Today's Gold Price Delhi: Yellow Metal Falls; Silver Witnesses Sharp Dip

Gold price in the national capital fell Rs 40 to Rs 50,833 per 10 grams on Monday amid a fall in the precious metal prices in the overseas market, according to HDFC Securities.

In the previous trade, the yellow metal had touched Rs 50,873 per 10 grams. Silver also declined by Rs 594 to Rs 56,255 per kilogram from Rs 56,849 per kg, according to a PTI report.

In the international market, gold was quoting lower at USD 1,655.75 per ounce while silver was down at USD 18.55 per ounce, added the PTI report.

"The precious metal is down about 20 per cent since this year's peak in March. Spot COMEX gold last traded at USD 1,655.75 an ounce," said Dilip Parmar, Research Analyst at HDFC Securities.

Ways To Store Your Gold Safely
People in India love to invest in gold and the yellow metal has emerged an integral part of our culture. Whether it is a wedding, family function, or an investment option, gold has attained huge significance. After purchasing gold, the cloud of fear surrounds our mind thus leaving most of us busy as to what can be the best way to put it safely. It is no longer safe to keep the precious metal in home as the fear of burglary is always there. When we buy gold we also need to think simultaneously the best ways to store it safely. Check some of the best ways given below:

Digital Gold: When you choose bank lockers, you need to pay some additional charges and when you decide to keep in your home, it causes immense stress. It is an ideal option to purchase digital gold online as it will provide you safer and economical way of investing in physical gold by using digital speed. When you invest in digital gold, it lets you buy and sell the yellow metal in small fractions at your own ease.

Digital gold allows you to buy gold in small denominations like Rs 100 and so on.

Gold FD: Also known as Gold Deposit Scheme or Gold Monetization Scheme, it has been designed to mobilise the gold possessed by people and institutions and enable its use for creative purposes. It also helps in bringing down the country's dependence on gold import. If you are an Indian resident, you can make deposits under the scheme. Gold FD can be jointly opened by 2 or more depositors.

The minimum deposits any one time is 30 grams of raw gold in the form of bars, coins, jewellery except stones and other metals. Meanwhile, there is no maximum limit for deposit under gold FD scheme. Interest on deposits under the scheme shall begin accumulating from the date of conversion of gold deposited into tradable gold bard after refinement or 30 days after receipt of gold at the bank's chosen branch.

There are 2 types of gold deposits available in the scheme namely short-term bank deposit (STBD), medium- and long-term government deposit (MLTGD).