Gold Price Today: To Buy or Not to Buy? Dilema Of Gold!
In record breaking trading recently, the prices of gold have had a rollercoaster ride, and buying the precious metal in India is a tricky affair. 24K gold in Delhi costs ₹1,07,010 per 10 grams, and 22K gold costs ₹98,100 per 10 grams. To most of us, gold is not just an investment; it is part of our culture, especially in marriages and during festivals such as Diwali, which is not far away!
The question that may come to mind is, do I buy now or wait? Ah, international gold prices are a little lower now because of factors such as easing tensions and potential interest rate decreases. However, simultaneously, the weaker Indian rupee and the safe-haven demand are keeping prices high in India. And now, as Diwali and the wedding season approach, gold demand is likely to be high, and that could drive the price even higher.
You should not be worried about the high prices! You can still invest in digital gold or Gold ETFs, which allow you to purchase smaller quantities without the need to buy heavy jewelry.
So, what’s the smart move?
Are you planning to purchase some gold in the coming festival or a relation’s wedding? Then it is better to buy it now and avoid increased prices in the future. However, if you are investing to make money, you may want to wait until prices stabilize. What do you think?