Gold Rates In Punjab
Punjab, being one of the thriving states of India, is known to prosper in agriculture and related sectors. Being a very fertile land, agriculture flourishes easily here. Encapsulating several important cities like Chandigarh, Amritsar, Patiala, Jalandhar and Ludhiana, this state has a very rich culture. Festivities are a very important part of their culture and gold is an essential part of their festivities. The gold rates in Punjab depend on the season of traditional demands such as on weddings, important festivals, occasions, etc. Jewelry is an important trading route for Gold in Punjab, and the demand is mostly from the rural regions. The well renowned Golden Temple is also in Punjab. Todays gold rate in Punjab depends on the reasons citizens buy it for. Some buy it online while some buy it from banks for investment purposes. The primary reasons till date are weddings and auspicious occasions.
Gold Rate in Punjab
What is the importance of Gold in Punjab?
Home to the resplendent splendor of the Golden Temple in Amritsar, which has 750kgs of pure gold plating its marble done, Punjabs reverence for the yellow metal could not be more evident. A culturally rich state, gold is an essential part of Punjabs festivities. The gold prices in Punjab escalate during the auspicious occasions such as Dhanteras and weddings. Gold is considered a prudent investment and saving instrument which retains its value against inflation and depreciation.
What constitutes gold purchases in Punjab?
Most of the gold purchases in Punjab are in the form of jewelry and the rural sections of the state constitute a major portion of this demand. Gold, as bullion, is also traded in Punjab, but the precious metal is still regarded by most as auspicious and a part of the tradition.
What decides the price of Gold in Punjab?
To calculate todays gold price in Punjab, certain national and global factors such as the international dollar price of gold, the dollar-rupee rates of exchange and the domestic import duties and tariffs have to be taken into consideration. The gold price in Punjab is higher for jewelry and coins because of the workmanship involved in designing the same.
What is the future of Punjabs Gold Price?
The gold price in Punjab is declining as is the trend in the rest of the country and this trend is expected to continue in 2017. Gold, however, remains as an important risk cover in any investment portfolio for most Indians.