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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 2020 to March 2020 (per gram of 24 karat gold)
|1st Day||Rs.3,922 per gram||Rs.4,077 per gram||Rs.4,185 per gram|
|Last Day||Rs.4,074 per gram||Rs.4,185 per gram||Rs.4,150 per gram|
|Highest Price||Rs.4,125 per gram on 8 January||Rs.4,305 per gram on 24 February||Rs.4,443 per gram on 6 March|
|Lowest Price||Rs.3,922 per gram on 1 January||Rs.4,030 per gram on 6 February||Rs.4,026 per gram on 19 March|
Quarterly Gold Rate in Kakinada from January 2020 to March 2020:
- The price of gold in Kakinada for the month of January opened at Rs.3,922 per gram and closed at Rs.4,074 for a gram. Gold hit its lowest rate for the month on 1 January. The prices of the yellow metal increased throughout the month due to the political and geopolitical reasons in the global markets. The price of gold hit its highest rate on 8 January 2020. On this day, the price of gold was at Rs.4,125 per gram. The main reason for the increase in prices was the impeachment of the US President. Post this, the prices of gold fluctuated due to the coronavirus outbreak. The trade deal between China and the US and the tensions between the US and the Middle East also ensured that the prices of gold increased in January. Overall, Kakinada saw an increase in gold prices by 3.87%.
- The prices of gold continued to increase in February as well. On 1 February 2020, the price of gold was at Rs.4,077 per gram. In the first week of February, the prices of gold fluctuated. After the Central Bank of China liquidated its funds, investors moved towards riskier products. This was the main reason for the fluctuation in prices. On 6 February 2020, gold hit its lowest rate for the month and was at Rs.4,030 for a gram. The coronavirus outbreak led to gold prices increasing as many investors considered the yellow metal as a safe haven. On 24 February 2020, gold hit its highest rate for the month and was at Rs.4,305 for aa gram. Overall, gold saw an incline of 2.64% in Kakinada for the month.
- Gold prices for the month of March opened at Rs.4,185 per gram and closed at Rs.4,150 per gram. Overall, gold rates declined by 0.83%. In the first week of the month, gold prices increased due to expectations that the interest rates would be cut. Gold hit its highest rate during this period and was at Rs.4,443 on 6 March 2020. However, the prices of gold reduced in the second and third weeks of the month. The coronavirus outbreak was the main reason for the reduction in prices. Gold hit its lowest rate on 19 March 2020 and was at Rs.4,026 per gram. To help the economy during the coronavirus outbreak, the US Federal Reserve introduced several measures. This helped increase the prices of gold during the last week.
Gold Rate Trend in Kakinada for October 2019 to December 2019 (per gram of 24 karat gold)
|1st Day||Rs.3,722 per gram||Rs.3,892 per gram||Rs.3,828 per gram|
|Last Day||Rs.3,857 per gram||Rs.3,828 per gram||Rs.3,925 per gram|
|Highest Price||Rs.3,872 per gram on 26 and 27 October||Rs.3,892 per gram on 1 November||Rs.3,925 per gram on 31 December|
|Lowest Price||Rs.3,722 per gram on 1 October||Rs.3,792 per gram on 28 November||Rs.3,771 per gram on 11 and 13 December|
Gold Rate Trend in Kakinada for July 2019 to September 2019 (per gram of 24 karat gold)
|1st Day||Rs.3,373 per gram||Rs.3,481 per gram||Rs.3,876 per gram|
|Last Day||Rs.3,505 per gram||Rs.3,876 per gram||Rs.3,783 per gram|
|Highest Price||Rs.3,537 per gram on 19 July||Rs.3,913 per gram on 29 August||Rs.3,953 per gram on 4 September|
