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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.
Investing in Gold in Nagpur – types and options available
Gold coins – After gold jewelry and ornaments, gold coins are the most common type of gold that’s purchased as an investment (especially in India). Gold coins are available in various weights like 1 gram, 2 grams, 5 grams, 10 grams, etc. and represent smaller investments than, say, gold bullion. Your investments will be subject to the same market factors that affect the price of all types of gold, but your risk will be significantly lesser as the denominations are lower, and coins can be purchased at any time during the year. Purchasing a few coins a month of a standard weight can be used to average out the gold price you’ve paid as the average gold price in India in that particular year. Gold coins are easy to acquire and provide a way for low and medium income groups to invest in gold as a commodity.
Gold bullion – Standard-sized pieces of gold, gold bars (like in the movies) and gold tablets fall under the definition of gold bullion. Gold bullion is bought primarily as an investable commodity, in larger quantities, from a certified authority. It is generally traded in weightages over 500 grams, the most common being 1 kilo. Gold bullion also facilitates international gold trading and is one of the most common ways in which gold is transferred overseas, apart from gold ownership certificates. Most types of gold bullion are internationally tradable.
Jewelry and Ornaments – are bought and sold in India at the drop of a hat, for weddings, naming ceremonies, festivals, etc. and are the most common form of gold in the country. It should be noted that when gold is shaped into ornaments and jewelry, it is sometimes mixed with an alloy to allow for greater malleability, which results in the loss of some purity. Gold in this form has utility as a gift, a daily use item and also as a means of preserving the asset value, should the need arise to sell it.
It’s very important to read up on the factors that affect the gold rate, such as the strength of the US Dollar, demand versus supply, international currency movements, etc. before deciding on the right time to invest. Investing and trading in gold is an activity centered on the right timing.
Trend of Gold Rate in Nagpur for August 2016 (rates per gram for 24k Gold)
|First Day||Rs.3,249 per gram|
|Last Day||Rs.3,225 per gram|
|Highest Price||Rs.3,283 per gram on 18th August|
|Lowest Price||Rs.3,225 per gram on 31st August|
August '16 - Weeks 1 (1st to 7th)
- Gold traded at Rs.3,249 per gram on 1st August.
- Prices were on the path of inclination as the U.S. economic data was much slower that expected.
- Prices reached Rs.3,275 per gram on 3rd and 4th August, the highest for the week.
- Prices fell to Rs.3,226 per gram on 6th August but domestic demand was stable and prices remained constant going into the second week.
August '16 - Week 2 (8th to 14th)
- Gold rates saw brighter days in the second week of August as the dollar lost its strength.
- Prospects of an interest rate hike by the U.S. Federal Reserve were muted for this month.
- Gold rates climbed to Rs.3,260 per gram on 10th August and remained constant through the week.
- Constant rates were a direct result of sustained demand flowing into the domestic market from jewellers preparing for the festivals.
August '16 - Week 3 (15th to 21st)
- Prices climbed steadily on account of demand in the domestic market.
- Gold traded at Rs.3,260 per gram on 15th August and was seen trading at the highest for the month on 18th August at Rs.3,283 per gram.
- As the dollar gathered power on account of the U.S. economy growing stronger, gold prices started to slip towards the end of the week.
August '16 - Week 4 (22nd to 28th)
- A firm dollar led to prices slipping this week.
- Gold traded at Rs.3,268 on 7th to 26th August.
- Demand in the domestic spot market helped gold maintain its stability this week.
- Prices are expected to drop further as the U.S. economy gains momentum.
August '16 - Week 5 (29th to 31st)
- Gold continued the constant rates from the previous week, trading at Rs.3,236 per gram.
- On 31st August, gold rates had dropped to the lowest seen this month when it traded at Rs.3,225 per gram.
- A rate hike is expected to be rolled out by the U.S. Federal Reserve in the coming months.
- Gold prices may be impacted further, but demand during the festival season in the domestic market might lend some support to the yellow metal.
|1st July Rate||Rs.3,112 per gram|
|31stt July Rate||Rs.3,249 per gram|
|Highest Rate in July||Rs.3,249 per gram on 31st July|
|Lowest Rate in July||Rs.3,112 per gram on 1st July|
|Overall Performance||Increase in price|
|% Change||+4.40% increase|
July'16 - Week 1 (1st to 3rd)
- Gold prices in Nagpur increased marginally during the week, buoyed by heightened demand and strong international trends.
