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Gold Rate In Kakinada
Kakinada is a city located in the state of Andhra Pradesh, India. It is also the 4th most populous city of Andhra Pradesh. Kakinada is very close to the second largest mangrove forest in India and also the Coringa Wildlife Sanctuary. The economy in Kakinada revolves mainly around the textile industry, fishing, agricultural and steel related supplementary units. It also houses the second largest port in the country. Seafood products, processed food, iron ore, bauxite powder and biofuel are some of the important export products in Kakinada. The yellow metal has quite a following in Kakinada even though it is seen as more of a commodity rather than an investment in Kakinada.
Gold Rate Trend in Kakinada for October 2016 to December 2016 (per gram of 24 karat gold)
|1st day||Rs.3,152 per gram||Rs.3,065 per gram||Rs.2,893 per gram|
|Last day||Rs.3,067 per gram||Rs.2,942 per gram||Rs.2,821 per gram|
|Highest price||Rs.3,152 per gram on 1st & 2nd October||Rs.3,166 per gram on 9th November||Rs.2,895 per gram on 2nd December|
|Lowest price||Rs.3,021 per gram on 15th & 16th October||Rs.2,914 per gram on 25th November||Rs.2,768 per gram on 22nd & 23rd December|
Gold Rate Trend for Kakinada in October 2016
- The price of gold in Kakinada was Rs.3,152 per gram on 1st October as demand from the industrial sector was high.
- Prices fluctuated due to market conditions, as the U.S. Dollar strengthened on brisk trading and speculation of a rate hike by the U.S. Federal Reserve.
- Prices dipped sharply as markets rallied, resulting in gold falling to Rs.3,021 per gram on 15th October.
- Gold prices rose in the next few weeks on an increase in demand from jewellers due to the upcoming festive season.
- Prices stabilised as the month ended, with gold trading at Rs.3,067 per gram on 31st October, with a drop of 2.69% in the overall price.
Gold Rate Trend for Kakinada in November 2016
- Gold traded at Rs.3,065 per gram on 1st November as markets began to fluctuate due to uncertainty over the impending U.S. elections.
- Prices rose to a monthly high of Rs.3,166 per gram on 5th November as markets fell following the results of the U.S. elections.
- The demonetisation of large currency notes led to a rush to buy gold across India, which kept prices high in spite of a lowering of industrial demand.
- As markets recovered, demand for gold fell, which led to a reduction in price.
- The continued currency shortage led to a decrease in demand from the retail sector, which in turn led to lower demand from jewellers.
- Gold continued to trade low, ending the month at Rs.2,942 per gram, which resulted in an overall loss in price of 4.01%.
Gold Rate Trend for Kakinada in December 2016
- The price of gold dropped during the month due to low demand from the industrial and retail sectors, with gold trading at Rs.2,893 per gram on 1st December.
- The Christmas season led to reduced demand for gold as markets were steady due to increased spending and bullish forecasts.
- Local demand was poor as jewellers failed to turn a profit due to the ongoing currency shortage, which led to a significant dent in demand.
- Gold fell to lows of Rs.2,768 per gram on 22nd December due to stagnating demand from the industrial sector.
- Prices recovered marginally as fears of an industrial slowdown in Asia prompted investors to consider bullion as a safe haven against future uncertainty.
- Apprehension over the economic policies under Donald Trump also led to the markets shedding points towards the end of the year, which boosted gold demand.
- Gold ended the year trading at Rs.2,821 per gram.
Gold Rate Trend in Kakinada for July 2016 to September 2016 (per gram of 24 karat gold)
|1st day||Rs.3,127 per gram||Rs.3,215 per gram||Rs.3,132 per gram|
|Last day||Rs.3,214 per gram||Rs.3,148 per gram||Rs.3,169 per gram|
|Highest price||Rs.3,214 per gram on 30th and 31st July||Rs.3,207 per gram on 18th August||Rs.3,195 per gram on 8th September|
|Lowest price||Rs.3,124 per gram on 2nd and 3rd July||Rs.3,148 per gram on 31st August||Rs.3,132 per gram on 1st September|
Gold Rate Trend in Kakinada for July 2016
- Gold was priced at Rs.3,127 per gram on 1st July, with the price rising to Rs.3,179 per gram on 7th July as demand increased.
- Markets were unstable due to the recent Brexit vote, leading to higher interest in gold.
- Local markets also reflected this trend, though the price fluctuated as the month progressed.
- Demand dropped towards the middle of the month due to a lull in demand from overseas, but soon picked up.
- Gold ended the month at Rs.3,214 per gram, an increase of over 2.7% in its value.
Gold Rate Trend in Kakinada for August 2016
- Prices were high as demand for gold from overseas markets was strong, with gold trading at Rs.3,215 per gram on 1st August.
- Prices fell as the month progressed as markets stabilised and the U.S. Dollar recouped its losses, with gold dropping to Rs.3,172 per gram on 12th August.
- Gold made marginal recoveries as domestic demand rose, but the overall trend was of a declining interest in the metal.
- Gold traded at Rs.3,148 per gram on 31st August, falling by over 2% due to falling demand.
Gold Rate Trend in Kakinada for September 2016
- Gold traded at Rs.3,132 per gram on 1st September, trading low due to weak demand.
