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Gold Rate In Vellore
Vellore is a city located in the state of Tamil Nadu, South India. It is located on the banks of Palar river and has a population of about 423,425 based on a census conducted in the year 2011. It also houses two of top ten educational institutions in India. It is also very famous for medical tourism in India and is a major exporter of leather goods in India. The places house many forts, museums, parks and religious place that act as tourist attractions. The hill stations around Vellore also attract a lot of tourists. Gold is also one of the major commodities in Vellore and there are several gold stores spread all across the city.
Gold Rate Trend in Vellore for April 2019 to June 2019 (per gram of 24 karat gold)
|1st day||Rs.3,189 per gram||Rs.3,190 per gram||Rs.3,233 per gram|
|Last day||Rs.3,194 per gram||Rs.3,215 per gram||Rs.3,415 per gram|
|Highest price||Rs.3,208 per gram on 9, 27 and 28 April||Rs.3,246 per gram on 14 May||Rs.3,428 per gram on 28 June|
|Lowest price||Rs.3,161 per gram on 3 April||Rs.3,156 per gram on 23 May||Rs.3,233 per gram on 1 – 2 June|
Gold Rate Trend in Vellore for January 2019 to March 2019 (per gram of 24 karat gold)
|1st day||Rs.3,172 per gram||Rs.3,326 per gram||Rs.3,305 per gram|
|Last day||Rs.3,321 per gram||Rs.3,333 per gram||Rs.3,200 per gram|
|Highest price||Rs.3,326 per gram on 30 January||Rs.3,373 per gram on 22 February||Rs.3,305 per gram on 1 March|
|Lowest price||Rs.3,172 per gram on 1 and 2 January||Rs.3,316 per gram on 7 February||Rs.3,169 per gram on 29 March|
Gold Rate Trend in Vellore for January 2019:
- Despite an uninspiring start in the beginning of 2019 when gold traded at Rs.3,172 per gram, the gold rate in Vellore surged in the coming weeks as retail demand rose and there were favourable overseas market cues. This was also the lowest price the metal stood at for the month.
- The price of the metal saw an up rise on 4th January as investors increased their stake in bullion as a hedge against potential equity losses due to volatile markets.
- Demand for the precious metal in Asia remained weak due to the impact of trade sanctions. However, healthy local and industrial demand maintained the positive trend of gold prices in Vellore.
- The month ended with gold trading at its highest on 30th January. This may have been the effect of the US government shutting down and Brexit’s negative effects in the economy. On 31st January, the yellow metal was priced at Rs.3,321 per gram on.
Gold Rate Trend in Vellore for February 2019:
- A diminished retail offtake and a volatile marked stunted the value of gold even though the gold rate in Vellore trading at a high at the start of the month. As on 1st February, the metal was trading at Rs.3,326 per gram.
- Due to conflicting overseas trends, the price of gold fluctuated. As on 5th February, gold was trading at Rs.3,346 per gram. During this time, local and industrial demand remained steady. However, the price dipped on 12th February when it was priced at Rs.3,305 per gram as investor interest declined.
- The Sino-US trade talks stirred up negativity in the economy and investors switched to safe-haven assets as a hedge against any losses. This boosted the demand for gold in Vellore and the price rose to Rs.3,350 per gram on 16 February.
- A weak US dollar also boosted local demand for the metal as gold prices rose to Rs.3,392 per gram on 21 February, but an aggressive stand by the Fed Reserve saw demand decline as gold closed at Rs.3,333 per gram on 28 February. The metal in Vellore saw a percentage incline of 0.21% for the month of February.
Gold Rate Trend in Vellore for March 2019:
- Gold rate in Vellore dipped in value at the beginning of the month as the value of the US dollar rose substantially. Uncharacteristically, stocks and equities too dipped in value at the same time. The price of gold on 1st March stood at Rs.3,305 per gram. This was also the highest value of the yellow metal for the month.
- The dollar then declined in value on the 7th in comparison to the Euro as the ECB pushed its decision to hike interest rates. This stunted the growth of the metal due to weak economic conditions.
