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Today's Gold Price Today in Tamil Nadu
The capital of the state, Chennai ranks above all other cities and towns in India in terms of gold trade. It is mainly because of the fact that this cosmopolitan city with the maximum number of sales and purchases of gold in India. Gold rate today in Tamil Nadu are also vital because Tamilian ornamentation and designs are renowned the world over. There is also a strong belief among the people that Tamil Nadu having a metropolitan city like Chennai and being the top 4 cities of the country makes this statistic important when it comes to gold trade.
October 2022 Gold Rate in Tamil Nadu
| Parameters | 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.5,089 per gram on 6, 8, and 9 October |
| Lowest Rate in October | Rs.4,898 per gram on 21 October |
| Overall Performance | Incline |
| Percentage Change | 0.52% |
September 2022 Gold Rate in Tamil Nadu
| Parameter | Gold price (24 karat) |
| September 1 Rate | Rs.4,946 per gram |
| September 30 Rate | Rs.4,925 per gram |
| Highest Rate in September | Rs.4,988 per gram on 6 September 2022 |
| Lowest Rate in September | Rs.4,841 per gram on 27 September 2022 |
| Overall Performance | Declined |
| Percentage Change | 0.42% |
Trend of Monthly Gold Rate in Tamil Nadu for September 2022
- The gold price in Tamil Nadu opened the month of September standing at the rate of Rs.4,946 per gram. Over the month of September, the precious yellow metal witnessed some fluctuations in its price and displayed an overall decline in its performance.
- The highest price for the month was Rs.4,988 on 6 September 2022.
- Gold prices in Tamil Nadu recorded their lowest for the month on 27 September 2022 when a gram of the 24-karat gold was being traded for Rs.4,841. The overall performance of the yellow metal witnessed a declining trend wherein the percentage change stood at 0.42%.
- The price of gold for the month of September closed at Rs.4,925 in Tamil Nadu.
Trend of Monthly Gold Rate in Tamil Nadu for August 2022
| Parameter | Gold price (24 karat) |
| August 1 Rate | Rs.5,035 per gram |
| August 31 Rate | Rs.4,992 per gram |
| Highest Rate in August | Rs.5,160 per gram on 13 August, 14 August and 15 August 2022 |
| Lowest Rate in August | Rs.4,992 per gram on 31 August 2022 |
| Overall Performance | Decline |
| Percentage Change | -0.85% |
Trend of Monthly Gold Rate in Tamil Nadu for August 2022
- The gold price in Tamil Nadu opened the month of August standing at the rate of Rs.5,035 per gram. Over the month of August, the precious yellow metal witnessed some fluctuations in its price and displayed an overall decline in its performance.
- The highest price for the month was Rs.5,160 on 14 August and 15 August 2022.
- Gold prices in Tamil Nadu recorded their lowest for the month on 31 August 2022 when a gram of the 24-karat gold was being traded for Rs.4,992. The overall performance of the yellow metal witnessed a declining trend wherein the percentage change stood at 0.85%.
- The price of gold for the month of August closed at Rs.4,992 in Tamil Nadu.
Gold investment Avenues in Tamil Nadu
When it comes to a safe investment option, Gold is considered to be one of the least riskiest of trading commodities in any market, whether regional or global. In Tamil Nadu too the yellow metal is considered an investment option that is lower on risk factors, primarily based on the fact that it is highly affordable and culturally significant as mentioned before. It is also an integral part of their investment portfolio along with stock market and mutual fund investments. Investors have various options for gold trading through gold contracts and physical gold.
Buying Physical Gold - In keeping with the rest of the country, the people of Tamil Nadu purchase gold mainly in the form of jewelry. Needless to say, there are a number of jewelry establishments spread in and around the city to meet this demand. Gold rates or prices are updated on a daily basis and can be obtained from those dealing in gold or online via many financial sites. India imports most of its gold requirements from abroad. Tamil Nadu which doesn’t have any significant gold production also contributes to the country’s need to substantiate gold demand through imports. Even though gold is bought as jewelry, it is done for reasons beyond ornamentation. Such purchases form a part of many buyers’ investment portfolio.
Market Avenue - In this state you can purchase gold through the markets, with gold being traded in the National Multi Commodity Exchange, National Commodity and Derivatives Exchange and the Multi Commodity Exchange. This is apt for individuals willing to purchase gold in bulk, with the minimum trading limit being set at 1 kg in general. It's a viable option for people who are well aware of the gold market and all that affects it.
FAQs on Gold Rate in Tamil Nadu
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Will the prices of gold in Tamil Nadu be the same when compared to the other states?
No, gold prices in Tamil Nadu will be different when compared to the other states because of transportation costs and local taxes.
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Will fixed deposit interest rates play a role in affecting the prices of gold in Tamil Nadu?
Yes, fixed deposit interest rates will play a role in affecting the prices of gold in Tamil Nadu.
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What are the different factors that determine gold rates in India?
The different factors that determine gold rates in India are the value of the rupee against the dollar, import costs, and gold prices in the global markets.
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What is the main difference between 22 karat gold and 24 karat gold?
The main difference between 22 karat gold and 24 karat gold is the purity of gold. 24 karat gold does not contain any other metals, while 22 karat gold contains other metals apart from gold.
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Is there any particular time that I must purchase gold?
No, gold can be purchased as per your requirements.
