Gold Rate in Nagpur

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Gold Price in Nagpur

Investing in gold in India, to the average Indian, means purchasing gold jewelry and/or ornaments. At least this is what it is in the traditional sense, but a new wave of information and awareness is bringing India to the forefront of investments in gold as a tradable commodity. In Nagpur, second capital of Maharashtra, the perception of gold is changing from jewelry to high-valued investment option.

Trend of gold Rate in Nagpur for October 2018 (rates per gram)

Parameters	Gold price (24 carat)
October 1 Rate	Rs.3,140 per gram
October 31 Rate	Rs.3,302 per gram
Highest Rate in October	Rs.3,302 per gram on 30 and 31 October
Lowest Rate in October	Rs.3,140 per gram on 1 October
Overall Monthly Performance	Incline
Percentage Change	5.15%

Trend of gold Rate in Nagpur for September 2018 (rates per gram)

Parameters	Gold price (24 carat)
September 1 Rate	Rs.3,10 4 per gram
September 30 Rate	Rs.3,140 per gram
Highest Rate in September	Rs.3,178 per gram on 26 and 27 September
Lowest Rate in September	Rs.3,104 per gram on 1 September
Overall Monthly Performance	Incline
Percentage Change	1.15%

Trend of Gold Rate in Nagpur for August 2018 (rates per gram)

Parameters	Gold price (24 carat)
August 1 Rate	Rs.3,091 per gram
August 31 Rate	Rs.3,104 per gram
Highest Rate in August	Rs.3,104 per gram from 28 to 31 August
Lowest Rate in August	Rs.3,031 per gram on 20 and 21 August
Overall Monthly Performance	Incline
Percentage Change	0.42%

August 2018 - Week 1 (1 - 5):

• Gold rate in Nagpur was recorded holding at Rs.3,091 per gram on the 1st when trading commenced for the month.
• With market participants speculating ahead of the US Federal Reserve monetary policy review, the US dollar surged. This led to gold prices dropping considerably during the week.
• Gold price in Nagpur was recorded trading at 3,081 per gram on the 2nd before plunging to Rs.3,070 per gram on the 3rd amid the strengthening US dollar and well-performing equity markets.
• The week concluded with the gold rate in Nagpur closing at Rs.3,053 per gram on the 5th as the US dollar dominated against a basket of currencies making the bullion expensive for foreign investors.

August 2018 - Week 2 (6 - 12):

• The second week began with gold priced at Rs.3,053 per gram on the 6th with domestic markets weighed upon by the strong greenback overseas.
• Gold rate in Nagpur surged to Rs.3,058 per gram the next day as the US dollar index lost ground following the release of the poor US jobs and payrolls’ data.
• The dollar, however, regained lost ground over the next couple of days and gold in Nagpur was priced at Rs.3,043 per gram on the 8th.
• Weak global cues coupled with subdued domestic demand from industries, retailers and jewellers led to the gold price in Nagpur remaining untouched at Rs.3,043 per gram for the remainder of the week.

August 2018 - Week 3 (13 - 19):

• The week saw gold rate in Nagpur initially picking up the pace before stabilising at a relatively lower level amid the recovering dollar and equities.
• Gold in Nagpur was recorded trading at Rs.3,043 per gram on the 13th with steady local demand amid firm overseas trends.
• With bullion markets capitalising on the weakening dollar, demand for the metal surged and gold was priced at Rs.3,056 per gram on the 14th.
• Strong local demand coupled with favourable market trends led to the gold price in Nagpur holding at Rs.3,061 per gram on the 15th and the 16th.
• However, with the US dollar regaining lost ground against other apex currencies, demand for the metal flatlined towards the end of the week.
• The week ended with gold price in Nagpur holding at Rs.3,047 per gram on the 19th with subdued but steady investor demand amid the uneven cues globally.

