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Gold Price Falls For 3rd Day In A Row: Right Time To Invest?


Gold price in India has been witnessing a decline for the last three days. The yellow metal price fell by Rs 100 on Friday to settle at Rs 46,400 per 10 gram for 22 carat gold. Earlier, gold price declined by Rs 500 on September 1, 2022 to close at Rs 46,500 per 10 gram for 22 carat gold.

Gold Price Falls For 3rd Day In A Row: Right Time To Invest?

On August 31, 2022 the price of the precious metal saw a dip of Rs 250 to close at Rs 47,000 per 10 gram for 22 carat gold.

It just gained marginally on August 30 by Rs 100 to close at Rs 47,250. Before that it declined by Rs 500 in a span of just 2 days (on August 27 and August 29, 2022).
It is worth noting that the price of 24 carat of gold fell by Rs 110 to settle at Rs 50,620 per 10 gram.

Why Gold Prices are Falling?
The prices of gold has been falling for sometime due to weak global cues. After the US Federal Reserve Chair Jerome Powel stated that Central Bank will pursue its restrictive policy measures, markets witnessed a decline. Investors feel that Fed may hike its rate by 75 bps. The stock markets and commodity markets witnessed a decline all across the globe yesterday. Also, the strong surge in US Dollar Index caused the gold prices to decline.

Should You Invest In The Yellow Metal When Prices Are Falling?
According to commodities experts, investors should buy and hold small quantities of the yellow metal when price corrections occur.

Price of gold today in major Indian cities (22 carat):
Chennai: Rs 46,950

Mumbai: Rs 46,400

Delhi: Rs 46,550

Kolkata: Rs 46,400

Bangalore: Rs 46,450

Hyderabad: Rs 46,400

Kerala: Rs 46,400

Read more about: gold silver gold price silver price
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