|Lowest Price||Rs.3,373 per gram on 3 July||Rs.3,481 per gram on 2 August||Rs.3,758 per gram on 19 September|
Gold Rate Trend in Kakinada for April 2019 to June 2019 (per gram of 24 karat gold)
|1st day||Rs.3,266 per gram||Rs.3,281 per gram||Rs.3,255 per gram|
|Last day||Rs.3,297 per gram||Rs.3,255 per gram||Rs.3,486 per gram|
|Highest price||Rs.3,297 per gram on 28-30 April||Rs.3,318 per gram from 16-18 May||Rs.3,533 per gram on 26 and 27 June|
|Lowest price||Rs.3,245 per gram from 20-22 April||Rs.3,213 per gram from 4 May||Rs.3,255 per gram on 1 June|
Gold Rate Trend in Kakinada for January 2019 to March 2019 (per gram of 24 karat gold)
|1st day||Rs.3,172 per gram||Rs.3,326 per gram||Rs.3,305 per gram|
|Last day||Rs.3,321 per gram||Rs.3,333 per gram||Rs.3,200 per gram|
|Highest price||Rs.3,326 per gram on 30 January||Rs.3,373 per gram on 22 February||Rs.3,305 per gram on 1 March|
|Lowest price||Rs.3,172 per gram on 1 and 2 January||Rs.3,316 per gram on 7 February||Rs.3,169 per gram on 29 March|
Gold Rate Trend in Kakinada for January 2019:
- There was a steady rise in gold prices in Kakinada with the metal opening at Rs.3,172 per gram as economic turbulence resulting from the U.S. government shutdown and continuing uncertainty due to Brexit plagued markets.
- Prices rose marginally as local demand was muted despite a weak U.S. dollar, with gold trading at Rs.3,197 per gram on 9 January before surging to Rs.3,229 per gram on 10 January.
- Gold traded at Rs.3,242 per gram on 15 January as a failed Brexit vote and the upcoming Fed Reserve meeting served to bolster bullion interest among investors, with prices steadily increasing as local retail sales picked up.
- Demand was steady but prices remained constant for a few days before climbing to Rs.3,248 per gram on 23 January as global trade concerns raised gold’s profile, with the metal ending the month at Rs.3,291 per gram after a late rally.
Gold Rate Trend in Kakinada for February 2019:
- Interest in bullion declined as equities recovered and the U.S. dollar recouped its losses, with gold rates in Kakinada opening lower at Rs.3,236 per gram before rising marginally to Rs.3,346 per gram on 5 February.
- Despite lingering concerns over economic health, the U.S. dollar rose against global currencies as gold dropped to Rs.3,316 per gram on 7 February, dropping further to Rs.3,305 per gram on 12 February on weak local offtake.
- Prices recovered as the precious metal traded at Rs.3,3250 per gram on 16 February on indications of a halt in interest rate hikes, which boosted local demand as gold climbed to Rs.3,393 per gram on 20 February.
- Demand dipped towards the end of the month, as a steady dollar rate capped local gains and investors also reduced their stakes, resulting in gold prices closing at Rs.3,333 per gram.
Gold Rate Trend in Kakinada for March 2019:
- Positive U.S. jobs data and a resurgent dollar rate buoyed equities as gold prices in Kakinada opened at Rs.3,305 per gram before falling to Rs.3,234 per gram on 6 March as local demand waned.
- Gold recovered briefly at Rs.3,247 per gram on 10 March but plunged to Rs.3,207 per gram on 15 March as fears of a ‘no-deal’ Brexit faded, boosting market sentiment and reducing the metal’s safe-haven appeal.
- Prices continued to drop despite steady jeweller demand, falling to Rs.3,190 per gram on 19 March as local markets also enjoyed a bullish run and investors awaited the Fed’s stance on interest rates.
- A momentary boost saw the yellow metal trade at Rs.3,236 per gram on 24 March on renewed fears of a global economic slowdown but positive Eurozone data saw prices slip to Rs.3,200 per gram on 31 March.
