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Gold Price in Trichy
Gold is a sought-after precious metal in Trichy as people buy it in the form of intricate jewelry, gold coins and bars among others. It is a sign of prosperity in Trichy and consumers across the city, therefore, buy the precious metal both as a sign of status and traditional investment. Gold rates in Trichy are subject to various developments in India and across the world. Apart from weddings and other celebrations, buying gold here is considered auspicious on occasions such as Akshaya Tritiya when jewelers in the city offer attractive discounts. Gold rates in Trichy are also dependent on the state, local taxes and transportation charges in addition to various other additional costs charged by jewelry stores across Trichy. Intriguingly, several factors influence the buying patterns of consumers in the city of Trichy, including but not limited to, the monsoons and consequently harvest.
Gold as an Investment in Trichy
Jewelry: Most prefer buying gold jewelry as a safe and long term investment for generations. Experts believe an analysis of the history of gold over the years clearly indicate that the precious yellow metal has beaten inflation on a consistent basis. Experts, therefore, suggest that consumers should not get bogged down by short-term price corrections.
Coins: Apart from private jewelers across Trichy, reputed banks such as SBI sell gold coins which minimizes the risk of fraud. Gold coins are available in different sizes - 2, 4, 5, 8, 10, 20 and 50 grams. Banks guarantee the purity of the coins but won’t buy back the gold coins, which is often cited as one of the reasons urging customers to buy coins from jewelers instead. Also, there is a premium to be paid for buying gold from banks.
ETFs: Since it is traded like stocks on an exchange, ETF is eligible for long-term capital gains after one year (physical gold is eligible for long-term capital gains after three years). There is no risk of theft and no hassles in terms of storage costs. Some of the advantages are no sales tax, wealth tax or VAT are applicable on gold ETFs.
Trend of Gold Rate in Trichy for August 2016 (rates per gram for 24k Gold)
|First Day||Rs.3,201 per gram|
|Last Day||Rs.3,142 per gram|
|Highest Price||Rs.3,229 per gram on 3rd August|
|Lowest Price||Rs.3,142 per gram on 31st August|
August '16 - Weeks 1 (1st to 7th)
- The growth rate in the U.S. was much lower than expected.
- Gold traded at Rs.3,201 per gram at the beginning of the week.
- Prices fluctuated as the dollar dropped and there was an upswing in the global market.
- The highest price for the month of August fell on 3rd when gold traded at Rs.3,229 per gram.
- Towards the end of the week, prices dropped to Rs.3,171 per gram.
August '16 - Week 2 (8th to 14th)
- Gold traded at Rs.3,148 per gram on 8th August.
- Increased demand from domestic jewellers in light of the approaching festivals resulted in prices rising.
- In the markets overseas, there was an surge in gold prices as investors put away all expectations of a Fed rate hike this month.
- Gold traded at Rs.3,198 per gram on 10th August, the highest for the week.
- The second week of August closed with gold trading at Rs.3,181 per gram,indicating an overall increasing trend.
August '16 - Week 3 (15th to 21st)
- The rising trend continued into week 3 as steady demand flowed into the domestic market as jewellers and coin makers prepare for the auspicious festivals up ahead.
- On 15th August, gold traded at Rs.3,181 per gram.
- Prices rose to Rs.3,203 on 19th August, the highest for the week.
- Gold rates maintained stability, but is expected to drop as the U.S. Federal Reserve is confident that an interest rate hike is possible and further delays of the hike could lead to other economic risks.
- Gold traded at Rs.3,200 per gram at the end of the week.
August '16 - Week 4 (22nd to 28th)
- Gold rates started sliding down as the prospects of an interest rate hike by the U.S. Federal Reserve grew strong.
- Gold traded at Rs.3,184 per gram on 22nd August, but saw a slight increase over the next two days owing to domestic demand.
- Prices started to slip on 25th August on account of a firm dollar.
- By the end of the week, there was a decline of 0.62% with gold trading at Rs.3,164 per gram.
August '16 - Week 5 (29th to 31st)
- The pressure of an interest rate hike was building up and the global markets felt the impact.
