Gold Rate In Kadapa

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Gold Price In Kadapa

Kadapa, located at the south central part of Andhra Pradesh, is also known as the heart of Rayalaseema with the district being well connected to four other districts of the Rayalaseema region. Kadapa, also known for its rich prehistoric culture and glorious history, has been under the rule of Cholas and Nizams, Kingdom of Mysore and the Vijayanagar Empire during the past. Since the bifurcation of Andhra Pradesh, there has been a significant growth in business and gold trading in Kadapa with the city being located at a strategic distance from other major trade centres in the state. Being one of the booming centres of trading, the city has witnessed a considerable rise in the consumption of gold over the years.

Gold Rate Trend in Kadapa for April 2018 to June 2018 (per gram of 24 karat gold)

Gold Rate Trend in Kadapa for April 2018:

• The week opened with gold trading at Rs.3,072 per gram on the 1st with demand picking up amid the US-Sino trade talks.
• With the US dollar losing ground amid weak market cues, investor demand for the bullion surged initially.
• However, with the US dollar recovering with good returns on equities and stocks, gold prices dropped to Rs.3,064 - the lowest monthly figure - on the 6th.
• With diplomatic relations deteriorating between the US and North Korea, market participants gravitated towards investments considered such as the bullion.
• Strong trends overseas coupled with steady demand from industries, jewellers and retailers led to gold rates surging to Rs.3,213 per gram on the 15th.
• When trading closed for the month, the precious metal was recorded trading at Rs.3,123 per gram on the last day, recording a surge of 1.66% in gold prices during the month.

Gold Rate Trend in Kadapa for May 2018:

• The month began with gold trading at Rs.3,114 per gram on the 1st as an increase in the dollar value from the previous session led to rates dropping at the domestic level.
• Thanks to an increase in industrial offtake for the metal amid the weakened US dollar, rates recovered over the next couple of weeks.
• Strong domestic demand coupled with positive global cues led to prices holding at Rs.3,234 per gram on the 14th. This was also the highest recorded monthly figure in Kadapa.
• Demand, however, was suppressed the next few days with the US dollar index gaining against other currencies, strengthening the US dollar.
• Poor market trends coupled with reduced local demand from industries, retailers and jewellers led to gold rates closing at Rs.3,122 per gram on the 31st.
• Kadapa recorded a profit of 0.25% in gold trade, thanks to the firm overseas trends that resulted in consistent domestic demand during the month.

Gold Rate Trend in Kadapa for June 2018:

• The final month of the second quarter saw the bullion trade greatly affected by the US dollar index, which was influenced by the US Federal Reserve monetary policy meeting.
• Trading commenced for the month with gold rates in Kadapa holding at Rs.3,100 per gram on the 1st amid poor overseas trends.
• Thanks to an increased demand for local retailers during the initial two weeks, gold prices touched a monthly high figure of Rs.3,119 per gram on the 9th and the 10th.
• With the US-North Korean summit turning out to be successful, the US dollar rose considerably during the month. This led to demand dropping over the next couple of weeks and gold was recorded trading at Rs.3,060 per gram on the 22nd.
• The month came to an end with the yellow metal priced as low as Rs.3,054 per gram on the 30th with poor domestic demand for the precious metal.