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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 February 2018 (rates per gram for 24 karat gold)
|Parameters||Gold price (24 karat)|
|Gold Rate on 1st February 2018||Rs.3,040 per gram|
|Gold Rate on 28th February 2018||Rs.3,046 per gram|
|Highest Rate in February||Rs.3,103 per gram on 14 February|
|Lowest Rate in February||Rs.3,003 per gram on 8 February|
|Overall Monthly Performance||Incline|
Trend of Gold Rate in Trichy for January 2018 (rates per gram for 24 karat gold)
|Parameters||Gold price (24 karat)|
|Gold Rate on 1st January 2018||Rs.3,009 per gram|
|Gold Rate on 31st January 2018||Rs.3,045 per gram|
|Highest Rate in January||Rs.3,084 per gram on 20 and 21 January|
|Lowest Rate in January||Rs.3,000 per gram on 4 January|
|Overall Monthly Performance||Incline|
January 2018 - Week 1 (1st to 7th):
- When the month began in Trichy, the yellow metal was recorded trading at Rs.3,009 per gram on the 1st.
- Prices remained unaltered at Rs.3,009 per gram the next day with steady demand from local jewellers, retailers and industries amid positive overseas trends.
- Prices rose to Rs.3,014 per gram on the 3rd before plunging to Rs.3,000 per gram on the 4th following the release of the higher anticipated US employment data.
- The US job data, however, proved to be weaker than expected and pushed the US dollar lower in the global market. This led to gold rate in Trichy rebounding to Rs.3,015 per gram on the 5th.
- With the US dollar index losing a basket of other emerging currencies, gold price in Trichy surged further to Rs.3,021 per gram the following day.
- Strong global cues coupled with steady domestic demand resulted in gold prices remaining unchanged at Rs.3,021 per gram for the rest of the week.
January 2018 - Week 2 (8th to 14th):
- The second week commenced with the bullion priced at Rs.3,015 per gram on the 8th after a rise in the US dollar value led resulted in a reduced demand for the metal.
- Gold rate in Trichy rebounded to Rs.3,021 per gram the next day before plummeting to Rs.3,009 per gram on the 10th with the US regaining lost ground in the world markets.
- With the US dollar losing significantly and gold rates hitting record highs over the next few day, demand for the metal surged.
- On the 11th, the yellow metal was recorded trading at Rs.3,030 per gram amid the positive overseas trends.
- The poorly performing equities coupled with the weakened greenback resulted in gold price in Trichy nearing seven-week highs in the bullion market. The precious metal was priced at Rs.3,045 per gram on the 12th which rose further to Rs.3,048 per gram the following day.
- As the week came to an end, an increase in domestic demand from local jewellers, retailers and industries amid strong global cues resulted in gold being priced at Rs.3,068 per gram on the 14th.
January 2018 - Week 3 (15th to 21st):
- The week began with the yellow metal trading at Rs.3,071 per gram on the 15th with a slight increase in domestic demand for the metal.
- Strong investor sentiments coupled with firm trends overseas led to gold rate in Trichy rising to Rs.3,086 per gram on the 16th.
- However, with the greenback regaining lost ground over the next few days, the precious metal was priced at Rs.3,082 per gram on the 17th which further dropped to Rs.3,061 per gram on the 18th.
- The 19th witnessed gold price in Trichy rising slightly to Rs.3,064 per gram before surging further to Rs.3,084 per gram on the 20th with investors speculating over a possible US government shutdown.
- The week concluded with the bullion prices holding steady at Rs.3,084 per gram after investors hedged on the precious metal against the US government shutdown concerns.
January 2018 - Week 4 (22nd to 28th):
- Trading began in Trichy with the yellow metal priced at Rs.3,078 per gram on the 22nd with demand declining against the strengthening dollar and equities.
- The 23rd, however, saw gold rate in Trichy rebounding to Rs.3,087 per gram with the US dollar index losing against a basket of other major emerging currencies in the global trade.
- Steady domestic demand coupled with strong trends overseas resulted in gold price in Trichy remaining unaltered at Rs.3,087 per gram on the 24th.
- With the US greenback touching record low figures and gold closing in on near 16-month highs in the bullion market, prices surged to Rs.3,129 per gram - the highest recorded monthly figure - on the 25th.
- The next couple of days saw demand for the metal declining with the US dollar regaining lost ground from the previous streak of losses.
- When trading concluded for the week, the precious metal was priced as low as Rs.3,043 per gram on the 28th owing to reduced domestic demand amid the poor global cues.
January 2018 - Week 5 (29th to 31st):
- The last week commenced with the yellow metal prices holding at Rs.3,043 per gram on the 29th with steady domestic demand from the previous week.
- However, with the US dollar rising against other apex currencies, gold rate in Trichy plunged to Rs.3,030 per gram on the 30th.
- With investors and markets mulled over the US Federal Reserve’s two-day monetary policy meeting due next month, the US dollar value declined. This led to gold being priced at Rs.3,045 per gram on the last day.
- Gold price in Trichy registered an incline of 1.33% in bullion prices during the course of the month.
Trend of Gold Rate in Trichy for December 2017 (rates per gram for 24 karat gold)
|Parameters||Gold price (24 karat)|
|Gold Rate on 1st December 2017||Rs.2,982 per gram|
|Gold Rate on 31st December 2017||Rs.3,015 per gram|
|Highest Rate in December||Rs.3,015 per gram on 30 and 31 December|
|Lowest Rate in December||Rs.2,903 per gram on 13 December|
|Overall Monthly PerformanceMa||Incline|
December 2017 – Week 1 (1st to 10th)
- The dollar rate stayed firm even after the reports on the U.S. jobless data were announced. The economic growth uplifted and strengthened the currency, which commenced the gold to trade at Rs.2,982 per gram on 1 December.
