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According to latest reports, Gold rates are set for recovery in 2016. Various national and international economic and political developments such as boost in safe-haven buying, oil prices, quantitative easing, currency fluctuations, inflation, investment inflow, inflation, growth of Indian economy, current account deficit and import duties among many others determine the price of Gold. It is important to note that gold rates differ from one city to another owing to local taxes, transportation costs, procurement costs and making charges among others.
Dindigul is one of the major commercial hubs in the state of Tamil Nadu. Dindigul is known for its muslins, silks, blankets and horticulture among others. The precious yellow metal is held in high regard in Dindigul as a conventional form of investment. The precious metal is also viewed as a safe haven against inflation in Dindigul. Many residents in Dindigul buy Gold as a form of security for periods of any financial instability as the precious metal can be used as a collateral for loans.
Gold Rate Trend in Dindigul 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 trend in Dindigul for October 2018
- For the month of October, the price of gold in Dindigul opened at Rs.3,071 per gram and increased steadily through the month due to the weakening of the dollar against other currencies.
- By the middle of the month, gold prices had increased to Rs.3,211 per gram marking the highest price in October. This was mainly due to the US-China trade war which resulted in a volatile market, leading to an increase in global demand for gold.
- However, in the second half of the month, the price of gold decreased marginally due to fluctuations in the local demand and the market.
- The price of the metal closed the month at Rs.3,188 per gram with a percentage incline of 3.80.
Gold trend in Dindigul for November 2018
- The price of gold took a hit in November as the dollar recovered from the market crisis, resulting in the weakening of the rupee.
- On 1 November 2018, gold was priced at Rs.3,184 per gram and steadily increased to Rs.3,196 per gram in the first week of the month. This marked the highest price of the metal in November.
- Throughout the rest of the month, gold prices decreased as the value of the rupee fell against the dollar, resulting in a dip in global and local demand.
- Gold was priced at Rs.3,045 per gram at the end of the month which resulted in a percentage decline of the metal by 4.36.
Gold trend in Dindigul for December 2018
- Gold prices recovered to a great extent in the month of December, even after opening the month at a low price of Rs.3,045 per gram.
- Due to the crisis in the United States of America, the markets fell gradually. This resulted in the price of the metal reaching a high of Rs.3,192 per gram by the middle of the month.
- In the second half of the month, the price of gold fluctuated to a great extent due to the continuous rise and fall of global demand and market trends.
- However, on 31 December 2018, gold prices closed at Rs.3,165 per gram marking a record incline of 3.94%.
Gold Rate Trend in Dindigul 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.3,090 per gram on 25 and 26 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 Dindigul for July 2018
- Declining demand from investors caused the price of gold in Dindigul to dip at the beginning of July.
- The metal was priced at Rs.3,059 per gram at the start of the month, while domestic demand from industries and coin makers plummeted. During this time, the value of rupee declined too, playing a part in the drop in value.
- Gold price peaked for the month on 6 July, trading at Rs.3,071 per gram. Demand for the metal locally was on the rise, but the value of the dollar recovered which dented demand for the metal in the following days.
- Gold then declined steadily and fell to its lowest price point at the end of the month as it was trading at Rs.2,986 per gram.
Gold rate trend in Dindigul for August 2018
- The yellow metal commenced trading at Rs.2,983 per gram at the start of August 2018.
- Demand for the metal was unstable for the remainder of the month causing gold rates to fluctuate. On 16 August, the metal was trading at Rs.2,940 per gram.
- Demand for gold increased towards the end of the month leading to the price surging to its highest point at the end of the month.
- On 31 August, the precious metal was priced at Rs.3,036 per gram.
- The trend of gold for the month recorded an incline of 1.77%.
Trend of Gold Rate in Dindigul for April 2018 to May 2018 (rates per gram of 24 karat gold)
Rs.3,072 per gram
Rs.3,114 per gram
Rs.3,100 per gram
Rs.3,123 per gram
Rs.3,122 per gram
Rs.3,059 per gram
Rs.3,153 per gram on 19 April
Rs.3,213 per gram on 15 May
Rs.3,127 per gram on 15 June
Rs.3,064 per gram on 6 April
Rs.3,103 per gram on 3 May
Rs.3,054 per gram on 24 June
Overall Monthly Performance
Gold Rate Trend in Dindigul for April 2018:
- Trading began for the second quarter with gold rate in Dindigul holding at Rs.3,072 per gram on the 1st amid firm overseas trends.
