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Kurnool is situated in Andhra Pradesh and is also known as the ‘Gateway to Rayalaseema’. It was the capital of Andhra Pradesh from 1953 to 1956. It is the fifth most populated city according to a census conducted in 2011. The place is home to many beautiful temples and caves which serve as a tourist attraction. The place is also well known for its mineral sources including iron ore, limestone, quartz, dolomite and silica. Another metal that is quite popular in Kurnool is gold. Just like people in every other part of India, people in Kurnool are obsessed with gold and consider it as an investment as well as a commodity. Gold jewelry and other investments in gold are equally popular in Kurnool.
Gold rate in Kurnool
The price of gold is usually measured in grams. The price of gold is decided based on many factors amongst which the quality of gold plays a deciding factor. The price for 22karat gold differs from the price offered on 24 karat gold which is considered to be the purest form of gold for jewelry making. Given below is the price for 22 karat as well as 24 karat gold in Kurnool.
Gold Rate Trend in Kurnool for October 2016 to December 2016 (per gram of 24 karat gold)
|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.2,767 per gram on 26th December|
Gold Rate Trend for Kurnool in October 2016
- The first week of October saw gold trading at Rs.3,152 per gram as festive season was looming large.
- However, prices seemed to drop during the second week as the US dollar strengthened against a low-performing rupee.
- The third week saw gold prices fluctuate and later increase slightly as the results of US Presidential Elections was awaited by markets around the world.
- Despite all the fluctuations, the last week saw gold prices gain by a positive margin to end the month at Rs.3,067 per gram.
- Overall, the price of gold witnessed a change of -2.69% during the month.
Gold Rate Trend for Kurnool in November 2016
- At the beginning of the month, gold was trading at Rs.3,065 per gram.
- There were plenty of catalytic factors that led to prices fluctuations throughout the month.
- Despite local demand being low, a Donald Trump victory in the US elections brought the markets crashing down thereby increasing rates.
- Demonetisation of higher currency notes was introduced at the beginning of second week which led to market crashing and demand for gold increasing.
- The next few days saw immense cash shortage in the entire country, which paved the way for low demands during the festive season.
- November saw gold prices change by -4.01% in Kurnool.
Gold Rate Trend for Kurnool in December 2016
- The effects of demonetisation was still visible as December began leading to little and no increase in demand.
- The last month of Q4 began with gold trading at Rs.2,893 per gram, which held steady for the first week but began to fall as the second week began.
- Festive periods, i.e., Christmas and New Year were looming large which led to an increased spending and thereby a decrease in demand for gold.
- This led to price drop from the 11th to the 20th when gold trading prices went from Rs.2,836 per gram to Rs.2,788 per gram.
- Prices continued their downward trend up until the last 4 days of 2016 when a sudden spike was witnessed.
- Rates went from Rs.2,783 per gram on the 27th to Rs.2,804 per gram on the 28th.
- The last month of 2016 ended with gold prices holding at Rs.2,821 per gram.
- Although December fared comparatively better than its previous two months, there still was a decline in gold prices.
- Overall, there was a price drop of -2.48% to be seen during the month of December.
Gold Rate Trend in Kurnool for July 2016 to September 2016 (per gram of 24 karat gold)
|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.3,215 per gram on 1st August||Rs.3,195 per gram on 8th September|
|Lowest price||Rs.3,115 per gram on 21st July||Rs.3,148 per gram on 31st August||Rs.3,132 per gram on 1st September|
|Trend||Increase in price||Decrease in price||Increase in price|
Gold Rate Trend in Kurnool for July 2016
- The price of gold was Rs.3,127 per gram at the start of the month and fell slightly as the week progressed due to muted demand.
- Prices rose in the second week as demand rose marginally, with gold reaching Rs.3,179 per gram on 7th July.
- The price fell due to demand dropping as currency markets stabilised and domestic demand dropped.
- Gold traded at Rs.3,133 per gram on 15th July as prices continued to fall due to a drop in demand.
- Prices rose slightly to Rs.3,136 per gram on 22nd July before prices dipped as international markets strengthened and domestic demand fell.
- Prices rose in the last week as stocks fell, with gold trading at Rs.3,214 per gram.
Gold Rate Trend in Kurnool for August 2016
- Gold traded at Rs.3,215 per gram in the first week, with prices fluctuating to close at Rs.3,171 per gram at the end of the week.
- Prices fell marginally in the second week to Rs.3,160 per gram on 9th August due to a drop in demand both domestically as well as internationally.
- There was a slight rise in price, with gold trading at Rs.3,181 per gram on 15th August due to a spike in demand and prices rising throughout the week.
- Gold traded at Rs.3,182 per gram in the last week, but a strong market led to the price falling to Rs.3,148 per gram at the end of the month.
