Today Gold Rate in Proddatur is Rs. 38,598.90 per 10 grams for 24 Karat
(10 grams = 1 tola gold)
Proddatur is located on the banks of river Penna in Kadapa district of Andhra Pradesh. It is a small yet important town of this region and also the headquarters of Proddatur Zone . It is known as the city of gold also due to several gold mines located within a radius of 1 mile from the city bus station. Proddatur being a epicentre of gold & cotton business not only stands among the best commercial towns in South India but also is one of the wealthiest towns due to the large turnover in gold and cotton trading . The description of river Penna is found to be in the Telugu version of Ramayana. Due to its multi ethnic culture, almost all religious & cultural ceremonies are very widely celebrated. The town inhabits a population of more than 3 lakhs people with a 50-50 sex ratio. Even though it has a small urban populace & lesser political prominence as compared to other big towns in Andhra Pradesh, it holds its importance in the economy of state and contributes a significant portion through its cotton & gold trading. After Mumbai, Proddatur has traded highest number of gold.