Gold prices fell in India on Tuesday, according to data from India 's Multi Commodity Exchange . Gold price stood at 71,922 India n Rupees per 10 grams, down INR 287 compared with the INR 72,209 it cost on Monday. As for futures contracts, Gold prices increased to INR 71,887 per 10 gms from INR 71,855 per 10 gms. Prices for Silver futures contracts increased to INR 85,180 per kg from INR 84,886 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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