Gold prices rose in India on Tuesday, according to data from India's Multi Commodity Exchange (MCX).
Gold prices rose in India on Tuesday, according to data from India 's Multi Commodity Exchange . Gold price stood at 73,853 India n Rupees per 10 grams, up INR 692 compared with the INR 73,161 it cost on Monday. As for futures contracts, Gold prices decreased to INR 73,968 per 10 gms from INR 74,367 per 10 gms. Prices for Silver futures contracts decreased to INR 94,350 per kg from INR 95,267 per kg.
Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. Who buys the most Gold? Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency.
Commodities India Silver Futures Silver
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