Gold Rate Today in Pudukkottai

Pudukkottai is one of the largest cities on the banks of the Vellar River. Moreover, this city is the headquarter of the Pudukkottai district in the state of Tamil Nadu. As it has witnessed the reign of so many rulers and has been loaded with wealth for many years, people living in this city are very fond of acquiring gold which is an integral part of their culture.

Various festivals are held around the year where gold is bought and gifted to other family members to attract prosperity and harmony. People here in Pudukkottai also invest in gold to create an alternate source of income. Apart from gold coins, bricks and biscuits, you can also invest in digital gold, mutual funds and shares to diversify the investment portfolio. Read on to learn more about buying gold in the city and what precautions you must take.

Comparison Between 24K and 22K Gold

24K gold is considered the purest form of gold as it is not mixed or adulterated by any other metal. In the local market is sold as 99.9% of gold. It has a unique golden colour that shines and can be easily identified as the purest form of gold. It is rigid and cannot easily bend in any shape and size. Thus, it is sold in the form of blocks and bricks.
22k gold is not the purest form but is undoubtedly one of the most popular options. This type of gold is 91.67% pure gold, and the remaining is a mixture of silver, zinc, nickel and other alloys to make it more flexible. 22k gold is used to make ornaments and jewellery due to its soft and bendable nature. 

Comparative Analysis of Gold vs other investment options

Gold has always been the primary choice for investment for the people of Pudukkottai. In Pudukkottai, the demand for gold is very high as people actively invest in gold throughout the year and purchase biscuits and gold bricks. However, people are also open to other options for investment. Thus, they have started investing in sovereign gold bonds, which is now considered the safest type of investment as the Reserve Bank of India issues it under the supervision of the central government. Moreover, it is effortless to trade in these bonds as you can sell them on the stock market. 

However, if we talk about the traditional people who follow the cultural way of life, they still believe in buying gold in tangible form. Therefore, the primary option for investment for the people of Pudukkottai is buying real gold.

How is the Purity of Gold Evaluated in Pudukkottai?

There are many ways by which you can identify the purity of gold. The primary one is looking for a BIS Hallmark sign on the jewellery. This mark gives you a clear understanding of the quality of gold, its finesse and even its date of manufacture. Moreover, it is genuine gold; therefore, you pay for good quality gold if it has a BIS hallmark. 

If you ask about a simple method to check the quality of gold, you can rub the gold jewellery over your skin. If the portion of skin where you've rubbed the jewellery turns pale or changes colour, the gold is degraded, as gold never reacts with any other metal or substance. 

Some Interesting Facts on Gold and Gold Rates in Pudukkottai 

Gold has a very high boiling point, which is 2808 degree Celsius. 

The melting point of gold is 1064 degrees Celsius. 

Gold is not only used by people for jewellery or ornaments. It also has various medicinal properties and, thus, is used in different medicines and procedures. 

Nobody on the planet knows how to mine gold exactly. The amount of gold on earth is limited, and thus, it can get exhausted, but when then is still unknown. 

Impact of GST on Gold Rate in Pudukkottai 

When it comes to tax levied on gold in Pudukkottai, it is applied to both the jewellery and the making charges of the ornament. When you talk about gold itself, the GST is 3%, and apart from this, GST @ 5% is separately levied on the making charges.