- However, on 2 December, the U.S. share market fell. This led the dollar rate to drop slightly and inclined the gold rates in Trichy to Rs.3,002 per gram.
- With the revised U.S. Republican Tax Improvement Bill and decline in the shares, the gold price remained untouched at Rs.3,002 per gram on 3 December.
- On 4 December, the US Senate cleared the pending landmark bill and reconciled the differences in legislation, which inclined the dollar rate and plummeted the gold price to Rs.2,971 per gram.
- The metal price marginally rose to Rs.2,972 per gram on 5 December with a stable demand in overseas.
- After the U.S. Federal Reserve meeting on the monetary policy, the interest rates raised and the rates plunged to Rs.2,962 per gram on 6 December amidst a firming dollar.
- Gold price in Trichy traded at Rs.2,942 per gram on 7 December and fell further to Rs.2,917 per gram on 8 December amidst a good dollar index. This was also the lowest price of the week.
- From 8 – 10 December, the demand from the local jewellers and other retailers spurred, which led the metal being traded at Rs.2,927 per gram.
December 2017 – Week 2 (11th to 17th)
- Regardless of positive demands from the global market, both the Asian and Indian markets showed some impetus to progress growth. With this, gold trade in Trichy opened with Rs.2,911 per gram on 11 December.
- Gold rates plummeted to Rs.2,908 per gram on 12 December with an incline in the U.S. dollar rate.
- However, the price decreased further to Rs.2,903 per gram on 13 December and recorded to the lowermost of the month with a huge demand from the local jewellers.
- On 14 December, the U.S. Federal Reserve raised the interest rates, which led the dollar rate to fall. This reflected in the Indian gold market and incline the rates. However, the demand continued to go up with the precious metal trading at Rs.2,924 per gram in Trichy.
- Gold demand was unsustainable, which led the price to plummet to Rs.2,918 per gram on 15 December and Rs.2,917 per gram on 16 December.
- On 17 December, the dollar weakened and inclined gold rate to Rs.2,927 per gram.
December 2017 – Week 3 (18th to 24th)
- Gold was trading at Rs.2,923 per gram on 18 December with a good demand from the domestic gold market.
- However, on 19 December, the price rose to Rs.2,928 per gram after a sudden growth in the equity market.
- Rates inclined further to Rs.2,931 per gram on 20 December amidst strong international cues coupled with high local demands.
- With respect to a decline in the Asian stock market after the revised U.S. tax bill, the gold rates for the next few days increased gradually. The precious metal was recorded at Rs.2,933 per gram on 21 December and augmented a little more to Rs.2,935 per gram on 22 December.
- On 23 December, the rates plummeted to Rs.2,956 per gram with a good demand from the local jewellers and in overseas.
- The week ended with gold being traded at Rs.2,956 per gram on 24 December with a good domestic demand.
December 2017 – Week 4 (25th to 31st)
- Gold rates in Trichy were priced at Rs.2,947 per gram on 25 December and the entire week saw inclinations due to several factors.
- With respect to the rising global trends, the precious metal inclined to Rs.2,956 per gram on 26 December.
- On 27 December, however, the U.S. dollar rate weakened against other apex currencies and led the gold rate to incline by Rs.18. The yellow metal was trading at Rs.2,974 per gram.
- The U.S. dollar rate continued to decline, which inclined the gold rate to Rs.2,985 per gram and remained unaltered on 29 December.
- The price inclined further to Rs.3,015 per gram on 30 December and remained the same on 31 December due to the continuing geopolitical issues.
- Overall, the month saw an incline of 1.10% due to the fluctuations in inflation rates.
Trend of Gold Rate in Trichy for November 2017 (rates per gram for 24 karat gold)
|Parameters||Gold price (24 karat)|
|Gold rate on 1st November 2017||Rs.2,988 per gram|
|Gold rate on 30th November 2017||Rs.2,992 per gram|
|Highest Rate in November||Rs.3,030 per gram on 18 and 19 November|
|Lowest Rate in November||Rs.2,974 per gram on 6 November|
|Overall Monthly Performance||Incline|
November 2017 - Week 1 (1st to 5th)
- When trading commenced for the month, gold was priced at Rs.2,988 per gram on the 1st of November.
- A strong dollar index coupled with firmer equities led to gold rate in Trichy declining during the week.
- Gold was trading at Rs.2,985 per gram on the 2nd before plunging to Rs.2,979 per gram the next day after the US dollar gained against other major emerging currencies.
- Reduced domestic demand amid the poor global cues led to the precious metal being priced at Rs.2,977 per gram on the 4th.
- Gold rate in Trichy stabilised at Rs.2,977 per gram on the 5th owing to a steady demand from local jewellers, retailers and industries..
November 2017 - Week 2 (6th to 12th)
- Strong international trends compounded by an increase in local demand the metal resulted in gold rate in Trichy improving significantly during the week.
- The week commenced with gold trading at Rs.2,974 per gram - the lowest recorded monthly figure - on the 6th.
- However, with the dollar losing its sheen amid the possibilities of a Fed rate hike in December, gold price in Trichy recovered to Rs.2,995 per gram on the 7th, which further rose to Rs.3,002 per gram the following day.
- Gold rate in Trichy continued to rise as the week progressed with the precious metal priced at Rs.3,008 per gram on the 9th before stabilising at Rs.3,015 per gram on the 10th with steady domestic demand for the metal from local industries, retailers and jewellers.
