Gold Rate Update: Gold has historically been a fantastic inflation hedge due to its tendency to appreciate in value when living expenses rise. Over the past 50 years, throughout periods of growing inflation, investors have watched the stock market crash and surging gold prices. This is because everything tends to grow at the same time when fiat money loses its purchasing power due to inflation because gold is normally priced in fiat currency units. The current price of gold in India is Rs 5,470 per gram for 22k gold and Rs 5,967 per gram for 24k gold, commonly known as 999 gold.
Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Mumbai | 54700 |
| Delhi | 54850 |
| Kerala | 54700 |
| Pune | 54700 |
| Lucknow | 54850 |
| Patna | 55,050 |
| Nagpur | 54700 |
| Chandigarh | 54850 |
| Surat | 54750 |
| Bhubaneswar | 54700 |
Gold Rate Update: On MCX
Gold has consistently been demonstrated to be the best inflation hedge. Now more than ever, investors view gold as a significant investment. The cost of the October 5, 2023 expiring 10-gram gold futures contract increased 0.27 percent to Rs. 58744 on the MCX. Priced at Rs. 71964 for delivery on September 5, 2023, silver futures with a December 5, 2023, expiration date are down 1.38% from their previous price.
You can get gold rates by giving a missed call
For information on gold retail prices, you can leave a missed call at 8955664433. You will receive the prices by SMS shortly after giving this number a missed call. In addition, you may always find updates or information at www.ibja.com or ibjarates.com.
Here’s how to check the gold purity
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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