- Prices dropped to their lowest at Rs.3,064 per gram on the 6th with local demand capped by the strong US employment data, that supported the US dollar index.
- However, with demand picking up amid positive global cues, prices recovered over the next couple of weeks.
- Gold was recorded trading at its highest level at Rs.3,153 per gram on the 19th with strong investor demand brought about by the weakened US greenback and poorly performing equity markets.
- The month came to an end with the yellow metal priced at Rs.3,123 per gram on the 30th with Dindigul recording an increase of 1.66% in bullion trade during the month.
Gold Rate Trend in Dindigul for May 2018:
- The second month of Q2 2018 opened with gold trading at Rs.3,114 per gram on the 1st with local demand on the decline amid the recovering USD and rising equity markets.
- Poor global cues coupled with strong dollar performances led to gold price in Dindigul plummeting to Rs.3,103 per gram - the lowest recorded monthly figure - on the 3rd.
- However, with the US greenback losing significant ground against other apex currencies, demand for the safe-haven surged over the next couple of weeks.
- On the 15th, the bullion was recorded trading at its highest level at Rs.3,213 per gram with strong demand from industries and jewellers amid the strong trend overseas.
- Trading concluded for the month with the precious metal priced at Rs.3,122 per gram on the 31st, registering a 0.25% rise in gold rates during the month.
Gold Rate Trend in Dindigul for June 2018:
- The final month of the quarter began with gold rate in Dindigul holding at Rs.3,100 per gram on the 1st amid firm global cues.
- Strong domestic demand coupled with positive market trends led to gold prices surging to a monthly high of Rs.3,127 per gram on the 15th.
- However, demand flatlined over the next week with investor interest capped by the recovering US dollar and equity markets. This led to rates dropping to Rs.3,054 per gram on the 24th amid the poor trend overseas.
- Trading closed for the month with gold price in Dindigul finishing at Rs.3,059 per gram on 30th with subdued but steady demand from local jewellers and retailers amid weak global cues.
Gold Rate Trend in Dindigul for January 2018 to March 2018 (per gram of 24 karat gold)
Rs.3,002 per gram
Rs.3,040 per gram
Rs.3,043 per gram
Rs.3,045 per gram
Rs.3,046 per gram
Rs.3,072 per gram
Rs.3,084 per gram on 20 & 21 January
Rs.3,103 per gram on 14 February
Rs.3,105 per gram on 24 & 25 March
Rs.3,001 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 Dindigul for January 2018:
- Gold was priced at Rs.3,002 per gram in Dindigul when the month of January began.
- Demand was weak during the first week, which caused gold rates to go down to Rs.3,001 per gram - the month’s lowest rate owing to poor sales.
- Over second and third week, gold rates improved quite a bit, leading the metal’s sales to improve gradually.
- The 21st and 22nd saw gold rates rise to Rs.3,084 per gram - the month’s highest figures - as demand was on the higher side as the US dollar seemed to fall.
- There was very little demand for the remainder of the month, which led to gold prices consolidating as days passed.
- On the final day of this month, gold was priced at Rs.3,045 per gram, and a 1.43% change in price trend was recorded this month.
Gold Rate Trend in Dindigul for February 2018:
- When February’s gold trading began, gold was priced at Rs.3,040 per gram. This month’s trading didn’t record as much a change in prices.
- There were signs of weak demand when the month started, and the gold rates were indicative of this trend.
- On the 8th, gold was priced at Rs.3,003 per gram - the month’s lowest rates as demand for the metal was rather poor.
- The onset of the wedding season, however, pushed gold rates up towards the end of the second week.
- On Valentine’s day, gold rates in Dindigul hit a monthly high rate - of Rs.3,103 per gram - a startling Rs.100 rise in less than a week.
- Local demand subsided and as the US dollar was holding steady, gold rates continued to drop over the next few days of the month.
- The month ended with gold trading at Rs.3,043 per gram. A 0.19% change in prices were recorded this month, thanks as demand declined towards the final few days.
Gold Rate Trend in Dindigul for March 2018:
- March’s trading started with gold opening at Rs.3,043 per gram. Demand this month was much better compared to the previous month and a slightly better change was recorded.
