Gold Rate Update: Over the years, gold has shown to be an excellent inflation hedge. Gold is becoming a more essential investment for investors. We are presenting the gold price in India for our readers’ information only. These gold rates are current and sourced from reputable jewellers in the country. Gold prices in India today are Rs 5,545 per gramme for 22k, and Rs 6,049 per gramme for 24k, commonly known as 999 gold.
Gold Rate Update on MCX
On the Multi Commodity Exchange (MCX), both gold and silver prices have increased. Gold futures, which expire on August 4, 2023, were trading at Rs 59,610 per 10 grammes on the MCX, up Rs 88 or 0.15 percent. Silver futures, which mature on September 5, 2023, rose by Rs 462 or 0.61 percent and were trading at Rs 75,945 per kg on the MCX.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 55,300 | Rs 77,400 |
| MUMBAI | Rs 55,150 | Rs 77,400 |
| KOLKATA | Rs 55,150 | Rs 77,400 |
| CHENNAI | Rs 55,520 | Rs 80,400 |
Know about the rates in International markets
As traders prepared for a highly anticipated rate hike and monetary policy hints from the U.S. Federal Reserve over the next two days, gold prices struggled to find direction in early Asian trading on Tuesday, according to news agency Reuters. The most recent metal report shows that spot gold increased 0.2% to $1,958.20 per ounce by 0119 GMT, while U.S. gold futures decreased 0.1% to $1,959.90.
The dollar index was at a nearly two-week high, which hurt gold because buyers holding other currencies must pay more for metal when the currency is strong. Notably, since they raise the opportunity cost of storing non-yielding metal, rising interest rates have a significant impact on the price of gold.
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 decreased from Rs. 59282 per 10 kilogrammes to Rs. 59143 for 10 grammes. The cost of silver per kilogramme has grown from Rs. 73889 to Rs. 73939 on the other hand.
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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