Gold Rate in Salem

25th Sep 2018

30,240.00

Today MCX gold price in rupees per 10 grams.

Today gold price in Salem is 30240 rupees per 10 grams
(10 grams = 1 tola gold)

22 Carat Gold
Rs. 29360
24 Carat Gold
Rs. 30240

22 Carat & 24 Carat Gold Rate in Salem Per Gram (INR)

  22-Carat 24-Carat Change(%)
Yesterday 2936.00 3024.00 0 %
Today 2930.00 3018.00 0 %

Today 24 Carat Gold Price per gram in Salem (INR)

Gram 24 Carat Gold Yesterday24 Carat Gold Today Daily Price Change
1 Gram Rs 3024.00Rs 3018.00
8 Gram Rs 24192Rs 24144
10 Gram Rs 30240Rs 30180
100 Gram Rs 302400Rs 301800

Today 22 Carat Gold Price per gram in Salem (INR)

Gram 22 Carat Gold Yesterday22 Carat Gold Today Daily Price Change
1 Gram Rs 2936.00Rs 2930.00
8 Gram Rs 23488Rs 23440
10 Gram Rs 29360Rs 29300
100 Gram Rs 293600Rs 293000

Today Gold Rate in Salem

Gold is purchased in Salem mainly for the purpose of jewelry during weddings and other festivities. The demand for gold is more during festivals like Dhanteras and AkshayaTritiya. Besides jewelry, gold is also used to dodge inflation in Salem.

Salem gold rate varies according to many global factors like oil prices, the price of dollar, gold imports and many others. The Gold rates in Salem reached a 4-year low this year and reached a five-year low in the world this year. Today’s gold rate in Salem is not likely to rise in the near future according to financial experts. The reason behind this is the looming hike in interest rates by the US Fed and Greece’s financial crisis.

The maximum demand for gold in Salem is during the wedding season and that too from the rural areas. Crop failure, bad monsoon and a reduction in the rural purchasing power will hit gold sales in Salem.

22 & 24 Carat Gold Rate in Salem for Last 10 Days

Year
STANDARD GOLD 22K
1 GRAM 10 GRAM
PURE GOLD 24K
1 GRAM 10 GRAM
25 September 2018 Rs. 2936.00 Rs. 29360 Rs. 3024.00 Rs. 30240
24 September 2018 Rs. 2930.00 Rs. 29300 Rs. 3018.00 Rs. 30180
23 September 2018 Rs. 2930.00 Rs. 29300 Rs. 3018.00 Rs. 30180
22 September 2018 Rs. 2936.00 Rs. 29360 Rs. 3024.00 Rs. 30240
21 September 2018 Rs. 2936.00 Rs. 29360 Rs. 3024.00 Rs. 30240
20 September 2018 Rs. 2936.00 Rs. 29360 Rs. 3024.00 Rs. 30240
19 September 2018 Rs. 2936.00 Rs. 29360 Rs. 3024.00 Rs. 30240
18 September 2018 Rs. 2935.00 Rs. 29350 Rs. 3023.00 Rs. 30230
17 September 2018 Rs. 2920.00 Rs. 29200 Rs. 3008.00 Rs. 30080

Comparison of 22 K & 24 K Gold Rates in Salem

Historical Price of Gold Rate in Salem

Gold Price in Salem

Gold price in Salem depends on international factors like import of gold, dollar strength, global oil price among all other reasons. This year particularly, the rate of gold had witnessed a 4-year low in India and a 5-year low worldwide. The experts in the industry claim that the gold prices are unlikely to go higher due to Greece’s default crisis and the increase in the interest rates by the US Fed. Interestingly, rural India shows almost 60% of the demand for imported gold.

What Affects the Gold Rates in Salem?

Gold sales are directly in line with the rural purchasing power. Disasters like a bad monsoon and crop failure drastically affect the demand. Salem is known for its craftsmanship making traditional jewelry. Like other cities, jewelers in Salem also offer hallmarked jewelry and gold articles which are best for all festive occasions.

In What Ways Can Gold be Purchased?

Consumers in Salem buy traditional gold jewelry for festivals and weddings. Salem Gold Price fluctuates especially on auspicious occasions like Akshaya Tritiya and Dhanteras. Gold in Salem can be purchased from retail as coins, bullion, and as ornaments. The precious metal is the preferred choice that is traditionally imposed on generations to be a part of all occasions. Gold is also a safe hedge against inflation other than being a physical asset and is viewed as the safest investment option.

What is an ETF?

Gold exchange traded funds (ETFs) are also a smart way to invest in physical gold. ETFs offer more liquidity with ease of storage. Gold ETFs are, however, on the low side due to prices falling in India as well as worldwide. Salem is seeing a fall in gold rates due to a decrease in demand.