Last updated on: 29th Jan 2023 9:00 AM
Nagercoil, in Tamil Nadu, lies between the Western Ghats and the beautiful Arabian Sea. Surrounded by paddy fields and hills, Nagercoil was also known as the Granary of Travancore. The city got its name from the Nagaraja Temple, the temple of the serpent king.
South India has a deep cultural connection with gold. Gold plays a key role in southern India as a part of almost every ritual, be it weddings, festivals, or other social functions. Most brides are believed to wear around 100 to 300 grams of gold on the wedding day. Over time, other gold re-investments also gained prominence. It is no surprise that gold is also considered one of the oldest and most traditional forms of investment in Nagarcoil.
In this article, we will look at the gold prices in Nagercoil, investing in digital gold, documentation needed, and much more.
Gram | Yesterday | Today |
---|---|---|
1gm | ₹5,618.00 0.00 (0.00%) | ₹5,618.00 0.00 (0.00%) |
8gm | ₹44,944.00 0.00 (0.00%) | ₹44,944.00 0.00 (0.00%) |
10gm | ₹56,180.00 0.00 (0.00%) | ₹56,180.00 0.00 (0.00%) |
100gm | ₹5,61,800.00 0.00 (0.00%) | ₹5,61,800.00 0.00 (0.00%) |
The various factors that influence gold rates include:
Interest Rates: The price of gold is also influenced by interest rates. Gold prices decrease when interest rates rise, while they increase when interest rates decline.
Investors invest less money in gold when interest rates are high because they have more opportunities to earn a return on their investment elsewhere. When interest rates are low, investors have fewer opportunities to make money elsewhere, so they put more of their money into gold.
Day | 24K Gold | 22K Gold |
---|---|---|
30 Jan 2023 | ₹5,618.00 0.00 (0.00%) | ₹5,350.00 0.00 (0.00%) |
29 Jan 2023 | ₹5,618.00 0.00 (0.00%) | ₹5,350.00 0.00 (0.00%) |
28 Jan 2023 | ₹5,618.00 6.00 (0.11%) | ₹5,350.00 5.00 (0.10%) |
27 Jan 2023 | ₹5,612.00 -37.00 (-0.65%) | ₹5,345.00 -35.00 (-0.65%) |
26 Jan 2023 | ₹5,649.00 37.00 (0.66%) | ₹5,380.00 35.00 (0.66%) |
25 Jan 2023 | ₹5,612.00 -11.00 (-0.19%) | ₹5,345.00 -10.00 (-0.18%) |
24 Jan 2023 | ₹5,623.00 34.00 (0.61%) | ₹5,355.00 32.00 (0.61%) |
23 Jan 2023 | ₹5,589.00 3.00 (0.06%) | ₹5,323.00 3.00 (0.06%) |
22 Jan 2023 | ₹5,586.00 0.00 (0.00%) | ₹5,320.00 0.00 (0.00%) |
21 Jan 2023 | ₹5,586.00 -5.00 (-0.08%) | ₹5,320.00 -5.00 (-0.09%) |
Indians have an affinity towards gold, either as jewellery or in other forms. Let’s read some interesting facts about gold here:
While purchasing gold jewellery in Nagercoil, check the following aspects to avoid making mistakes and ensure the full worth of your investment.
Day | 24K Gold | 22K Gold |
---|---|---|
01 January 2023 | 5387 | 5130 |
30 January 2023 | 5618 | 5350 |
Highest | 5649 | 5380 |
Lowest | 5387 | 5130 |
Gold, in physical forms like coins, jewellery, bars, etc., has been the traditional form of investment. However, today digital gold investments, like gold-related stocks and mutual funds, are the other forms of investment.
Based on the price of gold at maturity, the conversion is made. These gold savings plans are useful if you don't have a large enough lump sum to buy a lot of gold.
You can invest in physical gold, SGBs, or gold mutual funds and ETFs, depending on your choice. It is recommended to invest after careful market research and taking expert opinion. However, like any other form of investment, gold also carries risks.
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