Gold Rate In Erode

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Gold Price In Erode

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 Trend in Erode for January 2018 to March 2018 (per gram of 24 karat gold)

Factor	January	February	March
1st day	Rs.3,002 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.3,084 per gram on  20 & 21 January	Rs.3,103 per gram on 14 February	Rs.3,105 per gram on 24 & 25 March
Lowest price	Rs.3,001 per gram on 4 January	Rs.3,003 per gram on 8 February	Rs.3,030 per gram on 19  March
Trend	Incline	Incline	Incline
Change	1.43%	0.19%	0.95%

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

Factor	October	November	December
1st day	Rs.3,040 per gram	Rs.2,988 per gram	Rs.2,982 per gram
Last day	Rs.2,997 per gram	Rs.2,992 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 and 19 November	Rs.3,015 per gram on 30, 31 December
Lowest price	Rs.2,997 per gram on 6, 30 and 31 October	Rs.2,974 per gram on 6 November	Rs.2,903 per gram on 13 December
Trend	Decline	Incline	Incline
Change	1.41%	0.13%	1.10%

Gold rate trend in Erode for October 2017:

• Gold trade opened in Erode with the yellow metal priced at Rs.3,040 per gram on the 1st.
• With the US dollar rising against a basket of other apex currencies amid possibilities of a Fed rate hike during the quarter, prices plummeted to Rs.2,997 per gram on the 6th.
• However, with the KYC norms being mandated by the Indian government during the week, a rise in domestic demand brought about by positive buyer sentiments led to gold rates surging to Rs.3,042 per gram on the 12th.
• The 14th witnessed gold rate in Erode surging to Rs.3,059 per gram - the highest recorded monthly figure - amid the strong global trends that pushed demand higher for the precious metal.
• With the US dollar recovering the previous weeks’ losses, gold price in Erode plunged to Rs.3,026 per gram on the 20th.
• Strong dollar index coupled with firmer equities market resulted in gold prices declining over the next few days. On the 26th, the yellow metal was recorded trading at Rs.3,000 per gram.
• The month ended with the precious metal prices holding at Rs.2,997 per gram on the 31st with markets remaining cautious ahead of the monetary policy meetings by three major central banks.

Gold rate trend in Erode for November 2017:

• The month began with gold trading at Rs.2,998 per gram on the 1st with a slight increase in domestic demand for the metal.
• However, with the US dollar strengthening in the global market, gold price in Erode dropped to Rs.2,977 per gram on the 4th.
• The 6th witnessed gold rates in Erode hitting their lowest recorded monthly figure of Rs.2,974 per gram amid the poor trend overseas.
• Demand for safe-haven assets such as gold surged with the US-North Korean relations deteriorating in the Korean peninsula. This led to gold rate in Erode recovering to Rs.3,015 per gram on the 12th.
• On the 18th, the weakened US dollar coupled with poorly performing equities resulted in the bullion prices rising to Rs.3,059 per gram. This was also the highest recorded monthly figure during the month.
• Demand, however, couldn’t keep up against the rising US dollar and prices plummeted to Rs.3,012 per gram on the 24th.
• The US dollar rose further towards the end of the month with a landmark tax reform plan presented at the US Senate. This led to gold price in Erode plunging to Rs.2,992 per gram on the 30th when the month concluded.
• Strong global cues coupled with an increased domestic demand by jewellers, retailers and industries resulted in gold rates rising by 0.13% during the course of the month.

Gold rate trend in Erode for December 2017:

• When trading commenced for the month, the bullion was recorded holding at Rs.2,982 per gram on the 1st of December.
• The US dollar surged ahead of other major emerging currencies with the approval of the country’s largest tax reform plan to overhaul the present US tax system. This led to gold rates in Erode plummeting to Rs.2,917 per gram on the 8th.
• Poor global trends coupled with reduced domestic demand from jewellers, retailers and industries led to gold rates in Erode hitting their lowest at Rs.2,903 per gram on the 13th.
• The Federal Reserve decision to raise its benchmark interest rates proved to be unfavourable for the equity markets and resulted in the Asian stocks failing. This led to an increase in global demand for commodities such as gold and the precious metal was priced at Rs.2,956 per gram on the 23rd.
• On the 28th, with stockists and traders mulled over by the final result of the tax overhaul on the US economy, gold rates rebounded to Rs.2,985 per gram in the domestic markets.
• The bullion was recorded trading at Rs.3,015 per gram on the 31st and Erode registered a profit of 1.10% in gold trade during the course of the month.

