Gold Rate: The rise in the price of gold is making everyone wonder what is common and what is special. Gold prices have gone up to such high levels that the futures market and retail market are breaking all records everywhere. In this month i.e. October 2024 itself, it has become costlier by Rs 3506 and its rates are at all-time level and gold and silver are spreading a lot of light.
What is the latest gold rate in MCX?
Today on MCX i.e. Multi Commodity Exchange, gold is trading up by Rs 440 at Rs 78,252 per 10 grams and silver is trading at Rs 98053 per kg with a rise of Rs 1254.
55 percent return in gold in 5 years
Exactly 5 years ago i.e. in October 2022, gold was at Rs 50,605 per 10 grams and if we look at yesterday’s closing price, it was at Rs 78,446 per 10 grams. Gold has shown an increase of Rs 27,841 in 5 years i.e. from 2020 till now and it is showing a total increase of 55 percent.
Those purchasing gold on Dhanteras-Diwali have options other than jewellery.
If you are one of those who buy gold just for the sake of auspiciousness, then instead of buying jewellery, you can buy gold ETF or physical gold like coin or bar. You have to pay GST and making charges while purchasing gold jewelery like bracelets, earrings, necklaces or other jewellery, so to avoid this extra expense, you have options like gold bar, gold coin or raw gold and in these you get full 24 carat gold. Accuracy can also be achieved.
Kama Jewelery Of MD Colin Shah It is said that gold prices usually increase during the festive season. In India, there is emotional shopping especially during festivals and the gold metal is at its peak at this time. Now in the next week there are festivals of Dhanteras and Diwali and there will be huge purchase of gold, due to high demand festive sales will increase.
How far will gold prices go – know from experts
According to many commodity experts, gold is expected to reach Rs 85,000 by December 2024. According to Colin Shah, the price of gold is likely to reach Rs 80,000 per 10 grams in the next week itself. It is expected to see a rate of $ 3000 per ounce in the international market.
Today is an auspicious day to buy gold.
Today on 24th October, there will be Guru Pushya Yoga in which gold-silver jewelery as well as vehicles can be taken. Apart from this, buying electronic goods can also be auspicious and today is also the festival of Ahoi Ashtami. This Guru Pushya Yoga, before Diwali, today on 24th October is the great auspicious time of purchasing ‘Pushya Nakshatra’.
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