Gold Rate Update: The current price of gold in India is Rs 5,420 per gramme for 22k gold and Rs 5,913 per gramme for 24k gold, commonly known as 999 gold. One of several elements affecting the price of gold and silver in India is the rupee’s exchange rate to the US dollar. Variations in the world’s demand have a big influence on precious metal prices. These gold prices are current as of right now and were compiled from reputable jewellers around the nation.
Cities Gold Rates Today
| City | 22K | 24K |
|---|---|---|
| Chennai | ₹54,600 | ₹59,560 |
| Mumbai | ₹54,200 | ₹59,130 |
| Delhi | ₹54,300 | ₹59,220 |
| Kolkata | ₹54,200 | ₹59,130 |
| Bangalore | ₹54,200 | ₹59,130 |
| Hyderabad | ₹54,200 | ₹59,130 |
| Kerala | ₹54,200 | ₹59,130 |
| Pune | ₹54,200 | ₹59,130 |
| Vadodara | ₹54,100 | ₹59,020 |
| Ahmedabad | ₹54,100 | ₹59,020 |
| Jaipur | ₹54,300 | ₹59,220 |
| Lucknow | ₹54,300 | ₹59,220 |
| Coimbatore | ₹54,600 | ₹59,560 |
Gold Rate Update on MCX
The cost of gold has increased on the Multi Commodity Exchange (MCX). With an expiration date of August 4, 2023, gold futures on the MCX were trading at Rs 58586 per 10 grammes, up 0.16 percent. Silver futures with a September 5, 2023, expiration date rose 0.15 percent to Rs 71768 a kg on the MCX. The first thing to keep in mind is that normal gold and gold that has a hallmark cost the same amount of money. There are no additional charges when you obtain a hallmarked gold rate. The price of gold sold remains the same. The only distinction is that when you purchase regular gold, its purity is ensured.
How can you know the purity of the gold?
Currently, there is an app available from the government that allows you to check the purity of gold. Using the BIS Care app, customers may determine the purity of gold. Not only can you examine the purity of gold using this app, but you can also complain about it.
Gold as an asset
One of the most sought-after investments during unrest is gold, a precious metal. Around the world, investments in precious metals have increased year over year. Since 2001, the metal has increased by about 15% annually. Since the financial crisis shook the markets in 2008–2009, it has become increasingly important to practise effective risk management due to the special quality of the safe haven jewellery metal. The days when ladies wore gold as an ornamental metal to celebrate special occasions are long gone. Even institutional investors have been compelled to participate in this asset, which serves as a source of long-term returns, due to the shifting speed of economic growth.
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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