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Gold Rate in Andhra Pradesh
Gold rate in Andhra Pradesh depends on several factors including its extensive use - from decking up idols during auspicious festivals (including religious processions common in this part of the country) and intricate bridal jewellery to gold bars and biscuits, to name a few. Andhra Pradesh is one of the largest producers of gold in the country. According to a detailed mapping by the Geological Survey of India in the recent past, Andhra Pradesh has around 7 million tonnes of ore. Significantly, Andhra Pradesh has one of the only three gold fields of the country, namely, the Ramgiri Gold Field in Anantpur district. Other areas with gold deposits include Bisanattam and Palachchur in Chittoor district in addition to Jonnagiri in Kumool district.
Owing to age-old traditions, diverse communities cutting across age barriers, buy gold in the state throughout the year. However, there is a marked rush for gold during Akshaya Tritiya (considered one of the most auspicious days of the year) when jewellers offer attractive discounts and free gifts to boost sales. There are long queues outside jewellery malls during Diwali festivities as well. The commercial tax department regularly cracks down on bullion traders, who try to evade the 1% value added tax (VAT) on sale of the yellow metal.
Gold Rate Trend in Andhra Pradesh for October 2018 to December 2018 (per gram of 24 karat gold)
|1st day||Rs.3,071 per gram||Rs.3,184 per gram||Rs.3,045 per gram|
|Last day||Rs.3,188 per gram||Rs.3,045 per gram||Rs.3,165 per gram|
|Highest price||Rs.3,211 per gram on 15 October||Rs.3,196 per gram on 6 November||Rs.3,192 per gram on 11 December|
|Lowest price||Rs.3,071 per gram on 1 October||Rs.3,045 per gram on 30 November||Rs.3,045 per gram on 1 December|
Gold rate trend in Andhra Pradesh in October 2018
- For the month of October, gold trends showed positive cues due to the weakening of the dollar against other currencies.
- Gold opened at Rs.3,071 per gram and increased to the highest price of the month at Rs.3,211 per gram by mid-month. The US-China trade war and the ongoing Brexit negotiations played a factor in the fall of markets. Investors shifted to the bullion due to this, causing an increase in global demand.
- In the second half of the month, local demand increased because of the festivals of Diwali and Dhanteras to be celebrated early next month.
- The precious metal closed at Rs.3,188 per gram with a percentage increase of 4.36.
Gold rate trend in Andhra Pradesh in November 2018
- Gold trends were downward in November as the dollar recovered along with the global markets.
- On 1 November, the price of the metal opened at Rs.3,184 per gram and was steady till the first week of the month due to Diwali.
- However, gold trends were poor for the rest of the month as local demand decreased post the festive season in the country. In addition, the import business also was down as the rupee weakened against the dollar.
- By the end of the month, gold closed at Rs.3,045 per gram with a record decline of 4.36%.
Gold rate trend in Andhra Pradesh in December 2018
- In December, gold trade moved towards a positive trend, recovering from the previous month. The markets fell considerably resulting in the decrease in the dollar value against other currencies.
- Gold opened the month at Rs.3,045 per gram in Andhra Pradesh and increased to reach the highest price in December at Rs.3,192 per gram.
- Apart from the US-China trade truce contributing to the gold trade trends of the month, local demand also played a role due to the wedding season in the country.
- At the end of the month, gold trade closed with a percentage incline of 3.94 at Rs.3,192 per gram.
Gold Rate Trend in Andhra Pradesh for July 2018 to September 2018 (per gram of 24 karat gold)
|1st day||Rs.3,059 per gram||Rs.2,983 per gram||Rs.3,029 per gram|
|Last day||Rs.2,986 per gram||Rs.3,036 per gram||Rs.3,074 per gram|
|Highest price||Rs.3,071 per gram on 6 July||Rs.3,036 per gram on 31 August||Rs.3,091 per gram on 19 September|
|Lowest price||Rs.2,986 per gram on 31 July||Rs.2,940 per gram on 16 August||Rs.3,019 per gram on 3 September|
Gold Rate Trend in Andhra Pradesh for July 2018
- Gold rates were steady as the month began but the strong dollar and bullish stock markets reduced investor interest in the metal towards the end of the month.
- The precious metal opened trading at Rs.3,059 per gram, bolstered by stable industrial demand and a flat dollar.
- The end of the festive season resulted in a decline in retail demand, but overseas demand was still strong.
- A steady decline was observed in the third week, when overseas industrial demand suffered due to poor offtake from traditional gold consumers like China.
- The month ended with gold rates in Andhra Pradesh falling to Rs.2,986 per gram on 31 July to record a loss of 2.38%.
Gold Rate in Andhra Pradesh for August 2018
- There was a marginal increase in demand for the yellow metal this month, as the threat of economic sanctions against China and Iran by the U.S. fuelled a rise in safe-haven buying.