- On 29th March, gold stood at its lowest point for the month when it was trading at Rs.3,169 per gram. This was influenced by the dollar increasing in value and the economic conditions weakening.
- A percentage decline of 3.17 was recorded for the month of March while it was trading at Rs.3,200 per gram. This was also one of the lowest prices the metal stood at for the month.
Rate Trend in Vellore for October 2018 to December 2018 (per gram of 24 karat gold)
|1st day||Rs.3,071 per gram||Rs.3,184 per gram||Rs.3,045 per gram|
|Last day||Rs.3,188 per gram||Rs.3,045 per gram||Rs.3,165 per gram|
|Highest price||Rs.3,211 per gram on 15 October||Rs.3,196 per gram on 6 November||Rs.3,192 per gram on 11 December|
|Lowest price||Rs.3,071 per gram on 1 October||Rs.3,045 per gram on 30 November||Rs.3,045 per gram on 1 December|
Gold Rate Trend in Vellore for October 2018
- Gold opened at Rs.3,071 per gram when trading began for the month of October in Vellore.
- Demand was on the rise this month as the US dollar was affected because US president Donald Trump decided to continue to feud with China over trade concerns.
- On the 15th, the yellow metal traded at its highest of Rs.3,211 per gram before closing at Rs.3,188 per gram on the final day of the month.
- Price trends recorded an incline of 3.80% this month as demand was on the rise from various quarters of the domestic as well as the international market,
Gold Rate Trend in Vellore for November 2018:
- November was a weak period for gold sales as demand tumbled significantly as days passed. When the month began, the yellow metal was priced at Rs.3,184 per gram.
- The metal was at its highest on the 6th when it traded at Rs.3,196 per gram as demand was on the upper side on the day.
- However, as the rupee was weak and the dollar increased, gold became expensive to import or purchase. This led to a drop in demand and subsequently prices also fell.
- On the last day of this month, gold was priced at Rs.3,045 per gram and price trends tumbled by 4.36% this month due to poor demand.
Gold Rate Trend in Vellore for December 2018:
- The final month of December opened with gold prices still holding at Rs.3,045 per gram – which was also the lowest gold rate for the entire month.
- From the 2nd onwards, prices improved as the dollar was weak amidst a poor economic condition, which pushed safe-haven demand up.
- The precious metal was at its highest on the 11th of the month, when it traded at Rs.3,192 per gram, thanks to an improved local demand.
- On the final day of the year 2018, gold was priced at Rs.3,165 per gram and prices inclined by 3.94% this month, thanks to a robust local demand aided by a weak performing dollar.
Gold Rate Trend in Vellore for July 2018 to September 2018 (per gram of 24 karat gold)
|1st day||Rs.3,059 per gram||Rs.2,983 per gram||Rs.3,029 per gram|
|Last day||Rs.2,986 per gram||Rs.3,036 per gram||Rs.3,074 per gram|
|Highest price||Rs. 3,071 per gram on 6 July||Rs.3,036 per gram on 31 August||Rs.3,090 per gram on 25 and 26 September|
|Lowest price||Rs.2,986 per gram on 31 July||Rs.2,940 per gram on 16 August||Rs.3,019 per gram on 3 September|
Gold Rate Trend in Vellore for July 2018
- The month commenced with gold trading at Rs.3,059 per gram on 1 July. The demand for the metal was steady during the beginning of the month though the value of the US dollar stood strong. This was mainly due to the high retail and industrial demand from domestic markets.
- As the demand for the precious metal further increased in Vellore, the highest gold rate for the month was recorded on 6 July when the price of the metal surged and traded at Rs. 3,071 per gram.
- However, after the first week of July, ahead of the Federal Reserve Meeting, the value of the US dollar increased significantly compared to other apex currencies. This caused gold rates to decline in Vellore.
- Gold rates dipped and hit a monthly low of Rs.2,986 per gram on the last day of the month.
- The overall trend of gold rates in Vellore for the month of July declined by 2.38%.
Gold Rate Trend in Vellore for August 2018
- A slight decline in gold rates was recorded when trading for the metal commenced on 1 August. On this day, the precious metal was priced at Rs.2,983 per gram.
