What are the current gold rate


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As India is the world's largest consumer of gold, it also has a huge market for gold and gold jewellery (nearly 20-25% of total world consumption). Gold, trendy jewelry, gold coins or gold bars are bought by people. Investments and traders interested in commodities trade are also consumed, often investing in gold bullion. According to an Indian perspective, gold has often been considered to be the best investment. This gold estate as a protector against difficult times led Indians to buy it as an investment.

The gold rate today is affected by various factors, including demand and supply, worldwide market scenarios, the strength of the US dollar and so on. In addition, in different cities throughout India, gold prices differ. The gold price in different cities depends on various factors like taxes, demand, carriages, local associations, etc.

The Indian Gold Rate fluctuates regularly, and its price in a given place on a given day is determined by different factors. Demand and supply, global market conditions and currency fluctuations are some of the key elements in a country's gold rate decision, with prices changing every day.

The table below shows the rate of 1 gm, 10 gm and 100 gm 22 carat gold rate:

Gram

22 carat gold

1 gm

Rs. 4,600

10 gm

Rs. 46,000

100 gm 

Rs. 4,60,000

Delhi, the capital of the country, is also among the country's biggest gold consumers. Gold has always been a stable commodity used as jewellery throughout the whole history of Delhi, minted as coins and also marketed as pure gold bars. Gold rate in Delhi is influenced by different factors with global implications. Delhi has an extensive buyer base for gold and related products, most of which are physical gold followed by trade.

May 1st Week (2021):

  1. In Delhi, the price of gold on 1 May was 4,956 rs. per gram and on 3 May slightly decreased to 4,977 rs. per gram due to positive market trends. On 4 May, the price of metal increased by a weak dollar trend, up to Rs.4,998 per gram.

  2. The price of the metal rose marginally and peaked at 4.999 rs. per gram on 5 May. On the next day, however, golden rates decreased on 6 May to Rs.4,974 per gram.

  3. Golden prices closed at the end of the week at Rs4,975, which recorded a weekly overall incline.

Since the beginning of the year, gold prices in Delhi have seen momentum. Because at the beginning of the year, equity markets pushed investors to invest in safe-haven assets, such as gold. In recent years, precious metal may not have been a favorite because prices have moved in a narrow range. At the beginning of the year, a fall in share prices saw gold as an investment and attraction.

Today’s Gold rate in Delhi:

Gram

22 carat gold rate today

1 gram

Rs. 4,693

10 gram

Rs. 46,930

100 gram

Rs. 4,69,300

 

CONCLUSION:

India is the biggest producer of gold in the world, accounting for almost a quarter of global demand. It has long maintained its status; India mainly uses gold for jewellery and investment. It is considered a reliable option for investment, and even traders invest in gold. In general, these investments are determined by the gold prices currently present in the economy. Gold is also seen as a safe way to invest, although it is not a good idea to invest in a country's economy.

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