- Gold was priced at Rs.2,983 per gram on 1 August and traded more or less constant for a few weeks, as local demand echoed sluggish international trends.
- Prices plunged to Rs.2,940 per gram on 14 August as global markets enjoyed a bull run and the dollar also rose sharply against the rupee.
- Interest in gold picked up after fears of an economic downturn due to stalling Brexit negotiations and an economic crisis in Italy.
- As the dollar dropped, gold rates in Andhra Pradesh rose to Rs.3,036 per gram at the end of the month to record a rise of 1.77% during the month.
Gold Rate Trend in Andhra Pradesh for September 2018
- The continued rise of the dollar against the rupee dampened interest in the precious metal, as gold opened the month at Rs.3,029 per gram.
- Strong local markets clashed with contrasting overseas trends as bullion prices dropped to Rs.3,019 per gram 3 September.
- Fears of an economic downturn due to the imposition of U.S. tariffs on Chinese goods saw a sharp spike in bullion sales, as gold prices in Andhra Pradesh revived.
- Local jewellers began stocking up for the upcoming festive season and thereby increased gold orders, which led to prices rising to Rs.3,091 per gram on 19 September.
- The continued rise of the dollar and high fuel costs affected bullion sales locally, as gold ended the month at Rs.3,074 per gram.
Gold Rate Trend in Andhra Pradesh for April 2018 to June 2018 (per gram of 24 karat gold)
|1st day||Rs.3,072 per gram||Rs.3,114 per gram||Rs.3,100 per gram|
|Last day||Rs.3,123 per gram||Rs.3,122 per gram||Rs.3,054 per gram|
|Highest price||Rs.3,153 per gram on 19 April||Rs.3,147 per gram on 14 May||Rs.3,119 per gram on 9 & 10 June|
|Lowest price||Rs.3,064 per gram on 6 April||Rs.3,103 per gram on 2 May||Rs.3,054 per gram on 30 June|
Gold Rate Trend in Andhra Pradesh for April 2018:
- Gold was priced at Rs.3,072 per gram when trading began in Andhra Pradesh for the second quarter of 2018.
- Demand was on the higher side this month as the US and NATO’s joint force conducted a joint strike on Syria. This caused uncertainty in the market and the US dollar plummeted owing to this.
- As safe haven demand surged due to the aforementioned reason, gold rates in Andhra Pradesh and other major cities in the world also rose.
- The US dollar failed to recover from the fall as gold demand was on the rise and investors began to take advantage of the situation.
- Gold was trading at its lowest on the 6th when it was priced at Rs.3,064 per gram - as demand was yet to soar.
- Gold was at its highest this month on the 19th when it traded at Rs.3,153 per gram - as demand skyrocketed ahead of strong cues from the global market.
- Price trends recorded a 1.66% incline this month, thanks to a strong demand.
Gold Rate Trend in Andhra Pradesh for May 2018:
- When trading for May began, gold was priced at Rs.3,114 per gram - a Rs.9 drop from the previous day’s rates.
- Demand was slow this week as the US dollar picked up and local demand slowed down as a result.
- The metal was at its lowest on the 2nd when it traded at Rs.3,103 per gram - a rapid slow down owing to poor demand. This picked up over the course of the month, reaching the highest point on the 14th when it traded at Rs.3,147 per gram.
- When the month ended, gold was priced at Rs.3,122 per gram - a Rs.8 more than the month’s starting rates.
- Price trends recorded a 0.25% incline this month, owing to a slightly uneven demand. The prices, however, signaled a much weaker end to the quarter.
Gold Rate Trend in Andhra Pradesh for June 2018:
- When trading began for the final month of Q2 2018, gold was priced at Rs.3,100 per gram.
- This month was really bad for gold trading as demand was on the weaker side, owing to a strong market and a stronger Fed rate meeting, both of which pointed towards a rate hike later in the year.
- The aforementioned development weighed heavily on the yellow metal. This caused gold rates to plummet worldwide, including all the major cities in the country.
- Gold traded at its highest on the 9th and 10th, when it was priced at Rs.3,119 per gram. Consequently, the lowest rate for the month was recorded on the last day when it traded at Rs.3,054 per gram.
- Price trends fell by a significant 1.48% owing to a strong dollar and a weakened local demand.
Gold Rate Trend in Andhra Pradesh for January 2018 to March 2018 (per gram of 24 karat gold)
|1st day||Rs.3,009 per gram||Rs.3,040 per gram||Rs.3,043 per gram|
|Last day||Rs.3,045 per gram||Rs.3,046 per gram||Rs.3,072 per gram|
|Highest price||Rs.3,129 per gram on 25 January||Rs.3,103 per gram on 14 February||Rs.3,105 per gram on 24 and 25 March|
|Lowest price||Rs.3,000 per gram on 4 January||Rs.3,003 per gram on 8 February||Rs.3,030 per gram on 19 March|
Gold Rate Trend in Andhra Pradesh for January 2018:
- Trading began for the month with the precious metal priced at Rs.3,009 per gram on the 1st with the dollar capitalising on its gains from the previous session.
