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The price of gold across Indian cities and states differ. Forbes Advisor has put together the gold price of one and 10 grams of 24-Carat and 22-Carat pure gold in Chennai today, as of 9:35 am.
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Gold Rate In Chennai (August 27, 2024)
Today 22 Carat Gold Price in Chennai (Per Gram)
Today 24 Carat Gold Price in Chennai (Per Gram)
Gold Rates in Chennai for the Last 10 Days (Per Gram)
Compare 22K & 24K Gold Rate In Chennai (Yesterday & August 27, 2024)
Monthly Graph of Gold Rate in Chennai (22 Carat gold)
Monthly Graph of Gold Rate in Chennai (24 Carat gold)
Gold Rate In India Today: August 27, 2024
Where to Buy Gold in Chennai?
Physical gold
Physical gold can be obtained from jewelers, retailers, and even financial institutions, such as banks.
Gold saving schemes
Gold saving schemes are opted by individuals who agree to purchase gold by depositing a certain amount every month for a specific tenure. Jewelers usually pay the last installment in such a scheme.
Sovereign gold bonds
RBI issues SGBs and notifies its terms and conditions, calendar for subscription, its rate. A minimum subscription fee of sovereign gold bonds is one gram of gold and maximum up to 4 kgs.
Digital gold
Various forms of investing in digital gold include buying:
- Gold exchange traded funds (ETFs): ETF involves investing in the stock market, with its value backed by pure physical gold. Its value is based on current gold prices and gold bullion. One gold ETF unit is equal to 1 gram of gold.
- Gold accumulation plan: Mobile wallets, such as Paytm and Phonepe, allow consumers to buy digital gold upon monthly investment and accumulate physical gold over a period of time.
Where to Sell Gold in Chennai?
Retailers buy physical gold from individuals upon verifying the bill of purchase. Though it takes into account the gold’s weight and current rates, jewelers agree to buy on their own terms and added cost.
Gold loan: Banks offer lenders loans against gold as a collateral. The interest rates on gold loans are levied upon the principal amount agreed by individuals to pay as the EMI.
Frequently Asked Questions (FAQs)
What are the best ways to check gold purity?
BIS hallmark is the best way to guarantee the purity or fineness of your gold. Here’s the purity or fineness scale in gold:
• 24K = 99.9% Purity
• 22K = 91.6% Purity
• 18K = 75% Purity
• 14K = 58.5% Purity
• 12K = 50% Purity
• 9K = 37.5% Purity
If your 24K gold is 99.9% Purity, other metal constitutes only 0.1%.