Gold Rate in Namakkal Today

Namakkal, known for its strong cultural roots and vibrant traditions, holds gold in high regard, whether for crafting exquisite jewellery or as a dependable investment option. In this town, gold plays a significant role during festivals, weddings, and other celebrations.

 

Gold rates vary across cities due to factors like local demand and global market trends. It’s therefore essential for you, as a resident of Namakkal, to stay updated on today's gold price in Namakkal. Knowing today’s gold rate in Namakkal can help you make timely and well-informed purchases, whether for personal adornment or as a secure financial asset.

Here are some gold investment options you can try 

Jewellery and Ornaments

Traditional gold jewellery is widely bought in Namakkal for personal use and as an investment. Always consider purity and making charges.

Gold Coins and Bars

Investing in Gold Coins and Gold Bars is Ideal for those seeking physical gold without the added cost of making charges. These are often used for gifting or savings.

Digital Gold

Buy gold online starting from as little as ₹1. Digital gold offers secure storage and eliminates the risks of handling physical gold.

Gold ETFs and Mutual Funds

Invest in gold via stock exchanges or mutual fund schemes. These options allow for easy buying, selling, and diversification without owning physical gold.

Sovereign Gold Bonds (SGBs)

Backed by the RBI, SGBs are a safe option offering periodic interest and long-term returns.

• Local Gold Rates

Check today’s gold rate in Namakkal before making any purchase

• Certification

Ensure your gold has a BIS hallmark to guarantee its purity and authenticity

• Purity Level

Choose the right karat, such as 22-karat for jewellery or 24-karat for investment purposes

• Making Charges

Be aware of additional costs like making charges, as these vary by jeweller

• Trusted Jeweller

Always buy from a reputable jeweller in Namakkal for reliable quality

• Global trends, such as demand in international markets and geopolitical tensions

• Local demand during festivals and wedding seasons in Namakkal

• Inflation rates, which make gold an attractive hedge, driving prices higher

• Currency exchange rates, especially the value of the Rupee against the Dollar

• Government policies, including changes in import duties and gold reserves

Hallmark Certification

The BIS hallmark is the most reliable indicator of gold purity. It includes details like karat value, BIS logo, and a unique HUID number.

Density Test

The density of pure gold is unique. Comparing the item’s density to the standard helps assess its purity.

Magnet Test

Pure gold is non-magnetic. If the item is attracted to a magnet, it contains impurities.

Visual Inspection

Check for tarnished or discoloured areas. Pure gold doesn’t tarnish or discolour over time.

X-Ray Fluorescence Testing

Jewellers in Namakkal often use this advanced method to test gold composition accurately without damaging the item.

GST on Purchases

A 3% GST is applied to the value of gold, which increases the overall cost.

GST on Making Charges

An additional 5% GST is levied on the making charges for jewellery, particularly for intricate designs.

Total Cost Impact

The combined GST on gold and making charges significantly affects the final price of gold jewellery in Namakkal.

Gold loans in Namakkal are directly influenced by prevailing gold rates. The loan amount you can borrow depends on the value of the gold pledged as collateral.

 

When gold rates are high, the value of your pledged gold increases, allowing you to secure a larger loan amount. Conversely, if gold rates drop, the loan amount you are eligible for decreases. The Reserve Bank of India caps the loan-to-value (LTV) ratio for gold loans at 75%, but fluctuations in gold rates may impact the repayment terms. It’s important to monitor gold rates in Namakkal to make well-informed borrowing decisions.