Situated in Andhra Pradesh, Proddatur is a popular city known for its gold and cotton industries and as a thriving financial hub it is called Second Bombay. It is also referred to as the 'City of Gold' because of the large-scale gold business that takes place here. Gold is a favourite with the inhabitants here and is a must-buy during festivals and weddings. It is believed as a safe asset and an auspicious addition to the household and hence gold prices see a high demand in this city. The gold rates fluctuate in Proddatur and are in high demand iImpacting the local price. If you are visiting this city in Andhra Pradesh and are interested in buying or selling gold, be sure to check the gold prices in Proddatur to get your desired loan amount.
Gold Price in Proddatur for 22K and 24K Gold Purities
22 Carat Gold Price Per Gram in Proddatur - (Today & Yesterday)
For investing in the 22-carat gold rate in Proddatur, do check the gold price in the market. You can follow the details provided below for a better understanding:
| Gram | Today | Yesterday | Price Change |
|---|---|---|---|
| Gold rate for 1 gram | ₹ 7,147 | ₹ 7,173 | ₹ -26 |
| Gold rate for 10 gram | ₹ 71,474 | ₹ 71,730 | ₹ -256 |
| Gold rate for 12 gram | ₹ 85,769 | ₹ 86,076 | ₹ -307 |
Today 24 Carat Gold Price Per Gram in Proddatur - (Today & Yesterday)
Also, check the 24K gold rate per gram in Proddatur in following the table given below:
| Gram | Today | Yesterday | Price change |
|---|---|---|---|
| Gold rate for 1 gram | ₹ 7,803 | ₹ 7,831 | ₹ -28 |
| Gold rate for 10 gram | ₹ 78,028 | ₹ 78,308 | ₹ -280 |
| Gold rate for 12 gram | ₹ 93,634 | ₹ 93,970 | ₹ -336 |
Disclaimer: IIFL Finance Limited (including its associates & affiliates) ("IIFL") makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are subject to change and are provided on an as-is basis with no guarantees of completeness, accuracy, usefulness or timeliness and is without any warranties of any kind, express or implied. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. IIFL accepts no liability or responsibility for any errors or omissions in the content stated herein and under no circumstances shall IIFL be liable for any damage, loss, injury or disappointment suffered by any reader.
Historical Gold Rate in Proddatur For The Last 10 Days
| Day | 22K Pure Gold | 24K Pure Gold |
|---|---|---|
| 14 Jan, 2025 | ₹ 7,147 | ₹ 7,802 |
| 13 Jan, 2025 | ₹ 7,173 | ₹ 7,830 |
| 10 Jan, 2025 | ₹ 7,146 | ₹ 7,801 |
| 09 Jan, 2025 | ₹ 7,109 | ₹ 7,761 |
| 08 Jan, 2025 | ₹ 7,086 | ₹ 7,736 |
| 07 Jan, 2025 | ₹ 7,064 | ₹ 7,712 |
| 06 Jan, 2025 | ₹ 7,068 | ₹ 7,716 |
| 03 Jan, 2025 | ₹ 7,099 | ₹ 7,750 |
| 02 Jan, 2025 | ₹ 7,060 | ₹ 7,707 |
| 01 Jan, 2025 | ₹ 7,015 | ₹ 7,658 |
Monthly and Weekly Trends of Gold Rate in Proddatur
The weekly and monthly gold movements in Proddatur are based on its principal gold rates as the city is known for its gold and frequent gold buying. Today’s gold rate in Proddatur is synonymous with gold in the state and the amount of gold bought and sold. With a steady and hopeful demand, the weekly and monthly trends in Proddatur are increasing.
Gold Price Calculator in Proddatur
Gold value: ₹ 7,147.40
What is the current trend in the Gold Price in Proddatur?
