Kanchipuram or Kancheepuram, a busy avenue is home to serene temples. The city popular for silk-weaving and silk-sarees has a good number of jewellers and popular avenues to buy gold from. The Today Gold rates in Kanchipuram are sourced directly from jewellers and popular agencies such as banks and associations from within the district.
The rates in 1 gram, 8 grams (Sovereign), 10 grams (Tola) and 100 grams helps readers save money while buying or investing in Gold. Even leading jewellers in Kanchipuram follow Sify.com to competitively price their rates. Prior to buying or investing in Gold it is a good idea to refer to rates in the last 7 days or even month in Kanchipuram to save money. The rates mentioned on this page reflects the trends in Kanchipuram and adjacent cities. Also, rates do not include GST and making charges.
Importance of Gold in Kanchipuram?
Gold is a popular metal in Kanchipuram given a number of tourists demand the popular Gold and Silver zari worked Sarees. Pattu or Silk Sarees are in perennial demand. During the wedding season many families can be seen shopping from the scores of shops in Kanchipuram. The Kanchipuram Silk Sarees have a Geographical identification tag since 2005 and every Kanchipuram Saree contains minimum 57 percent of Silver and 0.6 percent of Gold. There are at least 6,000 families involved in the Saree business. At least 30 odd industries are related to the production of Sarees in the district. It is hence not wrong to assume that Gold rates have a tall bearing on the district’s economy.
Gold Buying trends in Kanchipuram?
If you are travelling to Kanchipuram, many would recommend buying a Pattu Sari or a Pattu Veshti. The silk saris from Kanchipuram are in perennial demand and one will find at least 600 small and large avenues to choose from. When it comes to saris, customers can be spoilt for choice with prints of Raja Ravi Varma paintings, Mahabharata and Ramayana inspired designs, royal animal and birds figurines – and all in rich colors. You may also come across saris made using a few grams of Gold. There’s 2 grams, 5 grams and even 10 grams of Gold that Kanchipuram saris are made up of. A Kanchipuram Saree with a few grams of Gold is any South Indian would-be-bride’s dream come true.
If the idea is gold as jewellery, you may come across intricate designs - temple motifs, floral prints, and carvings on Gold and Silver on a wide variety of ornaments that can leave you speechless. Kanchipuram is one among the oldest cities with a rich legacy spanning several kings. The city also finds a mention among popular poets and has a rich cultural heritage. Naturally, popular jewellery designs incorporate these cultural and heritage aspects. For locals and residents, Gold investments in ETFs or Sovereign Gold bonds is a growing trend although gold coins remain most-preferred investment instruments.
Change in Gold rates in Kanchipuram:
The Gold rates can change at least twice in a day, but since the local saree industry depends on Gold as an input, the change in rates can be a negligible Rs 5-10 per gram on a given day. Gold rates in Kanchipuram district is usually derived from international standards because Gold needed for jewellery and even sarees has to be imported. As on date, gold mines in India do not yield any meaningful amount of gold ore. The international factors that decide the rates includes the rate of Gold in troy ounce (decided during international benchmark auction), rate of Gold in spot and futures markets, parity of currency such as US Dollar and Indian Rupee.
Across India, gold rates can change quite often, sometimes 2-3 times within a day. Add to this, several jewellers, including the leading ones, have ways and means to price gold rates. While the base rate of Gold remains more or less constant, other factors such as making charge, wastage, melting charges, refiner margins etc can change from jeweller within the same city. You will be surprised to know that jewelry shops adjacent to each other within Kanchipuram can have a price difference of Rs 5 to 10 per gram.
The changes in impurities added (Platinum, Palladium, Silver, Nickel, Aluminum, Iron) along with changes in transportation, logistics, expenses incurred on security, changes in business operations, and finally the margins are responsible for the difference in jewellery rates in Kanchipuram.
Trustworthy and popular jewellers in Kanchipuram?
Big brands such as NAC Jewellers, Kalyan Jewellers, Joyalukkas, Tanishq have a presence in Kanchipuram. V Ramaswamy Chetty Sons Jewellers claims of existence since 1902 and many small shops in and around Kanchipuram claim of business for multiple generations.
Within Kancheepuram, jewellery and sarees are available throughout the district, you will find many jewellers nestled on the busy Koil Sannathi street near Netaji Nagar. These Jewellery shops are busy right upto Salai Street near Kanchi Kamakoti Peetham.
Sriperumbudur, Tambaram, Pallavaram, Kancheepuram, and Alandur are prominent towns and cities within the district where you can find jewellers. You may also find a dozen odd goldsmiths near Chengalpattu.
Why subscribe to authentic rates:
In these days of market-competition and digitization, investment in Gold or bullion can safeguard hard-earned money from inflation. It is advised that each individual building a financial portfolio should allocate 10 to 15 percent of his or her savings in gold and gold-backed assets. The gold rates in Kanchipuram 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 during a gold loan. Bookmark this page or download Sify Gold rates app to find out the latest and most accurate gold rates in prominent cities across India. Sify also tracks the gold rates minutely and features news and analysis from industry veterans to guide readers.
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 email@example.com with the subject – Gold / Bullion.