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Gold Rate In Kozhikode
Kozhikode which was earlier called Callicut, and where Vasco Da Gama had landed first in India, is rich in culture and heritage with the strong Keralite influence as well as European inspirations to this beautiful city in Southern India. this beautiful city is home to the natives who are absolutely mesmerized by the thought of gold in their customs as well as daily life. Gold is considered a very strong indicator of standing in the society. For example when it comes to weddings and marriages, a father will define his social standing to others by gifting gold jewellery to his daughter for the wedding that is heavier and higher in quantity than his competition gifted. This is a typical trend that has been continued or ages and hence is difficult to look away from. Let us take a closer look at the gold rates in Kozhikode.
Current Gold Rates In Kozhikode
The current gold rates in Kozhikode, are influenced by both gold prices in India and globally and follow similar trends. As of March, 2016, price of the yellow metal for 22K gold is at Rs. 2,765 while pure gold which is 24K, is at Rs. 2962. This is against the gold prices in India which is only around Rs. 4 to Rs. 10 lesser than the prices in Kozhikode. Hence, the rates are only slightly higher in this city but follows similar price trends. It is important to consider the gold rates in the city against the rates in the nearby cities to get a good deal.
Gold Rate Trend in Kozhikode for January 2017 to March 2017 (per gram of 24 karat gold)
|1st day||Rs.2,815 per gram||Rs.2,945 per gram||Rs.2,960 per gram|
|Last day||Rs.2,945 per gram||Rs.2,960 per gram||Rs.2,920 per gram|
|Highest price||Rs.2,970 per gram from 23rd to 26th||Rs.2,960 per gram from 18th to 28th||Rs.2,960 per gram from 1st to 13th March|
|Lowest price||Rs.2,815 per gram from 1st to 3rd||Rs.2,945 per gram from 1st to 17th||Rs.2,890 per gram from 14th to 21st March|
Gold Rate Trend in Kozhikode for January 2017:
- Kozhikode, like its neighbouring city Kochi, saw some good gold trends for the month of January.
- On the 1st of January 2017, gold was trading at Rs.2,815 per gram.
- The month was extremely good for trading as more cash was available in the economy after a debacle of a Q4 in 2016.
- Rates remained unchanged till the 3rd, before going up to Rs.2,845 per gram on 4th and then to Rs.2,860 per gram on 5th as demand increased.
- As there was no change in local demand, gold prices continued at Rs.2,960 per gram till the 10th of the month.
- Prices of gold went up to Rs.2,880 per gram on 11th and increased over the next few days to close at Rs.2,950 per gram when the 20th came to an end.
- Gold hit its highest rate for the entire month on 23rd January, when it was trading at Rs.2,970 per gram.
- Price trends in January saw inclined at a rate of 4.61% during the first month of January.
Gold Rate Trend in Kozhikode for February 2017:
- February again was a good month for gold trading despite the fact that demand went down slightly when compared to January.
- On 1st February, gold was priced at Rs.2,945 per gram.
- As there was a sustained demand in the domestic market, the US Fed rate hike didn’t influence gold rates in the city by much.
- Bullion trading prices stood at Rs.2,945 per gram for the next 16 days, i.e., till the end of the 17th, thanks to enough demand from domestic traders, which help stave off international pressure.
- On 18th, gold rates went up to Rs.2,960 per gram, as demand went up slightly.
- For the next 10 days, till the end of the month, gold prices stood at Rs.2,960 per gram as demand was holding steady.
- This rate, as seen from 18th to the 28th, was the highest gold rate for the entire month.
- Gold price trends in Kozhikode changed at a rate of 0.50% for the month of February.
Gold Rate Trend in Kozhikode for March 2017:
- Even though the previous two months witnessed some good gold trading, March turned out to be a bit of a bad period as demand took a hit.
- During this month, the US Federal Reserve increased the interest rate for the second month in a row, which caused gold prices to plummet.
- On the 1st of March, gold was priced at Rs.2,960 per gram and continued at the same rate till the 12th of the month.
- This rate happened to be the highest gold price for the month as demand went down over the next few days.
- After a relatively positive trading period, gold prices went down to Rs.2,890 per gram on 13th as US dollar strengthened significantly.
- Gold rate seen on the 13th was the lowest for the month and also the entire quarter.
- By the end of the month, however, gold prices rallied to finish at Rs.2,920 per gram.
- Gold price trends changed at a rate of -1.35% in March due to the lack of demand in the market, which was brought about by the US Fed rate hike.