- Gold rates dropped to its lowest for the month of August on 31st when it traded at Rs.3,142 per gram.
- Demand in the domestic market dropped as well, but it is expected to pick up again as the auspicious festivals approach.
|1st July Rate||Rs.3,129 per gram|
|31st July Rate||Rs.3,214 per gram|
|Highest Rate in July||Rs.3,244 per gram on 30th and 31st July|
|Lowest Rate in July||Rs.3,118 per gram on 25th July|
|Overall Performance||Increase in price|
|% Change||+2.71% increase|
July'16 - Week 1 (1st to 3rd)
- Gold prices fell for during the week as market demand was low.
- Domestic demand did not reflect the global trend of higher demand.
- Gold traded at Rs.3,124 per gram as the week ended.
July'16 - Week 2 (4th to 10th)
- Prices rose as demand increased.
- The Dollar made slow gains as the week progressed, leading to demand dropping.
- As markets recovered, gold prices fell, with gold trading at Rs.3,162 per gram, a difference of Rs.12 from the start of the week.
July'16 - Week 3 (11th to 17th)
- The strengthening Dollar led to falling demand for gold.
- Prices were more or less stable but slipping downwards as the markets continued to hold steady.
- Gold retailed at Rs.3,126 per gram as the week ended.
July '16 - Week 4 (18th to 24th)
- Prices dipped further as domestic demand reflected international trends.
- Stabilising markets and a strong Dollar led investors away from gold.
- Gold traded at Rs.3,130 per gram, a difference of Rs.10 from the beginning of the week.
July‘16 - Week 5 (25th to 31st)
- Initially, prices continued to fall but rose as the week ended.
- The poor economic data from the U.S. led to the stock markets falling and the Dollar weakening.
- Gold demand shot up, trading at Rs.3,214 per gram at the end of the week, an increase of Rs.96 from the start of the week.
|1st June rate||Rs.2,934|
|30th June rate||Rs.3,105|
|Highest rate in June||Rs.3,122 per gram on 16th June|
|Lowest rate in June||Rs.2,916 per gram on 3rd June|
Jun'16 - Week 1 (1st to 4th)
- Gold opened at Rs.2,934 per gram on the 1st which was also one of the lower rates per month and remained more or less within the same range throughout the week.
- There was a slight decrease noted in the price of gold and on the 3rd, the price was Rs.2,916 per gram which was the lowest for the entire month.
- An increase in price was noted on the 4th at Rs.2,974 per gram which continued till the 5th.
- There were minor fluctuations in the rate of gold for the first week.
Jun'16 - Week 2 (5th to 11th)
- Although the rate of gold was around the Rs.2,000 per gram mark, a gradual increase in price was noted with minor fluctuations here and there.
- Gold traded at Rs.2,974 per gram on the 5th and decreased slightly after that.
- Rates remained steady at Rs.2,968 per gram on the 6th and 7th of June.
- A rise in prices was noted after the 7th at Rs.2,983 per gram and Rs.2,997 per gram on the 9th.
- At the end of the week, gold closed at Rs.3,039 per gram which was also the highest for the week.
Jun'16 - Week 3 (12th to 18th)
- Gold traded at Rs.3,039 per gram on the 12th and steadily increased with a few variations.
- Rate of gold varied between Rs.3,064 per gram to Rs.3,059 per gram between the 13th and the 15th.
- Rate of gold was Rs.3,122 per gram on the 16th which was the highest rate for the month.
- Gold rate slightly reduced thereafter closing at Rs.3,087 per gram on the last day of the month.
Jun'16 - Week 4 (19th to 25th)
- Price of gold was Rs.3,087 per gram at the beginning of the week and decreased slightly after that.
- Rate of gold varied between Rs.3,076 per gram and Rs.3,035 per gram between the 20th and 22nd of June.
- Price of gold reduced even further on the 23rd of June to Rs.3,023 per gram which was the lowest for the week.
- Gold rate was steady at Rs.3,165 per gram on the 24th of June and 25th of June.
