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Trend of Gold Rate in India for last 10 days



Date24 Karat Gold Rs / 10 gm22 Karat Gold Rs / 10 gm

31st August 2021 Rs. 47,144.00 Rs. 46,143.00

30th August 2021 Rs. 47,270.00 Rs. 46,267.00

29th August 2021 Rs. 47,270.00 Rs. 46,267.00

28th August 2021 Rs. 47,250.00 Rs. 46,267.00

27th August 2021 Rs. 47,306.00 Rs. 46,321.00

26th August 2021 Rs. 47,334.00 Rs. 46,349.00

25th August 2021 Rs. 47,502.00 Rs. 46,518.00

24th August 2021 Rs. 47,054.00 Rs. 46,080.00

23rd August 2021 Rs. 47,082.00 Rs. 46,111.00

22nd August 2021 Rs. 47,082.00 Rs. 46,111.00

India is one of the largest consumers of gold in the world. Buying gold has traditionally been an emergency fund, a tool to tide over financial emergencies. India uses gold mainly in the form of ornaments and investments. This yellow metal is considered to be an important part of an investor’s investment portfolio for a number of reasons. Even commodity traders, invest a part in gold bullion. Gold rates in India are affected by a wide range of factors such as global production, prevailing market conditions and the strength of the currency.

Gold Price Chart: How Gold Rate is moving in India?

Gold Price History of Last 4 Months

Gold Price Trend in July 2021
Trend24 Karat Gold (Rs/10gm)
Rate on 01-July-202147,356.00
Rate on 31-July-202148,294.00
Highest Rate48,318.00
Lowest Rate47,356.00
Month PerformanceDecline
% Change-1.98 %
Gold Price Trend in July 2021
Trend24 Karat Gold (Rs/10gm)
Rate on 01-July-202147,356.00
Rate on 31-July-202148,294.00
Highest Rate48,318.00
Lowest Rate47,356.00
Month PerformanceDecline
% Change-1.98 %
Gold Price Trend in May 2021
Trend24 Karat Gold (Rs/10gm)
Rate on 01-May-202147,165.00
Rate on 31-May-202147,165.00
Highest Rate47,165.00
Lowest Rate47,165.00
Month PerformanceRising
% Change0.00 %
Gold Price Trend in May 2021
Trend24 Karat Gold (Rs/10gm)
Rate on 01-May-202147,165.00
Rate on 31-May-202147,165.00
Highest Rate47,165.00
Lowest Rate47,165.00
Month PerformanceRising
% Change0.00 %
Also Check For:

Gold Rate Today : Hyderabad | Kerala | Mumbai | Delhi | Bangalore | Pune | Kolkata | Chennai

Silver Rate Today : Bangalore | Hyderabad | Delhi | Chennai | Mumbai | Ahmedabad | Jaipur

How is the Gold Rate determined?

The gold price is determined by the combination of various factors, such as demand, supply, investor behaviour, Multi Commodity Exchange (MCX) index, commodities market and many other financial factors. Further discussed are some reasons for the gold rate fluctuations in India.

Why gold rate fluctuates in India?

There are a number of factors which cause gold rates in India to fluctuate. Some of the factors have been discussed below:

  • Demand-Supply equation: Global demand for gold is 1000 tonnes more than its supply. On the flip side, even with constant demand, the gold rate today might be different than it was yesterday due to supply issues. Like mentioned above, gold demand is more than its supply and with no new mining capacity coming through, most of the gold is being recycled. If one of the largest gold mining companies such as Rio Tinto, decides to decrease production, the current gold rate worldwide will see a surge. On the other hand, if a central bank decides to start liquidating their gold assets, the increased supply would cause the gold rate in Delhi and other states across India to drop.

  • Global production cost: The gold rate today in India is significantly affected by the cost incurred to mine yellow gold. If the production cost increases then mining companies will charge higher gold price at the time of selling and this will impact the overall global gold prices. You can easily use a gold price chart to understand how the increase in production costs has impacted the price of gold rate in India.

