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Gold Price in Coimbatore
Coimbatore is the second largest city in the southern state of Tamil Nadu and is one of the fastest growing tier 2 cities in India. It is home to some of the biggest textile and manufacturing industries, which have ensured that the city has a high standard of living. Gold has been the preferred choice of investments among Indians and Coimbatore too has seen a steady increase in gold consumption, regardless of the prevailing gold rates.
Gold rates in Coimbatore depend on market fluctuations and availability. Gold buyers can choose from 22 karat or 24 karat gold, depending on their needs and budget. 22 karat gold is about 92% and the gold rate for this is less than 24 karat gold, which is 99.99% pure.
Trend of Gold Rate in Coimbatore for July 2017 (rates per gram for 24 karat gold)
July 2017 - Week 1 (1st to 9th)
- On the first day of the month, gold traded at Rs.2,950 per gram in Coimbatore and continued to trade at this price the next day as well.
- However, due to reduced demand for this yellow metal, gold rate reduced the next day to be priced at Rs.2,935 per gram.
- There were a number of variations noted in the price of gold as the week progressed.
- As of monetary tightening by many global central banks, the value of the U.S. dollar was quite low.
- The price of gold reduced to trade at Rs.2,900 per gram on 5 July due to a fall in the demand for this metal from domestic markets.
- Gold rate recovered slightly on 6 July to be priced at Rs.2,901 per gram before falling to trade at Rs.2,875 per gram on the last two days of the first week.
July 2017 - Week 2 (10th to 16th)
- Gold rate in Coimbatore remained steady during this week albeit hovering too close to four-month lows in the international market.
- In Coimbatore, the week began on the 10th with gold trading at Rs.2,831 per gram.
- However, positive news about US job growth surfaced, gold prices fell to Rs.2,796 per gram on the 11th.
- The sharp increase in US market data was halted by the controversy about president Trump’s Russia links.
- Gold price in Coimbatore went up by Rs.17 per gram to reach Rs.2,813 per gram on the 12th as the latest Trump family issue brought about an increase in prices.
- The fall in US dollar rate somewhat subsided as gold rates went down marginally to Rs.2,810 per gram on the 13th.
- On the back of rising jobs in the US, dollar rate was somewhat on the increase, leading to gold trading at Rs.2,803 per gram on the 14th.
- As the latest Trump scandal escalated, gold price went up to Rs.2,818 per gram on the 15th and continued at the same rate till the end of the 16th.
Trend of Gold Rate in Coimbatore for June 2017 (rates per gram for 24 karat gold)
|June 1 Rate||Rs.2,977 per gram|
|June 30 Rate||Rs.2,962 per gram|
|Highest Rate in June||Rs.3,030 per gram on 7 June|
|Lowest Rate in June||Rs.2,942 per gram on 20 June|
June 2017 - Week 1 (1st-4th):
- Coimbatore saw gold prices gain start on a comparative high but fall on the second day of the week to pick back up again.
- The 1st of June saw gold trading at Rs.2,977 per gram which then went down to Rs.2,965 per gram due to an unusually buoyant dollar and low demand.
- However, prices went up to Rs.2,998 per gram on 3rd due to misgivings in the US political scene.
- Add to that, the US-EU axis was also strained which led to gold prices maintaining the price of Rs.2,998 per gram when the week came to an end.
June 2017 - Week 2 (5th - 11th)
- In Chennai’s neighbouring city, Coimbatore, gold prices ebbed and flowed throughout the week, owing to shaky demand.
- On the 5th, gold was priced at Rs.3,025 per gram and then went up to Rs.3,030 per gram on the 6th as US Labour Department’s Employment Report created quite a stir.
- The 7th was carried by the momentum from the 6th as prices went up by Rs.5 to reach Rs.3,030 per gram.
- It was consolidation time when the 8th began, and gold prices went down by Rs.18 to Rs.3,012 per gram.
- Prices went down on the 9th as well to Rs.2,987 per gram as demand kept tumbling.
- Gold prices went down to Rs.2,981 per gram on the 10th and remained the same at the end of the week.
