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 April 2017 to June 2017 (per gram of 24 karat gold)

Gold Rate Trend in Tirunelveli for April 2017

• When April began in Tirunelveli, gold was priced at Rs.2,956 per gram.
• Prices increased to Rs.2,987 per gram on the 4th, albeit being relatively slow to react to a global increase in demand.
• However, as domestic investors saw little incentive for their purchase, gold prices fell by the 8th to hit Rs.2,954 per gram.
• After relatively steep change in demand for the next few days, gold prices surged significantly on the 3,001 per gram - marking a Rs.38 increase.
• Rates went up to Rs.3,040 per gram two days later - which happened to be the highest gold rate for the month.
• The coming days, i.e., from the 15th to the 30th of April, gold prices declined gradually, owing to the US market and the dollar rallying against other currencies.
• When the month ended on the 30th, gold was priced at Rs.2,984 per gram.
• Even though prices fell consistently towards the latter half of the month, rate trends remained positive at 0.94%.

Gold Rate Trend in Tirunelveli for May 2017

• The month of May couldn’t have begun any badly, as prices started on a comparative low due to a strong US dollar performance.
• On the 1st of May, gold was exchanging at Rs.2,984 per gram but fell during the subsequent days and reached Rs.2,908 per gram Rs.2,908 per gram.
• As the demand for gold is primarily dependent on how good or bad the US dollar is performing, a solid improvement from the currency led to a significant price drop.
• Rates went further down to Rs.2,888 per gram - the lowest for the month - before seeing a gradual increase over the coming days.
• On the 17th, prices had reached Rs.2,910 per gram and gained further to trade at Rs.2,958 per gram on the 18th of the month.
• The sudden increase was a courtesy of US job data making its way into the media, which led to stocks depreciating.
• For the last 10 days of May, gold rates in Tirunelveli slowly but gradually increased - as buyers remained cautious - to end the month at Rs.2,968 per gram.
• Price trends declined by just 0.53% as demand remained sluggish amidst a strong US economy.

Gold Price Trends in Tirunelveli for June 2017

• The month of June started with gold trading at Rs.2,977 per gram, which then increased to go as high as Rs.3,012 per gram by the 8th.
• However, prices fell the next immediate day, on the 9th, to Rs.2,987 per gram as demand from local circles subsided.
• As demand failed to pick up - and as the dollar performance was relatively better - gold prices went down to Rs.2,949 per gram by the 19th.
• Over the last 10 or so days of June, gold prices fluctuated considerably before ending the month at Rs.2,960 per gram.
• Price trends in Tirunelveli saw gold prices decline by 0.50%.

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 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.