August 2018 - Week 4 (20 - 26):

• The week began with gold in Nagpur recording its lowest monthly figure of Rs.3,031 per gram on the 20th with global demand capped by the strong greenback and equities.
• Prices remained untouched at Rs.3,031 per gram the next day before an increase in domestic retail demand led to gold rate in Nagpur rebounding to Rs.3,045 per gram on the 22nd.
• The next couple of days saw the gold price in Nagpur holding firm at Rs.3,045 per gram with steady demand from local retailers and jewellers before rising to Rs.3,052 per gram on the 25th.
• The week came to an end with gold priced at Rs.3,052 per gram on the 26th amid the firm trend overseas.

August 2018 - Week 5 (27 - 31):

• The last week began with gold in Nagpur trading at Rs.3,052 per gram on the 27th with local bullion market capitalising on the previous week’s gains.
• The 28th witnessed gold rate in Nagpur surging to a monthly high of Rs.3,104 per gram as the US dollar weakened ahead of the Federal Reserve Chairman’s statement on the interest rate hike.
• Steady investor demand coupled with positive market trends led to the gold price in Nagpur remaining untouched at Rs.3,104 per gram for the rest of the week.
• Gold in Nagpur rose by 0.42% on account of the positive overseas trends that pushed demand higher during the month.

Trend of Gold Rate in Nagpur for July 2018 (rates per gram)

Parameters	Gold price (24 karat)
July 1 Rate	Rs.3,142 per gram
July 31 Rate	Rs.3,095 per gram
Highest Rate in July	Rs.3,148 per gram from 5 - 7 July
Lowest Rate in July	Rs.3,082 per gram on 19 - 24 July
Overall Monthly Performance	Decline
Percentage Change	-1.49%

July 2018- Week 1 (1-6)

• The month began with the Gold rate standing at Rs.3,142 per gram, a slight drop from the last month which can be associated with the dollar price strengthening.
• Gold prices crept up slightly on 5 May to Rs.3,148 per gram as the dollar dropped slightly, and trade policies regarding the Federal Reserve increasing interest rates created tension in the economy.
• Gold rates held steady for the following few days as the dollar eased ahead of the Federal Reserve's policy meeting (Fed Minutes) for July.
• The Gold rate for Nagpur remained stable at the end of the week standing at Rs. 3,148.

July 2018- Week 2 (7-13)

• The precious metal still stood steady at Rs.3,148 in the start of Week 2 despite a slight decline in dollar rates.
• In spite of the dollar weakening, Gold rates in Nagpur continued to remain stable up until 11 July.
• Gold prices in Nagpur decline caused due to an increased dollar while the trade spat between China and the USA escalated. The metal’s price on 13 July was Rs.3,129
• The price of the metal in Nagpur, at the end of Week 2, remained stable despite the fact that dollar rate increased.

July 2018- Week 3 (14-20)

• Gold price in Nagpur commenced at Rs3,129 at the start of Week 3, the same as the price of the metal at the end of Week 2.
• The dollar price continued to climb, which did not have an effect on the gold price in Nagpur for the coming few days. As on 13 July up to 18 July, the Gold rate stood still at Rs.3,129 per gram.
• Even weak demand for the precious metal unaffected its rate in Nagpur.
• US dollar dropped from a three-week high on 19 July, which lead to the deterioration of Gold rates in Nagpur. It stood at Rs.3,082 per gram on 19 July, and the week ended at the same price.

July 2018- Week 4 (21-31)

• The week started off with the Gold price in Nagpur amounting to Rs.3,082 per gram.
• US dollar declined to a two-week-low on 23 July, which did not affect the Gold prices in Nagpur. The Gold rate on 23 July, too, stood at Rs.3,082 per gram.
• On 24 July the US treasury yields rose, which also failed to alter the Gold rate in Nagpur.
• On 26 July, the Gold rate increased as US dollar slips after the President of USA, Donald Trump and European Commission President Jean-Claude Juncker agreed to work towards eliminating trade barriers. The price of Gold in Nagpur stood at Rs.3,095 per gram.
• The Gold rate then stabilised, and at the end of the month, the price in Nagpur was recorded at Rs.3,095.

