Gold is the desired metal among all but, you cannot expect gold rate following a particular trend. That is why, to keep you informed regarding Gold Rate in Salem we introduced charts. It lets you understand the Gold Rate in Salem Today, yesterday and the price changes.
In order to add clarity we have drawn tables and divided that into 2 columns, i.e. for 22 carat and 24 carat gold category.
We have also included the past gold price trend in the article as well. Therefore, now you can Find Gold Rate in Salem Live in this article only.
22 Carat Gold Rate in Salem – Gold Price in Salem Today
In this section, we have constructed the price fluctuation in 22 Carat Gold Rate in Salem.This type of gold is the fundamental one to make any type of gold Jewellery.
In this category, we have attached the precise figure of the gold price in Salem today, yesterday and the price change.
We also mentioned about the variation in the percentage change that projects the current performance of the price.
24 Carat Gold Rate in Salem Today – Gold Price in Salem
Pure 24-Carat Gold Rate in Salem is talked about in the table. It also shows the present status of the pure gold price in Salem.
We have elaborately included the price variation of the present day, yesterday and the percentage of change in terms of statistics.
Check out some amazing Gold Calculators
|Salem Gold Investment Calculator||Gold Rate Calculator of Salem|
|Gold Investment Comparison||Gold Rate Comparison|
Gold Price in Salem for Last 15 Days
Purchasers often stick to the idea of verifying the gold price fluctuation of the last few days. Now they do so that they can make the right buy.
Therefore, we are offering you a sneak peak of the 15 days gold price in Salem. Now this will help you have a precise thought on the price and you can work out on the present trend of the price as well.
Find Gold Rates of other Indian Cities & States
|Gold Rate in Kochi||Gold Rate in Chennai||Gold Rate in Kerala||Gold Rate in Mysore|
|Gold Rate in Bangalore||Gold Rate in Delhi||Gold Rate in Hyderabad||Gold Rate in Vizag|
|Gold Rate in Mumbai||Gold Rate in Pune||Gold Rate in Kolkata||Gold Rate in Jaipur|
Graph of Gold Rate Today in Salem – Also Past Gold Price in Salem
People interested in buying gold will consider the graphical demonstration of the gold price variation useful.
In order to help you, we have introduced the charts that represent present day price changes as well as the previous Gold Rate in Salem.
Gold Price in Salem – Past 6 Months Price
The whole movement of the Gold Rate in Salem for the past 6 months are documented in the section below.
August 2020, Gold rate movement in Salem
|Gold Rates in August 2020||22 Carat Gold Rate||24 Carat Gold Rate|
|01-08-2020||₹ 5,130||₹ 5,386|
|08-08-2020||₹ 5,427||₹ 5,696|
|15-08-2020||₹ 5,118||₹ 5,369|
|22-08-2020||₹ 5,051||₹ 5,302|
|31-08-2020||₹ 4,945||₹ 5,195|
|Highest Rate in August||₹ 5,427||₹ 5,696|
|Lowest Rate in August||₹ 4,913||₹ 5,163|
Gold rates are determined by the market forces of demand and supply. Both 22 carat and 24 carat gold are impacted equally. Although their purity rate differs, it is necessary to follow the changes in prices of both before you invest in the same. The below are key highlights for the month of August.
- The gold prices this month were fluctuating as compared to other reviving months this year.
- The price of gold as on the first day of the month is Rs. 5,130 per gram for 22 carat gold and Rs. 5,386 per gram for 24 carat gold in Salem.
- The highest price touched this month is Rs. 5,427 per gram and Rs. 5,696 per gram for 22 and 24 carat gold.
- And the lowest price is Rs. 4,913 per gram and Rs. 5,163 per gram for each of the categories respectively.
- The overall performance for each is calculated and set at 10.46% and 10.32% for 22 carat and 24 carat gold.
July 2020, Gold rate movement in Salem
|Gold Rates in July 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-07-2020||₹ 4,675||₹ 4,909|
|08-07-2020||₹ 4,684||₹ 4,914|
|15-07-2020||₹ 4,715||₹ 4,953|
|22-07-2020||₹ 4,792||₹ 5,030|
|31-07-2020||₹ 5,108||₹ 5,363|
|Highest Rate in July||₹ 5,108||₹ 5,363|
|Lowest Rate in July||₹ 4,613||₹ 4,847|
Looking at the fluctuation in gold prices is a very important factor that keeps ones portfolio intact. This section has all the important numbers for the gold rates in Salem for July 2020. Check the section below to know more.
- There is a stability in gold rates for both the categories for the month of July.
- The gold rate on the first day of the month is recorded as Rs. 4,675 per gram for 22 carat gold and Rs. 4,909 per gram for 24 carat gold.