- The markets were still recovering from their losses after the British referendum results.
- Gold traded at Rs.3,182 per gram at the end of the week, an increase of Rs.60 from the start of the week.
July'16 - Week 2 (4th to 10th)
- Prices fell gradually as the markets recovered, posting strong gains.
- The Dollar gained on global currencies, lowering demand for gold.
- Gold retailed at Rs.3,246 per gram as the week ended, an increase of Rs.64 from the start of the week.
July'16 - Week 3 (11th to 17th)
- Prices were static for most of the week due to demand being stagnant.
- International trends pointed to lowered demand as markets rose.
- Gold traded at Rs.3,234 per gram as the week ended.
July '16 - Week 4 (18th to 24th)
- There were minor fluctuations in the price of gold as demand fell slightly.
- With the markets stable, demand was muted.
- The price of gold was Rs.3,223 per gram at the end of the week, a drop of Rs,10 from the start of the week.
July‘16 - Week 5 (25th to 31st)
- Prices were stable throughout the week due to the rising Dollar and stock markets.
- The disappointing data on projected economic growth led to stocks falling and gold demand rose.
- The price of gold reached Rs.3,249 as the month ended, a difference of Rs.16 from the start of the week.
|1st June rate||Rs.3,038|
|30th June rate||Rs.3,112|
|Highest rate in June||Rs.3,192 per gram on 27th June|
|Lowest rate in June||Rs.3,015 per gram on 3rd June|
Jun'16 - Week 1 (1st to 4th)
- Gold opened at Rs.3,038 per gram on the 1st of the month and was steady until the next day.
- Gold prices declined slightly the next day, trading at Rs.3,015 per gram.
- The price of gold rose a little to close at Rs.3,063 per gram at the end of the week.
Jun'16 - Week 2 (5th to 11th)
- There were very minor fluctuations in the rate of gold during the second week of the month.
- The price of gold from the 5th to the 8th was Rs.3,078 per gram.
- The price increased slightly on the 9th and 10th to touch Rs.3,094 per gram.
- Gold closed at Rs.3,123 per gram on the last day of the week.
Jun'16 - Week 3 (12th to 18th)
- The rate of gold increased steadily from week 2.
- The price of gold was Rs.3,123 per gram throughout the entire week with no variations whatsoever.
Jun'16 - Week 4 (19th to 25th)
- The rate of gold was quite steady during week 4 except for a few variations here and there.
- The price of gold on the 19th was Rs.3,123 per gram as continued from the previous week.
- However, gold rate was Rs.3,075 per gram on the 20th until the 25th without any changes.
Jun'16 - Week 5 (26th to 30th)
- The rate of gold was steady at Rs.3,075 per gram and increased even more the next day, trading at Rs.3,192 per gram which was also the highest for the month.
- However, from the 28th to the 30th, there were no changes noted in the rate of gold and the precious metal traded at Rs.3,112 per gram.
|1st May rate||Rs.3,154|
|31st May rate||Rs.3,018|
|Highest rate in May||Rs.3,155 from the 8th to the 11th of May|
|Lowest rate in May||Rs.3,003 on the 30th of May|
|Overall performance||Loss / Negative|
May'16 - Week 1 (1st to 7th)
- Gold rates were recorded at Rs.3,154 on the 1st and 2nd of May after which a small decline in prices saw rates drop to Rs.3,139 on the 3rd day of the month.
- Prices dropped by Rs.6 to Rs.3,133 on the fourth day and remained unchanged on the fifth as well.
- A further decline by Rs.10 saw prices hit Rs.3,123 on the sixth day of the week and remained the same on the last day of the week.
- Prices fell consistently during the week and the difference in rates between the first and last day of the week was Rs.31.
May ‘16 - Week 2 (8th to 14th)
- Following an increase at the start of the week, gold rates remained stable at Rs.3,155 for the first four days of the second week.
