Gold Price India
Gold Price India
India is firstly the world's biggest gold importer, the nation soaking up approximately a third of all the world's gold supply every year. Gold is India's biggest foreign purchase right after oil, and gold is synonymous with saving for many of India’s 1.24 billion people, and for a variety of reasons. The gold price in India is linked to world gold prices, the spot and gold futures prices also change as per the demand supply in world markets. Gold is also one of the most actively traded commodities throughout India on the MCX (Multi Commodity Exchange) in terms of economic value. India and China are the two biggest markets for gold in the world, accounting for more than 25% of total world demand, China was expected to overtake India, but this hasn’t happened yet.
Indians view gold as a trading currency and a safe haven from volatile up and down swings of the Indian rupee, and many Indians use gold copiously in their festivals and weddings. Indian weddings typically provide a strong market in the demand for the yellow metal.
Gold Rate India
Gold has seen a lot of activity in India in recent years, it was mainly jewelry that was in vogue, but now banks are doing very good business selling gold bullion coins and bars.
Indian Rupee per Gram
Investing In Silver
This precious metal also has been a very big part of Indian culture for many centuries, and like gold, many Indians use silver as a means of saving. Not a bad idea either with the Indian rupee plunging recently. The average Indian citizens have quickly turned their attention to the silver market in recent years.