- The strengthening US dollar compounded with firm equity markets led to gold rates in Andhra Pradesh plummeting to Rs.3,000 per kg on the 4th. This was also the lowest recorded figure during the month.
- The dollar, however, tumbled the next week with the poor US jobs and payrolls data reporting a decline in the number of US employed jobs contributing to the country’s economic growth.
- This led to the bullion capitalising on the weakened dollar and prices remained on the stronger side for much of the remaining month.
- Furthermore, the weaker-than-expected US inflation data led to an increase in safe-haven demand for the yellow metal and gold was priced at Rs.3,129 per kg on the 25th amid the positive trend overseas.
- The month concluded with gold rates stabilising at Rs.3,072 per gram on the 31st with steady demand from local jewellers, retailers and industries amid firm market trends.
- Andhra Pradesh registered an incline of 1.19% in prices during the month owing to strong global cues that pushed demand higher for the metal at the domestic level.
Gold Rate Trend in Andhra Pradesh for February 2018:
- When the month began, the bullion was recorded trading at Rs.3,040 per gram on the 1st after a poor trend overseas led to a decline in demand from the previous month.
- With the US dollar index gaining against other emerging currencies, the greenback strengthened. This led to rates declining over the next few days and gold prices were recorded holding at a monthly low of Rs.3,003 per gram on the 8th amid the weak overseas trend.
- However, an increase in demand on the domestic front ahead of Valentine’s Day resulted in prices improving the next week.
- The precious metal was recorded trading at Rs.3,103 per gram - the highest recorded monthly figure - on the 14th.
- The rest of the month saw gold rates in Andhra Pradesh tumbling with the US greenback regaining lost ground on the back of the recovering equities market.
- Gold trade concluded for the month with the bullion priced at Rs.3,046 per gram on the 28th, recording a rise of 0.19% in gold trade due to the firm global cues that held demand steady for much of the month.
Gold Rate Trend in Andhra Pradesh for March 2018:
- The final month of the quarter commenced with gold prices in Andhra Pradesh holding at Rs.3,043 per gram on the 1st.
- Gold rates fluctuated considerably due to demand vagaries brought about by the uneven market trends during the month.
- Strong dollar performances coupled with higher gains on equities led to gold rates plunging to Rs.3,030 per gram on the 19th. This was also the lowest recorded monthly figure in the state.
- However, with investors and stockists concerned over a possible trade war between the US and China following the newly released US tariffs, demand for the safe-haven asset surged.
- This led to gold rates rising to Rs.3,105 per gram - the highest recorded monthly figure - on the 24th.
- The first quarter came to an end with the precious metal trading at Rs.3,072 per gram with steady demand from local retailers, industries and jewellers amid firm overseas trends.
- Strong geopolitical cues coupled with an increased safe-haven demand for the metal led to gold prices inclining by 0.95% in Andhra Pradesh during the month.
Gold Rate Trend in Andhra Pradesh for October 2017 to December 2017 (per gram of 24 karat gold)
|1st day||Rs.3,040 per gram||Rs.2,974 per gram||Rs.2,982 per gram|
|Last day||Rs.2,996 per gram||Rs.2,996 per gram||Rs.3,015 per gram|
|Highest price||Rs.3,059 per gram on 14 and 15 October||Rs.3,030 per gram 18 to 20 November||Rs.3,015 per gram on 30 and 31 December|
|Lowest price||Rs.2,996 per gram on 31 October||Rs.2,974 per gram on 1 and 6 November||Rs.2,906 per gram on 13 December|
Gold Rate Trend in Andhra Pradesh for October 2017:
- When trading commenced in Andhra Pradesh, the precious metal was recorded trading at Rs.3,040 per gram on the 1st amid strong trends overseas.
- The next few days saw the US dollar index surging against other emergencies amid possibilities of an interest rate hike by the Federal Reserve.
- On the 6th, the yellow metal prices were recorded holding at Rs.2,997 per gram amid the poor trends overseas.
- A rise in domestic demand from local jeweller, retailers and industries ahead of the festive season resulted in rates rising to Rs.3,027 per gram on the 9th.
- The 14th saw gold rates hitting the highest recorded monthly figure at Rs.3,059 per gram amid the positive trends overseas.
- However, with the US doll regaining lost ground, prices dropped to Rs.3,026 per gram on the 20th.
- The month concluded with the yellow metal trading at Rs.2,996 per gram on the 31st amid the strengthened US dollar and firmer equities market.
