Like every Indian city, Trichy is also home to a large population that chooses to invest in gold. Not only in India, but in the rest of the world too, gold is considered among the best investment instruments owing to its ability to withstand changes in market forces and resultant prices.
Since gold is a limited resource, it continues to hold its own as a precious metal. Despite price fluctuations caused by market events and regardless of how low the gold rate in Trichy today could drop to, investors can rest assured that their long-term returns will be profitable.
Another key factor involved in making gold a coveted investment is the versatility available in purchasing it. For instance, a lot of people in Trichy buy gold in the form of jewellery which can also be adorned during festivals and other celebrations. Alternatively, gold can be purchased as bars, coins or even invested in through Exchange Traded Funds. However, regardless of how you choose to invest in gold, it is essential to know the gold rate price today in Trichy.
Gold prices can change due to a range of factors. These include social, political and economical changes within the country or even globally. These factors impact the price at which gold is sold by jewellers and traders alike. It is important to know these factors in order to identify the best time to invest in gold.
Today, the gold price in Trichy is Rs. 45,524 for 10 grams of 24 carat gold. For 22 carat, the gold rate in Trichy today is Rs. 43,375.
Considering the high amount of fluctuations that happen in gold rates everyday, it is important to keep track of the price of gold. Keeping a regular track of gold prices can help you stay updated on the overall price trends for gold in Trichy and thereby, pick the best date to invest.
The gold today rate in Trichy is Rs. 4829 per gram for 24 carat gold. The price has averaged Rs. 4800 for the last week, suggesting that you can choose to wait before you buy or sell your gold investments.
It is important to know the prices of gold of both 22 and 24 carat, since that offers you a choice in terms of which gold is more affordable for you. Informed decision making can go a long way in ensuring that your investment offers the best returns possible.
For instance, today’s 22 carat gold price is higher than it has been in a week but the same cannot be said for 24 carat gold. For 22 carat, 1 gram gold rate today in Trichy is Rs. 4465.
As mentioned above, the gold rate is decided on the basis of several factors. Several factors go into determining the gold price in Trichy on a certain day.
International gold prices are the benchmark upon which the gold rate in Trichy today has been determined. This is because India imports gold mainly from abroad owing to having fewer natural gold reserves. It is important to note that international gold prices are derived from COMEX gold futures trading and also from trading in the London Over-the-Counter (OTC) spot gold market.
Since these international prices affect the gold price in Trichy today, it is helpful to keep an eye on news and developments happening across the world in order to ensure you make a fruitful investment.
The Goods and Services (GST) Tax has completely overhauled the taxation on gold and even jewellery pieces made of gold. Currently, the total GST levied on gold is 3%, which is inclusive of the making charges for the gold jewellery.
Previously, it was significantly more expensive to buy gold. While there was no tax levied on making charges for the gold jewellery, the consumer was required to pay 1.2% as Value Added Tax (VAT) and 1% excise duty. All of these charges have been removed post introduction of the GST regime.
Investing in gold is one investment route that continues to remain popular among both existing and new investors. There are several routes open to those who wish to invest in gold. Once you start keeping an eye on the gold price in Trichy on a daily basis, it also becomes important to assess the options available to you in terms of how you wish to purchase your gold. While jewellery is preferred by people who wish to buy gold for festive or celebratory purposes, there are others who wish to purchase gold as an investment alone. Read on below to learn more about the investment options available to you.
Bars and Coins:
Gold is most commonly purchased in the form of bars and coins. These can be bought from a jeweller, bank, e-retailer, and even non-banking financial institutions (NBFCs) or government institutions, such as the Metals and Minerals Trading Corporation of India (MMTC) and the Stock Holding Corporation of India. Through these institutions, it becomes really easy and convenient to purchase gold since you can purchase as little as 0.5 grams of gold or however much you are able to afford.
Gold Exchange Traded Fund (ETF):
Gold ETF enables investors to trade gold through both paper and on the internet. One gold ETF unit is considered equivalent to the value of 1 gram of 24 carat gold. Gold ETFs are considered a safer option since you are trading in money and not actual gold. Another advantage offered by gold ETFs is that by holding them, you can buy or sell gold at the same price all across India.
Sovereign Gold Bonds (SGBs):
Sovereign Gold Bonds (SGBs) are issued by the Reserve Bank of India (RBI), which makes it an especially secure investment. SGB investments can be denominated through the gold’s weight and can be invested without investors having to store the gold. The best part of investing in SGBs is that investors earn periodic interest on their investment and also receive the gold’s market value once the security has reached maturity.
Gold is often considered as adequate collateral by banks and other financial institutions. You can place the gold with the lending authority as collateral and avail a loan against it. The value of the loan will depend entirely on the amount of gold you are offering as collateral. It is important that you assess the purity and weight of the gold you wish to use as collateral before you take it to a lender though.
It is difficult to say for sure without keeping a close eye on international trends and the price of gold in the international market.
Aside from checking for the gold rate in Trichy today, it is also important to check the purity of the gold, the buy-back terms, and the certification available with the gold.
It is possible and recommended that you check the gold’s purity before you purchase it. You can look for identification marks that authenticate its purity or you can use a home kit to verify the purity.