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Gold Rate in Nashik

Located in the Indian state of Maharashtra, Nashik is an ancient city. It is also a tourist hub considering the numerous vineyards across the city (half of India’s vineyards and wineries are located in Nashik). Other attractions include temples, churches and various pilgrimage sites.

People invest in Gold for many reasons such as investment, ritual, gifting, jewellery, wedding, security against inflation, high resale value, festivities, etc. Gold rates in Nashik are significantly higher during special occasions such as Diwali, Dussehra, Dhanteras, Akshaya Tritiya, etc.

Factors affecting Gold Rate in Nashik

Since Gold is valued all over the world, factors affecting the rate of Gold in Nashik stem internationally. Gold is traded in the international markets, which are influenced by a lot of factors, right from interest rates to the movement of dollar to interest rates. The correlation of Gold and USD is just the opposite- when one of them falls, the other gains and vice versa. This is a major factor which impacts the rate of Gold in Nashik. Additional factors which influence the rate of Gold in Nashik include:

  • Central Bank Actions
  • Government Policies
  • Demand and Supply
  • Investment Trends
  • Currency Changes
  • International Relations
  • Import and Customs Duty
  • Macroeconomic and Political issues

How to invest in Gold in Nashik?

Gold is available in two forms - 22 or 24 Karat. This determines the purity of the metal. 22 Karat implies that the purity is 92%, while 24 Karat Gold comes with 99.9% purity. There are several ways to buy Gold in Nashik, depending on the amount needed.

  • Jewellery - Gold is the most sought after option for making jewellery in India. It is an asset given to children over generations during weddings.
  • Banks - Banks across India sell/buy Gold in all forms. Also, there are dedicated Banks and NBFCs which offer Gold loans.
  • Bullion - For large traders and retailers, Gold, in the form of bullion, is an excellent option. Bullion comes in the form of coins, bars and ingots. It usually weighs between 1 gram and 10 grams.
  • ETFs - Gold Exchange Traded Funds are open-funds which are traded in the stock market. You can invest any amount of money anytime (either as a lump sum or SIP).
  • Digital Gold - This is the latest type to enter the market. It allows people to invest in Gold at live market prices. A person can trade 24 Karat Gold for an amount as low as Rs. 100. People who want to cash out can either sell their digital gold online or convert them into gold coins.
  • Sovereign Gold Bonds - These are government bonds launched in the year 2015. The underlying asset is physical gold which is issued in grams. The price of these bonds is decided on the basis of simple average of the closing rate of 999 pure gold published by the India Bullion and Jewellers Association Limited.

Things to Remember Before Purchasing Gold in Nashik

You should look into the following factors before purchasing Gold in Nashik:

Purity Certification - Ensure that the Gold article is BIS certified. A BIS certified gold jewellery includes BIS logo, Purity/fineness Mark, Assaying and Hallmarking Centre’s Mark, Year of Marking and Jewellers Identification Mark.

Making Charges - This is the cost of molding a Gold article as per the desired design. These expenses are also dependent on factors such as the design of the gold jewellery, gold jewellery brand or jeweller from which you are purchasing gold, etc. It can range from 8% to 25%.

Weight - The price of Gold is directly proportional to its weight. If a Gold article has precious gems and stones, the weight as well as price of Gold will increase.

Invoice - Always purchase Gold with a physical invoice. It will help at the time of exchanging your gold jewellery.

6 Months Gold Rate in Nashik

Trend of Gold Rate in Nashik for August 2019 (rates per kg)

Gold Rates22 Carat24 Carat
1st August rateRs.33,800Rs.34,800
31st August rateRs.37,650Rs.38,650
Highest rateRs.37,950 on August 8Rs.38,950 on August 8
Lowest rateRs.33,800 on August 1Rs.34,800 on August 1
Overall performanceRisingRising
% change+11.39%+11.06%

Trend of Gold Rate in Nashik for July 2019 (rates per kg)

1st July rateRs.33,200Rs.34,200
31st July rateRs.34,050Rs.35,050
Highest rateRs.34,400 on July 19Rs.35,400 on July 19
Lowest rateRs.32,700 on July 2Rs.33,700 on July 2
Overall performanceRisingRising
% change+2.56%+2.49%

