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  • Gold Rate In Erode

    Daily Gold Rates
    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    07 Dec 2016 ₹ 2,738 ₹ 21,904 ₹ 2,894 ₹ 23,152
    06 Dec 2016 ₹ 2,713 ₹ 21,704 ₹ 2,869 ₹ 22,952
    05 Dec 2016 ₹ 2,735 ₹ 21,880 ₹ 2,893 ₹ 23,144
    04 Dec 2016 ₹ 2,762 ₹ 22,096 ₹ 2,890 ₹ 23,120
    02 Dec 2016 ₹ 2,767 ₹ 22,136 ₹ 2,895 ₹ 23,160
    01 Dec 2016 ₹ 2,765 ₹ 22,120 ₹ 2,893 ₹ 23,144
    30 Nov 2016 ₹ 2,811 ₹ 22,488 ₹ 2,942 ₹ 23,536
    29 Nov 2016 ₹ 2,815 ₹ 22,520 ₹ 2,946 ₹ 23,568
    28 Nov 2016 ₹ 2,820 ₹ 22,560 ₹ 2,951 ₹ 23,608
    27 Nov 2016 ₹ 2,805 ₹ 22,440 ₹ 2,936 ₹ 23,488

    *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.

    Erode is a South Indian city located in Tamil Nadu. It is the seventh biggest continuous urbanized area in the state of Tamil Nadu and is located on the banks of River Kaveri. The city houses many historic temples which act as a tourist attraction. It is known to be one of the largest producers of turmeric in India and also has one of the largest markets for coconut. It has a booming agricultural and textile industry which provides employment to major part of the residents of Erode. Just like any other state in South India, Gold has a booming business in the city. There are gold store spread all over the city.

    Gold Rate In Erode

    Gold rate anywhere is based on the weight, quantity and quality of the yellow metal and the same is applicable to the gold rate in Erode. The price for gold of 22 karat is different from that of 24 karat gold and gold is measured in grams when sold as a commodity or physical investment. Given below is the gold rate for 22 karat and 24 karat gold in Erode for different weights.

    Gold rate for 22 karat

    Weight of 22 karat gold

    Price for 22 karat gold

    1 gram

    Rs.2,782

    10 gram

    Rs. 27,820

    100 gram

    Rs. 2,78,200

    1 kg

    Rs. 27,82,000

    Gold rate for 24 karat

    Weight of 24 karat gold

    Price for 24 karat gold

    1 gram

    Rs.2,979

    10 gram

    Rs. 29,790

    100 gram

    Rs. 2,97,900

    1 kg

    Rs. 29,79,000

    **The above mentioned rates are of 12/3/2016 and are subject to change.

    Gold Rate Trend in Erode for July 2016 to September 2016 (per gram of 24 karat gold)

    Factor July August September
    First day Rs.3,129 per gram Rs.3,201 per gram Rs.3,120 per gram
    Last day Rs.3,214 per gram Rs.3,142 per gram Rs.3,176 per gram
    Highest price Rs.3,214 per gram on 30th and 31st July Rs.3,229 per gram on 3rd August Rs.3,197 on 8th September
    Lowest price Rs.3,118.50 per gram on 25th July Rs.3,142 per gram on 31st August Rs.3,120 on 1st September
    Trend Incline Decline Incline
    Change +2.72% -1.84% +1.79%

    Gold Rate Trend of Erode in July 2016

    • Gold prices climbed by 2.72% this month on account of high demand in the domestic and global market.
    • On 1st July, gold traded at Rs.3,129 per gram.
    • The market had a bullish outlook as there were expectations that the central banks would provide monetary stimulus into the markets to negate the effects of the Brexit vote.
    • By the end of the month, gold had climbed to Rs.3,214 per gram.

    Gold Rate Trend of Erode in August 2016

    • The trend in gold prices this month was a decline of 2.08% because of growing expectations of the Fed rate hike this month.
    • Gold traded at Rs.3,201 per gram on 1st August.
    • Initially, gold prices climbed as demand was stable.
    • Gold traded at its highest on 3rd August at Rs.3,229 per gram.
    • The U.S Federal Reserve raised expectations of the interest rate hike which led to demand dropping in the global markets.
    • The week closed with gold trading low at Rs.3,142 on 31st August.

     

    Gold Rate Trend of Erode in September 2016

    • Gold prices were low at the start of the month.
    • Gold traded at Rs.3,120 per gram on 1st September which was the lowest rate recorded for this month.
    • By 8th September, gold reached its highest price for the month, trading at Rs.3,120 per gram.
    • Gold prices climbed this month on account of the U.S. Federal Reserve rate hike being put on hold in light of the upcoming U.S. presidential elections.
    • The trend for this month was an increase of 1.79% in gold prices. 

