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Gold Rate Today in Nagaland - 22 Carat and 24 Karat Gold Price in Nagaland ( 4th October 2022)

Nagaland in the North East of India has several tribes, bringing in cultural diversity, traditions, and festivals. This has earned it the nickname of 'Land of Festivals'. Like people all over India, investors in Nagaland hold gold as a safety net and as a hedging instrument because of gold’s value. In many of their rituals and traditions, the exchange of gold ornaments, buying jewellery, and transferring gold from generation to generation is still a practice. Dimapur, Mokokchung, and the capital city of Kohima are the major cities in Nagaland and may have higher prices than the gold sellers in the rural areas of Nagaland.

What is Today’s Gold Rate in Nagaland?

The current gold rate in Nagaland as of 4th October 2022, or the 22-carat gold rate in Nagaland today, is ₹ today_goldrate_22k/gm. The 24-carat gold rate in Nagaland is ₹ 5051/gm of 24K gold.

Gold Rates in Nagaland for Last 10 Days

Here is the 22k gold rate today in Nagaland and 24-carat gold rate in Nagaland behaviour over the last 10-days.

Date

10 Gram (22 K)

10 Gram (24 K)

04 October 2022

₹ 48100

₹ 50510

03 October 2022

₹ 47750

₹ 50140

02 October 2022

₹ 47750

₹ 50140

01 October 2022

₹ 47750

₹ 50140

30 September 2022

₹ 47950

₹ 50350

29 September 2022

₹ 47150

₹ 49510

28 September 2022

₹ 46950

₹ 49300

27 September 2022

₹ 47450

₹ 49820

26 September 2022

₹ 47450

₹ 49820

25 September 2022

₹ 47550

₹ 49930

24 September 2022

₹ 48050

₹ 50450

Historical Prices of Gold Rate in Nagaland

              Months

Lowest Price 24 Carat Gold Rs. Per 10 Grams

Highest Price 24 Carat Gold Rs. Per 10 Grams

August 2022

49,240

51,460

July 2022

51,500

50,770

June 2022

48,750

50,300

Final Gold Rates in Nagaland:

Final price= weight of gold x rate/gm plus wastage and making charges (10 to 20% approximately) plus GST @ 3% of the purchase price.

Gold Vs Fixed Deposits

.Take a look at our Gold Vs Fixed Deposits comparative table. 

Factor

Gold

Bank Fixed Deposit

Risk Factor

It is vulnerable to being stolen and involves additional costs in insurance, storage etc.

FD is a low-risk option with a fixed term and low-interest rates are often unattractive during the recession.

 

ROI Analysis

If you make an annual buy of gold for 5 years, historical prices indicate a return earning of 18% CAGR.

FD’s interest rates are linked to the term and offer an annual rate of 5-6% with an additional 0.5% for senior citizens.

 

Premature Closure

Gold provides you with both early liquidation and gold loan options.

In contrast, there is a 1% penalty of the interest earned on the premature closure of an FD.

Liquidity

Gold is a high liquidity investment that is easy to sell. Digital gold units are exchangeable for physical gold,

Whereas, the liquidity of the FD depends on the bank’s discretion.

 

Gold Investment Options:

You can buy gold today in a variety of methods. Take a look at your options.

  • Digital gold or E-Gold
  • Bullion Coins and bars 
  • Gold Sovereign Bonds (SGBs)
  • Gold ETFs
  • Gold stocks/shares in gold production/mining companies
  • Futures contracts
  • Mutual Funds dealing in gold
  • Jewellery
  • Gold derivatives
  • Trading in gold as a commodity. 

Comparative Analysis of Gold Investment Options

Here’s a comparison chart of physical gold with the modern gold investment options.

 

Investment

Demat Account

Gold at Maturity

Gold Jewellery

Investment is made in buying gold bars/ coins/ ornaments.

Doesn’t need a Demat account.

The gold is yours to own from day 1 of purchase. 

Digital gold or E-Gold

 

Investment is made digitally and purchases units of pure gold/ ETF units.

No Demat account needed. Simple paperwork.

Gold is bought and owned in this electronic investment.

Gold Sovereign Bonds (SGBs) and FDs

 

Investment is made in a fixed-term bond or deposit earning a fixed rate of interest and for a fixed term.

No Demat account needed. Simple paperwork.

No gold is connected to the investment.

Gold stocks/shares in gold production /mining companies

 

Investment is made in company stocks involved in gold production and hence returns are dependent on company profits made.

Demat account needed.

Gold underpins the investment when they follow the fund structure.

Gold derivatives

 

Investment is made in larger quantities of gold traded on the stock market.

Demat account needed.

