Considering the fact that Indians have long regarded gold as something auspicious, it is no wonder that we as a country are amongst the top 3 consumers of the yellow metal. So, if you’re in Coimbatore and in the market for gold, it is essential to know what the gold rate in Coimbatore today is.
Since the price of this precious metal is something that undergoes frequent changes, it is important to be aware of the current gold rate in Coimbatore. And that’s exactly what you’re going to be looking at now. Here’s the gold price in Coimbatore.
22 carat gold rate today in Coimbatore: Rs. 44,840 for 10 grams
24 carat gold rate today in Coimbatore: Rs. 48,920 for 10 grams
24 carat gold is widely considered to be one of the purest forms of the metal that’s sold in the market right now. So, obviously you would want to know what the 24 carat gold rate today in Coimbatore is, especially if you’re interested in purchasing it as coins or bars. Let’s take a quick look at what it is currently retailing for.
24 carat gold: 1 gram for Rs. 4,892
24 carat gold: 8 grams for Rs. 39,136
If you’re more into purchasing gold ornaments, then you’d be surprised to know that 22 carat gold is what almost all jewelers use to make them. This is primarily due to the fact that 22 carat gold is more pliable and conducive for making ornate jewels. That said, here’s what the 22 carat gold rate today in Coimbatore is.
22 carat gold: 1 gram for Rs. 4,484
22 carat gold: 8 grams for Rs. 35,872
The purity of gold is determined based on whether or not it is mixed with other metals or alloys. The purity is expressed in terms of carats, on a scale of 0 to 24. The purest of gold is 24 carat gold, which is simply just gold without any additions. Gold coins and bars are made of 24 carat gold.
There is also 22 carat gold, which is commonly mixed with silver, zinc or nickel and is used to make regular jewelry. 18 carat gold is mixed with copper or silver and is used to make studded and diamond jewelry.
Although most of the gold purchases in Coimbatore and in India are in the form of ornaments, that’s not the only reason why people purchase the precious metal. In fact, gold acts as a very good investment option since it’s considered to offer inflation-beating returns.
That’s why many individuals choose to purchase gold in various forms. This way, they can not only beat inflation but also create wealth in the long term. So, if you’re looking to do the same, then it is crucial to know what the gold price in Coimbatore today is.
Gold rates in Coimbatore fluctuate for a number of reasons. However, the main driving factor can be traced back to the demand for precious metal in the city. The demand rises during festivals and occasions, leading to a price rise. And during other times of the year, the price tends to fall back down. Aside from this reason, government policies, interest rates, taxes and the jewelry market in the city also influence the gold prices and cause them to fluctuate.
Among the many financial products linked with gold, a gold loan is one of the most popular ones. You can avail a gold loan in Coimbatore by pledging any gold ornaments you have in your possession in return for borrowed funds. This is a helpful way to access emergency funds in case you need to pay for any unexpected expenses. The amount of loan that you can avail depends on the weight of the gold that you pledge, its purity and the gold rate today in Coimbatore per gram.
Taking into account the disadvantages one faces with having to store physical gold safely and securely, gold ETFs were introduced in the market. These ETFs give you a more secure way to invest in gold. That’s not all. Gold ETFs are very liquid and can be bought and sold easily on the exchange.
One of the key things about gold ETFs is that it tracks the price movement of gold. This effectively means that whatever the gold rate in Coimbatore today is, the price of the ETF will automatically reflect it. That said, to invest in gold ETFs you require a demat account since they’re required to be held in an electronic form.