Apr 28
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Gold Rate Trend in Tirunelveli
Tirunelveli which is also known as Nellai is a city located in South Indian state, Tamil Nadu. Tirunelveli is the sixth largest municipal corporation in Tamil Nadu. It is situated on the west bank of Thamirabarani river.The city is known to be the education hub of Southern Tamil Nadu.
Gold Rate Trend in Tirunelveli 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 Tirunelveli 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 Tirunelveli For October 2017:
- The final quarter of the year began with the bullion trading at Rs.3,040 per gram on the 1st.
- With the possibility of an interest rate hike by the Federal Reserve during the quarter, the US dollar gained against a basket of other emerging currencies. This led to gold rate in Tirunelveli plunging to Rs.2,997 per gram on the 6th.
- However, with the KYC norms being made mandatory, an increase in demand brought about by strong buyer sentiments led to gold price in Tirunelveli rebounding to Rs.3,042 per gram on the 12th.
- Gold rates hit their highest for the month at Rs.3,059 per gram on the 14th amid the positive overseas trends that resulted in increased domestic demand from jewellers, industries and retailers.
- The US dollar, however, regained ground over the next few day amid stronger equities. This led to gold being priced at Rs.3,026 per gram on the 20th.
- With investors and traders speculating over the possibility of a Fed rate hike, gold rates plummeted to Rs.3,000 per gram on the 26th.
- The month ended with the bullion priced at Rs.2,997 per gram on the 31st with markets mulled over by the major central banks’ monetary policy meetings.
- Tirunelveli registered a loss of 1.41% in gold prices amid the poor global trends that pushed demand lower for the metal during the course of the month.
Gold Rate Trend In Tirunelveli For November 2017:
- Trading opened in Tirunelveli with the yellow metal priced at Rs.2,998 per gram on the 1st.
- Prices declined to Rs.2,977 per gram on the 4th after the strengthening US dollar coupled with firmer equities led to a decline in global demand for the metal.
- The 6th saw gold rate in Tirunelveli hitting their lowest at Rs.2,974 per gram before rising to Rs.2,995 per gram on the 7th amid the ongoing US-North Korean conflicts.
- On the 12th, gold was recorded trading at Rs.3,015 per gram with strong domestic demand for the metal brought about by strong global cues.
- Gold rate in Tirunelveli surged to Rs.3,031 per gram on the 18th with the US dollar losing ground against other major emerging currencies and equities performing poorly. This was also the highest recorded figure during the month.
- However, with the US dollar recovering from the previous weeks’ losses, gold prices plunged to Rs.3,012 per gram on the 24th.
- Prices began to decline towards the end of the month after Trump proposed the new US tax bill to overhaul the country’s present tax system at the US Senate.
- Trading concluded with the precious metal trading at Rs.2,992 per gram on the 30th. Gold rates in Tirunelveli registered an incline of 0.13% during the course of the month.
Gold Rate Trend In Tirunelveli For December 2017:
- Gold trade in Tirunelveli opened with the bullion priced at Rs.2,982 per gram on the 1st amid the firm trend overseas.
- However, with the US dollar rates picking up after the approval of the biggest US tax reform plan to overhaul the country’s tax system in thirty years, demand for the yellow metal declined. This led to gold being priced at Rs.2,917 per gram on the 8th.
- The 13th witnessed gold rates hitting their lowest recorded monthly figure of Rs.2,903 per gram with the strengthening US dollar and firmer equities pushing demand lower for the metal.
- With investors speculating over the final result of the US tax reform bill on the US economy, the dollar lost its ground. This led to gold prices rebounding to Rs.2,956 per gram on the 23rd with strong demand from local jewellers, industries and retailers.
- On the 28th, the yellow metal was recorded trading at Rs.2,985 per gram with the strong trends overseas coupled with an increased demand for the metal pushing metal prices higher towards the end of the month.
- When trading closed for the month, the bullion was priced at Rs.3,015 per gram on the 31st with Tirunelveli registering a profit of 1.10% in gold trade during the course of the month.