Gold is traded in and not owned in this investment.

Futures contracts

 

Investment is made for trading a fixed quantity of gold bought at present rates, at a future date on the stock market.

Demat account needed

Gold trading at a future date is involved.

Gold Commodity Trading

This investment in the stock market is involved in gold trading and needs specific market knowledge and expertise.

Demat account needed.

Gold trading only.

Factors that Affect Gold Rates in Nagaland

Why do gold rates fluctuate? Several factors affect gold prices. The most important ones are -

Government Gold Reserves  

RBI holds the government gold reserves. When RBI buys more gold, gold prices rise due to an increase in the flow of cash in the market and a decrease in gold supply. 

Inflation 

As gold is compared to currency and holds significant value, it is used to hedge inflation. When inflation is high, demand for gold increases, and vice versa. 

Jewellery Market  

During festivals like Diwali, Akshaya Tritiya, and wedding seasons, the gold rate rises due to increased demand. As a result, when the demand-supply mismatch occurs, it leads to an increase in gold prices. 

Global Movement 

The rate of yellow metal is affected by any global movement in the gold rate. 

Interest rate trends  

With the increase in the rate of interest, people tend to sell gold to get cash. An increased supply of yellow metal leads to decreased rates. However, lower the interest rates; more money in the pockets of customers. Higher the demand and increase in rates of the metal. 

Checklist for Buying Gold in Nagaland

Just to keep your investment safe, here’s what to check before you invest in gold.

  • Purity, Hallmark and BIS Certification: These are important to check. Generally, the hallmark contains all details about the gold like BIS rating, company logo etc. The BIS rating certifies the gold’s purity as 24K/22K/18K.
  • The daily gold rates: Gold rates can vary daily, across locations, and today’s gold rate in Nagaland can even vary at the jeweller’s shop. If trading on the stock market, follow the live rates. For jewellery, follow the IBJA rates. Digital gold follows the declared today’s gold rate in Nagaland per gram.
  • Hidden costs: Gold jewellery purchases have many hidden costs. Always check for making charges ( 7 to 25%), stone and alloy rates as these fetch zero returns, GST @ 3% and be aware that storage costs can also add to the safe-keeping of gold in insurance costs.
  • Buy-back conditions: Buy-back rates are very important to ensure the best returns on your investment. Jewellers may offer to buy it back at the day’s rates minus the stone weight etc, or exchange gold on a gram-to-gram basis. Also, remember white/rose gold has higher processing charges that load the buying price and are deducted from the selling price.

Differences in 24K, 22K and 18K Gold:

24K Gold: This form of gold has 99.9gms/ 100 gms of pure gold and is the most expensive form of gold with a 999 BIS certification. Normally available as dull yellow coins and bars, it is used in fine calibration instruments and casting bullion.

22K Gold: This form of gold has 91.6 gms/ 100 gms of pure gold and is the most used form of gold with a 916 BIS certification. Normally available as shiny gold ornaments, coins and bars, it costs less than the 24K gold per gram.

18k Gold: This form of gold has 75 gms/ 100 gms of pure gold and is the most used form of gold with a 750 BIS certification. Normally available as shiny gold, white or rose ornaments, it costs less than the 24K and 22K gold The 250gms of alloy per 100 gms fetches zero value at sale.

Digital Gold 

Digital gold is, as its name suggests, a digital form of gold that you can buy using your mobile phone on the Khatabook platform or other apps. This gives you a unit or fraction of a unit of gold which is stored in your very own insured gold vault. Buying digital gold has become popular as it cannot be stolen and is pure certified gold, while the process to trade in it just involves a few clicks on the phone. It is bought at the day’s gold rate meaning that even when you buy a fraction you leverage both the day’s prices and your small investments or savings.

Trading of Digital Gold

Gold investments on the electronic platforms just need a mobile phone, a good internet connection and a platform like Khatabook to buy digital gold. 

The general steps involved are:

  • Log in to the platform and open your account. 
  • Now enter your option of sell or buy, the type of gold and its weight in gms.
  • You can choose to pay using a credit/debit card or internet banking and have to upload any of the KYC verification documents like passport or Aadhar card.
  • Make a payment, and the digital gold is instantly reflected in your insured locker.
  • Congratulations on your purchase/ sale at today’s gold rate in Nagaland.
  • The sale price is instantly transferred to your bank account.
  • If you wish to withdraw your gold, just ask for home delivery of the gold as coins/ bars/ gold ornaments and have it safely delivered home.

