Latest Gold Price India, Oct 22: Sharp Jump In Precious Metal On Dhanteras

Gold price witnessed a sharp rise in India today. Price of 24K gold surged by Rs 830 on Saturday to 51,280 per 10 grams while price of 22K gold jumped by Rs 750 to Rs 47,000 per 10 grams.

It is worth noting that people across India buy gold, silver, gems, precious metal, steel utensils etc. as it is considered auspicious to make purchase of these items. People worship Lord Dhanvantri Jayanti on Dhanteras.

Gold has over the years been a perfect hedge against inflation. Investors increasingly look at gold as a significant investment.

22K Gold prices in India witnessed a decline on October 20 and October 21 by Rs 300 and 22K gold fell by Rs 330 in the country.

3 Reasons Why You Should Invest In gold
The first is that when there is political upheaval or economic disturbance, the first thing to rally would be gold prices. So, if you need to spread your investment gold is an obvious choice.

The second reason to be buying gold is that it has been an excellent hedge against inflation. For example, in the last 8-10 years gold prices in India have tripled. So, they have given you better returns than even fixed interest bearing securities. So there is no reason why you should not be buying into the precious metal.

The last and the final reason is that it can be pledged and it is very liquid. For example, you can even take loans by pledging this precious metal. Today there are plenty of people who are willing to buy hypothecated gold. So, its is not a bad idea to stay invested. It has stood the test of times and that cannot be denied at all.