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.

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Gold Rate Trend in Tirunelveli for October 2018 to December 2018 (per gram of 24 karat gold) 

Factor	October	November	December
1st day	Rs.3,071 per gram	Rs.3,184 per gram	Rs.3,045 per gram
Last day	Rs.3,188 per gram	Rs.3,045 per gram	Rs.3,165 per gram
Highest price	Rs.3,211 per gram on 15 October	Rs.3,196 per gram on 6 November	Rs.3,192 per gram on 11 December
Lowest price	Rs.3,071 per gram on 1 October	Rs.3,045 per gram on 30 November	Rs.3,045 per gram on 1 December
Trend	Incline	Decline	Incline
Change	3.80%	-4.36%	3.94%

Gold Rate Trend in Tirunelveli for October 2018:

• Growing retail demand and favourable market cues boosted gold prices in Tirunelveli after the metal traded at Rs.3,071 per gram when trading opened on 1 October.
• Local industrial demand was steady despite a weak rupee but a drop in Asian industrial offtake impacted global orders and led to some fluctuations in the metal’s price.
• Gold rose to Rs.3,211 per gram on 15 October as retailers and jewellers increased purchases due to the festive season but a strong dollar resulted in prices dropping marginally in subsequent days.
• Fluctuations in demand due to conflicting overseas cues impacted prices marginally as gold traded at Rs.3,188 per gram when trading closed on 31 October.

Gold Rate Trend in Tirunelveli for November 2018:

• Reduced offtake from industrial units and static demand from jewellers resulted in a drop in gold rates in Tirunelveli during the month after the metal opened strongly at Rs.3,184 per gram on 1 November.
• Prices rose to Rs.3,196 per gram on 5 November as demand was high due to Diwali but poor overseas cues and a weak rupee led to a steep drop in gold demand in the following weeks.
• Industrial orders from China continued to be poor due to the impact of the Sino-U.S. trade tariffs as overseas investor interest was also muted.
• Prices fell steadily as the month drew to a close, with gold trading at Rs.3,045 per gram on 30 November on poor local and overseas demand.

Gold Rate Trend in Tirunelveli for December 2018:

• A sustained rise in retail demand and a recovery in the rupee rate boosted gold prices in Tirunelveli though prices remained at Rs.3,045 per gram when trading opened on 1 December.
• The upcoming festive season saw an increase in offtake from jewellers, with industrial demand also rising on positive cues.
• Gold reached a monthly high of Rs.3,192 per gram on 11 December as fluctuating markets drove investors to the safe-haven metal.
• Prices dropped marginally as a strengthening dollar capped gains in spite of rising retail sales, with gold trading at Rs.3,165 per gram on 31 December to record a 3.94% increase in value during the month.

Gold Rate Trend in Tirunelveli for July 2018 to September 2018 (per gram of 24 karat gold)

Gold rate trend in Tirunelveli for July 2018

• The gold rates in Tirunelveli fluctuated throughout the month of July as the trend overseas was weak and the demand for the metal from local jewellers fell.
• When trading for the metal commenced on 1 July, gold was priced at Rs.3,059 per gram. The demand for the metal on the first day of the month was steady amid poor trend in international markets.
• Gold rates surged in the first week of July in Tirunelveli. The highest gold rate for the month was recorded on 6 July when the precious metal traded at Rs. 3,071 per gram.
• However, in the following weeks, the retail and industrial demand for the metal fell and the value of the US dollar increased which caused gold rates to fall continuously.
• The lowest gold rate was recorded on 31 July, when the metal closed at Rs.2,986 per gram.
• Overall, the trend of gold in Tirunelveli for the month of July was a decline of 2.38%.

Gold rate trend in Tirunelveli for August 2018

• On 1 August, gold was priced at Rs.2,983 per gram in Tirunelveli. Gold rates could not surge during the first half of the month as the demand for the metal was poor and the market trends overseas weren’t positive.
• Investors and other significant players refrained from investing in the precious metal. On 16 July, the lowest gold rate for the month was recorded when the metal traded at Rs.2,940 per gram.
• In the following days, the value of the US dollar declined and the demand for the metal increased both in domestic and international markets. Investors turned towards safe-haven assets which increased the price of gold in Tirunelveli.
• During the last few days of the month, gold rates surged and recorded the highest gold rate for the month on 31 August. On this day, the precious metal traded at Rs.3,036 per gram.
• Overall, the trend of gold in Tirunelveli for the month of August inclined by 1.77%.