  • Industrial uses: Gold is used in many industrial applications such as circuit boards, in mobile, GPS and in various other medical devices. As our consumption of cutting-edge products increases, so does the demand for gold which ultimately affects the gold rates to go up.

  • Rupee-dollar equation: Performance of the US dollar highly influences the gold rates in India. Since our country imports around 900 tonnes of gold annually, a falling dollar will likely appreciate the price of gold in rupee terms and vice versa.

  • Global crises: Due to global crises, investors lose confidence in stock market investments and instead prefer to invest in stable and precious gold. This results in high demand for gold which results in an increase in gold rates.

  • Inflation rate: Due to the surge in the inflation rates, the value of our currency goes down. This is when most people tend to hold money in the form of gold due to its ability to hedge against financial and economic crises. This increases the demand for gold which increases the gold rates in India.

  • Interest Rates: Investments made in gold do not usually offer any interest benefits. An exception is the Government of India’s Sovereign Gold Bonds which offer 2.50% fixed interest annually. When the RBI hikes interest rates, people start selling gold to invest in bank deposits and government bonds. This causes the demand for gold to fall which also causes the price to dip.

Why are Gold Rates different in different cities of India?

Gold prices slightly vary from city to city in India due to the following reasons:

Transportation/ hauling cost: The cost of safeguarding and hauling cost of gold is expensive and is added to the sale price which further impacts gold rate in different cities of India.

Bullion Association: Prices of gold also differ on account of different jewellery associations in India. Bullion or jewellery associations are responsible for regulating the gold prices on a daily basis which is done twice in a day. The gold prices are calculated by taking international gold prices at that particular time plus incurred cost which leads to the variation of prices in different cities.

How to Invest in Gold?

Gold is considered a perfect portfolio diversification tool; a tool to tide over financial emergencies. There are two ways to invest in gold:

  1. Paper Gold: An Investor has an option to use gold exchange traded funds (ETFs) and sovereign gold bonds.
    • Gold ETFs: ETFs are similar to index mutual funds but they are traded just like stocks. It is similar to buying an equivalent sum of physical gold but without having to store the physical gold.

      How to get started with Gold ETF?

      Such investments (buying and selling) happens on a stock exchange, NSE or BSE, with gold as the underlying asset. To get started with the gold ETFs, you need a trading account with a stock broker and a demat account. The investor has the option to either invest in lump sum or even at regular intervals through systematic investment plans (SIP). When you want to sell the ETFs, you can sell it on your trading interface like any other equity.

    • Sovereign Gold Bonds: They are issued by the RBI and are listed on the National stock exchange and the Bombay Stock exchange. The tenor of the bonds is 8 years with the exit option available after the 5th year. Investing in SBGs helps you earn an assured interest rate where the interest will be credited semiannually to your bank account. They are denominated in multiples of 1 gm of gold and the maximum one can invest in is 4 Kg.

      How can I buy Sovereign Gold Bonds?

      These bonds are bought from banks, stock exchanges, designated post offices, etc. and their availability is notified by them. The interest rate and price will be notified by the RBI at the time of issuance. One can buy SGBs through banks as well. SBI and ICICI are few banks where one can invest in these bonds by logging in their website.

      How to sell Sovereign Gold Bonds?

      The maximum tenor of SGB schemes is 8 years. However, if one wants to encash and redeem the bond, one can do so after 5th year from the date of issue. If it is held in demat form, it will be tradable on exchanges or else it can be transferred to any other eligible investor. The interest and redemption proceeds will be credited to the bank account

  2. Digital Gold: Another way of investing in gold is through Digital gold where one can get started from as low as Rs.1. Many mobile wallets offer digital gold however the fineness and purity differs. Digital gold offered by MMTC-PAMP is 99.9 percent pure whereas SafeGold offers 99.5 percent purity.

