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Gold Price in CoimbatoreWhy to Buy Gold on Dhanteras
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 October 2016 (rates per gram for 24karat gold)
October '16 - Week 1 (1st to 7th)
- Gold traded at Rs.3,152 per gram on 1st October.
- The trend for this week was a decline in prices as the global market turned bearish on account of rising expectations of a Fed rate hike.
- Gold traded at Rs.3,027 per gram on 7th October as demand in the domestic market also fell.
- A gloomy global market and stricter Indian tax laws led to a drastic fall in gold rates.
Trend of Gold Rate in Coimbatore for September 2016 (rates per gram for 24karat gold)
|1st September rate||Rs.3,120 per gram|
|30th September rate||Rs.3,176 per gram|
|Highest rate in September||Rs.3,197 per gram on 8th September|
|Lowest rate in September||Rs.3,120 per gram on 1st September|
September '16 - Week 1 and 2 (1st to 10th)
- Gold traded at Rs.3,120 per gram on 1st September.
- There were fluctuations through the week as the possibility of a U.S. Fed rate hike was unclear.
- Gold reached its highest on 8th September trading at Rs.3,197 per gram and closed the week at Rs.3,181 per gram on 10th September.
September '16 - Week 3 (11th to 17th)
- Gold rates plunged this week on account of rising expectations of a Fed rate hike this month.
- The U.S. economy has released a spate of weak economic data, but officials are upbeat that the economy is strong enough to handle the hike.
- Gold traded at Rs.3,181 per gram on 11th September.
- Demand in the domestic market dropped as well with investors, retailers, jewellers and consumers being reluctant to buy gold.
- By the end of the week, gold had shed 1.11% or Rs.35 and traded at Rs.3,146 per gram.
September '16 - Week 4 (18th to 24th)
- Gold prices surged this week as domestic demand was strong on account of the festive season.
- Gold traded at Rs.3,146 per gram on 18th September.
- Prices climbed as the trend in the global market turned bullish as the pressure of a Fed rate hike eased up.
- Gold rose to Rs.3,193 per gram on 24th September.
September '16 - Week 5 (25th to 30th)
- Gold traded at Rs.3,193 per gram on 25 the September.
- Prices gradually dropped owing to gloomy global trends and downturn in the domestic market.
- By the end of the week, gold was seen trading at Rs.3,176 per gram.
- As the dollar gains, prices are expected to drop further.
|1st July rate||Rs.3,201 per gram|
|31st July rate||Rs.3,142 per gram|
|Highest rate in July||Rs.3,229 per gram on 3rd August|
|Lowest rate in July||Rs.3,148 per gram on 8th August|
August '16 - Week 1 (1st to 7th)
- Gold prices increased marginally as the week progressed with the prices reaching their peak mid-week.
- The low Dollar and sluggish markets contributed to heightened gold demand, with domestic demand also increasing.
- The release of NFP data showing high growth led to markets rising and gold demand falling significantly.
- The strengthening Dollar led to reduced demand from overseas markets, leading to a fall in prices.
August '16 - Week 2 (8th-14th)
- Gold traded at Rs.3,148 on 8th August and was on a path of inclination through the week.
- Slow U.S. economic growth resulted in the dollar slipping.
- Gold saw an increase in the domestic spot market which sent gold rates up to Rs.3,198 per gram on 10th August.
- By the end of the week, gold traded at Rs.3,181 due to a weaker global market.
August '16 - Week 3 (15th-21st)
- Gold gained strength this week as domestic demand is on the rise.
- Gold traded at Rs.3,181 per gram on 15th August and climbed to Rs.3,203 per gram on 19th August, the highest for the week.
- Playing off on global cues, prices fluctuated a bit as U.S. policymakers announced that the U.S. economy is strong enough to introduce a hike in the Federal Reserve interest rates this year.
- Gold settled at Rs.3,200 per gram by the end of the week.
August '16 - Week 4 (22nd-28th)
- On account of a stronger dollar, gold rates dropped this week.
- By midweek, there was a slight increase in gold rates as jewellers increased their intake in preparation for the upcoming festive season.
- Gold traded at Rs.3,184 per gram on 22nd August and fell to Rs.3,164 per gram on 27th August.
August '16 - Week 5 (29th-31st)
- Gold continued to drop as the U.S. economy released strong job data.
