Apr 28
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Gold Rate in Nellore
Gold bars and coins are widely sold and bought in Nellore. Gold is highly sought-after given its intrinsic value. Many residents in Nellore invest in Gold coins as a hedge against inflation. In many rural areas, the precious yellow metal is more easily accessible and sought-after compared to bank deposits owing to the former being viewed as a robust investment option.
Physical Gold: There are various jewellery stores in Nellore such as Jain Gold, Shantilal and Sons and Tata Gold Plus among others. Wedding jewellry with intricate designs is much in demand by most consumers in Nellore. Gold rings and various forms of temple jewelry are also much in demand.
Gold Contracts: The MCX (Multi Commodity Exchange) and NSEL (National Spot Exchange)
sell spot and future gold contracts in India. MCX Gold contracts are available in two variants – 1 kg and 100 grams (Gold Mini).
Gold Rate Trend in Nellore for January 2018 to March 2018 (per gram of 24 karat gold)
| Factor | January | February | March |
| 1st day | Rs.3,002 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.3,084 per gram on 20 & 21 January | Rs.3,103 per gram on 14 February | Rs.3,105 per gram on 24 & 25 March |
| Lowest price | Rs.3,001 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 | 1.43% | 0.19% | 0.95% |
Gold Rate Trend in Nellore 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 Nellore for October 2017:
- The price of gold in Nellore was Rs.3,040 per gram on 1 October as demand was steady.
- Demand dropped sharply as gold price in Nellore fell to Rs.2,997 per gram on 6 October following the sudden rise in the dollar rate.
- Local demand was also muted in spite of the festive season due to unfavourable market cues.
- As Diwali approached, there was a gradual increase in gold prices, with the metal trading at Rs.3,059 per gram on 14 October.
- Equities lost ground as the dollar slipped against global currencies, resulting in a rise in the price of gold.
- Demand from local industrial units and jewelers also increased, which led to a spurt in the price of gold.
- A gradual drop in price was recorded towards the end of the month, with gold trading at Rs.3,026 per gram on 20 October and later falling to Rs.3,000 per gram on 26 October.
- Prices continued their downward spiral, as gold ended the month at Rs.2,997 per gram due to poor demand.
Gold Rate Trend In Nellore For November 2017:
- The start of trading in Nellore saw gold priced at Rs.2,998 per gram, as there was minimal movement in price.
- Industrial demand from Asia was muted due to a stable U.S. Dollar, which made imports more expensive.
- Gold price in Nellore dropped to Rs.2,974 per gram on 6 November after a rally by markets led to a further decrease in demand for the precious metal.
- There was a slight gain in the price as local demand picked up, with gold priced at Rs.3,015 per gram on 12 November.
- Gold made gains as political tensions within the United States led to market turbulence, as gold rose to Rs.3,031 per gram on 18 November.
- As the dollar recouped its losses in the last week of November, there was a gradual drop in demand for gold overseas.
- Local demand was steady and kept prices from dropping too sharply, as gold ended the month priced at Rs.2,992 per gram.
Gold Rate Trend In Nellore For December 2017:
- The last month of the year saw a number of fluctuations in the price of gold in Nellore.
- The month opened with the precious metal trading at Rs.2,982 per gram as local demand was high due to poorly performing equity markets.
- Gold price in Nellore dipped to Rs.2,917 per gram on 8 December as the dollar made a sharp upswing after the release of the new U.S. tax policy.
- Markets across the world reacted strongly to the sudden rise in the dollar, with gold prices dropping sharply.
- There was a slight recovery in the price of gold as the month progressed, though this change was minimal.
- As the tax implications of the new policy sunk in, there was panic selling and the dollar value plunge,d leading to a renewed interest in bullion.
- Gold prices in Nellore rose to Rs.2,985 per gram on 28 December.
- There was a further rise in the price of gold as tensions with North Korea led to global panic, sending investors rushing to invest in gold as a safe-haven asset.
- Prices closed at Rs.3,015 per gram on 31 December as gold registered a rise of 1.10% over the course of the month.
