Gold Rate in Coimbatore Today

  • Today's Gold Rate in Coimbatore ( 01 Jun 2020 )

    ₹ 4,510
    Today's Gold Rate (22K) per gram

    Compare 22K & 24K Gold Rate In Coimbatore (Today & Yesterday)

    Today
    Yesterday
    Rate Change
    Standard Gold (22 K) ( 1 gram ) ₹ 4,510 ₹ 4,621 ₹ -111 ↓
    Standard Gold (22 K) ( 8 grams ) ₹ 36,080 ₹ 36,968 ₹ -888 ↓
    Pure Gold (24 K) ( 1 gram ) ₹ 4,917 ₹ 4,712 ₹ 205 ↑
    Pure Gold (24 K) ( 8 grams ) ₹ 39,336 ₹ 37,696 ₹ 1,640 ↑

    Daily Gold Rates

    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    01 Jun 2020 ₹ 4,510 ₹ 36,080 ₹ 4,917 ₹ 39,336
    31 May 2020 ₹ 4,621 ₹ 36,968 ₹ 4,712 ₹ 37,696
    30 May 2020 ₹ 4,603 ₹ 36,824 ₹ 4,694 ₹ 37,552
    29 May 2020 ₹ 4,564 ₹ 36,512 ₹ 4,641 ₹ 37,128
    28 May 2020 ₹ 4,566 ₹ 36,528 ₹ 4,643 ₹ 37,144
    27 May 2020 ₹ 4,647 ₹ 37,176 ₹ 4,720 ₹ 37,760
    26 May 2020 ₹ 4,647 ₹ 37,176 ₹ 4,720 ₹ 37,760
    25 May 2020 ₹ 4,641 ₹ 37,128 ₹ 4,723 ₹ 37,784
    24 May 2020 ₹ 4,529 ₹ 36,232 ₹ 4,900 ₹ 39,200
    23 May 2020 ₹ 4,488 ₹ 35,904 ₹ 4,869 ₹ 38,952

    Weekly & Monthly Graph of Gold Rate in Coimbatore

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    *Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.

    Gold Price in Coimbatore

    Coimbatore is the second largest city in the southern state of Tamil Nadu and is one of the fastest growing tier 2 cities in India. It is home to some of the biggest textile and manufacturing industries, which have ensured that the city has a high standard of living. Gold has been the preferred choice of investments among Indians and Coimbatore too has seen a steady increase in gold consumption, regardless of the prevailing gold rates.

    Gold rates in Coimbatore depend on market fluctuations and availability. Gold buyers can choose from 22 karat or 24 karat gold, depending on their needs and budget. 22 karat gold is about 92% and the gold rate for this is less than 24 karat gold, which is 99.99% pure.

    Trend of Gold Rate in Coimbatore for May 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    May 1 Rate Rs.4,670 per gram
    May 23 Rate Rs.4,869 per gram
    Highest Rate in May Rs.4,905 per gram on 21 May
    Lowest Rate in May Rs.4,621 per gram from 2 May
    Overall Performance Incline

    May 2020 - Week 1 (1 - 9):

    • Gold opened the month of May at Rs.4,670 per gram in Coimbatore. There was a drop of Rs.50 for every gram of the gold when compared to the closing price of the previous week. The rate of the gold dropped further on 2nd May which saw the metal record its lowest price for the month to date with a gram costing Rs.4,621.
    • The price of the gold climbed in the city following that as tensions between the United States of America and China escalated over the matter of the origin of coronavirus pandemic. The tensions sent investors seeking safe havens as fears of a new trade war between the nations increased.
    • The gold closed the first week on May at Rs.4,700 per gram in Coimbatore. This was the highest recorded price of the metal for the month to date. The overall performance witnessed an inclining trend in the rates over the opening week of the month.

    May 2020 - Week 2 (10-16):

    • In Coimbatore, the price of the metal on 10 May was Rs.4,701 per gram opening the week at a marginal incline compared to previous week’s closing price. On 11 May, the price of gold increased to Rs.4,702 per gram. The rise in prices was majorly due to investors shifting to the bullion market amidst lower risk appetite and fears of the second wave of COVID-19 cases all over the world. On 12 May, the price of the metal increased further to Rs.4,731 per gram with major central banks providing more stimulus packages, thus boosting the price of the metal.
    • On 13 May, the price of gold had increased by Rs.9 to Rs.4,740 per gram and further increased marginally to Rs.4,741 per gram on 14 May. With tensions between the United States of America due to the trade deal, the focus on bullion was higher amongst investors.
    • With investors shifting away from riskier assets and the equities market, the price of the metal increased to Rs.4,776 per gram on 15 May. Trade tensions increased between the two economic superpowers and the yellow metal hit its highest price of the week and the month at Rs.4,788 per gram on 16 May and closed the week.

    May 2020 - Week 3 (17 - 23):

    • In Coimbatore, the yellow metal was priced at Rs.4,854 per gram at the start of the third week of May. Compared to the closing price of the previous week, there was an increase of Rs.66 in the rates of the precious metal.
    • The rates of the yellow metal increased gradually in the city over the next few days due to worries because of souring trade relations between the U.S. and China and bleak U.S. economic data. The highest price for the month till date was recorded on 21st May when a gram of the 24-karat gold cost Rs.4,905 in the city.
    • As equities gained on the hope of a quick recovery from the coronavirus-induced economic slump, the rates of gold slipped. Gold recorded a fall of Rs.37 per gram and was priced at Rs.4,868 on 22nd May. The yellow metal closed the week in Coimbatore at Rs.4,869 per gram with the overall performance witnessing an inclining trend.

