Gold Rate Update: The rupee’s exchange rate to the US dollar is one of many factors influencing the price of gold and silver in India. Precious metal prices are significantly impacted by fluctuations in global demand. These gold rates are up-to-date as of right now, and they are gathered from renowned jewellers all throughout the country. The current price of gold in India is Rs 5,410 per gramme for 22k gold and Rs 5,902 per gramme for 24k gold, commonly known as 999 gold.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 54,250 | Rs 73,500 |
| MUMBAI | Rs 54,100 | Rs 73,500 |
| KOLKATA | Rs 54,100 | Rs 73,500 |
| CHENNAI | Rs 54,550 | Rs 76,700 |
Gold Rate Update on MCX
On the Multi Commodity Exchange (MCX), gold prices have risen. Gold futures on the MCX were trading at Rs 58420 per 10 grammes, up 0.22 percent, with an expiration date of August 4, 2023. On the MCX, silver futures with an expiration date of September 5, 2023, increased 0.40 percent to Rs 70300 per kg. The first thing to remember is that the price of regular gold and gold with a hallmark is the same. When you receive a hallmarked gold rate, there are no extra fees. Gold sold at its usual price does not change. The only difference is that when you buy ordinary gold, its purity is guaranteed.
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.
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.
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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