Steel City Salem also popular for mango cultivation is an important industrial city of the state of Tamil Nadu. Investment in Gold is hence constantly searched by readers. The Today Gold rates in Salem are sourced directly from jewellers and agencies from Salem. Gold rates for Salem in 1 gram, 8 grams, 10 grams and 100 grams helps readers plan their investment. The last 7 days and last 30 days rates tracker for Salem and nearby towns should help gold jewellers and prospective customers. Rates mentioned on this page are exclusive of GST and making charges.
Gold rate changes in Salem:
You will be surprised to note that gold rates in Salem can change at least twice a day. These rates are usually derived from international standards because Gold needed for jewellery-making has to be imported. For 24-karat gold rates, the local associations and agencies depend upon the national or Chennai gold rates. In recent times, Salem rates have been on the higher end than Chennai by a margin of a few hundred rupees per tola. Such differences are attributed to logistics, margins, and handling charges.
The 22-Karat gold rates at jewellers within the same locality can also change by a good margin. This is owing to availability of gold for jewellery and other factors such as making charge, wastage, melting charges, refiner margins etc. Jewelry shops adjacent to each other within Salem can quote a difference of Rs 30 to 40 per gram. These changes in impurities added (Platinum, Palladium, Silver, Nickel, Aluminum, Iron) along with changes in transportation, logistics, expenses incurred on security, changes in business operations, and finally the margins are responsible for the difference in jewellery rates in Salem.
Buying Gold in Salem:
Unlike other districts of central Tamil Nadu, Salem has a rich industrious aspect attached to it. It has a rich textile industry and among the newer developments has a Steel and Aluminum processing plant. Salem also has an IT park and Special Economic Zone functional at Vellakalpatti. With the advancement of technology and availability of banking and broking services, many Salem residents have taken to investments in electronic gold trading formats such as ETFs or Sovereign Gold Bonds. The elder generation is savvy when it comes to investing in physical gold such as bullion (bars and coins) and jewellery.
Where can I find trustworthy and popular jewellers in Salem?
You will find jewellers across Salem district, but the top ones such as Khazana Jewellery are based out of Swarnapuri. The lane starting from Salem New Bus Stand to Crome Store near Salem Castle has a number of popular jewellers. There are at least two stores of Kalyan Jewellers – one at Thashildar Colony and a My Kalyan Mini Store at Omalur. At Omalur, many jewelry avenues can be found at Bazar Street. You will also find jewellers at Kamaraja Nagar in Dharmapuri Main road.
Among the oldest jewellers, you will find ANS Jewellery, established in 1928, by AR Balasubramania Chettiar as among the heritage jeweller from Salem. Another popular name in Salem is AVR Swarna Mahal established by AV Ramachandran Chettiar. AVR’s roots are from Kumbakonam and the presence in Salem itself is as old 1928. The AVR showroom in Swarnapuri in Salem is reportedly as massive as 25,000 sq feet and promises 100 percent hallmarked jewellery. The group has presence in 16 locations spanning states of Tamil Nadu, Karnataka, and the UT of Puducherry.
While buying jewellery we recommend buyers to negotiate on the per gram gold rate, seek a bill and check for hallmark mentioning the purity of jewellery.
Why you should track authentic rates:
In these days of market-competition and digitization, investment in Gold or bullion can safeguard hard-earned money from inflation. A general advice is to allocate 10 to 15 percent of savings in gold and gold-backed instruments for a good financial portfolio. The gold rates in Salem is a way to enable customers access the latest and authentic gold rates. Having the latest and authentic rates helps plan and negotiate during buying and selling of gold and jewellery. Knowing the latest market rates also helps while seeking 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 gold rates minutely 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.