- Gold traded at Rs.3,156 per gram and dropped to Rs.3,142 per gram by 31st August.
- The Federal Reserve is confident of a rate hike this year and might be much needed to avoid other risks to the economy.
- The demand from jewellers in the domestic market has been sluggish on account of global cues.
|1st July rate||Rs. 3,129.50 per gram|
|31st July rate||Rs. 3,214 per gram|
|Highest rate in July||Rs. 3,214 per gram on July 30 and 31|
|Lowest rate in July||Rs. 3,118.50 per gram on July 25|
July'16 - Week 1 and 2 (1st to 10th)
- Gold rates showed an overall increase with a few fluctuations through the week.
- Gold prices were at Rs.3,128.50 on July 1st which was followed by rises and falls.
- International trends in the market made gold a more appealing investment as a safe haven option, which sent prices to its highest on 6th July when gold traded at Rs.2,183.
- Prices fluctuated further and closed the week at Rs.3,162.50.
July'16 - Week 3 (11th to 17th)
- Gold prices fluctuated as demand dropped towards the middle of the week, only to stabilise as the week ended.
- Prices were recorded at Rs.3,155 per gram on the first day of the week and Rs.3,146 on the last day of the week.
- Prices were stable at the start of the week but fell sharply towards the middle due to reduction in demand, however gold recovered by the end of the week.
July '16 - Week 4 (18th to 24th)
- Prices fluctuated throughout the week in Coimbatore.
- Gold reached its highest for the week on 19th July trading at Rs.3,148.50 per gram.
- Global trends have weakened the market leading to a rocky stance for gold.
- A strong dollar backed by strong U.S. non-farming payroll data has sent gold prices sliding downward.
- The week ended at Rs.3,130 marking a fall of Rs. 18.50 per gram.
July‘16 - Week 5 (25th to 31st)
- Rate of gold was recorded at Rs.3,118.50 on the 25th of July.
- Fluctuations over the next four days saw prices settle at Rs.3,168 on the 29th as minor gains were subsequently written off by losses on alternate days.
- Prices rose to Rs.3,214 on the 30th of July and closed the month at the same rate.
|1st June rate||Rs.2,934|
|30th June rate||Rs.3,105|
|Highest rate in June||Rs.3,180 on 27th June|
|Lowest rate in June||Rs.2,916 on 3rd June|
Jun'16 - Week 1 (1st to 5th)
- Prices dipped at the beginning of the month owing to a two-day fall at the domestic bullion market but this was overcome after there was a renewed off take from jewellery retailers and traders.
- The rates managed to climb back up owing to the state of affairs in the U.S.
- Prices rose on 5th June due to a weaker dollar resulting from a disappointing job report from the U.S. Labor Department.
Jun'16 - Week 2 (6th to 12th)
- Gold traded at Rs. 2,968 for the first two days of the week.
- Gold witnessed a surge as prices hiked up by Rs.15 to Rs. 2,983 on the 8th of June.
- Gold further witnessed an incline as prices shot up to Rs. 3,093 on the 11th and 12th of June.
Jun'16 - Week 3 (13th to 19th)
- Gold opened the week at Rs. 3,064 per gram on the 13th of June.
- The prices rose further as the week progressed as gold hit its highest for the month on the 16th of June at Rs. 3,122 per gram.
- Gold ended the week at Rs. 3,087 per gram on the 19th of June.
Jun'16 - Week 4 (20th to 26th)
- Thanks to steady demand from traders and jewellers, the rate of gold saw a steady increase during the month of June especially towards the final weeks.
- The rate of gold was relatively steady during the week between the 20th and 26th of June, with only very minor fluctuations.
- On the first day of the week, gold opened at Rs. 3,076 per gram and closed at Rs. 3,165 on the 26th.
- The highest rate of gold observed during this period was on the on the last two days of the week at Rs. 3,165 per gram whereas the lowest was on the 23rd with Rs. 3,023 per gram being the rate of gold.
Jun'16 - Week 5 (27th to 30th)
- Gold rates recorded a decline over the last four days of June.
- Prices were recorded at Rs.3,180 on the 27th of June and Rs.3,105 on the 30th of June.