Trend of Gold Rate in Nagpur for June 2018 (rates per gram)

Parameters	Gold price (24 karat)
June 1 Rate	Rs.3,208 per gram
June 30 Rate	Rs.3,142 per gram
Highest Rate in June	Rs.3,208 per gram from 1-4 June
Lowest Rate in June	Rs.3,142 per gram on 30 June
Overall Monthly Performance	Decline
Percentage Change	-2.05%

June 2018- Week 1 (1st - 10th)

• Gold opened the month priced at Rs.3,208 per gram in Nagpur as markets were volatile ahead of the North Korea- U.S. summit.
• Local demand for gold was on the decline as retail buyers reduced offtake due to high prices.
• The dollar strengthened ahead of the summit, which put pressure on bullion as international demand for the metal declined.
• Gold slipped to Rs.3,171 per gram on 5 June as anticipation over the impending summit led to investors moving away from bullion.
• Prices continued to drop as the week ended, with gold falling to Rs.3,167 per gram on 6 June before recovering to end at Rs.3,177 per gram on 10 June.

June 2018- Week 2 (11th - 17th)

• The second week saw a further decline in the price of gold as markets reacted to the news of the success of the summit between the United States and North Korea.
• Jewellers reduced demand for the precious metal as the dollar continued to rise on positive investor sentiment after the summit.
• Prices rose to Rs.3,186 per gram on 13 June as unemployment data from the United States was less than favourable.
• A slight dip in market performance as well as the renewal of trade war tensions between the U.S. and its allies led to demand for gold rising to Rs.3,200 per gram on 16 & 17 June.

June 2018- Week 3 (18th - 24th)

• The third week of June saw demand for gold fluctuate due to a revival in dollar fortunes as well as a bull run by equity markets.
• The week opened with gold priced at Rs.3,200 per gram on 18 June before prices fell sharply to Rs.3,175 per gram on 19 June.
• The rupee continued to fall against the dollar, which made gold imports more expensive as demand for the precious metal fell steadily.
• There wasn’t much movement in the price of gold till the middle of the week as gold continued to trade low locally.
• The end of the week saw a further reduction in the price of the yellow metal, as gold dropped to Rs.3,148 per gram on 23 June, with the price remaining stable till the week ended.

June 2018- Week 4 (25th - 30th)

• There was no change in the price of gold in the last week of June in Nagpur as demand for the metal was static.
• The week began with gold priced at Rs.3,148 per gram on 25 June as the possibility of an interest rate hike rose.
• Overseas demand for bonds and equities as well as the U.S. Dollar rose on the news of a rate hike, which led to stagnant demand for bullion.
• Local demand continued to suffer from a plunging rupee against the dollar, resulting in industrial orders also decreasing.
• A marginal drop in price was seen as the month ended, with gold priced at Rs.3,142 per gram to record a loss of 2.05% in value.

Trend of Gold Rate in Nagpur for May 2018 (rates per kg)

Parameters	Gold price (24 karat)
May 1 Rate	Rs.3,219 per gram
May 31 Rate	Rs.3,208 per gram
Highest Rate in May	Rs.3,228 per gram from 8 - 16 and 25 - 30 May
Lowest Rate in May	Rs.3,205 per gram from 17 to 24 May
Overall Monthly Performance	Decline
Percentage Change	-0.34%

May 2018 - Week 1 (1st - 6th):

• Nagpur’s gold rates began on a strong note before holding strong as demand was steady. While prices in other states and cities saw considerable fluctuations, local demand was comparatively better.
• The month began in Nagpur with gold opening at Rs.3,219 per gram as demand from jewellers and other investors was rather steady.
• Gold rate in Nagpur remained unchanged on the 3rd as well - continuing at Rs.3,219 per gram at the end of the day’s trading.
• As the US dollar strengthened and gold price in Nagpur dropped amidst weak cues, gold rates took a slight hit.
• On the final day of this week, i.e., the 6th, gold was priced at Rs.3,213 per gram on the - a Rs.6 decline from the first day’s rates.

