Gold Rate In Nellore

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Gold rates in the first two months of 2016 have been on the rise despite strong US jobs data and equities and weak demand among other factors. Gold rates in India are influenced by various national and international factors such as import duties, inflation, current account deficit, currency fluctuations and so forth. According to reports, geopolitical conflicts and plummeting stock markets have resulted in strengthening the position of gold as a safe haven asset this year.

Nellore is one of the well-known districts in Andhra Pradesh owing to its cultural and historical importance. Gold is viewed as a traditional form of investment in Nellore as most residents buy various forms of gold jewelry, coins and bars. The gold jewelry is handed down from generation to generation in many households. Gold jewelry is an important part of various auspicious occasions and ceremonies such as weddings and religious processions.

Gold as an investment in Nellore

Gold bars and coins are widely sold and bought in Nellore. Gold is highly sought-after given its intrinsic value. Many residents in Nellore invest in Gold coins as a hedge against inflation. In many rural areas, the precious yellow metal is more easily accessible and sought-after compared to bank deposits owing to the former being viewed as a robust investment option.

Physical Gold: There are various jewellery stores in Nellore such as Jain Gold, Shantilal and Sons and Tata Gold Plus among others. Wedding jewellry with intricate designs is much in demand by most consumers in Nellore. Gold rings and various forms of temple jewelry are also much in demand.

Gold Contracts: The MCX (Multi Commodity Exchange) and NSEL (National Spot Exchange)

sell spot and future gold contracts in India. MCX Gold contracts are available in two variants - 1 kg and 100 grams (Gold Mini).

Gold Rate Trend in Nellore for January 2018 to March 2018 (per gram of 24 karat gold)

Factor	January	February	March
1st day	Rs.3,002 per gram	Rs.3,040 per gram	Rs.3,043 per gram
Last day	Rs.3,045 per gram	Rs.3,046 per gram	Rs.3,072 per gram
Highest price	Rs.3,084 per gram on  20 & 21 January	Rs.3,103 per gram on 14 February	Rs.3,105 per gram on 24 & 25 March
Lowest price	Rs.3,001 per gram on 4 January	Rs.3,003 per gram on 8 February	Rs.3,030 per gram on 19  March
Trend	Incline	Incline	Incline
Change	1.43%	0.19%	0.95%

Gold Rate Trend in Nellore for October 2017 to December 2017 (per gram of 24 karat gold)

Factor	October	November	December
1st day	Rs.3,040 per gram	Rs.2,974 per gram	Rs.2,982 per gram
Last day	Rs.2,996 per gram	Rs.2,996 per gram	Rs.3,015 per gram
Highest price	Rs.3,059 per gram on 14 and 15 October	Rs.3,030 per gram 18 to 20 November	Rs.3,015 per gram on 30 and 31 December
Lowest price	Rs.2,996 per gram on 31 October	Rs.2,974 per gram on 1 and 6 November	Rs.2,906 per gram on 13 December
Trend	Decline	Incline	Incline
Change	-1.44%	0.73%	1.10%

Gold Rate Trend in Nellore for October 2017:

• The price of gold in Nellore was Rs.3,040 per gram on 1 October as demand was steady.
• Demand dropped sharply as gold price in Nellore fell to Rs.2,997 per gram on 6 October following the sudden rise in the dollar rate.
• Local demand was also muted in spite of the festive season due to unfavourable market cues.
• As Diwali approached, there was a gradual increase in gold prices, with the metal trading at Rs.3,059 per gram on 14 October.
• Equities lost ground as the dollar slipped against global currencies, resulting in a rise in the price of gold.
• Demand from local industrial units and jewellers also increased, which led to a spurt in the price of gold.
• A gradual drop in price was recorded towards the end of the month, with gold trading at Rs.3,026 per gram on 20 October and later falling to Rs.3,000 per gram on 26 October.
• Prices continued their downward spiral, as gold ended the month at Rs.2,997 per gram due to poor demand.

