Gold rate in Tirunelveli fluctuates due to various domestic and global factors. Check and understand them to make smart decisions.
In the vibrant Indian city of Tirunelveli, gold remains the preferred choice for personal use and as an investment.
Whether you want to invest in it or use it to get a gold loan, staying informed about the current gold rate in Tirunelveli is crucial. Compare it with rates from previous days to make confident decisions.
Check out the gold price today in Tirunelveli for different weights below.
Gram |
22 Carat Gold Rate Today |
22 Carat Gold Rate Yesterday |
Daily Price Change |
1 Gram |
₹7,905 |
₹7,905 |
₹0 |
10 Gram |
₹79,050 |
₹79,050 |
₹0 |
100 Gram |
₹790,500 |
₹790,500 |
₹0 |
Gold price in Tirunelveli with fluctuations in the last few days, is shown below:
Date |
STANDARD GOLD 22K |
STANDARD GOLD 24K |
||
1 Gram |
10 Gram |
1 Gram |
10 Gram |
|
February 07, 2025 |
₹7,905 |
₹79,050 |
₹8,300 |
₹83,000 |
February 06, 2025 |
₹7,905 |
₹79,050 |
₹8,300 |
₹83,000 |
February 05, 2025 |
₹7,810 |
₹78,100 |
₹8,201 |
₹82,010 |
February 04, 2025 |
₹7,810 |
₹78,100 |
₹8,201 |
₹82,010 |
February 03, 2025 |
₹7,730 |
₹77,300 |
₹8,117 |
₹81,170 |
Gold price in Tirunelveli with fluctuations in the last few days, is shown below:
Date |
STANDARD GOLD 18K |
|
1 Gram |
10 Gram |
|
February 07, 2025 |
₹6,468 |
₹64,680 |
February 06, 2025 |
₹6,468 |
₹ 64,680 |
February 05, 2025 |
₹6,390 |
₹63,900 |
February 04, 2025 |
₹6,390 |
₹63,900 |
February 03, 2025 |
₹6,325 |
₹63,250 |
As investment in gold gains popularity, different methods are emerging. Here are some of the popular options:
Physical Gold
You can purchase physical gold in various forms, such as jewellery, coins, or bars when prices are low. The benefit is that you enjoy easy access and the flexibility to wear them anytime.
Note that storing and transporting gold can be risky. If you choose to store it in bank lockers, the charges can increase your expenses.
Sovereign Gold Bonds (SGBs)
SGBs are considered one of the safest investment options and an excellent substitute for physical gold. They offer a fixed interest rate of 2.5% p.a., paid twice a year.
Digital Gold
You can invest in digital gold via fintech platforms and store it digitally, removing the need for physical storage. You can effortlessly sell the digital asset and convert it into physical gold of equal value when required.
Gold Exchange-Traded Funds (ETFs)
This is a convenient way to invest in gold without physically purchasing it. It involves units of gold held in dematerialised form. You can buy and sell of ETFs on stock exchanges in India, with each unit typically representing 1 gram of gold. This method is popular due to its comparatively low annual charges.
Jeweller Schemes
Jewellers often offer gold schemes that allow investors to purchase gold gradually by investing small amounts over time. This is similar to a Systematic Investment Plan (SIP). You can buy a specific amount of gold monthly or at fixed intervals.
Review the gold price today in Tirunelveli as the first step before making an investment. You must also pay attention to the following to ensure you are purchasing genuine gold:
Purity of the Gold
The purity of gold is one of the most important factors to evaluate when investing. Gold purity is measured in karats, with the most common options being 18K, 22K, and 24K. Each karat level indicates a specific percentage of gold content.
18K gold contains 75% pure gold, while 22K gold consists of 91.67% pure gold. The highest level of purity, 24K gold, is made up of 99.9% pure gold.
