Apr 16

Gold Rate in Coimbatore

Team Antworks

Coimbatore is the second largest city in the southern state of Tamil Nadu and is one of the fastest growing tier 2 cities in India. It is home to some of the biggest textile and manufacturing industries, which have ensured that the city has a high standard of living. Gold has been the preferred choice of investments among Indians and Coimbatore to has seen a steady increase in gold consumption, regardless of the prevailing gold rates.

Trend of Gold Rate in Coimbatore for April 2018 (rates per gram for 24 karat gold)

April 2018- Week 1 (1st-7th)

Gold prices in Coimbatore were steady at Rs.3,072 per gram as the month began as a low dollar rate led to increased orders from the industrial sector.
Gold rate in Coimbatore rose to Rs.3,091 per gram on 3 April after equity markets fell sharply following the escalation of tensions between the United States and China over trade tariffs.
Local demand was on the decline as jewellers reduced orders amidst a retail slump, but positive international cues led to a slight revival in gold’s fortunes locally.
Positive U.S. non-farm data led to a rally by the dollar, which in turn led to a slight fall in demand for gold as the precious metal fell to Rs.3,066 per gram on 5 April.
The decline in demand continued to impact gold prices as overseas industrial demand slumped, leading to local prices falling to Rs.3,058 per gram on 6 April.
The end of the week saw a marginal increase in price as gold traded at Rs.3,075 per gram on 7 April.

Trend of Gold Rate in Coimbatore for March 2018 (rates per gram for 24 karat gold)

Parameters	Gold price (24 karat)
Gold Rate on 1st March 2018	Rs.3,043 per gram
Gold Rate on 31st March 2018	Rs.3,072 per gram
Highest Rate in March	Rs.3,105 per gram on 24 and 25 March
Lowest Rate in March	Rs.3,030 per gram on 19 March
Overall Monthly Performance	Incline
Percentage Change	0.95%

March 2018 – Week 1 (1 – 5):

The price of gold on 1 March was Rs.3,043 per gram in Coimbatore as demand for the yellow metal was quite steady thanks to local industrial demand.
Prices were on the increase as equity markets were apprehensive of possible austerity measures due to rising inflation in the U.S.
Gold traded at Rs.3,049 per gram on 2 March on the back of strong demand from industry in Asia, with local demand also keeping pace.
Equity markets across the globe tumbled after the news of impending tariffs on imports of aluminum and steel were announced by the U.S. President.
Gold price in Coimbatore rose to Rs.3,068 per gram on 3 March, with the price remaining unchanged for the remainder of the week.

March 2018 – Week 2 (5-11):

Gold was seen trading at Rs.3,064 per gram when the second week of March began in Coimbatore.
Despite the uncertainties amid trade war remained, a strong dollar pushed gold rates down in the global market and the metal traded at Rs.3,054 per gram on the 6th of March.
The 7th saw gold rates go up to Rs.3,074 per gram as the dollar could no longer withstand the pressure and markets fell.
On the 8th, gold traded at Rs.3,061 per gram before falling to Rs.3,047 per gram as investor sentiments were low.
The 10th saw prices rise to Rs.3,067 per gram as domestic demand surged amid some poor wage gains in the US.
When the week ended, gold was still seen trading at Rs.3,067 per gram, thanks to a stable demand.

March 2018 – Week 3 (12 – 18):

The week began with the precious metal trading at Rs.3,057 per gram on the 12th after a stronger than expected US employment data resulted in the US dollar and equities strengthening.
Prices dropped to Rs.3,047 per gram on the 13th with markets cautious ahead of US Federal Reserve monetary policy meeting next week.
The 14th, however, saw gold rates rising to Rs.3,062 per gram as the dollar weakened after the US Secretary of State was suddenly dismissed by the US President.
The US greenback rose against a basket of currencies with investors and markets speculating on a possible Fed rate hike by the Federal Reserve. This led to gold prices dropping to Rs.3,056 per gram on the 15th.
Gold rate in Coimbatore plunged further to Rs.3,037 per gram on the 16th with domestic demand declining amid the poor trends overseas.
The 17th saw gold prices rising marginally to Rs.3,040 per gram following an increase in demand from local jewellers and retailers.
The week came to an end with bullion prices holding steady at Rs.3,040 per gram on the 18th with steady demand amid positive global trends.

March 2018 – Week 4 (19 – 25):

The week opened with gold priced at Rs.3,030 per gram on 19 March in Coimbatore on steady demand from industry as well as the retail market.
As the U.S. Dollar lost value due to political uncertainty as well as a looming trade war, demand for gold rose across the world, which kept prices high.
Gold price in Coimbatore jumped to Rs.3,046 per gram on 20 March as markets were apprehensive ahead of the Fed meeting.
With the Fed taking a less hawkish outlook, markets were disappointed and plunged, which led to greater demand for bullion.
Gold soared to Rs.3,081 per gram on 23 March and continued to rise over the rest of the trading week as local demand was buoyed by positive international trends.
Gold price in Coimbatore reached Rs.3,105 per gram on 24 March as renewed geopolitical tensions in the U.S. led to markets falling steeply.
The week ended with no change in the price of gold, as steady demand and positive markets cues kept prices at Rs.3,105 per gram on 25 March.

