Gold Rate In Tirunelveli

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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 January 2017 to March 2017 (per gram of 24 karat gold)

Gold Rate Trend in Tirunelveli for January 2017:

• Gold opened trading for January at Rs.2,821 per gram.
• As there was a positive demand in the global markets, gold prices went up to Rs.2,858 per gram on 5th and then to Rs.2,872 per gram on 8th.
• Prices went up again on 9th to Rs.2,895 per gram as there were plenty of concerns regarding US monetary policy and how President Donald Trump would handle the situation.
• As demand kept increasing, gold prices went up to Rs.2,914 per gram on 11th.
• Due to a weakening US dollar, gold prices seemed to increase to Rs.2,971 per gram by 18th.
• However, plenty of corrections led to gold prices falling slightly towards the end of the month.
• January ended with gold prices holding at Rs.2,942 per gram.

Gold Rate Trend in Tirunelveli for February 2017:

• February, to an extent, maintained the positive growth that was seen in January.
• The month began with gold trading at Rs.2,957 per gram and remained the same on the 2nd.
• However, gold prices declined to hit the lowest for the month at Rs.2,940 per gram as demand fell.
• But, uncertainty over US policies still gripped the market, which pushed prices to go up to Rs.2,,989 per gram by the 8th.
• As US Federal Reserve rate was increased, gold price slipped to Rs.2,946 per gram on the 10th.
• Gold prices hit their highest of Rs.3,014 per gram, as the back and forth on US monetary policies saw markets gaining around the work.
• The month ended with gold trading at Rs.3,001 per gram as demand went down slightly.
• February saw gold price trends in increase by 1.49%.

Gold Rate Trend in Tirunelveli 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 Tirunelveli for October 2016 to December 2016 (per gram of 24 karat gold)

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)

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)

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 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.