June 2017 - Week 3 (12th-18th)
- Due to a number of fluctuations in the demand for this precious metal, there were a lot of variations noted in the rate of gold during the third week of June, in Coimbatore.
- On the first day of the week, gold was priced at Rs.2,983 per gram and fell the next day to be priced at Rs.2,967 per gram.
- There was a marginal recovery noted in the price of gold the next day with this metal trading at Rs.2,973 per gram.
- However, as the demand for this metal fell, the rate of gold reduced as well.
- There were also issues regarding banks’ import of bullion due to lack of clarity on GST which in turn had an impact on the rate of gold.
- On the 16th of June, gold was priced at Rs.2,954 per gram and increased by Re.1 on the last day of the week to trade at Rs.2,955 per gram.
June 2017 - Week 4 (19 to 25)
- Fluctuations in the price of gold during the week were recorded as a result of the fluctuating U.S. Dollar as well as the unstable stock markets.
- Gold was priced at Rs.2,949 per gram on 19 June after which prices fell marginally due to a decrease in demand.
- Prices soon recovered, with gold trading at Rs.2,958 per gram on 22 June as demand from jewellers increased due to an increase in consumer demand.
- Local demand spiked due to a poor run by the stock markets and led to a rise in demand for gold, which traded at Rs.2,965 per gram on 23 June.
- As the week drew to an end, prices were more or less stable due to a near constant demand from industry as well as jewellers.
- Gold was priced at Rs.2,964 per gram on 25 June, recording an increase of Rs.15 over the course of the week.
June ’17 – Week 5 (26 to 30)
- Gold prices in Coimbatore saw marginal losses over the course of the last week of June but the increased demand by jewellers helped mitigate some of the losses.
- Gold was priced at Rs.2,977 per gram on 26 June as the U.S. Dollar opened weaker than expected, which increased demand for the yellow metal across global markets.
- Prices fell sharply the subsequent day, trading at Rs.2,957 per gram on 27 June due to a reduction in overseas demand which led to domestic trade volumes also being affected.
- A higher U.S. Dollar took some sheen off the precious metal but higher demand from retail customers as well as jewellers before the imposition of the GST regime led to prices recovering marginally.
- Gold traded at Rs.2,970 per gram on 28 June but fell as the month came to an end as international demand was poor.
- Gold ended the month trading at Rs.2,962 per gram on 30 June.
|May 1st Rate||Rs.2,984 per gram|
|May 31st Rate||Rs.2,968 per gram|
|Highest Rate in May||Rs.2,984 per gram on 1st May|
|Lowest Rate in May||Rs.2,889 per gram on 11th May|
May 2017 - Week 1 (1st-7th)
- Due to variations in the demand for gold, the rate of this precious metal kept varying throughout the first week of the month in Coimbatore.
- Gold was priced at Rs.2,984 per gram on the 1st of May and decreased marginally the next day to trade at Rs.2,952 per gram.
- Due to a fall in demand in international markets as well as a rise in the value of the U.S.Dollar, the rate of gold declined further as the week progressed.
- Gold was priced at Rs.2,947 per gram on the 3rd of May and decreased even further to trade at Rs.2,922 per gram on the 4th of May.
- On the 5th of May, gold rate reduced even further to trade at Rs.2,908 per gram.
- As the demand for this metal plunged even further, gold closed at Rs.2,899 per gram on the 7th of May.
May 2017 – Week 2 (8th -14th)
- Coimbatore gold prices rose marginally as the week began before dropping due to a decline in demand brought about by geopolitical factors as well as a steadily strengthening U.S. Dollar.
- Gold traded at Rs.2,896 per gram on 8th May as demand was relatively stable following a surge in price the previous week.
- In a departure from prevalent trends, gold rose to Rs.2,904 per gram on 9th May before prices fell due to a decline in demand as investors moved away from gold investments.
- Markets rallied and the U.S. Dollar also gained on global currencies, which led to a drop in overall demand for gold.
- The week ended with gold trading at Rs.2,891 per gram on 14th May, recording a decline in price of Rs.5 during the week.
May 2017 - Week 3 (15th - 21st)
- When trading started for the week of 15th, gold was priced at Rs.2,888 per gram, which rose over the next few days due to Brexit concerns.
