Gold Price in Rajkot today - 22 May
last updated on 22 May 2022
Rajkot is one of India's most advanced industrial hubs and the fourth largest city of Gujarat. Since its establishment, it has been one of Gujarat's most advanced industrial, political, educational, commercial, and cultural hubs. Being a multicultural city, Rajkot has a great affection for gold ornaments, and people from diverse backgrounds need them for different occasional purposes. Apart from it, citizens here consider gold as a valuable asset.
Gold Prices in Rajkot for different purity
|Purity||Gold price 1 gram||Gold price 10 gram|
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Gold Prices in Rajkot for 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 Rajkot
The gold rate in Rajkot and anywhere in India depends on its purity. Generally, three primary types of gold are available based on purity, namely, 18 karats, 22 Karats and 24 Karats. Among those, the 18 Karat variant has nominal purity, while the 24 karat variant has the highest purity.
Rate of Gold over Last Week in Rajkot
Weekly and Monthly Graph of Gold Price in Rajkot
Reasons to Check the Gold Rate in Rajkot before Buying
The price of gold in Rajkot is dynamic and changes quickly. Hence it is essential to keep an eye on these fluctuations as this will help individuals analyse loan schemes. Also, by tracking these prices, individuals can analyse the amount of gold they need to lend themselves a certain amount of funds.
What Factors Affect Gold Price in Rajkot?
Factors affecting gold prices in Rajkot are –
- Currency Fluctuations – In the global market, gold is traded using USD. So, any fluctuations in USD – INR can affect these prices in the domestic market.
- Government Reserves – The Government of India has its gold reserves. Depending on various policies, they hold or sell gold through the RBI. So, prices can get significantly affected by the buying and selling of the government.
- Inflation – As the value of currency decreases during inflation, most investors value gold as its value remains static during inflation. Hence, gold prices get significantly affected as the demand for gold varies with the market’s inflation.
- Demand and Supply – During the wedding and festival season in Rajkot, the demand for gold increases significantly, thus increasing its price. Whereas during other times, prices remain more or less stable.
Methods to Calculate Gold Price in Rajkot
To calculate the gold price in Rajkot, citizens can use two methods –
- Karat Purity Method: Gold value = (Gold’s purity x weight x gold rate) / 100
- Purity Percentage Method: Gold value = (Gold’s purity x weight x gold rate) / 24 After getting these values, individuals can use them in the Rupeek gold loan calculator. Deducting the loan amount and amount of gold in Rajkot demands two simple steps each. Details about these steps are provided below –
- How to Deduce the Loan Amount Using the Rupeek Gold Loan Calculator? Steps to follow for deducing the loan amount is –
- Step 1: Select 'Choose available Gold Weight' and enter net weight in grams and purity in Karats
- Step 2: Finally, enter the desired interest rate and tenure to get the value.
- How to Know the Amount of Gold Ornaments Using the Rupeek Gold Loan Calculator?
- Step 1: Click on the ‘Choose Required Loan Amount’.
- Step 2: Enter the required loan amount, tenure, and interest rate.
Why Does the Gold Price in Rajkot Vary from That in Other Indian Cities?
Gold price varies across different cities in India; the reason behind this are jewellery making charges, tax variations and Transportation costs.