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Today Gold Rate In Nagpur

Updated on : 28 Apr 2024

gold rate today

22-carat gold Rate

₹ 6,685

(Per Gram)

gold price today

24-carat gold Rate

₹ 7,293

(Per Gram)

22 Carat & 24 Carat Compare Gold Rates In Nagpur (Today & Yesterday)

Gold Rate YesterdayGold Rate TodayPrice Change
22 Carat6,6856,6850
24 Carat7,2937,2930

Today 24 Carat Compare Gold Rate In Nagpur (Today & Yesterday)

Gram24 Carat Gold Price Yesterday24 Carat Gold Price TodayPrice Change
1 GRAM7,2937,2930
8 GRAM58,34458,3440
10 GRAM72,93072,9300
100 GRAM7,29,3007,29,3000

Today 916 KDM Gold Rate In Nagpur (Today & Yesterday)

Gram916 KDM Gold Rate Yesterday916 KDM Gold Rate TodayPrice Change
1 GRAM6,6856,6850
8 GRAM53,48053,4800
10 GRAM66,85066,8500
100 GRAM6,68,5006,68,5000

Today 22 Carat Compare Gold Price In Nagpur (Today & Yesterday)

Gram22 Carat Gold Price Yesterday22 Carat Gold Price TodayPrice Change
1 GRAM6,6856,6850
8 GRAM53,48053,4800
10 GRAM66,85066,8500
100 GRAM6,68,5006,68,5000

22 & 24 Carat Gold Rates In Nagpur for Last 10 Days (1 Gram)

DatePure Gold - 24 KStandard Gold - 22 K
Apr 27, 2024Rs. 6,685 (20) Rs. 7,293 (22 )
Apr 26, 2024Rs. 6,665 (40) Rs. 7,271 (44 )
Apr 25, 2024Rs. 6,625 (-35) Rs. 7,227 (-38 )
Apr 24, 2024Rs. 6,660 (45) Rs. 7,265 (49 )
Apr 23, 2024Rs. 6,615 (-140) Rs. 7,216 (-153 )
Apr 22, 2024Rs. 6,755 (-50) Rs. 7,369 (-55 )
Apr 21, 2024Rs. 6,805 (0) Rs. 7,424 (0 )
Apr 20, 2024Rs. 6,805 (-10) Rs. 7,424 (-10 )
Apr 19, 2024Rs. 6,815 (50) Rs. 7,434 (54 )

Historical Price of Gold Rates In Nagpur

Gold Rates22 Carat24 Carat
1 st April rateRs. 6,360 Rs. 6,938
28th April rateRs. 6,685 Rs. 7,293
Highest rate in AprilRs. 6,815 on April 19 Rs. 7,434 on April 19
Lowest rate in AprilRs. 6,335 on April 2Rs. 6,911 on April 2
Over all performanceRisingRising
% Change+5.11%+5.12%
Gold Rates22 Carat24 Carat
1 st March rate Rs. 5,790 Rs. 6,316
31st March rateRs. 6,275 Rs. 6,845
Highest rate in MarchRs. 6,300 on March 29Rs. 6,873 on March 29
Lowest rate in MarchRs. 5,790 on March 1Rs. 6,316 on March 1
Over all performanceRisingRising
% Change+8.38%+8.38%
Gold Rates22 Carat24 Carat
1 st February rateRs. 5,815 Rs.6,344
29th February rateRs. 5,759 Rs.6,283
Highest rate in FebruaryRs. 5,830 on February 2Rs. 6,360 on February 2
Lowest rate in FebruaryRs. 5,690 on February 15Rs. 6,207 on February 15
Over all performanceFallingFalling
% Change-0.96%-0.96%

The allure of gold and the yearning to own it dates back as far as the beginning of mankind itself. Gold is placed in the highest regard in every culture. In medieval times, it had magical importance. With passing years, gold has taken on many additional roles. Not only is it still prized for jewelry, but it also has various other applications in various fields. Gold has excellent thermal and electrical conductivity properties; hence is used for various industrial purposes. Additionally, because of its resistance to corrosion and antibacterial properties, it is used in the medical field. It is also bought as an investment because of its climbing price tag. From time immemorial, gold has been one of the most popular investment instruments for Indians. Even with rising prices, gold is viewed as a safe mode for investment.

Measurement of gold

The purity of gold is measured in karats, whereas the weight of gold is measured in troy ounces (1 troy ounce = 31.1034768 grams).

What is a karat?

A karat is used to denote the purity of gold. 24-karat gold is pure gold, but it is extremely malleable. Hence, it is mixed with a metal like copper or silver to make jewelry. One karat is equal to 1/24th of the whole. So, if a piece of gold is marked 18-karat, it means that it is made of 18 parts gold and 6 parts copper.

24 karat is 99.9% of gold while 22 karat is 91.6% is pure. That is why the price of 24 karat gold is higher than 22 karat gold.

Following is the fineness scale which is used while defining the purity of gold:

24 K = 99.9% Pure

22 K = 91.6% Pure

18 K = 75% Pure

14 K = 58.5% Pure

10 K = 41.7% Pure

Fun fact: Gold is a metal that is actually edible! Many high-end restaurants around the world add gold flakes and gold sheets to their dishes to give it extra flair and visual appeal. Also, did you know that Hallmarks, used to authenticate the origin and purity of gold, have been in use since the 14th Century?