- The demand for the metal was not steady during the beginning of the month. On 16 August, due to muted demand for the metal and poor trend overseas, investors refrained from safe-haven assets. This caused gold rates to decline in Vellore.
- The lowest gold rate in Vellore for the month of July was recorded on 16 August when the yellow metal was priced at Rs.2,940 per gram.
- During the last few days of the month, the value of the US dollar declined due to political conditions and the demand for the metal picked up in Vellore.
- Gold rates surged and recorded the highest gold rate for the month on 31 August. On this day, the price of the metal stood at Rs.3,036 per gram.
- Overall, the trend of gold rates in Vellore inclined by 1.77% for the month of August in Vellore.
Gold Rate Trend in Vellore for September 2018
- Gold opened the month at Rs.3,029 per gram as strong overseas cues and a rise in local retail demand boosted prices.
- In spite of steady local stock trends, gold rates in Vellore rose as the falling rupee and strong overseas industrial demand propped up prices as gold rose to Rs.3,090 per gram on 26 and 37 September.
- Demand dropped marginally as the month drew to a close, with gold trading at Rs.3,074 per gram to record a rise in overall value by 1.48%.
Trend of Gold Rate in Vellore from April 2018 to June 2018 (rates per gram of 24 karat gold)
|1st Day||Rs.3,072 per gram||Rs.3,114 per gram||Rs.3,100 per gram|
|Last Day||Rs.3,123 per gram||Rs.3,122 per gram||Rs.3,059 per gram|
|Highest Rate||Rs.3,153 per gram on 19 April||Rs.3,213 per gram on 15 May||Rs.3,127 per gram on 15 June|
|Lowest Rate||Rs.3,064 per gram on 6 April||Rs.3,103 per gram on 3 May||Rs.3,054 per gram on 24 June|
|Overall Monthly Performance||Incline||Incline||Decline|
Gold Rate Trend in Vellore for April 2018:
- When April’s trading began in Vellore, gold was priced at Rs.3,072 per gram. As the market suggested, gold demand was on the rise this month, thanks to a shaky dollar and a proactive market, which took advantage of the situation.
- On the 6th, the yellow metal was priced at Rs.3,064 per gram - the month’s lowest, as demand was at a low point on this day.
- As sales rose, prices also went up. The yellow metal was trading at its highest on the 19th of April when it was selling at Rs.3,153 per gram.
- When the month came to an end, gold was priced at Rs.3,123 per gram - a sharp incline compared to the beginning of the month.
- Gold price trends went up by 1.66% this month compared to March, thanks to high demand caused by the US and NATO interference in war-stricken Syria.
Gold Rate Trend in Vellore for May 2018:
- When May’s trading started, gold was priced at Rs.3,114 per gram. Like The previous month, the trend was positive this month as well, however, the extent of it was rather low.
- The US dollar recovered after the last month’s poor performance and strengthened against a number of currencies.
- On the 3rd, the yellow metal traded at a monthly low of Rs.3,103 per gram - as demand was on the weaker side initially.
- For the remainder of the month, demand fluctuated before rising to a monthly high rate of Rs.3,213 per gram on the 15th of May.
- When the month ended, gold was priced at Rs.3,122 per gram and a 0.25% rise in price was recorded over this 31-day trading period.
Gold Rate Trend in Vellore for June 2018:
- The final month of Q2 2018 saw gold rates in Vellore drop significantly as the US dollar hit several-month high owing to a lot of reasons.
- Firstly, the payrolls data for the previous month was released, which showed a lot of growth. After this the Fed Reserve meeting happened, which gave rise to speculation that rate hikes are coming in the future. All of this led to gold demand bottoming out.
- The yellow metal was at its highest this month on the 15th when it traded at Rs.3,127 per gram. From this point on, it was all downhill for gold as prices dropped regularly.
- The lowest rate for this month was recorded on the 24th when the metal traded at Rs.3,054 per gram. When the month ended, gold was priced at Rs.3,059 per gram - a sharp fall from the previous 30 days.
- Price trends recorded a 1.32% decline this month owing to a buoyant dollar and a subsequent weakened cue brought by this development.
