Tamil Nadu, known for its cultural affinity for gold, experiences daily gold price fluctuations. Understanding these trends is crucial for both investors and consumers. This article analyses the historical gold rate trends in Tamil Nadu for 2024, providing insights into monthly fluctuations and investment avenues.
The tables below showcase the monthly gold price trends in Tamil Nadu for 24-karat gold (rates per gram). Each table details the highest and lowest rates for the month, along with the overall performance (incline or decline) and percentage change.
Gold Rate Trends in Tamil Nadu – 2024 (Rates per gram for 24 karat gold)
December 2024
| Parameter | Gold price (24 karat) |
|---|---|
| 1st December 2024 Rate | Rs.7,508 per gram |
| 31st December 2024 Rate | Rs. 7,466 per gram |
| Highest Rate in December | Rs. 7,649 per gram on 11 December and 12 December 2024 |
| Lowest Rate in December | Rs. 7,392 per gram on 20 December 2024 |
| Overall Performance | Decline |
| Percentage Change | -0.55% |
December 2024 witnessed a slight decline in gold prices in Tamil Nadu. While the price started at Rs.7,508 per gram, it ended the month at Rs.7,466, showing a minor decrease.
November 2024
| Parameter | Gold price (24 karat) |
|---|---|
| 1st November 2024 Rate | Rs.7,754 per gram |
| 30th November 2024 Rate | Rs. 7,508 per gram |
| Highest Rate in November | Rs. 7,754 per gram on 1 November 2024 |
| Lowest Rate in November | Rs. 7,282 per gram on 14 November, 16 November, and 17 November 2024 |
| Overall Performance | Decline |
| Percentage Change | -3.17% |
November experienced a more significant decline compared to December, with the gold price dropping from Rs.7,754 to Rs.7,508 per gram. This represents a more noticeable fluctuation in the gold rate.
October 2024
| Parameter | Gold price (24 karat) |
|---|---|
| 1st October 2024 Rate | Rs.7,403 per gram |
| 31st October 2024 Rate | Rs. 7,828 per gram |
| Highest Rate in October | Rs. 7,828 per gram on 31 October 2024 |
| Lowest Rate in October | Rs. 7,376 per gram on 10 October 2024 |
| Overall Performance | Incline |
| Percentage Change | 5.74% |
October, conversely, saw a significant increase in gold prices, closing the month considerably higher than it began. This demonstrates the volatility of the gold market.
September 2024
| Parameter | Gold price (24 karat) |
|---|---|
| 1st September 2024 Rate | Rs.7,030 per gram |
| 30th September 2024 Rate | Rs. 7,434 per gram |
| Highest Rate in September | Rs. 7,455 per gram on 27 September 2024 |
| Lowest Rate in September | Rs. 7,004 per gram on 2nd September, 3rd September, 4th September, and 5th September 2024 |
| Overall Performance | Incline |
| Percentage Change | 5.74% |
Similar to October, September also showed a strong positive trend for gold prices in Tamil Nadu. The consistent increase suggests a period of growth in the gold market.
August 2024
| Parameter | Gold price (24 karat) |
|---|---|
| 1st August 2024 Rate | Rs.6,752 per gram |
| 31st August 2024 Rate | Rs. 7,030 per gram |
| Highest Rate in August | Rs. 7,051 per gram on 28 August and 29 August 2024 |
| Lowest Rate in August | Rs. 6,647 per gram on 7th August 2024 |
| Overall Performance | Incline |
| Percentage Change | 4.11% |
August continued the upward trend observed in the previous two months, albeit with a slightly smaller percentage increase. This suggests a potential cooling off of the rapid growth seen in September and October.
Gold investment in Tamil Nadu offers various avenues, including physical gold (primarily jewellery) and market trading through commodity exchanges. Physical gold purchases are deeply rooted in Tamil Nadu’s culture, serving both ornamental and investment purposes. For those interested in bulk purchases and with market knowledge, trading gold on exchanges like the MCX provides an alternative investment route.