Gold Rate In Karur
Karur, located in Deccan India or South India, is a town in Tamil Nadu. This town is well known for its industries on textiles and shares a love for gold that is ubiquitous to India. Karur has a rich history in which it was ruled by the Chera, Madurai Nayaks, Hyder Ali and the British, making it quite a central location of trade and business, reaffirming its prominence in gold, be it in jewelry or commercial applications.
24 karat gold
The purest variant of the yellow metal available in the market, it is also the softest and thus can’t be used on its own in making jewelry. 24 karat gold is always used in conjunction with other metals when it is being used for the purpose of making jewelry. That hardens the metal and renders it usable for daily wear and tear. 24 karat gold though is an ideal solution for those looking to invest in gold. As of March 10, 2010, a gram of gold of the 24 karat purity would cost INR 2968. This is actually a gram of the pure metal as indicated on banks’ charts. When purchased offline in gold coins, bars or jewelry, this rate will fluctuate. There had been a 5 year low in the rates of gold in 2015 and 2016 started off with gold rates slowly making their way back up. One gram of 24 karat gold has increased by around 400 rupees since January 2016 and it is expected that the rates will just keep on appreciating. The lowest value of gold was probably during the month of August 2015 wherein it was INR 2510 for one gram.
22 karat gold
Though a lesser sibling to the 24 karat gold and preferred less by aristocrats, it is the version of gold that is more feasible for buying in terms of jewellery and coins. This particular variant has a 92% purity and is marginally more affordable than its 24 karat sibling. Purchasing one gram of 22 karat gold in Karur would cost around INR 2760 as of March 10, 2016. Since it is the same metal, trends of falling rates as observed for 24 karat gold were also present for 22 karat gold. August 2015 saw the lowest rate of 22 karat gold at INR 2350 per gram and the beginning of 2016 saw the prices of 22 karat gold open at INR 2374 per gram.
Gold Rate Trend in Karur 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 Karur 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 Karur For October 2017:
- Trading commenced in Karur with the yellow metal prices holding at Rs.3,040 per gram on the 1st amid strong global cues.
- With the US dollar index rising against significantly against other apex currencies amid possibilities of a Fed rate hike, prices dropped to Rs.2,997 per gram on the 6th.
- Gold rate in Karur surged to Rs.3,042 per gram on the 12th due to an increased buying by local jewellers, industries and retailers.
- Strong demand coupled with positive trends overseas resulted in gold rates rising to Rs.3,059 per gram – the highest recorded monthly figure – on the 14th.
- However, with the US dollar regaining lost ground, demand for the metal declined as the month progressed. On the 20th, the bullion was priced at Rs.3,026 per gram amid the poor trend overseas.
- Poor global trends coupled with reduced domestic demand resulted in gold rates closing at Rs.2,997 per gram for the month of October.
- Karur recorded a decline of 1.41% in gold prices during the course of the month.
Gold Rate Trend in Karur For November 2017:
- The bullion trade opened in Karur with gold trading at Rs.2,998 per gram.
- Gold price in Karur dropped to Rs.2,977 per gram on the 4th after the US dollar index rose against a basket of other apex currencies.
- The 6th witnessed gold rates plummeting to Rs.2,974 per gram – the lowest recorded monthly figure – owing to a reduced demand brought about by the poor trends overseas.
- However, with the US-North Korean diplomatic relations deteriorating during the month, demand for safe-haven assets surged globally. This led to the precious metal being priced at Rs.3,015 per gram on the 12th.
- Strong trends overseas coupled with an increased demand for the bullion resulted in rates surging to Rs.3,031 per gram – the highest recorded monthly figure – on the 18th.
- With the US dollar regaining lost ground over the next few day, prices plunged to Rs.3,012 per gram on the 24th.
- The month ended with the yellow metal prices holding at Rs.2,992 per gram on the 30th with reduced demand amid the strong greenback and firmer equities.
- Gold rate in Karur surged by 0.13% during the course of the month.
Gold Rate Trend in Karur For December 2017:
- The last month began with the precious metal trading at Rs.2,982 per gram with the US dollar recovering from the previous month’s losses in the world markets.
- With the approval of a landmark tax overhaul plan by the US Senate, the dollar index rose further against other emerging currencies. This led to gold rates plunging to Rs.2,917 per gram on the 8th.
- A poor demand brought about by the strong dollar and firmer equities led to gold prices declining to Rs.2,903 per gram on the 13th. This was also the lowest recorded monthly figure in Karur.
- The dollar, however, dropped significantly following the US Federal Reserve’s decision to raise its benchmark interest rates. This led to bullion prices rebounding to Rs.2,956 per gram on the 23rd.
- Strong global cues coupled with an increased demand by industries, jewellers and retailers led to gold rates rising further Rs.2,985 per gram on the 28th.
- Trading concluded for the quarter with the yellow metal priced at Rs.3,015 per gram on the last day, thanks to strong investor sentiments amid the firm trend overseas.
- Karur registered a profit of 1.10% in gold trade amid the positive global trends during the course of the month.
