Gold rate in Nandyal
gold rate in nandyal

24K Gold/ 10gm
57,490.00
0.00(0.00%)
22K Gold/ 10gm
54,750.00
0.00(0.00%)

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

Investing in gold has been a long-standing tradition in many cultures, and with good reason. The precious metal has always been seen as a symbol of wealth and stability, making it an attractive option for those looking to secure their financial future. Nandyal, a city located in the southern Indian state of Andhra Pradesh, is no exception.

In this blog, we will take a closer look at the various options available for gold investment in Nandyal and the benefits and risks associated with each. Whether you are a seasoned investor or just starting out, this guide will provide you with valuable information to help you make informed decisions about your gold investment in Nandyal.

22K & 24K Gold Rates Per Gram in Nandyal

24K
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GramYesterdayToday
1gm
5,749.00
0.00 (0.00%)
5,749.00
0.00 (0.00%)
8gm
45,992.00
0.00 (0.00%)
45,992.00
0.00 (0.00%)
10gm
57,490.00
0.00 (0.00%)
57,490.00
0.00 (0.00%)
100gm
5,74,900.00
0.00 (0.00%)
5,74,900.00
0.00 (0.00%)

What Factors Affect the Price of Gold in Nandyal? 

Understanding the factors that impact the price of gold in Nandyal can help make informed investment decisions. These factors can be international or domestic as well as national. Following are the various economic, political, and market forces that can affect the cost of gold in the city. 

Demand and Supply

In Nandyal, the price of gold is influenced by its demand and the amount of gold available. When people want a lot of gold, the price goes up because buyers are willing to pay more for it. But when demand is low, sellers may be willing to accept lower prices to sell their gold.

Conversely, the price may go down if there is a lot of gold available. When there isn't much gold, the price may increase.

Indian Rupee Fluctuations

Gold is often seen as a hedge against inflation and is not tied to any specific currency, so changes in a country's currency value can affect the demand for gold. 

For example, if the value of the US dollar (which is often used as a benchmark for gold prices) decreases relative to the Indian rupee, the price of gold in India may increase. 

Currency fluctuations are just one of many factors that can influence the price of gold. Other factors to consider include economic conditions, political instability, and supply and demand dynamics. And all of these factors can impact the price of gold in Nandyal.

Interest Rates

Interest rates can influence the price of gold in India in a few ways. When interest rates are high, the opportunity cost of holding non-yielding assets like gold increases, which can lead to a decrease in demand for gold and a corresponding decrease in its price. Conversely, when interest rates are low, the opportunity cost of holding gold is less, and demand for the metal may increase, driving up its price.

Taxes and Import Duty

The price of gold in Nandyal can also be affected by tax and import duty regulations. When gold is imported into the country, customs duty is levied on it. If the government increases the customs duty, the market price of gold may also increase. 

In addition to customs duty, gold prices in Nandyal may also be impacted by GST, local taxes, and distribution costs, which vary depending on the location. An increase in any of these factors can cause the price of gold to rise. 

Inflation

Inflation can affect gold prices by increasing demand for the metal as a hedge against inflation, as well as by affecting the value of the rupee in the international market and resulting in a higher conversion rate for gold. These factors can lead to higher gold prices.

Historical gold rates in Nandyal in last 10 days

1 gram
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Day24K Gold22K Gold
04 Feb 2023
5,749.00
0.00 (0.00%)
5,475.00
0.00 (0.00%)
03 Feb 2023
5,749.00
0.00 (0.00%)
5,475.00
0.00 (0.00%)
02 Feb 2023
5,749.00
121.00 (2.15%)
5,475.00
115.00 (2.15%)
01 Feb 2023
5,628.00
23.00 (0.42%)
5,360.00
22.00 (0.42%)
31 Jan 2023
5,605.00
-13.00 (-0.23%)
5,338.00
-12.00 (-0.22%)
30 Jan 2023
5,618.00
0.00 (0.00%)
5,350.00
0.00 (0.00%)
29 Jan 2023
5,618.00
0.00 (0.00%)
5,350.00
0.00 (0.00%)
28 Jan 2023
5,618.00
6.00 (0.11%)
5,350.00
5.00 (0.10%)
27 Jan 2023
5,612.00
-37.00 (-0.65%)
5,345.00
-35.00 (-0.65%)
26 Jan 2023
5,649.00
37.00 (0.66%)
5,380.00
35.00 (0.66%)

22 Karats Vs 24 Karats Gold; Which To Buy?

When it comes to buying gold, it's essential to know what you'll use it for. If you're looking to invest, 24K gold is 99.9% pure gold, which means it will likely fetch a higher price when you sell it.

On the other hand, if you want to use gold for jewellery, 22K gold is a better option. It's more durable and resistant to wear and tear, making it suitable for everyday use. Plus, 22K gold is 91.7% gold, so it will still have good value when you sell it.

Remember to always buy gold from a reputable source and look for a hallmark certification to ensure its purity.

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

Investment Options for gold in Nandyal

Gold is a safe investment option. High demand and low supply are the reasons that don't let the gold price go down. There are several ways to invest in gold in Nandyal. 

  • Gold Coins or Bullion: Due to zero making charges, gold coins or bullion are frequently sought after for investments. Traditionally, gold coins have been given as presents at festivals and during the wedding season.
  • Gold Jewellery: It is the most popular option for investing in gold. Traditionally people prefer gold jewellery because of its lustrous nature.
  • Gold ETFs: One of the most excellent methods to invest in gold is through an exchange-traded fund. It does not incur making charges and GST upon gold purchase. It matches the gold rates. These funds have 95% of physical gold. There is zero exit load and minimal expense ratio. 
  • Sovereign Gold Bonds: SGBs are an attractive option for investors looking to invest in gold, as they provide the opportunity to earn a return on the investment while also enjoying the benefits of gold ownership, including tax benefits and liquidity.

Trend of Gold rates in Nandyal

1 gram
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Day24K Gold22K Gold
01 February 202356285360
07 February 202300
Highest57495475
Lowest56285360

Difference Between KDM Gold and Hallmarked Gold

KDM gold and hallmarked gold are two different types of gold in terms of quality and purity.

  • KDM Gold: KDM stands for "Karat gold Demarcation", It is a gold alloy with a small number of other metals such as copper, nickel or zinc. This type of gold is typically used in the manufacturing of electronic devices and is not considered pure gold. It is less expensive than pure gold and is more durable than pure gold.
  • Hallmarked gold: Hallmarked gold is certified as meeting specific standards of purity and quality by the Bureau of Indian Standards (BIS). The BIS is the national standards body of India, and it certifies gold based on its fineness (purity). Hallmarked gold is considered pure gold, as it is made of pure gold and a small amount of alloy for durability. Hallmarked gold is considered of higher quality and purity than KDM gold.
  • Purity: KDM gold is usually alloyed with other metals, so it's not pure 24-karat gold. While Hallmarked gold is certified by BIS and is of higher purity, usually 22 karats or 24 karats.
  • Cost: KDM gold is less expensive than hallmarked gold because it is alloyed with other metals and thus contains less gold.
  • Reselling: Hallmarked gold is considered to be of higher quality and is more valuable. Therefore, it will likely fetch a higher price when resold than KDM gold.

When buying gold, it is essential to be aware of the type of gold you are purchasing and to consider factors such as purity, cost, and resale value. It's always good to buy Hallmarked gold to ensure the quality and purity of the gold.

FAQs of Gold price in Nandyal

Where to buy gold jewellery in Nandyal?

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How to calculate the cost of gold jewellery?

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How can I sell my gold?

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What are the factors affecting gold prices?

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