Gold rate in Malegaon
gold rate in malegaon

24K Gold/ 10gm
57,260.00
0.00(0.00%)
22K Gold/ 10gm
54,530.00
0.00(0.00%)

Last updated on: 3th Feb 2023 10:00 AM

Malegaon is located about 100 km from Nashik city and is the second-largest city in the Nashik district. In addition to having power looms, the city is well known for its textile-related industries. Malegaon is famous for its many tourist spots, including Malegaon Fort, Harihar Fort, Someshwar Water Falls, Ramkund, etc. The National Highway (NH) 3 passes through the heart of Malegaon, connecting Mumbai and Agra.

Malegaon has a robust market for gold; people here love to buy it in different forms, such as coins and jewellery. Despite the fluctuating gold prices, people purchase gold ornaments to commemorate special occasions such as marriages and festivals. 

22K & 24K Gold Rates Per Gram in Malegaon

24K
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GramYesterdayToday
1gm
5,726.00
0.00 (0.00%)
5,726.00
0.00 (0.00%)
8gm
45,808.00
0.00 (0.00%)
45,808.00
0.00 (0.00%)
10gm
57,260.00
0.00 (0.00%)
57,260.00
0.00 (0.00%)
100gm
5,72,600.00
0.00 (0.00%)
5,72,600.00
0.00 (0.00%)

Factors Affecting Gold Prices in Malegaon

  • Economic Instability: When there is economic turmoil, there is a significant impact on investment assets. The stock market fluctuates, interest rates keep changing, and there is uncertainty about future stability in financial assets. 
    At such times, gold comes to the rescue. People crave the stability that gold offers and, thus, invest in gold. The opposite happens when there is economic stability. It gives people the safety net required to dip their toes in slightly more risky investment avenues.
     
  • Demand and Supply: During festival and wedding seasons, there is a heightened demand for gold, and the people of Malegoan tend to buy gold in huge amounts hence the price of gold rise in Malegaon. The opposite happens during periods of low demand. There is excess supply, and thus, the price of gold falls.
  • Inflation: Gold prices can be significantly impacted by inflation, which is the rise in the cost of goods and services. The price of gold typically changes in direct proportion to inflation, meaning that higher inflation levels typically cause high prices because the value of money decreases. This is because, during times of inflation, people usually prefer to hold wealth in the form of gold, as gold's value is thought to be stable over the long term, increasing demand. As a result, gold also serves as a hedging tool against inflation.
  • Interest Rates: Over the past few months, the Reserve Bank of India (RBI) has decreased interest rates steeply. This is done to combat inflation in the economy and is beneficial in the long run. In the short term, however, it eats into the returns earned from fixed deposits (FDs). Thus, people buy more gold and invest less in FDs when the interest rate is low in order to get better returns. Consequently, the demand for gold increases, and the rate of gold increases as well.
  • Import Costs: India's gold output is low and nearly insufficient to meet its citizens' ever-growing gold demand. Now more than ever, many Indians are starting to invest in gold, further increasing the country's demand for gold.
    Thus, India has to import most of its gold from other nations. Two-thirds of the total gold imported to the country comes from South Africa. If there are hikes in import duties or additional associated costs, the gold price in Malegaon also increases.

Historical gold rates in Malegaon in last 10 days

1 gram
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Day24K Gold22K Gold
04 Feb 2023
5,726.00
0.00 (0.00%)
5,453.00
0.00 (0.00%)
03 Feb 2023
5,726.00
0.00 (0.00%)
5,453.00
0.00 (0.00%)
02 Feb 2023
5,726.00
90.00 (1.60%)
5,453.00
85.00 (1.59%)
01 Feb 2023
5,636.00
26.00 (0.47%)
5,368.00
25.00 (0.47%)
31 Jan 2023
5,610.00
-16.00 (-0.28%)
5,343.00
-15.00 (-0.27%)
30 Jan 2023
5,626.00
0.00 (0.00%)
5,358.00
0.00 (0.00%)
29 Jan 2023
5,626.00
0.00 (0.00%)
5,358.00
0.00 (0.00%)
28 Jan 2023
5,626.00
16.00 (0.29%)
5,358.00
15.00 (0.29%)
27 Jan 2023
5,610.00
-63.00 (-1.11%)
5,343.00
-60.00 (-1.11%)
26 Jan 2023
5,673.00
42.00 (0.75%)
5,403.00
40.00 (0.75%)

Gold investment options in Malegaon

  1. Jewellery
    This is still the most preferred gold investment method for most Indians. People buy lots of gold jewellery during weddings and festive seasons for personal use and gifting purposes.
  2. Coins and Bars
    This is another common method of investing in physical gold. You can buy gold coins and bars from any jewellery shop in Malegaon.
  3. Digital Gold
    You can now buy digital gold through numerous online platforms like Google Pay, PayTM and PhonePe. The amount of gold you buy is kept securely in your digital wallet. You can begin your investment for as less as ₹1.
  4. Gold Exchange-Traded Funds (ETFs)
    Gold ETFs have become exceedingly popular in recent times. They are easy to buy, highly liquid and get added directly to your Demat account. These ETFs are stored in dematerialised form in a secured account. Gold ETFs are traded on stock exchanges and derive their value directly from the precious metal. 1 gold ETF unit = 1 gram of gold.
  5. Sovereign Gold Bonds (SGBs)
    The Reserve Bank of India (RBI) issues Sovereign Gold Bonds (SGBs) on behalf of the Indian government as a substitute for physical gold. These bonds, which are issued a few times during a fiscal year, are government securities valued in grammes of gold. You can redeem them for cash upon maturity.
  6. Gold Saving Schemes
    Gold-saving schemes are launched by numerous jewellery shops. You can book gold at a certain price and keep making monthly deposits to the jeweller. Once enough money is accumulated in your account, you can buy gold jewellery or gold coins against your investment.

Weekly & monthly gold rate in Malegaon
1 gram
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7 Days
30 Days
3 Months
6 Months
24K GOLD
22K GOLD

Gold vs. FD

Both gold and fixed deposits are popular investment instruments. However, both share some differences, too. To begin with, returns from FD are guaranteed and fixed. Market fluctuations or economic conditions don’t affect your interest income.

On the other hand, gold rates can fluctuate. This is because gold rates get decided daily. They could go up or down based on economic conditions. But per historical trends, gold rates have always gone up in the longer term.

Trend of Gold rates in Malegaon

1 gram
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Day24K Gold22K Gold
01 February 202356365368
05 February 202300
Highest57265453
Lowest56365368

How is the Purity of Gold Evaluated in Malegaon?

Gold is valuable only when it is pure. There are instances where customers are duped with impure gold. Hence, confirming the purity of gold is crucial.

The Bureau of Indian Standards (BIS) is a government authority that certifies the purity of gold. According to BIS, the following factors are to be kept in mind when buying gold.

  1. BIS Mark

    Jewellery hallmarked by BIS will have a BIS logo on it. Remember that since BIS is the only authorized laboratory in India for gold certification.

  2. Karat

    Karat is a scale to gauge gold's purity. While 24 karat gold is the purest, it is too soft for use. Hence, other metals are added and the gold available in the market is often 22 Karat.

  3. Jewellers Identification Mark

    The gold you buy should also carry an identification mark by an authorized jeweller. This helps ensure the gold is from a credible source. The mark can also be helpful in the case of disputes.

FAQs of Gold price in Malegaon

What are the different purity levels of gold available in Malegaon?

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Should I buy 24K gold or 22K gold?

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What distinguishes a gold mutual fund from a gold exchange-traded fund?

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What is a BIS hallmark?

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