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Gold Price in Tamil Nadu
Tamil Nadu is said to be one of the most prosperous states in Southern India and has a reputation for gold lovers in terms of jewelry or ornamentation as well as trade since people can afford it. A lot of people consider it with a holistic perspective. 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 rates 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.
Gold Rate Trend in Tamil Nadu for October 2020 to December 2020 (per gram of 24 karat gold)
|1st Day||Rs.5,274 per gram||Rs.5,194 per gram||Rs.4,931 per gram|
|Last Day||Rs.5,193 per gram||Rs.4,935 per gram||Rs.5,143 per gram|
|Highest Price||Rs.5,332 per gram on 13 October||Rs.5,215 per gram on 10 November||Rs.5,212 per gram on 21 December|
|Lowest Price||Rs.5,096 per gram from 21 October||Rs.4,935 per gram on 30 November||Rs.4,931 per gram on 1 December|
Quarterly Gold Rate in Tamil Nadu from October 2020 to December 2020:
- In October, the prices of gold in Tamil Nadu declined by 1.53% over the course of the month. The prices of the yellow metal on the first day and the last day of the month were Rs.5,274 and Rs.5,193 per gram, respectively. The highest and lowest rates that gold touched in October were Rs.5,332 and Rs.5,096 for a gram, respectively.
- On 1 November 2020, gold prices were at Rs.5,194 for a gram. Over the course of the month, the prices of the yellow metal declined by 5.24% and were at Rs.4,935 per gram. The lowest and highest rates that gold touched for the month were at Rs.4,935 and Rs.5,215 for a gram, respectively.
- In December, gold prices increased by 4.29% over the course of the month in Tamil Nadu. The prices of the yellow metal opened and closed the month at Rs.4,931 per gram and Rs.5,143 for a gram, respectively. The highest and lowest rates that the yellow metal touched for the month were Rs.5,212 and Rs.4,931 for a gram, respectively.
Gold Rate Trend in Tamil Nadu for July 2020 to September 2020 (per gram of 24 karat gold)
|1st Day||Rs.4,908 per gram||Rs.5,437 per gram||Rs.5,221 per gram|
|Last Day||Rs.5,381 per gram||Rs.5,190 per gram||Rs.5,076 per gram|
|Highest Price||Rs.5,381 per gram on 31 July||Rs.5,691 per gram on 7 August||Rs.5,221 per gram on 1 September|
|Lowest Price||Rs.4,841 per gram on 6 July||Rs.5,158 per gram on 29 August||Rs.4,993 per gram on 24 September|
Quarterly Gold Rate in Tamil Nadu from July 2020 to September 2020:
- The prices of gold in July in Tamil Nadu opened at Rs.4,908 per gram and closed at Rs.5,381 per gram. The prices of gold had increased by 9.63% for this month. The outbreak of coronavirus all over the world and the stimulus measures introduced by governments and central banks were the reasons due to which the gold rates rose significantly.
- On 1 August 2020, the price of gold was recorded to be at Rs.5,437 for a gram. By the end of the month, price of gold had reached Rs.5,190 per gram. Prices of gold in Tamil Nadu had fallen as many countries decided to reopen their economies. Gold rates declined by 4.54% in August.
- In September, the rates of the precious metal had dropped by 2.77%. Gold prices dropped due to the increase in appetite for riskier products. The gold prices in Tamil Nadu for the month of September opened at Rs.5,221 and closed at Rs.5,076.
Gold Rate Trend in Tamil Nadu 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|
Quarterly Gold Rate in Tamil Nadu from April to June:
- The price of the yellow metal opened the month of April 2020 at the rate of Rs.4,150 per gram and showed an overall inclining trend of 13.73%. The highest price of the yellow metal was recorded on the last day of the month. The month came to a close with the precious metal being traded at the rate of Rs.4,961 per gram.
- Opening the month of May 2020 at the rate of Rs.4,670 per gram, gold prices in Tamil Nadu witnessed an overall incline for the month. The highest price of the yellow metal was recorded on 26, 27, and 31 May wherein it stood at the rate of Rs.4,916 per gram. The month came to an end with the price of the precious metal standing at the rate of Rs.4,916 per gram. The overall performance increased by 5.26%.
- The price of the yellow metal opened the month of June 2020 at the rate of Rs.4,917 per gram. It showed an overall inclining trend of 3.05% with the risk appetite amongst investors increasing. The month came to a close with the highest price of gold being recorded on the last day wherein it was being traded at the rate of Rs.5,067 per gram.
Gold Rate Trend in Tamil Nadu 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|
Quarterly Gold Rate in Tamil Nadu from January 2020 to March 2020:
- The price of gold in Tamil Nadu opened at Rs.3,992 per gram and closed at Rs.4,074 in the month of January, with the highest price being at the start of the second week, at Rs.4,125 and the lowest price being in the first week, at Rs.3,919 (all prices per gram for 24 karat gold). The overall trend in January was on an incline of 3.87%. This was due to the uncertainty in the stock markets due to the US-China trade war and the US-Iran conflict, compounded by fears of the coronavirus epidemic in China that was affecting the Chinese stock markets as well. All of these contributed to gold being seen as a safe-haven investment.
- In February, gold saw an even greater incline of 4.77% with the highest price being Rs.4,394, having opened at Rs.4,169 and closing at Rs.4,368, and the lowest being Rs.4,127. This was following the Covid-19 epidemic in China escaping the borders and becoming a global pandemic, which saw investors panic buying gold and other precious metals as a safe haven investment.
- By March, the price of gold had plummeted with a decline of –0.49% with the highest price being RS.4,153 and the lowest being Rs.4,111. It had opened at Rs.4,274 and closed at Rs.4,253. This was due to the economic downturn caused by the lockdowns announced in most of the countries, that led to a dip in the physical trading of gold as well as in the trading in the bullions market. Most investors chose to liquidate all assets to keep cash in hand to face a possible global recession caused by the impact of the coronavirus on the world economies.
Also Check Gold Price in Metro Cities
|Today's Gold Rate In Bangalore||Today's Gold Rate In Delhi||Today's Gold Rate In Hyderabad|
|Today's Gold Rate In Kolkata||Today's Gold Rate In Mumbai||Today's Gold Rate In India|
Also Check Gold Prices in the Cities of 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.
Also Check Petrol Price and Diesel Price in Tamil Nadu
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