May 17

Gold Rate In Hosur

Team Antworks

The modern day Hosur, located in Tamil Nadu is a satellite town of Bangalore, though it falls under the legalities and jurisdiction of Tamil Nadu. Hosur houses many industrial complexes and SEZs for industrial companies. Though from a birds-eye-view it might seem that Hosur is not a very prospering region, looks often belie the fact that the region is quite prosperous and residents invest in gold quite frequently.

Gold Rate Trend in Hosur 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 Hosur for January 2018:

Gold rates in Hosur saw considerable fluctuations over the first quarter of 2018
When the month of January began in Hosur, gold was priced at Rs.3,002 per gram.
Demand was very weak during the first week, which caused gold prices to drop to Rs.3,001 per gram – the month’s lowest rate.
The subsequent days saw gold prices rise consistent as the US dollar weakened amid poor equity market conditions.
Gold prices improved over the next few days, albeit with considerable fluctuations, as investors took advantage of a shaky US dollar.
The 20th and the 21st saw gold rates rise up to Rs.3,084 per gram – the month’s highest rates as demand was on the rise.
Over the remaining days of the month, gold prices consolidated as demand slowed down.
When the month ended, gold prices were recorded at Rs.3,045 per gram.
Gold price in Hosur inclined by 1.43% this month because of a strong demand seen during the third week.

Gold Rate Trend in Hosur for February 2018:

February’s trading began with gold prices dropping down to Rs.3,040 per gram on the first day.
Gold rate in Hosur held steady for the first seven days before a steady dollar pushed prices down to Rs.3,003 per gram – the month’s lowest rates.
However, gold demand increased during the end of the third week as wedding season was approaching. This caused gold to trade at a consistently high price for a few days.
On the 14th, gold traded at a monthly high figure of Rs.3,1,03 per gram before dropping down once demand flatlined,
For the remainder of the month, gold prices consolidated as demand failed to pick up. The month ended with gold trading at Rs.3,046 per gram – a Rs.6 change from the first day’s rates.
This month saw a marginal change in price trends with the recorded difference holding at just 0.19%.

Gold Rate Trend in Hosur for March 2018:

March’s trading was relatively better compared to that of February with prices peaking towards the final half of the month.
On the 1st of March, gold was priced at Rs.3,043 per gram, which rose to as high beyond the Rs.3,080 limit as demand surged.
However, the US dollar consolidated its loses, which pushed gold rate in Hosur down for a few days.
As the dollar’s gain remained steady towards the third week, gold rates went down to a monthly low figure of Rs.3,030 per gram on the 19th.
Gold demand rebounded the subsequent week as various changes in the US dollar dynamic brought about an increase in purchases.
The 24th and the 25th saw gold trade at Rs.3,105 per gram – the month’s highest rates – as fears of a trade war pushed the US dollar down. This, in turn, caused safe haven demand to increase and gold prices in Hosur rose as a result.
Gold was priced at Rs.3,072 per gram when the month ended, recording a 0.95% incline over the course of the month’s trading sessions.

Gold Rate Trend in Hosur for October 2017 to December 2017 (per gram of 24 karat gold)

Factor	October	November	December
1st day	Rs.3,040 per gram	Rs.2,988 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
Trend	Decline	Incline	Incline
Change	-1.41%	0.13%	1.10%

Gold Rate Trend in Hosur for October 2017:

The month began with the yellow metal trading at Rs.3,040 per gram on the 1st amid firm trend overseas.
However, possibilities of an interest rate hike by the US Federal Reserve resulted in the dollar rising against a basket of other currencies. This led to gold rate in Hosur dropping to Rs.2,997 per gram on the 6th.
Domestic demand from jewellers and retailers surged with the festive season around the corner. This led to prices rising to Rs.3,027 per gram on the 9th.
Gold rate in Hosur hit their highest recorded monthly figure of Rs.3,059 per gram on the 14th with strong local demand amid the positive global trends.
On the 20th, with the US dollar recovering from the previous days’ losses, bullion rates plunged to Rs.3,026 per gram.
The strong US dollar index coupled with firmer equities brought about by speculating on the possible Fed rate hike during the quarter led to gold rates closing at Rs.2,996 per gram on the last day. This was also the lowest recorded monthly figure in the city.
Hosur witnessed gold prices declining by 1.41% amid the poor global cues during the month.

Gold Rate Trend in Hosur for November 2017:

Trading commenced for the month with the bullion priced at Rs.2,974 per gram on the 1st with declining demand for the metal.
With the dollar gaining against other apex currencies amid the well-performing equities, the gold price in Hosur plunged to Rs.2,974 per gram on the 6th.
The geopolitical crisis in the US and the Korean Peninsula resulted in an increased safe-haven demand around the world. This led to gold rates rebounding to Rs.3,015 per gram on the 10th.
Strong global cues coupled with an increased domestic demand from local jewellers, industries and retailers resulted in gold being priced at Rs.3,030 per gram on the 19th.
However, with the US tax reform plan being produced in the US Senate by the US President, the dollar regained lost ground. This resulted in gol rate in Hosur plunging to Rs.3,009 per gram on the 28th.
When trading ended for the month, the precious metal was recorded trading at Rs.2,998 per gram amid the poor trends overseas and Hosur recorded an incline of 0.713% in the bullion trade during the course of the month.

Gold Rate Trend in Hosur for December 2017:

Trading opened in Hosur with the yellow metal prices holding at Rs.2,982 per gram following a decline in demand from jewellers, retailers and industries amid poor global cues.
The 5th witnessed gold rates plunging to Rs.2,968 per gram after the US dollar rose against the basket of other emerging currencies with the approval of the landmark US tax reform plan.
The strong dollar performance coupled with gaining equities resulted in prices declining considerably during the month.
Gold was recorded trading at Rs.2,908 per gram on the 12th before plummeting to a monthly low of Rs.2,906 per gram the next day after investors refrained themselves from making purchases ahead of the Federal Reserve meeting.
However, the dollar lost its sheen following the Fed rate hike, thus, pushing demand higher for the safe-haven metal. Gold was recorded trading at Rs.2,933 per gram on the 19th.
With investors gravitating towards safe-haven assets such as the bullion to hedge against the tax system overhaul concerns, gold rate in Hosur rose to Rs.2,956 per gram on the 23rd.
A decline in the Asian stocks following the new tax cuts resulted in the dollar and equities losing in the global markets.
Strong trends overseas coupled with an increased domestic demand resulted in the bullion being priced at Rs.3,015 per gram on the 31st, and Hosur registered an incline of 1.10% in gold rates during the month of December.