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  • Gold Rate In Erode

    Daily Gold Rates
    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    26 Jun 2017 ₹ 2,783 ₹ 22,264 ₹ 2,977 ₹ 23,816
    25 Jun 2017 ₹ 2,773 ₹ 22,184 ₹ 2,964 ₹ 23,712
    23 Jun 2017 ₹ 2,766 ₹ 22,128 ₹ 2,958 ₹ 23,664
    22 Jun 2017 ₹ 2,765 ₹ 22,120 ₹ 2,956 ₹ 23,648
    21 Jun 2017 ₹ 2,759 ₹ 22,072 ₹ 2,951 ₹ 23,608
    20 Jun 2017 ₹ 2,749 ₹ 21,992 ₹ 2,940 ₹ 23,520
    19 Jun 2017 ₹ 2,757 ₹ 22,056 ₹ 2,949 ₹ 23,592
    18 Jun 2017 ₹ 2,762 ₹ 22,096 ₹ 2,955 ₹ 23,640
    17 Jun 2017 ₹ 2,759 ₹ 22,072 ₹ 2,951 ₹ 23,608
    16 Jun 2017 ₹ 2,764 ₹ 22,112 ₹ 2,957 ₹ 23,656

    *Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.

    Erode is a South Indian city located in Tamil Nadu. It is the seventh biggest continuous urbanized area in the state of Tamil Nadu and is located on the banks of River Kaveri. The city houses many historic temples which act as a tourist attraction. It is known to be one of the largest producers of turmeric in India and also has one of the largest markets for coconut. It has a booming agricultural and textile industry which provides employment to major part of the residents of Erode. Just like any other state in South India, Gold has a booming business in the city. There are gold store spread all over the city.

    Gold Rate In Erode

    Gold rate anywhere is based on the weight, quantity and quality of the yellow metal and the same is applicable to the gold rate in Erode. The price for gold of 22 karat is different from that of 24 karat gold and gold is measured in grams when sold as a commodity or physical investment. Given below is the gold rate for 22 karat and 24 karat gold in Erode for different weights.

    Gold rate for 22 karat

    Weight of 22 karat gold

    Price for 22 karat gold

    1 gram

    Rs.2,782

    10 gram

    Rs. 27,820

    100 gram

    Rs. 2,78,200

    1 kg

    Rs. 27,82,000

    Gold rate for 24 karat

    Weight of 24 karat gold

    Price for 24 karat gold

    1 gram

    Rs.2,979

    10 gram

    Rs. 29,790

    100 gram

    Rs. 2,97,900

    1 kg

    Rs. 29,79,000

    **The above mentioned rates are of 12/3/2016 and are subject to change.

    Gold Rate Trend in Erode for January 2017 to March 2017 (per gram of 24 karat gold)

    Factor January February March
    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
    Trend Incline Incline Decline
    Change 4.28% 1.48% -1.6%

    Gold Rate Trend for Erode in January 2017:

    • Gold opened the trading for the month of January at Rs.2,821 per gram on January 1st.
    • Positive global demand for Gold saw the price of Gold rise to Rs.2,858 per gram on January 5th.
    • Gold ended the first week of trading at Rs.2,872 per gram on January 8th.
    • A uncertain environment surrounding the US monetary policy allowed Gold to climb to Rs.2,895 on the 9th of January.
    • A healthy demand for the precious metal globally allowed Gold to continue its rise to Rs.2,914 per gram on January 11th.
    • A weakened US Dollar and healthy global demand saw Gold close the week’s trading at Rs.2,941 per gram on January 15th.
    • Emerging global demand saw Gold open the third week of trading at Rs.2,955 per gram on January 16th.
    • Sustained demand and a struggling US Dollar saw Gold rise to Rs.2,971 per gram on January 18th.
    • Technical trading saw Gold prices slip to Rs.2,951 per gram on January 19th and January 20th.
    • Prevailing low 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 Erode in February 2017:

    • A global upswing in demand 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 allowed Gold to 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 in the domestic market saw Gold open the second week of trading at Rs.2,954 per gram on February 6th.
    • Uncertainty looming over 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 low 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 Erode 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.

    Gold Rate Trend in Erode for October 2016 to December 2016 (per gram of 24 karat gold)

    Factor October November December
    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
    Trend Decline Decline Decline
    Change -2.76%                                 -4.45% -2.38%

    Gold Rate Trend for Erode in October 2016

    • On the 1st of October, the price of gold was Rs.3,152 per gram in erode, with prices remaining constant until the 2nd due to demand from both domestic as well as overseas markets. This was also the highest at which gold was priced in October. This rate, however could not be sustained and the price of gold declined over the next few days.
    • Rate of gold was Rs.3,040 per gram for 24 karat gold on the 6th of October and declined steadily as the week progressed. On the 15th of October, rate of gold declined 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.
    • 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 the month.
    • Throughout the month of October, there were a minor fluctuations witnessed in gold prices.