Gold Rate Trend in Vellore for January 2018 to March 2018 (per gram of 24 karat gold)
|1st day||Rs.3,009 per gram||Rs.3,040 per gram||Rs.3,043 per gram|
|Last day||Rs.3,045 per gram||Rs.3,046 per gram||Rs.3,072 per gram|
|Highest price||Rs.3,129 per gram on 25 January||Rs.3,103 per gram on 14 February||Rs.3,105 per gram on 24 and 25 March|
|Lowest price||Rs.3,000 per gram on 4 January||Rs.3,003 per gram on 8 February||Rs.3,030 per gram on 19 March|
Gold Rate Trend in Vellore for January 2018:
- Gold rates in Vellore fluctuated significantly owing to an inconsistent demand brought about by uneven market performances.
- The month began with gold priced at Rs.3,009 per gram on the 1st with demand suppressed by the strengthening US dollar and rising equities.
- Poor demand coupled with weak global trends led to gold prices plummeting to a monthly low of Rs.3,000 per kg on the 4th.
- However, the next couple of weeks saw the US dollar weakening after the US employment data reported a drop in the number of US jobs contributing to the nation’s economy.
- Prices continued to rise with safe-haven demand for the metal rising significantly following the weaker-than-expected inflation data. The yellow metal was recorded trading at Rs.3,129 per gram on the 25th amid the positive trend overseas.
- Trading concluded for the month with gold rates holding at Rs.3,045 per gram as global demand stabilised as the US dollar began to regain lost ground at the international level.
- The month saw gold prices rising by 1.19% owing to the strong global cues that pushed demand higher during the course of the month.
Gold Rate Trend in Vellore for February 2018:
- Trading opened for the month with the bullion priced at Rs.3,040 per gram on the 1st with the US greenback holding on to its gains from the previous session.
- The 8th saw gold prices plunging to Rs.3,003 - the lowest recorded monthly figure - per gram after demand from local jewellers, retailers and industries declined amid the rising US dollar and stock markets.
- Demand, however, picked up as the month progressed with domestic demand surging on the eve of Valentine’s day and gold was priced at Rs.3,103 per gram on the 14th. This was also the highest recorded monthly figure in the city.
- With the US dollar index gaining against a basket of other emerging currencies amid the well-performing equity markets, demand for the metal declined towards the end of the month.
- The month ended with the precious metal prices holding at Rs.3,046 per gram on the 28th and Vellore recorded an incline of 0.19% in gold rates during the month.
Gold Rate Trend in Vellore for March 2018:
- The final month of Q1 2018 began with the yellow metal trading at Rs.3,043 per gram on the 1st.
- Gold rates fluctuated over the next couple of weeks with vagaries in demand brought about by uneven market trends on the global front.
- Prices dropped to Rs.3,030 per gram on the 19th with equity markets skyrocketing after the sudden dismissal of the US Secretary of State by the White House.
- Safe-haven demand for the bullion improved over the next week with investors gravitating towards the yellow metal amid the rising US-China trade war fears.
- The precious metal prices were recorded holding at Rs.3,105 per gram on the 24th with strong investor demand brought about by positive market trends overseas.
- When trading closed for the month, gold was recorded trading at Rs.3,072 per gram with demand stabilising amid the recovering US dollar.
- Positive market trends coupled with rising geopolitical tensions led to gold prices in Vellore rising by 0.95% during the course of the month.
Gold Rate Trend in Vellore for October 2017 to December 2017 (per gram of 24 karat gold)
|1st day||Rs.3,040 per gram||Rs.2,988 per gram||Rs.2,982 per gram|
|Last day||Rs.2,997 per gram||Rs.2,992 per gram||Rs.3,015 per gram|
|Highest price||Rs.3,059 per gram on 14 and 15 October||Rs.3,030 per gram on 18 and 19 November||Rs.3,015 per gram on 30 and 31 December|
|Lowest price||Rs.2,997 per gram on 6, 27, 30, and 31 October||Rs.2,974 per gram on 6 November||Rs.2,903 per gram on 13 December|
Gold Rate Trend In Vellore for October 2017:
- The month commenced in Vellore with the precious metal trading at Rs.3,040 per gram on the 1st.
