Today Gold Rate per Gram in Coimbatore
Gold sellers must ensure that they know and understand the correct gold rate per gram in Coimbatore before selling their gold. The prices are dynamic and change every day, so it is imperative to research the rates on the day of the sale.
Historical Price of Gold Rate in Coimbatore
The tradition of investing in gold has been passed on to generations in Coimbatore. Hence, due to the varying demand, the price keeps increasing and decreasing with time.
24 Carat Gold Price in Coimbatore 2022
Customers in Coimbatore can sell their gold at attractive gold prices in 2022.
24 Carat Gold Price in Coimbatore 2022
Due to COVID-19, the market rate of gold in Coimbatore has seen an interesting trend.
22 Carat Gold Price in Coimbatore 2022
The 22 carat gold rate in Coimbatore enables customers to get an attractive amount in return of sale.
22 Carat Gold Price in Coimbatore 2022
The price of 22 carat gold in Coimbatore went through several ups and downs in 2022.
Factors Affecting Gold Rate in Coimbatore?
Gold price in Coimbatore is decided every day by a committee that weighs the domestic and international factors involved. Some of the factors that are considered are:
- Inflation: The market is always volatile and its effect becomes an important factor in deciding the price of gold in Coimbatore. With the rise in demand, the price rises due to lack of supply and government regulations.
- Gold Reserves: The RBI regulates the gold reserves in India. An influx in gold reserves is an indicator of an increased inflow of cash in the domestic market. This affects the price of gold in Coimbatore significantly.
- Gold Market: Indians have a history and tradition of investing in gold jewellery, coins, etc. This causes heavy shifts in the demand and supply of gold, affecting its price. For example, during the wedding season, the demand for gold is high, so the price increases if the supply is short.
Various Gold Investment Options Available in Coimbatore
There are several ways of investing in gold in Coimbatore. They are:
- Investing in Gold Jewellery: Gold jewellery has worked as the primary investment form for the poor and rich families in Coimbatore for years. These pieces of jewellery are gifts passed on to the next generations. Due to its comfortable prices, stability against inflation and minimal maintenance, gold jewellery is the most common investment type in Coimbatore.
- Investing in Gold Coins or Gold Bars: Individuals in Coimbatore, like the rest of India, predominantly invest in gold through jewellery. But those who only look for investment and not for gifting, invest in gold through purchase of bars and coins. Bars and coins are sold by banks and reputed jewellers, and no making charges are levied.
- Investing in Gold ETF: Gold ETF or Exchange Traded Funds are mutual fund which offer the freedom to invest in gold in small quantities, without making gold purchases. Gold ETFs can be sold all over India with complete transparency.
How to Calculate Gold Rate in Coimbatore?
A committee, comprising of top gold jewellers and traders of Coimbatore, decide the prevailing gold rate for the day. The gold price is decided by weighing several factors such as local tariffs, duties, etc. If the government raises the duties and tariffs, to curb excessive consumption, the price of gold in Coimbatore rises and vice versa.
How to Sell Old Gold Jewelry for Cash in Coimbatore?
Muthoot Gold Point offers a convenient and transparent platform for its customers to sell their gold for instant cash. Selling gold jewellery involves the following steps:
Step 1: Customers visit their nearest Muthoot Gold Point branch and get their gold evaluated.
Step 2: The gold jewellery is cleaned thoroughly with ultrasonic machines to remove any dirt. This process is done in front of the customer.
Step 3: The value, weight and purity of gold is checked on XRF machines before the customer.
Step 4: Based on the value, weight and purity of the gold, it is evaluated as per the current market rate of gold in Coimbatore.
Step 5: If the customer is satisfied with the evaluation, they can hand over the gold to the representative. Muthoot Gold Point offers instant cash up to Rs 10000. If the amount is above Rs 10,000, the amount is transferred to the customer’s bank account.
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