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Gold Rate in Solapur (4th February 2023)

Feb 4, 2023
5,310 /Gram(22ct) -50

Solapur in Maharashtra has always seen gold demand rising over the years. In fact, the purest form of gold, which is 24 karats also has buyers in the city. There is a high possibility that we would continue to see prices move higher in the coming months. A demand rise in the city could be good for prices to move higher. 

Today 22 Carat Gold Price Per Gram in Solapur (INR)

Gram 22K Today 22K Yesterday Price Change
1 gram 5,310 5,360 -50
8 gram 42,480 42,880 -400
10 gram 53,100 53,600 -500
100 gram 5,31,000 5,36,000 -5,000

Today 24 Carat Gold Rate Per Gram in Solapur (INR)

Gram 24K Today 24K Yesterday Price Change
1 gram 5,793 5,847 -54
8 gram 46,344 46,776 -432
10 gram 57,930 58,470 -540
100 gram 5,79,300 5,84,700 -5,400

* The above gold rates are indicative and do not include GST, TCS and other levies. For the exact rates contact your local jeweller.

Gold Rate in Solapur for Last 10 Days (10 g)

Date 22K 24K
Feb 3, 2023 53,100 -500 57,930 -540
Feb 2, 2023 53,600 600 58,470 650
Feb 1, 2023 53,000 500 57,820 550
Jan 31, 2023 52,500 -150 57,270 -170
Jan 30, 2023 52,650 0 57,440 0
Jan 29, 2023 52,650 0 57,440 0
Jan 28, 2023 52,650 150 57,440 170
Jan 27, 2023 52,500 -600 57,270 -660
Jan 26, 2023 53,100 400 57,930 440
Jan 25, 2023 52,700 0 57,490 0

Compare Average Gold Rate in Solapur for 22K & 24K (10gm)

Term 22K 24K
10 Days 52,845 57,650
20 Days 52,538 57,322
30 Days 52,164 56,910
60 Days 51,089 55,736
90 Days 50,204 54,771
180 Days 48,539 52,953
1 Year 47,983 52,346
2 Years 47,037 49,793
3 Years 47,010 49,180
4 Years 44,317 46,263
5 Years 41,810 43,768
6 Years 39,785 41,828
7 Years 38,472 40,502

Weekly & Monthly Graph of Gold Price in Solapur

Historical Price of Gold Rate in Solapur

  • Gold Price Movement in Solapur, January 2023
  • Gold Rates 22K 24K
    1 st January rate 50,600 55,200
    31st January rate 52,500 57,270
    Highest rate in January 53,100 on January 26 57,930 on January 26
    Lowest rate in January 50,450 on January 2 55,040 on January 2
    Over all performance Rising Rising
    % Change +3.75% +3.75%
  • Gold Price Movement in Solapur, December 2022
  • Gold Price Movement in Solapur, November 2022
  • Gold Price Movement in Solapur, October 2022
  • Gold Price Movement in Solapur, September 2022
  • Gold Price Movement in Solapur, August 2022
  • Gold Price Movement in Solapur, July 2022

What do gold buyers in Solapur prefer?

Gold trends in the city of Solapur in Maharashtra prefer investing in small gold jewellery items rather than in gold coins, gold bars and biscuits. The disadvantage for investors in Solapur when considering this is that gold jewellery would come at an even more expensive rate given the fact that making charges would be included in the price of the gold jewellery. This means that when you sell gold jewellery in Solapur, you would not receive the making charges, which means you have lost a lot of money. Therefore, what we advocate is that if you are going for pure gold, it would be better to buy gold coins and biscuits and if you are going for 22 karats gold in Solapur, than it would be option to consider buying into gold coins. Remember making charges can be very high and hence what we would suggest avoiding gold jewellery, if you are an investor.

Solapur sees an upward trend for gold

Solapur has been constantly seeing an upward trend in prices over the last few years. However, prices have declined post the covid era as investors have now flocked to equities, abandoning the purchases of gold. However, gold rates in Solapur, like other cities in India have managed to hold, thanks to the rupee, which has fallen substantially from the current levels. Apart from this, investors have also been looking to alternate forms of investment. Gold prices in Solapur largely take cues from prices of other bigger cities in Maharashtra like Pune and Mumbai. Almost, all of the cities in the state have been seeing a firm trend. Apart from this, global prices have been declining, but, the falling rupee has thus far helped to support gold prices. Those who are looking to invest in gold, should note that it barely gives returns in the short run.

How many times do 22 karats and 24 karats gold rates change in Solapur?

22K gold also called 916 purity gold in Solapur has seen good demand. Gold rates for both 22k and 24k change around 2-3 times in Solapur. If you visit the showrooms early, they would reflect the previous day's prices. It's hard to pinpoint the exact time of change of prices, but, by and large they change around 11 am to 12 noon and again later during the course of the day. Today's Gold prices in Solapur depend on a host of things including international prices and currency movements. Solapur being very close to the city of Pune, gold rates are not very different in both the cities. If you are buying a larger quantity of gold, it would be better to check the prices before going out to buy.

How to check 1 gram purity of gold in Solapur?

