By Admin 
Gold price today: The price of gold is being seen in the last few days in the price of gold amidst relaxation in the US monetary policy and there is a tremendous boom within the last few days. The weak condition of the labor market, gold has reached the all time high between the highest rate of unemployment in the last four weeks. Gold on MCX has come up 0.48 percent to Rs 1,09,500 per 10 grams. Whereas, the price of silver has also jumped 1.14 percent to Rs 1,28,383 per kg.
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It is believed that on September 17, interest rates can be cut by the Central Bank Federal Reserve of the US. Due to this, positive sentiments are being seen in the market. However, due to the high-US tariff over India-China due to Bhurajnic stress and the purchase of oil from Russia, Sona has drawn investors towards her.
In the national capital Delhi, 24 carat gold is being sold at the rate of Rs 1,11,430 per 10 grams, while the price of 22 carat gold is Rs 1,02,150. Whereas the financial capital is trading 24 carat gold at the rate of Rs 1,11,280 in Mumbai, Hyderabad, Chennai, Bangalore and Kolkata. Similarly, 22 carat gold is being sold at the rate of Rs 1,02,000 at these places. 24 carat gold is purchased only for the purpose of investment while people buy 22 carats and 18 carat gold to make jewelery.
How is the rate fixed?
Gold and silver prices are fixed on daily basis and many factors are responsible behind it. These mainly include exchange rates and dollar prices fluctuations, customs and taxes, international market status, social and cultural importance of gold in India and approach of inflation and investment.
Since the prices of gold and silver in the international market are fixed in the US dollars, the change in the dollar-rupaya exchange rate has a direct impact on the price of these metals. If the price of the dollar increases or the rupee is weak, then the prices of gold in India increase.
Most of the gold is imported in India. In such a situation, import duty, GST and other local tax affect gold prices. In the global market, the upheaval (eg war, economic recession or change in interest rates) directly affects the price of gold. When uncertainty in the global market increases, investors choose safe options such as gold instead of shares or other unstable assets.
In India, gold is not only related to investment, but also with tradition and cultural beliefs. Buying gold on marriage, festivals and auspicious occasions is considered auspicious. Therefore, demand is high, which affects prices. Sona has been a better return option than inflation for a long time. When inflation increases or there is a risk in the stock market, people like to invest in gold. This is the reason that its demand and price always remains.
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