Gold Rate In Pondicherry Today

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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 2020 (rates per gram of 24 karat gold)

Trend of Monthly Gold Rate in Pondicherry for October 2020:

• In Pondicherry, the month of October opened with gold price standing at the rate of Rs.5,066 per gram.
• The price of gold witnessed a fluctuating trend in the city over the next few days. The increase in the rates saw gold record its highest price for the month when a gram was retailing for Rs.5,131 on 11 October.
• Over the rest of the month, gold rate in Pondicherry remained unsteady and recorded its lowest price for the month on 19 October when a gram of the 24-karat gold was being traded for Rs.4,904. Gold price closed the month at the rate of Rs.4,998 per gram. The overall performance of the yellow metal witnessed a declining trend wherein the percentage change stood at 1.33%.

Trend of Gold Rate in Pondicherry for September 2020 (rates per gram of 24 karat gold)

Trend of Monthly Gold Rate in Pondicherry for September 2020:

• Gold rate in Pondicherry opened at Rs.5,583 per gram for the month of September and showed a declining trend for the month.
• The highest rate of the metal was on 8 September at Rs.5,914 per gram. However, by the end of the month gold price had hit its lowest price of the month, at Rs.5,359 per gram on 30 September.
• At the end of the month, gold closed at Rs.5,360 per gram on 31 September and recorded a percentage decline of 3.99.

Trend of Gold Rate in Pondicherry for August 2020 (rates per gram for 24 karat gold)

Trend of Monthly Gold Rate in Pondicherry for August 2020:

• Gold rate in Pondicherry opened at Rs.5,583 per gram for the month of August and showed a declining trend for the month.
• The highest rate of the metal was on 8 August at Rs.5,914 per gram. However, by the end of the month gold price had hit its lowest price of the month, at Rs.5,359 per gram on 30 August.
• At the end of the month, gold closed at Rs.5,360 per gram on 31 August and recorded a percentage decline of 3.99.

Trend of Gold Rate in Pondicherry for July 2020 (rates per gram of 24 karat gold)

Trend of Monthly Gold Rate in Pondicherry for July 2020:

• One gram of gold had been priced at Rs.4,908 on 1 July. The metal saw a lot of changes in its price during the month and eventually settled at Rs.5,496 per gram on 31 July.
• The gold price in Pondicherry reached its highest on 31 July and was sold at Rs.5,496 per gram. The lowest gold rate in July had been on 6 July and the metal was sold at Rs.4,841 per gram.
• The overall Pondicherry gold price had seen an incline of 11.9% during this month.

Trend of Gold Rate in Pondicherry for June 2020 (rates per gram of 24 karat gold)

Trend of Monthly Gold Rate in Pondicherry for June 2020:

• The month of June started off with the yellow metal being priced at Rs.4,733 per gram on 1 June. By the end of the month, the metal was being priced at Rs.4,627 per gram.
• The fears over a resurgence of the Coronavirus and a grim outlook on the economic by the U.S. Federal Reserve had increased the demand for the precious metal during the month. Many factors like the U.S. Federal Reserve's pledge to maintain low interest rates had led to the fluctuations in the price of the precious metal.
• During the month, gold saw an overall decrease in its price by 2.23%. The metal hit its lowest price on 8 June. On this day, the metal was being retailed at Rs.4,657 per gram.

Trend of Gold Rate in Pondicherry for May 2020 (rates per gram of 24 karat gold)

Trend of Monthly Gold Rate in Pondicherry for May 2020:

• In May, the price of one gram of gold in Pondicherry stood at Rs.4,615 per gram on 1 May and there was a fluctuation in the price of the precious metal during the week, and the prices had risen to Rs.4,675 per gram by the end of this week. The hike in the prices had been because of the trade tensions between the U.S. and China. This had followed after the U.S. President had said that they would impose tariffs on China. The ease in restrictions of the lockdown in many economies across the world had improved the risk appetite of investors and this had driven the gold prices to fall. The lowest price for this month had been Rs.4,578 per gram on 3 May and 4 May.
• Gold had held steady during the second week of this month. This week had started with the metal being priced at Rs.4,681 per gram. The economic condition across the world had started to weaken with the pandemic. People had anticipated the release of the U.S. jobs data report and this had helped in keeping the prices of the yellow metal. Most investors across the world had started to become pessimistic about equities. A lot of fears of the revival of this pandemic had then dampened the risk appetite of investors and had increased the appeal of gold.
• The highest price for gold had been on 18 May and on this day, the price had been Rs.4,815 per gram. This had been in response to the fears of a global recession. The U.S.-China trade tensions had also led to this price change. The rates of gold at the start of this week had been Rs.4,773 per gram and at the end of the week, the price was Rs.4,771 per gram. The rates had then been steady by a firm U.S. dollar, and an increase in economic stimulus measures by central banks across the world. The easing of the lockdown restrictions in a lot of countries, and also the anticipation of coronavirus vaccine had led to the price of gold to fluctuate throughout the week.
• The fourth week of May saw prices fluctuating due to the various political and economic factors at play. It slipped to a price point of Rs.4,709 per gram. The uncertainty surrounding the U.S. response to China’s passing of a security law in Hong Kong led to an escalation in prices of precious metals as investors scrambled to safe haven investments fearing volatility in the stock markets. However, there was also corresponding fears around the economy not recovering as fast as it needed to in spite of lifting of lockdown restrictions, followed by the coronavirus continuing to rage unabated around the world. All of these factors led to gold having an incline of 2.55% in the price trends in the month of May in Pondicherry.

