May 20
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Gold Rate In Tuticorin
Tuticorin or Thoothukudi is a seaport city in the state of Tamil Nadu. Tuticorin, one of the fastest growing sports in the country, is often touted as the ‘Emerging Energy and Industrial hub of South India.’ Tuticorin has a thriving fishing industry besides a thermal power plant.
Gold rates are set for recovery in 2016 as evident in the increase in the gold rates across cities in India including Tuticorin. 1 gm of 24 karat gold which was pegged at Rs.2578 on December 27th, 2015, rose by 0.1% to Rs.2583 on January 8th, 2016. Gold rates rose further throughout January in that 1 gm of 24 karat gold which pegged at Rs.2663 on January 17th rose by 1.4% to Rs.2701 on January 19th. The trend continued with the price of 1 gm of gold (24 karat) pegged at Rs.2717 towards the end of January. The month of February witnessed a similar trend as the price of gold rose by 5.4% to Rs.2865. The month of March witnessed a similar trend as 1 gm of 24 karat gold touched Rs.3035. Gold rates in Tuticorin fell from July-August 2015 onwards in that 1 gm of 24 karat gold which was pegged at Rs.2723 on August 20th, 2015 plummeted to Rs.2623 and Rs.2600 in the following months of September and November respectively.
Gold Rate Trend in Tuticorin 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 Tuticorin 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 Tuticorin For October 2017:
- Trading opened in Tuticorin with the precious metal priced at Rs.3,040 per gram on the 1st of October.
- The US dollar rose against a basket of other emerging currencies amid possibilities of an interest rate hike by the US Fed Reserve. This resulted in gold being priced at Rs.2,997 per gram on the 6th.
- An increase in domestic demand from local jewelers and retailers after the KYC norms were mandated in the country led to gold rates recovering to Rs.3,042 per gram on the 12th.
- The 14th witnessed god rates rising to Rs.3,059 per gram – the highest recorded monthly figure – following an incline in demand by local jewelers, industries and retailers amid the positive trends overseas.
- However, with the US dollar index recovering from the initial losses amid the well-performing equities, gold rate in Tuticorin plunged to Rs.3,026 per gram on the 20th.
- Gold prices continued to drop with the US dollar gaining against other apex currencies over the next few days. This led to the yellow metal being priced at Rs.3,000 per gram on the 26th.
- Trading concluded with the yellow metal priced at Rs.2,997 per gram on the last day ahead of three major central banks’ monetary policy meetings.
- The bullion trade in Tuticorin recorded a decline of 1.41% in gold rates as a result of the poor trends overseas that influenced demand for the metal during the course of the month.
Gold Rate Trend In Tuticorin For November 2017:
- The month began with gold trading at Rs.2,998 per gram on the 1st amid steady domestic demand for the metal.
- However, with the US dollar rising against other emerging currencies and the equity markets performing well against the commodities market, gold price in Tuticorin plunged to Rs.2,977 per gram on the 4th.
- The 6th recorded the lowest monthly figure of Rs.2,974 per gram before rates rebounded to Rs.2,995 per gram the next day with diplomatic relations deteriorating between the US and North Korea.
- Strong global cues coupled with an increased domestic demand led to gold rate in Tuticorin surging to Rs.3,015 per gram on the 12th.
- The poorly performing equities and the weak US dollar index led to the bullion prices hitting Rs.3,031 per gram – the highest recorded monthly figure – on the 18th.
- The US dollar, however, began regaining lost ground with President Trump’s US tax reform plan proposal towards the end of the month. The precious metal was recorded trading at Rs.3,012 per gram on the 24th.
- When trading concluded for the month, the bullion was priced at Rs.2,992 per gram on the 30th amid poor global trends and reduced domestic demand for the metal.
- Tuticorin recorded a 0.13% incline in gold rates during the course of the month.
Gold Rate Trend In Tuticorin For December 2017:
- The final month of 2017 commenced with the yellow metal priced at Rs.2,982 per gram on the 1st of December.
- The US Senate’s decision to clear the Republican tax bill after setting aside differences in the House resulted in the US dollar gaining against a basket of other emerging currencies. This led to gold rates in Tuticorin plunging to Rs.2,917 per gram on the 8th.
- The strengthening US dollar index coupled with firmer equities markets led to gold prices plummeting further as the month progressed.
- On the 13th, the precious metal was priced as low as Rs.2,903 per gram amid the poor trend overseas. This was also the lowest recorded monthly figure in the city.
- The US dollar, however, lost ground towards the end of the month with investors and stockists mulled over by the ultimate outcome of the biggest US tax bill on the country’s economic growth. The yellow metal was priced at Rs.2,956 per gram on the 23rd.
- The positive trend overseas coupled with strong domestic demand led to gold rates surging to Rs.2,985 per gram on the 28th.
- The last day saw the bullion trading as high as Rs.3,015 per gram with an incline in domestic demand by jewelers, industries, and jewelers brought about by strong global cues.
- Gold trade in Tuticorin registered an incline of 1.10% in bullion prices during the course of the month.