- Poor global cues coupled with reduced domestic demand resulted in bullion prices dropping by 1.44% during the course of the month.
Gold Rate Trend in Andhra Pradesh for November 2017:
- The month opened with the precious metal priced at Rs.2,974 per gram on the 1st with relatively lower demand for the metal from the previous week.
- The next few days saw gold rates remaining unchanged with the US dollar performing well amid stronger equities. Gold prices were recorded holding at Rs.2,974 per gram until the 6th of November.
- With the US-North Korean diplomatic relations worsening, safe-haven demand for the metal surged during the month. The yellow metal was priced at Rs.3,015 per gram amid strong demand.
- Thanks to an increased demand from local jewellers, retailers and industries amid the strong trends overseas, god rates surged to Rs.3,030 per gram on the 19th.
- However, prices plunged to Rs.3,009 per gram on the 28th after the promising US tax reform plan produced by President Trump at the US Senate resulted in the US dollar gaining against a basket of other emerging currencies.
- The month concluded with the precious metal prices holding at Rs.2,998 per gram due to reduced domestic demand for the metal amid poor trends overseas.
- Gold rates saw an incline of 0.73% during the course of the month.
Gold Rate Trend in Andhra Pradesh for December 2017:
- The final month of the quarter commenced with the bullion priced at Rs.2,982 per gram on the 1st after the strong US dollar index resulted a decline in domestic demand for the metal.
- Prices continued to drop as the month progressed amid the rising dollar and equities. The yellow metal was recorded trading at Rs.2,968 per gram on the 5th.
- With the US greenback and equity markets gaining significantly after the approval of the US tax bill, gold rates plummeted over the next few days.
- On the 12th, the precious metal was recorded trading at Rs.2,908 per gram which plunged further to hit its lowest recorded monthly figure of Rs.2,906 per gram on the 13th ahead of the US Federal Reserve’s monetary policy meeting.
- However, the Fed rate hike proved to have a negative impact on the economy and pushed demand higher for safe-haven assets such as the bullion. This led to gold prices rising to Rs.2,933 per gram on the 19th.
- The 23rd saw rates surging further to Rs.2,956 per gram with the Asian stocks failing against the revised US tax cuts, thus, pushing demand higher for the yellow metal.
- The month came to an end with the bullion priced at Rs.3,015 per gram on the 31st amid strong global cues.
- Gold trade in Andhra Pradesh registered a profit of 1.10% owing to strong domestic demand amid the firm trends overseas.
Gold Rate Trend in Andhra Pradesh for July 2017 to September 2017 (per gram of 24 karat gold)
|1st day||Rs.2,950 per gram||Rs.2,931 per gram||Rs.2,995 per gram|
|Last day||Rs.2,920 per gram||Rs.2,965 per gram||Rs.3,040 per gram|
|Highest price||Rs.2,950 per gram on 1 & 2 July||Rs.2,977 per gram on 12 & 13 August||Rs.2,995 per gram on 1 September|
|Lowest price||Rs.2,800 per gram on 14 July||Rs.2,900 per gram from 5- 7 August||Rs.3,071 per gram on 7 September|
Gold Rate Trend in Andhra Pradesh for July 2017:
- The Indian government officially introduced the Goods and Services Tax bill, which came with a 3% rate on gold purchases.
- This new development pushed the Indian bullion industry to record significantly lower trading numbers.
- On the 1st of July, gold was priced at Rs.2,950 per gram, which was the highest gold rate for the month.
- From the 2nd onwards, gold rates in Andhra Pradesh were on the decline as the US economy rose after the latest job data came showed some positive changes.
- Gold rates in Andhra Pradesh were at their lowest on the 14th, when the metal traded at Rs.2,800 per gram.
- However, demand seemed to improve towards the end of the month, and the metal traded at Rs.2,920 per gram on the final day of the month.
Gold Rate Trend in Andhra Pradesh for August 2017:
- Gold trading in August recovered after undergoing a torrid period the previous month.
- On the 1st of August, the yellow metal was priced at Rs.2,931 per gram.
- A stronger than expected US economic data pushed gold rates down during the first week. This led to gold trading at a monthly low figure of Rs.2,900 per gram on the 7th of the month.
- Prices seemed to improve after the effects of a strong US dollar wore off.
- Towards the end of the month, gold rates in Andhra Pradesh seemed to increase. This was because of an increase in demand.
- When the month ended, gold was priced at Rs.2,965 per gram and price trend surged by 1.16% due to various factors, including strong demand and weak dollar.
Gold Rate Trend in Andhra Pradesh for September 2017:
- On the first of September, gold was priced at Rs.2,997 per gram.
- Prices surged significantly to Rs.3,100 per gram on the 8th as safe-haven investments increased amid the intensifying US- North Korea concerns.
