Gold Rate In Proddatur
The rates of gold in Proddatur vary depending upon the purity of the precious metal. The most expensive form of gold is 24 karat and is, therefore, the most expensive option. 22 karat, 18 karats and 14 karat gold are relatively impure in comparison with 24 karat gold and are hence cheaper in comparison.
24 karat gold – Since the purity of 24 karat gold stands at 99.9%, it is considered a great investment option for the people of Proddatur. Due to the fact that 99.9% pure gold isn’t ideal for the production of ornaments and jewelry, it is not as popular among a large section of the town. The price of one gram of 24 karat gold is Rs.2,993 as of 9th March, 2016. This price reflects international trends over the past year as prices declined in the second half of 2015 before picking up in 2016. Further fluctuations in prices are expected in the coming months.
22 karat gold – 22 karat gold is not as pure as 24 karat gold, with about 92% of the metal considered pure. However, investment in 22 karat gold in Proddatur is significantly higher than that in 24 karat gold as this form of the precious metal is ideal for the production of ornaments and jewellery. The price of 22 karat gold in Proddatur as on 9th March, 2016 is Rs.2.797.
Gold Rate Trend in Proddatur 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 Proddatur 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 Proddatur For December 2017:
- The last month began with gold priced at Rs.2,982 per gram due to a decline in interest in gold.
- There was a further dip in price with the metal trading at Rs.2,917 per gram on 8 December as the U.S. Dollar rose, resulting in a drop in demand for gold especially among Asian nations.
- A strong dollar index was further bolstered by the tax reform law that was passed that week, which led to local demand also dropping.
- Prices fell to Rs.2,903 per gram on 13 December as gold fell to its lowest monthly rate, as the possibility of increased rate hikes in 2018 was speculated.
- Markets were cautiously optimistic over the appointment of a new Fed Reserve chief and unfavourable news from Europe led to equities falling.
- Gold prices began to rise gradually, with the precious metal trading at Rs.2,956 per gram on 23 December.
- Holiday shopping failed to stimulate the markets, which resulted in investors turning to bullion to hedge bad equity debts.
- Gold price in Proddatur continued to rise for the rest of the month, trading at Rs.3,015 per gram on 31 December to register an increase of 1.10% over the course of the month.
