Gold Rate in Tamil Nadu
24K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
24K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
24K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
24K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
22K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
22K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
22K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
22K Gold / 10gm
05th Jan '24
₹69,000.00
-260.00 (0.39%)
India's profound passion for gold and gold jewelry is highlighted by the fact that it ranks as the world's largest importer of gold. This penchant is even more pronounced in the Southern states, particularly Tamil Nadu. According to the 2017 India Gold Report, Tamil Nadu brides typically adorn themselves with about 300 grams of gold for their weddings.
The enthusiasm for purchasing gold in Tamil Nadu notably surges during the Akshaya Tritiya festival. The Tamil Nadu government has introduced special gold schemes, which we will explore comprehensively in this article.If you are contemplating investing in gold at the current gold rate in Tamil Nadu, it's important to understand why gold is considered a sound investment.
Gold is often viewed as a reliable investment option and an effective safeguard against inflation, economic uncertainties, and political turmoil. This is the reason why top financial consultants and advisors often suggest including assets like silver and gold in a diversified investment portfolio.
However, before investing in gold, it’s crucial to acquire a thorough understanding of various related aspects and considerations.
India's profound passion for gold and gold jewelry is highlighted by the fact that it ranks as the world's largest importer of gold. This penchant is even more pronounced in the Southern states, particularly Tamil Nadu. According to the 2017 India Gold Report, Tamil Nadu brides typically adorn themselves with about 300 grams of gold for their weddings.
The enthusiasm for purchasing gold in Tamil Nadu notably surges during the Akshaya Tritiya festival. The Tamil Nadu government has introduced special gold schemes, which we will explore comprehensively in this article.If you are contemplating investing in gold at the current gold rate in Tamil Nadu, it's important to understand why gold is considered a sound investment.
Gold is often viewed as a reliable investment option and an effective safeguard against inflation, economic uncertainties, and political turmoil. This is the reason why top financial consultants and advisors often suggest including assets like silver and gold in a diversified investment portfolio.
However, before investing in gold, it’s crucial to acquire a thorough understanding of various related aspects and considerations.
24K Gold Rates Per Gram in Tamil Nadu
Grams
Today
Yesterday
02 years
₹15,000
₹4.1 Lakhs
05 years
₹15,000
₹12.4 Lakhs
10 years
₹15,000
₹34.9 Lakhs
15 years
₹15,000
₹75.7 Lakhs
22K Gold Rates Per Gram in Tamil Nadu
24K Gold Rates Per Gram in Tamil Nadu
Grams
Today
Yesterday
1 Gram
₹15,000
₹4.1 Lakhs
₹15,000
8 Gram
₹15,000
₹12.4 Lakhs
₹15,000
10 Gram
₹15,000
₹34.9 Lakhs
₹15,000
12 Gram (1 Tola)
₹15,000
₹75.7 Lakhs
₹15,000
22K Gold Rates Per Gram in Tamil Nadu
Grams
Today
Yesterday
1 Gram
₹15,000.00
₹15,000.00
8 Gram
₹15,000
₹15,000.00
10 Gram
₹15,000
₹15,000.00
12 Gram (1 Tola)
₹15,000
₹15,000.00
Factors Affecting Gold Rates in Tamil Nadu
Overview of Factors Affecting Gold Prices in Tamil Nadu
Inflation Rates: Higher inflation often leads to an increase in gold prices as gold retains value better than currency.
Demand for Gold Jewelry: Cultural importance and higher demand for gold jewelry, especially during festivals and weddings, can raise gold prices.
Gold Supply: Limited supply due to reduced mining output or recycling can push gold prices up.
Interest Rate Trends: Lower interest rates make gold more attractive than traditional savings, increasing its demand and price.
US Dollar-Indian Rupee Exchange Rate: A weaker rupee increases the cost of imported gold, raising prices in Tamil Nadu.
Import Duties on Gold: Higher import duties can lead to increased domestic gold prices as importers pass on the costs.
Geopolitical Crises: Global uncertainties make gold a safe-haven asset, increasing its demand and price.