Gold Rate Trend in Kakinada for October 2018 to December 2018 (per gram of 24 karat gold)
|1st day||Rs.3,071 per gram||Rs.3,184 per gram||Rs.3,045 per gram|
|Last day||Rs.3,188 per gram||Rs.3,045 per gram||Rs.3,165 per gram|
|Highest price||Rs.3,211 per gram on 15 October||Rs.3,196 per gram on 6 November||Rs.3,192 per gram on 11 December|
|Lowest price||Rs.3,071 per gram on 1 October||Rs.3,045 per gram on 30 November||Rs.3,045 per gram on 1 December|
Gold Rate Trend in Kakinada for October 2018:
- Despite a weak rupee and static industrial demand gold rates in Kakinada rose during the month, with the metal trading at Rs.3,071 per gram on 1 October.
- Retail demand rose ahead of the festive season as jewellers also increased orders, though overseas interest in the metal remained static due to a steady dollar rate and stable equity markets.
- Fears over the economic impact of the Sino-U.S. trade tariff dispute resulted in increased investor interest in bullion as gold reached a monthly high of Rs.3,211 per gram on 15 October.
- Prices dipped gradually on stagnant overseas demand as the precious metal traded at Rs.3,188 per gram when the month ended on 31 October to record a 3.80% rise in value.
Gold Rate Trend in Kakinada for November 2018:
- Falling retail sales due to poor overseas cues and a weak rupee impacted gold rates in Kakinada in spite of the festive season as industrial demand also took a plunge.
- Gold was priced at Rs.3,184 per gram on 1 November and briefly rose to Rs.3,196 per gram on 6 November on higher sales due to Diwali.
- Demand fell steadily as the month progressed on static industrial demand and declining overseas offtake as investors reduced bullion holdings.
- A strong dollar put off investors despite otherwise favourable market cues as the precious metal was priced at Rs.3,045 per gram on 30 November to record a loss in value of 4.36% over the course of the month.
Gold Rate Trend in Kakinada for December 2018:
- Boosted by rising retail demand and a recovering rupee, gold rates in Kakinada rose steadily after opening at a static Rs.3,045 per gram on 1 December.
- Uncertainty across equity markets over the prolonged impact of the Sino-U.S. trade dispute and Brexit saw investors increase bullion holdings as the metal rose to Rs.3,192 per gram on 11 December.
- Minor fluctuations in local demand due to a strengthening dollar resulted in gold prices falling marginally but retail demand kept prices from slipping too steeply.
- The partial U.S. government shutdown capped gold gains in spite of a rise in local demand as the metal traded at Rs.3,165 per gram on 31 December, recording a rise in value of 3.94% over the course of the month.
Gold Rate Trend in Kakinada for July 2018 to September 2018 (per gram of 24 karat gold)
|1st day||Rs.3,059 per gram||Rs.2,983 per gram||Rs.3,029 per gram|
|Last day||Rs.2,986 per gram||Rs.3,036 per gram||Rs.3,074 per gram|
|Highest price||Rs. 3,071 per gram on 6 July||Rs.3,036 per gram on 31 August||Rs.3,090 per gram on 25 and 26 September|
|Lowest price||Rs.2,986 per gram on 31 July||Rs.2,940 per gram on 16 August||Rs.3,019 per gram on 3 September|
Gold rate trend in Kakinada for July 2018
- A declining trend in the gold price was recorded at the beginning of the month due to reduced demand from local industries and coin makers.
- On 1 July, the yellow metal was trading at Rs.3,059 per gram. The rupee declined in value during this point. However, domestic demand was still on the decline.
- The price of gold in Kakinada hit its peak on 6 July when it traded at Rs.3,071 per gram. Demand for the metal finally picked up. However, the dollar was on the uprise causing the price of gold to dip during the end of the month.
- Gold then declined steadily and reached its lowest point on 31 July. On this day, the metal was trading at Rs.2,986 per gram.
Gold rate trend in Kakinada for August 2018
- August commenced with gold being priced at Rs.2,983 per gram.
