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Gold Rate in Trivandrum
Trivandrum, the capital of Kerala, is among the largest markets for gold in the country. The city has been a large consumer of gold from ancient times, and is known for the riches in gold in the famed Padmanabhaswamy Temple. The rulers of Kerala had always had an affinity toward gold which was also seen in the large populace. Gold rate in Trivandrum is therefore a benchmark of the gold rate trends in whole of Kerala.
Gold is primarily consumed in the form of jewellery and ornaments in Trivandrum. The city has a well-established gold market and also boasts of a large manufacturing industry that is intrinsic to Kerala. There are many dealers and jewellers based out of the city who have made a mark in both the national as well as global gold markets.
- Also Check: Importance of Gold in Kerala
Gold Rate Trend in Trivandrum for April 2016 to June 2016 (per gram of 24 karat gold)
|1st Day||Rs. 2,872 per gram||Rs. 3,025 per gram||Rs. 2,985|
|Last Day||Rs. 3,025 per gram||Rs. 2,895 per gram||Rs. 2,990|
|Highest Price||Rs. 3,025 per gram on April 30.||Rs. 3,025 per gram May 1st to 3rd||Rs. 3,050 per gram on 25th June|
|Lowest Price||Rs. 2,852 per gram on April 4.||Rs. 2,885 per gram on May 30th||Rs. 2,935 per gram on 9th June|
Gold Rate Trend of Trivandrum in April 2016
- Gold traded at Rs. 2,872 per gram on April 1st but soon picked up after the jewellers’ strike was called off.
- Fresh demand gave gold rates a boost after its stagnant state in March.
- Gold rates rose to Rs. 3,025 per gram on April 30th.
- By the end of the month, gold rates had increased by 5.32%.
Gold Rate Trend of Trivandrum in May 2016
- Gold rates for the month of May started well at Rs. 3,025 per gram.
- The U.S. Federal Reserve released the minutes of its meeting which indicated a rate hike might soon be place in hopes of a stronger dollar and a growing U.S. economy.
- The expectations of an interest rate hike did not bode well for gold investors and demand took a hit and prices slipped.
- The month ended with a 4.29% decrease.
Gold Rate Trend of Trivandrum in June 2016
- The rate of gold was steady at Rs.2,985 per gram throughout the first week of June.
- During the first half of the second week of June, price of gold continued to remain steady at Rs.2,985 per gram before reducing further.
- On the 9th and 10th of June, gold rate decreased to Rs.2,935 per gram.
- Price of gold rose to Rs.2,955 per gram on the 11th.
- Gold rate stayed steady at Rs.2,955 per gram on the first three days of the week.
- An increase of Rs.20 was noted in the price of gold and stayed steady at Rs.2,975 per gram until the end of the week.
- Gold rate was steady at Rs.2,975 per gram until the 21st after which prices reduced by Rs.20 again.
- On the last day of the week, gold rate increased to Rs.3,050 per gram.
- Price of gold was steady at Rs.3,050 per gram until the 29th after which gold rate declined even further.
- Price reduced by Rs.50 on the 29th and reduced even further to close at Rs. 2,990 per gram on the 30th.
Gold Rate Trend in Trivandrum for January 2016 to March 2016 (per gram of 24 karat gold)
|1st Day||Rs. 2,507 per gram||Rs. 2,685 per gram||Rs. 2,872 per gram|
|Last Day||Rs. 2,685 per gram||Rs. 2,872 per gram||Rs. 2,872 per gram|
|Highest Price||Rs. 2,688 per gram on January 27th to 28th||Rs. 2,872 per gram from February 26th to 29th||Rs. 2,907 per gram on March 8th|
|Lowest Price||Rs. 2,507 on January 1st to 3rd||Rs. 2685 per gram on February 1st||Rs. 2,822 per gram on March 29th|
|Change||+ 7.10 %||+6.96%||0%|
Gold Rate Trend of Trivandrum in January 2016
- January opened at Rs. 2,507 and experienced a rising trend through the month.
- With an influx of demand in the domestic and international markets, prices rose by 7.10% by the end of January.
- The highest rate recorded for the month was on January 27th at Rs. 2,688 per gram.
Gold Rate Trend of Trivandrum in February 2016
- Gold rates were at Rs. 2,685 per gram on February 1st.
- Prices rose at the beginning of the month but stabilized to a more constant rate at the end.
- Gold reached its peak for the month on 26th at Rs. 2,872 per gram.
- Gold rates increased by 6.96% in Trivandrum by the end of February.
