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Check out today's gold rate in Nagpur. Compare 22-carat and 24-carat gold prices per gram in Nagpur & get the best value for your money.
Updated on : 23 Dec 2024
22-carat gold Rate
₹ 7,100
(Per Gram)
24-carat gold Rate
₹ 7,745
(Per Gram)
Carat | Gold Rate Yesterday | Gold Rate Today | Price Change |
---|---|---|---|
22 Carat | ₹ 7,100 | ₹ 7,100 | ₹ 0 |
24 Carat | ₹ 7,745 | ₹ 7,745 | ₹ 0 |
Gram | 24 Carat Gold Price Yesterday | 24 Carat Gold Price Today | Price Change |
---|---|---|---|
1 GRAM | ₹ 7,745 | ₹ 7,745 | ₹ 0 |
8 GRAM | ₹ 61,960 | ₹ 61,960 | ₹ 0 |
10 GRAM | ₹ 77,450 | ₹ 77,450 | ₹ 0 |
100 GRAM | ₹ 7,74,500 | ₹ 7,74,500 | ₹ 0 |
Gram | 916 KDM Gold Rate Yesterday | 916 KDM Gold Rate Today | Price Change |
---|---|---|---|
1 GRAM | ₹ 7,100 | ₹ 7,100 | ₹ 0 |
8 GRAM | ₹ 56,800 | ₹ 56,800 | ₹ 0 |
10 GRAM | ₹ 71,000 | ₹ 71,000 | ₹ 0 |
100 GRAM | ₹ 7,10,000 | ₹ 7,10,000 | ₹ 0 |
Gram | 22 Carat Gold Price Yesterday | 22 Carat Gold Price Today | Price Change |
---|---|---|---|
1 GRAM | ₹ 7,100 | ₹ 7,100 | ₹ 0 |
8 GRAM | ₹ 56,800 | ₹ 56,800 | ₹ 0 |
10 GRAM | ₹ 71,000 | ₹ 71,000 | ₹ 0 |
100 GRAM | ₹ 7,10,000 | ₹ 7,10,000 | ₹ 0 |
Date | Pure Gold - 24 K | Standard Gold - 22 K |
---|---|---|
Dec 22, 2024 | Rs. 7,100 (0) | Rs. 7,745 (0) |
Dec 21, 2024 | Rs. 7,100 (60) | Rs. 7,745 (65) |
Dec 20, 2024 | Rs. 7,040 (-30) | Rs. 7,680 (-33) |
Dec 19, 2024 | Rs. 7,070 (-65) | Rs. 7,713 (-71) |
Dec 18, 2024 | Rs. 7,135 (-15) | Rs. 7,784 (-16) |
Dec 17, 2024 | Rs. 7,150 (10) | Rs. 7,800 (11) |
Dec 16, 2024 | Rs. 7,140 (0) | Rs. 7,789 (0) |
Dec 15, 2024 | Rs. 7,140 (0) | Rs. 7,789 (0) |
Dec 14, 2024 | Rs. 7,140 (-90) | Rs. 7,140 (-90) |
Gold Rates | 22 Carat | 24 Carat |
---|---|---|
1 st December rate | Rs. 7,150 | Rs. 7,800 |
23th December rate | Rs. 7,100 | Rs. 7,745 |
Highest rate in December | Rs. 7,285 on December 11 | Rs. 7,947 on December 11 |
Lowest rate in December | Rs. 7,040 on December 20 | Rs. 7,680 on December 20 |
Over all performance | Falling | Falling |
% Change | -0.70% | -0.71% |
Gold Rates | 22 Carat | 24 Carat |
---|---|---|
1 st November rate | Rs. 7,385 | Rs. 8,056 |
30th November rate | Rs. 7,150 | Rs. 7,800 |
Highest rate in November | Rs. 7,385 on November 1 | Rs. 8,056 on November 1 |
Lowest rate in November | Rs. 6,935 on November 14 | Rs. 7,565 on November 14 |
Over all performance | Falling | Falling |
% Change | -3.18% | -3.18% |
Gold Rates | 22 Carat | 24 Carat |
---|---|---|
1 st October rate | Rs. 7,050 | Rs.7,691 |
31st October rate | Rs. 7,455 | Rs.8,133 |
Highest rate in October | Rs. 7,455 on October 31 | Rs. 8,133 on October 31 |
Lowest rate in October | Rs. 7,025 on October 10 | Rs. 7,664 on October 10 |
Over all performance | Rising | Rising |
% Change | +5.74% | +5.75% |
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.
The purity of gold is measured in karats, whereas the weight of gold is measured in troy ounces (1 troy ounce = 31.1034768 grams).
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?
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.
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.
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.