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Gold Rate in Coimbatore (26th March 2017)

Coimbatore has always had a fascination for gold. Individuals from the city have always had an eye for the finest range of gold jewelery from the very ancient times.

Today 22 Carat Gold Price Per Gram in Coimbatore (INR)

Gram 22 Carat Gold
Today
22 Carat Gold
Yesterday
Daily Price Change
1 gram ₹ 2,771.80 ₹ 2,779.60 ₹ -7.80
8 gram ₹ 22,174.40 ₹ 22,236.80 ₹ -62.40
10 gram ₹ 27,718 ₹ 27,796 ₹ -78
100 gram ₹ 2,77,180 ₹ 2,77,960 ₹ -780

Today 24 Carat Gold Rate Per Gram in Coimbatore (INR)

Gram 24 Carat Gold
Today
24 Carat Gold
Yesterday
Daily Price Change
1 gram ₹ 2,957.30 ₹ 2,965.20 ₹ -7.90
8 gram ₹ 23,658.40 ₹ 23,721.60 ₹ -63.20
10 gram ₹ 29,573 ₹ 29,652 ₹ -79
100 gram ₹ 2,95,730 ₹ 2,96,520 ₹ -790

Gold Rate in Coimbatore for Last 10 Days (10 g)

Date 22 Carat 24 Carat
Mar 25, 2017 ₹ 27,718 ₹ 29,573
Mar 24, 2017 ₹ 27,796 ₹ 29,652
Mar 23, 2017 ₹ 27,836 ₹ 29,694
Mar 22, 2017 ₹ 27,418 ₹ 29,273
Mar 21, 2017 ₹ 30,110 ₹ 28,111
Mar 18, 2017 ₹ 27,463 ₹ 29,362
Mar 17, 2017 ₹ 27,408 ₹ 29,263
Mar 16, 2017 ₹ 27,158 ₹ 29,013
Mar 14, 2017 ₹ 27,548 ₹ 29,403
Mar 11, 2017 ₹ 27,548 ₹ 29,403

Weekly & Monthly Graph of Gold Price in Coimbatore

Historical Price of Gold Rate in Coimbatore

  • Gold Price Movement in Coimbatore, February 2017
  • Gold Rates 22 Carat 24 Carat
    1 st February rate Rs.28,042 Rs.29,904
    28th February rate Rs.28,506 Rs.30,362
    Highest rate in February Rs.28,625 on February 17 Rs.30,532 on February 17
    Lowest rate in February Rs.27,948 on February 1 Rs.29,804 on February 1
    Over all performance Rising Rising
    % Change +1.65% +1.53%
  • Gold Price Movement in Coimbatore, January 2017
  • Gold Price Movement in Coimbatore, December 2016
  • Gold Price Movement in Coimbatore, November 2016
  • Gold Price Movement in Coimbatore, October 2016

How Gold Rates in Coimbatore are Determined?

22 Carat gold rates in Coimbatore moves higher or based on a whole lot of factors. The most important of these is international gold prices. When these prices move higher it is almost a certainty that gold prices in Coimbatore would also move higher. Interestingly, gold prices in Tamil Nadu would be the same in all major cities like Madurai, Coimbatore and Chennai. Of course, while rates would be the same the making charges would defer from jeweller to Jeweller.

Where to Buy Gold in Coimbatore?

There are many places where you can buy gold from. You can buy 22 karat gold in Coimbatore from Lalitha jewellery, Kalyan Jewellers or Joy Alukkas as well. Karpagam Jewellers is another renowned chain from where you can make your purchases. The company's showroom is located at Cross Cut Road. Most of the jewellers in Coimbatore boast of the latest in design and patters.

If you are looking at other options, you can also ask these jewellers if they have the various gold savings scheme. Under these schemes you can buy in a lumpum by saving every month. Of course, you need to check with the individual jewellers on the design and the patterns at their disposal. One important factor is that you should not forget to check the live 22 carats price of gold in Coimbatore.

Who fixes gold price in Coimbatore?

There will be gold associations in every city and Coimbatore is also having a gold association who fix gold price in Coimbatore. The factors that help the association to fix the gold price in coimbatore everyday is the MCX Futures and local levies and other duties added to that prices. Generally , international gold rates move in tandem to reflect gold futures prices. Local levies and duties and transportation costs, alter the price and it is diffrent from city to city. So for every city there is a diffrent association to fix the price of gold everyday.

What you will lose if you dont take a receipt for your gold jewellery?

There are few Jewellery who insists not take reciept to skip tax and also gives you discounts on not taking receipt, which make you suffer while selling it to any jewellery or any third party. In fact, they may insist on you showing a reciept. As the reciept is one of the thing which reflects genuinity of jewellery you are selling.

These days in reputed showrooms its becoming mandatory to show the reciept while selling or else they will not be buying the same. So it is better to take a reciept or you may end up selling your jewellery in cheaper rate than the gold rate in Coimbatore.

Few factors affecting gold price in Coimbatore?

