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Gold price in Nashik
Nashik is situated in the north-eastern part of Maharashtra. It is at the foothill of the Western Ghats and on the banks of Godavari River. It attracts a huge religious crowd as there are famous temples and churches and people flock to the area during the festival times.
Nashik is also called as the ‘Wine Capital of India’ and it houses 22 wineries. There are various wine festivals being held during the harvest season. The economy is good and the heavy tourist and pilgrims ensure that there is a good demand for gold in Nashik.
Gold Rate Trend in Nashik for October 2016 to December 2016 (per gram of 24 karat gold)
|1st day||Rs.3,249 per gram||Rs.3,168 per gram||Rs.2,938 per gram|
|Last day||Rs.3,168 per gram||Rs.2,975 per gram||Rs.2,884 per gram|
|Highest price||Rs.3,249 per gram on 1st & 2nd October||Rs.3,247 per gram on 11th & 12th November||Rs.2,938 per gram from 1st-7th December|
|Lowest price||Rs.3,133 per gram from 14th-19th October||Rs.2,949 per gram from 25th-27th November||Rs.2,810 per gram from 22nd-26th December|
Gold Rate Trend for Nashik in October 2016
- Gold price in Nashik started on a high with the beginning of the month trading at Rs.3,249 per gram.
- But as demand fell owing to the lack of requirement from global and domestic buyers, gold trading went down to Rs.3,135 per gram as business ended on 10th October.
- Although gold rates recovered a little bit, thanks to marketing conditions, prices fell soon after as demand dipped.
- October ended with gold trading at Rs.3,168 per gram on the 31st October.
- Overall a fall of 2.49% was seen for the month of October.
Gold Rate Trend for Nashik in November 2016
- Gold was seen trading at at Rs.3,168 per gram when November began and climbed further as Donald Trump surprised the world by winning the US elections against Hillary Clinton.
- Demonetisation of Rs.500 and Rs.1,000 notes also played a part in bringing the markets down, which increased the demand yet again for gold to trade at Rs.3,247 per gram on 12th November.
- The sudden surge couldn't be capitalised upon as India faced a cash crunch and also brought in stricter measures to facilitate gold purchase.
- This was the month when submission of PAN card was made mandatory for Rs.2 lakh and more worth of gold purchases.
- When November ended, gold was seen trading at Rs.2,975 per gram.
- All in all, the month of November witnessed gold prices take a massive tumble of -6.09% owing to a number of factors.
Gold Rate Trend for Nashik in December 2016
- The beginning of December wasn’t any better for gold as prices still continued on its free falling trajectory.
- Gold was seen trading at Rs.2,938 per gram on 1st and maintained at the same rate for much of the week.
- The onset of Christmas didn’t seem to increase demands as people decided to spend on festivities rather than on jewellery.
- However, prices seemed to gain at a positive rate from the 27th owing to increased demand as New Year approached.
- At the end of the month and year, gold was trading at Rs..2,884 per gram.
- Of all the months in Q4, December played host to the lowest change in gold rates at -1.83%.
|1st day||Rs.3,112 per gram||Rs.3,249 per gram||Rs.3,212 per gram|
|Last day||Rs.3,249 per gram||Rs.3,225 per gram||Rs.3,279 per gram|
|Highest price||Rs.3,249 per gram on 31st July||Rs.3,283 per gram on 18th August||Rs.3,285 from 23rd September to 26th September|
|Lowest price||Rs.3,112 per gram on 1st July||Rs.3,225 per gram on 31st August||Rs.3,212 on 1st September|
Gold Rate Trend of Nashik in July 2016
- The trend for this month was an incline in gold prices owing to positive trends in the global market.
- Gold traded at Rs.3,112 per gram on 1st July. This was the lowest price for the month and the quarter as well.
- Prices soon started to climb as demand for the metal picked up after the dust settled from the Brexit vote.
- The highest price for this month was recorded on 31st July at Rs.3,249 per gram.
Gold Rate Trend of Nashik in August 2016
- With demand soaring at the start of the month, gold traded high at Rs.3,249 per gram on 1st August.
- The festive season demand gave support to gold prices in the domestic market.
- By 18th August, gold rates had reached their highest for the month, trading at Rs.3,283 per gram.
- It wasn’t too long before the prospects of an interest rate hike sprouted again which drove demand for gold down.
- Gold traded at its lowest for this month on 31st August at Rs.3,225 per gram.
- Gold prices had fallen by 0.74% at the end of the month.
Gold Rate Trend of Nashik in September 2016
- A rising dollar, strong U.S. economic data and the prospect of a Fed rate hike kept gold prices down at the start of the month.
- On 1st September, gold traded at Rs.3,212 per gram.
- The Federal Reserve put off the interest rate hike till December as the presidential elections were too close.
- Investors were back in the market as gold regained its safe-haven appeal.
- By 23rd September, gold rates had reached their highest for the month, trading at Rs.3,285 till 26th September.
- There was an increase of 2.08% in gold prices by the end of the month.
|1st day||Rs. 2,989 per gram||Rs. 3,154 per gram||Rs.3,038 per gram|
|Last day||Rs. 3,154 per gram||Rs. 3,018 per gram||Rs.3,112 per gram|
|Highest price||Rs. 3,154 per gram 30th of April||Rs. 3,155 per gram from the 7th to the 11th of May||Rs.3,123 per gram from 11th-19th June|
|Lowest price||Rs. 2,989 per gram from the 1st of April to the 11th||Rs. 3,003 per gram on the 30th and 31st of May||Rs.3,015 per gram on 3rd June|
|Trend||Increase||Decrease||Increase in price|
Gold Rate Trend of Nashik in April 2016
- Gold traded at low rates at the start of April owing to the Jeweller’s strike that took place across the country.
