Apr 17

Gold Rate in Trichy

Team Antworks

Gold is a sought-after precious metal in Trichy as people buy it in the form of intricate jewelry, gold coins and bars among others. It is a sign of prosperity in Trichy and consumers across the city, therefore, buy the precious metal both as a sign of status and traditional investment. Gold rates in Trichy are subject to various developments in India and across the world.

Gold as an Investment in Trichy

Jewelry: Most prefer buying gold jewelry as a safe and long-term investment for generations. Experts believe an analysis of the history of gold over the years clearly indicates that the precious yellow metal has beaten inflation on a consistent basis. Experts, therefore, suggest that consumers should not get bogged down by short-term price corrections.

Coins: Apart from private jewelers across Trichy, reputed banks such as SBI sell gold coins which minimizes the risk of fraud. Gold coins are available in different sizes – 2, 4, 5, 8, 10, 20 and 50 grams. Banks guarantee the purity of the coins but won’t buy back the gold coins, which is often cited as one of the reasons urging customers to buy coins from jewelers instead. Also, there is a premium to be paid for buying gold from banks.

ETFs: Since it is traded like stocks on an exchange, ETF is eligible for long-term capital gains after one year (physical gold is eligible for long-term capital gains after three years). There is no risk of theft and no hassles in terms of storage costs. Some of the advantages are no sales tax, wealth tax or VAT are applicable on gold ETFs.

Trend of Gold Rate in Trichy for February 2018 (rates per gram for 24 karat gold)

Parameters	Gold price (24 karat)
Gold Rate on 1st February 2018	Rs.3,040 per gram
Gold Rate on 28th February 2018	Rs.3,046 per gram
Highest Rate in February	Rs.3,103 per gram on 14 February
Lowest Rate in February	Rs.3,003 per gram on 8 February
Overall Monthly Performance	Incline
Percentage Change	0.19%

February 2018 – Week 1 (1 to 4):

The first week saw gold rates in Trichy initially rise before declining as the US dollar strengthened towards the end of the week.
The week began with the precious metal trading at Rs.3,040 per gram on the 1st after the US Federal Reserve’s two-day monetary policy meeting concluded with the interest rates remaining altered.
With the US dollar losing against other emerging currencies ahead of the US jobs data, gold price in Trichy surged to Rs.3,071 per gram on the 2nd.
The employment data, however, proved to be stronger than expected with the data reporting an increase in the number of US jobs. This led to the dollar strengthening and gold prices plunged to Rs.3,050 per gram on the 3rd.
Thanks to steady demand from domestic retailers and jewelers, rates remained untouched at Rs.3,050 per gram until the end of the week.

February 2017 – Week 2 (5 to 11):

The week saw gold price in Trichy fluctuate considerably with vagaries in demand amid uneven global cues during the week.
Gold was priced at Rs.3,035 per gram on the 5th when the week commenced.
However, massive shares and equity liquidation in the international market led to an incline in demand for safe-haven assets such as gold and silver. This led to gold prices surging to Rs.3,071 per gram on the 6th.
Rates plunged to Rs.3,031 per gram on the 7th after the dollar regained lost ground amid the recovering equities market.
With investors speculating over a possible Fed rate hike, the US dollar index rose against a basket of other emerging currencies. The precious metal was recorded trading at Rs.3,003 per gram – the lowest recorded monthly figure – on the 8th amid the weak trend overseas.
The 9th saw gold rate in Trichy rebounding to Rs.3,018 per gram after local jewellers and retailers ramped up purchases to stock their inventories.
Steady domestic demand despite the bleak trend overseas led to gold rates remaining untouched at Rs.3,023 per gram for the rest of the week.

February 2018 – Week 3 (12 to 18):

The third week saw gold rate in Trichy surging significantly with the US dollar losing its sheen amid inflation concerns.
The week commenced with the yellow metal prices slightly higher at Rs.3,025 per gram on the 12th with the dollar losing against other apex currencies.
With investors and stockists contemplating ahead of the US inflation data, the US dollar weakened. This led to gold prices surging to Rs.3,030 per gram on the 13th.
The 14th saw gold rates in Trichy touching their highest monthly figure of Rs.3,103 per gram after the US dollar index lost against a basket of other emerging currencies in the international market.
With the US greenback recovering from the previous day’s losses, gold rates plummeted to Rs.3,071 per gram on the 15th.
However, the dollar lost after the US inflation data failed to meet market expectations and resulted in rates rising to Rs.3,074 per gram on the 16th.
On the 17th, with investors mulled over by the inflation data, demand for safe-haven assets surged. This led to bullion prices rebounding to Rs.3,096 per gram on the 17th.
The week concluded with gold price in Trichy holding firm at Rs.3,096 per gram on the 18th as traders and investors hedged on the bullion amid inflation concerns.

February 2018 – Week 4 (19 to 25):

With the US dollar recovering from its previous rally of losses, gold rates plunged considerably during the week.
The yellow metal was recorded trading at Rs.3,083 per gram on the 19th when the week commenced.
Gold price in Trichy dropped to Rs.3,068 per gram on the 20th before plummeting further to Rs.3,057 per gram on the 21st after the US dollar index gained against other major currencies.
The 22nd saw gold rate in Trichy holding at Rs.3,054 per gram amid the weak trends overseas.
However, an increase in demand from local industries, retailers and jewelers despite the poor trends overseas led to bullion prices rebounding to Rs.3,060 per gram on the 23rd.
The week ended with the precious metal priced at Rs.3,067 per gram on the 24th tracking a steady domestic demand.