- Gold rates slowly decline to hit the sub-Rs.3,040 per gram range for much of the month as the US dollar improved after the initial fall.
- When the month came to a close, gold prices were holding at Rs.3,030 per gram.
- Price trends inclined by 1.43% this month, thanks to a resurgent demand for the metal, brought about by a shaky US dollar.
Gold Rate Trend in Andhra Pradesh for April 2017 to June 2017 (per gram of 24 karat gold)
|1st day||Rs.2,956 per gram||Rs.2,984 per gram||Rs.2,977 per gram|
|Last day||Rs.2,984 per gram||Rs.2,968 per gram||Rs.2,962 per gram|
|Highest price||Rs.3,040 per gram on 15 & 16 April||Rs.2,984 per gram on 1 May||Rs.3,030 per gram on 7 June|
|Lowest price||Rs.2,954 per gram on 8 & 9 April||Rs.2,888 per gram on 15 May||Rs.2,942 per gram on 20 June|
Gold rate trend in Andhra Pradesh for April 2017
- Demand for gold was on the rise in Andhra Pradesh as the month began, with gold priced at Rs.2,956 per gram on 1 April and rising to Rs.2,983 per gram on 5 April.
- The tenuous U.S. dollar rate led to an increase in demand for safe-haven assets like gold as industrial demand from Asia kept prices high.
- Prices stabilised as the weeks progressed, with gold priced at Rs.2,954 per gram from 8-10 April due to a recovery by the markets following positive U.S. jobs data.
- Demand spiked once again as gold traded at Rs.3,031 per gram on 14 April as the dollar slumped following fresh allegations against the Trump administration.
- Gold continued to gain as local demand was also high, with demand from jewellers rising ahead of auspicious days.
- Prices reached Rs.3,035 per gram on 22 & 23 April before dropping to Rs.2,964 per gram on 26 April due to sharp cutbacks in demand from industrial units.
- Gold ended the month trading at Rs.2,984 per gram on 30 April as strengthening markets led to lower demand for the yellow metal.
Gold rate trend in Andhra Pradesh for May 2017
- The price of gold was low as the month began as markets were bullish due to the upcoming French presidential election.
- Gold was priced at Rs.2,984 per gram on 1 May before falling to Rs.2,899 per gram on 6 & 7 May as demand plummeted.
- Prices began to recover but a boost to the U.S. dollar led to a further dip in the price, as gold traded at Rs.2,889 per gram on 11 May.
- Gold prices saw a resurgence as industrial demand rose in the weeks following the election, with the metal trading at Rs.2,956 per gram on 18 May.
- The attack in Manchester led to a fall in markets as investors rushed to safe-haven assets like gold, pushing prices higher to Rs.2,979 per gram on 23 May.
- Local demand also rose in the wake of the falling dollar and overseas trends, resulting in gold prices remaining stable.
- Prices dipped marginally as the month drew to an end, with gold priced at Rs.2,977 per gram on 27 May before ending the month at Rs.2,963 per gram on 31 May.
Gold rate trend in Andhra Pradesh for June 2017
- Gold was priced at Rs.2,985 per gram on 1 June, with prices rising due to favourable market conditions as well as higher local demand.
- Prices reached Rs.3,030 per gram on 7 June as markets dropped on poor U.S. job market results, but demand for gold fell in the subsequent days as the metal traded at Rs.2,981 per gram on 10 June.
- Prices continued to drop as the markets recovered ahead of the G20 summit, resulting in gold prices falling to Rs.2,949 per gram on 19 June.
- Demand was poor for the remainder of the month, though prices rose marginally to trade at Rs.2,964 per gram on 24 June.
- Prices rose to Rs.2,977 per gram on 26 June as local demand was high but prices dipped as the week ended.
- Industrial demand began to pick up towards the end of the month but conflicting cues resulted in prices remaining low, as gold ended the month at Rs.2,967 per gram on 30 June.
Gold Rate Trend in Andhra Pradesh for January 2017 to March 2017 (per gram of 24 karat gold)
|1st day||Rs.2,884 per gram||Rs.2,985 per gram||Rs.3,054 per gram|
|Last day||Rs.2,985 per gram||Rs.3,054 per gram||Rs.3,011 per gram|
|Highest price||Rs.2,997 per gram from 16th to 27th January||Rs.3,054 per gram from 24th to 28th February||Rs.3,054 per gram on 1st and 2nd March|
|Lowest price||Rs.2,884 per gram on 1st & 3rd January||Rs.2,985 per gram on 1st February||Rs.2,968 per gram on 15th of March|
Gold Rate Trend in Andhra Pradesh for January 2017:
- Gold performed fairly well in the opening month of the new year as prices seemed to record an increase over the course of January.
