Apr 24
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Gold Rate In Guntur
Guntur is one of the commercial hubs along the east coast of Bay of Bengal in Andhra Pradesh. Guntur is considered a major centre for industry and business. Gold is widely bought in Guntur district in many forms. Gold rates in Guntur depend on rates of the precious metal in India and abroad. Gold is extensively used in the form of temple jewelry as an offering to idols. Gold is also in demand on all auspicious occasions including weddings and festivals.
Gold Rate Trend in Guntur for January 2018 to March 2018 (per gram of 24 karat gold)
| Factor | January | February | March |
| 1st day | Rs.3,005 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.3,086 per gram on 16 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 | 1.33% | 0.19% | 0.95% |
Gold Rate Trend in Guntur for October 2017 to December 2017 (per gram of 24 karat gold)
| Factor | October | November | December |
| 1st day | Rs.3,040 per gram | Rs.2,974 per gram | Rs.2,982 per gram |
| Last day | Rs.2,996 per gram | Rs.2,996 per gram | Rs.3,015 per gram |
| Highest price | Rs.3,059 per gram on 14 and 15 October | Rs.3,030 per gram 18 to 20 November | Rs.3,015 per gram on 30 and 31 December |
| Lowest price | Rs.2,996 per gram on 31 October | Rs.2,974 per gram on 1 and 6 November | Rs.2,906 per gram on 13 December |
| Trend | Decline | Incline | Incline |
| Change | -1.44% | 0.73% | 1.10% |
Gold Rate Trend in Guntur for October 2017:
- The month began with the yellow metal trading at Rs.3,040 per gram on the 1st amid firm trend overseas.
- However, possibilities of an interest rate hike by the US Federal Reserve resulted in the dollar rising against a basket of other currencies. This led to gold rate in Guntur dropping to Rs.2,997 per gram on the 6th.
- Domestic demand from jewellers and retailers surged with the festive season around the corner. This led to prices rising to Rs.3,027 per gram on the 9th.
- Gold rate in Guntur hit their highest recorded monthly figure of Rs.3,059 per gram on the 14th with strong local demand amid the positive global trends.
- On the 20th, with the US dollar recovering from the previous days’ losses, bullion rates plunged to Rs.3,026 per gram.
- The strong US dollar index coupled with firmer equities brought about by speculating on the possible Fed rate hike during the quarter led to gold rate in Guntur closing at Rs.2,996 per gram on the last day. This was also the lowest recorded monthly figure in the city.
- Guntur witnessed gold prices declining by 1.44% amid the poor global cues during the month.
Gold Rate Trend in Guntur for November 2017:
- Trading commenced for the month with the bullion priced at Rs.2,974 per gram on the 1st with declining demand for the metal.
- With the dollar gaining against other apex currencies amid the well-performing equities, the precious metal prices plunged to Rs.2,974 per gram on the 6th.
- The geopolitical crisis in the US and the Korean Peninsula resulted in an increased safe-haven demand around the world. This led to gold rate in Guntur rebounding to Rs.3,015 per gram on the 10th.
- Strong global cues coupled with an increased domestic demand from local jewellers, industries and retailers resulted in gold being priced at Rs.3,030 per gram on the 19th.
- However, with the US tax reform plan being produced in the US Senate by the US President, the dollar regained lost ground. This resulted in the yellow metal prices plunging to Rs.3,009 per gram on the 28th.
- When trading ended for the month, the precious metal was recorded trading at Rs.2,998 per gram amid the poor trends overseas and Guntur recorded an incline of 0.73% in the bullion trade during the course of the month.
Gold Rate Trend in Guntur for December 2017:
- Trading opened in Guntur with the yellow metal prices holding at Rs.2,982 per gram following a decline in demand from jewellers, retailers and industries amid poor global cues.
- The 5th witnessed gold rates plunging to Rs.2,968 per gram after the US dollar rose against the basket of other emerging currencies with the approval of the landmark US tax reform plan.
- The strong dollar performance coupled with gaining equities resulted in prices declining considerably during the month.
- Gold was recorded trading at Rs.2,908 per gram on the 12th before plummeting to a monthly low of Rs.2,906 per gram the next day after investors refrained themselves from making purchases ahead of the Federal Reserve meeting.
- However, the dollar lost its sheen following the Fed rate hike, thus, pushing demand higher for the safe-haven metal. Gold was recorded trading at Rs.2,933 per gram on the 19th.
- With investors gravitating towards safe-haven assets such as the bullion to hedge against the tax system overhaul concerns, gold rate Guntur rose to Rs.2,956 per gram on the 23rd.
- A decline in the Asian stocks following the new tax cuts resulted in the dollar and equities losing in the global markets.
- Strong trends overseas coupled with an increased domestic demand resulted in the bullion being priced at Rs.3,015 per gram on the 31st, and Guntur registered an incline of 1.10% in gold rates during the month of December.