- On 16th, gold rates increased to Rs.2,894 per gram before going up again to Rs.2,910 per gram.
- The 18th saw one of the biggest increase in gold rates as they reached Rs.2,958 per gram amidst news of Donald Trump’s interference in a federal investigation.
- However, after the brexit woes were dealt with, gold rates seemed to consolidate as they went to Rs.2,954 per gram on the 19th.
- For the next days, i.e., the 20th and the 21st, gold rates remained unchanged at Rs.2,954 per gram.
May 2017 – Week 4 (22nd - 28th)
- On the 22nd of May in Coimbatore, this yellow metal was priced at Rs.2,956 per gram due to relatively low demand from domestic markets.
- The price of gold rose slightly on the 23rd to Rs.2,971 per gram. It is interesting to know that, investors largely remained on the sidelines despite the Manchester blasts and hence there was no visible impact on the price of this metal.
- Gold rate reduced again to trade at Rs.2,956 per gram on the 24th of the month as a result of falling demand. This rate was noted on the 25th of the month as well.
- On the 26th of May, gold traded at Rs.2,969 per gram which was a slight increase in the rate before further rising to be priced at Rs.2,979 per gram on the 27th and 28th of May.
May ’17 – Week 5 (29th to 31st)
- The price of gold in Coimbatore was on the decline in the last week of May, continuing a trend seen in the previous week.
- Gold was priced at Rs.2,977 per gram on 29th May as demand was muted due to stable stock markets across the globe, which reduced demand for the safe-haven asset.
- Prices rose marginally to trade at Rs.2,979 per gram on 30th May as demand increased due to a minor surge in demand from industry.
- Prices fell as the month ended, with gold trading at Rs.2,968 per gram on 31st, registering a decline of 0.53% over the course of May.
|April 1st Rate||Rs.2,956 per gram|
|April 30th Rate||Rs.2,984 per gram|
|Highest Rate in April||Rs.3,035 per gram on the 22nd and 23rd of April|
|Lowest Rate in April||Rs.2,954 per gram from the 8th and 9th of April|
April 2017 - Week 1 (1st-9th)
- The rate of gold in Coimbatore was quite high during the beginning of the first week of April but steadily declined thereafter.
- Gold rate in Coimbatore was Rs.2,956 per gram on the 1st of the month and stayed stable at this rate until the 3rd of April due to steady demand from jewellers.
- Due to increased demand, the price of gold rose to Rs.2,987 per gram before decreasing the next day to trade at Rs.2,974 per gram.
- The price of gold continued to decline over the next few days due to decreased offtake of this metal. Gold traded at Rs.2,970 per gram on the 7th of April.
- Rates fell again to trade at Rs.2,954 per gram on the 8th of April and stayed steady at this rate until the end of the first week of April.
April 2017 - Week 2 (10th-16th)
- On 10th, gold was trading at Rs.2,956 per gram in Coimbatore which went up to Rs.3,001 within on 12th.
- When trading began on 13th, prices seemed to go up again as domestic and international demand rallied to bring prices up to Rs.3,018 per gram.
- Gold rate in Coimbatore went up the 14th as well as the metal was seen trading at Rs.3,028 per gram.
- When the week came to an end, gold trading prices were holding at Rs.3,040 per gram.
April 2017 - Week 3 (17th-23rd)
- A number of fluctuations were noted in the price of gold during the third week of April in Coimbatore.
- Gold was priced at Rs.3,033 per gram on the 17th of April due to slightly low demand for this metal. However, on the 18th of April, the gold rate in Coimbatore reduced even more due to a fall in the demand to trade at Rs.3,026 per gram.
- On the 19th of April, a slight increase in the value of the U.S.Dollar resulted in a fall in the price of the metal. Gold was priced at Rs.3,022 per gram and reduced even more the next day to trade at a weekly low amount of Rs.3,018 per gram.
- As the week progressed, the price of gold started to slowly recover trading at Rs.3,022 per gram on the 21st of April.
- On the last two days of the week, gold was priced at Rs.3,035 per gram due to increased and steady demand for this metal.