February 2018 – Week 5 (26 to 28):

The final week began with gold price in Trichy trading at Rs.3,069 per gram on the 26th.
With the US dollar losing ahead of the new Fed chief’s first congressional address to the nation, gold rate in Trichy remained untouched at Rs.3,069 per gram on the 27th.
The month came to an end with the precious metal prices dropping to Rs.3,046 per gram on the 28th as the US dollar regained lost ground in the international markets.
The bullion trade in Trichy witnessed an incline of 0.19% in gold rates during the course of the month.

Trend of Gold Rate in Trichy for January 2018 (rates per gram for 24 karat gold)

Parameters	Gold price (24 karat)
Gold Rate on 1st January 2018	Rs.3,009 per gram
Gold Rate on 31st January 2018	Rs.3,045 per gram
Highest Rate in January	Rs.3,084 per gram on 20 and 21 January
Lowest Rate in January	Rs.3,000 per gram on 4 January
Overall Monthly Performance	Incline
Percentage Change	1.19%

January 2018 – Week 1 (1st to 7th):

When the month began in Trichy, the yellow metal was recorded trading at Rs.3,009 per gram on the 1st.
Prices remained unaltered at Rs.3,009 per gram the next day with steady demand from local jewellers, retailers and industries amid positive overseas trends.
Prices rose to Rs.3,014 per gram on the 3rd before plunging to Rs.3,000 per gram on the 4th following the release of the higher anticipated US employment data.
The US job data, however, proved to be weaker than expected and pushed the US dollar lower in the global market. This led to gold rate in Trichy rebounding to Rs.3,015 per gram on the 5th.
With the US dollar index losing a basket of other emerging currencies, gold price in Trichy surged further to Rs.3,021 per gram the following day.
Strong global cues coupled with steady domestic demand resulted in gold prices remaining unchanged at Rs.3,021 per gram for the rest of the week.

January 2018 – Week 2 (8th to 14th):

The second week commenced with the bullion priced at Rs.3,015 per gram on the 8th after a rise in the US dollar value led resulted in a reduced demand for the metal.
Gold rate in Trichy rebounded to Rs.3,021 per gram the next day before plummeting to Rs.3,009 per gram on the 10th with the US regaining lost ground in the world markets.
With the US dollar losing significantly and gold rates hitting record highs over the next few day, demand for the metal surged.
On the 11th, the yellow metal was recorded trading at Rs.3,030 per gram amid the positive overseas trends.
The poorly performing equities coupled with the weakened greenback resulted in gold price in Trichy nearing seven-week highs in the bullion market. The precious metal was priced at Rs.3,045 per gram on the 12th which rose further to Rs.3,048 per gram the following day.
As the week came to an end, an increase in domestic demand from local jewellers, retailers and industries amid strong global cues resulted in gold being priced at Rs.3,068 per gram on the 14th.

January 2018 – Week 3 (15th to 21st):

The week began with the yellow metal trading at Rs.3,071 per gram on the 15th with a slight increase in domestic demand for the metal.
Strong investor sentiments coupled with firm trends overseas led to gold rate in Trichy rising to Rs.3,086 per gram on the 16th.
However, with the greenback regaining lost ground over the next few days, the precious metal was priced at Rs.3,082 per gram on the 17th which further dropped to Rs.3,061 per gram on the 18th.
The 19th witnessed gold price in Trichy rising slightly to Rs.3,064 per gram before surging further to Rs.3,084 per gram on the 20th with investors speculating over a possible US government shutdown.
The week concluded with the bullion prices holding steady at Rs.3,084 per gram after investors hedged on the precious metal against the US government shutdown concerns.

January 2018 – Week 4 (22nd to 28th):

Trading began in Trichy with the yellow metal priced at Rs.3,078 per gram on the 22nd with demand declining against the strengthening dollar and equities.
The 23rd, however, saw gold rate in Trichy rebounding to Rs.3,087 per gram with the US dollar index losing against a basket of other major emerging currencies in the global trade.
Steady domestic demand coupled with strong trends overseas resulted in gold price in Trichy remaining unaltered at Rs.3,087 per gram on the 24th.
With the US greenback touching record low figures and gold closing in on near 16-month highs in the bullion market, prices surged to Rs.3,129 per gram – the highest recorded monthly figure – on the 25th.
The next couple of days saw demand for the metal declining with the US dollar regaining lost ground from the previous streak of losses.
When trading concluded for the week, the precious metal was priced as low as Rs.3,043 per gram on the 28th owing to reduced domestic demand amid the poor global cues.

January 2018 – Week 5 (29th to 31st):

The last week commenced with the yellow metal prices holding at Rs.3,043 per gram on the 29th with steady domestic demand from the previous week.
However, with the US dollar rising against other apex currencies, gold rate in Trichy plunged to Rs.3,030 per gram on the 30th.
With investors and markets mulled over the US Federal Reserve’s two-day monetary policy meeting due next month, the US dollar value declined. This led to gold being priced at Rs.3,045 per gram on the last day.
Gold price in Trichy registered an incline of 1.33% in bullion prices during the course of the month.

Trend of Gold Rate in Trichy for December 2017 (rates per gram for 24 karat gold)

Parameters	Gold price (24 karat)
Gold Rate on 1st December 2017	Rs.2,982 per gram
Gold Rate on 31st December 2017	Rs.3,015 per gram
Highest Rate in December	Rs.3,015 per gram on 30 and 31 December
Lowest Rate in December	Rs.2,903 per gram on 13 December
Overall Monthly PerformanceMa	Incline
Percentage Change	1.10%