May 4
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Gold Rate in Kakinada
Kakinada is a city located in the state of Andhra Pradesh, India. It is also the 4th most populous city of Andhra Pradesh. Kakinada is very close to the second largest mangrove forest in India and also the Coringa Wildlife Sanctuary. The economy in Kakinada revolves mainly around the textile industry, fishing, agricultural and steel related supplementary units.
c 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 Kakinada 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 Kakinada 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 Kakinada 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 the gold price in Kakinada rising to Rs.3,027 per gram on the 9th.
- Gold rates 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 Kakinada closing at Rs.2,996 per gram on the last day. This was also the lowest recorded monthly figure in the city.
- Kakinada witnessed gold prices declining by 1.44% amid the poor global cues during the month.
Gold Rate Trend in Kakinada for November 2017:
- The month opened with the precious metal priced at Rs.2,974 per gram on the 1st with relatively lower demand for the metal from the previous week.
- The next few days saw gold rates remaining unchanged with the US dollar performing well amid stronger equities. Gold price in Kakinada were recorded holding at Rs.2,974 per gram until the 6th of November.
- With the US-North Korean diplomatic relations worsening, safe-haven demand for the metal surged during the month. The yellow metal was priced at Rs.3,015 per gram amid strong demand.
- Thanks to an increased demand from local jewellers, retailers and industries amid the strong trends overseas, god rate in Kakinada surged to Rs.3,030 per gram on the 19th.
- However, prices plunged to Rs.3,009 per gram on the 28th after the promising US tax reform plan produced by President Trump at the US Senate resulted in the US dollar gaining against a basket of other emerging currencies.
- The month concluded with the precious metal prices holding at Rs.2,998 per gram due to reduced domestic demand for the metal amid poor trends overseas.
- Gold rates saw an incline of 0.73% during the course of the month.
Gold Rate Trend in Kakinada for December 2017:
- The final month of the quarter began with the bullion trading at Rs.2,982 per gram amid poor trends overseas.
- Prices plummeted to Rs.2,968 per gram on the 5th with the dollar gaining after the approval of the US tax reform bill.
- The strong US dollar index coupled with firmer equities market resulted in gold rate in Kakinada dropping significantly over the next few days.
- The yellow metal was priced at Rs.2,908 per gram on the 12th before hitting the lowest recorded monthly figure of Rs.2,906 per gram on the 13th ahead of the Federal Reserve’s monetary policy meeting.
- However, with Fed rate hike proved to have a negative impact on the equities and pushed the US dollar lower. This led to gold rates rebounding to Rs.2,933 per gram on the 19th.
- Gold price in Kakinada surged to Rs.2,956 per gram on the 23rd after the dollar lost against other apex currencies with investors mulled over the ultimate result of the tax system overhaul on the US economic growth.
- With the Asian stocks failing in the world markets, demand for safe-haven assets such as gold surged. This led to bullion rates surging to Rs.3,015 per gram on the last day.
- Kakinada registered an incline of 1.10% in bullion trade during the course of the month.
