Gold prices fell in India on Wednesday, according to data from India's Multi Commodity Exchange (MCX).
Gold prices fell in India on Wednesday, according to data from India 's Multi Commodity Exchange . Gold price stood at 71,405 India n Rupees per 10 grams, down INR 120 compared with the INR 71,525 it cost on Tuesday. As for futures contracts, Gold prices decreased to INR 70,962 per 10 gms from INR 71,136 per 10 gms. Prices for Silver futures contracts decreased to INR 82,429 per kg from INR 82,794 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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