Gold Rate Trend In Nellore For November 2017:

• The start of trading in Nellore saw gold priced at Rs.2,998 per gram, as there was minimal movement in price.
• Industrial demand from Asia was muted due to a stable U.S. Dollar, which made imports more expensive.
• Gold price in Nellore dropped to Rs.2,974 per gram on 6 November after a rally by markets led to a further decrease in demand for the precious metal.
• There was a slight gain in the price as local demand picked up, with gold priced at Rs.3,015 per gram on 12 November.
• Gold made gains as political tensions within the United States led to market turbulence, as gold rose to Rs.3,031 per gram on 18 November.
• As the dollar recouped its losses in the last week of November, there was a gradual drop in demand for gold overseas.
• Local demand was steady and kept prices from dropping too sharply, as gold ended the month priced at Rs.2,992 per gram.

Gold Rate Trend In Nellore For December 2017:

• The last month of the year saw a number of fluctuations in the price of gold in Nellore.
• The month opened with the precious metal trading at Rs.2,982 per gram as local demand was high due to poorly performing equity markets.
• Gold price in Nellore dipped to Rs.2,917 per gram on 8 December as the dollar made a sharp upswing after the release of the new U.S. tax policy.
• Markets across the world reacted strongly to the sudden rise in the dollar, with gold prices dropping sharply.
• There was a slight recovery in the price of gold as the month progressed, though this change was minimal.
• As the tax implications of the new policy sunk in, there was panic selling and the dollar value plunge,d leading to a renewed interest in bullion.
• Gold prices in Nellore rose to Rs.2,985 per gram on 28 December.
• There was a further rise in the price of gold as tensions with North Korea led to global panic, sending investors rushing to invest in gold as a safe-haven asset.
• Prices closed at Rs.3,015 per gram on 31 December as gold registered a rise of 1.10% over the course of the month.

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Gold Rate Trend in Nellore for July 2017 to September 2017 (per gram of 24 karat gold)

Factor	July	August	September
1st day	Rs.2,950 per gram	Rs.2,931 per gram	Rs.2,995 per gram
Last day	Rs.2,920 per gram	Rs.2,965 per gram	Rs.3,040 per gram
Highest price	Rs.2,950 per gram on 1 & 2 July	Rs.2,977 per gram on 12 & 13 August	Rs.2,995 per gram on 1 September
Lowest price	Rs.2,800 per gram on 14 July	Rs.2,900 per gram from 5- 7 August	Rs.3,071 per gram on 7 September
Trend	Decline	Incline	Incline
Change	-1.01%	1.16%	1.50%

Gold Rate Trend in Nellore for July 2017:

• Gold opened at Rs.2,950 per gram in Nellore. But, rates declined over the initial weeks due to poor marketing conditions.
• Add to this, the imposition of 3% GST on gold jewellery led to investors remaining on the cautious side.
• Gold rates in Nellore decline significantly towards the second week as import costs rose due to a steadily strengthening US dollar.
• The yellow metal was valued at its lowest on the 14th, when the metal traded at Rs.2,800 per gram on the 14th of July.
• Local demand however, recovered slightly over the remaining two weeks of the month as the greenback weakened due to poor marketing conditions in the US.
• When the month came to an end, gold was priced at Rs.2,920 per gram. Overall, there was a 1.01% decline in gold rates because of weak demand brought about by GST and a strong US dollar.

Gold Rate Trend in Nellore for August 2017:

• Demand for the yellow metal improved this month as investors acquainted themselves better with the new GST rule.
• Gold price in Nellore Rs.2,931 per gram on the 1st of August - a Rs.11 increase from the previous day’s rates.
• The yellow metal’s rates began to pick up towards the end of the month as the US dollar seemed to weaken amid the rising conflict between the US and North Korea.
• Gold traded at its highest of Rs.2,980 per gram on the 29th of August as festive demand pushed rates up.
• When the month end, the yellow metal traded at Rs.2,965 per gram.
• This month saw gold rates in Nellore surge up by 1.16%, thanks to favourable market conditions.

