Rajahmundry is India’s one of the most significant cities due to its hub of commercial activities. It is well-known as the “Cultural Capital of Andhra Pradesh” or “The Powerhouse of Culture”. It has a large commercial area dealing in Textiles and has one of the biggest bullion markets in India.
Is it a good idea to invest in gold during the festive season?
From earlier times in India gold has been a valuable, precious and special commodity. Demand for gold increases and strengthens during the festive season as it is considered the auspicious moment to buy gold for prosperity and good health. During this time jewellers offer massive discounts to attract customers.
People can do gold investments in many forms like buying coins, jewellery, bars etc. There are times when gold prices fall in markets but usually it lasts for a very short time and makes a strong upturn.There are many advantages of investing in gold like:-
- Protection Against Inflation and Saving Money for Future
Inflation is when money loses its power or value over time. One should never make investments in cash whose value will be depreciated in an economically growing country like India. Gold forms a hedge against erosion of currency and safeguards the money for the future.
- No Need of High Maintenance and Getting Loans Against Gold
One can store the gold in a safe place for a long time and can get a loan easily in exchange of the gold and as soon as the loan is cleared the person will receive his or her gold back.
Gold price in Rajahmundry Today
Today’s Gold rate in Rajahmundry is 47,112 rupees for 24Karat gold per 10grams and 44,862 rupees for 22Karat gold per 10grams. Today goldrate proddatur – the “City of Gold ”, is 47,144 rupees for 24Karat gold per 10grams and 44,914 rupees for 22Karat gold per 10grams. You can keep track of daily gold rates at Khatabook.
Quarterly Gold Prices in Rajahmundry
In Rajahmundry, during April the gold prices started at the rate of 4,544 rupees per gram, then had hit the highest price at 4,920 rupees per gram and the lowest price was at 4,544 rupees per gram. During May it started at the rate of 4,777 rupees per gram, it’s highest price was at 5,030 rupees per gram and the lowest price was at 4,777 rupees per gram.
During June the rate started at 5,030 rupees per gram, the highest price was at 5,040 rupees per gram and the lowest price was at 4,610 rupees per gram. During July it opened at the rate of 4,667.8 rupees per gram, it’s highest price was at 4,797.2 rupees per gram and the lowest price was at 4,732.6 rupees per gram.
So, till now everyone must be aware that gold reduces the risk of economic instability. This has been the most favourite investment from the historic times of millions of people all over India and people never regret it after doing it.