Hallmark
The Bureau of Indian Standards (BIS) establishes quality standards for gold. Hallmarking certifies gold for purity and weight as per the standards. Check the BIS logo, purity of the item in karats, and the Hallmark Unique Identification (HUID) number.
Additional Charges
There are extra charges to consider when purchasing physical gold. These additional costs can increase your expenses. Some of the common charges include making charges, wastage charges, and the Goods and Services Tax (GST). While GST rates on Gold are consistent across sellers, you can negotiate the making and wastage charges.
Understanding the factors influencing the gold rate in Tirunelveli can help you make informed investment decisions:
Economic Conditions of the Country
The country’s economic situation can significantly impact today’s gold rate in Tirunelveli. Geopolitical events, economic uncertainties, and currency fluctuations often drive investors towards gold as a safe-haven asset. This increased demand can result in a rise in prices.
Demand in the Local Market
The price of gold tends to rise when local demand increases, often driven by domestic factors. Wedding and festive seasons typically see higher demand, leading to price hikes. You need to stay vigilant about local market trends.
Government Regulations
Fluctuations in gold rates can occur due to changes in import duties, taxes, or restrictions on gold imports. For instance, an increase in the GST rate can make the overall purchase expensive. Due to this, the demand, and in turn, the price may go down.
US Currency Against Rupee
When the Indian Rupee weakens against the US Dollar, gold prices in India often increase. Conversely, a stronger rupee can lead to lower gold rates. Monitoring currency fluctuations is essential when evaluating gold prices.
Some common methods to evaluate the purity of gold includes:
Magnet Test
Gold does not react to magnets, whereas other materials, especially iron, do. Iron is one of the most commonly used materials to imitate gold. Hold a magnet near the metal. If it gets attracted, the gold item may not be pure.
Blackstone Method
Fraudsters often use copper, iron, or brass to make jewellery or coins and coat them with a thin layer of gold to deceive customers. In this method, you need to rub a black stone against the metal.
If you notice a different colour appearing after scratching the top layer, the item may not be pure as pure gold’s colour does not change.
Acid Test
This method also requires a blackstone for accurate results. Create a streak on the black stone and apply nitric acid on the surface. Pure gold does not react when it comes in contact with the acid and vice versa.
You must go to a professional for these tests to ensure safety and they may evaluate the results more accurately.
In India, including Tirunelveli, the GST on gold is 3%, split equally as 1.5% for CGST and 1.5% for SGST. In addition to that, you need to pay a 5% GST on making charges of gold jewellery.
For example, if you purchase gold worth ₹70,000, the GST will amount to ₹2,100 (3% of ₹70,000). If the jeweller charges ₹4,000 for making the jewellery, the GST on the making charges will be ₹200 (5% of ₹4,000).
Gold loans are one of the best ways to manage emergencies. Since they are secured loans, they come with minimal eligibility criteria. Also, lenders may offer competitive terms for this type of loan.
The amount you can borrow depends on the current value of gold. If the gold rate is high, you can borrow a higher amount against your collateral and vice versa.
You can apply for a gold loan at Bajaj Markets after comparing various offers from different lenders. You can secure the loan in just a few minutes with minimal documentation and experience a quick, hassle-free process!
Today Gold Rate
Gold Rate in Popular Cities
The gold price in Tirunelveli may occasionally differ slightly from other cities within Maharashtra due to transportation costs. However, these differences are typically minor.
The ideal type of gold largely depends on your preferences and the purpose of buying. If you are interested in investment, gold coins or bullion are often the wisest options, as they tend to appreciate in value over time.
If you are looking for something for personal use, gold jewellery offers a wide range of styles to suit your style.
The most common method to determine the purity of a gold piece is by checking for the hallmark stamp. For a more precise evaluation, it is advisable to seek the expertise of a certified jeweller to confirm the purity.
Gold prices in Tirunelveli may be affected by a variety of global and domestic factors. These may include inflation, changes in currency exchange rates, changes in government policies, and the dynamics of supply and demand.