Jun'16 - Week 5 (26th to 30th)
- There were minor fluctuations in the rate of gold in the final week of the month. However, rates were above the Rs.3000 mark.
- The rate of gold on the 26th was Rs.3,165 per gram and increased slightly on the 27th to touch Rs.3,180 per gram.
- However, rate of gold plummeted after this to hover between Rs.3,109 to Rs.3,105 per gram between the 28th and the 30th of June.
- A slight increase was noted in the price of gold on the 29th with price of gold being Rs.3,117.50 per gram.
|1st May rate||Rs.3,069|
|31st May rate||Rs.2,914|
|Highest rate in May||Rs.3,076 on the 2nd of May|
|Lowest rate in May||Rs.2,899 on the 31st of May|
|Overall performance||Loss / Negative|
May'16 - Week 1 (1st to 7th)
- Gold rates fluctuated during the first week of May.
- Prices were recorded at Rs.3,069 on the 1st day of the month and Rs.3,050 on the 7th.
- Gold rates increased by Rs.7 on the second day of trading followed by loss of Re.1 on the third day after which they fell by Rs.27 on the fourth day and again by Rs.9 on the fifth.
- An increase of Rs.6 was recorded in prices on the sixth of the month, followed by an increase of Rs.5 on the last day of the week to close at Rs.3,050.
May ‘16 - Week 2 (8th to 14th)
- Gold rates increased by Rs.23 on the first day of the second week and prices were recorded at Rs.3,073 on the 8th of May.
- A decline by Rs.32 on the second day of the week saw prices fall to Rs.3,041.
- Prices fell by Rs.18 on the third day of the week and then increased by Rs.19 on the fourth day and then fluctuated for the next three days to close the week at Rs.3,051.
- There was an overall decline in prices over the course of the week, albeit by just Rs.22.
May ‘16 - Week 3 (15th to 21st)
- Gold prices remained unchanged on the first day of the third week of May at Rs.3,051 and remained unchanged for another day.
- Prices then fell by Rs.14 to Rs.3,037 on the 17th after which a rise of Rs.4 on the 18th saw prices rise to Rs.3,041.
- Rates fell by Rs.23 on the 19th and remained at Rs.3,018 until the 20th after which a decline of Rs.3 was recorded and the price of the precious metal at the close of the week was recorded at Rs.3,015.
- Gold prices recorded a further decline at the end of the week in comparison with the first day of the week.
May ‘16 - Week 4 (22nd to 31st)
- Gold prices remained constant on the first day of the fourth week of May, after which prices continued to fall for the next three days and were recorded at Rs.2,946 on the 25th of the month.
- Prices rose by Rs.6 on the 26th followed by a decline of Rs.27 on the 27th.
- A decline of Rs.9 was then recorded on the 28th of the month and prices remained unchanged at Rs.2,916 until the 29th.
- The lowest price of gold in May was recorded on the 30th of the month as prices fell to Rs.2,899 after which an increase of Rs.15 saw the precious metal finish the month at Rs.2,914 per gram.
- Gold prices fell by Rs.155 between the first and last day of May.
|1st April rate||Rs 2,890|
|30th April rate||Rs 3,069|
|Highest rate in April||Rs 3,069 on 30th|
|Lowest rate in April||Rs 2,869 on 4th|
|% Change||+ 6.19%|
Apr ‘16 - Week 1 (1st to 3rd)
- A cautious approach by investors combined with statements on a US Federal rate change saw demand for gold dip.
- Gold traded at Rs 2,890 on 1st, before dropping marginally.
- The week ended with gold trading at Rs 2,877, highlighting an overall drop in rates.
Apr ‘16 - Week 2 (4th to 10th)
- Prices dropped to Rs 2,869 on 4th, before picking up.
- An overall increase in rates was witnessed during the week.
- Prices changed on a daily basis, ending the week on Rs 2,944.
Apr ‘16 - Week 3 (11th to 17th)
- This was a mixed week for gold, as prices changed on a daily basis.
- Gold traded at Rs 2,950 on 11th, peaking at Rs 2,975 on 12th.
- A steady drop in rates was witnessed post this, as rates dropped to a low of Rs 2,934 on 14th.
