Gold Rate Update: The elements that affect gold prices include interest rates, worldwide demand, currency exchange rates, and governmental regulations. Additionally, gold is now less expensive on the MCX. If the value of the rupee falls against the US dollar, gold will increase in price. Bars, coins, bullions, jewellery, exchanges, ETFs, and other types of gold can be traded. It is regarded as a safe and dependable investing technique that acts as a cushion against inflation. The majority of India’s gold imports are used in the jewellery sector. Silver and gold prices on the Multi Commodity Exchange (MCX) also decreased.
OLD AND SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 55,100 | Rs 75,000 |
| MUMBAI | Rs 54,950 | Rs 75,000 |
| KOLKATA | Rs 54,950 | Rs 75,000 |
| CHENNAI | Rs 55,350 | Rs 78,500 |
Gold Rate Update: What’s up on MCX?
The rupee’s exchange rate with the US dollar is just one of several variables that affect the price of gold and silver in India. Global variations in demand have a big impact on how much the price of precious metals swings. Gold futures with an expiration date of August 4, 2023 were trading at Rs 59,374 per 10 grammes after seeing a minor 0.10 percent loss. Similar to this, silver futures on the MCX with a delivery date of September 5, 2023, decreased by 0.57 percent to trade at Rs 72109 a kg.
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.
Gold Rate Update : Checkout the gold rates on IBJA
IBJA asserts that the price of gold has increased since yesterday. From Rs. 59271 for 10 kilogrammes to Rs. 59310 for 10 grammes, the price of gold has increased. On the other side, the price of silver per kilogramme has dropped from Rs. 72287 to Rs. 72197.
You can get the latest prices of gold by giving a missed call
You can phone 8955664433 and leave a missed call to learn the retail price of gold. You will receive the prices by SMS shortly after making a missed call to this number. Additionally, for ongoing updates or information, visit www.ibja.com or ibjarates.com.
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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