Thiruvallur

Gold Price in Thiruvallur today -
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Thiruvallur

Thiruvallur, one of the rapidly-growing cities in Tamil Nadu is just 46 km away from metropolitan city Chennai, and lies on the banks of River Cooum. Though it is not officially the temple town of Tamil Nadu it boasts of temples in various sizes and shapes, the most renowned being the Lord Veeraraghava Temple. The sheer number of temples in this city make it a popular tourist attraction with places like Sri Panchamukha Hanuman's 40-feet tall statue, the Veeraraghava Perumal temple pool, the Poondi Reservoir, Maha Prathiyamgira temple, and Sri Theertheswarar Dewasthanam drawing visitors locally, nationally and internationally as well. Millions flock to the city for its popular Aadi Krittikai and Padi Bhujai festivals. Its proximity to the state capital, and religious pilgrimage Tirupati keeps the city always teeming with vehicular movement and activity. Global organisations like Mitsubishi Lancer, Caterpillar, Hindustan Motors, Coca Cola, Delphi TVS, Hanil Lear, Kingfisher, TI India, and TCL having their manufacturing facilities in the city, making Thiruvallur the industrial belt. This city in southern state of Tamil Nadu prides in the possession of gold and hence gold rate in Thiruvallur is followed by many.

Gold Prices in Thiruvallur for different purity

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Gold Prices in Thiruvallur for last 7 days

Date Gold price 1 gram Gold price 10 gram

Gold Price in Major Cities

City Gold Price Change

Difference between 18 Karat, 22 Karat and 24 Karat gold

'Karat' represents the proportion of gold present in an alloy. It indicates the fineness of gold, which implies that the higher the karat, the more the purity of gold.

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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?

If there was another indicator to measure wealth in the world, barring currency, it would be gold. It is one of the nine noble metals, but gold’s value in the economy surpasses that of its counterparts. But the exploration and extraction of gold is a slow-moving, laborious process.

However, this metal still has a readily available market across the globe, which increases its liquidity, thereby making it an ideal asset. Owners of gold articles have the freedom to convert them into cash with ease.

Moreover, gold is a luxury good, which means that people purchase it in larger quantities when their income rises. Therefore, this yellow metal generally exhibits a steady increase due to high demand and inadequate supply, especially in a country like India. Most free-market economies of the world use gold reserves to hedge against inflation. As a result, this metal possesses an intrinsic value in the global economy as well.

Effect of GST on Gold Prices.

Goods and Services Tax has unified the earlier payable taxes like Value Added Tax (VAT), Customs duty, Central Excise duty, etc., and the whole indirect tax structure has been brought under one umbrella.

  • GST on Gold

GST on gold is levied when individuals opt for buying gold jewellery or bars. Individuals need to pay several taxes depending on the various processes involved in gold trading, manufacturing, and purchasing. To be precise, individuals need to pay GST of 5% on making charges, 10% on import duty and 3% on gold. However, the GST on making charges is a product of the new tax regime.

  • Impact of GST on Gold Prices

The new tax structure and implementation of several taxes have made gold expensive by 0.75%. Apart from the impact on gold prices, GST has stretched its effects on gold imports as well as across the organised and unorganised sectors, which are invariably linked with the increasing price of gold. 

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Thiruvallur
Tamil Nadu
city
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