March 2018 – Week 5 (26 – 31):

The week opened in Coimbatore with bullion prices holding at Rs.3,095 per gram on the 26th with prices going down after the US dollar rose amid the US-China trade war concerns diminishing.
However, the next day saw gold rates climbing to Rs.3,098 per gram with the dollar weakening against other major currencies as the US-Russian diplomatic relations deteriorated.
The US dollar index regained lost ground over the next few days amid the well-performing equity markets. This led to gold being priced at Rs.3,084 per gram and Rs.3,067 per gram on the 28th and the 29th.
With the greenback holding its gains from the previous session, gold prices in Coimbatore plunged slightly to Rs.3,066 per gram on the 30th.
Thanks to an increase in domestic demand from local jeweller, retailers and industries amid positive global cues, the bullion prices rose to Rs.3,072 per gram on the last day.
Coimbatore recorded an incline of 0.95% in gold rates during the course of the month.

February 2018 – Week 1 (1st – 4th)

On the 1st, gold was recorded trading at Rs.3,040 per gram in Coimbatore. The decline in prices was mainly due to the US Federal Reserve decision to leave its interest rates unchanged in the meeting that pushed the dollar ahead from the previous month.
Gold price in Coimbatore surged to Rs.3,071 per gram the next day with an increase in demand by local jewellers, retailers and industries as the US dollar rates continued to remain unchanged ahead of the US jobs data release.
With the US employment data implying an increase in jobs and payrolls during the year, the dollar rates spiked ahead. This led to gold rate in Coimbatore dropping to Rs.3,050 per gram on the 3rd.
Steady domestic demand coupled with firm overseas trends led to the bullion being priced at Rs.3,050 per gram for the rest of the week.

February 2018 – Week 2 (5th -11th)

Gold started trading at Rs.3,035 per gram when the second week of February began in Coimbatore.
This rose to Rs.3,071 per gram – by Rs.36 – as a massive equity sell-off worldwide spurred safe-haven demand.
However, the sharp demand from previous day dropped and gold prices in Hyderabad went down to Rs.3,031 per gram. This was because the US dollar bounced back against a basket of other currencies.
The 8th saw gold price in Coimbatore fall again – this time to Rs.3,003 per gram – as demand took a hit as the dollar continued on its resurgent path.
With domestic demand rising, particularly from jewellers, gold rate in Coimbatore went up to Rs.3,018 per gram on the 9th.
Demand increased on the 10th and the metal traded at Rs.3,023 per gram on the 10th of February. This continued on till the closing hours of the week as demand remained steady.

February 2018 – Week 3 (12th – 18th)

The week opened in Coimbatore with the precious metal prices at Rs.3,025 per gram on the 12th with the US dollar holding back ahead of the US inflation data release.
Gold rate in Coimbatore surged to Rs.3,030 per gram on the 13th with markets awaiting the inflation data for clues on the pace of interest rates hike during the year.
On the 14th, the bullion was recorded trading at Rs.3,103 per gram with the dollar losing against other apex currencies in the global market ahead of the US inflation data later during the day.
The data, however, proved to be on par with the expectations showing an incline in the US consumer prices. This led to gold price in Coimbatore plunging to Rs.3,071 per gram on the 15th.
Rates surged to Rs.3,074 per gram the next day before rising further to Rs.3,096 per gram on the 17th with an increase in demand for the bullion by investors to sidestep the inflation concerns.
The week ended with gold prices holding at Rs.3,096 per gram on the 18th following steady domestic demand industries, jewellers and retailers amid positive overseas trends.

February 2018 – Week 4 (19th – 25th)

Gold opened at Rs.3,083 per gram in Tamil Nadu’s second most popular city – Coimbatore. This rate dropped to Rs.3,068 per gram the next day as a rising US dollar put a break to the yellow metal’s gains.
As the continued to register further gains, gold price in Coimbatore dropped to Rs.3,057 per on the 21st of February.
The yellow metal’s rates fell for the third consecutive day and a Rs.4 decline was recorded on the 22nd, bringing gold prices effectively down to Rs.3,054 per gram.
With the local demand being boosted by a number of key factors, gold rate in Coimbatore went up to Rs.3,060 per gram on the 23rd of the moth.
As domestic demand remained strong amid a well-performing dollar, gold rates in Coimbatore surged to Rs.3,067 per gram on the 24th of February.
The fourth week of February ended with gold trading at Rs.3,067 per gram.