- The price of gold varied throughout the month due to a constant fluctuation in demand for the metal.
- On 16 August, the metal was priced at Rs.2,940 per gram.
- Towards the end of the month, the gold price surged due to a long awaited increase in domestic demand.
- On 31 August, the precious metal was priced at Rs.3,036 per gram, the highest price for the month of August.
- Gold for the month recorded an upward trend of 1.77%.
Trend of Gold Rate in Kakinada for April 2018 to June 2018
Rs.3,072 per gram
Rs.3,114 per gram
Rs.3,100 per gram
Rs.3,123 per gram
Rs.3,122 per gram
Rs.3,059 per gram
Rs.3,153 per gram on 19 April
Rs.3,213 per gram on 15 May
Rs.3,127 per gram on 15 June
Rs.3,064 per gram on 6 April
Rs.3,103 per gram on 3 May
Rs.3,054 per gram on 24 June
Overall Monthly Performance
Gold Rate Trend in Kakinada for April 2018:
- Trading began with gold price in Kakinada holding at Rs.3,072 per gram on the 1st with subdued local demand amid the strengthened US dollar index and rising equities.
- Rates dropped to a monthly low of Rs.3,064 per gram on the 6th with investor demand capped by the gaining US greenback.
- Demand, however, picked up over the next couple of weeks with market participants banking on the bullion market amid the losing greenback. This led to gold rate in Kakinada holding at a monthly high of Rs.3,153 per gram on the 19th.
- Trading concluded for the month with gold prices finishing at Rs.3,123 per gram on the 30th with poor but subdued domestic demand from industries, jewellers and retailers.
Gold Rate Trend in Kakinada for May 2018:
- The second month commenced with gold priced at Rs.3,114 per gram on the 1st with poor local demand amid the weak market trend overseas.
- Gold price in Kakinada dropped to a monthly low of Rs.3,103 per gram on the 3rd after the dollar gained against a basket of other major currencies at the global level.
- However, with tensions rising between the US and North Korea, demand for the metal surged during the next couple of weeks and gold was recorded trading at Rs.3,213 per gram on the 15th amid the strong trend overseas.
- The month ended with gold rate in Kakinada holding at Rs.3,122 per gram on the last day, registering an incline of 0.25% in bullion trade during the month.
Gold Rate Trend in Kakinada for June 2018:
- The last month of Q2 2018 began with gold trading at Rs.3,100 per gram with subdued but steady demand from local industries and jewellers amid the poor trends overseas.
- Demand picked up over the next couple of weeks with market participants and investors speculating over possible disagreements at the G7 summit. This led to prices rising to Rs.3,127 per gram on the 15th.
- With the US dollar regaining lost ground against other apex currencies, gold price in Kakinada dropped to Rs.3,054 per gram on the 24th.
- Trading closed for the month with gold rates finishing at Rs.3,059 per gram with steady local demand amid the firm trend overseas.
Gold Rate Trend in Kakinada for January 2018 to March 2018 (per gram of 24 karat gold)
Rs.3,005 per gram
Rs.3,040 per gram
Rs.3,043 per gram
Rs.3,045 per gram
Rs.3,046 per gram
Rs.3,072 per gram
Rs.3,086 per gram on 16 January
Rs.3,103 per gram on 14 February
Rs.3,105 per gram on 24 and 25 March
Rs.3,000 per gram on 4 January
Rs.3,003 per gram on 8 February
Rs.3,030 per gram on 19 March
Gold Rate Trend in Kakinada for January 2018:
- In Kakinada, gold was priced at Rs.3,005 per gram when trading for the new year started.
- This month saw gold prices incline as demand from the local market increased ahead of an improved demand.
- The initial days were rather poor in terms of demand, but that changed as there was plenty of stimulus to help gold catch up against the dollar.
- On the 4th, the precious metal was priced at Rs.3,000 per gram - the month’s lowest rates as demand failed to pick up.