Trend of Gold Rate in Pondicherry for April 2020 (rates per gram of 24 karat gold)

Trend of Monthly Gold Rate in Pondicherry for April 2020:

• The month of April witnessed a very unusual price trend for gold. On 1 April, gold opened at Rs.4,150 per gram. The price of the yellow metal had remained the same for the next 19 days. From 1 April to 20 April, the price of the precious metal was Rs.4,150 per gram. Being held back by a very firm U.S. dollar, the rates of gold had remained unchanged for most of the month. During these days, investors were waiting for the U.S. non-farm payrolls data as cues on the impact that the coronavirus would have on the economy.
• On 21 April, gold had seen a sudden jump in its price by Rs.490 to Rs.4,640 per gram. The increase in gold prices can be associated with the investors seeking refuge in the safe-haven metal after a huge dip in the oil prices which increased fears over a possible global economic fallout. Most countries had remained under lockdown as the coronavirus continued to have a firm grip over the global economy. On 22 April, the price had skyrocketed by Rs.72 to Rs.4,712 per gram. From 23 April to 27 April, the precious metal saw a lot of fluctuations in its price.
• The economy saw equities firming, and a huge expectation for more economic stimulus measures had limited the losses. There was also an improvement in risk appetite as more stimulus from Japan's central bank had been rolled out and many countries had considered easing their coronavirus-induced restrictions. These were the two main factors that led to the fluctuation in the price of the yellow metal. By 28 April, the prices had dropped by Rs.36 to Rs.4,698 per gram. The month had come to an end with the metal standing at Rs.4,664 per gram.

Trend of Gold Rate in Pondicherry for March 2020 (rates per gram for 24 karat gold)

Gold Rate Trend in Pondicherry for March 2020:

• Gold opened the month of March at Rs.4,185 per gram in Pondicherry. Compared to the previous month’s closing price, the rates remained unchanged. Over the opening week, the rates of the yellow metal were on an upward curve as investors waited for the US Federal Reserve to cut the interest rates in order to balance the effect of coronavirus on the economy.
• Gold prices in Pondicherry slipped after it recorded its highest for the month on 6th March when a gram of the 24-karat gold cost Rs.4,443. The decline in the prices was accounted to traders selling the precious metal to cover margins for stock markets spooked by the global spread of coronavirus and the United States announcing a travel ban from virus-hit Europe.
• The rates fluctuated in the third week as investors kept on selling their assets to convert them into cash even though the European Central Bank took adequate measures to help the economy. Gold recorded its lowest price for the month on 19th March when a gram of the yellow metal was retailed for Rs.4,026.
• Gold prices remained stagnant in Pondicherry from 24 March even though the rates fluctuated in the international market. Gold prices witnessed a declining trend of 0.83% in the Union Territory.

Trend of Gold Rate in Pondicherry for February 2020 (rates per gram for 24 karat gold)

Gold Rate Trend in Pondicherry for February 2020:

• In Pondicherry, gold opened the month of February at Rs.4,077 per gram. Compared to the previous week’s closing price, the rates increased by Rs.3 for every gram. Over the month, the rates of gold witnessed an incline of 2.64% in the union territory.
• The rates of the yellow metal didn’t see any change in the prices when compared to the closing price of the previous month. Having stayed constant for the next couple of days, the rates slipped in the city and closed the opening week at Rs.3,956 per gram, the lowest recorded price for February.
• In the second week, the rates of gold fluctuated a lot in the city with stocks faltering and the dollar easing from a four-month high. Every gram of the 24-karat gold was sold for Rs.4,008 on 14 February as investors bet on the safe-haven metal to hedge against the economic impact of coronavirus.
• The rates increased from 15 February onwards as the safe-haven demand for gold increased drastically given the increasing number of new coronavirus cases and deaths being reported from outside of China. Gold touched the highest recorded price for the month in the city on 25 February with the metal costing Rs.4,232 per gram.
• In Mangalore, gold closed the month at Rs.4,195 per gram. The overall performance of the metal showed an incline of 4.50% in the prices for the month of February.

Trend of Gold Rate in Pondicherry for January 2020 (rates per gram for 24 karat gold)

Gold Rate Trend in Pondicherry for January 2020:

• Gold opened the month of January at Rs.3,922 per gram in Pondicherry after recording a marginal drop when compared to the previous month’s closing price. The rates slipped to its lowest for the month the next day.
• The rates of gold witnessed a lot of fluctuations over the month due to various political and geopolitical reasons. The precious metal recorded its highest in the city on 6 January with every gram being retailed for Rs.4,091 in the city.
• With the outbreak of coronavirus virus, easing tensions in the middle East and uncertainty in the US-Sino trade deal saw constant changes in the prices of the yellow metal in the city. On 21 January, a gram of the 24-carat gold was retailed for Rs.4,028 in Pondicherry.
• As the World Health Organization (WHO) declared the deadly coronavirus as a global epidemic, gold closed the month at Rs.4,074 per gram. The overall performance of the metal showed an incline of 3.87% in the city.

Also Check Gold Price in Metro Cities

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:

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.

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