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 2018 to March 2018 (per gram of 24 karat gold)

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.