Gold Price update: The gold shopping on Diwali has crossed all the previous records on Diwali and Dhanteras. On Thursday gold became costlier by Rs 40 and silver by Rs 115.
After this rise, gold is selling near Rs 50800 and silver around Rs 56000. However, gold is still getting cheaper than its all-time high by Rs 5400 per 10 grams and silver at Rs 22000 per kg.
Gold and Silver rate on IBJA
The Indian Bullion Jewelers Association (IBJA) website reports that on the fourth Thursday (27 October) of current trading week, gold increased in price by Rs 40 per ten kilos and opened at Rs 50791. In contrast, gold increased in price by Rs 307 per ten grammes on Wednesday’s final trading day, closing at Rs 50751 per gramme.
On the other hand, silver increased in price today by Rs 115 per kg and started out at Rs 57966 per kg. On the other hand, on Wednesday’s final trading day, silver decreased by Rs. 1255 and concluded at Rs. 57851 per kg.
Gold Price and Silver Price in major cities
Delhi
22ct Gold : Rs. 47250, 24ct Gold : Rs. 51530, Silver Price : Rs. 58300
Mumbai
22ct Gold : Rs. 47100, 24ct Gold : Rs. 51280, Silver Price : Rs. 58300
Kolkata
22ct Gold : Rs. 47100, 24ct Gold : Rs. 51280, Silver Price : Rs. 58300
Chennai
22ct Gold : Rs. 47450, 24ct Gold : Rs. 51760, Silver Price : Rs. 63500
Hyderabad
22ct Gold : Rs. 47100, 24ct Gold : Rs. 51280, Silver Price : Rs. 63500
Bangalore
22ct Gold : Rs. 47150, 24ct Gold : Rs. 51430, Silver Price : Rs. 58300
Mangalore
22ct Gold : Rs. 47150, 24ct Gold : Rs. 51430, Silver Price : Rs. 63500
Ahmedabad
22ct Gold : Rs. 47150, 24ct Gold : Rs. 51430, Silver Price : Rs. 58300
Surat
22ct Gold : Rs. 47150, 24ct Gold : Rs. 51430, Silver Price : Rs. 58300
Nagpur
22ct Gold : Rs. 47130, 24ct Gold : Rs. 51310, Silver Price : Rs. 58300
Pune
22ct Gold : Rs. 47130, 24ct Gold : Rs. 51310, Silver Price : Rs. 58300
Bhubaneswar
22ct Gold : Rs. 46250, 24ct Gold : Rs. 50450, Silver Price : Rs. 61500
Chandigarh
22ct Gold : Rs. 47250, 24ct Gold : Rs. 51530, Silver Price : Rs. 58300
Jaipur
22ct Gold : Rs. 47250, 24ct Gold : Rs. 51530, Silver Price : Rs. 58300
Lucknow
22ct Gold : Rs. 47250, 24ct Gold : Rs. 51530, Silver Price : Rs. 58300
Patna
22ct Gold : Rs. 47130, 24ct Gold : Rs. 51310, Silver Price : Rs. 58300
Three reason for Gold investment:
The first is that gold prices would rise as soon as there was political unrest or economic catastrophe. Unfortunately, you would be depressed if you had not made an investment in the same. Gold is therefore an obvious choice if you need to spread out your investment.
Second reason for purchasing gold: It has been a great inflation hedge. For instance, gold prices in India have tripled during the past 8–10 years. You have received better returns from them than even fixed interest-bearing instruments, thus. There is therefore no need for you to refrain from investing in precious metal.
Third: The very fact that it is liquid. For instance, you may use this priceless metal as collateral for loans. Many people today are eager to purchase gold that has been hypothecated. So continuing to invest is not a bad idea. It cannot be disputed at all that it has withstood the test of time.