- Prices remained constant till April 11th, after which there was a steady increase.
- Once the strike was called off, the market was back on track and gold rates experienced a 5.52% hike by the end of the month.
Gold Rate Trend of Nashik in May 2016
- Gold rates in May started steady at Rs. 3,154.
- The Federal Reserve minutes that were released led to expectations of a hike in interest rates.
- High borrowing costs don’t bode well for assets like gold, which led to a fall in the rates.
- The month ended with a 4.31% decrease closing at Rs. 3,003.
Gold Rate Trend of Nashik in June 2016
- The price of gold was more or less constant in Nashik, with the price dipping slightly as the month ended.
- The price was steady towards the middle of the month as demand was stable due to a strong Dollar and the financial markets performing well.
- The British referendum led to some slight market turmoil, but gold prices started to slide.
- Prices slipped but rose as the referendum vote results indicated Britain had voted to leave the European Union.
- Prices closed at Rs.3,038 per gram.
|1st day||Rs. 2,601 per gram||Rs. 2,775 per gram||Rs. 3,068 per gram|
|Last day||Rs. 2,775 per gram||Rs. 3,068 per gram||Rs. 2,989 per gram|
|Highest price||Rs. 2,789 per gram on January 27th and 28th.||Rs. 3068 per gram on February 27th, 28th and 29th.||Rs. 3,093 per gram from March 12th to 17th.|
|Lowest price||Rs. 2,601 per gram from January 1st to 3rd.||Rs. 2,755 per gram on February 1st and 2d.||Rs. 2,989 per gram from March 22nd to 31st.|
Gold Rate Trend of Nashik in January 2016
- Gold rates traded with a stable trend in January, opening at Rs. 2,601 per gram.
- Demand for gold was on the rise which pushed gold rates up through the month, with a few fluctuations.
- The prices inclined at the end of the month climbing to Rs. 2,789 per gram on 27th and 28th.
Gold Rate Trend of Nashik in February 2016
- On February 1st, gold traded Rs. 2,775 per gram continuing the trend from January.
- There were no major changes in demand to affect prices and the rates maintained a steady path.
- Prices inclined to Rs. 3,068 per gram by the end of the month, leaving the precious metal at a 10.55% increase this month.
Gold Rate Trend of Nashik in March 2016
- Gold opened at Rs. 3,068 in March.
- The month experienced steady rates with a slight inclination in the beginning.
- A few drops were seen through the month but overall, rates gained stability.
- A nationwide Jewellers’ strike led to prices being more constant than dynamic.
- By 22nd March, prices were at Rs. 2,989 and remained unchanged till the end.
Gold Rate in Nashik
Gold’s purity determines the gold rate in Nashik. Potential buyer can buy either 24 karat, 22 karat, 18 karat or 14 karat gold. 24 karat gold is most expensive and 14 karat is cheap. Gold rate in Nashik changes according to the international gold market. The gold prices picked up in January, 2016 after the significant fall in 2015.
24 karat gold:
24 karat gold is the purest form of gold it includes 99.95% gold mass. It is a very soft metal hence it cannot be used to make jewellery or other ornaments. The gold rate for 24 karat gold in Nashik is Rs.29,760 per 10 grams as on 11th March, 2016.
22 karat gold:
22 karat gold includes 91.6% gold mass and it is the highest quality gold. It is used to make jewellery and ornaments as it has a shiny yellow coat. The brightness of the 22 karat gold depends on the metal it is alloyed with. 22 karat gold is usually alloyed with silver or copper. You get a reddish tint when gold is mixed with copper. When zinc is added to copper it neutralises the rose color and makes it look yellow.
The best quality is when the 22 karat gold is alloyed with silver. This is the most common form of retail gold jewellery. It is however worn off easily so special care has to be taken. The gold rate for 22 karat gold in Nashik is Rs.27,820 per 10 grams as on 11th March, 2016.
18 karat gold:
18 karat gold includes 75% of the gold mass and is the popular karat for jewellery. It provides enough strength to hold the gemstones, diamonds and emeralds in place. Pink and rose gold are also 18 karat gold.
14 karat gold:
14 karat gold includes 58.3% gold mass and it is also the cheapest type of gold jewellery. You get a dull bronze color when alloyed with copper. You get white gold when you alloy 14 karat gold with silver or nickel.
Gold investment avenues in Nashik
People in India love buying gold either as a jewellery or to invest. Gold sales are usually higher during the festivals and wedding season. Since gold is treated as a safe haven asset, investors also prefer to buy gold to protect themselves from the market fluctuations. Gold can be brought in Nashik in the following ways:
Gold can be purchased from anywhere as now you have access to E-gold, futures and ETFs. E-gold trade is done through National Spot Exchange. ETFs are traded on Bombay Stock Exchange. Trading in gold is subject to risk which you must be aware of before you start trading.
Over the counter purchases:
When people buy gold they always prefer to look at the jewellery and try it on before actually buying it. There are a various jewellers in Nashik from where people can buy gold. It can also be brought in the form of gold coins and bars from the bank as well as the jewellers. You must know that when you buy gold from the bank it is costlier as you get a purity certificate.
- Also Check: Gold Rate in Maharashtra
Also Check Gold Price in NearBy Cities of Nashik
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