Trend of Gold Rate in Nashik for June 2019 (rates per kg)

Gold Rates22 Carat24 Carat
1st June rateRs.31,450Rs.32,450
30th June rateRs.33,200Rs.34,200
Highest rateRs. 32,650 on June 25Rs.34,650 on June 25
Lowest rateRs.31,450 on June 1Rs.32,450 on June 1
Overall performanceRisingRising
% change+5.56%+5.39%

Trend of Gold Rate in Nashik for May 2019 (rates per kg)

Gold RatesGold Rates24 Carat
1st May rateRs.30,700Rs.31,850
31st May rateRs.31,000Rs.32,000
Highest rateRs.31,600 on May 15Rs.32,600 on May 15
Lowest rateRs.30,600 on May 3Rs.31,750 on May 3
Overall performanceRisingRising
% change+0.98%+0.47%

Trend of Gold Rate in Nashik for April 2019 (rates per kg)

Gold Rates22 Carat24 Carat
1st April rateRs.31,250Rs. 33,250
30th April rateRs.31,400 on April 1Rs.32,650 on April 1
Highest rateRs.30,800 on April 12Rs.31,800 on April 12
Lowest rateRs.30,800 on April 12Rs.31,800 on April 12
Overall performanceRisingFalling
% change+0.45%-1.23%

Trend of Gold Rate in Nashik for March 2019 (rates per kg)

Gold Rates22 Carat24 Carat
1st March rateRs.32,750Rs.35,026
31st March rateRs.31,100Rs.32,640
Highest rateRs.32,750 on March 1Rs.35,026 on March 1
Lowest rateRs.31,100 on March 18Rs.32,640 on March 18
Overall performanceFallingFalling
% change-5.04%-6.81%

Impact of GST on the Rate of Gold in Nashik

Precious metals such as Silver and Gold are subjected to Goods and Services Tax. A 3% GST is applicable on the final price of Gold.

What is BIS Hallmarked Gold Rate in Nashik?

The Bureau of Indian Standards (BIS) is the primary hallmarking agency. It is the National Standards body of India that authenticates the purity of Gold in India. Hallmarking is the process which records and determines the metal content in Gold/Silver articles. Hallmarked Gold will contain the following information:

  • BIS Mark
  • Purity Grade (16 Gold is 22 Karat Gold; 916 Gold means that there is 91.6g of Gold in a 100g alloy. 958 is 23 Karat and 750 is 18 Karat Gold. 18 Karat/22 Karat or 24 Karat).
  • Hallmarking Centre’s Identification Number
  • Jeweller’s identification Mark
  • Year of marking - denoted by a code letter (e.g. ‘R’ for year 2013).

How to Buy Gold after Checking Gold Price in Nashik?

The different ways by which a user can buy gold include:

  • Purchasing gold ornaments from a jewellery store
  • Investing in gold coins and bars offered by jewellers, banks, non-banking finance companies and e-commerce websites
  • Buying Gold ETFs from the stock exchange after opening demat and trading accounts
  • Availing Sovereign Gold Bonds issued by the government
  • Investing in companies involved in the mining, extracting and marketing of gold

Conclusion

Gold as an investment is worthwhile since it acts as a hedge against inflation. Overtime, its returns would be in line with the rate of inflation. The second reason why investment experts recommend this route is due to the fact that gold is negatively correlated to equity investments. A few years back, it was observed that the equity markets did not perform too well, whereas gold did. Thus, including gold to one’s portfolio mix can help reduce the overall volatility of the portfolio.

FAQs on Gold Rate in Nashik

What is the rate of Gold per gram in Nashik?

The rate of Gold per gram in Nashik is Rs. 3,739 as on 9th September 2019.

What is the rate of Gold for 10 grams in Nashik?

The rate of Gold per 10 grams in Nashik is Rs. 37,390 as on 9th September 2019.

What is the rate of Gold for 100 grams in Nashik?

The rate of Gold per 100 grams in Nashik is Rs. 3,73,900 as on 9th September 2019.

What is the rate of Gold for 1 kg in Nashik?

The rate of 1 kg Gold in Nashik is Rs. 37,39,000 as on 9th September 2019.