Gold Rate Trend in Tirunelveli for September 2018

• Gold prices in Tirunelveli were on the rise as increased demand from jewellers ahead of the festive season propped up prices.
• The precious metal opened trading at Rs.3,029 per gram before rising on steady overseas demand, as fluctuating dollar rates boosted sales.
• Prices rose to a monthly high of Rs.3,091 per gram on 19 September as the impact of Brexit and the Italian economic crisis fuelled increased investor interest in bullion.
• There was a minor dip in prices as the month ended, with gold trading at Rs.3,074 per gram on 30 September to record a 1.48% rise in price over the course of the month.

Trend of Gold Rate in Tirunelveli for April 2018 to June 2018 (rates per gram of 24 karat gold)

Gold Rate Trend in Tirunelveli for April 2018:

• Trading began for the quarter with gold price in Tirunelveli opening at Rs.3,072 per gram with steady domestic demand amid positive market cues.
• With US dollar regaining lost ground over the next couple of days, gold imports became more expensive. This led to a decline in demand for the precious metal at the domestic level.
• Gold rate in Tirunelveli dropped to a month low of Rs.3,064 per gram on the 6th with poor local demand amid the weak trend overseas.
• However, demand for the bullion picked up over the next two weeks and gold was recorded trading at a monthly high of Rs.3,123 per gram on the 19th.
• Trading concluded for the month with gold price in Tirunelveli holding at Rs.3,123 per gram on the 30th.

Gold Rate Trend in Tirunelveli for May 2018:

• The month opened with gold trading at Rs.3,114 per gram with subdued but steady domestic demand from local industries, jewellers and retailers amid the weak trend overseas.
• With investors banking on the equities amid the strengthening US dollar index, gold rate in Tirunelveli plummeted to Rs.3,103 per gram on the 3rd.
• Strong industrial orders coupled with an increase in retail demand at the domestic level led to gold prices rebounding to Rs.3,213 per gram on the 15th.
• With demand stabilising towards the end of the month, gold rates capped at Rs.3,122 per gram on the last day with subdued but steady local demand from industries, retailers and jewellers.

Gold Rate Trend in Tirunelveli for June 2018:

• The final month of Q2 2018 opened with gold rate in Tirunelveli holding at Rs.3,100 per gram on the 1st with poor domestic demand amid the strengthened US dollar and equities.
• With the US greenback gaining against a basket of other major emerging currencies, demand for the metal plunged during the month.
• On the 24th, gold price in Tirunelveli was recorded at a monthly low of 3,054 per gram following a steep decline in retail demand amid weak global trends.
• The month came to an end with the yellow metal priced at Rs.3,059 per gram on the 30th demand picking up pace amid the firm trend overseas.

Gold Rate Trend in Tirunelveli for January 2018 to March 2018 (per gram of 24 karat gold)

Gold Rate Trend in Tirunelveli for January 2018:

• Gold trade opened in Tirunelveli with bullion prices holding at Rs.3,009 per gram with demand held in check by the strengthening greenback and equity markets.
• Rates dropped to Rs.3,000 per kg - the lowest recorded monthly figure - on the 4th owing to poor domestic demand from local jewellers, retailers and industries.
• The next week saw gold rates recovering as the dollar lost ground following the weaker-than-expected US jobs and payrolls’ report.
• With investors gravitating towards investments considered safer amid the rising inflation concerns, demand for the bullion surged further towards the end of the month.
• The precious metal was recorded trading at Rs.3,129 per gram on the 25th amid the strong trend overseas. This was also the highest figure gold achieved during the month.
• Trading concluded for the month with the yellow metal priced at Rs.3,045 per gram on the 31st with global demand stabilising amid the recovering US dollar.
• Strong market trends coupled with steady domestic demand led to gold rates in Tirunelveli rising by 1.19% during the course of the month.

