Gold Rate Today – Gold lovers and investors have a reason to smile right now. The prices of gold have been continuously falling for the past five days, and this might just be the right time to buy. With the festive season around the corner, especially Akshaya Tritiya, people often look to invest in gold, and the current dip in rates might offer the perfect opportunity.
Let’s take a look at what’s happening in the gold market and where prices are headed.
Gold Prices Drop Ahead of Akshaya Tritiya
Gold prices have been on a downward slide ever since touching the Rs 1,00,000 mark per 10 grams around April 22. Since then, there has been a gradual fall. On Monday, April 28, gold was down by nearly Rs 1,000 compared to the previous week. This consistent fall has sparked interest among those looking to buy gold either for investment or traditional purposes.
What About Silver Prices?
Unlike gold, silver prices haven’t seen much fluctuation in recent days. On April 28, silver was priced around Rs 1,00,800 per kilogram. That’s only about Rs 100 less than last week. While gold is taking a dip, silver has stayed fairly stable for now.
Gold Rates in Major Cities
Let’s check out the gold prices in some of the major cities for both 22-carat and 24-carat gold:
- Delhi:
22K – Rs 89,550 per 10 grams
24K – Rs 97,680 per 10 grams - Mumbai:
22K – Rs 89,400 per 10 grams
24K – Rs 97,530 per 10 grams - Chennai:
22K – Rs 89,400 per 10 grams
24K – Rs 97,530 per 10 grams - Kolkata:
22K – Rs 89,400 per 10 grams
24K – Rs 97,530 per 10 grams - Jaipur, Noida, Ghaziabad, Lucknow:
22K – Rs 89,550 per 10 grams
24K – Rs 97,680 per 10 grams - Bangalore and Patna:
22K – Rs 89,400 per 10 grams
24K – Rs 97,530 per 10 grams
It’s interesting to see that there isn’t a huge difference between cities, but some minor changes still occur based on local taxes and demand.
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Why Are Gold Prices Falling?
The recent dip in gold prices is being attributed to global economic developments. Experts believe that growing trade tensions between the United States and China, along with changes in import duties and taxes, are affecting the price trends.
Although gold prices are down now, international markets are showing signs of upward pressure again. This means gold could soon become more expensive if global tensions rise further or economic uncertainties grow.
What Do Experts Predict?
Market analysts are keeping a close eye on international developments. If things stay stable globally, gold might remain under Rs 75,000 per 10 grams for the next few months. But if tensions, especially between the US and China, increase, we could see gold prices soaring up to Rs 1,38,000 per 10 grams within six months.
That’s a huge potential jump, and that’s why many investors see this temporary fall as a golden opportunity to buy before prices shoot up again.
How Are Gold Prices Decided in India?
In India, gold pricing depends on several factors:
- International gold prices: India is one of the largest importers of gold, so changes in the global market directly impact domestic prices.
- Currency exchange rates: When the rupee weakens against the US dollar, gold becomes more expensive, and vice versa.
- Import duties and taxes: Any changes made by the Indian government on import duties or GST also play a big role.
- Demand and supply: During festivals and wedding seasons, demand rises, which pushes up prices.
- Market sentiment: News about inflation, war, global instability, or central bank policies also affects gold demand.
For those looking to invest in gold, now might be a good time to consider buying. Prices have dipped for several days, and with upcoming festivals, it makes sense for both cultural and financial reasons. While long-term forecasts suggest that gold might go up significantly if global situations worsen, the current dip is being seen as a short-term window to buy at lower rates.
Always remember, investing in gold is not just about profit. In India, gold is tied to tradition, festivals, and emotions. So whether you’re buying for financial security or for family celebrations, staying updated on market trends can help you make a smarter choice.