- The overall decline in prices between the 27th and 30th of June was Rs.75.
|1st May rate||Rs. 3,069 per gram|
|31st May rate||Rs. 2,914 per gram|
|Highest rate in May||Rs. 3,076 per gram on May 2|
|Lowest rate in May||Rs. 2,914 per gram on May 31|
May'16 - Week 1 (1st to 7th)
- Gold rates remained stable for most part of the week, with slight increases and decreases mid-way through the week.
- Prices were recorded at Rs.3,069 on the 1st of May and Rs.3,050 on the 7th of May.
- There were no major international events that influenced a major change in prices as they remained somewhat constant throughout the week.
May ‘16 - Week 2 (8th to 14th)
- Gold rates fluctuated every single day of the week, with slight increases and decreases forming the order of the day.
- Prices were recorded at Rs.3,073 on the 8th of May and Rs.3,051 on the 14th of May.
- There were no major international events that influenced a major change in prices as their levels between the start and end of the week did not vary to a significant extent.
May ‘16 - Week 3 (15th to 21st)
- Gold rates fluctuated slightly during the third week of May as prices moved up and down on certain days of trading.
- Prices were recorded at Rs.3,051 on the 15th of May and Rs.3,015 on the 21st of May.
- Despite remaining constant for the first two days in trading, prices fell marginally on the third, fifth and last days of the week to make the seven-day period record a loss overall.
May ‘16 - Week 4 (22nd to 28th)
- Gold rates continuously declined through the week with a small spike on the 26th of May.
- Gold prices were recorded at Rs. 3,015 on the 22nd of May and Rs. 2,916 on the 28th of May.
- The decline in gold rates in Coimbatore can be attributed to the global trend of gold, expectations of a rate hike and slow intake from coin makers and industrial units.
May ‘16 - Week 5 (29th to 31st)
- Rate of gold was quite steady during the final week of May with very minor fluctuations.
- Gold traded at Rs. 2,916 per gram on the 29th of May, Rs. 2,899 per gram on the 30th of May and Rs. 2,914 per gram on the 31st of May.
- There was a slight decline in the price of gold as the month progressed due to expectation of rate hike by the U.S. Fed.
|1st April rate||Rs 2,890|
|30th April rate||Rs 3,069|
|Highest rate in April||Rs 3,069 on 30th|
|Lowest rate in April||Rs 2,869 on 4th|
|% Change||+ 6.19%|
Apr'16 - Weeks 1 & 2 (1st to 10th)
- Gold profited in the first two weeks of the month as uncertainty over the fed rate hike as well as a weaker dollar spurred rates.
- Prices were Rs.2,877 on 1st and Rs.2,944 on 10th.
- Prices fluctuated all through the week, though the downs were lower than the ups, resulting in a cumulative gain of Rs.67 over the weeks.
Apr ‘16 - Week 3 (11th to 17th)
- Gold prices saw low fluctuations in the third week.
- Prices were Rs.2,950 on 11th and Rs.2,957 on 17th.
- Prices dropped at the beginning of the week before stabilizing towards the end.
Apr ‘16 - Week 4 (18th to 24th)
- Gold was stable on the whole during the fourth week.
- Prices were Rs.2,960 on 18th and Rs.2,958 on 24th.
- Prices rose to Rs.2,998 on 21st but lost the gains in the next 3 days to settle at Rs.2,958 for the week.
Apr ‘16 - Week 5 (25th to 30th)
- Gold rates appreciated during the week, with gold trading at Rs 2,962 on 25th.
- Prices steadily increased, crossing the Rs 3,000 mark on 29th.
- The week ended with gold trading at Rs 3,069, the highest for the month.
1st March rate
31st March rate
Highest rate in March
Rs 2,991 on 8th, 9th and 10th
Lowest rate in March
Rs 2,699 on 2nd and 11th
Mar'16 - Week 1 (1st to 6th)
- Gold markets were closed in the city of Coimbatore from 1st to 6th March as jewellers and bullion traders called an indefinite strike against the proposed 1% excise duty on gold jewellers announced during the recent budget.
- Prices were constant at Rs.2,976 over the week.
Mar'16 - Week 2 (7th to 13th)
- Gold saw sporadic trading in the second week as agitations continued over introduction of 1% excise duty on non-silver jewellery sales and PAN disclosures for jewellery purchases above Rs.2 lakhs.
- Prices were Rs.2,970 on 7th and Rs.2,989 on 13th.
Mar ‘16 - Week 3 (14th to 20th)
- Gold markets remained suspended for the most part as protests entered the third week.
