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Gold Rate in Vellore (4th February 2023)

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

Gold rates in Vellore have not seen a dramatic fall. In fact, stability has been one of the benefits of investing in gold. Vellore gold prices are by and large dictated by what happens in the global markets. Most of the cities in Tamil Nadu, including Vellore, Chennai, Coimbatore etc., display gold rates that are more or less similar. For long-term investors, it is a good opportunity to invest in the precious metal on every decline.

Today 22 Carat Gold Price Per Gram in Vellore (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 Vellore (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 Vellore 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 Vellore 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 Vellore

Historical Price of Gold Rate in Vellore

  • Gold Price Movement in Vellore, 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 Vellore, December 2022
  • Gold Price Movement in Vellore, November 2022
  • Gold Price Movement in Vellore, October 2022
  • Gold Price Movement in Vellore, September 2022
  • Gold Price Movement in Vellore, August 2022
  • Gold Price Movement in Vellore, July 2022

Checking for the purity of gold in Vellore?

There are many hallmarking and essaying centers in Vellore, where one can check the purity of gold. These days, jewellers in the larger cities also have testing machines, where it is easy to determine the purity of gold. For example, Siddhanath Hallmarking and Assaying Centre is one such place where you can get your testing done. We suggest investors not to buy gold, unless you are familiar with the jeweller shop or you thoroughly get the gold tested. It is a good idea to firm check for purity and than buy. Essentially, one must always check gold prices in Vellore and secondly also check for purity of the precious metal. The two most popular forms of gold in terms of purity are 22 karats and 24 karats. The latter is also called 999 purity, which is also the highest form of purity. Obviously, that makes it more expensive when compared to 22 karats gold.

How to check 22 karats gold rates in Vellore?

There are a number of ways in which you can check gold rates in Vellore. One of the most popular ways is to visit various website that disseminate information. The other is to make sure that you call local jewellers in Vellore and keep your self abreast of the latest prices. It is advisable particularly to check gold rates for 22 karats as this purity is used for making gold jewellery. There are many placed within Vellore where local jewellers update gold rates quickly and this can be used to take a decision on buying gold. When prices are high it is better investors refrain from making purchases. Buyers of the precious metal must understand that making large purchases when rates are higher could result in significant losses to investors. At the moment prices are high and one can buy on dips only.

How and where to check for gold rates in Vellore?

22 karats gold rates in Vellore can be checked in a number ways. One can check with the local goldsmith through a call. Please make sure, that you check the gold rates with a number of jewellers in Vellore as showroom prices could be different. Apart from this, 916 gold rates would differ from 999 purity gold, on account of the difference in purity. So, when checking make sure you specify to the jeweller whether it is gold for 22 karats or 24 karats. One gram of gold rates in Vellore for 22 karats would differ by about Rs 350 to Rs 450, when compared to 24 karats gold. In any case, if you are looking to buy the purest form of gold, which is 24 karats one needs to buy either in gold coins or gold bars. Even today, gold rates in various cities differ on account of a host of factors.

Where to buy 22 karats gold jewellery in Vellore?

There are a number of popular jewellery showrooms in Vellore where you can check for gold rates. Among these include GRT Jewellers, Tanishq, Joy Alukkas, Jos Alukkas, Kalyan Jewellery, Malabar Gold etc. You can choose to buy 916 gold in Vellore at some of these popular shops. Apart from this there are many small and medium sized jewellery shops as well, which can help buyers and consumers to make purchases of gold. It's important to check 1 gram gold prices for 22 karats and 24 karats in Vellore, before you decide to make your purchases. These days one is noticing that prices of gold have jumped sharply higher, which is why investors are not buying gold in large quantities. However, when prices are lower it would be advisable to buy in small quantities. Especially, investors should buy in small quantities as prices decline.

Why buying 22k gold in Vellore over a longer time is a good option?

It is a good idea to systematically buy into gold regularly, whether you are in Vellore or any other part of Tamil Nadu. Gold prices in all cities of Tamil Nadu have gradually gone-up over the years. In fact, those who have invested money through systematically buying into gold over the last few decades have made good money. Two factors have impacted gold rates in Vellore over the last few decades. The first is that global prices have rallied and the Indian rupee has depreciated against the US dollar. Both 24k gold and 22k gold have seen an upward trend in the city. We advocating buying gold in small quantities like 1 gram every month or whenever, it is possible to afford the same. It is always difficult to predict where prices would be headed and hence buying systematically tends to average.