Government Gold Reserves: Government actions in buying or selling gold reserves can directly impact gold supply and prices.
Overview of Factors Affecting Gold Prices in Tamil Nadu
Inflation Rates: Higher inflation often leads to an increase in gold prices as gold retains value better than currency.
Demand for Gold Jewelry: Cultural importance and higher demand for gold jewelry, especially during festivals and weddings, can raise gold prices.
Gold Supply: Limited supply due to reduced mining output or recycling can push gold prices up.
Interest Rate Trends: Lower interest rates make gold more attractive than traditional savings, increasing its demand and price.
US Dollar-Indian Rupee Exchange Rate: A weaker rupee increases the cost of imported gold, raising prices in Tamil Nadu.
Import Duties on Gold: Higher import duties can lead to increased domestic gold prices as importers pass on the costs.
Geopolitical Crises: Global uncertainties make gold a safe-haven asset, increasing its demand and price.
Government Gold Reserves: Government actions in buying or selling gold reserves can directly impact gold supply and prices.
Historical Gold Rates in India for the Last 10 Days
DAY
22K Gold
24K Gold
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
Historical Gold Rates in India for the Last 10 Days
DAY
22K Gold
24K Gold
31 Dec 2023
₹63,305.00
0.00%
₹63,305.00
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305.90
0.00%
₹63,305.00
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
31 Dec 2023
₹63,305
0.00%
₹63,305
0.00%
How is the purity of gold calculated in Tamil Nadu?
In Tamil Nadu, the gold rate and its purity are determined by the standards set by the Indian Bullion Association. Dealers must include a hallmark symbol denoting purity on all gold items.
While the gold price in Tamil Nadu, as in other regions, is impacted by global market trends, India's lack of domestic gold mining means it's less directly affected by market fluctuations.
However, international factors still significantly affect the purchasing power of both gold importers and the general public in India.
In Tamil Nadu, the gold rate and its purity are determined by the standards set by the Indian Bullion Association. Dealers must include a hallmark symbol denoting purity on all gold items.
While the gold price in Tamil Nadu, as in other regions, is impacted by global market trends, India's lack of domestic gold mining means it's less directly affected by market fluctuations.
However, international factors still significantly affect the purchasing power of both gold importers and the general public in India.
Necessary Documentation for Gold Investment in Tamil Nadu
Here's the list of Documents that are required to buy gold.
Physical Gold (coins, bars, jewelry):
No need for a brokerage or Demat account.
Important to keep the purchase invoice and BIS certification for authenticity.
Investments Over Rs. 2 Lakhs:
Mandatory to provide a PAN Card.
Required to have a valid ID with name and address (Voter ID, Passport, or Aadhar Card).
Gold Exchange-Traded Funds (ETFs):
Opening both a brokerage and a Demat account is required through the ETF's offering firm.
Sovereign Gold Bonds (SGBs) and Digital Gold:
Minimal paperwork involved.
No need for a Demat account.
Gold-Related Mutual Funds:
Necessary to set up both a brokerage and a Demat account.
Here's the list of Documents that are required to buy gold.
Physical Gold (coins, bars, jewelry):
No need for a brokerage or Demat account.
Important to keep the purchase invoice and BIS certification for authenticity.
Investments Over Rs. 2 Lakhs:
Mandatory to provide a PAN Card.
Required to have a valid ID with name and address (Voter ID, Passport, or Aadhar Card).
Gold Exchange-Traded Funds (ETFs):
Opening both a brokerage and a Demat account is required through the ETF's offering firm.
Sovereign Gold Bonds (SGBs) and Digital Gold:
Minimal paperwork involved.
No need for a Demat account.
Gold-Related Mutual Funds:
Necessary to set up both a brokerage and a Demat account.
Gold Rates in Top cities
CITY
22K Gold
24K Gold
Delhi
₹65,000
0.00%
₹65,000
0.00%
Kolkata
₹65,000
0.00%
₹65,000
0.00%
Mumbai
₹65,000
0.00%
₹65,000
0.00%
Chennai
₹65,000
0.00%
₹65,000
0.00%
Jaipur
₹65,000
0.00%
₹65,000
0.00%
Key Factors to Consider When Purchasing Gold in Tamil Nadu
When shopping for gold jewelry, keep in mind the following aspects:
BIS Certification and Hallmark:
The Bureau of Indian Standards (BIS) assesses gold purity. The hallmark on the jewelry indicates quality, showing the BIS rating and the company's logo. These are crucial for the future selling of gold.