    Where can I buy digital gold?

    Mobile wallet platforms such as Paytm, Gold Rush (offered by the Stock Holding Corporation of India), Me-Gold launched by Motilal Oswal allows consumers to purchase gold coins and jewellery online. All of these mobile applications are associated with MMTC-PAMP.  However, one should note that investing online using these mediums won’t earn you any interest unlike other options such as gold bonds, etc.

  3. Mutual funds which further invest in gold ETFs: There are gold MFs (fund of funds) which invest in the shares of international gold mining companies. Gold, also known as Gold Funds on Funds, are open-ended funds that invest in gold ETFs. Investors can invest any particular amount of money at any time. The process of investing in gold mutual funds is somehow easier as you do not need a demat account. Investors can also use the SIP route to invest in gold funds, which is not possible with gold ETFs. Gold mutual funds also closely relate and track the actual price of gold. However, the cost of asset management is slightly higher (it currently stands at 1.5%) and this sometimes lowers the returns.

Gold Saving Schemes

Many jewellers have been offering gold jewellery saving schemes that helps buyers to save systematically for the chosen tenure and buy gold when the term ends. The buyer needs to deposit a fixed amount every month for the chosen tenure and the jeweller on the other hand will add a month’s installment at the end of the tenure as a bonus. After the end of the term, you can buy gold from the same jeweller at a value which is equivalent to the total money deposited, including the cash incentive.

So, if you invest Rs.5,000 a month, after 11 months you would have invested Rs.55,000 in the scheme and the retailer will either add Rs.5000 or an amount equal to 75% of the last installment. This way you will be able to buy jewellery worth Rs.60,000.

Note: The quantity of gold you can buy depends on the gold price prevailing on maturity.

Here are few gold savings schemes you can invest in:

  • Tanishq Golden Harvest
  • GRT Golden Eleven Flexi Plan
  • Jos Alukkas Online Easy Buy Gold
  • Golden Gain Plan From Malabar Gold
  • Jos Alukkas Easy Buy Gold Purchase Plan

Note: There are other gold saving schemes available in the market. However, if you wish to buy into such schemes, stick to reputed jewellers and make sure they are regulated under the Companies Act.

Why Should I invest in Gold?

Listed below are some of the reasons why one should have gold in their investment portfolio:

  • Many investors add gold in their portfolio because of its ability to hedge against inflation and devaluation of the currency when other asset classes are not able to perform well.

  • In case of financial emergency, one can bank upon physical gold as one can liquidate gold faster if compared with other physical assets. Even if one have Sovereign Gold Bonds, they can be redeemed. Before liquidating your accumulated gold remember that the redemption amount in the case of physical gold depends on its purity, denomination, market price, etc. And in case of paper gold such as gold ETFs, the gold price at the day of redemption will determine the amount you will get on your investment.

  • It is seen that gold retains its value not only in times of financial uncertainty but in times of geopolitical uncertainty as well. It is seen when world tensions are on the rise, people start parking their funds in gold.

Note: Financial planners suggest one should consider investing in paper gold such as gold exchange traded funds, sovereign bonds instead of physical gold as they are more cost-effective and offer more liquidity. But one might wonder how much gold should investors add in their portfolio? Portfolio allocation analysis suggests one to hold between 2% to 10%.

How to buy Gold?

It depends in which form you want to buy gold in.

Gold coins: Gold coins can be bought from jewellers, banks, non-banking finance companies and now even from e-commerce websites such as Amazon India, Paytm,etc. where one can buy gold coins online and get the coins delivered at home

Jewellery: Physical gold can be bought from a jewellery shop or through their online portal or other websites such as caratlane.com or Bluestone.com

How to sell gold?

You can sell gold bars and gold jewellery by taking it to the nearest and reputed jewellery shop. However, do take your bill or invoice along with it and the jeweller will give you the cash for gold depending on how much it is worth and its purity.

