Gold prices in India saw a slight decline from recent highs, influenced by factors like US-China trade tensions and a stronger US Dollar. Despite this dip, gold remains a favored investment option, especially with Akshaya Tritiya approaching, a day considered auspicious for gold purchases.
As of 6:20 am, MCX Gold was priced at ₹96,060 per 10 grams, showing a rise of ₹1,068 from the previous close, while MCX Silver traded at ₹96,587 per kg, up by ₹146. The Indian Bullion Association reported rates for 24-carat gold at ₹96,320/10 gm and 22-carat gold at ₹88,293/10 gm. Silver (999 Fine) was priced at ₹97,090/kg.
In major Indian cities, gold and silver prices on April 29 were as follows:
New Delhi:
Gold bullion: ₹95,980/10 gm
Silver bullion: ₹96,750/kg
MCX Gold: ₹96,060/10 gm
MCX Silver: ₹96,587/kg
Mumbai:
Gold bullion: ₹96,150/10 gm
Silver bullion: ₹96,910/kg
MCX Gold: ₹96,060/10 gm
MCX Silver: ₹96,587/kg
Chennai:
Gold bullion: ₹96,430/10 gm
Silver bullion: ₹97,200/kg
MCX Gold: ₹96,060/10 gm
MCX Silver: ₹96,587/kg
Bengaluru:
Gold bullion: ₹96,220/10 gm
Silver bullion: ₹96,990/kg
MCX Gold: ₹96,060/10 gm
MCX Silver: ₹96,587/kg
Kolkata:
Gold bullion: ₹96,020/10 gm
Silver bullion: ₹96,780/kg
MCX Gold: ₹96,060/10 gm
MCX Silver: ₹96,587/kg
Hyderabad:
Gold bullion: ₹96,300/10 gm
Silver bullion: ₹97,070/kg
MCX Gold: ₹96,060/10 gm
MCX Silver: ₹96,587/kg
Investing in precious metals like gold and silver, especially in the form of bullion, has been a traditional means of wealth preservation and portfolio diversification. Silver bullion, in particular, is gaining attention for its affordability and potential as a store of value amidst economic uncertainties.
Experts advise that investing in silver bullion can offer a hedge against inflation and currency devaluation. The white metal’s industrial applications, coupled with its status as a safe-haven asset, make it an attractive option for investors looking to balance their portfolios.
Historically, silver has been used as a form of currency and a symbol of wealth. Its unique properties and limited supply contribute to its enduring value proposition. In today’s volatile economic climate, diversifying investment portfolios with silver bullion can provide stability and long-term growth potential.
As global markets continue to face uncertainties, including geopolitical tensions and fluctuating currencies, the demand for precious metals like silver bullion is expected to remain strong. Investors seeking to safeguard their wealth and mitigate risks are increasingly turning to tangible assets like silver, highlighting its role as a reliable investment option.
In conclusion, while gold remains a popular choice for investors, the appeal of silver bullion is on the rise due to its affordability, intrinsic value, and potential for long-term growth. As individuals seek to secure their financial futures, diversifying portfolios with silver bullion could offer a promising avenue for wealth preservation and capital appreciation.