May 2018 - Week 2 (7th - 13th):

• Gold rates had risen to Rs.3,228 per gram - a Rs.15 incline from the previous rates as demand surged after the dollar dropped.
• There was very little changes from the second day onwards as demand remained on the flatter side for the remaining days of the week.
• Gold rate in Nagpur was stable while rates fell in other Indian cities as demand was steady locally while it fell everywhere else.
• As purchases from the domestic market was strong, gold price in Nagpur remained at Rs.3,228 per gram from the 8th to the 13th of the month.

May 2018 - Week 3 (14th - 20th):

• Gold price in Nagpur continued to hold at Rs.3,228 per gram when the third week of May opened for trading.
• This continued till the 16th and the metal still traded at Rs.3,228 per gram as demand from local investors and traders was positive despite a weak trend.
• On the 17th, however, gold rate in Nagpur fell to Rs.3,205 per gram - a Rs.23 per gram drop - as the US dollar index surged and the precious metal’s rates plummeted.
• Demand, although on the lower side, was stable for the remaining few days of the week and the metal continued to trade at Rs.3,205 per gram till the closing hours of the 20th.

May 2018 - Week 4 (21st - 27th):

• The fourth week of May was no different in terms of trading with the precious metal’s rates recording very few changes.
• When the week began on the 21st, the metal was priced at Rs.3,205 per gram. With the local demand remaining steady gold rates continued to hold at Rs.3,205 per gram till the 24th
• The US dollar fell significantly after an unchanged rate by the Federal Reserve brought about a negative effect on the market.
• Bullion investors capitalised on this drop and prices went up as a result. On the 25th, prices went back up to Rs.3,228 per gram due to positive cues.
• The week ended with gold continuing to trade at Rs.3,228 per gram till the end of the week.

May 2018 - Week 5 (28th - 31st):

• The final week of May 2018 started with gold price in Nagpur holding a Rs.3,228 per gram - no change from the previous day’s rates.
• As there was a positive trend and a sustained local demand, gold continued at Rs.3,228 per gram till the 30th of the month.
• Due to trends bottoming out, gold rate in Nagpur dropped to a near monthly low tally of Rs.3,208 per gram. This drop was a result of weak cues globally which had a knock-on effect in various other cities including Nagpur.
• Gold price trends dropped by 0.34% this month as the final day’s change in rates sabotaged the growth seen in the preceding 30 days.

Trend of Gold Rate in Nagpur for April 2018 (rates per gram for 24 karat gold)

April 2018 - Week 1 (1st - 7th)

• Compared to the other major cities in the country, gold prices in Nagpur stayed rather steady for the entirety of this week.
• On the 1st of April, when the month began, gold was priced at Rs.3,148 per gram.
• While the rest of the world was influenced by the likely trade war involving the US, Nagpur and its surrounding cities from Maharashtra saw little change.
• When the month drew to a close, gold prices were still holding at Rs.3,148 per gram.

April 2018 - Week 2 (8th - 15th)

• Gold rates in Nagpur had seen little changes over the weekend due to a lack of cues, and the precious metal was still priced at Rs.3,148 per gram when the second week began.
• Happenings in the global and the domestic market had little bearing on gold rates in this city, and the metal traded at Rs.3,148 per gram till the 12th of the month.
• On the 13th, gold rates surged to Rs.3,184 per gram - the month’s highest rates as demand from the local market surged.
• The week drew to a close on the 15th and gold was still priced at Rs.3,184 per gram.

April 2018 - Week 3 (16th - 23rd)

• The third week began on the 16th with the gold being priced at Rs.3,184 per gram as no change in demand was recorded.
• Gold prices continued to remain at Rs.3,184 per gram till the 18th as demand was steady.
• On the 19th, prices surged to Rs.3,211 per gram as the US dollar weakened amidst concerns over rising retail inflation.
• For the remainder of the week, gold rates continued to remain at Rs.3,211 per gram as demand was largely steady from key sections in the city.

