Gold prices rose in India on Monday, according to data from India's Multi Commodity Exchange (MCX).
Gold prices rose in India on Monday, according to data from India 's Multi Commodity Exchange . Gold price stood at 71,326 India n Rupees per 10 grams, up INR 420 compared with the INR 70,906 it cost on Friday. As for futures contracts, Gold prices increased to INR 71,189 per 10 gms from INR 70,646 per 10 gms. Prices for Silver futures contracts increased to INR 82,308 per kg from INR 81,026 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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