Today's gold 22k and 24k pure and silver bar price status in Tamil Nadu.
today gold rate in tamilnadu
| 15th june 2023 | ||
|---|---|---|
| Madurai 22k | Price | Change's |
| 1 gram 22k | ₹5530 | ₹50🔻 |
| 8 gram 22k | ₹44,240 | ₹400 🔻 |
| 10 gram 22k | ₹55,300 | ₹500🔻 |
| 1 kg silver | ₹73,580 | ₹970🔻 |
| 10 gram silver | ₹775 | ₹10🔻 |
| 10 gram 24k | ₹60,900 | ₹270🔻 |
How safe is it to buy gold in the current scenario?
Buying gold is similar to investing in the stock market. Security here is uncertain.
For those who want to make profit in the stock market, buying stocks when the stock prices are going down and selling them when the prices are at the top is the art to master.
Similarly, the price of gold is at the top right now. When the value of the gold bought at this price rises fifteen per cent, per say, it can be sold and made some profit. 5000 to 7500 at today's price. Keeping it above that depends on one's financial investment tolerance. This can happen over time, while the blister can burst at any time.
This game for the middle class, that too in this time of Corona, is an irrelevant savings.
gold price in chennai
| 14th june 2023 | ||
|---|---|---|
| Chennai 22k | Price | Change's |
| 1 gram 22k | ₹5505 | ₹45🔻 |
| 8 gram 22k | ₹44,040 | ₹360🔻 |
| 10 gram 22k | ₹55,050 | ₹450🔻 |
| 1 kg silver | ₹73,580 | ₹970🔻 |
| 10 gram silver | ₹775 | ₹10🔻 |
| 10 gram 24k | ₹60,900 | ₹270🔻 |
What is the reason for the continued increase in the price of gold?
Demand for gold among Indians is not the only cause of rise and fall in gold prices. Gold price situation is more dependent on international market conditions than domestic market conditions.
Although there are many reasons why the price of gold rises and falls, there are five main reasons. They are
* International economic situation,
"The price of gold in the international market,
* The value of the Indian Rupee against the US Dollar,
*Investments in gold
*Demand for gold.
Gold prices tend to rise when there is uncertainty at the international level. Investors tend to invest more in gold than other investments considering future welfare.
Now that the corona virus has had a huge impact on the international level, the price of gold has gone up in the international market.
The international demand for gold is always high and its price is at an all-time high.
Similarly, the price of gold in India fluctuates depending on the value of the Indian rupee against the US dollar. Because India imports gold in dollar terms.
Since the beginning of this year, the value of the Indian rupee has continued to depreciate against the US dollar.
As a result, India has to pay more rupees to import gold.
The price of gold is raised to pass the burden on the consumers. Although the demand for gold in India is currently low, the price of gold has to rise to cover the import costs. When the price of gold rises in the international market, the price of gold in India is also forced to rise.
At the same time, although the price of gold in the international market is falling and the dollar is high, we cannot expect a fall in the price of gold in India.
So the price of gold is determined based on all these factors. Even though the sale of gold has decreased due to the Corona lockdown, the price of gold continues to rise according to the international market conditions.
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