Gold and Silver face consistent fall, Check rates

Gold and Silver face consistent fall, Check rates
Representative Image: HFK

Gold rates today as of February 20, 2021, stood at Rs 49,260 for 24 carats and 45,150 for 22 carats respectively. Gold and Silver prices had declined soon after the Union Budget 2021. But now gold and silver prices are on surge slowly. You can check Gold rates and Silver prices here. While the silver rates hovered at Rs. 68,700 for 1 Kg in Delhi, according to the Goods Returns website. The gold prices in Chennai for 22 carats stood at Rs 43,480 and for 24 carats it was Rs 47,400.

The yellow metal is a perfect hedge against inflation. Gold rates keep varying every day depending on the market, hence we keep a daily check on prices.

India is the second-largest consumer of gold and silver is also seen as a good investment among others. Gold rates for today vary from the previous days, depending on market sentiments.

Due to excise duty, state taxes and making changes, the rates of gold and silver jewellery vary across the country. After almost a five days dip, gold and silver prices are on surge.

The economic slowdown caused by the COVID-19 and the weak US dollar encouraged investors to invest a whopping Rs 6,657 crore in exchange-traded gold funds in 2020. Check gold rates here.

The inflow arrived after seeing six straight years of the net pullout of safe-haven assets, largely due to fears of a global slowdown and volatile equity and debt markets. The budget has also affected gold and silver rates.

Moreover, gold rates are taken as a sign of wealth and prosperity among Indian families. Gold has high liquidity and inflation-beating capacity. One can invest in gold in many forms like buying coins, bars, exchange-traded funds, etc. Apart from the financial value, the price keeps fluctuating and gold rates lose its shine again. The yellow metal also has a social and emotional value to it.

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