Guntur, is called the Spice district of Andhra Pradesh, thanks to the Guntur Sannam. Amaravati, where the official state capital of Andhra Pradesh is being built, is near Guntur district. The Today Gold rates in Guntur are sourced directly from jewellers and agencies from the district Gold rates for Guntur are presented in 1 gram, 8 grams (Sovereign), 10 grams (Tola) and 100 grams to help readers reap benefits on their investment.
To help gold jewellers and prospective customers, Sify.com also features the last 7 days and last 30 days rates for Guntur and nearby towns. Gold rates mentioned on this page are exclusive of GST and making charges. District Rates mentioned on this page are valid for Guntur, Macherla, Narasaraopet, Mangalagiri, Tenali, Narasaraopet, Chilakaluripet, Mangalagiri, Bapatla, Macherla, Sattenapalle, Gurazala, and Amaravati.
Popularity of Gold in Guntur?
The economy of Guntur is largely dependent on agriculture - jute, tobacco and rice are prominent crops here. In the last few decades times, textile and oil mills have opened up. The connection with Bangaram or Gold is pretty common in Guntur considering affinity to the yellow metal in rural towns. In fact, a jeweller from Andhra Pradesh wrote to us of how farmers keen on investing Gold would constantly ask – “Bangaram Dhara Enta” (what is the gold rate today?).
Kharif and Rabi harvest define the gold rates. A bumper season can cause an uptick in gold rates at the jeweller owing to local demand. Some of the festivals when gold rate spurts include Ugadi, Telugu New Year and Maha Shivratri. Christmas and Eid are also celebrated in Guntur.
Being an agrarian economy, the investment in Gold is perceived by locals to act as a safe avenue. Many housewives, farmers, and local businessmen tend to invest in the yellow metal. The bulk of purchases are towards jewellery.
How are 24 Karat Gold rates calculated in Guntur?
The leading jewellers in Guntur and local gold association have a major say when it comes to gold rates. The local Guntur Bullion Jewellery and Pawn Brokers Merchants Association tallies the rates quoted by major jewellers. The jewellers themselves may quote rates based on several factors such as cost of bullion in international markets or from refiners directly. The rates are influenced by the prevailing USD-INR rates. A costlier Dollar (rupee terms) results in costlier gold.
How are 22 Karat Gold rates calculated in Guntur?
Gold rates for 22 karat variant such as coins or jewellery ornaments is affixed on the basis of international rates. There are several other factors that have a say in 22 Karat gold rates. These includes changes in impurities added (Platinum, Palladium, Silver, Nickel, Aluminium, Iron) along with changes in transportation, logistics, expenses incurred on security, changes in business operations, and finally the margins. Making charges or Karigar fees or designer fees are also tallied to arrive at the final price.
Gold rate variance in Guntur:
Across India, gold rates can change quite often, sometimes 2-3 times within a day. The same trend applies to gold rates in Guntur. The dual change within a day corresponds to the way the LBMA conducts auctions and such activities help in finding the market-rate at a given point of the day. The debate over such an activity still persists since many experts find merit in the spot rate fixing mechanism.
The above trend is not a rule and many jewellers, including the leading ones in Guntur may quote a single rate through the business day. Also, as a buyer you should know that the rate quoted by jewellers within the same neighborhood can differ by a margin of a few rupees. This variance is what makes gold industry such a competitive one across India.
Trustworthy and popular jewellers in Guntur?
Arundelpet and Brodipet are prominent roads housing popular jewellers. Leading jewellers in Guntur includes Kalyan Jewellers, Khazana Jewellery, Malabar Gold and Diamonds, GRT Jewellers, Reliance Jewels, and Sri Lakshmi Jewellers.
Almost all jewellers are reasonable, however, we always remind our readers to negotiate using the rates mentioned on the Today gold rate page to get the best benefit. Do follow our standard best practice guidelines to ensure you have a happy shopping experience.
Why subscribe to authentic rates:
Investment in Gold or bullion can always safeguard your hard-earned money from inflation. It is advised that each individual keen of building a financial portfolio should allocate 10 to 15 percent of his or her savings in gold and gold-backed assets. However, in these days of market-competition and digitization, getting accurate rates has turned out as a cumbersome task. Even a 10 rupee change in gold rates can result in a huge saving in your financial portfolio.
The gold rates in Guntur is a way to enable customers access the latest and authentic gold rates. Having the latest and authentic rates can help buyers plan and even negotiate when it comes to buying and selling of gold and jewellery. Knowing the latest rate also helps while seeking a gold loan. As a reader engagement, Sify talks to several industry veterans and market experts to offer readers latest insights on where gold rates could head to. We request readers to bookmark this page or download Sify Gold rates app to keep a track of the latest and most accurate gold trends 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.