There is new information for you if you are considering making an investment in gold. The Gold Price Today has been steadily rising over the past few days. After a minor drop, gold appeared stable a few days ago, but in just one week, it has now reached a new high. Investors have an opportunity here, but they are also facing financial difficulties due to the escalating costs.
Gold’s pace on MCX
The Multi-Commodity Exchange (MCX) has experienced the largest shift in gold prices. The Gold Price Today of 10 grams of 999 pure gold (expiring in October) was ₹1,07,728 on September 5. However, it rose to ₹ 1,09,356 per 10 grams by September 12. In other words, in just one week, the price of gold increased by ₹ 1,628. In addition, gold’s luster is growing on the home market.
IBJA data reveals
The price of 24 carat gold was ₹ 1,06,338 per 10 grams on the evening of September 5, according to the most recent data from the Indian Bullion Jewelers Association (IBJA). However, it hit ₹ 1,09,707 per 10 grams on September 12. In other words, the price of 10 grams of gold increased by ₹3,369 in just one week. Even though these prices are the same nationwide, you must also pay 3% GST and a manufacturing charge when purchasing jewelry, which raises the cost even more.
Gold rates in different cities
In numerous major cities around the nation, gold prices have been noted at varying levels. 24 carat gold now costs ₹1,11,300 every 10 kilos, while 22 carat gold costs ₹1,02,050 per tola in Delhi and Gurugram. 22 carats were priced between ₹ 1,01,900 and ₹ 1,01,950 in Mumbai and Ahmedabad, while 24 carats were priced between ₹ 1,11,170 and ₹ 1,11,200. In Chennai, 22 carat gold has already hit ₹ 1,02,200, while 24 carat gold has touched ₹ 1,11,710. Additionally, the rates in Lucknow and Kolkata stay quite constant.
What does it mean for investors and customers
Gold has long been seen as a secure investment. Investors look to gold whenever the economy or stock market is unstable. This explains why even a small fluctuation in the global market causes gold prices to fluctuate instantly. The Indian holiday season is currently approaching, which could lead to a further rise in demand for gold. If you’re considering purchasing jewelry, you should also be aware of the 3% GST and manufacturing fee. At the same time, the recent gold price increase gives investors hope that it will continue to rise in the upcoming weeks.
Disclaimer: The gold prices (Gold Price Today) given in this article are based on various sources and market reports. There may be a slight variation in prices according to cities. Before making any kind of investment, consult your financial advisor.
Also Read:
Govt Giving ₹3 Lakh Mudra Loan? PIB Busts Viral Claim with Big Revelation
State Bank Of India Increases Multi Option Deposit Limit: Now Secure Your Savings Over ₹50,000
Mahila Rojgar Yojana: Bihar Govt’s ₹10,000 Direct Cash Boost for Women Empowerment