- Gold prices were largely steady for the first three weeks as demand was steady. But, as demand took a hit, gold rates dropped to Rs.3,030 per gram on the 19th.
- The subsequent week saw gold demand rise, which in turn caused prices to surge. Over the 24th and the 25th, gold traded at Rs.3,105 per gram - the month’s highest rates, as demand improved ahead of a weak US dollar.
- Rates dropped down and stabilised during the last few days, and the metal traded at Rs.3,072 per gram on the final day of the quarter.
- Price trends in Dindigul recorded a 0.95% change this month, thanks to slightly improved demand seen during the penultimate week
Gold Rate Trend in Dindigul 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.2,997 per gram||Rs.2,988 per gram||Rs.3,015 per gram|
|Highest price||Rs.3,059 per gram on 14 and 15 October||Rs.3,031 per gram on 18, 19 November||Rs.3,015 per gram on 30, 31 December|
|Lowest price||Rs.2,997 per gram on 12 October 27, 30 and 31 October October||Rs.2,974 per gram on 6 November||Rs.2,903 per gram on 13 December|
Gold rate trend in Dindigul for October 2017:
- The month began with the precious metal trading at Rs.3,040 per gram on the 1st of October.
- Gold rate in Dindigul dropped to Rs.2,997 per gram on the 6th after the US dollar gained against other apex currencies amid possibilities of an interest rate hike by the US Federal Reserve during the quarter.
- The government’s decision to make KYC norms mandatory received positive buyer sentiments in the domestic trade. A strong increase in local demand from jewellers, retailers and industries led to gold being priced at Rs.3,042 per gram on the 12th.
- Strong domestic demand coupled with firm trends overseas led to gold price in Dindigul surging to Rs.3,059 per gram on the 14th. This was also the highest recorded monthly figure in Dindigul.
- The US dollar, however, regained lost ground amid firmer equities over the next few days. This led to the yellow metal prices plunging to Rs.3,026 per gram on the 20th.
- A strengthening US dollar compounded by the well-performing equity markets led to gold rates dropping further to Rs.3,000 per gram on the 26th.
- When trading concluded for the month, the bullion was recorded trading at Rs.2,997 per gram on the 31st ahead of major central banks’ monetary policy meetings.
- Dindigul recorded a decline of 1.41% in gold trade during the course of the month.
Gold rate trend in Dindigul for November 2017:
- Trading commenced for the month with the bullion priced at Rs.2,998 per gram on the 1st of November.
- A decline in domestic demand brought about by the strengthening US dollar over the next few days led to gold rate in Dindigul plunging to Rs.2,977 per gram on the 4th.
- Poor global trends coupled with reduced local demand led to gold prices in Dindigul hitting their lowest recorded monthly figure of Rs.2,974 per gram on the 6th.
- However, with diplomatic relations deteriorating between the US and North Korea, demand for safe-haven assets such as gold spiked worldwide. This resulted in gold rate in Dindigul rebounding to Rs.3,015 per gram on the 12th.
- The bullion prices surged further to Rs.3,031 per gram - the highest recorded monthly figure -on the 18th with the US dollar losing against a basket of other emerging currencies in the global market.
- The dollar, however, regained lost ground from the previous weeks’ losses towards the end of the month and the precious metal was priced at Rs.3,012 per gram on the 24th.
- The Republican US tax reform plan proposed by President Trump to overhaul the country’s present tax system received positive sentiments from the people. This led to the US dollar gaining against other emerging currencies.
- The month came to an end with the yellow metal trading at Rs.2,992 per gram on the 30th and Dindigul registered a profit of 0.13% in bullion trade during the course of the month.
Gold rate trend in Dindigul for December 2017:
- The final month of the quarter began with the yellow metal priced at Rs.2,982 per gram with a slight decline in domestic demand from the previous month.
- The approval of the biggest tax system overhaul bill by the US Senate in thirty years resulted in the US dollar gaining significantly against other apex currencies. Demand for the metal declined against the high US dollar index and gold rates in Dindigul were holding at Rs.2,917 per gram on the 8th.
- On the 13th, gold rates in Dindigul hit their lowest figure for the month at Rs.2,903 per gram due to poor global trends that pushed demand lower for the bullion.
- However, the US dollar lost its sheen after the Federal Reserve decided to raise its benchmark interest rates. This resulted in gold rates recovering to Rs.2,956 per gram on the 23rd with an increase in global demand.
