Gold prices rose in India on Thursday, according to data from India's Multi Commodity Exchange (MCX).
Gold prices rose in India on Thursday, according to data from India 's Multi Commodity Exchange . Gold price stood at 73,212 India n Rupees per 10 grams, up INR 767 compared with the INR 72,445 it cost on Wednesday. As for futures contracts, Gold prices increased to INR 73,108 per 10 gms from INR 73,102 per 10 gms. Prices for Silver futures contracts increased to INR 87,187 per kg from INR 86,865 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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