- The rest of the week witnessed prices remaining untouched at Rs.3,015 per gram owing to strong global cues coupled with improved demand for the metal.
November 2017 - Week 3 (13th to 19th)
- Prices fluctuated for much of the week owing to demand vagaries in the bullion trade amid the uneven global cues.
- The week commenced with the precious metal trading at Rs.3,014 per gram on the 13th.
- Though gold rate in Trichy plunged to Rs.3,007 per gram on the 14th with the strengthening of the dollar, strong orders from local jewellers and industries led to prices rebounding to Rs.3,018 per gra on the 15th.
- However, the next couple of days saw prices plummeting to Rs.3,007 per gram with the dollar losing against other major emerging currencies and equities performing poorly.
- On the 18th, gold rate in Trichy rose to Rs.3,031 per gram after local demand surged amid the positive trends overseas. This was also the highest recorded monthly figure in Trichy.
- The week ended with the yellow metal trading steady at Rs.3,031 per gram on the 19th, thanks to strong domestic amid the positive trends overseas.
November 2017 - Week 4 (20th to 26th)
- The fourth week commenced with gold priced relatively lower at Rs.3,025 per gram on the 20th with demand declining from the previous week.
- However, with the US dollar and global markets recovering during the week, the yellow metal prices were recorded at Rs.3,004 per gram and Rs.3,005 per gram on the 21st and the 22nd respectively.
- The 23rd witnessed gold rate in Trichy rebounding to Rs.3,013 per gram before dropping marginally to Rs.3,012 per gram the next day due to a decline in domestic demand amid the poor global trends.
- Strong domestic demand despite the strong dollar and firmer equities led to gold being priced at Rs.3,014 per gram on the 25th.
- The precious metal was priced at Rs.3,014 per gram on the 26th, thanks to steady demand from local jewellers, retailers and industries.
November 2017 - Week 5 (27th to 30th)
- The bullion opened at Rs.3,011 per gram on the 27th as the final week began in the city with reduced domestic demand amid the weak overseas trends.
- The rest of the week saw metal prices declining after Trump proposed a new tax reform plan to overhaul the US tax system in the US Senate. This led to the precious metal being priced at Rs.3,008 per gram on the 28th and the 29th.
- Strong dollar index coupled with firmer equities resulted in the bullion being priced as low as Rs.2,992 per gram on the last day.
- The month ended with Trichy registering a profit of 0.13% during the month of November.
|Parameters||Gold price (24 karat)|
|Gold Rate on 1st October 2017||Rs.3,040 per gram|
|Gold Rate on 31st October 2017||Rs.2,997 per gram|
|Highest Rate in September 2017||Rs.3,059 per gram on 15 to 15 October|
|Lowest Rate in September 2017||Rs.2,997 per gram on 6, 27, 30, and 31 October|
|Overall Monthly Performance||Decline|
October 2017 - Week 1 (1st to 8th):
- The bullion metal opened trading at Rs.3,040 per gram on account of steady demand from local jewellers and industries.
- The next few days witnessed gold rate in Trichy declining significantly with the dollar strengthening amid the possibility of an interest rate hike by the US central bank in December. The precious metal was priced at Rs.3,010 per gram on the 3rd.
- Firm equity markets and strong dollar rates during the week led to gold being priced at Rs.3,009 per gram and Rs.3,005 per gram on the 4th and 5th respectively.
- Poor global demand despite strong favourable geopolitical concerns led to the yellow metal prices dropping to Rs.2,997 per gram - the lowest recorded monthly figure - on the 6th.
- Prices, however, surged over the next couple of days with the government making KYC (know your customer) mandatory throughout the country. This led to gold price in Trichy surging to Rs.3,017 per gram on the 7th and the 8th.
October 2017 - Week 2 (9th to 15th):
- Gold trade in Trichy saw prices improving due to strong international trends coupled with the arrival of the festive season during the week.
- The week began with the yellow metal priced at Rs.3,027 per gram on the 9th.
- Domestic bullion trade improved with the mandated KYC norms having boosted buyer sentiments. This led to an increased local demand pushing prices higher to Rs.3,041 per gram on the 12th.
- However, the 13th witnessed gold rate in Trichy plunging to Rs.3,031 per gram after global demand subdued amid a strong US greenback.
- The domestic bullion trade surged the next day following an increased buying from local jewellers, industries and retailers amid strong positive global trends. This led to gold price in Trichy rising to Rs.3,059 per gram on the 14th. This was also the highest recorded monthly figure in Trichy.
- Prices remained unchanged at Rs.3,059 per gram the next day as well owing to the arrival of the festive season that pushed local demand higher.
October 2017 - Week 3 (16th to 22nd):
- The third week saw gold rate Trichy plunging initially, but thanks to the firm trend overseas, prices stabilised halfway into the week.
- Trading commenced with the precious metal traif at Rs.3,048 per gram.
- Gold price in Trichy dropped over the next couple of days following a poor trend overseas as the dollar began regaining lost ground. This led to gold being priced at Rs.3,021 per gram on the 18th.
- However, the imminent arrival of the festive season led to an increased buying in the domestic markets. This led to rates rebounding to Rs.3,026 per gram on the 20th.
- The last two days of the week saw gold trading steady at Rs.3,027 per gram after the North Korean nuclear prowess toppled the US economy.
October 2017 - Week 4 & Week 5 (23rd to 31st):
- The final began with the precious metal trading relatively lower at Rs.3,006 per gram on the 23rd. This was due to the well performing dollar emerging dominant over other apex currencies.