- A decline by Rs.43 saw prices fall to Rs.3,112 on the fifth day of the week and rates remained unchanged for the remainder of the week.
- The overall decline in prices over the course of the week was recorded at Rs.43.
May ‘16 - Week 3 (15th to 21st)
- Gold prices rose by Rs.28 on the first day of the third week of May and stood at Rs.3,140 on the 15th and 16th of May.
- Prices then fell by Rs.12 to remain at Rs.3,128 for the next four days.
- Rates fell by Rs.34 on the 21st of May and the week closed at Rs.3,094 per gram.
- The third week of the month also recorded losses and the overall decline in prices over the course of the seven-day period was Rs.46.
May ‘16 - Week 4 (22nd to 31st)
- Gold prices remained constant at Rs.3,094 until the 24th of the month after which a decline of Rs.26 saw prices fall to Rs.3,068 and they remained unchanged for another day.
- Prices fell to Rs.3,040 on the 27th and again by Rs.15 on the 28th and remained at Rs.3,025 on the 28th and the 29th of May.
- A further decline by Rs.22 on the penultimate day of the month pushed prices to Rs.3,003, which was the lowest in May.
- Prices increased by Rs.15 on the last day of the month to close at Rs.3,018.
- Gold prices fell by Rs.136 between the first and last day of May.
|1st April rate||Rs 2,989|
|30th April rate||Rs 3,154|
|Highest rate in April||Rs 3,154 on 30th|
|Lowest rate in April||Rs 2,989 from 1st to 11th|
|% Change||+ 5.52%|
Apr ‘16 - Week 1 (1st to 3rd)
- Demand for gold reduced on account of impending decisions to be taken on a US Federal Rate Hike.
- Protests held in March impacted performance of gold locally, with no change in gold rates observed.
- Prices were steady at Rs 2,989 throughout the week.
Apr ‘16 - Week 2 (4th to 10th)
- A cautious approach by investors held to rigidity in markets, with demand declining.
- Rates were unchanged from the previous week in Nagpur.
- Gold rates stayed constant at Rs 2,989.
Apr ‘16 - Week 3 (11th to 17th)
- Demand for gold increased among investors, signalling a hike in rates.
- Gold traded at Rs 2,989 on 11th.
- Prices increased to Rs 3,038 on 12th and stayed at this mark till 17th.
Apr ‘16 - Week 4 (18th to 24th)
- A lull in the markets was witnessed for most of the week.
- Gold rates remained unchanged at Rs 3,038 till 23rd.
- A marginal drop was witnessed on 24th, as prices fell to Rs 3,033.
Apr ‘16 - Week 5 (25th to 30th)
- Gold rates appreciated during the final week of April.
- Gold traded at Rs 3,033 till 28th, before witnessing a steep rise.
- Prices went up by over Rs 80 on 29th, as gold traded at Rs 3,120.
- The month ended on a high, as gold traded at Rs 3,154.
|1st March rate||Rs 3,068|
|31st March rate||Rs 2,989|
|Highest rate in March||Rs 3,093 from March 12th to 17th|
|Lowest rate in March||Rs 2,989 from March 22nd to 31st|
Mar'16 - Week 1 (1st to 6th)
- Gold rate on March 1st stood at Rs 3,068.
- Protests against new government decisions to hike excise duty on gold led to closure of stores and gold markets.
- Prices remained constant at Rs 3,068 throughout the week due to this reason.
Mar'16 - Week 2 (7th to 13th)
- Protests continued into the second week, leaving trade suspended.
- Prices stayed at Rs 3,068 till the 11th.
- A slight increase was witnessed on 12th as rates moved to Rs 3,093.
Mar'16 - Week 3 (14th to 20th)
- Gold markets remained closed for most of the third week in the city.
- Prices stayed constant at Rs 3,093 till 17th.
- A drop of Rs 60 was witnessed on the 18th, as prices fell to Rs 3,033 and stayed at this mark for the rest of the week.
Mar'16 - Week 4 (21st to 27th)
- Most jewellers were open for business during the week, with rates remaining constant at Rs 3,033 on 21st.
- A marginal drop was witnessed in prices on 22nd, as rates fell to Rs 2,989.