- Gold price in Dindigul surged further to Rs.2,985 per gram on the 28th with investors and stockists mulled over the ultimate outcome of the US tax bill on the country’s economic growth.
- The month concluded with the bullion trading at Rs.3,015 per gram on the 31st amid the positive trend overseas. Dindigul recorded an incline of 1.10% in gold prices during the month of December.
Gold Rate Trend in Dindigul for July 2017 to September 2017 (per gram of 24 karat gold)
|1st day||Rs.2,950 per gram||Rs.2,926 per gram||Rs.2,995 per gram|
|Last day||Rs.2,925 per gram||Rs.2,971 per gram||Rs.3,040 per gram|
|Highest price||Rs.2,950 per gram on 1 & 2 July||Rs.2,999 per gram on 29 August||Rs.3,102 per gram on 8 September|
|Lowest price||Rs.2,796 per gram on 11 July||Rs.2,900 per gram on 5 and 6 August||Rs.2,995 per gram on 1 September|
Gold Rate Trend in Dindigul for July 2017:
- Gold trading in July opened at Rs.2,950 per gram for 24 karat gold.
- But, prices remained on the weaker side despite the escalation between the US and North Korea ruled the market.
- Local demand seemed to worsen rather than improve despite international demand remaining on the higher side.
- Gold prices in Dindigul had gone as low as Rs.2,875 per gram by the end of the 9th and hit the month’s lowest rate of Rs.2,796 per gram on the 12th of July.
- The implementation of GST rules led to demand remaining sluggish for much of the month. Rates, however, picked up slightly to reach Rs.2,869 per gram by the 20th of the month.
- Over the final 10-odd days of the month, gold rates picked up slightly due to an increase in demand to end at Rs.2,925 per gram.
- Despite a late flourish, gold rates in Dindigul fell by 0.84% for this month.
Gold Rate Trend in Dindigul for August 2017:
- Gold performed significantly better as the effects of GST slowly wore off and as markets returned to normalcy.
- When the month began, gold rates in Dindigul were holding at Rs.2,926 per gram.
- Due to demand being sluggish, gold rates in Dindigul went down to Rs.2,899 per gram on the 5th of August.
- However, rates recovered from then on as local demand picked up after it received positive reinforcements from the international market.
- The metal traded mostly at Rs.2,977 per gram for much of the second week but crashed after the greenback showed consistent improvements.
- Domestic demand overpowered dollar value and gold rates reached a high of Rs.2,999 per gram on the 29th of August.
- On the final day of this month, gold was trading at Rs.2,971 per gram.
- Overall, there was a 1.76% increase in gold rates in Dindigul this month, as the bullion industry recovering from post-GST stupor.
Gold Rate Trend in Dindigul for September 2017:
- In September, gold prices gained to provide continuity to the trend set in August.
- North Korea’s most biggest underground nuclear test was the highlight of this month, which consequently caused major US trade exchanges to hemorrhage money.
- On the 1st of September, gold was priced at Rs.2,992 per gram. Rates increased over the subsequent days and hit a monthly high rate of Rs.3,102 per gram on the 8th of the month.
- This increase was due to the escalation of the conflict between North Korea and the United States.
- The greenback, however, made a comeback over the second half of the month and regained some of its lost ground.
- Gold demand remained stable more or less over the final stretch of the month and the metal traded at Rs.3,040 per gram on the final day of the month.
- Price trends saw an increase of 1.50% this month, thanks to festive demand and positive cues brought about by a weak US economy.
Gold Rate Trend in Dindigul 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 April and 16 April||Rs.2,971 per gram on 23 May||Rs.3,012 per gram on 8 June|
|Lowest price||Rs.2,954 per gram on 8 April and 9 April||Rs.2,888 per gram on 15 May||Rs.2,942 per gram on 20 June|
Gold rate trend in Dindigul for April 2017
- Gold prices in Dindigul fluctuated as April began due to mixed cues from the markets, opening the month at Rs.2,956 per gram and reaching Rs.2,987 per gram on 4 April before dropping to Rs.2,954 per gram on 8 April.
- Demand from industry was low due to an ascendant U.S. dollar, which led to prices falling slightly in spite of markets being volatile.
- Influenced by global trends, there was a decrease in local demand which contributed to the low prices towards the middle of the month.