Gold Rate Trend in Nellore for September 2017:

• September turned out to be the best month for gold trading as markets crashed amid reports on North Korea’s nuclear tests.
• The month began with gold trading at Rs.2,995 per gram and saw considerable increase over the course of the first week.
• On the 7th, gold rate in Nellore hit Rs.3,071 per gram - the highest for the month - as domestic demand surged due to positive cues from the international market.
• A confirmation offered by North Korea about its most powerful nuclear test triggered the volatility of key western markets.
• Gold demand consolidated towards the end of the month, as the dollar made a comeback, to trade at Rs.3,040 per gram.
• Strong global cues along with Dusshera and Dhanteras demand pushed gold rates in Nellore up by 1.5% this month.

Gold Rate Trend in Nellore for April 2017 to June 2017 (per gram of 24 karat gold)

Factor	April	May	June
1st day	Rs.2,956 per gram	Rs.2,984 per gram	Rs.2,977 per gram
Last day	Rs.2,984 per gram	Rs.2,968 per gram	Rs.2,962 per gram
Highest price	Rs.3,040 per gram on 15 & 16 April	Rs.2,984 per gram on 1 May	Rs.3,030 per gram on 7 June
Lowest price	Rs.2,954 per gram on 8 & 9 April	Rs.2,888 per gram on 15 May	Rs.2,942 per gram on 20 June
Trend	Incline	Decline	Decline
Change	0.94%	-0.53%	-0.05%

Gold rate trend in Nellore for April 2017

• The price of gold in Nellore was on the upswing as April began, trading at Rs.2,956 per gram on 1 April.
• Prices rose as the U.S. dollar was under pressure and fluctuated, which led to higher demand from overseas customers and industry.
• Local demand was muted, which led to some fluctuation in the price of gold as it fell to Rs.2954 per gram on 9 April before recovering to trade at Rs.3,040 per gram on 15 & 16 April.
• As U.S. markets struggled to stay afloat due to tensions with North Korea and the scandal enveloping the White House, demand for the yellow metal increased but local demand was muted.
• Gold prices dropped to Rs.3,020 per gram on 20 April and continued to drop as the month progressed, trading at Rs.2,970 per gram on 28 April.
• Prices recovered marginally as the month ended, with gold trading at Rs.2,984 per gram on 30 April to record an overall increases in price by 0.94%.

Gold rate trend in Nellore for May 2017

• Gold prices fluctuated towards the beginning of May due to market volatility and reducing demand for gold.
• The yellow metal traded at Rs.2,984 per gram on 1 May before dropping to Rs.2,899 per gram on 6 May as European markets surged following the victory of Emmanuel Macron in the French presidential election.
• Local demand also declined due to higher costs associated with a rising U.S. dollar.
• Gold rates continued to fluctuate for the rest of the month, trading at Rs.2,910 per gram on 17 May before an increase in demand from local jewellers led to prices rising to Rs.2,954 per gram on 20 May.
• Prices climbed towards the end of the month as the Russia scandal began to envelop the Trump administration, which led to a drop in markets and investor confidence.
• Gold traded at Rs.2,979 per gram on 27 May before prices dipped marginally to end the month at Rs.2,963 per gram on 31 May.
• Unfavourable market conditions as well as a reduction in demand led to gold prices falling sharply, with a decline of 0.53% in the value of gold over the course of the month.

Gold rate trend in Nellore for June 2017

• The month of June began with gold trading at Rs.2,985 per gram on 1 June and rose to Rs.3,012 per gram on 5 June as the U.S. dollar was on the decline due to internal political crises plaguing the administration.
• Prices rose to a monthly high of Rs.3,030 per gram on 7 June before demand began to drop due to a reduction in overseas demand.
• Local demand from jewellers was muted in spite of favourable market conditions, which led to gold trading at Rs.2,975 per gram on 12 June.
• The G20 summit and its implications on the business sector led to markets recovering marginally, which led to a reduction in demand for the yellow metal.
• Gold traded at Rs.2,949 per gram on 19 June due to a sharp decline in demand but recovered to trade at Rs.2,964 per gram on 25 June.
• Prices fluctuated as the month drew to a close, trading at Rs.3,967 per gram on 30 June.