Physical gold or Sovereign Gold or Gold ETFs – Which one is better and why?

We Indians love possessing gold in the form of jewellery. However, owning it in this form has its own concerns about safety, high making charges which can’t be recovered, and design that can become outdated.

Sovereign Gold Bonds and Gold ETF are cost effective. While Sovereign gold bonds mature after 8 years, the lock-in period ends from the 5th year; thus, making it beneficial for those who want to invest in for a longer period. In case one is looking for liquidity, a gold ETF is a better option as owing units are much easier than bonds. Below is the comparison on the basis of the certain parameters:

ParametersPhysical GoldGold ETFSovereign Gold
How to buyEasy to buy physical gold as one can buy in the form of jewellery, gold biscuits, coins either online or from banks or from online portalsNeed to have a demat and trading account to buy Gold ETF from the exchangeIssued by RBI on the behalf of government of India and availability is notified by them
Investment limitNo limit1 gram- No limit1 gram-4 KG
Taxation benefitIf you sell your  gold after holding it for three years,  long term capital gains is applicable and are taxed 20% with indexation benefit20% capital gain post indexation, if you hold it for more than 3 yearsCapitals gains tax has been exempted for an individual on redemption after 5 years
Storage CostCan be high if keeping in the lockerLow as it is held in demat form but other charges such as fund management charges and broker cost are applicableVery low as the bond is issued by the RBI
Lock in periodNoNo5 years

Note: It is suggested to get clarity as to why you need to invest in gold is it for marriage purpose or for pure investment. For investments, one should not have more than 10 percent of the total portfolio in gold.

How to trade in gold in India?

Gold is one of the key commodities that are being traded in three commodities exchanges- National Multi Commodity Exchange of India, Multi Commodity Exchange of India, and the National Commodity and Derivative Exchange through which you can carry out the trading activities. Being a separate entity, the exchanges are regulated by the Forward Markets Commission. Any individual who wants to invest in commodities can start with an investment corpus as low as Rs. 5,000. However, demat account from the National Securities Depository Ltd is mandatory for trades on the NCDEX similar to stocks.

What is MCX gold?

MCX is an independent commodity exchange and largest commodity derivative exchange in India. MCX offers options trading in gold and futures.  Currently, MCX offers multiple gold futures contracts options for the interested investors:

  • Gold: Has a trading unit of 1 kg and a maximum order size is 10 kg. The maximum allowed open position for an individual is higher of 5 metric tonne for all gold contracts combined together or 5% of the market wide open position. The maximum allowed open position for a member who is dealing collectively for all clients is higher of 50 metric tonne or 20% of the market wide open position for all Gold Contracts taken together.

  • Gold Mini: Has a trading unit of 100 gm and a maximum order size cannot exceed 10 kg. The maximum allowed open position for an individual and for a member who is dealing collectively for all clients is same as that for Gold Futures Contracts. In other words, it is higher of 5 metric tonne for all gold contracts combined together or 5% of the market wide open position for an individual and higher of 50 metric tonne or 20% of the market wide open position for all gold contracts taken together for a member collectively for all clients.

  • Gold Guinea: Each Gold Guinea Contract represents a smaller amount of 8 gm and targeted at individuals with a smaller capital base. Despite starting from a lower amount, the maximum allowable open position stands at 5 metric tonne for all gold contracts combined together or 5% of the market wide open position for individual clients, and higher of 50 metric tonne or 20% of the market wide open position for a member collectively for all clients.

  • Gold Petal: This contract involves only 1 gm of gold per unit and designed only for small investors. The maximum allowed open position is same as that for all above contracts. One can own up to 20,00,000 Gold Petal Contracts. The contract is ex-Mumbai.

  • Gold Global: It is an international price based contract designed specifically for the requirements of refiners, exporters, jewellers, and larger bullion physical market participants. This is a new product from MCX and was launched in July 2015.

