Gold Rate Update: A few of the factors that affect gold prices are interest rates, worldwide demand, currency exchange rates, and regulatory regulations. And gold is now less expensive on the MCX today. If the value of the rupee falls versus the US dollar, gold will become more expensive. Bars, coins, bullions, jewellery, exchanges, ETFs, and other types of gold can all be exchanged. It is regarded as a safe and dependable investing technique that acts as an anti-inflationary buffer. The majority of India’s gold imports are used to meet the demands of the jewellery sector. Silver and gold both experienced declines in price on the Multi Commodity Exchange (MCX).
GOLD AND SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 55,400 | Rs 77,000 |
| MUMBAI | Rs 55,250 | Rs 77,000 |
| KOLKATA | Rs 55,250 | Rs 77,000 |
| CHENNAI | Rs 55,500 | Rs 80,000 |
Gold Rate Update: What’s up on MCX?
One of a number of factors that influence the price of gold and silver in India is the rupee’s exchange rate with the US dollar. Demand fluctuations around the world have a significant impact on changes in precious metal prices. After registering a slight decline of 0.26 percent, gold futures with a maturity date of August 4, 2023, were trading at Rs 59,630 per 10 grammes. In a similar vein, silver futures with a delivery date of September 5, 2023, fell by 0.26 percent and were trading at Rs 73865 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 : Checkout the gold rates on IBJA
IBJA claims that gold is now less expensive than it was yesterday. The cost of gold has dropped from Rs. 59385 per 10 kilogrammes to Rs. 59491 for 10 grammes. The cost of silver per kilogramme has grown from Rs. 73369 to Rs. 73420 on the other hand.
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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