Pondicherry or Puducherry is nicknamed as the French Riviera of the East. Among tourists, the city is colloquially called Pondy. The Today Gold rates in Pondicherry are sourced directly from jewellers and agencies from the district. Gold rates for Pondicherry 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 Pondicherry. The rates mentioned on this page are valid for Puducherry city and Karaikal. The rates may also reflect market trends for Mahe (Kerala) and Yanam (Andhra Pradesh). Rates mentioned are exclusive of GST and making charges.
Pondicherry Geography: Why Gold can get cheaper here
Agriculture and tourism are major money-spinners in Pondicherry. Pondicherry’s bustling tourist centers have been served by jewellers from adjacent South Indian cities who have branches here.
The district of Pondicherry may not have a uniform gold rate strategy since the geography is vast and diverse. Pondicherry has majorly four districts - Karaikal, Mahe, Puducherry, and Yanam district. You will be surprised that each of them is enclaved within other states. While Puducherry and Karaikal are enclaved by Tamil Nadu, Yanam is surrounded by Andhra Pradesh and Mahe on the west coast inside Kerala. The gold rates in each of these districts corresponds to the adjacent geography, but operations of a Union Territory often comes with set of benefits such as lower cess and duties. For manufacturing entities, a production center in a UT offers abundant tax benefits. In the pre-GST era, gold jewellery was quite a profitable business thanks to lower excise and sales tax. Hence buying Gold can turn cheaper in these areas.
The diverse geography may result in confusing rates. At Sify, we ensure readers get to track the prevailing market rates within the myriad bazaars and shopping avenues of Pondicherry.
Who fixes Gold rates in Pondicherry?
Gold rates for 24 Karat is standardized across the four districts of Pondicherry and most associations and jewellers mostly factor the rate of landing price of Gold. 24-Karat Gold rates can sometimes turn cheaper than even adjacent metropolitan cities such as Chennai or Hyderabad. For 22 karat jewellery or coins, the prescriptive rates mooted by the Chennai headquartered Madras Jewellery Manufacturers Association has a major say in Pondicherry.
The 22 Karat gold rates in Pondicherry are mostly tallied by jewellers themselves. And then, there are differences of at least Rs 15-20 quoted by adjacent jewellers . The reason for this variance are differences in making charge, wastage, melting charges, refiner margins, business and even difference in cost of impurities (Platinum, Palladium, Silver, Nickel, Aluminum, Iron). Also included in the list of factors are transportation, logistics, expenses incurred on security, changes in business operations, and finally the business margins.
You should also know that gold rates in Pondicherry can change at least twice within a day. These rates are usually derived from international standards because Gold needed for jewellery making has to be imported.
Trustworthy and popular jewellers in Pondicherry?
Nehru Street, Bharathi Street, Kosakadai Street, and Kamaraj Salai in Pondicherry are streets popular for buying gold and jewellery. Tanishq, Lalitha Jewellery, Jos Alukkas, Khazana Jewellery are among the top big names in Pondicherry. The Sri Lakshmi Jewellery established in 1936 and Siva Valli Vilas Jewellers established in 1929 are legacy jewellers in Pondicherry. In Karaikal, the jewellers are based out of the Thirunallar road and Bharathiyar Street. Some local names that you can bank on includes Rathna Jewellery, Fathima Thanga Maligai, Sri Lakshmi Jewellery, and Ragava Jewellery etc. It is generally recommended to opt for bills and check for hallmarks while buying jewellery.
Avenues to buy jewellery in Mahe, the west-coast of Pondicherry are limited to a handful names such as Aparna Gold Jewellers, VNM Jewels, and Sree Lakshmi Jewels. However, crossing the Kerala border leads to the showroom of Kalyan jewellers. Thalassery in Kerala is the nearest district to Mahe and a number of prominent jewellery brands such as Alukkas and Malabar are active here.
In Yanam, prominent jewellers are located on the Vishnalayam Street while a few miles inside Andhra Pradesh can open up to Jewellery avenues in AP. While all parts of Pondicherry are geographically and culturally diverse, most banking services and the interest rates remain standardized.
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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 Pondicherry 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 find out the latest and most accurate 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.