Difference between 18K, 22K, 24K

Gold is categorised on the basis of its purity such as 24K, 23K, and 18K, etc. Higher karat signifies higher gold purity.

24K Gold: It is the purest form of gold (99.99%) and doesn’t have any other metal mixed in the composition. However, it is not suited to make regular forms of jewellery due to being too soft. Since it is the purest form of gold, thus, the gold price for the same is higher than 22K or 18K gold.

22K Gold: A 22K gold ornament has 22 parts of gold mixed with the remaining 2 parts of other metals. It is also known as ‘916 gold’ because it comprises 91.67% of pure gold. Due to the presence of other metals in it, it is harder than a 24K gold and this is why jewellers prefer this while making jewellery.

18K Gold: It comprises 75% gold and 25% of other metals such as copper and silver. Compared to 24K and 22K gold, 18K gold is less expensive.

How to check the purity of gold?

When buying gold jewellery or gold coin, one should always check for the BIS hallmark as it certifies that the gold coin and jewellery you are buying conforms to the national and international standard of fineness and purity. Listed below are the components which one should look at the time of buying:

  • BIS mark
    • 24K= 99.9% Pure
    • 23K=95.8% Pure
    • 22K=91.6% Pure (Also called as BIS 916 gold)
    • 18K=75%
  • Purity in Karat
  • Hallmarking identification mark/number

What is Hallmark gold?

Bureau of Indian Standards, the National Standards Body of India, is responsible for hallmarking gold/jewellery under the BIS Act. If the jewellery or gold coin has a hallmark on it, it certifies that a piece of jewellery or gold bar conforms to a set of standards laid by the BIS.

FAQs about Gold

Q1. How will I know the Jeweller I am buying jewellery from is licensed by the BIS?

Although now it is mandatory for a jeweller to register with BIS but before that hallmarking of gold jewellery and gold coins was voluntary.  Consumers can get the list of Jewellers that are licensed by the authority to sell hallmarked gold from the BIS website.

Q2. Why is pure gold not suitable to make gold jewellery?

24K gold is too soft and malleable to make any jewellery; although coins and bars are mostly bought of 24K. Hence, most jewellers either use 22K or 18K gold to make gold jewellery that can withstand the rigours of daily wear.

Q3. What is the difference between 24K and 22K gold?

24 karat gold: It is the purest form (99.99%) of gold. It can’t be 100% pure as the presence of impurities helps the yellow metal to hold its form.

22 karat gold: Also known as 916 gold as it comprises 91.67% of pure gold and rest is a mixture of other metals such as copper, nickel, etc. The presence of other metals makes 22K gold harder and jewellers prefer this type of metal to make heavily studded jewellery.

Q4. What is the difference between Carat and karat?

Carat is a unit of weight for diamonds and other gemstones and gold’s weight or purity is measured in karat (denoted as KT). A high karat gold signifies the high purity of gold.

Q5. How many grams in one tola gold?

Tola is a Hindi term used in India and other Asian countries to measure gold. One tola gold is equivalent to 10 grams of gold.

Q6. What different types of gold are available in the Indian market?

24K is a pure yellow gold but it is too soft to make jewellery. Thus, it is mixed with other metals such as zinc, nickel to alter its hardness and durability. However, with people demanding more intricate designs, the demand for white and rose gold has been increasing as it is easy to make such jewellery with them. Here is the difference between different types of gold available in the market

White Gold: Yellow gold is mixed with different metals like palladium, zinc, etc. alloys to make white gold. This composition makes white gold harder and more durable than yellow gold

Rose Gold: Copper and silver are mixed with yellow gold and this is what helps rose gold to get its tinge.

Note: One should know there is no such thing as natural white or rose gold.

Q7. What is KDM gold?