- Prices were Rs.2,937 on 14th and Rs.2,940 on 20th.
Mar ‘16 - Week 4 (21st to 27th)
- Gold markets limped back to normalcy as jewellers opened stores for the most part even as traders carried their protest into the fourth week.
- Prices were Rs.2,914 on 21st and Rs.2,896 on 27th.
- Gold appreciated to Rs.2,943 by 25th before settling at Rs.2,896 by 25th and staying stable for the next 2 days.
Mar ‘16 - Week 5 (28th to 31st)
- International cues helped gold rates stabilise after a drop in prices compared to the previous week.
- Prices were between Rs 2,874 and Rs 2,910 in Coimbatore during the week.
1st February rate
29th February rate
Highest rate in February
Rs.2,984 on 25th and 29th
Lowest rate in February
Rs.2,720 on 1st
Feb'16 - Week 1 (1st to 7th)
- Gold prices appreciated in the 1st week of February as jewellers bought more on the domestic front to meet the wedding season demand while the global cues were also favourable.
- Prices were Rs.2,720 on 1st and Rs.2,813 on 7th.
- Gold also breached the 2,800-mark for the first time this year in the week.
- Prices rose on all days of the week, touching a 9-months high of Rs.2,813 on 6th and 7th.
Feb '16 - Week 2 (8th to 14th)
- Gold prices surged again in the 2nd week as domestic demand for the ongoing wedding season remained healthy while strong global cues and a depreciating rupee also helped nudge rates up.
- Prices were Rs.2,814 on 8th and Rs.2,936 on 14th.
- Gold breached the 2,900-mark for the first time this year on 12th as prices rose to Rs.2,960.50, also the highest rate for gold in over 19 months.
- Prices slid to a comfortable Rs.2,936 on 13th and remained stable on 14th on account of weekend holidays.
Feb '16 - Week 3 (15th to 21st)
- Gold gained value in the third week, riding on the back of strong global trends and sustained buying by domestic jewellers and retailers.
- Prices were Rs.2,888.50 on 15th and Rs.2,973 on 21st.
- Gold gained a total of Rs.84 through the week, and was trading in the positive for most of the days except on 17th when prices dropped by Rs.11.50.
- Gold breached its earlier high set in the 2nd week and touched a whopping Rs.2,973 to end the week on a high note.
Feb '16 - Week 4 (22nd to 29th)
- Gold gained more value at the far end of February.
- Prices were Rs.2,928 on 22nd and Rs.2,984 on 29th.
- Gold clocked in gains for the first 4 days of the week as globally the metal performed better, while prices dipped a little before end of the month as domestic sector posted weak demand.
- Gold rose to Rs.2,984 by 25th but lost Rs.24 over the next 3 days to settle at Rs.2,960 by 28th.
- The Leap Day saw gold recouping the losses and rising by Rs.24 to settle at Rs.2,984 for the month.
|4th January rate||Rs.2,569|
|31st January rate||Rs.2,710|
|Highest rate in January||Rs.2,719 on 28th|
|Lowest rate in January||Rs.2,569 on 4th|
Jan'16 - Week 1 (4th to 10th)
- Gold prices appreciated during the first week of January as increased buying in the domestic sector and favourable global cues uplifted value.
- Prices were Rs.2,569 on 4th and Rs.2,635 on 10th.
- Gold had positive sessions from 4th to 7th, which elevated rates to Rs.2,629 by 7th.
- Prices were slightly lower on 8th at Rs.2,626, but rebounded on 9th to touch Rs.2,635.
- Prices were stable at Rs.2,635 on 10th on account of weekend break.
Jan '16 - Week 2 (11th to 17th)
- Gold prices appreciated in the 2nd week as jewellers increased buying to meet domestic wedding season demand while global cues were also favourable.
- Prices were Rs.2,632 on 11th and Rs.2,654 on 17th.
- Gold prices depreciated in the first 3 days of the week to settle at Rs.2,593 by 13th.
- Prices rallied on 14th by Rs.38 to touch Rs.2,631 and settled at Rs.2,630 on 15th.
- Gold was up again on 16th to Rs.2,654 where it remained stable for 17th also owing to closed markets on Sunday.
Jan '16 - Week 3 (18th to 24th)
- Gold rates appreciated again in the 3rd week, touching two-week high rates on 20th on the back of increased domestic demand as well as favourable global trends.
