India is a vast country in the world by area and also a large consumer of gold. It has a vast population of 1.2 billion people. India’s official currency is Indian Rupee. The Gold rate in India fluctuates every single day of every year.
If you want to buy or sell or mortgage gold, then you will get prices in Indian currency only, gold is mainly sold and measured in the kilo, gram and ounce. The wedding season turns the demand for the gold to the highest. Gold bars contain the best value for gold bullion.
Determining Factors Of Gold Rate:
Some Possible Factors Determine The Gold Rate Are
- If the value of Indian rupee decreases against the US Dollar, the price of gold per gram increases
- If the RBI hold paper currencies, gold in reserve
- Due to the global movement occurs, the import prices change
- When the interest rates decrease the gold rate increases
- If the demand for gold increases, the rate of gold also increases.
All the time, gold is a good investment option. there are some options, how you can invest in gold is presented:
- Gold ornaments as a necklace, earrings, etc., bars, coins are the best way of investment.
- Gold coins of different weights from 1 to 10 grams or more are also a good option of investment because there are no making charges included. So no extra money will be invested.
- Gold bullion bars are another option of investment. It contains 1kg and 99.50% pure. Its price is less than the gold bullion coin.
Read More – How to Apply for SBI Gold Loan? Schemes, Interest Rates, Eligibility Criteria
Gold Rates:
The demand for gold is increasing. It is not only auspiciously high, but gold is a sign of prestige and pride. Gold rate in India fluctuates due to market conditions. In the year 1965, the price of 10 grams of gold was 71.75. Now it has hugely increased.
The Gold Rate in India of the year 2019 has been discussed here,
In terms of the lowest price and the highest amount of 24-carat gold that is (rupees per 10 grams) are-
- In January, the price was 32,050 and 33650
- February, it was 32,530 and 34,060
- March, it was 32,210 and 34,660
- April, the rate was 31,920 and 32,310
- In May, the amount was 31,700 and 32,480
- In June, it was 30,620 and 33,660
- July, the price was 32,200 and 34,600
- August, it was 33,800 and 37,950
- September, the amount was 37,500 and 38,880
- In October, it was 37,250 and 38,800
- In November 2019, the gold rate in the first week was 30,890, in the second week, the highest rate was 30,892, and the lowest rate was 30,817. In the third week, the highest was 30,827, and the lowest was 30,812.
- So, in November, the highest and the lowest performance in India is 30,892 and 30,803.
- So the overall performance has declined.
Conclusion:
This is the high time to invest in gold. The gold is a perfect source for investment. From the year 1975, the gold rate in India has risen its peak till 2019. The fluctuations of the scales in the global market have forced to import gold at a considerable price. Investors have always found gold as a perfect investment. In the expectation of a low range of gold in the upcoming years, it indicates that the gold price is increasing from the previous years. Gold is, of course, a safe investment for years.
