May 24
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Gold Rate in Dindigul
Dindigul is one of the major commercial hubs in the state of Tamil Nadu. Dindigul is known for its muslins, silks, blankets and horticulture among others. The precious yellow metal is held in high regard in Dindigul as a conventional form of investment. The precious metal is also viewed as a safe haven against inflation in Dindigul. Many residents in Dindigul buy Gold as a form of security for periods of any financial instability as the precious metal can be used as a collateral for loans.
Gold Rate Trend in Dindigul for January 2018 to March 2018 (per gram of 24 karat gold)
| Factor | January | February | March |
| 1st day | Rs.3,002 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.3,084 per gram on 20 & 21 January | Rs.3,103 per gram on 14 February | Rs.3,105 per gram on 24 & 25 March |
| Lowest price | Rs.3,001 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 | 1.43% | 0.19% | 0.95% |
Gold Rate Trend in Dindigul 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.2,997 per gram | Rs.2,988 per gram | Rs.3,015 per gram |
| Highest price | Rs.3,059 per gram on 14 and 15 October | Rs.3,031 per gram on 18, 19 November | Rs.3,015 per gram on 30, 31 December |
| Lowest price | Rs.2,997 per gram on 12 October 27, 30 and 31 October October | Rs.2,974 per gram on 6 November | Rs.2,903 per gram on 13 December |
| Trend | Decline | Incline | Incline |
| Change | 1.41% | 0.47% | 1.10% |
Gold rate trend in Dindigul for October 2017:
- The month began with the precious metal trading at Rs.3,040 per gram on the 1st of October.
- Gold rate in Dindigul dropped to Rs.2,997 per gram on the 6th after the US dollar gained against other apex currencies amid possibilities of an interest rate hike by the US Federal Reserve during the quarter.
- The government’s decision to make KYC norms mandatory received positive buyer sentiments in the domestic trade. A strong increase in local demand from jewellers, retailers and industries led to gold being priced at Rs.3,042 per gram on the 12th.
- Strong domestic demand coupled with firm trends overseas led to the gold price in Dindigul surging to Rs.3,059 per gram on the 14th. This was also the highest recorded monthly figure in Dindigul.
- The US dollar, however, regained lost ground amid firmer equities over the next few days. This led to the yellow metal prices plunging to Rs.3,026 per gram on the 20th.
- A strengthening US dollar compounded by the well-performing equity markets led to gold rates dropping further to Rs.3,000 per gram on the 26th.
- When trading concluded for the month, the bullion was recorded trading at Rs.2,997 per gram on the 31st ahead of major central banks’ monetary policy meetings.
- Dindigul recorded a decline of 1.41% in gold trade during the course of the month.
Gold rate trend in Dindigul for November 2017:
- Trading commenced for the month with the bullion priced at Rs.2,998 per gram on the 1st of November.
- A decline in domestic demand brought about by the strengthening US dollar over the next few days led to gold rate in Dindigul plunging to Rs.2,977 per gram on the 4th.
- Poor global trends coupled with reduced local demand led to gold prices in Dindigul hitting their lowest recorded monthly figure of Rs.2,974 per gram on the 6th.
- However, with diplomatic relations deteriorating between the US and North Korea, demand for safe-haven assets such as gold spiked worldwide. This resulted in gold rate in Dindigul rebounding to Rs.3,015 per gram on the 12th.
- The bullion prices surged further to Rs.3,031 per gram – the highest recorded monthly figure -on the 18th with the US dollar losing against a basket of other emerging currencies in the global market.
- The dollar, however, regained lost ground from the previous weeks’ losses towards the end of the month and the precious metal was priced at Rs.3,012 per gram on the 24th.
- The Republican US tax reform plan proposed by President Trump to overhaul the country’s present tax system received positive sentiments from the people. This led to the US dollar gaining against other emerging currencies.
- The month came to an end with the yellow metal trading at Rs.2,992 per gram on the 30th and Dindigul registered a profit of 0.13% in bullion trade during the course of the month.
Gold rate trend in Dindigul for December 2017:
- The final month of the quarter began with the yellow metal priced at Rs.2,982 per gram with a slight decline in domestic demand from the previous month.
- The approval of the biggest tax system overhaul bill by the US Senate in thirty years resulted in the US dollar gaining significantly against other apex currencies. Demand for the metal declined against the high US dollar index and gold rates in Dindigul were holding at Rs.2,917 per gram on the 8th.
- On the 13th, gold rates in Dindigul hit their lowest figure for the month at Rs.2,903 per gram due to poor global trends that pushed demand lower for the bullion.
- However, the US dollar lost its sheen after the Federal Reserve decided to raise its benchmark interest rates. This resulted in gold rates recovering to Rs.2,956 per gram on the 23rd with an increase in global demand.
- Gold price in Dindigul surged further to Rs.2,985 per gram on the 28th with investors and stockists mulled over the ultimate outcome of the US tax bill on the country’s economic growth.
- The month concluded with the bullion trading at Rs.3,015 per gram on the 31st amid the positive trend overseas. Dindigul recorded an incline of 1.10% in gold prices during the month of December.
