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Srikakulam is a tiny city located just off the coast of Bay of Bengal and was known as Chicocole before independence. According to Hindu mythology, the city is rumoured to be found by Hindu deity Balarama, also known as the brother of Lord Krishna. According to a census dated 2011, the city has a population just under 2 lakh and ranks 24th among the most populous cities of Andhra Pradesh. This city is also popular for housing one of the very few sun temples in all of India and is a rather popular spot for religious people as a result.
Trend of Gold Rate in Srikakulam for May 2018 (rates per gram)
|1st day||Rs.3,072 per gram||Rs.3,114 per gram||Rs.3,100 per gram|
|Last day||Rs.3,123 per gram||Rs.3,122 per gram||Rs.3,054 per gram|
|Highest price||Rs.3,153 per gram on 19 April||Rs.3,147 per gram on 14 May||Rs.3,119 per gram on 9 & 10 June|
|Lowest price||Rs.3,064 per gram on 6 April||Rs.3,103 per gram on 2 May||Rs.3,054 per gram on 30 June|
Gold Rate Trend in Srikakulam for April 2018:
- Gold was priced at Rs.3,072 per gram in Srikakulam when trading began for the month of April.
- Demand was strongly positive this month as the US dollar was weak and investor sentiments remained strong around the world.
- The ongoing trade tiff between the US and China combined with the US-NATO strike on Syria put a halt to market growth and pushed safe haven demand up.
- This led to gold trading at Rs.3,153 per gram on the 19th of April - the highest gold rate for the month.
- When the month came to a close, gold was priced at Rs.3,123 per gram with a 1.66% change in price trends recorded for the month.
Gold Rate Trend in Srikakulam for May 2018:
- When May’s trading started, gold was priced at Rs.3,114 per gram. This month saw cues weaken ahead of an improving US dollar, which caused demand to drop.
- The metal was trading at its lowest for the month on the 2nd when it traded at Rs.3,103 per gram.
- Over the second week, demand seemed to rise as investors capitalised on a shaky dollar and demand rose. On the 14th, gold traded at a monthly high rate of Rs.3,147 per gram.
- Due to weak demand, gold rates seemed to drop over the next two weeks - till the end of the month.
- On the final day, gold was priced at Rs.3,122 per gram after demand consolidated. A slight increase of 0.25% in trends were recorded this month.
Gold Rate Trend in Srikakulam for June 2018:
- When trading started for the final month of Q2 2018, gold was priced at Rs.3,100 per gram.
- The US dollar was bullish this month, which in turn pushed gold into the bearish side of the spectrum.
- Positive growth figures in the US caused gold rates to drop as all precious metals are traded in US dollar and a positive dollar caused rates to rise considerably.
- The 9th and 10th recorded the highest rates for the month, when they traded at Rs.3,119 per gram - as local demand surged briefly.
- However, demand was yet to see worse days and gold rates plummeted consistently over the remaining few days of the month.
- On the final day of June, the yellow metal was priced at Rs.3,054 per gram. Price trends recorded a 1.48% drop this month due to a strong dollar and bearish investor sentiment.