Today's Gold Price Delhi: Yellow Metal Falls, Sharp Dip In Silver, Should You Invest?

The price of gold witnessed a dip of Rs 435 to Rs 49,282 per 10 gram in Delhi on September 28, 2022. The precious metal also declined in the global market. In previous trade, gold prices settled at Rs 49,717 per 10 gram. Meanwhile, prices of silver too declined by Rs 1600 to end at Rs 54,765 per kg in the national capital.

"Spot gold prices for 24-carat gold in Delhi fell by Rs 435 per 10-gram following risk-averse sentiment and the Exchange Traded Funds (ETF) cut holding in gold," said Dilip Parmar, Research Analyst at HDFC Securities.

In the global market, the price of gold was quoted at USD 1615.7 per ounce. Silver prices was also trading lower at USD 18 per ounce.

Gold prices traded lower as spot gold prices at COMEX fell to USD 1,615 per ounce, a level last seen in April 2020, Parmar added.

According to an ICRA report, demand for gold jewellery in India may surge to a healthy 11% during the festive season. Several positive aspects such as the fast-paced vaccination program, conscious citizens and low transmission rates, the festive season in 2022 brings plenty of hope and cheer for the gold sellers. The Reserve Bank of India (RBI) has also predicted a bountiful festive season for the sellers with a boost in consumer demand in metros as well as the Indian heartland.

At a time when the price of gold declines, it is ideal to invest in gold. Currently, the ongoing fluctuations prevailing in the gold prices indicate that one should invest in gold for long term. As per experts, it is appropriate to invest in gold in smaller amounts in the form of digital gold, ingots, bars, coins etc.

It is worth mentioning that gold is viewed as a safe haven instrument as a result of its low volatility, low correlation, and utility value.

How To Check Purity Of Gold?
Now gold jeweler is no longer left a fashion statement it has become a vital investment for many in India. Therefore, you should be totally aware of the quality and purity of gold when you buy it.

Many investors may be planning to buy gold amid the falling prices. The purity of gold is measured in Carat that may be categorized in 24, 22, 18, 14, 10 Carats. Most of the jewellaries are made from 22 Carat of gold as 24 Carat gold is very soft and tend to break easily. It is worth mentioning 24 Carat purity gold will have 999 written while 22 Carat gold will have 995 written.

If it is 22 Carat gold, you will find 916 written and 18 Carat gold will have 750 written on it. The purity of jewellery can be discovered by looking for the Hall Mark sign as it is mandatory for jewelers to write it on every jewellery piece.