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Gold Rate in Tirupur (4th February 2023)

Feb 4, 2023
5,415 /Gram(22ct) -90

Tirupur gold rates for 22 karats and 24 karats have hovered in a tight range for the last many months. However, demand for gold continues to be robust for most of these cities as investors continue to flock to the precious metal as a safe haven asset. 916 gold rates in Tirupur also called 22 karats gold have been holding steady, in sync wih global markets. 

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

Gram 22K Today 22K Yesterday Price Change
1 gram 5,415 5,505 -90
8 gram 43,320 44,040 -720
10 gram 54,150 55,050 -900
100 gram 5,41,500 5,50,500 -9,000

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

Gram 24K Today 24K Yesterday Price Change
1 gram 5,907 6,005 -98
8 gram 47,256 48,040 -784
10 gram 59,070 60,050 -980
100 gram 5,90,700 6,00,500 -9,800

* 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 Tirupur for Last 10 Days (10 g)

Date 22K 24K
Feb 3, 2023 54,150 -900 59,070 -980
Feb 2, 2023 55,050 900 60,050 980
Feb 1, 2023 54,150 770 59,070 840
Jan 31, 2023 53,380 -120 58,230 -140
Jan 30, 2023 53,500 0 58,370 0
Jan 29, 2023 53,500 0 58,370 0
Jan 28, 2023 53,500 50 58,370 60
Jan 27, 2023 53,450 -350 58,310 -380
Jan 26, 2023 53,800 350 58,690 380
Jan 25, 2023 53,450 -100 58,310 -110

Compare Average Gold Rate in Tirupur for 22K & 24K (10gm)

Term 22K 24K
10 Days 53,793 58,684
20 Days 53,472 58,332
30 Days 53,104 57,931
60 Days 51,978 56,701
90 Days 51,072 55,714
180 Days 49,274 53,742
1 Year 48,609 53,023
2 Years 46,646 50,882
3 Years 46,357 50,542
4 Years 43,634 47,564
5 Years 41,106 44,673
6 Years 39,078 42,472
7 Years 37,790 41,011

Weekly & Monthly Graph of Gold Price in Tirupur

Historical Price of Gold Rate in Tirupur

  • Gold Price Movement in Tirupur, January 2023
  • Gold Rates 22K 24K
    1 st January rate 51,300 55,960
    31st January rate 53,380 58,230
    Highest rate in January 53,800 on January 26 58,690 on January 26
    Lowest rate in January 51,300 on January 1 55,960 on January 1
    Over all performance Rising Rising
    % Change +4.05% +4.06%
  • Gold Price Movement in Tirupur, December 2022
  • Gold Price Movement in Tirupur, November 2022
  • Gold Price Movement in Tirupur, October 2022
  • Gold Price Movement in Tirupur, September 2022
  • Gold Price Movement in Tirupur, August 2022
  • Gold Price Movement in Tirupur, July 2022

Where to check 22 karats gold rates in Tirupur?

Gold rates are fixed by the local jewellers association and there are a number of places where you can check gold rates for 22 karats in Tirupur. Lalitha Thanga Maligai in Tirupur , GRT Jewellers and Tanishq also have their showrooms in Tirupur, where you can check gold rates and make enquiries. Generally, they do tend to offer you the rates over the phone. However, many jewellery shops may not let you know the gold rates for 22k and 24k on the phone and you may have to personally visit the showroom. Sometimes, you can check gold prices in Tirupur online as well, but, there is no assurance that the prices would be accurate. Apart from this, there is a trend of prices being very different at different jewellery shops in the city. This is also true for most of the cities in India. However, it makes sense for individuals to check rates before buying so as to end-up saving some money, especially if the purchases are rather large. Prices are revised 2-3 times a day.

What are the factors determining gold rates in Tirupur?

Gold rates for 22 karats or 916 per gram has been sluggish in Tirupur. This is largely on account of the various factors that influence gold prices in the city. The top most of these are global rates, which when move higher tend to impact gold rates in Tirupur in the same direction. Global rates have moved higher, which has also lifted gold prices in the city higher. Apart from this, we have seen a sharp depreciation in the rupee against the dollar from levels of Rs 79 to Rs 82, which has had its own impact on gold rates across all Indian cities. Gold rates in Tamil Nadu or all other cities like Tirupur, which also fall in the state are more or less the same. Apart from this rates are revised a few times every day, which makes it paramount to look at prices before buying them. Also, at higher rates it makes sense to sell into the same.

What is the difference between 22k and 24 k gold rates in Tirupur?

