.in
Why buy gold in Lucknow?
Most people buy gold as a reaction to the unknown risk around them. Not only this there are majorly three reasons for which you should buy gold.
Gold is priced below its margin cost of production to is supply and also near its average cost of product. The main rule ofinvesting is dont miss to own an asset below its replacement value.
Gold prices are always volatile. The prices moves quickly and dramatically without any warning. In April 2013, gold prices suddenly increased 13% in just two days and by the end of 2013, its is down nearly 28%.
Gold rates behave inversely when compared to few other assets. Gold goes up when the outlook for other assets looks bleak. In 2002, when U.S. stocks were down by 22%, gold went up by 24%. Even Gold ended in positive territory.
So whatever the conditions or crisis are coming over, One can use gold as a safe haven. Whatever the plunges or swells come in the market. To have a better understanding its better to follow gold rates in Lucknow everyday.
Even it is recommended to the investors to go for Gold ETFs (Exchange traded funds) than going for Physical gold for investment Purpose
Why is gold so precious metal?
Gold is a precious metal not only today, it is a precious metal from ages. In olden days it was used an a means of currency exchange. Time and generations were changing but gold never lost its value. It is safe haven for wealth. The change in price of gold is dependent upon the crisis hitting developed or developing countries from last few years.
The preciousness of gold is found in its nature itself. It is not a resource which is easy to find. It is not impossible to find but very hard to, which brings value to this metal. One of the of the other reason which is increasing the preciousness of gold is its reactive nature when exposed to different conditions because of its positive reaction to conditions where other metals deteriorate, disintegrate, or cause potential safety issues for users. That is reason gold is being used in many modern applications a lot these days.
The Traders and investors in Lucknow heads towards gold as it is the safe havens when the economic climate starts experiencing turmoil. They follow gold everyday by checking gold rates in Lucknow everyday. It is better to find a place where one can get gold prices in Lucknow accurately.
Investing in which form of Gold is safe in Lucknow?
To invest in gold, there are two options for the investor either to invest in physical form or electronic form.
So to decide on this you one need to understand few things about physical gold as well as electronic gold.
Investing in physical gold means you have two options either you can buy gold bars or coins and the other option is buying gold jewelry. When it comes to investment gold coins and bars are highly recommended because you will be losing making charges and wastage charges on gold jewelry. It is also recommended to check today gold rates in Lucknow.
The big advantage one will be getting by investing in physical gold. On physical gold, bank gives instant loans. Not only banks there are a lot of NBFCs which gives loan against gold. This cannot be availed on gold ETFs
The disadvantage of buying physical gold is safety issues. This problem is not there with electronic gold as it will be in electronic form.
When it comes to electronic gold one will have multiple options like ETFs, futures, Gold mining company shares, etc. This method will be quite simple. If one wants to buy gold, one can just make the call to their stock broker and invest as much money they want to invest in the gold, and if they want to sell just by making few calls, they can sell it.
The advantage with electronic gold one trading with electronic gold is safe, secure and hassle free.
The Disadvantage with the method is there are few charges for this method and specific timings. Excluding that one cannot trade with their gold.
Who is the best jeweler in Lucknow?
The first question popping up in your mind when you decide to buy gold is who is the best jeweler in Lucknow? As there are many options in Lucknow to buy gold from this question cannot be answered easily. But by checking few things one can decide where and from whom one should be buying gold jewelry.
Is the jeweler selling the jewelry as per the gold rates in Lucknow on that day? For that first, you need to know what the live gold prices in Lucknow are. That you can check on goodreturns.in. The website provides updated gold rates in Lucknow and all the major cities in India. So check gold prices and check with the jeweler if both the rates tally go for it.
The second important thing to check is BIS hallmark. Check whether the jeweler is selling 916 BIS hallmarked gold jewelry. Though the jeweler is offering price less than live gold prices in Lucknow and not selling Hallmarked gold. It is advised not to go for it because there will be chances of getting duped by going for gold which is not hallmarked.