- Prices began to rise as the U.S. dollar rate fell due to continued political turmoil surrounding the investigation into alleged Russian interference in the U.S. presidential election, resulting in gold trading at Rs.3,040 per gram on 15 & 16 April.
- Demand for gold began to wane as the month progressed as markets recovered ahead of the French presidential elections, falling to Rs.2,998 per gram on 24 April.
- The month ended with gold trading at Rs.2,984 per gram on 30 April to record a 0.94% rise in price over the month.
Gold rate trend in Dindigul for May 2017
- Gold traded at Rs.2,984 per gram on 1 May before dropping to Rs.2,899 per gram on 7 May due to declining demand from Europe following the victory of Emmanuel Macron in the French presidential election.
- Local demand was on the rise and helped stabilise prices though the precious metal continued to trade below expectation, with the price averaging at Rs.2,889 per gram.
- Demand began to rise as higher demand from jewellers pushed prices to Rs.2,954 per gram on 19 May and Asian markets also increased orders.
- A dip in U.S. dollar rates due to poor jobs data led to increased demand for bullion from investors as the yellow metal rose to trade at Rs.2,971 per gram on 23 May.
- Prices were more or less steady for the rest of the month, trading at Rs.2,979 per gram on 27 May before ending the month at Rs.2,968 per gram on 31 May.
- Relatively muted demand for gold during the month led to a fall in its overall value by 0.53%.
Gold rate trend in Dindigul for June 2017
- Steady demand led to gold trading at Rs.2,977 per gram on 1 June amidst a weakening of the U.S. dollar due to increased speculation over Russian collusion in the U.S. election.
- Market volatility due to the possibility of a repeal of the American health care system led to investors rushing to gold, which pushed prices to Rs.3,025 per gram on 5 June.
- Positive outcomes from the G20 summit led to markets recovering marginally, which led to a drop in demand for gold as price dipped to Rs.2,983 per gram on 14 June.
- Local demand was muted as currency markets were high, leading to reduced overseas demand as gold traded at Rs.2,949 per gram on 19 June.
- The impending implementation of GST led to increased demand from retail as well as industrial consumers, which led to a slight rise in the price of gold to Rs.2,965 per gram on 23 June.
- Prices fluctuated towards the end of June, with gold trading at Rs.2,962 per gram on 30 June.
Gold Rate Trend in Dindigul for January 2017 to March 2017 (per gram of 24 karat gold)
|1st day||Rs.2,821 per gram||Rs.2,957 per gram||Rs.2,990 per gram|
|Last day||Rs.2,942 per gram||Rs.3,001 per gram||Rs.2,942 per gram|
|Highest price||Rs.2,974 per gram on 24th January||Rs.3,014 per gram on 25th and 26th February||Rs.2,994 per gram on March 4thand 5th|
|Lowest price||Rs.2,821 per gram on 1st January||Rs.2,940 per gram on 3rd February||Rs.2,900 per gram on March 15th|
Gold Rate Trend for Dindigul in January 2017:
- Gold opened the trading for the month of January at Rs.2,821 per gram on January 1st.
- A healthy demand for Gold globally saw the price of Gold rise to Rs.2,858 per gram on January 5th.
- Gold closed the first week of trading at Rs.2,872 per gram on January 8th.
- Uncertainty pertaining to the US monetary policy allowed Gold to climb to Rs.2,895 on the 9th of January.
- A healthy demand for the precious metal allowed Gold to continue its rise to Rs.2,914 per gram on January 11th.
- A weak US Dollar and healthy global demand for the metal saw Gold close the week’s trading at Rs.2,941 per gram on January 15th.
- Healthy global demand saw Gold open the third week pf trading at Rs.2,955 per gram on January 16th.
- Sustained demand and a weakening US Dollar saw Gold rise to Rs.2,971 per gram on January 18th.
- Technical buying saw Gold prices slip to Rs.2,951 per gram on January 19th and January 20th.
- Prevailing prices saw a marginal increase in the demand for Gold, allowing it to climb to Rs.2,962 per gram to close the third week of trading on January 22nd.
- A healthy demand in the domestic market for Gold saw it open the fourth week of trading at Rs.2,970 per gram on January 23rd.
- Technical corrections caused Gold to slip to Rs.2,911 per gram on January 27th.
