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 72,445 India n Rupees per 10 grams, up INR 523 compared with the INR 71,922 it cost on Tuesday. As for futures contracts, Gold prices increased to INR 72,540 per 10 gms from INR 72,297 per 10 gms. Prices for Silver futures contracts increased to INR 85,525 per kg from INR 85,417 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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