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Gold Price in Tamil Nadu
Tamil Nadu is said to be one of the most prosperous states in Southern India and has a reputation for gold lovers in terms of jewelry or ornamentation as well as trade since people can afford it. A lot of people consider it with a holistic perspective. The capital of the state, Chennai ranks above all other cities and towns in India in terms of gold trade. It is mainly because of the fact that this cosmopolitan city with the maximum number of sales and purchases of gold in India. Gold rates in Tamil Nadu are also vital because Tamilian ornamentation and designs are renowned the world over. There is also a strong belief among the people that Tamil Nadu having a metropolitan city like Chennai and being the top 4 cities of the country makes this statistic important when it comes to gold trade.
Gold Rate Trend in Tamil Nadu for October 2019 to December 2019 (per gram of 24 karat gold)
|1st Day||Rs.3,722 per gram||Rs.3,892 per gram||Rs.3,828 per gram|
|Last Day||Rs.3,857 per gram||Rs.3,828 per gram||Rs.3,925 per gram|
|Highest Price||Rs.3,872 per gram on 26 and 27 October||Rs.3,892 per gram on 1 November||Rs.3,925 per gram on 31 December|
|Lowest Price||Rs.3,722 per gram on 1 October||Rs.3,792 per gram on 28 November||Rs.3,771 per gram on 11 and 13 December|
Quarterly Gold Rate in Tamil Nadu from October 2019 to December 2019:
- In Tamil Nadu, gold prices showed a positive trend for the month of October. Opening at Rs.3,722 per gram, the metal’s prices remained steady for the first few weeks of the month. The lowest price of the metal was its opening price. Trade tensions between China and the United States of America escalated, pushing investors to shift to the bullion market. As the value of the dollar dipped against other currencies, the demand for the yellow metal increased. Gold prices hit its highest monthly price on 26 October at Rs.3,872 per gram. At the end of the month, gold closed at Rs.3,857 per gram with a percentage incline of 3.62.
- At the end of the month of October, the price of gold had hit new highs. However, the price of the metal began dipping throughout the month of November with positive trends in the stock market. Opening at Rs.3,892 per gram, the highest price of the month was on 1 November. With a gradual decline in prices throughout the month, gold prices were at a low with trade tensions between China and the United States of America easing out. Investors having a higher risk appetite shifted to the stock market resulting in the lowest price of the month at Rs.3,792 per gram on 28 November. As the United States Federal Reserve cut interest rates yet again and amidst a recovering dollar, the metal closed the month with a decline of 1.64% at Rs.3,828 per gram.
- In December, gold prices recovered marginally from the weak global trends in the previous month. This was majorly due to various geopolitical factors which prompted investors shifting back to the bullion market. Opening the month at Rs.3,828 per gram, the metal’s price was holding steady in the first two weeks of the month. However, as the tensions between the United States of America and Iran escalated, the value of the dollar dipped in the market. Investors shifted to the bullion as a safe haven asset. The highest price of the metal was on 31 December at Rs.3,925 per gram as United States President Donald Trump faced an impeachment inquiry. At the end of the month, gold prices recovered with an incline percentage of 2.53.
