New Delhi: Looking to buy gold? There’s a glimmer of hope! Gold prices in India witnessed a slight decline on Tuesday, March 12, 2024, after a steady rise over the past four days.
Key takeaway: Ten grams of 24-carat gold has become slightly cheaper, dropping to ₹65,616. However, silver prices saw a minor increase.
Relief for gold enthusiasts: This news comes as a welcome respite for potential buyers, especially women, who have been closely monitoring the rising gold prices in recent weeks. While prices remain above ₹65,000, this dip might signal a potential downward trend in the coming days.
Current Gold Prices in India (as per IBJA):
| Carat | Price per 10 grams (₹) | Change |
|---|---|---|
| 24 | ₹65,616 | ₹ -30 |
| 22 | ₹60,103 | – |
| 18 | ₹49,211 | Up from ₹48,104 |
| 14 | ₹38,384 | Up from ₹37,376 |
Silver Rate:
- ₹72,766 per kg (slight increase)
City-wise Price Variations:
| City | 24 Carat (₹) | 22 Carat (₹) |
|---|---|---|
| Mumbai, Kolkata, Hyderabad | ₹66,260 | ₹60,740 |
| Delhi, Bengaluru | ₹66,410 | – |
| Chennai | ₹67,090 | – |
What this means:
While the overall drop is minimal, it indicates a potential shift in the gold price trend. This could be an opportune moment for those considering buying gold for personal use or investment purposes.
Remember: Gold prices fluctuate based on various factors like global market trends, currency exchange rates, and local demand-supply dynamics.
Additional factors to consider:
- Making charges: These vary depending on the jeweler and the type of gold ornament.
- Purity: Always ensure you purchase gold from a reputable jeweler who offers certified gold.
- Long-term investment: Gold is traditionally seen as a hedge against inflation. However, expert advice is recommended before making any investment decisions.
Looking ahead:
Market analysts are cautiously optimistic about a potential further decrease in gold prices in the coming days. However, staying updated with market movements and consulting financial advisors is crucial before making any significant purchases.
It is noteworthy that you can see these gold rates very easily sitting at home. To know the price of gold, you have to give a missed call on this number 8955664433 and a message will come on your phone, after which you will be able to check the rates.