- Highest rate for 22 carat gold was Rs. 5,108 per gram and for 24 carat gold was Rs. 5,363 per gram which was seen on the last day of the month.
- The lowest touched rate was Rs. 4,613 per gram for 22 carat gold and Rs. 4,847 for 24 carat gold.
- The overall recorded performance is 10.73% and 10.65% for both the categories.
June 2020, Gold Rate Movement in Salem
|Gold Rates in June 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-06-2020||₹ 4,513||₹ 4,739|
|08-06-2020||₹ 4,460||₹ 4,684|
|15-06-2020||₹ 4,537||₹ 4,765|
|22-06-2020||₹ 4,612||₹ 4,841|
|30-06-2020||₹ 4,632||₹ 4,860|
|Highest Rate in June||₹ 4,653||₹ 4,885|
|Lowest Rate in June||₹ 4,452||₹ 4,674|
The table drafted above gives a clear hint on the gold rate in Salem. We have elaborated on the price movements separately for the 22 carats and 24 carat gold. Precisely we have also added the percentage change along with the highest and lowest price for both the gold segments.
- The change in price pertaining to the major month intervals are noted.
- For each of sections that are for both the 22 carats and 24-carat gold, we have seen that the price changes at the end of the month.
- The highest rate for the 22 carat gold was Rs.4653
- Highest price point for the 24 carat gold was Rs.4885
- The lowest price for the 22 carat gold was Rs.4452
- On the other hand, the lowest price level for the 24 carat gold was Rs.4674
- The percentage change in the price for the 22 carat gold was 4.51%
- The performance of the price in terms of percentage for 24 carat gold is 4.51%.
May 2020, Gold Rates in Salem
|Gold Rates in May 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-05-2020||₹ 4,401||₹ 4,616|
|08-05-2020||₹ 4,361||₹ 4,582|
|15-05-2020||₹ 4,489||₹ 4,713|
|22-05-2020||₹ 4,491||₹ 4,719|
|31-05-2020||₹ 4,515||₹ 4,738|
|Highest Rate in May||₹ 4,589||₹ 4,820|
|Lowest Rate in May||₹ 4,348||₹ 4,564|
The table we have drafted above consists of the Gold Rates in Salem for the month of May. We constructed the columns to get the hint on the gold rate in Salem per gram for both the carat and 24 carat gold.
- Gold price is recorded at major intervals of time shows the vital changes in the price.
- The highest recorded price is Rs.4,589 for 22 carat gold and Rs.4,820 for 24 carat gold.
- At the same time, the lowest recorded price for 22 carat and 24 carat gold is Rs.4,348 and Rs.4,564.
- The price for both the gold segments that is 22 carat and 24 carat seemed to take a leap in the month-end.
- The overall price performance in terms of the percentage is 5.54% and 5.61%.
April 2020, Gold Rate Movement in Salem
|Gold Rates in Apr 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-04-2020||₹ 3,957||₹ 4,151|
|08-04-2020||₹ 3,954||₹ 4,158|
|15-04-2020||₹ 3,957||₹ 4,153|
|22-04-2020||₹ 4,491||₹ 4,714|
|30-04-2020||₹ 4,446||₹ 4,665|
|Highest Rate in Apr||₹ 4,537||₹ 4,764|
|Lowest Rate in Apr||₹ 3,953||₹ 4,151|
The month of April shows the Gold Rate Movement in Salem and that is what we have elaborated in the above table. It also consists of the Gold Rate in Salem per Gram for each of the gold divisions.
- The fluctuation in the price statistics on the vital intervals of the month is talked about in the table.
- The price trend of the gold seemed increasing towards the moth end for both the divisions of the gold.
- Highest recorded price for the 22 carat and 24 carat gold are Rs.4,537 and Rs.4,764.
- The lowest recorded gold price is Rs.3,953 and Rs.4,151 respectively.
- The end performance of the price pertaining to the percentage is 14.77%.
March 2020, Gold Rate Movement in Salem
|Gold Rates in Mar 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-03-2020||₹ 3,991||₹ 4,190|
|08-03-2020||₹ 4,211||₹ 4,422|
|15-03-2020||₹ 4,027||₹ 4,224|
|22-03-2020||₹ 3,972||₹ 4,168|
|30-03-2020||₹ 3,956||₹ 4,154|
|Highest Rate in Mar||₹ 4,234||₹ 4,445|
|Lowest Rate in Mar||₹ 3,840||₹ 4,031|
The movement of gold price in Salem for the month of March is described in the above table. For the reader’s convenience, we have enclosed the Gold price in Salem per gram for the entire month.
- The major prices recorded at different intervals are shown on the table based on the recorded price for each day.