Gold Rate Trend in Tamil Nadu for July 2019 to September 2019 (per gram of 24 karat gold)
|1st Day||Rs.3,373 per gram||Rs.3,481 per gram||Rs.3,876 per gram|
|Last Day||Rs.3,505 per gram||Rs.3,876 per gram||Rs.3,783 per gram|
|Highest price||Rs.3,537 per gram on 19 July||Rs.3913 per gram on 29 August||Rs.3,953 per gram on 5 September|
|Lowest Price||Rs.3,373 per gram on 1 July||Rs.3,481 per gram on 1 August||Rs.3,763 per gram on 14 and 15 September|
Gold Rate Trend in Tamil Nadu for April 2019 to June 2019 (per gram of 24 karat gold)
|1st day||Rs.3,189 per gram||Rs.3,190 per gram||Rs.3,233 per gram|
|Last day||Rs.3,194 per gram||Rs.3,215 per gram||Rs.3,415 per gram|
|Highest price||Rs.3,208 per gram on 9, 27 and 28 April||Rs.3,246 per gram on 14 May||Rs.3,428 per gram on 28 June|
|Lowest price||Rs.3,161 per gram on 3 April||Rs.3,156 per gram on 23 May||Rs.3,233 per gram on 1 – 2 June|
Also Check Gold Price in Metro Cities
|Gold Rate Today In Bangalore||Today Gold Rate In Delhi||Today Gold Rate In Hyderabad|
|Today Gold Rate In Kolkata||Gold Rate Today In Mumbai||Gold Rate Today In India|
Gold Rate Trend in Tamil Nadu for January 2019 to March 2019 (per gram of 24 karat gold)
|1st day||Rs.3,172 per gram||Rs.3,326 per gram||Rs.3,305 per gram|
|Last day||Rs.3,321 per gram||Rs.3,333 per gram||Rs.3,200 per gram|
|Highest price||Rs.3,326 per gram on 30 January||Rs.3,373 per gram on 22 February||Rs.3,305 per gram on 1 March|
|Lowest price||Rs.3,172 per gram on 1 and 2 January||Rs.3,316 per gram on 7 February||Rs.3,169 per gram on 29 March|
Gold Rate Trend in Tamil Nadu for January 2019:
- Despite an uninspiring start in the beginning of 2019 when gold traded at Rs.3,172 per gram, the gold rate in Tamil Nadu surged in the coming weeks as retail demand rose and there were favourable overseas market cues. This was also the lowest price the metal stood at for the month.
- The price of the metal saw an up rise on 4th January as investors increased their stake in bullion as a hedge against potential equity losses due to volatile markets.
- Demand for the precious metal in Asia remained weak due to the impact of trade sanctions. However, healthy local and industrial demand maintained the positive trend of gold prices in Tamil Nadu.
- The month ended with gold trading at its highest on 30th January. This may have been the effect of the US government shutting down and Brexit’s negative effects in the economy. On 31st January, the yellow metal was priced at Rs.3,321 per gram on.
Gold Rate Trend in Tamil Nadu for February 2019:
- A diminished retail offtake and a volatile marked stunted the value of gold even though the gold rate in Tamil Nadu trading at a high at the start of the month. As on 1st February, the metal was trading at Rs.3,326 per gram.
- Due to conflicting overseas trends, the price of gold fluctuated. As on 5th February, gold was trading at Rs.3,346 per gram. During this time, local and industrial demand remained steady. However, the price dipped on 12th February when it was priced at Rs.3,305 per gram as investor interest declined.
- The Sino-US trade talks stirred up negativity in the economy and investors switched to safe-haven assets as a hedge against any losses. This boosted the demand for gold in Tamil Nadu and the price rose to Rs.3,350 per gram on 16 February.
- A weak US dollar also boosted local demand for the metal as gold prices rose to Rs.3,392 per gram on 21 February, but an aggressive stand by the Fed Reserve saw demand decline as gold closed at Rs.3,333 per gram on 28 February. The metal in Tamil Nadu saw a percentage incline of 0.21% for the month of February.
Gold Rate Trend in Tamil Nadu for March 2019:
- Gold rate in Tamil Nadu dipped in value at the beginning of the month as the value of the US dollar rose substantially. Uncharacteristically, stocks and equities too dipped in value at the same time. The price of gold on 1st March stood at Rs.3,305 per gram. This was also the highest value of the yellow metal for the month.
- The dollar then declined in value on the 7th in comparison to the Euro as the ECB pushed its decision to hike interest rates. This stunted the growth of the metal due to weak economic conditions.
- On 29th March, gold stood at its lowest point for the month when it was trading at Rs.3,169 per gram. This was influenced by the dollar increasing in value and the economic conditions weakening.
- A percentage decline of 3.17 was recorded for the month of March while it was trading at Rs.3,200 per gram. This was also one of the lowest prices the metal stood at for the month.
Gold Rate Trend in Tamil Nadu for October 2018 to December 2018 (per gram of 24 karat gold)
|1st day||Rs.3,071 per gram||Rs.3,184 per gram||Rs.3,045 per gram|
|Last day||Rs.3,188 per gram||Rs.3,045 per gram||Rs.3,165 per gram|
|Highest price||Rs.3,211 per gram on 15 October||Rs.3,196 per gram on 6 November||Rs.3,192 per gram on 11 December|
|Lowest price||Rs.3,071 per gram on 1 October||Rs.3,045 per gram on 30 November||Rs.3,045 per gram on 1 December|
Gold rate trend in Tamil Nadu in October 2018
- The trend of gold in Tamil Nadu showed positive signs in the month of October. The major factor being the fall in the value of the dollar and the strengthening of the rupee, due to the fall of global markets.
