Gold Rate In Hosur

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The modern day Hosur, located in Tamil Nadu is a satellite town of Bangalore, though it falls under the legalities and jurisdiction of Tamil Nadu. Hosur houses many industrial complexes and SEZs for industrial companies. Though from a birds-eye-view it might seem that Hosur is not a very prospering region, looks often belie the fact that the region is quite prosperous and residents invest in gold quite frequently. Industrial activity and a good pay scale in these areas has contributed to a healthy consumption of gold in Hosur while the rates of gold are more or less in tune with the international markets. Hosur being primarily an industrial town, festivities being observed are far and few between, so the gold that is actually invested in Hosur accounts mostly through investment. That in no way may signify that the consumption of gold in the form of jewellery is ignored.

Gold price in Hosur

The 24 karat variant of gold that is regarded as the purest variety is also the softest variant of the precious metal and in its own weight, isn’t worth for crafting jewellery. The primary reason being that it is too soft for daily use. 24 karat gold is normally used in conjunction with other metals such as copper, platinum, bronze and others to produce different shades of gold that have some amount of weight and durability required in jewellery. 22 karat gold is also a variant that is used for jewellery and for plating conducting metals used in electronics. 18 karat and 14 karat gold are lesser used variants, finding their applications in mostly commercial uses though usability in jewellery is not unheard of. International market trends, import duties and various government cess affect the rates of gold in Hosur, along with the economic law of supply and demand. The difference in the international rates and the local rates in Hosur stays more or less marginal though.

24 karat gold

24 karat gold in all its purity, as told above, is unsuitable for jewellery. However this purity becomes an advantage when it comes to investing in gold. In March 10, 2010, 24 karat gold weighing a gram had a list price of INR 2968. This price is in accordance with the international rates and the duties and taxes added. Any physical form of this 24 karat gold, like coins and bars will cost marginally higher per gram. That marginal cost mostly includes making charges and minting costs. After a 5 year low in the rates of gold in 2015, the beginning of 2016 started off with gold rates stabilising and going back up to their former stature. There has been an increase of around INR 400 for the cost of one gram of 24 karat gold since January 2016 and post the hiatus of the US Federal Reserve taxation, it is expected gold rates will continue to climb. August 2015 saw the lowest price of gold at INR 2510 for one gram of 24 karat purity.

22 karat gold

With a 92% purity, 22 karat gold is preferred by people who want to invest in gold but do not find the 24 karat gold within their specific economic means. 22 karat gold is more affordable than the 24 karat variant because of the lesser purity and it also involves lesser fractioning in alloys when used in jewellery. One gram of 22 karat gold had a rate of INR 2760 per gram in Hosur as of March 10, 2016. Being the lesser sibling of 24 karat gold, 22 karat gold also faced the same falling rates in 2015. In August 2015 a gram of 22 karat gold was trading at INR 2350 per gram and subsequently, in January 2016, this variant of gold appreciated to INR 2374 per gram.

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

Gold rate trend in Hosur for April 2017

• Rate of gold in Hosur varied throughout the month due to market fluctuations in the rate of gold. This yellow metal opened at Rs.2,956 per gram and traded steadily at this rate until 3 April.
• Due to marginal increase in the demand for gold from domestic markets, the rate of gold increased to Rs.2,987 per gram on 4 April.
• Demand from markets were quite low due to a rise in the value of the U.S. dollar, resulting in the value of gold dropping marginally thereafter.
• The rate of gold plunged to monthly low of Rs.2,954 per gram on the 8 and 9 of April before marginally recovering thereafter.
• As the value of the U.S. dollar fell due to political situation, the rate of gold increased to trade at Rs.3,040 per gram on 15 and 16 of April which was also the highest at which gold was priced for the month of April in Hosur.
• Rate of gold was steady at Rs.3,035 per gram on 22 April and 23 April.
• On the last two days of the week, gold was priced at Rs.2,984 per gram recording an incline of 0.94%.

