GOLD PRICE UPDATE: One can purchase gold anytime in India that depend on the need. But Diwali is always considered as one of the best time for gold investment. However, gold investments have always endured. In fact, during the past eight years, costs have more than tripled. This makes investing in gold more appealing. Additionally, it is quite liquid and is simple to sell. There are companies that offer gold loans, allowing you to borrow money while pledging gold. Therefore, investing in gold is always a wise move.
GOLD: Safe haven asset
It is advisable to use caution if you are an investor. Over the past few years, gold hasn’t produced very impressive returns. Therefore, it is recommended to just buy as a diversification strategy. Gold would increase in value if any other asset type, such as stocks or real estate, fell. This is due to the fact that it is seen as a safe haven asset. However, distribute the risk among many asset classes rather than putting all your eggs in one basket. In any event, there are quite organised and systematic ways to purchase gold in India.
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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.
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.
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 ₹4,625 ₹4,635
8 gram ₹37,000 ₹37,080
10 gram ₹46,250 ₹46,350
100 gram ₹4,62,500 ₹4,63,500
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Today 24 Carat Gold Rate Per Gram in India
Gram 24K Today 24K Yesterday
1 gram ₹5,045 ₹5,056
8 gram ₹40,360 ₹40,448
10 gram ₹50,450 ₹50,560
100 gram ₹5,04,500 ₹5,05,600
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.
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