- There was no change in gold rates for the rest of the week.
Mar'16 - Week 5 (28th to 31st)
- As the strike neared an end, almost all jewellery stores were back to business as normal.
- Prices though, stayed constant from the previous week.
- There was no change in gold rates, which remained at Rs 2,989 throughout the week.
|1st February rate||Rs.2,714|
|29th February rate||Rs.3,068|
|Highest rate in February||Rs.3,068 on 27th, 28th and 29th|
|Lowest rate in February||Rs.2,714 on 1st|
Feb '16 - Week 1 (1st to 7th)
- Gold rates appreciated in the 1st week.
- Prices were Rs.2,714 on 1st and Rs.2,882 on 7th.
- Gold was up on all days, settling at Rs.2,882 after gaining Rs.168 over the week.
Feb '16 - Week 2 (8th to 14th)
- Gold rates declined in the 2nd week.
- Prices were Rs.2,875 on 8th and Rs.3,045 on 14th.
- Gold prices breached the 3,000 mark for the first time this month, touching Rs.3,045 on 12th and ending the week at the same rate after fluctuating on 13th.
Feb '16 - Week 3 (15th to 21st)
- Gold was up again in the 3rd week.
- Prices were Rs.2,994 on 15th and Rs.3,028 on 21st.
- Gold dropped to Rs.2,952 on 16th before rallying to Rs.3,028 by the end of the week to once again settle at 3,000 plus rates.
Feb '16 - Week 4 (22nd to 29th)
- Gold rose in the 4th week also, ending a highly positive month for rates.
- Prices were Rs.3,005 on 22nd and Rs.3,068 on 29th.
- Gold did not have any negative sessions in the week, ending the month at net gains that breached 4-year high numbers.
|4 th January rate||Rs.2,621|
|31 st January rate||Rs.2,775|
|Highest rate in January||Rs.2,789 on 27th, 28th and 29th|
|Lowest rate in January||Rs.2,541 on 5th|
- Gold rates were marginally up in the 1st week of trading in the New Year as domestic demand from jewellers picked up and global cues were strong.
- Prices were Rs.2,621 on 4th and Rs.2,630 on 10th.
- Gold lost value to settle at Rs.2,583 by 5th before rallying to Rs.2,630 by 9th.
- Gold was stable at Rs.2,630 on 10th.
- Gold rates declined in the 2nd week.
- Prices were Rs.2,636 on 11th and Rs.2,598 on 17th.
- Gold was stable till 13th before dropping to Rs.2,598 on 14th and remaining stable at that level for the rest of the week.
- Gold gained significant value in the 3rd week.
- Prices were Rs.2,654 on 18th and Rs.2,729 on 24th.
- Prices dropped marginally to Rs.2,644 on 19th but rallied to Rs.2,736 by 22nd.
- Gold prices were volatile in the last two days but settled at Rs.2,729 on 24th.
- Gold appreciated again in the 4th week.
- Prices were Rs.2,729 on 25th and Rs.2,775 on 31st.
- Gold rose to Rs.2,789 by 27th and settled at that level till 29th.
- Rates dropped to Rs.2,700 on 30th but were back to Rs.2,775 on 31st.
|1st December rate||Rs.2,550|
|31st December rate||Rs.2,558|
|Highest rate in December||Rs.2,665 on 5th and 6th|
|Lowest rate in December||Rs.2,550 on 1st|
- Gold rates appreciated in the 1st week of the month.
- It was priced at Rs.2,550 on 1st and Rs.2,596 on 7th.
- Gold rose to Rs.2,630 on 2nd before dropping to Rs.2,665 by 6th.
- There was a gain of Rs.35 on 7th when prices rose to Rs.2,596.
- Gold rates were volatile in the 2nd week.
- Prices were Rs.2,593 on 8th and Rs.2,597 on 14th.
- Gold dripped to Rs.2,565 by 12th.
- Prices rose to Rs.2,664 on 13th but the Rs.67 on 14th to end the week at Rs.2,597.
- Gold rates declined in the 3rd week.
- Prices were Rs.2,576 on 15th and Rs.2,552 on 21st.