Gold rate trend in Hosur for May 2017

• There were a number of variations noted in the rate of gold throughout the month of May due to political situations such as Emmanuel Macron’s win in the French Presidential Elections.
• On the first day of the month, gold was priced at Rs.2,984 in Hosur but reduced the next day to Rs.2,952 per gram as a result of declining demand.
• On 9 May, the price of this yellow metal decreased quite significantly to trade at Rs.2,904 per gram. However, this price was not sustained and the rate of gold declined even further.
• Due to a reduction in the demand for this metal along with a rise in the value of the U.S. dollar, the price of gold fell to a monthly low of Rs.2,888 per gram on 15 May.
• The rate of this precious metal was steady at Rs.2,954 per gram on 19 and 20 May due to relatively stable demand.
• Due to a demand for bullion, the rate of gold increased significantly to trade at Rs.2,979 per gram on 27 and 28 May.
• On the last day of the month in Hosur, gold was priced at Rs.2,968 per gram, recording a decline of 0.53% in the price of this metal.

Gold rate trend in Hosur for June 2017

• Gold was priced at Rs.2,977 per gram on June 1 in Hosur and fell the next day to be priced at Rs.2,965 per gram due to a fall in the demand.
• The rate of gold rose to be priced at Rs.3,006 per gram on June 5 and continued to rise thereafter until June 8.
• There were a number of variations noted in the rate of this metal due to market factors and mixed cues.
• Rate of this metal varied between Rs.2,983 per gram on 12 June to Rs.2,949 per gram on 19 June.
• Due to the impending implementation of GST, there was a significant impact on the rate of gold from markets, both domestic as well as international.
• On the last day of the month of June, gold was priced at Rs.2,962 per gram in Hosur, recording a decline of 0.50% in the price of this metal.

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

Gold Rate Trend in Hosur for January 2017:

• Tamil Nadu’s city of Hosur saw a similar to that of most Indian cities, wherein price trends were on the positive side in the first two months but fell in the third.
• When trading began in Hosur for January, gold was trading at Rs.2,821 per gram and seemed to increase as US dollar rate was valued at a much lower rate.
• In fact, the trend is Hosur was so positive that the rate seen on 1st was the lowest gold price for the month.
• Though there were plenty of fluctuations along the way, gold prices never looked like they would decline.
• Prices hit their highest on 24th, when the metal was trading at RS.2,974 per gram.
• The month ended on a slight low as bullion rates had gone down to Rs.2,942 per gram.
• January saw gold price trends change by 4.28% as opposed to the negative trend from Q4 2016.

Gold Rate Trend in Hosur for February 2017:

• Gold price trends dropped off considerably in February but still maintained a positive rate growth.
• The month began with gold selling at Rs.2,957 per gram but decreased to Rs.2,940 per gram on 3rd.
• However, rates seemed to pick up after that as prices went up for the next few days before fluctuating for most part of the second and third week.
• Gold rates reached their highest on 25th and 26th to reach Rs.3,014 per gram but trailed off at the end of the month to close at Rs.3,001 per gram.
• February, in all, saw gold price trends change by 1.49% - a good 2.79% less than that of January.

Gold Rate Trend in Hosur for March 2017:

• The last month of 2017 quarter one saw gold prices decline owing to a number of global and domestic factor.
• This is the time when US Federal Reserve decided to hike the interest rate, which brought about a fall in bullion demand.
• On 1st of March, gold was trading at Rs.2,994 per gram - Rs.7 drop from the last day of the previous month.
• Gold prices endured some tough days as they went down to as low as Rs.2,906 per gram but increased slightly over the next few days.
• Bullion demand rallied to end the month at Rs.2,942 per gram and clocked a decline of 1.73% for March 2017.
• Overall, gold price trend average remained at an average of 1.34% for the quarter ending in March.

Investment in Gold in Hosur

Of late, a government introduced gold scheme has intentions of monetising gold and the same is available through major and minor banks alike across the nation. Even then, people have not stopped buying gold in Hosur. Popular options for investing in gold in Hosur can include the traditional method of buying jewellery and ornaments and also the more modern method of investing in paper gold. The frequent methods for doing so are mentioned below.

Commercial and Personal Gold

Commercial and personal gold can include coins, gold purchased for industrial purposes and jewellery. Herein, the value of physical gold is placed on a pedestal and this is the form of gold that is most accepted in India and, so to speak, in Hosur.

Gold through Market Trade

Gold in its physical form might not present a very feasible option for many people. For that specific reason, gold ETFs and bonds are available online with most banks in Hosur. Apart from that, people can also trade in gold on the National Stock Exchange, but that would require a considerable amount of funds.