Namakkal or the Egg City of India has an economy primarily driven around agriculture, transportation and poultry (produces nearly 3.5 crore eggs every day). The Today Gold rates in Namakkal are sourced directly from jewellers and agencies such as banks from the district. To benefit readers, gold rates in Namakkal are presented in 1 gram, 8 grams, 10 grams and 100 grams. Gold buyers and jewellers can also analyze the weekly and monthly trends on this page. The rates on this page are valid for cities in Namakkal such as Rasipuram, Tiruchengode and other neighboring villages and cities. The rates in neighboring city of Karur could be similar. Rates mentioned are exclusive of GST and making charges.
Gold Popularity in Namakkal?
Gold is indeed a popular investment asset in Namakkal given the industrious nature of the district. Besides a strong egg-production centre (65 percent of TamilNadu’s egg production is from Namakkal), the district is also home to Tiruchengode’s lorry and body-building workshop is as old as 1950s.
Among residents, the educated business class reportedly prefers ETFs and Sovereign Gold Bonds for the ease in tracking their returns. Credit for imparting knowledge also goes to several banks and broking agencies in and around Namakkal who regularly remind their customers to invest in several schemes. Jewellery obviously has an important place and is purchased ahead of festive occasions. The not-so savvy investors, however, prefer physical Gold in the form of bullion (coins are most preferred) according to an industry estimate. Many investors also opt for the monthly savings schemes of trusted jewellers.
Changes in Gold Rates in Namakkal:
Gold rates in Namakkal can change at least two times in a day. The trend is similar across India. The change in gold-rates in Namakkal is attributed to international factors. The rates of 24-Karat Gold are based on the currency rate and the nearest port landing price of Gold. You should know that the rates for 24-Karat variants are determined locally by agencies such as banks and associations.
You will be surprised to know of adjacent jewelry shops quoting a price difference of Rs 5 to 10 per gram. For 22-Karat Gold, the rates are factored by leading jewellers and associations. While, the base rate of Gold remains more or less constant, factors such as making charge, wastage, melting charges, refiner margins etc change at jewellers and hence causes rate variance. The difference in 22-Karat gold rates also arises from the change in procurement price of other elements such as Platinum, Palladium, Silver, Nickel, Aluminum, and Iron. Changes in transportation, logistics, expenses incurred on security, business operations, and finally the margins are also responsible for the differences in jewellery or 22 Karat gold rates in Namakkal.
Trustworthy and popular jewellers of Namakkal?
The Bazaar street near Kamaraj Nagar in Periyapatti in Namakkal has at least 10 prominent jewellers. You will come across leading names such as Thangamayil Jewellery and Sree Kumaran Thangamaligai on R.P. Pudur on the Salem-Namakkal road. We usually advice our readers to understand designs, check for hallmarks, and understand the billing prior to a transaction.
Why subscribe to authentic rates:
In these days of market-competition and digitization, investment in Gold or bullion can safeguard hard-earned money from inflation. It is advised that each individual building a financial portfolio should allocate 10 to 15 percent of his or her savings in gold and gold-backed assets. The gold rates in Namakkal is a way to enable customers access the latest and authentic gold rates. Having this information enables buyers to accordingly plan and negotiate during buying-selling transactions. Knowing the accurate rate also helps during a gold loan. Bookmark this page or download Sify Gold rates app to find out the latest and most accurate gold rates in prominent cities across India. Sify also tracks the happenings from international gold markets and features news and analysis from industry veterans to guide readers.
Disclaimer: Sify.com showcases news, analysis and gold rates with the sole objective of financial prosperity for all. The rates mentioned may vary within the same city and readers are hence advised to consult with a registered financial advisor. For any complaints, feedback, opinions or to share experiences write to firstname.lastname@example.org with the subject – Gold / Bullion.