- A strong trend globally and a weakened US Dollar saw Gold prices rise to Rs.2,937 per gram on January 30th.
- Sustained demand for Gold saw it close the month’s trading at Rs.2,942 per gram on January 31st.
Gold Rate Trend for Dindigul in February 2017:
- A healthy demand for Gold globally saw it open trading for the month of February at Rs.2,957 per gram on February 1st which was sustained till February 2nd.
- Gold hit a monthly low of Rs.2,940 per gram on February 3rd.
- Technical buying saw Gold prices marginally rise to Rs.2,944 per gram on February 4th, which was sustained till February 5th to close the week’s trading.
- Sustained technical buying from retailers, jewellers and investors saw Gold open the second week of trading at Rs.2,954 per gram on February 6th.
- Uncertainty pertaining to the US monetary policy saw Gold climb to a week high of Rs.2,989 per gram on February 8th.
- Expected US Federal Interest Rate hikes saw Gold slip to Rs.2,946 per gram on February 10th.
- Prevailing prices saw an increase in demand, allowing Gold to recover to Rs.2,964 per gram on February 11th, this price was sustained till the end of the week’s trade on February 12th.
- Technical selling saw Gold prices drop to Rs.2,959 per gram to open the third week of trading on February 13th.
- A drop in domestic demand saw Gold prices slip to its week’s lowest price of Rs.2,947 per gram on February 15th.
- Negative US economic data saw Gold prices rise to Rs.2,990 per gram on February 17th.
- A drop in domestic demand saw Gold slip to Rs.2,980 per gram on February 18th, this was sustained till the end of the week on February 19th.
- Technical buying saw Gold open the fourth week of trading at Rs.2,976 per gram on February 20th.
- Gold hit a monthly high of Rs.3,014 on February 25th and 26th amid uncertainty pertaining to the US monetary policy.
- Technical trading stabilized Gold at Rs.3,001 per gram on February 27th, this was held till February 28th to close the month’s trading.
Gold Rate Trend for Dindigul in March 2017:
- Gold opened trading for the month of March at Rs.2,994 per gram on March 1st.
- Expectations of a US Federal Interest Rate hike in March saw Gold slip to Rs.2,961 per gram on March 3rd.
- A weak demand domestically saw Gold prices slip to Rs.2,931 per gram on March 10th.
- A stronger US Dollar and a weak global demand saw domestic prices of Gold fall to Rs.2,929 per gram on March 14th.
- A marginally weakened US Dollar saw Gold prices rise to Rs.2,940 per gram on March 18th and March 19th.
- Technical corrections caused Gold to slip to Rs.2,964 per gram between March 24th and March 26th.
- A strong demand for Gold allowed it to recover to Rs.2,979 per gram on March 27th.
- Technical corrections caused Gold to drop to Rs.2,942 per gram to close the month’s trading on March 31st.
|1st day||Rs.3,152 per gram||Rs.3,075 per gram||Rs.2,890 per gram|
|Last day||Rs.3,065 per gram||Rs.2,938 per gram||Rs.2,821 per gram|
|Highest price||Rs.3,152 per gram on 1st October and 2nd October||Rs.3,166 per gram on 5th and 6th November||Rs.2,892 per gram on 2nd December|
|Lowest price||Rs.3,021 per gram on 15th and 16th of October||Rs.2,932 per gram on 9th November||Rs.2,767 per gram on 22nd December|
Gold Rate Trend for Dindigul in October 2016
- Gold opened at Rs.3,152 per gram in Dindigul, with prices remaining constant until the 2nd due to sustained demand. This was also the highest rate at which gold traded in October. However, over the next couple of days, gold rate declined.
- Gold was priced at Rs.3,040 per gram for 24 karat gold on the 6th of October and declined steadily as the weeks progressed. On the 15th of October, rate of gold plunged to Rs.3,021 per gram and was the same the next day as well. This was the lowest rate at which gold traded at for the month.
- As the month progressed there were a few fluctuations in the rate of gold but the price was relatively low nevertheless.
- However, despite demand due to ongoing wedding season, there was a decline of 2.76% noted in the price of gold at the end of October.
Gold Rate Trend for Dindigul in November 2016
- In November, the price of gold was relatively high, due to an increase in demand as it was a continuation of the wedding season in India. Gold rate was quite high during the beginning of the month where the price was Rs.3,075 per gram. However, prices increased from the 2nd of November due to a high demand for gold in both overseas and domestic markets.