Earlier, the makers used to use Cadmium metal as filler with a ratio of 92 per cent gold and 8 per cent cadmium alloy (this is where the term KDM came from). However, now it is banned as it caused serious health issues for artisans working with it. Now cadmium is replaced with advanced solder metal such as Zinc and other metals.

Q8. What is BIS 916 gold?

Gold is categorised on the basis of its purity such as 24K, 23K, and 18K, etc. If it’s hallmarked, 22K gold will be referred to as ‘BIS 916’ gold; the number is a part of the hallmark seal. Likewise, 23K gold is referred to as BIS 958 which means 95.8 grams of pure gold in 100 gram alloy. 916 Gold is nothing but the 22K gold, i.e., 91.6 grams of pure 24 karat gold per 100 grams of alloy.

Q9. How to know the cost of gold jewellery?

Below is the formula through which you can calculate the final price of your gold jewellery:

Final price of the jewellery = Price of the gold (22/18/14 Karat)* Weight in grams + Making charges + GST at 3% on the price of (Jewellery + making charges)

Note: If your jewellery is studded with precious stones, you should check the exact net gold weight minus the weight of the stones embedded in the jewellery.

Q10. What is the GST rate on gold?

It is important to know how gold is taxed at the time of transaction. After the implementation of Goods and Services Tax (GST) on 1st July 2017, the consumer is required to pay 3% tax on the value of the gold jewellery including making charges. Further 5% would be chargeable as making charges.

Q11. How much is an ounce of gold worth today?

Ounce, also known as troy ounce, is an imperial measure of gold that equals 31.1035 grams of gold. As the gold rate changes daily and differs from one city in India to another, the gold price of an ounce would also vary accordingly. Thus, if the price of gold today is Rs. 4,167/gram, then, an ounce of gold would be worth Rs. 4,167x 31.1035 = Rs.129608 However, the same ounce of gold could be worth slightly more or less tomorrow depending on the change in the gold price.

Q12. What is VA in gold?

It is referred to as Value addition. As such there’s no norm for the wastage charge component to be added in the bill and jeweller can only charge you making charges apart from the price of the gold.

Q13. What is gold standard?

It was prevalent in 19th and 20th century where the value of a currency was defined in terms of gold for which the currency could be exchanged. However, now most of the nations abandoned the gold standard as the basis of their monetary systems. India doesn’t use gold standard and uses the Minimum Reserve System since 1956

 News About Gold Rate in India

 Gold Prices jump due to outbreak of coronavirus
19 Feb, 2020 – Whenever the global economy faces a crisis, prices of gold, almost always, go up as more and more people look to park their funds in safe haven. Due to the coronavirus outbreak, the demand for gold has increased. Fears of an economic fallout from the coronavirus outbreak is supporting the demand for gold.
 Hallmarking of gold and gold artefacts mandatory
15 Jan, 2020 – It has now become mandatory for all Jewellers to sell only hallmark gold Jewellery (standard mark which indicates the purity of the metal) with effect from the 15th January, 2021. This will allow Jewellers to register themselves with the Bureau of Indian Standards (BIS) and clear their old stock. Earlier getting the jewellery hallmarked was optional but from 15 January 2021, no jeweller will be allowed to sell any ornaments without hallmarking thus, ensuring that consumers are not cheated while buying jewellery. Here are few things which consumer should know about hallmarking:

1. Hallmarking will be done in 3 categories-14 carat, 18 carat, 22 carat

2. Hallmark gold jewellery now has 4 marks- BIS mark, Purity in KT, hallmarking centre’s name, and Jeweller identification mark

