Gold Rate in Pondicherry Today _{Last Updated : 27 Nov 2022}

Today's Gold Price in Pondicherry

People in Pondicherry (Puducherry) prefer buying gold for major occasions. It also serves as a type of investment. Gold rates are constantly changing in Pondicherry, one can avail the updated gold rate directly from the dealers in Pondicherry or through the various financial websites. Gold can be used as an asset to get loans from the banks as well.

Trend of Gold Rate in Pondicherry for October 2022

September 2022 Gold Rate in Pondicherry

Trend of Monthly Gold Rate in Pondicherry for September 2022

• On 1 September, a gram of yellow metal was priced at Rs.4,946 per gram of 24 karat gold in Pondicherry. However, as the month progressed, the prices fluctuated and closed at Rs.4,932 per gram.
• The highest price of the gold was noted on 6 September wherein a gram of 24 karat gold was priced at Rs.4,988. Gold hit its lowest price point of Rs.4,841 per gram on 27 September.
• Thus, the overall performance of gold prices in Pondicherry was that of a decline and the percentage change stood at –0.28% for the month of September.

August 2022 Gold Rate in Pondicherry

Trend of Monthly Gold Rate in Pondicherry for August 2022

• On 1 August, a gram of gold was priced at Rs.5,035 per gram of 24 karat gold in Pondicherry. However, as the month progressed, the prices fluctuated and closed at Rs.4,992 per gram.
• The highest price of the precious metal was noted on 13, 14, and 15 August wherein a gram of 24 karat gold was priced at Rs.5,160. Gold hit its lowest price point of Rs.4,992 per gram on 31 August.
• Thus, the overall performance of gold prices in Pondicherry was that of a decline and the percentage change stood at –0.86% for the month of August.

Where can you Buy Gold in Pondicherry?

There are many dealers in Pondicherry. Some of the major gold dealers are Bombay Jewellers, Tanishq, Khazana Jewellery, Sri Guru Jewellers, Adhiparasakthi Jewellery, Narayana Jewellers, Maneesh Jewellery, Lalitha Jewellers, Priya Jewellers, Joyalukkas, Ganesh Jewellers, GRT Thanga Maligai Jewellers, etc. The jewelers will offer gold in the form of ornament, coins, bars and in any other customized form that the customers requires.

Gold as an Investment in Pondicherry:

Gold can be bought in the form of jewelry, gold coins, gold bars and invested with the banks.

Jewelry - Indians purchase gold during major occasions such as wedding, festivals etc. But the gold rate will reduce in value when you resell the ornament. The ornaments have heavy making charge and hence when you wish to resell the ornament, the jeweler will deduct the making charges.

Gold Coins - This is the common form of owning gold. The rates are based on its weight and on its supply and demand. The gold coins will be available in various weight options. You can sell the gold coin back to the jeweler. The banks also sell gold coins, but they will not buy it back from you.

Gold bars - They are the most traditional way of investing in gold. This can be traded in the international markets as well.

Invest in Gold Funds - Gold can be invested with the SBI Gold Fund as an open ended fund. The investment is in units of SBI Gold Exchange Traded Schemes. You can benefit from exposure to the gold asset class without having a demat account.

You can also buy mutual funds that owns gold which makes the buying and selling quite easy.

FAQs on Gold rate in Pondicherry

1. How is the price of gold determined in Pondicherry?

   There are various external factors such as the rate of Indian currency with respect to US dollar, price of oil, important political events, etc. which determine the price of gold. Internal factors such as the policies introduced by the government, interest rate, the demand for gold, etc. that affects the price of gold in India.

2. Why is the price of gold in Pondicherry different than the price of gold in other cities?

   The price of gold in Kanpur will be different in comparison with the price of the precious metal in other cities due to reasons such as the demand for the yellow metal. Gold is purchased generally during auspicious events such as festivals, weddings, etc. and hence the demand will be higher, while in some cities the demand for it may be low. Due to this the price of gold will differ from state to state.

3. What is the difference between 24 karat gold and 22 karat gold in Pondicherry?

   The 24-karat gold is of the highest purity while the 22-karat gold is slightly less pure. It is difficult to make and use jewellery made of 24-karat gold as it would be soft and mushy. That is why 22-karat gold is used to make jewellery.

4. Should I make an investment in 24-karat gold in Pondicherry?

   If you are looking forward to making a long-term investment in gold, then buying 24-karat gold is a good option.

5. Why is 24 karat gold not used for making jewellery in Pondicherry?

   The 24-karat gold is of the highest purity and is very soft. This softness allows the yellow metal to be easily drawn into wires and beaten into sheets. Because of this exceptional softness, it is difficult for a jeweller to craft intricate jewellery pieces with 24 karat gold.

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