Gold Rate Today in Salem Last Updated : 04 Dec 2022

Gold rates in Salem depend on several global factors such as gold imports, oil prices and strength of the dollar among others. Gold rates touched a 4-year low in India and over five-year low globally this year.

According to experts, gold prices today are unlikely to rise in the near future due to an imminent hike in interest rates by the US Fed and Greeceā€™s default crisis. Intriguingly, 60% of demand for gold comes from rural India especially during weddings.

  • Today's Gold Rate in Salem (04 Dec 2022)

    ₹ 5,016
    Today's Gold Rate (22K) per gram

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

    Rate Change
    Standard Gold (22 K) (1 gram) ₹ 5,016 ₹ 5,016 ₹ 0 ↑
    Standard Gold (22 K) (8 grams) ₹ 40,128 ₹ 40,128 ₹ 0 ↑
    Pure Gold (24 K) (1 gram) ₹ 5,267 ₹ 5,267 ₹ 0 ↑
    Pure Gold (24 K) (8 grams) ₹ 42,136 ₹ 42,136 ₹ 0 ↑

    Daily Gold Rates

    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    04 Dec 2022 ₹ 5,016 ₹ 40,128 ₹ 5,267 ₹ 42,136
    03 Dec 2022 ₹ 5,016 ₹ 40,128 ₹ 5,267 ₹ 42,136
    02 Dec 2022 ₹ 5,010 ₹ 40,080 ₹ 5,261 ₹ 42,088
    01 Dec 2022 ₹ 4,955 ₹ 39,640 ₹ 5,203 ₹ 41,624
    30 Nov 2022 ₹ 4,916 ₹ 39,328 ₹ 5,162 ₹ 41,296
    29 Nov 2022 ₹ 4,916 ₹ 39,328 ₹ 5,162 ₹ 41,296
    28 Nov 2022 ₹ 4,921 ₹ 39,368 ₹ 5,167 ₹ 41,336
    27 Nov 2022 ₹ 4,925 ₹ 39,400 ₹ 5,171 ₹ 41,368
    26 Nov 2022 ₹ 4,925 ₹ 39,400 ₹ 5,171 ₹ 41,368
    25 Nov 2022 ₹ 4,935 ₹ 39,480 ₹ 5,182 ₹ 41,456

    Weekly & Monthly Graph of Gold Rate in Salem (1 gram)

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    • 6 Months

    *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.

    Today's Gold Price in Salem

    Experts, therefore, warn that reducing rural purchasing power, crop failure and a bad monsoon may hit gold sales. According to World Gold Council, 50% of the Indian population is under 25 years. As a result, around 150 million weddings are likely to take place in the coming ten years.

    Most consumers in Salem buy gold jewellery for traditional festivals and weddings. Auspicious days such as Dhanteras and Akshaya Tritiya attract long queues in front of jewellery stores in Salem. In addition to its obvious ornamental uses, gold is used as a safe hedge against inflation.

    November 2022 Gold Rate in Salem

    Parameter Gold price (24 karat)
    November 1 Rate Rs.4,940 per gram
    November 30 Rate Rs.5,162 per gram
    Highest Rate in November Rs.5,208 per gram on 16 November
    Lowest Rate in November Rs.4,940 per gram on 1 November
    Overall Performance Incline

    October 2022 Gold Rate in Salem

    Parameter Gold price (24 karat)
    October 1 Rate Rs.4,925 per gram
    October 31 Rate Rs.4,951 per gram
    Highest Rate in October Rs.4,982 per gram on 27 October
    Lowest Rate in October Rs.4,940 per gram on 29 and 30 October
    Overall Performance Decline

    September 2022 Gold Rate in Salem

    Parameter Gold price (24 karat)
    September 1 Rate Rs.4,946 per gram
    September 30 Rate Rs.4,884 per gram
    Highest Rate in September Rs.4,925 per gram on 23 September
    Lowest Rate in September Rs.4,851 per gram on 21 September
    Overall Performance Incline

    August 2022 Gold Rate in Salem

    Parameter Gold price (24 karat)
    August 1 Rate Rs.5,035 per gram
    August 31 Rate Rs.5,056 per gram
    Highest Rate in August Rs.5,108 per gram on 5 August
    Lowest Rate in August Rs.5,035 per gram on 1 August
    Overall Performance Incline

    Gold as an investment in Salem

    Gold in Salem is extensively used for making jewellery with traditional designs. Several jewellers offer hallmarked jewellery offering a wide array of gold articles ideal for several festive occasions.

    Over-the-counter - Gold is sold in retail in the form of bullions, coins and jewellery in Salem. The precious metal has traditionally been a preferred choice of most consumers in Salem as a store of value. Gold as a physical asset is, by and large, viewed a safer investment compared to equities and bank deposits. In addition to various national and international economic transactions, current account deficit and geopolitics, transportation costs and local taxes are included in the price of gold sold in retail chains in Salem.