Solapur has numerous popular gold jewellery shops, where you are assured of high quality gold jewellery. However, at times buyers maybe a little skeptical as well on the quality of gold jewellery that is being sold. At such times, the best way t check for pure gold in Solapur would be to buy gold which is hall marked. In fact, when you see hallmarked gold, you would automatically know and be rest assured on the purity. In the city of Solapur in Maharashtra, there are a number of popular gold jewellery shops that sell you hall marked gold. This makes it easier for investors to buy into the precious metal without any fear. Even for 24 karats for 1 gram, one must be assured of the purity, though these normally come as gold coins and gold bars. The best thing to do would be to visit the jewellery showrooms in Solapur, who also offer the ability to check gold.

Which are the popular gold jewellery shops in Solapur?

There are many popular shops in Solapur where you can buy gold jewellery. Among the more famous ones among the locals in the city is PN Gadgil and Sons, Waman Hari Pethe and Shingavi Jewellers. Apart from this, we have the bigger chains like Malabar Gold and Diamond and Tanishq, which have their showrooms in the city. Solapur being close to Pune in Maharashtra, the rates do not differ. However, buyers should check with the different showrooms within Solapur and buy at the best possible gold prices. We have often noted that in Solapur, there tends to be a difference in gold prices and hence if you are a buyer, make sure you get it at the most competitive rates. On the other hand a seller in the city of Solapur, should look for gold prices that are the highest in order for him to go ahead and sell at the best prices.

Why you must always check for making charges of Gold jewellery in Solapur?

One of the factors that can have a bearing on the cost of jewellery is making charges. Our belief is that in some cases they can go very high as a percentage of the total cost of jewellery. It is hard to pinpoint what would be the exact cost of making charges, but, it could range from 5% to 25%. To be precise, making charges really depend on the type of jewellery. For example, the more intricate the design, the chances are that higher making charges would be applicable on the same. Therefore, if you are buying 916 gold jewellery in Solapur, it would be advisable to first check the making charges. Some jewellers might reduce the making charges, which should help bring down the cost of gold jewellery. It is important that you bargain with the goldsmith and arrive at the best cost for the jewellery.

Historical gold rates in Solapur for 22k for 1 gram

Solapur has seen gold rates move in a range of Rs 4700 per gram of 22 karats to Rs 5010 for 22 karats. As for 24 karats the rate per gram in Solapur has been closer to Rs 5400 per gram. Historical rates for the last 1-year have been between Rs 4500 per gram to Rs 5010 per gram. The fall hat we saw to levels of Rs 4500 were largely on account of the fact that there was large scale anticipation of interest rate hikes by the US Federal Reserve, which led to fall in global prices and hence fall in rates in Solapur as well. However, looking to historical gold rates is not the best way, ahead of a decision to buy the precious metal. What you should be looking for is a long-term holding period, which generally results in good upward gains for gold.

Where to sell gold in Solapur?

There are numerous places in Solapur where you can sell gold. There could be some specialized centres, which deal in sale of gold only. Most jewellers also engage in buying gold, but, then the most important think to see here is the prices that you get. The ideal thing to do here is to ensure that you check with a number of jewellers so that you get the best rates possible. This is a trend that we have noticed especially in the smaller towns and cities, where it is impossible to get uniform gold rates. In such cases the best thing for investor to do would be the keep enquiring with all those who are buying gold, so as to ensure that you get the best possible rates in the city of Solapur. A number of companies that now deal only in buying gold only and charge a small rate for the same.

What are the various options for gold investment in Solapur?

Investors of gold in Solapur have a lot of options. To begin with leave aside the traditional physical gold investments and let's talk of the Sovereign Gold Bond Scheme. This bond is a government securities denominated in grams of gold, which makes it certainly attractive for investors in Solapur. They are substitutes for holding physical gold, but, interestingly, investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity. When the bond matures, The quantity of gold for which the investor pays is protected, since he receives the ongoing market price at the time of redemption/ premature redemption. In short, the bonds track gold prices, are safe since they are in electronic form and one receives interest rates on the same. Minimum investment in the Sovereign Gold Bond Scheme is one gram with a maximum limit of subscription of 4 kg for individuals

Will gold prices in Solapur rally in 2023?

Anybody trying to predict a more or less accurate trend in silver rates in Solapur is trying to play smart. This is simply because today's gold rates in Solapur are an outcome of global prices, which in turn are dependent on so many factors, that are either unrelated or related to each other. The best thing to do today when you are buying 916 hallmarked gold in Solapur is to average the cost, if you are unsure, which direction gold rates would move. Let us cite an example. Let us say that 1 grams Gold in Solapur costed Rs 5100 for 22k and you bought 1gram only considering that prices were higher. The next month as prices falling you could perhaps buy 10 grams gold at a lower costs, thud reducing your overall average price. Over a period of time, as prices rally you would have noticed that you have bought it at much lower rates.

Disclaimer: The gold rates are sourced from local jewellers in the city. There maybe variance in rates and prices. GoodReturns.in has made every effort to ensure accuracy of information provided; however, Greynium Information Technologies Pvt Ltd, its subsidiaries and associates do not guarantee such accuracy. The rates are for informational purposes only. It is not a solicitation to buy, sell in precious gold. Greynium Information Technologies Pvt Ltd, its subsidiaries, associates do not accept culpability for losses and/or damages arising based on gold information provided.

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