Gold Rate Today in Coimbatore

24K Gold / 10gm
As on 23 December, 2024
₹77450
0.00 (0.00%)
22K Gold / 10gm
As on 23 December, 2024
₹71000
0.00 (0.00%)

There's no denying that gold is one of the most valuable metals in Coimbatore. While some consider gold as a sign of wealth and status, others consider it a worthwhile investment. But the gold price in Coimbatore, like all other Indian cities, keeps fluctuating. 

gold rate coimbatore
Several factors, including government policies and the prevailing interest rates, have an impact on the gold rate. Whether you are planning to buy gold bars, coins, or jewellery, you need to be aware of the gold rate today in Coimbatore. The price of gold in the city today won't be the same as yesterday or tomorrow. 
 

Today 24 Carat Gold Rate in Coimbatore (INR)

Gram Coimbatore Rate Today (₹) Coimbatore Rate Yesterday (₹) Daily Price Change (₹)
1 gram 7,745 7,745 0
8 gram 61,960 61,960 0
10 gram 77,450 77,450 0
100 gram 774,500 774,500 0
1k gram 7,745,000 7,745,000 0

Today 22 Carat Gold Rate in Coimbatore (INR)

Gram Coimbatore Rate Today (₹) Coimbatore Rate Yesterday (₹) Daily Price Change (₹)
1 gram 7,100 7,100 0
8 gram 56,800 56,800 0
10 gram 71,000 71,000 0
100 gram 710,000 710,000 0
1k gram 7,100,000 7,100,000 0

Historical Gold Rates

Date Coimbatore Rate (per gm)% Change (Coimbatore Rate)
23-12-2024 7745 0.00
22-12-2024 7745 0.00
21-12-2024 7745 0.43
20-12-2024 7712 -0.91
19-12-2024 7783 -0.01
18-12-2024 7784 -0.21
17-12-2024 7800 0.14
16-12-2024 7789 -0.12
15-12-2024 7798 0.00
14-12-2024 7798 0.00

Factors That Influence Gold Prices in Coimbatore

The factors affecting the gold rate in Coimbatore are as follows:

 

1. Interest rate trends: When the interest rates in the market are high, customers sell gold to get securities with fixed yields. It increases the availability of gold in the market, and the price of the metal gets reduced. In the case of low-interest rates, there's more money in the pockets of customers. Therefore, the focus on buying more gold, which leads to a price increase. 

2. Inflation: The value of gold is inversely proportional to the value of the US dollar. Therefore, gold is often used to hedge against inflation in the economy. Due to the stability of gold, investors hold on to it more than money. Therefore, the demand for gold will go up during inflation. The high demand will surge gold prices. Both domestic and international inflation is responsible for soaring gold prices. 

3. Supply and demand: Supply and demand are major factors affecting the cost of all marketable goods, and gold is no exception. The gold price increases due to higher demand in the market than its supply. Similarly, when the supply is high, but the demand is low, the prices will be lower. Since adequate gold isn't mined every year to cater to the demand, the supply gets reduced. 

4. Macroeconomic factors: The 22 carat gold price in Coimbatore will increase when the demand for the yellow metal is high. Several macroeconomic factors increase the demand for gold in the market. For instance, the demand will be higher during uncertain economic times because investors focus on acquiring more gold instead of cash during these times. 

5. Currency value fluctuations: Changes in currency values can also impact the price of gold. If the value of the Indian rupee declines, the cost of importing gold increases. As a result, gold prices have increased in Coimbatore and other parts of the country. 

6. Geopolitical situations: During times of political or economic unrest, people stock up on gold because it's a secure investment. Similarly, during times of rapid economic expansion, the demand for gold might reduce. The price of gold will get impacted according to the supply and demand in accordance with geopolitical situations. 

7. Transportation costs: Gold needs to be transported to various locations for more protection or for imports. It creates transportation costs in terms of fuel, maintenance, security, and more. 

