Today's Gold Rate in Proddatur

Proddatur, a bustling town in Andhra Pradesh, is known for its active gold market. Gold holds a special place in the lives of people here, whether for jewellery, investments, or cultural celebrations. Staying updated on today’s gold rate in Proddatur is essential, as it helps buyers make informed decisions.

 

Today’s gold price in Proddatur reflects global market trends, including changes in demand, supply, and currency exchange rates. Prices may vary slightly across local jewellers based on making charges and different gold purity types (like 22-carat or 24-carat). 

 

Keeping track of today’s gold rate in Proddatur ensures you can get at the best time, especially during wedding seasons. Buying gold on Akshaya Tritiya and Dhanteras festive occasions is also good. If you're planning to buy gold in Proddatur, knowing the current price is crucial for smart purchasing.

Gold prices in Proddatur continued their upward trend in April 2025, showing a moderate increase over the month. Both 22-karat and 24-karat gold witnessed price fluctuations, with the highest and lowest rates recorded between the 1st and 30th of April.

 

Gold Prices on 1st April 2025

• 22-Karat Gold: ₹9,030 per gram
• 24-Karat Gold: ₹9,820 per gram

 

Gold Prices on 30th April 2025

• 22-Karat Gold: ₹9,480 per gram
• 24-Karat Gold: ₹10,310 per gram

 

Highest Gold Price in April 2025

The highest recorded price of gold during the month was on 24th April 2025:

• 22-Karat Gold: ₹9,570 per gram
• 24-Karat Gold: ₹10,400 per gram

 

Lowest Gold Price in April 2025

The lowest recorded price of gold during the month was on 7th April 2025:

• 22-Karat Gold: ₹8,970 per gram
• 24-Karat Gold: ₹9,770 per gram

 

Overall Performance

Gold prices in Proddatur showed a +4.99% increase in April 2025.

Gold prices in Proddatur continued their upward trend in March 2025, showing a moderate increase over the month. Both 22-karat and 24-karat gold witnessed price fluctuations, with the highest and lowest rates recorded between the 1st and 31th of March.

 

Gold Prices on 1st March 2025

• 22-Karat Gold: ₹8,810 per gram
• 24-Karat Gold: ₹9,600 per gram

 

Gold Prices on 31st March 2025

• 22-Karat Gold: ₹9,030 per gram
• 24-Karat Gold: ₹9,820 per gram

 

Highest Gold Price in March 2025

The highest recorded price of gold during the month was on 22nd March 2025:

• 22-Karat Gold: ₹9,090 per gram
• 24-Karat Gold: ₹9,880 per gram

 

Lowest Gold Price in March 2025

The lowest recorded price of gold during the month was on 5th March 2025:

• 22-Karat Gold: ₹8,770 per gram
• 24-Karat Gold: ₹9,550 per gram

 

Overall Performance

Gold prices in Proddatur showed a +2.50% increase in March 2025.

Gold prices in Proddatur continued their upward trend in February 2025, showing a moderate increase over the month. Both 22-karat and 24-karat gold witnessed price fluctuations, with the highest and lowest rates recorded between the 1st and 28th of February.

 

Gold Prices on 1st February 2025

• 22-Karat Gold: ₹8,580 per gram
• 24-Karat Gold: ₹9,350 per gram

 

Gold Prices on 28 th February 2025

• 22-Karat Gold: ₹8,810 per gram
• 24-Karat Gold: ₹9,600 per gram

 

Highest Gold Price in February 2025

The highest recorded price of gold during the month was on 15th February 2025:

• 22-Karat Gold: ₹8,850 per gram
• 24-Karat Gold: ₹9,640 per gram

 

Lowest Gold Price in February 2025

The lowest recorded price of gold during the month was on 4th February 2025:

• 22-Karat Gold: ₹8,530 per gram
• 24-Karat Gold: ₹9,310 per gram

 

Overall Performance

Gold prices in Proddatur showed a +2.68% increase in February 2025.

Several factors influence today’s gold price in Proddatur, including:

Supply and Demand

Gold’s value is tied to its rarity and demand. During economic uncertainty or geopolitical tensions, gold becomes a preferred investment, increasing demand and prices. Proddatur’s cultural traditions also drive demand for gold, especially during festivals and weddings.

Inflation

Gold is seen as a hedge against inflation. When inflation rises, people turn to gold as a safe investment, leading to higher demand and increased prices. In Proddatur, this impact is evident during periods of economic instability.

Currency Exchange Rates

The strength of the Indian rupee against the US dollar significantly affects gold prices. A weaker rupee makes gold imports costlier, leading to a rise in local prices in Proddatur.

Global Market Trends

Gold prices in Proddatur are influenced by international market trends, including fluctuations in global gold demand, changes in interest rates, and monetary policies of major economies.

Local Demand During Festivals

Festivals like Akshaya Tritiya and Dhanteras, along with wedding seasons, drive up the demand for gold in Proddatur. Increased demand during these periods often leads to price surges.

Import Duties and Taxes

India imports most of its gold. Changes in import duties or GST rates directly impact gold prices in Proddatur, as these costs are passed on to buyers.

 

These factors together determine the gold rates in Proddatur, making it essential to stay updated before making a purchase.

The introduction of the Goods and Services Tax (GST) has significantly impacted gold prices in Proddatur. Here's how GST influences gold purchases:

GST on Gold Value

A 3% GST is levied on the value of gold, including coins, bars, and jewellery. This tax consists of 1.5% Central GST (CGST) and 1.5% State GST (SGST), directly adding to the gold’s base price.

GST on Making Charges

When buying gold jewellery, an additional 5% GST is charged on making charges. This increases the total cost, particularly for intricate designs with higher craftsmanship fees.

Impact on Affordability

The GST burden makes gold slightly more expensive for buyers. For large purchases or heavy jewellery, the additional tax can significantly affect the final price.

Tax Compliance and Transparency

GST ensures transparency in gold pricing by standardising taxes nationwide. Buyers can now better understand the cost breakdown of their purchase.

Influence on Investment Decisions

Higher gold costs due to GST might make buyers consider alternatives like gold ETFs or Sovereign Gold Bonds, which are not subject to making charges.

 

Understanding the GST impact is essential for budgeting and making informed gold purchases in Proddatur.

Gold loans are a popular way to access quick funds in Proddatur, and their value is directly influenced by gold rates. Here’s how:

Loan Amount Depends on Gold Value

The loan amount offered by lenders is determined by the current market price of gold. When gold prices rise, borrowers can secure a higher loan amount for the same weight of gold. Conversely, a decline in gold prices reduces the borrowing capacity.

Loan-to-Value (LTV) Ratio

Lenders typically offer up to 75% of the gold’s value as a loan, as per Reserve Bank of India (RBI) guidelines. Fluctuating gold rates impact the LTV ratio, directly affecting the funds available.

 

Read also: RBI Guidelines for Gold Loans LTV Ratio

Interest Rates and Repayment

Though interest rates on Gold Loans are generally fixed, higher gold prices may encourage lenders to offer more competitive rates due to increased collateral value. Stable or rising gold rates also reduce the risk for lenders, ensuring smoother loan approval processes.

Risk of Margin Calls

If gold prices drop significantly after the loan is disbursed, borrowers may face a margin call, requiring them to deposit additional funds or gold to maintain the loan-to-value ratio.

Affordability of Repayment

Gold loans are secured, and their affordability depends on both gold rates and repayment terms. Higher gold rates often provide borrowers with more flexibility in borrowing while ensuring lenders’ security.

 

Being aware of these factors helps borrowers in Proddatur make better financial decisions when opting for gold loans.