- Rates picked up over the next two days, ending the week on Rs 2,957.
Apr ‘16 - Week 4 (18th to 24th)
- An overall drop was seen in gold rates during the week.
- It was a mixed week for gold, as both highs and lows were witnessed.
- Gold traded at Rs 2,960 on 18th, peaking at Rs 2,998 on 21st.
- Gold prices fell post 21st, ending the week on Rs 2,958.
Apr ‘16 - Week 5 (25th to 30th)
- Gold rates appreciated during the final week of April.
- The week began with gold trading at Rs 2,962.
- Prices crossed the Rs 3,000 mark on 29th, peaking at Rs 3,069 on 30th.
- The rates witnessed on 30th were the highest for the month.
|1st March rate||Rs 2,976|
|31st March rate||Rs 2,891|
|Highest rate in March||Rs 2,991 on 8th, 9th and 10th|
|Lowest rate in March||Rs 2,699 on 11th|
Mar'16 - Week 1 (1st to 6th)
- Gold rates were Rs 2,976 on March 1st.
- Protests against an excise duty hike led to market trade being suspended during the week.
- Gold rates stayed steady at Rs 2,976 for this entire duration.
Mar'16 - Week 2 (7th to 13th)
- Rates fell from Rs 2,976 to Rs 2,970 on the 7th.
- Protests against government decisions continued, leading to static rates for most of the week.
- Prices increased to Rs 2,991 on 9th and stayed steady before falling to Rs 2,699 on 11th.
- Gold rates jumped by Rs 20, ending at Rs 2,989 on 13th.
Mar'16 - Week 3 (14th to 20th)
- Gold rates dropped to Rs 2,950 on March 14th.
- Protests impacted rates, as prices dropped for most of the week.
- Rates dipped to a low of Rs 2,926 on 17th, before climbing to Rs 2,949 on 18th and ending at Rs 2,940.
Mar'16 - Week 4 (21st to 27th)
- Both an increase and decrease in rates was witnessed during the week.
- Gold prices fell to Rs 2,914 on 21st, before jumping to Rs 2,943 the next day.
- Gold rates fell for the next two days, dropping to Rs 2,892 before stabilising at Rs 2,896.
Mar'16 - Week 5 (28th to 31st)
- Gold rates steadily increased this week, before dropping on 31st.
- Gold rates initially fell by Rs 22 on 28th, ending at Rs 2,874.
- Rates picked up, crossing the Rs 2,900 mark on 30th, going to a high of Rs 2,910.
|1st February rate||Rs.2,720|
|29th February rate||Rs.2,984|
|Highest rate in February||Rs.2,984 on 25th and 29th|
|Lowest rate in February||Rs.2,720 on 1st|
Feb '16 - Week 1 (1st to 7th)
- Gold rates appreciated in the 1st week.
- Prices were Rs.2,720 on 1st and Rs.2,813 on 7th.
- Gold gained value on all days of the week, ending the week at a cumulative gain of Rs.93.
Feb '16 - Week 2 (8th to 14th)
- Gold rates rose again in the 2nd week.
- Prices were Rs.2,815 on 8th and Rs.2,936 on 14th.
- Gold gained an overall amount of Rs.121 during the 2nd week, rising to a high of Rs.2,961 on 12th before settling at Rs.2,936 for the week.
Feb '16 - Week 3 (15th to 21st)
- Gold gained more value in the 3rd week.
- Prices were Rs.2,889 on 15th and Rs.2,973 on 21st.
- Gold gained Rs.84 over the 3rd week, ending just shy of Rs.3,000-mark.
Feb '16 - Week 4 (22nd to 29th)
- Gold prices appreciated in the 4th week as the net gain in February breached 4-year high records.
- Prices were Rs.2,928 on 22nd and Rs.2,984 on 29th.
- Gold prices fluctuated in the 2,900s all through the week.
|4 th January rate||Rs.2,569|
|31 st January rate||Rs.2,710|
|Highest rate in January||Rs.2,719 on 28th|
|Lowest rate in January||Rs.2,569 on 4th|
Jan'16 -Week 1 (4 th to 10 th )
- Gold rates appreciated during the 1st week of January.
