Gold is a valuable metal from the ages. As it is traded in the bullion markets the live rates which are today are different tomorrow. Common people and businesses invest in this precious yellow metal as it is considered safe. To check today gold rate in India on 11 th June 2020, you could use the internet or google it and you will get the updated price or you can get the new daily price from the known jewellers.
As the gold is categorized into 22 Karats and 24 karats the rates will vary. India is a populous country in which this precious yellow metal is widely used by both men and women for ornaments.
24k Gold price live chart (Updated on 11th June 2020)
|Grams||24 Karat Price Today||24 Karat Price Today|
|1 gm||Rs 4695||Rs 4600|
|10 gm||Rs 46950||Rs 46000|
|100 gm||Rs 469500||Rs 460000|
22k gold price live chart (Updated on 11th June 2020)
|Grams||22 Karat Price Today||22 Karat Price Yesterday|
|1 gm||Rs 4595||Rs 4500|
|10 gm||Rs 45950||Rs 45000|
|100 gm||Rs 459500||Rs 450000|
How are gold prices fixed in India?
The gold price is influenced by several factors that include domestic and international business and trading environments.
- Currency and Forex: When the rupees fall against the dollar, the gold in India could become expensive as it is imported by paying in dollars.
- International developments: This is the one common factor that could highly contribute to fixing today gold rate. Economic trends, trade policies, global pandemic like coronavirus, the war between nations and strong dollar value are the international factors.
- Global and regional demand: When gold buying demand increase the price will increase and it gets cheaper when the consumers don’t show interest.
- Interest rates: The precious yellow metal rate is linked with the US bank interest rates. When the interest rate in this country increase, gold price decreases and vice versa.
- Government policies: Importing Gold to India from the other countries costs valuable foreign reserves to the Government. So it discourages buying gold by increasing the import fee and taxes which makes gold price costly.
- Local Gold Buying Trends: In India, the gold price is gradually increasing year on year. In the season of festivals and marriages, the precious yellow metal price will increase and it relaxes after demand slows down.
Gold is a valuable metal and its worth is recognized by the kings, that is why it is used for buying and selling. We can see from the trends that the gold price increasing on a regular basis. We often see the rate fluctuating but those or for short terms. In the long run, gold price increases and this is an opportunity for people who are looking for safe investments with high returns.
Technical charts give us the insights of the gold rates in India and around the world.
How you buy Gold in India ?
Indians love gold and it is evident from the import data. Rather than as a trading commodity or as an investment, people make jewellery from the precious yellow metal. Lakhs of shops across India sell gold biscuits and jewellery. It is pretty much easy to buy Gold in India and a simple search on Google will show Gold rate today which will help you to negotiate the price and might get you a good deal.
How do Indians use Gold ?
The majority of the population use this precious yellow metal for golden jewellery. The importance of gold in Indians lives is such that even newborn babies are gifted with gold jewellery. Women often love to flaunt their latest gold jewellery designs in front of relatives and friends and we often see them discussing the price. Men prefer to wear the gold bracelet, chain or a finger ring.
Marriages, occasions and festivals are the preferred events to buy gold in India. Every family buy it according to their need and budget. Some shops give discounts on making charges and other services to their loyal customers. Both the organised and the unorganised jewellery business flourish with the huge sales on Akshaya Tritiya which is considered an auspicious day to buy gold in India. The Gold rate plays a factor in buying quantity.
How money is invested in Gold in India ?
India is no different from the world when it comes to Gold investment. The ever increasing gold rate makes it a lucrative investment in India. As it considered a guaranteed safe investment many corporates, rich and middle class individuals invest their money in Gold. Today gold rate in India will determine the returns. As this precious metal is traded daily and is subjected to price fluctuations many people hold it for a longer period.
Gold coins and biscuits are the preferred mode of investment for individuals. For corporates and businesses, digital methods like ETF’s and Gold Mutal Funds are the preferred choice of investments as they do not require physical space for storage.
Where do individuals store the gold in India ?
Individuals who buy gold for investment or for jewellery prefer to store them in bank lockers. As getting a bank locker nowadays has become expensive and difficult people are buying safe digital lockers to keep their gold. To overcome this problem more and more people are preferring to save in the digital gold wallets. Many websites and apps are offering these services but invest or save only in the Government recognised e-gold wallets which can safeguard you from frauds and cheating.
Here we come with daily updated gold price in India for better deals.