One more thing one should be checking is, is the jeweler offering any buyback terms. There are jewelers in Lucknow who offer buyback terms. It better to go for such jewelers because in future if you want to sell your gold for any reason. You can sell to the same jeweler. But you may or may not get the price at which you bought the gold. The reason behind this is the jeweler may not pay the making charges, and even there are chances that the gold rates in Lucknow will be different on the day you bought your gold jewelry and the day you are selling.
What is Hallmark Gold in Lucknow?
Hallmark Gold means the gold which is assayed. It can be a gold bar or gold jewelry. There is a hallmarking governmental agency called BIS (Bureau of Indian Standards) which do hallmark on gold. The Assaying centers or hallmarking center do hallmark for 22 karats as well as 24 karats gold.
It is paramount to buy gold jewelry or coins or gold biscuits which are hallmarked. This hallmarking symbol explains or guarantees us that the jewelry you are buying is genuine. If you buy jewelry which is not hallmarked, you cannot be one hundred percent sure that the jewelry or bars you bought are of same karats as mentioned by the gold jeweler. But if it is hallmarked you no need to worry about it as at the assaying center they test the jewelry and give a hallmark also mention how many karats the gold is. That assures you that the gold you bought is genuine.
This hallmark helps while selling the gold you have. If you have plans to sell the jewelry you have better take the bill as well. Because by seeing the hallmark and bill the jewelers will buy your jewelry. If you dont have these, it will be hard to sell the jewelry you have.
What to look for when buying gold in Lucknow?
Gold is a precious metal, and few factors have to be considered before buying gold in Lucknow. Buying jewelry has become very easy and transparent nowadays .If you are purchasing gold jewelry, you should be aware of the gold rate in your city. The gold rate differs from one city to another. First and foremost you should be aware of purity of the gold. The purest form of gold is 24 karat gold. Another consideration before buying the gold is to check the purity. The purity of gold ranges from 18c to 22c. The best way is to assure purity is to check hallmarking on the Jewellery.
Price is also another factor to consider while buying gold in Lucknow.
Purity of gold is measured in karats. Gold is available in different colors nowadays such as white gold, rose gold, yellow gold, but the yellow color is the common form of the gold, and it is most preferred. Gold is manufactured in two ways: handmade and machine made ornaments. In India, gold is sold by weight. If the gold is higher in gram, it is the more expensive. The reliability of the jewelers also matters and when ever you want to buy jewelry buy it from a reputed and well-established brand to avoid any problems with the jewelry later on.
Latest Updates on Lucknow Gold Rates
Gold rates in Lucknow stay flat
Gold prices in Lucknow were little changed as activity in the global markets was limited.
Prices in the global markets barely moved with spot gold touching $1807 an ounce.
Gold for 22 karats and 24 karats were little changed at Rs 47,155 and Rs 51,000 per 10 grams in Lucknow. It is unlikely that we will see gold prices in the city dip anytime soon. Investors who are long term investors should wait for a decline to buy into the precious metal.
According to experts, unless inflation across the globe sees a solid rise, we might not see gold prices fall anytime soon, as bond yields are unlikely to rise. In fact, spot gold in the global markets has moved higher from the previous levels as the dollar keeps drifting against a basket of currencies. Falling bond yields in the United States has also had its impact on gold prices in Lucknow.
19 July 2021
Gold Prices Edges Up in Lucknow
The gold prices edged up in Lucknow following trends from the international markets amidst a drop in the U.S. Treasury yields. The gold rates in Lucknow traded at Rs 46,800 for 10 grams of 22 karats and Rs 50,850 for 10 grams of 24 karats.
In the global scenario, spot gold traded at $1,809.30 per ounce; U.S. gold futures at $1,804.10 per ounce.
The benchmark 10-year Treasury yields touched their lowest in more than four months and reduced the opportunity cost of holding bullion.
In the international platform, the prices of the ornamental metal-edged higher are on course for recording its sixth consecutive session of rising, driven by a fall in the U.S. Treasury yields ahead of the release of minutes from the U.S. Fed Reserve’s June meeting.
The minutes from the Fed could provide more cues on the monetary policy stance.
Data showed that the non-farm payroll in the United States rose 850,000 more than expected in June, although the unemployment rate reached 5.9% from 5.8% the month before.
