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Tirunelveli which is also known as Nellai is a city located in South Indian state, Tamil Nadu. Tirunelveli is the sixth largest municipal corporation in Tamil Nadu. It is situated on the west bank of Thamirabarani river.The city is known to be the education hub of Southern Tamil Nadu.The city boasts of a very rich culture and also has several tourist attractions. Agriculture, Tourism, Banking and education services are some of the most popular industries in Tirunelveli. When it comes to commodities that also act as an investment, Gold is the most preferred option in Tirunelveli. Gold jewelry and other gold investments are quite popular in Tirunelveli.
Gold Rate Trend in Tirunelveli 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 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|
Gold Rate Trend for Tirunelveli in October 2016
- Gold began trading at Rs.3,152 per gram in Tirunelveli, and prices remained more and less the same, thanks to steady demand until the 2nd.
- It was all downhill from then on as gold prices had hit its highest on the 1st.
- On 6th, gold was trading at Rs.3,040 per gram before declining steadily over the next few days of the month.
- By 15th, gold rates went down to as low as Rs.3,021 per gram - the lowest rate for the month of October.
- Despite the wedding and the festive season, gold prices only went up marginally to end the month at Rs.3,065 per gram.
- There was a decline of 2.76% in Tirunelveli with regards to gold rates.
Gold Rate Trend for Tirunelveli in November 2016
- November was a terrible month for gold rates despite some major fluctuations in the global market.
- The election of Donald Trump as the US President brought markets around the world crashing to bring about a surge in gold rates.
- When the month began, gold was trading at Rs.3,075 per gram and went up to reach Rs.3,119 per gram by the 5th.
- Rates went further up to Rs.3,166 per gram on 9th and seemed to grow for the next few days but demonetisation put a stop to any positive growth.
- When PM Narendra Modi announced demonetisation, gold rates went down because the entire nation went through a massive cash crunch.
- For the next few days, till the end of the month, gold prices declines steadily to end the month at Rs.2,938 per gram.
- Overall, November saw gold prices decline by 4.45% to chart the worst growth figures of 2016.
Gold Rate Trend for Tirunelveli in December 2016
- The effects of demonetisation were still fresh in December as the cash flow issues didn’t too much of an improvement over December.
- The month began with gold trading at Rs.2,890 per gram and seemed to go down over the course of the month.
- On 2nd, gold rates hit the highest for the month at Rs.2,892 per gram before going on a downward trajectory.
- The 22nd saw gold prices hit their lowest rate at Rs.2,767 per gram and seemed to improve, albeit only slightly.
- Thanks to the imminent arrival of New Years, gold prices seemed to stabilised towards the end of December.
- The month ended with gold trading at Rs.2,821 per gram, thereby bringing about a change of -2.38% for the month.
Gold Rate Trend in Tirunelveli 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 Tirunelveli 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 Tirunelveli 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 Tirunelveli 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.
Gold Rate Trend in Tirunelveli 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 on May 31st||Rs.3,105 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 27th June|
|Lowest price||Rs.2,869 per gram on April 4th||Rs.2,899 per gram on May 30th||Rs.2,916 per gram on 3rd June|
Gold Rate Trend of Tirunelveli in April 2016
- Gold traded at Rs.2,890 per gram on April 1st.
- Gold rates saw a incline through the month as the jewellers’ strike ended.
- As the prices soared, the highest recorded rate was on Rs.3,069 per gram on the 30th of April.
- The rising trend in April resulted in a 6.19% increase.
Gold Rate Trend of Tirunelveli in May 2016
- Gold traded at Rs.3,069 per gram and rose to Rs.3,076 on May 2nd.
- As the dollar gained strength, the U.S. Federal Reserve announced that it might increase the interest rates in the near future.
- As the appeal of gold dampened, the demand dropped leading to a fall in gold rates. Gold traded at Rs.2,914 on the 31st of May.
Gold Rate Trend of Thirunelveli in June 2016
- Gold prices were on the rise in June thanks to firming international trends.
- Although there were days on which gold prices suffered marginal losses, they were overwritten by subsequent gains and the highest rate of gold in the month of June was recorded on the 27th when prices hit Rs.3,180.
- Between the first and last day of the month, the overall increase in prices was Rs.264.
Gold Rate Trend in Tirunelveli for January 2016 to March 2016 (per gram of 24 karat gold)
|1st day||Rs.2,538 per gram||Rs.2,720 per gram||Rs.2,976 per gram|
|Last day||Rs.2,710 per gram||Rs.2,984 per gram||Rs.2,891 per gram|
|Highest price||Rs.2,719 per gram on January 28th||Rs.2,984 per gram on February 25th and 29th||Rs.2,991 per gram on March 8th to 10th|
|Lowest price||Rs.2,538 per gram on January 1st and 3rd||Rs.2,720 per gram on February 1st||Rs.2,874 per gram on March 28th|
Gold Rate Trend of Tirunelveli in January 2016
- Gold traded at a steady rate at the beginning of January.
- On January 1st, gold traded at Rs.2,538.
- Demand was steadily on the rise from the domestic market as well as the global market.
- Prices climbed through the month denoting a good increase of 6.77%.
- The highest rate was recorded at Rs.2,719 per gram on 28th January.
Gold Rate Trend of Tirunelveli in February 2016
- February started well picking up the rising trend from January.
- Gold traded at Rs.2,720 per gram on 1st February.
- Though there were fluctuations, the steady demand ensured gold maintained its increasing trend.
- Gold increased by 9.7% for the month of February.
- The highest gold rate was on the 25th and 29th of the month at Rs.2,984.
Gold Rate Trend of Tirunelveli in March 2016
- Gold rates in March experienced a bit of turmoil in the domestic market as the jewellers called for a strike.
- As majority of the demand was suspended in the domestic markets, the rates decreased through the month.
- Global demand ensured rates did not drop drastically. Gold traded at Rs.2,976 per gram on 1st March and ended at Rs.2,891 per gram on 31st March.
- Overall, March experienced a decline of 2.85%.
Gold Rate In Tirunelveli
Gold rate in Tirunelveli depends on the quality and quantity of gold. The purity of gold is measured in karat and the price differs for different qualities of gold. Given below is the gold rate for different quantities and quality of gold in Tirunelveli.
Gold rate for 22 karat gold
Weight of 22 karat gold
Price for 22 karat gold
Gold rate for 24 karat gold
Weight of 24 karat gold
Price for 24 karat gold
Gold investments in Tirunelveli
There are several ways in which one can invest in gold. Listed below are some of the popular type of gold investments in Tirunelveli.
- Physical gold- Physical gold is one of the most popular way of investing in gold. Physical gold can be purchased in the form of coins, bullion and jewelry. Bullion gold is the most sought after in terms of investment as a result of lower cost and higher liquidity.
- Market trade- One can invest in gold ETFs, E-gold and gold futures. It offers a very convenient and easy way to get exposure to gold in India. Though this type of investment is not as popular yet, a lot of people have started investing in it owing to the advantages offered by the investment.
Also Check Gold Price in NearBy Cities of Tirunelveli
- Also Check: Gold Rate in Tamil Nadu
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