- Prices were Rs.2,642 on 18th and Rs.2,660 on 24th.
- Gold gained Rs.24 over the course of 19, 20th and 21st to settle at Rs.2,676 by 21st.
- Prices fell to Rs.2,658 on 22nd on weak demand, before marginally rising to Rs.2,660 where it stayed to end the week.
Jan '16 - Week 4 (24th to 31st)
- Gold prices appreciated towards the end of the month.
- Prices were Rs.2,678 on 25th and Rs.2,710 on 31st.
- Prices rallied over the week as domestic demand was at healthy levels while the dollar weakened on global cues.
- Gold rallied to Rs.2,719 by 28th before dropping marginally to Rs.2,706 on 29th.
- Prices rose to Rs.2,710 on 30th and stayed there on 31st.
1st December rate
31st December rate
Highest rate in December
Rs.2,598 on 5th and 6th
Lowest rate in December
Rs.2,521 on 3rd
Dec'15 - Week 1 (1st to 7th)
- Gold prices appreciated in the 1st week of December.
- Rates were Rs.2,565 on 1st and Rs.2,593 on 7th.
- Rates declined on 2nd and 3rd to fall to Rs.2,521 on 3rd.
- Gold gained substantially over the next two days by margins of Rs.24 and Rs.53 to touch Rs.2,598 by 5th.
- Gold declined by Rs.5 on 7th to rest at Rs.2,593.
Dec'15 - Week 2 (8th to 14th)
- Gold prices were stable on the whole in the 2nd week.
- Rates were Rs.2,572 on 1st and Rs.2,570 on 7th.
- Prices appreciated to Rs.2,581 but settled back on Rs.2,573 on 10th.
- There was further drop in rates on 11th to Rs.2,562 but the losses were covered comfortably on 12 when prices rose to Rs.2,593.
- Gold declined on the last day to Rs.2,570 from Rs.2,593 on 13th.
Dec'15 - Week 3 (15th to 21st)
- Gold prices were once again stable in the 3rd week.
- Prices were Rs.2,559 on 15th and Rs.2,559 on 21st.
- Gold lost Rs.4 till 17th to rest at Rs.2,555.
- Prices dropped steeply on 18th to fall to Rs.2,526 before rallying on the next day to recover most of the losses by ending the day at Rs.2,548.
- Gold appreciated marginally on 21st to end the week at Rs.2,559.
Dec'15 - Week 4 (22nd to 28th)
- Gold prices depreciated in the 4th week.
- Prices were Rs.2,573 on 22nd and Rs.2,556 on 28th.
- Gold declined to Rs.2,553 on 23rd and remained stable at the same rate on 24th.
- Prices picked up on 25th to Rs.2,565 and maintained that level till 27th.
- Gold declined marginally to Rs.2,556 on 28th.
Dec'15 - Week 5 (29th to 31st)
- Gold prices fell in the 5th week.
- Prices were Rs.2,560 on 22nd and Rs.2,534 on 28th.
- Gold lost value consecutively on 30th and 31st by Rs.6 and Rs.20 respectively to settle at Rs.2,534.
1st November rate
30th November rate
Highest rate in November
Rs.2,682 on 2nd
Lowest rate in November
Rs.2,544 on 30th
- Gold lost value in the 1st week of November.
- Rates were Rs.2,676 on 1st and Rs.2,608 on 7th.
- Gold gained value on 2nd to reach Rs.2,682, before declining over the next 3 days.
- Gold was priced at Rs.2,624 on 5th after 3 days of losses and gained a small value on 6th to reach Rs.2,626.
- 7th again saw drop in gold prices.
Nov '15 - Week 2 (8th to 14th)
- Gold lost value in the 2nd week of the month.
- Prices were Rs.2,608 on 8th and Rs.2,582 on 14th.
- Gold gained value on 9th to touch Rs.2,624.
- Gold rate declined marginally daily for the remaining days of the week.
Nov '15 - Week 3 (15th to 21st)
- Gold lost slight value in this week.
- Prices were Rs.2,582 on 15th and Rs.2,570 on 21st.
- Gold gained value on 16th, 19th and 20th and went down on 17th, 18th and 21st.
Nov '15 - Week 4 and 5 (22nd to 30th)
- Gold rates declined in the last weeks on November.
- Rates were Rs.2,571 on 22nd and Rs.2,544 on 30th.
