Gold Price in Nagpur today - 22 May
last updated on 22 May 2022
Nagpur, also known as the ‘Orange city’, is the third-largest city in Maharashtra. Besides this, Nagpur is one of the fastest-growing metropolia in the state. This city is well connected with different parts of India and has been a centre of political and cultural importance for ages. Its rich history has also witnessed Nagpur’s love for gold.
The high value of this metal has been noted by its citizens and has now become an essential asset of every household. Moreover, people all over Maharashtra value gold as an excellent investment option due to its high monetary value while pledging it to lenders.
Gold Prices in Nagpur for different purity
|Purity||Gold price 1 gram||Gold price 10 gram|
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Gold Prices in Nagpur for the last 7 days
|Date||Gold price 1 gram||Gold price 10 gram|
|20 May, 2022||₹ 5,400||₹ 54,000|
|19 May, 2022||₹ 6,000||₹ 60,000|
|18 May, 2022||₹ 6,500||₹ 65,000|
|17 May, 2022||₹ 7,000||₹ 70,000|
|16 May, 2022||₹ 7,500||₹ 75,000|
|15 May, 2022||₹ 6,500||₹ 65,000|
|14 May, 2022||₹ 7,500||₹ 75,000|
Gold Value :₹ 0
Comparison Table for 18, 22, and 24 Karat Gold in Nagpur
Gold Rate in Nagpur over Last 7 Days
Rates of gold in Nagpur have projected upwards over the last week. The demand for gold in Nagpur is always high due to its monetary value, auspiciousness and ritual of gifting. Also, experts believe that these prices will increase in the future as well. Individuals can get an insight into gold prices for the last week from the table below.
Weekly and Monthly Graph of Gold Rate in Nagpur
Individuals can better derive recent trends concerning prices in Nagpur from a visual representation. Hence, they can check this graphical portrayal of fluctuations in a weekly and monthly period of gold prices in Nagpur.
Why Must Individuals Check Gold Rates in Nagpur before Buying?
The reasons to know the price in Nagpur before buying are –
- It helps you understand how much gold you can buy.
- These prices assist in deducing the loan amount individuals can avail.
- Lastly, you can also get an idea about the gold loan interest rates.
Factors Affecting Gold Prices in Nagpur
A few factors that affect gold prices in Nagpur are –
- Changes in the tax regime
- Currency fluctuations
- Rate of interest
- Government reserves
- Market inflation
Procedure to Calculate Gold Price in Nagpur
Individuals can deduce gold price in two ways –
- Purity Percentage Method
Gold value = (Gold’s purity x weight x gold rate) / 24
- Karat Purity Method
Gold value = (Gold’s purity x weight x gold rate) / 100
After deducing these values, individuals can input those in the Rupeek gold loan calculator to get the loan amount and the amount of gold.
The steps involved for these purposes are provided below –
- To Get the Required Loan Amount
Steps to get information on loan amount are –
Step 1: Click on ‘Choose available Gold Weight’ option from the Rupeek gold loan calculator.
Step 2: Secondly, enter values of gold purity in Karats and its weight in grams.
Step 3: Finally, provide the desired rate of interest and tenure.
- To Get the Gold Amount
Steps to get information about gold required are –
Step 1: Click on the ‘Choose required Loan Amount’ from the Rupeek gold loan calculator
Step 2: Then, provide the loan amount, and choose tenure and interest rate.
Reasons behind Gold Price Variation in Nagpur from Other Indian Cities
Factors responsible for price variation in Nagpur from other Indian cities are –
- Ornament making charges
- Transportation cost
- Tax variation
- Import duty
- Demand and supply