- Market instability in Asia led to demand for the metal to rise, with gold reaching highs of Rs.3,195 per gram on 8th September.
- Prices were stable till the middle of the month, before a drop in demand due to the rising U.S. Dollar led to demand falling.
- Gold traded at Rs.3,169 per gram on 30th September, an overall increase of 1.8% for the month.
Gold Rate Trend in Kakinada for April 2016 to June 2016 (per gram of 24 karat gold)
|1st day||Rs. 2,894 per gram||Rs. 3,069 per gram||Rs.2,918 per gram on June 1st|
|Last day||Rs. 3,069 per gram||Rs. 2,916 per gram||Rs.3,103 per gram on 30th of June|
|Highest price||Rs. 3,069 per gram on April 30th||Rs. 3,069 on May 1st||Rs.3,165 per gram on 25th and 26th of June|
|Lowest price||Rs. 2,876 per gram on April 4th||Rs. 2,900 on May 30th||Rs.2,911 per gram on June 3rd|
Gold Rate Trend in Kakinada in April 2016
- As the jewellers’ strike continued, gold traded at a low Rs. 2,894 per gram.
- The strike was finally called off in April, leading to the markets gaining its strength back.
- April closed with the highest rate of the month at Rs. 3,069 per gram.
- The overall increase for the month was 6.04%.
Gold Rate Trend in Kakinada in May 2016
- May started well at Rs. 3,069 per gram. This was the highest price gold traded at for May.
- The month witnessed a declining trend in gold rates as the expectations of a Fed rate hike grew.
- The prices hit the lowest for the month on May 30th at Rs. 2,900.
- The prices dropped by 4.98% ending the month at Rs. 2,916 per gram.
Gold Rate Trend of Kakinada in June 2016
- Gold opened the month at Rs.2,918 per gram on the 1st of June.
- Gold hit the lowest for the month at Rs.2,911 per gram on the 3rd of June.
- Gold scored the highest for the month on 25th and 26th of June at Rs.3,165 per gram.
- Gold closed the month at Rs.3,103 per gram on the 30th of June.
|1st day||Rs. 2,541 per gram||Rs. 2,714 per gram||Rs. 2,994 per gram|
|Last day||Rs. 2,710 per gram||Rs. 2,964 per gram||Rs. 2,883 per gram|
|Highest price||Rs. 2,727 per gram on January 28th||Rs. 2,987 per gram on February 28th.||Rs. 2,991 per gram on March 6th to 13th|
|Lowest price||Rs. 2,538 per gram on January 2nd.||Rs. 2,714 per gram on February 1st||Rs. 2,871 per gram on March 28th|
Gold Rate Trend in Kakinada in January 2016
- The month of January started off well with an inclining trend.
- Fluctuations took place through the month but the highest rise was Rs. 2,727 per gram.
- Gold traded at Rs. 2,710 per gram towards the end of the month.
- There was an increase of 6.65% in the rates for January.
Gold Rate Trend in Kakinada in February 2016
- Entering February, the prices rose marginally from the end of January.
- The month began at Rs. 2,714 per gram.
- Gold rose moderately through the month marking an overall progress of 9.21%.
Gold Rate Trend in Kakinada in March 2016
- Stable demand allowed gold rates to return to a stable place in March, opening at Rs. 2,994
- Rates were forced to stay constant due to a nationwide jewellers’ strike.
- The highest rate recorded was Rs. 2,991 per gram on March 6th to 13th.
- However, rates declined as the month progressed, closing at Rs. 2,883 per gram.
Gold rate in Kakinada
The rate of gold depends on various factors such as demand and supply, inflation, value of the dollar and much more. The price of gold mainly depends on the quality of gold and the weight of gold. For example, the price for 22 karat gold will not be as same as the price for 24 karat gold as the 24 karat gold is much more purer. Given below is the price of gold for 22 karat and 24 karat in Kakinada.
Gold rate for 22 karat
Weight of 22 karat gold
Price for 22 karat gold
Gold rate for 24 karat
Weight of 24 karat gold
Price for 24 karat gold
Gold investments in Kakinada
There are different ways in which one can invest in gold. Listed below are some of the popular types of gold investments in Kakinada.
- Gold jewelry-Gold jewelry and ornaments is one of the most popular form of gold investments in Kakinada. The price of a piece of gold jewelry includes many other charges such as making charge, wastage charge, weight of gold, and the price of gold. There are numerous shops in Kakinada that deal in gold jewelry.
- Gold bullion- Gold bullion is one of the best ways to invest in gold owing to the low cost and high liquidity.
- Gold trade-Though investing in gold market trade is not the most popular form of gold investments in Kakinada, it is gaining its own set of customers. One can invest in Gold ETFs, gold futures and much more through this investment.
- Also Check: Gold Rate in Andhra Pradesh
Also Check Gold Price in NearBy Cities of Kakinada
|Gold Rate In Hyderabad||Gold Rate In Vijayawada||Gold Rate In Visakhapatnam|
|Gold Rate In Guntur||Gold Rate In Nellore||Gold Rate In Kurnool|
|Gold Rate In Rajahmundry||Gold Rate In Proddatur||Gold Rate In Warangal|
Read more on Gold
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- Top 8 Reasons to Invest in Gold
- Pricing Of Gold Ornaments- How Is It Actually Priced?
- Gold Monetization Scheme