May 19
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Gold Price Trend in Hyderabad
Trend of Gold Rate in Hyderabad for June 2017 (rates per gram for 24 karat gold)
| Parameters | Gold price (24karat) |
|---|---|
| June 1 Rate | Rs.2,985 per gram |
| June 30 Rate | Rs.2,967 per gram |
| Highest Rate in June | Rs.3,030 per gram on 7 June |
| Lowest Rate in June | Rs.2,940 per gram on 20 & 27 June |
| Overall Performance | Decline |
| Percentage Change | -0.60% |
June 2017 – Week 1 (1st-4th):
- Telangana’s capital Hyderabad saw one of the biggest changes in gold prices during the first week of June.
- On the 1st of June, gold was priced at Rs.2,985 per gram seeing as how there was a slump in demand went down to Rs.2,964 per gram.
- As prices increased internationally, there was a sharp incline in Hyderabad as well, which saw prices increase by Rs.34 to hit Rs.2,998 per gram on the 3rd.
- Demand sustained for much of the 4th as gold was still trading at Rs.2,998 per gram as weekend approached.
June 2017 – Week 2 (5th – 11th)
- The city of Hyderabad gave way to the 5th of May with a gold trading price of Rs.3,012 per gram.
- Concerns over US Labour Department’s Employment Report, prices went up very slightly to Rs.3,013 per gram on the 6th.
- The 7th saw prices rise by Rs.17 due to a weakening dollar to end the day’s gold rate at Rs.3,030 per gram.
- As the demand couldn’t be sustained, gold prices went back down to Rs.3,017 per gram on the 8th.
- The 9th recorded gold prices fall by a massive margin as they went down to Rs.,2,987 per gram – a whopping Rs.30 per gram decrease.
- Prices corrected themselves on the 10th to hit Rs.2,981 per gram before continuing at the same rate till the end of the week.
June 2017 – Week 3 (12th-18th):
- The rate of gold fluctuated quite a bit during the third week of June in the city of Hyderabad.
- On the first day of the week, gold was priced at Rs.2,975 per gram and increased marginally the next day to trade at Rs.2,977 per gram.
- As the week progressed the rate of gold increased until the 14th of the month but declined thereafter.
- An issue regarding the import of bullion by banks’ was noted due to lack of clarity with respect to GST.
- On the last day of the week, the gold rate in Hyderabad fell to Rs.2,955 per gram due to a fall in the demand for this metal.
June 2017 – Week 4 (19 to 25)
- Hyderabad’s gold prices fluctuated in the fourth week due to demand vagaries as well as prevalent trends.
- Gold traded at Rs.2,949 per gram on 19 June, but the price fell to Rs.2,940 per gram the following day due to a dip in demand brought about by a surge in markets.
- Demand was bolstered by higher volumes of purchases before the implementation of the indirect tax regime, which led to prices rising to Rs.2,956 per gram on 22 June.
- Prices continued to rise over the rest of the week, trading at Rs.2,958 per gram on 23 June as demand continued to remain steady, with the fluctuating U.S. Dollar also boosting demand for bullion.
- Prices rose as the week ended, with gold trading at Rs.2,964 per gram on 25 June.
June ’17 – Week 5 (26 to 30)
- The price of the yellow metal in Hyderabad in the last week of June reflected trends seen across other major Indian cities, with prices fluctuating due to market instability.
- Gold was priced at Rs.2,977 per gram on 26 June but prices dropped the next day, trading at Rs.2,940 per gram due to a sharp reduction in demand from overseas.
- Prices bounced back to trade at Rs.2,967 per gram on 28 June as increased buying before GST pushed prices higher in Hyderabad in spite of the U.S. Dollar continuing to make gains.
- Prices dipped to Rs.2,960 per gram on 29 June due to minor dips in demand from industry but the pre-GST spurt in sales resulted in gold recovering to trade at Rs.2,967 per gram on 30 June.
