Today’s Gold Rate in Nagpur

Nagpur, being the third largest city in Maharashtra, is known for dazzling summers and chilly winters. Nagpur always held a special place for gold even before independence as it was the geographical centre for British-controlled Bharath. Major chunk of India’s gold deposits (few are from pre-independence era) are held by the Reserve Bank of India’s Nagpur branch. Like any other user, the people of Nagpur uses gold for jewellery/ornaments and as well as for investment purposes. The city of oranges has some famous jewellery showrooms and traders that can make your gold buying experience an exciting and interesting one. Below are the few jewellery showrooms shining in the second capital of Maharashtra:

Inter Gold Gems Pvt Ltd, Karan Kothari Jewellers, Sathe Jewellers, ORRA, Pandits, Tanishq, Tribhovandas Bhimji Zaveri (TBZ), Batukbhai Sons Jewellers, Jos allukas, Pure Gold and many more.

Gold is available in different purity 22 Karat and 24 Karat; buyer needs to ensure that he/she is buying a certified gold from well established gold trader. The certificate of authenticity is most important thing while buying gold.

In Nagpur, gold can be bought and invested in many ways. Here are few choices for gold buyers in Nagpur

• Gold Bullion: Gold bullions can be bought in the form of gold bar or piece of gold (in standard size). Investment in gold bullion is nothing but investing in gold commodity that involves trading in larger volume and quantity. Gold bullions are traded internationally and it’s mainly for those investors (miners, dealers and big traders etc) who trade in larger quantity, say about more than 500 grams and 1 kilo.
• Gold Coins: In India, gold coins are largely popular as it could be used for ornaments and investment in the future. It’s the most common form of buying physical gold, especially during the festive seasons. Gold coins are available in many denominations like 1 gram, 2 gram, 5 gram, 8 gram, 10 gram, 20 gram and 50 grams. Retailers mostly prefer this form of investment in physical gold as it can be invested in smaller volumes with lesser exposure to price fluctuation risk. Government of India has also introduced Indian gold coins which can be bought from designated banks and MMTC outlets. There are many well established jewellery brands that offer gold coins at an attractive rate with a certificate of purity.
• Gold Ornaments and Jewelleries: India always has a higher demand for gold, more than 50% of which is for ornaments. The Gold demand in India is driven by rituals and culture. It is considered to be auspicious, a symbol of wealth and hence, forms a fundamental part in our heritage and culture. Be it Akshay Thritiya, Dhanteras, Karva Chauth, etc. any festival is not completed without gold jewellery and ornaments. Indian weddings seasons are the season of gold! Every city in India has high demand for gold ornaments and Nagpur is no different!

Apart from investing in physical gold, there are also options like gold exchange traded funds, e-gold etc. available for Nagpurkars’ to invest in gold.