Proddatur has a high demand for gold throughout the year with some fluctuations. You need to be aware of the current effects in the market when buying or selling gold in this city. Today gold prices can be evaluated in Proddatur and you can even compare the current gold price with the historical data of the same city
Importance of Checking Gold Rates in Proddatur Before Buying
Planning to buy and sell gold in Proddatur? Checking the gold rates in the city would be good so that your money will be judiciously spent. By checking the gold rates, you shall get the best value because the rates often fluctuate and this impacts the transactional value.
Factors that Affect Gold Prices in Proddatur
The price of gold in Proddatur has certain external factors, and so it's best to check the gold prices. These factors are:
- Demand and Supply: Demand and supply have a direct effect on the rise or fall in the prices of gold in Proddatur.
- Price of US Dollar: The US dollar greatly impacts the gold price for 22 Karats in Proddatur. Rate of gold is not impacted by any other currency so much as the US dollar
- Margin: Tax charged on the gold prices in Proddatur by local jewellers reflects on a higher gold price in the markets.
- Interest Rates: Interest rates on gold in Proddatur is controlled by the price fluctuations in the market and the gold buying and selling factor also depends on the gold traded in the city.
How are Proddaturs’s Gold Prices Determined?
Proddatur is well known for its gold trade and the residents naturally grab every opportunity to collect gold as a security. As a result, there is continuous demand for gold in the city. As specialists of gold, the people of Proddatur prefer 916 hallmark gold for its purity standards and it is based on the 916-hallmark price in the city. The determining factor for choosing gold that they shall collect as an asset is that the gold must be certified by BIS (Bureau of Indian Standards). To know more about the 916 hallmarked gold rate in Proddatur, go through the following:
- International Gold Price: Proddatur gold prices are recognized and controlled by local jewellers after charging duty on the international gold price at which the jewellers import the gold to Proddatur.
- Demand and supply: The supply-demand curve impacts gold prices and also indicates its pricing. The bulk of gold bought or sold in Proddatur affects the pricing of gold overall.
- Purity: For 916 hallmarked gold market prices differ from other variants like 18 karats and 24 karats.
Evaluate Gold Price in Proddatur with Purity and Karats Method
To acquire gold, we must be aware of its purity and this is very important to gold buyers in many places. This is a good reason why gold is evaluated accurately to ascertain its genuine value based on its market prices. For more information on the method to evaluate gold prices in Proddatur, take a look at the following:
- Purity Method (Percentage): Gold Value = (Gold’s purity x weight x gold rate) / 24
- Kara’ s Method: Gold value = (Gold’s purity x weight x gold rate) / 100
Other than gold buying, to take a gold loan in Proddatur, getting to know more about the usage of these two methods shall prove to
be beneficial in examining gold prices in Proddatur.
Reasons Why Gold Rates Differ Between Proddatur and Other Cities
No two cities are alike, just as no two fingerprints are identical. When it comes to gold rates in Proddatur, it is different as compared to other cities. It essentially depends on the amount of buying and selling of gold in Proddatur to other cities. Added to this are other factors that affect gold prices from city to city as given below:
- Import Price: International gold rate fluctuations can affect the import of gold in Proddatur. Moreover, import duty is fixed on base prices by local jewellers’ effects on higher gold prices.
- Volume: An increase in demand shall result in a decrease in gold prices and conversely a decrease in demand shall escalate gold prices.
Techniques to check the purity of gold
Checking the purity of gold involves some techniques that are convenient to do but if you want utmost accuracy, then it is better to consult a professional jeweller or gold assayer
- With a magnifying glass, examine for hallmarks or stamps to match the purity of the gold.
- A close inspection often proves helpful to reveal in case of any damage. You can track for discoloration or tarnishing to identify this.
- A simple magnetic test can give you an instant result. Just know that real gold is non-magnetic, so finding the purity of gold is that easy.
- To do a nitric test to find the purity of gold, it's better to call a professional gold dealer as this process might be a bit difficult for you as it involves chemicals.