Are you planning to buy gold this Dhanteras? Then this news is only for you. On the occasion of Diwali, Dhanteras festival, most Hindu families, businessmen prefer purchasing gold. So, ahead of festive season, several banks offer rewards like discounts or cashback on gold purchases. Here are some of the top bank offers on gold purchases in 2019.
Spot gold prices for 24 Karat in Delhi was trading marginally down by Rs 30 to Rs 38,955 in absence of festival buying and weak global prices.
The precious metal contracts for December delivery traded up by Rs 163, or 0.42 per cent, to Rs 38,700 per 10 gram in a business turnover of 435 lots.
Silver was also on weak ground, tumbling Rs 1,400 to Rs 48,500 per kilogram.
At the Multi Commodity Exchange, gold prices for delivery in October fell by Rs 326, or 0.82 per cent, to Rs 39,497 pe 10 gram in a business turnover of 1,798 lots.
Analysts said fall in gold prices was mainly due to trimming of positions by participants. Besides, weak trend overseas influenced the sentiment, they added
Amid Pakistan Prime Minister Imran Khan's war threat against India after the abrogation of Article 370 in Jammu and Kashmir, the Gold price has reached a record high of Rs 90,000 per tola (just above 10 gram) in Pakistan on Friday. Gold rates in several cities of Pakistan, including Karachi, Lahore, Rawalpindi, Peshawar reached record high, according to UrduPoint.
The 24-karat gold jumped by Rs 900 to trade at Rs 90,000 per 10 gram against Wednesday's closing price of Rs 89,100 per tola, according to the Karachi Sarafa Association.
Gold prices on Thursday jumped Rs 250 to breach the record Rs 40,000 per 10 gram levels for the first time at the bullion market here on strong demand from investors amid growing fears of a global economic slowdown.
Typically, the demand for gold reflects the expectations about the future, the prices of the precious metal tends to rise amid uncertain economic situations or political upheaval.
Gold is considered as the best investment for the future. As festivals and wedding season approaches, gold prices are on peak. Well, gold price today is Rs 38,465 per 10g in the national capital. But, do you any idea of gold rates in the neighbouring country Pakistan?
If you are also planning to invest in gold then here is the best way to do it right away, despite the constant rise in the gold price. This can be done by purchasing paper gold or sovereign gold that has been made available by the Reserve Bank of India (RBI).
Gold prices fell by Rs 29 to Rs 34,992 per 10 gram in futures trade Wednesday as speculators reduced exposure in tandem with a muted trend in the precious metal overseas.
On the Multi Commodity Exchange, gold contracts for July delivery fell by Rs 207, or 0.59 per cent, to Rs 34,925 per 10 gram in a business turnover of 14,737 lots.
Gold prices on Friday plunged Rs 400 to Rs 35,400 per 10 gram in the national capital due to easing demand from local jewellers even as the precious metal gathered steam overseas, according to All India Sarafa Association.
Modi Government has launched Sovereign Gold Bond (SGB) under which you will get gold at a cheaper rate as compared to the market price. The price of one gram gold has been kept at Rs 3,443. Notably under this instead of gold, one will get bond of the gold purchased issued by the RBI bank.
Gold prices on Thursday zoomed Rs 930 to Rs 35,800 per 10 gram in the national capital tracking positive overseas trend after US Federal Reserve Chairman Jerome Powell hinted at a rate cut soon that prompted investors to move towards safe-haven assets like the yellow metal.
The gold industry on Friday unanimously slammed the steep hike in import duty of gold and precious metals from 10 per cent to 12.5 per cent, saying it will backfire and hit the Indian retail market.
Finance Minister Nirmala Sitharaman on Friday in her maiden budget speech has an announcement that might not be music for the middle-class consumers who buy gold for various reasons. The government has increased customs duty on gold and other precious metals to 12.5 per cent from the existing 10 per cent, said Finance Minister in the Lok Sabha.
Gold prices plunged Rs 300 to Rs 34,170 per 10 gram in the national capital on Wednesday due to tepid demand from local jewellers and weak trend overseas, according to the All India Sarafa Association.
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