- Gold rate in Vellore plunged to Rs.2,997 per gram on the 6th with the US dollar gaining against a basket of other major currencies.
- The government’s decision to mandate KYC norms in the country received positive buyer sentiments in the domestic trade. This led to gold rates rebounding to Rs.3,042 per gram on the 12th.
- An increase in demand from local jewellers, retailers and industries amid the positive trend overseas led to gold prices in Vellore touching their highest monthly figure of Rs.3,059 per gram on the 14th.
- However, with the US dollar regaining lost ground amid firmer equities led to the bullion prices dropping to Rs.3,026 per gram on the 20th.
- Poor domestic demand for the metal brought about by the strong US dollar index led to gold rate in Vellore holding at Rs.3,000 per gram on the 26th.
- Trading concluded for the month with the precious metal trading at Rs.2,997 per gram on the 31st.
- The bullion trade in Vellore registered a loss of 1.41% owing to the poor global cues during the course of the month.
Gold Rate Trend In Vellore For November 2017:
- When trading opened in Vellore, the bullion was priced at Rs.2,998 per gram on the 1st following steady demand from the previous week.
- However, rates plummeted to Rs.2,977 per gram on the 4th with domestic demand taking a hit against the strong US dollar index and well performing equities market.
- The poor global trends coupled with firmer equities led to gold rate in Vellore plunging to Rs.2,974 per gram on the 6th. This was also the lowest recorded monthly figure in Vellore.
- Gold prices recovered to Rs.3,015 per gram on the 12th after the ongoing US-North Korea conflicts resulted in investors gravitating towards investments considered safer such as gold.
- Strong demand brought about by the positive trends overseas led to god rates rising to Rs.3,031 per gram – the highest recorded monthly figure - on the 18th.
- The dollar, however, regained lost ground over the next few days amid possibilities of an interest rate hike by the Federal Reserve. The yellow metal was recorded trading at Rs.3,012 per gram on the 24th.
- The month ended with gold priced at Rs.2,992 per gram on the 31st and Vellore registered an incline of 0.13% during the course of the month.
Gold Rate Trend In Vellore For December 2017:
- The last month commenced with the bullion trading at Rs.2,982 per gram on the 1st following a slight decline in demand for the metal.
- Gold price in Vellore plunged to Rs.2,917 per gram on the 8th as the US dollar gained against a basket of other major emerging currencies following approval of the landmark US tax reform plan by the US Senate.
- Strong dollar index coupled with rising equities led to gold rates declining as the week progressed.
- The 13th saw gold prices touching Rs.2,903 per gram – the lowest recorded monthly figure – with the US dollar strengthening after the release of new interest rates by the US Federal Reserve.
- However, with markets cautious over the ultimate result of the US tax bill on the country’s economic growth, the US dollar lost ground towards the end of the month. The precious metal was priced at Rs.2,956 per gram on the 23rd.
- With the Asian stock markets failing against the new tax cuts, gold rates surged further to Rs.2,985 per gram on the 28th.
- The month concluded with the bullion trading at Rs.3,015 per gram on the 31st, and Vellore recorded an incline of 1.10% in gold rates during the course of the month.
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Gold Rate Trend in Vellore for July 2017 to September 2017 (per gram of 24 karat gold)
|1st day||Rs.2,950 per gram||Rs.2,926 per gram||Rs.2,995 per gram|
|Last day||Rs.2,925 per gram||Rs.2,971 per gram||Rs.3,040 per gram|
|Highest price||Rs.2,950 per gram on 1 & 2 July||Rs.2,999 per gram on 29 August||Rs.3,109 per gram on 8 September|
|Lowest price||Rs.2,796 per gram on 11 July||Rs.2,899 per gram on 3 August||Rs.3,068 per gram on 5 September|
Gold rate trend in Vellore for July 2017
- The introduction of GST during the month greatly affected the yellow metal prices in Vellore, pushing demand lower for the metal.
- When the month commenced, gold was priced at Rs.2,950 per gram.
