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 December 2020 (rates per gram of 24 karat gold)

Trend of Monthly Gold Rate in Nagpur for December 2020:

• Gold price in Nagpur was Rs.4,825 per gram on 1 December and showed an overall incline for the month even though it hit its monthly low on 2 December at Rs.4,793 per gram due to mute international trends.
• The price of the metal increased during the month amidst constant fluctuations due to various factors. On 22 December, gold rates hit its highest of the month at Rs.5,038 per gram and dipped marginally soon after.
• At the end of December, gold prices fluctuated and closed the month with an incline at Rs.4,994 per gram, recording a percentage incline of 3.50%.

Trend of Gold Rate in Nagpur for November 2020 (rates per gram of 24 karat gold)

Trend of Monthly Gold Rate in Nagpur for November 2020:

• Opening at Rs.5,096 per gram, gold rate in Nagpur showed a declining trend through the month due to higher risk appetite surrounding vaccine optimism. The price of the metal was at its highest on 10 November at Rs.5,223 per gram.
• The price of the metal fluctuated heavily during the month due to constant changes in the equities market and investors shifting towards the equities market.
• At the end of the month, the gold rate was at its lowest on 29 November at Rs.4,825 per gram and closed at Rs.4,826 per gram 30 November, recording a decline of 5.25% for the month.

Trend of Gold Rate in Nagpur for October 2020 (rates per gram of 24 karat gold)

Trend of Monthly Gold Rate in Nagpur for October 2020

• Gold rate in Nagpur opened the month at Rs.5,159 per gram on 1 October and was at its highest rate of the month on 10 October at Rs.5,202 per gram due to the rise in COVID-19 cases.
• However, by 18 October, the yellow metal had hit its lowest rate of the month at Rs.4,914 per gram and held steady on 19 October as well, as the value of the dollar increased in the international market.
• At the end of the month, gold price in Nagpur closed at Rs.5,162 per gram on 31 October, recording a marginal decline in the monthly performance in October at 0.07%.

Trend of Gold Rate in Nagpur for September 2020 (rates per gram of 24 karat gold)

Trend of Monthly Gold Rate in Nagpur in September 2020:

• Gold rate in Nagpur opened the month of September at Rs.5,250 per gram on 1 September and was at its highest on the following day at Rs.5,276 per gram. However, the price of gold dipped throughout the month.
• As the value of the U.S. dollar recovered in the economy, the risk appetite amongst investors increased and the price of gold dipped. The gold rate was at its lowest on 29 September at Rs.4,926 per gram.
• At the end of the month, gold prices recovered marginally and closed at Rs.5,001 per gram on 31 September, recording an overall percentage decline of 4.74.

Trend of Gold Rate in Nagpur for August 2020 (rates per gram of 24 karat gold)

Trend of Monthly Gold Rate in Nagpur for August 2020:

• Gold rate in Nagpur opened at Rs.5,291 per gram on 1 August and showed a fluctuating trend throughout the week hitting the highest price of the month at Rs.5,541 per gram on 6 August and 8 August.
• However, with the value of the dollar recovering in the international market, the gold rate dipped and hit its lowest on 26 August and 28 August at Rs.5,136 per gram.
• At the end of the month, gold price in Nagpur closed at Rs.5,147 per gram with an overall monthly decline percentage of 2.72.

Trend of Gold Rate in Nagpur for July 2020 (rates per gram of 24 karat gold)

Trend of Monthly Gold Rate in Nagpur for July 2020:

• Gold rate in Nagpur opened the month at Rs.4,836 per gram on 1 July and showed an inclining trend for the month. Gold hit its lowest price of the month on 5 July at Rs.4,746 per gram.
• The metal’s price inclined throughout the month after hitting the monthly low due to the rising number of COVID-19 cases all over the world and the persisting geopolitical tensions between China and the U.S.
• At the end of July, the metal hit its monthly high at Rs.5,241 per gram on 30 July and dipped to close at Rs.5,211 per gram on 31 July.