- On 1 October, gold traded at Rs.3,071 per gram increased throughout the month. By 15 October, the metal had reached its highest price of the month at Rs.3,211 per gram.
- Local demand amongst jewellers rose in the second half of the month due to the upcoming festivals in the country. The import business was positively affected due to the rise in demand.
- On the last day of the month, gold trading closed at Rs.3,188 per gram with a percentage incline of 3.80.
Gold rate trend in Tamil Nadu in November 2018
- Gold prices showed a downward trend in the month of November as the rupee weakened against the dollar.
- Trading for gold opened at Rs.3,184 per gram. Due to high demand in the first week, the metal reached its monthly high at Rs.3,196 per gram on 6 November.
- However, from the second week, the price of gold dipped as the dollar strengthened against other currencies. This had a negative effect on the import business in the country.
- On the last day of the month, gold trading closed at a monthly low price of Rs.3,045 per gram resulting in a percentage decline of 4.36.
Gold rate trend in Tamil Nadu in December 2018
- December saw the gold trade show an upward trend opening at Rs.3,045 per gram which marked the lowest price in the month.
- The US-China trade truce was underway which resulted in the falling of the markets. This resulted in the recovery of the rupee and increased demand of the metal.
- The highest price of gold was on 11 December at Rs.3,192 per gram. The second half of the month marked the beginning of the wedding season in the country. This resulted in the increase of the metal’s demand in India as well as the import business flourished.
- Gold trade closed at Rs.3,165 per gram on 31 December resulting in a percentage incline of 3.94.
Gold Rate Trend in Tamil Nadu for July 2018 to September 2018 (per gram of 24 karat gold)
|1st day||Rs.3,059 per gram||Rs.2,983 per gram||Rs.3,029 per gram|
|Last day||Rs.2,986 per gram||Rs.3,036 per gram||Rs.3,074 per gram|
|Highest price||Rs. 3,071 per gram on 6 July||Rs.3,036 per gram on 31 August||Rs.3,091 per gram on 19 September|
|Lowest price||Rs.2,986 per gram on 31 July||Rs.2,940 per gram on 16 August||Rs.3,019 per gram on 3 September|
Gold Rate Trend in Tamil Nadu for July 2018:
- The month saw gold rate in Tamil Nadu opening at Rs.3,059 per gram on the 1st with poor investor demand amid the bullish equity and stock markets.
- Gold prices surged to Rs.3,071 per gram on the 6th as the US dollar index declined ahead of the US jobs and payrolls’ data release.
- However, a drop in industrial offtake amid the rising US-China trade war concerns led to rates plunging considerably towards the end of the month.
- Trading concluded for the month with gold rates finishing at a monthly low of Rs.2,986 per gram on the 31st, registering a 2.38% loss in bullion trade during the course of the month.
Gold Rate Trend in Tamil Nadu for August 2018:
- The month witnessed demand for gold rising considerably with the threat of economic sanctions against Iran and China by the United States pushing investors to bank on safe-haven assets.
- The month began with gold price in Tamil Nadu holding at Rs.2,983 per gram on the 1st with demand on the decline amid the weak overseas trends.
- With the US dollar rising against the rupee, demand for the metal dropped and gold was recorded trading at a monthly low Rs.2,940 per gram on the 14th.
- Demand, however, picked up towards the end of the month with the Brexit negotiations and Italy’s budgetary crisis resulting in investor banking on the bullion.
- Gold was recorded trading at Rs.3,036 per gram on the 31st, recording an incline of 1.77% in bullion trade during the course of the month.
Gold Rate Trend in Tamil Nadu for September 2018:
- The last month of the quarter began with gold in Tamil Nadu priced at Rs.3,029 per gram, thanks to steady investor demand amid favourable market trends overseas.
- With the dollar strengthening ahead of the US employment data, demand for the metal plunged and gold was recorded trading at Rs.3,019 per gram on the 3rd.
- With tensions rising amid speculations over a possible economic downturn, demand for the metal surged with investor gravitating towards safe-haven assets.
