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Gold Rate in Coimbatore (5th December 2022)

Dec 5, 2022
5,016 /Gram(22ct)

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 22K Today 22K Yesterday Price Change
1 gram 5,016 5,016 0
8 gram 40,128 40,128 0
10 gram 50,160 50,160 0
100 gram 5,01,600 5,01,600 0

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

Gram 24K Today 24K Yesterday Price Change
1 gram 5,472 5,472 0
8 gram 43,776 43,776 0
10 gram 54,720 54,720 0
100 gram 5,47,200 5,47,200 0

* The above gold rates are indicative and do not include GST, TCS and other levies. For the exact rates contact your local jeweller.

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

Date 22K 24K
Dec 4, 2022 50,160 0 54,720 0
Dec 3, 2022 50,160 -40 54,720 -40
Dec 2, 2022 50,200 650 54,760 710
Dec 1, 2022 49,550 190 54,050 200
Nov 30, 2022 49,360 200 53,850 220
Nov 29, 2022 49,160 -310 53,630 -340
Nov 28, 2022 49,470 210 53,970 230
Nov 27, 2022 49,260 10 53,740 10
Nov 26, 2022 49,250 -100 53,730 -110
Nov 25, 2022 49,350 40 53,840 60

Weekly & Monthly Graph of Gold Price in Coimbatore

Historical Price of Gold Rate in Coimbatore

  • Gold Price Movement in Coimbatore, November 2022
  • Gold Rates 22K 24K
    1 st November rate Rs.47,300 Rs.51,600
    30th November rate Rs.49,360 Rs.53,850
    Highest rate in November Rs.49,700 on November 16 Rs.54,210 on November 16
    Lowest rate in November Rs.47,150 on November 3 Rs.51,440 on November 3
    Over all performance Rising Rising
    % Change +4.36% +4.36%
  • Gold Price Movement in Coimbatore, October 2022
  • Gold Price Movement in Coimbatore, September 2022
  • Gold Price Movement in Coimbatore, August 2022
  • Gold Price Movement in Coimbatore, July 2022
  • Gold Price Movement in Coimbatore, June 2022
  • Gold Price Movement in Coimbatore, May 2022

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

The Yellow Metal Prices in Coimbatore Slips

The gold rate slipped slightly in Coimbatore on signals from gold markets as the dollar edged closer to Covid risks in China.

The gold prices in Coimbatore were recorded at Rs.49,210/- for 10 grams of 22 carats and Rs.53,670/- for 10 grams of 24 carats.

On the global platform, spot gold was traded at $1,758 per ounce and US gold futures at $1,750 per ounce.

Gold and the US currency share an inverse relationship, falling in value will cause the dollar to soar and vice versa.

The land of the dragon reported new record cases of a new local pandemic case for the fifth consecutive day. Cities like Chongquing and Guangzhou are struggling to curb the outbreak of cases as hundreds of infections have been recorded in several cities across the country.

Hundreds of protesters and police clashed in Shanghai yesterday as China imposed strict restrictions on Covid-19 and spread in several cities following the deadly blaze in the far west of the country.

The situation helped the metal lose its luster, helping the dollar soar. Investors are waiting to hear Federal Reserve Chairman Jerome Powell's speech on the U.S. economy and labor market on Wednesday to learn more about the outlook for monetary policy.

28 November 2022
Gold Prices Drops in Coimbatore

Gold prices fell in Coimbatore despite rising gold markets as fears of rate hikes loom amid a weak dollar. Gold rates in Coimbatore were seen at Rs.46,850/- for 10 grams of 22-karat gold and Rs.51,110/- for 10 grams of 24-karat gold.

In the international forum, spot gold was trading at $1,631 an ounce and US gold futures were trading at $1,637 an ounce.

A weaker US dollar and stock market losses provide little support for the ornamental metal. Still, rising yields in the main bond market and the prospect of further monetary policy tightening by many central banks around the world are weighing on metals rates.

The dollar index, the measure of the US dollar against the basket of rival currencies, fell 0.1% and made gold cheaper for other currency holders.

The safe haven bet is often seen as a hedge against inflation and currency depreciation. Rising interest rates in America have increased the opportunity cost of holding the zero-return metal.

The Central Bank of the United States is ready to announce another interest rate hike and this time it is very likely to be 75 basis points. In September, the higher than expected increase in consumer prices in the United States could encourage the Fed to continue its rate hike.