April 2017 - Week 4 (24th-30th)
- There were a number of fluctuations noted in the rate of gold in Coimbatore during the final week of April due to market conditions.
- Gold traded at Rs.2,998 per gram on the 24th of April due to reduced demand for this precious metal from domestic markets. This rate was also seen the next day.
- As the value of the dollar went up, the price of gold fell as well to trade at Rs.2,973 per gram on the 26th of April and reduced even further the next day to trade at Rs.2,962 per gram.
- A marginal recovery was noted in the price of gold thereafter, however there were variations noted in the rate of this metal due to geopolitical factors.
- On the last day of the month, gold was priced at Rs.2,984 per gram due to a fall in the demand for this metal.
|March 1st Rate||Rs.2,994 per gram|
|March 31st Rate||Rs.2,942 per gram|
|Highest Rate in March||Rs.2,994 per gram on 1st March|
|Lowest Rate in March||Rs.2,906 per gram on 15th March|
March 2017 - Week 1 (1st - 4th):
- In Coimbatore, gold rates saw some brief fluctuations.
- The 1st saw gold trading at Rs.2,994 per gram which then decreased to Rs.2,992 per gram.
- On 3rd, gold prices saw quite a significant drop to reach Rs.2,961 per gram - a decrease of Rs.33 per gram.
- The week ended with the yellow metal trading at Rs.2,972 per gram, thanks to an increase in demand.
March 2017 - Week 2 (5th - 11th):
- Gold rates in Coimbatore didn’t deflect much from that of its neighbouring city Chennai.
- The week began on 5th with gold priced at Rs.2,972 per gram which went down to Rs.2,971 per gram.
- On 7th, gold rates slipped up by Rs.27 to reach Rs.2944 per gram and went down again to Rs.2,931 per gram on 9th.
- Rates seemed to pick up on 10th to hit Rs.2,951 per gram but went down during the next day to trade at Rs.2,931 per gram.
- Gold prices picked up on the last day of the week for the metal to trade at Rs.2,945 per gram.
March 2017 - Week 3 (12th-18th):
- Gold traded at a high rate during the beginning of the third week of March in Coimbatore but reduced as the week progressed.
- Gold traded at Rs.2,947 per gram on 13th March and reduced to Rs.2,929 per gram on 14th March due to a fall in the demand for this precious metal.
- Rate of this precious metal continued to plummet as gold traded at Rs.2,906 per gram on 15th March in spite of global prices rising due to higher demand.
- The rate of gold recovered slightly to trade at Rs.2,931 per gram on 16th March as domestic demand recovered. A drop in the U.S. Dollar led to demand rising as gold traded at Rs.2,935 per gram on 17th March.
- Rates increased for the rest of the week, trading at Rs.2,940 per gram on 18th March.
March 2017 - Week 4 (19th-25th):
- Gold rate trends in Coimbatore remained the same as it was in neighbouring city Chennai.
- On 20th, gold was priced at Rs.2,941 per gram but went down due to slight lack of demand on 21st to Rs.2,933 per gram.
- Rates increased significantly by Rs.44 per gram on 22nd as gold prices rallied after a short decline from the previous day.
- When business began on 23rd, gold prices went down slightly to trade at Rs.2,973 per gram and went down again on 24th to Rs.2,965 per gram as the US dollar strengthened.
- Rates remained the same over the last two days of week 4 at Rs.2,964 and continued at the same rate when the week ended.
March 2017- Week 5 (26th-31st):
- In Coimbatore gold rates saw a decreasing demand as demand wasn’t as good.
- Gold was trading at Rs.2,979 per gram on 27th before going down to Rs.2,974 per gram on 28th.
- On 29th, gold rate in Coimbatore went down again to Rs.2,962 per gram as local demand didn’t pick up despite a growing trend in the international market.
- When business day ended on 30th, gold prices had gone down to Rs.2,960 per gram as demand failed to pick up.