    Market trade - Several investors prefer buying gold exchange traded funds (ETFs) to physical gold since the former offers higher liquidity and ease of storage. However, gold ETFs are currently on a downward slide owing to falling prices of gold in india and globally. Similarly, gold futures for delivery in the month of August hit the lowest price in a day in six years at 1,134/ounce. Various other factors including sale of over 30 tonnes of gold in the Shanghai spot market recently led to a sharp fall in gold rates.

    FAQs on Gold Rate in Salem

    1. Where should I buy gold in Salem?

      In Salem, you can buy gold from any reputed jeweller. You can conisder buying gold from one of the many branded jewellers or even buy it from small jewellers. However, you have to make sure that the gold that you are getting is hallmarked and has proper authentication and paperwork done.

    2. Why do gold rates fluctuate in different cities in Salem?

      The main reason behind the varied rates of gold across different cities and states in India is the addition of transportation charges of the precious metal. In addition to that, the rates also vary depending on the discount provided for bulk purchases. The transportation charges added to the price of gold leads to the fluctuating rates across the country during the same period.

    3. What is 23 karat gold in Salem?

      If a customer is looking for high purity gold jewellery, 23 karat gold is a good option. Since the purity is higher, the price of the 23 karat gold is also slightly higher than 22 karat gold. Although the price is lower than 24 karat gold.

    4. What is KDM gold in Salem?

      The gold alloy wherein zinc and copper are used as soldering material is called KDM gold.

    5. What is Hallmark Gold in Salem?

      The Bureau of Indian Standards or BIS uses a standard for the certification of gold. This certification is known as Hallmark.

    6. What is 22 karat gold in Salem?

      22 karat gold is one of the standards of measuring the purity of gold. Gold, in its purest form, is not very strong and is prone to break. Thus, the purest form of gold cannot be used to make gold ornaments. Some impurity is mixed with this gold to get the 22 karat gold which is much stronger and is generally used for making gold ornaments.

    7. What is 916 gold in Salem?

      916 gold is another name for 22 karat gold. 916 is nothing but the denotation of the percentage of gold present in a gold alloy. 916 stands for 91.6% of gold. Thus, in 22 karat gold, the percentage of pure gold is 91.6%.

    Check Gold Price in NearBy Cities of Salem

    News on Salem Gold rate

    • Gold selling for Rs.51,170 for 10 grams in Chennai on 18 October 2022

      In Chennai, the prices of 24-carat gold were for Rs.51,170 per 10 grams on 18 October 2022. The prices of 22-carat gold were Rs.46,910 for 10 grams. When compared to the previous session, the prices of the yellow metal increased slightly. Gold futures prices in the US fell by 0.3% and were trading at Rs.1,658.30 for an ounce. Spot gold prices in the international markets remained steady and were trading at $1,651.75 for an ounce.

      19 September 2022

    • Gold Rates on 27 September 2022

      Gold prices are higher than average according to the Multi Commodity Exchange (MCX). The price of gold futures for 5 October 2022 delivery was Rs.49,190 per 10 kilos, up Rs.102 or 0.21%. When the market closed, the price of gold per 10 grams was Rs.49,150.

      28 September 2022

    • Gold prices at Rs.50,360 for 10 grams

      Gold prices jumped in India on 23 September 2022. The upcoming festive season ensured that the prices of the yellow metal increased. The prices of 22 carat gold are Rs.46,010 for 10 grams, while the prices of 24 carat gold are Rs.50,2100 for 10 grams. Spot gold prices are $1,671.60 for an ounce. Gold futures prices in the US are trading at $1,682.80 for an ounce.

      24 September 2022

    • Gold price declined by Rs.1,500

      The price of 24 karat per tola gold declined by Rs.1,500 per tola and was sold at Rs.1,39,000 on Thursday. The price of the yellow metal plunged by Rs8,000 per tola for three consecutive days. Meanwhile, silver prices in the domestic market remained unchanged at Rs1,520 per tola and Rs1,303.15 per 10 grams yesterday.

      3 September 2022

    • Gold Prices on 23 August 2022 in Salem

      The price of ten grams of 24-karat gold has decreased from the trade price on Monday, August 22, 2022, to Rs.51,230. In Salem, Tamil Nadu, the price of gold was Rs.53,080 for 10 grams of 24 carat gold.

      24 August 2022

    • Gold prices fall

      The price of gold slipped due to fear of another hike in interest by the Federal Reserve. The price of gold fell 0.3% at Rs.51,467 per 10 grams while the spot gold dropped 0.2%.

      20 August 2022

    • Gold prices increase across India on 21 July 2022

      There was a rise in gold prices across India on 21 July 2022. On Thursday, gold was trading higher by Rs.110 for 10 grams. The price of 24 karat gold in major metros across India are as follows: Delhi (Rs.50,630), Mumbai (Rs.50,630), Kolkata (Rs.50,630), and Chennai (Rs.50,800). All the prices are for 10 grams of 24 karat gold.

      22 July 2022

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