 Due to weak global cues, gold drops by Rs. 150
14 Nov, 2018 – In the national capital, gold prices of 999 and 995 fine gold fell by Rs. 150 to Rs. 31,900 and Rs. 31,750 per 10 gram, respectively. Sovereign, however, continued to be at Rs. 24,800 per piece of 8 gram. As per traders, the slight drop was due to weak position of the precious metal in the global market. Moreover, the fading demand from local jewellers and retailers at the domestic spot market maintained pressure on gold prices. Globally, gold fell by 0.08 per cent to $1,201.90 an ounce and silver by 0.11 per cent to $14.07 an ounce in Singapore Wednesday. Silver ready remained steady at Rs. 37,450 per kg while the weekly-based delivery fell by Rs 443 to Rs 36,219 per kg on speculative selling. Silver coins also fell by Rs 1,000 to Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.
 Gold prices slide to Rs. 32050 on weak demand
13 Nov, 2018 – On Tuesday, at the bullion market, the capital city witnessed a drop in gold prices. The prices of 99.99 per cent and 99.5 per cent pure gold fell by Rs. 100 each to Rs. 32,050 and Rs. 31,900 per 10 grams, respectively. Despite firm gold price trend across overseas markets, the prices dropped due to the lacklustre demand for gold by local jewellers and retailers. Silver too followed the same path and cracked below Rs. 38,000-mark by dropping by Rs. 700 to Rs. 37,450 per kg due to reduced off take by industrial units and coin makers. Post-festive season as the demand reduced, silver coins too slipped by Rs 1,000 to Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces. However, sovereign gold remained flat at Rs 24,800 per piece of 8 grams. Globally, gold increased by 0.22% to $1,203.50 an ounce and silver by 0.68% to $14.18 an ounce in Singapore.
 Gold price in India increases amid wedding season demand
12 Nov, 2018 – On Monday, the gold prices of 999 and 995 fine gold were recovered by Rs 80 each to Rs 32,150 and Rs 32,000 per 10 gram, respectively. The reason for such an increase is the wedding season. Jewellers are buying gold to meet the wedding season demand. Silver too is going higher than before by Rs. 150 at Rs. 38,150 per kg. The depreciation of rupee against the dollar by 54 paise to 73.04 is also supporting the upside in gold prices in India and is also making the imports costlier. Overseas, the weak silver price and gold price has capped the gains.
 Gold prices drop from a 6-yr high on weak global cues, end of the festive demand
10 Nov, 2018 – At bullion market, during the week, gold prices dropped from near 6-year high by Rs. 580 to Rs. 32, 070 per 10 g. The reason for the drop is credited to the fall in demand from jewellers and retailers due to the end of the festival season in India. Besides, a weak gold trend abroad also damped the spirit as the dollar firmed after the US Federal Reserve kept the rates of interest steady, thus reducing the appeal of gold as a safe heaven. Nationally, gold of 99.9 and 99.5 per cent purity dropped slowly to end the week lower by Rs. 580 each to Rs. 32,070 and Rs. 31,920 per 10 g, respectively. Globally, gold dropped to $1,210.40 and silver at $14.25 an ounce against previous week’s closing of $1,233.20 and $14.82 an ounce.
 RBI adds another 6.8 t of gold to forex reserves 
12 Sep, 2018 – Amidst the depreciating value of rupee,RBI adds another 6.8 t of gold to Forex reserves. In July, the central bank added 6.8 t, which has been the highest monthly accretion after 2009. This came at a time when RBI spent more than $25 billion defending the falling rupee. After buying 200 t of gold from IMF in 2009, the central bank made its first token purchase in December, 2017 with 300 kg and then added more than 2.2 t in March this year. As per a data compiled by the World Gold Council, in 2018-19, in four months, RBI added 12.7 t of gold, out of which 11.2 t was purchased in June and July. Analysts tracking the international gold reserves say that the need was felt because countries like Russia, Turkey and China have been adding gold to their reserves to diversify their Forex reserves.

*Disclaimer : The gold price given in this site is provided by sources which we consider are authentic and reliable. We have made every effort to make sure the gold price shown here are accurate. However, this data is intended for information purpose only and should not be considered as investment advice. We accept no liability for any loss arising from the use of the above data. Please contact your investment advisor before making investment decisions.

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