Gold Rate Update: Interest rates, global demand, currency exchange rates, and regulatory requirements are all factors that influence gold prices. And gold is currently less expensive on the MCX. Gold will become more expensive if the rupee declines in value against the US currency. Gold can be exchanged in the form of bars, coins, bullions, jewellery, exchanges, ETFs, and other forms. It is regarded as a secure and reliable investment strategy that serves as an anti-inflationary buffer. The jewellery industry accounts for the vast majority of India’s gold imports. On the Multi Commodity Exchange (MCX), the prices of silver and gold both fell.
GOLD AND SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 55,550 | Rs 78,000 |
| MUMBAI | Rs 55,400 | Rs 78,000 |
| KOLKATA | Rs 55,400 | Rs 78,000 |
| CHENNAI | Rs 55,700 | Rs 81,000 |
Gold Rate Update: MCX saw a decline
The rupee’s exchange rate with the US dollar is one of the factors that impact the price of gold and silver in India. Global demand fluctuations have a substantial impact on precious metal price swings. Gold futures with a maturity date of August 4, 2023 were trading at Rs 59,734 per 10 grammes, down 0.58 percent from the previous day. Similarly, silver futures with a delivery date of September 5, 2023 lost 0.98 percent and were trading on the MCX at Rs 74750 per kg.
Gold Rate Update : IBJA Rates
According to the IBJA, gold is currently more expensive than it was yesterday. The price of gold has risen from Rs. 59505 per ten kilogrammes to Rs. 59567 per ten grammes. On the other side, the price of silver per kilogramme has risen from Rs. 73561 to Rs. 73860.
Check rates by giving 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.
Check the purity of 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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