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Best Places To Buy Gold In Nagpur
Before investing in gold, you should search for reputable jewellers to ensure their guarantee and purchase purer gold jewellery. To find some trustworthy sellers of gold in Nagpur, read more.
- Karan Kothari Jewellers:
Established in 1965, Karan Kothari Jewellers has been providing 100% BIS hallmarked- 22 karat gold jewellery for 55 years now. You can visit any of their jewellery stores to pamper yourself with an amusing collection of gold ornaments.
- Dass Jewellers:
They are the oldest player in the jewellery industry, providing high-quality gold ornaments to their customers since 1947. You can visit their store or contact them at dassjewellers@yahoo.com to learn more about their offerings.
- Kewalram Jairamdas & Sons
If you are looking for a top provider of gold ornaments, then you can count on Kewalram Jairamdas & Sons. You can buy premium quality jewellery according to the price of gold in Nagpur today.
- Batukbhai Sons Jewellers:
Just like other customer-base, you can trust Batukbhai Sons Jewellers for buying hallmark-certified gold ornaments. The antique collection is designed and crafted by skilled craftsmen to make you fall in love with the ornaments.
- Tanishq Jewellery:
This is the best place where you can buy gold ornaments. Tanishq Jewellery is providing top-quality gold ornaments such as bangles, rings, necklaces, gold coins, and bars since 1994. You can visit the nearest store to check the quality and exquisite collection.
- NFBCs:
You can also buy gold plans from the NFBCs in Nagpur. Some of the reliable sellers include Muthoot Finance Gold Loans, IIFL Gold Loans, and many others.
Historical Gold Rates in Nagpur
Months | Lowest Price (24 Carat) Gold rate/ 10gram | Highest Price (24 Carat) Gold rate/ 10gram |
---|---|---|
Feb,2024 | ₹55,940 | ₹63,820 |
Gold As An Investment
As discussed, gold is preferred to be the best investment option historically. People all over the world buy gold to invest their income for a longer period. Let’s dive into more reasons to purchase gold as a financial asset. Continue Reading.
- Convenient Trading:
The gold rate varies from one city to another city because of certain factors. Hence, you can earn a maximum profit by trading for gold in a place where the price of gold is lower than in your city.
- Maintain Its Value During Inflation:
The continuous increase in prices over a very long period has resulted in making people believe that gold is a prudent investment. It has the power to beat inflation, and safeguard them against market fluctuations.
- Financial Security:
You may rely on gold as a dependable source of safety during deflation or any other financial catastrophe. Hence, to overcome your financial crisis, you can sell your gold.
- Low-maintenance Asset:
Some people choose to invest in gold because it doesn’t require any extra cost of maintenance. You can buy and keep gold in a safe place.
Things To Remember While Buying Gold In Nagpur
We all put our money toward purchasing purer gold of high quality. Isn’t it? Therefore, we’ve enumerated some of the important factors that you should consider while buying gold in Nagpur. Check the below section.
- Purity Of Gold:
You should always check the density of gold before purchasing. Consider buying the higher “Karats” gold because its higher density will increase the chances of gold being purer.
- Hallmark Certified Gold:
It is always good to get hallmark-certified gold jewellery when buying gold to be sure that your money is invested in the highest quality of gold.
- Don’t Make Festive Purchases:
It is best to steer clear of buying gold as an investment during the festivals, especially during Diwali because demand for the metal spikes and subsequently leads to a hike in the prices.
- Buy From Reputable Jewellers:
When you are planning to invest in gold, it is important to purchase premium gold from the most recognised and trustworthy jeweller in Nagpur.
- Making Charges:
Among different jewellers, compare and weigh your options carefully to buy the gold at the lowest making charges. Hence, it is important to choose wisely.
Factors Which Affect The Gold Price In Nagpur
The gold rate today can be influenced by many factors and can leave a significant impact on its price. Some of the internal and external factors like politics, social, geographical, and economical can change the current market value of the gold. In the section below, you can read more about some of the factors that have a big impact on gold prices in Nagpur.
- Changes in the value of the US Dollar:
Since the US dollar and gold prices are negatively correlated, the US dollar's value has a big impact on gold prices. Consequently, a decline in the value of the US dollar will cause a rise in the price of gold.
- Festivals And Special Occasions:
Most people buy gold during anniversaries and celebrations because they perceive it as a fortunate element. As a result, the price of gold ultimately rises in response to the rising demand for it.
- High Investment In Gold Reserves:
The money along with the gold investment is done by The Reserve Bank Of India. As a result, the price of gold increases whenever government institutions start investing in it.
- Charges On Importing The Gold:
India's rising gold demand is met by importing gold from other nations. The price of gold will therefore be impacted by changes in import costs.
FAQs
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Do I need to pay tax on bringing gold into Nagpur from abroad?
If you are an Indian citizen with a current passport issued by the Indian government, you may travel with up to 1 kg of gold. Customs duty and taxes must be paid.
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How to check the purity of gold in Nagpur?
The density of gold can be used to measure its purity. Before buying gold in Nagpur, check the karats.
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What is the difference between 22 karats and 24 karats of gold?
The crucial difference between the two of them is purity. Compared to 24-karat gold’s 99.9% purity, 22-Karat gold is just 92% pure.
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How Do You Double-Check Your BIS-Hallmark in Nagpur?
To verify the purity of your gold through the BIS hallmark, use the product’s Hallmark Unique Identification Number. Each ornament has a distinct serial number that may be used to authenticate its originality. Moreover, you can also check via BIS Care App.