Apr 17
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Gold Rate In Andhra Pradesh
Gold rate in Andhra Pradesh depends on several factors including its extensive use – from decking up idols during auspicious festivals (including religious processions common in this part of the country) and intricate bridal jewellery to gold bars and biscuits, to name a few. Andhra Pradesh is one of the largest producers of gold in the country.
Gold Rate Trend in Andhra Pradesh for January 2018 to March 2018 (per gram of 24 karat gold)
| Factor | January | February | March |
| 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 |
| Trend | Incline | Incline | Incline |
| Change | 1.19% | 0.19% | 0.95% |
Gold Rate Trend in Andhra Pradesh for October 2017 to December 2017 (per gram of 24 karat gold)
| Factor | October | November | December |
| 1st day | Rs.3,040 per gram | Rs.2,974 per gram | Rs.2,982 per gram |
| Last day | Rs.2,996 per gram | Rs.2,996 per gram | Rs.3,015 per gram |
| Highest price | Rs.3,059 per gram on 14 and 15 October | Rs.3,030 per gram 18 to 20 November | Rs.3,015 per gram on 30 and 31 December |
| Lowest price | Rs.2,996 per gram on 31 October | Rs.2,974 per gram on 1 and 6 November | Rs.2,906 per gram on 13 December |
| Trend | Decline | Incline | Incline |
| Change | -1.44% | 0.73% | 1.10% |
Gold Rate Trend in Andhra Pradesh for October 2017:
- When trading commenced in Andhra Pradesh, the precious metal was recorded trading at Rs.3,040 per gram on the 1st amid strong trends overseas.
- The next few days saw the US dollar index surging against other emergencies amid possibilities of an interest rate hike by the Federal Reserve.
- On the 6th, the yellow metal prices were recorded holding at Rs.2,997 per gram amid the poor trends overseas.
- A rise in domestic demand from local jeweller, retailers and industries ahead of the festive season resulted in rates rising to Rs.3,027 per gram on the 9th.
- The 14th saw gold rates hitting the highest recorded monthly figure at Rs.3,059 per gram amid the positive trends overseas.
- However, with the US doll regaining lost ground, prices dropped to Rs.3,026 per gram on the 20th.
- The month concluded with the yellow metal trading at Rs.2,996 per gram on the 31st amid the strengthened US dollar and firmer equities market.
- Poor global cues coupled with reduced domestic demand resulted in bullion prices dropping by 1.44% during the course of the month.
Gold Rate Trend in Andhra Pradesh for November 2017:
- The month opened with the precious metal priced at Rs.2,974 per gram on the 1st with relatively lower demand for the metal from the previous week.
- The next few days saw gold rates remaining unchanged with the US dollar performing well amid stronger equities. Gold prices were recorded holding at Rs.2,974 per gram until the 6th of November.
- With the US-North Korean diplomatic relations worsening, safe-haven demand for the metal surged during the month. The yellow metal was priced at Rs.3,015 per gram amid strong demand.
- Thanks to an increased demand from local jewellers, retailers and industries amid the strong trends overseas, god rates surged to Rs.3,030 per gram on the 19th.
- However, prices plunged to Rs.3,009 per gram on the 28th after the promising US tax reform plan produced by President Trump at the US Senate resulted in the US dollar gaining against a basket of other emerging currencies.
- The month concluded with the precious metal prices holding at Rs.2,998 per gram due to reduced domestic demand for the metal amid poor trends overseas.
- Gold rates saw an incline of 0.73% during the course of the month.
Gold Rate Trend in Andhra Pradesh for December 2017:
- The final month of the quarter commenced with the bullion priced at Rs.2,982 per gram on the 1st after the strong US dollar index resulted a decline in domestic demand for the metal.
- Prices continued to drop as the month progressed amid the rising dollar and equities. The yellow metal was recorded trading at Rs.2,968 per gram on the 5th.
- With the US greenback and equity markets gaining significantly after the approval of the US tax bill, gold rates plummeted over the next few days.
- On the 12th, the precious metal was recorded trading at Rs.2,908 per gram which plunged further to hit its lowest recorded monthly figure of Rs.2,906 per gram on the 13th ahead of the US Federal Reserve’s monetary policy meeting.
- However, the Fed rate hike proved to have a negative impact on the economy and pushed demand higher for safe-haven assets such as the bullion. This led to gold prices rising to Rs.2,933 per gram on the 19th.
- The 23rd saw rates surging further to Rs.2,956 per gram with the Asian stocks failing against the revised US tax cuts, thus, pushing demand higher for the yellow metal.
- The month came to an end with the bullion priced at Rs.3,015 per gram on the 31st amid strong global cues.
- Gold trade in Andhra Pradesh registered a profit of 1.10% owing to strong domestic demand amid the firm trends overseas.
