Last Updated on 26/07/2024 by wccexam Desk
Investing in gold and silver has been the first choice of Indians. It is a tradition and the returns are also good. There must be many people around you who would say that when they were in trouble, gold, silver and jewellery helped them. That is, they came out of the crisis by mortgaging or selling gold and silver.
Actually, for the last few days, there has been a continuous fall in the prices of gold. In such a situation, people want to know whether this is the right time to invest in gold? Because gold has become cheaper by about Rs 6700 per 10 grams from the all-time high, while the price of silver has fallen by Rs 13000 per kg from the all-time high.
Latest price of gold and silver (Gold Silver Update Rate)
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If we talk about the latest price, on Friday evening, the price of 10 grams of 24 carat gold was Rs 68131, while the price of 22 carat gold was Rs 67858. Silver is currently Rs 81271 per kg.
Let us tell you, the price of gold has also fallen on Friday as compared to Thursday, the price of 24 carat 10 grams gold was Rs 68227 on Thursday evening, which has come down to Rs 68131 today. Similarly, the price of silver was Rs 81474 per kg on Thursday, which came down to Rs 81271 per kg on Friday.
Gold has made a lot of money
Gold has given people tremendous returns. According to Indian Post Gold Coin Services, at the time of independence, the price of gold was Rs 88.62 per 10 grams. In 1964, its price fell for the first time and it came down to Rs 63.25 per 10 grams. In the 1970s and 80s, its price remained around Rs 1184 to Rs 1130. In 1990, the price of gold took a big leap and reached Rs 3200. Then after five years in 1995, it became Rs 4680 directly.
It is worth noting that gold is considered a support in times of crisis, whenever the economic crisis in the world has deepened, investors’ trust in gold has increased. For example, during the Corona crisis, the stock market and mutual funds disappointed investors. Interest rates in banks were continuously decreasing. But during that time gold had given tremendous returns to the people.