Availing Gold Loans

Gold loans are a blessing in times of financial distress as the ornaments can now fetch you 90% of their value as a short-term secured loan. Just go to the bank and have your gold checked for a disbursal in 2-3 days. You pay bank interest of 10 to 13% and have to release the pledged gold in a fixed period of time. This way you never dilute your gold resources and still have access to most of its investment value.

Where to Buy Gold in Nagaland

Nagaland has many jewellery stores of repute like:

Jeweller

Location

Sonu LifeStyle

Kohima

Arihant Jewellers

Dimapur

Yamini Jewellers

Mokokchung

Chumukedima Jewellers

Chumukedima

Savya Jewellers

Longleng

Conclusion

No one can predict the rise or fall in the prices of gold as it depends on several factors. But, it is a good idea for gold investors both large and small to have a portion of the investment in gold. Gold is an excellent hedge instrument and pays off in the long run. If investing in jewellery, check out today’s gold rate in Nagaland, the gold rate in Nagaland today 916 for 22K gold and the 18-carat gold rate today. Always ensure BIS certified jewellery and maintain the purchase receipt. To buy digital gold, visit a platform like Khatabook.

FAQs

Q: What are gold funds?

Ans:

Gold funds are a lot like mutual funds that invest in ETFs or gold stocks of gold production companies. On maturity, you can convert the returns of the fund into physical jewellery or bullion.

Q: Does E-gold involve checking the gold purity etc?

Ans:

E-Gold is pure gold bought digitally. You do not need to go to a jeweller to buy pure gold and do not have to even touch the gold to get its ownership with hallmarking and BIS certification. It is stored in your insured locker electronically till you decide to convert it into gold jewellery.

Q: How is the purity of gold determined?

Ans:

The purity of gold is determined by referring to the carats of the BIS certification.

Q: What is a secure investment during the current COVID 19 pandemic?

Ans:

Gold is one of the safest investments, especially during COVID 19.

Q: What is the easiest way to find the gold rate?

Ans:

You can find gold rates on online platforms like Khatabook.

Q: In what forms is physical gold available in Nagaland?

Ans:

You can buy physical gold like gold bars, jewellery or coins at the reputed jewellery stores like Sonu LifeStyle in Kohima, Arihant Jewellers in Dimapur or online from Bluestone, Tanishq, Kalyan Jewellers etc.

Q: Can I track my digital gold?

Ans:

Once you open an account all transactions and the digital gold can be tracked 24/7 in your own insured safety vault account. You can sell it or seek physical gold at any time thereafter.

Q: How long does a gold loan in a bank take?

Ans:

The paperwork is minimal and with BIS certified jewellery it may take just 1 day at your own bank. A maximum of 2-days is possible to avail of a gold loan.

Q: Where can I buy digital gold?

Ans:

Use reputed platforms like KhataBook to buy digital gold.

Disclaimer :
The information, product and services provided on this website are provided on an “as is” and “as available” basis without any warranty or representation, express or implied. Khatabook Blogs are meant purely for educational discussion of financial products and services. Khatabook does not make a guarantee that the service will meet your requirements, or that it will be uninterrupted, timely and secure, and that errors, if any, will be corrected. The material and information contained herein is for general information purposes only. Consult a professional before relying on the information to make any legal, financial or business decisions. Use this information strictly at your own risk. Khatabook will not be liable for any false, inaccurate or incomplete information present on the website. Although every effort is made to ensure that the information contained in this website is updated, relevant and accurate, Khatabook makes no guarantees about the completeness, reliability, accuracy, suitability or availability with respect to the website or the information, product, services or related graphics contained on the website for any purpose. Khatabook will not be liable for the website being temporarily unavailable, due to any technical issues or otherwise, beyond its control and for any loss or damage suffered as a result of the use of or access to, or inability to use or access to this website whatsoever.
Disclaimer :
The information, product and services provided on this website are provided on an “as is” and “as available” basis without any warranty or representation, express or implied. Khatabook Blogs are meant purely for educational discussion of financial products and services. Khatabook does not make a guarantee that the service will meet your requirements, or that it will be uninterrupted, timely and secure, and that errors, if any, will be corrected. The material and information contained herein is for general information purposes only. Consult a professional before relying on the information to make any legal, financial or business decisions. Use this information strictly at your own risk. Khatabook will not be liable for any false, inaccurate or incomplete information present on the website. Although every effort is made to ensure that the information contained in this website is updated, relevant and accurate, Khatabook makes no guarantees about the completeness, reliability, accuracy, suitability or availability with respect to the website or the information, product, services or related graphics contained on the website for any purpose. Khatabook will not be liable for the website being temporarily unavailable, due to any technical issues or otherwise, beyond its control and for any loss or damage suffered as a result of the use of or access to, or inability to use or access to this website whatsoever.