Gold Rate Update: Prices of yellow metal shoots up, silver decrease, check current rates in your city

Gold Rate Update: Interest rates, global demand, currency exchange rates, and governmental regulations are factors that influence gold prices. Additionally, the price of gold on the MCX has increased. The price of gold will rise if the rupee depreciates versus the US dollar. Gold can be exchanged as bars, coins, bullions, jewellery, exchanges, ETFs, and other forms. It is regarded as a reliable and secure investing strategy that serves as an inflation buffer. Most of the gold imported into India is used in the jewellery industry. The Multi Commodity Exchange (MCX) saw a decline in silver prices as well.

GOLD AND SILVER PRICES IN MAJOR CITIES

Gold Rate Update: What’s up on MCX?

The rupee’s exchange rate with the US dollar is just one of several variables that affect the price of gold and silver in India. Global variations in demand have a big impact on how much the price of precious metals swings. Gold futures with an expiration date of August 4, 2023 were trading at Rs 59,421 per 10 grammes after seeing a minor 0.00 percent profit. On the other hand, silver futures on the MCX with a delivery date of September 5, 2023, decreased by 0.16 percent to trade at Rs 71153 a kg.

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.

Also Read: Gold Rate Today: Price of yellow metal rises to the seventh heaven while silver halts. These are the prices from Delhi to Bangalore

Gold Rate Update : Checkout the gold rates on IBJA

IBJA asserts that the price of gold has decreased since yesterday. From Rs. 59345 for 10 kilogrammes to Rs. 59327 for 10 grammes, the price of gold has decreased. On the other side, the price of silver per kilogramme has dropped from Rs. 71925 to Rs. 71848.

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.)

Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER