gold rate

Gold is one of the most purchased precious metals in India. Traditionally, Gold has been used in auspicious occasions and used as a store of value and medium of exchange.

Daily gold prices can be checked at India’s largest commodity derivative, the Multi Commodity Exchange (MCX), which trades on weekdays in two sessions. COMEX is another such platform for trading futures contracts.

Rather than the availability and demand for physical gold, the gold prices are mostly influenced by trading activity in the London Over-the-Counter (OTC) spot gold market and the COMEX gold futures market.

The precious metal is widely seen as a safe-haven asset, which means it is considered a good investment during turbulent times. Many still prefer purchasing gold compared to riskier assets such as equities.Gold is seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. That’s why even central banks find refuge in gold during volatile times.

The gold and silver prices in India depend on several factors, including the value of the rupee against the dollar. Global demand also plays a key role in determining the trends observed in the rate of precious metals.

You can check prices of both standard gold (22 karat) and pure gold (24 karat or 999) here.