Monday, 11 January 2021
Gold price today jumped to Rs 52,860 from Rs 52,850, while silver price was trending at Rs 63,900 per kg, according to the Good Returns website.
Gold jewellery price varies across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making changes.
In New Delhi, the gold price of 22-carat gold is at Rs 48,460 per 10 gm, while in Chennai it fell to Rs 47,010. In Mumbai, the rate was Rs 48,470 according to the Good Returns website. The price of 24-carat gold in Chennai was Rs 51,280 per 10 gm.
Economic downturn due to coronavirus pandemic and weakness in the US dollar encouraged investors to infuse a whopping Rs 6,657 crore in gold exchange-traded funds in 2020. In comparison, a net inflow of just Rs 16 crore was seen in the entire 2019. The inflow came after witnessing a net pullout from safe-haven assets for six consecutive years, mainly on fears of a global slowdown and volatility in equity and debt markets.