February 2018 – Week 5 (26th – 28th)

When trading commenced in Coimbatore, the precious metal was recorded trading at Rs.3,069 per gram on the 26th amid firm trends overseas.
Gold rate in Coimbatore remained untouched at Rs.3,069 per gram the following day ahead of the US Federal Reserve Chairman’s first congressional testimony.
With the US dollar strengthening after Jerome Powell, the Fed Chair promised to improve the country’s economy by sticking to the Fed rate hike plans, gold prices in Coimbatore plunged to Rs.3,046 per gram on the 28th.
Gold rates rose by 0.19% in the city during the course of the month.

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

Parameters	Gold price (24 karat)
Gold Rate on 1st January 2018	Rs.3,002 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.3,001 per gram on 4 January
Overall Monthly Performance	Incline
Percentage Change	1.43%

January 2018 – Week 1 (1st – 7th)

On the 1st of January, gold price in Coimbatore were recorded at Rs.3,002 per gram
The 2nd of January saw gold rates rise to Rs.3,011 per gram as a result of the international market witnessing sharp inclines.
As the US dollar weakened, demand for gold increased. This pushed gold rate in Coimbatore up to Rs.3,014 per gram on the 3rd of January.
However, gold rates dropped to Rs.3,001 per gram on the 4th. Reports said that “today’s gold rate” declined due to the latest job data release
But, as the data turned out to be more negative than expected, gold rates surged back to Rs.3,013 per gram on the 5th day of the week.
With demand continuing to remain high amid increased demand, gold rates surged again to Rs.3,021 per gram on the 6th of the month.
Gold was still trading at Rs.3,021 per gram when the week came to an end.

January 2018 – Week 2 (8th – 14th)

The bullion trade in Coimbatore opened with gold priced relatively lower at Rs.3,009 per gram on the 8th with a slight decline in local demand from the previous week.
A weakened dollar compounded with an unevenly performing equities market led to gold price in Coimbatore surging throughout the week.
Gold was recorded trading at Rs.3,017 per gram on the 9th before rising further to Rs.3,022 per gram on the 10th amid the positive trends overseas.
The bullion prices, on the 12th, continued to rise against the poorly performing equities and the precious metal was trading at Rs.3,048 per gram.
Strong global cues coupled with an improved domestic demand led to gold rate in Coimbatore hitting a seven-week high of Rs.3,068 per gram on the 13th.
Steady demand from local jewellers, industries and retailers amid the positive overseas trends led to gold being priced at Rs.3,068 per gram when the week concluded.

January 2018 – Week 3 (15th – 21st)

Gold opened at Rs.3,073 per gram in Coimbatore when the third week of January began.
An increased demand from local circles led to a rise in gold price in Coimbatore and the metal traded at Rs.3,082 per gram on the second day of this week.
The 17th saw gold prices decline to Rs.3,079 per gram as the US dollar regained some lost ground against a host of other apex currencies.
On the 18th, gold prices dropped again to Rs.3,060 as US Treasury yields increased.
The 19th, however, saw gold rate in Coimbatore rise to Rs.3,076 per gram as the US government was head towards a shutdown, causing gold demand to increase.
Gold rates were recorded at Rs.3,084 per gram on the 20th which continued till the closing hours of the week.

January 2018 – Week 4 (22nd – 28th)

In Coimbatore, gold rates increased significantly towards the midweek, following the record trend witnessed in the global market.
On the 22nd of the month, gold was priced at Rs.3,022 per gram.
The 23rd saw gold open at Rs.3,030 per gram and close at Rs.3,026 per gram as demand remained mostly on the flatter side.
Significant increases in gold price in Coimbatore were witnessed from the 24th onwards, as the US dollar hit new lows while gold hit 16-month high figures.
On the 25th, the yellow metal opened at Rs.3,072 per gram as demand from jewellers in and around the city surged.
Due to a slowdown in demand, gold rate in Coimbatore dropped when the week neared its end.
During the last day of this week, i.e., the 28th gold was seen trading at Rs.3,068 per gram.

January 2018 – Week 5 (29th – 31st)

The bullion trade opened in Coimbatore with gold priced relatively lower at Rs.3,043 per gram on the 29th with the US dollar regaining lost ground from the previous week’s losses.
On the 30th, gold price in Coimbatore plunged to Rs.3,030 per gram with the US dollar gaining further amid the strengthened equities and positive US treasury yields.
When trading concluded for the month, the yellow metal was recorded trading at Rs.3,045 per gram on the 31st with a downtrend in the US dollar rates ahead of the Federal Reserve’s two-day meeting on monetary policies.
Coimbatore recorded an incline of 1.43% in gold trade due to the poor US dollar performance that pushed prices higher during the course of the month.