April 2018 - Week 4 (24th - 30th)

• During the final week, gold prices witnessed very little changes, thanks to strong and stable local demand.
• The 26th saw gold rates rise to Rs.3,232 per gram - the month’s highest figure - as demand from domestic investors despite considerable changes in the global bullion market.
• During the 27th, gold prices were still at Rs.3,232 per gram before dropping to Rs.3,219 per gram as demand dropped.
• The final two days, i.e., the 29th and the 30th, gold rates continued at Rs.3,219 per gram as local demand was stable.
• Gold price trend recorded a 2.25% incline this April, thanks to a steady rise in demand seen during the third week.

Trend of Gold Rate in Nagpur for March 2018 (rates per gram for 24 karat gold)

March 2018- Week 1 (1-4)

• Gold prices in Nagpur were steady in the first week of March, with the precious metal trading at Rs.3,147 per gram as trading opened.
• There was no change in price during the week as demand was stable and international demand was also muted due to a rising U.S. Dollar.
• In spite of a drop in the dollar rate due to fears of a trade war with China, there was no change in the price of gold in Nagpur, resulting in the week ending with the metal priced at Rs.3,147 per gram on 4 March.

March 2018- Week 2 (5-11)

• Prices were stable as the second week began, with gold trading at Rs.3,147 per gram on 5 March as there was minimal change in demand.
• There was a minor drop in international demand for gold in spite of markets being shaky over the U.S. announcement of trade tariffs on steel and aluminium.
• There was a slight rise in price as gold traded at Rs.3,148 per gram on 8 & 9 March as the dollar dipped on news of trade tariffs and internal political crises in the U.S.
• In spite of positive global movement in bullion, prices in Nagpur dropped to Rs.3,134 per gram on 10 March.
• Prices remained the same as the week ended on 11 March, with gold priced at Rs.3,134 per gram.

March 2018- Week 3 (12-18)

• There was no change in the price of gold as the week began due to stagnant demand from local jewellers due to the end of the wedding season.
• Gold prices traded at Rs.3,134 per gram from 12-16 March in spite of fluctuations in demand across the world.
• The surprise replacement of Rex Tillerson as U.S. Secretary of State led to stock markets and the dollar index falling, which led to a rise in demand for safe-haven assets like gold.
• However, a strong local equity market led to local demand for gold falling as the metal’s price dropped to Rs.3,123 per gram on 17 March, with prices remaining constant as the week ended on 18 March.

March 2018- Week 4 (19-25)

• Prices were constant as the week began in Nagpur, contrary to trends seen across other Indian cities.
• Gold was priced at Rs.3,123 per gram on 19 March as a slow opening week for the metal was attributed to lower demand from jewellers.
• International demand rose as speculation over the successor to Rex Tillerson and the impact to U.S. foreign policy caused stock markets to be jittery, renewing interest in bullion.
• Prices jumped to Rs.3,148 per gram on 24 March ahead of the Fed Reserve meeting and an increase in industrial demand.
• The week ended with gold priced at Rs.3,148 per gram on 25 March on steady demand from local industrial units.

March 2018- Week 5 (26-31)

• The last week of March saw the price of gold remain constant as stable demand regularised prices.
• Gold was priced at Rs.3,148 per gram on 26 March as a shaky dollar rate resulted in greater demand for bullion as a hedge against possible losses on the bourses.
• Local retail demand was flagging but industrial demand kept prices from falling during the week.
• The month ended with gold trading at Rs.3,148 per gram on 31 March, with the metal making a a mere 0.03% increase in price over the course of the month.

Trend of Gold Rate in Nagpur for February 2018 (rates per gram for 24 karat gold)

February 2018- Week 1 (1-4)

• Gold prices in Nagpur opened at Rs.3,128 per gram as the month began, following a period of turbulence and market uncertainty.
• Prices fell as equity markets anticipated positive U.S. jobs market data, leading to a decline in demand for the precious metal.
• Demand was weak before international demand for the metal picked up after a drop in equity markets overseas.
• Local demand was subject to international trends, though demand from jewellers helped keep prices from falling too steeply.