The Fed has kept the interest rates at near-zero levels since last year, to uplift the economy battered by the pandemic. The outbreak of the coronavirus had forced investors to park their investment in gold, the safe-haven asset during uncertainty.
Analysts note that the fall in the U.S. Treasury yields is the driver for the ornamental metal. But its revival has been slow and somewhat lacklustre considering its slump of 7% last month after the Fed hinted at a hawkish stance on monetary policy.
7 July 2021
Gold prices in Lucknow remains constant
Gold prices in Lucknow remained unchanged today despite falling bullion markets as the metal experiences its worst week after strong US data. Gold prices in Lucknow were seen at Rs.45,370/- for 10 grams of 22-carat gold and Rs.49,570/- for 10 grams of 24-carat gold.
In the international platform, spot gold was seen at $ 1,768.60 an ounce; US gold futures at $ 1,765.40 an ounce.
The ornamental metal slipped badly during the week as it recorded its worst week in April following strong US economic data. Data released Thursday night shows US economic growth accelerated in the first quarter, with fiscal stimulus fueling consumer spending habits.
Analysts note that the string of robust and ongoing US economic data weighs on the precious metal. People are likely to turn a profit at the end of the month after a decent run in ornamental metal.
Apart from that, the firm value of the dollar and the rise in yields of the US Treasury also led to the fall in the value of the safe haven.
1 May 2021
The gold prices in Lucknow remains flat
Gold prices have been flat in Lucknow despite falling bullion prices in international markets amid the strength of the U.S dollar and Treasury yields. Gold prices in Lucknow were Rs.49,650/- for 10 grams of 22-carat gold and Rs.54,160/- for 10 grams of 24-carat gold.
In overseas markets, spot gold was seen at $ 1,870.20 an ounce; US gold futures at $ 1889.30 per ounce.
The precious metal slipped from its key technical value of $ 1,900 as it is set to witness its first weekly decline after gains in the US dollar and Treasury yields ahead of the release of US non-farm payroll data.
Nonfarm payroll figures in the United States will give more clues about Americas health.
The strong rally in equity markets around the world also supported the decline in the precious metals prices during todays session.
The roll-out of the vaccine in some of the Western countries has given investors hope for a revival of the global economy in the days to come.
The 10-year benchmark bond yield hit new highs for the first time since March 2020, supporting the rally in the dollar to reach the one-week high.
8 January 2021
The Gold rates in Lucknow rises
Gold rates rose slightly in Lucknow, although they were stable in international markets, as investors turned to the US election and stimulus aid. Gold prices in Lucknow were spotted at Rs.49,310/- for 10 grams of 22 karats and Rs.53,790/- for 10 grams of 24 karats.
In the international scenario, spot gold was trading at $ 1,914.80 an ounce; US gold futures were at $ 1,908.20 an ounce.
Metal prices were stable in the bullion markets and exceeded $ 1,900. Investors are waiting for signs of whether a new stimulus package will be available before the US presidential election on November 3.
The US dollar and gold share an inverse relationship. The fall in the value of the dollar will increase the price of gold and vice versa.
Today, the US dollar index fell 0.2% against a basket of competing currencies and provided support for the precious metal.
The growth prospects of the announcement of a new coronavirus stimulus bill by the US government have kept the jewelry metal afloat. Ornamental metal has managed to gain more than 26%, so far this year, thanks to widespread stimulus measures put in place by central banks around the world to cushion the slow economic growth induced by the pandemic.
20 October 2020
Gold prices in Lucknow rises
Gold prices in Lucknow rose sharply following signals from global markets as bullion headed for a sixth weekly gain on soaring virus cases. Gold prices in Lucknow have been recorded at Rs 47,900/- for 10 grams of 22-carat gold and Rs 49,100/- for 10 grams of 24-carat gold.
In foreign markets, spot gold was trading at $ 1,821.10 an ounce and US gold futures were at $ 1,811.90 an ounce. Gold, the precious metal, has hit sky-high prices as a record increase in pandemic infection cases in the United States has fueled uncertainty about the economic recovery as the weaker greenback has also supported its rally in international markets.
The growing number of cases in America has prompted some states to re-impose partial lockdowns, with the world record for epidemic cases crossing 13.89 million. The escalating tensions between the United States and China have also dampened the spirit of rapid recovery in the global economy, which is facing a slump due to the coronavirus crisis.