- Prices dropped to Rs.2,560 by 18th before breaching Rs.2,600 mark on 19th to settle at Rs.2,614.
- Gold lost Rs.62 on 21st to settle at Rs.2,552.
- Gold rates were highly volatile in the final days of December.
- Prices were Rs.2,562 on 22nd and Rs.2,558 on 31st.
- Gold fluctuated between Rs.2,558 and Rs.2,637 till 27th.
- Prices dropped to Rs.2,558 on 28th and were mostly stable for the rest of the week.
|1st November rate||Rs.2,686.50|
|Highest rate in November||Rs.2,686.50 on 1st|
|Lowest rate in November||Rs.2,550 on 21st, 22nd and 25th|
- Gold rates dropped in the 1st week of the month.
- It was priced at Rs.2,686.50 on 1st and Rs.2,590 on 7th.
- Prices fell continuously for all days of the week except for 3rd when gold rose marginally to Rs.2,680 from Rs.2,674.
- Gold rates declined in the 2nd week.
- Prices were Rs.2,590 on 8th and Rs.2,557 on 14th.
- Gold rose to Rs.2,612 on 9th before falling to Rs.2,580 on 10th and again on 11th to Rs.2,573.50.
- Gold rose by a margin of Rs.54 on 12th to touch Rs.2,627 but lost Rs.26 and Rs.44 on 13th and 14th respectively, to settle at Rs.2,557.
- Gold rates declined marginally overall in the 3rd week.
- Prices were Rs.2,557 on 15th and Rs.2,550 on 21st.
- Gold rose significantly by a margin of Rs.123 on 16th to touch Rs.2,680.
- The gains were lost immediately over the course of next few days as prices dropped to Rs.2,562 by 19th.
- There was a slight gain on 20th when prices rose to Rs.2,571 but lost Rs.14 the next day to settle at Rs.2,557.
- Gold rates were stable overall in the final days of November.
- Prices were Rs.2,550 on 22nd and Rs.2,558 on 30th.
- Gold appreciated to Rs.2,579 on 23rd before settling back on Rs.2,550 on 25th.
- There was another appreciation on 26th which took rates to Rs.2,682.
- Gold lost Rs.24 over the next 2 days to end the month at Rs.2,558.
Market Rates & Gold Price Trends in Nagpur
The gold rate fluctuates, and it is during these fluctuations that investors can make money. At the start of April, 2015, the cost for 1 gram of 24 karat gold was Rs.2,622 and went up to Rs.2,700 by the start of May, 2015. By mid-May, the gold rate hit Rs.2,740, and dropped to Rs.2,690 by the start of June. In June, the gold rate had dropped down to Rs.2,655, but has now risen slightly and is plateaued at Rs.2,669 (as on 15th June 2015). Studying these fluctuations is the key to smart investing and eventually growing your finances by investing in gold in Nagpur.
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.
- Also Check:Gold Rate in Maharashtra
Also Check Gold Price in NearBy Cities of Nagpur
|Gold Rate In Pune||Gold Rate In Aurangabad||Gold Rate In Thane||Gold Rate In Nashik|
|Gold Rate In Solapur||Gold Rate In Amravati||Gold Rate In Nanded||Gold Rate In Sangli|
|Gold Rate In Sangli||Gold Rate In Jalgaon||Gold Rate In Kolhapur|
|Also Know: Silver Rate in Nagpur|
Read more on Gold
- Akshaya Tritiya – An Auspicious Day to Buy Gold
- Invest In Gold
- How to Buy Gold Online
- Where to Buy Gold In India
- Gold Coin or Gold Bar
- Global Demand for Gold
- Gold and Weddings
News About Gold Rate in Nagpur
Jewellers offer to stop selling bullion to end users
Jewellers have appeared with a negotiation table post their indefinite strike for a week against the budget proposal which is expected to impose 1% excise duty on gold. Traders of gold have come up with the decision to give the government with a condition that they will not sell bullion i.e. raw gold to consumers. Users will be given the opportunity to buy ornaments from all jewellery shops. This decision was made after daylong meeting in Mumbai with several representatives of various local level jewellers' associations, including the one that is based in Nagpur.
8th March 2016
- For more related news /update on gold price visit: Gold News