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Gold Rate In Kannur
Kannur is a district situated in ‘God’s own country’ Kerala. Earlier known as Cannanore, it is the largest city in the North Malabar region. It houses Asia’s largest and the world’s third largest Naval academy. The place is also well known for its obsession with gold considering it's a part of a city which also is one of the biggest consumers of gold in India. Purchasing and wearing gold has always been a part of culture and tradition in Kerala. People in Kannur view gold as an investment and not just a commodity. Gold rate in Kannur changes almost everyday even though if it is by a mere margin.
Gold Price in Kannur
Gold rate is based on several factors including the quality of gold. The price for 22karat gold is different from the price for 24karat gold. 22 karat and 24 karat gold is the most popular type of gold consumed. Given below is the pricing of gold in Kannur for different qualities of gold.
- Gold rate for 24 karat in Kannur - 24 Karat gold is considered to be the purest form of gold used in ornaments. The price of 24 Karat gold in Kannur as of March 1st 2016 is Rs.2,962 per one gram of gold. The gold rate keeps fluctuating everyday.
- Gold rate for 22 karat in Kannur - Even though 22 Karat gold is not as pure as 24 Karat gold, it is still just as valuable. Most of the gold ornaments are made with 22 karat gold. The gold rate for 22 Karat gold as of March 1st 2016 in Kannur is Rs. 2,765.
Given below is the price of gold for different weights for both 22 karat and 24 karat in Kannur as of March 1st 2016.
Gold rate for 22 karat gold
Gold rate for 24 karat gold
Rs. 27, 650
Rs. 29 , 620
Rs. 2, 96, 200
Rs. 2, 962, 000
Gold Rate Trend in Kannur for October 2016 to December 2016 (per gram of 24 karat gold)
|1st day||Rs.3,115 per gram||Rs.3,055 per gram||Rs.2,905 per gram|
|Last day||Rs.3,055 per gram||Rs.2,945 per gram||Rs.2,815 per gram|
|Highest price||Rs.3,115 per gram on 1st & 2nd October||Rs.3,135 per gram on 9th November||Rs.2,905 per gram on 1st & 2nd December|
|Lowest price||Rs.3,021 per gram on 17th October||Rs.2,930 per gram on 25th November||Rs.2,768 per gram on 22nd & 23rd December|
Gold Rate Trend for Kannur in October 2016
- Gold prices in Kannur were constant as the week began as industrial demand was strong.
- Gold traded at Rs.3,115 per gram on 1st October but prices fell in the subsequent weeks due to reduced demand from the retail sector.
- Overseas demand was poor as markets stabilised and the U.S. Dollar rose on the possibility of a U.S. Federal Reserve rate hike.
- Prices fell to their lowest for the month during the middle of the month due to a sharp decline in industrial demand due to falling exports.
- Prices rose marginally towards the end of the month, stabilising at Rs.3,050 per gram on 26th October.
- Gold ended the month trading at Rs.3,055 per gram on 31st October, with prices declining by 1.92% overall.
Gold Rate Trend for Kannur in November 2016
- Gold prices fell sharply during the month after an initial period of gains due to the U.S. election results and the demonetisation policy.
- Gold traded at Rs.3,055 per gram on 1st November, with prices rising throughout the first week due to uncertainty over the U.S. presidential election results.
- Prices reached a high of Rs.3,110 per gram on 4th November and stayed constant for a few days.
- The sudden announcement of the demonetisation of large currency notes led to a market crash in India, which boosted demand for gold and pushed prices to Rs.3,135 per gram on 9th November.
- Prices began to fall as markets stabilised, with the currency shortage also contributing to a decrease in demand for gold.
- Gold prices continued to drop as the month progressed, resulting in gold trading at Rs. 2,945 per gram on 30th November, registering a loss of 3.60% overall.
Gold Rate Trend for Kannur in December 2016
- Gold prices continued their downward spiral as stable markets and weakening demand resulted in a decrease in price.
- Gold was priced at Rs.2,905 per gram on 1st December, with the price falling to Rs.2,900 per gram in the subsequent days on poor demand.
- The continued currency shortage impacted gold sales during the festive season in India, which kept prices low.
- International markets were gaining on increased spending during the holiday season, which also boosted the U.S. Dollar and other global currencies, leading to reduced demand for gold.
- Prices fell to a low of Rs.2,768 per gram during the Christmas week, as gold plunged on low demand.
- A slight increase in demand led to prices recovering, with gold trading at Rs.2,815 per gram on 31st December.
Gold Rate Trend in Kannur for July 2016 to September 2016 (per gram of 24 karat gold)
|1st day||Rs.3,000 per gram||Rs.3,092 per gram||Rs.3,130 per gram|
|Last day||Rs.3,092 per gram||Rs.3,130 per gram||Rs.3,135 per gram|
|Highest price||Rs.3,167 per gram on 16th and 17th July||Rs.3,140 per gram from 26th-30th August||Rs.3,160 per gram on 7th, 25th and 26th September|
|Lowest price||Rs.3,000 per gram on 1st July||Rs.3,092 per gram on 1st August||Rs.3,120 per gram on 2nd and 19th September|
|Trend||Increase in price||Increase in price||Increase in price|
|Change||+3.66% increase||+1.22% increase||+0.15% increase|
Gold Rate Trend for Kannur in July 2016
- Gold prices started the week low but rose sharply on strong demand and international cues, but stabilised as the week continued.
- Gold traded at Rs.3,055 per gram as the second week began, with prices being stable on steady demand.
- Prices appreciated as domestic demand increased slightly and markets suffered a slight slump.
- Strong performances by currencies led to a resurgence in the markets and gold demand dipped in the third week, trading at Rs.3.060 per gram for most of the week.
- Prices recovered marginally to close the month at Rs.3,092 per gram, a slight increase overall.
Gold Rate Trend for Kannur in August 2016
- Prices were stable at the start of the week, with gold trading at Rs.3,112 per gram due to sustained demand.
- A dip in demand and weak international cues led to a lower prices, with gold trading at Rs.3,095 per gram for the week.
- Fluctuations on the currency markets led to a rise in bullion demand, driving prices higher as investors favoured gold over stocks.
Gold Rate Trend in Kannur for April 2016 to June 2016 (per gram of 24 karat gold)
|1st Day||Rs. 2,872 per gram||Rs. 3,025 per gram||Rs.2,895 per gram|
|Last Day||Rs. 3,025 per gram||Rs. 2,895 per gram||Rs.2,990 per gram|
|Highest Price||Rs. 3,025 per gram on April 30.||Rs. 3,025 per gram May 1st to 3rd||Rs.3,050 per gram from 25th to 28th June|
|Lowest Price||Rs. 2,852 per gram on April 4.||Rs. 2,885 per gram on May 30th||Rs.2,895 per gram from 1st June to 8th June|
Gold Rate Trend of Kannur in April 2016
- Gold started the month of April trading at Rs. 2,872 per gram.
- By April 4th, rates dropped to Rs. 2,852 per gram recorded as the lowest for the month.
- Prices were on an incline ending the month at Rs. 3,025 per gram.
Gold Rate Trend of Kannur in May 2016
- Going into the month of May, gold rates stayed steady at Rs. 3,025 per gram.
- With the growing chorus of a Fed rate hike, rates started dropping.
- By the end of the month, the decline stood at 4.27% ending May at Rs. 2,690 per gram.
Gold Rate Trend of Kannur in June 2016
- Firming overseas trends in addition to increase in industrial demand ensured that gold rates remained stable for many days at a stretch during June.
- Despite marginal declines on certain days of the month, the value of the precious metal increased and gained consistency as the month progressed, and the highest rate in June was recorded between the 25th and 28th when prices soared to Rs.3,050 per gram.