- When the last week of March came to an end, gold was trading at Rs.2,942 per gram.
|February 1st Rate||Rs.2,957 per gram|
|February 28th Rate||Rs.3,001 per gram|
|Highest Rate in February||Rs.3,014 per gram on 25th & 26th February|
|Lowest Rate in February||Rs.2,940 per gram on 3rd February|
February 2017 - Week 1 (1st-4th):
- When the week began on 1st, gold was trading at Rs.2,957 per gram and continued at the same rate on 2nd as well.
- As global demand fell slightly amidst strengthening dollar, gold prices fell to Rs.2,940 per gram on 3rd.
- The 4th saw prices increase slightly to end the first week of February at Rs.2,944 per gram.
February 2017 - Week 2 (5th-11th)
- While demand was high at the beginning of the week, prices dropped towards the end of the week due to fluctuations in demand.
- Gold was priced at Rs.2,944 per gram on 5th February as retail demand was strong and industrial demand also rose.
- Prices rose to Rs.2,954 per gram on 6th February, an increase of Rs.10 per gram as markets appeared to be losing steam due to ambiguities over the immigration ban imposed in the United States.
- Gold continued to trade high on strong demand from investors, reaching Rs.2,989 per gram on 8th February.
- Prices dipped as the week ended, with gold trading at Rs.2,946 per gram on 10th February, the price falling by Rs.43 per gram.
- Gold ended the week trading at Rs.2,964 per gram on 11th February, an overall increase of Rs.20 per gram.
February 2017 - Week 3 (12th-18th)
- Demand for gold was steady during the week, with gold trading at Rs.2,964 per gram on 12th February.
- Gold prices fell to Rs.2,959 per gram on 13th February as demand from the industrial sector dropped and the U.S. Dollar rose, reducing demand.
- Prices dropped to Rs.2,953 per gram on 14th February as retail demand was also muted domestically, in spite of demand rising overseas.
- Gold fell to a weekly low of Rs.2,947 per gram on 15th February before rising to Rs.2,980 per gram on 16th February.
- Prices continued to rise as the week ended, with gold trading at Rs.2,990 per gram on 17th February.
- Prices dropped to Rs.2,980 per gram on 18th February, registering a rise on price of Rs.16 per gram.
February 2017 - Weeks 4 & 5 (19th-28th)
- Gold prices were more or less steady in Coimbatore during the week, trading at Rs.2,980 per gram on 19th February.
- Prices dipped due to a drop in industrial demand, trading at Rs.2,976 per gram on 20th & 21st February.
- Gold fell further to Rs.2,967 per gram on 21st February before recovering to trade at Rs.2,977 per gram on 22nd February.
- Prices rose to Rs.3,000 per gram on 24th February as U.S. markets dropped sharply and currencies also fell.
- Prices reached a monthly high of Rs.3,014 per gram on 25th & 26th February.
- Prices fell as the month ended, trading at Rs.3,001 per gram on 28th February to record a weekly increase of Rs.21 per gram and a monthly increase of 1.48%.
|January 1st Rate||Rs.2,821 per gram|
|January 31st Rate||Rs.2,957 per gram|
|Highest Rate in January||Rs.2,974 per gram on 24th January|
|Lowest Rate in January||Rs.2,821 per gram on 1st & 2nd January|
January 2017 - Week 1 (1st to 7th)
- Courtesy of the new year, gold prices were on a high for much of the week.
- On the first day of the week and year, gold traded at Rs.2,821 per gram.
- Over the 2nd and 3rd, gold prices remained the same, which increased by Rs.7 to trade at Rs.2,828 per gram.
- When the business day began on the 4th, gold prices had increased considerably by Rs.29 to trade at Rs.2,857 per gram.
- The next day on the 5th saw prices again increase to trade at Rs.2,869 per gram.
- At the end of the week on the 7th, gold rates increased further more to trade at Rs.2,872 per gram.
January 2017 - Week 2 (8th to 15th)
- Demand for gold was high as markets were unstable and consumer sentiment was positive.
- Gold traded at Rs.2,872 per gram on 8th January, the price remaining unchanged from the previous week.
- Prices rose marginally to trade at Rs.2,878 per gram on 9th January as demand increased gradually.
- Gold prices increased by Rs.17 per gram to trade at Rs.2,895 per gram on 10th January as the U.S. Dollar fell slightly over concerns of a shaky start to the Trump presidency.