- Local demand declined sharply with the newly approved 3% Goods and Services Tax on the bullion metal. This led to gold rate in Vellore declining to Rs.2,796 per gram - the lowest monthly figure - on the 11th.
- However, prices recovered with the US-North Korean relations intensifying during the third and fourth week. This led to the gold price in Vellore being priced at Rs.2,925 per gram on the last day.
- A poor demand compounded by the implementation of GST in the country resulted in gold rates declining at 0.84% during the course of the month.
Gold rate trend in Vellore for August 2017
- Gold rate in Vellore picked up during the month with the bullion trade shaking recovering from the impact of GST.
- The yellow metal was recorded trading at Rs.2,926 per gram, when trading commenced for the month.
- Gold price in Vellore dropped to Rs.2,899 per gram - the lowest monthly figure - on the 3rd, as the dollar edged higher than most of the major emerging currencies.
- Gold trade recovered over the next couple of weeks, and the precious metal was trading at Rs.2,999 per gram on the 29th. This was due to the rising geopolitical concerns in the United States and the Korean peninsula.
- The month ended with the precious metal priced at Rs.2,971 per gram, registering a profit of 1.53% on account of the strong trend overseas.
Gold rate trend in Vellore for September 2017
- When trading commenced in Vellore, the yellow metal was priced at Rs.2,995 per gram.
- Safe-haven investments surged globally after North Korea announced their most powerful thermonuclear weapon test. This resulted in gold prices in Vellore rising to Rs.3,102 per gram - the highest recorded monthly figure - on the 8th.
- Gold trade maintained prices in the sub-Rs.3,040 per gram range for rest of the month.
- When trading concluded for the month, the precious metal was recorded trading at Rs.3,040 per gram on the 30th.
- Prices were greatly influenced by the geopolitical concerns in the United States and the Korean peninsula, and also with the arrival of the festive season in the country. This led to Vellore registering a profit of 1.50% in the bullion trade.
Gold Rate Trend in Vellore for April 2017 to June 2017 (per gram of 24 karat gold)
|1st day||Rs.2,956 per gram||Rs.2,984 per gram||Rs.2,977 per gram|
|Last day||Rs.2,984 per gram||Rs.2,968 per gram||Rs.2,962 per gram|
|Highest price||Rs.3,040 per gram on 15 April and 16 April||Rs.2,971 per gram on 23 May||Rs.3,012 per gram on 8 June|
|Lowest price||Rs.2,954 per gram on 8 April and 9 April||Rs.2,888 per gram on 15 May||Rs.2,942 per gram on 20 June|
Gold rate trend in Vellore for April 2017
- Gold traded at Rs.2,956 per gram on 1 April and fluctuated throughout the month of April.
- Due to an increase in the demand for gold from the domestic market, the precious metal was priced at Rs.2,987 per gram on 4 April.
- A strong U.S. dollar rate and the fluctuating stock markets contributed to a decline in the demand for gold. With other factors adding to the decline in demand, gold reached the monthly low of Rs.2,954 per gram on the 8 and 9 April.
- The U.S. dollar rates fluctuated due to the political tensions in the U.S., resulting in gold being priced at Rs.3,040 per gram on 15 and 16 April which was also recorded to be the highest for the month of April.
- Muted demand for gold from the international markets led to gold being priced at Rs.3,035 per gram on 22 and 23 April.
- Though the prices further dropped to Rs.2,984 per gram on the last day of the month, gold rates were recorded to an overall incline of 0.94% in the value.
Gold rate trend in Vellore for May 2017
- In the beginning of the month, the French Presidential Elections 2017 boosted the markets resulting in a reduced demand for gold. The prices fluctuated as gold began the month with Rs.2,984 per gram on 1 May.
- As investors turned away from the precious metal due to the strong markets, the demand for gold fell and priced it at Rs.2,899 per gram on 6 and 7 May.
- The yellow metal was priced at Rs.2,904 per gram on 9 May due to the fluctuating market and the strong U.S. dollar rates. The prices reduced further and gold was traded at Rs.2,888 per gram on 15 M ay.
