Gold rate in Tirunelveli
gold rate in tirunelveli

24K Gold/ 10gm
57,490.00
0.00(0.00%)
22K Gold/ 10gm
54,750.00
0.00(0.00%)

Last updated on: 3th Feb 2023 10:00 AM

The 2000-year-old city of Tirunelveli, also known as Nellai in Tamil Nadu, is situated on the west bank of the Thamirabarani River, the only perennial river in the region. In the state, Tirunelveli ranks sixth in terms of its municipal corporation after Chennai, Coimbatore, Madurai, Tiruchirappalli, and Salem. It has a diverse topography and several physical features, including mountainous areas, low plains, rivers and waterfalls, seashore, and dense inland forest.

It is presently a manufacturing hub for jewellery, cigars, and textiles. It serves as a marketplace where buyers and sellers can exchange fine precious metals, coins, and jewellery. Indian culture holds gold in the highest regard among all metals. No significant event goes by without the use of this metal, whether it be a festival, wedding, or birthday.

22K & 24K Gold Rates Per Gram in Tirunelveli

24K
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GramYesterdayToday
1gm
5,749.00
0.00 (0.00%)
5,749.00
0.00 (0.00%)
8gm
45,992.00
0.00 (0.00%)
45,992.00
0.00 (0.00%)
10gm
57,490.00
0.00 (0.00%)
57,490.00
0.00 (0.00%)
100gm
5,74,900.00
0.00 (0.00%)
5,74,900.00
0.00 (0.00%)

Factors affecting the gold prices in Tirunelveli

The price of gold in Tirunelveli is affected by a variety of variables. Here are a few examples: 

  • Inflation

As inflation grows, the value of money decreases. As a result, more individuals hold gold as money. Gold can be used as a hedge against inflationary situations when it persists at high levels over an extended period. As a result, gold prices gradually increase during an inflationary time.

  • Rupee-dollar equation

The rupee-dollar equation does not affect world gold prices, but it does affect Indian gold rates. Given that most gold is imported, prices are likely to increase in rupee terms if the rupee declines versus the dollar.

  • Government Reserves

The Reserve Bank of India (as well as other central banks of most countries) holds gold reserves along with currency, so when RBI purchases more gold than it sells, the gold price rises.

  • Geopolitical influences and uncertain implications of the future for gold prices

Investor demand for gold rises during political, geopolitical unrest, or general economic downturn because gold is a reasonably safe investment for investors. Gold is a perfect asset to invest money in such periods because other asset classes typically see a decline in value, which is not the case with gold.

Historical gold rates in Tirunelveli in last 10 days

1 gram
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Day24K Gold22K Gold
04 Feb 2023
5,749.00
0.00 (0.00%)
5,475.00
0.00 (0.00%)
03 Feb 2023
5,749.00
0.00 (0.00%)
5,475.00
0.00 (0.00%)
02 Feb 2023
5,749.00
121.00 (2.15%)
5,475.00
115.00 (2.15%)
01 Feb 2023
5,628.00
23.00 (0.42%)
5,360.00
22.00 (0.42%)
31 Jan 2023
5,605.00
-13.00 (-0.23%)
5,338.00
-12.00 (-0.22%)
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%)

Comparison Between 24K and 22K Gold

In India, people buy gold either as jewellery or as an investment. Gold is available in different karats, 24K and 22K. What is the difference between those two? Read below to find out the differences.

22-karat Gold: The composition of 22-karat gold is 22 parts gold and 2 parts other metals/alloys, such as copper, silver, nickel, and zinc. Because it contains 91.67% pure gold, 22-karat gold is also known as 916 gold. This gold has a harder texture than 24k gold due to its metal composition, which makes it more durable.

24-karat Gold: 24 Karat gold is 99.9% pure gold. It is essential to note that gold does not get any higher than 24k. Despite being the purest form of gold, the purest form of gold does not possess 100% purity. At room temperature, 100% gold is too delicate to maintain its form or shape. Therefore, 99.99% purity is obtained by extracting and processing the ore.

Every day, the price of 24-karat gold varies in India. Since 24K gold is the purest type, it costs more than 22K or 18K gold. As a result, 24K is best used as an investment rather than for jewellery production because it is too delicate.

Weekly & monthly gold rate in Tirunelveli
1 gram
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7 Days
30 Days
3 Months
6 Months
24K GOLD
22K GOLD

Gold Vs Other Investment Options

There are several ways in which you can invest in gold in Tirunelveli. Let's look at some of them:

  • Gold Jewellery
    Gold jewellery is a popular investment in Tirunelveli. There are, however, some challenges associated with owning gold jewellery. For instance, gold jewellery involves making charges, requires storage space, and is prone to theft.
  • Gold Coins
    Tirunelveli also has a good number of gold sellers, whether they are banks, jewellers, or online dealers. Most of these coins have a karat purity of 24K, are packaged in tamper-proof packaging, and are anti-counterfeit.
  • Gold ETFs
    Units that represent actual gold are called gold exchange-traded funds (ETFs). They can be purchased and sold just like shares on stock exchanges.
  • Gold Mutual Funds
    A gold mutual fund is a type of mutual fund that invests in stocks and ETFs of companies engaged in producing, mining, and marketing gold products.

Trend of Gold rates in Tirunelveli

1 gram
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Day24K Gold22K Gold
01 February 202356285360
05 February 202300
Highest57495475
Lowest56285360

How is the Purity of Gold Evaluated in Tirunelveli?

Gold is valuable only when it is pure. There are instances where customers are duped with impure gold. Hence, confirming the purity of gold is crucial.

The Bureau of Indian Standards (BIS) is a government authority that certifies the purity of gold. According to BIS, the following factors are to be kept in mind when buying gold.

  1. BIS Mark

    Jewellery hallmarked by BIS will have a BIS logo on it. Remember that since BIS is the only authorized laboratory in India for gold certification.

  2. Karat

    Karat is a scale to gauge gold's purity. While 24 karat gold is the purest, it is too soft for use. Hence, other metals are added and the gold available in the market is often 22 Karat.

  3. Jewellers Identification Mark

    The gold you buy should also carry an identification mark by an authorized jeweller. This helps ensure the gold is from a credible source. The mark can also be helpful in the case of disputes.

FAQs of Gold price in Tirunelveli

Is gold a better investment option than fixed deposit (FD)?

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What is the impact of GST on the gold Rate in Tirunelveli?

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How do I invest in gold?

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One tola is equal to how many grams of gold?

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