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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 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.
|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.
|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.
|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|
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