Understanding Daily Gold Rates:
Gold prices can differ among jewelers due to added margins over the daily rates set by the Indian Bullion and Jewellers Association (IBJA). The gold rate in Tamil Nadu, for instance, changes frequently, mirroring the commodities market's live prices. Before purchasing, always review these rates, along with any alloy or stone charges.
Buy-Back Terms:
The terms for selling back or exchanging your gold are important. Verify if the store offers an exchange based on the weight of the gold or the current rate, and remember to bring your purchase receipt. Be aware that taxes and making charges are typically non-recoverable, so consider selling only when necessary.
When shopping for gold jewelry, keep in mind the following aspects:
BIS Certification and Hallmark:
The Bureau of Indian Standards (BIS) assesses gold purity. The hallmark on the jewelry indicates quality, showing the BIS rating and the company's logo. These are crucial for the future selling of gold.
Understanding Daily Gold Rates:
Gold prices can differ among jewelers due to added margins over the daily rates set by the Indian Bullion and Jewellers Association (IBJA). The gold rate in Tamil Nadu, for instance, changes frequently, mirroring the commodities market's live prices. Before purchasing, always review these rates, along with any alloy or stone charges.
Buy-Back Terms:
The terms for selling back or exchanging your gold are important. Verify if the store offers an exchange based on the weight of the gold or the current rate, and remember to bring your purchase receipt. Be aware that taxes and making charges are typically non-recoverable, so consider selling only when necessary.
FAQs on Gold Rates in Tamil Nadu.
How can I find the live gold rate in Tamil Nadu?
The live gold rate in Tamil Nadu can be accessed through financial websites, mobile apps dedicated to gold prices, and some local news platforms.
What causes the live gold rate in Tamil Nadu to fluctuate?
Fluctuations in the live gold rate are influenced by global market trends, the USD-INR exchange rate, domestic demand for gold, and changes in local market conditions.
Does the gold rate vary within different cities in Tamil Nadu?
Yes, the gold rate can vary slightly between different cities in Tamil Nadu due to factors like local demand, transportation costs, and taxes.
Are the gold rates higher during festivals in Tamil Nadu?
Typically, gold rates in Tamil Nadu may increase during festivals due to higher demand for gold jewelry and ornaments.
How often is the live gold rate updated in Tamil Nadu?
The live gold rate in Tamil Nadu is updated frequently, often multiple times a day, to reflect the latest market conditions.
How can I find the live gold rate in Tamil Nadu?
The live gold rate in Tamil Nadu can be accessed through financial websites, mobile apps dedicated to gold prices, and some local news platforms.
What causes the live gold rate in Tamil Nadu to fluctuate?
Fluctuations in the live gold rate are influenced by global market trends, the USD-INR exchange rate, domestic demand for gold, and changes in local market conditions.
Does the gold rate vary within different cities in Tamil Nadu?
Yes, the gold rate can vary slightly between different cities in Tamil Nadu due to factors like local demand, transportation costs, and taxes.
Are the gold rates higher during festivals in Tamil Nadu?
Typically, gold rates in Tamil Nadu may increase during festivals due to higher demand for gold jewelry and ornaments.
How often is the live gold rate updated in Tamil Nadu?
The live gold rate in Tamil Nadu is updated frequently, often multiple times a day, to reflect the latest market conditions.
Gold Rates in Top cities
City
22k Gold
24k Gold
Delhi
₹15,000.00
₹15,000.00
₹15,000.00
₹15,000.00
Kolkota
₹15,000
₹15,000.00
₹15,000.00
Mumbai
₹15,000
₹15,000.00
Chennai
₹15,000
₹15,000.00
Jaipur
₹15,000
₹15,000.00
Author
Harish Malhi
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