Gold Rate In Kakinada

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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 January 2017 to March 2017 (per gram of 24 karat gold)

Factor	January	February	March
1st day	Rs.2,821 per gram	Rs.2,965 per gram	Rs.2,990 per gram
Last day	Rs.2,954 per gram	Rs.3,003 per gram	Rs.2,940 per gram
Highest price	Rs.2,978 per gram on 23rd January	Rs.3,014 per gram on the 25th and 26th of February	Rs.2,994 per gram on the 2nd of March
Lowest price	Rs.2,821 per gram on 1st January	Rs.2,944 per gram on the 4th and 5th of February	Rs.2,900 per gram on 15th of March
Trend	Incline	Incline	Decline
Change	4.71%	1.28%	-1.67%

Gold Rate Trend for Kakinada in January 2017

• On the first day of the new year, gold traded at Rs.2,821 per gram due to low demand for this metal. This was also the lowest at which gold traded for the month.
• There was a marginal rise in the rate of gold over the next few days due to slow demand for this metal.
• At the end of the first week of January the rate of gold rose up to Rs.2,872 per gram and stayed at this rate the next day as well.
• There was an improvement in the rate of gold from the 14th of January onwards due to the harvest festival of Sankranti in Kakinada. Gold was priced at Rs.2,941 per gram on the 14th and 15th of January before continuing to rise.
• There were a number of variations noted in the rate of gold towards the end of January with gold trading between Rs.2,962 per gram and Rs.2,913 per gram between the 21st of January and 27th of January.
• On the last day of the month, gold was priced at Rs.2,954 per gram, with a rise of 4.71% in the price of gold.

Gold Rate Trend for Kakinada in February 2017

• On the first day of the second month of the year, gold was priced at Rs.2,965 per gram and fell the next day to trade at Rs.2,954 per gram.
• However, due to a fall in the demand for this metal, the rate of gold fell to Rs.2,944 per gram on the 4th of February. This rate was also noted on the 5th of February.
• There was a marginal improvement in the rate of gold as the week progressed with this metal trading at Rs.2,964 per gram on the 11th and 12th of February after which prices dropped again.
• The rate of this precious metal rose up again on the 17th of February to trade at Rs.2,988 per gram.
• Gold traded at its highest rate on the 25th and 26th of February wherein it was priced at Rs.3,014 per gram. However, this rate could not be sustained and at the end of the month, gold traded at Rs.3,003 per gram recording a rise of 1.28% in the price.

Gold Rate Trend for Kakinada in March 2017

• Gold traded at a promising rate of Rs.2,990 per gram on the first of the month before rising to the monthly high price of Rs.2,994 per gram.
• However, these rates could not be sustained due to a fall in the demand for this precious metal resulting in gold trading between Rs.2,972 per gram and Rs.2,951 per gram between the 3rd and 9th of March.
• The rate of gold continued to fall with gold trading at Rs.2,900 per gram on the 15th of March which was also the lowest at which gold traded during the month. This could be attributed to the Dutch Elections and the decision of the U.S. Fed Reserve regarding the rate of interest.
• Towards the end of the month, the rate of gold fell, with a few minor variations here and there. On the last day of the month gold traded at Rs.2,940 per gram recording a decline of 1.67% in the price of this precious metal.

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

Factor	October	November	December
1st day	Rs.3,152 per gram	Rs.3,065 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
Trend	Decline	Decline	Decline
Change	-2.69%	-4.01%	-2.48%

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)

Factor	July	August	September
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
Trend	Incline	Decline	Incline
Change	+2.78%	-2.08%	+1.81%

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)

Factor	April	May	June
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
Trend	Increase	Decrease	Rising
Change	+6.04%	-4.98%	+6.33%

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.

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
1 gram	Rs.2,775
10 gram	Rs. 27,750
100 gram	Rs. 2,77,500
1 kg	Rs. 27,75,000

Gold rate for 24 karat

Weight of 24 karat gold	Price for 24 karat gold
1 gram	Rs. 2,969
10 gram	Rs. 29,690
100 gram	Rs. 2,96,900
1 kg	Rs. 29,69,000

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.

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