Tirupur in Tamil Nadu has different prices for 22 karats and 24 karats gold. In fact, over the last few years, we have seen prices for both the different variants of the precious metal go higher. For 22 karats the gold rates in Tirupur today are Rs 50,100, while for 24 karats, the Gold price in Tirupur today is Rs 54,000. This means that the price differential if Rs 4000 or so. The thing that investors should note is that you cannot buy gold jewellery with 24 karats finesse, as jewellery can never be made with 999 purity as gold is brittle. So, when you buy gold jewellery it is always of 916 purity or also of 18 karats gold. If you want gold jewellery, a little cheaper than you can go for 18k, which would have more alloy mixed with pure gold. However, when you sell, you would also get lower rates.

Should you buy 24 karats, 22 karats, 18 karats or 14 karats gold in Tirupur?

This really depends on your preference. If you are looking to buy gold jewellery, obviously you cannot buy 24 karats gold jewellery is never made in 24k purity. So, the next best choice is to look at 22 karats gold or even 18 karats and 14 karats. If you do not have a budget, a better idea would be to buy 22k gold, which is much more expensive than 18 karats or 14 karats gold. On the other hand, if you lack a budget, the best bet would be to look at 18k or 14 k gold jewellery. For investors who are particular on the purity, investors and consumers in Tirupur must buy gold coins and gold bars. These come with maximum purity and are also guaranteed. Some of these gold coins and bars are also sold by banks and popular jewellers in the country.

What is the capital gains tax that you need to pay when you sell gold in Tirupur?

There is a standard rates of capital gains that is applicable when you sell gold. If you are a buyer of gold and sold the same at a profit at a later date, than capital gains tax will be applicable. Let us say that you bought gold for Rs 5 lakhs, 10-years ago and now sell it for Rs 7.5 lakhs, than there would be a capital gains tax on the profit of Rs 2.5 lakhs. In this case the capital gains would be long-term in nature and would attract tax at 20%, along with indexation. On the other hand, if you have bought and sold gold within a span of three years than shot term capital gains would apply. It is important to note that capital gains is applicable on the profit made on the sale of gold and not on losses. The norms keep changing and buyers in Tirupur should keep themselves abreast of the latest guidelines.

Why to buy hallmarked gold in Tirupur?

Hallmarking of gold comes under the Bureau of Indian Standards. Hallmarking is nothing but the noting down of precious metal content in precious items like jewellery. Jewellers who wish to get a certificate for registration as hallmarked jewellery suppliers can do so from the Bureau of Indian Standards website. Those who are buying gold jewellery in Tirupati must look for hallmarked jewellers. When you buy hallmarked gold look for certain things like the Bureau of Indian Standars logo, the jewellers numbers, the grade on the jewellery that is noted. There would be many jewellers in Tirupur who would be selling hallmarked gold, given that Tirupur is a very large and popular city. As mentioned, always go for hallmarked gold jewellery and this would ensure that you do not lose money on poor quality gold. Also, when you are selling the precious metal, at least you are assured of the right value.

Is gold jewellery demand in Tirupur high?

With 22k gold for 1 gram in Tirupur touching nearly Rs 5000, gold demand is likely to remain subdued. According to news reports with the end of the year, we are seeing some demand arise and jewellers are now ready to offer some discount on making charges. This helps in reducing the cost of gold jewellery as it would help to control prices. In fact, there has been a slightly lower demand for gold in Tirupur as prices have remained high. Tirupur has been a city, which has seen good demand when prices are lower, however, when gold prices stay elevated, investors tend to stay away. We are not advocating any buying at the current levels, as prices have always fallen, after volatility.

Impact of rising interest rates on Gold prices in Tirupur

It's important for investors to understand that one of the topmost reasons for gold rates in Tirupur to climb higher or lower would be inflation, which in turn impacts gold rates across the globe. Once, global gold prices move higher, they automatically move higher in Tirupur as well. Globally, interest rates have been surging as commodity prices move higher. This has led to a deep impact on prices in India as well as 22k gold rates in Tirupur. From levels of Rs 47000 per 10 g for 916, we have seen gold prices in Tirupur systematically cross the Rs 50,000 mark for 10 grams. Even 24k gold rates in Tirupur have risen, as concerns of rising interest rates momentum eases. The US Fed has also indicated that interest rates may ease going forward, which is showing on gold rates. Going forward gold rates may stabilize at these levels.

Gold as an Asset

The value of gold, the yellow metal, has shown phenomenal growth over the last few years. For the first time, ornamental metal peaked at Rs 4,913 per gram in August 2020. In January 2023, it is trading at over Rs 5,000 per gram. The prices of different investments like equities and real estate declined in 2021 sharply and many investors have even diversified their investment patterns towards gold funds as a part of diversifying assets. The investment in the safe-haven bet is believed to have touched a record high of Rs 18,000 crores as of November 2022.

The metal is trending at above Rs 5,000 per gram as of January 2023 owing to its increased demand and its role as a safe-haven bet. Gold has turned out to be the best investment bet to invest in amidst the geopolitical and economic outcome, the gold prices in Tirupur are all set to shoot up further in the coming days.

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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