Gold Rate Update: Prices of precious metals on an upswing, check the current rates in your city from Lucknow to Mumbai

Gold Rate Update: Gold has shown to be a very effective inflation hedge throughout time. For investors, gold is turning into a more crucial investment. We are merely providing our readers with the price of gold in India as information. These gold prices are up-to-date and were obtained from trustworthy local jewellers.

GOLD, SILVER PRICES IN MAJOR CITIES

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 59,670 per 10 grammes on the MCX, up 0.47 percent. Silver futures, which mature on September 5, 2023, rose by 0.58 percent and were trading at Rs 74375 per kg on the MCX.

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 impafct 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. 59583 per 10 kilogrammes to Rs. 59451 for 10 grammes. The cost of silver per kilogramme has grown from Rs. 74428 to Rs. 74288 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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