Gold Rate Trend of Trivandrum in March 2016
- Gold traded at Rs. 2,872 per gram on March 1st.
- Prices remained constant due to a nationwide strike by the jewellers in India.
- Global demand kept prices stable with no major falls or rises in the gold rates.
- Gold traded at Rs. 2,824 March 24th, the highest rate for the month.
- By the end of the month, rates dipped again to Rs. 2,872 per gram.
Details of Gold Price in Trivandrum (22 Karat & 24 Karat) - Till September 2015
Gold rate in Trivandrum for the year 2015 (till September 30th) for both 22 karat and 24 karat varieties are discussed below:
22 karat gold (price per gram): Gold rate in Trivandrum for 22 karat purity was Rs.2,510 at the start of the year on 1st January 2015. Prices appreciated over the next 3 weeks and touched Rs.2,650 as on 21st January, the highest rate for the year so far. February saw a general downward slide in prices which started at Rs.2,640 and ended at Rs.2,500. In March, rates stayed at more or less the same level at the start and end of the month. Prices slid to sub-Rs.2,500 levels and reached a bottom of Rs.2,425 on 18th march, before recovering to Rs.2,462 by month-end. Prices appreciated in the months of April and May, with per gram gold priced at Rs.2,535 on 31st May. June again saw a downward slide in prices which bottomed out at Rs.2,485 by 30th June. July saw massive drop in rates owing to global cues and prices slid to Rs.2,360 by end of the month. August saw steep recovery in rates which touched Rs.2,560 on 25th August. Gold prices in September were stable, with end of month price at Rs.2,460.
24 karat gold (price per gram): 24 karat gold rate was priced at Rs.2,713 at the start of the year. This increased steeply over the next few days to reach Rs.2,859 on 22nd January, the highest rate so far in 2015. From then, prices went on a downward spiral and reached a low of Rs.2,617 on 19th March. Prices then appreciated over the next couple of months and touched Rs.2,791 on 19th May, the 2nd highest gold rate this year. Prices remained at the same levels in the month of June, while July saw the most sustained drop in gold rates in the last 5 years. Prices bottomed out on August 7th at Rs.2,504 but made a comeback to end the month at Rs.2,666. Gold rate at the end of September was Rs.2,653.
Gold buying patterns in Trivandrum
Gold is largely sold in its physical form in the city.
Physical gold: Jewelleries and ornaments are quite popular in the city and some of the largest jewellers in the country have significant presence in the city. Apart from jewelleries, gold bullion can also be purchased in the city from reputed dealers, while coins can be purchased from dealers and banks.
- Also Check: Buy Gold On Onam
Traded gold: Gold is also traded through spot and futures contracts. These contracts are available online and prospective buyers can purchase gold at market rates which will be delivered to them as per the contract terms.
- Also Check:Gold Rate in Kerala
Also Check Gold Price in NearBy Cities of Trivandrum
|Gold Rate In Kochi||Gold Rate In Kozhikode||Gold Rate In Kannur|
|Gold Rate In Malappuram||Gold Rate In Thrissur||Gold Rate In Tirunelveli|
|Also Know: Silver Rate in Trivandrum|
Read more on Gold
- Gold and Devaluation – A Relationship
- Basic Highlights of The Gold Schemes Launched in 2015
- Hallmark, KDM and 916 Varieties of Gold
- Tips for Buying Gold Jewellery
- Gold Rates Trend in 2015
News About Trivandrum Gold Rate
Surge in Gold Price as Domestic Demand Rises
The price of gold continued its bullish run, gaining by Rs. 160 to trade at Rs. 29,660 for 10 grams on Monday, June 13th, 2016.
Increased demand by jewellers in the domestic market as well as a firm position overseas have resulted in gold rising to a three-week high.
Gold prices were on the rise throughout the day as fears of a possible British exit from the European Union led to market uncertainty. This, coupled with the diminishing possibility of the U.S. Federal Reserve raising interest rates in June led investors to put their money in gold.
Silver prices fell after four consecutive days of gains, trading at Rs. 41,000 per kg on June 13th, 2016, a decline of Rs. 65.
Gold rose by Rs. 160 for both 99.9 purity as well as 99.5 purity gold in New Delhi yesterday (June 13th, 2016), with 99.9 purity trading at Rs. 29,600 for 10 grams and 99.5 purity trading at Rs. 29,510 for 10 grams.
Sovereign gold too rose by Rs. 100, trading at Rs. 23,100 for an 8-gram piece.