    Trend of Gold Rate in Coimbatore for April 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    April 1 Rate Rs.4,150 per gram
    April 30 Rate Rs.4,720 per gram
    Highest Rate in April Rs.4,720 per gram on 30 April
    Lowest Rate in April Rs.4,150 per gram from 1 - 5 April
    Overall Performance Incline

    April 2020 - Week 1 (1 - 4):

    • In the city of Coimbatore, the precious metal opened the week at Rs.4,150 per gram and was the same throughout the week as physical buying and selling of the metal was highly limited due to the lockdown in the country.
    • Gold prices saw major changes in the previous month, hitting lows due to traders hoarding for cash and selling assets with the lockdown in the United States of America. The price of the metal had recovered marginally as investors waited for the job data in the country. With a rising dollar value, gold prices had been trailing low.
    • As the job data in the United States of America was revealed as poor, investors shifted to the bullion market due to its safe-haven appeal. The metal’s prices increased in the global markets. However, in the city of Coimbatore, gold closed the week at Rs.4,150 per gram on 4 April.

    April 2020 - Week 2 (5 -11):

    • Gold prices in Coimbatore stood at Rs.4,150 per gram at the start of the second week of April. Compared to the closing price of the precious week, there was no change in the rates.
    • The rates increased in the city after staying constant for a day. Gold was priced at Rs.4,417 on 8th April after the rates increased as investors awaited the release of the U.S. Federal Reserve's policy meeting minutes.
    • The yellow metal recorded its highest price for the month till date in the city on 11th April with the U.S. Federal Reserve announcing a massive stimulus in order to combat the economic toll of the pandemic.

    April 2020 - Week 3 (12 - 18):

    • The rate of gold in Coimbatore was Rs.4,150 per gram on 1 April and showed an inclining trend in the third week of the month. Opening at Rs.4,407 per gram on 12 April, the price of the metal increased marginally to Rs.4,411 per gram on 13 April with gold prices falling on profit-booking, however, the fears of recession amongst investors limited the metal’s losses.
    • On 14 April, the price of the metal increased marginally to Rs.4,451 per gram as fears of the virus led to a possible idea of recession in the economy which resulted in traders shifting to the bullion market. Gold prices on 15 April increased to Rs.4,566 per gram and further to Rs.4,577 per gram on 16 April.
    • With fears of recession and economic growth from investors, the metal’s price hit its highest in the month and week at Rs.4,598 per gram on 17 April. However, with President Trump announcing measures to reopen the economy in the country, risk appetite amongst investors increased and caused a fall in the price of the metal. On 18 April, the metal closed the weel at Rs.4,430 per gram.

    April 2020 - Week 4 (19 - 25):

    • Gold opened the fourth week of April at Rs.4,421 per gram in Coimbatore. The rates were down by Rs.9 for every gram when compared to the previous week’s closing price. Gold prices witnessed an incline in the prices over the week.
    • In Coimbatore, the rates of the precious metal slipped after recording a minimal increase on 20th April. Gold prices declined as investors made a dash for cash following a historic rout in U.S. crude prices. As of 22nd April, a gram of the yellow metal cost Rs.4,411 in the city.
    • With hopes being pinged for more fiscal and monetary stimulus measures amid massive economic damage due to business shutdown orders around the world to contain the spread of Covid – 19, gold prices increased in the city. The precious metal closed the penultimate week of the month at Rs.4,582 per gram with the overall performance showing an incline in the rates.

    April 2020 - Week 5 (26 - 30):

    • In the city of Coimbatore, the price of gold opened at Rs.4,593 per gram on 26 April and increased to Rs.4,700 per gram on 27 April recording a high incline in prices within one day. The precious metal in the week recorded an overall incline in its prices. The price of the yellow metal recorded fluctuating trends in the international markets due to various global factors with the crisis of COVID-19 affecting the economy.
    • Investors, on 28 April, took to profit booking with the high price of the metal. Due to this, gold prices reduced marginally. On the day, a gram of gold was priced at Rs.4,691 per gram and recovered to be priced at Rs.4,701 per gram on 29 April. With central banks offering solutions which included various stimulus packages to help the economy recover, the price of the metal recovered.
    • On the last day of the month, gold closed at Rs.4,720 per gram recording the highest price of the week and the month. At the end of the month, the precious metal recorded an overall incline in its prices.

    Trend of Gold Rate in Coimbatore for March 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    March 1 Rate Rs.4,185 per gram
    March 31 Rate Rs.4,150 per gram
    Highest Rate in March Rs.4,443 per gram on 6 March
    Lowest Rate in March Rs.4,026 per gram on 19 March
    Overall Performance Decline

    March 2020 - Week 1 (01 - 07):

    • In Coimbatore, gold prices opened the first week of March at Rs.4,185 per gram and closed the week at an overall incline. The rise in prices was majorly due to investors shifting to the bullion market due to its safe-haven appeal. Gold was priced at Rs.4,185 per gram on 1 March and increased to Rs.4,198 per gram on 2 March. Gold prices increased by 1% with investors shifting to the bullion market along with expecting a rate cut by the Federal Reserve to combat the effect of the virus on the economy.
    • Increasing to Rs.4,215 per gram on 3 March, gold prices showed an inclining trend for the rest of the week closing to hit its 7-year high. With the United States Federal Reserve cutting down the interest rates, gold prices saw a major surge in its prices with traders investing in the bullion. The gold prices further increased substantially to Rs.4,361 per gram on 4 March. This was the metal’s biggest percentage gain since 2016. However, gold prices eased on 5 March at Rs.4,343 per gram.
    • The dip in prices of the gold on 5 March was due to the interest rate cuts by the Federal Reserve which saw a rise in the value of the United States dollar in the market along with a slight increase in risk appetite amongst investors. On 6 March the gold rate increased by more than Rs.100 to Rs.4,443 per gram with the increasing number of new cases of Coronavirus and the rise in the death toll. At the end of the week, the price of the gold dipped marginally and closed at Rs.4,417 per gram on 7 March.