February 2018- Week 2 (5 -11)

• Demand for gold surged after a steep drop in equity markets as investors sold equities in droves and markets fell by 10%.
• The week began with gold rate in Nagpur priced at Rs.3,148 per gram on 5 February but fell due to a fall in local demand.
• The U.S. Dollar rate was also unsteady but the possibility of interest rate hikes later kept the dollar in positive territory.
• Demand for gold fell to its lowest rate for the month from 9-11 February, trading at Rs.3,091 per gram as orders from industrial units as well as jewellers was poor.
• The dismal week’s performance was in stark contrast to gold prices across the world, where investors rushed to invest in the safe haven asset due to declining equities.

February 2018- Week 3 (12 -18)

• The third week saw the price of gold open at Rs.3,103 per gram on 12 February as the metal began a recovery after suffering sharp drops in value in the past week.
• International demand was stabilising after the initial surge in demand for the metal, which led to gold price in Nagpur dropping marginally.
• Gold traded at Rs.3,129 per gram on 16 February as sales picked up after Valentines Day, though margins were lower than usual.
• Industrial units were still cautious, with a drop in orders as the U.S. Dollar traded strongly against other global currencies, making imports of gold more expensive.
• The week ended with another surge in the price of gold as the metal traded at Rs.3,148 per gram on 18 February.

February 2018- Week 4 (19 -25)

• Prices were steady and there was no change in price from the previous week, with gold priced at Rs.3,148 per gram on 19 February.
• A weak dollar rate as well as strong global cues led to stable demand for the yellow metal, with local demand keeping apace with the spike in international demand for the metal.
• A rise in equity markets ahead of the minutes of the U.S. Fed Reserve meeting led to a slide in international demand for golf, though local demand did not see much change.
• The week ended with gold priced at Rs.3,145 per gram o 25 February as stable demand from the retail market kept prices stable in spite of fluctuation in international demand.

February 2018- Week 5 (26 -28)

• The last week of February saw the price of gold trade at stable rates as demand was steady across the local as well as international gold markets.
• The yellow metal opened the week trading at Rs.3,145 per gram on 26 February, with a slight increase in price recorded as the week progressed.
• Reverses in the price of gold in the international market did not impact local demand much, as prices remained steady at Rs.3,147 per gram on 28 February to record a 0.60% rise in value during the month.

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Trend of Gold Rate in Nagpur for January 2018 (rates per gram for 24 karat gold)

January 2018 - Week 1 (1st - 7th):

• When trading began for the new year, gold was priced at Rs.3,093 per gram.
• As demand from the local market was steady, gold continued to trade at Rs.3,093 per gram over the next two days as well.
• Due to a rising US dollar, gold rate in Nagpur dropped down to Rs.3,080 per gram on the 4th of January and remained there for the remaining few days of the week.
• The rise though, happened due to the imminent arrival of the jobs data, which many expected would be positive. This caused gold demand to plummet and the US dollar to rise.
• However, the data wasn’t as positive as expected, which increased safe-haven demand and the US dollar declined.

January 2018 - Week 2 (8th - 14th):

• When the second week of January began in Nagpur, gold was priced at Rs.3,080 per gram.
• Gold prices was Rs.3,080 per gram on the 9th as well as there was no major factors influencing the metal’s rates.
• After the effects of the rising dollar went down, gold rate in Nagpur went up to Rs.3,087 per gram on the 10th before rising again to Rs.3,094 per gram the next day.
• On the 12th, gold traded at Rs.3,111 per gram as demand continued to rise as the US dollar endured a tough time.
• The next day, i.e., on the 13th gold price in Nagpur rose to Rs.3,114 per gram as international demand also surged.
• Gold rates increased significantly on the 14th when the metal traded at Rs.3,147 per gram as the week came to an end.

January 2018 - Week 3 (15th - 21st):

• Gold traded at Rs.3,147 per gram on the 15th and 16th of January as local demand held steady amid stable buying trends from local investors.
• On the 17th, Gold price in Nagpur went up to Rs.3,162 per gram before continuing at this rate till the 19th of January.
• However, Gold rate in Nagpur fell to Rs.3,148 per gram on the 20th as demand took a hit. This rate held on till the closing hours of the week.