- The major shift in the gold price was observed for the whole month but the highest trend was actually noticed in the middle of the month.
- Performance analysis for both the 22 carat and 24 carat gold is 10.26% and 10.27% accordingly.
- The lowest point of the recorded gold price for 22 carat and 24 carat gold is Rs.3,840 and Rs.4,031
- The highest point of the recorded gold price for 22 carat and 24 carat gold is Rs.4,234 and Rs.4,445.
February 2020, Gold Price Movement in Salem
|Gold Rates in Feb 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-02-2020||₹ 3,886||₹ 4,079|
|08-02-2020||₹ 3,873||₹ 4,065|
|15-02-2020||₹ 3,925||₹ 4,084|
|22-02-2020||₹ 4,079||₹ 4,279|
|29-02-2020||₹ 3,993||₹ 4,187|
|Highest Rate in Feb||₹ 4,104||₹ 4,310|
|Lowest Rate in Feb||₹ 3,845||₹ 4,035|
Here we have analyzed the 22 Carat Gold Rate in Salem for the month of February. So look at the Gold Rate in Salem per gram and check the movement of the gold price throughout the month.
- The frequency of the price movement is documented at the major time intervals.
- The price-performance of 22 carat and 24 carat gold in terms of percentage is 6.74% and 6.82%.
- Price trend of the gold followed a declining pattern across the whole month but the price trend showed a rising graph at the end of the month.
- The lowest price recorded for the 22 carat and 24 carat gold is Rs.3,845 and Rs.4,035.
- The highest price for the 22 carat gold was and for 24 carat gold was Rs.4,104 and Rs.4,310.
January 2020, Gold Price Movement in Salem
|Gold Rates in Jan 2020||22 Ct Gold Rate||24 Ct Gold Rate|
|01-01-2020||₹ 3,742||₹ 3,926|
|08-01-2020||₹ 3,937||₹ 4,128|
|15-01-2020||₹ 3,806||₹ 3,998|
|22-01-2020||₹ 3,811||₹ 4,003|
|30-01-2020||₹ 3,860||₹ 4,054|
|Highest Rate in Jan||₹ 3,937||₹ 4,128|
|Lowest Rate in Jan||₹ 3,736||₹ 3,923|
Take a close look at the 22 Carat Gold Price in Salem for the January month. Here we described the kind of shift that took place for the whole month. Also, we found out the frequent change in the Gold Price in Salem.
- The price trend seems to be low for the whole month specifically for the 22 carat gold.
- The table projects 5 different dates in regards to the price fluctuation of the price.
- Gold rate is more or less steady for the month as the lowest recorded price for 22 carat and 24 carat gold were Rs.3,736 and Rs.3,923.
- The highest recorded price for the 22 carat and 24 carat gold Rs.3,937 and Rs.4,128.
- The price-performance statistics were 5.38% and 5.23%.
December 2019, Gold Rate Movement in Salem
|Gold Rates in Dec 2019||22 Ct Gold Rate||24 Ct Gold Rate|
|01-12-2019||₹ 3,649||₹ 3,832|
|08-12-2019||₹ 3,613||₹ 3,800|
|15-12-2019||₹ 3,625||₹ 3,804|
|22-12-2019||₹ 3,642||₹ 3,825|
|30-12-2019||₹ 3,729||₹ 3,917|
|Highest Rate in Dec||₹ 3,740||₹ 3,931|
|Lowest Rate in Dec||₹ 3,593||₹ 3,773|
Here, the above table shows the last year estimation of the 24 Carat Gold Rate in Salem particularly, for the month of December.
To make this understanding easy actually, we have included two columns where the first column is about the 22 carat gold and the second column is about the 24 carat gold rates in Salem
- The low price trend can be seen for the whole month of December.
- Talking about the consistent factors that are also well observed in this month actually.
- On the lowest front, the gold price for the 22 carat and 24 carat gold are Rs.3,593 and Rs.3,773.
- On the highest front, the gold price of both the 22 carat and 24 carat gold are Rs.3,740 and Rs.3,931 respectively.
- The price performance of both the 22 carat and 24 carat gold are 4.09% and 4.19%.
Gold Rate in Salem – Trend in 2020
Taking into account the present happenings like the sudden outbreak of the deadly virus Corona as well as the trade contract between the Indian and China, it is considered highly accountable for causing the crucial drift in the Gold Rate Trend in Salem.
It was well witnessed at the start of the year. With the kick-start of the year, the gold price followed an increasing pattern but somehow the whole price just reached a stable margin and that is all due to the COVID 19.
Apart from that, you need to consider the fall of the stock market followed by the significant shift in the dollar price.
The month of March was the booming month of the gold price, as it reached the peak. It was because of the government’s initiative to come to terms with the COVID situation.
