Gold Rate Today in Pune

24K Gold / 10gm
As on 21 June, 2024
₹73250
810 (1.12%)
22K Gold / 10gm
As on 21 June, 2024
₹67150
750 (1.13%)

Gold is a valued possession in everyone’s life. Just like the cities of any other nation, gold prices keep regularly fluctuating in every Indian city, too, including Pune. Multiple factors – from inflation to exchange rate – contribute to the fluctuation of gold prices in Pune. 

Gold Rate in Pune

No matter how low or high the price is, gold consumption in Pune will always be stable. People will still buy gold in bulk in Pune regardless of the economy. Maybe that’s because the people of Pune have realized that gold is more than just a symbol of culture and sophistication. 

The fact that gold is one of the safest investment forms is now clear to most people. If you want to invest in gold – no matter the form, be it coins or jewelry, or digital gold – you’ve decided to walk on the right path. 

However, to make the best out of your investment, knowing the gold price in Pune every now and then is crucial. Keeping track of the gold price today in Pune will help you determine the right time to invest in them. So, before you purchase gold, you must remember to check this page to find out the price of gold in Pune today. 
 

Today 24 Carat Gold Rate in Pune (INR)

Gram Pune Rate Today (₹) Pune Rate Yesterday (₹) Daily Price Change (₹)
1 gram 7,325 7,244 81
8 gram 58,600 57,952 648
10 gram 73,250 72,440 810
100 gram 732,500 724,400 8,100
1k gram 7,325,000 7,244,000 81,000

Today 22 Carat Gold Rate in Pune (INR)

Gram Pune Rate Today (₹) Pune Rate Yesterday (₹) Daily Price Change (₹)
1 gram 6,715 6,640 75
8 gram 53,720 53,120 600
10 gram 67,150 66,400 750
100 gram 671,500 664,000 7,500
1k gram 6,715,000 6,640,000 75,000

Historical Gold Rates in Pune

Date Pune Rate (per gm) % Change(Pune Rate)
21-06-202473251.12
20-06-202472440.3
19-06-202472220
18-06-20247222-0.15
17-06-20247233-0.3
16-06-202472550
15-06-202472550.92
14-06-20247189-0.37
13-06-202472160
12-06-202472160.45

Factors That Influence Gold Prices in Pune

Multiple factors influence gold prices in Pune, and a few major ones are as follows: 

1. Supply & Demand: 

Among the key variables affecting the price of gold in Pune and throughout India is an equilibrium between supply and demand. However, the price of gold increases when demand outpaces supply and vice versa.

2. Macroeconomic Factors: 

The price of gold will increase along with the demand, and vice versa. Several macroeconomic factors primarily influence the demand for gold in Pune.

For instance, the demand for gold will rise if the country experiences some major and unanticipated economic difficulties. This is so that investors will seek out investments in secure asset classes.

3. Currency Fluctuations:

Fluctuations in the currency values are another reason why you witness gold price changes in Pune. 

The rupee-dollar exchange value plays a key role in deciding the gold prices in Pune. The cost of gold import increases when the value of the rupee falls in the international market. 

4. Inflation: 

Gold is among the best, most reliable, and safest investment options whenever the market is in turmoil due to inflation. Because gold is a reliable investment choice, its demand rises, which affects its prices as well.

5. Gold Reserves: 

In addition to its cash reserves, the RBI, or the Reserve Bank of India, also keeps the nation’s gold holdings on hand. The reserve bank keeps these gold reserves, and as the supply of money increases while the supply of gold decreases, gold prices surge.

6. Geopolitical Situations: 

Pune’s gold prices, as well as those around the country, are influenced by geopolitical developments. When a country experiences an economic recession, investors and those with significant savings or wealth begin to invest in gold because it is the safest form of investment. Likewise, the gold demand falls when a country has rapid economic growth.

7. Jewelry Sector: 

Buying gold jewelry or accessories is a part of Indian culture and celebrations in one way or another. The jewelry market thrives during the wedding and festival seasons in India, which has a direct impact on gold prices.

8. Transportation Costs: 

Any physical object, including gold, must be transported. As a result, transportation expenses are involved, which affects the overall price. Most gold imports are carried out by air. This gold is subsequently moved to other areas of Pune. The cost of transportation, including wage costs, upkeep, fuel, and other expenses, is added to gold’s price in Pune right now.

9. Interest Rate:

The more we have, the better things seem to us psychologically. Therefore, if the interest rate rises, consumers will sell the gold to receive cash instead. The price of gold will likewise decrease as supply grows.

10. Gold Quantity:  

The demand for gold differs between a State and a City. You may be aware that over 40% of India’s gold usage comes from South India. Pune and other cities have a greater demand for gold compared to India’s secondary cities. It enables consumers to purchase gold in Pune in large quantities while saving some cash.

11. Gold Purchase Price:

It has the most impact on how much gold is priced in Pune. Retailers who purchased gold at a lower cost may set lower prices.

12. Jewelry Merchant Association: 

Gold prices in Pune are significantly affected by local bullions or jewelry merchant organizations. For example, the Pune Jewelers’ Association frequently influences the determination of the price of gold in Pune.
 

How is Today’s Gold Rate in Pune Determined?

● In the global market, gold always experiences upward or downward movement. Based on this, we observe a change in the price of gold in Pune. As a result, when gold prices increase globally, Pune sees an increase as well. 

● The currency rate is a crucial consideration when it comes to gold pricing in Pune, though. The price of the precious metal will rise if the rupee weakens against the dollar. 

● We’ll use one as an illustration. If you are importing gold at Rs. 54 for every $1 and the currency increases to Rs. 56 for every $1, the import of gold will become more expensive, affecting gold prices in Pune.