    March 2020 - Week 2 (8 - 14):

    • In Coimbatore, gold prices stood at Rs.4,417 per gram at the start of the second week of March. Compared to the previous week’s closing price, there was no change in the rates of the precious metal.
    • Gold prices slipped to Rs.4,408 per gram the next day as investors sold the bullion to cover margin calls amid plummeting equity and energy markets, overshadowing the yellow metal's safe-haven demand. However, the rates of the precious metal increased on March 10 as hopes for global stimulus measures to shield the economic impact due to the outbreak of coronavirus lifted riskier assets and the dollar.
    • With traders selling the yellow metal to cover margins for stock markets spooked by the spread of coronavirus globally and world health officials declaring the virus as a pandemic, the rates slipped considerably in the city. Gold closed the week at Rs.4,131 per gram with the overall performance showing a decline in the rates of the yellow metal. The closing price of the precious metal in Coimbatore was the lowest for the month of March till date.

    March 2020 - Week 3 (15 - 21):

    • The gold rate in Coimbatore was priced at Rs.4,131 per gram on 15 March and increased to Rs.4,160 per gram on 16 March. The marginal rise in prices was due to the United States Federal Reserve announcing rate cuts on an emergency basis to stabilise the economy. The price of the gold, however, suffered losses on the next day with traders selling their assets, including gold in exchange for cash and to be ready for a lockdown. The gold price on 17 March had dipped to Rs.4,064 per gram.
    • The gold price on 18 March had increased to Rs.4,136 per gram with the effect of the rate cut on the economy which resulted in the surge in the gold prices. However, on 19 March, the price of the gold hit its lowest in the month and week till date at Rs.4,026 per gram even though the European Central Bank had announced measures that will be taken to combat the virus on an economical level. However, with people panicking and selling assets rapidly, gold prices took a hit.
    • On 20 March, the price of the gold stabilised in the international markets increasing by almost Rs.100 to be priced at Rs.4,104 per gram with minimal safe-haven demand. However, at the end of the week, gold prices increased on safe-haven appeal and closed at Rs.4,164 per gram with an overall decline in prices.

    March 2020 - Week 4 (22 - 31):

    • In Coimbatore, gold opened the fourth week of March at Rs.4,164 per gram. There was no change in the rates when compared to the closing price of the previous week.
    • The rates of gold in Coimbatore witnessed a declining trend over the week. Having opened the rates at Rs.4,164 per gram, the rates of the 24-karat slipped to Rs.4,159 per gram the next as investors stockpiled cash, with a rising numbers of coronavirus-led national lockdowns threatening to overshadow stimulus measures from global central banks to combat the pandemic’s economic damage.
    • Gold prices slipped again by Rs.9 per gram on 24 March before remaining stagnant till the end of the week as a 21-day lockdown was imposed in the country to contain the spread of coronavirus. Gold closed the week in Coimbatore at Rs.4,150 per gram with the overall performance showing a decline in the rates.

    Trend of Gold Rate in Coimbatore for February 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    1st February Rate Rs.4,077 per gram
    29th February Rate Rs.4,185 per gram
    Highest Rate in February Rs.4,305 per gram on 24 February
    Lowest Rate in February Rs.4,030 per gram on 6 February
    Overall Performance Incline

    February 2020 - Week 1 (1 - 9):

    • In Coimbatore, the price of the metal opened at Rs.4,077 per gram and was steady until 5 February. The price of the metal marginally fell to Rs.4,071 per gram. In the first half of the week, gold prices held steady due to a positive economic data in the United States of America and China taking adequate measures to face the virus and its effect on the economy.
    • In the second half of the week, due to reports of a vaccine being created to fight the virus, investors shifted to the stock market with an increased risk appetite. The price of the metal had dipped to Rs.4,040 per gram on 5 February and decreased to hit its lowest price on 6 February at Rs.4,030 per gram.
    • However, with the virus not backing down, affecting a greater number of people and increasing the death toll, investor fears renewed and shifted back to the bullion due to its safe-haven appeal. The price of the metal at the end of the week was Rs.4,093 per gram with an overall incline in prices.

    February 2020 - Week 2 (10 - 16):

    • In Coimbatore, a gram of the yellow metal cost Rs.4,079 at the start of the second week of February. Compared to the previous week’s closing price, the rates dropped by Rs.14 for every gram.
    • The rates slipped by Rs.22 for every gram in the next couple of days as investors’ risk appetite increased following reports that there was a decline in the number of new confirmed coronavirus cases. The drop in the prices saw a gram of the 24-karat gold being retailed for Rs.4,057 in the city.
    • Gold prices in Coimbatore picked up in the latter half of the week and closed at Rs.4,120 per gram. The increase in the prices was accounted to renewed fears over a global economic impact given an increase in the number of new coronavirus cases in China. The overall performance showed an incline in the prices.

    February 2020 - Week 3 (17 - 23):

    • The precious metal opened the third week of the month at Rs.4,107 per gram on 17 February and increased marginally to Rs.4,109 per gram on 19 February. The metal showcased increasing trends in prices throughout the week. However, this marginal increase in its prices was due to China liquidating funds to support its falling economy.
    • On 19 February, the price of the metal increased to Rs.4,151 per gram with fears of the Coronavirus increasing by the day. With a greater number of cases and deaths being reported outside the country, investors shifted back to the bullion market due to increasing safe-haven appeal. On 20 February, gold prices were at Rs.4,179 per gram in the city.
    • With a steady local demand in the country and in the city due to the wedding season going on, gold prices saw an incline yet again on 21 February, crossing the Rs.4,200 per gram mark at Rs.4,213 per gram. With increased investor demand and the value of the dollar faltering in the market, the price of the metal increased to Rs.4,276 per gram on 22 February and closed the month at the same price.

