Gold rates have fallen today in India – here are the main reasons behind the drop.
700Gold price fall India today saw a fall of ₹ 700. Today the rate of 10 gram gold is ₹ 98,420. Know the reason behind the fall in gold rates and the latest update.
Gold Price Fall India Today – Why did gold become cheaper today?
Gold Price Fall India Today: Today the rate of gold fell in India. Today it is ₹ 700 less than the rate at which gold was being sold yesterday. This news is very important for those people who are planning to buy gold or invest in gold.
What is the gold rate today?
Today the rate of 10 gram 24 carat gold is approximately ₹ 98,420. Yesterday it was ₹ 99,120. Meaning there has been a fall of ₹ 700.
Whenever gold becomes cheaper, people buy it more. This rate may be slightly higher or lower depending on the cities, like Delhi, Mumbai, Chennai, Bangalore, everywhere it is different.
Why did the gold price fall in India today?
Why did the gold price fall in India today? There can be some important reasons behind this which directly affect the market.
- The value of the dollar has increased
When the dollar strengthens, the price of gold generally goes down. Because in the international market gold is traded in dollars only. - The demand across the world has decreased
If people in foreign countries are buying less gold, then its effect is also seen on the price of India. The demand of the international market directly impacts the local prices. - Right now there is no festive season in India
People buy more gold during festivals. Like Diwali, Dhanteras, wedding season – then gold is sold. Now there is no such season, so the demand is also less. - Stock market is performing well
When people invest in share market, the interest in gold decreases a bit. Nowadays stocks are giving good returns, that is why people are investing there instead of gold.
Who can benefit?
- Many people can benefit from the fall in gold prices in India today:
- Those who buy gold for weddings
- Now you can buy more gold for less money.
- Investors
- For those who want to buy gold for long term, this is a good time.
- Jewellery business
- Jewellers can buy more stock when the rates are low.
Will the rate fall further?
It is difficult to say whether the price of gold will fall further or not. But experts say that if there is tension in the market, then gold will remain stable. But if the economy improves, then the rate can fall a little more.
So if you want to buy gold, today could be the right day. But before taking a final decision, you should check the market trend.
Conclusion–
Today the price of gold in India has fallen by ₹ 700. This is good news for those who want to buy gold. Experts say that the price of gold depends on the mood of the market. Right now the demand is low, so the price has also gone down. If you want, you can use this time to buy gold. Just keep checking the rates daily and take a decision at the right time.
