Gold Rates in Pune

How are Gold Prices Determined in Pune?

There are multiple reasons that lead to gold price variations in Pune. The following are a few parameters on how gold prices are determined in Pune- 

• The local biggest jewellers along with the Indian Bullion Jewellers Association arrive at a gold rates in Pune. 
• Also, the local demand and supply of gold determine the gold prices in Pune. For instance, during the wedding season, gold prices tend to rise due to more demand.
• The Central Bank’s gold reserve also impacts the gold rates in Pune. When RBI purchases gold, the gold prices increase due to less supply of gold in the market. 
• Besides this, international factors have a major effect on gold prices in Pune. Some of them are changes in currency rates, local tariffs and import duty, interest rate movement and international gold prices that can increase or decrease the gold prices in Pune.
• Hence, this is how the gold prices are determined in Pune. It is crucial to check the gold prices in Pune before buying them because they always differ from other cities.

Where To Buy Gold in Pune?

There are several places where people can buy gold in Pune. Some of the popular jewellers of Pune city are – 

• PNG Jewellers
• Chandukaka Saraf & Sons
• Waman Hari Pette Jewellers
• Ranka Jewellers
• Rathod Jewellers

Some of the popular chains in Pune are – 

• Tanishq
• Kalyan Jewellers
• Malabar Gold & Diamonds

Unlike Mumbai, the jewellery shops are spread across the city. During weddings and festivals, there is unusual footfall at these stores. 

• The gold rates in Pune barely differ from one shop to another; however, you should check for the making charges before purchasing. 
• Therefore, it is a matter of reliability, and it is recommended to buy gold from your trusted jeweller in Pune. This gives a surety that you are buying a good quality of gold at the right gold rates in Pune. 

Gold Schemes in Pune

The following are some of the gold schemes offered by different jewellers in Pune- 

Tanishq Golden Scheme

Tanishq Golden Harvest Scheme

Customers must make monthly deposits for 6-10 months and use them against jewellery purchases upon the scheme’s maturity. During jewellery purchases from Tanishq in Pune, this scheme offers a discount of up to 75%. 

Tanishq Swarnanidhi Scheme

This unique scheme from Tanishq in Pune allows customers to purchase gold in small denominations, i.e. grams. They can redeem this gold against the purchase of gold jewellery from any store in Pune. To avail benefit under this scheme, customers have to deposit monthly instalments for 8 months, and this amount is converted into grams for gold with the prevailing gold rate at the time of deposit. Additionally, there is no restriction on the number of deposits made during the tenure. 

Kalyan Jewellers

Dhanvarsha

This is a very flexible scheme where customers can join anytime from Kalyan Jewellers in Pune. Customers can buy gold with advance payments without any registration/enrollment charges. 

Purchase Advance Scheme

This is a famous scheme by the house of Kalyan Jewellers in Pune that offers the purchase of gold through advance payments. For enrolling in this scheme, customers have to choose the product’s size, length, and weight. Plus, on the 8th, the customer can alter the selected product or reconfirm the previous one. A fixed instalment has to be deposited for 11 months. After the tenure ends, customers can collect the jewellery by clearing any pending balance, if any. 

Malabar Gold & Diamonds

Malabar Golden Gain Plan

This scheme allows customers to save in advance when they know they have to buy jewellery. In this scheme, customers have to deposit monthly instalments for 11 months, and at the end of the tenure, they are eligible to purchase jewellery at the prevailing gold rate. Also, they are eligible for up to a 12% discount on making charges for the selected ornament. 

Malabar Gold & Diamonds Smart Buy Plan

To avail of the smart buy scheme from Malabar in Pune, customers need to plan their prerequisites and pay in advance. Upon payment completion, the selected jewellery will be delivered on the promised date. However, the option is available on selected products. For any customisation, extra charges apply. 

PNG Jewellers

Suvarna Poornima Plan

This is a fixed jewellery instalment plan by PNG in Pune. In this scheme, customers have to deposit a sum of money for 11 months, and the jeweller will pay the 12th instalment. Upon maturity, customers can purchase the jewellery of their choice with discounts on making charges.

