Gold Rate Today May 2022 – Gold Price in India

Gold Price Today in India: It has been proved that Gold is the best investment and a perfect hedge against inflation. That’s why experienced investors always suggest Gold is an important investment. Money Tells provides Gold rate today in India on a daily basis to its readers for informational purposes. We’re updating gold rates with the help of reputed jewellers in the country.

Gold Rate Today in India 23.05.2022

How is the Hallmarked gold rate today in India determined?

Remember, there is no difference between hallmarked gold and normal gold rate. No jewellers charge extra money from you for giving the hallmarked gold. Hallmark gold is the same rate at which normal gold is sold. The one important thing is that you can make sure the purity when you buy gold.

Hallmarked Gold Rate Vs Normal Gold Rate

• No difference in Gold rate.
• You can ensure the purity of the gold.
• You need to take the precious metal to the essaying centers.
• Shortage of essaying centers in the market.

The important thing here to mention is that hallmarked gold rates in India are not differing in their pricing. The only difference is the quality of the precious metal. In general, you must buy gold which is high quality. If there are no extra charges and differences between these two, we strongly suggest sticking with the quality hallmarked gold products.

The investors have already voiced against the poor hallmarked centers in the country that need to be addressed at the earliest by the Indian government. It is true that there is an urgency to start many gold hallmark centers. This will help the customers to buy pure gold and to avoid bad gold in this country.

Why is Gold an Important Asset?

It’s 100% true that Gold is an important and precious metal and it the best assets to help you in turbulent times. The investment on Gold is increasing globally on year basis. Starting from 2001, this precious metal has witnessed a growth of over 15% every year.

Earlier days, the gold was used by women during celebrations and festivals. Later on, the investors started seeing this metal as a long-term investment to get good profit.

Gold is one of the prominent liquid assets and it comes in handy at turbulent times to help the people. Gold or yellow metal acts as a hedge against inflation, your worst time and currency debasement. Moreover, this metal outshines when equities and debt tumble in the stock markets.

India is the second largest country in consumption of this metal globally. Gold has a dual nature as a luxury good and an investment option. The value of this yellow metal has grown phenomenally over the years. So gold is the best bet to invest in as an asset.

How is the gold price today in India per gram is arrived at?

Currency: If the rupee value slides against the dollar then the gold prices in India per gram will be more expensive.

International Factors: There are many important factors on the gold rate in India such as slowing global economic growth and volatile policies.

Interest Rates: One of the important impacts on gold rates in India is – Interest Rate. When the interest rates in the big countries like the US go high then the gold rates fall. If the interest falls then the gold rates go higher.

Gold Demand for the Precious Metal: Demand plays an important role in determining the gold rate in India. The gold rate today per gram in India will be decided based on the demand. If there is no demand then the gold price will fall. However, if the gold demand is high then the gold price will increase.

Prices: High gold prices today in India have discouraged consumption. The rate of gold in India has moved higher as Rs 49,000 per 10 grams.

Government Policies: The government also discourages the consumption of gold sometime. It happens when gold prices are rising and the current account is swelling. During these days, the Government discourages the use of gold. Need to ensure that there is no problem ith deficit. As the nation already has so much gold and what are you going to do with the gold already there?

Who Imports Gold and How is the 22 Carat Gold price in India determined?

Kolar in Karnataka is the place which once used to mine gold and it is closed now. So India does not mind gold currently. Now India imports all of its gold requirements. India use imported gold prices to arrive at a 22 Carat gold price in India. There are many importers of gold into India.

Top government banks in India and some private sector banks are importing gold into India. The major importers of gold in India, who have a hand in fixing the gold prices in India for the wholesale gold rates in India.

1. State Bank of India
2. Punjab National Bank
3. Bank of Baroda
4. Union Bank of India
5. Bank of India
6. Yes Bank
7. Minerals and Metal Trading Corporation of India.

We have provided a small part of the list of gold importers in India. Once they have imported the gold then they will add VAT, import duties, etc., and sell them now to the wholesalers. Now the wholesalers will sell it to the retailers in the country.

Now the important query here is, how the prices of gold are decided in India? It is the part of primary jobs of the bullion association, who arrives at the live gold rate in India. The live gold price in India will not change frequently in a day.

Inflation and Gold Rates in India

The inflation does not have a direct or major impact on gold prices in India. For an instance, when inflation is higher, so does interest rates. When interest rates are higher than the gold prices are falling. Because, investors and people rush to sell their gold and buy fixed yielding government securities.

You need to be more careful if you are investing in gold. Investors must keep an eye to find anything against any decline in prices.

If you are going to invest in Gold for a large quantity, it is better to check with the experts. Check with the local jewellers before investing. However, you need to check the international gold market and interest rates in the US. If it goes higher than the gold prices in India tend to be higher.

Why to Invest in Gold in India?

There are several reasons to invest in gold in India. The foremost reason is that its a hedge against any fall in asset classes like equities and real estate business. So Gold is one of the best investments that gives you a great opportunity for diversification. There is no better investment than gold.

If you’re not investing in Gold then you’re making a big mistake. Gold gives some respite against bad times. The great advantage of gold is, its very liquid, making it among the better asset classes than real estate.

Related:

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Today Gold Rate in Chennai

Conclusion

We have listed today gold rate in India with the popular jewellery shops in India. Thanks for reading and please share this post.

Disclaimer: MoneyTells provides the gold rates obtained from sources believed to be reliable. However, we do not guarantee their accuracy. Our gold price data are provided without warranty or claim of reliability. It is accepted by the site visitors or viewers on the condition that errors or omissions shall not be made the basis for any claim, cause for action or demand. The material on this website has no regard to the specific investment objectives, particular needs of any visitor or financial situation. References made to 3rd parties are based on rates and information obtained from various sources believed to be reliable but are not guaranteed as being accurate. Visitors should not regard it as a substitute for the exercise of their own judgement. We always suggest our visitors to cross-check gold rate in India by visiting the nearby Jewellery.