Gold Price in Pune today - 28 May
last updated on 28 May 2022
India
People worldwide consider gold a benchmark of authenticity, prosperity, and wealth. It has a special value in various cities of India, including Pune. Gold's value increases over time despite relatively high demand. This demand also ensures high liquidity in times of need. These factors make gold an excellent asset both as an investment and during financial crises.
However, market rates of this precious metal fluctuate frequently. Therefore, it is essential to know the current prices before buying or collateralising.
Gold Prices in Pune for different purity
| Purity | Gold price 1 gram | Gold price 10 gram |
|---|
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Gold Prices in Pune for 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 :
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Gold Rates in Pune for Different Purities
Gold is not fit for jewellery making in its pure form since it is somewhat soft. Therefore, it is alloyed with other metals to make it hard. The proportion of gold used in a piece decides its purity and value. This purity is measured in Karats.
Gold is commonly available for purchase in three levels of purity: 24 Karats, 22 Karats, and 18 Karats. These forms have successively descending costs. Therefore, you should know the value of all three before purchasing.
Gold Prices in Pune in the Last Week
Pune is a historical city that is one of the largest in India. It has been ranked among the world's most liveable cities multiple times. It is also a prominent educational, industrial, financial, and tourism hub of India. These factors ensure a consistently increasing value of gold here. Market rates of gold in Pune over the last seven days have been listed in the given table.
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Monthly and Weekly Trends of Gold Rate in Pune
The value, as well as demand for gold in this city, has been increasing steadily. Moreover, several finance experts have projected this trend to continue in future. However, prices also fluctuate frequently. Therefore, you should be aware of the prevailing values before buying or pledging your jewellery. To help you decide, here is a graphical representation of gold price trends over the past week and month.
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Importance of Checking Gold Rates in Pune before Buying
Factors Affecting Gold Rates in Pune
Several domestic and international factors affect gold prices in Pune. If you are aware of them, you may be able to make a price prediction before your decision. These factors include:
- Market demand
- Localised buying trends
- Prevailing tax laws
- Interest rates
- Government reserves
- Comparative currency value
- Inflation
Calculating Gold Price in Pune
You can use either of two methods to calculate your gold’s value:
- For purity given in percentage: Value = (purity x weight x rate) / 24
- For purity given in karats: Value = (purity x weight x rate) / 100
Use these formulae to find the value of your gold on the Rupeek Gold Loan Calculator.
- To know gold required for loan
Step 1: Click on the 'Choose required Loan Amount' tab on the gold loan calculator.
Step 2: Enter loan amount required, interest rate, and loan tenure using sliders.
The gold loan calculator displays your monthly interest, total interest, and amount of gold required for your loan.
- To know the eligible loan amount
Step 1: Go to the gold loan calculator and click the 'Choose Available Gold Weight' tab.
Step 2: Use the sliders provided to enter your gold amount, purity, interest rate, and tenure.
The gold loan calculator will display your total and monthly interests along with your eligible loan amount.
Reasons Why Gold Rates Differ between Pune and Other Cities
Market rates of gold in Pune will differ from those in other cities. This variation is quite common and happens due to:
- Market demand
- Making charges on jewellery
- Storage and transportation costs
- Taxes
- Localised buying trends
Therefore, you must know the prevailing prices of this precious metal in Pune and other cities. Then, decide on a suitable time and lender by comparing rates across cities to get optimum returns out of your investment.