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Gold Price in Hosur
The modern day Hosur, located in Tamil Nadu is a satellite town of Bangalore, though it falls under the legalities and jurisdiction of Tamil Nadu. Hosur houses many industrial complexes and SEZs for industrial companies. Though from a birds-eye-view it might seem that Hosur is not a very prospering region, looks often belie the fact that the region is quite prosperous and residents invest in gold quite frequently. Industrial activity and a good pay scale in these areas has contributed to a healthy consumption of gold in Hosur while the rates of gold are more or less in tune with the international markets. Hosur being primarily an industrial town, festivities being observed are far and few between, so the gold that is actually invested in Hosur accounts mostly through investment. That in no way may signify that the consumption of gold in the form of jewellery is ignored.
Trend of Gold Rate in Hosur for April 2020 to June 2020 (per gram of 24 karat gold)
|1st Day||Rs.4,150 per gram||Rs.4,670 per gram||Rs.4,917 per gram|
|Last Day||Rs.4,720 per gram||Rs.4,916 per gram||Rs.5,067 per gram|
|Highest Price||Rs.4,720 per gram on 30 April 2020||Rs.4,916 per gram on 26, 27, and 31 May 2020||Rs.5,067 per gram on 30 June 2020|
|Lowest Price||Rs.4,150 per gram from 1 to 5 April 2020||Rs.4,621 per gram on 2 May 2020||Rs.4,483 per gram on 9 June 2020|
Trend of Gold Rate in Hosur for January 2020 to March 2020 (per gram of 24 karat gold)
|1st Day||Rs.3,922 per gram||Rs.4,169 per gram||Rs.4,274 per gram|
|Last Day||Rs.4,074 per gram||Rs.4,368 per gram||Rs.4,253 per gram|
|Highest Price||Rs.4,125 per gram on 8 January||Rs.4,394 per gram on 25 February||Rs.4,153 per gram on 18 March|
|Lowest Price||Rs.3,919 per gram on 2 January||Rs.4,127 per gram on 6 February||Rs.4,111 per gram on 20 March|
The 24 karat variant of gold that is regarded as the purest variety is also the softest variant of the precious metal and in its own weight, isn’t worth for crafting jewellery. The primary reason being that it is too soft for daily use. 24 karat gold is normally used in conjunction with other metals such as copper, platinum, bronze and others to produce different shades of gold that have some amount of weight and durability required in jewellery. 22 karat gold is also a variant that is used for jewellery and for plating conducting metals used in electronics. 18 karat and 14 karat gold are lesser used variants, finding their applications in mostly commercial uses though usability in jewellery is not unheard of. International market trends, import duties and various government cess affect the rates of gold in Hosur, along with the economic law of supply and demand. The difference in the international rates and the local rates in Hosur stays more or less marginal though.
Investment in Gold in Hosur
Of late, a government introduced gold scheme has intentions of monetising gold and the same is available through major and minor banks alike across the nation. Even then, people have not stopped buying gold in Hosur. Popular options for investing in gold in Hosur can include the traditional method of buying jewellery and ornaments and also the more modern method of investing in paper gold. The frequent methods for doing so are mentioned below.
Commercial and Personal Gold
Commercial and personal gold can include coins, gold purchased for industrial purposes and jewellery. Herein, the value of physical gold is placed on a pedestal and this is the form of gold that is most accepted in India and, so to speak, in Hosur.
Gold through Market Trade
Gold in its physical form might not present a very feasible option for many people. For that specific reason, gold ETFs and bonds are available online with most banks in Hosur. Apart from that, people can also trade in gold on the National Stock Exchange, but that would require a considerable amount of funds.
Also Check Gold Price in NearBy Cities of Hosur
- Also Check: Gold Rate in Tamil Nadu
Read more on Gold
|How Does Gold Investment Affect Indian Economy?||Things To Remember Before Buying Gold Jewellery|
|10 Things You Need To Know About Gold Monetisation Scheme||What Do The Markings On Gold Mean|
|Which One Should You Buy Gold Coins Or Gold Bars|