Factors That Determine Gold Prices in Nagpur

While the demand for gold has a role to play in its fluctuating price, there are several other factors that determine the price of gold.  Following is an overview of some of the factors that affect the price of gold in Nagpur:

Industrial and Commercial demand

India and China are some of the largest consumers for gold jewelry. When the demand for jewelry increases and the supply is restricted, the price of gold automatically increases. As soon as the demand for gold decreases, the price of gold also depreciates.

Value of the US dollar

Since gold is priced in U.S. dollars, the value of the dollar largely impacts the price of gold. A falling dollar pushes up gold prices and vice versa. Conversely, a strengthening U.S. dollar (that often comes about because of a growing U.S. economy) pushes down gold prices. Note that gold and the U.S. dollar have an inverse relationship. When the US dollar is strong, investors invest in the currency rather than in the precious metal.

Supply and Demand

Simple supply-and-demand can influence physical gold prices. As with any product, increased demand along with a low supply causes the price to go up. Conversely, an overabundance of a product or service coupled with a feeble demand can cause the price to spiral down. The same principle applies to gold. Traditionally, there is a surge in gold demand during festive seasons, leading to a rise in gold prices.

Inflation

When inflation rises, the value of the currency goes down and therefore people invest in gold in order to hedge themselves from falling currency value. Hence, during times of inflation, especially over a longer period, gold becomes a valuable tool to hedge against economic uncertainties.

Seasonal demand 

Seasonal demand pushes the gold price higher. Again, this is related to the supply and demand principle. Traditionally, in India, the demand for gold rises during auspicious festivals, thereby pushing up the price of gold in Nagpur.

Apart from the above-mentioned factors, when demand for gold increases in the international market, the price of gold naturally increases in Nagpur too. It is important to note that gold prices can also vary across different states in India. This is due to the transportation cost associated with gold. Again, demand and supply influence the price of domestic gold.

Why gold prices in Nagpur differ from other cities?

Gold is a precious commodity in Nagpur that is imported from overseas. Cities that have ports have the chance of accessing gold much quicker. Due to the number of logistics involved, gold prices may vary from state to state and in different cities.

Buy gold in Nagpur

Gold is one of the most sought-after commodities in India, especially during festive seasons, when jewelers announce discounts and sales. Gold holds an important part in Indian culture, which is why it is much sought after.

Commonly, gold is bought as a form of investment due to its ever-increasing price. Following are some of the factors to keep in mind if you're looking to buy gold in Nagpur.

The purity of gold: The first thing to keep in mind is the purity—measured in karats—of gold. 24 karat is 99.9% of pure gold while 22 karat is 91.6% pure. Following is the fineness scale which is used while defining the purity of gold:

24 K = 99.9% Pure

22 K = 91.6% Pure

18 K = 75% Pure

14 K = 58.5% Pure

10 K = 41.7% Pure

When you buy gold jewelry, always check for its purity. The easiest way to check for the purity of gold is to look for hallmarking. A hallmarked piece of jewelry can be trusted for its authenticity and purity. It tells you the amount of gold in proportion with the metal alloyed. The Bureau of Indian Standards (BIS) is the accreditation agency that certifies and hallmarks gold jewelry by operating a hallmarking scheme.

Understand the Hallmarking of Gold: When you check for purity, it is important to understand how hallmarking works. Assaying and Hallmarking centers certified by the Bureau of Indian Standards (BIS) assess the gold quality sold by the jewelers. Only jewelers granted a licensee can get their gold jewelry assayed and hallmarked for purity by BIS-recognized Assaying and Hallmarking Centers in India.

Check the price of Gold: India is one of the largest importers of gold in the world. All gold supplies are imported from overseas. This means the price of gold in Nagpur is greatly influenced by the international market and currency fluctuations. Before buying gold, always check the per gram price on a reputed website like CreditMantri. It is important to note that the price of gold fluctuates on a daily basis.

Disclaimer: The information on the prices of the gold rate is merely indicative and is susceptible to change with market value and is provided on an as-is basis. The information contained here is not intended as investment advice. CreditMantri is in no way responsible for any loss arising from the use of data contained on this website.

Frequently Asked Questions: Gold Rates in Nagpur Today

1. What is troy ounce?

The weight of gold is measured in troy ounces (1 troy ounce = 31.1034768 grams), however, its purity is measured in ‘karats”.

2. How do you read a hallmark?

Any certified jewelry that has a hallmark will come with a number attached to it. It also has a BIS stamp on it. The gold has the jeweler’s identification mark and the year of hallmark.

3. What is finesse?

Fineness is a way of expressing the metal content of gold in gold jewelry and represents the purity in parts per thousand. When stamped on the jewelry, usually this is stated without the decimal point.

4. What is the difference between 22K and 24K gold jewelry?

The “K” stands for karat, which represents the purity of gold. Because pure gold is very malleable, goldsmiths mix it with other metals like silver or copper to make it more durable and harder. The higher the karat number, the higher the percentage of pure gold in the jewelry. The higher the karat, the higher the cost.

5. Which gold is better to buy, 22 karats or 24 karats?

24 K is the purest form of gold. 24 K is expensive than 22 K gold, as well as extremely pliable. Hence, if you are buying gold jewelry, 22 K is preferred by many as it lasts longer for jewelry.

6. What are the taxes when buying gold jewelry in Nagpur?

With the introduction of Goods and Services Tax (GST) in India, the customer is required to pay 3% on the value of the gold jewelry including making charges

7. Where can I get a regular update on gold rates in Nagpur?

You can check online portals such as CreditMantri for the latest gold prices in Nagpur.

8. Is gold toxic?

Although gold is a dense metal, it is generally non-toxic. Gold sheets are used in food decorations for years and can be consumed safely.

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