20 October 2022
The Gold Prices in Coimbatore Edges High

Gold prices edged higher in Coimbatore despite steady trading in gold markets as the Fed interest rate hike looms. Gold rates in Coimbatore were seen trading at Rs.47,360/- for 10 grams of 22-karat gold and Rs.51,660/- for 10 grams of 24-karat gold.

On the global platform, spot gold was trading at $1,716 per ounce and US gold futures at $1,722 per ounce.

Skyrocketing inflation rates have forced the Fed to take an aggressive stance on interest rate hikes. Higher interest rates have increased the opportunity cost of holding non-performing bullion, bolstering dollar value.

In August, US employers hired more workers than expected, but moderate wage growth and a rise in the unemployment rate to 3.7% suggest the labour market will begin to ease.

Usually, higher interest rates increase the opportunity cost of holding the waste metal and push the dollar higher.

The value of the dollar has strengthened in recent weeks due to a rise in interest rates, diminishing the attractiveness of the precious metal. Gold and the dollar share an inverse relationship, the falling US currency will encourage the metal to soar and vice versa.

5 September 2022
The Gold Prices in Coimbatore Rises

The price of gold rose in Coimbatore despite falling in gold markets as the dollar strengthened ahead of the Fed's monetary policy meeting. Gold prices in Coimbatore were recorded at Rs 47,200 for 10 grams of 22 carats and Rs 51,490 for 10 grams of 24 carats.

In the global scenario, spot gold was trading at $1,733.00 per ounce and US gold futures at $1,718.70 per ounce.

On Wednesday, the US central bank will wrap up its two-day meeting and the market and investors are pricing in a 75 basis point hike to combat sky-high inflation rates.

Usually, gold acts as a hedge against inflation, but rising interest rates have increased the opportunity cost of holding bullion.

Last week, the European Central Bank joined its list of global peers in its fight against inflation by raising interest rates by 50 basis points. European Central Bank President Christine Lagarde said in an interview that interest rates would be raised until inflation returned to its 2% target. Last month, the US Federal Reserve raised interest rates by 75 basis points, its highest since 1991.

Investors and markets are anticipating another rate hike by the Fed of 75 basis points for the second straight time in July ahead of its monetary policy meeting on July 26-27.

25 July 2022
The Gold Rates in Coimbatore Falls

Gold prices fell in Coimbatore although they are trapped in a narrow range in overseas markets as central bank meetings loom.

Gold rates in Coimbatore were seen at Rs 46,580 for 10 grams of 22 carats and Rs 50,810 for 10 grams of 24 carats.

On the global platform, spot gold was valued at $1,706 per ounce and US gold futures at $1,705.10 per ounce.

Prices for precious metal fell during today's trading session due to a surge in dollar value. Gold and the dollar share an inverse relationship, the rising dollar will diminish the attractiveness and value of the safe-haven asset and vice versa. With gold prices stuck in a tight range, investors are refraining from making big bets ahead of major central bank meetings.

The value of the dollar rose 0.1% against a host of rival currencies after falling in the past two trading sessions. The decline in the value of the dollar will make bullion at the price of the greenback more expensive for holders of currencies from other countries.

Rising expectations of an imminent rate hike by the US Federal Reserve gave the yellow metal some relief. Analysts expect a possible 100 basis point rate hike at the Fed's next policy meeting.

19 July 2022
The Yellow Metal Prices in Coimbatore Rises

Gold prices edged higher in Coimbatore despite falling in gold markets as inflation data raised concerns over rate hikes. Gold prices in Coimbatore were trading at Rs.46,760/- for 10 grams of 22 karats and Rs.51,010/- for 10 grams of 24 karats.

On the global platform, spot gold was trading at $1,736 per ounce and US gold futures at $1,726.60 per ounce.

Soaring inflation rates in the United States of America forced the US Fed to take an aggressive stance by raising interest rates by 75 basis points in June.

Annual consumer prices in the United States rose 9.1% in June, the largest increase in more than four decades. The U.S. Federal Reserve is poised to raise interest rates to combat skyrocketing inflation rates that have overstated the rate hike by 100 basis points at its next policy meeting scheduled for July 26-27.

Gold and the dollar share an inverse relationship, the rise in the value of the dollar has caused the price of the yellow metal to fall and vice versa.

Benchmark 10-year US Treasury yields jumped, weighing on appetite for zero-yielding gold.

14 July 2022
The Gold Prices in Coimbatore Falls

Gold prices fell slightly in Coimbatore on signals from gold markets amid a robust US dollar.

