Gold Rate in Salem

Array ( [0] => Array ( [date] => 2017-10-18 [city] => salem [22_c_1_gm] => 2827.00 [24_c_1_gm] => 3015.00 [last_updated] => ) [1] => Array ( [date] => 2017-10-17 [city] => salem [22_c_1_gm] => 2850.00 [24_c_1_gm] => 3038.00 [last_updated] => ) )

18th Oct 2017

30,150.00

Today MCX gold price in rupees per 10 grams.

Today gold price in Salem is 30150 rupees per 10 grams
(10 grams = 1 tola gold)

22 Carat Gold
Rs. 28270
24 Carat Gold
Rs. 30150

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

  22-Carat 24-Carat Change(%)
Yesterday 2827.00 3015.00 0 %
Today 2850.00 3038.00 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 3015.00Rs 3038.00
8 Gram Rs 24120Rs 24304
10 Gram Rs 30150Rs 30380
100 Gram Rs 301500Rs 303800

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

Gram 22 Carat Gold Yesterday22 Carat Gold Today Daily Price Change
1 Gram Rs 2827.00Rs 2850.00
8 Gram Rs 22616Rs 22800
10 Gram Rs 28270Rs 28500
100 Gram Rs 282700Rs 285000

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
18 October 2017 Rs. 2827.00 Rs. 28270 Rs. 3015.00 Rs. 30150
17 October 2017 Rs. 2850.00 Rs. 28500 Rs. 3038.00 Rs. 30380
16 October 2017 Rs. 2860.00 Rs. 28600 Rs. 3048.00 Rs. 30480
15 October 2017 Rs. 2860.00 Rs. 28600 Rs. 3048.00 Rs. 30480
14 October 2017 Rs. 2834.00 Rs. 28340 Rs. 3022.00 Rs. 30220
13 October 2017 Rs. 2843.00 Rs. 28430 Rs. 3031.00 Rs. 30310
11 October 2017 Rs. 2839.00 Rs. 28390 Rs. 3027.00 Rs. 30270
10 October 2017 Rs. 2830.00 Rs. 28300 Rs. 3018.00 Rs. 30180

Comparison of 22 K & 24 K Gold Rates in Salem

Historical Price of Gold Rate in Salem

Gold Rate 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.