Price of gold in Coimbatore and India changes with the change in economic situation. If you are interested in investing your money in gold there are few influential situations which you should be looking at they are

1. U.S. Dollar

Gold rates fluctuates with the fluctuations of dollar rate because Price of Gold is inversely proportional to Strength of the US Dollar. As dollar goes up gold price will be down and vice versa. Change in strength of other exchange will also affects but the influence of dollar is very high compared to which other currencies are not considerable.

2. Instability of Reserve Bank

Stability of Reserve Bank policies also play a major role which affects the price of gold in Coimbatore and India. So an individual who invested in gold will not bother about Bank disappointments and unpredictable monetary strategies such as demonetization because gold is safe refuge in such conditions. Paper cash framework encounters vulnerability, but commodities such as gold don't. So, during such everyone will chase gold so price increases as well.
3. Financing costs

Gold prices reflect increments and decreases in loan fees. The gold cost may increase again on the grounds as loan fees diminish. For individuals offering gold to free up assets due to which gold costs may mellow. There is a lower opportunity cost to hold on to gold when contrasted with different speculations. With prominent appreciation for gold loan costs liken to be Low.

Taxes on gold in Coimbatore

Generally individual feels that taxes are a burden and it is human tendency to avoid payment of tax or at least minimizing the tax liability. But its very important to pay tax because of tax we are paying which include Health care through Government hospitals, Education,  The Government also provides subsidy on cooking gas. Of course the major expenditure of Government spends National Defence, Infrastructure Developments etc. So follow and develop tax culture and in gold There are majorly two taxes wealth tax and capital gains tax.

Wealth tax

As gold rates changes day to day, it is better to check the price of gold in Coimbatore everyday on goodreturns.in and if that value of gold you are having is more than Rs 30 lakhs, there is a wealth tax that you have to pay every year. Until the price is less than 30 Lakhs wealth tax is not applicable.

Capital gains tax

Capital gains tax is applicable if you sell gold at a profit. There are two types of capital gain tax on gold that are applicable: the first is short term capital gains tax on gold which means you have held gold for less than three years. Other is a long term capital gains tax which is defined as more than 3 years.

For the short term you have to pay as per your tax slab and  for long term 20 per cent, plus indexation. There is also a capital gains tax that is applicable on Gold ETFs as well same as on physical gold.

How to check the purity of gold in Coimbatore?

There were several methods to check the purity of gold and the purity of gold determined by the hallmark it is the best and the easiest way to look for purity of gold Most jewellery firms in the country sell hallmarked jewellery. Always make sure that you are buying gold from a reputed jeweler and to check The various marks on the gold you are buying, including the purity etc.
For investors, please do not buy gold jewellery. It is better to go for gold coins or gold bars, as they will get better value. Far better option would be to invest in gold ETFs. Because in ETF's gold will be in the electonic form which is the safer better method to buy for investors. Buying or selling gold in ETF is just clicks away.

The most important thing to remember is that you should check the gold prices in Coimbatore before you invest because day to day gold rates will be increasing and decreasing because of few factors as we discussed before so its better to check gold rates in Coimbatore. If you find that gold rates have gone up recently, you should avoid investing. It is a good idea to buy gold when prices are falling.


Purity of gold in Coimbatore

The purity of gold is defined in karats. The higher the karat, the purer the gold. The purest or finest is 24 karats. When alloyed with other metals such as silver, copper, palladium and zinc. it is called 22k, 18k, 14k and 10 karat and 9 karats depending upon the percentage of gold mixed with the other metal.

22 Karats

When 91.70 percent of gold is alloyed with three metals 5 per cent of silver, 2 per cent of copper and 1.30 percent of zinc then it us called as 22 karats gold.

18 Karats

When 75 per cent of gold is alloyed with 15 per cent silver and 10 per cent copper then its is called 18 karats. In 18 karats zinc is not alloyed like zinc is alloyed in 22 karats.

14 Karats

When 58.30 per cent of gold is alloyed with 30 per cent silver and 11.70 per cent of copper. then it is called 14 karats gold.

10 karats

When 41.7 per cent of gold is mixed with gold 52 per cent silver 6.3 per cent copper then it is called 10 karats gold.

9 Karats

when 37.5 per cent of gold is mixed with 42.5 per cent silver and 20 per cent copper is used then its called 9 Karats gold.
Palladium is mixed in making of white gold. excluding 22k zinc is alloyed with any other.

Taking gold loan in coimbatore

There are a lot of ways to make money from gold. Among them, instant, safe and secured one is taking a gold loan. You can avail a loan from banks as well as there are many popular nonbanking financial gold loan companies from where you can avail a gold loan from.

Out of all the gold loan companies, there are two of these which are popular gold loan companies that you can approach is the Mannapuram Finance and Muthoot Finance which offer you good interest rates and other schemes due to which these companies are preferred companies to take a gold loan from in Coimbatore. but you must compare the same with bank gold loans before you avail a loan.