- The rate of gold was Rs.3,104 per gram on 2nd November and Rs.3,098 per gram on 3rd November. On the 4th of November, rate of gold increased to Rs.3,112 per gram.
- On the November 5th, the rate of gold shot up to Rs.3,119 per gram and stayed steady at this the next day as well.This price could not be sustained and reduced again before shooting up to Rs.3166 per gram on the 9th of December which was the highest for the month of November.
- On November 8th, Prime Minister Narendra Modi announced the ban of notes worth Rs.500 and Rs.1,000 in order to combat corruption. This rule was termed as demonetization. Due to the severe cash crunch that followed in the wake of this announcement, fluctuations were noted in the price of gold.
- The rate of gold declined steadily throughout November with some fluctuations here and there.
- From the 20th of November, gold was priced at Rs.2,986 per gram. Gold traded at Rs.2,932 per gram on the 25th of November and this was the lowest rate at which gold traded at for the month.
- Towards the end of November, the price of gold fluctuated before closing at Rs.2,942 per gram.. A number of factors contributed to a decline of 4.01% in the price of gold.
Gold Rate Trend for Dindigul in December 2016
- On the 1st of December, the rate of gold was Rs.2,890 per gram. Gold rate increased by Rs.2 the next day but decreased steadily thereafter over the following days.
- However, the gold increased to Rs.2,893 per gram on the 5th of December and 6th of December which was also the highest rate at which gold traded at for the month.
- Price of gold reduced thereafter and was steady at Rs.2,836 per gram and finally declined to Rs.2,800 per gram in the 15th of December.
- The rate of gold continued declined with a few minor fluctuations. This could be attributed to reduced demand for gold both overseas and in India.
- On the last day of December, the price of gold was Rs.2,821 per gram. A decline of 2.38% was recorded over with respect to gold rate.
|First day||Rs.3,129 per gram||Rs.3,201 per gram||Rs.3,120 per gram|
|Last day||Rs.3,214 per gram||Rs.3,142 per gram||Rs.3,176 per gram|
|Highest price||Rs.3,214 per gram on 30th and 31st July||Rs.3,229 per gram on 3rd August||Rs.3,197 on 8th September|
|Lowest price||Rs.3,118.50 per gram on 25th July||Rs.3,142 per gram on 31st August||Rs.3,120 on 1st September|
Gold Rate Trend of Dindigul in July 2016
- The month of July saw positive trends in the global market.
- Gold prices experienced an overall increase of 2.72% this month.
- On 1st July gold traded at Rs.3,129 per gram.
- By the end of the month, gold had climbed to Rs.3,214 per gram.
- High demand this month could be attributed to the expectations of monetary stimulus from central banks post the Brexit vote.
Gold Rate Trend of Dindigul in August 2016
- Gold traded at Rs.3,201 per gram on 1st August.
- Demand for the yellow metal was high at the start of the month owing to bullish tendencies in the global market.
- The highest price for this month was Rs.3,229 per gram on 3rd August.
- Prospects of an interest rate hike by the U.S. Federal Reserve sprung up again and demand for gold dropped drastically.
- Gold traded at Rs.3,142 per gram on 31st August.
- The trend in gold prices this month was a decline of 2.08%.
Gold Rate Trend of Dindigul in September 2016
- On 1st September, gold traded at Rs.3,120 per gram. This was the lowest price for this month.
- Gold prices rose to Rs.3,197 per gram on 8th September, the highest price for this month.
- The highlight of this month was that the U.S. Federal Reserve decided to put the interest rate hike on hold for now on account of the presidential elections.
- Gold regained its sheen and prices soared as demand for the metal picked up.
- Gold traded at Rs.3,176 per gram on 30th September marking an increase of 1.79% in gold prices this month.
|1st day||Rs. 2,890 per gram||Rs. 3,069 per gram||Rs.2,934|
|Last day||Rs. 3,069 per gram||Rs. 2,914 per gram on 31st of May||Rs.3,105|
|Highest price||Rs.3,069 per gram on the 30th of April||Rs. 3,076 per gram on May 2nd||Rs.3,180 per gram on 27th June|
|Lowest price||Rs. 2,869 per gram on 4th of April||Rs. 2,899 per gram on the 30th of May||Rs.2,916 per gram on 3rd June|
Gold Rate Trend of Dindigul in April 2016
- Gold traded at Rs. 2,890 per gram on the 1st of April.