Places to Buy Gold in Pune

● There are numerous reputable stores in Pune where you may buy gold. In fact, among the city’s oldest jewelers is P N Gadgil. Tikhe Saraf, Sagar Jewelers, VS Waikar and Sons, Krishna Jewellers, and KP Gems World are a few of the well-known brands in Pune. 

● The smaller shops scattered throughout the city also sell gold, with each one meeting the requirements and demands of a different customer.

Importing Gold Into Pune

● First off, only a select group of banks with authorization are permitted to import gold to India. And you may already know that gold is not mined in India. In actuality, the majority of the nation’s gold is mined in neighboring countries like China. For a very long period, we haven’t mined any gold. 

● These banks bring in gold for India, which is then provided in the form of gold bullion (bars) to jewelers. After that, the gold is sold by the wholesalers to local jewelers. That’s how gold is transported from imports to the end customer. 

● In addition to all of this, the numerous mediators who import the gold are responsible for paying the relevant taxes and duties. Keep in mind that Pune may experience lower gold duties and taxes if the goods and services tax (GST) is implemented. 

● Furthermore, it’s crucial to keep in mind that Pune and gold will both become more expensive with a slight decline in the rupee. This is because, as we already explained, we create gold rather than mining it. In any event, it is always a good idea to research Pune gold prices before purchasing either 22 or 24-karat gold.

Gold as an Investment in Pune

Pune is renowned for being a multicultural city and a center for education. This area is noted for having one of the largest populations of educated and employed professionals. The city is becoming one of the best places to invest in gold. 

In Pune, people always look for opportunities to invest their earnings in gold, regardless of the price. Due to the rising demand for gold, the price of gold is rising in Pune. Numerous small and major jewelry stores, as well as gold dealers, are present in Pune. You can check the current gold rate in Pune online before visiting a jeweler to keep informed. Additionally, if you plan to invest in gold jewelry, ensure the dealer delivers you certified items, as this verifies the purity level and makes the purchase a risk-free one for you.

In Pune, you can invest in gold in many ways, such as: 

● Jewelry: Jewelry made of gold is a good investment choice, but the labor cost may increase the actual cost. Also, its resale value may not help you achieve the market value.

● Allocated Gold Accounts: These coins are substantially less expensive than bars, so those looking to save money should consider investing in them.

● Bullion Bars: Gold bullion bars may be a viable option for investors with huge investment budgets in Pune.

● Bullion Coins: People wishing to spend less money may consider investing in these coins because they are significantly more affordable than bars.

GST Impact on Gold Price in Pune

Since the country introduced the Goods and Services Tax (GST), there have been numerous changes, and Pune’s gold rate is one of them. Global market developments have an impact on gold prices as well as the taxes charged. The cost differential between large and small gold investors has been eliminated under the new GST regulations. The consumer is now responsible for paying a flat 3% GST, 5% GST on processing fees, and a 10% customs duty.
 

Things to Remember Before Buying Gold in Pune

Before investing in gold, one must be aware of a number of factors, including the purity level, labor costs, as well as the date and time of purchase. Before considering an investment, have a look at this list of items to think about.

Purity: Gold is divided into numerous degrees according to its purity. The most popular types are 14-Karat, 18-Karat (75% pure), 22-Karat, and 24-Karat gold (99.9% pure). Since 24-Karat gold is extremely brittle and has a remarkable purity grade, it can only be customized to a limited extent by jewelers and is susceptible to breaking. 

Certification: After determining the purity, the next factor to think about is gold certification. Hallmarked gold and KDM gold are the two classifications that gold is often certified into. They are grouped according to the metal leveraged for purity and alloying. It is crucial to confirm that the gold has the proper certification before investing in it.

Time of Purchase: The majority of people think that the price of gold is unaffected by the time of purchase. However, due to a rise in consumer demand compared to purchases made during the off-season in Pune, gold rates typically rise throughout the festive and wedding seasons. As a result, paying attention to the prices at the time of purchase is crucial. Keep an eye out for seasonal deals that major jewelry stores frequently post.

Labor Costs: You must also consider this factor when purchasing gold. A labor charge is a payment for the labor hours put into making the particular type of jewelry you are purchasing. It also relies on the amount of design-related detail needed. Either man or machine can make it. Jewelry handcrafted by humans is typically more expensive than jewelry made by machines. However, customers can haggle for a lower price on the jewelry at most jewelers.

Difference Between KDM and Hallmarked Gold

● For the purity of gold, the BIS, or Bureau of Indian Standards, has established a number of global standards. Gold jewelry and other items are awarded a quality certification depending on these criteria (metal composition and gold purity). Hallmarked gold is a term for such quality-certified gold objects.

● KDM gold, on the other hand, consists solely of gold goods consisting of 92% gold and 8% cadmium. The materials used in jewelry manufacturing are dated. Gold and solder, two metals, each have a different melting point. Because of this, producers now combine cadmium and gold to create KDM.

FAQ’s

Investing in gold in Pune is the same as it is for any other city. Digital gold, ETFs, bullions, jewelry, coins, and gold sovereign bonds are the things you can purchase to invest in gold.
 

The future gold rate forecast in Pune depends on various factors. These include inflation, rupee-dollar exchange rate, demand, supply, and more. 
 

To date, the different karats of gold sold across Pune are 10-karat, 22-karat, 18-karat, and 24-karat gold. 

The ideal opportunity to sell gold in Pune is when its prices have increased, and it has been three years since you purchased it. After three years of purchase, your gold asset becomes subject to long-term capital gains (20% tax). This will help you enjoy a good portion of the profit. 
 

The measurements of gold for purity in Pune are Karat and fineness number. The purest form of gold in the market is 24-karat, while 18-karat gold – also known as low caratage – comes with 25% metal and 75% gold. 
 

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