Last updated on: 29th Jan 2023 9:00 AM
Nashik is a city of culture, tradition, and pilgrimage sites situated towards the north of Maharashtra. The third-largest city in Maharashtra, after Mumbai and Pune, is Nashik, which is located on the banks of the Godavari river. Nashik always has a high demand for gold for use in famous temples. Precious metal is also used majorly for investment purposes in the urban population of Nashik.
This article will discuss the recent gold rates in Nashik and other related information. A minor fluctuation in gold rates is observed daily in Nashik due to various economic reasons such as inflation, rupee-dollar valuation, and supply & demand of gold. Check the gold trends in Nashik before investing in it.
Gold rates in Nashik are always slightly different from the other major cities in India. Always check the current gold prices in Nashik before investing in it. The city of holy pilgrimages has been one the leading cities in the country as far as gold demands are concerned.
Apart from factors like transportation charges, state-imposed taxes, and octroi taxes, the global stock market and other global implications play a vital role in denoting the price of gold in Nashik. India is a safe country in this case as it does not get affected by the rise and fall of the global market to a great extent. The reason behind this is that India does not mine their gold. However, several other international factors can heavily influence the purchasing power of the common public and the gold importers.
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|30 Jan 2023|
|29 Jan 2023|
|28 Jan 2023|
|27 Jan 2023|
|26 Jan 2023|
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|24 Jan 2023|
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|21 Jan 2023|
You can purchase gold in different forms and alternatives in Nashik. The traditional form is physical gold, which you must visit a bank or a jewellery shop to buy. The other modes of investing in gold include “Sovereign Gold Bonds”, in which the government of India provides monetary securities in gold grams.
Gold mutual funds and ETFs are other more efficient ways of investing in gold. Investing in physical gold can be a good option for wealth protection in the long term. The best advantage of investing in physical gold alternatives, although being a bit more expensive than real gold, is that there is less chance of going bankrupt as the gold bullion will adhere to the obligations and promises.
Gold ETFs stands for Gold Exchange Traded Funds, an open-ended gold investment scheme that assists in tracking the regular fluctuations in gold rates. 1 gram of 99.9% pure gold is equivalent to 1 Gold ETF unit. So, other than purchasing physical gold, which incorporates the risks of theft, misplacement, etc., gold ETFs can be a safer option. On the other hand, gold funds or gold mutual funds are also open-ended investment schemes. Investment in other alternatives to physical gold is in high demand in the current economic scenario of India.
Gold is considered a very safe asset. Hence, investing in this precious metal is prevalent. Investors love to invest in gold to safeguard themselves from the market and economic fluctuations. You can buy gold in Nashik following these ways:
With modern access to E-gold, ETFs, and futures, you can purchase gold from anywhere in Nashik. The National Spot Exchange initiates E-gold trading. The Bombay Stock Exchange is the trading spot for ETFs. Before starting to trade, beware of the risk that you can bear related to gold investing.
Gold jewellery is in high demand in India, especially in Nashik. Buying gold jewellery is known as purchasing over the counter. Nashik is a place of wonderful jewellers where you can buy your precious ornaments. You can also purchase gold bars and coins from trusted jewellers or banks.
|Day||24K Gold||22K Gold|
|01 January 2023||5411||5153|
|30 January 2023||5626||5358|
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.
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.
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.
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.
What are the standard taxes charges for purchasing gold in Nashik?
How much is one ‘tola' of gold in grams?
Why are gold rates vary in different cities in India?
Q4. What are some famous jewellers in Nashik?
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