- Gold trading increased significantly as the month progressed, thanks in large to more cash making its way back into the system following the effects of demonetisation. More cash meant that investment in gold also increased.
- The availability of cash in addition to the United States’ monetary policy ensured that markets were volatile, thereby increasing the investment in the precious metal.
- Gold was seen trading at Rs.2,884 per gram on the 1st of January but a minor decline in demand saw rates go down to Rs.2,872 per gram on the following day.
- Rs.2,884 per gram on the 1st and 3rd of January was the lowest recorded rate of gold in the month.
- Gold prices kept increasing from the 3rd of January and the value of the precious metal was recorded at Rs.2,908 per gram on the 9th of the month.
- Prices hit Rs.2,997 on the 16th of month and remained stable until the 27th, and this was the highest recorded rate in the entire month.
- Prices then remained stable to end the month at Rs.2,985 per gram, marking an overall increase of 3.50% between the first and last day of January.
Gold Rate Trend in Andhra Pradesh for February 2017:
- Gold prices during the month of February fluctuated to a significant extent, but also gained stability on few days in succession, recording an overall increase between the first and last day of the month.
- The value of gold per gram on the 1st of February was recorded at Rs.2,985, which was also the lowest recorded gold rate for the month.
- On the 2nd, gold prices increased to Rs.3,014 per gram and remained stable at the same rate until the 7th as demand found stability amongst investors.
- On the 8th of the month, gold prices went up by Rs.20 to hit Rs.3,034 per gram and remained stable for the following two days before recording a minor slump and falling to Rs.3,013 per gram on the 10th of the month.
- The US Federal Reserve decided to hike the interest rate around this time of the month, so gold prices remained stable at Rs.3013 for a week after which they came crashing down.
- Domestic demand for the precious metal increased as the month progressed and prices remained stable as gold was seen trading at Rs.3,024 per gram on the 16th of the month.
- Demand for gold picked up significantly in the last week of the month as the precious metal was seen trading at Rs.3,054 per gram, which happened to be the highest recorded gold rate for the month of February.
- The overall change in rates between the start and end of February was an increase of 2.33%, thanks to stable demand from domestic investors.
Gold Rate Trend in Andhra Pradesh for March 2017:
- Gold prices in the month of March recorded a decline between the first and last day of the month as lack of global demand was met by the subsequent lack of domestic demand.
- The US Federal Reserve decided to increase the interest rate for the second successive month, due to which, investors weren’t too keen to purchase bullion.
- Gold was trading at Rs.3,054 per gram on the first day of the month, but prices kept reducing as the month progressed.
- Rs.3,054 on the 1st and 2nd of March was the highest recorded rate of the precious metal over the course of the month.
- Gold prices were at their lowest on the 15th of March, when they fell to Rs.2,968 per gram.
- However, a rally in prices from mid-way through the month until the end saw the precious metal ward off fluctuations to end March at Rs.3,011 per gram.
|1st day||Rs.3,152 per gram||Rs.3,065 per gram||Rs.2,893 per gram|
|Last day||Rs.3,067 per gram||Rs.2,942 per gram||Rs.2,821 per gram|
|Highest price||Rs.3,152 per gram on 1st & 2nd October||Rs.3,166 per gram on 9th November||Rs.2,895 per gram on 2nd December|
|Lowest price||Rs.3,021 per gram on 15th & 16th October||Rs.2,914 per gram on 25th November||Rs.2,767 per gram on 26th December|
Gold Rate Trend for Andhra Pradesh in October 2016
- The price of gold in Andhra Pradesh for October declined overall, though trading opened at Rs.3,152 per gram on strong demand from the industrial sector and higher demand from the retail sector due to the upcoming festive season.
- Gold prices fell sharply in the second week due to a strengthening U.S. Dollar as positive economic data led to a drop in demand for bullion.
- Global markets made gains as currency markets and overall conditions were conducive, leading to a lowering of demand for gold.
- Uncertainty over the results of the upcoming U.S. presidential election caused markets to fluctuate, which increased demand for gold towards the end of the month.
- Gold closed the month at Rs.3,067 per gram, losing 2.69% in value due to declining demand.
Gold Rate Trend for Andhra Pradesh in November 2016
- The price of gold rose during the first week of November due to an increase in industrial demand for gold, which bolstered flagging demand across the globe.
- Prices were stable as the U.S. election results were declared, leading to a drop in market indices and currency markets, though domestic demand did not make any significant gains.
- The surprise announcement of the demonetisation of high-value currency notes led to chaos on local bourses, which led to increased demand for gold.
- Prices began to fall as a currency shortage affected most of the country after demonetisation, which reduced demand for gold during the festive season.
- Prices remained low as gold fell by over 4% to trade at Rs.2,942 per gram on 30th November.
