New Delhi: Dhanteras, which marks the start of the festival of Diwali is considered an auspicious time to invest in gold. In Indian culture, buying gold, silver, other precious metals and investing money is regarded as an extremely favourable choice on Dhanteras.
Well, those planning to buy gold this Dhanteras could be a little disappointed because gold rates are higher this season. Gold prices are ruling at around Rs 39,000 per 10 gram today as against Rs 32,690 per 10 gram last Dhanteras but they are down from last month’s record high of about Rs 40,000 per 10 gm.
However, over time, the value of gold always appreciates and gold investment gives the best returns. Experts say that gold still has its glitter left and from an investment perspective, it’s usually considered as a good hedge against inflation and volatility.
Expectations are that domestic gold could surpass 40,000 and hit Rs 42,000 per 10 gm in the next one year. Besides, in order to spur demand, retailers and jewellers have been lining up promotional offers. So, shop on!
Here are the prices of 10g of 24K gold in major Indian metropolitan cities today:
New Delhi: Rs 39,760
Mumbai: Rs 39,880
Kolkata: Rs 39,840
Bengaluru: Rs 39,980
Chennai: Rs 39,990
Gurugram: Rs 39,320
Hyderabad: Rs 39,960
Jaipur: Rs 39,870
Lucknow: Rs 39,690
Kochi: Rs 39,995
Ahmedabad: Rs 39,940
Madurai: Rs 39,960
So, be smart and mindful of the prices when it comes to buying gold. Usually, jewelry stores display a specific bullion rate for customers, which needs to be discounted according to purity. Remember to check weight per gram as some buyers like to have precious stones like diamond, emerald etc beaded up in their gold jewelry. Therefore, make sure the gold is weighed separately while billing and not along with the beaded stones to avoid being overcharged.
Secondly, always ask for purity before buying it. The purest form of gold is 24K, which is 99.9% pure. Thirdly, buy hallmarked jewelry as hallmark is the certification of purity for any gold object. It is suggested to buy the precious metal from branded jewelers or reputed shops.