Gold prices in India recorded a sharp jump as high as Rs 5,500 on March 8, during the occasion of Women's Day. On Saturday, major jewellers are offering sharp discounts and deep cuts in their making charges for Women's Day. In top metro cities, the cheapest 24K and 22K gold per 10 grams is offered in Mumbai, Hyderabad, Bangalore, Kerala, Kolkata and Pune among others. The performance also comes after international gold prices surged to record highs after weaker-than-expected jobs data in the USA. Trump tariff and its impact continue to be in focus.
Gold Prices In India:
24K Gold Prices: 100 grams gold price surges by Rs 5,500 to Rs 8,77,100, while 10 grams gold is up by Rs 550 to Rs 87,710. 1 gram of gold here is at Rs 8,771 up by Rs 55.
22K Gold Prices: 100 grams of gold climbed by Rs 5,000 to Rs 8,04,000, and that of 10 grams of gold higher by Rs 500 to Rs 80,400. 1 gram gold is priced at Rs 8,040 up by Rs 50.
18K Gold Prices: Under this carat, 100 grams gold price surged by Rs 4,000 to Rs 6,57,800, while 10 grams gold price is up by Rs 400 to Rs 65,780. 1 gram gold price is at Rs 6,578, up by Rs 40.
Gold Prices In Major Cities:
Gold Prices In Chennai: Per 10 grams gold price is at Rs 87,710 in 24K, at Rs 80,400 in 22K and at Rs 66,300 in 18K.
In the above-mentioned cities, 10 grams of gold is available at Rs 87,710 in 24K, while the prices are at Rs 80,400 in 22K and at Rs 65,780 in 18K.
Gold Prices In Delhi: In the national capital, 24K gold per 10 grams is available at Rs 87,860, while the prices are at Rs 80,550 for 22K and Rs 65,910 for 18K.
In these two cities, the 24K gold price is at Rs 87,760 per 10 grams, and the prices are at Rs 80,450 in 22K and at Rs 65,830 in 18K.
Silver Prices In India:
Silver prices did not see any changes on Saturday. 1Kg silver is priced at Rs 99,100 in India. However, in cities like Chennai, Hyderabad, and Kerala, the prices are at Rs 1,08,100 per 1Kg.
Looking ahead, the World Gold Council's report said, rising inflation expectations, lower rates, and continued geo-economic uncertainty are playing in gold's favour.
Why Invest In Gold?
As per Axis Max Life Insurance's website, gold investment in India can be the ideal investment option for risk-averse investors. The most significant advantage of investing in gold is that it has little correlation with other types of assets. Hence, it can act as a buffer to your volatile portfolio.
Here are some of the key benefits of investing in gold as per Axis Max Life Insurance:
1. Beats Inflation: Gold is perhaps the only option that retains its value and helps beat inflation. This is because the value of gold increases with the cost of living and often reaches its highest during high inflation periods.
2. Portfolio Diversification: The value of gold is inversely proportional to traditional investment options such as stocks. This way, gold investment in India can act as a safety net against the volatility of markets.
3. Liquidity: Gold is extremely liquid and offers investors an option to trade it during an emergency or when they need cash. The constant demand for this precious metal ensures that it is easy to sell during the most testing times.
4. Crisis Commodity: Gold is sometimes referred to as the 'crisis commodity' due to its ability to retain its value in the worst of times. Gold can survive both geopolitical and financial uncertainties, and that is why most countries have huge reserves of gold to combat any situation.
5. Returns: The history of gold shows that this precious metal can beat inflation. Regardless of the situation of the market, gold has always seen a rise. Gold investment in India has always brought returns.
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