Trend of Gold Rate in Nagpur for June 2020 (rates per gram of 24 karat gold)

Trend of Monthly Gold Rate in Nagpur for June 2020:

• Gold prices opened the month of June at Rs.4,702 per gram on 1 June and hit its lowest price of the month in the second week itself on 8 June at Rs.4,564 per gram. The yellow metal showed an inclining trend throughout the month.
• With a rise in the number of COVID-19 cases in the United States of America and India, the safe-haven demand of the metal increased to a great extent. Along with this, poor economic data from the United States of America and the United States Federal Reserve indicating slow economic growth boosted gold prices.
• At the end of the month, the metal closed at Rs.4,831 per gram on 30 June, soon after hitting its highest price of the month at Rs.4,841 per gram on 25 June. The metal recorded an overall incline of 2.74%.

Trend of Gold Rate in Nagpur for May 2020 (rates per gram of 24 karat gold)

Trend of Monthly Gold Rate in Nagpur for May 2020:

• In the city of Nashik, gold prices opened the month at Rs.4,641 per gram on 1 May and dipped marginally to Rs.4,626 per gram on 2 May. With investors shifting to the stock market with positive trend showcased in the Japanese equities market, the demand of the yellow metal dipped. The price of the metal was similar on 3 May at Rs.4,626 per gram and increased marginally on 4 May, to Rs.4,627 per gram. Investors shifted to the bullion market with the value of the dollar dipping in the market. The price of the precious metal on 5 May increased to Rs.4,631 per gram. However, on 6 May, investors shifted back to the equities market with higher risk appetite and the price of the metal dipped to below the Rs.4,600 per gram mark at Rs.4,551 per gram. The metal’s price fell further and closed the week at Rs.4,546 per gram on 7 May.
• In the second week of May, the price of the metal increased and opened at Rs.4,571 per gram on 8 May with investors shifting to the bullion market with increased safe-haven appeal due to a fall in the value of the dollar. The price of the metal on 9 May had dipped to Rs.4,541 per gram and increased marginally to Rs.4,542 per gram on 10 May. The continuous fluctuation in prices was due to investors focusing on the equities market and oil with the drop in oil prices. On 11 May, the price of the metal increased marginally to Rs.4,543 per gram. However, on 12 May, gold prices dipped to 4,534 per gram with investors shifting to the equities market on a stronger dollar. On 13 May, gold prices recovered with investors shifting to the bullion market amidst increased tensions between China and the United States of America and was priced at Rs.4,595 per gram, increasing to Rs.4,596 per gram on 14 May. At the end of the week, gold prices increased, crossing the Rs.4,600 per gram mark at Rs.4,621 per gram and closed the week on 15 May.
• Increasing to Rs.4,661 per gram on 16 May, gold opened the third week of the month with an incline of Rs.40 per gram compared to the previous week’s closing. On 17 May, the price of the metal increased to Rs.4,711 per gram, further increasing to Rs.4,712 per gram on 18 May. The rise in prices was due to investors shifting away from riskier assets as they awaited the decision from Washington on the security law being imposed on Hong Kong by China. On 19 May, the price of the metal increased further to Rs.4,751 per gram and further to Rs.4.757 per gram on 20 May. On 21 May, the price of the precious metal dipped to Rs.4,720 per gram with investors with a higher risk appetite shifting to the equities market expecting the economy to recover faster as countries relaxed most of their lockdown restrictions. On 22 May, gold prices increased marginally to Rs.4,725 per gram and closed the week with a marginal incline to Rs.4,726 per gram on 23 May.
• On 24 May, gold opened the last week of the month at Rs.4,727 per gram and remained steady at the same price on 25 May as well with investors awaiting Washington’s response to Beijing. On 26 May, the price of the metal dipped to Rs.4,696 per gram even though the international price of the metal tracked a positive note due to riots occurring in most states in the United States of America and trade tensions escalating. However, the price of the metal remained steady on 27 May at Rs.4,696 per gram and dipped further to Rs.4,686 per gram on 28 May. However, investors shifted back to the bullion market due to its safe-haven appeal and increased to Rs.4,693 per gram on 29 May and closed the week at Rs.4,699 per gram. The metal recorded an overall incline percentage for the month at 1.03.