- This improved as days passed and gold rates went up to Rs.3,086 per gram on the 16th - the month’s highest gold rate - due to a failing dollar.
- The month ended with gold prices dropping down gradually to Rs.3,045 per gram.
- Price trends saw a 1.33% incline this month, thanks to slow but steady rise in demand seen during the initial three weeks.
Gold Rate Trend in Kakinada for February 2018:
- February’s trading opened with gold still trading at Rs.3,040 per gram.
- The first week’s demand was poor because of a strong US dollar, which was constantly gaining.
- On the 8th, gold hit its lowest figure for the month - trading at Rs.3,003 per gram before surging to the month’s highest the next week.
- The 14th recorded gold trade at Rs.3,103 per gram as demand from local jewellers peaked while cues remained positive.
- As there was little reason for demand to change amidst a steadily rising dollar, gold rates fluctuated for the remaining days of the month.
- When the month ended, the yellow metal was priced at Rs.3,046 per gram.
Gold Rate Trend in Kakinada for March 2018:
- Like the previous two months, March’s trading also had to undergo constant fluctuations with regards to gold rates.
- The month began with gold trading at Rs.3,043 per gram.
- Gold traded at the Rs.3,000 and above range for the entirety of this month, but dropped to a monthly low of Rs.3,030 per gram on the 19th.
- The subsequent week saw gold prices rise, and the metal traded at Rs.3,105 per gram on the 24th and the 25th.
- On the final day of March, gold was priced at Rs.3,072 per gram.
- Compared to the marginal growth seen in the February, price trends this month rose by 0.95%, thanks to a steady demand.
Gold Rate Trend in Kakinada for October 2017 to December 2017 (per gram of 24 karat gold)
|1st day||Rs.3,040 per gram||Rs.2,974 per gram||Rs.2,982 per gram|
|Last day||Rs.2,996 per gram||Rs.2,996 per gram||Rs.3,015 per gram|
|Highest price||Rs.3,059 per gram on 14 and 15 October||Rs.3,030 per gram 18 to 20 November||Rs.3,015 per gram on 30 and 31 December|
|Lowest price||Rs.2,996 per gram on 31 October||Rs.2,974 per gram on 1 and 6 November||Rs.2,906 per gram on 13 December|
Gold Rate Trend in Kakinada for October 2017:
- The month began with the yellow metal trading at Rs.3,040 per gram on the 1st amid firm trend overseas.
- However, possibilities of an interest rate hike by the US Federal Reserve resulted in the dollar rising against a basket of other currencies. This led to gold rate in Kakinada dropping to Rs.2,997 per gram on the 6th.
- Domestic demand from jewellers and retailers surged with the festive season around the corner. This led to gold price in Kakinada rising to Rs.3,027 per gram on the 9th.
- Gold rates hit their highest recorded monthly figure of Rs.3,059 per gram on the 14th with strong local demand amid the positive global trends.
- On the 20th, with the US dollar recovering from the previous days’ losses, bullion rates plunged to Rs.3,026 per gram.
- The strong US dollar index coupled with firmer equities brought about by speculating on the possible Fed rate hike during the quarter led to gold rate in Kakinada closing at Rs.2,996 per gram on the last day. This was also the lowest recorded monthly figure in the city.
- Kakinada witnessed gold prices declining by 1.44% amid the poor global cues during the month.
Gold Rate Trend in Kakinada for November 2017:
- The month opened with the precious metal priced at Rs.2,974 per gram on the 1st with relatively lower demand for the metal from the previous week.
- The next few days saw gold rates remaining unchanged with the US dollar performing well amid stronger equities. Gold price in Kakinada were recorded holding at Rs.2,974 per gram until the 6th of November.
- With the US-North Korean diplomatic relations worsening, safe-haven demand for the metal surged during the month. The yellow metal was priced at Rs.3,015 per gram amid strong demand.
- Thanks to an increased demand from local jewellers, retailers and industries amid the strong trends overseas, god rate in Kakinada surged to Rs.3,030 per gram on the 19th.