Gold Rate Trend for Andhra Pradesh in December 2016
- Poor demand kept gold prices low in December, with reduced demand due to the cash shortage, as gold traded at Rs.2,893 per gram on 1st December.
- Declining interest in bullion kept gold prices low, as international demand began to fall in the run-up to the festive season.
- Prices fell to a quarterly low of Rs.2,767 per gram on 26th December as domestic as well as international demand dropped due to high currency and stock markets.
- A marginal recovery was seen towards the end of the month, as gold traded at Rs.2,821 per gram due to increasing interest in the metal as a slowdown in Asia seemed imminent.
|1st day||Rs.3,112 per gram||Rs.3,249 per gram||Rs.3,212 per gram|
|Last day||Rs.3,249 per gram||Rs.3,225 per gram||Rs.3,279 per gram|
|Highest price||Rs.3,246 per gram on 6th and 7th July||Rs.3,283 per gram on 18th August||Rs.3,285 per gram from 24th to 26th September|
|Lowest price||Rs.3,112 per gram on 1st July||Rs.3,225 per gram on 31st August||Rs.3,212 per gram on 1st and 2nd September|
Gold Rate Trend of Andhra Pradesh in July 2016
- Gold prices were recorded at Rs.3,112 per gram on 1st July, and prices increased consistently during the first week of the month, after which fluctuations occurred.
- Prices gained stability at Rs.3,226 between the 11th and 15th of July, and at Rs.3,234 between the 16th and 18th, after which they began to fall.
- Prices remained unchanged at Rs.3,223 from the 22nd to the 30th of the month thanks to firming trends.
- The highest rate was recorded on the 6th and 7th of July at Rs.3,246 per gram.
- The month closed with gold trading at Rs.3,249 per gram on 31st July.
Gold Rate Trend of Andhra Pradesh in August 2016
- The rate of gold on the 1st of August was recorded at Rs.3,249 per gram.
- Prices fluctuated as the month wore on, increasing and declining on certain days until stability was achieved at Rs.3,226 between the 6th and 9th.
- The highest recorded rate in August was on the 18th when prices soared to Rs.3,283.
- Prices then declined gradually and the precious metal closed the month at Rs.3,225 per gram.
- Prices declined by 0.73% between the start and end of August.
Gold rate trend of Andhra Pradesh in September 2016
- Gold traded at Rs.3,212 per gram on 1st and 2nd September, which was the lowest rate for this month.
- The highlight for this month was that the interest rate hike by the U.S. Federal Reserve was put on hold as the U.S. presidential elections were too close.
- Prices remained stable from the 3rd of September to the 12th at Rs.3,229.
- Prices rose gradually until the 24th when they hit Rs.3,285 per gram and remained stable until the 26th of September.
- Prices remained constant for the last four days of the month and closed September at Rs.3,279 per gram.
- The overall increase in prices between the first and last day of the month was recorded at 2.09%.
|1st day||Rs.2,989 per gram||Rs.3,154 per gram||Rs.3,038 per gram|
|Last day||Rs.3,154 per gram||Rs.3,018 per gram||Rs.3,112 per gram|
|Highest price||Rs.3,154 per gram on April 30th||Rs.3,155 per gram from the 8th to 11th of May||Rs.3,192 per gram on June 27th and on June 29th|
|Lowest price||Rs.2,989 per gram from April 1st to 11th||Rs.3,003 per gram on the 30th of May||Rs.3,015 per gram on 4th of June|
Gold Rate Trend of Andhra Pradesh in April 2016
- Gold prices remained stable at Rs.2,989 between the 1st and 11th of April.
- Prices rose to Rs.3,038 on the 12th and remained there until the 23rd of the month.
- Following a minor decline, prices then remained stable at Rs.3,033 between the 24th and 28th before recording consecutive increases on the following two days to close the month at Rs.3,154 per gram.
- The overall increase in prices between the first and last day of the month was Rs.165.
Gold Rate Trend of Andhra Pradesh in May 2016
- Gold prices remained unchanged on the first day of May, at Rs.3,154.
- Prices fluctuated during the first week of May, but increased marginally on the 8th and remained unchanged until the 11th at Rs.3,155.
- Fluctuations continued over the month and the lowest price recorded in May was on the 30th when they plunged to Rs.3,003 and closed the month at Rs.3,018.
- The overall decline in prices when comparing the first day of May to the last was Rs.136.
Gold Rate Trend of Andhra Pradesh in June 2016
- Gold prices were recorded at Rs.3,038 on the 1st of June and fluctuated over the course of the month.
- The highest recorded rate in June was between the 27th and 29th when prices soared to Rs.3,259.