- Trading in gold continued to see a rise as the metal was valued at Rs.2,914 per gram on 11th January, an increase of Rs.19 per gram.
- Prices kept rising marginally as the week progressed, with gold trading at Rs.2,935 per gram on 12th January as domestic demand rose significantly.
- The week ended with gold trading at Rs.2,941 per gram on 15th January, marking an increase in price of Rs.69 for the week.
January 2017 - Week 3 (15th to 21st):
- There were quite a few fluctuations to be witnessed in Coimbatore during the third week of January.
- On 15th, gold was seen trading at Rs.2,941 per gram, which increased to Rs.2,955 per gram on 16th.
- The 17th saw prices increase yet again to end the business day at Rs.2,971 per gram.
- Business slowed down on 18th as prices increased by just Rs.2 to hit Rs.2,971 per gram.
- On 19th, prices fell significantly by Rs.20 which led to gold trading at Rs.2,951 per gram before continuing at the same rate on the 20th.
- The last day of the week saw gold prices get back up slightly for the metal to trade at Rs.2,962 per gram.
January 2017- Weeks 4 & 5 (22nd to 31st)
- Gold prices in Coimbatore followed the trend across the country, registering an increase in price as the week began but falling towards the end of the week.
- Gold traded at Rs.2,962 per gram on 22nd January, with prices rising to Rs.2,974 per gram on 24th January due to higher demand from overseas markets.
- Prices fell to Rs.2,951 per gram on 25th January as demand from Asia fell as gold purchases fell before Lunar New Year.
- Domestic demand also declined, resulting in gold trading at Rs.2,911 per gram on 27th January.
- Prices recovered to close at Rs.2,957 per gram on 31st January.
|December 1st Rate||Rs.2,890 per gram|
|December 31st Rate||Rs.2,821 per gram|
|Highest Rate in December||Rs.2,892 per gram on 1st and 2nd December|
|Lowest Rate in December||Rs.2,767 per gram on 22nd December|
December 2016 - Week 1 (1st to 4th)
- Compared to the last week of November, gold prices fell by a huge margin during the 1st of December as it was traded at Rs.2,890 as compared to Rs.2,938.
- As the aftereffects of the Rs.500 and Rs.1,000 ban still lingered, demand for gold purchases remained dormant.
- There was only a slight change on the 2nd of December where in gold traded at Rs.2,892.
- Gold traded at Rs.2,890 again at the end of the week on the 4th of December till the time of closing.
December 2016 - Week 2 (5th-11th)
- Coimbatore was also victim to plenty of fluctuations throughout the second week of December.
- On December 5th, gold traded at Rs.2,869 per gram and continued to do the same on December 6th.
- On December 7th, gold prices increased slightly as they began to trade at Rs.2,972 per gram.
- December 8th, though, wasn’t the same as it saw a considerable decrease in trading as prices hit Rs.2,963 per gram.
- The subsequent day on December 9th again saw a decrease in gold prices as they went down by Rs.12 to trade at Rs.2,951 per gram.
- December 10th and 11th saw the biggest fall as gold began trading at Rs.2,936 per gram, and remained the same till the closing hours of the week.
December 2016 - Week 3 (12th to 18th)
- At the beginning of the week on the 12th, gold traded at Rs.2,836 per gram.
- Prices stabilised till the 14th as the yellow metal was still trading at Rs.2,836 per gram.
- On the 15th, prices saw a stark decrease as gold began to trade at Rs.2,800 per gram.
- Prices again fell on the 16th as gold traded at Rs.2,785 per gram.
- Demand for gold slightly increased as prices hit Rs.2,781 per gram on the 17th and remained the same at the end of the week on the 18th.
December 2016 - Week 4 (19th to 25th)
- As was the case with the rest of the country, gold prices didn’t witness any major changes in Coimbatore too.
- The week began with gold trading at Rs.2,790 per gram and slid down by R.2,780 per gram the next day.
- On the 21st, prices increased slightly as the metal traded at Ts.2,782 per gram.
- The 22nd however, saw prices decrease by over Rs.15 as it sold at Rs.2,767 per gram.