Gold Rate Trend in Kurnool for September 2016
- Gold traded at Rs.3,132 per gram at the start of the week, with prices rising to Rs,3,150 per gram on 4th September on strong domestic demand.
- Prices rose to Rs.3,193 per gram on 8th September as demand from jewellers for the festive season pushed up prices.
- The third week saw gold trade at Rs.3,160 per gram on 14th September as demand was muted due to a resurgent stock market.
- Prices continued to slide, with gold trading at Rs.3,157 per gram on 22nd September, but recovered as the week progressed.
- The last week saw gold trade at Rs.3,169 per gram.
Gold Rate Trend in Kurnool for April 2016 to June 2016 (per gram of 24 karat gold)
|1st day||Rs. 2,894 per gram||Rs. 3,069 per gram||Rs.2,918 per gram|
|Last day||Rs. 3,069 per gram||Rs. 2,916 per gram||Rs.3,013 per gram|
|Highest price||Rs. 3,069 per gram on April 30.||Rs. 3,073 per gram on May 7.||Rs.3,180 per gram on 27th June|
|Lowest price||Rs. 2,894 per gram on April 1.||Rs. 2,900 per gram on May 30.||Rs.2,911 per gram on 3rd June|
Gold Rate Trend in Kurnool in April 2016
- Gold rates were quite high during the month of April and traded at Rs. 3,069 at the end of the month which was also the highest for April.
- A rise in gold price of 6.04% was witnessed as the month progressed.
Gold Rate Trend in Kurnool in May 2016
- Gold traded at Rs. 3,069 per gram on the first day of the month which was also one of the highest.
- Although the price of gold increased for a few days, it began to decline over the course of the month.
- A decline of 4.98% was noted in the price of the gold by the end of the month.
Gold Rate Trend of Kurnool in June 2016
- Gold rate was quite stable throughout the month with minor variations in certain weeks.
- The exit of Britain from the European Union resulted in investors rushing to buy gold amidst fear of global economic uncertainty, resulting in an increase in gold rates.
- There was a rise of 3.25% noted in the price of gold as the month ended.
- The lowest at which gold traded at was on the 3rd of June at Rs.2,911 per gram.
|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 28.||Rs. 2,987 per gram on February 26.||Rs. 2,994 per gram on March 1|
|Lowest price||Rs. 2,541 per gram on January 1,||Rs. 2,714 per gram on February 1.||Rs. 2,871 per gram on March 28.|
Gold Rate Trend in Kurnool in January 2016
- In the month of January, a rise in gold prices was observed as the month of January progressed.
- A rise of 6.65 % was seen.
- The highest price of gold was noted on 28th January at Rs, 2,727 per gram.
Gold Rate Trend in Kurnool in February 2016
- Gold traded at Rs. 2,714 per gram at the beginning of the month.
- Due to high demand, prices were quite high throughout the month.
- There was a rise of 9.21% witnessed towards the end of the month as compared to the beginning.
Gold Rate Trend in Kurnool in March 2016
- Gold trade opened at Rs. 2,994 per gram at the beginning of the month.
- However, as the month progressed, the prices declined, although there were a few fluctuations.
- A decline of 3.70% was observed at the end of March. This may be attributed to continued strikes.
Gold rate for 22 karat gold in Kurnool
Given below is the rate for 22 karat gold in Kurnool
Weight of 22 karat gold
Price for 22 karat gold
Gold rate for 24 karat gold in Kurnool
Given below is the price for 24 karat gold in Kurnool
Weight of 24 karat gold
Price for 24 karat gold
Gold investments in Kurnool
There are several ways in which one can invest in gold. Listed below are some of the popular type of gold investments in Kurnool.
- Physical gold- Physical gold is one of the most popular way of investing in gold. Physical gold can be purchased in the form of coins, bullion and jewelry. Bullion gold is the most sought after in terms of investment as a result of lower cost and higher liquidity.
- Market trade- One can invest in gold ETFs, E-gold and gold futures. It offers a very convenient and easy way to get exposure to gold in India. Though this type of investment is not as popular yet, a lot of people have started investing in it owing to the advantages offered by the investment.
- Also Check: Gold Rate in Andhra Pradesh
Also Check Gold Price in NearBy Cities of Kurnool
|Gold Rate In Hyderabad||Gold Rate In Vijayawada||Gold Rate In Visakhapatnam|
|Gold Rate In Guntur||Gold Rate In Nellore||Gold Rate In Rajahmundry|
|Gold Rate In Kakinada||Gold Rate In Proddatur||Gold Rate In Warangal|
Read more on Gold
- Significance Of Gold In Indian Culture
- Why Is Gold Rate Fluctuating
- Tips For Buying Gold Jewellery
- India Gold Coin
- Gold Rate Outlook for India in 2016