8. Jewellery market: The gold price will depend on the demand in the jewellery market. During the wedding or festive season, the demand for gold will be higher in Coimbatore. Therefore, the price will also be high. 

9. Regional factors: The city of Coimbatore has a diverse population and demography. In rural areas with a sparse population, gold prices will be high. In urban areas with a dense population, the prices will be lower. When the volume of demand is high, large amounts of gold will be sold, and the prices will go down.

10. Purchase price: The 22ct gold price in Coimbatore will also depend on at what rate retailers bought it. When retailers have stocks of gold bought at lower prices, you might be able to buy jewellery at lower prices. But when they have bought the gold at higher prices, they won't be ready to give you any discounts to keep up with their profits. 

11. Local jewellery traders' association: Gold prices in Coimbatore will also be impacted by regional bullion or jewellery groups. Moreover, the state of Tamil Nadu might also add taxes and charges, leading to a surge in gold prices. 

12. Public gold reserves: The price of gold will increase when the central bank of the country accumulates and purchases more gold. It leads to increased capital movement despite the lack of availability of gold. The Reserve Bank of India maintains a large reserve of gold as well as money. 

How is Today's Gold Rate in Coimbatore Determined?

A gold association is present to set the 24k gold rate in Coimbatore. The MCX Futures are responsible for determining the gold price in the city every day. Local levies and other duties are also considered to set the gold prices. Some other factors that help determine the daily gold rates in Coimbatore and other cities are as follows:

 

● Interest rates: When the interest rates are higher, people sell gold to opt for fixed-yielding securities. It leads to fluctuations in daily gold rates. 

● Government policies: When the government policies are unfavourable, 24 carat gold price in Coimbatore goes high. Similarly, favourable policies reduce gold prices.

● Regional factors: Regional factors like taxes imposed by the local governments also influence gold rates. 

Places to Buy Gold in Coimbatore

● If you are wondering about the 1 gram gold rate in Coimbatore, you are probably thinking about buying it. The city of Coimbatore has various places from where you can buy gold jewellery. Some of the most reputable stores to stock up on gold include Lalitha Jewellery, Joy Alukkas, Karpagam Jewellers, and Kalyan Jewellers. Most of the popular jewellery stores in the country have the latest designs. 

● You can also ask these jewellers if they offer any gold schemes. These schemes are great for savings when you are buying in a lump sum. But always remember to check today's gold rate in Coimbatore for 22 carat before investing in the gold schemes. 

Importing Gold into Coimbatore

In India, the demand for gold is met by imports. Some important rules and regulations regarding gold imports are as follows:

 

● Passengers aren't allowed to import more than 10 kg of gold to the nation at a time. Gold jewellery is also included under weight restrictions.

● Men are allowed to import gold worth Rs 50,000 when they have been outside India for more than a year. The limit is up to Rs 1 lakh for women.

● Every gold import in the country needs to be routed through custom-bonded warehouses.

● Gold in the form of coins and medallions cannot be imported to India.

● If you have left the country without an export certificate, you will face severe interrogation while coming back with gold. 

Gold as an Investment in Coimbatore

People primarily invest in gold because of its liquidity. No matter where you are, you will be able to sell gold and encash it. Moreover, the 22 carat gold rate in Coimbatore might keep fluctuating, but it will never fall below a certain level. Therefore, no investor will completely lose their funds from investing in gold. 


The different kinds of gold investments that are available in Coimbatore are as follows:
 

● Bullion: You can buy bullion in the form of bars. The market value of bullion will be based on the percentage of gold bullion. It is justified according to the mass and fineness.

● Jewellery: Like multiple Indian cities, buying gold in Coimbatore during the wedding season is pretty common. Moreover, consumers also buy gold for various other festivals.

● Portfolio diversification: Investors often buy gold to diversify their portfolios. In Coimbatore, consumers can buy gold in different karats and weights. The gold price today in Coimbatore will depend on the purity and quantity of gold you are buying. 

