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Tamils have been connoisseurs of gold since ancient times. Gold has been a part of their culture, traditions, attire and weddings. Because of its value and significance, Tamil Nadu is a huge gold market. In fact, according to the National Sample Survey Organisation (NSSO), the urban population of Tamil Nadu ranks 2nd in India per capita when it comes to expenditure on gold and gold ornaments. As you read further, it will help you know the gold rate in Tamil Nadu and the factors that influence the daily fluctuations in its price. 

Gold Price Per Gram in Tamil Nadu

In contrast to investments like securities, other metals and commodities, the gold rate in Tamil Nadu witnesses a mild fluctuation. There has been a visible momentum since 2023 began, as a consequence of the market taking a hit. In such a scenario, most investors consider gold to be a secure asset to invest in. If you too are looking for a safe haven to park your money, then gold might just be the ideal option. 

 

Whether the gold is for investment or otherwise, you should be aware of today’s gold rate in Tamil Nadu. Here is the 24-carat gold rate in Tamil Nadu:

Gram

24 Carat Gold Rate Today

24 Carat Gold Rate Yesterday

Daily Price Change

1 Gram

₹7,451

₹7,402

 ₹49

10 Gram

₹74,510

₹74,020

 ₹490

100 Gram

₹7,45,100

₹7,40,200

 ₹4,900

22 & 24 Carat Gold Rate in Tamil Nadu for Last 10 Days

When you think of the gold rate in Tamil Nadu, you don’t have to dwell on physical gold only. If you want to invest in gold, here are the several options to choose from:

  • Physical Gold

  • ETFs of gold

  • Derivative gold contract

 

So, however you select your gold investment, it's vital that you focus on the gold rate in Tamil Nadu today. You will get a good idea of how gold can hold benefits for you if you look at fluctuations over a period of ten days as shown below:

Date

STANDARD GOLD 22K

PURE GOLD 24K

1 Gram

10 Gram

1 Gram

10 Gram

Jul 16, 2024

₹6,830.00

₹68,300.00

₹7,451.00

₹74,510.00

Jul 15, 2024

₹6,785.00

₹67,850.00

₹7,402.00

₹74,020.00

Jul 14, 2024

₹6,805.00

₹68,050.00

₹7,424.00

₹74,240.00

Jul 13, 2024

₹6,805.00

₹68,050.00

₹7,424.00

₹74,240.00

Jul 12, 2024

₹6,825.00

₹68,250.00

₹7,446.00

₹74,460.00

Jul 11, 2024

₹6,785.00

₹67,850.00

₹7,402.00

₹74,020.00

Jul 10, 2024

₹6,760.00

₹67,600.00

₹7,375.00

₹73,750.00

Jul 09, 2024

₹6,799.00

₹67,990.00

₹7,417.00

₹74,170.00

Jul 08, 2024

₹6,800.00

₹68,000.00

₹7,418.00

₹74,180.00

Jul 07, 2024

₹6,820.00

₹68,200.00

₹7,440.00

₹74,400.00

Gold Rate Calculator

A gold rate calculator is a quick online tool which is used to calculate the gold price for different regions. All you need to do is enter the city/state for which you want to know the rate of gold, the quantity of gold (1,8,100 gram, etc.), the gold carat (18/22/24.), and investment time. The online tool will instantly calculate the result for you as per current gold rate. This is an easy-to-use online tool that is available for different weighing standards like kilogram, gram, ounce, tola, bhori, ratti, etc.

Gold Investment in Tamil Nadu

Gold is not just an important asset that is used in weddings but it acts as an effective tool for investment too. So, it helps to know the  price of gold today. Tamil Nadu citizens buy bars, coins and mostly jewellery at practically every Indian festival as it is considered an auspicious act. 

As Tamil Nadu is a big market for gold trade, if you are planning to make some gold investments, you have to know the gold price in Tamil Nadu. Once you know this, you can delve into a multitude of ways to make your investments in gold. Want to know more? Read on for some hints:

  • Gold Derivatives

Derivatives contracts like futures and options with the underlying commodity being gold, offers you a good non-physical form of investment too. You can opt to create wealth through short-term movements in the  Tamil Nadu gold price.

  • Gold in Physical Form 

Mentioned earlier, physical gold investment involves the purchase of gold in the form of bars, jewellery and coins mainly. If going for jewellery, try going for Hallmarked jewellery, so that there’s minimum loss when you need to return or exchange it in the future.

  • Gold Mutual Funds 

Mutual funds schemes with gold as the underlying commodity flood the investment arena today. Price movements can be beneficial without you having to get physical gold.

Read More

Points to Remember When Buying Gold in Tamil Nadu

Many people in Tamil Nadu are engaged in trade and business and can afford to invest in gold from time to time. If you want to buy gold, you should know the 22k and 24k gold rate in Tamil Nadu today. Nonetheless, while  purchasing gold, you should keep the following in mind too:

  • Check Purity Grade 

It is necessary that you check the level of purity of the sparkling metal you are purchasing. Make sure you buy from a retailer that has a purity machine and run your gold through it. Have a look to see if the gold has a BIS hallmark  as well.

  • Get an Appropriate Invoice 

Always buy gold with a proper bill/invoice. The invoice must specify the kind of gold that is bought. It must also include the weight, purity level, the gold rate per gram in Tamil Nadu, the address of the seller, the GST number and other information. The invoice is an important document and should be kept securely with you in case you want to sell the gold you have bought, especially to the same seller.

  • Don’t Let Making Charges Fool You

The price of jewellery is more costly than the price of actual gold of similar weight.It is because sellers add making charges to the jewellery. This cost is charged due to labour that goes into making the jewellery, designing it, etc.

Factors that Affect Gold Prices in Tamil Nadu

Besides the aspects of demand and supply, there are other factors that influence  gold price in Tamil Nadu. These are the following:

  • Government Reserves 

In order to stabilise the rate of gold in India, the government maintains reserves of gold. This is a practice that governments of most major countries follow. Consequently, if the government decides to purchase more gold, gold prices tend to rise.

  • Rates of Interest 

Gold price can be influenced by prevailing interest rates. If the rates of interest rise, gold prices fall.

  • Inflation 

Gold rates do not get affected by inflation so people tend to invest in gold during times of high inflation. In gold, they still see a safety net. In such cases, the demand for the metal goes up and prices rise accordingly.

How is the Purity of Gold Evaluated in Tamil Nadu?

It is essential to know the 22k and 24k  gold rate in Tamil Nadu today if you wish to purchase gold. What is also equally vital to know is how pure the gold you buy is. Two of the most popular purity grades in gold are 22 carat and 24 carat. In Tamil Nadu, gold price varies, as it does everywhere, depending on the purity. Jewellery is almost always made in the 22 carat variant. The grade of purity is established by the Bureau of Indian Standards or BIS. On any gold you buy in India, you will find a BIS stamp (BIS hallmark) informing you about the standard of purity.

GST Impact on Gold Rate in Tamil Nadu

The gold rate in Tamil Nadu, is influenced by yet another factor. Taxes are levied on this immensely valuable metal, GST being the prominent tax. A GST of 3% is levied on gold jewellery the moment you buy it in Tamil Nadu. Making charges, that is, the cost of labour also incurs a GST on Gold of 5%. This adds up to the price you buy gold at, increasing it further.

FAQs on Gold Rate in Tamil Nadu

Will the prices of gold in Tamil Nadu be the same when compared to the other states?

No. The price of gold varies from state to state. This is primarily because of the differences in government taxation, inflation, transportation cost etc.

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