Kuber Scheme

This is a flexible gold investment plan that allows customers to save as much as they can. This plan is valid for one year, and during this period, customers can deposit as many times based on their convenience. Thus, gold of equivalent value is credited to the customer account at the prevailing gold rate for every payment. Additionally, they get a bonus annually of 8% and discounts on making charges while purchasing jewellery.

PNG Gold Rush

This scheme is also popular as Sanchayat Dhanvardhanam. This is a savings scheme that allows customers to plan their gold investments. In this scheme, customers can make advance payments and purchase gold at the end of their tenure. It has three different options for customers to opt – 12 months, 24 months and 36 months, and the minimum investment amount is Rs.500. 

Chandukaka Saraf & Sons

Kalptaru Yojana

This scheme allows customers for systematic gold investment. In this, customers have to deposit fixed instalments for 10 months. For every instalment, 22karat gold is booked at the prevailing gold rate of the day. Upon completion, they can avail 15% to 40% discount on making charges of gold jewellery on the gold accumulated. 

Gold Tree Plus – CS Growing Gold

In this scheme, customers have to deposit fixed instalments for 10 months, and the jeweller will pay the 11th-month instalment. On maturity, customers can purchase the jewellery of their choice with certain discounts. 

Waman Hari Pethe Gold Investment.

Waman Hari Pethe Golden Moments

In this scheme, customers can opt to purchase gold coins, bars or jewellery by paying 11 equal monthly instalments and getting a loyalty discount of an amount equal to 1-month instalment (11+1=12 months). Further, they can redeem the amount on completion of 12 months to purchase gold. Moreover, they also get an additional benefit of a 10% discount on making charges of jewellery. 

Average Making Charges on Gold Jewelry in Pune

• Making charges is the cost for producing and designing a piece of jewellery that people purchase in Pune. In simple words, it is the price paid for converting raw gold into fine jewellery. 
• Besides this, in Pune, the purity of gold also varies for making charges. For instance, the making charges for a man-made jewellery is higher than for machine-made jewellery.
• The making charges differ from one jeweller to another in Pune. Some jewellers in Pune call it making charges, while some call it wastage charges. Sometimes, the gold rates in Pune may differ minutely among the jewellers.
• Some jewellers in Pune charge a flat percentage of the total weight of jewellery as making charges, while others charge a fixed flat per gram rate of gold. 
• The making charges in Pune start from 8% and can go up to 25%, depending on how intricate the jewellery design is. 
• Moreover, there are different schemes offered by jewellers in Pune which can benefit customers from zero making charges for gold, diamond or uncut jewellery. 

Things To Consider While Buying Gold in Pune

Gold is the precious and most secure form of investment. The following are the things you should consider while buying gold in Pune- 

• Price of Gold – The gold rates in Pune change daily, where they can increase or decrease based on various internal and external factors that determine the price of gold.
• Seller’s Reputation – Some sellers in Pune charge more for a relatively lower purity of gold, and buyers face loss when reselling their investment. Hence, it is better to deal with reputed and trusted jewellers in Pune.
• Authenticity of Purity of Gold – It can be received through hallmark by the Bureau of Indian Standards (BIS) and the jeweller’s mark in Pune. Therefore, it is better to buy hallmarked jewellery in Pune. 
• Bargain on Making Charges – Buying gold jewellery in Pune means spending extra money on marking charges. Hence, it is important to bargain here and reduce the making charges from the seller in Pune. 
• Purchase Invoice – It is important to take a purchase invoice while purchasing jewellery in Pune.  For reasons – like calculating capital gains tax if you wish to sell the jewellery for profit, personal records, etc.  
• Weight of Jewellery – While purchasing jewellery in Pune, it is important to check the weight of jewellery as precious stones and gems are used while crafting the jewellery to make the piece heavier. Sellers in Pune weigh the piece as a whole which can make the piece heavier. Thus, customers are paying more for the gold, which is not present. 

Hence, individuals must be careful while purchasing gold in Pune as it is a valuable asset, and the cost is extremely high. It is a long term investment and requires adequate research before buying. 

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