- Though rates rose slightly to Rs.3,009 per gram on the 24th, the next few days saw prices plummeting with the dollar rising amid the possibility of the Fed rate hike in December. This led to the yellow metal prices dropping to Rs.3,000 per gram on the 26th.
- Poor domestic demand amid strong equities market led to gold price in Trichy plunging to Rs.2,997 per gram on the 27th.
- The next couple of days saw rates recovering to Rs.3,006 per gram after a firm trend overseas led to an increase in local demand.
- However, prices plummeted again as markets remained cautious ahead of policy meetings by three central banks. This led to gold being priced at Rs.2,997 per gram on the 30th and 31st.
- Trichy witnessed gold rate in Trichy declining at 1.41% during the month owing to poor global cues compounded with reduced local demand.
|Parameters||Gold price (per 1 kg)|
|Gold rate on 1st September||Rs.2,995 per gram|
|Gold rate on 30th September||Rs.3,040 per gram|
|Highest Rate in September||Rs.3,102 per gram on 8 September|
|Lowest Rate in September||Rs.2,832 per gram on 29 September|
|Overall Monthly Performance||Incline|
September 2017- Week 1 (1st to 10th)
- Gold traded at Rs.2,995 per gram on the first day of the month in Trichy and increased marginally thereafter to trade at Rs.2,997 per gram on 2 and 3 September.
- The low rate of gold was due to spectators raining bets amidst firm trends being seen globally. This rate was also the lowest at which gold was priced at for the month of September in Trichy.
- The price of gold in Trichy increased to Rs.3,081 per gram on 4 September before reducing to trade at Rs.3,068 per gram. However, the rate of gold increased again to trade at Rs.3,087 per gram on 6 September.
- The impact on the rate of gold could be attributed to North Korea’s confirmation regarding the testing of new powerful nuclear weapons.
- The rate of gold shot up to trade at Rs.3,108 per gram on 8 September and was the highest at which this metal was priced during the month of September.
- On the last two days of the week, gold was priced at Rs.3,095 per gram due to steady demand for this metal.
September 2017- Week 2 (11th to 17th)
- Gold rate in Trichy fell to Rs.3,074 per gram on 11 September due to a decline in the demand for this metal and reduced even further the next day to be priced at Rs.3,055 per gram on 12 September.
- The rate of gold continued to fluctuate as the week progressed due to a recovery in the value of the US dollar.
- Gold was priced at Rs.3,068 per gram on 13 september and reduced again thereafter to trade at Rs.3,051 per gram on 14 September.
- On the last three days of the second week of September, gold in Trichy was priced at Rs.3,061 per gram due to steady demand for this metal from domestic markets.
September 2017- Week 3 (18th to 24th)
- Gold was priced at Rs.3,035 per gram on 18 October and fell marginally the next day to trade at Rs.3,030 per gram. This was due to a firm dollar as well as rising equity markets.
- Gold was priced at Rs.3,045 per gram on 20 September and declined the next day to be priced at Rs.3,026 per gram.
- Due to steady but low demand for this yellow metal from both domestic as well as international markets, the rate of gold was stable at Rs.3,030 per gram from 22 September to 24 September.
September 2017- Week 4 (25th to 30th)
- The rate of gold in Trichy was Rs.3,030 per gram on 25 September which was a continuation of the rate seen during the previous week as well.
- The rate of gold was Rs.3,072 per gram on 26 September due to a recovery in the demand for this metal from domestic markets.
- As the value of the US dollar marginally increased, the rate of gold slightly decreased with this metal being priced at Rs.3,051 per gram on 27 September.
- However, this rate was not sustained and the price of this metal reduced marginally to trade at Rs.3,030 per gram on 28 September and declined even further thereafter to trade at Rs.2,832 per gram on the penultimate day of the month.
- Gold closed the month of September in Trichy by being priced at Rs.3,040 per gram while recording an incline of 1.50% in the rate of gold.
|Parameters||Gold price (24 karat)|
|Gold Rate on 1st August||Rs.2,926 per gram|
|Gold Rate on 31st August||Rs.2,971 per gram|
|Highest Rate in August||Rs.2,999 per gram on 29 August|
|Lowest Rate in August||Rs.2,900 per gram on 5 and 6 August|
|Overall Monthly Performance||Incline|
August 2017 - Week 1 (1st-6th)
- The month began with gold being traded at Rs.2,926 per gram.
- With investors cautious about forthcoming European Central Bank and Federal Reserve meetings in Europe and the US regarding monetary policies and interest rates, the demand softened during the week.
- Gold rate in Trichy hit the lowest monthly figure of Rs.2,899 on the 3rd. Prices went up to Rs.2,920 on the 4th as jewellers increased their purchases to meet the retailers' demand.
- Gold price in Trichy dropped again to Rs.2,900 on the 5th and 6th due to the subdued demand after the previous day's trade.
August 2017 - Week 2 (7th-13th)
- The second week began with gold rates at Rs.2,901 due to low demand from the investors and retailers.
- The next day saw a slight increase in the rates with gold being traded at Rs.2,906.
- The 9th day witnessed the gold rate in Trichy being raised to Rs.2,917 per gram, which was sufficient to end the staggering decrease in prices.
- The gold price in Trichy surged by Rs.30 per gram to Rs.2,947 on the 10th due to the rising tensions between the US and North Korea.
- With dollar value on the low due to the tension on the Korean peninsula, the gold prices shot up again by Rs.30 per gram to Rs. 2,977 per gram on the 11th.