    February 2020 - Week 4 (24 to 29):

    • The precious metal opened the fourth week of the month at Rs.4,305 per gram. Compared to the previous week’s closing price, there was an increase of Rs.29 for every gram in the city.
    • Gold prices dipped to Rs.4,264 per gram in Coimbatore by 26 February. The drop in the prices was accounted to investors seeking refuge in safe-haven assets following a warning by the United States of an inevitable pandemic due to the increasing number of coronavirus cases across the world.
    • Over the next day, the rates increased as investors booked profits after the prices climbed more than 1% earlier in the session given the increasing worries about how the outbreak of coronavirus might hurt the global economy.
    • Gold closed the week at Rs.4,185 per gram in the city with the overall performance showing an inclining trend in the prices.

    Trend of Gold Rate in Coimbatore for January 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    January 1 Rate Rs.3,922 per gram
    January 31 Rate Rs.4,074 per gram
    Highest Rate in January Rs.4,125 per gram on 8 January
    Lowest Rate in January Rs.3,919 per gram on 2 January
    Overall Performance Decline

    January 2019 - Week 1 (01 - 05):

    • Gold rates in Coimbatore saw a positive trend in the month of January. Opening the month at Rs.3,922 per gram, the metal’s prices increased throughout the week based on a weak dollar and other factors.
    • On 3 January, the price of the metal increased to Rs.3,983 per gram after decreasing marginally to Rs.3,919 per gram on 2 January. The rise in prices was majorly due to the falling value of the dollar in the global markets. Due to this, investors shifted to the bullion, thus increasing demand.
    • As the tensions between Iran and the United States of America escalated, the price of the gold increased further to be priced at Rs.4,024 per gram on 4 January. With President Trump’s remarks on the drone strike, traders relied on the bullion as a safe haven asset.

    January 2019 - Week 2(06 - 12):

    • Gold prices in Coimbatore saw a fluctuating trend in the second week of January. Opening at Rs.4,091 per gram, the metal’s prices fluctuated due to geopolitical factors revolving around the United States of America and Iran.
    • After dipping to Rs.4,035 per gram on 7 January gold prices hit the highest price in the week at Rs.4,125 per gram on 8 January. The sudden surge in prices was majorly due to investors awaiting further developments surrounding the tension between Iran and the United States of America.
    • However, as United States President Donald Trump refused to retaliate, the value of bullion dipped. Investors shifted to the stock market amidst a boost in the dollar value along with increased risk appetite. The metal closed the week at a lowered price of Rs.4,011 per gram.

    January 2019 - Week 3(13 - 19):

    • Gold prices in Coimbatore saw a fluctuating trend in the third week of January. Opening at Rs.3,991 per gram, the metal’s prices fluctuated due to geopolitical factors along with the signing of the trade deal between the United States of America and China.
    • After dipping to Rs.3,952 per gram on 14 January, the price of gold recovered and was Rs.3,991 per gram on 15 January. Investors shifted to the stock market once the trade deal was signed and risk appetite was at a high. On 17 January, the price of the metal increased to Rs.3,999 per gram as traders shifted back to the bullion due to speculations about the unresolved issues in the trade deal.
    • However, with the geopolitical tensions escalating in the Middle East with a drone and military strike in Yemen, investors stuck to the bullion for their investments due to high safe haven appeal. At the end of the week, the price of the metal closed at Rs.4,019 per gram.

    January 2020 - Week 4 (20 - 26):

    • Gold started the fourth week of January at Rs.4,011 per gram in Coimbatore. Compared to the previous week’s closing price, the rates of the yellow metal declined by Rs.8 per gram in the city.
    • The rates climbed to Rs.4,028 per gram on 21 January as investors turned to gold as a safe-haven metal given the concerns with the outbreak of coronavirus in China and escalating tensions in the Middle East.
    • Gold prices dipped the next day as investors assessed the risk of the deadly virus turning into a global epidemic. The yellow metal was retailed for Rs.3,997 per gram on 22 January. Over the remaining days of the week, the prices increased gradually and closed at Rs.4,055 per gram with the overall performance showing that the rates were trending upwards.

    January 2020 - Week 5 (27 - 31):

    • Gold prices in Coimbatore showed an inclining trend in the fifth week of the month due to Coronavirus fears globally. Investors shifted to the bullion due to its safe-haven appeal, thus increasing demand and prices.
    • The price of the metal opened at Rs.4,070 per gram on 27 January and dipped marginally to Rs.4,066 per gram on 28 January. Gold prices hit its weekly low on 29 January at Rs.4,030 per gram due to increased speculations about the Union Budget, thus muting demand. Positive manufacturing data from China also helped the stock market get back on steady terms.
    • However, the yellow metal recovered soon after and closed the month and the week at Rs.4,074 per gram. The sudden rise in prices was due to the World Health Organisation declaring the Coronavirus to be a Global Health Emergency.

    Trend of Gold Rate in Coimbatore for December 2019 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    December 1 Rate Rs.3,828 per gram
    December 29 Rate Rs.3,803 per gram
    Highest Rate in December Rs.3,830 per gram on 5 December
    Lowest Rate in December Rs.3,771 per gram on 11 and 13 December
    Overall Performance Decline

    December 2019 - Week 1 (1 – 8):

    • Gold prices in Coimbatore opened the final week of November at Rs.3,806 per gram. The rates of the yellow metal saw a lot of fluctuations due to concerns regarding the trade deal between US and China, ongoing protests in Hong Kong etc.
    • With traders awaiting further developments regarding the trade deal, the rates of the precious metal dropped to its lowest for the month of November on 28 November when every gram of gold cost Rs.3,792.
    • With neither Washington nor Beijing providing any clear signs of there being a trade deal the rates of gold closed the week at Rs.3,828 per gram in Coimbatore and was trending downwards.

