close btn

Service Update- (Covid-19)

In accordance with the respective state government’s directive, we’ve resumed operations in all the cities. However, a few services will remain affected while others will continue as usual. To read about the services or moratorium updates, Click here

Gold Price in Erode today -
last updated on

Erode

Erode, situated on the banks of rivers Cauvery and Bhavani can be located 400 kms southwest of Chennai. The booming textile manufacturing industry has earned it the moniker Loom City of India. Since it is situated on the fertile Cauvery river basin, agriculture too promotes the growth of economy here apart from BPOs. Knitwear, handloom, and turmeric are produced in large scale contributing to lion’s share of the economy. A traditional state by culture, people in Erode fancy gold ornaments for weddings and to save them up as investments. This is why gold rate in Erode is a key factor that is considered by customers when they are buying or applying for gold loan. Erode is also home to many architectural marvels worth exploring like Thindal Murugan Temple, Natadreeswarar Temple, Sangameswarar Temple, and Periya Mariamman Temple which are the religious sites in the city. Apart from these Vellore bird sanctuary, Thanthai Periyar memorial house, and Sankagiri fort are some of the popular tourist spots

Gold Price in Major Cities

City Gold Price Change

Take a pre-approved gold loan at the comfort of your home

approved badge
  • monthly interest

    0.79%* monthly Interest (9.69% P.A.)*

    Save more with low interest rate
  • per gram rate

    Highest Per Gram Rate Guaranteed

    Get the true value of your Gold
  • trophy

    GooglePlay 4.8+

    High Ratings 13,000+ Reviews
Please enter valid Mobile Number

Gold Prices in Erode for different purity

Purity
Gold price 1 gram Gold price 10 gram

Gold Prices in Erode for last 7 days

Date Gold price 1 gram Gold price 10 gram

KDM vs Hallmark gold - What's the difference?

The purity of the gold and the quality of the gold are two different factors that people often get confused over. Hallmark gold and KDM gold are the two types of gold that usually leads to some confusion. The two types of gold are considerably different with regards to their composition. The KDM gold has a purity level of 92%, where the gold is a mixture of 8% of cadmium and 92% of gold. Since there are some health risks associated with KDM gold, it is no longer in sale in the market. On the other hand, Hallmark gold has a certification by the Bureau of Indian Standards. The Hallmark gold is testes in assaying centers approved by the BIS. There are four varieties of hallmark gold: 23 karat, 22 karat, 21 karat and 18 karat. The purity of the gold is directly proportional to the karat rate. The higher the karat rate, the higher the purity.

How to calculate old gold jewellery price?

Gold has always been one of the most significant investment options for Indians. The high liquidity of gold and its consistent value makes it a popular option for investment purposes. It also acts as a hedge against fluctuations in the market. Gold can either be pledged in the form of a gold loan or it can be sold to meet urgent financial deficits. It pays to be aware of the value of gold to prevent unscrupulous activities by the lenders or jewelers. It is not very complicated to calculate the value of the gold. The weight and the purity of the gold will have to be tested at an assaying laboratory. There are two methods to calculate the purity of the gold. It can be denoted in percentage or in karat.

  1. Karat method: By multiplying the gold’s weight, purity, and gold rate, and then dividing it by 24, you can arrive at the purity of the gold by the karat method.
  1. Percentage method: By multiplying the gold’s weight, purity, and gold rate, and then by dividing it by 100, you can arrive at the value of the gold in terms of the percentage.

Benefits of investing in gold

In its 3000 year history of trade, the price of gold has never dipped below zero. This is a very compelling fact when you pit gold against cash, whose value keeps is in a constant state of flux. This is only one of several reasons to put your gold to good use! Some of the other benefits of investing in gold are:

1) High Yield Returns: Gold is the best choice of investment if one is looking to make a low-risk investment for a high yield return.

2) Demand for Gold: In the wake of gold ETFs and Sovereign Gold bonds, the demand for gold has been constantly increasing.

3) Hedge Function- Gold functions as a hedging instrument against financial market fluctuations. This makes it a safe bet in the face of recession.

4) Liquid Asset- Being a liquid asset that can be transported and stored anywhere, gold can easily be sold or pledged against an instant loan.

5) Authenticity- Gold is a precious metal well known for its purity and value. This makes it easy to recognize high-quality gold which can simply be bought after verifying if the seller is authorized to do so.



Why is Gold considered a Precious Metal?

Gold derives this value from several factors, some of which are listed below:

  • Rarity

Gold, in its elemental form, is a relatively hefty atom. Although it is not the rarest of metals, it isn’t easy to find and extract gold in large quantities. This contributes to its high perceived value.

  • Demand-Supply Disparity

Gold is a highly coveted metal in a county like India. So, it generally enjoys a high demand all year round, but its supply falls short to meet that. As a result, gold prices tend to increase with time.

  • Liquidity

One of gold’s many attractive aspects is its liquidity. Gold has an active, reliable and a ready market of buyers at almost all times. As a result, it can be readily converted to cash, which makes it a highly liquid asset.

  • Standard of Exchange

It is universally accepted as a commodity of value, especially under a free market system. Gold reserves ensure the strength and stability of the currency and eliminate the pitfalls of fiat money.

Gold Price Calculator

Dummy image
gold img
Apply for Gold Loan 30 Minutes Doorstep Service
close
+91
Please enter valid Mobile Number
close
success img

Loan Request Successful

Your request has been received, our customer relationship manager has been notified and will call you shortly

Erode
Tamil Nadu
city
[{"state":"Uttar Pradesh","city":"Meerut"},{"state":"Punjab","city":"Jalandhar"},{"state":"Karnataka","city":"Mangalore"},{"state":"Telangana","city":"Karimnagar"}]