Gold Price Today in Chennai GRT January 2023

Gold is an investment for Indians! Particularly in South India, Ladies are wearing Gold jewelry on their necks, ear, hand, and nose! Gold is the most attractive metal for ladies in India! that’s why the gold price is also high and fluctuates! Gold jewelry wearing is not only fashionable but also social recognition. You can watch all types of gold jewelry available in that region at a marriage function in India! Gold prices are not at all the same across India.

Gold may be used as an attraction in jewelry, but it has been one of the safest investment options for centuries. Gold works as a safety net during tough times. During economic turmoil, gold is always a good investment option, a hedge to fall back on, compared to other safe options like bank FD. When you compare the price of gold with inflation in the last 50 years, you would observe the highest correlation. Gold has always given bit superior returns than inflation. So, that’s it about gold rates in India.

There are multiple factors responsible for the difference in gold prices in different cities and states in India: The final cost of gold includes transportation costs, so interior cities incur higher costs to sell the gold. Apart from that, buying a bulk quantity of gold reduces the price. The local jewelers’ association decides the final price. Like, in Tamil Nadu, the Madras Jewellers and Diamond Merchants’ Association decides the gold price. The demand and supply of gold also fluctuate gold prices in the local market.

Overall, South India accounts for 40% of total gold purchases in the country. Out of the southern states, Kerala is the highest gold-consuming state in India, with the highest monthly per capita expenditure on gold. The reason for this high level of consumption is deeply rooted in the state’s culture. Gold is highly associated with festivals, traditions, and social occasions like weddings in Kerala and throughout South India

One of the biggest and most reliable showrooms in Chennai is G.R.Thanga Maligai. Selling of Gold, Sliver, and Diamonds at a nominal price. The latest list of GRT Thanga Maligai Branches in Chennai (Tamil Nadu)

Small Savings in Gold Savings Plan 2022: Almost all Jewelers shops in Tamil Nadu has own small savings scheme for their customers!