Gold Rate In Tamil Nadu

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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.

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.

Gold Rate Trend in Tamil Nadu 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 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
Trend	Incline	Decline	Decline
Change	0.94%	-0.53%	-0.50%

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)

Factor	January	February	March
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
Trend	Incline	Incline	Decline
Change	+4.28%	+1.49%	-1.73%

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)

Factor	October	November	December
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
Trend	Decline	Decline	Decline
Change	-2.76%	-4.45%	-2.38%

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)

Factor	July	August	September
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
Trend	Incline	Decline	Decline
Change	+2.68%	-1.84%	-0.25%

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)

Factor	April	May	June
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
Trend	Rising	Decline	Rising
Change	+6.97%	-5.56%	+9.24%

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.

Also Check Gold Prices in the Cities of Tamil Nadu

Gold Rate in Chennai	Gold Rate in Coimbatore	Gold Rate in Madurai
Gold Rate in Salem	Gold Rate in Trichy	Gold Rate In Erode
Gold Rate In Tirunelveli	Gold Rate In Vellore	Gold Rate In Tuticorin
Gold Rate In Thanjavur	Gold Rate In Dindigul	Gold Rate In Karur
Gold Rate In Hosur	Gold Rate In Nagercoil

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