- Prices were Rs.2,569 on 4th and Rs.2,635 on 10th.
- Gold traded positively till 7th to settle at Rs.2,629.
- Rates dropped marginally to Rs.2,626 on 8th before rising back to Rs.2,635 on 9th and 10th.
Jan'16 -Week 2 (11 th to 17 th )
- Gold rates rose again in the 2nd week.
- Prices were Rs.2,632 on 11th and Rs.2,654 on 17th.
- Gold started weaker by dropping to Rs.2,593 by 13th but rallied over the next 3 days to close at Rs.2,654 by 16th and 17th.
Jan'16 -Week 3 (18 th to 24 th )
- Gold had some more positive sessions during the 3rd week.
- Prices were Rs.2,642 on 18th and Rs.2,660 on 24th.
- Gold rose consistently to Rs.2,676 by 21st.
- Prices dropped by Rs.18 to Rs.2,658 on 22nd before touching at Rs.2,660 by 24th.
Jan'16 -Week 4 (25 th to 31 st )
- Gold gained value again in the 4th week as a weaker dollar and increased domestic demand from jewellers fuelled rates.
- Prices were Rs.2,678 on 25th and Rs.2,710 on 31st.
- Gold rose for the most part of the week except on 29th when it fell marginally.
|1st December rate||Rs.2,565|
|31st December rate||Rs.2,534|
|Highest rate in December||Rs.2,598 on 5th and 6th|
|Lowest rate in December||Rs.2,521 on 3rd|
- Gold rates were up in the 1st week of the month.
- Prices were Rs.2,565 on 1st and Rs.2,593 on 7th.
- Gold dropped to Rs.2,521 on 3rd but rallied by Rs.77 in the next two days to settle at Rs.2,598 by 5th.
- Prices dropped marginally on 7th by Rs.5 to end at Rs.2,593.
- Gold rates decreased in the 2nd week of December.
- Prices were Rs.2,572 on 8th and Rs.2,570 on 14th.
- Gold rose to Rs.2,581 on 9th but lost value on 10th and 11th to rest at Rs.2,562.
- There was a gain of Rs.31 on 12th and loss of Rs.23 on 14th.
- Gold rates were mostly stable over the course of 3rd week.
- It was priced at Rs.2,559 on 15th and Rs.2,559 on 21st.
- Prices reached a low of Rs.2,526 on 18th before gaining on the remaining days to end the week at Rs.2,559 once more.
- Gold rates declined in the last days of the month.
- Prices were Rs.2,573 on 22nd and Rs.2,534 on 31st.
- Prices hovered between Rs.2,553 to Rs.2,565 till 30th.
- Gold lost Rs.20 on the last day of the month to end at Rs.2,534.
|1st November rate||Rs.2,676|
|Highest rate in November||Rs.2,682 on 2nd|
|Lowest rate in November||Rs.2,544 on 30th|
- Gold rates declined in the 1st week of the month.
- Prices were Rs.2,676 on 1st and Rs.2,608 on 7th.
- Gold appreciated marginally to Rs.2,682 on 2nd before falling continuously for the next 3 days to settle at Rs.2,624 by 5th.
- Gold appreciated marginally to Rs.2,626 on 6th before dropping to Rs.2,608 on 7th.
- Gold rates decreased in the 2nd week of November.
- Prices were Rs.2,608 on 8th and Rs.2,582 on 14th.
- Gold stayed above Rs.2,600 mark till 11th when it was priced at Rs.2,609.
- Prices fell for the remaining part of the week to settle at Rs.2,582 by 14th.
- Gold rates were mostly stable over the course of 3rd week.
- It was priced at Rs.2,582 on 15th and Rs.2,570 on 21st.
- Gold stayed between Rs.2,563 and Rs.2,581 through the week except for 18th when prices dropped to Rs.2,557.
- Gold rates declined again in the final days of the month.
- Prices were Rs.2,571 on 22nd and Rs.2,544 on 30th.