Check out Gold Rates of more cities & states
Gold Rate in Salem – Trend in 2019
The estimation for the Gold Rate Trend 2019 in Salem for the entire year 2019 has been summarised in this section. As you can see, the whole year price was in equilibrium, that means the rise and fall were almost steady.
The Historical Gold Rate in Salem projects the vital occurrences throughout the year 2019 and the fact is they influenced the price of the gold as well. The main cause for the same was the tussle between the China and USA.
Any vital decline in the gold rate is increased by the continuous demand for the gold. On the whole, you can see that the price fluctuation is due to the US value of the dollar.
What makes Gold Rates in Salem to increase?
Gold Rate in Salem as of today depends on the overseas and domestic scenarios. Events like the rise in the US dollar and the increase in the demand of the metal resulted in a shift in the gold rate. So let’s see why such things actually happen.
- When the rate of inflation is high, people have the tendency to buy more gold. Now that is the situation when the price of the gold rises up.
- If there is a change in price that is on both the domestic and international markets, then it is obvious that the gold price will fluctuate.
- The central bank of the prime countries intends to procure gold. In that situation, the price of the gold rises up.
- Indians have a special liking for the gold and during the festive periods that likeliness increases, as a result, the demand for the gold rises during the period of Diwali. Hence, the price of gold also increases.
- If the rate of the interest is low, then the price for the gold increases. It so happens because people find it better to have more gold, which is why in such cases the demand for the gold escalates.
What makes Gold Price in Salem to decrease?
Here we are stating some of the other reasons that justify the decline of the gold price in Salem. Follow the bullet points that we cited down below:
- When the market scenario is bearish then you will see a sharp decline in the price.
- The international market scenario can lead to a fall in gold prices.
- When the supply of the gold increases then it is obvious the demand for the metal will decrease. That is why the price of the gold will fall down.
- You know that the interest rate follows an inverse relationship with the gold price. That is why when the interest rate is more, the gold price declines. It is because people will rush after selling the gold to have more cash.
Why Central Bank Policies impacts Gold Rates in Salem?
As you know, the Central Bank consists of the Gold reserves as well as the currencies. But, the Central Bank is found to buy more of the majority of the gold. That simply raises the price of gold in the market. So here, you can see that they are shifting from paper currency to gold.
In this regard, note that that rise in the US dollar or the rise in the Indian currency definitely makes the gold a valuable asset for the investors.
Now, this is the reason why investors like to use gold as the hedging instrument so that they can come to terms with the rising Gold Price in Salem.
Other than that, rise in the government rates always attract the investors. Therefore, during such times the demand for the yellow metal automatically reduces, which eventually reduces the Gold rate in Salem Today.
Why Gold Price in Salem is different from other Cities?
The gold price is different in different areas now that are because of the local rates charged, logistics. Additionally, the local market condition and rise of the US dollar affect the gold price.
On this note, you can see that the international market condition determines the gold price. Now we are considering the gold price in Salem.
Remember that the price of the gold fluctuated due to underlined factors like the cost of the transportation or the hauling, the volume of the quantity purchased and the local association of the jewellers.
Overall these factors design the price format. Additionally, the Indian currency also impacts the gold price. Just remember if the gold price is less then obviously the gold price will fall.
What is Gold Rate in Salem 916 Hallmark gold?
The 22 carat gold rates refer to the 916 gold. The 91.6 grams of gold represents the purity of the gold on the final product.
Now the jewellery makers need to assure that this mark is there on the jewellery adhering to the BIS regulation. Hallmark sign on the gold assures that the gold abides by the purity norms.
Therefore gold rate in Salem 916 actually determines only 22 carat gold. It actually signifies that 91.6 grams of gold are present in 100 grams of alloy.
This symbolizes the purity of the gold. The manufacturer uses this 22 carat gold and assures that the sculpture design would be the same as that of the 24 carat jewellery.
Find out Gold Rates of more Indian Cities & States
How much is the Tax Levied on Gold Rate in Salem?
Different types of rates and tax is levied on the yellow metal. But government imposed 3% on the gold and 5% on the making charge. The making charge changes from one seller to another. Therefore, a definite charge was fixed on the final output.
The government also fixes the tax on the gold rate in Salem. The government charges 5% Goods and services tax, which is charged, by the seller and that will is constant.
Gold Rate in Salem – Conclusion
We have conscripted the article, to give you a detailed clue on the Gold Rate in Salem. We also described all the factors affecting the gold price.
Also, we tried to give you a sneak peek into vital determinants of the gold rate for both the 22 carat and 24 carat. Moreover, we also attached the reports pertaining to the Today Gold Rate in Salem.
Most Read Articles