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Gold Rate 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 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%.
Gold Rate Trend in Tamil Nadu for October 2016 to December 2016 (per gram of 24 karat gold)
|1st day||Rs.3,152 per gram||Rs.3,075 per gram||Rs.2,890 per gram|
|Last day||Rs.3,065 per gram||Rs.2,938 per gram||Rs.2,821 per gram|
|Highest price||Rs.3,152 per gram on 1st & 2nd October||Rs.3,166 per gram on 9th November||Rs.2,892 per gram on 2nd December|
|Lowest price||Rs.3,021 per gram on 15th & 16th October||Rs.2,932 per gram on 25th November||Rs.2,767 per gram on 22nd December|
Gold Rate Trend for Tamil Nadu in October 2016
- Gold prices for October fluctuated due to market conditions which affected industrial and retail demand.
- Gold was priced at Rs.3,152 per gram on 1st October on sustained demand from the previous month.
- Prices dropped due to international trends, in spite of it being the start of the festive season.
- Gold rates fluctuated due to a resurgent U.S. Dollar, as global markets also capitalised on strong trading.
- Markets were unstable as the month ended due to uncertainty over the impact of the U.S. presidential election results, which led to gold making some gains.
- Gold ended the month trading at Rs.3,065 per gram on 31st October, with the price falling by 2.76%.
Gold Rate Trend for Tamil Nadu in November 2016
- The price of gold in Tamil Nadu Gold rose as the month began but fell sharply due to a steep drop in demand towards the middle of the month.
- Gold was priced at Rs.3,075 per gram on 1st November as markets were unstable as the U.S. presidential election approached.
- The surprise victory of Donald Trump kept markets low, which increased gold prices during the week.
- The announcement of the demonetisation of Rs.1,000 and Rs.500 notes led to a sharp drop across Indian stock markets and higher demand for gold, which traded at Rs.3,166 per gram on 9th November.
- Prices fell as industrial demand dropped due to fewer orders from Asia, as markets also began to recover from the previous week’s losses.
- Gold traded at a monthly low of Rs.2,932 per gram on 25th November due to a steady decline in domestic demand.
- Prices rose marginally as the month ended, as gold traded at Rs.2,938 per gram on 30th November.
Gold Rate Trend for Tamil Nadu in December 2016
- The continued shortage of cash led to lower than usual domestic demand, which led to gold prices remaining low.
- Gold was priced at Rs.2,890 per gram on 1st December, with the price dropping during the week as demand from industry was low due to a strengthening U.S. Dollar.
- The Christmas season led to higher volumes of sales, which boosted stock markets and reduced investor demand for gold.
- Prices fell to a quarterly low of Rs.2,767 per gram on 22nd December as the run-up to Christmas pushed gold demand low internationally, while domestic markets were still to recover from the shortage of cash.
- Prices recovered towards the end of the month, as U.S. Dollar rates fell, resulting in gold prices rising to Rs.2,821 per gram on 31st December.
Gold Rate Trend in Tamil Nadu for July 2016 to September 2016 (per gram of 24 karat gold)
|1st day||Rs.3,130 per gram||Rs.3,201 per gram||Rs.3,184 per gram|
|Last day||Rs.3,214 per gram||Rs.3,142 per gram||Rs.3,176 per gram|
|Highest price||Rs.3,214 per gram on 30th and 31st July||Rs.3,210 per gram on 5th August||Rs.3,197 per gram on 8th September|
|Lowest price||Rs.3,119 per gram on the 19th and 25th of July||Rs.3,142 per gram on the 31st August||Rs.3,120 per gram on 1st September|
Gold Rate Trend of Tamil Nadu in July 2016
- Gold traded at Rs.3,130 per gram on the 1st of July and increased consistently until the 4th after which they began fluctuating.
- Fluctuations continued over the course of the month and the lowest recorded rate in August was Rs.3,119 per gram on the 19th.
- The precious metal closed the month of July trading at Rs.3,214 per gram.
- The overall increase in prices between the first and last day of August was 2.68%.
Gold Rate Trend of Tamil Nadu in August 2016
- The rate of gold per gram on the 1stt of August was recorded at Rs.3,201.
- Prices fluctuated over the course of the month, with stability being achieved only on few days.
- The highest recorded rate of gold in the month of August was on the 5th when they touched Rs.3,210 per gram.
- The lowest recorded rate during the month was on the last day of trading, when they fell to Rs.3,142 per gram.
- The overall decline in prices between the start and end of the month was 1.84%.
Gold Rate Trend of Tamil Nadu in September 2016
- Gold traded at Rs.3,120 per gram on 1st September and prices continued to rise consistently until the 8th of the month when they hit Rs.3,195 per gram – the highest recorded rate in August.
- A minor decline on the 15th then saw prices settle at Rs.3,135 until the 18th.
- Consistent increases were recorded between the 20th and 25th of September after which prices decreased gradually until the 28th.