- Gold was recorded trading at a monthly high of Rs.3,091 per gram on the 19th with domestic retailers and jewellers ramping up purchases ahead of the festive season.
- The month came to an end with gold trading at Rs.3,074 per gram on the 30th, registering 1.48% increase in gold trade during the course of the month.
Trend of Gold Rate in Tamilnadu for April 2018 to June 2018 (rates per gram of 24 karat gold)
|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.3,059 per gram|
|Highest Rate||Rs.3,153 per gram on 19 April||Rs.3,213 per gram on 15 May||Rs.3,127 per gram on 15 June|
|Lowest Rate||Rs.3,064 per gram on 6 April||Rs.3,103 per gram on 3 May||Rs.3,054 per gram on 24 June|
|Overall Monthly Performance||Incline||Incline||Decline|
Gold Rate Trend in Tamil Nadu for April 2018
- In the beginning of the month of April 2018, the Gold Rate in Tamil Nadu stood at Rs.3,072 per gram.
- The lowest price of the metal for the month was Rs.3,064 recorded on the 6th.
- Due to high demand, Gold price rose to Rs.3,153 towards the end of the month, on 19th.
- At the end of the month, the Gold Price in the state stood at Rs.3,123 per gram.
- It was an incline trend in Tamil Nadu when compared to the previous month as the rate of the metal rose by 1.66%.
Gold Rate Trend in Tamil Nadu for May 2018
- In the beginning of the month of May 2018, the Gold Rate in Tamil Nadu stood at Rs.3,114 per gram.
- The lowest price of Gold for the month of May was Rs.3,103, recorded on the 3rd of the month.
- The Gold rate for the month of May was the highest during the 15th, when it stood strong at Rs.3,213.
- On the last day of May the Gold price stood at Rs.3,112 per gram.
- It was a declining trend for the metal in Tamil Nadu for May when compared to the previous month as it reduced by 0.25%.
Gold Rate Trend in Tamil Nadu for June 2018
- In the beginning of June, the Gold price in the state of Tamil Nadu stood at Rs.3,100 per gram, similar to the Gold rate from the last day of the previous month.
- This highest price of the metal for the month stood at at Rs.3,127 on the 15th of June.
- The Gold price then deteriorated and hit its lowest on the 24th of June when it stood at Rs.3,054.
- It was a declining trend when compared to the previous month as the Gold rate declined heavily by 1.32%.
- Rs.3,059 per gram is what the Gold rate stood at for the end of the month, June 2018 in Tamil Nadu.
Gold Rate Trend in Tamil Nadu for January 2018 to March 2018 (per gram of 24 karat gold)
|1st day||Rs.3,009 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.3,129 per gram on 25 January||Rs.3,103 per gram on 14 February||Rs.3,105 per gram on 24 and 25 March|
|Lowest price||Rs.3,000 per gram on 4 January||Rs.3,003 per gram on 8 February||Rs.3,030 per gram on 19 March|
Gold Rate Trend in Tamil Nadu for January 2018:
- The bullion trade commenced in the state with gold trading at Rs.3,009 per gram on the 1st amid the strengthening US dollar and rising equities.
- Poor domestic demand coupled with weak global cues led gold rates plummeting to Rs.3,000 per kg on the 4th. This was also the lowest recorded monthly figure in Tamil Nadu.
- However, a decline in the dollar value with the US jobs data reporting a significant drop in the number of jobs contributing to the nation’s economy led to gold prices recovering over the next couple of weeks.
- Furthermore, the poor US inflation data raised concerns about the US economy and resulted in an increased demand for safe haven assets such as gold during the month.
- Gold rates surged to Rs.3,129 per gram - the highest recorded monthly figure - on the 25th with strong demand from market participants to hedge against inflation concerns.
- The month ended with gold prices holding at Rs.3,045 per gram on the last day. Strong trends overseas compounded with steady domestic demand from local jewellers, retailers and industries led to gold prices in Tamil Nadu rising by 1.19% during the month.
Gold Rate Trend in Tamil Nadu for February 2018:
- The month began with the yellow metal priced at Rs.3,040 per gram on the 1st after a rise in the dollar value led to a slight decline in rates at the domestic level.
- Gold prices dropped to Rs.3,003 per gram on the 8th as demand for the metal plummeted amid the strengthening US dollar and rising equities.
