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Today’s Gold Rate in Erode

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Today Gold Rate in Erode is Rs. 50,950.00 per 10 grams for 24 Karat
(10 grams = 1 tola gold)

Rs. 50,950.00

( 24 Karat, 10 grams )
24 Karat, 10 grams
Gold Price for Today Rs. 50,950.00
Gold Price for Yesterday Rs. 51,324.00

22 Karat, 10 grams
Gold Price for Today Rs. 47,250.00
Gold Price for Yesterday Rs. 47,500.00
Updated: 12-02-2020 05:47:03 AM

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.

Trend of Gold Rate in Erode for last 10 days


Date24 Karat Gold Rs / 10 gm22 Karat Gold Rs / 10 gm
24th October 2020 Rs. 50,950.00 Rs. 47,250.00
23rd October 2020 Rs. 51,324.00 Rs. 47,500.00
22nd October 2020 Rs. 50,800.00 Rs. 47,050.00
21st October 2020 Rs. 50,569.00 Rs. 46,765.00
20th October 2020 Rs. 50,524.00 Rs. 47,500.00
19th October 2020 Rs. 50,970.00 Rs. 48,500.00
18th October 2020 Rs. 50,970.00 Rs. 48,500.00
17th October 2020 Rs. 50,970.00 Rs. 48,500.00
16th October 2020 Rs. 51,019.00 Rs. 48,500.00
15th October 2020 Rs. 50,737.00 Rs. 48,150.00
Also Check For:

Gold Rate Today : Hyderabad | Kerala | Mumbai | Delhi | Bangalore | Pune | Kolkata | Chennai

Silver Rate Today : Bangalore | Hyderabad | Delhi | Chennai | Mumbai | Ahmedabad | Jaipur

Last 4 Months of Gold Rate Trend in Erode
Factors affecting gold rate in Erode

Last 4 Months of Gold Rate Trend in Erode

Gold Price Trend in September 2020
Trend24 Karat Gold (Rs/10gm)
Rate on 01-September-202051,447.00
Rate on 30-September-202050,268.00
Highest Rate51,938.00
Lowest Rate49,747.00
Month PerformanceRising
% Change2.29 %
Gold Price Trend in August 2020
Trend24 Karat Gold (Rs/10gm)
Rate on 01-August-202053,739.00
Rate on 31-August-202051,320.00
Highest Rate56,421.00
Lowest Rate50,614.00
Month PerformanceRising
% Change4.50 %
Gold Price Trend in July 2020
Trend24 Karat Gold (Rs/10gm)
Rate on 01-July-202047,936.00
Rate on 31-July-202053,396.00
Highest Rate53,396.00
Lowest Rate47,720.00
Month PerformanceDecline
% Change-11.39 %
Gold Price Trend in June 2020
Trend24 Karat Gold (Rs/10gm)
Rate on 24-June-202047,703.00
Rate on 30-June-202047,928.00
Highest Rate47,928.00
Lowest Rate47,555.00
Month PerformanceDecline
% Change-0.47 %

Factors affecting gold rate in Erode

  • Expectations in the US federal Interest rate hike in March
  • Low demand of gold in Erode and other nearby cities of Tamil Nadu
  • Strong US dollar further reduced the price of gold in Erode
  • Technical corrections in the gold market
  • Changes in import and export taxes and other local taxes
  • Proximity of the wedding season in the area
  • Other religious ceremonies increase the demand of gold in Erode and hence the price.

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.

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