Gold rates fall, Silver emerges again: Check rates in major cities

Gold rates fall, Silver emerges again: Check rates in major cities
Image: Unsplash

Gold rates today on March 3, 2021, stood at Rs 48,280 for 24 carats and 44,250 for 22 carats respectively. Gold rates 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. 72,000 for 1 Kg in Delhi, according to the Goods Returns website. The gold prices in Chennai for 22 carats stood at Rs 42,660 and for 24 carats it was Rs 46,540.

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.

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.

ALSO READ: Mukesh Ambani 8th Richest Person In The World: Hurun Global Rich List 2021