- Thanks to an increase in domestic demand from local jewellers and retailers on account of Valentine’s day, prices rose to their monthly high of Rs.3,103 per gram on the 14th.
- However, with the dollar regaining lost ground against other major currencies, demand remained on the weaker side for much of the month.
- The month came to an end with gold rates stabilising at Rs.3,046 per gram on the 28th with subdued but steady domestic demand amid firm overseas trends.
- Tamil Nadu registered a profit of 0.19% in bullion trade during the month of month of February.
Gold Rate Trend in Tamil Nadu for March 2018:
- The last month of the quarter commenced with gold priced slightly lower at Rs.3,043 per gram on the 1st following a decline in domestic demand from the previous session.
- The next couple of weeks saw gold rates fluctuating with demand vagaries brought about by the unevenly performing dollar and equity markets.
- Gold rates plunged to Rs.3,030 per gram on the 19th as the US stock markets surged following the abrupt dismissal of Rex Tillerson, the US Secretary of State, by President Trump.
- However, with the US dollar index losing against other apex currencies amid the ongoing US-China trade war concerns, demand for the bullion improved towards the end of the month.
- Strong investor demand coupled with positive global cues led to gold being priced at Rs.3,105 per gram on the 24th and the 25th. This was also the highest recorded monthly figure in the state.
- Trading concluded for the month with the yellow metal prices holding at Rs.3,072 per gram on the 31st.
- Thanks to the firm market trends that pushed demand higher for the metal, gold rates in Tamil Nadu rose by 0.95% during the course of the month.
Gold Rate Trend in Tamil Nadu for October 2017 to December 2017 (per gram of 24 karat gold)
|1st day||Rs.3,040 per gram||Rs.2,988 per gram||Rs.2,982 per gram|
|Last day||Rs.2,997 per gram||Rs.2,992 per gram||Rs.3,015 per gram|
|Highest price||Rs.3,059 per gram on 14 and 15 October||Rs.3,030 per gram on 18 and 19 November||Rs.3,015 per gram on 30 and 31 December|
|Lowest price||Rs.2,997 per gram on 6, 27, 30, and 31 October||Rs.2,974 per gram on 6 November||Rs.2,903 per gram on 13 December|
Gold Rate Trend in Tamil Nadu for July 2017 to September 2017 (per gram of 24 karat gold)
|1st day||Rs.2,950 per gram||Rs.2,926 per gram||Rs.2,995 per gram|
|Last day||Rs.2,925 per gram||Rs.2,971 per gram||Rs.3,040 per gram|
|Highest price||Rs.2,950 per gram on 1 & 2 July||Rs.2,999 per gram on 29 August||Rs.3,102 per gram from 8 September|
|Lowest price||Rs.2,796 per gram on 14 July||Rs.2,899 per gram on 3 August||Rs.2,995 per gram on 1 September|
Gold rate trend in Tamil Nadu for July 2017
- The introduction of GST in the country had a major impact on the domestic bullion industry during the month.
- Gold was priced at Rs.2,950 per gram when the month began. This was also the highest monthly figure Tamil Nadu witnessed.
- Domestic demand plummeted with the implementation of the newly approved 3% Goods and Services Tax. This led ted to gold price in Tamil Nadu plunging to Rs.2,796 per gram - the lowest monthly figure - on the 11th.
- Prices remained low for much of the month owing to subdued demand from local jewellers, industries and retailers.
- The dollar, however, dropped as the US-North Korean conflicts took centre stage. This led to gold rates surging to Rs.2,925 per gram on the last day.
- Tamil Nadu registered a loss of 0.84% in the bullion trade owing to poor domestic trends.
Gold rate trend in Tamil Nadu for August 2017
- Gold trade in Tamil Nadu was mostly influenced by strong global cues that pushed demand higher in the domestic markets.
- When trading commenced, gold was priced at Rs.2,926 per gram on the 1st of August.
- The 3rd saw gold price Tamil Nadu hitting the lowest monthly figure of Rs.2,899 per gram as demand declined amid a strengthening dollar.
- Demand remained poor for much of the month, courtesy of the US dollar.
- However, the 29th witnessed safe-haven investments surging after the US-North Korean relations escalated. This led to gold rates rising to Rs.2,999 per gram on the 29th.
