Today’s Gold Rate in Rajahmundry

• The city of Rajahmundry is not only one of the biggest but one of the most prosperous cities in South India. Located on the banks of the Godavari River, the city has its own strategic importance in terms of connectivity. All this has helped Rajahmundry to earn a vital place in the commercial activity.
• For the entire population living in east & west Godavari region, the city of Rajahmundry is their main market. The city is very well connected by roads and rail with other parts of Andhra Pradesh & rest of country. The market of Rajahmundry caters the day to day needs of more than 20 lakhs people in the region.
• The region has been known for its agricultural prosperity from the ancient times and the per capita income for people from both urban and rural areas is at par the national standard. People love to invest in gold for any and every occasion.
• In Telugu tradition, gold is not only an auspicious metal but also a part of a family heirloom. The old generation passes the gold ornaments to the new one as a part of family tradition. Gold is in the nucleus of all cultural & family celebration such as marriage. The amount of gold jewelry, which a bride puts at the time of wedding, depicts the status of family here.
• Not only for the retail customer but the city is also known for its bullion markets which are considered to be one of the largest in the country. A huge cluster of gold retailers & dealer has flourished here and trade gold, silver & platinum.

Gold is a vital trading commodity in Rajahmundry. Being the hub for gold trading and bullion market in South India, there are numerous investment avenues for gold in the city.

1. Physical Gold – Gold jewelry is an automatic investment option for the local resident since the yellow metal is part of their daily life. No family function or religious celebration is complete without the involvement of gold. Gold jewelry is purchased largely during the wedding season and festival (during the month of September to November) every year. Apart from the local dealers, Rajahmundry has all the big names of gold dealers such as Tanishq. Gold coins or bars are also a form of investment here. As a part of family customs, gold is purchased in the form of coins or bars and then passed on to future generation. Thus, the family heirloom is considered to be completed. Gold coins or bars yield a better return on investment as there is no concept of making charges involved and there is no loss of the weight while reselling the same. Also, the purity for gold coins & bars is higher than the jewelry and utensils.
2. Gold Commodity Trading: This investment option is yet to gain popularity amongst the people of Rajahmundry. However, the businessmen have always invested in gold commodity trading. This can be done on various platforms such as MCX, Gold ETF or E-gold options. Apart from the commodity trading, the local dealers here also offer various investment options in gold trading through their local network.

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