Gold Rate In Malappuram

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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 October 2020 to December 2020 (per gram of 24 karat gold)

Quarterly Gold Rate in Malappuram from October 2020 to December 2020:

• Gold prices in Malappuram opened at the rate of Rs.5,025 per gram in the month of October 2020. The precious metal had recorded the highest price point on 28th of October wherein the precious metal was being traded at the rate of Rs.5,166 per gram. The lowest price of the yellow metal was recorded on 18th of October wherein it stood at the rate of Rs.4,893 per gram. The month closed with gold price in Malappuram being listed at Rs.5,050 per gram. During the month, the overall performance of gold in Malappuram witnessed an incline of 0.50%.
• In the month of November 2020, the gold prices in Malappuram opened at the rate of Rs.5,050 per gram. Gold had recorded the highest price point on 10th of November wherein the precious metal stood at the rate of Rs.5,302 per gram. The lowest price of the yellow metal was recorded on 30th of November wherein it stood at the rate of Rs.4,876 per gram. The month closed with gold price in Malappuram being listed at Rs.4,876 per gram. During the month, the overall performance of gold in Malappuram witnessed a decline of –3.45%.
• In Malappuram, the price of gold opened at the rate of Rs.4,877 per gram in the month of December 2020. For the month, gold had recorded the highest price point of Rs.5,131 per gram on 29th December 2020. The lowest price was recorded on 1st of December wherein it stood at the rate of Rs.4,877 per gram. The month closed with gold price in Malappuram being listed at Rs.5,095 per gram. During the month, the overall performance of gold in Malappuram witnessed an increase of 4.47%.

Gold Rate Trend in Malappuram for July 2020 to September 2020 (per gram of 24 karat gold)

Quarterly Gold Rate in Malappuram from July 2020 to September 2020:

• In July, the rate of gold in Malappuram opened at Rs.4,698 per gram and closed at Rs.5,195 per gram. The gold prices had increased by 10.57% for this month. The outbreak of the virus all over the world and the stimulus measures introduced by governments and central banks ensured that gold rates increased significantly.
• On 1 August 2020, the price of gold was at Rs.5,245 for a gram. By the end of the month, gold rates had reached Rs.5,132 per gram. Gold prices in Malappuram had dipped as many countries decided to reopen their economies. Gold rates declined by 2.15% in August.
• In September, the rates of the yellow metal had reduced by 0.38%. Gold rates reduced due to the increase in appetite for riskier products. The highest and lowest rates that the yellow metal hit for the month were Rs.5,204 per gram and Rs.4,830 per gram.

Gold Rate Trend in Malappuram for April 2020 to June 2020 (per gram of 24 karat gold)

Quarterly Gold Rate in Malappuram from April to June:

• On 1 April 2020, the price of gold in Malappuram was at Rs.3,969 for a gram. Due to the coronavirus outbreak all over the world, the prices of gold increased by 17.43% over the course of the month. On 30 April 2020, the price of the yellow metal was at Rs.4,661 for a gram.
• Gold prices in Malappuram declined by 2.11% in the month of May. The reopening of economies in several countries due to the relaxation of the lockdown restrictions ensured that the prices decreased. The lowest and highest rates that gold hit for the month were Rs.4,436 per gram and Rs.4,785 per gram, respectively.
• Continuing the trend set in May, the prices of the yellow metal slightly declined in June as well. After opening the month and Rs.4,732 per, gold prices dropped and closed the month at Rs.4,714 per gram. Investors shifting towards riskier products ensured that the prices decreased.

Gold Rate Trend in Malappuram for January 2020 to March 2020 (per gram of 24 karat gold)

Quarterly Gold Rate in Malappuram from January 2020 to March 2020:

• The year had started with gold recording a price of Rs.4,023 per gram on 1 January in Malappuram. The rate of the yellow metal had seen a hike in its price during the month of January by 4.15%. The rates of the precious metal had skyrocketed during the first week and had finally settled at its highest rates on two days in January. On 9 January and 31 January, the metal was being sold at Rs.3,806 per gram. A lot of the traders had then started to take refuge in the bullion market as tensions had started to brew in the Middle East. The impeachment inquiry by the U.S. President had also been a factor that had driven this move. These traders invested in the gold bullion market and by 16 January, gold was priced at Rs.3,890 per gram. The prices had stayed the same six consecutive days (16 January to 21 January). During these days, the price of the yellow metal had been Rs.3,906. The rates of the precious metal had increased to Rs.3,922 on 22 January. After the metal had shown an incline in its price, gold closed curtains on 31 January, being priced at Rs.3,964 per gram.
• The yellow metal had stepped its foot into February and stood at Rs.3,964 per gram. The price of the metal had remained stagnant till 3 February. The metal had then witnessed a dip in its price and was being sold at Rs.3,927 per gram on 6 February. By 11 February, Malappuram had seen the price of the metal reach Rs.3,959 per gram. The rates had remained the very same until 13 February (for 3 days). The rates had then hiked up because a lot of coronavirus cases had been started to be reported in the world. On 14 February, the prices of the metal had increased to Rs.3,980 per gram and the rates had remained the very same till 15 February. The yellow metal had seen an increase in its price by 19 February and stood at Rs.3,990 per gram. The rates of the yellow metal had then increased to Rs.4,027 per gram by 20 February. On 21 February, the rates of one gram of the metal had hiked up to Rs.4,053 per gram. A price of Rs.4,174 per gram had been recorded on 25 February. This was the highest price that the metal had recorded in February. This month had then closed with gold selling at Rs.4,153 per gram by 29 February.
• In Malappuram, the price of the metal had dropped and from Rs.4,074 per gram on the first day of the month to Rs.3,969 per gram by 31 March. This had been a fall of 2.5%. This dip in rates is due to the fear of the coronavirus. On 3 March, the price had reached Rs.4,085 per gram. The rates of the metal had touched Rs.3,885 per gram by 18 March and this had been the lowest rate that the metal had recorded during the month of March. This fall in the rate of the yellow metal had been because the traders liquidated their positions in the metal. The move had been made by them in spite of all central banks across the world making efforts to fight the pandemic. The traders had started to fear an economic fallout. By 22 March and also on 23 March, the rates of gold had been Rs.3,990 per gram. The next eight days had seen the price of the precious metal stay the same. From 24 March to 31 March, the rates had been the same. The rates had been Rs.3,969 per gram on these days.

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 Price in NearBy Cities of Malappuram

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