Gold and Silver prices record sharp decline: Check today’s rates here

Gold and Silver prices record sharp decline: Check today's rates here
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Gold prices today on April 1, 2021, stood at Rs 47,180 for 24 carats and 43,250 for 22 carats respectively. The domestic prices of gold and silver today remain weak. One of the reasons behind this decrease in price is import duty cut.

They have been on a consistent decline since the union budget of India. You can check Gold rates and Silver prices here. While the silver rates hovered at Rs. 63,200 for 1 Kg in Delhi, according to the Goods Returns website.

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

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

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

Moreover, gold prices 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 their shine again. The yellow metal also has a social and emotional value to it.

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