The price of gold across Indian cities and states differ. Forbes Advisor has put together the gold price of one and 10 grams of 24-Carat and 22-Carat pure gold in Tamil Nadu today, as of 9:35 am.
Gold Rate In Tamil Nadu (May 10, 2024)
Today 22 Carat Gold Price in Tamil Nadu (Per Gram)
Today 24 Carat Gold Price in Tamil Nadu (Per Gram)
Gold Rates in Tamil Nadu for the Last 10 Days (Per Gram)
Compare 22K & 24K Gold Rate In Tamil Nadu (Yesterday & May 10, 2024)
Monthly Graph of Gold Rate in Tamil Nadu (22 Carat gold)
Monthly Graph of Gold Rate in Tamil Nadu (24 Carat gold)
Gold Rate In India Today: May 10, 2024
Related: Today’s gold price in 10 cities of India.
Where to Buy Gold in Tamil Nadu?
There are various ways to buy gold in Tamil Nadu, as follows:
Gold Jewelry
Gold jewelry and ornaments can be bought from dealers at jewelry stores of local jewelers and companies like Titan, Muthoot Finance, which sells jewelry that are BIS Hallmarked gold of desired purity scales. Also, authorized banks are allowed to avail of the facility to consumers to buy gold coins, or invest in similar schemes on installments.
Gold Saving Schemes
Authorized NBFCs and retailers offer individuals to invest in gold saving schemes, wherein a certain amount of money is deposited every month as installments for a specific tenure to obtain the jewelry. Retailers often run such schemes as cash incentives to borrowers.
Sovereign Gold Bonds (SGBs)
The Reserve Bank of India (RBI) issues SGBs on behalf of the Government of India. The value of one bond SGB equals one gram of 24 carat purity gold. Up to 4 kgs worth of gold can be bought via SGBs. The cost of SGBs is calculated by taking an average of closing prices of the gold for the latest three working days preceding the subscription period.
Digital gold
The method of buying digital gold online involves investing in small fractions as per the convenience to access the yellow metal. The various forms of investing in digital gold include buying:
- Gold Stock, and Gold Exchange Traded Funds (ETFs): Gold stocks can be bought by opening a trading account and investing in gold stocks via NSE and BSE. Similarly, gold ETFs require investing in mutual fund companies. One gold ETF unit is equal to 1 gram of gold and is backed by pure physical gold.
The value of a gold stock and gold ETFs depend on the performance of the domestic price of the gold in the market.
- Gold accumulation plan: Paytm, PhonePe, and a few other mobile wallets as well as Stock Holding Corporation of India offer gold accumulation plans, which allow investors to buy digital gold upon a low investment.
Related: Alternative ways to invest in gold.
Where to Sell Gold for Cash in Tamil Nadu?
Loan against gold jewelry: Banks are authorized to offer gold loans to consumers with valid documents over and over basic purity checks. Gold loan is a secured loan, which is kept as a collateral to obtain up to 75% loan-to-value ratio (LTV) of the gold. It is a short-term loan with tenure ranging from 3 to 36 months. It charges an interest rate, and other charges, on the principal amount when the EMI begins after disbursement.
Retailers: Gold owners can visit the place of purchase, or take the jewels at accredited gold stores of retailers or stores of jewelry companies, and either sell it to get a loan against a desired amount by presenting the bill of purchase, which has information on gold’s weight, place and date of purchase.
Frequently Asked Questions (FAQs)
What is today’s price of gold in Tamil Nadu?
Today’s price of gold in the state of Tamil Nadu is INR 4,574 for one gram of pure 24K gold and INR 4,193 for one gram of pure 22K gold.
What is the current price of gold across major Indian cities?
Below are the links to articles on current price of gold in major Indian cities:
• Gold price in Ahmedabad
• Gold price in Delhi
• Gold price in Bangalore
• Gold price in Hyderabad
• Gold price in Kochi
• Gold price in Chennai
• Gold price in Kolkata
• Gold price in Mumbai
• Gold price in Surat
• Gold price in Coimbatore
• Gold price in Karnataka
• Gold price in Vijayawada
• Gold price in Kerala
• Gold price in West Bengal
• Gold price in Pune
• Gold price in India
How can I invest in gold saving schemes in Tamil Nadu?
There are many retailers that run gold saving schemes on monthly installment for a specific tenure to obtain the desired jewelry. Always invest in such schemes that are run by registered or authorized dealers of gold jewelry and coins.
Should I invest in gold stock, or Gold Exchange Traded Funds (ETFs)?
The value of a gold stock and gold ETFs depend on the domestic price of the gold in the market. Remember gold rates vary among states and cities. Gold stocks investment requires knowledge on trading of stocks in NSE and BSE.
Gold ETFs, on the other hand, are offered by mutual fund companies and NBFCs, where the value of one unit of gold ETF equals one gram of gold. The investment is backed by pure gold owned by the fund managing company.