- Prices stayed in the range of Rs.2,564 to Rs.2,573 till 27th, with gold selling at Rs.2,569 on 27th.
- Prices dropped continuously over the next four days by a cumulative Rs.29 to settle at Rs.2,544 on 30th.
1st October rate
31st October rate
Highest rate in October
Rs.2,734 on 15th
Oct '15 - Week 1 (1st to 7th)
- Gold rate appreciated in the first week of October.
- Gold was priced at Rs.2,622 on 1st and Rs.2,676 on 7th.
- Rates climbed steeply on 3rd by Rs.42 to reach Rs.2,666.
- Prices stayed around 2,650 mark over the next 4 days before breaching 2,670 mark on 7th.
Oct '15 - Week 2 (8th to 14th)
- Gold rate again appreciated in the second week of October.
- Gold was priced at Rs.2,663 on 8th and Rs.2,725 on 14th.
- Gold rate breached the 2,700 mark for the first time in the month on 12th when prices hit Rs.2,702.
- Gold rate dropped to Rs.2,686 on 13th before increasing to Rs.2,725 on 14th.
Oct '15 - Week 3 (15th to 21st)
- Gold rate remained stable overall in the third week of October.
- Rates were Rs.2,734 on 15th and Rs.2,732 on 21st.
- Gold rate on 15th at Rs.2,734 was the highest gold rate in Coimbatore for October.
- Gold stayed above the 2,720 mark for almost all days in the week except for 19th when prices dropped to Rs.2,713.
- Prices recovered in the next two days to breach the 2,730 mark once more.
Oct '15 - Week 4 (22nd to 28th)
- Gold rates increased in the fourth week of the month.
- Gold was priced at Rs.2,711 on 22nd and Rs.2,724 on 28th.
- Rates appreciated to Rs.2,721 on 23rd before dropping to Rs.2,702 on 24th.
- Rates remained stable for the remaining part of the week.
- Gold gained value on the last day of the week to touch Rs.2,724 from Rs.2,707.
Oct '15 - Week 5 (29th to 31st)
- Gold rates saw substantial loss in value in the last 3 days of the month.
- Prices had depreciated to Rs.2,708 on 29th, which fell to Rs.2,685 on 30th and dropped further on 31st to Rs.2,676.
Gold rate in Coimbatore on 1st of September 2015 was Rs.2,711. This declined to Rs.2,676 by 4th of the month, before appreciating to Rs.2,682 by 7th. Gold rates continued to decline over the next week, with week starting price at Rs.2,663 on 8th September and mid-week rate of Rs.2,627 on 12th of the month. By mid-month on 15th, gold rate had fallen to Rs.2,629, the lowest for the month.
Gold rate started gaining the lost value in the 2nd half of September. Prices climbed steeply from Rs.2,632 on 16th to Rs.2,672 on 19th of the month. Gold rate on 22nd was Rs.2,665 signalling a stabilization of rate. 23rd saw a fall in rate to Rs.2,652 which again climbed to the Rs.2,670+ level on 24th. Prices once again breached the Rs.2,700 mark on 25th and stayed at that level till 27th. Gold rate on 27th was Rs.2,702, denoting a recovery in rates over the month. There was a steep decline during the last two days of the month when prices dropped to a low of Rs.2,640 on 30th of the month.
Gold rate in the month of September saw high volatility, from a high of Rs.2,711 at the start of the month to Rs.2,640 at the end of the month. The rate drops during the month were recovered by 28th, however the last two sessions saw steep depreciation in rates. Gold rate is likely to remain volatile for the next few days before the festive season kicks in.
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.
24 karat gold – The current rate of 1 gram of 24 karat gold in Coimbatore is Rs 2715 (as of June 15, 2015). The rate has remained constant over the last few months, averaging at around Rs 2700 per gram.
22 karat gold – The cost of 1 gram 22 karat gold is approximately Rs 2540 as of June 15, 2015. The cost of 22 karat gold has hovered around the Rs 2550 mark, indicating a stability in costs, making it an opportune time to invest in gold.
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 Rate in Tamil Nadu
Also Check Gold Price in NearBy Cities of Coimbatore
|Also Know: Silver Rate in Coimbatore|
Read more on Gold
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- Important Points To Remember Before Buying Gold Jewellery
- Reasons Why Jewellery Is Significant In Indian culture