Gold price on May 3: Rates in main Indian cities

Gold prices fell in India on Friday, according to data from India's Multi Commodity Exchange (MCX).

Gold prices fell in India on Friday, according to data from India 's Multi Commodity Exchange . Gold price stood at 70,906 India n Rupees per 10 grams, down INR 384 compared with the INR 71,290 it cost on Thursday. As for futures contracts, Gold prices decreased to INR 70,647 per 10 gms from INR 70,701 per 10 gms. Prices for Silver futures contracts decreased to INR 81,119 per kg from INR 81,313 per kg.

Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. 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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

FXStreetNews /  🏆 14. in US

India Silver Commodities Silver

United Kingdom Latest News, United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Gold price on May 2: Rates in main Indian citiesGold prices fell in India on Thursday, according to data from India's Multi Commodity Exchange (MCX).
Read more »

Gold price on April 30: Rates in main Indian citiesGold prices fell in India on Tuesday, according to data from India's Multi Commodity Exchange (MCX).
Read more »

Gold price on April 29: Rates in main Indian citiesGold prices fell in India on Monday, according to data from India's Multi Commodity Exchange (MCX).
Read more »

Gold price on April 26: Rates in main Indian citiesGold prices rose in India on Friday, according to data from India's Multi Commodity Exchange (MCX).
Read more »

Gold price on April 25: Rates in main Indian citiesGold prices rose in India on Thursday, according to data from India's Multi Commodity Exchange (MCX).
Read more »

Gold price on April 24: Rates in main Indian citiesGold prices rose in India on Wednesday, according to data from India's Multi Commodity Exchange (MCX).
Read more »