    December 2019 - Week 2 (9 - 15):

    • In Coimbatore, gold prices witnessed a declining trend over the second week of December. The rates opened at Rs.3,780 per gram. The rates witnessed a drop of Rs.13 per gram from the previous week’s closing price.
    • With investors awaiting clarity on whether a next round of US tariffs on Chinese imports would take effect, the rates slipped to its lowest recorded price for the month on December 11 with every gram costing Rs.3,771.
    • The prices picked up towards the end of the week as the safe-haven appeal of gold was boosted due to political tensions in the world’s largest economy. Gold closed the week in Coimbatore at Rs.3,803 per gram.

    December 2019 - Week 3 (16 - 22):

    • In Coimbatore, gold prices witnessed a declining trend over the second week of December. The rates opened at Rs.3,796 per gram. There was a marginal drop in prices when compared to the closing price of the previous week due to various global factors including trade deal uncertainty.
    • With the trade deal uncertainty, the prices of the metal increased to Rs.3,814 per gram and fluctuated through the rest of the week. On 19 December, the price of the metal decreased marginally due to positive U.S. jobs data.
    • The week ended with the metal priced at Rs.3,817 per gram with an overall decline due to the impeachment of the president of the United States, Donald Trump. The investors shifted to the bullion from the stock market, resulting in the increase in prices.

    December 2019 - Week 4 (23 - 29):

    • In Coimbatore, gold prices witnessed a declining trend over the second week of December. The rates opened at Rs.3,796 per gram. There was a marginal drop in prices when compared to the closing price of the previous week due to various global factors including trade deal uncertainty.
    • With the trade deal uncertainty, the prices of the metal increased to Rs.3,814 per gram and fluctuated through the rest of the week. On 19 December, the price of the metal decreased marginally due to positive U.S. jobs data.
    • The week ended with the metal priced at Rs.3,817 per gram with an overall decline due to the impeachment of the president of the United States, Donald Trump. The investors shifted to the bullion from the stock market, resulting in the increase in prices.

    Trend of Gold Rate in Coimbatore for November 2019 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    November 1 Rate Rs.3,892 per gram
    November 30 Rate Rs.3,828 per gram
    Highest Rate in November Rs.3,892 per gram on 1 November
    Lowest Rate in November Rs.3,792 per gram on 28 November
    Overall Performance Decline

    November - Week 1 (01-03):

    • The price of gold on 1 November in Bangalore was Rs.3,892 per gram. Gold prices increased marginally due to the interest rate cut by the United States Federal Reserve and renewed uncertainties in the trade talks between the United States of America and China.
    • However, investors shifted focus to the markets, decreasing the price of gold marginally to Rs.3,890 per gram on 2 November.
    • A strong job data in China and increased applications for unemployment benefit in the United States of America took away the risk appetite considerably from the investors.

    November - Week 2 (04-08):

    • Gold in Coimbatore opened the month at Rs.3,780 per gram and decreased due to positive cues in the trade talks between China and the United States of America. On 4 November, the price of the metal was Rs.3,886 per gram.
    • On 6 November, the price of the metal hit Rs.3,840 per gram as the risk appetite of investors increased due to a strong dollar and positive stock market trends as both China and the United States of America agreed on tariff rollbacks.
    • After increasing marginally on 7 November to Rs.3,860 per gram, the price of the precious metal nearly hit its monthly low at Rs.3,817 per gram as investors shifted to the stock market leaving a dent on the bullion demand in global markets.

    November - Week 3 (09-17):

    • Gold prices opened at Rs.3,812 per gram in Coimbatore. There was a decline of Rs.5 per gram in the prices of the precious metal when compared to the previous day’s closing price.
    • The prices saw a fluctuating trend in Coimbatore over the week due to positive developments in the trade talks between Washington and Beijing and an upbeat risk appetite from investors.
    • The rates touched a 3-month low on 12 November when every gram of the yellow metal cost Rs.3,803 in the city.
    • Gold closed the third week of November at Rs.3,827 per gram after recovering slightly as investors shifted to the bullion as a safe-haven asset due to no clear sign of the trade deal between the United States and China.

    November - Week 4 (18 - 24):

    • Due to trade tensions amongst investors, the safe-haven appeal increased, resulting in an increase in prices of gold in Coimbatore. Opening the fourth week of the month at Rs.3,818 per gram, gold prices increased to Rs.3,841 per gram due to the impeachment inquiry on President Trump.
    • On 20 November and 21 November, gold prices held steady as investors awaited developments on the trade talks. Between President Trump threatening to increase prices on Chinese imports and China inviting U.S. officials to their country to continue the talks, investors shifted between the market and bullion, resulting in fluctuating prices.
    • However, at the end of the week, gold prices dipped due to positive U.S. jobs data and positive hopes on the trade deal. This increased the value of the dollar and the precious metal closed the week at Rs.3,821 per gram.

    November - Week 5 (25 – 30):

    • Gold prices in Coimbatore opened the final week of November at Rs.3,806 per gram. The rates of the yellow metal saw a lot of fluctuations due to concerns regarding the trade deal between US and China, ongoing protests in Hong Kong etc.
    • With traders awaiting further developments regarding the trade deal, the rates of the precious metal dropped to its lowest for the month of November on 28 November when every gram of gold cost Rs.3,792.
    • With neither Washington nor Beijing providing any clear signs of there being a trade deal the rates of gold closed the week at Rs.3,828 per gram in Coimbatore and was trending downwards.

