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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 2017 (rates per gram for 24 karat 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|
Trend of Gold Rate in Trichy for July 2017 (rates per gram for 24 karat gold)
|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|
|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 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