Gold Rate Trend in Tirunelveli for February 2018:

• The month saw gold rates greatly influenced by the unevenly performing US dollar and inconsistent market trends globally.
• When the month began, gold prices were recorded holding at Rs.3,040 per gram after a rise in the US dollar led to demand dropping at the domestic level.
• Gold rates plunged to their lowest monthly figure of Rs.3,003 per gram on the 8th with domestic demand suppressed by the strong US dollar and equities.
• However, an increase in retail purchases on account of Valentine’s Day eve in the local market led to gold prices surging to Rs.3,103 per gram on the 14th.
• With the US dollar regaining lost ground against other apex currencies, gold demand in Tirunelveli declined towards the end of the month.
• The last saw the yellow metal prices holding at Rs.3,046 per gram on the 28th amid subdued but steady demand from local industries and coin manufacturers.
• Firm trend overseas compounded with positive local demand resulted in prices surging by 0.19% during the month.

Gold Rate Trend in Tirunelveli for March 2018:

• The month of March began with gold rates opening slightly lower at Rs.3,043 per gram on the 1st as the US dollar held on to its gains from the previous session.
• Poor market trends coupled with uneven dollar performances led to rates fluctuating during the next couple of weeks.
• The 19th recorded the lowest monthly figure of Rs.3,030 per gram with the US dollar rising on account of rising equity markets as Rex Tillerson, the US Secretary of State, was fired by the White House.
• Prices, however, improved over the next few days with gold demand rising amid the rising US-China trade war fears.
• On the 24th, the precious metal was recorded trading at Rs.3,105 per gram, thanks to strong safe-haven demand amid strong global cues. This was also the highest figure gold achieved during the month.
• Trading closed for the quarter with the bullion priced at Rs.3,072 per gram on the 31st with demand stabilising amid the recovering dollar and equities.
• Gold prices in Tirunelveli recorded an incline of 0.95% due to the strong geopolitical concerns pushing demand higher for the safe-haven metal during the month.

Gold Rate Trend in Tirunelveli for October 2017 to December 2017 (per gram of 24 karat gold)

Gold Rate Trend In Tirunelveli For October 2017:

• The final quarter of the year began with the bullion trading at Rs.3,040 per gram on the 1st.
• With the possibility of an interest rate hike by the Federal Reserve during the quarter, the US dollar gained against a basket of other emerging currencies. This led to gold rate in Tirunelveli plunging to Rs.2,997 per gram on the 6th.
• However, with the KYC norms being made mandatory, an increase in demand brought about by strong buyer sentiments led to gold price in Tirunelveli rebounding to Rs.3,042 per gram on the 12th.
• Gold rates hit their highest for the month at Rs.3,059 per gram on the 14th amid the positive overseas trends that resulted in increased domestic demand from jewellers, industries and retailers.
• The US dollar, however, regained ground over the next few day amid stronger equities. This led to gold being priced at Rs.3,026 per gram on the 20th.
• With investors and traders speculating over the possibility of a Fed rate hike, gold rates plummeted to Rs.3,000 per gram on the 26th.
• The month ended with the bullion priced at Rs.2,997 per gram on the 31st with markets mulled over by the major central banks’ monetary policy meetings.
• Tirunelveli registered a loss of 1.41% in gold prices amid the poor global trends that pushed demand lower for the metal during the course of the month.

Gold Rate Trend In Tirunelveli For November 2017:

• Trading opened in Tirunelveli with the yellow metal priced at Rs.2,998 per gram on the 1st.
• Prices declined to Rs.2,977 per gram on the 4th after the strengthening US dollar coupled with firmer equities led to a decline in global demand for the metal.
• The 6th saw gold rate in Tirunelveli hitting their lowest at Rs.2,974 per gram before rising to Rs.2,995 per gram on the 7th amid the ongoing US-North Korean conflicts.
• On the 12th, gold was recorded trading at Rs.3,015 per gram with strong domestic demand for the metal brought about by strong global cues.
• Gold rate in Tirunelveli surged to Rs.3,031 per gram on the 18th with the US dollar losing ground against other major emerging currencies and equities performing poorly. This was also the highest recorded figure during the month.
• However, with the US dollar recovering from the previous weeks’ losses, gold prices plunged to Rs.3,012 per gram on the 24th.
• Prices began to decline towards the end of the month after Trump proposed the new US tax bill to overhaul the country’s present tax system at the US Senate.
• Trading concluded with the precious metal trading at Rs.2,992 per gram on the 30th. Gold rates in Tirunelveli registered an incline of 0.13% during the course of the month.

