Gold rates today on March 11, 2021, stood at Rs 47,950 for 24 carats and 43,950 for 22 carats respectively. The rates for gold and Silver had declined soon after the Union Budget 2021. They have been on a consistent decline since then. You can check Gold rates and Silver prices here. While the silver rates hovered at Rs. 66,000 for 1 Kg in Delhi, according to the Goods Returns website. The gold prices in Chennai for 22 carats stood at Rs 45,980 and for 24 carats it was Rs 42,150.
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.
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.