Gold rate today in akola
The gold rate today in akola, October 7, 2023, is ₹ 5,250 per gram for 22 karat gold and ₹ 5,723 per gram for 24 karat gold (also called 999 gold) in India.
Gold rate in different cities in India
The gold rate varies slightly from city to city in India. Here is a table of the gold rate in some of the major cities in India today:
| City | 22 karat gold rate per gram (₹) | 24 karat gold rate per gram (₹) |
|---|---|---|
| Delhi | 5,265 | 5,738 |
| Mumbai | 5,255 | 5,728 |
| Chennai | 5,285 | 5,765 |
| Kolkata | 5,275 | 5,758 |
| Bangalore | 5,260 | 5,733 |
| Hyderabad | 5,250 | 5,723 |
Factors that affect the gold rate
Global demand and supply: Gold is a global commodity, so its price is affected by global demand and supply. When demand for gold is high and supply is low, the price of gold tends to go up.
Interest rates: Interest rates are the cost of borrowing money. When interest rates are low, people are more likely to invest in gold, which can push up the price.
The US dollar: The US dollar is the world’s reserve currency, so its value has a big impact on the price of gold. When the US dollar is weak, gold tends to become more attractive to investors, which can push up the price.
Economic uncertainty: When there is economic uncertainty, people often turn to gold as a safe haven investment. This can push up the price of gold.
Why should you invest in gold?
There are a number of reasons why you might want to invest in gold:
Gold is a safe haven investment: Gold is often seen as a safe haven investment, meaning that it tends to hold its value even when other investments are losing value. This is because gold is a physical asset that is limited in supply.
Gold is a hedge against inflation: Inflation is the rate at which prices for goods and services are rising. When inflation is high, the value of your money decreases. Gold can be a hedge against inflation because its value tends to rise with inflation.
Gold is a liquid asset: Gold is a liquid asset, meaning that it can be easily converted into cash. This makes it a good investment for people who need to be able to access their money quickly.
How to invest in gold
There are a number of ways to invest in gold. You can buy physical gold, such as gold coins or bars, from a jewelry store or bullion dealer. You can also invest in gold through paper assets, such as gold ETFs or mutual funds.
Conclusion
Gold is a precious metal that has been valued for centuries. It is a safe haven investment, a hedge against inflation, and a liquid asset. If you are considering investing in gold, be sure to do your research and understand the risks involved.”