- The overall increase in prices between the first and last day of the month was just Rs.74.
|1st day||Rs.2,601 per gram||Rs.2,775 per gram||Rs.3,068 per gram|
|Last day||Rs.2,775 per gram||Rs.3,068 per gram||Rs.2,989 per gram|
|Highest price||Rs.2,789 per gram on January 27th and 28th||Rs.3,068 per gram from February 27th to 29th||Rs.3,093 per gram from March 12th to 16th|
|Lowest price||Rs.2,601 per gram from January 1st to 3rd||Rs.2,775 per gram on 1st and 2nd of February||Rs.2,989 per gram from 22nd to 31st of March|
Gold Rate Trend of Andhra Pradesh in January 2016
- Gold traded at Rs.2,601 per gram on the 1st of January with consistent increases over the next few days resulting in an increase in rates.
- The highest price in the month was recorded on the 27th and 28th when rates soared to Rs.2,789.
- Prices fell on the last day of the month and closed at Rs.2,775, marking an overall increase of Rs.174 between the first and last day of the month.
Gold Rate Trend of Andhra Pradesh in February 2016
- Gold prices were recorded at Rs.2,775 per gram on the 1st of February, followed by consistent increases over the following weeks.
- Gold rates rose to Rs.3,068 on the 27th of the month and remained unchanged until the 29th, making it the highest recorded price during February.
- A steady rise in prices over the 29 days meant that gold closed the month at Rs.3,068 per gram, with an overall increase of Rs.293.
Gold Rate Trend of Andhra Pradesh in March 2016
- Gold prices were recorded at Rs.3,068 on the 1st of March, and prices hardly fluctuated during the course of the month.
- Any change in prices saw them remain stable for a few days, and the highest recorded rate during the month was between the 12th and 16th when prices stood at Rs.3,093.
- Prices then fluctuated until the 22nd when they plunged to Rs.2,989 and remained there until the end of the month, making it the lowest recorded rate over 31 days.
- The overall decline in prices between the first and last day of March was just Rs.79.
Details of Gold Price in Andhra Pradesh(22 Karat & 24 Karat) - Till August 2015
24-karat gold (1 gram rates): Karat is a unit of purity for gold. 24-carat gold is mostly used for gold bars. in Andhra Pradesh. The price of gold has plummeted over the past 12 months with one gram of gold pegged at Rs. 2930 in August last year compared to Rs. 2508 in August this year in Andhra Pradesh. The yellow metal was pegged at Rs. 2609 in July, registering a 4% decrease from Rs. 2730 in June. One gram of gold was pegged at Rs. 2750 in May, showing a marginal decrease from Rs. 2718 at the end of April. Prices have been on the downward spiral with the yellow metal pegged at Rs. 2711 in March, Rs. 2678 in February and Rs. 2840 in January this year. Overall, the monthly and yearly change in the rates of gold have been -5.57% and -9.62% respectively in Andhra Pradesh.
22-karat gold: Twenty-two karat gold is 91.6% pure. It is mostly used for intricate gold jewellery in Andhra Pradesh. The price of 22-karat gold has followed a similar trajectory as that of the 24-karat gold in Andhra Pradesh in terms of fluctuations. One gram of 22-karat gold is pegged at Rs. 2349 in August while it was Rs. 2910 in August last year. The price of gold has been on the decline this year with the precious metal pegged at Rs. 2660 in March and Rs. 2790 in January this year. The strengthening of rupee against dollar is one of the reasons often cited for the falling prices of gold.
Gold as an investment in Andhra Pradesh
All major cities and towns of Andhra Pradesh including Visakhapatnam, Vijayawada and Guntur among many others have large jewellery stores offering a wide range of gold articles suited for different occasions. Andhra Pradesh is among the largest consumers of gold.
Over-the-counter: Gold prices in Andhra Pradesh are volatile, as is the case across the country and can therefore, fluctuate depending on a variety of factors including demand and supply, India’s imports, overall market conditions, macroeconomic factors and strength of the Indian currency. Gold is widely sold in the form of coins, bars and jewellery in Andhra Pradesh. Some of the top jewellery brands in the region include GRT jewellers, Vaibhav Jewellers, Kirtilal and Sons, Lalithambika Jewellers and Hira Panna Jewellers among others which supply pure BIS Hallmarked gold with a wide range of intricate designs.
Market trade: Gold is also traded in spot contracts and exchange-traded funds (ETF). While Gold ETFs are sought-after across the country, demand for gold ETFs has been decreasing for the past two years, according to latest reports. Spot gold trading is preferred by some customers to make use of price volatility and instant access courtesy online brokers.
Also Check Gold Price in Cities of Andhra Pradesh
|Gold Rate in Hyderabad||Gold Rate in Vijayawada||Gold Rate in Visakhapatnam|
|Gold Rate In Guntur||Gold Rate In Nellore||Gold Rate In Kurnool|
|Gold Rate In Rajahmundry||Gold Rate In Kakinada||Gold Rate In Proddatur|
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