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Coimbatore is a city in the Indian state of Tamil Nadu. It is the second largest city housing the biggest textile and manufacturing industries. The city also houses people having immense love for gold jewellery. Gold has been one of the preferred choices of investment amongst the people in Coimbatore due to which there is a steady increase in the gold consumption rate. The high demand for gold has led to a rise in the gold rates that keep on fluctuating on a daily basis. Since gold is a liquidable asset and also acts as a hedge against inflation, people in Coimbatore invest in gold. Gold in Coimbatore is in demand in every season as mainly it is looked upon as an investment and also has a cultural value due to which people prefer to buy it during the time of wedding and festivities.
To buy gold in Coimbatore, one can check gold rate online in the city and then proceed with the purchase. Gold rate in Coimbatore is different for 22K and 24K purity. The investor can buy gold on that particular day.
Gold being one of the most appreciated metals in Coimbatore is always in demand. No matter what the gold rate today in Coimbatore is, people just cannot say no to buying this yellow metal. But do you know about the factors that influence gold rate in Coimbatore? Do you know how and why these prices rise or fall?
Here are a few factors that affect the gold rate in Coimbatore
There is no specific person or jeweller that determines the gold rate today in Coimbatore. To ensure transparency and accurate gold rate in the city, the Coimbatore Jewellers Association has come into being. The association consists of jewellers and goldsmiths who decide the gold rate for the day in Coimbatore. The members of the association check the ‘buy’ and ‘sell’ ratio and remove an average on the basis of which the gold rate is determined for the day. At the time of determining the gold rate, international trends, current exchange rate in terms of rupee and dollar, MCX futures and taxes levied on gold are also taken into consideration.
There is an array of gold investment options in Coimbatore that one can opt to get the best returns. While gold jewellery seems to be the best gold investment option, there are a number of other options available which one can opt for.
If you are looking to invest in Gold in Coimbatore, you sure do have a plethora of investment options. Since gold not only has an ornamental value but also is an excellent investment option, here are a few things that you need to check while buying gold in Coimbatore.
Who are the major gold dealers in Coimbatore?
Coimbatore is home to most of the well-known gold dealers such as Malabar Gold, Kalyan Jewellers, Josco Jewellers, Joyalukkas and Karpagam Jewellers.
What is today’s gold rate in Coimbatore?
You can check today gold rate in Coimbatore at the nearest jewellery store or go online for the same.
Can I buy gold at the old gold rate in Coimbatore?
No, you cannot buy gold in Coimbatore at an older gold rate and you will have to buy it as per the gold rate prevailing today in the city.
Is 22kt gold price today in Coimbatore different from 24kt gold rate?
Yes, 22kt gold price today in Coimbatore is less than the 24kt gold price in the city.