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Gold Rate in Malappuram
In the Malappuram district there is a place called Nilambur. This is an interesting place because it is said to form a part of the much sought after Wynad goldfields. The place gold is divided in 2 primary zones with auriferous gravels in this region called ‘Pandipuzha-Chiyarpuzha zone’ and ‘Punnapuzha-Maruthapuzha zone’. the possibility of a golden gravel reserve of approximately 85 lakh cubic meters has been expected to be laying there. Due to the ever-increasing gold import costs in India the exploitation of this sort of deposit is being scrutinized by the nation’s Government. This place might end up being the gold hub someday, but as of today, we do not yet have the Road to this El Dorado in India.
Gold Rate Trend in Malappuram 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 April 30.||Rs. 3,025 per gram May 1st to 3rd||Rs.3,050 per gram on 25th to28th June|
|Lowest Price||Rs. 2,852 per gram on April 4.||Rs. 2,885 per gram on May 30th||Rs.2,895 per gram on 1st - 8th June|
Gold Rate Trend of Malappuram in April 2016
- The month of April was bright for gold starting at Rs. 2,872 and increasing by 5.32% by the end of the month.
- Increase in demand led to a rising trend with the highest record on April 30th at Rs. 3,025.
- Anticipation of a growing U.S economy, a stronger dollar and a Fed rate hike leaves the trend uncertain at the end of April.
Gold Rate Trend of Malappuram in May 2016
- May began with steady rates from the previous month opening at Rs. 3,025 per gram.
- The louder chorus in anticipation of the U.S. Federal Reserve interest rate hike led to gold rates dropping to the floor.
- Prices dropped to the lowest in a year because higher borrowing costs don’t work well for non-interest bearing assets such as the bullion.
- Gold ended at Rs. 2,895 per gram, a 4.29% decrease.
Gold Rate Trend of Malappuram in June 2016
- Gold rates were relatively constant through the month of June with a few fluctuations along the way.
- Gold traded at Rs.2,895 at the start of the month and rose to Rs.3,050 by 25th June.
- The stagnant prices can be attributed to stable domestic demand that negated global falls.
Gold Rate Trend in Malappuram for January 2016 to March 2016 (per gram of 24 karat gold)
|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 27th to 28th January||Rs. 2,872 per gram from 26th to 29th February||Rs. 2,907 per gram on 8th March|
|Lowest Price||Rs. 2,507 on 1st to 3rd January||Rs. 2685 per gram on 1st February||Rs. 2,822 per gram on 29th March|
|Change||+ 7.10 %||+6.96%||0%|
Gold Rate Trend of Malappuram in January 2016
- Gold opened in January at Rs. 2,507.
- The month experienced fluctuations throughout, but the changes were moderate.
- Due to increased demand from the jewellers in the domestic market, January 27th witnessed the highest number for the month at Rs. 2,688 per gram.
- The month ended with to Rs. 2685, indicating a rising trend with 7.10% incline.
Gold Rate Trend of Malappuram in February 2016
- Gold rates traded at Rs. 2,685 per gram on February 1st, continuing the trend from the previous month.
- Rising demand led to the rates jumping onto an inclined track climbing up to Rs. 2,872 on 26th.
- The prices didn’t drop for the rest of the month, a 6.96% increase for February.
Gold Rate Trend of Malappuram in March 2016
- The trends from February seeped into March with the prices opening at Rs. 2,872 per gram.
- Gold rates stayed constant through the month with minor fluctuations.
- Gold traded the highest for the month on March 8th at Rs. 2,907.
- On account of speculation of a hike in the U.S. Federal Reserve interest rates, gold prices were set on a path of decline.
- The month ended at the same price it started with marking a 0% change.
Current Gold Rates in Malappuram
Similar to other cities in India, gold rates have been highly volatile in the last few years amid the skepticism of US Federal Reserve and European Central Bank's decisions on interest rates. Also, the instability in the stock markets all over the World in the past one year has impacted gold prices with rates falling drastically in the second quarter of the financial year but somehow being unable to completely recover stability up to this date. As on March 1, 2016, the purest 24K gold rates in Malappuram for 1 gram is Rs. 2,962 . 22K gold rates in Malappuram is at Rs. 2,765 per gram. Gold rates here hence are close to the general gold rate trends in india and affected similar global financial phenomenon that influence gold prices in India.
Gold Investment Trends in Malappuram
investment opportunities are pleasantly existing in Kerala because people in this region, in general consider gold as an auspicious commodity to store wealth as. Some of the leading investmenting trends for gold in Malappuram in gold include:
Physical Gold: Similar to the gold trends in other cities in Kerala, gold coins, are considered a great investment opportunity since they are available with purity certificates, especially from banks saving them from fraudulent gold sale. It is often bought from banks where denominations of gold based on your requirement for investment are available. Note, that buying gold from banks might be a little more expensive. Gold ornaments, like every other Keralite city has a very high demands for family functions especially marriages with demands of bangles, anklets, chains, nose rings, earrings, amulets and of course rings that both are opportunities to acquire wealth as well as ornamentation. Many families with would also invest in statues of gods and goddesses made out of gold as a form of gift with such demands picking up around the wedding season along with 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 in this district.
Market Trade: You can simply invest through the precious metal markets, in the National Commodity, National Multi Commodity Exchange, and Derivatives Exchange as well as the Multi Commodity Exchange. This is advisable for people who are open to investing in bullion gold with a the lowest purchase limit for trading being at 1 kg. For such investors, it is advisable to know the gold market for the right time for both in investment and selling it, for larger capital gains made for such investments in gold.
- Also check: Gold Rate In Kerala
Also Check Gold Price in NearBy Cities of Malappuram
|Gold Rate In Thrissur||Gold Rate In Trivandrum||Gold Rate In Kochi|
|Gold Rate In Kozhikode||Gold Rate In Kannur||Gold Rate In Coimbatore|
|Also Know: Silver Rate In Malappuram|
Read more on Gold
- Auspicious Days to Buy Gold in 2016
- Buying Gold on Onam
- Importance of Gold in Kerala
- How New Gold Schemes are Going to Affect Indian Economy
- Top 8 Reasons to Invest in Gold