Gold prices rose in India on Wednesday, according to data from India's Multi Commodity Exchange (MCX).
Gold prices rose in India on Wednesday, according to data from India's Multi Commodity Exchange . Gold price stood at 73,880 Indian Rupees per 10 grams, up INR 27 compared with the INR 73,853 it cost on Tuesday. As for futures contracts, Gold prices decreased to INR 73,813 per 10 gms from INR 74,021 per 10 gms. Prices for Silver futures contracts decreased to INR 94,331 per kg from INR 94,725 per kg.
Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. Who buys the most Gold? Central banks are the biggest Gold holders.
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