- Gold rate fluctuated a lot in April but still managed to rise to Rs. 3,069 per gram by the end of the month.
Gold Rate Trend of Dindigul in May 2016
- Expectations of a rate hike by the U.S. Federal Reserve pushed down gold prices as gold stood at Rs. 3,076 on May 2nd.
- Rising dollar further led to the decline of gold in May as gold traded at Rs. 2,914 on the 31st of May.
Gold Rate Trend of Dindigul in June 2016
- Gold traded at Rs.2,934 per gram at the beginning of the month.
- The Brexit polls resulted in very low prices at the start of June.
- Gold rates soon picked up owing to the trends in the global markets.
- There was an overall 5.83% increase as there was a renewed offtake by jewellers in the domestic market.
|1st day||Rs. 2,538 per gram||Rs. 2,720 per gram||Rs. 2,976 per gram|
|Last day||Rs. 2,710 per gram||Rs. 2,984 per gram||Rs. 2,891 per gram|
|Highest price||Rs. 2,719 per gram on January 28th||Rs. 2,984 per gram on 25th of February||Rs. 2,991 per gram on 8th and 9th of March|
|Lowest price||Rs. 2,538 per gram on 1st and 3rd of January||Rs. 2,720 per gram on 1st of February||Rs. 2,874 per gram on 28th of March|
Gold Rate Trend of Dindigul in January 2016
- Gold opened at Rs. 2,538 on 1st of January.
- Gold witnessed a steady rise in January owing to global demand.
- Gold hit its highest for the month on 28th January at Rs. 2,719 per gram.
Gold Rate Trend of Dindigul in February 2016
- Gold stood at Rs. 2,720 per gram on the 1st of February.
- There was a steady rise in gold rate in February and gold hits its peak for the month on 25th of February at Rs. 2,984 per gram.
Gold Rate Trend of Dindigul in March 2016
- There was a decline in gold rate from 29th of February as gold opened at Rs. 2,976 per gram on 1st of March.
- Low demand led to a further decline as gold was at its lowest for the month at Rs. 2,874 on 28th of March.
Gold as an investment
All forms of Gold such as bars, coins and jewelry are sold in the Dindigul district. Bullion bars are much in demand as a traditional form of investment. There are serpentine queues across jewelery stores in the district during festivals and other auspicious occasions.
Physical Gold: Different styles of traditional jewelery including temple jewelery is sought-after in Dindigul. Handcrafted jewellery is also popular. Customers can buy gold with assay certifications across various jewelry stores such as Thangamayil Jewellery, Vasavi Jewellery Mart and Paramasivan Pillai Jewellers among others.
Gold contracts: Consumers in Dindigul also invest in gold contracts at commodities trading exchanges such as the Multi Commodity Exchange and National Spot Exchange. Both the MCX and NSE sell gold contracts (spot and future) in India with electronic settlement systems. Commodity futures entail low brokerage costs. The exchanges have both delivery and cash systems. The Forward Markets Commission regulates both the exchanges.
Gold rates in Dindigul
Gold rates in Dindigul increased in the first two months of 2016. 1 gm of 24 karat gold which was pegged at Rs.2554 on December 27th, 2015, rose by 2.3% to Rs.2613 in the first week of January 2016. Gold rates rose throughout January in that the price of 1 gm of 24 karat gold pegged at Rs.2677 on January 11th rose by 1.5% to Rs.2718 towards the end of the month. The trend continued in February as the price of 1 gm of 24 karat gold pegged at Rs.2755 on February 16th, rose by 3.8% to Rs.2862 on February 20th. The trend continued in the first week of March with 1 gm of 24 karat gold pegged at Rs.3036. Gold rates in Dindigul plummeted in the latter half of 2015 barring mini-rallies in that 1 gm of 24 karat gold which was pegged at Rs.2720 in August, fell by 0.5% to Rs.2705 in September 2015. The downward slide continued in the month of October as well. 1 gm of 24 karat gold was pegged at Rs.2562 in November 2015.
Also Check Gold Price in NearBy Cities of Dindigul
- Also Check: Gold Rate in Tamil Nadu
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