- The fourth week of December ended with gold trading at Rs.2,773 per gram.
December 2016 - Week 5 (26th to 31st)
- The price of gold in Coimbatore saw slow increases due to the shortage of liquidity in the market as a result of the policy of demonetisation.
- Gold was priced at Rs.2,771 per gram on 26th December, with the price rising to Rs.2,804 per gram on 28th and 29th December.
- Market uncertainty contributed to a rise in price, with gold trading at Rs.2,814 per gram on 29th December.
- As the deadline for surrendering old demonetised currency neared, demand for gold rose, trading at Rs.2,830 per gram on 30th December.
- The price of gold fell slightly to trade at Rs.2,821 per gram on 31st December.
|1st November rate||Rs.3,075 per gram|
|30th November rate||Rs.2,942 per gram|
|Highest rate in November||Rs.3,166 per gram on 9th November|
|Lowest rate in November||Rs.2,932 per gram on 25th November|
November '16 - Week 1 (1st to 6th)
- Gold traded at Rs.3,075 per gram on 1st November.
- Prices started to climb as demand in the domestic market was high.
- On 3rd November, gold prices fell on account of uncertainty of the U.S. elections and the possibility of a Fed rate hike in December.
- Gold prices started to increase again as wedding season demand gained momentum.
- By November 5th and 6th, gold was trading at Rs.3,119 per gram, the highest for this week.
November '16 - Week 2 (7th to 13th)
- Gold traded at Rs.3,083 per gram on 7th November and prices started to climb.
- Demand for gold surged on 8th November night as people rushed to buy gold after Prime Minister Modi announced that Rs.500 and Rs.1,000 notes would not be legal tender from midnight.
- Gold rates jumped to Rs.3,166 per gram on 9th November, the highest for this week.
- The global market was affected by the U.S. elections and the prospects of a Fed rate hike in December.
- The domestic market was affected by the surgical strike on black money and the requirement of PAN card to purchase gold in cash.
- Gold prices dropped to Rs.3,059 per gram by the end of the week.
November '16 - Week 3 (14th to 20th)
- Gold traded at Rs.3,054 per gram on 14th November.
- Gold price were sliding down this week as the Indian economy experienced a shortage of cash after PM Modi announced his demonetisation scheme.
- Gold fell to its lowest price this week on 18th November, trading at Rs.2,976 per gram.
- Prices started to stabilise towards the end of the week as the wedding season kept demand up.
- In the overseas markets, gold prices edged higher against a retreating dollar.
November '16 - Week 4 and 5 (21st to 30th)
- The dollar climbed this week on account of positive economic data which raised the confidence levels of the U.S. Federal Reserve to increase the interest rate next month.
- In the domestic market, demand for gold plunged as the demonetisation scheme played out resulting in a serious cash crisis in the Indian economy.
- At the peak of the wedding season in India, jewellers and retailers have found their stores empty.
- Gold traded at Rs.2,984 per gram on 21st November.
- By the end of the month, prices had dipped to Rs.2,942 per gram.
- The trend for this month was a decrease in gold prices by 4.33%.
|1st October rate||Rs.3,152 per gram|
|31st October rate||Rs.3,065 per gram|
|Highest rate in October||Rs.3,152 per gram on 1st and 2nd October|
|Lowest rate in October||Rs.3,018 per gram on 17th October|
October '16 - Week 1 (1st to 7th)
- Gold traded at Rs.3,152 per gram on 1st October.
- The trend for this week was a decline in prices as the global market turned bearish on account of rising expectations of a Fed rate hike.
- Gold traded at Rs.3,027 per gram on 7th October as demand in the domestic market also fell.
- A gloomy global market and stricter Indian tax laws led to a drastic fall in gold rates.
October '16 - Week 2 (8th to 14th)
- Gold prices rose this week on account of positive trends overseas coupled with an increase in domestic demand.
- On 8th October, gold traded at Rs.3,020 per gram
- Gold rates climbed to Rs.3,030 per gram on 10th October and stayed constant till 13th October.
- Prices dropped to Rs.3,025 per gram as global political and financial risks led to a weak trend in the overseas market.