- As the markets started fluctuating, in the search of safe havens, investors showed an incline in the demand for gold. A slight increase in the demand increase the gold prices to Rs.2,954 per gram on 19 and 20 May.
- The more or less gradual increase led to gold being priced at Rs.2,979 per gram on 27 and 28 May.
- The gold rates in Vellore ended at Rs.2,968 on the 31 May indicating an overall decline of -0.53% for the month of May.
Gold rate trend in Vellore for June 2017
- Gold traded at Rs.2,977 per gram on June 1 in Vellore. The fluctuating demand for gold reduced the prices to Rs.2,965 per gram on 2 June.
- Gold traded at Rs.3,006 per gram on 5 June and reached the monthly high of Rs.3,012 per gram on 8 June due to the weak U.S. dollar rates and the fluctuating stock markets.
- As the U.S. dollar rates started recovering, the demand for gold reduced from the local and the international markets and resulted in gold being priced at Rs.2,983 per gram on 12 June.
- The local government announced the implementation of GST, the concerns pertaining to the impact of GST on the bullion rates resulted in a subdued demand for gold from the domestic and international markets. The decline in demand led to the precious metal being priced at Rs.2,949 per gram on 19 June.
- The speculations related to the increase in bullion’s pricing due to GST caused a sudden increase in demand for gold. The gold prices rose to Rs.2,962 per gram on 30 June.
- Gold rates resulted in a -0.50% decline in the prices for the month of June in Vellore.
Gold Rate Trend in Vellore for January 2017 to March 2017 (per gram of 24 karat gold)
|1st day||Rs.2,821 per gram||Rs.2,957 per gram||Rs.2,994 per gram|
|Last day||Rs.2,942 per gram||Rs.3,001 per gram||Rs.2,942 per gram|
|Highest price||Rs.2,974 per gram on the 24th of January||Rs.3,014 per gram on the 24th and 25th of February||Rs.2,994 per gram|
|Lowest price||Rs.2,821 per gram on the 1st of January||Rs.2,940 per gram on the 3rd of February||Rs.2,906 per gram|
Gold Rate Trend for Vellore in January 2017
- Gold traded at Rs.2,821 per gram on the 1st of January due to relatively low demand in domestic markets. This was also the lowest at which gold was priced for the entire month.
- There was a marginal improvement noted in the rate of gold thereafter with gold trading at Rs.2,828 per gram on the 2nd and 3rd of January.
- The rate of gold varied between Rs.2,914 per gram to Rs.2,971 per gram between the 11th of January to the 18th of January.
- Due to a steep incline in the demand for this precious metal, gold traded at its highest for the month on the 24th of January at Rs.2,974 per gram.
- On the last day of the month, gold closed at Rs.2,942 per gram, recording a rise of 4.28% in the rate of gold.
Gold Rate Trend for Vellore in February 2017
- On the 1st of February, gold traded at Rs.2,954 per gram and stayed steady at this rate the next day as well.
- The next day, due to a fall in the demand for this metal, the rate of gold fell to a monthly low of Rs.2,940 per gram. However, after this the price of gold began to recover slowly.
- Gold traded steadily at Rs.2,964 per gram on the 11th and 12th of February due to sustained demand for this metal.
- Gold traded at its highest on the 24th and 25th of February at Rs.3,014 per gram. However this rate could not be sustained and the rate of gold fell to Rs.3,001 per gram recording an incline of 1.48% in the price of gold.
Gold Rate Trend for Vellore in March 2017
- The trend of gold was reversed during the month of March in Vellore. A number of variations were noted in the price of gold during the month.
- Gold traded at Rs.2,994 per gram on the 1st of the month and this was also the highest at which this metal traded for the month.
- As the week progressed, the rate of gold fluctuated.
- Due to the Dutch elections as well as the U.S. Fed’s decision regarding the interest rates, the rate of gold was at its lowest on the 15th of March at Rs.2,906 per gram.
- However, the rate of gold recovered marginally after this.
- As the month came to an end, gold traded at Rs.2,942 per gram on the 31st of March while recording an incline of 1.73% in the price of gold.
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