Gold Rate in Nashik
What Is The Reason For Demand Of Gold in Nasik?
Gold Nashik, located in the foothills of the Western Ghats in Maharashtra, has recently become a tourist destination thanks to its nickname of the `wine capital of India due to its many wineries. Temples and Churches also add to the tourist attraction of this small city. The booming tourist and wine industry have resulted in boosting the economy of this city and hence provided impetus to the growth the demand for gold for investment reasons.
How Are Investments In Gold Made In Nasik?
Gold is purchased in Nasik for both traditional as well as investment purposes. Gold rates in Nasik are significantly high during auspicious days like Diwali, Dussehra, AkhayaTritaya, Danteras and so on. Gold is purchased in the form of jewelry, coins and bars to be exchanged with friends and family. Gold is also purchased for investment purposes in the electronic form, that is, in the form of Gold-ETFs.
Why Do People Of Nasik Want To Invest In Gold?
Regardless of the gold rate in Nasik gold is considered to be the most prudent investment in Nasik because gold always retains its inherent value and acts as a hedge against inflation and depreciation.
How is todays gold rate in Nasik determined?
Since gold rate in Nasik follows the international gold prices and is also impacted by the currency exchange rates and import duties, the gold rate in Nasik is quite volatile. Hence, todays gold rate in Nasik must be noted before making any buying or selling decisions.
Gold Rate in Nashik
The gold price in Nashik depends on the quality and purity of gold. The residents of Nashik can buy 24 carats, 22 carats, 18 carats or 14 carats gold. 24 carat gold is the most expensive and 14 carat is the cheapest.
Gold Price Movement in Nashik
Today gold price in Nashik depends upon the international gold market. Owing to the thriving economy and prosperous tourism industry, the demand for gold in Nashik is high.
Storing of Gold in Nashik
24 carat gold:
It is the purest form of gold, and it has 99.95% gold mass. It is not used to make jewelry or ornaments because it a very soft metal.
22 carat gold:
22 carat gold contains 91.6% gold mass. It is referred to as the highest quality gold. It is used to create ornaments and jewelry because of a shiny yellow coat that covers this metal. The shine of the 22 carat gold depends on what metal is used with it to make an alloy. The best quality alloy is when the 22 carat gold is mixed with silver. This is the most popular form of gold jewelry.
18 carat gold:
18 carat gold contains 75% of the gold mass, and it is a popular carat for gold jewelry. It provides the metal strength to hold the gemstones, emerald and diamonds.
Gold as an Investment in Nashik
Gold Coins-Today gold price in Nashik depends on the weight of the gold coins and on the demand for these coins. If you buy gold coins from banks, you cannot sell it back to them. If you purchase gold coins from jewelers, you can always sell it back to them.