- Gold continued being sold at Rs.2,977 per gram on the 12th and 13th due to consistent demand.
August 2017 - Week 3 (14th-20th)
- The third week in Trichy witnessed a decrease in the gold rates as the US dollar began to reclaim its value.
- The week started off with gold rate in Trichy at Rs.2,962 per gram on the 14th which remained the same on the 15th again.
- On the 16th, the yellow metal's rates saw an unexpected fall to Rs.2,940 per gram.
- Gold price in Trichy surged to Rs.2,969 per gram on the 17th due to increase in gold purchases from investors.
- The 18th witnessed an uncharacteristic downfall in the yellow metal's prices again bringing it down to Rs.2,942 per gram.
- With a slight increase in demand, the prices stood at Rs.2,951 per gram on the 19th and the 20th.
August 2017 - Week 4 (21st-27th)
- The fourth week began with gold being traded at Rs.2,950 per gram.
- With an increase in the demand, the 22nd witnessed gold prices at Rs.2,965 per gram.
- Though the yellow metal's rate went down by Rs.2 on the 23rd, the prices rose back to Rs.2,965 per gram on the 24th.
- The gold rate in Trichy remained Rs. 2,967 per gram until the 27th due to steady demand.
August 2017 - Week 5 (28th-31st)
- Towards the end of August, there was a significant rise in the gold rates due to declining trend of the US dollar.
- On the 28th, gold traded at Rs.2,942 per gram due to decrease in demand from investors and jewellers.
- Gold rates hit the highest monthly figure of Rs.2,999 per gram on the 29th, which eventually declined the next day.
- The gold rate in Trichy dropped to Rs.2,973 per gram on the 30th.
- The month ended with gold being traded at Rs.2,971 per gram in Trichy.
- Steady demand from the investors and other global issues led to an increase in prices by 1.87% for this month.
|Parameters||Gold price (24 karat)|
|July 1st Rate||Rs.2,950 per gram|
|July 31st Rate||Rs.2,925 per gram|
|Highest Rate in July||Rs.2,950 per gram on 1 & 2 July|
|Lowest Rate in July||Rs.2,796 per gram on 11 July|
|Overall Monthly Performance||Decline|
July 2017 - Week 1 (1st - 9th)
- Gold started trading at Rs.2,950 per gram on the 1st and 2nd of July - a relative high - as the market was still reeling under the arrival of GST.
- Gold rate in Trichy fell on the 3rd to Rs.2,935 per gram as the impact of 3% GST on gold and precious metals began to take effect.
- Gold price in Trichy fell this week despite the US dollar reaching near nine-month low figures over concerns with the Trump administration.
- By the 4th, gold rates had reached Rs.2,914 per gram and kept falling as domestic investors didn’t seem to want anything to do with gold.
- When the week came to an end on the 9th, the metal’s prices were down to Rs.2,875 per gram.
July 2017 - Week 2 (10th - 16th)
- The gold price in Trichy drop from the previous week trickled down to this week as well, which was evident with the starting price of Rs.2,831 per gram.
- On the 11th, gold rates reached a monthly low number of Rs.2,796 per gram as stronger US job data led to the Fed Reserve maintaining its position on monetary policy tightening.
- However, gold prices in Trichy surged to Rs.2,813 per gram on the 12th as dollar tanked after reports claiming Donald Trump’s collusion with Russia hit the stands.
- Gold gates fell briefly due to cautious buying as gold was trading at Rs.2,803 per gram on the 14th.
- As the US economic data pointed to a rather slow growth, gold rates increased to Rs.2,818 per gram on the 16th of the month.
July 2017 - Week 3 (17th - 13th)
- When the third week of July began in Trichy, gold was selling at Rs.2,822 per gram.
- With demand on the incline, courtesy of a weak dollar, gold prices went up to Rs.2,832 per gram on the 18th and then to Rs.2,845 per gram on the 19th.
- A sustained buying frenzy from investors saw gold rate in Trichy hit Rs.2,869 per gram on the 20th of the month.
- Gold price in Trichy went up consistently over the next few days - reaching Rs.2,897 per gram on the 21st and then to Rs.2,917 per gram the next day - as investors made the best of the volatility.
- The week ended with gold still trading at Rs.2,917 per gram as demand stabilised.
July 2017 - Week 4 (24th - 30th)
- Gold rate in Trichy fluctuated consistently as demand seemed to be on a low this week.
- On the 24th, gold was priced at Rs.2,918 per gram but due to unsustainable buying trends seen the previous week, rates fell to Rs.2,897 per gram on the 26th.
- Gold price in Trichy increased to Rs.2,920 per gram as certain investors decided to take advantage of a conflict between the US and North Korea which led the markets astray.
- Rates fluctuated for the next four days before ending the month at Rs.2,925 per gram as demand consolidated.
- Price trends declined by 0.84% in Trichy as a result of weak domestic demand.
|Parameters||Gold price (24 karat)|
|June 1 Rate||Rs.2,977 per gram|
|June 30 Rate||Rs.2,962 per gram|
|Highest Rate in June||Rs.3,030 per gram on 7 June|
|Lowest Rate in June||Rs.2,942 per gram on 20 June|
|Overall Monthly Performance||Decline|
June ‘17- Week 1 (1st to 4th)
- Gold opened the month at Rs.2,977 per gram in June and appreciated in value due to the unstable market, resulting out of regional instability in the United States.
- Gold Prices dipped to Rs.2,965 per gram on 2 June as industrial demand fell slightly, with local demand at a low as consumers awaited further clarification on GST.