     Gold Rate Trend in Erode for April 2016 to June 2016 (per gram of 24 karat gold)

    Factor April May June
    1st day Rs. 2,890 per gram Rs. 3,069 per gram Rs.2,918 per gram
    Last day Rs. 3,069 per gram Rs. 2,914 per gram on 31st of May Rs.3,103 per gram
    Highest price Rs.3,069 per gram on the 30th of April Rs. 3,076 per gram on May 2nd Rs.3,180 per gram on 27th June
    Lowest price Rs. 2,869 per gram on 4th of April Rs. 2,899 per gram on the 30th of May Rs.2,911 per gram on 3rd June
    Trend Rising Decline Increase in price
    Change +6.19% -5.05% +6.33% increase

    Gold Rate Trend of Erode in April 2016

    • Gold traded at Rs. 2,890 per gram on the 1st of April.
    • Gold rate fluctuated a lot in April but still managed to rise to Rs. 3,069 per gram by the end of the month.

    Gold Rate Trend of Erode in May 2016

    • Expectations of a rate hike by the U.S. Federal Reserve pushed down gold prices as gold stood at Rs. 3,076 per gram on May 2nd.
    • Rising dollar further led to the decline of gold in May as gold traded at Rs. 2,914 per gram on the 31st of May.

    Gold Rate Trend of Erode in June 2016

    • Gold prices in Guntur were on the rise due to market forces and increased domestic demand.
    • Demand rose domestically in spite of a global trend of falling gold sales due to market stability at the start of the month.
    • Equities fell as the British referendum drew close, with the markets falling sharply and gold demand rising as the results were announced.
    • Gold prices were recorded at Rs.3,103 per gram after a high of Rs.3,180 per gram.

    Gold Rate Trend in Erode for January 2016 to March 2016 (per gram of 24 karat gold)

      Jan Feb March
    1st day Rs. 2,538 per gram Rs. 2,720 per gram Rs. 2,976 per gram
    Last day Rs. 2,710 per gram Rs. 2,984 per gram Rs. 2,891 per gram
    Highest price Rs. 2,719 per gram on January 28th Rs. 2,984 per gram on 25th of February Rs. 2,991 per gram on 8th and 9th of March
    Lowest price Rs. 2,538 per gram on 1st and 3rd of January Rs. 2,720 per gram on 1st of February Rs. 2,874 per gram on 28th of March
    Trend Rising Rising Decline
    Change +6.77% +9.70% -2.856%

    Gold Rate Trend of Erode in January 2016

    • Gold opened at Rs. 2,538 per gram on 1st of January.
    • Gold witnessed a steady rise in January owing to global demand.
    • By the end of January gold price had rose owing to the wedding season. Gold traded at Rs. 2,710 per gram on 30th of January.

    Gold Rate Trend of Erode in February 2016

    • Gold stood at Rs. 2,720 per gram on the 1st of February.
    • There was a steady rise in gold rate in February and gold hits its peak for the month on 25th of February at Rs. 2,984 per gram.

    Gold Rate Trend of Erode in March 2016

    • There was a decline in gold rate from 29th of February as gold opened at Rs. 2,976 per gram on 1st of March.
    • Low demand led to a further decline as gold was at its lowest for the month at Rs. 2,874 per gram on 28th of March.

    Gold investments in Erode

    While majority of the population views gold as a commodity, there are others who know that gold can also act as an investment. Listed below are the most popular gold investment options in Erode.

    • Gold jewelry- This is the most popular form of investment when it comes to Gold in Erode. Majority of the people prefer to purchase gold jewelry over other gold investments. But the price of gold jewelry will be much higher than the actual rate of gold as it includes many other charges like making charge, wastage charge, etc. Gold jewelry does not have much of a resale value if it has a very intricate design with precious stones and the price of the stones won’t be taken into value at the time of relase.
    • Market trade- One can invest in gold ETFs, E-gold and gold futures. It offers a very convenient and easy way to get exposure to gold in India. Though this type of investment is not as popular yet, a lot of people have started investing in it owing to the advantages offered by the investment.
    • Gold bullion and coins- Gold bullion and coins is another form to invest in gold. Gold bullion is the purest for of gold one can invest in and gold coins are relatively cheaper than bullion for people looking to invest minimum amount.

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