Gold Rate Trend In Tirunelveli For December 2017:

• Gold trade in Tirunelveli opened with the bullion priced at Rs.2,982 per gram on the 1st amid the firm trend overseas.
• However, with the US dollar rates picking up after the approval of the biggest US tax reform plan to overhaul the country’s tax system in thirty years, demand for the yellow metal declined. This led to gold being priced at Rs.2,917 per gram on the 8th.
• The 13th witnessed gold rates hitting their lowest recorded monthly figure of Rs.2,903 per gram with the strengthening US dollar and firmer equities pushing demand lower for the metal.
• With investors speculating over the final result of the US tax reform bill on the US economy, the dollar lost its ground. This led to gold prices rebounding to Rs.2,956 per gram on the 23rd with strong demand from local jewellers, industries and retailers.
• On the 28th, the yellow metal was recorded trading at Rs.2,985 per gram with the strong trends overseas coupled with an increased demand for the metal pushing metal prices higher towards the end of the month.
• When trading closed for the month, the bullion was priced at Rs.3,015 per gram on the 31st with Tirunelveli registering a profit of 1.10% in gold trade during the course of the month.

Gold Rate Trend in Tirunelveli for July 2017 to September 2017 (per gram of 24 karat gold)

Gold rate trend in Tirunelveli for July 2017

• The bullion prices in Tirunelveli were significantly affected with the introduction of GST in the country.
• Gold price in Tirunelveli was at Rs.2,950 per gram, when trading commenced in the city.
• Local demand plunged with the implementation of GST during the month, and the precious metal was trading as low as Rs.2,796 per gram on the 12th. This was also the lowest recorded monthly figure.
• Demand, however, picked up with the US-North Korean stand-off taking centre stage, and the yellow metal was priced at Rs.2,925 per gram on the 31st.
• Gold rate trends in Tirunelveli registered a loss of 0.84% owing to the introduction of GST in the country pushing demand lower despite the positive global cues.

Gold rate trend in Tirunelveli for August 2017

• The month witnessed gold rates picking up as the bullion trade shook off the impact of GST in the country.
• When trading commenced, the precious metal was priced at Rs.2,926 per gram.
• The 3rd recorded the lowest monthly figure of Rs.2,899 per gram as demand declined with the dollar edging higher.
• With the dollar gaining against a basket of emerging currencies, global demand remained low for much of the month.
• However, prices surged to Rs.2,999 per gram on the 29th, as global demand picked up with the US-North Korean overseas relations worsening.
• When trading concluded, the yellow metal was priced at Rs.2,971 per gram on the 30th.
• Gold rates in Tirunelveli inclined at 1.51 % during the month, thanks to an increased global demand from industries worldwide.

Gold rate trend in Tirunelveli for September 2017

• Gold rates in Tirunelveli were largely influenced by the geopolitical concerns in the Korean peninsula and the United States, and the imminent arrival of Dussehra in the country.
• When trading commenced, gold was priced at Rs.2,995 per gram.
• With the diplomatic relations between the US and North Korea deteriorating, investors began gravitating towards investments considered safer like gold. This pushed demand higher for the metal, and gold was trading at Rs.3,102 per gram on the 8th.
• Gold rate in Tirunelveli fluctuated in the sub-Rs.3,040 per gram during the second and third week with the US economy recovering from the initial shock.
• When the month ended, gold was trading at Rs.3,040 per gram on the 30th.
• Strong global cues coupled with increased global demand led to gold rates incline by 1.50% 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.