Gold is mostly used for jewellery and investment in India. As a result, India is one of the world’s top gold consumers. Unlike other countries, where gold is mostly utilised for industrial purposes, India primarily uses gold for investment purposes. Gold is often taken into consideration as a relatively safe investment, especially in times of economic or political turmoil. For certain occasions, women prefer gold jewellery. In India, people buy gold to commemorate the success of any momentous occasion. However, before making any purchases, make sure to check the gold rates in your city. The cost of gold varies from one city to the next across the country. As a result, before purchasing gold, you must first check the price of gold in your city. The top five cities with the most gold demand are as follows:
Chennai
Chennai, the capital of Tamil Nadu is located on the Bay of Bengal in eastern India. Madras is the old name for Chennai and the city is known for its British museums dedicated to the city’s history as a British military stronghold and East India Company trading outpost when it was known as Madras, was erected in 1644. Since the city is located near the port, the gold rate in Chennai tends to be affordable compared to other parts of the country.
Hyderabad
Hyderabad, the capital of Telangana is a state in southern India. It is a key hub for the IT industry, with a variety of premium restaurants and boutiques. Golconda Fort, a former diamond trading centre that was originally the Qutb Shahi royal capital, is one of the city’s historic sites. Along with being the former diamond centre of the country the gold rate in Hyderabad also changes on a daily basis. Therefore, it is important to check the gold prices before buying gold in Hyderabad.
Kolkata
Kolkata (previously Calcutta), is India’s West Bengal state capital. The city has a dense population and is widely known for its garment and gold market. The Grand colonial buildings, art galleries, and cultural events are among the city’s many attractions today. Having said that, the city also has a huge demand for gold, which is increasing day by day. However, it is advisable to check the gold rate in Kolkata before investing in gold.
Vizag
Vizag or Visakhapatnam, the capital of Andhra Pradesh is a port city and industrial centre on the Bay of Bengal. It is famous for its beautiful and massive submarine which is at the Kursura Submarine Museum. Apart from the historical heritage that the city holds, Vizag has a huge demand for gold. But before you purchase the yellow metal in the city it is important to check the gold rate in Vizag. You can buy gold in various forms like jewellery, gold coins, bars, etc. Moreover, you can also buy gold in digital form.
Jaipur
Jaipur is the capital of India’s largest state, Rajasthan. The city is the home of the royal family that once were the ruling family in the region. “Pink City” is another name for Jaipur because of its trademark building colour. The Pink city is also famous for being a large tourist attraction. The local people of Jaipur buy gold to mark the success of any auspicious occasion therefore, there is a huge demand for gold in the city. Moreover, you should always check the gold rate in Jaipur before making any purchase.