Gold Rate Trend in Nellore for January 2017 to March 2017 (per gram of 24 karat gold)

Factor	January	February	March
1st day	Rs.2,821 per gram	Rs.2,965 per gram	Rs.2,990 per gram
Last day	Rs.2,954 per gram	Rs.3,003 per gram	Rs.2,940 per gram
Highest price	Rs.2,978 per gram on 23rd January	Rs.3,014 per gram on the 25th and 26th of February	Rs.2,994 per gram on the 2nd of March
Lowest price	Rs.2,821 per gram on 1st January	Rs.2,944 per gram on the 4th and 5th of February	Rs.2,900 per gram on 15th of March
Trend	Incline	Incline	Decline
Change	4.71%	1.28%	-1.67%

Gold Rate Trend for Nellore in January 2017

• On the first day of the new year, gold traded at Rs.2,821 per gram due to low demand for this metal. This was also the lowest at which gold traded for the month.
• There was a marginal rise in the rate of gold over the next few days due to slow demand for this metal.
• At the end of the first week of January the rate of gold rose up to Rs.2,872 per gram and stayed at this rate the next day as well.
• There was a slight improvement in the rate of gold from the 14th of January onwards due to the harvest festival of Sankranti in Nellore. Gold was priced at Rs.2,941 per gram on the 14th and 15th of January before continuing to rise.
• On the last day of the month, gold was priced at Rs.2,954 per gram, with a rise of 4.71% in the price of gold.

Gold Rate Trend for Nellore in February 2017

• On the first day of February, gold was priced at Rs.2,965 per gram and fell the next day to trade at Rs.2,954 per gram.
• However, due to a fall in the demand for this metal, the rate of gold fell to Rs.2,944 per gram on the 4th of February. This rate was also noted on the 5th of February.
• There was a marginal improvement in the rate of gold as the week progressed with this metal trading at Rs.2,964 per gram on the 11th and 12th of February after which prices dropped again.
• The rate of this precious metal rose up again on the 17th of February to trade at Rs.2,988 per gram.
• Gold traded at its highest rate on the 25th and 26th of February wherein it was priced at Rs.3,014 per gram. However, this rate could not be sustained and at the end of the month, gold traded at Rs.3,003 per gram recording a rise of 1.28% in the price.

Gold Rate Trend for Nellore in March 2017

• Gold traded at a promising rate of Rs.2,990 per gram on the first of the month before rising to the monthly high price of Rs.2,994 per gram.
• However, these rates could not be sustained due to a fall in the demand for this precious metal resulting in gold trading between Rs.2,972 per gram and Rs.2,951 per gram between the 3rd and 9th of March.
• The rate of gold continued to fall with gold trading at Rs.2,900 per gram on the 15th of March which was also the lowest at which gold traded during the month. This could be attributed to the Dutch Elections and the decision of the U.S. Fed Reserve regarding the rate of interest.
• Towards the end of the month, the rate of gold fell, with a few minor variations here and there. On the last day of the month gold traded at Rs.2,940 per gram recording a decline of 1.67% in the price of this precious metal.

Gold rates in Nellore

The price of gold has been on the rise in 2016 across the world including India. Gold rates in Nellore mirrored the world-wide trend in that 1 gm of 24 karat gold which was pegged at Rs.2610 on January 1st, 2016 rose by 2.6% to Rs.2679 on January 10th, 2016. The price of the precious yellow metal rose further in the first month of the year registering a 2.9% increase at Rs.2759 on January 31st, 2016. The months of February 2016 witnessed a similar trajectory in terms of rise in gold rates in that 1 gm of 24 karat gold which was pegged at Rs.2866 on February 9th rose by 3% to Rs.2952 on February 18th. The trend continued in the following days as the price of gold reached a peak at Rs.3016 on February 28th. The price of 1 gm of gold is pegged at Rs.3036 as on March 9th, 2016. The price of gold plummeted throughout 2015 with the exceptions of a few mini-rallies in the months of May and June. 1 gm of 24 karat gold was pegged at Rs.2848 in January 2015 fell in the following months to Rs.2724 in July 2015. The price further fell in the months of August and September to Rs.2694. 1 gm of 24 karat gold was pegged at Rs.2563 on December 28th, 2015.

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