Source: LIVEMINT
Gold and silver prices in your city, May 22: The yellow metal gained amid uncertainity over the United States economy and a weaker US Dollar (USD). Gold and silver are safe haven investments, which experts feel insulate your portfolio against the volatile equities market.
In terms of returns, gold rates have surged 30 per cent year-on-year (YoY), and as an investment it has returned 15 per cent CAGR since 2001. Further, since 1995, gold has beaten inflation by over 2-4 per cent, according to data.
This year, silver has also been in the spotlight. A slow and steady winner, it has at times beaten gold in terms of being the stabler bet. Notably, experts feel that buying gold on dips is an “opportunity” and some recommend gold ETFs to create exposure while saving on making charges and storage cost.
However, please check your own financial goals and requirements, and cosnult with your financial manager (if one), for how to add commodities to your portfolio mix.
Prices opened higher by ₹613 per 10 grams today at 9 am on May 22. The MCX gold index was at ₹96,212/10 gm, the official website showed. Meanwhile, MCX silver prices were at ₹99,029/kg, it showed.
Further, 24-carat gold was priced at ₹96,670/10 gm, according to data on the Indian Bullion Association (IBA) at 9 am on May 22. Further, 22-carat gold was priced at ₹88,614/10 gms. And, silver prices today are at ₹99,200/kg (Silver 999 Fine), as per the IBA website.
So, check here for prices of gold and silver in your city today on May 22 — Delhi, Kolkata, Mumbai, Hyderabad, Bengaluru, and Chennai. Notably, for retail customers, jewellers may add making charges, taxes and GST to the bill, which could hike the final price for you.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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