Gold Rate Trend in Kozhikode from October to December 2016 (rates per gram for 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 from 1st to 4th||Rs.3,135 per gram on 9th||Rs.2,905 per gram on 1st and 2nd|
|Lowest price||Rs.3,020 per gram from 8th to 11th||Rs.2,930 per gram on 25th||Rs.2,745 per gram on 16th|
Gold Rate Trend in Kozhikode for October 2016
- October 1st saw the highest gold trading prices in Kozhikode which stood at Rs.3,115 per gram.
- However, prices fell over the next few days as they went down to Rs.3,020 on 9th.
- The subsequent 10-day period saw gold prices pick up slightly as global demands seemed to increase.
- Rates went up from Rs.3,020 per gram on 10th and to hit Rs.3,040 per gram by the 20th.
- The next 10 days saw gold prices fluctuate a little bit before ending the month with trading price of Rs.3,055 per gram.
Gold Rate Trend in Kozhikode for November 2016
- Gold rate trend in Kozhikode followed a similar pattern to that of Kochi and the rest of the country.
- During this month, when demonetisation was introduced, gold prices seemed to take a massive hit.
- When November began, gold was trading at Rs.3,055 per gram and later increased to Rs.3,110 by the 6th.
- Though prices slumped to Rs.3,080 per gram around the 8th, they rose significantly to Rs.3,135 per gram as demands surged by a huge margin.
- The price surge was only temporary as gold sales plummeted due to the lack of money in the market.
- When 20th approached, gold prices had gone down to Rs.3,070 per gram and went down furthermore during the coming days.
- On 25th, prices went down to Rs.2,930 per gram, which was the lowest price for the entire month.
- Prices gained slightly towards the end of the month to close at Rs.2,945 per gram.
- Overall, gold rate trend change by a heavy margin of -3.60% in November.
Gold Rate Trend in Kozhikode for December 2016
- The last month of the quarter began with gold trading at Rs.2,905 per gram - making it the highest gold price for the month.
- Price decrease was apparent from the first week on as it was down to Rs.2,840 per gram by the 9th.
- Prices were further down to Rs.2,810 per gram by the 10th and went down a little more to hit the lowest rate for the month - Rs.2,745 per gram - on the 16th.
- From then on, however, prices seem to gain albeit at a marginal rate to hit Rs.2,770 per gram by the 20th.
- When the last week of 2016 arrived, prices had recovered considerably due to Christmas and New Year to end the year at Rs.2,815 per gram.
- December saw gold price trends in Kozhikode by -3.09%.
Gold Rate Trend in Kozhikode 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|
Gold Rate Trend in Kozhikode for July 2016
- Gold traded at Rs.3,000 per gram at the start of the month and steadily climbed to Rs.3,030 by 4th July on strong cues from the international market.
- Gold sold at Rs.3,065 per gram on 6th July but prices fell as the week progressed as demand dropped domestically.
- Prices were more or less stable the following week, with gold trading at Rs.3,035 per gram on 14th July before rising to the month’s high of Rs.3,167 on 16th-17th July.
- Prices slipped as demand dropped due to a resurgent market, with gold trading at Rs.3,060 per gram on 25th July.
- Prices inched higher to close at Rs.3,092 at the end of the month.
Gold Rate Trend in Kozhikode for August 2016
- Gold was priced at Rs.3,092 per gram, rising to Rs.3,132 per gram as the week progressed.
- Prices dipped slightly as demand slid following a strong market run overseas which impacted domestic demand.
- Gold traded at Rs.3,125 per gram on 14th August with prices reaching a high of Rs.3,135 per gram for the rest of the week.
- A flagging Dollar led to an increase in demand for gold, with prices touching Rs.3,140 per gram on 24th August.
- Prices settled to Rs.3,130 on the last day of August due to muted demand.
Gold Rate Trend in Kozhikode for September 2016
- Gold traded at Rs.3,130 per gram at the start of the month, with the price falling slightly at the end of the week.
- The price recovered as demand rose, with gold trading at Rs.3,160 per gram on 7th September before stabilising at Rs.3,145 per gram on 9th September.
- Prices remained stable for the week at Rs.3,145 per gram as demand was stagnant.
- The price fell as markets strengthened in the fourth week, with prices dropping to Rs.3,120 per gram on 19th September before rising to Rs.3,160 per gram as domestic demand rose.
- Prices fell to Rs.3,135 per gram as the month ended.
Gold Rate Trend in Kozhikode 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|
|Last day||Rs. 3,025 per gram||Rs. 2,895 per gram||Rs.2,990|
|Highest price||Rs. 3,025 per gram on 30 April.||Rs. 3,035 on 2 May.||Rs.3,050 per gram on 25th to28th June|
|Lowest price||Rs. 2,852 per gram on 4 April.||Rs. 2,885 per gram on 30 May.||Rs.2,895 per gram on 1st to 8th June|
Gold Rate Trend in Kozhikode in April 2016
- A rise in the price of gold was noticed in the month of April.