- Demand spiked to Rs.2,998 per gram on 3 June as the U.S. dollar and U.S. markets plunged following news of the possible repeal of the Affordable Healthcare Act.
- Prices did not change as the week ended, with gold trading at Rs.2,998 per gram on 4 June.
June ‘17- Week 2 (5th to 11th)
- Demand spiked in the second week as gold was sought after due to volatile markets and a low U.S. dollar rate, with the metal trading at Rs.3,006 per gram on 5 June.
- Gold reached Rs.3,025 per gram on 6 June as local demand increased ahead of the implementation of GST.
- Prices continued to climb as industrial demand and higher demand from jewellers led to gold trading at Rs.3,030 per gram on 7 June.
- Demand began to fall as the week progressed as demand plateaued as global markets began to stabilise, with gold priced at Rs.2,987 peer gram on 9 June.
- The release of U.S. jobs data led to markets recouping from their earlier losses as demand for gold fell to Rs.2,981 per gram on 10 & 11 June.
June ‘17- Week 3 (12th to 18th)
- Prices were low as gold did not see much demand in the third week as the metal traded at Rs.2,983 per gram on 12 June.
- Demand began to fall during the week as local demand was muted following international cues which pointed to a drop in demand for the precious metal.
- Gold traded at Rs.2,973 per gram on 14 June as the dollar was bolstered by positive trading on the bourses and stronger investor confidence in the greenback.
- Prices fell sharply as gold traded at Rs.2,951 per gram on 17 June on account of lowered demand from Asian industry as market watchers anticipated news of a possible rate hike by the Federal Reserve.
- Gold rose marginally as the week ended, closing at Rs.2,955 per gram on 18 June.
June ‘17- Week 4 (19th to 25th)
- Gold plunged to Rs.2,949 per gram on 19 June as European demand for the yellow metal was also on the decline due to stable markets.
- The U.S. dollar rate also rose against other global currencies, making gold imports more expensive and leading to lower orders, as gold fell to Rs.2,942 per gram on 20 June.
- There was a gradual rise in demand for the precious metal as local consumers bought gold ahead of the projected price rise due to GST.
- Gold traded at Rs.2,958 per gram on 22 June and rose to Rs.2,964 per gram on 24 & 25 June.
June ‘17- Week 5 (26th to 30th)
- Prices fluctuated in the last week of June as conflicting cues and market volatility impacted gold prices.
- The week began with gold trading at Rs.2,977 per gram on 26 June as the increase in local retail demand kept prices stable.
- Gold plunged to Rs.2,957 per gram on 27 June as bullion rates dropped globally due to a decline in industrial demand.
- Prices recovered to trade at Rs.2,970 per gram on 28 June before falling to Rs.2,960 per gram on 29 June.
- Gold prices rose marginally to end the month at Rs.2,962 per gram on 30 June, registering a loss in value of 0.50% over the course of the month.
|May 1st Rate||Rs.2,984 per gram|
|May 31st Rate||Rs.2,968 per gram|
|Highest Rate in May||Rs.2,984 per gram on the 1st May|
|Lowest Rate in May||Rs.2,888 per gram on 15th May|
May 2017 - Week 1 (1st-7th):
- As Trichy Isn't known for gold consumption, gold prices saw a decline in May 2017.
- The month began with gold priced at Rs.2,984 per gram - which also happened to be the highest gold rate for the entire month.
- From then on, prices seemed to ride the sine wave as demand was a little too flimsy.
- The 2nd saw gold prices dip as local demand took a hit way more than expected and fell again on the 3rd to reach Rs.2,952 per gram.
- On 4th, gold took a second sub-20 rupee hit in the same week to go down to Rs.2,922 per gram.
- It was all downhill the next two days as well as prices went to Rs.2,908 per gram on the 5th and then to Rs.2,899 per gram on the 6th.
- On the last day of the week i.e., the 7th gold prices stabilised as demand picked up lightly.
May 2017 - Week 2 (8th - 14th):
- When the second week began on 8th, gold rates had dipped to Rs.2,896 per gram as there was a no demand from the local market.
- Gold rates slightly increased on the 09th of May and traded at Rs.2,904 per gram.
- Gold prices went down on the 11th to Rs.2,889 per gram as there was little to no demand for the precious metal in the local circles.
- However, there was just a teeny bit of increase in demand on the 12th as it went up to Rs.2,892 per gram.
- After that minor increase broke the fall, gold rates reduced on the 13th, albeit by Re.1, to reach Rs.2,891 per gram.
- As a fall in the US dollar saw prices increase everywhere, prices surged slightly in the local markets on the 14th.
- When the second week of May drew to a close, gold prices were still holding at Rs.2,891 per gram.
May 2017 - Week 3 (15th - 21st):
- Like in the previous week, gold prices opened on a negative note as prices had gone down to Rs.2,888 per gram.
- On the 15th, however, gold prices surged to Rs.2,888 per gram and then to Rs.2,910 per gram on 17th as demand in the city went for the first time in half a month.
- The 18th again saw gold prices surge, but this time by a rather significant margin as they increased and traded at Rs.2,958 per gram.
- A sudden increase on the 18th was followed by a drop on the 19th as gold prices went down to Rs.2,954 per gram and remained the same till the end of the week.
May 2017 - Week 4 (22nd - 28th):
- Prices had fallen when week 4 began as gold was seen trading at Rs.2,956 per gram on the 22nd.
- On the 23rd, gold prices rose significantly to Rs.2,971 per gram.
- As the demand couldn’t be sustained on the 24th, prices went down to Rs.2,956 per gram and remained at the same rate on the 25th.
