Quote on Gold By Mr. Veer Mishra, Co-Founder of Plus
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Below the "Quote on Gold" by Mr. Veer Mishra, Co-Founder of Plus
"The gold price in India today, September 27, 2023, is as follows:
24-carat gold: ?5,973 per gram
22-carat gold: ?5,475 per gram
These prices are the average of the prices offered by major gold dealers in major cities across India. The actual price may vary slightly depending on the dealer and the city.
Geopolitical Factors Impacting Gold Prices
Global: The ongoing conflict in Ukraine and rising tensions between the US and China have kept gold prices elevated in recent months. Gold is seen as a safe-haven asset during times of uncertainty, and investors have been flocking to the metal as a hedge against geopolitical risks.
India: The Indian rupee has been falling against the US dollar in recent months, which has made gold imports more expensive. This has put downward pressure on gold prices in the domestic market.
Despite the recent decline, gold prices are still higher than they were a year ago. In September 2022, 22-carat gold was trading at ?4,950 per gram, while 24-carat gold was trading at ?5,450 per gram.
Investors who are considering buying gold should carefully consider their investment goals and risk tolerance. Gold is a relatively illiquid asset, and its price can be volatile. However, it can also provide a hedge against inflation and other economic risks.”
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