In the Indian market, the gold prices in Coimbatore were trading at Rs.46,700/- for 10 grams of 22 carats and Rs.50,950/- for 10 grams of 24 carats.

In the global scenario, spot gold was trading at $1,733 per ounce and US gold futures at $1,734.20 per ounce.

Falling inflation rates and the prospect of an imminent U.S. Fed interest rate hike led the dollar to climb and trade at a 20-year high, diminishing the appeal of the precious metal .

Last month, the Fed announced a 75 basis point interest rate hike to combat soaring inflation rates. This month again, the rise in interest rates should be the same basis point. The aggressive stance taken by many central banks around the world has helped bring down inflation rates by a considerable amount.

The growing strength of the US currency will make gold at the price of the greenback more expensive for currency holders in other countries.

Data for the US Consumer Price Index, a key measure of inflation, is due out tomorrow. The data is expected to show prices rose 8.8% in June from a year earlier.

On the other hand, higher interest rates increase the opportunity cost of holding bullion, which pays no interest rate.

12 July 2022
The Yellow Metal Prices in Coimbatore Rises Slightly

Gold prices rose slightly in Coimbatore despite losing their luster in the gold markets. Gold prices in Coimbatore traded at Rs 46,890 for 10 grams of 22 carats and Rs 51,150 for 10 grams of 24 carats.

In international markets, spot gold was valued at $1,744 per ounce and US gold futures at $1,740 per ounce.

The metal slid for a fourth straight week yesterday as it was hit by the rising dollar and growing bets for the sharp rise in interest rates gained traction after positive US jobs report data.

The precious metal has failed to attract safe-haven flows of late despite growing recession risks as investors have opted for the dollar, which has soared to trade at two-decade highs.

Analysts note that the jobs data tumbled the value of gold, already struggling after such a robust rally in the dollar. However, there is bargain hunting in the precious metal here.

In June, job growth in the United States exceeded expectations and the unemployment rate remained near pre-pandemic lows. The data signaled continued strength in the labor market, giving the U.S. central bank much-needed ammunition to undertake another 75 basis point hike in July.

9 July 2022
The Gold Rates in Coimbatore Slips

Gold prices traded flat in Coimbatore, following trends in overseas markets as the dollar strengthens.

Gold prices in Coimbatore traded at Rs 46,830 for 10 grams of 22 carats and Rs 51,090 for 10 grams of 24 carats.

In the international scenario, spot gold was trading at $1,822.00 per ounce and US gold futures at $1,819.70 per ounce.

Gold and the dollar share an inverse relationship, the robust dollar will cap the rise in precious metal prices and vice versa.

Gold, the safe-haven asset, is set to record its worst quarter since the start of 2021. The strong dollar has kept investors from investing in precious metals. Bullion's outlook has been clouded by major central banks as they take aggressive steps to rein in rising inflation rates.

Several central banks around the world have raised interest rates in an attempt to alleviate the problem of rising inflation. The US Fed raised interest rates by a record 75 basis points for the first time since 1994.

The US currency has hovered near two-decade highs and is expected to post its best quarter in more than five years. This will make the ornamental metal more expensive for buyers who hold other currencies.

Higher bond yields and interest rate hikes by central banks to rein in inflation rates and increase the opportunity cost of holding bullion, which yields no return.

30 June 2022
Gold Prices Are Unchanged in Coimbatore,

Gold prices are stable in Coimbatore, following trends in gold markets, with traders unwilling to engage in either direction in the absence of catalysts moving in the market. Gold rates in Coimbatore were seen at Rs.47,700/- for 10 grams of 22 karats and Rs.52,030/- for 10 grams of 24 karats.

In the international scenario, spot gold was estimated at $1,824.00 per ounce and US gold futures at $1,824.50 per ounce.

The decision by four of the G7 countries - the United Kingdom, the United States of America, Canada and Japan to ban the import of gold from Russia is seen as largely symbolic in gold markets. The G7 countries are currently in talks in Germany to put more pressure on Russia in the context of sanctions against Moscow for its invasion of Ukraine.

Yesterday, the precious metal rose in Asian trading on the news, before it quickly lost momentum to end the session lower.

Stock markets in Asia fell slightly in the first trading session as investors took inspiration from Wall Street's volatile session overnight, while fuel prices surged after last night's rout.

Meanwhile, the value of the Rupee hit record highs today against the US Dollar after rising crude prices raised fears of sustained inflation.

28 June 2022

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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