Apr 21
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Gold Rate in Nagpur
Investing in gold in India, to the average Indian, means purchasing gold jewelry and/or ornaments. At least this is what it is in the traditional sense, but a new wave of information and awareness is bringing India to the forefront of investments in gold as a tradable commodity. In Nagpur, second capital of Maharashtra, the perception of gold is changing from jewelry to high-valued investment option.
Trend of Gold Rate in Nagpur for March 2018 (rates per gram for 24 karat gold)
| Parameters | Gold price (per gram) |
| Gold Rate on 1st March | Rs.3,147 per gram |
| Gold Rate on 31st March | Rs.3,148 per gram |
| Highest Rate in March | Rs.3,148 per gram on 8, 9 and from 24 to 31 March |
| Lowest Rate in March | Rs.3,123 per gram from 17 to 23 March |
| Overall Monthly Performance | Incline |
| Percentage Change | 0.03% |
March 2018- Week 1 (1-4)
- Gold prices in Nagpur were steady in the first week of March, with the precious metal trading at Rs.3,147 per gram as trading opened.
- There was no change in price during the week as demand was stable and international demand was also muted due to a rising U.S. Dollar.
- In spite of a drop in the dollar rate due to fears of a trade war with China, there was no change in the price of gold in Nagpur, resulting in the week ending with the metal priced at Rs.3,147 per gram on 4 March.
March 2018- Week 2 (5-11)
- Prices were stable as the second week began, with gold trading at Rs.3,147 per gram on 5 March as there was minimal change in demand.
- There was a minor drop in international demand for gold in spite of markets being shaky over the U.S. announcement of trade tariffs on steel and aluminium.
- There was a slight rise in price as gold traded at Rs.3,148 per gram on 8 & 9 March as the dollar dipped on news of trade tariffs and internal political crises in the U.S.
- In spite of positive global movement in bullion, prices in Nagpur dropped to Rs.3,134 per gram on 10 March.
- Prices remained the same as the week ended on 11 March, with gold priced at Rs.3,134 per gram.
March 2018- Week 3 (12-18)
- There was no change in the price of gold as the week began due to stagnant demand from local jewellers due to the end of the wedding season.
- Gold prices traded at Rs.3,134 per gram from 12-16 March in spite of fluctuations in demand across the world.
- The surprise replacement of Rex Tillerson as U.S. Secretary of State led to stock markets and the dollar index falling, which led to a rise in demand for safe-haven assets like gold.
- However, a strong local equity market led to local demand for gold falling as the metal’s price dropped to Rs.3,123 per gram on 17 March, with prices remaining constant as the week ended on 18 March.
March 2018- Week 4 (19-25)
- Prices were constant as the week began in Nagpur, contrary to trends seen across other Indian cities.
- Gold was priced at Rs.3,123 per gram on 19 March as a slow opening week for the metal was attributed to lower demand from jewelers.
- International demand rose as speculation over the successor to Rex Tillerson and the impact to U.S. foreign policy caused stock markets to be jittery, renewing interest in bullion.
- Prices jumped to Rs.3,148 per gram on 24 March ahead of the Fed Reserve meeting and an increase in industrial demand.
- The week ended with gold priced at Rs.3,148 per gram on 25 March on steady demand from local industrial units.
March 2018- Week 5 (26-31)
- The last week of March saw the price of gold remain constant as stable demand regularised prices.
- Gold was priced at Rs.3,148 per gram on 26 March as a shaky dollar rate resulted in greater demand for bullion as a hedge against possible losses on the bourses.
- Local retail demand was flagging but industrial demand kept prices from falling during the week.
- The month ended with gold trading at Rs.3,148 per gram on 31 March, with the metal making a a mere 0.03% increase in price over the course of the month.
Trend of Gold Rate in Nagpur for February 2018 (rates per gram for 24 karat gold)
| Parameters | Gold price (24 karat) |
| Gold Rate on 1st February 2018 | Rs.3,128 per gram |
| Gold Rate on 28th February 2018 | Rs.3,147 per gram |
| Highest Rate in February | Rs.3,148 per gram from 3-5, 17-22 February |
| Lowest Rate in February | Rs.3,091 per gram from 9-11 February |
| Overall Monthly Performance | Incline |
| Percentage Change | 0.60% |
February 2018- Week 1 (1-4)
- Gold prices in Nagpur opened at Rs.3,128 per gram as the month began, following a period of turbulence and market uncertainty.
- Prices fell as equity markets anticipated positive U.S. jobs market data, leading to a decline in demand for the precious metal.
- Demand was weak before international demand for the metal picked up after a drop in equity markets overseas.
- Local demand was subject to international trends, though demand from jewellers helped keep prices from falling too steeply.
February 2018- Week 2 (5 -11)
- Demand for gold surged after a steep drop in equity markets as investors sold equities in droves and markets fell by 10%.
- The week began with gold rate in Nagpur priced at Rs.3,148 per gram on 5 February but fell due to a fall in local demand.
- The U.S. Dollar rate was also unsteady but the possibility of interest rate hikes later kept the dollar in positive territory.
