Gold Price in Nellore today - 28 May
last updated on 28 May 2022
Gold is an integral part of every auspicious event of Nellore. However, like other cities in India, the gold price in Nellore changes with the change in global and domestic markets. Hence, buyers and borrowers must follow the price of this metal frequently so that they don’t incur a loss while purchasing a piece of gold jewellery or borrowing a gold-backed loan.
Gold Prices in Nellore for different purity
|Purity||Gold price 1 gram||Gold price 10 gram|
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Gold Prices in Nellore for the last 7 days
|Date||Gold price 1 gram||Gold price 10 gram|
|26 May, 2022||₹ 5,400||₹ 54,000|
|25 May, 2022||₹ 6,000||₹ 60,000|
|24 May, 2022||₹ 6,500||₹ 65,000|
|23 May, 2022||₹ 7,000||₹ 70,000|
|22 May, 2022||₹ 7,500||₹ 75,000|
|21 May, 2022||₹ 6,500||₹ 65,000|
|20 May, 2022||₹ 7,500||₹ 75,000|
Gold Value :₹ 0
Gold Rates in Nellore for Different Purities (Comparison Table for 18, 22, and 24 Karats)
A karat system determines the purity of gold. It is categorised into 18, 22 and 24 karats.
24 karat contains 99.9% gold and is the most expensive on this list. On the other hand, 22 karat has 91.7% gold and is less costly than 24 karat. Finally, 18 karat comprises 75.0% gold and is the least expensive. Besides, lenders usually accept a gold ornament with a minimum purity of 18 karat for sanctioning a loan against it.
Check current rates of gold for different purities in Nellore on this page. These rates are updated daily.
Gold Price in Nellore for the Last 7 Days
The price of yellow metal keeps changing in Nellore due to transportation costs, changes in demand, import duties etc. This makes the metal’s price volatile. The table below summarises how the gold price has fluctuated over the last 7 days in Nellore.
Weekly and Monthly Graph of Gold Rate in Nellore
In the past few months, the price of yellow metal has been on an inflationary trend. This inflationary rise of this metal’s price is expected to continue in future, given its demand as a reliable investment choice. Take a look at this graph representing gold rate trends in Nellore over the last few weeks and months.\
Reason for Checking Gold Rate in Nellore
The gold price in Nellore today is much different from what it was in previous years. Hence, the value of this yellow metal is dynamic, making it mandatory for residents, especially borrowers, to check the current rates on this page. This will streamline their effort in selecting the best loan offer in the lending market.
Factors Influencing Gold Prices in Nellore
Several factors that affect the price of yellow metal in Nellore are listed below:
- Interest rate trends
- Global change in gold prices
- Government’s gold reserves
- Market demand
- Supply of the metal
- The exchange rate between Indian rupees and US dollars
- Geopolitical situations
- Import duty
Ways to Calculate Gold Price in Nellore
Individuals can calculate the value of the yellow metal in Nellore with the help of the following methods:
Percentage Purity 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
Individuals can use the above value to obtain the required results from our gold loan calculator.
To Check Gold Required to Get a Loan
Step 1: Click on ‘Choose required Loan Amount’.
Step 2: Provide required loan amount, tenure and interest rate.
After completing all these steps, this online calculator will display the gold required, total and monthly interest payables.
To Check the Loan Amount
Step 1: Select ‘Choose available Gold Weight’.
Step 2: Enter the weight and purity of gold, interest rate and tenure.
Finally, users can see the loan amount they are eligible to get, total and monthly interest payments.
Reasons for Different Gold Rates Between Nellore and Other Cities in India
Varying making charges on gold ornaments, transportation costs, taxes on purchasing gold in Nellore makes the price of this valuable metal different from that in other cities.