14th June 2016
The stock of Pershing Gold Corp gets the ‘Buy’ rating
The stock of Pershing Gold Corp decreased by $0.19 or 4.26% on May 23rd hitting about $4.27. More than 1,32,258 shares traded hands. The Pershing Gold Corp has been on a decline since quite a while, October, 2015 to be precise. There were 3 analysts who were covering Pershing Gold out of which 0 rated ‘Sell’,0 rated ‘Hold’ while 3 rated ‘Buy’. Pershing Gold has been the topic of discussion among analysts for quite a while now.
31st May 2016
Gold Prices on 3 and Half Week Low on Expectations of Federal Rate
Gold reduced to a 3 and half week low as expectation regarding interest rate hike by US Federal Reserve increased. Bullion has been experiencing pressure since last week when Fed released its minutes of the meeting conducted in April. Higher rates of interest also increase the opportunity cost of bullion (non-yielding).
US rates, if kept too long can cause economic instability and increased market expectations for an increase in rate. Spot gold reduced to $1242 an ounce which is the lowest since end of April. Policymakers of the Fed are expected to speak this week and also to back rate hike within a few months. Harvard University will host the event and Fed Chair Janet Yellen, will be at the panel event.
Spot silver reduced by 1.4% which is the lowest since 19, April 2016. Spot platinum reduced by 1.7% and palladium fell to 2.3 % which is the lowest since 14, April 2016.
27th May 2016
Gold demand fall in Asian markets
There was a slight drop in gold demand in Asia, following a hike in gold rates. Prices have been on a high since January, witnessing a 16% rise in the last 3 months. The increase in rates have led to premiums dipping in Asian markets, with demand in India dropping on account of a strike by jewellers protesting the increased excise duty.
5th April 2016
Gain in Gold post attacks in Brussels
Post the blasts that rocked the metro train and airport in Brussels, somehow investors sought refuge in assets considered as havens. That followed a surge in the buying of gold on Tuesday.
Gold rose by almost more than one percent post the attacks, coming to close at a rate of 1259.60 dollars an ounce. At 2000 hours GMT, gold had gained 0.3 percent being at 1248 dollars an ounce. Gold futures meant for delivery in April increased by 4.40 dollars an ounce and had a final price of 1248.60 dollars an ounce. Speculation on gold had suggested a fall of 10 percent but gold has, on the contrary, had a gain of about 20% in 2016 till now.
29th March 2016
Gold rallies more than 1 percent after the Brussels attack
Post the attack on Brussels, investors sought after the safe haven asset. In the wake of the attack, the gold prices rose to $1,259.60 an ounce. The European stocks fell and investors rushed to the government bonds. Gold had fallen for 3 sessions and it had weakened gold but clearly the investors are keen on buying the safe haven asset post the attack.
28th March 2016
Gold falls in futures category
In the futures market, the rate of gold fell by about Rs.84 to Rs.29325 per 10 grams. Experts feel that the fall in gold prices are a result of the change in value of dollar as it stabilised itself after a lot of speculation of the Federal Reserve’s rate hike. Gold fell by a small percentage in the global market too.
Gold has been trudging a up and down path for the past one year now with speculation about US rate hike gaining grounds every few weeks.
22nd March 2016
In Asia, gold prices are on a path to recovery
After early drops on Monday, gold prices have started to take a turn for the better in the Asia markets. Investors are still awaiting the data cues enroute of the US interest rates. The April delivery for gold on the New York Mercantile Exchange, the Comex division gained by 0.39% and stood at a price of $1,225.30 for a troy ounce. Silver was also down by 0.10% and stood at $14.675 per troy ounce.
29th February 2016
Gold prices trading high with the trends of the international markets
Prices of spot gold dropped by 1.58% which ended to stand at $1208.4 per barrel as the dollar gained strength. The precious metal still remained high and stood above $1,200. With concerns of the US Fed rate hikes looming and the instability in markets, have helped the metal outperform most assets. In India, gold fell by 1.86% and closed at Rs. 28966 for 10 grams.
26th February 2016
Prices of gold seek higher grounds, as stock market still struggle
With the stock market struggles, gold prices advanced on Thursday. Gold prices on the New York Mercantile Exchange’s Comex division which is for April delivery was up by 1.2%. The precious metal went higher even with the looming possibility of the Federal Reserve slowing down the pace of the US interest rate hike this year. The yellow metal shines brighter if the rates are lowered and don’t offer a yield.
22nd February 2016
- For more related news /update on gold price visit: Gold News