Gold Rate In Thanjavur

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Gold rates are set to recover in 2016. There are various national and international economic factors which influence the price of gold such as oil prices, US jobs data, interest rates, current account deficit, investment inflow, import duties, inflation, safe haven buying, demand and supply of the precious metal in addition to stock markets and currency devaluations among others. Gold rates in India may vary across cities owing to local taxes and transportation costs among others.

Thanjavur is a well-known city in the state of Tamil Nadu. Thanjavur is known for its culture, temples, paintings and UNESCO World Heritage Monuments. The city is also known for its contribution to the agricultural output of Tamil Nadu. Thanjavur has a thriving service-oriented industry owing to the large influx of tourists. Thanjavur is also a major hub for silk weaving and manufacture of various musical instruments. Gold is considered auspicious in Thanjavur and worn during all major festive occasions.

Gold Rate Trend in Thanjavur 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 Thanjavur for January 2017:

• In temple town Thanjavur, gold opened for January at Rs.2,821 per gram.
• Due to a positive demand seen in the global markets, gold prices 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 Thanjavur 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 Thanjavur 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 Thanjavur 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 October and 2nd October	Rs.3,166 per gram on 5th and 6th November	Rs.2,892 per gram on 2nd December
Lowest price	Rs.3,021 per gram on 15th and 16th of October	Rs.2,932 per gram on 9th November	Rs.2,767 per gram on 22nd December
Trend	Decline	Decline	Decline
Change	-2.76%	-4.45%	-2.38%

Gold Rate Trend for Thanjavur in October 2016

• Gold traded at Rs.3,152 per gram in Thanjavur, with prices remaining steady until the 2nd due to sustained demand. This was also the highest rate at which gold traded in October. However, as the week progressed, the rate of gold started declining.
• Despite the decline, gold rate was relatively high during the first two weeks which could be attributed to the ongoing festive as well as wedding season.
• Rate of gold was Rs.3,040 per gram for 24 karat gold on the 6th of October and reduced steadily as the month progressed.
• On the 15th of October, gold rate fell to Rs.3,021 per gram and was steady the next day as well. This was the lowest price of gold for the month of October.
• There were fluctuations noted in the rate of gold due to varying demand in India and overseas.
• However, despite demand due to ongoing wedding season, there was a decline of 2.76% noted in the price of gold at the end of the month.

Gold Rate Trend for Thanjavur in November 2016

• In the month of November, the rate of gold was quite high, due to an increase in demand as it was a continuation of the wedding season in the country. Price of gold was quite high at the beginning of the month wherein gold traded at Rs.3,075 per gram. Gold rate increased from the 2nd of November due to a high demand for gold in both domestic and overseas markets.
• The price of gold was Rs.3,104 per gram on 2nd November and Rs.3,098 per gram on 3rd November. On the next day, rate of gold increased to Rs.3,112 per gram.
• On the November 5th, the rate of gold increased to Rs.3,119 per gram and stayed put at this the next day as well. Rate of gold reduced again before shooting up to Rs.3166 per gram on the 9th which was the highest for the month.
• On November 8th, Prime Minister Narendra Modi announced the ban of notes worth Rs.500 and Rs.1,000 in order to combat corruption. Due to the severe cash crunch that followed in the wake of demonetization, variations were noted in the price of gold.
• Gold rate declined steadily throughout November with some fluctuations.
• From the 20th of November, gold was priced at Rs.2,986 per gram. Gold traded at Rs.2,932 per gram on the 25th of November and this was the lowest rate at which gold traded at for the month.
• Towards the end of the month, the price of gold varied slightly before closing at Rs.2,942 per gram. An overall decline of 4.01% was noted in the rate of gold.

Gold Rate Trend for Thanjavur in December 2016

• On the 1st of the last month of 2016, the price of gold was Rs.2,890 per gram. Rate of this precious metal increased by Rs.2 the next day but decreased steadily thereafter over the following days.
• The rate of gold increased to Rs.2,893 per gram on the 5th of December and 6th of December which was also the highest rate at which gold traded at for the month.
• Gold prices decreased thereafter and was steady at Rs.2,836 per gram and finally reduced to Rs.2,800 per gram in the 15th of December.
• The price of gold continued declining with a few minor variations. This could be attributed to reduced demand for gold both overseas and in India.
• On the last day of the month, the price of gold was Rs.2,821 per gram. A decline of 2.38% was recorded overall.

Gold Rate Trend in Thanjavur 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 Thanjavur 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 Thanjavur 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 Thanjavur in September 2016

• Gold traded at Rs.3,120 per gram on 1st September.
• Prices continued to increase consistently until the 8th of the month when they hit Rs.3,195 per gram – the highest recorded rate in August.
• Prices then fluctuated for a few days after which they began declining gradually until the 18th
• 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 first and last day of the month was a mere 0.25%.

Gold Rate Trend in Thanjavur 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.3,105 per gram
Highest Price	Rs. 3,069 per gram on April 30	Rs. 3,076 per gram on May 2	Rs.3,180 per gram on 27th June
Lowest Price	Rs. 2,877 per gram on April 1	Rs. 2,914 per gram on May 31	Rs.2,916 per gram on 3rd June
Trend	Rise	Decline	Rise
Change	+6.19%	-5.05%	+6.82%

Gold Rate Trend of Thanjavur in April 2016

• Gold rate opened at Rs. 2,890 per gram and rose steadily with a few minor fluctuations here and there.
• The highest rate of gold in the month was on the last day with gold trading at Rs. 3,069 per gram and rise of 6.19% was noted in the price of gold as the month ended.
• The lowest rate of gold was on the first of the month wherein gold was priced at Rs. 2,877 per gram.

Gold Rate Trend of Thanjavur in May 2016

• Gold opened at Rs. 3,069 per gram on the first day of the month.
• As the month of May progressed, a decline of 5.05% was observed with the lowest rate being observed on the 31st of May at Rs. 2,914 per gram.
• The highest rate at which gold traded was on 2nd May at Rs. 3,076 per gram.

Gold Rate Trend of Thanjavur in June 2016

• Due to an increase in demand from domestic markets, a rise noted in the price of gold.
• There was a decline noted in the price of gold at the beginning of the month due to changes in the stability of the market.
• An increase of 6.82% was noted in the price of gold at the end of the month.
• The highest rate observed was on the 27th of June, wherein gold was priced at Rs.3,180 per gram.

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