Gold Rate Update: Over the years, gold has been the ideal hedge against inflation. Gold is becoming a more significant investment in the eyes of investors. When the market closed, the cost of gold and silver was Rs 59,135 for 10 grammes and Rs 75,567 for 1 kg, respectively.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 55,130 | Rs 77,700 |
| MUMBAI | Rs 55,100 | Rs 77,700 |
| KOLKATA | Rs 55,100 | Rs 77,700 |
| CHENNAI | Rs 55,360 | Rs 81,500 |
Gold Rate Update: What’s up on MCX?
The value of the rupee relative to the dollar is one of many variables that affect the price of gold and silver in India. The changes seen in the price of precious metals are also heavily influenced by global demand. On the MCX, gold futures with a maturity date of August 4, 2023, were trading at Rs 59,298 per 10 grammes, up just Rs 150 or 0.25 percent. Similar to gold, which experienced a rise of Rs 250 or 0.33 percent, silver futures, maturing on September 5, 2023, also saw a rise and were trading at Rs 75,829 per kg on the MCX.
Multi Commodity Exchange of India is the full form of MCX. It is an autonomous body for commodity exchange in India. It offers to trade in bullion, energy and agricultural commodities apart from non-ferrous metals.
This is an exchange for commodities like the BSE is for stocks and shares. The MCX sells the products in bulk.
The price for the asset depends upon various factors and is not determined at MCX. The MCX Silver rates are set by trading activity and a bunch of different other factors.
Gold Rate Update : As per IBJA, these are the prices of gold and silver
The price of gold has increased today compared to yesterday, according to IBJA. The price of gold has decreased from Rs 59265 per 10 kilos to Rs 59270 per 10 grammes today. The cost of silver, on the other hand, silver is decreased from Rs 75115 per kg. to Rs 75066 per kg.
Here’s how to know the latest price of gold by giving a missed call
You can give a missed call on 8955664433 to know the retail rates of gold. Shortly after giving a miss call on this number, you will get the rates through SMS. Along with this, you can see www.ibja.com or ibjarates.com for constant updates or information.
This is how you can determine the purity of gold
If you want to check the purity of gold right now, the government has created an app for that. Customers can check the purity of gold using the BIS Care app. You can use this app to not only check the purity of gold, but also to file a complaint about it.
Disclaimer: (This information is provided solely for informational purposes. It is important to note that investing in the market or a business idea involves market risks. Before investing money as an investor/ owner/ partner, always consult an expert. DNP News Network Private Limited never advises to invest money on stocks or any specific business idea. We will not be liable for any financial losses.)
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