GST Impact on Gold Price in Coimbatore

● GST was introduced on various commodities as a way to replace multiple taxes in India. Gold is no exception. After GST was introduced, gold prices somewhat increased in the country. 

● In India, the applicable GST on the 916 gold rate today in Coimbatore is 3%. Another 5% GST is applicable on the making charges of gold. But GST isn't the only factor that has increased the price of gold in India. 

● Even after GST was introduced, the import duty on gold wasn't removed. An import duty of 10% is applicable on today's gold rate in Coimbatore 24 carat. Therefore, the price of gold increases significantly due to the import duty tax. 

Things to Remember Before Buying Gold in Coimbatore

Before buying gold in India, you must be aware of the following:

 

● Gold price fluctuations: The price of gold keeps increasing and decreasing regularly. Therefore, it is crucial to remain aware of the live 24 carat gold rate in Coimbatore. 

● Decide the type of gold you want to buy: Gold is available in various forms, including bars, coins, jewellery, and stocks. Every form of gold has its unique advantages and disadvantages. If you want to sell your gold at a later point, investing in jewellery might not be a prudent option. In that case, you should focus on investing in other forms of gold, like ETFs.

● Check certification: One of the most important aspects to check while buying gold is certification. Assaying and Hallmarking centres have the authority to certify the purity of gold. Hallmarked gold does not always mean it's of 24k purity. It can refer to 22 carat, 18 karat, or even 14 karat.

● Making charges: While the 22ct gold rate today in Coimbatore remains the same across all jewellers, the making charges will differ. You should always try settling with a jeweller with minimal making charges. Moreover, you should also try to negotiate it as much as possible. 

Difference between KDM and Hallmarked Gold

The difference between KDM and hallmarked gold is important for understanding the purity of gold. So, let's figure out the difference between the two:


KDM Gold

● While making jewellery, gold needs to be melted with solder and other metals. Solder refers to an alloy of gold with a melting point lower than the yellow metal. Solder ensures that the purity of gold isn't compromised while making jewellery. 

● The soldering material used to be a combination of copper and gold. The ratio between gold and copper used to be 60% and 40%. But the purity of gold was compromised when it was combined with gold. Therefore, the 1 gram gold price in Coimbatore could be affected due to the reduced purity.

● To maintain purity, cadmium was chosen as the soldering material. Gold crafted with cadmium alloy is labelled as KDM. Only 8% cadmium is mixed to maintain the purity of gold. 

● But eventually, cadmium was banned because it used to cause various adverse health effects in artisans. Nowadays, elements like zinc and copper have substituted cadmium because they are safer.

Hallmarked Gold

● Hallmark on gold refers to the standard seal of approval from the Bureau of Indian Standards. BIS ensures whether gold conforms with the global, national, and regional requirements in terms of purity of refinements. 

● When you are buying hallmarked gold, you will know that the purity of gold is intact. Some elements indicating hallmarked gold include the retailer's logo and the BIS logo.  

FAQ’s

If you intend to invest in gold in Coimbatore, you can buy physical assets from local jewellery stores. But you can also invest in ETFs or trade futures and options in the commodity market. 
 

The future gold rate forecast in Coimbatore hints at a positive outlook. The future 916 gold rates in Coimbatore will be influenced by multiple factors like inflation, supply and demand, government policies, and more. 
 

The different karats of gold available in Coimbatore include 10, 14, 18, 22, and 24 karats. If you want the purest form of gold, you should look into the 24ct gold rate in Coimbatore. 
 

The ideal opportunity to sell gold in Coimbatore is when the prices show an upward trend. When the price of gold is high in the market, you will be able to acquire more funds by selling it. 
 

Whether it's Coimbatore or any other city, the purity of the gold will be measured in karat. You should always opt for purchasing hallmarked gold. When gold is hallmarked, it means that its purity has not been compromised. 
 

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