As of May 5, gold continues to be a favored investment for those looking to secure their financial future. This enduring metal has not only shown remarkable resilience but has also provided substantial returns over the years. With a significant 30% increase in value over the past twelve months and an impressive 15% compound annual growth rate (CAGR) since 2001, gold remains a powerful hedge against inflation. Notably, historical trends reveal that since 1995, gold has outpaced inflation by 2-4%, making it a strategic addition to investment portfolios.
Current Gold and Silver Prices
On this date, gold prices are making waves across major Indian cities. According to the latest updates, the MCX gold index stands at ₹92,700 per 10 grams, reflecting a slight increase of ₹61. However, silver prices are experiencing a downturn, decreasing by ₹138 to settle at ₹93,151 per kilogram. As we dive into the specifics, here’s a breakdown of the current rates for both gold and silver:
- 24-Carat Gold: ₹93,000 per 10 grams
- 22-Carat Gold: ₹85,250 per 10 grams
- Silver (999 Fine): ₹94,140 per kilogram
City-wise Gold and Silver Rates
If you’re considering investing in gold or silver today, here’s a detailed look at the prices for various cities:
Chennai
- Gold Bullion: ₹94,750 per 10 grams
- MCX Gold Rate: ₹95,221 per 10 grams
- Silver Bullion: ₹95,460 per kilogram
- MCX Silver 999: ₹96,524 per kilogram
Kolkata
- Gold Bullion: ₹94,350 per 10 grams
- MCX Gold Rate: ₹95,221 per 10 grams
- Silver Bullion: ₹95,060 per kilogram
- MCX Silver 999: ₹96,524 per kilogram
Hyderabad
- Gold Bullion: ₹94,620 per 10 grams
- MCX Gold Rate: ₹95,221 per 10 grams
- Silver Bullion: ₹95,330 per kilogram
- MCX Silver 999: ₹96,524 per kilogram
Bengaluru
- Gold Bullion: ₹94,500 per 10 grams
- MCX Gold Rate: ₹95,221 per 10 grams
- Silver Bullion: ₹95,200 per kilogram
- MCX Silver 999: ₹96,524 per kilogram
Delhi
- Gold Bullion: ₹94,260 per 10 grams
- MCX Gold Rate: ₹95,221 per 10 grams
- Silver Bullion: ₹94,960 per kilogram
- MCX Silver 999: ₹96,524 per kilogram
Mumbai
- Gold Bullion: ₹94,430 per 10 grams
- MCX Gold Rate: ₹95,221 per 10 grams
- Silver Bullion: ₹95,120 per kilogram
- MCX Silver 999: ₹96,524 per kilogram
Conclusion
As we navigate through this month, it’s crucial to stay informed about the fluctuations in gold and silver prices. Whether you’re a seasoned investor or a newcomer looking to diversify your portfolio, understanding the current market trends can help you make informed decisions. Don’t miss the opportunity to check the latest rates in your city and consider adding gold to your investment strategy!
