Gold Rate in Nagpur (14th December 2023)
Gold Rate In Nagpur (14th December 2023)
The gold rate in Nagpur, akin to the broader Indian market, exhibits consistent fluctuations, reflecting the dynamic nature of the precious metal market. At Financial Express, our unwavering commitment is to provide you with real-time updates on gold prices, ensuring that you are consistently well-informed about the latest trends. Based on the most recent data available, the gold rate in Nagpur as of Dec 14, 2023 for 22-karat gold priced at ₹5,765, and 24-carat gold valued at ₹6,289. Our primary objective is to equip you with accurate and timely information, empowering you to make informed decisions regarding your gold investments. Place your trust in Financial Express for the most current and dependable gold price in Nagpur.
Stay informed about silver prices in Nagpur with real-time updates available right here on our platform. We offer accurate pricing data, historical trends, and expert analysis to empower your investment decisions. Follow silver rates in Nagpur here to seize opportunities in the precious metals market.
Gram
22K Today
22K Yesterday
Price Change
1 Gram
₹5,765
₹5,675
₹+100
8 Gram
₹46,120
₹45,400
₹+800
10 Gram
₹57,650
₹56,750
₹+1,000
100 Gram
₹5,76,500
₹5,67,500
₹+10,000
Gram
24K Today
24K Yesterday
Price Change
1 Gram
₹6,289
₹6,191
₹+109
8 Gram
₹50,312
₹49,528
₹+872
10 Gram
₹62,890
₹61,910
₹+1,090
100 Gram
₹6,28,900
₹6,19,100
₹+10,900
Gram
18K Today
18K Yesterday
Price Change
1 Gram
₹4,717
₹4,643
₹+82
8 Gram
₹37,736
₹37,144
₹+656
10 Gram
₹47,170
₹46,430
₹+820
100 Gram
₹4,71,700
₹4,64,300
₹+8, 200
- What factors determine the price of gold in Nagpur?
Gold prices in Nagpur depend on the rates of the yellow metal in the international markets, inflation, economic stability, import costs, and the value of the rupee against the dollar.
- When would be the best time to purchase gold?
Gold can be purchased at any given time as per your needs. However, it is important that you check the purity of gold before buying it.
- How does 24 karat gold differ from 22 karat gold?
No additional metals are added to 24 karat gold, while additional metals apart from gold are added to 22 karat gold. The percentage of pure metal in the case of 22 karat gold is around 92.
- Will the prices of gold differ from city to city?
Yes, the prices of gold will be different in every city. The main reasons for the prices to vary in every city are transportation costs, the amount of gold that has been bought, and local taxes.
- Do the interest rates on fixed deposits affect gold prices?
Yes, gold prices are affected by the interest rates on fixed deposits
Q: What is the chemical symbol for gold?
A: The chemical symbol for gold is Au, which comes from the Latin word “aurum.”
Q: What is the significance of gold in ancient civilizations?
A: Gold held immense significance in ancient civilizations due to its rarity, durability, and lustrous appearance. It was associated with wealth, power, and divine attributes. Many cultures used gold in religious ceremonies, jewelry, and as a symbol of status and prestige.
Q: How is gold typically mined and extracted?
A: Gold is commonly mined through various methods, including open-pit mining, underground mining, and placer mining. Once mined, gold ore undergoes extraction processes such as crushing, grinding, and chemical treatment (cyanidation) to separate the gold from the ore.
Q: What are the unique properties of gold that make it valuable?
A: Gold possesses unique properties like high malleability, ductility, conductivity, and resistance to corrosion, making it highly valuable in various industries, especially in electronics, jewelry, and as a financial asset.
Q: What is the primary use of gold in today’s world?
A: While gold has several applications, its primary uses include jewelry making, investment in the form of bullion and coins, and industrial purposes like electronics and dentistry due to its conductivity and non-reactive nature.
Q: How does the price of gold fluctuate in the market?
A: The price of gold is influenced by various factors such as supply and demand dynamics, geopolitical events, inflation rates, currency fluctuations, and investor sentiment. It is traded on global commodity exchanges and its price is subject to market speculation and economic conditions.
Q: What is the term used to describe the purity of gold?
A: The purity of gold is measured in karats (or carats), with 24 karats being considered pure gold. Lower karat values indicate a lesser percentage of gold alloyed with other metals. For example, 18 karat gold is 75% pure gold mixed with other metals for durability.
Q: How does gold act as a hedge against inflation?
A: Gold is often considered a hedge against inflation because its value tends to rise during times of inflation or economic uncertainty. As the purchasing power of fiat currencies decreases, investors turn to gold as a store of value, preserving wealth in the face of currency devaluation.
Q: What is the largest consumer of gold worldwide?
A: The largest consumer of gold globally is the jewelry industry, accounting for a significant portion of the total annual gold demand. Countries like India and China have historically been major consumers of gold for jewelry-making purposes.