    Trend of Gold Rate in Coimbatore for October 2019 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    Rate on 1st October Rs.3,722 per gram
    Rate on 31st October Rs.3,857 per gram
    Highest Rate in October Rs.3,869 per gram on 28 October
    Lowest Rate in October Rs.3,722 per gram on 1 October
    Overall Performance Incline

    October 2019- Week 1 (1-6):

    • Gold price in Coimbatore opened relatively static at Rs.3,722 per gram due to poor retail demand but rose steadily during the week on rising jeweller orders and overseas cues.
    • Gold rate in Coimbatore rose to Rs.3,818 per gram on 3 October as local markets fell steeply echoing international cues, with investors switching to equities as a hedge against equity uncertainty.
    • Interest in bullion continued to rise, with the yellow metal trading at Rs.3,830 per gram on 6 October as retail and industrial demand shot up.

    October 2019- Week 2 (7-13):

    • The price of gold in Coimbatore opened the month of October at a stagnant price of Rs.3,722 per gram. Gold prices increased in 9 and 10 October to hit it weekly high at Rs.3,848 per gram due to increased local demand and positive trends in global markets.
    • Along with local demand, various global factors added to the bullion’s safe-haven appeal as tensions between the United States of America and China rose before the talks along with tensions regarding Brexit.
    • However, gold rate in Coimbatore slipped to Rs.3,826 per gram on 13 October closing the week at a relatively lower price as the stock markets showed positive signs due to global cues.

    October 2019- Week 3 (14-20):

    • Gold prices in Coimbatore opened at Rs.3,822 per gram marginally decreasing from the closing price of last week as the trade talks between the United States and China made progress, which gave rise to positive market trends and decreased risk appetite.
    • However, hitting the weekly high on 15 October at Rs.3,856 per gram, gold prices remained steady as the trade talks between the two economic superpowers faded resulting in investors depending on the bullion.
    • The price of gold kept fluctuating soon after hitting the weekly high due to global growth concerns from investors along with Great Britain signing a new deal with the European Union on Brexit. On 20 October, gold closed the week at Rs.3,849 per gram.

    October 2019- Week 4 (21-27):

    • The price of gold in Coimbatore opened the week at Rs.3,845 per gram and decreased on 27 October to Rs.3,829 per gram due to renewed optimism from the investors on the trade talks between the United States of America and China, increasing risk appetite.
    • However, on 23 October, gold prices surged marginally to be priced at Rs.3,846 per gram and increased marginally to Rs.3,847 per gram on 24 October, holding steady ahead of the meeting on Brexit.
    • On 26 October, the price of gold increased to Rs.3,871 per gram as weak economic data from the United States of America hinted yet another rate cut from the United States Federal Reserve, resulting in investors shifting to gold and silver as a safe haven. On 27 October, gold closed at Rs.3,872 per gram.

    October 2019- Week 5 (28-31):

    • In Coimbatore, the price of gold on 28 October was Rs.3,869 per gram and dipped to Rs.3,836 per gram on 29 October as trade talks showed positive signs for investors, shifting them from the bullion to the market. Due to this, the value of the dollar increased.
    • On 30 October, hopes of trade talks faded which led to a slight increase in gold prices to Rs.3,847 per gram. As the United States Federal Reserve strongly hinted at a rate cut to be implemented soon.
    • After a rate cut of 1% was announced, the value of the U.S. dollar decreased in the market, showing positive trends for gold, closing the week and the month at Rs.3,857 per gram on 31 October.

    Trend of Gold Rate in Coimbatore for September 2019 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    September 1 Rate Rs.3,481 per gram
    September 30 Rate Rs.3,876 per gram
    Highest Rate in September Rs.3,913 per gram on 29 September
    Lowest Rate in September Rs.3,481 per gram on 1 September
    Overall Performance Incline
    Percentage Change 11.34%

    September 2019- Week 1 (1-8):

    • Opening marginally higher at Rs.3,876 per gram gold rate in Coimbatore rose on increased overseas interest and higher jeweller demand.
    • Gold price in Coimbatore rose to Rs.3,953 per gram on 4 September as disappointing U.S. data dented the dollar and equity markets, though local demand remained steady.
    • Indications of Sino-U.S. trade talks bolstered risk sentiment and reduced bullion demand as the precious metal traded lower at Rs.3,855 per gram when the week ended on 8 September.

    September 2019- Week 2 (9-15):

    • Interest in bullion was on the decline, with gold price in Coimbatore falling steadily during the week after opening lower at Rs.3,842 per gram.
    • Rising investor confidence in equities coupled with a recovering dollar rate dented bullion demand, as gold rate in Coimbatore dropped to Rs.3,799 per gram on 12 September.
    • A thaw in U.S.-China trade relations boosted equity markets as gold lost its sheen for investors, with the metal sliding to Rs.3,763 per gram when the week ended on 15 September.

    September 2019- Week 3 (16-22):

    • Interest in bullion was on the decline, with gold rate in Coimbatore falling steadily during the week after opening lower at Rs.3,807 per gram.
    • Rising investor confidence in equities coupled with a recovering dollar rate dented bullion demand, as gold price in Coimbatore dropped to Rs.3,799 per gram on 18 September.
    • A thaw in U.S.-China trade relations boosted equity markets as gold lost its sheen for investors, with the metal sliding to Rs.3,794 per gram when the week ended on 22 September.

    September 2019- Week 4 (23-30):

    • Gold price in Coimbatore opened at Rs.3,904 per gram on steady overseas offtake and rising demand from local jewellers, though a weak rupee dented retail demand as prices fell to Rs.3,876 per gram on 28 September.
    • Increased U.S. tariffs on Chinese goods led to equities falling as investors increased their bullion offtake, pushing gold prices higher to Rs.3,913 per gram on 29 September.
    • Conflicting cues and recessionary fears kept demand steady but prices dropped to Rs.3,876 per gram on 30 September as the metal recorded a 11.34% rise in value during the month.