- However, prices plunged to Rs.3,009 per gram on the 28th after the promising US tax reform plan produced by President Trump at the US Senate resulted in the US dollar gaining against a basket of other emerging currencies.
- The month concluded with the precious metal prices holding at Rs.2,998 per gram due to reduced domestic demand for the metal amid poor trends overseas.
- Gold rates saw an incline of 0.73% during the course of the month.
Gold Rate Trend in Kakinada for December 2017:
- The final month of the quarter began with the bullion trading at Rs.2,982 per gram amid poor trends overseas.
- Prices plummeted to Rs.2,968 per gram on the 5th with the dollar gaining after the approval of the US tax reform bill.
- The strong US dollar index coupled with firmer equities market resulted in gold rate in Kakinada dropping significantly over the next few days.
- The yellow metal was priced at Rs.2,908 per gram on the 12th before hitting the lowest recorded monthly figure of Rs.2,906 per gram on the 13th ahead of the Federal Reserve’s monetary policy meeting.
- However, with Fed rate hike proved to have a negative impact on the equities and pushed the US dollar lower. This led to gold rates rebounding to Rs.2,933 per gram on the 19th.
- Gold price in Kakinada surged to Rs.2,956 per gram on the 23rd after the dollar lost against other apex currencies with investors mulled over the ultimate result of the tax system overhaul on the US economic growth.
- With the Asian stocks failing in the world markets, demand for safe-haven assets such as gold surged. This led to bullion rates surging to Rs.3,015 per gram on the last day.
- Kakinada registered an incline of 1.10% in bullion trade during the course of the month.
Gold Rate Trend in Kakinada for July 2017 to September 2017 (per gram of 24 karat gold)
|1st day||Rs.2,950 per gram||Rs.2,931 per gram||Rs.2,997 per gram|
|Last day||Rs.2,920 per gram||Rs.2,965 per gram||Rs.3,040 per gram|
|Highest price||Rs.2,950 per gram on 1 July||Rs.2,980 per gram on 29 August||Rs.3,100 per gram on 8 September|
|Lowest price||Rs.2,800 per gram on 14 July||Rs.2,900 per gram from 5 to 8 August||Rs.2,997 per gram on 1 September|
Gold Rate Trend in Kakinada for July 2017:
- Gold prices this month were largely impacted by the official introduction of the Goods and Services Tax bill.
- The month of July began on a strong note with the yellow metal trading at Rs.2,950 per gram.
- Rates recorded on the 1st was the highest for the month - which serves as a perfect indication of how the precious metal throughout July.
- The newly approved 3% GST on gold saw demand for the metal drop significantly. This was then compounded by weak cues globally.
- By the 9th, gold rates fell to as low as Rs.2,869 per gram and - going by the signs - prices would fall considerably over the next few days.
- Strong global cues along with a relatively improved demand saw gold rates improve over the second half of this month.
- There were plenty of changes to be seen over the course of the final week.
- Gold rates ended at Rs.2,920 per gram with a 1.01% decline in rate trends seen over the course of the month.
Gold Rate Trend in Kakinada for August 2017:
- The month of August helped gold trading get back onto the positive side as the Indian bullion industry shook itself off the GST stronghold.
- On the 1st of August, gold was priced at Rs.2,931 per gram - a further Rs.20 improvement from the previous day’s rates.
- But, with local demand remaining low amidst a strong US dollar, gold rates went down to as low as Rs.2,900 per gram on the 5th and continuing on till the 8th of the month.
- The US economy’s fall from grace led to the yellow metal’s rates improving. Gold traded at Rs.2,944 per gram on the 10th and saw further improvement to trade at Rs.2,977 per gram on the 12th.
- Rates picked up over the final stretch of August to record the highest gold rate of Rs.2,980 per gram on the 28th.
- An improved demand aided by a weak US stock market saw gold rate trends increase by 1.16% for this month.