- Gold stayed around the Rs.2,570 level for most of the 4th week, before dropping to Rs.2,554 on 28th and 29th.
- Prices dropped further on the last day of November to settle at Rs.2,544.
Gold Price Trends in Trichy
22 karat: One gram of gold is currently pegged at Rs. 2,539. Gold rates in Trichy have been witnessing minor fluctuations in that the yellow metal was pegged at Rs. 2,552 in the month of May. Towards the end of April, gold rate stood at Rs. 2,568 while it was Rs. 2,481 Rs. 2,532 and Rs. 2,665 in the months of March, February and January respectively this year.
24 karat: One gram of gold is currently priced at Rs. 2,715. The yellow metal in Trichy has been witnessing minor fluctuations in that one gram of gold was pegged at Rs. 2,729 in May. Towards the end of April, gold rate stood at Rs. 2,747 while it was Rs. 2,654, Rs. 2,708 and Rs.2,850 in the months of March, February and January respectively this year.
Where to Buy Gold in Trichy?
Trichy boasts of several jewelry showrooms such as Mangal & Mangal Thanga Maligai, Lalithaa Jewellery, New Lakshmi Jewellery GRT Jewellers, L K S Jewel House and Maalyaa Designer jewellery among others.
- Also Check: Gold Rate in Tamil Nadu
Also Check Gold Price in NearBy Cities of Trichy
|Also Know: Silver Rate in Trichy|
Read more on Gold
- Why Investing In Gold Is A Golden Opportunity
- Gold Rates Fluctuation – Why Gold Is On A Roller Coaster Ride
- What Do the Markings on Gold Mean?
- All that you need to know about the Gold Monetization Scheme
- Auspicious Days to Buy Gold in 2016
News About Trichy Gold Rate
Gold Breaks 2-day Losing Streak
Gold prices rose by 1% in global markets on Tuesday, breaking a 2-day losing streak as stock markets in Asia fell on the back of falling oil prices and the Fed’s interest review outlook was mixed. The Nikkei in Japan fell by 2.4%.
The US growth data showed lower than expected spending on capital goods while there was also drop in orders for manufactured things.
6th April 2016
Spot gold falls as the dollar rises
Spot gold fell to $1242.60 per tonne after seeing a 14-month peak of $1282.51. Experts feel that the upcoming Easter holiday might help the market consolidate. Experts feel that the central banks of various countries are not left with any more easing steps to help gold. Despite the relative slow growth of the US economy, experts see signs of rising inflation. Other precious metals like platinum and palladium saw a decrease of half per cent in their value.
22nd March 2016
Gold prices up on account of weak dollar
Gold prices continued to crawl their way up, with a weak dollar giving them the much needed stimulus. Prices were up by 0.94%, as gold traded at Rs 29,616 for 10 grams on the MCX. Current indications hint at gold trading in the range of Rs 29,080 and Rs 29,950 per 10 grams today, with an increase in costs expected.
4th March 2016
Gold prices hit a new 2 year high
The price of gold went up to Rs. 56,000 for a tola, this was a Rs. 300 hike from the price on Tuesday. The increase of this magnitude was last seen in March 2014. The demand has risen drastically for the precious metal in the last few weeks, as it has proved to be a safe-haven assets when compared to the risks of the equities markets. The international market trends, determine the the domestic rate of gold. Even investors are focusing of Gold ETFs since the inflows of this year itself has surpassed the outflows of the entire year of 2015. Gold has been the best performing asset of the year, silver as well eased in the international markets by 0.3% the price however, remained steady at Rs. 735 for a tola in the domestic market.
25th February 2016
Gold at its highest since 2011
Gold gained for the eighth day straight with investors seeking the precious metal as a safe haven, at a point when there is instability in the financial market. Though liquidity was slow in Asia, gold rallied its highest in the bullion market.
Spot gold prices increased by 0.2% at $1,193 an ounce. On Monday February 08, 2016, the price of the yellow metal rose as high as $1,200.60, its strongest since June 22 last year. In case gold sustains its gains later on Tuesday, it would be its longest rally since an 11-day run in July 2011.
09th February 2016