- The month concluded with the precious metal trading at Rs.2,971 per gram on account of subdued demand from local jewellers, industries and retailers.
- Gold prices in Tamil Nadu inclined at 1.51% during the month owing to positive overseas trends.
Gold rate trend in Tamil Nadu for September 2017
- In Tamil Nadu, gold prices were mostly governed by the geopolitical concerns prevailing in the United States and Korean Peninsula. Rates also surged during the month due to the arrival of the festive season during the month.
- The yellow metal was priced at Rs.2,995 per gram when trading commenced for the month.
- Global equities market crashed soon after North Korea announced an official statement their successful thermonuclear weapon test. This led to investors around the world banking on safe-haven assets and gold was being priced at Rs.3,102 per gram on the 8th.
- The US economy, however, recovered over the next few days with a stronger dollar and firmer equities market. This led to gold rates float under the Rs.3,040 per gram for much of the month.
- Steady domestic demand from local jewellers, retailers and industries led to the bullion trading at Rs.3,040 per gram during the closing hours of the month.
- The yellow metal trade in Tamil Nadu registered a profit of 1.50% due to strong global trends coupled with an increased local demand.
Gold Rate Trend in Tamil Nadu for April 2017 to June 2017 (per gram of 24 karat gold)
|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 April and 16 April||Rs.2,971 per gram on 23 May||Rs.3,012 per gram on 8 June|
|Lowest price||Rs.2,954 per gram on 8 April and 9 April||Rs.2,888 per gram on 15 May||Rs.2,942 per gram on 20 June|
Gold Rate Trend in Tamil Nadu for April 2017
- Gold traded at Rs.2,956 per gram on the 1st April 2017.
- A slight increase in gold price in Tamil Nadu was seen on the 04th of April when the yellow metal traded at Rs.2,987 per gram.
- Though gold prices drifted from 05th to 11th April due to poor demand, the precious metal picked up and traded at Rs.3,028 on 14th of April.
- Lowest gold rate was Rs.2,954 per gram on 8 April and 9 April.
- As demand picked up in local and international markets, gold hit the highest rate on 15th and 16th of April and traded at Rs.3,040 per gram.
- In the last week of April, many fluctuations were seen in the rate of gold due to varying demand for the precious metal.
- As demand from local jewellers were muted, gold traded at Rs.3,033 per gram on the 17th of April.
- As the value of U.S dollar strengthened, gold prices fell and traded at Rs.2,971 per gram.
- Gold closed at Rs.2,984 per gram on the 30th of April.
Gold Rate Trend in Tamil Nadu for May 2017
- Gold opened at Rs.2,984 per gram on the first day of the month of May.
- The first week of May witnessed both increase and decrease in gold rates due to ever-changing demand from the local market.
- On the second day of the month, gold rates dipped slightly and traded at rs.2,952 per gram.
- Gold price in Tamil Nadu continued to fall from the 04th to 08th of April due to poor trend overseas.
- The lowest gold rate was recorded at Rs.2,888 per gram on 15 May.
- On 16th of May, gold rates increased to Rs.2,894 per gram and further rose to Rs.2,910 per gram.
- As news went viral about Donald Trump’s involvement in a federal investigation, gold increased on the 18th of May and traded at Rs.2,958 per gram.
- The highest gold rate for the month of May was recorded on 23rd of May when gold was sold at Rs.2,971 per gram.
- Gold closed at Rs.2,968 per gram.
- Overall, the month of May saw a decline in gold price by 0.53%.
Gold Rate Trend in Tamil Nadu for June 2017
- A slight increase was seen on the first day of the month as gold prices picked up and traded at Rs.2,977 on 01st May 2017.
- Though gold prices sipped on the 02nd of May and traded at Rs.2,965 per gram, it immediately rose as demand from local market picked up.
- The second week of June started well as gold prices picked up and traded at Rs.3,006 and 05th of June.
- The highest gold rate in Tamil Nadu for the month of June was Rs.3,030 per gram which was recorded on 7th June.
- From the 8th of June, gold prices continued to fall and hit the lowest gold rate of Rs.2,942 per gram on 20th June.
- The fall in gold price in Tamil Nadu was mainly due to poor demand, GST implementation in India, steady U.S dollar rate, and poor trend overseas.
