Gold Rate Tamil Nadu
Last updated on: 29th May 2023 09:40 AM
Indian households are one of the largest consumers of gold in the world, and Tamil Nadu is a leader in gold consumption here. It is a prosperous state where you can find gold from every house to every temple in different forms. The state is known for its craftsmanship in gold jewellery. Gold is the most common metal for consumption and investment. The demand for gold products is always high in Tamil Nadu, especially during the wedding season, on auspicious occasions and during festivals.
As the demand is expected to remain high here, investors have good opportunities. Read on to learn more about gold rates in Tamil Nadu and how you can proceed with your investments.
Always keep track of the updated daily price of gold. Price is determined per gram. Cross-check with the seller about the price per gram.
There are various purity levels of gold such as 19K, 21K, 22K, and 24K. Purity depends upon the ratio of other elements added to gold. The purest forms are 22K and 24K.
Purity levels of gold items are determined by the Bureau of Indian Standards(BIS). Always check for the BIS mark on the gold item and a certificate of authenticity issued by BIS.
It would be best if you always insisted on a detailed bill from the seller. A detailed bill includes making charges for the jewellery, import duty, GST, and any other hidden charges.
Here are the various gold investment options available in Tamil Nadu presently:
Gold jewellery is a crucial part of the vibrant culture of Tamil Nadu. Most of the households own some form of gold jewellery. It is used in daily life and its demand increases during wedding seasons and auspicious festivals. You can buy gold jewellery from any trustworthy seller in your area or any credible source online.
Gold coins and bars
After gold jewellery, gold bars and coins are famous in Tamil Nadu. You can buy coins and bars from jewellery showrooms, banks, and any online aggregator. Always buy coins and bars from a trustworthy source only. You should also keep in mind that some sellers, like banks, have no buy-back policy.
Gold Exchange-traded funds
Gold ETFs track the price of gold in India. They are listed on the National stock exchange (NSE) and Bombay stock exchange (BSE) and are traded just like stocks of any other company. Some of the prominent Gold ETFs are National Spot Exchange(NESL), National Commodity and Derivative Exchange (NCDEX) and Multi Commodity Exchange (MCE).
Through gold ETF you trade in gold in electronic form and not in physical form.
Gold Mutual Funds
The Securities and Exchange Board of India monitors and regulates mutual funds in gold. It is another way to diversify your investment portfolio. Unlike physical gold, you do not have to worry about storage or authenticity.
Sovereign Gold Bonds (SGB)
The Government of India issues sovereign gold bonds, through the Reserve Bank of India(RBI). When you buy SGB you pay the issue price in cash. When SGB matures in time then you can redeem them in cash.
|Day||24K Gold||22K Gold|
|29 May 2023|
|26 May 2023|
|25 May 2023|
|24 May 2023|
|23 May 2023|
|22 May 2023|
|19 May 2023|
|18 May 2023|
|17 May 2023|
|16 May 2023|
KDM gold is gold crafted with cadmium (also spelt as kadmium). Cadmium is used as a solder to bind soft gold. This process is used in jewellery making. Cadmium is preferred over other metals because it has a lower melting point. The ratio of gold to cadmium is 92:8, so went you buy KDM jewellery it has 92% gold and 8% cadmium.
On the other hand, hallmark jewellery is 100% gold. It is a sign of authenticity and is checked by the BIS. BIS assures the international quality of gold products. BIS is the sole agency for hallmark certification in India, so don't be fooled by any other organization claiming to give certificates of authenticity in Tamil Nadu.
The price of gold in Tamil Nadu is determined daily by the following factors:
What is BIS 916 Gold?
916 is a numerical representation of the purity of gold. Simply, it means that the final product has 91.6% pure gold in it. 916 gold is also known as 22K gold. It is the most common form of purity for jewellery making.
Is the price of gold in Tamil Nadu is same as in the rest of India?
What impact GST has on gold?
What is better- 22k or 24k?
Disclaimer: Wint Wealth makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are subject to change with market value and are provided on an as-is basis. Wint Wealth has no commercial interest or gain in or from the actions resulting from the information displayed on this page. Nothing contained herein is intended to or shall be deemed to be investment advice, implied or otherwise. You are advised to make your own enquiries, consult a professional advisor and verify the information prior to taking any investment decisions. We accept no liability for any loss arising from the use of the data contained on this website.