Gold Rate Update: Both the price of gold and silver have fallen on the Multi Commodity Exchange (MCX). Gold has shown to be the best inflation hedge throughout time. More and more people are beginning to regard gold as a serious investment. The most recent gold prices were acquired from reliable jewellers all throughout the country and are updated every day. Currently, the price of gold in India is Rs. 5,540 for 22k and Rs. 6,044 for 24k, commonly known as 999 gold.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 55,550 | Rs 79,900 |
| MUMBAI | Rs 55,400 | Rs 79,900 |
| KOLKATA | Rs 55,400 | Rs 79,900 |
| CHENNAI | Rs 56,100 | Rs 82,000 |
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. Gold futures with an August 4, 2023, maturity date were trading at Rs 59290 per 10 grammes on the MCX, down just 0.44 percent. Silver futures, maturing on September 5, 2023, saw a surge similar to that of gold, which decreased by 0.40 percent, and were trading at Rs 75146 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
According to IBJA, gold is now costing less than it did yesterday. From Rs. 59908 per 10 kilogrammes to Rs. 59863 per 10 grammes, the price of gold has decreased. On the other side, the price of silver has increased from Rs. 75686 to Rs. 75768 per kg.
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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