    Also Check Petrol Price and Diesel Price in Coimbatore

    Gold has been considered a safe investment as it negate any rise in inflation. One can choose to invest in any of the following gold options in Coimbatore.

    • Jewelry – The love for jewelry among Indians is well known and jewelry constitutes the major portion of gold investments in Coimbatore. Jewelry can be sold or exchanged for good rates, making it an investment for all seasons.

    • Gold Bullion Bars – Gold bullion bars are an ideal investment option for those who can afford them. These bars can weigh up to 1 kg each and are highly desired across the world. With 99.5% purity these bars can be perfect for those who wish to invest in a commodity which has no risk.

    • Gold Bullion Coins – Gold coins are today considered the safest and smartest investment in gold. People in Coimbatore prefer buying gold coins rather than jewelry as there is no wastage or making charge involved with gold coins. They are easy to liquidate and can offer instant money when the need arises.

    • Gold Accumulation Plan – This new investment method revolves around people depositing small amounts of money into an account on a monthly basis. After a specified period the investor can choose from gold bars/coins or jewelry, as per the needs.

    • Allocated Gold Accounts – This plan is perfect for those who wish to own gold but do not want to keep it with them. Investing in gold account ensures that banks keep the gold safe and secure and the owner can access the gold when need be.

    Coimbatore is home to most of the well-established gold dealers and jewellers, some of the major ones being Malabar Gold, Kalyan Jewellers, Josco Jewellers, Karpagam Jewellers and Joyalukkas. Residents can also find smaller gold dealers across the city, with each one catering to specific needs.

    Also Check Gold Price in NearBy Cities of Coimbatore

    Read more on Gold

    Gold Rate - Sitemap

    News About Gold Rate in Coimbatore

    • Prices of gold in India fall after increasing for four days in a row

      Gold prices in India decreased on 27 April 2020 after increasing for four consecutive days. Gold futures prices for the month of June on MCX decreased by 0.22% and is at Rs.46,425 for 20 grams.

      Over the last three sessions, the prices of the yellow metal increased by Rs.1,300 for 10 grams. Earlier in April, gold rates hit record highs and were at Rs.47,327 for 10 grams. However, since then the prices of gold have remained volatile. In the international markets, gold prices reduced because of firm equity markets. The prices of spot gold fell by 0.3% and are at $1,722.49 for an ounce. Investors are looking towards gold as there are fears of a global recession due to the coronavirus outbreak. Gold is considered a safe haven at a time of currency debasement and inflation. Gold prices in India have increased by nearly 40% in the last year. The prices of the yellow metal in India are inclusive of 12.5% import duty and 3% GST.

      27 April 2020

    • Gold prices increase slightly on 23 March 2020 but still down by Rs.4,000 in two weeks

      Due to the fall of the rupee against the dollar, the prices of gold increased slightly in India on 23 March 2020. Gold futures prices for the month of April on MCX increased by 0.8% and is at Rs.40,684 for 10 grams.

      Gold prices in India have reduced sharply since hitting record highs of Rs.45,000 for 10 grams. The prices of gold in the international markets have reduced as well after hitting record highs. Even though the prices of gold increased slightly, gold rates have reduced by Rs.4,000 over the last two weeks in India. Gold rates in India are inclusive of 3% GST and 12.5% import duty. In the international markets, gold prices reduced recently. Spot gold prices in the international markets reduced by 0.7% and are at $1,487 for an ounce. On 20 March 2020, the prices of gold had increased by around 3%. Shares in the Asian market fell today due to fears of a recession. Most countries have opted for a lockdown due to the coronavirus outbreak. The prices of gold were also affected because of the surge in the value of the dollar against major currencies. The death toll due to coronavirus has reached 14,000 globally and more than 300,000 people are infected.

      23 March 2020

    • Gold rate shoot up as coronavirus cases increase

      Amidst rising fear of the Coronavirus, the gold futures had gained by 0.07% to Rs.43,770 per 10 grams. On Monday, gold had been trading at Rs.45,063 per 10 grams in Delhi. This had been driven by the economic slowdown. Spot gold had risen by 0.4% at $1,656.37 per ounce and then dipped 2% on Tuesday. The U.S. gold futures dropped by 0.2% to $1,656.7.

      When it comes to the white metal, silver had increase to Rs.46,470 per kg. On Monday, silver prices had skid to Rs.47,359 per kg.

      11 March 2020

    • Gold prices remain steady at Rs.40,865 per 10 grams; silver prices see a surge in pricing

      The price of gold showed an inclining trend for the fourth consecutive day on 17 February 2020, increasing by Rs.85. The price of the precious metal increased to Rs.40,865 per 10 grams in the bullion market in Mumbai.

      The rise in prices was majorly due to the effect of the Coronavirus on the global economy. Gold prices would have seen a higher rise but was halted due to a stronger value of the U.S. dollar. The metal’s prices will be further dependent on the developments on the decision by the United States Federal Reserve and the minutes of the Central Bank of Europe which will be released this week.

      In Mumbai, 22-karat gold was priced at Rs.37,432 per 10 grams excluding a GST of 3%. 24-karat gold, on the other hand, was priced at Rs.40,865 per 10 grams plus 3% GST. 10 grams of 18-karat gold was Rs.30,649 plus 3% GST in the retail market.

      According to Vice President of Motilal Oswal, Navneet Damani, the price of the metal was hovering near its two-week high due to the impact of the virus on the global economy. The increase in the number of cases resulted in the escalated fears of the virus in Singapore along with China.

      19 February 2020

    • Rates of the yellow metal slip for the second consecutive day

      Tracking a decline in the global prices, the rates of gold slipped in the country for the second successive day. The rates of the yellow metal fell by 0.3% on the Multi Commodity Exchange (MCX) to cost Rs.39,780 for every 10 grams. In global markets, spot gold rates dipped by 0.4% to cost $1,551.13 per ounce. It must be noted here that though investors remained worried about the threat of the new flu-like coronavirus, most Asian markets were higher today.

      As per SMC global, there could be an impact on economic growth as investors assess the risk of a global epidemic from a coronavirus outbreak from China. The brokerage house feel that gold prices in the country can drop towards Rs.39,600 while silver prices can test Rs.45,800.

      It needs to be mentioned here that rates of the white metal had also fallen on Wednesday with every kilogram costing Rs.45,987 in the MCX. In the global market, silver rates fell to $17.73 per ounce after slipping by 0.2%.

      22 January 2020

    • Gold prices little changed ahead of FED policy statement

      Gold remained little unchanged after investors showed caution ahead of FED economic policy statement and the December 15 deadline for U.S implementing tariffs on Chinese goods.

      Spot gold fell 0.1% to $1,463.20 per ounce. U.S. gold futures dropped 0.1% at $1,467.40.

      Federal Reserve, the Central Bank of U.S.A will issue the economic policy statement later in the day.

      Though it is expected that FED will remain the interest rate unchanged, the investors will be eager to hear the outlook for the economy which has impacted due to U.S - China trade war.

      The palladium rose 0.2% to $1,899.67 an ounce, having surged past the key level of $1,900 an ounce for the first time on Tuesday.

      Silver fell 0.3% to $16.60 per ounce.

      11 December 2019

    • Prices of gold increase for the third continuous day

      In India, the price of gold increased for the third day in a row. Gold futures prices for December increased by 0.14% and hit Rs.38,150 for 10 grams. In India, gold prices have increased from around Rs.37,500 for 10 grams.

      However, even after the recent gains, prices of gold have decreased by around Rs.1,850 for 10 grams after reaching record highs in September. In the international market, prices of spot gold increased slightly and hit $1,464.31 for an ounce. Gold prices were supported because of the uncertainty of the trade deal between China and the US. According to a note made by Kotak Securities, prices of gold increased after a three-week dip because of the uncertainty of the trade deal between the US and China. The US President warned that the tariffs would increase if there is no agreement in the trade deal. Investors are also waiting for any progress in the trade deal. According to Kotak Securities, gold has recovered because of the trade uncertainty and disappointing economic data. However, the rates could be steady because of the strong US dollar.

      15 November 2019

    • Price of gold increases by Rs.19 due to increased festive demand

      Gold prices rose by Rs.19 to be priced at Rs.38,450 per 10 grams in Mumbai a day before the festival of Dhanteras. The increase in prices was majorly due to an increase in festive demand for the precious metal.

      The rate of 22-karat gold in Mumbai was Rs.35,220 per 10 grams added with 3% GST, while 24-karat gold was priced at Rs.38,450 per 10 grams plus GST. The 18-karat gold was priced at Rs.28,838 per 10 grams plus GST. On the other hand, silver prices remained the same at Rs.45,535 per kg as of 23 October 2019.

      Gold, in the futures market, touched the intraday high of Rs.38,115 per 10 grams and a low of Rs.37,999 per 10 grams on the Multi Commodity Exchange. For the December series, the precious metal hit a low of Rs.32,289 per 10 grams and a high of Rs.40,771 per 10 grams.

      Gold futures for the December delivery increased by Rs.97 to be priced at Rs.38,100 per gram for a business turnover of 17,749 lots. There was an increase with gold contracts for February delivery as well by 0.24% or Rs.93 to be priced at Rs.38,340 per 10 grams for a turnover of 3,741 lots.

      In the global market, gold traded at a marginally higher price of $1,497.30 an ounce, up by $1.75 in London trading.

      25 October 2019

    • Gold Prices Edge Higher Ahead of Sino-U.S. Trade Talks

      Gold prices edged up in early trading ahead of the Sino-U.S. trade talks scheduled for later this week. Spot gold inched up by 0.1% to $1,505.38 per ounce, while U.S. gold futures dropped by 0.1% to $1,511 per ounce.

      The latest round of trade talks between the United States and China will be held on 10 and 11 October, with markets watching closely for impacts on global trade and economic growth.

      Future trade negotiations seem a distant prospect, and China has doubled down on its demands which could limit progress at the negotiating table.

      Uncertainty over the outcome has boosted demand for safe-haven assets like bullion, though there has been sluggish growth in retail demand across Asia.

      Weak economic data and slow job growth in the U.S. has once again raised fears of recession and dented equity markets globally.

      7 October 2019

    • Price of gold and silver increase in domestic markets due to increased demand

      In New Delhi, the price of 24 karat gold increased by Rs.330 to Rs.39,020 per 10 grams in spot markets according to the HDFC Securities. Along with gold, silver had also seen a rise in prices by Rs.730 to Rs.48,720 per kg.

      However, in the futures market, the price of gold was trading flat. On the Multi Commodity Exchange, gold futures prices for October was Rs.37,879 per 10 grams resulting in a decline of 0.12%. Silver futures on MCX was down by 0.18% to Rs.48,025 per kg.

      Price of the yellow metal held steady in global markets at $1,521 per ounce due to speculation of an economic slowdown and tensions in the Middle East. SPDR Gold Trust mentioned that their holdings increased to 908.52 tonnes, increasing by 1.61%.

      In India, the demand for the precious metal was flat due to the Shradh period. However, jewellers seem positive for the demand to pick up by the end of the month, ahead of the festive season.

      24 September 2019

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