Tough there will be no big variation in interest rates and it is difficult to decide which would be better, By comparing only interest rates. Compare the processing charges, loan tenure prepayment charges as well on these loans. In the case of gold loan companies the process is very simple and if you have all your documents, then you can get a loan very easily. Generally, the time it takes for processing is few hours and the amounts will be released instantly. It is important to check for gold price in Coimbatore before availing for a loan.

In Coimbatore which is best investment option Gold or mutual funds?

In Coimbatore, there are a number of individual investors who like to have various investment options. But a lot investors get confused when it comes to gold or mutual funds. To understand and decide on this one needs to understand how both the things work.

Both mutual funds and gold are two different things. Mutual funds are subjected to market risk and gold will not earn any profits if the economic condition is stable.

So to understand both the investment options first we take mutual funds.

A mutual fund is fund plan where a company will receive money from a number of investors and invest it in different stocks, bonds, and securities. The company will invest as per the plan, Like in mutual funds their will be options and plans where the investor can select from a set of the portfolio to which one they want to invest in.

There will be fund managers who will be managing these funds. Few Individuals a mutual fund plan by seeing a portfolio and few select a plan depending on the fund manager. There are many options in mutal funds such as equity mutual funds, equity linked saving scheme (ELSS), liquid funds, index funds, balance funds, debt funds etc.

Gold
Investment in Gold is simple compared to investing in mutual funds. By following parameters such as market fluctuations gold newsa and etc. one can get a rough idea how the gold rates in Coimbatore will move and can invest accordingly.

It is advisable to investor to invest various options tha holding on to a single option. But is upto the investor how he is gonna invest in.

Gold ETF's in Coimbatore

Coimbatore stands second regarding IT companies.There are individual investors from Coimbatore who like to invest in gold. They are not subjected particularly to one form. They invest both in electronic form as well as the physical form of gold.

We all know what is the physical form of gold. Physical gold means gold coins, bars or jewelry whereas in electronic gold there are multiple options for investors in which one is ETF.
ETF's means exchange traded fund. ETF's will have a lot of advantages which when compared to physical gold such as easy liquidity and easy to trade. Comparatively ETF's are the secured and easy method than buying physical gold.

One thing to understand is ETF's is for investors not for personal consumption. For personal consumption, one has to go for physical as one cannot convert their gold to physical form. So ETF's are only preferrable if you are buying gold only for trading.

Either physical or electronic form gold is a perfect hedge for Inflation. So while making a trading portfolio all, we need to keep in mind to keep all the elements or shares in such a way that if one falls, the other has to support. So for that, it is very important to keep some gold in the portfolio, and it is also important to live gold rates in Coimbatore everyday.

How are gold prices fixed in Coimbatore?

If you notice gold prices in all the cities will not be same, it differs from city to city. In some cities, gold prices will be high and in some cities, gold rates will cheaper comparatively. There are multiple reasons for that few of them are here.

Gold prices depend on international prices

Gold price in Coimbatore depends on international prices. The gold price n Coimbatore moves with the international prices. If the International prices rise then the gold price in Coimbatore also rises. If they got lower, then the prices also get lower. The reason behind this is In India the production and consumption are not balanced. So our government exports gold from other countries. The process will be like they government and private banks employ some agencies to bring in the gold. Then the gold will be passed to dealers.

Bullion Association

Bullion Association first fixes the price of gold for overall India. Then the local gold jeweler associations in a fix the jewelry prices including few charges such as transportation, etc. The bullion association is in Mumbai, and it is called IBJA (Indian Bullion Jewellers Association). This association consists of big dealers, and they decide prices by seeing the futures prices and other few parameters.

Exchange Value

Currency Exchange Value plays an important role in determining the gold rates in Coimbatore. As we stated above, we import gold and need to pay for it regarding dollars. In case if the rupee value moves lower we have to pay more for gold as much as we import we will be losing that much foreign reserves.

Latest Updates on Coimbatore Gold Rates

Gold rates Coimbatore

It was another day where investors would like to forget about gold rates in Coimbatore as price of the precious metal was absolutely flat. Gold for 24 karats was trading in the city at Rs 28,700 per 10 grams, while rates for 22 karats also fell. It is unlikely that we will see a swift recovery in prices of the precious metal in Coimbatore unless there is a surge in demand. If you are looking to buy, purchase in small quantities. This is because you would ultimately make money in gold in the more long term. If you are a short term investor, just stay away from the precious metal.

22 December 2016

Disclaimer: The gold rates are sourced from local jewellers in the city. There maybe variance in rates and prices. GoodReturns.in has made every effort to ensure accuracy of information provided; however, Greynium Information Technologies Pvt Ltd, its subsidiaries and associates do not guarantee such accuracy. The rates are for informational purposes only. It is not a solicitation to buy, sell in precious gold. Greynium Information Technologies Pvt Ltd, its subsidiaries, associates do not accept culpability for losses and/or damages arising based on gold information provided.

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