According to reporting by Livemint, gold and silver rates in Coimbatore were published for 3 November. The report places them just ahead of Dhanteras and Diwali, when many families buy metal.
For you, the message is practical. If you're buying jewellery, coins or silver, check the local rate before you walk in. If you plan a gold loan, the day's rate helps decide how much you can borrow.
Key takeaways
- Livemint reported Coimbatore's gold and silver rates for 3 November, ahead of Dhanteras and Diwali.
- Your final bill depends on more than the rate. Making charges and GST matter too.
- A gold loan amount follows the gold's value on the day you borrow.
- Compare rates and charges at two or three shops before you buy.
- Don't borrow or buy in a rush just because it's festival week.
How gold and silver rates are set
Gold and silver prices start with global rates. India then adds import duty and taxes. Local jewellers add their own small margin on top.
That's why rates can differ a little between cities. Coimbatore, Chennai and Delhi may not show the exact same number on the same day.
Before big festivals, demand usually goes up. Shops may sell more, and local premiums can change. So the rate on the board is only the starting point. You can track the daily national price on our gold rate today page.
What the rate means for your wallet
When you buy jewellery, you pay for more than the metal. You also pay making charges and GST. GST is a tax. It's 3% on gold value and 5% on making charges.
Here's an illustrative example. We've assumed a gold value of ₹1,00,000 and a 10% making charge. These are not Coimbatore's actual rates.
| Item | Example amount |
|---|---|
| Gold value | ₹1,00,000 |
| Making charge at 10% | ₹10,000 |
| GST on gold at 3% | ₹3,000 |
| GST on making charge at 5% | ₹500 |
| Total bill | ₹1,13,500 |
So the bill is 13.5% above the metal value. A small cut in the making charge can save you more than waiting for a tiny price dip.
Now think about a gold loan. Lenders give a share of your gold's value. This share is called loan-to-value, or LTV. RBI sets limits on it. As an example, at 75% LTV, gold worth ₹1,00,000 could get you about ₹75,000. Check our gold loan rate today page for per-gram values.
Who is affected
Festival buyers feel this first. Families buying for Dhanteras and Diwali pay whatever the shop rate and charges are that day.
Gold loan borrowers are affected too. A higher rate raises your loan eligibility. A lower rate shrinks it. If you already have a loan, a big fall can matter if the lender asks you to top up.
Savers who hold gold as an investment are affected the least from one day's print. Long-term trends matter more for them.
What to do now
A short checklist can keep you calm in a busy week:
- Check the day's rate from more than one shop.
- Ask for a full bill with making charges and GST shown separately.
- Compare the making charge, not just the gold rate.
- Ask if the shop gives back the same rate on old gold.
- If you need a loan, read our gold loan guide first.
- Use an EMI calculator before you pick any repayment plan.
Buy only what you need. A festival date isn't a reason to stretch your budget.
Frequently asked questions
Why do gold rates differ between Coimbatore and other cities?
Local demand, taxes and jeweller margins differ a little from city to city. So the same day can show slightly different rates.
Is Dhanteras a good day to buy gold?
Many families buy on Dhanteras as a tradition. Prices can be higher in busy weeks, so compare shops and check the full bill.
Does the gold rate affect my gold loan?
Yes. A lender gives you a share of your gold's value on the day you borrow. A higher rate usually means a higher loan amount.
BankCreds analysis
What this rate print does not tell you
One day's city rate is a small signal. It won't tell you where prices go by Diwali. Festival weeks bring heavy headlines, but gold rarely follows a neat calendar.
For a buyer, the bigger cost is often not the rate. Take a ₹1,00,000 gold purchase. A 10% making charge adds ₹10,000 before tax. That's far more than a typical day-to-day price wobble. Ask for the making charge to be cut. Compare it across shops.
For a borrower, the picture is different. If you hold old gold at home, a higher rate raises what you can borrow. But a loan taken in a festive rush can cost you more than it saves. Borrow only what you can repay within the term.
The safest plan is simple. Buy for need, not for the date. Check the live rate and write down the full bill before you pay.
This section is BankCreds' own assessment of what the development means for Indian borrowers and savers. It is independent commentary, not part of the source reporting above.
Sources & references
- Livemint — originating report https://www.livemint.com/money/personal-finance/gold-24k-22k-18k-999-silver-rate-coimbatore-3-nov-latest-price-movement-today-investors-ahead-dhanteras-diwali-isha-city-11793683692658.html
- RBI Master Directions — RBI sets loan-to-value limits for loans against gold https://www.rbi.org.in/Scripts/BS_ViewMasDirections.aspx
Source links are shown as plain text, not clickable links. Copy a URL into your browser to read the original report.
Editorial note & disclaimer
How this was reported. The development above is attributed to the source or sources listed. BankCreds does not independently verify a third party's reporting; where a figure or a regulatory position is stated as fact, it is either attributed or drawn from the regulator's own published material. Everything under "BankCreds analysis" is our own assessment.
Rates and figures. Interest rates, per-gram values and premium bands quoted here are indicative, move daily, and differ by borrower profile, city and lender policy. Confirm the final number with the institution before you act on it — the sanction letter or policy schedule governs, not a news report.
Not financial advice. This article is general information for an Indian audience. It is not investment, tax, credit or insurance advice, takes no account of your circumstances, and BankCreds is not a lender, broker, distributor or advisor. Consider speaking to a SEBI-registered investment adviser or a qualified professional before acting.
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