Chandigarh is the state capital of Punjab and Haryana, a well-planned city and also a Union Territory. The Tri-City also called city beautiful was planned by Swiss-French architect Le Corbusier. Being a well-planned city, locals attach prominence to several investment products. Gold, naturally has an affinity given the cultural practices in Tricity.
The Today Gold Rate Page in Chandigarh is an endeavour to inform investors and buyers of the prevailing market-rate. Rates mentioned on this page are sourced from credible jewellers and agencies across the city. Rates mentioned on this page are valid across major districts of Haryana such as Hisar, Jind, Ambala, Karnal, Panchkula, Rohtak, and Sonipat. Rates in districts of Punjab state are also similar with the ones mentioned for Chandigarh.
Chandigarh & Gold:
Residents in well-planned city Chandigarh usually invest in regular sums towards buying Gold. The ownership is usually higher in paper gold forms such as ETFs, Gold bonds and other schemes, however, in recent times the actual numbers have grown owing to an improvement in awareness for bills when it comes to transactions involving jewellery.
Gold is a popular investment asset and leading agencies such as MMTC and the World Trade center have their base in the city. In 2014, the MMTC unveiled an exhibition named "Festival of Gold" to promote investment in Gold coins among locals. This was right after establishing a coin-manufacturing and assaying centre in Haryana. Speak of assaying and Chandigarh's first BIS hallmarked centre opened up sometime in 2008. The hallmarking centre serves the needs of states of Haryana, Punjab and the recently formed Union Territory of Jammu and Kashmir.
There is ample cultural affinity towards buying Gold given the traditions in Haryana and Punjab. While in Punjab, Gold is preferred among men, women and children, for Haryana, the major demand is bridal jewellery.
Chandigarh per gram Gold rate calculation:
Sify.com collates rates in Chandigarh from jewellers and local agencies including federations and sarafa associations. These agencies calculate rates at least two time a day - morning and evening. The rates are calculated on the basis of international price of gold and the prevailing Dollar rate. The agencies may also add refiner margins to arrive at the cost of 24 Karat gold alloy. Rates mentioned by jewellers may differ by a small margin owing to differences in business operation, logistics, and dealer margins.
The associations also shares prescriptive rates for lower purities such as 22 and 18 Karats. These rates include slight making charges which may include the cost of impurities such as Palladium, Platinum and Nickel required to make 22 Karat or 916 Karat Gold alloy. Individual jewellers may showcase rates higher or lower than the association' prescriptive rates owing to differences in business operations and added costs on security and logistics. Sify ensures that rates reflect near-market trends to ensures customers are empowered with latest market information.
You should also understand that rates quoted by adjacent jewellers in the same locality in Chandigarh can differ by a margin of a few rupees and hence for a satisfactory transaction comparing the single gram gold rate at the jeweller is advised. The prevailing Gold price for bullion, that is 24 Karat, and 22 Karat (916) can change at least two times in a day. The rates are symbolic of changes in international markets and national trends including US-Dollar-Indian Rupee volatility. Sify analyzes several market and economic trends related to buy-sell of Gold.
What moves Gold rates in Chandigarh:
Gold is an important commodity and investment in Chandigarh. Although rates are prescribed by associations, many jewellers, including the popular goldsmiths may evaluate daily market trends to determine the live prevailing rate. Certainly, nobody wants to sell Gold or jewellery at a loss. Some of the factors evaluated by jewellers includes supply-demand, and global patterns such as landing price of Gold in US-dollar, prevailing currency rate of US-Dollar and other business margins. Jewellers may also include rates of impurities such as cost of Silver, Palladium, Platinum, Nickel that are required in making 22 karat or 18 karat gold alloy. Understanding the factors and reasons for movement can help negotiate rates as would comparing the jeweller's quote with the information mentioned on this page.
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Chandigarh Popular Gold Avenues:
Locals in Chandigarh understand how Gold can help during rainy days. It is a financial instrument that is considered a safe investment and usually the rate does not depreciate on a long-term basis. Gold demand is observed ahead of festivals such as Baisakhi and New Year. Wedding festival and special occasions such as anniversaries and birth-days are also festive seasons for buying Gold.