Should you buy white gold or regular gold?

To begin with we must understand that the rates for white gold and regular gold are the same in Vellore. White gold costs the same as regular gold and it is only the colour that differs. Generally speaking, white gold is made by adding some other alloys like Titanium and Nickel, which are added to gold of 24 karats. This leads to a change in colour of regular gold to white, whereas the finesse or the purity of gold remains unchanged. This means, if you wish to sell white gold, the rates would be the same as that of regular gold. One also has other types of gold like rise gold, where copper and silver alloys create the pinkish tone of rose gold. For pure gold of 24 karats this is not possible and hence we cannot have rose gold or white gold. Buying gold of certain colour is up to the choice of the buyer, though the quality and purity remain intact.

Understanding wastage charges by jewellers in Vellore

One of the things that buyers of gold in Vellore should understand is the wastage charges that are applicable on gold jewellery. The goldsmith when he creates handmade gold jewellery has to melt, cut, and shape them into pieces, after which he has to join them together. Through this chain there is a an amount of gold that is wasted. Jewellery that is manufactured by machines, like chains and bangles, predominantly used for everyday wear leads to lesser wastage. Some hand, studded jewellery that is crafted through the casting method tends to result in a higher wastage of gold. Sometimes the loss of gold through these processes results in charges that are levied by the jewellers as wastage charges. Remember, these are not making charges and making charges differ from wastage charges. We will explain the process of making charges somewhere later in the article.

Why you should buy Gold ETFs in Vellore?

If you are looking to buy 1 gram of physical gold in Vellore for 22 karats or 24 karats, we would advocate avoiding the same and look to buy Gold ETFs. So, why you should buy Gold ETFs. To begin with those looking to invest in Vellore or any other City of Tamil Nadu, they should know that Gold ETFs are much cheaper and track gold rates, so you do not lose out on gold. They are cheaper as there is no GST charges like hat on gold Jewellery, there is no making charges, wastage charges. Gold Etfs are in the electronic form and track gold prices. Apart from this, there are no locker charges and also they are safe. So, if you are looking to buy 10 grams of physical gold, the actual cost could be much higher when compared to Gold ETFs.

How many times does prices of Gold change in Vellore?

It is hard to define the exact time of changes for Gold rates in Vellore, but, they do change 2-3 times a day. As soon as the price is disseminated from the associations, the prices are changed by the jewellers in the city of Vellore. It therefore sometimes becomes necessary to change check gold prices in Vellore everyday before a decision is taken on buying into the precious metal. Sometimes, there is also a possibility that investors have already bought and prices have declined since then. In such cases what investors should do is buy at lower levels, so that the costs are averaged out. Vellore has over the last few years, seen prices of gold and gold jewellery demand constantly rise, which is good from an investing point of view. However, what is most important to understand and view is whether the prices of gold in the city have been that of other asset classes.

Varieties of gold investment options available to those in Vellore?

There are many options that investors and individuals have when buying gold. In fact, from sovereign bond scheme to Gold ETFs, there is a wide variety to choose from. Let's begin to talk of Sovereign Gold Bonds. This was introduced by the Government, largely to discourage investors from buying physical gold, which is a drag also on the current account deficit. It provides great safety as the bonds are issued by the Reserve Bank of India on behalf of the Government of India. The best part of that it follows gold prices domestically and also there is some interest that is payable. The bonds are issued by the Government of India periodically. Those who have invested in these bonds have benefited as gold prices have risen over the last few months.

Should you buy 22k or 24k gold In Vellore?

The answer to that questions lies simply in whether you want is as an investment or as a consumer of jewellery. If you are looking at gold as an investment, than the better option would be to buy 24k as gold coin or bars. But, if you are consumer than there is no choice, you have to buy 22k jewellery as jewellery is not made from 24 karats. Simply, put gold jewellery and some alloy and if it 22k than the mixture is 91.6% pure gold and the remaining is some form of metal. Since there is metal added to pure gold for 22k jewellery, the rates are always lower as compared to pure gold, which is also called 24k gold or gold of 999 purity. Today, if you can afford than you can go for the pure form of gold or simply you can buy 22k or even 18k gold in Vellore.

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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