- A rise of 5.32% was noted with the highest being Rs. 3,025 per gram on the last day of the month.
- There were quite a few fluctuations in the rate of gold during the month.
Gold Rate Trend in Kozhikode in May 2016
- During the month of May, a decline was witnessed in the price of gold.
- This may be attributed to the expectations of rise in interest rates by the U.S.
- A decline of 4.25% was noted in the price of gold from the beginning to the end of the month.
Gold Rate Trend of Kozhikode in June 2016
- Gold traded low at Rs.2,895 at the start of the month as the global market dipped.
- Prices stayed steady through the month of June with a slight incline of 3.28%.
- The highest recorded rate was Rs.3,050 by 25th June as there was a renewed offtake in the domestic market.
|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. 2,685 per gram on 31 January.||Rs. 2,872 per gram on 29 February.||Rs. 2,907 per gram on 9 March.|
|Lowest price||Rs. 2,507 per gram on 1 January.||Rs. 2,685 per gram on 1 February.||Rs. 2,822 per gram on 29 March.|
Gold Rate Trend in Kozhikode in January 2016
- Gold traded at Rs. 2,507 per gram at the beginning of the month and increased as the month progressed.
- Although there were minor fluctuations, the opening and closing rates did not have a large difference between them.
- A rise in the prices was the trend observed.
Gold Rate Trend in Kozhikode in February 2016
- A rise of 6.96% was witnessed in the rate of gold during the month of February.
- Wedding season and other necessities for gold could be the reason for the rise.
- Gold traded at Rs. 2,872 per gram on 29th February, which was the highest for the month.
Gold Rate Trend in Kozhikode in March 2016
- During the month of March,there were very minor fluctuations in the rate of gold.
- The highest was observed on 29th of March wherein the rate was Rs. 2,907 per gram.
- There was however no change at the beginning and the end of the month as rates were the same on the 1st of March and 31st of March.
Gold Investment Opportunities In Kozhikode
Kozhikode with its love for gold, both for festivities and as well as form of storing wealth is considered quite popular here. The amount of gold a family holds boils down to the fact that it is straightforward indicator of how prosperous a family is. But besides of holding gold as wealth here are some of the important factors that may give one a clear idea about what the opportunities of investment for gold in Kozhikode are:
Physical Gold: If you are buying gold in Kerala and specifically in Kozhikode, there are an array of options in jewellery to choose from. you also have the option of gold coins, that are quite popular because they come with purity certifications to avoid being cheated on.Besides jewellers in Kozhikode you can also buy gold from banks available at denominations based on your appetite for gold investment. Gold ornaments that are popular here include anklets, chains, earrings, nose rings, amulets and rings that serve dual purposes of investment or wealth and ornamentation. A lot of families that are prosperous might consider Gold statues of gods and goddesses as a form of gift with such demands surging around festivities in the area during Pongal and Diwali. Note, that gold in banks are considered to be a little more expensive. But you get branded gold that comes with purity certifications. Kalyan Jewellers is a well known jewellers all over Kozhikode.
Market Trade: In Kozhikode people also invest in gold through the precious metal markets, with opportunities for trade in the National Commodity, National Multi Commodity Exchange, and Derivatives Exchange as well as the Multi Commodity Exchange. This is perfect for people who are willing to purchase in bullion with a minimum limit for trading at 1 kg. Also, people, inc current times should be aware how gold market functions especially based on the influence it has from global financial cues such as stock market, data releases, etc.
- Also check: Gold Rate In Kerala
Also Check Gold Price in NearBy Cities of Kozhikode
|Gold Rate In Kannur||Gold Rate In Malappuram||Gold Rate In Thrissur|
|Gold Rate In Trivandrum||Gold Rate In Kochi||Gold Rate In Coimbatore|
|Also Know: Silver Rate In Kozhikode|
Read more on Gold
- Auspicious Days to Buy Gold in 2016
- Buying Gold on Onam
- Importance of Gold in Kerala
- Why Investing In Gold Is A Golden Opportunity
- What Do the Markings on Gold Mean?
News About Kozhikode Gold Rate
Gold going downhill
A weak global trend, strong dollar and low demand for gold has made the yellow metal suffer in the past few weeks. That has clearly reflected in the spot gold and gold future rates.
Gold futures for delivery in April 2016 dropped by INR 225 as an equivalent of around 0.79%, to INR 28374 for 10 grams of the yellow metal. Future delivery for June 2016 went down by INR 223 and came to rest at INR 28639 for 10 grams. Gold prices in Singapore fell by 0.23% and came to rest at 1213.40 dollars an ounce.
29th March 2016