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

Factor	July	August	September
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
Trend	Decline	Incline	Incline
Change	-0.84%	1.87%	1.50%

Gold Rate Trend in Erode for July 2017:

• Gold rate in Erode opened at Rs.2,950 per gram for the month of July.
• As demand was weak in the local circles because of GST, gold rates seemed to fall for most of the month,
• Prices went to as low as Rs.2,796 per kg on the 11th and fluctuated considerably over the course of the month.
• Demand picked up slightly to end at Rs.2,869 per gram by the 20th of July,
• When the month came to an end, gold was being traded at Rs.2,925 per gram.
• Low demand brought about by the introduction of GST saw gold rate in Erode trends drop by 0.84% compared to June.

Gold Rate Trend in Erode for August 2017:

• The month of August seemed to recover from GST’s clutches, which was evident from the positive change in gold rates.
• Gold traded at Rs.2,926 per gram on the 1st of August, but rates seemed to fall as demand remained subdued for much of the month.
• A strong dollar and a resultant weak demand saw gold perform underwhelmingly over the second and third week of the month.
• But, prices surged towards the end of the month as the metal traded at Rs.2,999 per gram on 29th August.
• On the final day of August, gold traded at Rs.2,971 per gram - marking a 1.76% increase in price trends.

Gold Rate Trend in Erode for September 2017:

• September’s gold trading gained on the positive trend seen in August.
• Trading commenced for the month with the yellow metal being priced at Rs.2,995 per gram. This also was the lowest gold rate for September.
• Rates hit a high of Rs.3,102 per gram on the 8th as US - North Korea diplomatic issues deteriorated further.
• The reason for such a significant rise in prices was due to confirmation offered by North Korea about its latest and most powerful nuclear test.
• However, prices stabilised after the US dollar improved after a shambolic performance put up in the initial days of the month.
• At the time of closing on the 30th of September, gold was priced at RS.3,040 per gram.
• Prices increased by 1.50% this month, thanks to festive demand and the geopolitical conflict involving US and North Korea.

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

Factor	April	May	June
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
Trend	Incline	Decline	Decline
Change	0.94%	-0.53%	-0.50%

Gold rate trend in Erode for April 2017

• Gold prices in Erode rose as April began, with the metal trading at Rs.2,956 per gram and rising to Rs.2,987 per gram on 4 April as a result of conducive market forces.
• The fluctuation in the U.S. dollar value led to increased offtake from jewellers as well as Asian markets, which helped keep prices steady with some minor variations.
• Gold traded at Rs.3,018 per gram on 13 April as U.S. markets reeled from continued allegations of Russian interference in the U.S. presidential election result, as the dollar fell heavily against other global currencies.
• Reaching a monthly high of Rs.3,040 per gram on 15 & 16 April, gold prices were steady for the majority of the month.
• A decline in local demand led to a drop in price as gold traded at Rs.2,998 per gram on 24 April.
• A recovery by the markets led to a further drop in demand for gold which led to the metal trading at Rs.2,973 per gram on 26 April before prices rose to Rs.2,984 per gram on 30 April.
• Positive cues and favourable market conditions led to gold prices rising by 0.94% over the course of the month.

Gold rate trend in Erode for May 2017

• Gold prices began the month trading at Rs.2,984 per gram and fell in the subsequent days due to reduced demand from European markets.
• The victory of Emmanuel Macron in the French election buoyed markets across the continent and also helped boost American markets, though the dollar was volatile.
• Gold was priced at Rs.2,896 per gram on 8 May with no major change in price observed for the rest of the week.
• As the U.S. markets recovered from their earlier slump, demand for gold plunged further with the metal trading at Rs.2,954 per gram from 19-21 May.
• Minor fluctuations in the price of gold were recorded as the month progressed but the general trend was one of a decline in demand.
• Gold traded at Rs.2,979 per gram on 27 May before prices fell to Rs.2,968 per gram on 31 May, recording a decline in the overall price by 0.53%.

Gold rate trend in Erode for June 2017

• Gold prices in Erode in June fluctuated due to the weakening U.S. dollar and fluctuations in demand from Asian countries as well as Europe.
• The yellow metal was priced at Rs.2,977 per gram on 1 June and rose to Rs.3,030 per gram on 7 June due to a weak dollar and falling U.S. markets.
• The ongoing investigation into Russia influencing the U.S. presidential election coupled with ramped up crude oil production kept dollar values low.
• Prices fell to Rs.2,967 per gram on 13 June as markets began to recover and local demand was low.
• European markets also reduced demand for gold as the G20 summit negotiations boosted bourses across the continent.
• Gold traded at Rs.2,942 per gram on 20 June but recovered as the month progressed, trading at Rs.2,965 per gram on 23 June.
• Prices were stable towards the end of the month, with gold trading at Rs.2,962 per gram on 30 June.

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 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 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.