- Gold prices slightly increased on the 25th and traded at Rs.2,956 per gram.
- When the week came to an end, price of gold was holding at Rs.2,979 per gram.
May 2017 - Week 5 (29th - 31st):
- Gold rates fluctuated over the last three days of the month.
- On 29th, when trading began, gold was priced at Rs.2,977 per gram.
- Rates dropped on the last day of the week to Rs.2,968 per gram as demand in the local market wasn’t strong enough.
- In Trichy, gold closed at Rs.2,968 per gram on the 31st of May.
|April 1st Rate||Rs.2,956 per gram|
|April 30th Rate||Rs.2,984 per gram|
|Highest Rate in April||Rs.3,040 per gram on 15th & 16th April|
|Lowest Rate in April||Rs.2,954 per gram on 8th & 9th April|
April ’17- Week 1 (1st to 9th)
- The price of gold in Trichy was on the increase in the first week of April as demand from industrial units as well as investors was stable.
- Gold traded at Rs.2,956 per gram on 1st April, with the price jumping to Rs.2,987 per gram on 4th April due to a fall in the U.S. Dollar rate, which led to increased demand for gold overseas.
- Prices stabilised as the week progressed, with gold trading at Rs.2,970 per gram due to fluctuations in demand as jewellers reduced demand for the precious metal.
- Gold prices fell further as the metal traded at Rs.2,954 per gram on 9th April, its lowest rate for the month due to a decrease in investor demand.
April ’17 – Week 2 (10th to 16th)
- Gold prices continued to rise in the second week of April as markets fluctuated, which led to higher demand for gold, considered a safe haven asset.
- Gold was priced at Rs.2,956 per gram on 10th April and rose to Rs.3,001 per gram on 12th April as the U.S. Dollar plunged further over uncertainty due to the North Korean crisis.
- International demand buoyed local trade in the yellow metal, resulting in gold trading at Rs.3,028 per gram on 14th April.
- Prices rose to a monthly high of Rs.3,040 per gram on 15th April as investors looking to offset declining stock values by investing in gold.
- The week ended with gold trading at Rs.3,040 per gram on 16th April.
April ’17 – Week 3 (17th to 23rd)
- The price of gold began to fall marginally during the week as markets recovered from their earlier losses and the U.S. Dollar also rose.
- Gold traded at Rs.3,033 per gram on 17th April as demand was steady as the week began, but prices fell to Rs.3,022 per gram on 19th April due to a dip in demand.
- Investor interest in gold waned as the markets picked up, as domestic demand also fell.
- Gold recovered marginally as the week ended, trading at Rs.3,035 per gram on 23rd April.
April ’17 – Week 4 (24th to 30th)
- The last week of April saw gold prices in Trichy drop sharply due to a continued decline in demand from investors as well as jewellers.
- Gold was priced at Rs.2,998 per gram on 24th April, as industrial demand for the metal also fell due to the high export cost as the U.S. Dollar continued to strengthen.
- Prices dropped to Rs.2,962 per gram on 27th April as the auspicious day of Akshaya Tritiya did not see much in the way of gold sales, which led to a further reduction in demand from jewellers.
- Prices picked up as the month ended, with gold trading at Rs.2,984 per gram on 30th April to record a marginal increase of 0.94% over the course of the month.
|March 1st Rate||Rs.2,990 per gram|
|March 31th Rate||Rs.2,942 per gram|
|Highest Rate in March||Rs.2,994 per gram on March 4thand 5th|
|Lowest Rate in March||Rs.2,900 per gram on March 15th|
March 2017 - Week 1 (1st - 5th):
- Gold opened at Rs.2,990 per gram of 24 Carat Gold.
- Due to a steady demand from local jewelers Gold marginally rose to Rs.2,994 per gram on March 2nd morning and closed at Rs.2,992 per gram.
- An expected rise in Federal interest rates saw the dollar strengthen, thereby, causing gold rates to plummet to Rs.2,961 on March 3rd.
- An increase in demand by local jewelers saw Gold climb to Rs.2,972 per gram and close the week.
March 2017 - Week 2 (6th - 12th):
- Gold opened the second week of March at Rs.2,971 per gram of 24 Carat gold.
- A weak trend globally and a drop in demand from local jewelers saw Gold fall to Rs.2,931 on March 8th.
- The drop in Gold price rekindled demand for the precious metal as the US Dollar weakened, causing Gold price to recover to Rs.2,970 per gram on March 8th.
- A strengthened US Dollar saw Gold stabilize at Rs.2,945 per gram on March 11th and March 12th.
March 2017 - Week 3 (13th-19th):
- Gold opened the third week at Rs.2,947 per gram of 24 Carat Gold.
- A globally weak trend and an expected US Federal Interest Rate hike caused Gold to slip to a 30-day low of Rs.2,900 per gram on March 15th.
- A gradual increase in demand for Gold allow it to climb to Rs.2,935 on March 17th.
- At the end of the third week of March, Gold close at Rs.2,940 per gram on March 19th.
March 2017 - Week 4 (20th - 26th):
- The fourth week of March saw Gold opening at Rs.2,941 per gram of 24 Carat Gold.
- An increased demand by local jewelers sees Gold climb to Rs.2,971 per gram on 22nd March.
- Gold remained relatively stable and closed the week at Rs.2,964 per gram on March 26th.
March 2017 - Week 5 (27th - 31st):
- A steady demand from jewelers saw Gold open the fifth week at Rs.2,979 per gram of 24 Carat Gold.