Gold Rate Trend in Kakinada for September 2017:
- During September, gold rates improved further as a result of various Indian and international factors.
- On the first of the month, gold was priced at Rs.2,997 per gram.
- Prices rocketed to Rs.3,100 per gram on the 8th as the US - North Korea conflict pushed safe-haven purchases to a whole new level.
- With the US stock markets recovering from the initial shock, gold rates climbed down to remain in the sub-Rs.3,040 per gram range for much of the month.
- When the month came to a close, gold prices were holding at Rs.3,030 per gram.
- There was a 1.43% increase in price trends which was brought about by a major geopolitical concerns ruling the world market.
Gold Rate Trend in Kakinada for April 2017 to June 2017 (per gram of 24 karat gold)
|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 & 16 April||Rs.2,984 per gram on 1 May||Rs.3,030 per gram on 7 June|
|Lowest price||Rs.2,954 per gram on 8 & 9 April||Rs.2,888 per gram on 15 May||Rs.2,942 per gram on 20 June|
Gold rate trend in Kakinada for April 2017
- The gold rates in Kakinada fluctuated in the month of April, opening at Rs.2,956 per gram on 1 April, the prices rose to Rs.2,983 per gram on 5 April showing an incline in the demand.
- In spite of a weak U.S. dollar rate, the gold prices fell to Rs.2,954 per gram for 8,9, and 10 April due to the reducing demand from local and international markets.
- On 12 April, the gold rates jumped to Rs.3,010 per gram due to the rise in the demand for safe-haven assets from investors. The fluctuating stock market turned out to be the biggest factor for the incline in the demand for gold.
- The gold prices between 12 and 24 April were on the higher side and reached the maximum of Rs.3,040 per gram on 15 and 16 April.
- Being nearly steady for about two weeks, the gold prices dipped to Rs.2,998 per gram on 25 April due to the muted demand from jewellers, retailers, and industries.
- The 2017 French presidential election boosted the stock market which reduced the gold rate to Rs.2,964 per gram on 26 April.
- With a slight increase in the prices, April ended with a 0.94% incline in the gold prices.
Gold rate trend in Kakinada for May 2017
- The yellow metal was priced at Rs.2,984 per gram on 1 May based on the subdued demand for gold from local and international markets.
- The 2017 French presidential election boosted the stock market leading to a further decline in the fluctuating demand for gold to Rs.2,899 per gram on 6 and 7 May.
- The subdued demand from the local market further reduced the gold rate to Rs.2,889 per gram on 11 May.
- The gold rates remained more or less low until the yellow metal’s demand increased in the Asian markets and the fluctuating U.S. dollar rate added to the incline in demand to Rs.2,956 per gram on 18 May.
- The gold rate further increased to Rs.2,979 per gram on 23 May due to an increase in demand from the local markets.
- Though the gold rates increased to Rs.2,984 per gram on 30 May because of a weak market, the diminishing demand for gold reduced the rates to Rs.2,963 per gram on 31 May.
- For the month of May, the demand fluctuated throughout the month and led to a decline of - 0.70% in the gold rates.
Gold rate trend in Kakinada for June 2017
- Trading at Rs.2,985 per gram on 1 June, gold rates in Kakinada fluctuated throughout the month.
- The uncertain market condition and investor’s rising demand for the precious metal increased the gold rates to Rs.3,030 per gram on 7 June.
- In spite of a fluctuating U.S. dollar rate, gold’s poor demand from local and international markets reduced the rates to Rs.2,981 per gram on 10 and 11 June.
- A gradual decline in the demand reduced the gold rates to Rs.2940 on 20 June.
- The demand from international industries increased which shifted the gold rates to Rs.2977 on 26 June.
- The fluctuating demand for gold closed the rates at Rs.2,967 per gram on 30 June leading to a decline of – 60% in the value.
Gold Rate Trend in Kakinada for January 2017 to March 2017 (per gram of 24 karat gold)
|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|
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 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
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