January 2018 - Week 4 (22nd - 28th):

• When the fourth week’s trading commenced, gold was seen trading at Rs.3,148 per gram.
• This rose to Rs.3,152 per gram on the 23rd as there was a movement in local demand figures.
• Gold price in Nagpur continued at largely the same rate on the 24th before going up to Rs.3,164 per gram on the 25th of the month.
• Gold rate in Nagpur recorded on the 25th was the highest for the month. This was made possible by a consistently weakening dollar, which was hit by various issues in the US.

January 2018 - Week (29th - 31st):

• When the final week’s trading began, gold was priced at Rs.3,144 per gram.
• As demand was good, gold price in Nagpur continued to sell at Rs.3,144 per gram on the 30th of the month too.
• However, as demand dropped, gold rate in Nagpur went down to Rs.3,121 per gram. Overall, gold price trend saw a 0.90% increase.

Trend of Gold Rate in Nagpur for December 2017 (rates per gram for 24 karat gold)

December 2017 - Week 1 (1st to 10th)

• Trading opened in Nagpur with the yellow metal priced at Rs.3,078 per gram on the qst of December.
• Demand for the metal picked up with the US dollar losing against other emerging currencies in the world market. This led to gold price in Nagpur surging to Rs.3,094 per gram the next day.
• Gold rate in Nagpur remained unchanged at Rs.3,094 per gram until the 4th with steady domestic demand from jewellers, industries and retailers.
• Gold prices declined to Rs.3,061 per gram on the 5th after the US greenback gained significantly after approval of the US tax reform bill by the US Senate.
• With the dollar regaining lost ground and the equity markets performing well ahead of the US Federal Reserve monetary policy meeting next week, gold rates plunged to Rs.3,048 per gram on the 6th.
• Gold rates dropped further to Rs.3,045 per gram on the 7th before plummeting to Rs.3,014 per gram - the lowest in four months - on the 8th amid a strengthened US dollar firmer equity markets.
• The steady but subdued demand amid the poor trend overseas resulted in the bullion being priced at Rs.3,014 per gram for the remainder of the week.

December 2017 - Week 2 (11th to 17th)

• The week began with gold prices holding steady at Rs.3,014 per gram on the 14th amid the poor global cues.
• On the 12th, gold price in Nagpur plunged to Rs.2,988 per gram with a significant drop in domestic demand amid the strong US dollar index. The bullion continued trading at the same rate on the 13th amid the poor trends overseas.
• The dollar, however, lost its sheen after the Federal Reserve decided to raise its benchmark interest rates. The precious metal was priced at Rs.3,010 per gram on the 14th.
• Prices remained unaltered at Rs.3,010 per gram for the rest of the week with steady demand from local jewellers, industries and retailers.

December 2017 - Week 3 (18th to 24th)

• Poor global demand coupled with the strengthening US dollar led to gold opening at Rs.3,000 per gram on the 18th.
• Gold price in Nagpur surged to Rs.3,012 per gram on the 19th with investors cautious over the US tax bill’s negative impact on the US economy.
• Though gold rate in Nagpur remained unchanged at Rs.3,012 per gram on the 20th, prices dropped to Rs.3,010 per gram the next day with the US dollar recovering from the previous weeks’ losses.
• The 22nd, however, saw bullion prices rebounding to Rs.3,013 per gram owing to an increase in domestic demand brought about by the positive trends overseas.
• With the new US tax cuts proving to be unfavourable for the Asian stock markets, gold rates remained unchanged at Rs.3,013 per gram for the remainder of the week.

December 2017 - Week 4 (25th to 31st)

• Trading commenced for the week with the bullion priced at Rs.3,013 per gram on the 25th.
• With the US dollar losing against a basket of other emerging currencies, investors gravitated towards safe-haven assets such as gold. This led to gold price in Nagpur rising to Rs.3,035 per gram on the 26th which further surged to Rs.3,048 per gram on the 27th.
• The 28th witnessed the bullion prices rising again to Rs.3,068 per gram amid the strong global trends that pushed demand higher for the yellow metal.
• A slight increase in domestic demand led to rates rising to Rs.3,070 per gram the following day.
• The last two days saw gold prices in Nagpur holding steady at Rs.3,093 per gram with steady demand from local jewellers, retailers and industries amid the positive trends overseas.
• Nagpur registered an incline of 0.61% in gold rates during the course of the month.

