Gold Rate In Kerala

December 2017 – Week 1 (1st – 10th)

• In Kerala, when trading commenced for the month, the precious metal was priced at Rs.2,921 per gram after precious metal lost its shine following the release of a positive US economic data.
• However, with the US tax reform bill stalled due to the conflicting opinions in the US Senate, the dollar value declined. This led to gold rate in Kerala rising to Rs.2,931 per gram on the 2nd.
• Steady and subdued demand amid the poor trend overseas led to the yellow metal trading steady at Rs.2,931 per gram until the 4th.
• The US tax reform bill, however, was cleared by the Senate following a vote in the tax legislation. This pushed the dollar higher over the next couple of days and the precious metal was priced at Rs.2,901 per gram on the 7th.
• The 8th witnessed gold trading at Rs.2,877 per gram, but the bullion trade plunged further after a strong dollar index coupled with firmer equity markets resulted in gold being priced as low as Rs.2,862 per gram – the lowest level in nearly four months – on the 9th.
• The week concluded with the yellow metal trading at Rs.2,862 per gram owing to the poor trend overseas and subdued local demand.

December 2017 – Week 2 (11th – 17th)

• When trading began in Kerala for the week, gold was priced at Rs.2,842 per gram.
• Due to poor demand, gold price in Kerala dropped to Rs.2,786 per gram the next day and continued at this rate till the end of the 13th.
• The 14th saw gold rates in Kerala increased to Rs.2,836 per gram thanks to positive global cues amid the latest and the last Fed rate hike of 2017.
• Gold prices continued at Rs.2,836 per gram on the 15th due to sustained buying from local investors.
• On the 16th, however, gold rate in Kerala dropped to Rs.2,816 per gram as demand started to trail off.
• When the week ended, the yellow metal was still trading at Rs.2,816 per gram.

December 2017 – Week 3 (18th – 24th)

• Gold rate in Kerala were mostly influenced by the impact of US tax reform bill on the commodity and equity markets during the week.
• The yellow metal was recorded trading at Rs.2,836 per gram on the 18th when the week began.
• Strong global trends coupled with steady demand led to prices rising to Rs.2,847 per gram on the 19th and the 20th.
• Equity markets muted with investors worried about the tax reform’s negative impact on the country’s economy. This led to gold rates rising further to Rs.2,857 per gram on the 21st.
• However, the 22nd witnessed gold price in Kerala plunging to Rs.2,842 per gram as the dollar strengthened against other apex currencies after the US Senate cleared the landmark tax bill to overhaul the country’s tax system.
• But the newly approved tax cuts led to Asian markets falling during the week. This proved to be favorable for the bullion trade and gold rates surged to Rs.2,858 per gram on the 23rd.
• Strong domestic demand coupled with positive trends overseas led to prices remaining unchanged at Rs.2,858 per gram on the 24th.

December 2017 – Week 4 (25th-31st)

• Gold rates in Kerala recovered considerably over the final week of December.
• On the 25th of December, the yellow metal was trading at Rs.2,858 per gram, but surged to Rs.2,868 per gram the next day due to strong trading cues.
• Rates went up again on the 27th to hit Rs.2,878 per gram as local trading was affected by the positive trend witnessed in the international market.
• The 28th again saw gold rates increase to Rs.2,899 per gram – while internationally prices had hit one-month high figures.
• On the 29th, gold rates went up to Rs.2,909 per gram as the US dollar’s exchange rate remained weak amid various issues.
• For the remaining two days of the month and year, silver prices remained at Rs.2,909 per gram as the US dollar continued to remain weak amid rising inflation.