- An expected US Federal Interest Rate hike saw Gold fall to Rs.2,962 per gram on March 29th.
- A globally weak trend saw Gold further slip to Rs.2,942 per gram on March 31st.
|February 1st Rate||Rs.2,957 per gram|
|February 28th Rate||Rs.3,001 per gram|
|Highest Rate in February||Rs.3,014 per gram on 25th and 26th February|
|Lowest Rate in February||Rs.2,940 per gram on 3rd February|
February ‘17 - Week 1 (1st to 5th)
- Based on market trends, there was a definite rise in the rate of gold as the month of February progressed in Trichy. This could be attributed to the heavy demand for this precious metal.
- The price of gold on the 1st of February was Rs.2,957 per gram which was not very high as compared to the rate at the beginning of the previous month.
- This rate was steady the next day as well due to sustained demand but reduced the next day to touch the monthly low of Rs.2,940 per gram.
- The rate of gold increased by Rs.4 the next day to trade at Rs.2,944 per gram on the last two days of the week.
February ‘17 - Week 2 (6th to 12th)
- The price in Trichyof this precious metal in the second week of February also saw an increase due to demand from coin makers and the industrial sector with gold opening the week at Rs.2,954 per gram on 6th February.
- Rates rose even further to trade at Rs.2,978 per gram on the 7th of February and increased further on the 8th to trade at Rs.2,989 per gram.
- Rate of gold reduced to Rs.2,984 per gram on 9th February. This rate however, could not be sustained and reduced the next day to trade at Rs.2,946 per gram.
- This metal traded at Rs.2,964 per gram on 11th February as a slight dip in demand led to prices falling initially and then increasing due to market recovery. Fluctuations were common during the second week of February.
- This rate was steady the next day as well, on the last day of the week.
February ’17- Week 3 (13th to 19th)
- Rate of Gold in Trichy in the third week of February was subject to market fluctuations due to varying cues from international and domestic markets.
- Gold traded at Rs.2,959 per gram on 13th February and reduced to Rs.2,953 the next day due to variations in the demand.
- Price of gold continued to reduce the next day as well due to low demand.
- Prices steadied in the next few days, as gold traded at Rs.2,980 per gram on the 16th February.
- Price of gold increased to Rs.2,990 per gram on the 17th due to positive cues.
- Due to stable markets and demand, price of gold stabilised to Rs.2,980 per gram on the last two days of the week.
February ’17- Weeks 4 & 5 (20th to 28th)
- There were a number of fluctuations noted in the rate of gold in Trichy during the last week of the month.
- Gold traded at Rs.2,976 per gram on 20th of February, before falling to Rs.2,967 per gram on the 21st of February due to a reduction in the demand for this precious metal.
- Prices steadied over the rest of the week, as demand increased slightly with gold trading at Rs.3,000 per gram on 24th of February.
- A rise in industrial demand from Asia led to gold prices shooting up to Rs.3,014 per gram on the 25th and 26th February. This was also the highest rate at which gold traded for the month of February.
- At the end of the month, gold closed at Rs.3,001 per gram and recorded a rise of 1.48% in gold rates throughout the month.
|January 1st Rate||Rs.2,821 per gram|
|January 31st Rate||Rs.2,942 per gram|
|Highest Rate in January||Rs.2,974 per gram on 24th January|
|Lowest Rate in January||Rs.2,821 per gram on 1st January|
January 2017 - Week 1 (1st - 7th):
- When 2017 began on January 1st, gold was trading at Rs.2,821 per gram before increasing to Rs.2,828 per gram on 2nd.
- Due to an increase in demand, prices went up to Rs.2,857 per gram on 4th and then went up to Rs.2,858 per gram on 5th.
- Prices increased to hit Rs.2,868 per gram on 6th as uncertainty grew over Donald Trump’s travel ban..
- When week 1 ended on 7th, gold prices were holding Rs.2,872 per gram - a Rs.3 increase from the previous day.
January 2017 - Week 2 (8th-14th):
- On 8th, gold prices remained the same as on 7th at Rs.2,872 per gram.
- The 8th saw prices increase by Rs.6 to bring gold prices up to to Rs.2,878 per gram.
- Prices were on the rise and on 11th prices increased significantly by Rs.19 to bring gold prices up to Rs.2,914 per gram.
- Rates went up again on the 12th as well - by Rs.21 - to bring price up to Rs.2,935 per gram.
- Despite a dip on 13th, gold rates gained to end week 2 at Rs.2,941 per gram.
January 2017 - Week 3 (15th - 21st):
- When 15th began gold was still trading at Rs.2,941 per gram.
- The 15th saw gold prices increase slightly to Rs.2,955 per gram before increasing again on 16th to reach Rs.2,969 per gram.
- On 19th, prices fell significantly by Rs.20 to bring gold rates down to Rs.2,951 per gram.
- When week 3 ended, gold prices had gained to end the 21st at Rs.2,962 per gram.
January 2017 - Week 4 and 5(22nd - 31st):
- The last two week of January saw prices increase steadily owing to high demand for the yellow metal.
- On 23rd gold was trading at Rs.2,970 per gram and increased again on the 24th to reach the highest rate for the month at Rs.2,974 per gram.
- From 25th to 27th, prices fell considerably as they first went down to Rs. Rs.2,951 per gram and ended up at Rs.2,911 per gram on 27th.
- After a brief fall in prices, they increased over the last four days of January to end the month at Rs.2,942 per gram.
- January saw gold prices increase by 4.28% compared to that of the previous month.
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|
- Also Check:Gold Price Trend 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 2018