Monday, May 29, 2023

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GOLD PRICE UPDATE: Gold rises marginally ahead of Dhanteras; check here the latest price

GOLD PRICE UPDATE: Gold is at Rs 4,700 per gram in India. Gold price in Delhi has been seeing some momentum, since the start of the year. This is because; equity markets took a beating at the start of the year, which pushed investors to invest in safe haven asset like gold.

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.

Gold Price in India (22nd October 2022)

Gold has over the years been a perfect hedge against inflation. Investors are increasingly looking at gold as an important investment. Goodreturns (OneIndia Money) is providing gold price in India herewith for our readers informational purposes only. These gold rates are updated today and are sourced from reputed jewellers in the country.

Today 22 Carat Gold Price Per Gram in India

Gram 22K Today 22K Yesterday

1 gram ₹4,700  ₹4,625

8 gram ₹37,600 ₹37,00

10 gram ₹4700 ₹46,250

100 gram ₹4,70000 ₹4,62,500

Today 24 Carat Gold Rate Per Gram in India

Gram 24K Today 24K Yesterday

1 gram ₹5,128  ₹5,045

8 gram ₹41204  ₹40,360

10 gram ₹51280  ₹50,450

100 gram ₹521800  ₹5,04,500

On Friday, gold get cheaper by Rs 373, Where as a decrease of Rs 467 is being seen in the price of silver. After this fall, gold is selling below Rs 50000 and silver Rs 56000. Along with this, gold is getting cheaper by about Rs 6300 per 10 grams and silver by about Rs 24,500 per kg from the all-time high.

Is sovereign gold bond a good investment?

The SGB has the Sovereign Guarantee of Government of India regarding quality of gold, safety, interest payment and return of investment in the prevailing gold prices at the time of maturity. So, there are no risks involved in investing in SGB.

The redemption price for SGB 2017–18 Series IV due on October 21, 2022 will be Rs 5,028 per unit of Sovereign Gold Bond (SGB), according to RBI. On October 20, 2022 the RBI has made this announcement through a notification.

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