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Gold Price In Karimnagar
Karimnagar, located in Telangana state, is the capital of the Karimnagar district. Situated on the banks of the Godavari river, Karimnagar has long been known as an industrial centre for agriculture and granite-based industry.
Being associated with industry since medieval times, Karimnagar residents have had a long-standing fascination for gold, using it for ornamentation as well as a way to secure their financial future. Gold jewellery and coins are quite popular here, with sales fuelled by the local industrialists. An ethnically diverse region, festivals also form a big part of community life and are an occasion to make gold purchases.
Gold Rate Trend in Karimnagar for April 2018 to June 2018 (per gram of 24 karat gold)
|1st day||Rs.3,072 per gram||Rs.3,114 per gram||Rs.3,100 per gram|
|Last day||Rs.3,123 per gram||Rs.3,122 per gram||Rs.3,054 per gram|
|Highest price||Rs.3,153 per gram on 19 April||Rs.3,147 per gram on 14 May||Rs.3,119 per gram on 9 & 10 June|
|Lowest price||Rs.3,064 per gram on 6 April||Rs.3,103 per gram on 2 May||Rs.3,054 per gram on 30 June|
Gold Rate Trend in Karimnagar for April 2018
- Gold was priced at Rs.3,072 per gram on 1 April in Karimnagar as demand for the precious metal was strong due to increased local demand.
- A weak dollar rate led to investors looking to safe-haven assets like gold, which pushed prices higher across local markets.
- The resumption of geopolitical tensions between the United States and Iran led to equity markets and the dollar falling slightly, but local prices were unaffected.
- Fears of a trade war between China and the U.S. continued to affect currencies, though the dollar showed signs of a recovery ahead the planned summit with North Korea.
- Gold prices rose to their highest for the month, trading at Rs.3,153 per gram on 19 April, after which demand began to drop.
- A recovering dollar and flagging local demand led to gold ending the month at Rs.3,123 per gram on 30 April.
Gold Rate Trend in Karimnagar for May 2018
- A relatively stable U.S. Dollar and the possibility of an interest rate hike resulted in gold making few gains during the month.
- Gold opened the month priced at Rs.3,114 per gram as overseas demand for the metal was on the decline.
- Markets were buoyed by an apparent resolution to the trade tariff dispute between the U.S. and China, which led to a further drop in demand for bullion.
- Profit taking and declining demand from Asian markets influenced local orders as well, as jewellers reduced offtake.
- Gold rose to a monthly high of Rs.3,147 per gram on 14 May after Trump announced the summit with North Korea had been cancelled, sending markets and the dollar crashing.
- Markets regularised after the announcement that the summit was to be held, which affected demand for bullion.
- Prices did not see much fluctuation as the month grew to an end, with the metal priced at Rs.3,122 per gram on 31 May.
Gold Rate Trend in Karimnagar for June 2018
- There was a slight drop in the price of gold in June in Karimnagar, as a buoyant dollar and recovering equity markets led to lower demand for the precious metal.
- The yellow metal opened at Rs.3,100 per gram amidst a revival of the dollar ahead of the summit between the North Korean and American leaders.
- Renewed apprehensions of a trade war due to retaliatory trade tariffs by China and the United States led to an increase in demand for safe-haven assets, though investors stayed away from gold.
- The possibility of an interest rate hike by the Federal Reserve led to a rally by the dollar, which was already stable after the success of the U.S.-North Korea summit.
- Prices continued to trade more or less at a constant due to static demand from industry as well as the retail sector.
- A sluggish growth rate led to gold ending the month priced at Rs.3,054 per gram on 30 June.