- The overall increase in prices between the first and last day of the month was Rs.95.
|1st Day||Rs. 2,507 per gram||Rs. 2,685 per gram||Rs. 2,872 per gram|
|Last Day||Rs. 2,685 per gram||Rs. 2,872 per gram||Rs. 2,872 per gram|
|Highest Price||Rs. 2,688 per gram on January 27th and 28th||Rs. 2,872 per gram from February 26th to 29th||Rs. 2,907 per gram on March 8th|
|Lowest Price||Rs. 2,507 on January 1st - 3rd||Rs. 2685 per gram on February 1st||Rs. 2,824 per gram on March 24th|
|Change||+ 7.10 %||+6.96%||0%|
Gold Rate Trend of Kannur in January 2016
- Gold rates were seen trading low at Rs. 2,507 at the start of January.
- Fluctuations took place, but the prices remained within a small range of change.
- Rs. 2,688 was the highest price recorded on January 27th which later fell to Rs. 2685.
- The increase in rates by the end of the month marked a 7.10% incline.
Gold Rate Trend of Kannur in February 2016
- On the first day of the month, gold rates traded at Rs. 2,685 per gram.
- Prices were seen inclining through the month. The rates climbed to Rs. 2,872 by the 26th and remained the same till the end of the month.
- The month ended with a 6.96% increase.
Gold Rate Trend of Kannur in March 2016
- Gold rates continued to be the same from the end of February.
- Prices remained relatively constant.
- The highest price was recorded on March 24th when gold traded at Rs. 2,824.
- After all the fluctuations, the prices fell back to the same rate as the beginning of the month marking a 0% change for March.
Gold Investments In Kannur
Gold is considered to be more of an investment than a commodity in Kannur. Listed below are some of the most popular type of investments in gold.
- Bullion - Gold bullion bars and coins are usually prefered by individuals who wish to invest a lot of money in gold. People who invest in bullion, usually prefer to start with gold coins rather than gold bars as it is relatively less expensive than gold bars.
- Jewelry - Jewelry is probably the most popular form of gold investment in Kannur. Gold jewelry is not only seen as an investment in Kannur but it is also viewed as a symbol of status. The rate of gold jewelry is not only based on the rate of gold but also includes other charges such as making charges, wastage charges, etc and hence, will be more expensive.
- Market Trade - Though Jewelry is the most popular form of gold investment in Kannur, other investments such as ETFs has gained its own set of followers over the last couple of years. The attractive returns has pushed many people into investing in ETFs over jewelery.
- Also check: Gold Rate In Kerala
Also Check Gold Price in NearBy Cities of Kannur
|Gold Rate In Malappuram||Gold Rate In Thrissur||Gold Rate In Trivandrum|
|Gold Rate In Kochi||Gold Rate In Kozhikode||Gold Rate In Mangalore|
|Also Know: Silver Rate In Kannur|
Read more on Gold
- Auspicious Days to Buy Gold in 2016
- Buying Gold on Onam
- Importance of Gold in Kerala
- How are Gold Rates Determined?
- Difference Between Spot and Futures Gold Rates
News About Gold Rate in Kannur
Gold Prices on the Rise for a Fourth Day in Succession
Gold prices recorded an increase for the fourth consecutive session on Saturday as prices rose by Rs.150 to Rs.29,500 per 10 grams. The bullion market has been performing well in recent times thanks to positive cues from international markets in addition to sustained purchasing from jewellers.
Silver has also been performing well in recent weeks as prices hit the 41,000-mark per kilogram again, following an increase of Rs.215 to Rs.41,065 per kilogram thanks to increased offtake by coin makers and industrial units. Internationally, gold prices increased by 0.30% to $1,273.30 per ounce. Silver prices, on the other hand, increased by 0.29% to $17.28 per ounce.
13th June 2016
Gold prices gained in Asia
Gold prices witnessed a hike in Asia on Thursday much ahead of price data from China. Gold for August Delivery rose by 0.30% to $1,266.15 troy an ounce on the Comex division of the New York Mercantile Exchange. Silver futures also gained by 0.91%% to $17.140 a troy ounce for July delivery. In China, the CPI data for May is expected to show a decline of 0.2% month by month for a pace of 2.3% gain year on year, while producer prices go down by 3.3% year on year.
9th June 2016