- Demand for gold fell to its lowest rate for the month from 9-11 February, trading at Rs.3,091 per gram as orders from industrial units as well as jewellers was poor.
- The dismal week’s performance was in stark contrast to gold prices across the world, where investors rushed to invest in the safe haven asset due to declining equities.
February 2018- Week 3 (12 -18)
- The third week saw the price of gold open at Rs.3,103 per gram on 12 February as the metal began a recovery after suffering sharp drops in value in the past week.
- International demand was stabilising after the initial surge in demand for the metal, which led to gold price in Nagpur dropping marginally.
- Gold traded at Rs.3,129 per gram on 16 February as sales picked up after Valentines Day, though margins were lower than usual.
- Industrial units were still cautious, with a drop in orders as the U.S. Dollar traded strongly against other global currencies, making imports of gold more expensive.
- The week ended with another surge in the price of gold as the metal traded at Rs.3,148 per gram on 18 February.
February 2018- Week 4 (19 -25)
- Prices were steady and there was no change in price from the previous week, with gold priced at Rs.3,148 per gram on 19 February.
- A weak dollar rate as well as strong global cues led to stable demand for the yellow metal, with local demand keeping apace with the spike in international demand for the metal.
- A rise in equity markets ahead of the minutes of the U.S. Fed Reserve meeting led to a slide in international demand for golf, though local demand did not see much change.
- The week ended with gold priced at Rs.3,145 per gram o 25 February as stable demand from the retail market kept prices stable in spite of fluctuation in international demand.
February 2018- Week 5 (26 -28)
- The last week of February saw the price of gold trade at stable rates as demand was steady across the local as well as international gold markets.
- The yellow metal opened the week trading at Rs.3,145 per gram on 26 February, with a slight increase in price recorded as the week progressed.
- Reverses in the price of gold in the international market did not impact local demand much, as prices remained steady at Rs.3,147 per gram on 28 February to record a 0.60% rise in value during the month.
Trend of Gold Rate in Nagpur for January 2018 (rates per gram for 24 karat gold)
| Parameters | Gold price (24 karat) |
| Gold Rate on 1st January 2018 | Rs.3,093 per gram |
| Gold Rate on 31st January 2018 | Rs.3,121 per gram |
| Highest Rate in January | Rs.3,162 per gram on 17 and 18 January |
| Lowest Rate in January | Rs.3,080 per gram from 4 to 8 January |
| Overall Monthly Performance | Incline |
| Percentage Change | 0.90% |
January 2018 – Week 1 (1st – 7th):
- When trading began for the new year, gold was priced at Rs.3,093 per gram.
- As demand from the local market was steady, gold continued to trade at Rs.3,093 per gram over the next two days as well.
- Due to a rising US dollar, gold rate in Nagpur dropped down to Rs.3,080 per gram on the 4th of January and remained there for the remaining few days of the week.
- The rise though, happened due to the imminent arrival of the jobs data, which many expected would be positive. This caused gold demand to plummet and the US dollar to rise.
- However, the data wasn’t as positive as expected, which increased safe-haven demand and the US dollar declined.
January 2018 – Week 2 (8th – 14th):
- When the second week of January began in Nagpur, gold was priced at Rs.3,080 per gram.
- Gold prices was Rs.3,080 per gram on the 9th as well as there was no major factors influencing the metal’s rates.
- After the effects of the rising dollar went down, gold rate in Nagpur went up to Rs.3,087 per gram on the 10th before rising again to Rs.3,094 per gram the next day.
- On the 12th, gold traded at Rs.3,111 per gram as demand continued to rise as the US dollar endured a tough time.
- The next day, i.e., on the 13th gold price in Nagpur rose to Rs.3,114 per gram as international demand also surged.
- Gold rates increased significantly on the 14th when the metal traded at Rs.3,147 per gram as the week came to an end.
January 2018 – Week 3 (15th – 21st):
- Gold traded at Rs.3,147 per gram on the 15th and 16th of January as local demand held steady amid stable buying trends from local investors.
- On the 17th, Gold price in Nagpur went up to Rs.3,162 per gram before continuing at this rate till the 19th of January.
- However, Gold rate in Nagpur fell to Rs.3,148 per gram on the 20th as demand took a hit. This rate held on till the closing hours of the week.
January 2018 – Week 4 (22nd – 28th):
- When the fourth week’s trading commenced, gold was seen trading at Rs.3,148 per gram.
- This rose to Rs.3,152 per gram on the 23rd as there was a movement in local demand figures.
- Gold price in Nagpur continued at largely the same rate on the 24th before going up to Rs.3,164 per gram on the 25th of the month.
- Gold rate in Nagpur recorded on the 25th was the highest for the month. This was made possible by a consistently weakening dollar, which was hit by various issues in the US.
January 2018 – Week (29th – 31st):
- When the final week’s trading began, gold was priced at Rs.3,144 per gram.
- As demand was good, gold price in Nagpur continued to sell at Rs.3,144 per gram on the 30th of the month too.
- However, as demand dropped, gold rate in Nagpur went down to Rs.3,121 per gram. Overall, gold price trend saw a 0.90% increase.
