Gold Rates In India Are Once Again Falling Sharply: Where To Invest?

Gold rates in India are once again falling sharply, by Rs. 400/10 grams, as the US Fed is expected to hike the interest rate soon. Additionally, today the US Bureau of Labor Statistics stated that 467,000 jobs were created in January, which has beaten the expectation of around 110,000. With this growth in the US job market, the US Dollar index has also gained marginally today. So, international gold rates did not gain much. The yellow metal, however, stayed steady above the critical psychological level of $1800/oz level today.

Global gold rates are only marginally bullish now. According to a Kitco News news, which has mentioned StoneX report, "A weaker U.S. dollar and increased geopolitical tensions will keep gold supported this year, with the precious metal rising to $1,900 in the 4th quarter,. But a year of "boring prices" does not mean "a boring market." This year, the gold price will take its cues from the Federal Reserve policy action, the U.S. dollar direction, and geopolitical tensions."
India imports gold from international markets to meet domestic demands. So, Indian gold rates directly depend on global rates and domestic custom duty. However, in the last budget, the union government has reduced the custom duty. So, gold rates can further drop in India. With a falling gold rate, investors can either go for physical gold like gold jewelleries, but there are also opportunities for gold ETFs and digital gold. These two kinds of gold investments can be chosen to save the making charges and to avoid the storage cost. Additionally, RBI Sovereign gold bonds are also a good gold investment option.
On February 4, 2022 gold prices in India have fallen by Rs. 400 and Rs. 450/10 grams, for the 22 carat and 24 carat gold, respectively. Today, 22 carat gold prices are quoted at Rs. 45,100/10 grams, and 24 carat gold rates are quoted at Rs. 49,200/10 grams, in the country.
Gold rates are quoted differently, daily. Today's gold rates in major Indian cities follow:

The Comex gold futures gained by 0.14% and were quoted at $1805.50/oz, till last traded. On the earlier day, Comex gold futures closed at $1803.00/oz. The spot gold prices were quoted at $1808.10/oz, gained by 0.14%, till last traded. The US dollar index in the spot market stood at 95.27, falling by 0.10%. However, in India, the MCX gold in April future quoted at Rs. 47,950/10 grams, gained by 0.07%, till last traded.