Jewellery is popular among Punjabis, Haryanvis and local residents from the UT. For Haryanvis, popular jewellery forms include Jhumkas, Kundal, Karanphool, Magar, Nathli, Borla or Sehr, Shingar Patti, Rani Haar, Kanthi, kadi. Among the Punjabis, the trend is more for Kadas, rings, nose-rings, Golden Sarpech, Mohnmala, chains, Taviz, and Bazuband. Silver is given equal promince by both cultures.
When it comes to investments, there is a greater financial literacy seen in Chandigarh. This and the availability of banks and broking services are responsible for instilling the habit of regular investment. Given this literacy, locals in Chandigarh prefer the following gold-linked financial products.
Popular Gold Investment Products in Chandigarh:
There are ample financial products for investors keen on parking their funds with an asset as reliable as Gold. For those unaware, Gold delivered 25 percent returns within the first 6 months of 2020 and promises to be a stable asset to park funds. Here are the avenues to invest:
1. Exchange Traded Funds: Invest in an ETF managed by a financial analyst.
2. Sovereign Gold Bond: Managed by the RBI on the basis of trust-worthy information of the India Bullion Jewellers Association.
3. Jewellery: 22K, 18K and even 14K jewellery is preferred. More on that in the trends section on this page.
4. Gold bars and coins: A few grams of Gold in the form of a coin or bar can always help one from the trickiest of situations. Bars are great to invest if there is a dependable storage facility available.
5. Other schemes: Gold jewellers operate savings as well as investment schemes. The instalments are spread over for 9-13 months and after completion of tenure, the customer is eligible for redemption/delivery of goods.
6. Investment in Gold-stocks: Many investors in Chandigarh prefer to invest in stocks related to mining and jewellery companies. There are also brokerages that offer investing in global mining companies, gold feeder funds, and global ETFs.
Tips for first time Gold jewellery buyers:
1. Gold rates are changed twice through the day. Most jewellers in Chandigarh are IBJA members and usually display the rates prominently.
2. Once you have determined what you are keen on buying and have weighed the ornament do calculate the rate per gram and compare it with the prevailing rates.
3. Understand the making charges, wastage and other taxes as mentioned on the bill. You can negotiate if you feel the making charge above 12 percent of the value of Gold or the rate per gram on the higher side.
4. Check for buy-back terms or exchange policies.
5. Take the Bill: Bill-less transactions can shock you at a later date.
Time-Trusted & Popular Gold Showrooms of Chandigarh:
You will find several leading jewellers and goldsmiths operating at Sector 19, 23, 32, 35 and Sahibzade Ajit Singh Nagar. Some of the leading jewellers in Chandigarh includes Talwar Jewellers, Rajasthan Gems and Jewellers, Tanishq, Malabar Gold & Diamonds, and Kalyan Jewellers.
Why subscribe to authentic rates:
Gold investment can help safeguard from inflation. Usually, an investment of 10-15 percent of financial portfolio is advised in the form of Gold. Gold, certainly has remained a favorite investment form for scores of Indians and can work wonders when done correctly. The information mentioned on this page empowers buyers to negotiate when it comes to gold and jewellery. In fact, even Rs 10 saved is Rs 10 earned.
Having latest and authentic rates can help buyers plan their investments much in advance. Knowing the latest rate also helps during a gold loan. The gold rates in Chandigarh is a way to enable customers access the latest and authentic gold rates. Another reader engagement from Sify.com is our frequent articles and insight columns with popular industry veterans and market experts. These insights offer readers information on when to buy gold and what rate to buy it at. Do bookmark this page or download Sify Gold rates app to track the latest gold rates for prominent cities across India.
Disclaimer: Sify.com showcases news, analysis and gold rates with the sole objective of financial prosperity for all. The rates mentioned may vary within the same city and readers are hence advised to consult with a registered financial advisor. For any complaints, feedback, opinions or to share experiences write to firstname.lastname@example.org with the subject – Gold / Bullion.