- Demand in the domestic market also dropped as jewellers and retailers reduced their offtake.
October '16 - Week 3 (15th to 21st)
- Gold prices climbed this week on account of the wedding season giving demand a boost.
- Gold traded at Rs.3,021 per gram on 15th October.
- Prices of the yellow metal dropped on 17th October to Rs.3,018 per gram as expectations of the Fed rate hike grew strong.
- Gold was able to recover as demand for the metal surged in the domestic market.
- As trends overseas firmed up, gold climbed to Rs.3,049 per gram on 20th October, the highest for this week.
October '16 - Week 4 (22nd to 28th) & Week 5 (29th to 31st)
- Gold traded at Rs.3,046 per gram on 22nd and 23rd October.
- The global market turned positive for gold as the dollar weakened.
- Festive demand kept gold rates up in the domestic market.
- Speculations of the Fed rate hike indicated that it would be introduced gradually.
- The highest price for this week fell on 29th and 30th October when gold traded at Rs.3,067 per gram.
- High demand is expected to continue as the wedding season draws near.
- The week closed with gold trading at Rs.3,065 per gram.
Gold has been considered a safe investment as it negate any rise in inflation. One can choose to invest in any of the following gold options in Coimbatore.
Jewelry – The love for jewelry among Indians is well known and jewelry constitutes the major portion of gold investments in Coimbatore. Jewelry can be sold or exchanged for good rates, making it an investment for all seasons.
Gold Bullion Bars – Gold bullion bars are an ideal investment option for those who can afford them. These bars can weigh up to 1 kg each and are highly desired across the world. With 99.5% purity these bars can be perfect for those who wish to invest in a commodity which has no risk.
Gold Bullion Coins – Gold coins are today considered the safest and smartest investment in gold. People in Coimbatore prefer buying gold coins rather than jewelry as there is no wastage or making charge involved with gold coins. They are easy to liquidate and can offer instant money when the need arises.
Gold Accumulation Plan – This new investment method revolves around people depositing small amounts of money into an account on a monthly basis. After a specified period the investor can choose from gold bars/coins or jewelry, as per the needs.
Allocated Gold Accounts – This plan is perfect for those who wish to own gold but do not want to keep it with them. Investing in gold account ensures that banks keep the gold safe and secure and the owner can access the gold when need be.
24 karat gold – The current rate of 1 gram of 24 karat gold in Coimbatore is Rs 2715 (as of June 15, 2015). The rate has remained constant over the last few months, averaging at around Rs 2700 per gram.
22 karat gold – The cost of 1 gram 22 karat gold is approximately Rs 2540 as of June 15, 2015. The cost of 22 karat gold has hovered around the Rs 2550 mark, indicating a stability in costs, making it an opportune time to invest in gold.
Coimbatore is home to most of the well-established gold dealers and jewellers, some of the major ones being Malabar Gold, Kalyan Jewellers, Josco Jewellers, Karpagam Jewellers and Joyalukkas. Residents can also find smaller gold dealers across the city, with each one catering to specific needs.
- Also Check:Gold Rate in Tamil Nadu
Also Check Gold Price in NearBy Cities of Coimbatore
|Also Know: Silver Rate in Coimbatore|
Read more on Gold
- Buying Gold This Akshaya Tritiya
- Which One Should You Buy, Gold Coins Or Gold Bars
- How Gold Price Is valuated In India
- How Do Fluctuations In The Gold Rate Affect The Indian Economy
- Important Points To Remember Before Buying Gold Jewellery
- Reasons Why Jewellery Is Significant In Indian culture
Gold Rate - Sitemap
News About Gold Rate in Coimbatore
Gold touches two week high as dollar falls
Price of gold scaled a 2-week peak as the dollar fell to a six-week low post G20 weekend summit that was dominated by the U.S. administration’s protectionist stance on trade globally. The rate of gold has been increasing since last week when the value of the dollar fell as the U.S. Federal Reserve raised rate of interest but did not predict a sharper acceleration in monetary tightening over the upcoming two years.
Gold is dependent on falling rates of interest which reduces the opportunity cost of holding non-yielding bullion.
20th March, 2017