- Gold closed the month trading at Rs.3,176 per gram and the overall decline in prices between the start and end of September was just 0.25%.
Gold Rate Trend in Tamil Nadu for April 2016 to June 2016 (per gram of 24 karat gold)
|1st day||Rs.2,890 per gram||Rs.3,069 per gram||Rs.2,934 per gram|
|Last day||Rs.3,069 per gram||Rs.2,914 per gram||Rs.3,015 per gram|
|Highest price||Rs.3,069 per gram on April 30th||Rs.3,076 per gram on May 2nd||Rs.3,180 per gram on June 27th and June 29th|
|Lowest price||Rs.2,869 per gram on April 4th||Rs.2,914 per gram on May 31st||Rs.2,911 per gram on June 3rd|
Gold Rate Trend of Tamil Nadu in April 2016
- Gold prices were recorded at Rs.2,890 per gram on the 1st of April and fluctuated over the course of the month.
- Although there were losses recorded on certain days of the month, they were written off by subsequent gains on certain days.
- The highest price recorded in the month of April was Rs.3,069 on the last day of the month while the lowest was Rs.2,869 on the 4th of the month.
- The overall increase in prices between the first and last day of the month was Rs.179.
Gold Rate Trend of Tamil Nadu in May 2016
- Gold prices remained unchanged on the first day of May, at Rs.3,069.
- Prices declined consistently during the first week of May, and small increases over the rest of the month were written off by subsequent losses.
- The highest price recorded in May was Rs.3,076 between the 2nd of the month, and the lowest was Rs.2,914 on the 31st.
- The overall decline in prices when comparing the first day of May to the last was only Rs.155.
Gold Rate Trend of Tamil Nadu in June 2016
- Gold prices were recorded at Rs.2,934 on the 1st of June and fluctuated over the course of the month.
- The highest recorded rate in June was on the 27th and the 29th when prices hit Rs.3,180, while the lowest was recorded on the 3rd of the month, at Rs.2,911.
- The overall increase in prices between the first and last day of the month was Rs.81.
|1st day||Rs.2,538 per gram||Rs.2,720 per gram||Rs.3,030 per gram|
|Last day||Rs.2,710 per gram||Rs.2,984 per gram||Rs.2,948 per gram|
|Highest price||Rs.2,719 per gram on January 28th||Rs.2,984 per gram on February 25th and February 29th||Rs.3,030 per gram from March 1st to 14th|
|Lowest price||Rs.2,538 per gram on January 1st and 2nd||Rs.2,720 per gram on February 1st||Rs.2,940 per gram from March 15th to 17th|
Gold Rate Trend of Tamil Nadu in January 2016
- Gold traded at Rs.2,538 per gram on the 1st of January and consistent increases were recorded over the next two weeks.
- There were fluctuations in price over the course of the month, as small declines were duly overwritten by subsequent gains.
- The highest rate recorded in January was Rs.2,719 on the 28th, and the lowest was Rs.2,538 on the 1st and 2nd of the month.
- The overall increase in prices between the first day and the last day of January was Rs.172.
Gold Rate Trend of Tamil Nadu in February 2016
- Gold prices were recorded at Rs.2,720 per gram on the 1st of February, as the change in rates from the last day of the previous month was only Rs.10.
- Prices increased gradually over the course of the month, and although there were slight declines on certain days, they were written off by subsequent gains.
- The highest rate recorded in the month of February was Rs.2,984 on the 25th and 29th of the month, while the lowest was Rs.2,720 on the 1st.
- The overall increase in prices between the first and last day of the month was Rs.264.
Gold Rate Trend of Tamil Nadu in March 2016
- Gold prices were recorded at Rs.3,030 on the 1st of March, and they remained unchanged until the 14th of the month.
- Prices fell to Rs.2,940 and remained there until the 17th, after which they rose to Rs.2,998 and remained stable until the 24th of February.
- A decline by Rs.50 saw prices plunge to Rs.2,948 on the 25th, and they remained unchanged until the end of the month.
- The overall decline in prices between the first and last day of March was just Rs.82.
Also Check Gold Prices in the Cities of Tamil Nadu
Details of Gold Price in Tamil Nadu (22 Karat & 24 Karat) - Till December 2015
As of December 19, 2015, gold rate for 22K gold is Rs. 2382 for every gram. The more purer form of gold which is 24K gold was being traded in Tamil Nadu at Rs. 2548. Earlier this year the highest price of gold being traded Tamil Nadu for 22K and 24K was Rs. 2678 and Rs. 2865. However, with several economic factors both regions but mainly global, gold rates fell over the Summer to as low as Rs. 2349 and Rs. 2547 during the months of August, 2015 after which it picked up well during the wedding season and indian festivities such as Dussehra, Diwali and Akshaya Tritiya. However, the gold rates in Tamil Nadu has been moderately lower when compared with other states.
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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