- Gold closed at Rs.2,962 per gram.
- Overall, the month of May saw a decline in gold price by 0.50%.
Gold Rate Trend in Tamil Nadu for January 2017 to March 2017 (per gram of 24 karat gold)
|1st day||Rs.2,821 per gram||Rs.2,957 per gram||Rs.2,994 per gram|
|Last day||Rs.2,942 per gram||Rs.3,001 per gram||Rs.2,942 per gram|
|Highest price||Rs.2,974 per gram on 24th January||Rs.3,014 per gram on 25th & 26th February||Rs.2,994 per gram on 1st March|
|Lowest price||Rs.2,821 per gram on 1st January||Rs.2,940 on 3rd February||Rs.2,906 per gram on 15th of March|
Gold Rate Trend in Tamil Nadu for January 2017:
- Gold opened for January opened at Rs.2,821 per gram.
- As there was a positive demand in the global market, prices of gold increased to Rs.2,858 per gram on 5th and went up again on 8th to Rs.2,872 per gram.
- On 9th, gold prices increased again to Rs.2,895 per gram as concerns rose in the media and the government over Donald Trump’s handling of monetary policies.
- As there was no quick fix to the situation, demand kept increasing which brought gold prices up to Rs.2,914 per gram on 11th.
- Plenty of corrections towards the end of the month gave way to falling gold prices during the end of the month.
- The month of January came to a close with gold prices holding at Rs.2,942 per gram.
Gold Rate Trend in Tamil Nadu for February 2017:
- February started with gold trading at Rs.2,957 per gram.
- But prices declined to reach their lowest for the month at Rs.2,940 per gram as demand in global circles fell.
- Uncertainty over US policies was still present. This phenomenon pushed gold price up to Rs.2,989 per gram by the 8th.
- Gold prices reached their highest of Rs.3,014 per gram for the month, as US monetary policy issue led to markets gaining around the week.
- The month ended with gold trading at Rs.3,001 per gram as demand went down slightly.
Gold Rate Trend in Tamil Nadu for March 2017:
- The month of March began with gold trading at Rs.2,994 per gram.
- As the US Federal Reserve looked to increase the interest rate for a record time, gold prices took a hit to go down to Rs.2,961 per gram on 3rd.
- By the 10th, gold prices went down to Rs.2,931 per gram as there was a weak demand in the local market.
- A strengthened US dollar and a weak global market saw gold price dip to Rs.2,929 per gram on 14th.
- But as dollar value wavered, gold prices went up to Rs.2,940 per gram by the 18th.
- Over the last two weeks, gold prices seemed to correct themselves, bringing rates up to Rs.2,979 per gram by the 27th.
- Rates again dipped on the last day of the month to Rs.2,942 per gram due to a technical correction.
- March saw gold price trends hit the negative side with a change of -1.73%.
Also Check Gold Prices in the Cities of Tamil Nadu
Gold investment Avenues in Tamil Nadu
When it comes to a safe investment option, Gold is considered to be one of the least riskiest of trading commodities in any market, whether regional or global. In Tamil Nadu too the yellow metal is considered an investment option that is lower on risk factors, primarily based on the fact that it is highly affordable and culturally significant as mentioned before. It is also an integral part of their investment portfolio along with stock market and mutual fund investments. Investors have various options for gold trading through gold contracts and physical gold.
Buying Physical Gold: In keeping with the rest of the country, the people of Tamil Nadu purchase gold mainly in the form of jewelry. Needless to say, there are a number of jewelry establishments spread in and around the city to meet this demand. Gold rates or prices are updated on a daily basis and can be obtained from those dealing in gold or online via many financial sites. India imports most of its gold requirements from abroad. Tamil Nadu which doesn’t have any significant gold production also contributes to the country’s need to substantiate gold demand through imports. Even though gold is bought as jewelry, it is done for reasons beyond ornamentation. Such purchases form a part of many buyers’ investment portfolio.
Market Avenue: In this state you can purchase gold through the markets, with gold being traded in the National Multi Commodity Exchange, National Commodity and Derivatives Exchange and the Multi Commodity Exchange. This is apt for individuals willing to purchase gold in bulk, with the minimum trading limit being set at 1 kg in general. It's a viable option for people who are well aware of the gold market and all that affects it.
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