Trend of Gold Rate in Nagpur for April 2020 (rates per gram of 24 karat gold)

Trend of Monthly Gold Rate in Nagpur for April 2020:

• In Nagpur, gold prices opened the month of April at Rs.4,158 per gram and showed heavy inclines at the end of the month. In the first week of the month, the price of the precious metal held steady for the first 5 days of the moment with the country on lockdown to prevent the spread of COVID-19 and major bullion trading centres shut. On 5 April, the price of the metal remained the same at Rs.4,158 per gram. However, on 6 April, gold trends showed an incline, increasing marginally to be priced at Rs.4,166 per gram and further increased to Rs.4,252 per gram on 7 April, closing the week at the same price. The rise in prices was majorly due to easing of the dollar value in the international market along with the safe-haven appeal of the metal increased to a great extent due to the constant rise in the number of new cases all over the world.
• Gold prices showed an inclining trend in the second week of the month as well. Opening at Rs.4,296 per gram on 8 April, the price of the metal showed gradual and steady inclines in the market. On 9 April, the price of gold marginally dipped to Rs.4,290 per gram but soon recovered and was priced at Rs.4,300 per gram on 10 April. With the release of the non-farm payroll data from the United States of America showing the increasing effect of COVID-19 on the economy, gold prices increased gradually throughout the second week of the month. On 11 April, increasing by Rs.30, gold was priced at Rs.4,338 per gram and increasing to Rs.4,339 per gram on 12 April. The yellow metal got another boost in its price on 13 April where the price increased to Rs.4,378 per gram and further to Rs.4,393 per gram on 14 April. The continuous rise in prices was due to the United States Federal Reserve announcing and releasing stimulus packages to stabilise the economy which boosted gold prices. However, a steady U.S. dollar value kept the inclining trend of the metal in check. On 15 April, gold prices closed the second week of the month at Rs.4,447 per gram.
• In the third week of April, the price of the metal fluctuated heavily due to constant factors affecting the markets, including equities and the bullion. Opening at Rs.4,458 per gram on 16 April, the price of gold increased marginally to Rs.4,479 per gram on 17 April. The minor rise in prices was due to the increased safe-haven demand for the metal due to the effect of COVID-19. However, on 18 April, gold recorded a dip in its prices at Rs.4,330 per gram, decreasing to Rs.4,321 per gram on 19 April. The constant, yet marginal dip its prices was major because of many countries hinting at easing the lockdown restrictions and possible reports of a vaccine to treat the virus resulted in the shift of focus from the bullion market to equities amidst a higher risk appetite. However, the sudden and massive hit on the crude oil market, crashing its prices, resulted in increased demand for the metal due to its safe-haven appeal. On 20 April, the price of the metal was Rs.4,322 per gram, dipping marginally to Rs.4,313 per gram on 21 April. At the end of the week, gold closed the third week of the month at Rs.4,311 per gram on 22 April.
• Gold prices showed heavy fluctuations in the last week of the month with a considerable rise throughout the week. Opening at an increased price of Rs.4,401 per gram on 23 April, the price of the metal had increased by almost Rs.100 in a day. With the central bank in Europe releasing stimulus packages along with the United States Federal Reserve reducing the repo rate to almost 0, gold prices shot up with these factors boosting them. On 24 April, a gram of gold was priced at Rs.4,472 per gram and increasing to Rs.4,551 per gram on 25 April and hitting the highest price of the week and the month, gold was priced at Rs.4,785 per gram on 27 April. However, soon after hitting its highest price of the month, gold prices took a hit and dipped to Rs.4,631 per gram on 28 April with speculations of reopening the economy turned investors away from the bullion to the equities. At the end of the month, the price of the metal was Rs.4,635 per gram with an overall percentage incline of 11.47.

Trend of Gold Rate in Nagpur for March 2020 (rates per gram for 24 karat gold)

Gold Rate Trend in Nagpur for March 2020:

• Gold rates opened the month of March at Rs.4,263 per gram and increased marginally in the first week of the month. This was majorly due to investors awaiting the rate cut by the United States Federal Reserve to help mitigate the losses in the economy due to the pandemic, COVID-19. The metal’s price increased to Rs.4,305 per gram on 3 March and saw a further incline to be priced at Rs.4,452 per gram on 5 March and 6 March. On the last day of the week, the yellow metal’s price increased to touch its highest for the month at Rs.4,531 per gram on 7 March. The constant rise in prices was majorly due to the effect of Coronavirus on the economy and investors shifting to the bullion market for its safe-haven appeal.
• The second week of the month saw gold prices recording an overall weekly decline. With major countries being affected by the virus and several parts of the world going into lockdown, the price of the metal dipped. On 8 March, gold was priced at Rs.4,531 per gram, decreasing to Rs.4,494 per gram on 10 March. The metal’s prices kept falling due to the rise in the value of the dollar in the market. By the end of the week, the price of gold had fallen by Rs.278, priced at Rs.4,253 per gram on 13 March.
• Gold suffered heavily in the third week of the month with the number of Coronavirus cases and deaths increasing all over the world. With countries heading into lockdown, trade was off along with traders hoarding for cash by selling their assets. The price of the metal at the beginning of the week was Rs.4,253 per gram on 16 March and hit its lowest price of the month on 18 March, priced at Rs.4,116 per gram. The price of the precious metal recovered marginally at Rs.4,190 per gram on 19 March with investors shifting to the bullion temporarily due to its safe-haven appeal. The metal’s price hit Rs.4,158 per gram on 20 March and remained the same throughout the week with major bullion trading centres closed in the country with India going into a 21-day lockdown.
• In the last week of March, with almost every country in the world being under lockdown, trading and physical buying have been minimal, if not at all. The metal’s price on 21 March was Rs.4,150 per gram and with no activity in trade, gold prices showed steady prices until the end of the month. At the end of the week and month, gold prices closed at Rs.4,150 per gram recording an overall monthly decline of 2.46.

Trend of Gold Rate in Nagpur for February 2020 (rates per gram for 24 karat gold)

Gold Rate Trend in Nagpur for February 2020:

• Gold prices in Nagpur showed an inclining trend throughout the month of February. The price of the metal on 1 February was Rs.4,179 per gram and showed a declining trend in the first 10 days of the month. This was due to the Chinese Central Bank liquidating funds to support their economy which boosted risk appetite amongst investors. By 10 February, the price of the metal was Rs.4,174 per gram.
• The second week of the month showed no rise in prices of the precious metal. Hovering around the Rs.4,150 per gram range, gold prices showed a constant trend of decline. The price of gold dipped to Rs.4,163 per gram on 11 February and further down to Rs.4,150 per gram on 13 February. The decline in prices was majorly due to a strong dollar value in the market along with a lower number of new cases all around the world during that week.
• After increasing to Rs.4,174 per gram on 15 February, gold prices remained steady with the value of the U.S. dollar almost hit its 5-month high on 17 February. The monetary policy of the Central Bank in China also halted the rise in prices of the metal. Investors shifted to the stock market with increased risk appetite. However, on 19 February, the price of the metal increased with the number of new cases of Coronavirus inclining in other countries as well. On 20 February, the price of the metal had increased to Rs.4,211 per gram.
• At the end of the month, the price of the yellow metal had shown an inclining trend from Rs.4,211 per gram on 20 February, gold prices had increased to Rs.4,358 per gram on 24 February and hitting the monthly high at Rs.4,410 per gram on 25 February. With increasing tensions around the Coronavirus and its effect on the global economy, dependency on the bullion market increased. Gold ended February at Rs.4,358 per gram on 29 February with a percentage incline of 4.28.

Trend of Gold Rate in Nagpur for January 2020 (rates per gram for 24 karat gold)

Gold Rate Trend in Nagpur for January 2020:

• Gold prices in Nagpur fluctuated in the month of January amidst political and geopolitical tensions. Opening the month at Rs.3,985 per gram, the metal saw and hit the highest price of the month at Rs.4,216 per gram on 9 January. This was majorly due to the escalating tensions in the Middle East between Yemen and the United States of America. The impeachment proceedings of President Trump also contributed to the metal’s rise in prices.
• However, the second week of the month saw a gradual decline in gold prices in the city. As the Phase-1 interim trade deal was signed between China and the United States of America, investors shifted back to the stock market based on a stronger dollar. Onn 15 January, the price of the metal was Rs.4,074 per gram.
• On 20 January, the price of gold dipped marginally to Rs.4,064 per gram. As the outbreak of the Coronavirus broke out, traders shifted to the bullion market for their investments due to its safe-haven appeal. The metal crossed the Rs.4,100 per gram mark on 22 January.
• Amidst the fears of the virus, investors awaited developments on the rate cuts by the United States Federal Reserve. Along with positive manufacturing data from China, gold prices were holding steady. However, as the WHO declared a World Health Emergency, fears of the virus increased, increasing the price of the metal to Rs.4,179 per gram on 31 January.

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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.