Gold Rate Today in Malegaon

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. 

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.

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.