Trend of Gold Rate in Nagpur for November 2017 (rates per gram for 24 karat gold)

November 2017 - Week 1 (1st - 5th)

• Gold price in Nagpur were on the weak side this week because of a poor global outlook.
• When the week started, gold was priced at Rs.3,070 per gram - a Rs.18 decline from the previous day’s rates.
• A steady local demand, though, saw gold rate in Nagpur push up to Rs.3070 per gram on the 2nd of November.
• On the 3rd, however, gold rates fell to Rs.3,065 per gram as demand from domestic investors lost its steam.
• For the next two days, i.e., the 4th and the 5th, gold rates remained unchanged at Rs.3,065 per gram.

November 2017 - Week 2 ( 6th - 12th)

• The week began with the yellow metal trading at Rs.3,061 per gram on the 6th as investors speculated towards the end of the two-day monetary policy meeting by Federal Reserve.
• Gold demand saw an increase due to heightened purchases in the Asian markets. This led to gold trading at Rs.3,081 per gram on the 7th.
• The US dollar dropped with markets concerned over possible delays in President Trump’s tax reform. This led to gold prices in Nagpur rising to Rs.3,087 per gram and Rs.3,090 per gram on the 8th and 9th respectively.
• The 10th witnessed gold rates hitting a three-week high of Rs.3,099 per gram with the dollar losing against a basket of other major emerging currencies.
• However, gold price in Nagpur dropped on the 11th amid poor global trends, and a subdued demand from local jewellers, and the precious metal was trading at Rs.3,093 per gram.

November 2017 - Week 3 (13th - 19th)

• When trading for this week commenced in Nagpur, gold was priced at Rs.3,093 per gram.
• A rise in domestic demand saw gold rate in Nagpur increase to Rs.3,101 per gram on the 14th of the month. A short drop in intensity caused gold rates to fall to Rs.3,099 per gram on the 15th.
• The US dollar’s strong performance, thanks to the treasury yields, caused gold rates in the city to drop to Rs.3,093 per gram on the 16th.
• On the 17th and the 18th, demand for gold was steady, leading to the metal trading at Rs.3,090 per gram.
• A significant spike in demand seen on the 19th caused gold to trade at Rs.3,115 per gram till the closing hours of the day.

November 2017 - Week 4 (20th - 26th)

• When the week began in Nagpur, gold was priced at Rs.3,115 per gram.
• A cautious approach taken by the local investors led to gold price in Nagpur falling to Rs.3,091 per gram on the 21st, which continued till the closing hours of the next day.
• As gold demand surged internationally, gold price in Nagpur went up to Rs.3,102 per gram on the 23rd of the month.
• On the 27th of November, gold was priced at Rs.3,103 per gram and continued at the same rate on the 28th as well.
• The 29th saw gold rate in Nagpur drop to Rs.3,098 per gram due to a poor local trading, which was brought about by a strong US dollar.
• When the month ended, the metal was last seen trading at Rs.3,081 per gram - a Rs.22 per gram drop in less than a week.

Buying Gold in Nagpur

There are many traders, merchants, established sellers and certified authorities selling gold in the great city of Nagpur, such as Shri Nirmal Jewellers, Sona Hira Chand Rupchand, V M Jewellers, Jos Alukkas Jewellery, Inter Gold Gems Private Limited, Wadilal Parekh and Sons, Tanishq, Pure Gold, etc.

When buying gold in Nagpur, it is highly recommended that you buy from a well-established and certified dealer. Ensure that the gold is marked, stamped, engraved or in some way certified and determined to be authentic gold of whichever purity you choose – 22 karat or 24 karat. Make sure that you also get a certificate of authenticity which contains details of purity, gold rate on the date of purchase and the amount of gold purchased – along with the gold.