
Today Gold Rate in Erode is Rs. 0.00 per 10 grams for 24 Karat
(10 grams = 1 tola gold)
Today Gold Rate in Erode is Rs. 0.00 per 10 grams for 24 Karat
(10 grams = 1 tola gold)
Erode is a very famous city located in the states of Tamil Nadu. The city is famous for its coconut market and is also the largest producer of turmeric in India. It is a land of lot of religious places and temples and thus attracts thousands of devotees and people throughout the country. It has a booming textile and agriculture industry that provides good employment opportunities to majority of the population of the town. Because of this, they have a good purchasing power even to buy precious metals like gold.
People of Erode have a special connection for gold. The consumption of gold in Erode is very high as compared to rest of the state. People willingly invest into gold as it is a very good investment option in India. Like many other cities of the country, gold has a promising demand in Erode as well. The city has a promising number of gold jewellers spread across as the demand of gold in Erode is really high.
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Gold Buying Pattern in Erode
Most of the people view gold as a commodity in the gold market and hence gold is transacted on a large scale in Erode. However, many people consider gold as a means of investment as well. The gold buying behaviour as observed with the population of Erode is classified into 3 major areas:
Gold Jewellery: This is the most widely purchased form of gold in Erode. During wedding season, festivals or any religious offerings, people of Erode love to buy gold jewellery and ornaments. However, the price of jewellery is higher than that of actual gold because of the making charges.
Gold Coins and Bullion: Another very popular form of gold purchased in Erode is gold bullion and gold coins. While the bullion is the purest form of gold, gold coins are relatively cheaper than gold bullions. This is one way in which people invest heavily in gold.
Market Trade: People also invest in gold trading by way of ETFs, gold futures and E-gold. Although this form is not very popular in India, people still prefer to invest in this form due to its good return in future.