18 July 2020
The gold rates in Lucknow climbs
The gold rates in Lucknow mounted slightly dese remained unchanged in the global market amid the impact of coronavirus. In the national market, the precious metal prices in Lucknow were seen trading at Rs.43,120/- per 10 grams of 22-carat gold and Rs.45,120/- per 10 grams of 24-carat gold. In the overseas market, the spot gold has inched up 0.1% at $1,690.08 per ounce and U.S gold futures have fallen 0.6% to $1,741.40 an ounce. Gold has been on the bright side for the past two to three weeks. The coronavirus pandemic, which has affected global economic growth, has forced nations to extend blockades to reduce their spread, and central banks have announced a wave of fiscal and monetary support measures to mitigate the financial cost. European Union finance ministers also agreed to half a trillion euros of financial support but left open the question of how to finance recovery in the bloc.
13 April 2020
The Gold Rates in Luckonw edges up
Gold prices in Lucknow increased to its record level following indications in the bullion market amid a trade agreement between the United States and China.
On the local market, precious metal prices in Lucknow were recorded at Rs.37,750/ - for 10 grams of 22-carat gold and Rs.38,950 / - for 10 grams of 24-carat gold. In the international market, spot gold rose 0.3% to $ 1,503.02 an ounce and U.S gold futures rose 0.2% to $ 1,507.40 l an ounce.
The data was weak before Christmas in the United States and we have not yet seen anything signed or concrete concerning the phase one trade agreement. US President Donald Trump said yesterday that there will be a signing ceremony with Chinese President Xi Jinping for the first phase of the agreement.
Beijing confirmed the news by saying that they were in close contact with Washington for the signing. Economic data from the United States is closely monitored to uncover clues to the central banks future monetary trajectory. Gold is sensitive to rising interest rates, which increases its opportunity cost.
26 December 2019
Gold Prices In Lucknow Declines
The gold prices in Lucknow declined following cues from the global platform wherein the U.S. and China are planning to sign the trade deal to end the dispute which shook the global equity markets for over 16 long months. The gold rates in Lucknow today were recorded at Rs 37,000 for 10 grams of 22 karats and Rs 38,200 for 10 grams of 24 karats. The growing optimism over the trade deal between the U.S. and China followed by the eagerness and willingness of both the countries to sign the trade deal at the earliest by this year-end has led to the decline in the prices of jewellery metal. The trade war boosted the prices of gold as it managed to raise over 14% during fiscal 2019 alone as investors tried to safeguard their investment amidst an ugly trade battle. The tit for a tat trade dispute has managed to erode the global economy. In a note, Goldman Sachs notes that the heightened political uncertainty added with a modest acceleration in growth supported investment in gold.
25 November 2019
Gold rates in Lucknow dips
The gold rate in Lucknow dipped today following cues in the international market amidst trade tensions between U.S and China. The gold rate in Lucknow declined today to settle at Rs.36,500/- per 10 grams of 22-carat gold and Rs.37,510/- per 10 grams of 24-carat gold. In the international market, spot gold was low 0.1% at $1,499.89 per ounce and U.S gold futures also declined by 0.2% at $1,510.80 an ounce.
The yellow metal price dipped today after a huge hike in the global market due to rallied equities. Financial markets are now showing interest with little bit good news from trade talks between worlds biggest two economies. China said that it would hold trade talks by phone in two weeks and the United States says that it will postpone some of the tariffs.
Lower U.S. interest rates holding the dollar and bond yields, increasing the appeal of non-yielding bullion. The dollar was trading constantly against a basket of six major traded currencies.
14 August 2019
Disclaimer: The gold rates are sourced from local jewellers in the city. There maybe variance in rates and prices. GoodReturns.in has made every effort to ensure accuracy of information provided; however, Greynium Information Technologies Pvt Ltd, its subsidiaries and associates do not guarantee such accuracy. The rates are for informational purposes only. It is not a solicitation to buy, sell in precious gold. Greynium Information Technologies Pvt Ltd, its subsidiaries, associates do not accept culpability for losses and/or damages arising based on gold information provided.
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