    Gold Rate Trend for Erode in November 2016

    • In November, the rate of gold was quite high which can attributed to high 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 Erode in December 2016

    • On the 1st of December, the price 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 reduced 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.

    Gold Rate Trend in Erode for July 2016 to September 2016 (per gram of 24 karat gold)

    Factor July August September
    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
    Trend Incline Decline Incline
    Change +2.72% -1.84% +1.79%

    Gold Rate Trend of Erode in July 2016

    • Gold prices climbed by 2.72% this month on account of high demand in the domestic and global market.
    • On 1st July, gold traded at Rs.3,129 per gram.
    • The market had a bullish outlook as there were expectations that the central banks would provide monetary stimulus into the markets to negate the effects of the Brexit vote.
    • By the end of the month, gold had climbed to Rs.3,214 per gram.

    Gold Rate Trend of Erode in August 2016

    • The trend in gold prices this month was a decline of 2.08% because of growing expectations of the Fed rate hike this month.
    • Gold traded at Rs.3,201 per gram on 1st August.
    • Initially, gold prices climbed as demand was stable.
    • Gold traded at its highest on 3rd August at Rs.3,229 per gram.
    • The U.S Federal Reserve raised expectations of the interest rate hike which led to demand dropping in the global markets.
    • The week closed with gold trading low at Rs.3,142 on 31st August.

     

    Gold Rate Trend of Erode in September 2016

    • Gold prices were low at the start of the month.
    • Gold traded at Rs.3,120 per gram on 1st September which was the lowest rate recorded for this month.
    • By 8th September, gold reached its highest price for the month, trading at Rs.3,120 per gram.
    • Gold prices climbed this month on account of the U.S. Federal Reserve rate hike being put on hold in light of the upcoming U.S. presidential elections.
    • The trend for this month was an increase of 1.79% in gold prices. 

     Gold Rate Trend in Erode for April 2016 to June 2016 (per gram of 24 karat gold)

    Factor April May June
    1st day Rs. 2,890 per gram Rs. 3,069 per gram Rs.2,918 per gram
    Last day Rs. 3,069 per gram Rs. 2,914 per gram on 31st of May Rs.3,103 per gram
    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.2,911 per gram on 3rd June
    Trend Rising Decline Increase in price
    Change +6.19% -5.05% +6.33% increase

    Gold Rate Trend of Erode 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 Erode 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 per gram on May 2nd.
    • Rising dollar further led to the decline of gold in May as gold traded at Rs. 2,914 per gram on the 31st of May.

    Gold Rate Trend of Erode in June 2016

    • Gold prices in Guntur were on the rise due to market forces and increased domestic demand.
    • Demand rose domestically in spite of a global trend of falling gold sales due to market stability at the start of the month.
    • Equities fell as the British referendum drew close, with the markets falling sharply and gold demand rising as the results were announced.
    • Gold prices were recorded at Rs.3,103 per gram after a high of Rs.3,180 per gram.
      Jan Feb March
    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
    Trend Rising Rising Decline
    Change +6.77% +9.70% -2.856%

    Gold Rate Trend of Erode in January 2016

    • Gold opened at Rs. 2,538 per gram on 1st of January.
    • Gold witnessed a steady rise in January owing to global demand.
    • By the end of January gold price had rose owing to the wedding season. Gold traded at Rs. 2,710 per gram on 30th of January.

    Gold Rate Trend of Erode 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 Erode 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 per gram on 28th of March.

    Gold investments in Erode

    While majority of the population views gold as a commodity, there are others who know that gold can also act as an investment. Listed below are the most popular gold investment options in Erode.

    • Gold jewelry- This is the most popular form of investment when it comes to Gold in Erode. Majority of the people prefer to purchase gold jewelry over other gold investments. But the price of gold jewelry will be much higher than the actual rate of gold as it includes many other charges like making charge, wastage charge, etc. Gold jewelry does not have much of a resale value if it has a very intricate design with precious stones and the price of the stones won’t be taken into value at the time of relase.
    • Market trade- One can invest in gold ETFs, E-gold and gold futures. It offers a very convenient and easy way to get exposure to gold in India. Though this type of investment is not as popular yet, a lot of people have started investing in it owing to the advantages offered by the investment.
    • Gold bullion and coins- Gold bullion and coins is another form to invest in gold. Gold bullion is the purest for of gold one can invest in and gold coins are relatively cheaper than bullion for people looking to invest minimum amount.

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